Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 114

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 114
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 quarter of 2024 that reflected realized gains on the sale of equity investments in Fannie Mae and Freddie Mac preferred securities, partially offset by net realized losses on the sale of certain non-agency investment securities.

•Provision for credit losses increased $31 million reflecting the net impact of the allocation of provision for credit losses to reportable segments.

•Noninterest expense increased $117 million reflecting a rise in personnel-related costs of $109 million, including the impact of annual merit increases and seasonally higher stock-based compensation and employee benefits expense in the recent quarter, and increased outside data processing and software costs of $12 million.

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The net loss recorded for the "All Other" category was $244 million in the first quarter of 2024. 

•Net interest income increased $148 million due to the favorable impact from the Company’s allocation methodologies for internal transfers related to funding charges and credits associated with earning assets and interest-bearing liabilities of the Company’s reportable segments and lower net interest expense from interest rate swap agreements entered into for interest rate risk management purposes.

•Noninterest income decreased $20 million reflecting the lack of distributions from M&T's investment in BLG in the recent quarter.

•The $43 million decrease in the provision for credit losses reflects the net impact of the allocation of the provision to the reportable segments. 

•Noninterest expense decreased $34 million reflecting an FDIC special assessment expense of $29 million recorded in the first quarter of 2024. 

Recent Accounting Developments

A discussion of the Company's significant accounting policies and critical accounting estimates can be found in M&T's 2024 Annual Report. A summary of recent accounting developments is included in note 1 of Notes to Financial Statements.

Forward-Looking Statements

"Management’s Discussion and Analysis of Financial Condition and Results of Operations" and other sections of this quarterly report contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the rules and regulations of the SEC. Any statement that does not describe historical or current facts is a forward-looking statement, including statements based on current expectations, estimates and projections about the Company’s business, and management's beliefs and assumptions.

Statements regarding the potential effects of events or factors specific to the Company and/or the financial industry as a whole, as well as national and global events generally, on the Company's business, financial condition, liquidity and results of operations may constitute forward-looking statements. Such statements are subject to the risk that the actual effects may differ, possibly materially,