Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 239

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 239
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 relationship with BLG and its affiliates is included in note 15 of Notes to Financial Statements.

Other revenues from operations declined $34 million in the first quarter of 2025 as compared with the fourth quarter of 2024 reflecting a $23 million distribution from M&T's investment in BLG in the fourth quarter of 2024 and lower loan syndication fees and merchant discount and credit card fees in the recent quarter.

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Other revenues from operations in the first three months of 2025 declined $10 million as compared with the first three months of 2024 reflecting a $25 million distribution from M&T's investment in BLG in the first quarter of 2024, partially offset by higher letter of credit and other credit-related fees in the recent quarter.

Other Expense

The components of other expense are presented in the accompanying table.

OTHER EXPENSE

Three Months EndedChangeThree Months EndedChange(Dollars in millions)March 31,2025December 31,2024Amount%March 31,2025March 31,2024Amount%Salaries and employee benefits$887 $790 $97 12 %$887 $833 $54 7 %Equipment and net occupancy132 133 (1)-1 132 129 3 3 Outside data processing and software136 125 11 10 136 120 16 14 Professional and other services84 80 4 3 84 85 (1)-3 FDIC assessments23 24 (1)-2 23 60 (37)-61 Advertising and marketing22 30 (8)-27 22 20 2 9 Amortization of core deposit and other    intangible assets13 13 — 3 13 15 (2)-12 Other costs of operations118 168 (50)-30 118 134 (16)-12 Total other expense$1,415 $1,363 $52 4 %$1,415 $1,396 $19 1 %

Salaries and employee benefits

The number of full-time equivalent employees was 22,291 at March 31, 2025, compared with 22,101 at December 31, 2024 and 21,927 at March 31, 2024, whereas the average number of full-time equivalent employees was 22,235 in the recent quarter