Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 111

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 111
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 accounts. 

•The provision for credit losses rose $11 million reflecting higher net charge-offs of indirect consumer loans. 

•Noninterest expense increased $37 million predominantly due to higher centrally-allocated costs associated with data processing, risk management, and other support services provided to the Retail Bank segment of $35 million. 

•Average loans in the recent quarter grew $2.2 billion from 2024's initial quarter, reflecting recreational finance and automobile loan growth.

•Lower average deposits in the recent quarter as compared with the first quarter of 2024 reflect the maturity of customer time deposit accounts and lower noninterest-bearing deposits.

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Institutional Services & Wealth Management

The Institutional Services and Wealth Management segment provides a variety of trustee, agency, investment management and administrative services for corporations and institutions, investment bankers, corporate tax, finance and legal executives, and other institutional clients, as well as 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. This segment also provides investment products, including mutual funds and annuities and other services to customers. 

INSTITUTIONAL SERVICES & WEALTH MANAGEMENT SEGMENT FINANCIAL SUMMARY

Three Months EndedChangeThree Months EndedChange(Dollars in millions)March 31, 2025December 31, 2024Amount%March 31, 2025March 31, 2024Amount%Income StatementNet interest income$171 $183 $(12)-6 %$171 $186 $(15)-8 %Noninterest income209 207 2 1 209 191 18 10 Total revenue380 390 (10)-2 380 377 3 1 Provision for credit losses3 — 3 100 3 — 3 100 Noninterest expense215 221 (6)-2 215 205 10 5 Income before taxes162 169 (7)-4 162 172 (10)-6 Income taxes41 43 (2)-6 41 44 (3)-7 Net income$121 $126 $(5)-4 %$121 $128 $(7)-5 %Average Balance SheetLoans and leases:Commercial and industrial$889 $771 $118 15 %$889 $783 $106 14 %Commercial