Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 89

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 3 — 7 Total trust income$181 $182 $(1)-1 %$540 $500 $40 8 %

(Dollars in millions)September 30,2025June 30,2025December 31, 2024September 30,2024Assets under management at period endTrust assets under management (excluding proprietary funds)$67,447 $66,199 $65,798 $66,739 Proprietary mutual funds15,833 14,543 14,461 15,092 Total assets under management$83,280 $80,742 $80,259 $81,831 

For the nine months ended September 30, 2025 trust income increased $40 million as compared with the similar 2024 period. Institutional Services trust income rose $29 million reflecting higher sales and fund management fees from its global capital markets business, while Wealth Management trust income increased $11 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 EndedChangeNine Months EndedChange(Dollars in millions)September 30,2025June 30,2025Amount%September 30,2025September 30,2024Amount%Letter of credit and other credit-related fees$55 $58 $(3)-5 %$162 $143 $19 13 %Merchant discount and credit card fees51 50 1 — 140 130 10 7 Bank owned life insurance revenue (a)21 17 4 21 56 47 9 17 Equipment operating lease income12 14 (2)-18 37 33 4 12 BLG income (b)20 — 20 100 20 25 (5)-20 Other71 52 19 41 148 78 70 89 Total other revenues from operations$230 $191 $39 21 %$563 $456 $107 23 %__________________________________________________________________________________

(a)Tax-exempt income earned from bank owned life insurance includes increases in the cash surrender value of life insurance policies and benefits received. The Company owns both general account and separate account life insurance policies. To the extent market conditions change such that the market value of assets in a separate account bank