financial statements

The full income statement, balance sheet, and cash-flow statement for M&T Bank Corporation (MTB), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.66B YoY+7.5%	1.54B YoY+3.8%	1.48B YoY-2.7%	1.52B YoY-74.5%	5.99B YoY+0.6%
Noninterest income	2.74B YoY+13.0%	2.43B YoY-4.0%	2.53B YoY+7.3%	2.36B YoY+8.8%	2.17B YoY+3.8%
Amortization of intangibles	42.0M YoY-20.8%	53.0M YoY-14.5%	62.0M YoY+10.7%	56.0M YoY+460.0%	10.0M YoY-32.7%
Noninterest expense	5.49B YoY+2.5%	5.36B YoY-0.4%	5.38B YoY+6.5%	5.05B YoY+39.8%	3.61B YoY+6.7%
Provision for credit losses	—	—	645M YoY+24.8%	517M YoY+789.3%	-75.0M YoY-109.4%
Interest expense	—	—	3.11B YoY+631.5%	425M YoY+272.8%	114M YoY-65.1%
Interest & investment income	10.5B YoY-4.9%	11.0B YoY+7.8%	10.2B YoY+63.7%	6.25B YoY+58.6%	3.94B YoY-6.1%
Net interest income	6.95B YoY+1.4%	6.85B YoY-3.7%	7.12B YoY+22.2%	5.82B YoY+52.2%	3.83B YoY-1.1%
Pre-tax income	3.69B YoY+11.5%	3.31B YoY-8.5%	3.62B YoY+38.6%	2.61B YoY+6.4%	2.46B YoY+38.7%
Income tax	841M YoY+16.5%	722M YoY-17.8%	878M YoY+41.6%	620M YoY+4.0%	596M YoY+43.1%
	2.85B YoY+10.2%	2.59B YoY-5.6%	2.74B YoY+37.6%	1.99B YoY+7.2%	1.86B YoY+37.4%
Net income to common	2.70B YoY+10.2%	2.45B YoY-7.1%	2.64B YoY+39.4%	1.89B YoY+6.4%	1.78B YoY+38.9%
	$17.00 YoY+16.1%	$14.64 YoY-7.3%	$15.79 YoY+36.9%	$11.53 YoY-16.4%	$13.80 YoY+38.8%
EPS (basic)	$17.10 YoY+16.2%	$14.71 YoY-7.2%	$15.85 YoY+36.8%	$11.59 YoY-16.1%	$13.81 YoY+38.9%
Weighted-avg shares (basic)	158M YoY-5.2%	166M YoY+0.1%	166M YoY+2.0%	163M YoY+26.8%	129M YoY+0.0%
Weighted-avg shares (diluted)	159M YoY-5.1%	167M YoY+0.2%	167M YoY+1.8%	164M YoY+27.3%	129M YoY+0.1%
Dividends per share	$5.70 YoY+6.5%	$5.35 YoY+2.9%	$5.20 YoY+8.3%	$4.80	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	18.8B YoY-9.7%	20.8B YoY-30.3%	29.8B YoY+12.5%	26.5B YoY+1879.0%	1.34B YoY-13.8%
	214B YoY+2.6%	208B YoY-0.1%	208B YoY+3.8%	201B YoY+29.4%	155B YoY+8.8%
Property, plant & equipment	1.63B YoY-4.5%	1.71B YoY-2.0%	1.74B YoY+5.1%	1.65B YoY+44.5%	1.14B YoY-1.4%
Operating lease right-of-use	544M YoY-4.4%	569M YoY-7.6%	616M YoY+0.0%	616M YoY+62.2%	380M YoY-8.0%
Goodwill	8.46B YoY+0.0%	8.46B YoY+0.0%	8.46B YoY-0.3%	8.49B YoY+84.8%	4.59B YoY+0.0%
Intangible assets	64.0M YoY-31.9%	94.0M YoY-36.1%	147M YoY-29.7%	209M YoY+5127.6%	4.00M YoY-71.8%
Short-term & current debt	2.15B YoY+102.7%	1.06B YoY-80.1%	5.32B YoY+49.5%	3.56B YoY+7456.4%	47.0M YoY-20.9%
	184B YoY+2.9%	179B YoY-1.2%	181B YoY+3.4%	175B YoY+27.8%	137B YoY+8.5%
Long-term debt	10.9B YoY-13.4%	12.6B YoY+53.7%	8.20B YoY+106.8%	3.96B YoY+13.8%	3.49B YoY-20.5%
	29.2B YoY+0.5%	29.0B YoY+7.7%	27.0B YoY+6.5%	25.3B YoY+41.4%	17.9B YoY+10.6%
Preferred stock	2.83B YoY+18.4%	2.39B YoY+19.0%	2.01B YoY+0.0%	2.01B YoY+14.9%	1.75B YoY+40.0%
Common stock	90.0M YoY+0.0%	90.0M YoY+0.0%	90.0M YoY+0.0%	90.0M YoY+12.7%	79.9M YoY+0.0%
Additional paid-in capital	10.0B YoY+0.1%	10.00B YoY-0.2%	10.0B YoY+0.2%	10.0B YoY+50.7%	6.63B YoY+0.3%
Retained earnings	20.9B YoY+9.5%	19.1B YoY+8.9%	17.5B YoY+11.2%	15.8B YoY+7.6%	14.6B YoY+8.9%
