Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Amounts and Interest Rates of Short-term Borrowings

The amounts and interest rates of short-term borrowings were as follows:

	Federal Funds Purchased and Repurchase Agreements			Other Short-term Borrowings			Total
	(Dollars in thousands)
At December 31, 2022
Amount outstanding	$	354,670		$	3,200,281		$	3,554,951
Weighted-average interest rate		1.01	%		4.59	%		4.24	%
For the year ended December 31, 2022
Highest amount at a month-end	$	633,684		$	3,200,283
Daily-average amount outstanding		368,326			567,654		$	935,980
Weighted-average interest rate		0.20	%		3.29	%		2.08	%
At December 31, 2021
Amount outstanding	$	47,046		$	—		$	47,046
Weighted-average interest rate		0.01	%		—			0.01	%
For the year ended December 31, 2021
Highest amount at a month-end	$	103,548		$	—
Daily-average amount outstanding		68,073			—		$	68,073
Weighted-average interest rate		0.01	%		—			0.01	%
At December 31, 2020
Amount outstanding	$	59,482		$	—		$	59,482
Weighted-average interest rate		0.01	%		—			0.01	%
For the year ended December 31, 2020
Highest amount at a month-end	$	82,893		$	—
Daily-average amount outstanding		61,551			—		$	61,551
Weighted-average interest rate		0.05	%		—			0.05	%

Lines of Credit Under Formal Agreements

At December 31, 2022, M&T Bank had lines of credit under formal agreements as follows:

	(In thousands)
Outstanding borrowings	$	3,205,807
Unused		34,250,872

Long-term Borrowings

Long-term borrowings were as follows:

	December 31,
	2022		2021
	(In thousands)
Senior notes of M&T:
Variable rate due 2023	$	249,961	$	249,893
3.55% due 2023		493,960		516,173
4.55% fixed/variable due 2028		477,044		—
Senior notes of M&T Bank:
Variable rate due 2022		—		249,961
2.50% due 2022		—		653,903
5.40% due 2025		499,317		—
2.90% due 2025		749,824		749,740
Advances from FHLB:
Fixed rates		5,183		1,578
Subordinated notes of M&T:
5.75% due 2024		77,337		—
Subordinated notes of M&T Bank:
4.00% due 2024		403,569		—
3.40% due 2027		462,727		522,867
Junior subordinated debentures of M&T associated with    preferred capital securities:
Fixed rates:
BSB Capital Trust I — 8.125%, due 2028		15,798		15,775
Provident Trust I — 8.29%, due 2028		31,267		30,103
Southern Financial Statutory Trust I — 10.60%, due 2030		6,999		6,912
Variable rates:
First Maryland Capital I — due 2027		149,479		148,945
First Maryland Capital II — due 2027		151,932		151,270
Allfirst Asset Trust — due 2029		97,365		97,220
BSB Capital Trust III — due 2033		15,464		15,464
Provident Statutory Trust III — due 2033		59,132		57,547
Southern Financial Capital Trust III — due 2033		8,644		8,448
Other		9,535		9,570
	$	3,964,537	$	3,485,369

Maturity of Long-term Borrowings

Long-term borrowings at December 31, 2022 mature as follows:

	(In thousands)
Year ending December 31:
2023	$	744,127
2024		490,411
2025		1,250,599
2026		628
2027		764,246
Later years		714,526
	$	3,964,537