Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 39

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 general, are realized in subsequent periods as the related loans are sold and commitments satisfied.Other derivative financial instruments not designated as hedging instruments included interest rate contracts, foreign exchange and other option and futures contracts. Interest rate contracts not designated as hedging instruments had notional values of $44.8 billion and $40.5 billion at September 30, 2025 and December 31, 2024, respectively. The notional amounts of foreign currency and other option and futures contracts not designated as hedging instruments aggregated $2.0 billion and $1.6 billion at September 30, 2025 and December 31, 2024, respectively.

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11. Derivative financial instruments, continued

Information about the fair values of derivative instruments in the Company’s Consolidated Balance Sheet and Consolidated Statement of Income follows: Asset DerivativesLiability Derivatives Fair ValueFair Value(Dollars in millions)September 30,2025December 31,2024September 30,2025December 31,2024Derivatives designated and qualifying as hedging instruments (a)    Interest rate swap agreements$12 $2 $— $3 Commitments to sell real estate loans1 4 — —  13 6 — 3 Derivatives not designated and qualifying as hedging instruments (a)    Mortgage banking:    Commitments to originate real estate loans for sale20 4 23 32 Commitments to sell real estate loans28 39 6 —  48 43 29 32 Other:    Interest rate contracts (b)174 185 435 769 Foreign exchange and other option and futures contracts18 21 16 18  192 206 451 787 Total derivatives$253 $255 $480 $822 __________________________________________________________________________________(a)Asset derivatives are included in Accrued interest and other assets and liability derivatives are included in Accrued interest and other liabilities in the Company's Consolidated Balance Sheet.(b)The impact of variation margin payments at September 30, 2025 and December 31, 2024 was a reduction of the estimated fair value of interest rate contracts not designated as hedging instruments in an asset position of $379 million and $686 million, respectively, and in a liability position of $33 million and $15 million, respectively.Amount of Gain (Loss) RecognizedThree