Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 199

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 199
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 is its principal source of core deposits, which generally carry lower interest rates than wholesale funds of comparable maturities. Average core deposits represented 78% and 79% of average earning assets for the quarters ended September 30, 2025 and June 30, 2025, respectively, and 78% and 77% for the nine months ended September 30, 2025 and 2024, respectively. The Company also includes brokered deposits as a component of its wholesale funding strategy. Depending on market conditions, including demand by customers and other investors, and the cost of funds available from alternative sources, the Company may change the amount or composition of brokered deposits in the future. The following table provides an analysis of changes in the components of average deposits.

AVERAGE DEPOSITS

Three Months EndedNine Months Ended(Dollars in millions)September 30, 2025June 30, 2025Percentage ChangeSeptember 30, 2025September 30, 2024Percentage ChangeNoninterest-bearing deposits             $44,056 $45,153 -2 %$44,877 $47,498 -6 %Savings and interest-checking deposits94,452 94,042 — 93,366 88,026 6 Time deposits of $250,000 or less10,503 10,669 -2 10,554 12,029 -12 Total core deposits149,011 149,864 -1 148,797 147,553 1 Time deposits greater than $250,0003,001 3,053 -2 3,003 3,404 -12 Brokered savings and interest-checking deposits10,208 9,9213 10,041 8,35320 Brokered time deposits486 568-14 609 3,705-84 Total deposits$162,706 $163,406 — %$162,450 $163,015 — %

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Total deposits averaged $162.7 billion in the recent quarter, down $700 million from the second quarter of 2025.

•Average core deposits decreased $853 million reflecting lower noninterest-bearing deposits largely driven by a single commercial customer, partially offset by higher average savings and interest-checking deposits.

•Average brokered deposits increased $205 million reflecting an increase in brokered savings and interest-checking deposits, partially offset by