Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 67

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 compared with $23.7 billion and $30.8 billion during the three months ended December 31, 2024 and March 31, 2024, respectively. The amounts of other earning assets at those respective dates were primarily comprised of deposits held at the FRB of New York. In general, the levels of those deposits often fluctuate due to changes in deposits of retail and commercial customers, trust-related deposits, brokered deposits and additions to or maturities of investment securities or borrowings. 

Funding activities - deposits

The most significant source of funding for the Company is core deposits. The Company considers noninterest-bearing deposits, savings and interest-checking deposits and time deposits of $250,000 or less as core deposits. The Company’s branch network is its principal source of core deposits, which generally carry lower interest rates than wholesale funds of comparable maturities. Average core deposits represented 78% of average earning assets for each of the quarters ended March 31, 2025 and December 31, 2024, compared with 76% for the quarter ended March 31, 2024. The Company also includes brokered deposits as a component of its wholesale funding strategy. Depending on market conditions, including demand by customers and other investors, and the cost of funds available from alternative sources, the Company may change the amount or composition of brokered deposits in the future. The following table provides an analysis of changes in the components of average deposits.

AVERAGE DEPOSITS

Three Months EndedThree Months Ended(Dollars in millions)March 31, 2025December 31, 2024Percentage ChangeMarch 31, 2025March 31, 2024Percentage ChangeNoninterest-bearing deposits             $45,436 $46,554 -2 %$45,436 $48,615 -7 %Savings and interest-checking deposits91,573 92,437 -1 91,573 86,837 5 Time deposits of $250,000 or less10,489 11,101 -6 10,489 11,985 -12 Total core deposits147,498 150,092 -2 147,498 147,437 — Time deposits greater than $250,0002,954 3,117 -5 2,954 3,405 -13 Brokered deposits10,768 11,430 -6 10,768