Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 47

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 47
---
 estimate of expirations for commitments to originate real estate loans would generally result in a lower (higher) fair value measurement. Estimated commitment expirations are derived considering loan type, changes in interest rates and remaining length of time until closing.(b)Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), interest rate and foreign exchange contracts not designated as hedging instruments (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 2 and Level 3).

- 38 -

13. Fair value measurements, continued

The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The more significant of those assets follow.LoansLoans subject to nonrecurring fair value measurement were $577 million at September 30, 2025 ($283 million and $294 million of which were classified as Level 2 and Level 3, respectively), $847 million at December 31, 2024 ($187 million and $660 million of which were classified as Level 2 and Level 3, respectively) and $805 million at September 30, 2024 ($159 million and $646 million of which were classified as Level 2 and Level 3, respectively). Changes in fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on September 30, 2025 were decreases of $67 million and $154 million for the three-month and nine-month periods ended September 30, 2025, respectively. Changes in fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on September 30, 2024 were decreases of $81 million and $204 million for the three-month and nine-month periods ended September 30, 2024, respectively.Capitalized servicing rightsCapitalized servicing rights related to mortgage loans required no valuation allowance at each of September 30, 2025, December 31, 2024 and September 30, 2024.Disclosures of fair value of financial instrumentsThe carrying amounts and estimated fair value for certain financial instruments that are not recorded at fair value in the Company's Consolidated Balance Sheet are presented in the following table:(Dollars in millions)CarryingAmount EstimatedFair Value Level 1Level 2 Level 3 September 30, 2025