M & T BK CORP

Ticker: MTB CUSIP: 55261F104 Class: COM

CUTLER INVESTMENT COUNSEL LLC's Holding History (CIK: 0001285973)

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

Q4 2025

Shares 39,223 Value ($000) $7,903 Avg Close $190.09 Range $173.38 - $208.26

Q3 2025

Shares 40,115 Value ($000) $7,928 Avg Close $193.71 Range $179.84 - $202.35

Q2 2025

Shares 40,521 Value ($000) $7,861 Avg Close $172.90 Range $147.35 - $193.26

Q1 2025

Shares 40,694 Value ($000) $7,274 Avg Close $184.51 Range $165.06 - $197.34

Q4 2024

Shares 42,415 Value ($000) $7,974 Avg Close $192.14 Range $164.08 - $217.71

Q3 2024

Shares 43,495 Value ($000) $7,747 Avg Close $159.11 Range $139.56 - $174.25

Q2 2024

Shares 44,864 Value ($000) $6,791 Avg Close $138.95 Range $126.18 - $148.59

Q1 2024

Shares 44,976 Value ($000) $6,542 Avg Close $130.61 Range $120.57 - $139.44

Q4 2023

Shares 44,771 Value ($000) $6,137 Avg Close $117.30 Range $100.95 - $139.29

Q3 2023

Shares 45,468 Value ($000) $5,749 Avg Close $120.47 Range $109.59 - $131.11

Q2 2023

Shares 45,312 Value ($000) $5,608 Avg Close $110.64 Range $99.63 - $120.49

Q1 2023

Shares 45,466 Value ($000) $5,436 Avg Close $131.45 Range $100.21 - $146.31

Q4 2022

Shares 45,083 Value ($000) $6,540 Avg Close $147.80 Range $125.03 - $172.70

Q3 2022

Shares 47,043 Value ($000) $8,295 Avg Close $158.03 Range $132.58 - $172.33

Q2 2022

Shares 47,032 Value ($000) $7,496 Avg Close $149.08 Range $139.16 - $163.11

Q1 2022

Shares 46,696 Value ($000) $7,915 Avg Close $155.43 Range $136.45 - $165.23

Q4 2021

Shares 45,754 Value ($000) $7,027 Avg Close $134.29 Range $124.36 - $142.38

Q3 2021

Shares 45,403 Value ($000) $6,780 Avg Close $120.25 Range $111.14 - $134.92

Q2 2021

Shares 47,183 Value ($000) $6,856 Avg Close $134.57 Range $123.34 - $144.59

Q1 2021

Shares 47,056 Value ($000) $7,134 Avg Close $126.15 Range $107.04 - $140.55

Q4 2020

Shares 46,888 Value ($000) $5,969 Avg Close $96.63 Range $76.47 - $110.90

Q3 2020

Shares 47,056 Value ($000) $4,333 Avg Close $85.82 Range $74.81 - $95.50

Q2 2020

Shares 46,963 Value ($000) $4,883 Avg Close $87.80 Range $70.48 - $108.89

Q1 2020

Shares 47,067 Value ($000) $4,868 Avg Close $121.20 Range $72.59 - $143.03

Q4 2019

Shares 47,045 Value ($000) $7,986 Avg Close $132.84 Range $120.05 - $141.90

Q3 2019

Shares 52,917 Value ($000) $8,359 Avg Close $127.93 Range $115.55 - $141.88

Q2 2019

Shares 55,081 Value ($000) $9,368 Avg Close $133.84 Range $127.29 - $138.45

Q1 2019

Shares 55,321 Value ($000) $8,687 Avg Close $131.85 Range $113.08 - $141.64

Q4 2018

Shares 54,796 Value ($000) $7,843 Avg Close $127.57 Range $107.21 - $137.04

Q3 2018

Shares 55,632 Value ($000) $9,154 Avg Close $137.68 Range $130.87 - $144.01

Q2 2018

Shares 55,496 Value ($000) $9,443 Avg Close $141.53 Range $132.54 - $148.86

Q1 2018

Shares 55,898 Value ($000) $10,305 Avg Close $146.61 Range $133.51 - $155.61

Q4 2017

Shares 55,791 Value ($000) $9,540 Avg Close $129.92 Range $121.79 - $138.71

Q3 2017

Shares 55,260 Value ($000) $8,899 Avg Close $122.44 Range $110.34 - $129.80

Q2 2017

Shares 54,209 Value ($000) $8,779 Avg Close $122.39 Range $114.25 - $127.61

Q1 2017

Shares 53,488 Value ($000) $8,276 Avg Close $124.95 Range $115.77 - $133.93

Q4 2016

Shares 47,276 Value ($000) $7,395 Avg Close $104.02 Range $86.11 - $122.08

Q3 2016

Shares 47,076 Value ($000) $5,466 Avg Close $88.80 Range $84.74 - $91.81

Q2 2016

