Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 37

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 contracts, foreign exchange and other option and futures contracts. Interest rate contracts not designated as hedging instruments had notional values of $42.7 billion and $40.5 billion at June 30, 2025 and December 31, 2024, respectively. The notional amounts of foreign currency and other option and futures contracts not designated as hedging instruments aggregated $1.7 billion and $1.6 billion at June 30, 2025 and December 31, 2024, respectively.

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11. Derivative financial instruments, continued

Information about the fair values of derivative instruments in the Company’s Consolidated Balance Sheet and Consolidated Statement of Income follows: Asset DerivativesLiability Derivatives Fair ValueFair Value(Dollars in millions)June 30,2025December 31,2024June 30,2025December 31,2024Derivatives designated and qualifying as hedging instruments (a)    Interest rate swap agreements$24 $2 $— $3 Commitments to sell real estate loans3 4 4 —  27 6 4 3 Derivatives not designated and qualifying as hedging instruments (a)    Mortgage banking:    Commitments to originate real estate loans for sale17 4 25 32 Commitments to sell real estate loans27 39 7 —  44 43 32 32 Other:    Interest rate contracts (b)168 185 493 769 Foreign exchange and other option and futures contracts26 21 25 18  194 206 518 787 Total derivatives$265 $255 $554 $822 __________________________________________________________________________________(a)Asset derivatives are included in Accrued interest and other assets and liability derivatives are included in Accrued interest and other liabilities in the Company's Consolidated Balance Sheet.(b)The impact of variation margin payments at June 30, 2025 and December 31, 2024 was a reduction of the estimated fair value of interest rate contracts not designated as hedging instruments in an asset position of $440 million and $686 million, respectively, and in a liability position of $32 million and $15 million, respectively.Amount of Gain (Loss) RecognizedThree Months Ended June 30,20252024(Dollars in millions)Derivative Hedged ItemDerivative Hedged ItemDerivatives in