Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 179

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 179
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 1,236 334 367 (234)(642)1,696 1,519 Income tax expense (benefit)166 152 246 318 85 95 (101)(232)396 333 Net income (loss)$462 $406 $722 $918 $249 $272 $(133)$(410)$1,300 $1,186 Average total assets$78,927 $81,140 $55,193 $52,591 $4,187 $3,652 $70,989 $74,346 $209,296 $211,729 __________________________________________________________________________________(a)Net interest income is the difference between actual taxable-equivalent interest earned on assets and interest paid on liabilities by a segment and a funding charge (credit) based on the Company's internal funds transfer and pricing methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $9 million and $13 million for the three-month periods ended June 30, 2025 and 2024, respectively, and $21 million and $25 million for the six-month periods ended June 30, 2025 and 2024, respectively, and is eliminated in "All Other" total revenues.(b)Indirect expense represents centrally-allocated costs associated with data processing, risk management and other support services provided by the "All Other" category to the Commercial Bank, Retail Bank and Institutional Services and Wealth Management segments. (c)Intersegment revenues and expenses were not material for the three-month and six-month periods ended June 30, 2025 and 2024.

16. Relationship with BLG and Bayview FinancialM&T holds a 20% minority interest in BLG, a privately-held commercial mortgage company. That investment had no remaining carrying value at June 30, 2025 as a result of cumulative losses recognized and cash distributions received in prior years. Cash distributions now received from BLG are recognized as income by M&T and included in Other revenues from operations in the Company's Consolidated Statement of Income. That income totaled $25 million for the six-month period ended June 30, 2024. No distributions were received from BLG for the three-month and six-month periods ended June 30, 2025 or the three-month period ended June 30,