Borrowings (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Amounts and Interest Rates of Short-term Borrowings

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

(Dollars in millions)	Repurchase Agreements			FHLB Advances			Total
At December 31, 2024
Amount outstanding	$	60		$	1,000		$	1,060
Weighted-average interest rate	2.65		%	4.50		%	4.39		%
At December 31, 2023
Amount outstanding	$	316		$	5,000		$	5,316
Weighted-average interest rate	3.26		%	5.35		%	5.23		%

Long-term Borrowings

Long-term borrowings were as follows:

			December 31,
(Dollars in millions)	Maturity (a)	Stated Rate (a)	2024		2023
M&T
Senior notes (fixed rate) (b)	2028 - 2036	4.55% - 7.41%	$	4,710	$	2,482
Subordinated notes (fixed rate)	—	—	—		76
Junior subordinated debentures:
Fixed rate	2030	10.60%	7		55
Variable rate	2027 - 2033	5.70% - 8.20%	426		485
			$	5,143	$	3,098
M&T Bank
Senior notes (fixed rate)	2025 - 2028	2.90% - 5.40%	$	3,745	$	3,741
Advances from FHLB (variable rate)	2025	4.74%	2,000		—
Advances from FHLB (fixed rate)	2025 - 2039	0.00% - 5.98%	4		5
Subordinated notes (fixed rate)	2027	3.40%	474		873
Asset-backed notes (c)	2025 - 2032	4.86% - 5.76%	1,229		474
Other	2027	4.38%	10		10
			7,462		5,103
			$	12,605	$	8,201

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(a)As of December 31, 2024.

(b)Terms generally convert to variable rate in the final year before maturity, at which time the notes are redeemable at par.

(c)Represents weighted-average stated rates determined at the individual securitization level.

Maturity of Long-term Borrowings

Long-term borrowings at December 31, 2024 mature as follows:

(Dollars in millions)
Year ending December 31:
2025	$	3,270
2026	1,299
2027	788
2028	1,680
2029	1,575
Later years	3,993
	$	12,605