M&T BANK CORP
For the period ended Sep 30, 2025. Filed Oct 27, 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.
Sep 30, 2025 · Filed Oct 27, 2025
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Other Expense
The components of other expense are presented in the accompanying table.
OTHER EXPENSE
| Three Months Ended · Change · Nine Months Ended · Change | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Dollars in millions) | September 30,2025 | June 30,2025 | Amount | % | September 30,2025 | September 30,2024 | Amount | % |
| Salaries and employee benefits | $833 | $813 | $20 | 2% | $2,533 | $2,372 | $161 | 7% |
| Equipment and net occupancy | 129 | 130 | (1) | — | 391 | 379 | 12 | 3 |
| Outside data processing and software | 138 | 138 | — | — | 412 | 367 | 45 | 12 |
| Professional and other services | 81 | 86 | (5) | -7 | 251 | 264 | (13) | -5 |
| FDIC assessments | 13 | 22 | (9) | -41 | 58 | 122 | (64) | -53 |
| Advertising and marketing | 23 | 25 | (2) | -8 | 70 | 74 | (4) | -6 |
| Amortization of core deposit and other intangible assets | 10 | 9 | 1 | — | 32 | 40 | (8) | -20 |
| Other costs of operations | 136 | 113 | 23 | 21 | 367 | 378 | (11) | -3 |
| Total other expense | $1,363 | $1,336 | $27 | 2% | $4,114 | $3,996 | $118 | 3% |
Salaries and employee benefits
Quarterly trends in full-time equivalent employees are presented in the following table.
FULL-TIME EQUIVALENT EMPLOYEES
| Three Months Ended | ||||
|---|---|---|---|---|
| September 30, 2025 | June 30, 2025 | December 31, 2024 | September 30, 2024 | |
| Average full-time equivalent employees | 22,554 | 22,395 | 22,067 | 22,073 |
| Full-time equivalent employees at period end | 22,383 | 22,590 | 22,101 | 21,986 |
Salaries and employee benefits expense increased $20 million in the recent quarter as compared with the second quarter of 2025 reflecting higher severance-related expense.
Salaries and employee benefits expense increased $161 million in the nine months ended September 30, 2025 as compared with the year-earlier period reflecting higher salaries expense from annual merit and other increases, a rise in staffing levels and an increase in incentive compensation. Also contributing to the increase was higher employee benefits expense, reflecting a rise in medical benefits expenses and an increase in severance-related expense.
Nonpersonnel expenses
Nonpersonnel expenses aggregated $530 million in the recent quarter, up from $523 million in the second quarter of 2025 reflecting higher expense associated with the Company's supplemental executive retirement savings plan due to market performance and an impairment of a renewable energy tax credit investment. Those unfavorable factors were partially offset by a decline in FDIC assessment expense reflecting a decrease in the FDIC's loss estimate associated with certain failed banks.
Nonpersonnel expenses decreased $43 million to $1.58 billion in the nine months ended September 30, 2025 as compared with $1.62 billion in the first nine months of 2024 reflecting lower FDIC assessment expense of $64 million, resulting from a reduction of special assessment expense and improved credit quality in the first nine months of 2025, and lower professional and other services expense. Those favorable factors were partially offset by a $45 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.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.