---
title: "M&T Bank: Competitors"
description: "M&T Bank compared with companies that share its SEC industry classification: revenue, growth and margins from SEC filings, and how the peer group is chosen."
canonical: https://www.getswoopr.com/stocks/companies/m-and-t-bank/competitors/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# M&T Bank: Competitors & Industry Structure

## Direct Answer

SEC EDGAR classifies M&T Bank under SIC code 6022 (State Commercial Banks). Among Swoopr's S&P 500 Equal Weight companies, 51 others share that classification; by latest reported revenue, M&T Bank ranks 7 of 52. A filing classification is a starting point: a company's real competitors depend on its segments, which its 10-K describes.

## How Does M&T Bank Compare With Its Peers?

| Company | Revenue (latest FY) | Revenue growth | Operating margin | Net margin |
| --- | --- | --- | --- | --- |
| [BNY Mellon (BNY)](https://www.getswoopr.com/stocks/companies/bny-mellon/) | $20.1 billion FY2025 | 7.8% | n/a | 27.6% |
| [State Street Corporation (STT)](https://www.getswoopr.com/stocks/companies/state-street-corporation/) | $13.9 billion FY2025 | 7.3% | n/a | 21.1% |
| [First Citizens BancShares Inc. (FCNCA)](https://www.getswoopr.com/stocks/companies/first-citizens-bancshares-inc/) | $9.5 billion FY2025 | -2.2% | n/a | 23.1% |
| [Citizens Financial Group (CFG)](https://www.getswoopr.com/stocks/companies/citizens-financial-group/) | $8.2 billion FY2025 | 5.6% | n/a | 22.2% |
| [Northern Trust (NTRS)](https://www.getswoopr.com/stocks/companies/northern-trust/) | $8.1 billion FY2025 | -2.5% | n/a | 21.5% |
| [Ally Financial Inc. (ALLY)](https://www.getswoopr.com/stocks/companies/ally-financial-inc/) | $7.9 billion FY2025 | -3.3% | n/a | 10.8% |
| **M&T Bank (MTB)** | $1.7 billion FY2025 | 7.5% | n/a | 172.1% |
| [GBank Financial Holdings Inc. (GBFH)](https://www.getswoopr.com/stocks/companies/gbank-financial-holdings-inc/) | $1.2 billion FY2025 | n/a | n/a | 1.7% |
| [Associated Banc-Corp (ASB)](https://www.getswoopr.com/stocks/companies/associated-banc-corp/) | $1.1 billion FY2023 | -11.0% | n/a | 16.6% |
| [First Busey Corporation (BUSE)](https://www.getswoopr.com/stocks/companies/first-busey-corporation/) | $720 million FY2025 | 55.7% | n/a | 18.8% |
| [Fifth Third Bancorp (FITB)](https://www.getswoopr.com/stocks/companies/fifth-third-bancorp/) | $577 million FY2023 | -2.0% | n/a | 407.1% |
| [QCR Holdings Inc. (QCRH)](https://www.getswoopr.com/stocks/companies/qcr-holdings-inc/) | $546 million FY2023 | 46.3% | n/a | 20.8% |
| [German American Bancorp Inc. (GABC)](https://www.getswoopr.com/stocks/companies/german-american-bancorp-inc/) | $487 million FY2025 | 37.8% | n/a | 23.1% |
| [Republic Bancorp Inc. (RBCAA)](https://www.getswoopr.com/stocks/companies/republic-bancorp-inc/) | $417 million FY2025 | 8.5% | n/a | 31.5% |
| [Univest Financial Corporation (UVSP)](https://www.getswoopr.com/stocks/companies/univest-financial-corporation/) | $328 million FY2025 | 9.6% | n/a | 27.7% |
| [United Bankshares Inc. (UBSI)](https://www.getswoopr.com/stocks/companies/united-bankshares-inc/) | $312 million FY2022 | n/a | n/a | 121.7% |
| [Farmers National Banc Corp. (FMNB)](https://www.getswoopr.com/stocks/companies/farmers-national-banc-corp/) | $280 million FY2025 | 3.9% | n/a | 19.5% |
| [Wintrust Financial Corporation (WTFC)](https://www.getswoopr.com/stocks/companies/wintrust-financial-corporation/) | $266 million FY2025 | 5.9% | n/a | 310.2% |
| [ChoiceOne Financial Services Inc. (COFS)](https://www.getswoopr.com/stocks/companies/choiceone-financial-services-inc/) | $228 million FY2025 | 63.6% | n/a | 12.4% |
| [ACNB Corporation (ACNB)](https://www.getswoopr.com/stocks/companies/acnb-corporation/) | $192 million FY2025 | 45.1% | n/a | 19.3% |
| [Columbia Banking System Inc. (COLB)](https://www.getswoopr.com/stocks/companies/columbia-banking-system-inc/) | $177 million FY2025 | 18.8% | n/a | 310.7% |
| [C&F Financial Corporation (CFFI)](https://www.getswoopr.com/stocks/companies/c-and-f-financial-corporation/) | $141 million FY2025 | 10.6% | n/a | 19.1% |
| [Western Alliance Bancorporation (WAL)](https://www.getswoopr.com/stocks/companies/western-alliance-bancorporation/) | $136 million FY2025 | 99.7% | n/a | 713.5% |
