Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 221

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 221
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edges is presented in note 10 of Notes to Financial Statements. The average notional amounts of interest rate swap agreements entered into for interest rate risk management purposes (excluding forward-starting interest rate swap agreements not in effect during the quarter), the related effect on net interest income and margin, and the weighted-average interest rates paid or received on those swap agreements are presented in the table that follows. 

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INTEREST RATE SWAP AGREEMENTS - EFFECT ON NET INTEREST INCOME 

Three Months EndedMarch 31, 2025December 31, 2024March 31, 2024(Dollars in millions)AmountRate (a)  AmountRate (a)AmountRate (a)Increase (decrease) in:Interest income$(53)-.11 %$(76)-.16 %$(87)-.18 %Interest expense9 .03 10 .03 13 .04 Net interest income/margin$(62)-.13 %$(86)-.18 %$(100)-.21 %Average notional amount (b)$23,816 $22,639 $19,202 Rate received (c)3.34 %3.29 %3.32 %Rate paid (c)4.39 4.81 5.38 __________________________________________________________________________________

(a)Computed as an annualized percentage of average earning assets or interest-bearing liabilities.

(b)Excludes forward-starting interest rate swap agreements not in effect during the period.

(c)Weighted-average rate paid or received on interest rate swap agreements in effect during the period.

Provision for Credit Losses

A provision for credit losses is recorded to adjust the level of the allowance to reflect expected credit losses that are based on economic forecasts as of each reporting date. A provision for credit losses of $130 million and $140 million was recorded in the first quarter of 2025 and fourth quarter of 2024, respectively, compared with $200 million in the year-earlier quarter. The lower provision for credit losses in the most recent two quarters as compared with the first quarter of 2024 reflects improved performance of loans to commercial real estate borrowers, partially offset by commercial and industrial and consumer loan growth and, in the recent quarter, a modest deterioration of macroeconomic forecasts. 

A summary of the Company's net loan charge-offs by loan type and as an annualized percent of such average loans is presented in the table that follows. 

NET CH