MTB 8-K
M&T Bank Corp (MTB)
8-K
2026-09-28
For: 2026-09-28
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Added on
September 28, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): September 28, 2026
___________________________________
(Exact name of registrant as specified in its charter)
___________________________________
(State or other jurisdiction of incorporation) | ||||||||
(Commission File Number) | (I.R.S. Employer Identification Number) | |||||||
(Address of principal executive offices) | (Zip Code) | |||||||
Registrant's telephone number, including area code: ( | ||||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act: | ||||||||
Title of Each Class | Trading Symbols | Name of Each Exchange on Which Registered | ||||||
Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H | ||||||||
Perpetual Fixed Rate Non-Cumulative Preferred Stock, Series J | ||||||||
Preferred Stock, Series K | ||||||||
Preferred Stock, Series L | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
Effective for the third quarter of 2026, M&T Bank Corporation ("M&T") will make certain changes and reclassifications to Other income categories presented in its Consolidated Statement of Income. These changes, a description of which follows, will have no impact on M&T's total Other income, Income before taxes, Net income or earnings per common share.
•Trust and investment services income will be primarily comprised of Trust income and Brokerage services income which were previously reported as separate Other income categories.
•There will be no changes to Mortgage banking revenues.
•Service charges on deposit accounts will exclude debit card interchange revenues.
•Card revenues will be primarily comprised of credit card interchange and merchant discount revenue previously included in Other revenues from operations and debit card interchange revenues previously included in Service charges on deposit accounts.
•Letter of credit and other credit-related fees were previously included in Other revenues from operations.
•Capital markets and advisory revenues will include a former category, Trading account and other non-hedging derivative gains, as well as loan syndication, underwriting and advisory fees previously included in Other revenues from operations.
•There will be no changes to Gain (loss) on bank investment securities.
•Other revenues from operations will continue to include bank owned life insurance revenue, equipment operating lease income, distributions from M&T's investment in Bayview Lending Group LLC ("BLG") and other fees and revenues.
Also effective for the third quarter of 2026, M&T will begin separately presenting loans held for sale from loans held for investment in its Consolidated Balance Sheet and its Average Balance Sheet and Taxable-equivalent Rates disclosures. Accordingly, annualized taxable-equivalent rates for each impacted loan category and certain loan-based credit quality ratios will exclude loans held for sale.
As of September 28, 2026 , M&T is providing unaudited supplemental historical financial information that conforms the historical financial statement presentation to the new financial statement presentation.
The information in Item 7.01 of this Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of M&T under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01 - Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
Exhibit No. | Exhibit Description | |||||||
99.1 | ||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: | By: | /s/ Daryl N. Bible | |||||||||||||||
Daryl N. Bible | |||||||||||||||||
Senior Executive Vice President and Chief Financial Officer | |||||||||||||||||
Exhibit 99.1
Effective for the third quarter of 2026, M&T Bank Corporation will make certain changes and reclassifications to the presentation of its Consolidated Statement of Income, its Consolidated Balance Sheet and its Average Balance Sheet and Taxable-equivalent Rates disclosures. The following unaudited supplemental historical financial information reflects these changes and reclassifications, which have been applied retrospectively to all periods presented. This information is being provided for illustrative purposes only.
