Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 258

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 258
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 reflecting higher residential mortgage loan sub-servicing revenues from an agreement in the recent quarter to sub-service additional residential mortgage loans totaling $51.7 billion, partially offset by a decrease in service charges on deposit accounts. 

•Provision for credit losses decreased $7 million reflecting lower net charge-offs.

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•Noninterest expense decreased $48 million reflecting lower centrally-allocated costs associated with data processing, risk management, and other support services provided to the Retail Bank segment, personnel-related costs and other costs of operations.

•Average loans increased $322 million reflecting increases in the segment's portfolio of recreational finance loans and automobile loans.

•Lower average deposits in the recent quarter as compared with the fourth quarter of 2024 reflect customer time deposit maturities and lower noninterest-bearing deposits.

Net income for the Retail Bank segment decreased $99 million in the recent quarter from $446 million in the first quarter of 2024.

•Net interest income declined $99 million reflecting a narrowing of the net interest margin on deposits of 38 basis points, partially offset by a widening of the net interest margin on loans of 6 basis points.  Lower average balances of outstanding deposits were partially offset by higher average loan balances.

•Noninterest income increased $11 million reflecting higher residential mortgage loan sub-servicing revenues and an increase in service charges on deposit accounts. 

•The provision for credit losses rose $11 million reflecting higher net charge-offs of indirect consumer loans. 

•Noninterest expense increased $37 million predominantly due to higher centrally-allocated costs associated with data processing, risk management, and other support services provided to the Retail Bank segment of $35 million. 

•Average loans in the recent quarter grew $2.2 billion from 2024's initial quarter, reflecting recreational finance and automobile loan growth.

•Lower average deposits in the recent quarter as compared with the first quarter of 2024 reflect the maturity of customer time deposit accounts and lower noninterest-bearing deposits.

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Institutional Services & Wealth Management

The Institutional Services and Wealth Management segment provides a variety of trustee, agency, investment management and administrative services for corporations and institutions, investment bankers, corporate tax, finance and legal executives, and other institutional clients, as well as personal trust, planning and advisory, fiduciary, asset management, family office, and other services designed to help high net worth individuals and families grow, preserve and transfer wealth. This segment also provides investment products, including mutual funds and annuities and other services to customers. 

IN