Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 89

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 need investment and cash management services. The Wealth Management business offers personal trust, planning and advisory, fiduciary, asset management, family office and other services designed to help high net worth individuals and families grow, preserve and transfer wealth.

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TRUST INCOME AND ASSETS UNDER MANAGEMENT

Three Months EndedChangeSix Months EndedChange(Dollars in millions)June 30,2025March 31,2025Amount%June 30,2025June 30,2024Amount%Trust incomeInstitutional Services$96 $94 $2 2 %$190 $168 $22 13 %Wealth Management85 82 3 3 167 160 7 4 Commercial1 1 — 8 2 2 — — Total trust income$182 $177 $5 3 %$359 $330 $29 9 %

(Dollars in millions)June 30,2025March 31,2025December 31, 2024June 30,2024Assets under management at period endTrust assets under management (excluding proprietary funds)$66,199 $64,554 $65,798 $65,274 Proprietary mutual funds14,543 15,938 14,461 14,139 Total assets under management$80,742 $80,492 $80,259 $79,413 

As compared with the first quarter of 2025, trust income increased $5 million reflecting seasonal tax service fees recognized by the Wealth Management business in the recent quarter.

For the six months ended June 30, 2025 trust income totaled $359 million as compared with $330 million in the similar 2024 period. 

•Institutional Services trust income rose $22 million reflecting higher sales and fund management fees from its global capital markets business.

•Wealth Management trust income increased $7 million reflecting comparatively favorable market performance associated with managed assets.

Other revenues from operations

The components of other revenues from operations are presented in the accompanying table.

OTHER REVENUES FROM OPERATIONS

Three Months EndedChangeSix Months EndedChange(Dollars in millions)June 30,2025March 31,2025Amount%June 30,2025June 30,2024Amount%Letter of credit and other credit-related fees$58 $49 $9 20 %$107 $93