Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 250

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 250
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1.35 1.30 Preferred stock36 35 25 __________________________________________________________________________________

(a)Reconciliations of total common shareholders’ equity and tangible common equity and total assets and tangible assets as of each of those dates are presented in Table 2.

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Shareholders’ equity reflects accumulated other comprehensive income or loss, which includes the net after-tax impact of unrealized gains or losses on investment securities classified as available for sale, gains or losses associated with interest rate swap agreements designated as cash flow hedges and adjustments to reflect the funded status of defined benefit pension and other postretirement plans. The components of accumulated other comprehensive income (loss) are presented in the following table.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - NET OF INCOME TAX

(Dollars in millions, except per share)March 31, 2025December 31, 2024March 31, 2024Investment securities unrealized gains (losses), net (a)$(6)$(153)$(197)Cash flow hedges unrealized gains (losses), net (b)7 (101)(268)Defined benefit plans adjustments, net (c)96 98 (116)Other, net(7)(8)(8)Total$90 $(164)$(589)Accumulated other comprehensive income (loss), net, per common share$0.56 $(0.99)$(3.53)__________________________________________________________________________________

(a)Refer to note 2 of Notes to Financial Statements.

(b)Refer to note 10 of Notes to Financial Statements.

(c)Refer to note 7 of Notes to Financial Statements.

Reflected in the carrying amount of available-for-sale investment securities at March 31, 2025 were pre-tax effect unrealized gains of $113 million on securities with an amortized cost of $13.7 billion and pre-tax effect unrealized losses of $121 million on securities with an amortized cost of $7.1 billion. Information concerning the Company’s fair valuations of investment securities is provided in notes 2 and 12 of Notes to Financial Statements. As also described in note 2 of Notes to Financial Statements, the Company does not expect any material credit-related losses with respect to its investment securities portfolio at March 31, 2025.

On January 22, 2025, M&T's Board of Directors authorized a program under which $4.0 billion of common shares may be rep