M&T Bank Corporation Announces Common Stock Repurchase Program

Core Viewpoint - M&T Bank Corporation has authorized a new share repurchase program to buy back up to $4.0 billion of its common stock, replacing the previous$3.0 billion program from July 2022 [1][2]. Group 1: Share Repurchase Program - The new share repurchase program allows M&T to repurchase shares on the open market or through privately negotiated transactions [1]. - The previous $3.0 billion share repurchase program is terminated effective January 22, 2025 [1]. - The exact number of shares, timing, and terms for the repurchases will be at M&T's discretion and subject to regulatory limitations [2]. Group 2: Management Commentary - Daryl Bible, M&T's Chief Financial Officer, emphasized the company's commitment to responsibly managing shareholders' capital while supporting customers and communities [2]. - The strong earnings and solid capital position of M&T enable the company to return surplus capital to investors while continuing to invest in its business [2]. Group 3: Company Overview - M&T Bank is a financial holding company headquartered in Buffalo, New York, with a banking network across the eastern U.S. [3]. - The principal banking subsidiary, M&T Bank, offers a range of banking products and services, including trust-related services in select markets [3].