Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 119

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 119
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 commercial and industrial loans at December 31, 2024 totaled $11.0 billion. The real estate securing such loans is typically used in the primary business operations of the borrower and is not predominantly dependent on rental income from tenants. The Company also provides financing for leases to commercial customers. Commercial leases included in total commercial and industrial loans at December 31, 2024 aggregated $2.7 billion.

Commercial and industrial loans and leases increased $4.5 billion from December 31, 2023 to December 31, 2024 reflecting growth that spanned most industry types. Contributing to that increase was strong demand for credit from motor vehicle and recreational finance dealers. Loans to customers in that industry grew $1.4 billion, or 17%, from the end of 2023. Additionally, loans to customers in the services and the financial and insurance industries increased $877 million, or 10%, and $800 million, or 7%, respectively, in that same period. Borrowers in the financial and insurance industry include real estate investment trusts and other specialty lending businesses including fund banking companies and mortgage warehouse lending businesses. Table 8 presents information on commercial and industrial loans as of December 31, 2024 relating to borrower industry, geographic area, size and whether the loans are secured by collateral or unsecured.

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Table 8

COMMERCIAL AND INDUSTRIAL LOANS AND LEASES

December 31, 2024(Dollars in millions)New YorkMid-  Atlantic (a)New  England (b)OtherTotalPercent of TotalCommercial and industrial excluding owner-occupied real estate by industry:Financial and insurance$2,939 $2,094 $1,489 $4,957 $11,479 19 %Services1,536 3,020 1,413 1,440 7,409 12 Motor vehicle and recreational finance dealers1,943 2,300 821 2,165 7,229 12 Manufacturing1,409 2,210 832 1,626 6,077 10 Wholesale1,026 1,690 628 713 4,057 6 Transportation, communications, utilities360 1,017 457 1,733 3,567 6 Retail634 1,003 307 1,153 3,097 5 Construction440 849 158 696 2,143