Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 122

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 122
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. Under this program, loans are sold with partial credit recourse to M&T Realty Capital. The amount of recourse is generally limited to one-third of any credit loss incurred by the purchaser on an individual loan, although in some cases the recourse amount is less than one-third of the outstanding principal balance. The Company’s maximum credit risk for recourse associated with sold commercial real estate loans was approximately $4.2 billion at December 31, 2024, compared with $3.9 billion at December 31, 2023. There have been no material losses incurred as a result of those recourse arrangements.

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Table 9

COMMERCIAL REAL ESTATE LOANS

New York StateDecember 31, 2024(Dollars in millions)New York City OtherMid-Atlantic (a)New England (b)Other TotalPercent of TotalPermanent finance by property type:Apartments/Multifamily$934 $1,243 $1,053 $1,387 $1,011 $5,628 21 %Retail/Service859 982 1,155 1,243 508 4,747 18 Office568 939 1,003 1,201 459 4,170 16 Health services60 403 750 352 473 2,038 8 Hotel135 369 645 438 397 1,984 7 Industrial/Warehouse145 329 535 423 494 1,926 7 Other108 77 42 60 — 287 1 Total permanent2,809 4,342 5,183 5,104 3,342 20,780 78 Construction/Development:Commercial:Construction888 610 1,756 676 1,032 4,962 18 Land/Land development89 9 56 14 19 187 1 Residential builder and developer:Construction32 6 47 17 482 584 2 Land/Land development— — 25 9 217 251 1 Total construction/development (c)1,009 625 1,884 716 1,750 5,984 22 Total commercial real estate $3,818 $4,967 $7,067 $5,820 $5,092 $26,764 100 %Percent of total14 %