Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 261

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 261
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 revenue (expense)44 6 38 — 44 (84)128 — Provision for credit losses12 (19)31 — 12 55 (43)-77 Noninterest expense213 96 117 123 213 247 (34)-14 Loss before taxes(181)(71)(110)-156 (181)(386)205 53 Income taxes(66)(48)(18)-38 (66)(142)76 53 Net loss$(115)$(23)$(92)-399 %$(115)$(244)$129 53 %

The “All Other” category recorded a net loss in the first quarter of 2025 of $115 million, compared with a net loss of $23 million in the fourth quarter of 2024. 

•Net interest income increased $78 million due to the favorable impact from the Company’s allocation methodologies for internal transfers related to funding charges and credits associated with earning assets and interest-bearing liabilities of the Company’s reportable segments and lower net interest expense from interest rate swap agreements entered into for interest rate risk management purposes.

•Noninterest income decreased $40 million reflecting lower distributions from M&T's investment in BLG of $23 million and a net gain on bank investment securities of $18 million in the fourth quarter of 2024 that reflected realized gains on the sale of equity investments in Fannie Mae and Freddie Mac preferred securities, partially offset by net realized losses on the sale of certain non-agency investment securities.

•Provision for credit losses increased $31 million reflecting the net impact of the allocation of provision for credit losses to reportable segments.

•Noninterest expense increased $117 million reflecting a rise in personnel-related costs of $109 million, including the impact of annual merit increases and seasonally higher stock-based compensation and employee benefits expense in the recent quarter, and increased outside data processing and software costs of $12 million.

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The net loss recorded for the "All Other" category was $244 million in the first quarter of 2024. 

•Net interest income increased $148 million due to the favorable impact from the Company’s allocation methodologies for internal transfers related to funding charges and credits associated with earning assets and interest-bearing liabilities of the Company’s reportable segments and lower net interest expense from interest rate swap agreements entered into for interest rate risk management purposes.

•Noninterest income decreased $20 million reflecting the lack of distributions from M&T's investment in BLG in the recent