Treasury stock	4.92B YoY+107.4%	2.37B YoY+6.3%	2.23B YoY+27.4%	1.75B YoY-65.6%	5.08B YoY-1.2%
Accumulated other comprehensive income	277M YoY+268.9%	-164M YoY+64.3%	-459M YoY+41.9%	-790M YoY-522.0%	-127M YoY-104.8%
Total equity incl. non-controlling	11.0B YoY+0.0%	11.0B YoY+0.0%	11.0B YoY+0.0%	11.0B YoY+0.0%	11.0B YoY+0.0%
Total liabilities & equity	214B YoY+2.6%	208B YoY-0.1%	208B YoY+3.8%	201B YoY+29.4%	155B YoY+8.8%
Common shares issued	179M YoY+0.0%	179M YoY+0.0%	179M YoY+0.0%	179M YoY+12.3%	160M YoY+0.0%
Shares outstanding (cover)	154M YoY-7.4%	166M YoY-0.0%	166M YoY-3.9%	173M YoY+34.1%	129M YoY+0.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.00B YoY-16.8%	3.61B YoY-7.6%	3.90B YoY-14.6%	4.57B YoY+68.5%	2.71B YoY+244.0%
Depreciation & amortization	323M YoY+2.2%	316M YoY+3.9%	304M YoY+7.8%	282M	—
Deferred income taxes	-18.0M YoY+33.3%	-27.0M YoY+72.2%	-97.0M YoY-223.3%	-30.0M YoY-134.5%	87.0M YoY+378.0%
	-6.82B YoY+30.1%	-9.75B YoY-104.6%	-4.76B YoY-128.7%	16.6B YoY+221.7%	-13.6B YoY+38.1%
Capital expenditure	—	—	256M YoY+19.6%	214M YoY+43.6%	149M YoY-13.4%
Acquisitions	—	0.00	0.00 YoY+100.0%	-394M	—
Purchases of investments	—	—	—	—	678M YoY+8842.3%
Sales/maturities of investments	4.46B YoY-26.6%	6.07B YoY+717.2%	743M YoY-6.5%	795M YoY-44.6%	1.43B YoY-11.2%
Other investing activities	-19.0M YoY-103.5%	538M YoY+22.3%	440M YoY-29.0%	620M YoY+21.3%	511M YoY+858.0%
	1.80B YoY+162.5%	-2.88B YoY-168.9%	4.18B YoY+119.9%	-21.0B YoY-296.1%	10.7B YoY-49.9%
Long-term debt issued	3.53B YoY-35.7%	5.50B YoY+9.2%	5.04B YoY+404.0%	999M YoY+9890.0%	10.0M
Long-term debt repaid	5.38B YoY+433.2%	1.01B YoY+22.5%	824M YoY-9.2%	907M YoY+6.3%	853M YoY-68.0%
Common stock repurchased	2.63B YoY+564.4%	396M YoY-33.3%	594M YoY-67.0%	1.80B	—
Dividends paid	899M YoY+0.4%	895M YoY+3.1%	868M YoY+10.7%	784M YoY+35.2%	580M YoY+2.1%
Other financing activities	-20.0M YoY-117.5%	114M YoY+533.3%	18.0M YoY+228.6%	-14.0M YoY+50.0%	-28.0M YoY-145.3%
Interest paid	3.52B YoY-18.4%	4.32B YoY+60.5%	2.69B YoY+527.3%	429M YoY+208.6%	139M YoY-62.7%
Income taxes paid	529M YoY+124.2%	236M YoY-47.8%	452M YoY-7.4%	488M YoY+55.4%	314M YoY+14.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	31.0B YoY-0.7%	31.2B YoY+37.1%	22.7B YoY-9.1%	25.0B YoY+26.7%	19.8B YoY+21.0%
P/E	10.9× YoY-9.9%	12.1× YoY+60.3%	7.5× YoY-50.3%	15.1× YoY+42.2%	10.6× YoY-11.9%
P/S	18.7× YoY-7.7%	20.2×	—	—	—
P/B	1.1× YoY-1.2%	1.1× YoY+23.8%	0.9× YoY-13.9%	1.0× YoY-8.6%	1.1× YoY+9.4%
P/FCF	10.3× YoY+19.3%	8.6× YoY+54.2%	5.6× YoY-5.0%	5.9× YoY-18.9%	7.3× YoY-64.8%
Earnings yield	9.2% YoY+11.0%	8.3% YoY-37.6%	13.3% YoY+101.1%	6.6% YoY-29.7%	9.4% YoY+13.5%
FCF yield	9.7% YoY-16.2%	11.6% YoY-35.1%	17.8% YoY+5.3%	16.9% YoY+23.4%	13.7% YoY+184.3%
Dividend yield	2.8% YoY-0.6%	2.8% YoY-25.0%	3.8% YoY+14.6%	3.3%	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MTB's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MTB filings on SEC EDGAR → Not investment advice.

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financial statements