Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 110

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 110
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225 311 1 23,536 20,387 3,149 15 Total loans and leases$52,194 $51,872 $322 1 %$52,194 $50,008 $2,186 4 %Deposits:Noninterest-bearing$24,220 $24,590 $(370)-2 %$24,220 $25,380 $(1,160)-5 %Interest-bearing64,720 65,661 (941)-1 64,720 66,269 (1,549)-2 Total deposits$88,940 $90,251 $(1,311)-1 %$88,940 $91,649 $(2,709)-3 %

The Retail Bank segment’s net income was $347 million in the first quarter of 2025, compared with $352 million in the fourth quarter of 2024.

•Net interest income decreased $68 million reflecting a 17 basis-point narrowing of the net interest margin on deposits and lower outstanding average balances of those deposits.

•Noninterest income increased $4 million reflecting higher residential mortgage loan sub-servicing revenues from an agreement in the recent quarter to sub-service additional residential mortgage loans totaling $51.7 billion, partially offset by a decrease in service charges on deposit accounts. 

•Provision for credit losses decreased $7 million reflecting lower net charge-offs.

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•Noninterest expense decreased $48 million reflecting lower centrally-allocated costs associated with data processing, risk management, and other support services provided to the Retail Bank segment, personnel-related costs and other costs of operations.

•Average loans increased $322 million reflecting increases in the segment's portfolio of recreational finance loans and automobile loans.

•Lower average deposits in the recent quarter as compared with the fourth quarter of 2024 reflect customer time deposit maturities and lower noninterest-bearing deposits.

Net income for the Retail Bank segment decreased $99 million in the recent quarter from $446 million in the first quarter of 2024.

•Net interest income declined $99 million reflecting a narrowing of the net interest margin on deposits of 38 basis points, partially offset by a widening of the net interest margin on loans of 6 basis points.  Lower average balances of outstanding deposits were partially offset by higher average loan balances.

•Noninterest income increased $11 million reflecting higher residential mortgage loan sub-servicing revenues and an increase in service charges on deposit