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M&T Bank Corporation

MTB

M&T Bank Corporation • NYSE
$190.22 ▼ -0.01% (-0.02)
Market Cap $29.24 B
52w High $219.85
52w Low $150.75
Dividend Yield 5.55%
P/E 11.73
Volume 416.78K
Outstanding Shares 153.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.513B ▼ $1.363B ▲ $792M ▲ 31.516% ▲ $4.85 ▲ $1.035B ▼
Q2-2025 $3.292B ▲ $1.336B ▼ $716M ▲ 21.75% ▲ $4.28 ▲ $1.059B ▲
Q1-2025 $3.171B ▼ $1.415B ▲ $584M ▼ 18.417% ▼ $3.33 ▼ $891M ▼
Q4-2024 $3.341B ▼ $1.34B ▲ $681M ▼ 20.383% ▼ $3.88 ▼ $1.011B ▼
Q3-2024 $3.391B $1.303B $721M 21.262% $4.04 $1.031B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $37.952B ▼ $211.277B ▼ $182.549B ▼ $28.728B ▲
Q2-2025 $56.993B ▲ $211.584B ▲ $183.059B ▲ $28.525B ▼
Q1-2025 $38.801B ▲ $210.321B ▲ $181.33B ▲ $28.991B ▼
Q4-2024 $35.33B ▼ $208.105B ▼ $179.078B ▼ $29.027B ▲
Q3-2024 $39.277B $211.785B $182.909B $28.876B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $792M ▲ $1.001B ▲ $-545M ▲ $-1.18B ▼ $-178M ▼ $1.052B ▲
Q2-2025 $716M ▲ $844M ▲ $-853M ▲ $28M ▼ $19M ▼ $818M ▲
Q1-2025 $584M ▼ $635M ▼ $-2.132B ▼ $1.697B ▲ $200M ▲ $610M ▼
Q4-2024 $681M ▼ $1.676B ▲ $2.293B ▲ $-4.276B ▼ $-307M ▼ $1.591B ▲
Q3-2024 $721M $-28M $-1.386B $1.852B $438M $-58M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Commercial Banking
Commercial Banking
 $140.00M ▲$700.00M ▲$80.00M ▼$80.00M ▲
Retail Banking
Retail Banking
 $230.00M ▲$1.18Bn ▲$130.00M ▼$130.00M ▲

Five-Year Company Overview

Income Statement

Income Statement M&T’s income statement shows a bank that has grown meaningfully over the past five years and is comfortably profitable. Revenue has expanded strongly since 2020, helped by both organic growth and acquisitions, with a particularly big step-up a couple of years ago. Profitability also improved over that period, but the most recent year shows a mild step down in earnings despite higher revenue, suggesting pressure from higher costs, credit provisions, or a less favorable interest-rate mix. Overall, it still earns solid profits, but the easy post‑pandemic gains appear behind it, and the current phase looks more about defending margins than unlocking big jumps in earnings.

Balance Sheet

Balance Sheet The balance sheet looks like that of a large, established regional bank with a sizable and stable asset base. Total assets have grown significantly over the period, reflecting both expansion and the integration of acquired operations. Shareholders’ equity has steadily increased, which is a positive sign of retained strength and capital building. Debt levels have also climbed over time but remain modest relative to total assets, which points to a generally conservative funding profile. Cash balances have moved around year to year, dropping from an unusually high level a few years ago to a more normalized level recently, but nothing here suggests obvious stress. Overall, the balance sheet profile fits a well-capitalized regional bank focused on steady resilience rather than aggressive leverage.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has been consistently positive and generally stronger in recent years than during the early pandemic period, showing that the core banking engine is producing reliable cash. Free cash flow closely tracks operating cash flow because capital spending is relatively light, reflecting the service-based nature of banking where technology and people matter more than heavy physical investment. This pattern gives M&T solid flexibility to support dividends, build capital, and invest in technology and growth initiatives without stretching its finances. The main watchpoint is that future credit cycles or deposit pressures could affect the durability of this strong cash generation, as is typical for banks.

Competitive Edge

Competitive Edge M&T holds a defensible position as a leading regional bank in the Northeast and Mid‑Atlantic. Its long-standing community banking model, with a focus on relationships and local decision-making, supports sticky customer relationships and makes it harder for national or digital-only competitors to displace it. The acquisition of People’s United deepened its presence in key markets like New England, enhancing scale and relevance with both consumers and businesses. Its mix of retail banking, commercial lending, wealth management, and insurance gives it multiple income streams and cross‑selling opportunities. A disciplined risk culture and historically conservative underwriting further support its reputation as a steady partner. Risks revolve around its concentration in a specific region, exposure to commercial and real estate cycles, and ongoing competition for deposits from both large national banks and fintechs.

Innovation and R&D

Innovation and R&D For a regional bank, M&T is notably active on the innovation front. Rather than chasing flashy trends, it focuses on practical technology that improves customer experience and internal efficiency. It uses APIs to plug into digital assistants and third‑party platforms, and applies artificial intelligence and machine learning to personalize banking, detect fraud, and speed up lending. Tools like its Money Smart dashboard help customers manage finances across multiple institutions, which deepens engagement. Partnerships with fintechs in areas like digital mortgage applications and private credit workflow show a willingness to collaborate instead of trying to build everything in‑house. Internal ventures like Nota, targeting niche professional segments such as solo lawyers, demonstrate that M&T is experimenting with focused, problem‑solving solutions. The bank’s innovation spending is not about massive lab-style R&D, but about steady, targeted updates that keep its offerings competitive and its moat relevant in a digital world.

Summary

Overall, M&T looks like a mature, well-run regional bank that combines steady financial performance with a thoughtful approach to technology and community banking. Its income statement reflects strong growth from earlier years and still-solid profitability, even as recent earnings face the usual pressures from costs and the interest-rate environment. The balance sheet appears robust, with growing equity and manageable debt, and cash flows are healthy and consistently positive. Competitively, M&T benefits from a strong regional footprint, diversified services, and conservative risk management, while its measured embrace of digital tools, AI, and fintech partnerships helps it stay relevant in a rapidly evolving banking landscape. Key uncertainties center on credit quality, interest-rate shifts, and regional economic conditions, but the bank’s mix of traditional strengths and pragmatic innovation provides a solid base for navigating those challenges.

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