M&T BANK CORP
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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Jun 30, 2026 · Filed Aug 4, 2026
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5. Borrowings
- Borrowings
The following table summarizes the Company's short-term and long-term borrowings at June 30, 2026 and December 31, 2025.
| (Dollars in millions) | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Short-term borrowings | ||
| Repurchase agreements | $64 | $49 |
| Advances from FHLB | 4,550 | 2,100 |
| Total short-term borrowings | $4,614 | $2,149 |
| Long-term borrowings | ||
| Senior notes — M&T | $5,497 | $5,583 |
| Senior notes — M&T Bank | 3,142 | 1,946 |
| Advances from FHLB | 3 | 3 |
| Subordinated notes — M&T | 1,245 | 747 |
| Subordinated notes — M&T Bank | 489 | 489 |
| Junior subordinated debentures — M&T (a) | 403 | 403 |
| Asset-backed notes (a) | 2,779 | 1,730 |
| Other | 10 | 10 |
| Total long-term borrowings | $13,568 | $10,911 |
(a) Further information about Junior Subordinated Debentures and asset-backed note financing transactions is provided in note 12.
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.
At June 30, 2026, M&T Bank had borrowing facilities available with the FHLB of New York whereby M&T Bank could borrow up to approximately $20.0 billion, of which $4.6 billion was outstanding at June 30, 2026. Additionally, M&T Bank had an available line of credit with the FRB of New York totaling approximately $26.1 billion at June 30, 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.
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