M&T BANK CORP
For the period ended Sep 30, 2025. Filed Oct 27, 2025.
View on SEC.govAbout this filing
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.
Sep 30, 2025 · Filed Oct 27, 2025
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10. Comprehensive income
- Comprehensive income
The following table displays the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income during the three-month periods ended September 30, 2025 and 2024:
| (Dollars in millions) | InvestmentSecurities | Cash Flow Hedges | Defined Benefit Plans | Other | TotalAmountBefore Tax | IncomeTax | Net |
|---|---|---|---|---|---|---|---|
| Balance — July 1, 2025 | $82 | $85 | $127 | $(5) | $289 | $(74) | $215 |
| Other comprehensive income (loss) before reclassifications: | |||||||
| Unrealized holding gains, net | 81 | — | — | — | 81 | (21) | 60 |
| Unrealized losses, net | — | (16) | — | — | (16) | 3 | (13) |
| Other | — | — | — | (1) | (1) | — | (1) |
| Total other comprehensive income (loss) before reclassifications | 81 | (16) | — | (1) | 64 | (18) | 46 |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | |||||||
| Net yield adjustment from cash flow hedges currently in effect | — | 22 | — | — | 22(a) | (4) | 18 |
| Amortization of prior service credit and actuarial gains | — | — | (2) | — | (2)(b) | — | (2) |
| Total other comprehensive income (loss) | 81 | 6 | (2) | (1) | 84 | (22) | 62 |
| Balance — September 30, 2025 | $163 | $91 | $125 | $(6) | $373 | $(96) | $277 |
| Balance — July 1, 2024 | $(239) | $(330) | $(158) | $(9) | $(736) | $185 | $(551) |
| Other comprehensive income (loss) before reclassifications: | |||||||
| Unrealized holding gains, net | 308 | — | — | — | 308 | (78) | 230 |
| Unrealized gains, net | — | 287 | — | — | 287 | (71) | 216 |
| Other | — | — | — | 5 | 5 | (1) | 4 |
| Total other comprehensive income (loss) before reclassifications | 308 | 287 | — | 5 | 600 | (150) | 450 |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | |||||||
| Net yield adjustment from cash flow hedges currently in effect | — | 102 | — | — | 102(a) | (27) | 75 |
| Amortization of prior service credit and actuarial gains | — | — | (2) | — | (2)(b) | 1 | (1) |
| Total other comprehensive income (loss) | 308 | 389 | (2) | 5 | 700 | (176) | 524 |
| Balance — September 30, 2024 | $69 | $59 | $(160) | $(4) | $(36) | $9 | $(27) |
(a)Included in Interest income in the Company's Consolidated Statement of Income.
(b)Included in Other costs of operations in the Company's Consolidated Statement of Income.
Accumulated other comprehensive income (loss), net during the three-month periods ended September 30, 2025 and 2024 consisted of the following:
| (Dollars in millions) | Investment Securities | Cash Flow Hedges | Defined Benefit Plans | Other | Total |
|---|---|---|---|---|---|
| Balance — July 1, 2025 | $61 | $63 | $95 | $(4) | $215 |
| Net gain (loss) during period | 60 | 5 | (2) | (1) | 62 |
| Balance — September 30, 2025 | $121 | $68 | $93 | $(5) | $277 |
| Balance — July 1, 2024 | $(179) | $(246) | $(118) | $(8) | $(551) |
| Net gain (loss) during period | 230 | 291 | (1) | 4 | 524 |
| Balance — September 30, 2024 | $51 | $45 | $(119) | $(4) | $(27) |
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- Comprehensive income, continued
The following table displays the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income during the nine-month periods ended September 30, 2025 and 2024:
| (Dollars in millions) | InvestmentSecurities | Cash Flow Hedges | Defined Benefit Plans | Other | TotalAmountBefore Tax | IncomeTax | Net |
|---|---|---|---|---|---|---|---|
| Balance — January 1, 2025 | $(205) | $(135) | $131 | $(10) | $(219) | $55 | $(164) |
| Other comprehensive income (loss) before reclassifications: | |||||||
| Unrealized holding gains, net | 368 | — | — | — | 368 | (94) | 274 |
| Unrealized gains, net | — | 118 | — | — | 118 | (31) | 87 |
| Other | — | — | — | 4 | 4 | (1) | 3 |
| Total other comprehensive income (loss) before reclassifications | 368 | 118 | — | 4 | 490 | (126) | 364 |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | |||||||
| Net yield adjustment from cash flow hedges currently in effect | — | 108 | — | — | 108(a) | (26) | 82 |
| Amortization of prior service credit and actuarial gains | — | — | (6) | — | (6)(b) | 1 | (5) |
| Total other comprehensive income (loss) | 368 | 226 | (6) | 4 | 592 | (151) | 441 |
| Balance — September 30, 2025 | $163 | $91 | $125 | $(6) | $373 | $(96) | $277 |
| Balance — January 1, 2024 | $(251) | $(203) | $(155) | $(7) | $(616) | $157 | $(459) |
| Other comprehensive income (loss) before reclassifications: | |||||||
| Unrealized holding gains, net | 307 | — | — | — | 307 | (78) | 229 |
| Unrealized losses, net | — | (26) | — | — | (26) | 7 | (19) |
| Other | — | — | — | 3 | 3 | (1) | 2 |
| Total other comprehensive income (loss) before reclassifications | 307 | (26) | — | 3 | 284 | (72) | 212 |
| Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income: | |||||||
| Net losses realized in net income | 13 | — | — | — | 13(c) | (4) | 9 |
| Net yield adjustment from cash flow hedges currently in effect | — | 288 | — | — | 288(a) | (73) | 215 |
| Amortization of prior service credit and actuarial gains | — | — | (5) | — | (5)(b) | 1 | (4) |
| Total other comprehensive income (loss) | 320 | 262 | (5) | 3 | 580 | (148) | 432 |
| Balance — September 30, 2024 | $69 | $59 | $(160) | $(4) | $(36) | $9 | $(27) |
(a)Included in Interest income in the Company's Consolidated Statement of Income.
(b)Included in Other costs of operations in the Company's Consolidated Statement of Income.
(c)Included in Gain (loss) on bank investment securities in the Company's Consolidated Statement of Income.
Accumulated other comprehensive income (loss), net during the nine-month periods ended September 30, 2025 and 2024 consisted of the following:
| (Dollars in millions) | Investment Securities | Cash Flow Hedges | Defined Benefit Plans | Other | Total |
|---|---|---|---|---|---|
| Balance — January 1, 2025 | $(153) | $(101) | $98 | $(8) | $(164) |
| Net gain (loss) during period | 274 | 169 | (5) | 3 | 441 |
| Balance — September 30, 2025 | $121 | $68 | $93 | $(5) | $277 |
| Balance — January 1, 2024 | $(187) | $(151) | $(115) | $(6) | $(459) |
| Net gain (loss) during period | 238 | 196 | (4) | 2 | 432 |
| Balance — September 30, 2024 | $51 | $45 | $(119) | $(4) | $(27) |
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