Company: MTB-PJ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0000036270-25-000024
Chunk: 51

Company: M&T BANK CORP
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 related to the FDIC's updated loss estimates associated with certain failed banks. For the nine months ended September 30, 2024, the Company recognized $34 million of FDIC special assessment expense. The FDIC has indicated that the amount of the special assessment may be adjusted in the future as its loss estimates change.Legal proceedings and other mattersM&T and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings and other matters in which claims for monetary damages are asserted. On an on-going basis management, after consultation with legal counsel, assesses the Company’s liabilities and contingencies in connection with such proceedings. For those matters where it is probable that the Company will incur losses and the amounts of the losses can be reasonably estimated, the Company records an expense and corresponding liability in its consolidated financial statements. Although not considered probable, the range of reasonably possible losses for pending or threatened litigation that can be estimated in the aggregate, beyond the existing recorded liability, was between $0 and $25 million at September 30, 2025. For the following matter the Company does not believe an estimate of loss can be made at the date of this filing and, therefore, has not included any amount related thereto in its consolidated financial statements or in the estimated range of reasonably possible losses provided in the preceding paragraph. Wilmington Trust, N.A. On September 10, 2025, Tricolor Holdings, LLC, a subprime auto lender and used vehicle retailer which packaged loans into asset-backed securitizations, filed for Chapter 7 bankruptcy seeking to liquidate its business. Certain financial institutions have reported credit impairments in the third quarter of 2025 related to alleged fraudulent 

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14. Commitments and contingencies, continued

activity with respect to Tricolor Holdings, LLC asset-backed financing arrangements. It has also been reported that the U.S. Department of Justice is investigating the conduct of Tricolor Holdings, LLC, including potential double pledging of collateral. Neither Wilmington Trust, N.A. nor M&T Bank have any loans or loan commitments outstanding to Tricolor Holdings, LLC. Wilmington Trust, N.A. served in certain corporate custodian and trust capacities for multiple Tricolor Holdings, LLC warehouse facilities and asset-backed securitization transactions from 2018 through 2025. Such capacities varied from transaction to transaction and were generally service provider roles performed under the relevant transaction documents. In response to recent events, Wilmington Trust, N.A. is in the process of reviewing the transactions.

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