Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 36

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 discount and credit card interchange fees16 21 — 37 Other9 7 2 18 $72 $116 $209 $397 Three Months Ended March 31, 2024Classification in Consolidated Statement of IncomeService charges on deposit accounts$40 $84 $— $124 Trust income1 — 159 160 Brokerage services income2 — 27 29 Other revenues from operations:Merchant discount and credit card interchange fees17 20 — 37 Other8 7 2 17 $68 $111 $188 $367 

7. Pension plans and other postretirement benefits

The Company provides defined pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic benefit for defined benefit plans consisted of the following:Pension Benefits Other Postretirement Benefits Three Months Ended March 31,(Dollars in millions)2025202420252024Service cost$2 $2 $— $— Interest cost on projected benefit obligation27 29 1 1 Expected return on plan assets(46)(51)— — Amortization of net actuarial gain(1)— (1)(1)Net periodic benefit$(18)$(20)$— $— 

Service cost is reflected in Salaries and employee benefits and the other components of net periodic benefit cost are reflected in Other costs of operations in the Consolidated Statement of Income. Expenses incurred in connection with the Company's defined contribution pension and retirement savings plans totaled $50 million and $45 million for the three months ended March 31, 2025 and 2024, respectively.

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8. Earnings per common share

The computations of basic earnings per common share follow:Three Months Ended March 31,(Dollars in millions, except per share, shares in thousands)20252024Income available to common shareholders:Net income$584 $531 Less: Preferred stock dividends(36)(25)Net income available to common equity548 506 Less: Income attributable to unvested stock-based compensation awards(1)(1)Net income available to common shareholders$547 $505 Weighted-average shares outstanding:Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards164,520 166,738 Less: Unvested stock-based compensation awards(311)(278)