M&T BANK CORP
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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, 2024 · Filed Nov 5, 2024
MTB$217.75-0.9%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
CONSOLIDATED STATEMENT OF CASH FLOWS –
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| (Dollars in millions) | 2024 | 2023 |
| Cash flows from operating activities | ||
| Net income | $1,907 | $2,259 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 470 | 420 |
| Depreciation and amortization of premises and equipment | 235 | 227 |
| Amortization of capitalized servicing rights | 104 | 94 |
| Amortization of core deposit and other intangible assets | 40 | 47 |
| Provision for deferred income taxes | (13) | (40) |
| Asset write-downs | 7 | 3 |
| Net gain on sales of assets | (3) | (244) |
| Net change in accrued interest receivable, payable | (149) | 232 |
| Net change in other accrued income and expense | 166 | 208 |
| Net change in loans originated for sale | (544) | (257) |
| Net change in trading account and other non-hedging derivative assets and liabilities | (286) | 156 |
| Net cash provided by operating activities | 1,934 | 3,105 |
| Cash flows from investing activities | ||
| Proceeds from sales of investment securities: | ||
| Available for sale | 58 | — |
| Equity and other securities | 436 | 809 |
| Proceeds from maturities of investment securities: | ||
| Available for sale | 5,255 | 513 |
| Held to maturity | 844 | 924 |
| Purchases of investment securities: | ||
| Available for sale | (11,156) | (344) |
| Held to maturity | — | (2,948) |
| Equity and other securities | (398) | (1,049) |
| Net increase in loans and leases | (1,740) | (850) |
| Net (increase) decrease in interest-bearing deposits at banks | 3,652 | (5,156) |
| Capital expenditures, net | (131) | (168) |
| Net decrease in loan servicing advances | 186 | 305 |
| Other, net | 151 | (593) |
| Net cash used by investing activities | (2,843) | (8,557) |
| Cash flows from financing activities | ||
| Net increase in deposits | 1,277 | 608 |
| Net increase (decrease) in short-term borrowings | (2,711) | 3,176 |
| Proceeds from long-term borrowings | 4,003 | 4,032 |
| Payments on long-term borrowings | (678) | (781) |
| Proceeds from issuance of Series J preferred stock | 733 | — |
| Redemption of Series E preferred stock | (350) | — |
| Purchases of treasury stock | (198) | (594) |
| Dividends paid — common | (671) | (652) |
| Dividends paid — preferred | (107) | (83) |
| Other, net | 96 | (5) |
| Net cash provided by financing activities | 1,394 | 5,701 |
| Net increase in cash, cash equivalents and restricted cash | 485 | 249 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,731 | 1,520 |
| Cash, cash equivalents and restricted cash at end of period | $2,216 | $1,769 |
| Supplemental disclosure of cash flow information | ||
| Interest received during the period | $8,323 | $7,429 |
| Interest paid during the period | 3,294 | 1,779 |
| Income taxes paid during the period | 240 | 431 |
| Supplemental schedule of noncash investing and financing activities | ||
| Real estate acquired in settlement of loans | 30 | 17 |
| Additions to right-of-use assets under operating leases | 62 | 88 |
- 7 -
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.