Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 217

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 217
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,649 $16,249 $12,634 $164,065 

Funding activities - borrowings

The following table summarizes the average balances utilized from the Company's short-term and long-term borrowing facilities and note programs.

AVERAGE BORROWINGS

Three Months Ended(Dollars in millions)March 31,2025December 31,2024March 31,2024Short-term borrowings:Federal funds purchased and repurchase agreements$86 $107 $307 FHLB advances2,783 2,456 5,921 Total short-term borrowings2,869 2,563 6,228 Long-term borrowings:Senior notes8,135 7,334 6,418 FHLB advances671 2,004 1,323 Subordinated notes500 500 977 Junior subordinated debentures410 526 540 Asset-backed notes1,559 1,291 505 Other10 10 10 Total long-term borrowings11,285 11,665 9,773 Total borrowings$14,154 $14,228 $16,001 

The Company uses borrowing capacity from banks, the FHLBs, the FRB of New York and others as sources of funding. Short-term borrowings represent arrangements that at the time they were entered into had a contractual maturity of one year or less. The lower levels of average short-term borrowings in the first quarter of 2025 as compared with the first quarter of 2024 reflect the Company's management of liquidity, including reductions in short-term wholesale funding sources. Average short-term borrowings in the first quarter of 2025 were modestly higher as compared with the fourth quarter of 2024.

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Long-term borrowings averaged $11.3 billion, $11.7 billion and $9.8 billion during the three-month periods ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively. The increased usage of borrowing facilities in the first quarter of 2025 and fourth quarter of 2024 as compared with the first quarter of 2024 reflects the Company's strategies to diversify its wholesale funding sources to provide long-term funding stabilization and prepare for proposed regulations enumerating certain long-term debt requirements as described in Part I, Item 1 "Resolution Planning and Resolution-Related Requirements" of M&T's 202