Unaudited Supplemental Historical Consolidated Statement of Income Information
| Three Months Ended | |||||||||||||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | March 31, | ||||||||||||||||||||||||||||||
| (Dollars in millions) | 2026 | 2026 | 2025 | 2025 | 2025 | 2025 | |||||||||||||||||||||||||||||
| Interest income | $ | 2,620 | $ | 2,536 | $ | 2,637 | $ | 2,680 | $ | 2,609 | $ | 2,560 | |||||||||||||||||||||||
| Interest expense | 828 | 784 | 858 | 919 | 896 | 865 | |||||||||||||||||||||||||||||
| Net interest income | 1,792 | 1,752 | 1,779 | 1,761 | 1,713 | 1,695 | |||||||||||||||||||||||||||||
| Provision for credit losses | 120 | 140 | 125 | 125 | 125 | 130 | |||||||||||||||||||||||||||||
| Net interest income after provision for credit losses | 1,672 | 1,612 | 1,654 | 1,636 | 1,588 | 1,565 | |||||||||||||||||||||||||||||
| Other income: | |||||||||||||||||||||||||||||||||||
| Trust and investment services income | 235 | 219 | 220 | 217 | 216 | 210 | |||||||||||||||||||||||||||||
| Mortgage banking revenues | 127 | 127 | 155 | 147 | 130 | 118 | |||||||||||||||||||||||||||||
| Service charges on deposit accounts | 107 | 106 | 105 | 105 | 102 | 100 | |||||||||||||||||||||||||||||
| Card revenues | 89 | 78 | 87 | 90 | 91 | 76 | |||||||||||||||||||||||||||||
| Letter of credit and credit-related fees | 44 | 42 | 47 | 45 | 44 | 43 | |||||||||||||||||||||||||||||
| Capital markets and advisory revenues | 41 | 36 | 31 | 35 | 33 | 21 | |||||||||||||||||||||||||||||
| Gain (loss) on bank investment securities | 2 | 4 | 1 | 1 | — | — | |||||||||||||||||||||||||||||
| Other revenues from operations | 95 | 77 | 50 | 112 | 67 | 43 | |||||||||||||||||||||||||||||
| Total other income | 740 | 689 | 696 | 752 | 683 | 611 | |||||||||||||||||||||||||||||
| Other expense: | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 826 | 914 | 809 | 833 | 813 | 887 | |||||||||||||||||||||||||||||
| Outside data processing and software | 154 | 144 | 146 | 138 | 138 | 136 | |||||||||||||||||||||||||||||
| Equipment and net occupancy | 129 | 133 | 134 | 129 | 130 | 132 | |||||||||||||||||||||||||||||
| Professional and other services | 89 | 93 | 105 | 81 | 86 | 84 | |||||||||||||||||||||||||||||
| FDIC assessments | 18 | 23 | (8) | 13 | 22 | 23 | |||||||||||||||||||||||||||||
| Advertising and marketing | 27 | 21 | 32 | 23 | 25 | 22 | |||||||||||||||||||||||||||||
| Amortization of core deposit and other intangible assets | 7 | 9 | 10 | 10 | 9 | 13 | |||||||||||||||||||||||||||||
| Other costs of operations | 99 | 101 | 151 | 136 | 113 | 118 | |||||||||||||||||||||||||||||
| Total other expense | 1,349 | 1,438 | 1,379 | 1,363 | 1,336 | 1,415 | |||||||||||||||||||||||||||||
| Income before taxes | 1,063 | 863 | 971 | 1,025 | 935 | 761 | |||||||||||||||||||||||||||||
| Income taxes | 245 | 199 | 212 | 233 | 219 | 177 | |||||||||||||||||||||||||||||
| Net income | $ | 818 | $ | 664 | $ | 759 | $ | 792 | $ | 716 | $ | 584 | |||||||||||||||||||||||
1
Exhibit 99.1
Unaudited Supplemental Historical Consolidated Statement of Income Information
