M&T BANK CORP
For the period ended Mar 31, 2026. Filed May 5, 2026.
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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.
Mar 31, 2026 · Filed May 5, 2026
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4. Borrowings
- Borrowings
The following table summarizes the Company's short-term and long-term borrowings at March 31, 2026 and December 31, 2025.
| (Dollars in millions) | March 31, 2026 | December 31, 2025 |
|---|---|---|
| Short-term borrowings | ||
| Repurchase agreements | $51 | $49 |
| Advances from FHLB | 7,800 | 2,100 |
| Total short-term borrowings | $7,851 | $2,149 |
| Long-term borrowings | ||
| Senior notes — M&T | $5,550 | $5,583 |
| Senior notes — M&T Bank | 1,946 | 1,946 |
| Advances from FHLB | 3 | 3 |
| Subordinated notes — M&T | 747 | 747 |
| Subordinated notes — M&T Bank | 489 | 489 |
| Junior subordinated debentures — M&T (a) | 403 | 403 |
| Asset-backed notes (a) | 2,027 | 1,730 |
| Other | 10 | 10 |
| Total long-term borrowings | $11,175 | $10,911 |
(a) Further information about Junior Subordinated Debentures and asset-backed note financing transactions is provided in note 11.
At March 31, 2026, M&T Bank had borrowing facilities available with the FHLB of New York whereby M&T Bank could borrow up to approximately $20.7 billion, of which $7.8 billion was outstanding at March 31, 2026. Additionally, M&T Bank had an available line of credit with the FRB of New York totaling approximately $26.5 billion at March 31, 2026. M&T Bank is required to pledge loans and investment securities as collateral for these borrowing facilities and could increase the availability under such facilities by pledging additional assets.
In April 2026, M&T issued $500 million of subordinated notes that mature in April 2036 and pay a fixed rate of 5.295% semi-annually until April 2031 which, unless redeemed by M&T at that time, will reset to the U.S. Treasury rate for afive year maturity plus 1.38% until maturity. In April and May 2026, M&T Bank issued a combined $1.2 billion of senior unsecured notes that mature in April 2030 and pay a 4.548% fixed rate semi-annually until April 2029 after which SOFR plus 0.94% will be paid quarterly until maturity.
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