Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 90

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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 $14 14 %Merchant discount and credit card fees50 39 11 26 89 86 3 4 Bank owned life insurance revenue (a)17 18 (1)-5 35 33 2 6 Equipment operating lease income14 11 3 30 25 20 5 24 BLG income (b)— — — — — 25 (25)-100 Other52 25 27 104 77 47 30 65 Total other revenues from operations$191 $142 $49 33 %$333 $304 $29 9 %__________________________________________________________________________________

(a)Tax-exempt income earned from bank owned life insurance includes increases in the cash surrender value of life insurance policies and benefits received. The Company owns both general account and separate account life insurance policies. To the extent market conditions change such that the market value of assets in a separate account bank owned life insurance policy becomes less than the previously recorded cash surrender value, an adjustment is recorded as a reduction to other revenues from operations.

(b)During 2017, the operating losses of BLG resulted in M&T reducing the carrying value of its investment in BLG to zero. Subsequently, M&T has received cash distributions when declared by BLG that result in the recognition of income by M&T. M&T expects cash distributions from BLG in the future, but the timing and amount of those distributions are not within M&T's control. BLG is entitled to receive distributions from its affiliates that provide asset management and other services that are available for distribution to BLG’s owners, including M&T. Information about the Company’s relationship with BLG and its affiliates is included in note 16 of Notes to Financial Statements.

Other revenues from operations increased $49 million in the second quarter of 2025 as compared with the first quarter of 2025 reflecting gains on the sales of an out-of-footprint residential builder and developer loan portfolio of $15 million and a subsidiary that specialized in institutional services of $10 million, a rise in merchant discount and credit card fees and higher loan syndication fees.

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Higher other revenues from operations in the first half of 2025 as compared with the first six months of 2024 reflected the gains on the sales of an out-of-footprint residential builder and developer loan portfolio and a subsidiary that specialized in institutional services and higher loan syndication fees, partially offset by a distribution from