Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 35

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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.(b)Included in Other costs of operations in the Company's Consolidated Statement of Income. Accumulated other comprehensive income (loss), net consisted of the following:(Dollars in millions)Investment Securities Cash Flow HedgesDefined Benefit PlansOtherTotal Balance — December 31, 2024$(153)$(101)$98 $(8)$(164)Net gain (loss) during period214 164 (3)4 379 Balance — June 30, 2025$61 $63 $95 $(4)$215 

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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. Based on adherence to the Company’s credit standards and the presence of the netting, collateral or settlement provisions, the Company believes that the credit risk inherent in these contracts was not material as of June 30, 2025.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 June 30, 2025 Fair value hedges: Fixed rate long-term borrowings (b) (d)$6,100 5.33.56%4.46%$13 Cash flow hedges:Interest payments on variable rate commercial real estate and commercial    and industrial loans (b) (e)26,650 1.63.594.3211 Total$32,750 2.3$24 December 31, 2024Fair value hedges:Fixed rate long-term borrowings (b) (f)$5,350 5.93.55%4.71%$(2)      Fixed rate investment securities available for sale (c)15 0.14.844.36— Cash flow hedges:Interest payments on variable rate commercial real estate and commercial