Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 219

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 219
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The components of other revenues from operations are presented in the accompanying table.

OTHER REVENUES FROM OPERATIONS

Three Months EndedChangeNine Months EndedChange(Dollars in millions)September 30,2025June 30,2025Amount%September 30,2025September 30,2024Amount%Letter of credit and other credit-related fees$55 $58 $(3)-5 %$162 $143 $19 13 %Merchant discount and credit card fees51 50 1 — 140 130 10 7 Bank owned life insurance revenue (a)21 17 4 21 56 47 9 17 Equipment operating lease income12 14 (2)-18 37 33 4 12 BLG income (b)20 — 20 100 20 25 (5)-20 Other71 52 19 41 148 78 70 89 Total other revenues from operations$230 $191 $39 21 %$563 $456 $107 23 %__________________________________________________________________________________

(a)Tax-exempt income earned from bank owned life insurance includes increases in the cash surrender value of life insurance policies and benefits received. The Company owns both general account and separate account life insurance policies. To the extent market conditions change such that the market value of assets in a separate account bank owned life insurance policy becomes less than the previously recorded cash surrender value, an adjustment is recorded as a reduction to other revenues from operations.

(b)During 2017, the operating losses of BLG resulted in M&T reducing the carrying value of its investment in BLG to zero. Subsequently, M&T has received cash distributions when declared by BLG that result in the recognition of income by M&T. M&T expects cash distributions from BLG in the future, but the timing and amount of those distributions are not within M&T's control. BLG is entitled to receive distributions from its affiliates that provide asset management and other services that are available for distribution to BLG’s owners, including M&T. Information about the Company’s relationship with BLG and its affiliates is included in note 16 of Notes to Financial Statements.

Other revenues from operations increased $39 million in the third quarter of 2025 as compared with the second quarter of 2025 reflecting a distribution of an earnout payment of $28 million related to the Company's 2023 sale of its CIT business, a