Shareholders' equity (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Issued and Outstanding Preferred Stock

Issued and outstanding preferred stock of M&T is presented below:

	December 31, 2016				December 31, 2015
	Shares Issued and Outstanding		Carrying value		Shares Issued and Outstanding		Carrying value
	(Dollars in thousands)
Series A (a)
Fixed Rate Cumulative Perpetual Preferred Stock,    $1,000 liquidation preference per share		230,000	$	230,000		230,000	$	230,000
Series C (a)
Fixed Rate Cumulative Perpetual Preferred Stock,    $1,000 liquidation preference per share		151,500	$	151,500		151,500	$	151,500
Series D (b)
Fixed Rate Non-cumulative Perpetual Preferred Stock,    $10,000 liquidation preference per share		—		—		50,000	$	500,000
Series E (c)
Fixed-to-Floating Rate Non-cumulative Perpetual Preferred    Stock, $1,000 liquidation preference per share		350,000	$	350,000		350,000	$	350,000
Series F (d)
Fixed-to-Floating Rate Non-cumulative Perpetual Preferred    Stock, $10,000 liquidation preference per share		50,000	$	500,000		—		—

(a) Dividends, if declared, are paid at 6.375%. Warrants to purchase M&T common stock at $73.86 per share issued in connection with the Series A preferred stock expire in 2018 and totaled 631,794 and 719,175 at December 31, 2016 and 2015, respectively.

(b) The shares were fully redeemed in December 2016, having received the approval of the Federal Reserve to redeem such shares after issuing the Series F preferred stock.

(c) Dividends, if declared, are paid semi-annually at a rate of 6.45% through February 14, 2024 and thereafter will be paid quarterly at a rate of the three-month LIBOR plus 361 basis points (hundredths of one percent). The shares are redeemable in whole or in part on or after February 15, 2024. Notwithstanding M&T’s option to redeem the shares, if an event occurs such that the shares no longer qualify as Tier 1 capital, M&T may redeem all of the shares within 90 days following that occurrence.

(d) Dividends, if declared, are paid semi-annually at a rate of 5.125% through October 31, 2026 and thereafter will be paid quarterly at a rate of the three-month LIBOR plus 352 basis points.  The shares are redeemable in whole or in part on or after November 1, 2026.  Notwithstanding M&T’s option to redeem the shares, if an event occurs such that the shares no longer qualify as Tier 1 capital, M&T may redeem all of the shares within 90 days following that occurrence.