Company: MTB-PJ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000036270-25-000011
Chunk: 38

Company: M&T BANK CORP
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 fair value hedging relationships    Interest rate swap agreements:    Fixed rate long-term borrowings (a)$54 $(55)$(18)$18 Derivatives not designated as hedging instruments    Interest rate contracts (b)$7 $3 Foreign exchange and other option and futures contracts (b)2 4 Total$9 $7 Amount of Gain (Loss) RecognizedSix Months Ended June 30,20252024(Dollars in millions)Derivative Hedged ItemDerivative Hedged ItemDerivatives in fair value hedging relationshipsInterest rate swap agreements:Fixed rate long-term borrowings (a)$147 $(147)$(78)$78 Derivatives not designated as hedging instrumentsInterest rate contracts (b)$12 $6 Foreign exchange and other option and futures contracts (b)6 8 Total$18 $14 __________________________________________________________________________________(a)Reported as an adjustment to Interest expense in the Company's Consolidated Statement of Income.(b)Included in Trading account and other non-hedging derivative gains in the Company's Consolidated Statement of Income.

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11. Derivative financial instruments, continued

Carrying Amount of the Hedged ItemCumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the CarryingAmount of the Hedged Item (Dollars in millions)June 30,2025December 31, 2024June 30,2025December 31, 2024Location in the Consolidated Balance Sheet of the Hedged Items in Fair Value Hedges Long-term borrowings$6,079 $5,184 $(8)$(155)Investment securities available for sale 381 — The net effect of interest rate swap agreements was to decrease net interest income by $44 million and $106 million during the three-month and six-month periods ended June 30, 2025, respectively, and to decrease net interest income by $113 million and $213 million during the three-month and six-month periods ended June 30, 2024, respectively. The amount of interest income recognized in the Company's Consolidated Statement of Income associated with derivatives designated as cash flow hedges was a decrease of $33 million and $99 million for the three months ended June 30, 2025 and 2024, respectively, and a decrease of $86 million and $186 million for the six-month periods ended June 30, 2025 and