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Earnings per common share | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
Earnings per common share | 9. Earnings per common share The computations of basic earnings per common share follow.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in millions, except per share, shares in thousands) | 2026 |  | 2025 |  | 2026 |  | 2025
Income available to common shareholders: |  |  |  |  |  |  |
Net income | $ | 818 |  |  | $ | 716 |  |  | $ | 1,482 |  |  | $ | 1,300 |
Less: Preferred stock dividends | (35) |  |  | (35) |  |  | (78) |  |  | (71) |
Net income available to common equity | 783 |  |  | 681 |  |  | 1,404 |  |  | 1,229 |
Less: Income attributable to unvested stock-based compensation awards | (2) |  |  | (2) |  |  | (3) |  |  | (3) |
Net income available to common shareholders | $ | 781 |  |  | $ | 679 |  |  | $ | 1,401 |  |  | $ | 1,226 |
Weighted-average shares outstanding: |  |  |  |  |  |  |
Common shares outstanding and unvested stock-based compensation awards | 146,200 |  |  | 159,559 |  |  | 147,835 |  |  | 162,025
Less: Unvested stock-based compensation awards | (309) |  |  | (338) |  |  | (286) |  |  | (324)
Weighted-average shares outstanding | 145,891 |  |  | 159,221 |  |  | 147,549 |  |  | 161,701
Basic earnings per common share | $ | 5.35 |  |  | $ | 4.26 |  |  | $ | 9.49 |  |  | $ | 7.58 |
The computations of diluted earnings per common share follow.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in millions, except per share, shares in thousands) | 2026 |  | 2025 |  | 2026 |  | 2025
Net income available to common equity | $ | 783 |  |  | $ | 681 |  |  | $ | 1,404 |  |  | $ | 1,229 |
Less: Income attributable to unvested stock-based compensation awards | (2) |  |  | (2) |  |  | (3) |  |  | (3) |
Net income available to common shareholders | $ | 781 |  |  | $ | 679 |  |  | $ | 1,401 |  |  | $ | 1,226 |
Adjusted weighted-average shares outstanding: |  |  |  |  |  |  |
Common shares outstanding and unvested stock-based compensation awards | 146,200 |  |  | 159,559 |  |  | 147,835 |  |  | 162,025
Less: Unvested stock-based compensation awards | (309) |  |  | (338) |  |  | (286) |  |  | (324)
Plus: Incremental shares from assumed conversion of stock-based compensation awards | 867 |  |  | 784 |  |  | 875 |  |  | 810
Adjusted weighted-average shares outstanding (a) | 146,758 |  |  | 160,005 |  |  | 148,424 |  | 162,511
Diluted earnings per common share | $ | 5.32 |  |  | $ | 4.24 |  |  | $ | 9.44 |  |  | $ | 7.55 |
__________________________________________________________________________________ (a)Stock-based compensation awards to purchase common stock of M&T representing common shares of 0.1 million in each of the three and six month periods ended June 30, 2026, respectively, and common shares of 0.2 million in each of the three and six month periods ended June 30, 2025, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive.

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