美国制商银行 2024年度报告

Shapingtomorrowtogether. At M&T Bank, together is our foundation. It’s our authentic commitmentto each and every one of our customers. It’s alive in the principles thathave guided us through every market cycle. It’s a reflection of our deepinvolvement in the communities we serve. It’s the defining characteristicof a bank that cares. It’s a thread that connects every aspect of what wedo. Our focus on together not only sets us apart as a brand, it sets usup for success in our mission of unifying communities and helping ourcustomers meet their goals. Table ofContents These aspects have been brought to life on the cover of this year’smessage to shareholders by Ophelia M. Chambliss, an artistoriginally from Chicago, Illinois, who calls York, Pennsylvania,home. Her work is rooted in a desire to represent the humanexperience. In addition to her continuous line drawings andpaintings, she creates public art and murals, as they can be atool to build community and inspire. The cover artwork featuresindividuals united by M&T’s brand symbol: the ampersand. It also features a prominent unifying line—symbolic of the connection we all have with one another.The art is made up of an array of colors and M&T’s signature shades of green are incorporatedthroughout to represent our immersion in each of the markets we serve. This message to shareholders continues the tradition of featuring works of artists with strong connectionsto the communities served by M&T Bank. Financial Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iiThe Letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vOfficers and Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxvii C O N T E N T S The annual meeting of shareholders will take place at 11:00 a.m. EasternTime on April 15, 2025. The meeting will be a virtual annual meetingconducted via live webcast. A N N U A L M E E T I N G M&T Bank Corporation is a bank holding company headquartered inBuffalo, New York, which had assets of $208.1 billion at December 31, 2024.M&T Bank Corporation’s subsidiaries include: P R O F I L E M&T BankWilmington Trust, National AssociationM&T Securities, Inc. M&T Bank has banking offices in New York State, Maryland, New Jersey,Pennsylvania, Delaware, Connecticut, Massachusetts, Maine, Vermont,New Hampshire, Virginia, West Virginia and the District of Columbia.M&T Bank’s subsidiaries include:M&T Realty Capital CorporationWilmington Trust CompanyWilmington Trust Investment Advisors, Inc. s we look back on our 2024 performance, it is clear we deliveredstrong results for our customers, our communities, and our shareholders.And while we are heartened by the progress we have made, it is customaryin these pages to turn a broader lens on both ourselves and our industry,examining not just our own performance, but the manner in which it wasachieved and what we might learn from it.A This year’s performance builds upon a consistent multi-decade-long track record. Whether you look at the past five-, 10- or 20-yearperiods, we outperform the median of our peer banks. This year, as in thepast, we strove to make wise decisions with excess equity, acting in the bestinterests of tomorrow rather than chasing the fleeting returns of today. We operate in an environment in which change is the onlyconstant. In the banking system, the pace of that change is accelerating.Customers expect proactive engagement, technology requires continuedinvestment, and the sources of lending themselves are shifting. In this trying environment, we hold fast to the enduringfundamentals that sustain us: managing liquidity, prudently allocatingcapital, and operating with transparency. These fundamentals are as truefor one regional bank as they are for the entire financial system because,in our interconnected industry, the problems of one can mean problemsfor all. We hope that by highlighting these principles, and by living themourselves, others in our industry might join us. F I N A N C I A L R E S U LT S Financial performance during 2024 was strong by many measures andreflects our focus on working both in our business and on our business,conducting the usual banking activities in support of our customers,while investing in such a way that will not only sustain our relevancebut allow us to continue to grow and prosper. Net operating income for 2024 was $2.63 billion—the secondhighest level in our company’s history. These results were six percentlower when compared to 2023, which was the highest ever earned at M&T.When compared to our 11 regional peer banks in 2023, M&T was the onlybank to post positive growth in diluted earnings per common share. Thismeans that while we did not grow net operating income this year, we werestarting from an elevated level of 2023 earnings. The 13 percent growth innet operati