M&T BANK CORP
For the period ended Jun 30, 2025. Filed Aug 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 4, 2025
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Other Expense
The components of other expense are presented in the accompanying table.
OTHER EXPENSE
| Three Months Ended · Change · Six Months Ended · Change | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Dollars in millions) | June 30,2025 | March 31,2025 | Amount | % | June 30,2025 | June 30,2024 | Amount | % |
| Salaries and employee benefits | $813 | $887 | $(74) | -8% | $1,700 | $1,597 | $103 | 6% |
| Equipment and net occupancy | 130 | 132 | (2) | -2 | 262 | 254 | 8 | 3 |
| Outside data processing and software | 138 | 136 | 2 | 1 | 274 | 244 | 30 | 12 |
| Professional and other services | 86 | 84 | 2 | 4 | 170 | 176 | (6) | -3 |
| FDIC assessments | 22 | 23 | (1) | -7 | 45 | 97 | (52) | -53 |
| Advertising and marketing | 25 | 22 | 3 | 14 | 47 | 47 | — | -1 |
| Amortization of core deposit and other intangible assets | 9 | 13 | (4) | -27 | 22 | 28 | (6) | -18 |
| Other costs of operations | 113 | 118 | (5) | -5 | 231 | 250 | (19) | -8 |
| Total other expense | $1,336 | $1,415 | $(79) | -6% | $2,751 | $2,693 | $58 | 2% |
Salaries and employee benefits
FULL-TIME EQUIVALENT EMPLOYEES
| Three Months Ended | ||||
|---|---|---|---|---|
| June 30, 2025 | March 31, 2025 | December 31, 2024 | June 30, 2024 | |
| Average full-time equivalent employees | 22,395 | 22,235 | 22,067 | 21,952 |
| Full-time equivalent employees at period end | 22,590 | 22,291 | 22,101 | 22,110 |
Salaries and employee benefits expense decreased $74 million in the recent quarter as compared with the first quarter of 2025 reflecting seasonally higher stock-based compensation, payroll-related taxes and other employee benefits expense in the first quarter of 2025, partially offset by the full-quarter impact of annual merit increases awarded in the first quarter of 2025, an additional working day in the recent quarter and higher staffing levels.
Salaries and employee benefits expense increased $103 million in the six months ended June 30, 2025 as compared with the year-earlier period reflecting higher salaries expense from annual merit and other increases, higher staffing levels and a rise in incentive compensation, including stock-based compensation expense. Also contributing to the increase was higher employee benefits expense, reflecting higher staffing levels and a rise in medical benefits expense.
Nonpersonnel expenses
Nonpersonnel expenses aggregated $523 million in the recent quarter, down from $528 million in the first quarter of 2025.
Nonpersonnel expenses decreased $45 million to $1.05 billion in the six months ended June 30, 2025 as compared with $1.10 billion in the first half of 2024 reflecting lower FDIC assessments of $52 million, resulting from $34 million of FDIC special assessment expense recognized in the first half of 2024 and improved loan credit quality, and lower other costs of operations of $19 million, reflecting the favorable impact of market performance on the Company's supplemental executive retirement savings plan expense. Those favorable factors were partially offset by a $30 million increase in outside data processing and software costs reflecting costs associated with enhancements to the Company's technology infrastructure, cybersecurity and financial recordkeeping and reporting systems.
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