Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 40

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 40
---
 at March 31, 2025 and December 31, 2024, respectively.(b)Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate.(c)Under the terms of these agreements, the Company receives settlement amounts at a variable rate and pays at a fixed rate. (d)Includes notional amount and terms of $2.5 billion of forward-starting interest rate swap agreements that become effective in 2025 and 2026.(e)Includes notional amount and terms of $8.5 billion of forward-starting interest rate swap agreements that become effective in 2025 and 2026.(f)Includes notional amount and terms of $3.4 billion of forward-starting interest rate swap agreements that become effective in 2025 and 2026. (g)Includes notional amount and terms of $10.0 billion of forward-starting interest rate swap agreements that become effective in 2025 and 2026.The Company utilizes commitments to sell residential and commercial real estate loans to hedge the exposure to changes in fair value of real estate loans held for sale. Such commitments have generally been designated as fair value hedges. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in the fair value of certain commitments to originate real estate loans for sale. Changes in unrealized gains and losses as a result of such activities were not material for the three months ended March 31, 2025 and 2024. Such changes are included in Mortgage banking revenues in the Company's Consolidated Statement of Income and, in general, are realized in subsequent periods as the related loans are sold and commitments satisfied.Other derivative financial instruments not designated as hedging instruments included interest rate contracts, foreign exchange and other option and futures contracts. Interest rate contracts not designated as hedging instruments had notional values of $40.8 billion and $40.5 billion at March 31, 2025 and December 31, 2024, respectively. The notional amounts of foreign currency and other option and futures contracts not designated as hedging instruments aggregated $1.5 billion and $1.6 billion at March 31, 2025 and December 31, 2024, respectively.

- 29 -

10. Derivative financial instruments, continued

Information about the fair values of derivative instruments in the Company’s Consolidated Balance Sheet and Consolidated Statement of Income follows: Asset DerivativesLiability Derivatives