A Buffalo-based financial holding company, M&T runs its business through two bank subsidiaries—M&T Bank and Wilmington Trust—offering loans, deposits, trust services, and wealth management to consumers, small businesses, and institutions across the northeastern and mid-Atlantic US. It began in 1856 when two Buffalo businessmen sketched out the idea on a train ride, naming their bank the Manufacturers and Traders Trust Company, later shortened to M&T, to serve the region's manufacturers and merchants.
M&T Bank completes $600M preferred stock offering via 24M depositary shares
M&T Bank Corporation completed a public offering of 24,000,000 depositary shares, each representing a 1/400th interest in a share of its new Perpetual 6.625% Non-Cumulative Preferred Stock, Series L, on July 21, 2026.
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The Series L Preferred Stock has a liquidation preference of $10,000 per share (equivalent to $25 per depositary share) and pays noncumulative dividends at 6.625% per annum quarterly, beginning September 15, 2026.
The offering was made under an underwriting agreement dated July 16, 2026, with representatives including BofA Securities, J.P. Morgan Securities, Morgan Stanley, M&T Securities, Raymond James, UBS Securities, and Wells Fargo Securities.
M&T filed a certificate of amendment with the New York State Department of State on July 17, 2026, establishing the rights and preferences of the Series L Preferred Stock.
The Series L Preferred Stock is perpetual with no maturity date and is redeemable at M&T's option on or after September 15, 2031, at $10,000 per share plus declared but unpaid dividends.
3.03 Material Modification to Rights of Security Holders · 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 8.01 Other Events · 9.01 Financial Statements and Exhibits
M&T Bank Corporation elects Jeremy M. Jacobs, Jr. to its Board of Directors
Mr. Jacobs is a director and Chief Executive Officer of Delaware North Companies, Inc.
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On June 16, 2026, M&T Bank Corporation's Board of Directors elected Jeremy M. Jacobs, Jr. as a director.
He was also elected as a director of M&T Bank, M&T's principal banking subsidiary.
As a non-employee director, he will participate in M&T's director compensation program as described in the 2026 proxy statement.
Delaware North and its affiliates have ordinary course credit relationships with M&T Bank on substantially the same terms as comparable loans with other customers.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
M&T Bank closes $500M offering of 5.295% Fixed Rate Reset Subordinated Notes due 2036
The Subordinated Notes were registered under the Securities Act of 1933 via a Form S-3 registration statement (File No. 333-274646).
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On April 20, 2026, M&T Bank Corporation closed a public offering of $500,000,000 aggregate principal amount of 5.295% Fixed Rate Reset Subordinated Notes, Series B, due April 18, 2036.
Squire Patton Boggs (US) LLP provided a legal opinion on the validity of the notes, which is included as an exhibit to the 8-K.
The offering was reported under Item 8.01 as an other event, with the legal opinion and consent filed under Item 9.01.
8.01 Other Events · 9.01 Financial Statements and Exhibits
M&T Bank authorizes $5.0 billion common stock repurchase program
The repurchases may be made on the open market or in privately negotiated transactions, with terms and timing at M&T's discretion and subject to regulatory limitations.
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On March 30, 2026, M&T Bank Corporation announced a new share repurchase program authorizing up to $5.0 billion of its common stock.
The new authorization replaces and terminates the prior $4.0 billion repurchase program authorized in January 2025.
The announcement was made via a press release dated March 30, 2026, filed as Exhibit 99.1 to the Form 8-K.
The event was reported under Item 8.01 (Other Events) as a material corporate action not otherwise required to be reported.
8.01 Other Events · 9.01 Financial Statements and Exhibits