| Six Months Ended | Nine Months Ended | Year Ended | |||||||||||||||||||||||||||
| June 30, | June 30, | September 30, | December 31, | December 31, | |||||||||||||||||||||||||
| (Dollars in millions) | 2026 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Interest income | $ | 5,156 | $ | 5,169 | $ | 7,849 | $ | 10,486 | $ | 11,026 | |||||||||||||||||||
| Interest expense | 1,612 | 1,761 | 2,680 | 3,538 | 4,174 | ||||||||||||||||||||||||
| Net interest income | 3,544 | 3,408 | 5,169 | 6,948 | 6,852 | ||||||||||||||||||||||||
| Provision for credit losses | 260 | 255 | 380 | 505 | 610 | ||||||||||||||||||||||||
| Net interest income after provision for credit losses | 3,284 | 3,153 | 4,789 | 6,443 | 6,242 | ||||||||||||||||||||||||
| Other income: | |||||||||||||||||||||||||||||
| Trust and investment services income | 454 | 426 | 643 | 863 | 806 | ||||||||||||||||||||||||
| Mortgage banking revenues | 254 | 248 | 395 | 550 | 436 | ||||||||||||||||||||||||
| Service charges on deposit accounts | 213 | 202 | 307 | 412 | 375 | ||||||||||||||||||||||||
| Card revenues | 167 | 167 | 257 | 344 | 331 | ||||||||||||||||||||||||
| Letter of credit and credit-related fees | 86 | 87 | 132 | 179 | 164 | ||||||||||||||||||||||||
| Capital markets and advisory revenues | 77 | 54 | 89 | 120 | 84 | ||||||||||||||||||||||||
| Gain (loss) on bank investment securities | 6 | — | 1 | 2 | 10 | ||||||||||||||||||||||||
| Other revenues from operations | 172 | 110 | 222 | 272 | 221 | ||||||||||||||||||||||||
| Total other income | 1,429 | 1,294 | 2,046 | 2,742 | 2,427 | ||||||||||||||||||||||||
| Other expense: | |||||||||||||||||||||||||||||
| Salaries and employee benefits | 1,740 | 1,700 | 2,533 | 3,342 | 3,162 | ||||||||||||||||||||||||
| Outside data processing and software | 298 | 274 | 412 | 558 | 492 | ||||||||||||||||||||||||
| Equipment and net occupancy | 262 | 262 | 391 | 525 | 512 | ||||||||||||||||||||||||
| Professional and other services | 182 | 170 | 251 | 356 | 344 | ||||||||||||||||||||||||
| FDIC assessments | 41 | 45 | 58 | 50 | 146 | ||||||||||||||||||||||||
| Advertising and marketing | 48 | 47 | 70 | 102 | 104 | ||||||||||||||||||||||||
| Amortization of core deposit and other intangible assets | 16 | 22 | 32 | 42 | 53 | ||||||||||||||||||||||||
| Other costs of operations | 200 | 231 | 367 | 518 | 546 | ||||||||||||||||||||||||
| Total other expense | 2,787 | 2,751 | 4,114 | 5,493 | 5,359 | ||||||||||||||||||||||||
| Income before taxes | 1,926 | 1,696 | 2,721 | 3,692 | 3,310 | ||||||||||||||||||||||||
| Income taxes | 444 | 396 | 629 | 841 | 722 | ||||||||||||||||||||||||
| Net income | $ | 1,482 | $ | 1,300 | $ | 2,092 | $ | 2,851 | $ | 2,588 | |||||||||||||||||||
2
Exhibit 99.1
Unaudited Supplemental Historical Other Revenues from Operations
| Three Months Ended | |||||||||||||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | March 31, | ||||||||||||||||||||||||||||||
| (Dollars in millions) | 2026 | 2026 | 2025 | 2025 | 2025 | 2025 | |||||||||||||||||||||||||||||
| Bank owned life insurance revenue | $ | 20 | $ | 18 | $ | 19 | $ | 21 | $ | 17 | $ | 18 | |||||||||||||||||||||||
