M&T Bank raises $450M via 18M depositary shares of 6.350% Series K Preferred Stock

M&T BANK CORP

Sold 18M depositary shares (each 1/400th interest) at $25/share; total liquidation preference $450M.
Series K is perpetual, 6.350% non-cumulative dividend, senior to common stock.
Dividends payable quarterly from Dec 15, 2025; redemption allowed on/after Dec 15, 2030 at $10,000/share.
Offering completed Oct 31, 2025; underwriters led by RBC, BofA, Morgan Stanley, UBS, Wells Fargo.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

M&T BANK CORP: Filed a certificate of amendment to establish the rights and designations of a new series of preferred stock (Series K) (effective 2025-10-29).

Change: charter amendment
Effective: 2025-10-29

Exact text from the filing

On October 29, 2025, M&T filed with the New York State Department of State the Certificate of Amendment for the purpose of fixing the designations, preferences, limitations and relative rights of the Series K Preferred Stock.

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M&T BANK CORP filing history →

Source: SEC EDGAR

accession 0001193125-25-260717

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