Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 189

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 8
Chunk 189
---
ivalent Net Interest Income

Interest income earned on certain of the Company's assets is exempt from federal income tax. Taxable-equivalent net interest income is a non-GAAP measure that adjusts income earned on a tax-exempt asset to present it on an equivalent basis to interest income earned on a fully taxable asset. 

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.

AVERAGE BALANCE SHEETS AND ANNUALIZED TAXABLE-EQUIVALENT RATESThree Months EndedSeptember 30, 2025June 30, 2025(Dollars in millions)AverageBalanceInterestAverageRateAverageBalanceInterestAverageRateAssetsEarning assets:Loans (a):Commercial and industrial$61,716 $1,004 6.45 %$61,036 $974 6.40 %Real estate - commercial24,353 395 6.35 25,333 404 6.31 Real estate - residential24,359 279 4.59 23,684 268 4.52 Consumer26,099 435 6.60 25,354 415 6.57 Total loans136,527 2,113 6.14 135,407 2,061 6.11 Interest-bearing deposits at banks17,739 198 4.43 19,698 219 4.47 Trading account95 1 3.48 95 2 3.46 Investment securities (b):U.S. Treasury7,599 78 4.09 8,409 84 3.98 Mortgage-backed securities (c)25,728 271 4.21 23,583 240 4.08 State and political subdivisions (d)2,190 19 3.42 2,274 (2)-.37 Other1,042 12 4.73 1,069 14 5.10 Total investment securities36,559 380 4.13 35,335 336 3.81 Total earning assets190,920 2,692 5.59 190,535 2,618 5.51 Goodwill8,465 8,465 Core deposit and other intangible assets79 89 Other assets