Shares 46,651 Value ($000) $5,516 Avg Close $88.17 Range $81.12 - $92.11

Q1 2016

Shares 45,635 Value ($000) $5,065 Avg Close $81.93 Range $75.36 - $89.79

Q4 2015

Shares 45,556 Value ($000) $5,520 Avg Close $91.64 Range $83.48 - $95.93

Q3 2015

Shares 45,644 Value ($000) $5,566 Avg Close $93.27 Range $83.75 - $99.75

Q2 2015

Shares 45,629 Value ($000) $5,700 Avg Close $91.35 Range $87.23 - $95.80

Q1 2015

Shares 45,514 Value ($000) $5,780 Avg Close $89.29 Range $82.26 - $95.91

Q4 2014

Shares 45,458 Value ($000) $5,710 Avg Close $90.02 Range $82.27 - $94.90

Q3 2014

Shares 45,767 Value ($000) $5,643 Avg Close $89.75 Range $86.23 - $94.17

Q2 2014

Shares 46,006 Value ($000) $5,707 Avg Close $88.34 Range $84.00 - $91.61

Q1 2014

Shares 45,623 Value ($000) $5,534 Avg Close $83.18 Range $78.50 - $89.02

Q4 2013

Shares 45,176 Value ($000) $5,259 Avg Close $81.40 Range $78.07 - $84.34

Q3 2013

Shares 45,348 Value ($000) $5,075 Avg Close $82.37 Range $78.25 - $84.92

Q2 2013

Shares 45,356 Value ($000) $5,069 Avg Close $72.91 Range $67.52 - $79.57

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	39,223	$7,903	$190.09	$173.38 - $208.26
Q3 2025	40,115	$7,928	$193.71	$179.84 - $202.35
Q2 2025	40,521	$7,861	$172.90	$147.35 - $193.26
Q1 2025	40,694	$7,274	$184.51	$165.06 - $197.34
Q4 2024	42,415	$7,974	$192.14	$164.08 - $217.71
Q3 2024	43,495	$7,747	$159.11	$139.56 - $174.25
Q2 2024	44,864	$6,791	$138.95	$126.18 - $148.59
Q1 2024	44,976	$6,542	$130.61	$120.57 - $139.44
Q4 2023	44,771	$6,137	$117.30	$100.95 - $139.29
Q3 2023	45,468	$5,749	$120.47	$109.59 - $131.11
Q2 2023	45,312	$5,608	$110.64	$99.63 - $120.49
Q1 2023	45,466	$5,436	$131.45	$100.21 - $146.31
Q4 2022	45,083	$6,540	$147.80	$125.03 - $172.70
Q3 2022	47,043	$8,295	$158.03	$132.58 - $172.33
Q2 2022	47,032	$7,496	$149.08	$139.16 - $163.11
Q1 2022	46,696	$7,915	$155.43	$136.45 - $165.23
Q4 2021	45,754	$7,027	$134.29	$124.36 - $142.38
Q3 2021	45,403	$6,780	$120.25	$111.14 - $134.92
Q2 2021	47,183	$6,856	$134.57	$123.34 - $144.59
Q1 2021	47,056	$7,134	$126.15	$107.04 - $140.55
Q4 2020	46,888	$5,969	$96.63	$76.47 - $110.90
Q3 2020	47,056	$4,333	$85.82	$74.81 - $95.50
Q2 2020	46,963	$4,883	$87.80	$70.48 - $108.89
Q1 2020	47,067	$4,868	$121.20	$72.59 - $143.03
Q4 2019	47,045	$7,986	$132.84	$120.05 - $141.90
Q3 2019	52,917	$8,359	$127.93	$115.55 - $141.88
Q2 2019	55,081	$9,368	$133.84	$127.29 - $138.45
Q1 2019	55,321	$8,687	$131.85	$113.08 - $141.64
Q4 2018	54,796	$7,843	$127.57	$107.21 - $137.04
Q3 2018	55,632	$9,154	$137.68	$130.87 - $144.01
Q2 2018	55,496	$9,443	$141.53	$132.54 - $148.86
Q1 2018	55,898	$10,305	$146.61	$133.51 - $155.61
Q4 2017	55,791	$9,540	$129.92	$121.79 - $138.71
Q3 2017	55,260	$8,899	$122.44	$110.34 - $129.80
Q2 2017	54,209	$8,779	$122.39	$114.25 - $127.61
Q1 2017	53,488	$8,276	$124.95	$115.77 - $133.93
Q4 2016	47,276	$7,395	$104.02	$86.11 - $122.08
Q3 2016	47,076	$5,466	$88.80	$84.74 - $91.81
Q2 2016	46,651	$5,516	$88.17	$81.12 - $92.11
Q1 2016	45,635	$5,065	$81.93	$75.36 - $89.79
Q4 2015	45,556	$5,520	$91.64	$83.48 - $95.93
Q3 2015	45,644	$5,566	$93.27	$83.75 - $99.75
Q2 2015	45,629	$5,700	$91.35	$87.23 - $95.80
Q1 2015	45,514	$5,780	$89.29	$82.26 - $95.91
Q4 2014	45,458	$5,710	$90.02	$82.27 - $94.90
Q3 2014	45,767	$5,643	$89.75	$86.23 - $94.17
Q2 2014	46,006	$5,707	$88.34	$84.00 - $91.61
Q1 2014	45,623	$5,534	$83.18	$78.50 - $89.02
Q4 2013	45,176	$5,259	$81.40	$78.07 - $84.34
Q3 2013	45,348	$5,075	$82.37	$78.25 - $84.92
Q2 2013	45,356	$5,069	$72.91	$67.52 - $79.57