What is this 8-K filing about?

The filing furnishes under Item 7.01 (Regulation FD Disclosure) an investor presentation, "Investor Update 1st Quarter 2026," posted to M&T's Investor Relations website on February 11, 2026. The presentation is attached as Exhibit 99.1. M&T states that the information is not deemed filed for purposes of Section 18 of the Exchange Act.

How did M&T perform in 2025 according to the presentation?

The presentation reports record net operating income of $2.9 billion (up 10% YoY) and record net operating EPS of $17.20 (up 16% YoY). Net interest margin was 3.67%, return on tangible common equity was 15.36%, and return on tangible assets was 1.43%. Noninterest income was a record $2.7 billion, up 13% YoY.

What does M&T expect for 2026?

M&T expects taxable-equivalent net interest income of $7.2 to $7.35 billion with a net interest margin in the low 3.70s, fee income of $2.675 to $2.775 billion, and GAAP expense of $5.5 to $5.6 billion. It projects average loans of $140 to $142 billion and average deposits of $165 to $167 billion. Net charge-offs are expected at 40 basis points, plus or minus, of average loans, and the CET1 ratio is expected to be 10.25% to 10.5%.

What is M&T's capital return policy?

The presentation states that M&T maintains share repurchase flexibility, with repurchases expected to lower capital levels to the 10.25% to 10.5% CET1 range. It notes that 9% of outstanding shares were repurchased in 2025. The quarterly dividend was increased 11% to $1.50 per share from $1.35 in 3Q25, and M&T expects continued annual dividend growth.

What does the presentation say about credit quality?

The presentation reports nonaccrual loans down 26% YoY and criticized loans down 27% YoY in 2025. It states that nonaccrual and criticized loans have fallen 42% since 2023. Net charge-offs to loans were 0.41% in 2025, and the allowance to loans was 1.53%.

M&T Bank 8-K: Regulation FD

01—Abstract

Summary

Summary of the 8-K filed February 11, 2026. Cited figures are marked; the original filing is the authoritative source.

On February 11, 2026, M&T Bank Corporation posted an investor presentation titled "Investor Update 1st Quarter 2026" to its website and filed it as Exhibit 99.1 to this Form 8-K under Item 7.01 (Regulation FD Disclosure).

The company states that it may use the presentation in conversations with investors and analysts. The filing states that the information is furnished and not deemed "filed" for purposes of Section 18 of the Exchange Act. The presentation reports 2025 results and sets out 2026 expectations.

It cites record net operating income of $2.9 billion^a (up 10% year over year), record net operating EPS of $17.20 (up 16%), a net interest margin of 3.67%, a return on tangible common equity of 15.36%, and a return on tangible assets of 1.43%. Noninterest income reached a record $2.7 billion (up 13%), and the efficiency ratio was 56%. Nonaccrual loans declined 26% and criticized loans declined 27% year over year.

For 2026, management guides to taxable-equivalent net interest income of $7.2 to $7.35 billion^b with a net interest margin in the low 3.70s, fee income of $2.675 to $2.775 billion, GAAP expense of $5.5 to $5.6 billion, average loans of $140 to $142 billion, average deposits of $165 to $167 billion, and a CET1 ratio target of 10.25% to 10.5%. The presentation also notes an 11% increase in the quarterly dividend from $1.35 to $1.50 per share in 3Q25 and expected continued annual dividend growth.

02—Key points

Key Highlights

Record 2025 net operating income of $2.9 billion (up 10% YoY) and net operating EPS of $17.20 (up 16% YoY)
Record noninterest income of $2.7 billion (up 13% YoY); efficiency ratio of 56%
Net interest margin of 3.67%; return on tangible common equity of 15.36% and return on tangible assets of 1.43%
Asset quality improved: nonaccrual loans down 26% YoY and criticized loans down 27% YoY
2026 outlook: net interest income of $7.2 to $7.35 billion, fee income of $2.675 to $2.775 billion, GAAP expense of $5.5 to $5.6 billion
2026 CET1 capital ratio expected at 10.25% to 10.5%, with continued share repurchase flexibility
Quarterly dividend increased 11% to $1.50 per share from $1.35 in 3Q25, with continued annual dividend growth expected

03—Questions

Frequently Asked Questions

What is this 8-K filing about?
The filing furnishes under Item 7.01 (Regulation FD Disclosure) an investor presentation, "Investor Update 1st Quarter 2026," posted to M&T's Investor Relations website on February 11, 2026. The presentation is attached as Exhibit 99.1. M&T states that the information is not deemed filed for purposes of Section 18 of the Exchange Act.
How did M&T perform in 2025 according to the presentation?
The presentation reports record net operating income of $2.9 billion (up 10% YoY) and record net operating EPS of $17.20 (up 16% YoY). Net interest margin was 3.67%, return on tangible common equity was 15.36%, and return on tangible assets was 1.43%. Noninterest income was a record $2.7 billion, up 13% YoY.
What does M&T expect for 2026?
M&T expects taxable-equivalent net interest income of $7.2 to $7.35 billion with a net interest margin in the low 3.70s, fee income of $2.675 to $2.775 billion, and GAAP expense of $5.5 to $5.6 billion. It projects average loans of $140 to $142 billion and average deposits of $165 to $167 billion. Net charge-offs are expected at 40 basis points, plus or minus, of average loans, and the CET1 ratio is expected to be 10.25% to 10.5%.
What is M&T's capital return policy?
The presentation states that M&T maintains share repurchase flexibility, with repurchases expected to lower capital levels to the 10.25% to 10.5% CET1 range. It notes that 9% of outstanding shares were repurchased in 2025. The quarterly dividend was increased 11% to $1.50 per share from $1.35 in 3Q25, and M&T expects continued annual dividend growth.
What does the presentation say about credit quality?
The presentation reports nonaccrual loans down 26% YoY and criticized loans down 27% YoY in 2025. It states that nonaccrual and criticized loans have fallen 42% since 2023. Net charge-offs to loans were 0.41% in 2025, and the allowance to loans was 1.53%.

04—Continue

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