Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 124

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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Notes to Financial Statements1. Significant accounting policies

The consolidated interim financial statements of the Company were compiled in accordance with GAAP using the accounting policies set forth in note 1 of Notes to Financial Statements included in M&T's 2024 Annual Report. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented. Standards applicable to M&T but not yet adopted at March 31, 2025 primarily address enhanced disclosure requirements for income taxes and the disaggregated income statement presentation of certain expenses and are not expected to have a material impact to the Company's consolidated financial statements.

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2. Investment securities

The amortized cost and estimated fair value of investment securities were as follows:(Dollars in millions)AmortizedCost (a)GrossUnrealizedGainsGrossUnrealizedLossesEstimatedFair ValueMarch 31, 2025Investment securities available for sale:U.S. Treasury $8,065 $31 $11 $8,085 Mortgage-backed securities:Government issued or guaranteed:Commercial4,316 35 11 4,340 Residential8,422 47 99 8,370 Other 4 — — 4 20,807 113 121 20,799 Investment securities held to maturity:U.S. Treasury442 — 10 432 Mortgage-backed securities:Government issued or guaranteed:Commercial2,035 — 114 1,921 Residential8,547 — 800 7,747 Privately issued36 8 — 44 State and political subdivisions2,291 — 128 2,163 Other 1 — — 1  13,352 8 1,052 12,308 Total debt securities$34,159 $121 $1,173 $33,107 Equity and other securities:Readily marketable equity — at fair value$280 $2 $2 $280 Other — at cost706 — — 706 Total equity and other securities$986 $2 $2 $986  December 31, 2024Investment securities available for sale:U.S. Treasury $7,945 $13 $27 $7,931 M