Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 231

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 231
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12,801 59 Investment securities held to maturity:U.S. Treasury443 639 -31 541 1,007 -46 Mortgage-backed securities (a)10,504 10,749 -2 10,626 11,615 -9 State and political subdivisions2,274 2,313 -2 2,293 2,466 -7 Other debt securities1 1 -3 1 1 -14 Total held to maturity13,222 13,702 -4 13,461 15,089 -11 Equity and other securities1,065 1,076 -1 1,070 1,251 -14 Total investment securities$35,335 $34,480 2 %$34,909 $29,141 20 %__________________________________________________________________________________

(a)Primarily government issued or guaranteed.

The investment securities portfolio averaged $35.3 billion in the second quarter of 2025, up $855 million from the first quarter of 2025. That increase reflects the deployment of liquidity into primarily fixed rate investment securities, including purchases of fixed rate agency mortgage-backed securities and U.S. Treasury securities of $1.2 billion and $638 million, respectively, in the recent quarter, into the Company's available-for-sale investment securities portfolio. In the first six months of 2025 and 2024, investment securities averaged $34.9 billion and $29.1 billion, respectively. The Company purchased fixed rate agency mortgage-backed securities and U.S. Treasury securities of $8.5 billion and $3.1 billion, respectively, since June 30, 2024. As a result of the elevated interest rate environment throughout much of 2024 and the maturities of lower-yielding securities, the weighted-average current yield for total investment securities available for sale increased to 4.50% at June 30, 2025 and 4.42% at March 31, 2025, compared with 3.83% at June 30, 2024.  The weighted-average duration of the available-for-sale investment securities portfolio was 2.6 years at June 30, 2025, compared with 2.5 years and 2.1 years at March 31, 2025 and June 30, 2024, respectively. There were no significant sales of investment securities