| Equipment operating lease income | 11 | 11 | 11 | 12 | 14 | 11 | |||||||||||||||||||||||||||||
| BLG income | 47 | 33 | — | 20 | — | — | |||||||||||||||||||||||||||||
| Earnout payment related to 2023 sale of Collective Investment Trust business | — | — | — | 28 | — | — | |||||||||||||||||||||||||||||
| Gain on sale of out-of-footprint loan portfolio | — | — | — | — | 15 | — | |||||||||||||||||||||||||||||
| Gain on sale of institutional services subsidiary | — | — | — | — | 10 | — | |||||||||||||||||||||||||||||
| Other | 17 | 15 | 20 | 31 | 11 | 14 | |||||||||||||||||||||||||||||
| Total other revenues from operations | $ | 95 | $ | 77 | $ | 50 | $ | 112 | $ | 67 | $ | 43 | |||||||||||||||||||||||
| Six Months Ended | Nine Months Ended | Year Ended | |||||||||||||||||||||||||||
| June 30, | June 30, | September 30, | December 31, | December 31, | |||||||||||||||||||||||||
| (Dollars in millions) | 2026 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||
| Bank owned life insurance revenue | $ | 38 | $ | 35 | $ | 56 | $ | 75 | $ | 65 | |||||||||||||||||||
| Equipment operating lease income | 22 | 25 | 37 | 48 | 44 | ||||||||||||||||||||||||
| BLG income | 80 | — | 20 | 20 | 48 | ||||||||||||||||||||||||
| Earnout payment related to 2023 sale of Collective Investment Trust business | — | — | 28 | 28 | — | ||||||||||||||||||||||||
| Gain on sale of out-of-footprint loan portfolio | — | 15 | 15 | 15 | — | ||||||||||||||||||||||||
| Gain on sale of institutional services subsidiary | — | 10 | 10 | 10 | — | ||||||||||||||||||||||||
| Other | 32 | 25 | 56 | 76 | 64 | ||||||||||||||||||||||||
| Total other revenues from operations | $ | 172 | $ | 110 | $ | 222 | $ | 272 | $ | 221 | |||||||||||||||||||
3
Exhibit 99.1
Unaudited Supplemental Historical Consolidated Balance Sheet Information
| June 30, | March 31, | December 31, | September 30, | June 30, | March 31, | December 31, | |||||||||||||||||||||||||||||||||||
| (Dollars in millions) | 2026 | 2026 | 2025 | 2025 | 2025 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | $ | 1,939 | $ | 1,903 | $ | 1,701 | $ | 1,950 | $ | 2,128 | $ | 2,109 | $ | 1,909 | |||||||||||||||||||||||||||
| Interest-bearing deposits at banks | 15,499 | 14,445 | 17,068 | 16,751 | 19,297 | 20,656 | 18,873 | ||||||||||||||||||||||||||||||||||
| Investment securities | 38,374 | 38,621 | 36,649 | 36,864 | 35,568 | 35,137 | 34,051 | ||||||||||||||||||||||||||||||||||
| Loans held for sale | 663 | 861 | 1,067 | 629 | 625 | 1,140 | 566 | ||||||||||||||||||||||||||||||||||
| Loans: | |||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 65,995 | 65,216 | 63,406 | 61,863 | 61,642 | 60,520 | 61,436 | ||||||||||||||||||||||||||||||||||
| Real estate - commercial | 24,233 | 22,986 | 23,335 | 23,768 | 24,182 | 24,982 | 26,454 | ||||||||||||||||||||||||||||||||||
| Real estate - residential | 25,128 | 24,530 | 24,433 | 24,335 | 23,895 | 23,105 | 22,955 | ||||||||||||||||||||||||||||||||||
| Consumer | 27,174 | 26,321 | 26,461 | 26,379 | 25,772 | 24,827 | 24,170 | ||||||||||||||||||||||||||||||||||
