Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 213

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 213
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,205 -3 %Mortgage-backed securities (a)11,704 10,136 15 11,704 3,726 214 Other debt securities3 67 -95 3 175 -98 Total available for sale19,702 18,195 8 19,702 12,106 63 Investment securities held to maturity:U.S. Treasury639 1,014 -37 639 1,006 -36 Mortgage-backed securities (a)10,749 10,985 -2 10,749 11,730 -8 State and political subdivisions2,313 2,368 -2 2,313 2,489 -7 Other debt securities1 1 -3 1 1 -13 Total held to maturity13,702 14,368 -5 13,702 15,226 -10 Equity and other securities1,076 1,116 -4 1,076 1,255 -14 Total investment securities$34,480 $33,679 2 %$34,480 $28,587 21 %__________________________________________________________________________________

(a)Primarily government issued or guaranteed.

The investment securities portfolio averaged $34.5 billion in the first quarter of 2025, up $801 million and $5.9 billion from the fourth and first quarters of 2024, respectively. Those increases each reflect the deployment of liquidity into primarily fixed rate investment securities, including purchases of fixed rate agency mortgage-backed securities and U.S. Treasury securities of $1.9 billion and $667 million, respectively, in the recent quarter and $9.3 billion and $5.1 billion, respectively, in 2024 into the Company's available-for-sale investment securities portfolio. As a result of the elevated interest rate environment throughout much of 2024 and the maturities of lower-yielding securities, the weighted-average current yield for total investment securities available for sale increased to 4.42% at March 31, 2025 and 4.30% at December 31, 2024, as compared with 3.45% at March 31, 2024. The weighted-average duration of the available-for-sale investment securities portfolio was 2.5 years and 2.6 years at March 31, 2025 and December 31,