⚠ AI-Generated

The summary below was generated by an AI language model and may contain errors or omissions. All other content on this page is deterministically extracted from the original SEC EDGAR filing.

M&T Bank made no additions or deletions to its risk factor disclosures between the 2025 and 2026 10-K filings, maintaining all 13 existing risk categories. Two risks were substantively modified: Business Risk and Strategic Risk, indicating M&T refined its disclosure of how competitive pressures, operational challenges, and long-term strategic positioning could impact the institution. The stability of M&T's overall risk framework suggests the bank's fundamental risk landscape remained consistent while management updated specific language within these two key disclosure areas.

Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.

🟡 Modified

Business Risk

high match confidence

Sentence-level differences:

Reworded sentence: "•The Company's reputation may be harmed, which could negatively impact investor and customer confidence."
Reworded sentence: "•The Company’s assets, communities, operations, reputation and customers could be adversely affected by the impacts of climate-related risk."

Current (2026):

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•Changes in accounting standards could impact the Company’s reported financial condition and results of operations. •The Company’s reported financial condition and results of operations depend on management’s selection of accounting methods and require management to make estimates about matters that are uncertain. •The Company’s models used for business planning purposes could perform poorly or provide inadequate information. •The Company's reputation may be harmed, which could negatively impact investor and customer confidence. •The Company’s framework for managing risks may not be effective. •Pandemics, acts of war or terrorism and other adverse external events could significantly impact the Company’s business. •The Company’s assets, communities, operations, reputation and customers could be adversely affected by the impacts of climate-related risk.

View prior text (2025)

•Changes in accounting standards could impact the Company’s reported financial condition and results of operations. •The Company’s reported financial condition and results of operations depend on management’s selection of accounting methods and require management to make estimates about matters that are uncertain. •The Company’s models used for business planning purposes could perform poorly or provide inadequate information. •The Company is exposed to reputational risk which could negatively impact investor and customer confidence. •The Company’s framework for managing risks may not be effective. •Pandemics, acts of war or terrorism and other adverse external events could significantly impact the Company’s business. •The Company’s assets, communities, operations, reputation and customers could be adversely affected by the impacts of climate risk. 24 24 24