In Annual Letter, M&T Bank Chairman and CEO René Jones Reflects on the Enduring Fundamentals that Sustain Long-Term Performance

Core Insights - M&T Bank's Chairman and CEO René Jones emphasizes the importance of managing liquidity, prudent capital allocation, and transparency as fundamental principles for the bank's growth and customer service [1] - The bank remains focused on these fundamentals as a guiding force in an evolving industry, recognizing the interconnectedness of banks, credit unions, insurance firms, and private credit providers [1] - Jones expresses appreciation for M&T Bank's employees, highlighting their role in fostering a positive environment for both staff and customers, which is essential for future growth [1] Company Performance - M&T Bank reported strong financial results in 2024, outperforming peer banks [3] - The bank's operating model and persistent approach are credited for its success, with ongoing investments in strategic initiatives aimed at future growth [3] Industry Context - The letter discusses the impact of bank stress tests on the growth of private credit firms, which may create unintended systemic risks [3] - A recommendation is made for the Federal Reserve to introduce new tools that provide liquidity to markets beyond its current scope [3]