M&T Bank Corporation
Computations of Consolidated Ratios of Earnings to Fixed Charges
(Dollars in thousands) Exhibit 12.1

		Year Ended December 31,
		2007		2006		2005		2004		2003
Excluding Interest on Deposits:
Fixed Charges:
Interest Expense (excluding interest on deposits)	$		735,257		561,686		437,820		272,538		247,316
Interest Factor Within Rent Expense (a)			21,608		20,135		19,217		19,570		17,170
Total Fixed Charges	$		756,865		581,821		457,037		292,108		264,486
Earnings:
Income Before Income Taxes	$		963,537		1,231,642		1,170,919		1,066,523		850,670
Fixed Charges			756,865		581,821		457,037		292,108		264,486
Total Earnings	$		1,720,402		1,813,463		1,627,956		1,358,631		1,115,156
Ratio of Earnings to Fixed Charges, Excluding Interest on Deposits	x		2.27		3.12		3.56		4.65		4.22
Including Interest on Deposits:
Fixed Charges:
Interest Expense	$		1,694,576		1,496,552		994,351		564,160		527,810
Interest Factor Within Rent Expense (a)			21,608		20,135		19,217		19,570		17,170
Total Fixed Charges	$		1,716,184		1,516,687		1,013,568		583,730		544,980
Earnings:
Income Before Income Taxes	$		963,537		1,231,642		1,170,919		1,066,523		850,670
Fixed Charges			1,716,184		1,516,687		1,013,568		583,730		544,980
Total Earnings		$	2,679,721		2,748,329		2,184,487		1,650,253		1,395,650
Ratio of Earnings to Fixed Charges, Including Interest on Deposits	x		1.56		1.81		2.16		2.83		2.56

(a) The portion of rents shown as representative of the interest factor is one-third of total net operating lease expenses.