| [MainStreet Bancshares Inc. (MNSB)](https://www.getswoopr.com/stocks/companies/mainstreet-bancshares-inc/) | $136 million FY2025 | -1.6% | n/a | 11.5% |
| [Glacier Bancorp Inc. (GBCI)](https://www.getswoopr.com/stocks/companies/glacier-bancorp-inc/) | $101 million FY2025 | 7.5% | n/a | 236.5% |
| [First Western Financial Inc. (MYFW)](https://www.getswoopr.com/stocks/companies/first-western-financial-inc/) | $97 million FY2025 | 7.6% | n/a | 13.6% |
| [Investar Holding Corporation (ISTR)](https://www.getswoopr.com/stocks/companies/investar-holding-corporation/) | $94 million FY2025 | 7.1% | n/a | 24.5% |
| [Peoples Bancorp Inc. (PEBO)](https://www.getswoopr.com/stocks/companies/peoples-bancorp-inc/) | $87 million FY2025 | 2.3% | 155.4% | 123.1% |
| [First Bancorp (FBNC)](https://www.getswoopr.com/stocks/companies/first-bancorp/) | $68 million FY2025 | -3.6% | n/a | 164.2% |
| [Cathay General Bancorp (CATY)](https://www.getswoopr.com/stocks/companies/cathay-general-bancorp/) | $54 million FY2025 | 2.9% | n/a | 585.8% |
| [TriCo Bancshares (TCBK)](https://www.getswoopr.com/stocks/companies/trico-bancshares/) | $53 million FY2025 | 4.1% | n/a | 227.4% |
| [Mechanics Bancorp (MCHB)](https://www.getswoopr.com/stocks/companies/mechanics-bancorp/) | $50 million FY2025 | 3.3% | n/a | 534.4% |
| [Orrstown Financial Services Inc. (ORRF)](https://www.getswoopr.com/stocks/companies/orrstown-financial-services-inc/) | $37 million FY2025 | 36.0% | n/a | 217.7% |
| [Independent Bank Corporation (IBCP)](https://www.getswoopr.com/stocks/companies/independent-bank-corporation/) | $32 million FY2025 | 0.3% | n/a | 213.7% |
| [Bar Harbor Bankshares Inc. (BHB)](https://www.getswoopr.com/stocks/companies/bar-harbor-bankshares-inc/) | $29 million FY2022 | n/a | n/a | 148.3% |
| [Civista Bancshares Inc. (CIVB)](https://www.getswoopr.com/stocks/companies/civista-bancshares-inc/) | $19 million FY2025 | -0.5% | n/a | 242.9% |
| [First National Corporation (FXNC)](https://www.getswoopr.com/stocks/companies/first-national-corporation/) | $14 million FY2025 | 0.8% | n/a | 123.9% |
| [Metropolitan Bank Holding Corp. (MCB)](https://www.getswoopr.com/stocks/companies/metropolitan-bank-holding-corp/) | $11 million FY2025 | -53.8% | n/a | 643.2% |
| [Business First Bancshares Inc. (BFST)](https://www.getswoopr.com/stocks/companies/business-first-bancshares-inc/) | $11 million FY2025 | 1.2% | n/a | 821.2% |
| [Citizens Financial Services Inc. (CZFS)](https://www.getswoopr.com/stocks/companies/citizens-financial-services-inc/) | $10 million FY2025 | 2.8% | n/a | 370.1% |
| [Norwood Financial Corp. (NWFL)](https://www.getswoopr.com/stocks/companies/norwood-financial-corp/) | $8 million FY2025 | 8.1% | n/a | 347.0% |
| [RBB Bancorp (RBB)](https://www.getswoopr.com/stocks/companies/rbb-bancorp/) | $5 million FY2025 | -2.4% | n/a | 618.3% |
| [Bank of the James Financial Group Inc. (BOTJ)](https://www.getswoopr.com/stocks/companies/bank-of-the-james-financial-group-inc/) | $4 million FY2025 | 6.7% | n/a | 211.1% |
| [OP Bancorp (OPBK)](https://www.getswoopr.com/stocks/companies/op-bancorp/) | $3 million FY2025 | -1.7% | n/a | 800.1% |
| [PCB Bancorp (PCB)](https://www.getswoopr.com/stocks/companies/pcb-bancorp/) | $3 million FY2025 | 4.5% | n/a | 1291.9% |
| [Bankwell Financial Group Inc. (BWFG)](https://www.getswoopr.com/stocks/companies/bankwell-financial-group-inc/) | $3 million FY2025 | 44.0% | n/a | 1245.5% |
| [CoastalSouth Bancshares Inc. (COSO)](https://www.getswoopr.com/stocks/companies/coastalsouth-bancshares-inc/) | $2 million FY2025 | 6.4% | n/a | 1254.0% |
| [FVCBankcorp Inc. (FVCB)](https://www.getswoopr.com/stocks/companies/fvcbankcorp-inc/) | $2 million FY2025 | 13.9% | n/a | 1238.5% |
| [First US Bancshares Inc. (FUSB)](https://www.getswoopr.com/stocks/companies/first-us-bancshares-inc/) | $1 million FY2025 | -7.5% | n/a | 525.6% |
| [First Community Corporation (FCCO)](https://www.getswoopr.com/stocks/companies/first-community-corporation/) | $922,000 FY2025 | -3.2% | n/a | 2083.0% |
| [Auburn National Bancorporation Inc. (AUBN)](https://www.getswoopr.com/stocks/companies/auburn-national-bancorporation-inc/) | $619,000 FY2025 | 0.8% | n/a | 1172.1% |
| [Eagle Financial Services Inc (EFSI)](https://www.getswoopr.com/stocks/companies/eagle-financial-services-inc/) | $0 FY2023 | -100.0% | n/a | n/a |

