Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 242

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 242
---
 FHLBs, brokered deposits and longer-term borrowings. M&T Bank has access to additional funding sources through secured borrowings from the FHLB of New York and the FRB of New York. M&T Bank is also a counterparty to the FRB of New York standing repurchase agreement facility, which allows it to enter into overnight repurchase transactions using eligible investment securities. At March 31, 2025 and December 31, 2024, long-term borrowings aggregated $10.5 billion and $12.6 billion, respectively, and short-term borrowings aggregated $1.6 billion and $1.1 billion, respectively. Information about the Company's borrowings is included in note 4 of Notes to Financial Statements.

The Company's wholesale funding sources include the placement of brokered deposits. The Company had brokered savings and interest-checking deposit accounts of $10.2 billion at March 31, 2025, compared with $9.8 billion at December 31, 2024. Brokered time deposits declined $392 million to $606 million at March 31, 2025 from $1.0 billion at December 31, 2024, as those products matured. The change in the composition and levels of brokered deposits in the recent quarter reflects a mix shift in the Company's wholesale funding strategy. Approximately 69% of brokered time deposits at March 31, 2025 have a contractual maturity date in the next 12 months.

Total uninsured deposits were estimated to be $76.0 billion at March 31, 2025 and $73.0 billion at December 31, 2024. Approximately $9.6 billion and $9.1 billion of those uninsured deposits were collateralized by the Company at March 31, 2025 and December 31, 2024, respectively. The Company maintains available liquidity sources which represent approximately 134% of uninsured deposits that are not collateralized by the Company at March 31, 2025.

In addition to deposits and borrowings, other sources of liquidity include maturities and repayments of investment securities, loans and other earning assets, as well as cash generated from operations, such as fees collected for services. The Company also has the ability to securitize or sell certain financial assets, including various loan types, to provide other liquidity alternatives. U.S. Treasury and government-issued or guaranteed mortgage-backed