Company: MTB-PJ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001628280-25-022036
Chunk: 61

Company: M&T BANK CORP
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 61
---
 the year-earlier first quarter reflects a 14 basis-point widening of the net interest margin driven by a decrease of 56 basis points in the cost of interest-bearing liabilities, partially offset by a 22 basis-point decline in the yield received on earning assets. Contributing to the decline in yields received on earning assets and rates paid on interest-bearing liabilities in the recent quarter as compared with the earlier periods was a reduction by the FOMC of its federal funds target interest rate by a total of 1.00% in the last four months of 2024. The Company continues to adjust its funding sources in consideration of the competitive landscape for customer deposits and maintenance of its liquidity profile. The Company's average balance sheets accompanied by the annualized taxable-equivalent interest income and expense and the average rate on the Company's earning assets and interest-bearing liabilities are presented as follows. 

- 43 -

AVERAGE BALANCE SHEETS AND ANNUALIZED TAXABLE-EQUIVALENT RATES

Three Months EndedMarch 31, 2025December 31, 2024March 31, 2024(Dollars in millions)AverageBalanceInterestAverageRateAverageBalanceInterestAverageRateAverageBalanceInterestAverageRateAssetsEarning assets:Loans and leases (a):Commercial and industrial$61,056 $958 6.36 %$60,704 $1,001 6.56 %$56,821 $987 6.99 %Commercial real estate26,259 405 6.16 27,896 446 6.25 32,696 526 6.36 Residential real estate23,176 257 4.44 23,088 256 4.45 23,136 247 4.28 Consumer24,353 394 6.57 24,035 402 6.65 21,143 343 6.54 Total loans and leases134,844 2,014 6.06 135,723 2,105 6.17 133,796 2,103 6.32 Interest-bearing deposits at banks19,695 218 4.48 23,602 285 4.80 30,647 419 5.49 Trading account97 — 3.42 102 — 3.37 105 1 3.42 Investment securities (b):U.S. Treasury