Revenue growth compares each company's latest fiscal year with the one before. Fiscal years do not always end on the same date, so treat close comparisons with care.

## How Does M&T Bank Rank Among All SEC Filers in Its Industry Code?

51 companies with annual reports in Swoopr's SEC dataset share SIC code 6022 (State Commercial Banks), a wider group than the S&P 500 Equal Weight companies above. Ranks run from 1 (highest) and use each company's latest fiscal year, in U.S. dollars.

| Measure | M&T Bank | Median of filers | Rank |
| --- | --- | --- | --- |
| Revenue | $1.7 billion | $97 million | 7 of 51 |
| Revenue growth | 7.5% | 5.1% | 17 of 48 |
| Net margin | 172.1% | 172.1% | 26 of 51 |

A SIC code reflects the filer's main business as the SEC records it, so the group mixes companies of very different size; the median is a better guide than the average, and a rank near the top by revenue says nothing about quality.

## Where These Numbers Come From

Every figure on this page is a value M&T Bank reported in its own SEC filings, read from the SEC's XBRL data (accession 0000036270-26-000010 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.

Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.

## Frequently Asked Questions

### Who are M&T Bank's competitors?

Companies sharing M&T Bank's SEC classification (SIC code 6022 (State Commercial Banks)) include BNY Mellon (BNY), State Street Corporation (STT), First Citizens BancShares Inc. (FCNCA), Citizens Financial Group (CFG), Northern Trust (NTRS). Its 10-K names the competitors it considers most relevant.

### How does M&T Bank compare with its peers on margins?

A margin comparison needs reported operating income for M&T Bank and its peers; where either is missing, Swoopr leaves the comparison out.

### How are these peers chosen?

By the SEC Standard Industrial Classification code each company files under, within Swoopr's S&P 500 Equal Weight company set, falling back to the two-digit major group when fewer than two companies share the exact code. Classification codes are broad, so read the peer list as a screen, not a verdict.

### How does M&T Bank rank among all companies in its SEC industry?

Among 51 SEC filers under SIC code 6022, M&T Bank ranks 7 by latest revenue.

## References

- [SEC EDGAR: M&T BANK CORP Form 10-K filed February 18, 2026](https://www.sec.gov/Archives/edgar/data/36270/000003627026000010/mtb-20251231.htm)
- [SEC EDGAR: M&T BANK CORP annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=36270&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)

## Related Pages

- [M&T Bank company dossier](https://www.getswoopr.com/stocks/companies/m-and-t-bank/)
- [M&T Bank financial metrics](https://www.getswoopr.com/stocks/companies/m-and-t-bank/metrics/)
- [M&T Bank financial risk indicators](https://www.getswoopr.com/stocks/companies/m-and-t-bank/risks/)
- [M&T Bank peer comparison](https://www.getswoopr.com/stocks/companies/m-and-t-bank/competitors/)
- [M&T Bank business model and revenue mix](https://www.getswoopr.com/stocks/companies/m-and-t-bank/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).