Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 170

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 170
---
Nine Months Ended September 30,20252024(Dollars in millions)Derivative Hedged ItemDerivative Hedged ItemDerivatives in fair value hedging relationshipsInterest rate swap agreements:Fixed rate long-term borrowings (a)$160 $(160)$52 $(52)Fixed rate investment securities available for sale (b)— — Total$160 $(160)$52 $(52)Derivatives not designated as hedging instrumentsInterest rate contracts (c)$23 $11 Foreign exchange and other option and futures contracts (c)11 13 Total$34 $24 __________________________________________________________________________________(a)Reported as an adjustment to Interest expense in the Company's Consolidated Statement of Income.(b)Reported as an adjustment to Interest income in the Company's Consolidated Statement of Income.(c)Included in Trading account and other non-hedging derivative gains in the Company's Consolidated Statement of Income.Carrying Amount of the Hedged ItemCumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the CarryingAmount of the Hedged Item (Dollars in millions)September 30,2025December 31, 2024September 30,2025December 31, 2024Location in the Consolidated Balance Sheet of the Hedged Items in Fair Value Hedges Long-term borrowings$6,092 $5,184 $5 $(155)Investment securities available for sale 381 — The net effect of interest rate swap agreements was to decrease net interest income by $33 million and $139 million during the three-month and nine-month periods ended September 30, 2025, respectively, and to decrease net interest income by $115 million and $328 million during the three-month and nine-month periods ended September 30, 2024, respectively. The amount of interest income recognized in the Company's Consolidated Statement of Income associated with derivatives designated as cash flow hedges was a decrease of $22 million and $102 million for the three months ended September 30, 2025 and 2024, respectively, and a decrease of $108 million and $288 million for the nine-month periods ended September 30, 2025 and 2024, respectively. As of September 30, 2025, the unrealized gain recognized in other comprehensive income related to cash flow hedges was $91 million, of which gains of $6 million, $56 million and $29 million relate to interest