M&T Bank Corporation (MTB) Balance Sheet
MTB balance sheet, 2025
December 31, 2025 · U.S. dollars$213.51B assets = $184.33B liabilities + $29.18B equity
Both columns are drawn to the same scale: what MTB owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MTB financial health
Descriptive bands, not a rating. Fiscal 2025.
MTB balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $123.45B2016 | $213.51B2025 | +6.3%/yr | |
| Total liabilities | $106.96B2016 | $184.33B2025 | +6.2%/yr | |
| Shareholders’ equity | $16.49B2016 | $29.18B2025 | +6.5%/yr | |
| Cash & short-term investments | $19.65B2016 | $55.42B2025 | +12.2%/yr | |
| Total debt | $9.82B2016 | $13.06B2025 | +3.2%/yr | |
| Net cash (debt) | $9.83B2016 | $42.36B2025 | +$32.5B | |
| Working capital | −$77.64B2016 | −$118.00B2025 | −$40.4B | |
| Book value per share | $104.812016 | $186.372025 | +6.6%/yr | |
| Debt / equity | 0.602016 | 0.452025 | −0.15 | |
| Shares outstanding | 157.3M2016 | 156.6M2025 | −0.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MTB assets
MTB liabilities and equity
MTB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MTB balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $55.42B | $35.33B | $40.35B | $37.35B | $47.22B | $30.04B | $14.94B | $18.39B | $17.40B | $19.65B |
| Cash & equivalents | $18.77B | $20.78B | $29.80B | $26.48B | $43.21B | $25.22B | $8.62B | $9.71B | $6.50B | $6.32B |
| Short-term investments | $36.65B | $14.45B | $10.44B | $10.75B | $3.96B | $4.82B | $6.32B | $8.68B | $10.90B | $13.33B |
| Receivables | $0 | $0 | $2.81B | $2.58B | $1.10B | $1.25B | $1.41B | $1.41B | $1.43B | $1.42B |
| Inventory | $0 | $0 | −$41.89B | −$11.51B | −$44.08B | −$26.22B | −$9.16B | −$9.95B | −$4.78B | −$3.05B |
| Other current assets | $0 | $0 | $41.89B | $11.51B | $44.08B | $26.22B | $9.16B | $9.95B | $4.78B | $3.05B |
| Total current assets | $55.42B | $35.33B | $43.16B | $39.93B | $48.31B | $31.29B | $16.35B | $19.80B | $18.82B | $21.07B |
| Property, plant & equipment (net) | $1.63B | $1.71B | $1.74B | $1.65B | $1.14B | $1.16B | $1.14B | $647.4M | $646.5M | $675.3M |
| Goodwill & intangible assets | $8.53B | $8.56B | $8.61B | $8.70B | $4.60B | $4.61B | $4.62B | $4.64B | $4.66B | $4.69B |
| Long-term investments | $36.75B | $34.15B | $27.00B | $25.33B | $7.62B | $103.85B | $99.37B | $100.33B | $101.77B | $106.44B |
| Other non-current assets | $111.19B | $128.36B | $127.75B | $125.12B | $93.43B | $1.70B | $0 | $0 | $0 | $0 |
| Total assets | $213.51B | $208.10B | $208.26B | $200.73B | $155.11B | $142.60B | $119.87B | $120.10B | $118.59B | $123.45B |
| Liabilities | ||||||||||
| Accounts payable | — | — | $4.52B | $4.38B | $2.13B | $2.17B | $2.34B | $1.64B | $1.59B | $1.81B |
| Short-term debt | $2.15B | $1.06B | $5.32B | $3.56B | $47.0M | $59.5M | $164.0M | $4.81B | $772.0M | $1.41B |
| Deferred revenue | — | — | — | — | — | — | — | $5.64B | — | — |
| Total current liabilities | $173.42B | $162.16B | $173.11B | $171.45B | $133.72B | $122.03B | $97.27B | $96.60B | $94.80B | $98.72B |
| Long-term debt | $10.91B | $9.34B | $7.67B | $3.96B | $3.49B | $4.38B | $6.99B | $8.44B | $8.14B | $9.49B |
| Other long-term liabilities | $0 | $7.59B | $527.0M | $463,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $184.33B | $179.08B | $181.31B | $175.41B | $137.20B | $126.41B | $104.16B | $104.64B | $102.34B | $106.96B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $90.0M | $91.0M | $91.0M | $91.0M | $81.1M | $81.2M | $81.4M | $81.6M | $81.8M | $82.1M |
| Retained earnings (deficit) | $20.88B | $19.08B | $17.52B | $15.75B | $14.65B | $13.44B | $12.82B | $11.52B | $10.16B | $9.22B |
