Exhibit (12)(a)

M&T Bank Corporation

Computations of Consolidated Ratios of Earnings to Fixed Charges

(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
Total fixed charges	$	132,828		111,390		231,800		275,369		290,828		254,163		236,903
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		132,828		111,390		231,800		275,369		290,828		254,163		236,903
Total earnings (b)	$	1,245,321		1,226,024		2,555,662		2,333,767		1,965,520		1,896,408		2,002,471
Ratio of earnings to fixed charges, excluding interest on deposits	x	9.38		11.01		11.03		8.48		6.76		7.46		8.45
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
Total fixed charges	$	245,314		203,414		427,668		466,711		364,642		317,246		320,595
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		245,314		203,414		427,668		466,711		364,642		317,246		320,595
Total earnings (b)	$	1,357,807		1,318,048		2,751,530		2,525,109		2,039,334		1,959,491		2,086,163
Ratio of earnings to fixed charges, including interest on deposits	x	5.53		6.48		6.43		5.41		5.59		6.18		6.51

(a) The portion of rents shown as representative of the interest factor is one-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.