Total loans | 142,530 | 139,053 | 137,635 | 136,345 | 135,491 | 133,434 | 135,015 | ||||||||||||||||||||||||||||||||||
| Allowance for loan losses | (2,176) | (2,136) | (2,116) | (2,161) | (2,197) | (2,200) | (2,184) | ||||||||||||||||||||||||||||||||||
| Net loans | 140,354 | 136,917 | 135,519 | 134,184 | 133,294 | 131,234 | 132,831 | ||||||||||||||||||||||||||||||||||
| Goodwill | 8,465 | 8,465 | 8,465 | 8,465 | 8,465 | 8,465 | 8,465 | ||||||||||||||||||||||||||||||||||
| Core deposit and other intangible assets | 48 | 55 | 64 | 74 | 84 | 93 | 94 | ||||||||||||||||||||||||||||||||||
| Other assets | 13,919 | 13,469 | 12,977 | 12,360 | 12,123 | 11,487 | 11,316 | ||||||||||||||||||||||||||||||||||
| Total assets | $ | 219,261 | $ | 214,736 | $ | 213,510 | $ | 211,277 | $ | 211,584 | $ | 210,321 | $ | 208,105 | |||||||||||||||||||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | $ | 48,295 | $ | 45,892 | $ | 46,509 | $ | 44,994 | $ | 47,485 | $ | 49,051 | $ | 46,020 | |||||||||||||||||||||||||||
| Interest-bearing deposits | 120,590 | 117,849 | 120,400 | 118,432 | 116,968 | 116,358 | 115,075 | ||||||||||||||||||||||||||||||||||
| Total deposits | 168,885 | 163,741 | 166,909 | 163,426 | 164,453 | 165,409 | 161,095 | ||||||||||||||||||||||||||||||||||
| Short-term borrowings | 4,614 | 7,851 | 2,149 | 2,059 | 2,071 | 1,573 | 1,060 | ||||||||||||||||||||||||||||||||||
| Long-term borrowings | 13,568 | 11,175 | 10,911 | 12,928 | 12,380 | 10,496 | 12,605 | ||||||||||||||||||||||||||||||||||
| Accrued interest and other liabilities | 4,248 | 3,997 | 4,364 | 4,136 | 4,155 | 3,852 | 4,318 | ||||||||||||||||||||||||||||||||||
| Total liabilities | 191,315 | 186,764 | 184,333 | 182,549 | 183,059 | 181,330 | 179,078 | ||||||||||||||||||||||||||||||||||
| Shareholders' equity: | |||||||||||||||||||||||||||||||||||||||||
| Preferred | 2,434 | 2,434 | 2,834 | 2,394 | 2,394 | 2,394 | 2,394 | ||||||||||||||||||||||||||||||||||
| Common | 25,512 | 25,538 | 26,343 | 26,334 | 26,131 | 26,597 | 26,633 | ||||||||||||||||||||||||||||||||||
| Total shareholders' equity | 27,946 | 27,972 | 29,177 | 28,728 | 28,525 | 28,991 | 29,027 | ||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 219,261 | $ | 214,736 | $ | 213,510 | $ | 211,277 | $ | 211,584 | $ | 210,321 | $ | 208,105 | |||||||||||||||||||||||||||
| LOAN RATIOS | |||||||||||||||||||||||||||||||||||||||||
| Allowance for loan losses to total loans | 1.53 | % | 1.54 | % | 1.54 | % | 1.59 | % | 1.62 | % | 1.65 | % | 1.62 | % | |||||||||||||||||||||||||||
| Nonaccrual loans to total loans | .85 | .89 | .91 | 1.11 | 1.16 | 1.15 | 1.25 | ||||||||||||||||||||||||||||||||||
4
Exhibit 99.1
In conjunction with the implementation of a new general ledger platform during the second quarter of 2026, the Company modified its methodology for calculating annualized taxable-equivalent rates for certain earning assets and interest-bearing liabilities, including certain average deposit balances. Previously reported amounts have been adjusted to conform to the current presentation.
