Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 130

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 130
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 changes in the composition of the Company’s portfolios of earning assets and interest-bearing liabilities that result in changes to spreads, could impact the Company’s net interest income and net interest margin. Future changes in the levels of net interest-free funds and the interest rates used to value such funds could also impact the Company's net interest margin. 

Management assesses the potential impact of future changes in interest rates and spreads by projecting net interest income under several interest rate scenarios. In managing interest rate risk, the Company has utilized interest rate swap agreements to modify the repricing characteristics of certain portions of its earning assets and interest-bearing liabilities. Under the terms of those interest rate swap agreements, the Company generally received payments based on the outstanding notional amount at fixed rates and made payments at variable rates. Periodic settlement amounts arising from these agreements are reflected in either the yields on earning assets or the rates paid on interest-bearing liabilities. The Company enters into forward-starting interest rate swap agreements predominantly to hedge interest rate exposures expected in future periods. Table 15 summarizes information about interest rate swap agreements entered into for interest rate risk management purposes at December 31, 2024 and 2023. 

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Table 15

INTEREST RATE SWAP AGREEMENTS - DESIGNATED AS HEDGES

Notional AmountWeighted-AverageMaturity(In years)Weighted-Average Rate (Dollars in millions)Fixed Variable December 31, 2024Fair value hedges:Fixed rate long-term borrowings — active$2,000 5.43.11 %5.07 %Fixed rate long-term borrowings — forward-starting3,350 6.23.81 4.49 Fixed rate available for sale securities — active15 0.14.84 4.36 Total fair value hedges5,365 5.8 Cash flow hedges:Variable rate commercial real estate loans and commercial and industrial loans:Active20,819 0.93.26 4.47 Forward-starting10,000 3.03.72 4.49 Total cash flow hedges30,819 1.6 Total$36,184 2.2 December 31, 2023Fair value hedges:Fixed rate long-term borrowings — active$2,000 6.43.11 %5.74 %Fixed rate long-term borrowings — forward-starting1,000 4.84.13 5.37 Total fair