Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 171

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 171
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 Valuation is based on quoted prices in active markets for identical assets and liabilities.•Level 2 — Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market.•Level 3 — Valuation is derived from model-based and other techniques in which at least one significant input is unobservable and which may be based on the Company's own estimates about the assumptions that market participants would use to value the asset or liability.When available, the Company attempts to use quoted market prices in active markets to determine fair value and classifies such items as Level 1 or Level 2. If quoted market prices in active markets are not available, fair value is often determined using model-based techniques incorporating various assumptions including interest rates, prepayment speeds and credit losses. Assets and liabilities valued using model-based techniques are classified as either Level 2 or Level 3, depending on the lowest level classification of an input that is considered significant to the overall valuation. A description of the valuation methodologies used for the Company's assets and liabilities that are measured at estimated fair value on a recurring basis and on a nonrecurring basis is included in note 19 of Notes to Financial Statements in M&T's 2024 Annual Report.

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13. Fair value measurements, continued

The following tables present assets and liabilities at June 30, 2025 and December 31, 2024 measured at estimated fair value on a recurring basis:(Dollars in millions)Fair Value MeasurementsLevel 1Level 2Level 3 (a)June 30, 2025    Trading account$93 $93 $— $— Investment securities available for sale:   U.S. Treasury7,837 — 7,837 — Mortgage-backed securities:    Government issued or guaranteed:   Commercial4,767 — 4,767 — Residential8,933 — 8,933 — Other3 — 3 —  21,540 — 21,540 — Equity securities274 274 — — Real estate loans held for sale583 — 583 — Other assets (b)265 — 260 5 Total assets$22,755 $367 $22,383 $5 Other liabilities (b)$554