Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 174

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 174
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 leases:Commercial and industrial$747 $787 $820 $(40)-5 %$(33)-4 %Commercial real estate38 56 56 (18)-32 — — Residential real estate2,036 1,766 1,629 270 15 137 8 Consumer745 804 810 (59)-7 (6)-1 Total loans and leases$3,566 $3,413 $3,315 $153 4 %$98 3 %Deposits:Noninterest-bearing$9,168 $9,224 $11,676 $(56)-1 %$(2,452)-21 %Interest-bearing8,113 7,137 7,680 976 14 (543)-7 Total deposits$17,281 $16,361 $19,356 $920 6 %$(2,995)-15 %

Net income for the Institutional Services and Wealth Management segment was $535 million in 2024, a decrease of $85 million from 2023.

•Net interest income increased $48 million reflecting a widening of the net interest margin on deposits of 3 basis points and an increase in average outstanding deposit balances of $920 million.

•Noninterest income decreased $196 million predominantly due to the $225 million gain on sale of the CIT business in the second quarter of 2023 and a decline in trust income of $6 million. The lower trust income reflects lower revenues associated with the CIT business of $60 million following its sale, partially offset by higher non-CIT related revenues of $54 million reflecting improved sales in the segment's global capital markets business and a rise in fee income from the wealth management business reflecting higher assets under management and favorable market performance. Those unfavorable factors were partially offset by higher brokerage services income of $19 million, reflecting increased annuities sales.

104

•Noninterest expense decreased $36 million reflecting a $57 million decline in professional and other services expense due, in part, to lower sub-advisory fees as a result of the sale of the CIT business, partially offset by an increase of $9 million in centrally-allocated costs associated with data processing, risk management, and other support services provided to the Institutional Services and Wealth Management segment and $8 million in personnel-related costs. 

All Other

Table 47

ALL OTHER CATEGORY FINANCIAL SUMMARY

Change from2023 to