Exhibit (12)(b)
M&T Bank Corporation
Computations of Consolidated Ratios of Earnings to Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
For the Six Months | ||||||||||||||||||||||||||||
Ended June 30 | Year Ended December 31 | |||||||||||||||||||||||||||
2018 | 2017 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Excluding interest on deposits | ||||||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense (excluding interest on deposits) | $ | 114,265 | 91,962 | 190,883 | 234,642 | 254,443 | 217,348 | 200,413 | ||||||||||||||||||||
Interest factor within rent expense (a) | 18,563 | 19,428 | 40,917 | 40,727 | 36,385 | 36,815 | 36,490 | |||||||||||||||||||||
Preferred stock dividends | 49,193 | 60,138 | 119,924 | 133,998 | 133,998 | 124,902 | 89,087 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges | $ | 182,021 | 171,528 | 351,724 | 409,367 | 424,826 | 379,065 | 325,990 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income before income taxes (b) | $ | 1,112,493 | 1,114,634 | 2,323,862 | 2,058,398 | 1,674,692 | 1,642,245 | 1,765,568 | ||||||||||||||||||||
Fixed charges - including preferred stock dividends | 182,021 | 171,528 | 351,724 | 409,367 | 424,826 | 379,065 | 325,990 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total earnings (b) | $ | 1,294,514 | 1,286,162 | 2,675,586 | 2,467,765 | 2,099,518 | 2,021,310 | 2,091,558 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of earnings to fixed charges, excluding interest on deposits | x | 7.11 | | 7.50 | 7.61 | 6.03 | 4.94 | 5.33 | 6.42 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Including interest on deposits | ||||||||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 226,751 | 183,986 | 386,751 | 425,984 | 328,257 | 280,431 | 284,105 | ||||||||||||||||||||
Interest factor within rent expense (a) | 18,563 | 19,428 | 40,917 | 40,727 | 36,385 | 36,815 | 36,490 | |||||||||||||||||||||
Preferred stock dividends | 49,193 | 60,138 | 119,924 | 133,998 | 133,998 | 124,902 | 89,087 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges | $ | 294,507 | 263,552 | 547,592 | 600,709 | 498,640 | 442,148 | 409,682 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income before income taxes (b) | $ | 1,112,493 | 1,114,634 | 2,323,862 | 2,058,398 | 1,674,692 | 1,642,245 | 1,765,568 | ||||||||||||||||||||
Fixed charges - including preferred stock dividends | 294,507 | 263,552 | 547,592 | 600,709 | 498,640 | 442,148 | 409,682 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total earnings (b) | $ | 1,407,000 | 1,378,186 | 2,871,454 | 2,659,107 | 2,173,332 | 2,084,393 | 2,175,250 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of earnings to fixed charges, including interest on deposits | x | 4.78 | | 5.23 | 5.24 | 4.43 | 4.36 | 4.71 | 5.31 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) The portion of rents shown as representative of the interest factor isone-third of total net operating lease expenses.
(b) Figures prior to 2015 have been restated as a result of an accounting policy election to account for investments in qualified affordable housing projects using the proportionate amortization method.