Commercial Lending Will Be a Major Loan Growth Driver for M&T Bank in 2026

We consider M&T Bank to be one of the best-run regional banks in our coverage. The bank runs a dense and efficient branch network in New England and the US Mid-Atlantic and does not pursue growth outside this footprint. Looking ahead, M&T is focused on growing its New England and Long Island markets, achieving better operating efficiency through simplifying its operations and via automation, while maintaining its superior credit culture. Overall, we like this strategic focus and expect the bank to maintain its deep relationships with its clients.