Item 2.02.Results of Operations and Financial Condition.

On April 20, 2020, M&T Bank Corporation announced its results of operations for the quarter ended March 31, 2020. The public announcement was made by means of a news release, the text of which is set forth in Exhibit 99.1 hereto.

The information under Item 2.02 in this Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liability of such section, nor shall it be deemed incorporated by reference in any filing of M&T Bank Corporation under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.




Item 8.01.    Other Events

The following risk factor supplements the "Risk Factors" section in Item 1A of M&T's 2019 Form 10-K.

M&T's business, financial condition, liquidity and results of operations have been, and will likely continue to be, adversely affected by the COVID-19 pandemic. The Coronavirus Disease 2019 ("COVID-19") pandemic has created economic and financial disruptions that have adversely affected, and are likely to continue to adversely affect, M&T's business, financial condition, liquidity and results of operations. The extent to which the COVID-19 pandemic will continue to negatively affect M&T's business, financial condition, liquidity and results of operations will depend on future developments, which are highly uncertain and cannot be predicted, including the scope and duration of the pandemic, the continued effectiveness of M&T's business continuity plan, the direct and indirect impact of the pandemic on M&T's employees, customers, clients, counterparties and service providers, as well as other market participants, and actions taken by governmental authorities and other third parties in response to the pandemic.

The COVID-19 pandemic has contributed to:



   •  Increased unemployment and decreased consumer confidence and business
      generally, leading to an increased risk of delinquencies, defaults and
      foreclosures.


   •  Ratings downgrades, credit deterioration and defaults in many industries,
      including natural resources, hospitality, transportation and commercial real
      estate.


   •  A sudden and significant reduction in the valuation of the equity,
      fixed-income and commodity markets and the significant increase in the
      volatility of those markets.


   •  A decrease in the rates and yields on U.S. Treasury securities, which may
      lead to decreased net interest income.


  • Increased demands on capital and liquidity.


   •  A reduction in the value of the assets that the Company manages or otherwise
      administers or services for others, affecting related fee income and demand
      for the Company's services.


   •  Heightened cybersecurity, information security and operational risks as a
      result of work-from-home arrangements.

Governmental authorities have taken unprecedented measures to provide economic assistance to individual households and businesses, stabilize the markets and support economic growth. The success of these measures is unknown and they may not be sufficient to fully mitigate the negative impact of the COVID-19 pandemic. Additionally, some measures, such as a suspension of mortgage and other loan payments and foreclosures, may have a negative impact on M&T's business, financial condition, liquidity and results of operations. M&T also faces an increased risk of litigation and governmental and regulatory scrutiny as a result of the effects of COVID-19 on market and economic conditions and actions governmental authorities take in response to those conditions.

The length of the pandemic and the efficacy of the extraordinary measures being put in place to address it are unknown. Until the pandemic subsides, the Company expects continued draws on lines of credit, reduced revenues in our Trust and other businesses and increased customer and client defaults, including defaults in unsecured loans. Even after the pandemic subsides, the U.S. economy may experience a recession, and M&T anticipates the Company's businesses would be materially and adversely affected by a prolonged recession. To the extent the pandemic adversely affects M&T's business, financial condition, liquidity or results of operations, it may also have the effect of heightening many of the other risks described in the section entitled "Risk Factors" in M&T's 2019 Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.





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Item 9.01. Financial Statements and Exhibits.




(d) Exhibits.



Exhibit
  No.        Exhibit Description

 99.1          News Release dated April 20, 2020.
  104        Cover Page Interactive Data File (embedded within the Inline XBRL document).




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