M & T BK CORP

Ticker: MTB CUSIP: 55261F104 Class: COM

Hilltop Holdings Inc.'s Holding History (CIK: 0001265131)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 3,602 Value ($000) $436 Avg Close $91.64 Range $83.48 - $95.93

Q3 2015

Shares 3,905 Value ($000) $476 Avg Close $93.27 Range $83.75 - $99.75

Q2 2015

Shares 4,503 Value ($000) $563 Avg Close $91.35 Range $87.23 - $95.80

Q1 2015

Shares 4,315 Value ($000) $548 Avg Close $89.29 Range $82.26 - $95.91

Q4 2014

Shares 4,011 Value ($000) $504 Avg Close $90.02 Range $82.27 - $94.90

Q3 2014

Shares 4,610 Value ($000) $568 Avg Close $89.75 Range $86.23 - $94.17

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	3,602	$436	$91.64	$83.48 - $95.93
Q3 2015	3,905	$476	$93.27	$83.75 - $99.75
Q2 2015	4,503	$563	$91.35	$87.23 - $95.80
Q1 2015	4,315	$548	$89.29	$82.26 - $95.91
Q4 2014	4,011	$504	$90.02	$82.27 - $94.90
Q3 2014	4,610	$568	$89.75	$86.23 - $94.17