Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 150

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 150
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, increased $19 million in 2024 as compared with 2023 reflecting higher sales of annuities. 

Trading account and other non-hedging derivative gains

The Company enters into interest rate swap agreements and foreign exchange contracts with customers who need such services and concomitantly enters into offsetting trading positions with third parties to minimize the risks involved with these types of transactions. Information about the notional amount of interest rate, foreign exchange and other non-hedging contracts entered into by the Company is included in note 17 of Notes to Financial Statements and herein under the heading "Market Risk and Interest Rate Sensitivity." The decline in income from trading account and other non-hedging derivative gains in 2024 as compared with 2023 reflects lower revenues from interest rate swap transactions with commercial customers.

86

Gain (loss) on bank investment securities

The Company recognized a net gain on investment securities of $10 million in 2024, compared with a net gain of $4 million in 2023. In 2024, the Company divested of certain debt and equity investment securities that were not considered relevant in its current balance sheet management strategies. The net gain in 2024 reflects realized gains on the sale of equity investments in Fannie Mae and Freddie Mac preferred securities, partially offset by net realized losses on the sale of certain non-agency debt investment securities.

Other revenues from operations

The components of other revenues from operations are presented in Table 31.

Table 31

OTHER REVENUES FROM OPERATIONS

Change fromYear Ended December 31,2023 to 20242022 to 2023(Dollars in millions)202420232022Amount%Amount%Letter of credit and other credit-related fees$197 $187 $165 $10 5 %$22 14 %Merchant discount and credit card fees174 172 169 2 1 3 2 Bank owned life insurance revenue (a)65 63 44 2 2 19 45 BLG income (b)48 20 30 28 140 (10)-33 Equipment operating lease income44 56 43 (12)-20 13 29 Insurance income19 18 48 1 9 (30)-63 Gain on divestiture of CIT— 225 — (225)-100 225 100 Gain on divestiture of MTIA— — 136 — —