Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 177

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 177
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 million at December 31, 2024 ($187 million and $660 million of which were classified as Level 2 and Level 3, respectively) and $805 million at September 30, 2024 ($159 million and $646 million of which were classified as Level 2 and Level 3, respectively). Changes in fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on September 30, 2025 were decreases of $67 million and $154 million for the three-month and nine-month periods ended September 30, 2025, respectively. Changes in fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on September 30, 2024 were decreases of $81 million and $204 million for the three-month and nine-month periods ended September 30, 2024, respectively.Capitalized servicing rightsCapitalized servicing rights related to mortgage loans required no valuation allowance at each of September 30, 2025, December 31, 2024 and September 30, 2024.Disclosures of fair value of financial instrumentsThe carrying amounts and estimated fair value for certain financial instruments that are not recorded at fair value in the Company's Consolidated Balance Sheet are presented in the following table:(Dollars in millions)CarryingAmount EstimatedFair Value Level 1Level 2 Level 3 September 30, 2025Financial assets:Cash and cash equivalents$1,950 $1,950 $1,811 $139 $— Interest-bearing deposits at banks16,751 16,751 — 16,751 — Investment securities held to maturity12,711 11,924 — 11,879 45 Loans, net134,813 134,595 — 7,113 127,482 Financial liabilities:Time deposits13,620 13,591 — 13,591 — Short-term borrowings2,059 2,059 — 2,059 — Long-term borrowings12,928 13,163 — 13,163 — December 31, 2024Financial assets:Cash and cash equivalents1,909 1,909 1,749 160 — Interest-bearing deposits at banks18,873 18,873 — 18,873 — Investment securities held to maturity14,195 12,955