Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 216

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 216
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 reflected a shift in customer funds from noninterest-bearing accounts to interest-bearing products. Lower average balances of core time deposits in the recent quarter reflected comparatively lower rates paid on those products.

•The $2.5 billion decrease in average brokered deposits as compared with the first quarter of 2024 reflects the maturity of brokered time deposits in the recent year, partially offset by higher average balances of brokered savings and interest-checking deposits. The Company's brokered savings and interest-bearing transaction accounts and brokered time deposits averaged $8.0 billion and $5.2 billion, respectively, in the year-earlier quarter.

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The accompanying table summarizes the components of average total deposits by reportable segment for the three months ended March 31, 2025, December 31, 2024 and March 31, 2024.

AVERAGE DEPOSITS BY REPORTABLE SEGMENT

(Dollars in millions)Commercial BankRetail BankInstitutional Services and Wealth ManagementAll OtherTotalThree Months Ended March 31, 2025Noninterest-bearing deposits             $11,304 $24,220 $9,370 $542 $45,436 Savings and interest-checking deposits33,808 51,685 9,157 6,914 101,564 Time deposits365 13,035 40 780 14,220 Total$45,477 $88,940 $18,567 $8,236 $161,220 Three Months Ended December 31, 2024Noninterest-bearing deposits             $11,970 $24,590 $9,390 $604 $46,554 Savings and interest-checking deposits34,419 51,856 8,972 6,880 102,127 Time deposits364 13,805 45 1,744 15,958 Total$46,753 $90,251 $18,407 $9,228 $164,639 Three Months Ended March 31, 2024Noninterest-bearing deposits             $13,459 $25,380 $9,081 $695 $48,615 Savings and interest-checking deposits29,721 51,274 7,131 6,741 94,867 Time deposits353 14,995 37 5,198 20,583 Total$43,533 $91