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v3.26.1

Borrowings | 6 Months Ended
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Jun. 30, 2026
Debt Disclosure [Abstract] |
Borrowings | 5. 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 a five 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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