Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 192

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 192
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2,680 2.71 131,475 3,195 3.24 Noninterest-bearing deposits44,877 47,498 Other liabilities4,003 4,202 Total liabilities181,141 183,175 Shareholders’ equity28,748 27,833 Total liabilities and shareholders’ equity$209,889 $211,008 Net interest spread2.83 2.55 Contribution of interest-free funds.83 1.03 Net interest income/margin on earning assets$5,202 3.66 %$5,162 3.58 %Memo:Total deposits$162,450 $2,086 1.71 %$163,015 $2,510 2.06 %__________________________________________________________________________________

(a)Includes nonaccrual loans.

(b)Includes available-for-sale securities at amortized cost.

(c)Primarily government issued or guaranteed.

(d)The yield on state and political subdivision investment securities for the nine-month period ended September 30, 2025 reflects $18 million of lower taxable-equivalent interest income resulting from an alignment of amortization periods for certain municipal bonds obtained from the acquisition of People's United.

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Taxable-equivalent net interest income can be impacted by changes in the composition of the Company's earning assets and interest-bearing liabilities, as discussed herein, as well as changes in interest rates and spreads. The FOMC lowered its federal funds target interest rate by a total of 100 basis points in the last four months of 2024 and by 25 basis points in September 2025. 

Taxable-equivalent net interest income increased $51 million in the recent quarter as compared with the second quarter of 2025 reflecting an additional day of earnings, favorable earning assets and interest-bearing liabilities repricing and the impact of $20 million of lower taxable-equivalent interest income in the second quarter of 2025 resulting from an alignment of amortization periods for certain municipal bonds obtained from the acquisition of People’s United. The net interest margin increased 6 basis points over that same time period. The FOMC reduction in its federal funds target interest rate in September 2025 had little impact on the Company's taxable-equivalent net interest income for the three months ended September 30, 2025.

Taxable-equivalent net interest income for the first nine months of 2025 increased $40 million as compared with the same 2024 period.