Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 6

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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733 — — — — — — 733 Preferred stock cash dividends— — — — (52)— — (52)Stock-based compensation transactions, net— — — (44)(1)— 183 138 Common stock cash dividends — $2.65 per share— — — — (446)— — (446)Balance — June 30, 2024$2,744 $90 $1 $9,976 $18,211 $(551)$(2,047)$28,424 

See accompanying notes to financial statements.

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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. Standards applicable to M&T but not yet adopted at June 30, 2025 primarily address enhanced disclosure requirements for income taxes and the disaggregated income statement presentation of certain expenses and are not expected to have a material impact to the Company's consolidated financial statements.

2. DivestitureIn 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 in the Company's Consolidated Statement of Income for the three-month and six-month periods ended June 30, 2025. The revenues and expenses of that subsidiary were not material to the Company's consolidated results of operations for each of the three-month and six-month periods ended June 30, 2025 and 2024.

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3. Investment securities

The amortized cost and estimated fair value of investment securities were as follows:(Dollars in millions)AmortizedCost (a)GrossUnrealizedGainsGrossUnrealizedLossesEstimatedFair ValueJune 30, 2025Investment securities available for sale:U.S. Treasury $7,804 $39 $6 $7,837 Mortgage-backed securities:Government issued or guaranteed:Commercial4,708 63