01—Abstract
Summary
Summary of the 8-K filed September 28, 2026. Cited figures are marked; the original filing is the authoritative source.
M&T Bank Corporation furnished this Form 8-K under Item 7.01 (Regulation FD Disclosure) to announce changes to how it presents income and balance sheet items beginning in the third quarter of 2026.
The company will reclassify several Other income categories, including combining Trust income and Brokerage services income into Trust and investment services income, moving debit card interchange out of Service charges on deposit accounts into Card revenues, and reclassifying certain items into Letter of credit and credit-related fees and Capital markets and advisory revenues. Mortgage banking revenues and Gain (loss) on bank investment securities are unchanged. The company states these changes will have no impact on total Other income, Income before taxes, Net income or earnings per common share.
The filing also changes balance sheet and disclosure presentation. Loans held for sale will be shown separately from loans held for investment on the Consolidated Balance Sheet and in the Average Balance Sheet and Taxable-equivalent Rates disclosures, and related loan yields and certain loan-based credit quality ratios will exclude loans held for sale. Exhibit 99.1 provides unaudited supplemental historical financial information, restated retrospectively to the new presentation for periods from the first quarter of 2024 through the second quarter of 2026.
The exhibit notes that a new general ledger platform implemented in the second quarter of 2026 also led to a methodology change for annualized taxable-equivalent rates, with prior amounts adjusted to conform. For investors, the restated data shows the reported trajectory on the new basis. Net income was $818 milliona in the second quarter of 2026 versus $664 million in the first quarter of 2026, and $1,482 million for the six months ended June 30, 2026 versus $1,300 million for the same period of 2025.
Total assets were $219.26 billionb at June 30, 2026, total deposits were $168.89 billion, and net interest margin was 3.70% in both the second and first quarters of 2026. Investors should note that the reclassifications affect category-level revenue comparisons, not totals, so line-item trends should be read against the restated figures rather than previously reported ones.
02—Key points
Key Highlights
- Effective for Q3 2026, M&T reclassifies Other income categories, including combining Trust income and Brokerage services income into Trust and investment services income and moving debit card interchange into Card revenues.
- The company states the changes have no impact on total Other income, Income before taxes, Net income or earnings per common share; Mortgage banking revenues and Gain (loss) on bank investment securities are unchanged.
- Loans held for sale will be presented separately from loans held for investment on the balance sheet and in average balance and taxable-equivalent rate disclosures, with certain loan-based credit quality ratios excluding them.
- Exhibit 99.1 restates historical income statement, balance sheet, other revenues and average balance sheet data retrospectively to the new presentation, covering periods from Q1 2024 through Q2 2026.
- Net income was $818 million in Q2 2026 versus $664 million in Q1 2026; total other income was $740 million in Q2 2026 versus $689 million in Q1 2026.
- At June 30, 2026, total assets were $219.26 billion, total loans were $142.53 billion and total deposits were $168.89 billion.
- Net interest margin was 3.70% in Q2 2026 and 3.70% in Q1 2026, and the company notes a new general ledger platform in Q2 2026 led to a methodology change for annualized taxable-equivalent rates.
03—Questions
Frequently Asked Questions
Do these reclassifications change M&T's reported net income or earnings per share?
No. The filing states the changes will have no impact on total Other income, Income before taxes, Net income or earnings per common share. They only move revenue among Other income categories and change balance sheet and average balance presentation.
Which Other income categories are affected?
Trust and investment services income will combine Trust income and Brokerage services income. Service charges on deposit accounts will exclude debit card interchange, which moves to Card revenues. Card revenues will include credit card interchange and merchant discount revenue previously in Other revenues from operations. Letter of credit and other credit-related fees were previously in Other revenues from operations. Capital markets and advisory revenues will add Trading account and other non-hedging derivative gains and loan syndication, underwriting and advisory fees. Mortgage banking revenues and Gain (loss) on bank investment securities are unchanged.
Why does the restated historical data matter for investors?
Exhibit 99.1 restates income statement, balance sheet, other revenues and average balance sheet information retrospectively to the new presentation, so comparisons across periods are on a consistent basis. For example, restated Q2 2026 net income is $818 million and Q1 2026 is $664 million, and restated Q2 2025 net income is $716 million.
How does the change to loans held for sale affect loan metrics?
Loans held for sale will be presented separately from loans held for investment on the balance sheet and in the average balance sheet disclosures. Annualized taxable-equivalent rates for each affected loan category and certain loan-based credit quality ratios will exclude loans held for sale.
Did anything else change in how rates were calculated?
Yes. The filing states that, in conjunction with a new general ledger platform implemented during the second quarter of 2026, the company modified its methodology for calculating annualized taxable-equivalent rates for certain earning assets and interest-bearing liabilities, including certain average deposit balances. Previously reported amounts were adjusted to conform to the current presentation. The restated supplemental information is unaudited.
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