Stock Symbol: MTB

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Business Description
M&T Bank Corporation is the holding company for Manufacturers and Traders Trust Company and M&T Bank, National Association (the Banks). The Banks collectively offer a range of commercial banking, trust and investment services to their customers. For 2003, M&T Bank represented 99% of consolidated assets of the Company. In addition, the Company wholly owns M&T Life Insurance Company, a captive credit reinsurer, which reinsures credit life and accident and health insurance purchased by the Company's consumer loan customers. During 2003, the Company had consolidated total deposits of $33.1 billion.

Financial Information
For the six months ended 6/30/04, interest income rose 9% to $1.11 billion. Net interest income after loan loss provision rose 18% to $803.1 million. Net income increased 37% to $343.9 million. Net interest income reflects increased earning assets, and lower loan loss provisions. Earnings reflect higher trust and service fee income.