Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 254

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 2
Chunk 254
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649 $151,304 __________________________________________________________________________________

(a)The contractual servicing rights associated with residential mortgage loans sub-serviced by the Company were predominantly held by affiliates of BLG. Information about the Company’s relationship with BLG and its affiliates is included in note 16 of Notes to Financial Statements.

The higher balances of residential mortgage loans sub-serviced for others at September 30, 2025 and June 30, 2025 as compared with December 31, 2024 and September 30, 2024, and the corresponding increase in related revenues for the nine months ended September 30, 2025 as compared with the nine months ended September 30, 2024, reflect an arrangement effective February 2025 whereby the Company began sub-servicing $51.7 billion of additional residential mortgage loans with contractual servicing rights held by Bayview Financial. The increase in residential mortgage banking revenues in the third quarter of 2025 as compared with the second quarter of 2025 reflects a rise in the level of delinquent loans sub-serviced for others, which generated higher sub-servicing fees.

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COMMERCIAL MORTGAGE BANKING ACTIVITIES

Three Months EndedChangeNine Months EndedChange(Dollars in millions)September 30,2025June 30,2025Amount%September 30,2025September 30,2024Amount%Commercial mortgage banking revenuesGains on loans originated for sale$20 $14 $6 33 %$50 $35 $15 41 %Loan servicing fees and other19 19 — 6 58 55 3 8 Total commercial mortgage banking revenues$39 $33 $6 18 %$108 $90 $18 21 %Loans originated for sale to other investors$1,051 $1,368 $(317)-23 %$3,138 $2,861 $277 10 %

(Dollars in millions)September 30,2025June 30,2025December 31, 2024September 30,2024Balances at period endLoans held for sale$278 $361 $310 $716 Commitments to originate loans for sale1,074 659 479 825 Commitments to sell loans1,292 1,017 789 1,521 Capitalized mortgage servicing rights123 124