M&T Bank Sees M&A High in Its Capital-Deployment Plans, CFO Says

M&T Bank Corp. would use capital in mergers and acquisitions as it also invests in supporting customers, said Chief Financial Officer Daryl Bible — comments that come at a time when M&T’s peers are playing down their M&A appetite for fear of stockholder punishment.

“There are deals in there, that we hypothetically model, that work in our footprint,” Bible said during a Goldman Sachs Group Inc. financial-services conference Wednesday. “And there’s other deals that don’t work, just because of our valuation level.”

M&T signage on the floor of the New York Stock Exchange on Feb. 3.

Photographer: Michael Nagle/Bloomberg

M&T is mindful of investors’ concerns that the value of a transaction may not be justified if ...