Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 218

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 218
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 on deposit accounts for the first nine months of 2025 increased $28 million as compared with the first nine months of 2024 reflecting higher commercial service charges that resulted from pricing changes and increased customer usage of sweep products.

Trust income

Trust income primarily includes revenues from two significant businesses managed within the Company's Institutional Services and Wealth Management segment. The Institutional Services business provides a variety of trustee, agency, investment management and administrative services for corporations and institutions, investment bankers, corporate tax, finance and legal executives, and other institutional clients who: (i) use capital markets financing structures; (ii) use independent trustees to hold assets; and (iii) need investment and cash management services. The Wealth Management business offers personal trust, planning and advisory, fiduciary, asset management, family office and other services designed to help high net worth individuals and families grow, preserve and transfer wealth.

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TRUST INCOME AND ASSETS UNDER MANAGEMENT

Three Months EndedChangeNine Months EndedChange(Dollars in millions)September 30,2025June 30,2025Amount%September 30,2025September 30,2024Amount%Trust incomeInstitutional Services$95 $96 $(1)-2 %$285 $256 $29 11 %Wealth Management85 85 — 1 252 241 11 5 Commercial1 1 — 4 3 3 — 7 Total trust income$181 $182 $(1)-1 %$540 $500 $40 8 %

(Dollars in millions)September 30,2025June 30,2025December 31, 2024September 30,2024Assets under management at period endTrust assets under management (excluding proprietary funds)$67,447 $66,199 $65,798 $66,739 Proprietary mutual funds15,833 14,543 14,461 15,092 Total assets under management$83,280 $80,742 $80,259 $81,831 

For the nine months ended September 30, 2025 trust income increased $40 million as compared with the similar 2024 period. Institutional Services trust income rose $29 million reflecting higher sales and fund management fees from its global capital markets business, while Wealth Management trust income increased $11 million reflecting comparatively favorable market performance associated with managed assets.

Other revenues from operations