Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 68

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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13,223 -19 Total deposits$161,220 $164,639 -2 %$161,220 $164,065 -2 %

Total deposits averaged $161.2 billion in the recent quarter, compared with $164.6 billion in the fourth quarter of 2024.

•Average core deposits decreased $2.6 billion from the fourth quarter of 2024 reflecting a seasonal decline in commercial customer deposits and the maturity of non-brokered core time deposits.

•The decrease in average brokered deposits in the recent quarter reflects the Company's wholesale funding strategy. Average brokered time deposits decreased 55% to $777 million in the recent quarter from $1.7 billion in the fourth quarter of 2024 as those time deposits matured. Average brokered savings and interest-checking accounts increased 3% to $10.0 billion in the recent quarter from $9.7 billion in the fourth quarter of 2024.

Total average deposits decreased $2.8 billion from $164.1 billion in the year-earlier quarter. 

•Average core deposits were largely unchanged compared with the year-earlier quarter and 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 deposits