Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 185

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 185
---
161.8 billion and $111.5 billion at September 30, 2025 and December 31, 2024, respectively. Revenues earned for sub-servicing loans for Bayview Financial were $64 million and $29 million for the three-month periods ended September 30, 2025 and 2024, respectively, and $159 million and $92 million for the nine-month periods ended September 30, 2025 and 2024, respectively. The Company also held $33 million and $37 million of mortgage-backed securities in its held-to-maturity portfolio at September 30, 2025 and December 31, 2024, respectively, that were securitized by Bayview Financial. The Company had various lending commitments to Bayview Financial totaling $1.0 billion at September 30, 2025, with $635 million and $404 million of outstanding balances at September 30, 2025 and December 31, 2024, respectively. Bayview Financial also maintained $4.4 billion and $2.2 billion of deposit balances with the Company at September 30, 2025 and December 31, 2024, respectively, inclusive of deposits related to loan servicing relationships.

- 43 -

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

This Management's Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the consolidated financial statements and other information included in this Quarterly Report on Form 10-Q as well as with M&T's 2024 Annual Report. Information regarding the Company's business, its supervision and regulation and potential risks and uncertainties that may affect the Company's business, financial condition, liquidity and results of operations are also included in the 2024 Annual Report.

Financial Overview

A summary of financial results for the Company is provided below:

SUMMARY OF FINANCIAL RESULTS

Three Months EndedChangeNine Months EndedChange(Dollars in millions, except per share)September 30,2025June 30,2025Amount%September 30,2025September 30,2024Amount%Net interest income$1,761 $1,713 $48 3 %$5,169 $5,124 $45 1 %Taxable-equivalent adjustment (a)12 9 3 40 33 38 (5)-14 Net interest income (taxable-equivalent basis) (a)1,773