Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 225

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 225
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.42 billion in the corresponding 2024 period. That increase reflects an 8 basis-point widening of the net interest margin driven by a decrease of 55 basis points in the cost of interest-bearing liabilities, partially offset by a 27 basis-point decline in the yield received on earning assets. Contributing to the decrease in yields received on earning assets and rates paid on interest-bearing liabilities in the first half of 2025 as compared with the first half of 2024 was a reduction by the FOMC of its federal funds target interest rate by a total of 1.00% in the last four months of 2024. Partially offsetting the decline in yields received on earning assets was an increase in the yields received on investment securities from the deployment of liquidity into fixed rate investment securities from early 2024 through June 2025 that yielded higher rates than maturing investment securities. The Company continues to adjust its funding sources in consideration of the competitive landscape for customer deposits and maintenance of its liquidity profile. The Company's average balance sheets accompanied by the annualized taxable-equivalent interest income and expense and the average rate on the Company's earning assets and interest-bearing liabilities are presented as follows. 

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AVERAGE BALANCE SHEETS AND ANNUALIZED TAXABLE-EQUIVALENT RATES

Three Months EndedJune 30, 2025March 31, 2025(Dollars in millions)AverageBalanceInterestAverageRateAverageBalanceInterestAverageRateAssetsEarning assets:Loans (a):Commercial and industrial$61,036 $974 6.40 %$61,056 $958 6.36 %Commercial real estate25,333 404 6.31 26,259 405 6.16 Residential real estate23,684 268 4.52 23,176 257 4.44 Consumer25,354 415 6.57 24,353 394 6.57 Total loans135,407 2,061 6.11 134,844 2,014 6.06 Interest-bearing deposits at banks19,698 219 4.47 19,695 218 4.48 Trading account95 2 3.46 97 — 3.42 Investment securities (b):U.S. Treasury8,409 84 3.98 8,634 81 3.82 Mortgage-backed securities