Unaudited Supplemental Historical Average Balance Sheet and Taxable-equivalent Rates Information
| Three Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | March 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026 | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in millions) | Balance | Rate | Balance | Rate | Balance | Rate | Balance | Rate | Balance | Rate | Balance | Rate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits at banks | $ | 15,061 | 3.72 | % | $ | 16,231 | 3.71 | % | $ | 17,964 | 3.98 | % | $ | 17,739 | 4.43 | % | $ | 19,698 | 4.47 | % | $ | 19,695 | 4.48 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities | 38,728 | 4.29 | 37,845 | 4.22 | 36,705 | 4.19 | 36,559 | 4.15 | 35,335 | 3.80 | 34,480 | 3.97 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans held for sale | 777 | 5.50 | 1,002 | 5.39 | 1,058 | 5.52 | 637 | 5.85 | 1,096 | 8.12 | 505 | 5.69 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 65,883 | 6.00 | 63,622 | 6.00 | 62,190 | 6.22 | 61,687 | 6.45 | 60,991 | 6.40 | 61,018 | 6.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real estate - commercial | 23,221 | 6.29 | 23,025 | 6.14 | 23,507 | 6.32 | 23,982 | 6.45 | 24,473 | 6.32 | 25,966 | 6.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real estate - residential | 24,827 | 4.63 | 24,468 | 4.54 | 24,368 | 4.57 | 24,122 | 4.57 | 23,493 | 4.50 | 23,003 | 4.43 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer | 26,719 | 6.46 | 26,306 | 6.48 | 26,477 | 6.58 | 26,099 | 6.60 | 25,354 | 6.57 | 24,352 | 6.57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans | 140,650 | 5.89 | 137,421 | 5.85 | 136,542 | 6.01 | 135,890 | 6.15 | 134,311 | 6.09 | 134,339 | 6.05 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other | — | — | 95 | 3.49 | 97 | 3.40 | 95 | 3.45 | 95 | 3.47 | 97 | 3.47 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total earning assets | 195,216 | 5.40 | 192,594 | 5.35 | 192,366 | 5.47 | 190,920 | 5.60 | 190,535 | 5.51 | 189,116 | 5.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | 8,465 | 8,465 | 8,465 | 8,465 | 8,465 | 8,465 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Core deposit and other intangible assets | 51 | 59 | 69 | 79 | 89 | 92 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other assets | 12,800 | 12,710 | 11,991 | 11,589 | 11,172 | 10,648 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 216,532 | $ | 213,828 | $ | 212,891 | $ | 211,053 | $ | 210,261 | $ | 208,321 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Savings and interest-checking deposits | $ | 105,752 | 1.81 | % | $ | 106,570 | 1.84 | % | $ | 107,257 | 2.04 | % | $ | 104,630 | 2.23 | % | $ | 103,934 | 2.24 | % | $ | 101,536 | 2.20 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 13,808 | 3.02 | 13,059 | 3.02 | 13,499 | 3.20 | 13,890 | 3.40 | 14,171 | 3.48 | 14,107 | 3.57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 119,560 | 1.95 | 119,629 | 1.97 | 120,756 | 2.17 | 118,520 | 2.36 | 118,105 | 2.39 | 115,643 | 2.37 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-term borrowings | 8,016 | 3.86 | 5,695 | 3.86 | 2,064 | 4.21 | 2,844 | 4.50 | 3,327 | 4.49 | 2,869 | 4.52 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term borrowings | 12,778 | 5.33 | 11,064 | 5.41 | 12,555 | 5.56 | 12,789 | 5.64 | 10,936 | 5.70 | 11,285 | 5.58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 140,354 | 2.36 | 136,388 | 2.32 | 135,375 | 2.52 | 134,153 | 2.72 | 132,368 | 2.71 | 129,797 | 2.70 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 43,964 | 44,547 | 44,184 | 44,056 | 45,153 | 45,436 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | 4,275 | 4,245 | 4,362 | 4,261 | 4,074 | 4,090 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 188,593 | 185,180 | 183,921 | 182,470 | 181,595 | 179,323 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders' equity | 27,939 | 28,648 | 28,970 | 28,583 | 28,666 | 28,998 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 216,532 | $ | 213,828 | $ | 212,891 | $ | 211,053 | $ | 210,261 | $ | 208,321 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest spread | 3.04 | 3.03 | 2.95 | 2.88 | 2.80 | 2.80 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contribution of interest-free funds | .66 | .67 | .75 | .81 | .82 | .85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin | 3.70 | % | 3.70 | % | 3.70 | % | 3.69 | % | 3.62 | % | 3.65 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5
