Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 7

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 guidance will have a material impact on its consolidated financial statements.Targeted improvements to the accounting for internal-use softwareThe standard eliminates the concept of a software development project stage such that the guidance is agnostic to different software development methods and introduces a new threshold for cost capitalization. The standard also provides factors to consider when determining whether significant development uncertainty exists. January 1, 2028The Company is evaluating the impact of the standard but does not expect the guidance will have a material impact on its consolidated financial statements.

2. DivestituresIn September 2025 the Company received an earnout payment of $28 million related to the Company's sale of its CIT business in 2023. That distribution has been included in Other revenues from operations in the Company's Consolidated Statement of Income for the three-month and nine-month periods ended September 30, 2025.In May 2025 the Company sold Wilmington Trust SP Services Inc., a subsidiary that specialized in institutional services, to a third party. The transaction resulted in a gain of $10 million that has been included in Other revenues from operations in the Company's Consolidated Statement of Income for the nine-month period ended September 30, 2025. The revenues and expenses of that subsidiary were not material to the Company's consolidated results of operations for the nine-month periods ended September 30, 2025 and 2024.

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3. Investment securities

The amortized cost and estimated fair value of investment securities were as follows:(Dollars in millions)AmortizedCost (a)GrossUnrealizedGainsGrossUnrealizedLossesEstimatedFair ValueSeptember 30, 2025Investment securities available for sale:U.S. Treasury $6,581 $42 $3 $6,620 Mortgage-backed securities:Government issued or guaranteed:Commercial4,789 74 2 4,861 Residential11,628 120 68 11,680 Other 2 — — 2 23,000 236 73 23,163 Investment securities held to maturity:U.S. Treasury444 — 6 438 Mortgage-backed securities:Government issued or guaranteed:Commercial2,020 — 77 1,943 Residential8,048 7 662 7,393 Privately issued33 12 — 45 State and political subdivisions2,165 — 61 2,104 Other