Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 117

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 117
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149 Interest-bearing deposits at banks92 55 37 851 (131)982 Trading account(1)(1)— 2 1 1 Investment securities:U.S. Treasury72 2 70 95 74 21 Mortgage-backed securities (c)176 97 79 192 119 73 State and political subdivisions(3)(5)2 24 20 4 Other10 2 8 36 17 19 Total interest income$798 $3,992 Interest expense:Interest-bearing deposits:Savings and interest-checking    deposits$768 $174 $594 $1,475 $16 $1,459 Time deposits110 49 61 647 174 473 Short-term borrowings(50)(71)21 273 213 60 Long-term borrowings237 216 21 289 178 111 Total interest expense$1,065 $2,684 

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(a)The apportionment of changes resulting from the combined effect of both volume and rate was based on the separately determined volume and rate changes.

(b)Interest income data are on a taxable-equivalent basis.

(c)Primarily government issued or guaranteed.

59

Lending activities

The Company's lending activities in 2024 and 2023 reflect its execution of various strategies to reduce its relative concentration of commercial real estate loans. The following table summarizes average loans and leases for 2024 and percentage changes in the major components of the loan and lease portfolio over the past two years.

Table 6

AVERAGE LOANS AND LEASES

Percentage Change From(Dollars in millions)20242023 to 20242022 to 2023Commercial and industrial$58,871 8 %23 %Commercial real estate30,271 -12 — Residential real estate23,056 -2 11 Consumer:Home equity lines and loans4,574 -4 2 Recreational finance11,339 21 10 Automobile4,504 9 -9 Other2,102 1 13 Total consumer22,519 10 4 Total$134,717 1 %11 %

Average loans and leases totaled $134.7 billion in 2024, up 1% from 2023.

•Average commercial and industrial loans and leases