| Treasury stock | — | — | — | −$1.75B | −$5.08B | −$5.14B | −$4.82B | −$3.53B | −$1.45B | −$431.8M |
| Accumulated other comprehensive income | $277.0M | −$164.0M | −$459.0M | −$790.0M | −$127.6M | −$63.0M | −$206.7M | −$420.1M | −$363.8M | −$294.6M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $29.18B | $29.03B | $26.96B | $25.32B | $17.90B | $16.19B | $15.72B | $15.46B | $16.25B | $16.49B |
| Key figures | ||||||||||
| Total debt | $13.06B | $13.66B | $13.52B | $7.52B | $3.53B | $4.44B | $7.05B | $12.84B | $8.49B | $9.82B |
| Net cash (debt) | $42.36B | $21.66B | $26.83B | $29.83B | $43.68B | $25.60B | $7.89B | $5.55B | $8.90B | $9.83B |
| Working capital | −$118.00B | −$126.83B | −$129.95B | −$131.52B | −$85.41B | −$90.75B | −$80.92B | −$76.80B | −$75.98B | −$77.64B |
| Tangible book value | $20.65B | $20.47B | $18.34B | $16.62B | $13.31B | $11.58B | $11.09B | $10.82B | $11.59B | $11.80B |
| Book value per share | $186.37 | $173.48 | $161.42 | $154.35 | $138.99 | $125.77 | $116.89 | $111.62 | $106.53 | $104.81 |
| Shares outstanding | 156.6M | 167.3M | 167.0M | 164.0M | 128.8M | 128.7M | 134.5M | 138.5M | 152.6M | 157.3M |
| Current ratio | 0.32 | 0.22 | 0.25 | 0.23 | 0.36 | 0.26 | 0.17 | 0.20 | 0.20 | 0.21 |
| Quick ratio | 0.32 | 0.22 | 0.25 | 0.23 | 0.36 | 0.26 | 0.17 | 0.20 | 0.20 | 0.21 |
| Debt / equity | 0.45 | 0.47 | 0.50 | 0.30 | 0.20 | 0.27 | 0.45 | 0.83 | 0.52 | 0.60 |
| Equity / assets | 13.7% | 13.9% | 12.9% | 12.6% | 11.5% | 11.4% | 13.1% | 12.9% | 13.7% | 13.4% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $39.69B | $1.94B | $55.06B | $55.42B | $37.95B | $56.99B | $38.80B | $35.33B | $39.28B | $36.41B | $41.99B | $40.35B |
| Cash & equivalents | $1.80B | $1.94B | $16.35B | $18.77B | $18.70B | $21.43B | $22.77B | $20.78B | $26.63B | $26.57B | $33.84B | $29.80B |
| Short-term investments | $37.89B | $38.37B | $38.71B | $36.65B | $19.25B | $35.57B | $16.04B | $14.45B | $12.64B | $9.74B | $8.05B | $10.44B |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.81B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$29.91B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $29.91B |
| Total current assets | $39.69B | $1.94B | $55.06B | $55.42B | $37.95B | $56.99B | $38.80B | $35.33B | $39.28B | $36.41B | $41.99B | $43.16B |
| Property, plant & equipment (net) | $0 | $1.73B | $1.72B | $1.63B | $1.62B | $1.65B | $1.66B | $1.71B | $1.69B | $1.72B | $1.71B | $1.74B |
| Goodwill & intangible assets | $8.51B | $8.51B | $8.52B | $8.53B | $8.54B | $8.55B | $8.56B | $8.56B | $8.57B | $8.58B | $8.60B | $8.61B |
| Long-term investments | $0 | $38.37B | $38.71B | $36.75B | $36.96B | $35.66B | $35.23B | $34.15B | $32.43B | $29.99B | $28.59B | $27.00B |
| Other non-current assets | $172.31B | $168.71B | $110.73B | $111.19B | $126.21B | $108.73B | $126.07B | $128.36B | $129.81B | $132.15B | $134.25B | $127.75B |
| Total assets | $220.51B | $219.26B | $214.74B | $213.51B | $211.28B | $211.58B | $210.32B | $208.10B | $211.78B | $208.85B | $215.14B | $208.26B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | $4.52B |
| Short-term debt | $6.37B | $4.61B | $7.85B | $2.15B | $2.06B | $2.07B | $1.57B | $1.06B | $2.60B | $4.76B | $4.79B | $5.32B |
| Total current liabilities | $6.37B | $4.61B | $171.59B | $173.42B | $165.49B | $166.52B | $166.98B | $162.16B | $167.16B | $164.67B | $171.99B | $173.11B |
| Long-term debt | $0 | $13.57B | $11.18B | $10.91B | $12.93B | $12.38B | $10.50B | $12.61B | $11.58B | $11.32B | $11.45B | $8.20B |
| Other long-term liabilities | $185.98B | $173.13B | $4.00B | $0 | $4.14B | $4.16B | $3.85B | $4.32B | $4.17B | $4.44B | $4.53B | $0 |
