Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 124

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 124
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 at December 31, 2023. Home equity loans and lines of credit outstanding were $4.6 billion at each of December 31, 2024 and 2023.

Investing activities

The Company's investment securities portfolio is largely comprised of government-issued or guaranteed commercial and residential mortgage-backed securities and U.S. Treasury securities, but also includes municipal and other securities. When purchasing investment securities, the Company considers its liquidity position and its overall interest rate risk profile as well as the adequacy of expected returns relative to risks assumed, including prepayments. The Company may occasionally sell investment securities as a result of movements in interest rates and spreads, changes in liquidity needs, actual or anticipated prepayments, credit risk associated with a particular security, or as a result of restructuring its investment securities portfolio in connection with a business combination. The amounts of investment securities held by the Company are influenced by such factors as available yield in comparison with alternative investments, demand for loans, which generally yield more than investment securities, ongoing repayments, the levels of deposits, and management of liquidity and balance sheet size and resulting capital ratios.

Information about the Company's average investment securities portfolio is presented in the following table.

Table 10

AVERAGE INVESTMENT SECURITIES

Percentage Change From(Dollars in millions)20242023 to 20242022 to 2023Investment securities available for sale:U.S. Treasury$8,028 1 %58 %Mortgage-backed securities (a)6,605 115 -5 Other debt securities125 -30 3 Total available for sale14,758 32 32 Investment securities held to maturity:U.S. Treasury1,010 -3 9 Mortgage-backed securities (a)11,363 -6 55 State and political subdivisions2,428 -4 25 Other debt securities1 -25 -23 Total held to maturity14,802 -5 46 Equity and other securities1,195 9 55 Total investment securities$30,755 10 %40 %

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(a)Primarily government issued or guaranteed.

The investment securities portfolio averaged $30.8 billion in 2024, up $2.8 billion from 2023. That increase reflects the Company's deployment of liquidity in 2024 and 2023 into primarily fixed-rate investment securities, including the purchase of $5.1 billion of U.S. Treasury