M&T BANK CORP
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 19, 2025
MTB$222.73+2.3%Stored close · as of Nov 9, 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 — Years ended
Consolidated Statement of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (Dollars in millions) | 2024 | 2023 | 2022 |
| Cash flows from operating activities | |||
| Net income | $2,588 | $2,741 | $1,992 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 610 | 645 | 517 |
| Depreciation and amortization of premises and equipment | 316 | 304 | 282 |
| Amortization of capitalized servicing rights | 139 | 131 | 97 |
| Amortization of core deposit and other intangible assets | 53 | 62 | 56 |
| Provision for deferred income taxes | (27) | (97) | (30) |
| Asset write-downs | 40 | 4 | 8 |
| Net gain on sales of assets | (30) | (249) | (153) |
| Net change in accrued interest receivable, payable | (176) | 261 | (123) |
| Net change in other accrued income and expense | 282 | 561 | (70) |
| Net change in loans originated for sale | (128) | (192) | 771 |
| Net change in trading account and other non-hedging derivative assets and liabilities | (57) | (266) | 1,227 |
| Net cash provided by operating activities | 3,610 | 3,905 | 4,574 |
| Cash flows from investing activities | |||
| Proceeds from sales of investment securities: | |||
| Available for sale | 167 | — | — |
| Equity and other securities | 610 | 1,014 | 242 |
| Proceeds from maturities of investment securities: | |||
| Available for sale | 6,072 | 743 | 795 |
| Held to maturity | 1,158 | 1,170 | 1,516 |
| Purchases of investment securities: | |||
| Available for sale | (14,476) | (346) | (7,222) |
| Held to maturity | — | (2,948) | (1,890) |
| Equity and other securities | (467) | (1,205) | (456) |
| Net increase in loans and leases | (2,030) | (2,770) | (3,639) |
| Net (increase) decrease in interest-bearing deposits at banks | 9,196 | (3,110) | 26,107 |
| Capital expenditures, net | (216) | (256) | (214) |
| Net (increase) decrease in loan servicing advances | (26) | 274 | 1,579 |
| Acquisition, net of cash consideration: | |||
| Bank and bank holding company | — | — | 394 |
| Other, net | (538) | (440) | (620) |
| Net cash provided (used) by investing activities | (550) | (7,874) | 16,592 |
| Cash flows from financing activities | |||
| Net decrease in deposits | (2,182) | (248) | (20,994) |
| Net increase (decrease) in short-term borrowings | (4,256) | 1,761 | 2,613 |
| Proceeds from long-term borrowings | 5,497 | 5,035 | 999 |
| Payments on long-term borrowings | (1,009) | (824) | (907) |
| Proceeds from issuance of Series J preferred stock | 733 | — | — |
| Redemption of Series E preferred stock | (350) | — | — |
| Purchases of treasury stock | (396) | (594) | (1,800) |
| Dividends paid — common | (895) | (868) | (784) |
| Dividends paid — preferred | (138) | (100) | (97) |
| Other, net | 114 | 18 | (14) |
| Net cash provided (used) by financing activities | (2,882) | 4,180 | (20,984) |
| Net increase in cash, cash equivalents and restricted cash | 178 | 211 | 182 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,731 | 1,520 | 1,338 |
| Cash, cash equivalents and restricted cash at end of period | $1,909 | $1,731 | $1,520 |
| Supplemental disclosure of cash flow information | |||
| Interest received during the period | $11,077 | $10,092 | $6,135 |
| Interest paid during the period | 4,319 | 2,691 | 429 |
| Income taxes paid during the period | 236 | 452 | 488 |
| Supplemental schedule of noncash investing and financing activities | |||
| Real estate acquired in settlement of loans | 33 | 23 | 31 |
| Additions to right-of-use assets under operating leases | 101 | 134 | 138 |
| Acquisition of bank and bank holding company: | |||
| Common stock issued | — | — | 8,286 |
| Common stock awards converted | — | — | 105 |
| Fair value of: | |||
| Assets acquired (noncash) | — | — | 63,757 |
| Liabilities assumed | — | — | 55,499 |
| Preferred stock converted | — | — | 261 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.