Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 172

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 172
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 securitizations were purchased by third parties whereas the residual interests of the trusts were retained by the Company. As a result of the retention of the residual interests and its continued role as servicer of the loans and leases, the Company is considered to be the primary beneficiary of the securitization trusts and, accordingly, the trusts have been included in the Company's consolidated financial statements. Assets held in each special purpose trust may only be used to settle the respective obligations of the asset-backed notes issued by that trust and the holders of the asset-backed notes have no recourse to the Company. The outstanding balances of those asset-backed notes issued to third party investors are included in Long-term borrowings in the Company's Consolidated Balance Sheet. Information about the asset-backed notes issued to investors and the respective special purpose trust at September 30, 2025 and December 31, 2024 are included in the following table.(Dollars in millions)September 30, 2025December 31, 2024Issue DateCollateral TypeRemaining Loan Collateral BalanceAsset-Backed Notes to InvestorsWeighted-Average Life (In years)Weighted-Average RateRemaining Loan Collateral BalanceAsset-Backed Notes to InvestorsAugust 2023Equipment finance loans and leases$284 $177 0.75.74 %$416 $297 March 2024Automobile loans282 269 1.35.25 383371August 2024Equipment finance loans and leases536 437 1.54.87 691561February 2025Automobile loans583 568 1.54.74 — — May 2025Equipment finance loans and leases591 478 1.94.75 — — $1,929 $1,229 M&T has issued Junior Subordinated Debentures payable to various trusts that have issued Preferred Capital Securities and Common Securities. M&T owns the Common Securities of those trust entities. The Company is not considered to be the primary beneficiary of those entities and, accordingly, the trusts are not included in the Company’s consolidated financial statements. At each of September 30, 2025 and December 31, 2024, the Company included the Junior Subordinated Debentures in Long-term borrowings in the Company's Consolidated Balance Sheet and included $16 million and $17 million, respectively, in Accrued interest and other assets for its “investment” in the Common Securities of the trusts that will be