Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 215

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 215
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 its wholesale funding strategy. Depending on market conditions, including demand by customers and other investors, and the cost of funds available from alternative sources, the Company may change the amount or composition of brokered deposits in the future. The following table provides an analysis of changes in the components of average deposits.

AVERAGE DEPOSITS

Three Months EndedThree Months Ended(Dollars in millions)March 31, 2025December 31, 2024Percentage ChangeMarch 31, 2025March 31, 2024Percentage ChangeNoninterest-bearing deposits             $45,436 $46,554 -2 %$45,436 $48,615 -7 %Savings and interest-checking deposits91,573 92,437 -1 91,573 86,837 5 Time deposits of $250,000 or less10,489 11,101 -6 10,489 11,985 -12 Total core deposits147,498 150,092 -2 147,498 147,437 — Time deposits greater than $250,0002,954 3,117 -5 2,954 3,405 -13 Brokered deposits10,768 11,430 -6 10,768 13,223 -19 Total deposits$161,220 $164,639 -2 %$161,220 $164,065 -2 %

Total deposits averaged $161.2 billion in the recent quarter, compared with $164.6 billion in the fourth quarter of 2024.

•Average core deposits decreased $2.6 billion from the fourth quarter of 2024 reflecting a seasonal decline in commercial customer deposits and the maturity of non-brokered core time deposits.

•The decrease in average brokered deposits in the recent quarter reflects the Company's wholesale funding strategy. Average brokered time deposits decreased 55% to $777 million in the recent quarter from $1.7 billion in the fourth quarter of 2024 as those time deposits matured. Average brokered savings and interest-checking accounts increased 3% to $10.0 billion in the recent quarter from $9.7 billion in the fourth quarter of 2024.

Total average deposits decreased $2.8 billion from $164.1 billion in the year-earlier quarter. 

•Average core deposits were largely unchanged compared with the year-earlier quarter and