Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 45

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 (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).

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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 $644 million at June 30, 2025 ($166 million and $478 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 $1.0 billion at June 30, 2024 ($248 million and $783 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 June 30, 2025 were decreases of $115 million and $157 million for the three-month and six-month periods ended June 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 June 30, 2024 were decreases of $93 million and $221 million for the three-month and six-month periods ended June 30, 2024, respectively.Assets taken in foreclosure of defaulted loansAssets taken in foreclosure of defaulted loans subject to nonrecurring fair value measurement were not material at each of June 30, 2025, December 31, 2024 and June 30, 2024. Changes in fair value recognized during the three-month and six-month periods ended June 30, 2025 and 2024 for foreclosed assets held by the Company were not material.Capitalized servicing rightsCapitalized servicing rights related to mortgage loans required no valuation allowance at each of June 30, 2025, December 31, 2024 and June 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