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v3.26.1

Shareholders' equity | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
Shareholders' equity | 6. Shareholders' equity M&T is authorized to issue 20,000,000 shares of preferred stock with a $1.00 par value per share. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference, but have no general voting rights. Notwithstanding M&T’s option to redeem the shares, if an event occurs such that the shares no longer qualify as Tier 1 capital, M&T may redeem all of the shares within 90 days following that occurrence. Issued and outstanding preferred stock of M&T as of June 30, 2026 and December 31, 2025 is presented below.
(Dollars in millions, except per share) | Shares Issued and Outstanding |  | Liquidation Preference Per Share |  | Issuance Date |  | Earliest Redemption Date |  | Annual Dividend Rate |  | Carrying Amount |  | Dividends Per Share |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Three Months Ended June 30, |  | Six Months Ended June 30, |  |
Series | June 30, 2026 |  | December 31, 2025 |  |  |  |  |  |  |  |  |  | June 30, 2026 |  | December 31, 2025 |  | 2026 |  | 2025 |  | 2026 |  | 2025 |  |
Series F (a) | 50,000 |  |  | 50,000 |  |  | $ | 10,000 |  |  | 10/28/2016 |  | 11/1/2026 |  | 5.125 | % |  | $ | 500 |  |  | $ | 500 |  |  | $ | 128.13 |  |  | $ | 128.13 |  |  | $ | 256.25 |  |  | $ | 256.25 |  |  |
Series G (b) | — |  | 40,000 |  | 10,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 400 |  |  | — |  |  | 182.60 |  |  | 182.60 |  |  | 365.20 |  |  |
Series H (c) | 10,000,000 |  | 10,000,000 |  | 25 |  |  | 4/1/2022 |  | 4/1/2027 |  | 5.625 |  |  | 261 |  |  | 261 |  |  | 0.35 |  |  | 0.35 |  |  | 0.70 |  |  | 0.70 |  |  |
Series I (d) | 50,000 |  | 50,000 |  | 10,000 |  |  | 8/17/2021 |  | 9/1/2026 |  | 3.500 |  |  | 500 |  |  | 500 |  |  | 87.50 |  |  | 87.50 |  |  | 175.00 |  |  | 175.00 |  |  |
Series J (e) | 75,000 |  | 75,000 |  | 10,000 |  |  | 5/13/2024 |  | 6/15/2029 |  | 7.500 |  |  | 733 |  |  | 733 |  |  | 187.50 |  |  | 187.50 |  |  | 375.00 |  |  | 375.00 |  |  |
Series K (f) | 45,000 |  | 45,000 |  | 10,000 |  |  | 10/31/2025 |  | 12/15/2030 |  | 6.350 |  |  | 440 |  |  | 440 |  |  | 158.75 |  |  | — |  |  | 317.50 |  |  | — |  |  |
Total | 10,220,000 |  | 10,260,000 |  |  |  |  |  |  |  |  |  | $ | 2,434 |  |  | $ | 2,834 |  |  |  |  |  |  |  |  |  |  |
__________________________________________________________________________________ (a)Dividends, if declared, are paid semi-annually at a rate of 5.125% through October 31, 2026 and thereafter will be paid quarterly at a rate of the three-month SOFR plus 378 basis points. (b)On February 1, 2026, M&T redeemed all outstanding shares of the Series G Preferred Stock at par value. (c)Dividends, if declared, are paid quarterly at a rate of 5.625% through December 14, 2026 and thereafter will be paid quarterly at a rate of the three-month SOFR rate plus 428 basis points. (d)Dividends, if declared, are paid semi-annually at a rate of 3.5% through August 31, 2026. On September 1, 2026 and at each subsequent five year anniversary date therefrom the dividend rate will reset at a rate of the five-year U.S. Treasury rate plus 2.679%. (e)Dividends, if declared, are paid quarterly at a rate of 7.5%. (f)Dividends, if declared, are paid quarterly at a rate of 6.35%. In July 2026 M&T issued 60,000 shares of Perpetual Non-cumulative Preferred Stock Series L, with a liquidation preference of $10,000 per share. Holders of the Series L preferred stock are entitled to receive, if declared, dividends at an annual rate of 6.625%, payable quarterly in arrears until redemption. The Series L preferred stock may be redeemed at M&T's option on any dividend payment date on or after September 15, 2031 or at any time within 90 days following an event whereby the shares no longer qualify as Tier 1 capital.

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