BUFFALO,
N.Y., Jan. 22, 2025 /PRNewswire/ -- M&T Bank
Corporation ("M&T") (NYSE:MTB) announced that its Board of
Directors authorized a share repurchase program to repurchase up to
$4.0 billion of M&T common stock,
$0.50 par value per share, on the
open market or in privately negotiated transactions. The
authorization replaces, and terminates effective January 22, 2025, the prior $3.0 billion share repurchase program authorized
by the Board of Directors in July
2022.
Daryl Bible, M&T's Chief
Financial Officer, noted: "The Board's decision underscores our
dedication to managing shareholders' capital responsibly, in line
with our established practices. Our primary focus in capital
allocation is to support our customers and the communities we serve
while continuing to invest in our businesses. Our strong earnings
and solid capital position allow us to meet these essential goals
and return surplus capital to our investors."
The exact number of shares, timing for such repurchases, and the
price and terms at and on which such repurchases are to be made
will be at the discretion of M&T and subject to all applicable
regulatory limitations.
About M&T Bank
M&T is a financial holding company headquartered in
Buffalo, New York. M&T's
principal banking subsidiary, M&T Bank, provides banking
products and services with a branch and ATM network spanning the
eastern U.S. from Maine to
Virginia and Washington, D.C. Trust-related services are
provided in select markets in the U.S. and abroad by M&T's
Wilmington Trust-affiliated companies and by M&T Bank. For more
information on M&T Bank, visit www.mtb.com.
Equal Housing Lender. © 2025
M&T Bank. NMLS #381076. Member FDIC. All Rights
Reserved.
Investor Contact:
Brian
Klock
(716) 842-5138
Media Contact:
Frank Lentini
(929) 651-0447
Forward-Looking Statements. This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Any statement that does
not describe historical or current facts is a forward-looking
statement, including statements that are based on current
expectations, estimates and projections about the M&T's
business, management's beliefs, and assumptions made by management.
Forward-looking statements are typically identified by words such
as "believe," "expect," "anticipate," "intend," "target,"
"estimate," "continue," or "potential," by future conditional verbs
such as "will," "would," "should," "could," or "may," or by
variations of such words or by similar expressions. These
statements are not guarantees of future performance and involve
certain risks, uncertainties and assumptions which are difficult to
predict. Therefore, actual actions, outcomes and results may differ
materially from what is expressed or forecasted in such
forward-looking statements. M&T provides further detail
regarding risks, uncertainties and other factors that could affect
the outcome of forward-looking statements in its public filings,
including the "risk factors" described in M&T's Form 10-K for
the year ended December 31, 2023, and
subsequent filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date made, and
M&T does not assume any duty, and does not undertake, to update
forward-looking statements.
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SOURCE M&T Bank Corporation