| Total liabilities | $192.35B | $191.31B | $186.76B | $184.33B | $182.55B | $183.06B | $181.33B | $179.08B | $182.91B | $180.43B | $187.97B | $181.31B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $90.0M | $90.0M | $90.0M | $91.0M | $91.0M | $91.0M | $91.0M | $91.0M | $91.0M | $91.0M | $91.0M |
| Retained earnings (deficit) | — | $22.04B | $21.48B | $20.88B | $20.39B | $19.87B | $19.41B | $19.08B | $18.66B | $18.21B | $17.81B | $17.52B |
| Accumulated other comprehensive income | — | −$92.0M | $66.0M | $277.0M | $277.0M | $215.0M | $90.0M | −$164.0M | −$27.0M | −$551.0M | −$589.0M | −$459.0M |
| Total shareholders' equity | $28.16B | $27.95B | $27.97B | $29.18B | $28.73B | $28.52B | $28.99B | $29.03B | $28.88B | $28.42B | $27.17B | $26.96B |
| Key figures | ||||||||||||
| Total debt | $6.37B | $18.18B | $19.03B | $13.06B | $14.99B | $14.45B | $12.07B | $13.66B | $14.19B | $16.08B | $16.25B | $13.52B |
| Net cash (debt) | $33.32B | −$16.24B | $36.03B | $42.36B | $22.96B | $42.54B | $26.73B | $21.66B | $25.09B | $20.32B | $25.74B | $26.83B |
| Working capital | $33.32B | −$2.67B | −$116.53B | −$118.00B | −$127.53B | −$109.53B | −$128.18B | −$126.83B | −$127.88B | −$128.27B | −$130.00B | −$129.95B |
| Tangible book value | $19.65B | $19.43B | $19.45B | $20.65B | $20.19B | $19.98B | $20.43B | $20.47B | $20.30B | $19.84B | $18.57B | $18.34B |
| Book value per share | $193.97 | $178.51 | $178.67 | $186.37 | $183.50 | $178.28 | $175.65 | $173.85 | $172.33 | $169.53 | $162.61 | $161.68 |
| Shares outstanding | 145.2M | 156.6M | 156.6M | 156.6M | 156.6M | 160.0M | 165.0M | 167.0M | 167.6M | 167.7M | 167.1M | 166.7M |
| Current ratio | 6.23 | 0.42 | 0.32 | 0.32 | 0.23 | 0.34 | 0.23 | 0.22 | 0.23 | 0.22 | 0.24 | 0.25 |
| Quick ratio | 6.23 | 0.42 | 0.32 | 0.32 | 0.23 | 0.34 | 0.23 | 0.22 | 0.23 | 0.22 | 0.24 | 0.25 |
| Debt / equity | 0.23 | 0.65 | 0.68 | 0.45 | 0.52 | 0.51 | 0.42 | 0.47 | 0.49 | 0.57 | 0.60 | 0.50 |
| Equity / assets | 12.8% | 12.7% | 13.0% | 13.7% | 13.6% | 13.5% | 13.8% | 13.9% | 13.6% | 13.6% | 12.6% | 12.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 18, 2026); data from EODHD.
MTB financial position
At the end of fiscal 2025 (December 31, 2025), M&T Bank had total assets of $213.5 billion (up 2.6% from a year earlier), total liabilities of $184.3 billion and shareholders' equity of $29.2 billion. It held $55.4 billion in cash and short-term investments against $13.1 billion of debt, a net cash position of $42.4 billion. Its current ratio was 0.32. In the latest quarter (ended September 30, 2026) total assets were $220.5 billion and equity $28.2 billion.
Related: MTB income statement, MTB cash flow statement, MTB key metrics. See the MTB stock overview for the latest quote and news.
MTB balance sheet FAQ
What are M&T Bank's total assets?
M&T Bank reported total assets of $213.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $208.1 billion a year earlier.
How much debt does M&T Bank have?
M&T Bank had $13.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.45.
How much cash does M&T Bank have?
M&T Bank held $55.4 billion in cash and short-term investments at the end of fiscal 2025; with $13.1 billion of debt that is net cash of $42.4 billion.
What is M&T Bank's book value?
M&T Bank's shareholders' equity (book value) was $29.2 billion at the end of fiscal 2025, or $186.37 per share.
What is M&T Bank's current ratio?
M&T Bank had current assets of $55.4 billion and current liabilities of $173.4 billion, a current ratio of 0.32 (current liabilities exceed current assets).
How much goodwill does M&T Bank have?
M&T Bank carried $8.5 billion of goodwill and intangible assets, 4.0% of total assets, at the end of fiscal 2025.