Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 148

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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edgesDefined Benefit PlansOtherTotal Balance — December 31, 2024$(153)$(101)$98 $(8)$(164)Net gain (loss) during period147 108 (2)1 254 Balance — March 31, 2025$(6)$7 $96 $(7)$90 

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10. Derivative financial instruments

As part of managing interest rate risk, the Company enters into interest rate swap agreements to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate swap agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate swap agreements are generally entered into with counterparties that meet established credit standards and most contain master netting, collateral and/or settlement provisions protecting the at-risk party. Based on adherence to the Company’s credit standards and the presence of the netting, collateral or settlement provisions, the Company believes that the credit risk inherent in these contracts was not material as of March 31, 2025.Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows:NotionalAmountWeighted-AverageMaturity(In years)Weighted-Average Rate EstimatedFair ValueGain (Loss) (a)(Dollars in millions)Fixed Variable March 31, 2025 Fair value hedges: Fixed rate long-term borrowings (b) (d)$5,350 5.63.55 %4.43 %$9 Cash flow hedges:Interest payments on variable rate commercial real estate and commercial    and industrial loans (b) (e)27,469 1.53.54 4.33 3 Total$32,819 2.2$12 December 31, 2024Fair value hedges:Fixed rate long-term borrowings (b) (f)$5,350 5.93.55 %4.71 %$(2)      Fixed rate investment securities available for sale (c)15 0.14.84 4.36 — Cash flow hedges:Interest payments on variable rate commercial real estate loans (b) (g)30,819 1.63.41 4.47 1 Total$36,184 2.2$(1)__________________________________________________________________________________(a