# M&T BANK CORP (MTB-PK) — capital_raise/public_offering [announced]
Source: SEC API (secapi.ai) · situation sit_3fd4543150552ec7648c · retrieved 2026-08-11T16:13:54.231Z

## Overview
M&T Bank Corporation is a New York-based bank holding company and financial holding company that operates through its subsidiaries, including Manufacturers and Traders Trust Company and Wilmington Trust, National Association.

M&T Bank Corporation completed a public offering on July 21, 2026, of 24,000,000 depositary shares, each representing a 1/400th interest in a share of Perpetual 6.625% Non-Cumulative Preferred Stock, Series L. The Series L Preferred Stock has a liquidation preference of $10,000 per share and a stated amount of $10,000 per share. The offering was underwritten by BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, M&T Securities, Inc., Raymond James & Associates, Inc., UBS Securities LLC, and Wells Fargo Securities, LLC. The Series L Preferred Stock ranks senior to common stock and equally with M&T's outstanding Series F, H, I, J and K preferred stock with respect to dividend payments and liquidation distributions. Dividends accrue at 6.625% per annum on a non-cumulative basis, payable quarterly beginning September 15, 2026. The Series L is perpetual with no maturity date but may be redeemed by M&T on or after September 15, 2031, or within 90 days following a regulatory capital treatment event, at a redemption price of $10,000 per share plus declared but unpaid dividends.

## Terms
- Counterparty: BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, M&T Securities, Inc., Raymond James & Associates, Inc., UBS Securities LLC, Wells Fargo Securities, LLC · Consideration: cash · Price/share: $25

## Key dates
- Announced 2026-07-21

## Timeline
- 2026-07-21 · 8-K (0001193125-26-310413): 8-K - M&T BANK CORP — *M&T Bank Corporation is a New York-based bank holding company and financial holding company that operates through its subsidiaries, including Manufacturers and Traders Trust Company and Wilmington Trust, National Association.* M&T Bank Corporation completed a public offering on July 21, 2026, of 24,000,000 depositary shares, each representing a 1/400th interest in a share of Perpetual 6.625% Non-Cumulative Preferred Stock, Series L. The Series L Preferred Stock has a liquidation preference of $10,000 per share and a stated amount of $10,000 per share. The offering was underwritten by BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, M&T Securities, Inc., Raymond James & Associates, Inc., UBS Securities LLC, and Wells Fargo Securities, LLC. The Series L Preferred Stock ranks senior to common stock and equally with M&T's outstanding Series F, H, I, J and K preferred stock with respect to dividend payments and liquidation distributions. Dividends accrue at 6.625% per annum on a non-cumulative basis, payable quarterly beginning September 15, 2026. The Series L is perpetual with no maturity date but may be redeemed by M&T on or after September 15, 2031, or within 90 days following a regulatory capital treatment event, at a redemption price of $10,000 per share plus declared but unpaid dividends.
  https://www.sec.gov/Archives/edgar/data/36270/0001193125-26-310413.txt

## Citations
- 0001193125-26-310413 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526310413