Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 199

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 199
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TRUST INCOME AND ASSETS UNDER MANAGEMENT

Three Months EndedChangeThree Months EndedChange(Dollars in millions)March 31,2025December 31,2024Amount%March 31,2025March 31,2024Amount%Trust incomeInstitutional Services$94 $93 $1 2 %$94 $81 $13 16 %Wealth Management82 82 — — 82 78 4 5 Commercial1 — 1 — 1 1 — 1 Total trust income$177 $175 $2 1 %$177 $160 $17 11 %

(Dollars in millions)March 31,2025December 31,2024March 31,2024Assets under management at period endTrust assets under management (excluding proprietary funds)$64,554 $65,798 $65,191 Proprietary mutual funds15,938 14,461 15,280 Total assets under management$80,492 $80,259 $80,471 

Trust income was $177 million in the recent quarter, up modestly from the fourth quarter of 2024 and $17 million higher than the first quarter of 2024. 

•Institutional Services trust income increased $13 million in the recent quarter as compared with the similar 2024 period reflecting higher sales and fund management fees from its global capital markets business.

•The higher level of trust income from the Wealth Management business in the first quarter of 2025 as compared with the first quarter of 2024 reflected improved market performance associated with managed assets.

Gain (loss) on bank investment securities

The net gain on bank investment securities of $18 million in the fourth quarter of 2024 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.

Other revenues from operations

The components of other revenues from operations are presented in the accompanying table.

OTHER REVENUES FROM OPERATIONS

Three Months EndedChangeThree Months EndedChange(Dollars in millions)March 31,2025December 31,2024Amount%March 31,2025March 31,2024Amount%Letter of credit and other credit-related fees$49 $54 $(5)-10 %$49 $44 $5