Exhibit 99.1
Unaudited Supplemental Historical Average Balance Sheet and Taxable-equivalent Rates Information
| Six Months Ended | Nine Months Ended | Year Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| June 30, | June 30, | September 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026 | 2025 | 2025 | 2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in millions) | Balance | Rate | Balance | Rate | Balance | Rate | Balance | Rate | Balance | Rate | |||||||||||||||||||||||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits at banks | $ | 15,642 | 3.72 | % | $ | 19,697 | 4.48 | % | $ | 19,037 | 4.46 | % | $ | 18,767 | 4.35 | % | $ | 27,244 | 5.33 | % | |||||||||||||||||||||||||||||||||||||||
| Investment securities | 38,289 | 4.25 | 34,909 | 3.88 | 35,466 | 3.98 | 35,778 | 4.03 | 30,755 | 3.64 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Loans held for sale | 888 | 5.44 | 805 | 7.38 | 750 | 6.92 | 828 | 6.47 | 637 | 6.05 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 64,759 | 6.00 | 61,004 | 6.38 | 61,234 | 6.41 | 61,475 | 6.36 | 58,821 | 6.89 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Real estate - commercial | 23,124 | 6.21 | 25,213 | 6.29 | 24,796 | 6.34 | 24,471 | 6.34 | 29,885 | 6.43 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Real estate - residential | 24,648 | 4.59 | 23,249 | 4.46 | 23,543 | 4.50 | 23,751 | 4.52 | 22,855 | 4.34 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer | 26,514 | 6.47 | 24,856 | 6.57 | 25,275 | 6.58 | 25,578 | 6.58 | 22,519 | 6.63 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans | 139,045 | 5.87 | 134,322 | 6.07 | 134,848 | 6.09 | 135,275 | 6.07 | 134,080 | 6.31 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Other | 47 | — | 96 | 3.47 | 96 | 3.46 | 96 | 3.45 | 102 | 3.42 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total earning assets | 193,911 | 5.38 | 189,829 | 5.51 | 190,197 | 5.54 | 190,744 | 5.52 | 192,818 | 5.74 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | 8,465 | 8,465 | 8,465 | 8,465 | 8,465 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Core deposit and other intangible assets | 55 | 90 | 86 | 82 | 120 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other assets | 12,755 | 10,912 | 11,141 | 11,354 | 9,817 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 215,186 | $ | 209,296 | $ | 209,889 | $ | 210,645 | $ | 211,220 | |||||||||||||||||||||||||||||||||||||||||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Savings and interest-checking deposits | $ | 106,159 | 1.82 | % | $ | 102,741 | 2.22 | % | $ | 103,378 | 2.22 | % | $ | 104,356 | 2.18 | % | $ | 97,788 | 2.57 | % | |||||||||||||||||||||||||||||||||||||||
| Time deposits | 13,435 | 3.02 | 14,140 | 3.52 | 14,056 | 3.48 | 13,915 | 3.41 | 18,126 | 4.31 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 119,594 | 1.96 | 116,881 | 2.38 | 117,434 | 2.37 | 118,271 | 2.32 | 115,914 | 2.84 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Short-term borrowings | 6,862 | 3.86 | 3,100 | 4.51 | 3,013 | 4.50 | 2,774 | 4.45 | 4,440 | 5.45 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term borrowings | 11,926 | 5.37 | 11,109 | 5.64 | 11,675 | 5.64 | 11,897 | 5.61 | 11,083 | 5.76 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 138,382 | 2.35 | 131,090 | 2.70 | 132,122 | 2.71 | 132,942 | 2.66 | 131,437 | 3.17 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 44,254 | 45,294 | 44,877 | 44,702 | 47,260 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | 4,259 | 4,081 | 4,142 | 4,197 | 4,471 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 186,895 | 180,465 | 181,141 | 181,841 | 183,168 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders' equity | 28,291 | 28,831 | 28,748 | 28,804 | 28,052 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders' equity | $ | 215,186 | $ | 209,296 | $ | 209,889 | $ | 210,645 | $ | 211,220 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest spread | 3.03 | 2.81 | 2.83 | 2.86 | 2.57 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Contribution of interest-free funds | .67 | .83 | .82 | .81 | 1.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin | 3.70 | % | 3.64 | % | 3.65 | % | 3.67 | % | 3.58 | % | |||||||||||||||||||||||||||||||||||||||||||||||||
6