On this page of StockholderLetter.com we present the latest annual shareholder letter from M&T BANK CORP — ticker symbol MTB. Reading current and past MTB letters to shareholders can bring important insights into the investment thesis.

 •  3/10/2026 Letter Continued (Full PDF)
 •  3/7/2023 MTB Stockholder Letter
 •  3/5/2024 MTB Stockholder Letter
 •  3/4/2025 MTB Stockholder Letter
 •  More "Banking & Savings" Category Stockholder Letters
 •  MTB Benford's Law Stock Score = 99

MTB Shareholder/Stockholder Letter Transcript:

M &T B A N K C O R P O R AT I O N
2025 MES SAGE TO SHAREHOLDERS

has always demonstrated a strong dedication to the
communities we serve. And today, we are also rededicating our
efforts to creating the tomorrow that our clients and employees
deserve. While no one can be certain what tomorrow might bring,
we do know this: We are a forward-thinking institution ready to
leave our mark on the future of banking. A new day is dawning for
M&T Bank, and because of the strong foundation we have across
our footprint, we can   t help but feel hopeful.
The artwork on the cover began with a mapping technique that represents the location of every M&T Bank
branch. By layering various shapes and colors over M&T Bank   s physical footprint, the artist, Destiny Palmer,
depicts these themes of transformation, growth and forward movement     all rooted in connection.

Ready
for
tomorrow.


The concept of connection
and use of this mapping
technique has been brought
to life on the cover of the 2025 message to
shareholders by Destiny Palmer, an artist who
TA B L E O F
CONTENTS
explores how paint, history and color intersect.
Palmer focuses primarily on public art pieces
and has worked with various communities
to create both traditional and digital murals.
Some of these murals can be found at the
Gallivan Community Center in Mattapan, MA,
and Kendall Square in Cambridge, MA.



 3/10/2026 Letter Continued (Full PDF)