Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 148

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 148
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 of servicing fees in 2024 from a $350 million bulk purchase of residential mortgage loan servicing rights associated with $19.5 billion of residential real estate loans on March 31, 2023.

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Table 29

COMMERCIAL MORTGAGE BANKING ACTIVITIES

Change fromYear Ended December 31,2023 to 20242022 to 2023(Dollars in millions)202420232022Amount%Amount%Commercial mortgage banking revenuesGains on loans originated for sale$57 $58 $51 $(1)-1 %$7 14 %Loan servicing fees and other74 69 71 5 8 (2)-3 Total commercial mortgage banking revenues$131 $127 $122 $4 4 %$5 4 %Loans originated for sale to other investors$4,536 $3,053 $3,129 $1,483 49 %$(76)-2 %

(Dollars in millions)December 31, 2024December 31, 2023Balances at period endLoans held for sale$310 $189 Commitments to originate loans for sale479 916 Commitments to sell loans789 1,105 Capitalized mortgage loan servicing assets (a)126 123 Loans serviced for others (b)27,474 24,157 Loans sub-serviced for others4,063 3,873 Total loans serviced for others$31,537 $28,030 

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(a)Additional information about the Company's capitalized commercial mortgage loan servicing assets, including information about the calculation of estimated fair value, is presented in note 6 of Notes to Financial Statements.

(b)Includes $4.2 billion and $3.9 billion of loan balances at December 31, 2024 and 2023, respectively, for which investors had recourse to the Company if such balances are ultimately uncollectable.

Service charges on deposit accounts

The increase in service charges on deposit accounts from $475 million in 2023 to $514 million in 2024 reflects higher commercial service charges that resulted from pricing changes and increased customer usage of sweep products, and a rise in consumer fees. 

Trust income

Trust income primarily includes revenues from two significant businesses managed within the Company's Institutional Services and Wealth Management segment. The Institutional Services business provides a variety of trustee, agency, investment management and administrative