Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 42

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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Amount of future funding commitments included in carrying amount (b)596 467 Contingent commitments83 69 Renewable energy:Carrying amount (a)104 135 Amount of future funding commitments included in carrying amount (b)101 46 Other:Carrying amount (a)35 37 Amount of future funding commitments included in carrying amount— — __________________________________________________________________________________(a)Included in Accrued interest and other assets in the Company's Consolidated Balance Sheet.(b)Included in Accrued interest and other liabilities in the Company's Consolidated Balance Sheet.The reduction to income tax expense recognized from the Company's investments in partnerships accounted for using the proportional amortization method was $10 million (net of $45 million of investment amortization) and $8 million (net of $45 million of investment amortization) for the three months ended June 30, 2025 and 2024, respectively, and $20 million (net of $89 million of investment amortization) and $15 million (net of $88 million of investment amortization) for the six months ended June 30, 2025 and 2024, respectively. The net reduction to income tax expense has been reported in Net change in other accrued income and expense in the Company's Consolidated Statement of Cash Flows. While the Company has elected to apply the proportional amortization method for renewable energy credit investments, at June 30, 2025 no such investments met the eligibility criteria for application of that method. The reduction to income tax expense recognized from renewable energy credit investments was $6 million and $12 million for the three-month and six-month periods ended June 30, 2025, respectively, and $9 million and $20 million for the three-month and six-month periods ended June 30, 2024, respectively. As a limited partner, there is no recourse to the Company by creditors of the partnerships. However, the tax credits that result from the Company’s investments in such partnerships are generally subject to recapture should a partnership fail to comply with the respective government regulations. The Company has not provided financial or other support to the partnerships that was not contractually required. Although the Company currently estimates that no material losses are probable, its maximum exposure to loss from its investments in such partnerships as of June 30, 2025 was $2.1 billion, including possible recapture of certain tax credits. The Company serves as investment advisor for certain registered money-market funds. The Company has