Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 136

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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Notes to Financial Statements (Unaudited)1. Significant accounting policies

The consolidated interim financial statements of the Company were compiled in accordance with GAAP using the accounting policies set forth in note 1 of Notes to Financial Statements included in M&T's 2024 Annual Report. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented. The following table provides a description of accounting standards applicable to M&T but not yet adopted at September 30, 2025.Recent accounting developmentsStandardDescriptionRequired dateof adoptionEffect on consolidated financial statementsStandards not yet adopted as of September 30, 2025Income Taxes - Improvements to income tax disclosuresThe standard requires enhanced disclosures in the notes to financial statements including income taxes paid by jurisdiction (federal, state, foreign) and a tabular rate reconciliation between the reported amount of income tax expense (or benefit) and the amount of statutory federal income tax at current rates.December 31, 2025The Company intends to make the required disclosures of the amended guidance in its consolidated financial statements for the year ended December 31, 2025. Income Statement - Expense disaggregation disclosuresThe standard requires disclosure in the notes to financial statements of specified information about certain cost and expense captions on the income statement. January 1, 2027The Company does not expect the guidance will have a material impact on its consolidated financial statements.Targeted improvements to the accounting for internal-use softwareThe standard eliminates the concept of a software development project stage such that the guidance is agnostic to different software development methods and introduces a new threshold for cost capitalization. The standard also provides factors to consider when determining whether significant development uncertainty exists. January 1, 2028The Company is evaluating the impact of the standard but does not expect the guidance will have a material impact on its consolidated financial statements.

2. DivestituresIn September 2025 the Company received an earnout payment of $28 million related to the Company's sale of its CIT business in 2023. That distribution has been included in Other revenues from operations in the Company's Consolidated Statement of Income for the three-month and nine-month periods ended September 30, 2025.In May 2025 the Company sold Wilmington Trust SP Services Inc., a subsidiary that specialized in institutional services, to a third party. The transaction resulted in a gain of $10 million that has been included in Other revenues from operations