01—Abstract
Summary
Summary of the 10-K filed February 18, 2026. Cited figures are marked; the original filing is the authoritative source.
M&T Bank Corporation (MTB) reported net income of $2.85 billiona for 2025, up from $2.59 billion in 2024, with diluted earnings per common share of $17.00 compared with $14.64.
Net interest income rose to $6.95 billionb from $6.85 billion, and net interest margin widened to 3.67% from 3.58%. Other income increased 13% to $2.74 billion, driven mainly by higher mortgage banking revenues and other revenues from operations, while the provision for credit losses fell to $505 million from $610 million, reflecting improved levels of criticized loans. Other expense rose 2% to $5.49 billion.
Asset quality improved over the year: nonaccrual loans fell to $1.25 billionc from $1.69 billion, and nonaccrual loans as a percent of total loans declined to 0.90% from 1.25%. Total loans were $138.7 billion at year end, with commercial real estate loans declining as the company reduced its concentration in that category. Total assets reached $213.5 billion and shareholders' equity $29.2 billion.
Under a $4.0 billiond repurchase authorization approved in January 2025, M&T repurchased 14.3 million common shares in 2025 for $2.66 billion. The company's CET1 ratio was 10.84% at the consolidated level, and its stress capital buffer was 2.7%, effective October 1, 2025.
The filing also flags a pending civil complaint against Wilmington Trust, N.A. tied to Tricolor Holdings, LLC asset-backed transactions, for which the company does not currently expect a material financial impact and cannot estimate potential liability. Effective January 1, 2026, the company elected to measure residential mortgage servicing rights at fair value, which increased capitalized servicing assets by $263 million.
02—Key points
Key Highlights
- Net income of $2.85 billion in 2025, up 10% from $2.59 billion in 2024; diluted EPS of $17.00 versus $14.64.
- Net interest margin widened to 3.67% from 3.58%, with taxable-equivalent net interest income up $90 million to $6.99 billion.
- Provision for credit losses declined 17% to $505 million, mainly reflecting improved levels of criticized loans.
- Nonaccrual loans fell to $1.25 billion (0.90% of total loans) from $1.69 billion (1.25%); commercial real estate loans declined $5.3 billion on average.
- Repurchased 14.3 million common shares for $2.66 billion in 2025 under a $4.0 billion authorization; issued $440 million of Series K preferred stock in October 2025.
- Total assets of $213.5 billion, deposits of $166.9 billion, and shareholders' equity of $29.2 billion at December 31, 2025; CET1 capital ratio of 10.84% consolidated.
- Pending civil complaint against Wilmington Trust, N.A. related to Tricolor Holdings, LLC securitizations, with the company stating losses are not currently expected to be material.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 18, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $1.66B$1.54B | +7.5% |
| Net Income | $2.85B$2.59B | +10.2% |
| EPS (Basic) | $17.10$14.71 | +16.2% |
| EPS (Diluted) | $17.00$14.64 | +16.1% |
| Shares Outstanding (Basic) | 157.88M166.48M | −5.2% |
| Shares Outstanding (Diluted) | 158.79M167.32M | −5.1% |
05—Questions
Frequently Asked Questions
How did M&T's profitability change in 2025?
Net income rose to $2.85 billion from $2.59 billion, and diluted EPS increased to $17.00 from $14.64. Growth reflected a $90 million increase in taxable-equivalent net interest income, a $315 million increase in other income, and a $105 million lower provision for credit losses, partly offset by a $134 million increase in other expense.
What drove the increase in noninterest income?
Other income rose 13% to $2.74 billion, reflecting higher mortgage banking revenues ($550 million versus $436 million), service charges on deposit accounts ($551 million versus $514 million), trust income ($724 million versus $675 million), and other revenues from operations ($726 million versus $632 million).
How is M&T's credit quality trending?
Nonaccrual loans decreased to $1.25 billion from $1.69 billion, and nonaccrual loans as a percent of total loans fell to 0.90% from 1.25%. Net charge-offs were $553 million, essentially flat with $555 million in 2024, and the allowance for credit losses totaled $2.20 billion.
What capital return and regulatory capital steps did M&T take?
M&T repurchased $2.66 billion of common stock in 2025 and paid $900 million in common dividends ($5.70 per share). Its stress capital buffer became 2.7% on October 1, 2025, setting a CET1 requirement of 7.2%, and the consolidated CET1 ratio was 10.84% at December 31, 2025.
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