Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 158

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 158
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5,605 $4,710 Senior notes — M&T Bank3,745 3,745 Advances from FHLB3 2,004 Subordinated notes — M&T747 — Subordinated notes — M&T Bank487 474 Junior subordinated debentures — M&T (a)402 433 Asset-backed notes (a)1,929 1,229 Other10 10 Total long-term borrowings$12,928 $12,605 __________________________________________________________________________________(a) Further information about Junior Subordinated Debentures and asset-backed note financing transactions is provided in note 12.In July 2025, M&T issued $750 million of subordinated notes that mature in July 2035 and pay a 5.40% fixed rate semi-annually until July 2030 after which, unless redeemed by M&T at that time, the fixed rate will reset to the U.S. Treasury rate for a five year term plus 1.43% until maturity. In June 2025, M&T issued $750 million of senior notes that mature in July 2031 and pay a 5.179% fixed rate semi-annually until July 2030 after which SOFR plus 1.40% will be paid quarterly until maturity. Also in June 2025, M&T Bank issued $750 million of senior notes that mature in July 2028 and pay a 4.762% fixed rate semi-annually until July 2027 after which SOFR plus 0.95% will be paid quarterly until maturity.M&T Bank had secured borrowing facilities available with the FHLB of New York and the FRB of New York totaling approximately $17.8 billion and $25.1 billion, respectively, at September 30, 2025. M&T Bank is required to pledge loans and investment securities as collateral for these borrowing facilities and could increase the availability under such facilities by pledging additional assets.

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6. Shareholders' equity

M&T is authorized to issue 20,000,000 shares of preferred stock with a $1.00 par value per share. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference, but have no general voting rights. Notwithstanding M&T’s option to redeem the shares, if an event occurs such that the shares no longer qualify as Tier 1 capital, M&T may redeem all of the shares within 90 days following that