Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 37

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 costs of operations in the Company's Consolidated Statement of Income.(c)Included in Gain (loss) on bank investment securities in the Company's Consolidated Statement of Income. Accumulated other comprehensive income (loss), net during the nine-month periods ended September 30, 2025 and 2024 consisted of the following:(Dollars in millions)Investment Securities Cash Flow HedgesDefined Benefit PlansOtherTotal Balance — January 1, 2025$(153)$(101)$98 $(8)$(164)Net gain (loss) during period274 169 (5)3 441 Balance — September 30, 2025$121 $68 $93 $(5)$277 Balance — January 1, 2024$(187)$(151)$(115)$(6)$(459)Net gain (loss) during period238 196 (4)2 432 Balance — September 30, 2024$51 $45 $(119)$(4)$(27)

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11. Derivative financial instruments

As part of managing interest rate risk, the Company enters into interest rate swap agreements to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate swap agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate swap agreements are generally entered into with counterparties that meet established credit standards and most contain master netting, collateral and/or settlement provisions protecting the at-risk party. Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by the type of financial instrument the swap agreements were intended to hedge follows:NotionalAmountWeighted-AverageMaturity(In years)Weighted-Average Rate EstimatedFair ValueGain (Loss) (a)(Dollars in millions)Fixed Variable September 30, 2025 Fair value hedges: Fixed rate long-term borrowings (b) (d)$6,100 5.13.56%4.26%$4 Cash flow hedges:Interest payments on variable rate commercial real estate and commercial    and industrial loans (b) (e)25,000 1.53.654.288 Total$31,100 2.2$12 December 31, 2024Fair value hedges:Fixed rate long-term borrowings (b) (f)$5,350