Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 233

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 233
---
 funding strategy. Depending on market conditions, including demand by customers and other investors, and the cost of funds available from alternative sources, the Company may change the amount or composition of brokered deposits in the future. The following table provides an analysis of changes in the components of average deposits.

AVERAGE DEPOSITS

Three Months EndedSix Months Ended(Dollars in millions)June 30, 2025March 31, 2025Percentage ChangeJune 30, 2025June 30, 2024Percentage ChangeNoninterest-bearing deposits             $45,153 $45,436 -1 %$45,294 $48,175 -6 %Savings and interest-checking deposits94,042 91,573 3 92,814 87,300 6 Time deposits of $250,000 or less10,669 10,489 2 10,579 12,196 -13 Total core deposits149,864 147,498 2 148,687 147,671 1 Time deposits greater than $250,0003,053 2,954 3 3,004 3,486 -14 Brokered savings and interest-checking deposits9,9219,991-1 9,9568,11123 Brokered time deposits568777-27 6724,510-85 Total deposits$163,406 $161,220 1 %$162,319 $163,778 -1 %

Total deposits averaged $163.4 billion in the recent quarter, up from $161.2 billion in the first quarter of 2025.

•Average core deposits increased $2.4 billion from the first quarter of 2025 reflecting higher average savings and interest-checking deposits and customer time deposits.

•The decrease in average brokered deposits from the first quarter of 2025 reflected maturities of brokered time deposits.

In the first six months of 2025, total average deposits decreased $1.5 billion from the corresponding 2024 period. 

•Average core deposits grew $1.0 billion due to higher average balances of savings and interest-checking deposits reflecting growth and a shift in customer funds from noninterest-bearing accounts to interest-bearing products. Lower average balances of core time deposits in the first half of 2025 reflected comparatively lower rates paid on those products.

•Average brokered deposits declined $2.0 billion as compared with the