Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 63

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 securities (a)13,079 11,704 12 12,395 4,553 172 Other debt securities3 3 -9 3 165 -98 Total available for sale21,048 19,702 7 20,378 12,801 59 Investment securities held to maturity:U.S. Treasury443 639 -31 541 1,007 -46 Mortgage-backed securities (a)10,504 10,749 -2 10,626 11,615 -9 State and political subdivisions2,274 2,313 -2 2,293 2,466 -7 Other debt securities1 1 -3 1 1 -14 Total held to maturity13,222 13,702 -4 13,461 15,089 -11 Equity and other securities1,065 1,076 -1 1,070 1,251 -14 Total investment securities$35,335 $34,480 2 %$34,909 $29,141 20 %__________________________________________________________________________________

(a)Primarily government issued or guaranteed.

The investment securities portfolio averaged $35.3 billion in the second quarter of 2025, up $855 million from the first quarter of 2025. That increase reflects the deployment of liquidity into primarily fixed rate investment securities, including purchases of fixed rate agency mortgage-backed securities and U.S. Treasury securities of $1.2 billion and $638 million, respectively, in the recent quarter, into the Company's available-for-sale investment securities portfolio. In the first six months of 2025 and 2024, investment securities averaged $34.9 billion and $29.1 billion, respectively. The Company purchased fixed rate agency mortgage-backed securities and U.S. Treasury securities of $8.5 billion and $3.1 billion, respectively, since June 30, 2024. As a result of the elevated interest rate environment throughout much of 2024 and the maturities of lower-yielding securities, the weighted-average current yield for total investment securities available for sale increased to 4.50% at June 30, 2025 and 4.42% at March 31, 2025, compared with 3.83% at June 30, 2024.  The weighted-average duration of the available-for