Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 235

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 2
Chunk 235
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. Treasury444 443 — 508 1,009 -50 Mortgage-backed securities (a)10,247 10,504 -2 10,498 11,490 -9 State and political subdivisions2,190 2,274 -4 2,259 2,448 -8 Other debt securities1 1 -3 1 1 -13 Total held to maturity12,882 13,222 -3 13,266 14,948 -11 Equity and other securities1,039 1,065 -2 1,060 1,222 -13 Total investment securities$36,559 $35,335 3 %$35,466 $29,773 19 %__________________________________________________________________________________

(a)Primarily government issued or guaranteed.

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The investment securities portfolio averaged $36.6 billion in the third quarter of 2025, up $1.2 billion from the second quarter of 2025, and $35.5 billion for the nine months ended September 30, 2025, an increase of $5.7 billion from the similar 2024 period. Those increases reflect the deployment of liquidity into primarily fixed rate mortgage-backed investment securities classified in the Company's available-for-sale investment securities portfolio. As a result of the purchases of higher-yielding securities and the maturities of lower-yielding securities, the weighted-average current yield for total investment securities available for sale increased to 4.65% at September 30, 2025 and 4.50% at June 30, 2025 as compared with 4.08% at September 30, 2024. The weighted-average duration of the available-for-sale investment securities portfolio was 2.5 years at September 30, 2025 as compared with 2.6 years and 2.3 years at June 30, 2025 and September 30, 2024, respectively. The Company routinely adjusts its holdings of capital stock of the FHLB of New York and the FRB of New York based on amounts of outstanding borrowings and available lines of credit with those entities.

The Company regularly reviews its debt investment securities for declines in value below amortized cost that might be indicative of credit-related losses. There were no credit-related losses on debt investment securities recognized in each of the nine months ended September 30, 202