M & T BK CORP

Ticker: MTB CUSIP: 55261F104 Class: COM

Park Avenue Institutional Advisers LLC's Holding History (CIK: 0001640801)

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

Q2 2016

Shares 1,008 Value ($000) $119 Avg Close $88.17 Range $81.12 - $92.11

Q1 2016

Shares 1,008 Value ($000) $112 Avg Close $81.93 Range $75.36 - $89.79

Q4 2015

Shares 1,035 Value ($000) $125 Avg Close $91.64 Range $83.48 - $95.93

Q3 2015

Shares 885 Value ($000) $108 Avg Close $93.27 Range $83.75 - $99.75

Q2 2015

Shares 911 Value ($000) $114 Avg Close $91.35 Range $87.23 - $95.80

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	1,008	$119	$88.17	$81.12 - $92.11
Q1 2016	1,008	$112	$81.93	$75.36 - $89.79
Q4 2015	1,035	$125	$91.64	$83.48 - $95.93
Q3 2015	885	$108	$93.27	$83.75 - $99.75
Q2 2015	911	$114	$91.35	$87.23 - $95.80