M&T issued 75,000 shares of Perpetual 7.5% Non-Cumulative Preferred Stock, Series J, increasing preferred equity by $733 million. This increases the company's capital base.

M&T announced its intention to redeem all outstanding shares of its Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series E, on August 15, 2024. This suggests a shift in capital structure management.

The company did not repurchase shares in the first half of 2024, after repurchasing shares for $600 million in the first half of 2023. This may reflect a shift in capital allocation priorities or a response to market conditions.

Average loans and leases increased to $134.6 billion, reflecting growth in commercial and industrial loans, but a decline in commercial real estate loans. This indicates a strategic shift in lending focus.

Average core deposits increased modestly, but the deposit mix shifted towards higher-cost interest-bearing products, indicating a competitive pressure to attract and retain deposits in a rising rate environment.

Interest rate sensitivity modeling indicates that net interest income could decrease in scenarios with rising interest rates, highlighting the importance of effective interest rate risk management.

The 10-Q states that there have been no material changes in risk factors relating to M&T to those disclosed in response to Part I, Item 1A of M&T's 2023 Annual Report.

The FDIC notified member banks that the loss estimate attributable to certain failed banks had increased. The Company recorded FDIC special assessment expense of $5 million and $34 million in the Consolidated Statement of Income for the three and six months ended June 30, 2024, respectively.

The company states that, while the outcome of pending legal matters is not believed to be material to the company's consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future.