Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 47

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 47
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ained earnings19,079 17,524 Accumulated other comprehensive income (loss), net(164)(459)Treasury stock — common, at cost — 13,922,820 shares at December 31, 2024; 13,300,298 shares at December 31, 2023(2,371)(2,230)Total shareholders’ equity29,027 26,957 Total liabilities and shareholders’ equity$208,105 $208,264 

See accompanying notes to financial statements.

116

M&T BANK CORPORATION AND SUBSIDIARIES

Consolidated Statement of Income

Year Ended December 31, (Dollars in millions, except per share)202420232022Interest incomeLoans and leases$8,477 $8,021 $5,237 Investment securities:Fully taxable1,030 773 448 Exempt from federal taxes64 66 51 Deposits at banks1,452 1,360 509 Other3 4 2 Total interest income11,026 10,224 6,247 Interest expenseSavings and interest-checking deposits2,514 1,746 271 Time deposits781 671 24 Short-term borrowings242 292 19 Long-term borrowings637 400 111 Total interest expense4,174 3,109 425 Net interest income6,852 7,115 5,822 Provision for credit losses610 645 517 Net interest income after provision for credit losses6,242 6,470 5,305 Other incomeMortgage banking revenues436 409 357 Service charges on deposit accounts514 475 447 Trust income675 680 741 Brokerage services income121 102 88 Trading account and other non-hedging derivative gains39 49 27 Gain (loss) on bank investment securities10 4 (6)Other revenues from operations632 809 703 Total other income2,427 2,528 2,357 Other expenseSalaries and employee benefits3,162 2,997 2,787 Equipment and net occupancy512 520 474 Outside data processing and software492 437 376 Professional and other services344 413 509 FDIC assessments146 315 90 Advertising and marketing104 108 90 Amortization of core deposit