Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 256

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 256
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interest income increased $22 million due to higher commercial mortgage banking revenues of $10 million. Also contributing to that increase was a $5 million rise in each of service charges on commercial deposit accounts and credit related fees.

•The provision for credit losses decreased $41 million reflecting lower net charge-offs of commercial and industrial loans.

•Noninterest expense rose $6 million reflecting higher salaries and employee benefits expense. 

•Average loans and leases decreased $1.7 billion from the first quarter of 2024 reflecting a reduction in average commercial real estate loans, partially offset by higher commercial and industrial loans reflecting growth spanning most industry types.

•Average deposits grew $1.9 billion from the year-earlier quarter and reflected a shift in customer funds from noninterest-bearing accounts to interest-bearing products.

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Retail Bank

The Retail Bank segment provides a wide range of services to consumers and small businesses through the Company’s branch network and several other delivery channels such as telephone banking, internet banking and ATMs. The Company has domestic banking offices primarily in the Northeastern and Mid-Atlantic regions of the U.S. including the District of Columbia. The segment offers to its customers deposit products, including demand, savings and time accounts, and other services. Credit services offered by this segment include automobile and recreational finance loans (primarily originated indirectly through dealers), home equity loans and lines of credit, credit cards and other loan products. This segment also originates and services residential mortgage loans and either sells those loans in the secondary market to investors or retains them for investment purposes. Residential mortgage loans are also originated and serviced on behalf of the Institutional Services and Wealth Management segment. The Company periodically purchases the rights to service residential real estate loans that have been originated by other entities and also sub-services residential real estate loans for others. Residential real estate loans held for sale are included in this segment. This segment also provides various business loans, including loans guaranteed by the Small Business Administration, business credit cards, deposit products and services such as cash management, payroll and direct deposit, merchant credit card and letters of credits to small businesses and professionals through the Company's branch network and other delivery channels.

RETAIL BANK SEGMENT FINANCIAL SUMMARY

Three Months EndedChangeThree Months EndedChange(Dollars in millions)March 31, 2025December 31, 2024Amount%March 31, 2025March 31, 2024Amount%Income StatementNet interest income$972 $1,040 $(68)-7 %$972 $1