Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 11

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 2025;    11,642 shares at December 31, 20241 1 Additional paid-in capital9,968 9,998 Retained earnings19,405 19,079 Accumulated other comprehensive income (loss), net90 (164)Treasury stock — common, at cost — 16,894,734 shares at March 31, 2025;    13,922,820 shares at December 31, 2024(2,957)(2,371)Total shareholders’ equity28,991 29,027 Total liabilities and shareholders’ equity$210,321 $208,105 __________________________________________________________________________________

(a)Loans and leases of $2.1 billion and $1.5 billion at March 31, 2025 and December 31, 2024, respectively, were held in special purpose trusts to settle the respective obligations of asset-backed notes issued by those trusts. The outstanding balances of those asset-backed notes were included in Long-term borrowings and were $1.8 billion at March 31, 2025 and $1.2 billion at December 31, 2024.

See accompanying notes to financial statements.

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M&T Bank Corporation and Subsidiaries

Consolidated Statement of Income (Unaudited)

Three Months Ended March 31,(Dollars in millions, except per share, shares in thousands)20252024Interest incomeLoans and leases$2,006 $2,097 Investment securities:Fully taxable321 212 Exempt from federal taxes15 16 Deposits at banks218 419 Other— 1 Total interest income2,560 2,745 Interest expenseSavings and interest-checking deposits552 615 Time deposits124 225 Short-term borrowings32 84 Long-term borrowings157 141 Total interest expense865 1,065 Net interest income1,695 1,680 Provision for credit losses130 200 Net interest income after provision for credit losses1,565 1,480 Other incomeMortgage banking revenues118 104 Service charges on deposit accounts133 124 Trust income177 160 Brokerage services income32 29 Trading account and other non-hedging derivative gains9 9 Gain (loss) on bank investment securities— 2 Other revenues from operations142 152 Total other income611