Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 55

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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-month and nine-month periods ended September 30, 2025 and $25 million for the nine-month period ended September 30, 2024. There were no cash distributions received from BLG for the three-month period ended September 30, 2024.Bayview Financial, a privately-held specialty finance company, is BLG's majority investor. In addition to their common investment in BLG, the Company and Bayview Financial conduct other business activities with each other. The Company has obtained loan servicing rights for mortgage loans from BLG and Bayview Financial having outstanding principal balances of $907 million at September 30, 2025 and $1.0 billion at December 31, 2024. Revenues from those servicing rights were $1 million in each of the three-month periods ended September 30, 2025 and 2024, and $3 million and $4 million in the nine-month periods ended September 30, 2025 and 2024, respectively. The Company sub-services residential mortgage loans for Bayview Financial having outstanding principal balances of $161.8 billion and $111.5 billion at September 30, 2025 and December 31, 2024, respectively. Revenues earned for sub-servicing loans for Bayview Financial were $64 million and $29 million for the three-month periods ended September 30, 2025 and 2024, respectively, and $159 million and $92 million for the nine-month periods ended September 30, 2025 and 2024, respectively. The Company also held $33 million and $37 million of mortgage-backed securities in its held-to-maturity portfolio at September 30, 2025 and December 31, 2024, respectively, that were securitized by Bayview Financial. The Company had various lending commitments to Bayview Financial totaling $1.0 billion at September 30, 2025, with $635 million and $404 million of outstanding balances at September 30, 2025 and December 31, 2024, respectively. Bayview Financial also maintained $4.4 billion and $2.2 billion of deposit balances with the Company at September 30, 2025 and December 31, 2024, respectively, inclusive of deposits related to loan servicing relationships.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

This Management's Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction