0000950170-23-022068 | 10-Q/A | XBRL Viewer

Revenue from contracts with customers (Tables)

3 Months Ended

Mar. 31, 2023

ASU 2014-09 [Member]

Summary of Sources of Noninterest Income that are Subject to Revenue Recognition Accounting Guidance

The following tables summarize sources of the Company’s noninterest income during the three-month periods ended March 31, 2023 and 2022 that are subject to the revenue recognition accounting guidance.


	Business Banking		Commercial Banking		Commercial Real Estate		Discretionary Portfolio		Residential Mortgage Banking		Retail Banking		All Other		Total
Three Months Ended March 31, 2023	(In thousands)

Classification in consolidated statement of income

Service charges on deposit accounts	$	19,470		28,473		4,186		—		—		59,452		1,965	$	113,546
Trust income		10		—		—		—		—		—		193,792		193,802
Brokerage services income		—		—		—		—		—		—		24,041		24,041
Other revenues from operations:
Merchant discount and credit card fees		14,258		15,791		1,087		—		—		5,361		305		36,802
Other		—		4,671		1,186		21		340		7,406		1,030		14,654
	$	33,738		48,935		6,459		21		340		72,219		221,133	$	382,845

Three Months Ended March 31, 2022

Classification in consolidated statement of income

Service charges on deposit accounts	$	14,681		25,571		3,478		—		—		56,347		1,430	$	101,507
Trust income		—		—		—		—		—		—		169,213		169,213
Brokerage services income		—		—		—		—		—		—		20,190		20,190
Other revenues from operations:
Merchant discount and credit card fees		12,805		13,459		874		—		—		4,510		107		31,755
Other		—		1,903		2,464		693		1,729		5,099		12,891		24,779
	$	27,486		40,933		6,816		693		1,729		65,956		203,831	$	347,444

Earnings Per Common Share - Computations of Basic Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income available to common shareholders:
Net income	$ 701,624	$ 362,174
Less: Preferred stock dividends	(24,941)	(21,765)
Net income available to common equity	676,683	340,409
Less: Income attributable to unvested stock-based compensation awards	(1,175)	(820)
Net income available to common shareholders	$ 675,508	$ 339,589
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards	168,010	129,274
Less: Unvested stock-based compensation awards	(278)	(329)
Weighted-average shares outstanding	167,732	128,945
Basic earnings per common share	$ 4.03	$ 2.63

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Partners Capital [Abstract]
Net income	$ 701,624	$ 362,174
Other comprehensive income (loss), net of tax and reclassification adjustments:
Net unrealized gains (losses) on investment securities	65,140	(136,367)
Cash flow hedges adjustments	80,933	(114,061)
Foreign currency translation adjustments	1,194	(1,648)
Defined benefit plans liability adjustments	(2,242)	2,269
Total other comprehensive income (loss)	145,025	(249,807)
Total comprehensive income	$ 846,649	$ 112,367

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Investment Securities - Additional Information (Detail)	3 Months Ended
Investment Securities - Additional Information (Detail)	Mar. 31, 2023 USD ($) Security	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Investment Holdings [Line Items]
Gross realized gains(loss) on sale of investment securities	$ 0	$ 0
Number of debt securities with aggregate gross unrealized losses \| Security	4,132
Unrealized losses on individual debt securities	$ (1,400,000,000)
Cost method equity securities	907,000,000
Investment securities pledged to secure debt carrying value	9,000,000,000.0		$ 7,900,000,000
Carrying value of investment securities pledged related to repurchase transactions	1,200,000,000		567,000,000
Available-for-Sale Securities [Member]
Investment Holdings [Line Items]
Allowance for credit losses	$ 0		$ 0

Segment information

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment information

14. Segment information

Reportable segments have been determined based upon the Company's internal profitability reporting system, which is organized by strategic business unit. Certain strategic business units have been combined for segment information reporting purposes where the nature of the products and services, the type of customer and the distribution of those products and services are similar. The reportable segments are Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.

The financial information of the Company's segments was compiled utilizing the accounting policies described in note 23 of Notes to Financial Statements in the 2022 Annual Report. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, the financial information of the reported segments is not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data. As described in the 2022 Annual Report, in the fourth quarter of 2022 the Company revised its segment reporting related to: allocations of certain incentive compensation; a refinement of consumption-driven services allocations including cybersecurity and modeling functions; an expanded allocation of franchise-type services such as risk management, data services and legal services; and a refinement in allocation of technology application costs in support of business activities. Additionally certain lending relationships within the hospitality sector that had previously received oversight within the Commercial Banking segment were realigned to the Commercial Real Estate segment. As a result, financial information for the three months ended March 31, 2022 has been reclassified to provide segment information on a comparable basis, as noted in the accompanying table.

14. Segment information, continued


	Three Months Ended March 31, 2022
	Total Revenues as Previously Reported		Impact of Changes			Total Revenues as Reclassified		Net Income (Loss) as Previously Reported			Impact of Changes			Net Income (Loss) as Reclassified
	(In thousands)

Business Banking	$	141,346		—		$	141,346	$	41,111			(1,579	)	$	39,532
Commercial Banking		289,372		(10,437	)		278,935		144,608			(16,148	)		128,460
Commercial Real Estate		202,087		10,437			212,524		97,610			13,636			111,246
Discretionary Portfolio		64,727		—			64,727		35,385			(700	)		34,685
Residential Mortgage Banking		137,444		—			137,444		28,964			(1,850	)		27,114
Retail Banking		355,148		—			355,148		84,164			(5,082	)		79,082
All Other		254,937		—			254,937		(69,668	)		11,723			(57,945	)
Total	$	1,445,061		—		$	1,445,061	$	362,174			—		$	362,174

Information about the Company's segments follows:


	Three Months Ended March 31
	2023									2022
	Total Revenues(a)			Inter- segment Revenues			Net Income (Loss)			Total Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)

Business Banking	$	273,551		$	877		$	113,251		$	141,346	$	671		$	39,532
Commercial Banking		507,020			10,226			219,979			278,935		863			128,460
Commercial Real Estate		225,719			289			80,809			212,524		179			111,246
Discretionary Portfolio		(33,396	)		(15,205	)		(40,397	)		64,727		(27,805	)		34,685
Residential Mortgage Banking		77,654			20,472			(12,354	)		137,444		37,464			27,114
Retail Banking		831,842			(39	)		316,594			355,148		(3	)		79,082
All Other		523,007			(16,620	)		23,742			254,937		(11,369	)		(57,945	)
Total	$	2,405,397		$	—		$	701,624		$	1,445,061	$	—		$	362,174


	Average Total Assets
	Three Months Ended March 31				Year Ended December 31
	2023		2022		2022
	(In millions)

Business Banking	$	7,825	$	6,568	$	7,597
Commercial Banking (b)		48,222		26,329		40,930
Commercial Real Estate (b)		32,171		23,939		30,599
Discretionary Portfolio		50,501		22,899		42,657
Residential Mortgage Banking		2,605		6,250		3,986
Retail Banking		21,421		18,610		20,312
All Other		39,854		47,053		44,171
Total	$	202,599	$	151,648	$	190,252

(a)

Total revenues are comprised of net interest income and other income. Net interest income is the difference between taxable-equivalent interest earned on assets and interest paid on liabilities owed by a segment and a funding charge (credit) based on the Company's internal funds transfer and allocation methodology. Segments are charged a cost to fund any assets (e.g. loans) and are paid a funding credit for any funds provided (e.g. deposits). The taxable-equivalent adjustment aggregated $13,462,000 and $3,234,000 for the three-month periods ended March 31, 2023 and 2022, respectively, and is eliminated in "All Other" total revenues. Intersegment revenues are included in total revenues of the reportable segments. The elimination of intersegment revenues is included in the determination of "All Other" total revenues.

(b)

Average total assets reclassified from the Commercial Banking segment to the Commercial Real Estate segment relating to lending relationships in the hospitality sector totaled $1.29 billion for the three months ended March 31, 2022.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Variable Interest Entities and Asset Securitizations - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Loss on securitization of assets	$ 0
Other assets for its "investment" in the common securities recognized by the company of various trusts	22,000,000		$ 22,000,000
Total assets of partnerships in which the company invested	202,956,407,000		200,729,841,000
Investment in partnership carrying amount	1,500,000,000		1,500,000,000
Unfunded commitments includes carrrying amount of its investments	547,000,000		545,000,000
Maximum exposure to loss of investments in real estate partnerships	2,000,000,000.0
Investments amortized to income tax expense	40,000,000	$ 20,000,000
Federal tax credits and other federal tax benefits recognized	46,000,000	$ 23,000,000
Variable Interest Entity Primary Beneficiary [Member]
Total assets of partnerships in which the company invested	$ 9,200,000,000		$ 9,200,000,000

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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+ Details

- Definition

A gain (loss) realized on a transfer, accounted for as a sale, of all or a portion of financial assets in which the transferor surrenders control and receives consideration other than a beneficial interest in the assets transferred. Reflects the amount of sales proceeds in excess of, or deficient from, the sum of the carrying amounts of transferred financial assets plus transaction costs.

+ References + Details

Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P.

3 Months Ended

Mar. 31, 2023

Text Block [Abstract]

Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P.

15. Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P.

M&T holds a 20% minority interest in Bayview Lending Group LLC ("BLG"), a privately-held commercial mortgage company. That investment had no remaining carrying value at March 31, 2023 as a result of cumulative losses recognized and cash distributions received in prior years. Cash distributions now received from BLG are recognized as income by M&T and included in other revenues from operations. That income totaled $20 million and $30 million for the three-month periods ended March 31, 2023 and 2022, respectively.

Bayview Financial Holdings, L.P. (together with its affiliates, "Bayview Financial"), a privately-held specialty finance company, is BLG's majority investor. In addition to their common investment in BLG, the Company and Bayview Financial conduct other business activities with each other. The Company has obtained loan servicing rights for mortgage loans from BLG and Bayview Financial having outstanding principal balances of $1.4 billion at each of March 31, 2023 and December 31, 2022. Revenues from those servicing rights were $2 million in each of the three-month periods ended March 31, 2023 and 2022. The Company sub-services residential mortgage loans for Bayview Financial having outstanding principal balances of $98.0 billion and $96.0 billion at March 31, 2023 and December 31, 2022, respectively. Revenues earned for sub-servicing loans for Bayview Financial were $32 million and $42 million for the three-month periods ended March 31, 2023 and 2022, respectively. In addition, the Company held $48 million and $50 million of mortgage-backed securities in its held-to-maturity portfolio at March 31, 2023 and December 31, 2022, respectively, that were securitized by Bayview Financial. At March 31, 2023, the Company held $523 million of Bayview Financial's $2.5 billion syndicated loan facility.

Earnings per common share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Computations of Basic Earnings Per Common Share

The computations of basic earnings per common share follow:


	Three Months Ended March 31
	2023			2022
	(In thousands, except per share)

Income available to common shareholders:
Net income	$	701,624		$	362,174
Less: Preferred stock dividends		(24,941	)		(21,765	)
Net income available to common equity		676,683			340,409
Less: Income attributable to unvested stock-based compensation awards		(1,175	)		(820	)
Net income available to common shareholders	$	675,508		$	339,589
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		168,010			129,274
Less: Unvested stock-based compensation awards		(278	)		(329	)
Weighted-average shares outstanding		167,732			128,945

Basic earnings per common share	$	4.03		$	2.63

Computations of Diluted Earnings Per Common Share

The computations of diluted earnings per common share follow:


	Three Months Ended March 31
	2023			2022
	(In thousands, except per share)

Net income available to common equity	$	676,683		$	340,409
Less: Income attributable to unvested stock-based compensation awards		(1,172	)		(819	)
Net income available to common shareholders	$	675,511		$	339,590
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		168,010			129,274
Less: Unvested stock-based compensation awards		(278	)		(329	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock		678			471
Adjusted weighted-average shares outstanding		168,410			129,416

Diluted earnings per common share	$	4.01		$	2.62

Pension Plans and Other Postretirement Benefits - Net Periodic Defined Benefit Cost for Defined Benefit Plans (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,723	$ 4,271
Interest cost on projected benefit obligation	28,835	16,267
Expected return on plan assets	(50,400)	(37,150)
Amortization of prior service cost (credit)	50	125
Amortization of net actuarial loss (gain)	(900)	4,625
Net periodic cost (benefit)	$ (19,692)	$ (11,862)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 390	$ 232
Interest cost on projected benefit obligation	744	355
Amortization of prior service cost (credit)	(525)	(1,075)
Amortization of net actuarial loss (gain)	(650)	(325)
Net periodic cost (benefit)	$ (41)	$ 813
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense

Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Offsetting [Abstract]
Reduction in estimated fair value of interest rate contracts in asset position	$ 861.5	$ 1,100.0
Reduction in estimated fair value of interest rate contracts in liability position	$ 19.6	$ 29.2

Fair Value Measurements - Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Interest-bearing deposits at banks	$ 22,306,425	$ 24,958,719
Federal funds sold		3,000
Investment securities	28,443,209	25,210,871
Loans and leases:
Loans and leases	133,531,052	132,074,156
Allowance for credit losses	(1,975,110)	(1,925,331)	$ (1,472,359)	$ (1,469,226)
Loans and leases, net	130,962,582	129,638,832
Financial liabilities:
Noninterest-bearing deposits	(59,955,033)	(65,501,860)
Savings and interest-checking deposits	(86,282,685)	(87,911,463)
Time deposits	(12,837,522)	(10,101,545)
Long-term borrowings	(7,462,890)	(3,964,537)
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets:
Cash and cash equivalents	1,742,645	1,371,688
Trading account	113,646	117,847
Investment securities	289,788	145,289
Significant Observable Inputs (Level 2) [Member]
Financial assets:
Cash and cash equivalents	75,095	145,556
Interest-bearing deposits at banks	22,306,425	24,958,719
Federal funds sold		3,000
Trading account	51,570
Investment securities	27,105,863	23,860,445
Loans and leases:
Loans and leases, net	7,491,276	7,180,192
Accrued interest receivable	693,011	646,250
Financial liabilities:
Noninterest-bearing deposits	(59,955,033)	(65,501,860)
Savings and interest-checking deposits	(86,282,685)	(87,911,463)
Time deposits	(12,808,615)	(10,143,110)
Short-term borrowings	(6,995,302)	(3,554,951)
Long-term borrowings		(3,926,489)
Accrued interest payable	(182,906)	(81,356)
Other financial instruments:
Commitments to sell real estate loans	38,844	54,424
Interest rate swap agreements used for interest rate risk management	11,250	(7,892)
Interest rate and foreign exchange contracts not designated as hedging instruments	(722,949)	(920,316)
Significant Unobservable Inputs (Level 3) [Member]
Financial assets:
Investment securities	50,448	50,588
Loans and leases:
Consumer loans	19,514,964	20,093,523
Loans and leases, net	119,891,638	119,048,176
Financial liabilities:
Long-term borrowings	(7,070,243)
Other financial instruments:
Commitments to originate real estate loans for sale	(28,141)	(45,573)
Other credit-related commitments	(152,513)	(148,772)
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	1,817,740	1,517,244
Interest-bearing deposits at banks	22,306,425	24,958,719
Federal funds sold		3,000
Trading account	165,216	117,847
Investment securities	28,443,209	25,210,871
Loans and leases:
Consumer loans	20,316,845	20,593,079
Allowance for credit losses	(1,975,110)	(1,925,331)
Loans and leases, net	130,962,582	129,638,832
Accrued interest receivable	693,011	646,250
Financial liabilities:
Noninterest-bearing deposits	(59,955,033)	(65,501,860)
Savings and interest-checking deposits	(86,282,685)	(87,911,463)
Time deposits	(12,837,522)	(10,101,545)
Short-term borrowings	(6,995,302)	(3,554,951)
Long-term borrowings	(7,462,890)	(3,964,537)
Accrued interest payable	(182,906)	(81,356)
Other financial instruments:
Commitments to originate real estate loans for sale	(28,141)	(45,573)
Commitments to sell real estate loans	38,844	54,424
Other credit-related commitments	(152,513)	(148,772)
Interest rate swap agreements used for interest rate risk management	11,250	(7,892)
Interest rate and foreign exchange contracts not designated as hedging instruments	(722,949)	(920,316)
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	1,817,740	1,517,244
Interest-bearing deposits at banks	22,306,425	24,958,719
Federal funds sold		3,000
Trading account	165,216	117,847
Investment securities	27,446,099	24,056,322
Loans and leases:
Consumer loans	19,514,964	20,093,523
Loans and leases, net	127,382,914	126,228,368
Accrued interest receivable	693,011	646,250
Financial liabilities:
Noninterest-bearing deposits	(59,955,033)	(65,501,860)
Savings and interest-checking deposits	(86,282,685)	(87,911,463)
Time deposits	(12,808,615)	(10,143,110)
Short-term borrowings	(6,995,302)	(3,554,951)
Long-term borrowings	(7,070,243)	(3,926,489)
Accrued interest payable	(182,906)	(81,356)
Other financial instruments:
Commitments to originate real estate loans for sale	(28,141)	(45,573)
Commitments to sell real estate loans	38,844	54,424
Other credit-related commitments	(152,513)	(148,772)
Interest rate swap agreements used for interest rate risk management	11,250	(7,892)
Interest rate and foreign exchange contracts not designated as hedging instruments	(722,949)	(920,316)
Commercial Loans and Leases [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Loans and leases:
Loans and leases	42,992,625	41,139,985
Commercial Loans and Leases [Member] \| Carrying Amount [Member]
Loans and leases:
Loans and leases	43,758,361	41,850,566
Commercial Loans and Leases [Member] \| Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Loans and leases:
Loans and leases	42,992,625	41,139,985
Commercial [Member] \| Significant Observable Inputs (Level 2) [Member]
Loans and leases:
Loans and leases	321,473,000	130,652
Commercial [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Loans and leases:
Loans and leases	42,549,341	43,083,994
Commercial [Member] \| Carrying Amount [Member]
Loans and leases:
Loans and leases		45,364,571
Consumer loans	45,072,541
Commercial [Member] \| Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Loans and leases:
Loans and leases	42,870,814	43,214,646
Residential Real Estate Loans \| Significant Observable Inputs (Level 2) [Member]
Loans and leases:
Loans and leases	7,169,803	7,049,540
Residential Real Estate Loans \| Significant Unobservable Inputs (Level 3) [Member]
Loans and leases:
Loans and leases	14,834,708	14,730,674
Residential Real Estate Loans \| Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	23,789,945
Loans and leases:
Loans and leases		23,755,947
Residential Real Estate Loans \| Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Loans and leases:
Loans and leases	$ 22,004,511	$ 21,780,214

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Derivative [Line Items]
Notional amounts of derivative contracts entered into for trading account purposes	$ 15,200,000,000		$ 17,400,000,000
Unrealized net loss recognized in other comprehensive income related to cash flow hedges	227,000,000
Net unrealized pre-tax gains related to hedged loans held for sale, commitments to originate loans for sale and commitments to sell loans	15,000,000		8,000,000
Aggregate fair value of derivative financial instruments in a liability position	2,000,000		1,000,000
Post collateral requirements relating to positions	1,000,000		0
Aggregate fair value of derivative financial instruments in asset position	253,000,000		314,000,000
Collateral relating to net asset positions	253,000,000		312,000,000
Clearinghouse Credit Facilities [Member]
Derivative [Line Items]
Amount of initial margin posted	202,000,000		205,000,000
Interest Income [Member]
Derivative [Line Items]
Changes in Cash Flow Hedges Derivative Instruments At Fair Value Net	(59,000,000)	$ 38,000,000
Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Increase decrease in net interest income due to interest rate swap agreements	$ (69,000,000)	$ 47,000,000
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest And Dividend Income Operating	Interest And Dividend Income Operating
Interest Rate Swap Agreements [Member] \| Maturity Period 2024 [Member]
Derivative [Line Items]
Unrealized net loss recognized in other comprehensive income related to cash flow hedges	$ 3,000,000
Interest Rate Swap Agreements [Member] \| Maturity Period 2025 [Member]
Derivative [Line Items]
Unrealized net loss recognized in other comprehensive income related to cash flow hedges	230,000,000
Interest Rate Swap Agreements [Member] \| Maturity Period 2026 [Member]
Derivative [Line Items]
Unrealized net loss recognized in other comprehensive income related to cash flow hedges	6,000,000
Interest Rate Contracts [Member]
Derivative [Line Items]
Notional amounts of derivative contracts entered into for trading account purposes	44,100,000,000		45,100,000,000
Foreign Exchange and Other Option and Futures Contracts [Member]
Derivative [Line Items]
Notional amounts of derivative contracts entered into for trading account purposes	$ 1,600,000,000		$ 1,700,000,000

Commitments and contingencies (Tables)

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities Outstanding

The following table presents the Company's significant commitments. Certain of these commitments are not included in the Company's consolidated balance sheet.


	March 31,		December 31,
	2023		2022
	(In thousands)
Commitments to extend credit
Home equity lines of credit	$	8,299,310	$	8,261,560
Commercial real estate loans to be sold		587,996		348,701
Other commercial real estate		6,217,720		5,776,116
Residential real estate loans to be sold		198,610		31,208
Other residential real estate		427,954		505,121
Commercial and other		32,964,637		32,625,840
Standby letters of credit		2,433,702		2,376,644
Commercial letters of credit		35,038		65,066
Financial guarantees and indemnification contracts		3,936,632		4,022,432
Commitments to sell real estate loans		1,193,328		533,458

Fair value measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis

The following tables present assets and liabilities at March 31, 2023 and December 31, 2022 measured at estimated fair value on a recurring basis:


	Fair Value Measurements		Level 1		Level 2		Level 3
	(In thousands)
March 31, 2023
Trading account	$	165,216	$	113,646	$	51,570	$	—
Investment securities available for sale:
U.S. Treasury and federal agencies		7,732,699		—		7,732,699		—
Mortgage-backed securities:
Government issued or guaranteed
Commercial		648,194		—		648,194		—
Residential		2,493,705		—		2,493,705		—
Other debt securities		164,324		—		164,324		—
		11,038,922		—		11,038,922		—
Equity securities		295,220		289,788		5,432		—
Real estate loans held for sale		473,478		—		473,478		—
Other assets (a)		362,945		—		356,078		6,867
Total assets	$	12,335,781	$	403,434	$	11,925,480	$	6,867
Other liabilities (a)		1,063,941		—		1,028,933		35,008
Total liabilities	$	1,063,941	$	—	$	1,028,933	$	35,008

December 31, 2022
Trading account	$	117,847	$	117,847	$	—	$	—
Investment securities available for sale:
U.S. Treasury and federal agencies		7,670,960		—		7,670,960		—
Mortgage-backed securities:
Government issued or guaranteed
Commercial		574,299		—		574,299		—
Residential		2,330,118		—		2,330,118		—
Other debt securities		173,584		—		173,584		—
		10,748,961		—		10,748,961		—
Equity securities		151,458		145,289		6,169		—
Real estate loans held for sale		162,393		—		162,393		—
Other assets (a)		435,969		—		435,517		452
Total assets	$	11,616,628	$	263,136	$	11,353,040	$	452
Other liabilities (a)		1,355,326		—		1,309,301		46,025
Total liabilities	$	1,355,326	$	—	$	1,309,301	$	46,025

(a)

Comprised predominantly of interest rate swap agreements used for interest rate risk management (Level 2), interest rate and foreign exchange contracts not designated as hedging instruments (Level 2), commitments to sell real estate loans (Level 2) and commitments to originate real estate loans to be held for sale (Level 3).

Changes in Level 3 Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis

The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the three months ended March 31, 2023 and 2022 were as follows:


	Other Assets and Other Liabilities
2023	(In thousands)

Balance — January 1, 2023	$	(45,573	)
Total losses realized/unrealized:
Included in earnings		17,351		(a)
Transfers out of Level 3		81		(b)
Balance — March 31, 2023	$	(28,141	)
Changes in unrealized losses included in earnings related to instruments still held at March 31, 2023	$	17,386		(a)

2022

Balance — January 1, 2022	$	6,440
Total gains realized/unrealized:
Included in earnings		(18,700	)	(a)
Transfers out of Level 3		(3,168	)	(b)
Balance — March 31, 2022	$	(15,428	)
Changes in unrealized gains included in earnings related to instruments still held at March 31, 2022	$	(13,219	)	(a)

(a)

Reported as mortgage banking revenues in the consolidated statement of income and includes the fair value of commitment issuances and expirations.

(b)

Transfers out of Level 3 consist of interest rate locks transferred to closed loans.

12. Fair value measurements, continued

Quantitative Information Related to Significant Unobservable Inputs

The following table presents quantitative information about significant unobservable inputs used in the fair value measurements for certain Level 3 assets and liabilities at March 31, 2023 and December 31, 2022:


	Fair Value			Valuation Technique	Unobservable Inputs / Assumptions	Range (Weighted- Average)
	(In thousands)
March 31, 2023
Recurring fair value measurements
Net other assets (liabilities) (a)	$	(28,141	)	Discounted cash flow	Commitment expirations	0% - 95% (7%)

December 31, 2022
Recurring fair value measurements
Net other assets (liabilities) (a)	$	(45,573	)	Discounted cash flow	Commitment expirations	0% - 97% (3%)

(a)

Other Level 3 assets (liabilities) consist of commitments to originate real estate loans.

Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities)

The carrying amounts and estimated fair value for financial instrument assets (liabilities) are presented in the following tables:


	March 31, 2023
	Carrying Amount			Estimated Fair Value			Level 1		Level 2			Level 3
	(In thousands)
Financial assets:
Cash and cash equivalents	$	1,817,740			1,817,740			1,742,645		75,095			—
Interest-bearing deposits at banks		22,306,425			22,306,425			—		22,306,425			—
Trading account		165,216			165,216			113,646		51,570			—
Investment securities		28,443,209			27,446,099			289,788		27,105,863			50,448
Loans and leases:
Commercial loans and leases		43,758,361			42,992,625			—		—			42,992,625
Commercial real estate loans		45,072,541			42,870,814			—		321,473			42,549,341
Residential real estate loans		23,789,945			22,004,511			—		7,169,803			14,834,708
Consumer loans		20,316,845			19,514,964			—		—			19,514,964
Allowance for credit losses		(1,975,110	)		—			—		—			—
Loans and leases, net		130,962,582			127,382,914			—		7,491,276			119,891,638
Accrued interest receivable		693,011			693,011			—		693,011			—
Financial liabilities:
Noninterest-bearing deposits	$	(59,955,033	)		(59,955,033	)		—		(59,955,033	)		—
Savings and interest-checking deposits		(86,282,685	)		(86,282,685	)		—		(86,282,685	)		—
Time deposits		(12,837,522	)		(12,808,615	)		—		(12,808,615	)		—
Short-term borrowings		(6,995,302	)		(6,995,302	)		—		(6,995,302	)		—
Long-term borrowings		(7,462,890	)		(7,070,243	)		—		(7,070,243	)		—
Accrued interest payable		(182,906	)		(182,906	)		—		(182,906	)		—
Other financial instruments:
Commitments to originate real estate loans for sale	$	(28,141	)		(28,141	)		—		—			(28,141	)
Commitments to sell real estate loans		38,844			38,844			—		38,844			—
Other credit-related commitments		(152,513	)		(152,513	)		—		—			(152,513	)
Interest rate swap agreements used for interest rate risk management		11,250			11,250			—		11,250			—
Interest rate and foreign exchange contracts not designated as hedging instruments		(722,949	)		(722,949	)		—		(722,949	)		—

12. Fair value measurements, continued


	December 31, 2022
	Carrying Amount			Estimated Fair Value			Level 1		Level 2			Level 3
				(In thousands)
Financial assets:
Cash and cash equivalents	$	1,517,244			1,517,244			1,371,688		145,556			—
Interest-bearing deposits at banks		24,958,719			24,958,719			—		24,958,719			—
Federal funds sold		3,000			3,000			—		3,000			—
Trading account		117,847			117,847			117,847		—			—
Investment securities		25,210,871			24,056,322			145,289		23,860,445			50,588
Loans and leases:
Commercial loans and leases		41,850,566			41,139,985			—		—			41,139,985
Commercial real estate loans		45,364,571			43,214,646			—		130,652			43,083,994
Residential real estate loans		23,755,947			21,780,214			—		7,049,540			14,730,674
Consumer loans		20,593,079			20,093,523			—		—			20,093,523
Allowance for credit losses		(1,925,331	)		—			—		—			—
Loans and leases, net		129,638,832			126,228,368			—		7,180,192			119,048,176
Accrued interest receivable		646,250			646,250			—		646,250			—
Financial liabilities:
Noninterest-bearing deposits	$	(65,501,860	)		(65,501,860	)		—		(65,501,860	)		—
Savings and interest-checking deposits		(87,911,463	)		(87,911,463	)		—		(87,911,463	)		—
Time deposits		(10,101,545	)		(10,143,110	)		—		(10,143,110	)		—
Short-term borrowings		(3,554,951	)		(3,554,951	)		—		(3,554,951	)		—
Long-term borrowings		(3,964,537	)		(3,926,489	)		—		(3,926,489	)		—
Accrued interest payable		(81,356	)		(81,356	)		—		(81,356	)		—
Other financial instruments:
Commitments to originate real estate loans for sale	$	(45,573	)		(45,573	)		—		—			(45,573	)
Commitments to sell real estate loans		54,424			54,424			—		54,424			—
Other credit-related commitments		(148,772	)		(148,772	)		—		—			(148,772	)
Interest rate swap agreements used for interest rate risk management		(7,892	)		(7,892	)		—		(7,892	)		—
Interest rate and foreign exchange contracts not designated as hedging instruments		(920,316	)		(920,316	)		—		(920,316	)		—

Acquisition and divestiture (Tables)

3 Months Ended

Mar. 31, 2023

Business Combinations [Abstract]

Summary of Identifiable Assets Acquired, Liabilities Assumed and Preferred Stock Exchanged as of Acquisition

The consideration paid for People’s United common equity and the amounts of identifiable assets acquired, liabilities assumed and preferred stock converted as of the acquisition date follows.


	(In thousands)
Consideration:
Common stock issued (50,325,004 shares)	$	8,286,515
Common stock awards converted		104,810
Cash		1,824
Total consideration		8,393,149

Net assets acquired:
Identifiable assets
Cash and due from banks		395,747
Interest-bearing deposits at banks		9,193,346
Investment securities		11,574,689
Loans and leases		35,840,648
Core deposit and other intangible assets		261,000
Other assets		2,979,388
Total identifiable assets acquired		60,244,818
Liabilities and preferred stock
Deposits		52,967,915
Borrowings		1,389,012
Other liabilities		1,142,387
Total liabilities assumed		55,499,314
Preferred stock		260,600
Total liabilities and preferred stock		55,759,914
Net assets acquired		4,484,904
Goodwill	$	3,908,245

Summary of Unpaid Principal Balance to Fair Value of Loans and Leases by Portfolio Segment

The following table reconciles the unpaid principal balance to the fair value of loans and leases at April 1, 2022:


	PCD				Non-PCD
	(In thousands)
Unpaid principal balance	$	3,410,506		(a)	$	32,896,454
Allowance for credit losses at acquisition		(99,000	)	(a)		—
Other discount		(106,814	)			(260,498	)	(b)
Fair value	$	3,204,692			$	32,635,956

(a)

The unpaid principal balance and allowance for credit losses at acquisition is net of charge-offs of $33 million recognized on the PCD loans.

(b)

Includes approximately $242 million of principal balances not expected to be collected.

Summary of Acquisition, Pro Forma Information

The following table presents certain pro forma information as if People’s United had been acquired on January 1, 2021.


	Pro forma
	Three months ended March 31, 2022
	(In thousands)
Total revenues (a)	$	1,931,788
Net income		369,404

(a)

Represents the total of net interest income and other income.

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Commitments to extend credit to commercial customers	$ 12,500,000,000	$ 11,700,000,000
Maximum credit risk for recourse associated with loans sold under Federal National Mortgage Association Delegated Underwriting and Servicing program	3,800,000,000	$ 3,900,000,000
Minimum [Member]
Loss Contingencies [Line Items]
Range of reasonably possible losses	0
Maximum [Member]
Loss Contingencies [Line Items]
Range of reasonably possible losses	$ 25,000,000

Investment Securities - Investment Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	$ 5,598,977	$ 9,670,043
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	120,806	377,333
Estimated fair value, 12 months or more	5,050,671	943,530
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	237,258	67,373
Held to maturity, Estimated fair value, Less than 12 months	8,953,141	10,559,073
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	593,815	885,190
Held to maturity, Estimated fair value, 12 months or more	4,367,697	1,354,961
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	424,244	279,647
Total investment securities, fair value less than 12 months	14,552,118	20,229,116
Investment Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses	714,621	1,262,523
Total of investment securities, fair value, 12 Months or More	9,418,368	2,298,491
Investment Securities Continuous Unrealized Loss Position Twelve Months or Longer Aggregate Losses	661,502	347,020
U.S. Treasury and Federal Agencies [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	4,257,631	6,706,413
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	75,505	183,760
Estimated fair value, 12 months or more	3,251,259	841,945
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	111,822	59,412
Held to maturity, Estimated fair value, Less than 12 months	1,021,248	1,008,288
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	35,427	45,747
Commercial [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	615,024	574,299
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	16,985	20,480
Estimated fair value, 12 months or more	2,120
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	74
Held to maturity, Estimated fair value, Less than 12 months	1,739,336	808,903
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	106,970	103,528
Residential [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	660,250	2,295,873
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	25,055	169,489
Estimated fair value, 12 months or more	1,704,875	28,305
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	116,393	1,792
Held to maturity, Estimated fair value, Less than 12 months	5,613,759	6,292,462
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	446,267	619,403
Held to maturity, Estimated fair value, 12 months or more	2,464,780	1,319,300
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	350,212	271,660
Obligations of States and Political Subdivisions [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Held to maturity, Estimated fair value, Less than 12 months	576,759	2,449,420
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	5,041	116,512
Held to maturity, Estimated fair value, 12 months or more	1,867,537
Investment Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses	67,183
Other Debt Securities [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	66,072	93,458
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	3,261	3,604
Estimated fair value, 12 months or more	92,417	73,280
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	8,969	6,169
Privately Issued [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Held to maturity, Estimated fair value, Less than 12 months	2,039
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	110
Held to maturity, Estimated fair value, 12 months or more	35,380	35,661
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	$ 6,849	$ 7,987

Pension plans and other postretirement benefits (Tables)

3 Months Ended

Mar. 31, 2023

Compensation And Retirement Disclosure [Abstract]

Net Periodic Defined Benefit Cost for Defined Benefit Plans

The Company provides defined benefit pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic defined benefit cost for defined benefit plans consisted of the following:


	Pension Benefits						Other Postretirement Benefits
	Three Months Ended March 31
	2023			2022			2023			2022
	(In thousands)

Service cost	$	2,723		$	4,271		$	390		$	232
Interest cost on projected benefit obligation		28,835			16,267			744			355
Expected return on plan assets		(50,400	)		(37,150	)		—			—
Amortization of prior service cost (credit)		50			125			(525	)		(1,075	)
Amortization of net actuarial loss (gain)		(900	)		4,625			(650	)		(325	)
Net periodic cost (benefit)	$	(19,692	)	$	(11,862	)	$	(41	)	$	(813	)

Acquisition and Divestiture - Summary of Acquisition, Pro Forma Information (Details) - Peoples United Financial Inc [Member]
$ in Thousands

3 Months Ended

Mar. 31, 2022

USD ($)

Accounts, Notes, Loans and Financing Receivable [Line Items]

Total revenues

$ 1,931,788

^[1]

Net income

$ 369,404

[1]	Represents the total of net interest income and other income.

Acquisition and Divestiture - Summary of Identifiable Assets Acquired, Liabilities Assumed and Preferred Stock Exchanged as of Acquisition (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Mar. 31, 2023	Dec. 31, 2022
Liabilities and preferred stock:
Total liabilities and shareholders’ equity		$ 202,956,407	$ 200,729,841
Goodwill		$ 8,490,089	$ 8,490,089
Peoples United Financial Inc [Member]
Consideration:
Common stock issued (50,325,004 shares)	$ 8,286,515
Common stock awards converted	104,810
Cash	1,824
Total consideration	8,393,149
Identifiable assets
Cash and due from banks	395,747
Interest-bearing deposits at banks	9,193,346
Investment securities	11,574,689
Loans and leases	35,840,648
Core deposit and other intangible assets	261,000
Other assets	2,979,388
Total identifiable assets acquired	60,244,818
Liabilities and preferred stock:
Deposits	52,967,915
Borrowings	1,389,012
Other liabilities	1,142,387
Total liabilities assumed	55,499,314
Preferred stock	260,600
Total liabilities and shareholders’ equity	55,759,914
Net assets acquired	4,484,904
Goodwill	$ 3,908,245

Variable interest entities and asset securitizations

3 Months Ended

Mar. 31, 2023

Text Block [Abstract]

Variable interest entities and asset securitizations

11. Variable interest entities and asset securitizations

The Company’s securitization activity has consisted of securitizing loans originated for sale into government issued or guaranteed mortgage-backed securities. The Company has not recognized any losses as a result of having securitized assets.

As described in note 5, M&T has issued junior subordinated debentures payable to various trusts that have issued Capital Securities. M&T owns the common securities of those trust entities. The Company is not considered to be the primary beneficiary of those entities and, accordingly, the trusts are not included in the Company’s consolidated financial statements. At each of March 31, 2023 and December 31, 2022, the Company included the junior subordinated debentures as “long-term borrowings” in its consolidated balance sheet and recognized $22 million in other assets for its “investment” in the common securities of the trusts that will be concomitantly repaid to M&T by the respective trust from the proceeds of M&T’s repayment of the junior subordinated debentures associated with preferred capital securities described in note 5.

11. Variable interest entities and asset securitizations, continued

The Company has invested as a limited partner in various partnerships that collectively had total assets of approximately $9.2 billion at both March 31, 2023 and December 31, 2022. Those partnerships generally construct or acquire properties for which the investing partners are eligible to receive certain federal income tax credits in accordance with government guidelines. Such investments may also provide tax deductible losses to the partners. The partnership investments also assist the Company in achieving its community reinvestment initiatives. As a limited partner, there is no recourse to the Company by creditors of the partnerships. However, the tax credits that result from the Company’s investments in such partnerships are generally subject to recapture should a partnership fail to comply with the respective government regulations. The Company’s carrying amount of its investments in such partnerships was $1.5 billion at both March 31, 2023 and December 31, 2022, including $547 million and $545 million of unfunded commitments, at each of those respective dates. Contingent commitments to provide additional capital contributions to these partnerships were not material at March 31, 2023. The Company has not provided financial or other support to the partnerships that was not contractually required. The Company’s maximum exposure to loss from its investments in such partnerships as of March 31, 2023 was $2.0 billion, including possible recapture of certain tax credits. Management currently estimates that no material losses are probable as a result of the Company’s involvement with such entities. The Company, in its position as limited partner, does not direct the activities that most significantly impact the economic performance of the partnerships and, therefore, in accordance with the accounting provisions for variable interest entities, the partnership entities are not included in the Company’s consolidated financial statements. The Company’s investment in qualified affordable housing projects is amortized to income taxes in the consolidated statement of income as tax credits and other tax benefits resulting from deductible losses associated with the projects are received. The Company amortized $40 million and $20 million of its investments in qualified affordable housing projects to income tax expense during the three-month periods ended March 31, 2023 and 2022, respectively, and recognized $46 million and $23 million of tax credits and other tax benefits during those respective periods.

The Company serves as investment advisor for certain registered money-market funds. The Company has no explicit arrangement to provide support to those funds, but may waive portions of its allowable management fees as a result of market conditions.

Shareholders' Equity - Issued and Outstanding Preferred Stock (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, shares issued	10,000,000	10,000,000
Carrying Value	$ 2,010,600	$ 2,010,600

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 1,817,740	$ 1,517,244
Interest-bearing deposits at banks	22,306,425	24,958,719
Federal funds sold		3,000
Trading account	165,216	117,847
Investment securities
Available for sale (cost: $11,393,916 at March 31, 2023; $11,193,152 at December 31, 2022)	11,038,922	10,748,961
Held to maturity (fair value: $15,203,711 at March 31, 2023; $12,375,420 at December 31, 2022)	16,201,571	13,529,969
Equity and other securities (cost: $1,204,957 at March 31, 2023; $933,766 at December 31, 2022)	1,202,716	931,941
Total investment securities	28,443,209	25,210,871
Loans and leases	133,531,052	132,074,156
Unearned discount	(593,360)	(509,993)
Loans and leases, net of unearned discount	132,937,692	131,564,163
Allowance for credit losses	(1,975,110)	(1,925,331)
Loans and leases, net	130,962,582	129,638,832
Premises and equipment	1,664,021	1,653,628
Goodwill	8,490,089	8,490,089
Core deposit and other intangible assets	192,166	209,374
Accrued interest and other assets	8,914,959	8,930,237
Total assets	202,956,407	200,729,841
Liabilities
Noninterest-bearing deposits	59,955,033	65,501,860
Savings and interest-checking deposits	86,282,685	87,911,463
Time deposits	12,837,522	10,101,545
Total deposits	159,075,240	163,514,868
Short-term borrowings	6,995,302	3,554,951
Accrued interest and other liabilities	4,045,804	4,377,495
Long-term borrowings	7,462,890	3,964,537
Total liabilities	177,579,236	175,411,851
Shareholders' equity
Preferred stock, $1.00 par, 20,000,000 shares authorized; Issued and outstanding: Liquidation preference of $1,000 per share: 350,000 shares at March 31, 2023 and December 31, 2022; Liquidation preference of $10,000 per share: 140,000 shares at March 31, 2023 and December 31, 2022; Liquidation preference of $25 per share: 10,000,000 shares at March 31, 2023 and December 31, 2022	2,010,600	2,010,600
Common stock, $.50 par, 250,000,000 shares authorized,179,436,779 shares issued at March 31, 2023 and December 31, 2022	89,718	89,718
Common stock issuable, 11,998 shares at March 31, 2023;14,031 shares at December 31, 2022	957	1,112
Additional paid-in capital	9,986,325	10,002,891
Retained earnings	16,212,095	15,753,978
Accumulated other comprehensive income (loss), net	(645,005)	(790,030)
Treasury stock - common, at cost -13,583,874 shares at March 31, 2023; 10,165,419 shares at December 31, 2022	(2,277,519)	(1,750,279)
Total shareholders’ equity	25,377,171	25,317,990
Total liabilities and shareholders’ equity	$ 202,956,407	$ 200,729,841

Loans and leases and the allowance for credit losses (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Summary of Current, Past Due and Nonaccrual Loans

A summary of current, past due and nonaccrual loans as of March 31, 2023 and December 31, 2022 follows:


	Current		30-89 Days Past Due		Accruing Loans Past Due 90 Days or More		Nonaccrual		Total
	(In thousands)
March 31, 2023
Commercial, financial, leasing, etc.	$	42,825,221	$	489,322	$	61,550	$	382,268	$	43,758,361
Real estate:
Commercial		35,250,019		399,114		37,137		1,516,655		37,202,925
Residential builder and developer		1,126,693		111,894		—		3,303		1,241,890
Other commercial construction		6,231,642		242,226		10,843		143,015		6,627,726
Residential		21,726,963		496,225		292,950		253,646		22,769,784
Residential — limited documentation		925,180		26,046		—		68,935		1,020,161
Consumer:
Home equity lines and loans		4,751,822		26,679		—		80,766		4,859,267
Recreational finance		9,066,587		48,448		—		34,186		9,149,221
Automobile		4,249,035		35,270		—		26,842		4,311,147
Other		1,928,364		16,686		4,977		47,183		1,997,210
Total	$	128,081,526	$	1,891,910	$	407,457	$	2,556,799	$	132,937,692

December 31, 2022
Commercial, financial, leasing, etc.	$	40,982,398	$	448,462	$	72,502	$	347,204	$	41,850,566
Real estate:
Commercial		34,972,627		311,188		67,696		1,396,662		36,748,173
Residential builder and developer		1,304,798		8,703		—		1,229		1,314,730
Other commercial construction		6,936,661		239,521		549		124,937		7,301,668
Residential		21,491,506		595,897		345,402		272,090		22,704,895
Residential — limited documentation		950,782		22,456		—		77,814		1,051,052
Consumer:
Home equity lines and loans		4,891,311		30,787		—		84,788		5,006,886
Recreational finance		8,974,171		54,593		—		44,630		9,073,394
Automobile		4,393,206		44,486		—		39,584		4,477,276
Other		1,958,196		22,961		4,869		49,497		2,035,523
Total	$	126,855,656	$	1,779,054	$	491,018	$	2,438,435	$	131,564,163

Summary of Loan grades applied various classes of Commercial and Real Estate Loans

The following table summarizes the loan grades applied at March 31, 2023 to the various classes of the Company’s commercial loans and commercial real estate loans and gross charge-offs for those types of loans for the three months ended March 31, 2023 by origination year.


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2023		2022		2021		2020		2019		Prior		Loans		Loans		Total
	(In thousands)
Commercial, financial, leasing, etc.:
Loan grades:
Pass	$	2,250,004		8,170,214		4,708,911		1,809,434		1,606,622		2,562,970		20,254,352		42,666	$	41,405,173
Criticized accrual		42,754		280,361		271,872		190,293		134,573		305,353		726,296		19,418		1,970,920
Criticized nonaccrual		258		24,490		44,960		32,392		27,903		92,676		152,114		7,475		382,268
Total commercial, financial, leasing, etc.	$	2,293,016		8,475,065		5,025,743		2,032,119		1,769,098		2,960,999		21,132,762		69,559	$	43,758,361
Gross charge-offs	$	107		4,104		3,405		2,753		2,303		5,557		773		—	$	19,002

Real estate:
Commercial:
Loan grades:
Pass	$	1,325,649		3,942,090		3,262,243		3,261,936		4,618,336		13,821,937		765,232		—	$	30,997,423
Criticized accrual		2,491		385,474		463,714		344,587		800,868		2,662,161		29,552		—		4,688,847
Criticized nonaccrual		—		27,340		26,015		260,829		247,845		932,736		21,890		—		1,516,655
Total commercial real estate	$	1,328,140		4,354,904		3,751,972		3,867,352		5,667,049		17,416,834		816,674		—	$	37,202,925
Gross charge-offs	$	—		—		—		—		26,390		2,478		—		—	$	28,868

Residential builder and developer:
Loan grades:
Pass	$	83,843		602,093		175,624		11,345		18,198		14,911		120,680		—	$	1,026,694
Criticized accrual		987		8,381		25,225		4,161		113,186		30,928		29,025		—		211,893
Criticized nonaccrual		—		1		720		—		518		2,064		—		—		3,303
Total residential builder and developer	$	84,830		610,475		201,569		15,506		131,902		47,903		149,705		—	$	1,241,890
Gross charge-offs	$	—		—		—		—		—		11		1,506		—	$	1,517

Other commercial construction:
Loan grades:
Pass	$	155,587		1,193,762		1,064,242		1,125,568		873,449		370,721		28,802		—	$	4,812,131
Criticized accrual		196		26,116		124,624		325,712		796,275		399,657		—		—		1,672,580
Criticized nonaccrual		—		—		9,976		43,194		61,154		26,265		2,426		—		143,015
Total other commercial construction	$	155,783		1,219,878		1,198,842		1,494,474		1,730,878		796,643		31,228		—	$	6,627,726
Gross charge-offs	$	—		—		—		—		—		—		—		—	$	—

The following table summarizes the loan grades applied at December 31, 2022 to the various classes of the Company’s commercial loans and commercial real estate loans by origination year.


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2022		2021		2020		2019		2018		Prior		Loans		Loans		Total
	(In thousands)
Commercial, financial, leasing, etc.:
Loan grades:
Pass	$	8,575,130		4,952,758		2,024,603		1,796,047		817,569		1,970,947		19,444,247		40,471	$	39,621,772
Criticized accrual		247,626		222,861		190,368		116,881		71,485		246,846		768,497		17,026		1,881,590
Criticized nonaccrual		18,379		52,067		37,608		36,241		35,689		59,146		100,972		7,102		347,204
Total commercial, financial, leasing, etc.	$	8,841,135		5,227,686		2,252,579		1,949,169		924,743		2,276,939		20,313,716		64,599	$	41,850,566

Real estate:
Commercial:
Loan grades:
Pass	$	4,136,890		3,379,900		3,388,590		4,557,065		3,293,380		10,905,956		869,981		—	$	30,531,762
Criticized accrual		324,652		463,484		467,557		688,239		937,421		1,890,297		48,099		—		4,819,749
Criticized nonaccrual		11,541		22,459		183,986		297,106		170,382		688,079		23,109		—		1,396,662
Total commercial real estate	$	4,473,083		3,865,843		4,040,133		5,542,410		4,401,183		13,484,332		941,189		—	$	36,748,173

Residential builder and developer:
Loan grades:
Pass	$	680,705		230,079		11,280		22,111		12,812		9,865		150,404		—	$	1,117,256
Criticized accrual		2,969		28,472		9,952		108,968		15,069		—		30,815		—		196,245
Criticized nonaccrual		57		654		—		518		—		—		—		—		1,229
Total residential builder and developer	$	683,731		259,205		21,232		131,597		27,881		9,865		181,219		—	$	1,314,730

Other commercial construction:
Loan grades:
Pass	$	1,032,774		1,080,141		1,225,845		1,185,685		366,686		297,355		15,575		—	$	5,204,061
Criticized accrual		37,893		145,199		320,463		1,025,371		299,350		144,394		—		—		1,972,670
Criticized nonaccrual		—		9,992		44,037		35,841		10,542		22,099		2,426		—		124,937
Total other commercial construction	$	1,070,667		1,235,332		1,590,345		2,246,897		676,578		463,848		18,001		—	$	7,301,668

Summary of loans in Accrual and Nonaccrual Status

A summary of loans in accrual and nonaccrual status at March 31, 2023 for the various classes of the Company’s residential real estate loans and consumer loans and gross charge-offs for those types of loans for the three months ended March 31, 2023 by origination year follows.


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2023		2022		2021		2020		2019		Prior		Loans		Loans		Total
	(In thousands)
Residential:
Current	$	497,138		5,056,599		3,968,015		2,722,670		1,360,032		8,098,258		24,251		—	$	21,726,963
30-89 days past due		1,408		55,995		50,487		25,710		19,711		340,852		2,062		—		496,225
Accruing loans past due 90 days or more		—		14,957		28,430		17,231		11,726		220,606		—		—		292,950
Nonaccrual		—		7,087		12,270		2,528		8,859		216,014		6,888		—		253,646
Total residential	$	498,546		5,134,638		4,059,202		2,768,139		1,400,328		8,875,730		33,201		—	$	22,769,784
Gross charge-offs	$	—		75		115		21		68		1,286		—		—	$	1,565

Residential - limited documentation:
Current	$	—		—		—		—		—		925,180		—		—	$	925,180
30-89 days past due		—		—		—		—		—		26,046		—		—		26,046
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		68,935		—		—		68,935
Total residential - limited documentation	$	—		—		—		—		—		1,020,161		—		—	$	1,020,161
Gross charge-offs	$	—		—		—		—		—		136		—		—	$	136

Consumer:
Home equity lines and loans:
Current	$	172		33		2,007		2,265		15,068		113,605		3,138,593		1,480,079	$	4,751,822
30-89 days past due		—		—		10		55		26		1,563		—		25,025		26,679
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		15		—		65		8,110		1,880		70,696		80,766
Total home equity lines and loans	$	172		33		2,032		2,320		15,159		123,278		3,140,473		1,575,800	$	4,859,267
Gross charge-offs	$	—		—		—		—		—		31		1,298		704	$	2,033

Recreational finance:
Current	$	521,520		2,711,445		2,171,200		1,511,470		918,584		1,232,368		—		—	$	9,066,587
30-89 days past due		280		8,378		9,892		9,833		7,475		12,590		—		—		48,448
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		2,875		6,473		7,112		5,256		12,470		—		—		34,186
Total recreational finance	$	521,800		2,722,698		2,187,565		1,528,415		931,315		1,257,428		—		—	$	9,149,221
Gross charge-offs	$	—		2,369		3,013		2,985		2,412		4,042		—		—	$	14,821

Automobile:
Current	$	253,110		1,414,115		1,419,830		625,620		328,506		207,854		—		—	$	4,249,035
30-89 days past due		397		6,688		10,828		5,844		5,330		6,183		—		—		35,270
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		2,669		8,430		4,674		4,445		6,624		—		—		26,842
Total automobile	$	253,507		1,423,472		1,439,088		636,138		338,281		220,661		—		—	$	4,311,147
Gross charge-offs	$	—		1,636		2,068		1,169		957		881		—		—	$	6,711

Other:
Current		72,524		246,430		156,659		51,040		31,557		26,567		1,337,730		5,857		1,928,364
30-89 days past due	$	2,119		1,617		1,336		198		272		555		10,045		544	$	16,686
Accruing loans past due 90 days or more		—		—		—		—		—		198		4,779		—		4,977
Nonaccrual		1,711		588		535		195		149		258		43,631		116		47,183
Total other	$	76,354		248,635		158,530		51,433		31,978		27,578		1,396,185		6,517	$	1,997,210
Gross charge-offs	$	912		8,657		2,735		1,395		1,581		4,986		20		—	$	20,286

Total loans and leases at March 31, 2023	$	5,212,148		24,189,798		18,024,543		12,395,896		12,015,988		32,747,215		26,700,228		1,651,876	$	132,937,692
Total gross charge-offs for the three months ended March 31, 2023	$	1,019		16,841		11,336		8,323		33,711		19,408		3,597		704	$	94,939

A summary of loans in accrual and nonaccrual status at December 31, 2022 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows.


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2022		2021		2020		2019		2018		Prior		Loans		Loans		Total
	(In thousands)
Residential:
Current	$	5,071,379		4,001,652		2,717,371		1,392,866		753,908		7,523,890		30,440		—	$	21,491,506
30-89 days past due		59,477		51,308		40,337		21,849		23,126		399,301		499		—		595,897
Accruing loans past due 90 days or more		12,012		39,934		20,067		14,050		14,007		245,332		—		—		345,402
Nonaccrual		5,686		10,865		2,583		9,860		4,650		231,093		7,353		—		272,090
Total residential	$	5,148,554		4,103,759		2,780,358		1,438,625		795,691		8,399,616		38,292		—	$	22,704,895

Residential - limited documentation:
Current	$	—		—		—		—		—		950,782		—		—	$	950,782
30-89 days past due		—		—		—		—		—		22,456		—		—		22,456
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		77,814		—		—		77,814
Total residential - limited documentation	$	—		—		—		—		—		1,051,052		—		—	$	1,051,052

Consumer:
Home equity lines and loans:
Current	$	930		2,109		2,441		15,361		23,321		97,282		3,262,533		1,487,334	$	4,891,311
30-89 days past due		—		—		—		171		126		2,030		—		28,460		30,787
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		15		—		536		334		6,458		2,799		74,646		84,788
Total home equity lines and loans	$	930		2,124		2,441		16,068		23,781		105,770		3,265,332		1,590,440	$	5,006,886

Recreational finance:
Current	$	2,842,091		2,280,627		1,587,629		963,907		486,964		812,953		—		—	$	8,974,171
30-89 days past due		8,648		9,525		12,412		8,387		5,202		10,419		—		—		54,593
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		3,533		7,440		9,427		7,625		5,344		11,261		—		—		44,630
Total recreational finance	$	2,854,272		2,297,592		1,609,468		979,919		497,510		834,633		—		—	$	9,073,394

Automobile:
Current	$	1,491,076		1,557,676		702,711		378,962		167,438		95,343		—		—	$	4,393,206
30-89 days past due		6,926		13,324		7,284		7,239		5,464		4,249		—		—		44,486
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		2,493		10,698		7,372		7,520		5,620		5,881		—		—		39,584
Total automobile	$	1,500,495		1,581,698		717,367		393,721		178,522		105,473		—		—	$	4,477,276

Other:
Current	$	274,530		172,238		58,339		38,439		8,217		23,163		1,375,049		8,221	$	1,958,196
30-89 days past due		3,783		1,450		326		386		141		569		15,655		651		22,961
Accruing loans past due 90 days or more		—		—		—		—		—		226		4,643		—		4,869
Nonaccrual		2,745		830		332		371		120		465		44,449		185		49,497
Total other	$	281,058		174,518		58,997		39,196		8,478		24,423		1,439,796		9,057	$	2,035,523

Total loans and leases at December 31, 2022	$	24,853,925		18,747,757		13,072,920		12,737,602		7,534,367		26,755,951		26,197,545		1,664,096	$	131,564,163

Changes in Allowance for Credit Losses

Changes in the allowance for credit losses for the three months ended March 31, 2023 and 2022 were as follows:


	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Total
	(In thousands)
Three Months Ended March 31, 2023
Beginning balance	$	502,153			676,684			115,092			631,402		$	1,925,331
Provision for credit losses		12,187			95,992			(1,522	)		13,343			120,000
Net charge-offs
Charge-offs		(19,002	)		(30,385	)		(1,701	)		(43,851	)		(94,939	)
Recoveries		9,441			1,330			1,323			12,624			24,718
Net charge-offs		(9,561	)		(29,055	)		(378	)		(31,227	)		(70,221	)
Ending balance	$	504,779			743,621			113,192			613,518		$	1,975,110


	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Total
	(In thousands)
Three Months Ended March 31, 2022
Beginning balance	$	283,899			557,239			71,726			556,362		$	1,469,226
Provision for credit losses		28,725			(30,938	)		1,720			10,493			10,000
Net charge-offs
Charge-offs		(19,234	)		(1,800	)		(3,972	)		(26,032	)		(51,038	)
Recoveries		13,665			14,943			3,107			12,456			44,171
Net (charge-offs) recoveries		(5,569	)		13,143			(865	)		(13,576	)		(6,867	)
Ending balance	$	307,055			539,444			72,581			553,279		$	1,472,359

Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans

Information with respect to loans and leases that were considered nonaccrual at the beginning and end of the reporting period and the interest income recognized on such loans for three-month periods ended March 31, 2023 and 2022 follows.


	Amortized Cost with Allowance		Amortized Cost without Allowance		Total		Amortized Cost		Interest Income Recognized
	March 31, 2023						January 1, 2023		Three Months Ended March 31, 2023
	(In thousands)
Commercial, financial, leasing, etc.	$	185,867	$	196,401	$	382,268	$	347,204	$	2,279
Real estate:
Commercial		404,564		1,112,091		1,516,655		1,396,662		5,501
Residential builder and developer		3,303		—		3,303		1,229		366
Other commercial construction		94,188		48,827		143,015		124,937		1,662
Residential		124,574		129,072		253,646		272,090		4,376
Residential — limited documentation		40,165		28,770		68,935		77,814		164
Consumer:
Home equity lines and loans		39,131		41,635		80,766		84,788		2,221
Recreational finance		24,409		9,777		34,186		44,630		171
Automobile		22,926		3,916		26,842		39,584		35
Other		47,152		31		47,183		49,497		88
Total	$	986,279	$	1,570,520	$	2,556,799	$	2,438,435	$	16,863

	March 31, 2022						January 1, 2022		Three Months Ended March 31, 2022
	(In thousands)
Commercial, financial, leasing, etc.	$	171,322	$	103,824	$	275,146	$	221,022	$	13,594
Real estate:
Commercial		222,771		934,915		1,157,686		1,069,280		6,131
Residential builder and developer		524		2,392		2,916		3,005		1,428
Other commercial construction		29,914		20,941		50,855		111,405		626
Residential		191,495		150,176		341,671		355,858		6,541
Residential — limited documentation		80,590		42,922		123,512		122,888		196
Consumer:
Home equity lines and loans		32,783		38,706		71,489		70,488		809
Recreational finance		24,350		7,196		31,546		27,811		161
Automobile		30,129		5,221		35,350		34,037		38
Other		43,964		96		44,060		44,289		92
Total	$	827,842	$	1,306,389	$	2,134,231	$	2,060,083	$	29,616

Loan Modification Activities to Borrowers Experiencing Financial Difficulty on Financing Receivables

The table that follows summarizes the Company’s loan modification activities to borrowers experiencing financial difficulty for the three-month period ended March 31, 2023:


	Payment Deferral		Interest Rate Reduction		Other		Combination of Modification Types (a)		Total (b)		Percent of Total Loan Class
	(Dollars in thousands)
Three Months Ended March 31, 2023

Commercial, financial, leasing, etc.	$	43,564	$	—	$	—	$	286	$	43,850		0.10	%
Real estate:
Commercial		120,304		—		—		—		120,304		0.32	%
Residential builder and developer		7,983		—		—		—		7,983		0.64	%
Other commercial construction		91,811		—		—		—		91,811		1.39	%
Residential		32,460		—		—		1,963		34,423		0.15	%
Residential — limited documentation		5,237		—		—		—		5,237		0.51	%
Consumer:
Home equity lines and loans		—		—		—		442		442		0.01	%
Recreational finance		136		—		—		—		136		0.00	%
Automobile		45		—		—		—		45		0.00	%
Other		—		—		—		—		—		—
Total	$	301,540	$	—	$	—	$	2,691	$	304,231		0.23	%

(a)

Predominantly payment deferrals combined with interest rate reductions.

(b)

Includes approximately $23 million of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans).

The financial effects of the modifications in the previous table include an increase in the weighted-average remaining term for commercial loans of 1.1 years, commercial real estate loans of 1.2 years and residential real estate loans of 9.1 years.

Modified loans to borrowers experiencing financial difficulty are subject to the allowance for credit losses methodology described herein, including the use of models to inform credit loss estimates and, to the extent larger balance commercial and commercial real estate loans are in nonaccrual status, a loan-by-loan analysis of expected credit losses on those individual loans. Loans to borrowers experiencing financial difficulty that were modified during the three months ended March 31, 2023 and for which there was a subsequent payment default during that period were not material.

4. Loans and leases and the allowance for credit losses, continued

Loan Modification Activities that were Considered Troubled Debt Restructurings

The table that follows summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the three-month period ended March 31, 2022. The table is not comparative to the preceding table. The Company no longer designates modified loans as a troubled debt restructuring in conjunction with the adoption of amended accounting guidance on January 1, 2023.


					Post-modification (a)
	Number		Pre- modification Recorded Investment		Principal Deferral		Interest Rate Reduction		Other		Combination of Concession Types		Total
	(Dollars in thousands)

Three Months Ended March 31, 2022

Commercial, financial, leasing, etc.		37	$	10,003	$	6,920	$	—	$	54	$	2,780	$	9,754
Real estate:
Commercial		17		7,582		4,376		—		2,101		855		7,332
Residential		97		24,051		15,443		—		—		9,961		25,404
Residential — limited documentation		5		1,076		894		—		—		193		1,087
Consumer:
Home equity lines and loans		35		2,150		1,988		—		—		172		2,160
Recreational finance		177		5,997		5,990		—		—		—		5,990
Automobile		534		10,263		10,233		—		—		—		10,233
Other		33		334		334		—		—		—		334
Total		935	$	61,456	$	46,178	$	—	$	2,155	$	13,961	$	62,294

_____________________________________________

(a)

Financial effects impacting the recorded investment included principal payments or advances, charge-offs and capitalized escrow arrearages. The present value of interest rate concessions, discounted at the effective rate of the original loan, was not material.

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net income	$ 701,624	$ 362,174
Adjustments to reconcile net income to net cash provided by operating activities
Provision for credit losses	120,000	10,000
Depreciation and amortization of premises and equipment	75,501	56,739
Amortization of capitalized servicing rights	19,832	25,316
Amortization of core deposit and other intangible assets	17,208	1,256
Provision for deferred income taxes	11,380	4,151
Asset write-downs	780	252
Net gain on sales of assets	(11,515)	(4,768)
Net change in accrued interest receivable, payable	54,789	15,748
Net change in other accrued income and expense	(42,828)	(99,163)
Net change in loans originated for sale	(274,222)	434,520
Net change in trading account and other non-hedging derivative assets and liabilities	(244,736)	489,545
Net cash provided by operating activities	427,813	1,295,770
Cash flows from investing activities
Proceeds from sales of investment securities equity and other	521,275	4,593
Proceeds from maturities of investment securities Available for sale	141,173	220,320
Proceeds from maturities of investment securities Held to maturity	281,245	120,032
Purchases of investment securities Available for sale	(337,196)	(2,156,662)
Purchases of investment securities Held to maturity	(2,947,627)	(566,119)
Purchases of investment securities equity and other	(792,465)	(10,966)
Net (increase) decrease in loans and leases	(1,166,228)	637,624
Net decrease in interest-bearing deposits at banks	2,652,294	5,846,922
Capital expenditures, net	(55,411)	(27,910)
Net decrease in loan servicing advances	206,668	342,947
Other, net	(251,440)	(215,201)
Net cash provided (used) by investing activities	(1,747,712)	4,195,580
Cash flows from financing activities
Net decrease in deposits	(4,440,810)	(5,224,696)
Net increase in short-term borrowings	3,440,351	3,261
Proceeds from long-term borrowings	3,485,675
Payments on long-term borrowings	(96)	(49)
Purchases of treasury stock	(594,000)
Dividends paid — common	(220,517)	(156,657)
Dividends paid — preferred	(33,554)	(30,718)
Other, net	(19,654)	(8,608)
Net cash provided (used) by financing activities	1,617,395	(5,417,467)
Net increase in cash, cash equivalents and restricted cash	297,496	73,883
Cash, cash equivalents and restricted cash at beginning of period	1,520,244	1,337,577
Cash, cash equivalents and restricted cash at end of period	1,817,740	1,411,460
Supplemental disclosure of cash flow information
Interest received during the period	2,289,226	978,682
Interest paid during the period	410,419	40,683
Income taxes paid during the period	22,474	33,638
Supplemental schedule of noncash investing and financing activities
Real estate acquired in settlement of loans	7,088	4,598
Additions to right-of-use assets under operating leases	$ 30,536	$ 16,458

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Uncollected amounts receivable	$ 68	$ 74
Accrued interest and other liabilities [Member]
Disaggregation Of Revenue [Line Items]
Deferred revenue	$ 45	$ 48

Acquisition and divestiture

3 Months Ended

Mar. 31, 2023

Business Combinations [Abstract]

Acquisition and divestiture

2. Acquisition and divestiture

Acquisition

On April 1, 2022, M&T completed the acquisition of People's United Financial, Inc. ("People's United"). Through subsidiaries, People's United provided commercial banking, retail banking and wealth management services to individual, corporate and municipal customers through a network of branches located in Connecticut, southeastern New York, Massachusetts, Vermont, New Hampshire and Maine. Following the merger, People's United Bank, National Association, a national banking association and a wholly owned subsidiary of People's United, merged with and into Manufacturers and Traders Trust Company ("M&T Bank"), the principal banking subsidiary of M&T, with M&T Bank as the surviving entity. The results of operations acquired from People's United have been included in the Company's financial results since April 1, 2022.

Pursuant to the terms of the merger agreement dated February 22, 2021, People’s United shareholders received consideration valued at .118 of an M&T common share in exchange for each common share of People’s United. The purchase price totaled approximately $8.4 billion (with the price based on M&T’s closing price of $164.66 per share as of April 1, 2022). M&T issued 50,325,004 common shares in completing the transaction. Additionally, People’s United outstanding preferred stock was converted into new shares of Series H Preferred Stock of M&T. The acquisition of People's United expanded the Company's geographical footprint and management expects the Company will benefit from greater geographical diversity and the advantages of scale associated with a larger company.

2. Acquisition and divestiture, continued

The People’s United transaction has been accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and preferred stock converted were recorded at estimated fair value on the acquisition date. The consideration paid for People’s United common equity and the amounts of identifiable assets acquired, liabilities assumed and preferred stock converted as of the acquisition date follows.


	(In thousands)
Consideration:
Common stock issued (50,325,004 shares)	$	8,286,515
Common stock awards converted		104,810
Cash		1,824
Total consideration		8,393,149

Net assets acquired:
Identifiable assets
Cash and due from banks		395,747
Interest-bearing deposits at banks		9,193,346
Investment securities		11,574,689
Loans and leases		35,840,648
Core deposit and other intangible assets		261,000
Other assets		2,979,388
Total identifiable assets acquired		60,244,818
Liabilities and preferred stock
Deposits		52,967,915
Borrowings		1,389,012
Other liabilities		1,142,387
Total liabilities assumed		55,499,314
Preferred stock		260,600
Total liabilities and preferred stock		55,759,914
Net assets acquired		4,484,904
Goodwill	$	3,908,245

GAAP requires loans and leases obtained through an acquisition that have experienced a more-than-insignificant deterioration in credit quality since origination be considered purchased credit deteriorated (“PCD”). The Company considered several factors in the determination of PCD loans, including loan grades assigned to acquired commercial loans and leases and commercial real estate loans utilizing the Company's loan grading system and delinquency status and history for acquired loans backed by residential real estate. For PCD loans and leases the initial estimate of expected credit losses of $99 million was established through an adjustment to increase both the initial carrying value and allowance for credit losses. GAAP also provides that an allowance for credit losses on loans acquired, but not classified as PCD, also be recognized above and beyond the impact of forecasted losses used in determining fair value. Accordingly, the Company recorded $242 million of provision for credit losses for non-PCD acquired loans and leases at the acquisition date. The following table reconciles the unpaid principal balance to the fair value of loans and leases at April 1, 2022:


	PCD				Non-PCD
	(In thousands)
Unpaid principal balance	$	3,410,506		(a)	$	32,896,454
Allowance for credit losses at acquisition		(99,000	)	(a)		—
Other discount		(106,814	)			(260,498	)	(b)
Fair value	$	3,204,692			$	32,635,956

(a)

The unpaid principal balance and allowance for credit losses at acquisition is net of charge-offs of $33 million recognized on the PCD loans.

(b)

Includes approximately $242 million of principal balances not expected to be collected.

2. Acquisition and divestiture, continued

In connection with the acquisition, the Company recorded approximately $3.9 billion of goodwill, which represents the excess of the purchase price over the fair value of the net assets acquired, and $261 million of core deposit and other intangible assets. The core deposit and other intangible assets are being amortized over periods of three to seven years.

The following table presents certain pro forma information as if People’s United had been acquired on January 1, 2021. These results combine the historical results of People’s United into the Company’s consolidated statement of income and, while adjustments were made for the estimated impact of certain fair valuation adjustments and other acquisition-related activity, they are not indicative of what would have occurred had the acquisition taken place as indicated. For example, merger-related expenses noted below are included in the periods where such expenses were incurred. Additionally, the Company expects to achieve operating cost savings and other business synergies as a result of the acquisition which are not reflected in the pro forma amounts that follow:


	Pro forma
	Three months ended March 31, 2022
	(In thousands)
Total revenues (a)	$	1,931,788
Net income		369,404

(a)

Represents the total of net interest income and other income.

In connection with the People’s United acquisition, the Company incurred merger-related expenses related to systems conversions and other costs of integrating and conforming acquired operations with and into the Company. Those expenses consisted largely of professional services, temporary help fees and other costs associated with actual or planned systems conversions and/or integration of operations and the introduction of the Company to its new customers; costs related to termination of existing contractual arrangements for various services; initial marketing and promotion expenses designed to introduce M&T Bank to its new customers; severance (for former People’s United employees); travel costs; and other costs of completing the transaction and commencing operations in new markets and offices. The Company did not incur any People's United merger-related expenses during the first quarter of 2023. Merger-related expenses incurred in the three months ended March 31, 2022 totaled approximately $17 million and consisted predominantly of professional services, including legal expenses and technology-related activities to prepare for planned integration efforts.

Divestiture

On December 19, 2022 the Company announced that it had entered into a definitive agreement to sell its Collective Investment Trust ("CIT") business to a private equity firm. The transaction was completed in April 2023. The Company will recognize a pre-tax gain on the sale of approximately $225 million in the second quarter of 2023. Prior to the sale, the CIT business contributed $45 million and $42 million to trust income in the first three months of 2023 and 2022, respectively. After considering expenses, the results of operations from the CIT business were not material to the Company's consolidated results of operations in those periods.

Segment Information - Information about Company's Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Net Income (Loss)	$ 701,624	$ 362,174
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	2,405,397	1,445,061
Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		1,445,061
Net Income (Loss)		362,174
Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		1,445,061
Net Income (Loss)		362,174
Business Banking [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)	113,251	39,532
Business Banking [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	273,551	141,346
Business Banking [Member] \| Intersegment Activity Eliminated in Consolidated Totals [Member]
Segment Reporting Information [Line Items]
Total Revenues	877	671
Business Banking [Member] \| Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		141,346
Net Income (Loss)		41,111
Business Banking [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		141,346
Net Income (Loss)		39,532
Business Banking [Member] \| Impact Of Changes [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)		(1,579)
Commercial Banking [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)	219,979	128,460
Commercial Banking [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	507,020	278,935
Commercial Banking [Member] \| Intersegment Activity Eliminated in Consolidated Totals [Member]
Segment Reporting Information [Line Items]
Total Revenues	10,226	863
Commercial Banking [Member] \| Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		289,372
Net Income (Loss)		144,608
Commercial Banking [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		278,935
Net Income (Loss)		128,460
Commercial Banking [Member] \| Impact Of Changes [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		(10,437)
Net Income (Loss)		(16,148)
Commercial Real Estate [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)	80,809	111,246
Commercial Real Estate [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	225,719	212,524
Commercial Real Estate [Member] \| Intersegment Activity Eliminated in Consolidated Totals [Member]
Segment Reporting Information [Line Items]
Total Revenues	289	179
Commercial Real Estate [Member] \| Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		202,087
Net Income (Loss)		97,610
Commercial Real Estate [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		212,524
Net Income (Loss)		111,246
Commercial Real Estate [Member] \| Impact Of Changes [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		10,437
Net Income (Loss)		13,636
Discretionary Portfolio [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)	(40,397)	34,685
Discretionary Portfolio [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	(33,396)	64,727
Discretionary Portfolio [Member] \| Intersegment Activity Eliminated in Consolidated Totals [Member]
Segment Reporting Information [Line Items]
Total Revenues	(15,205)	(27,805)
Discretionary Portfolio [Member] \| Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		64,727
Net Income (Loss)		35,385
Discretionary Portfolio [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		64,727
Net Income (Loss)		34,685
Discretionary Portfolio [Member] \| Impact Of Changes [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)		(700)
Residential Mortgage Banking [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)	(12,354)	27,114
Residential Mortgage Banking [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	77,654	137,444
Residential Mortgage Banking [Member] \| Intersegment Activity Eliminated in Consolidated Totals [Member]
Segment Reporting Information [Line Items]
Total Revenues	20,472	37,464
Residential Mortgage Banking [Member] \| Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		137,444
Net Income (Loss)		28,964
Residential Mortgage Banking [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		137,444
Net Income (Loss)		27,114
Residential Mortgage Banking [Member] \| Impact Of Changes [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)		(1,850)
Retail Banking [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)	316,594	79,082
Retail Banking [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	831,842	355,148
Retail Banking [Member] \| Intersegment Activity Eliminated in Consolidated Totals [Member]
Segment Reporting Information [Line Items]
Total Revenues	(39)	(3)
Retail Banking [Member] \| Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		355,148
Net Income (Loss)		84,164
Retail Banking [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		355,148
Net Income (Loss)		79,082
Retail Banking [Member] \| Impact Of Changes [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)		(5,082)
All Other [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)	23,742	(57,945)
All Other [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues	523,007	254,937
All Other [Member] \| Intersegment Activity Eliminated in Consolidated Totals [Member]
Segment Reporting Information [Line Items]
Total Revenues	$ (16,620)	(11,369)
All Other [Member] \| Previously Reported [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		254,937
Net Income (Loss)		(69,668)
All Other [Member] \| Revision of Prior Period, Reclassification, Adjustment [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenues		254,937
Net Income (Loss)		(57,945)
All Other [Member] \| Impact Of Changes [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Income (Loss)		$ 11,723

Segment Information - Information about Company's Segments (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Taxable-equivalent adjustment	$ 13,462,000	$ 3,234,000
Average total assets	202,599,000	151,648,000	$ 190,252,000
Commercial Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	$ 48,222,000	26,329,000	$ 40,930,000
Hospitality [Member]
Segment Reporting Information [Line Items]
Average total assets		$ 1,290,000

Earnings Per Common Share - Computations of Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income available to common equity	$ 676,683	$ 340,409
Less: Income attributable to unvested stock-based compensation awards	(1,172)	(819)
Net income available to common shareholders	$ 675,511	$ 339,590
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards	168,010	129,274
Less: Unvested stock-based compensation awards	(278)	(329)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock	678	471
Adjusted weighted-average shares outstanding	168,410	129,416
Diluted earnings per common share	$ 4.01	$ 2.62

Fair Value Measurements - Quantitative Information Related to Significant Unobservable Inputs (Detail) - Fair Value Measurements, Recurring [Member] - Other Assets and Other Liabilities [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Commitment expirations	0.00%	0.00%
Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Commitment expirations	95.00%	97.00%
Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Commitment expirations	7.00%	3.00%
Discounted Cash Flows [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Recurring fair value measurements for certain Level 3 Assets and Liabilities	$ (28,141)	$ (45,573)

Shareholders' Equity - Additional Information (Detail) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, par value	$ 1.00	$ 1.00

Loans and Leases and the Allowance for Credit Losses - Loan Modification Activities that were Considered Troubled Debt Restructurings (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($) Modification
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	935
Pre-modification Recorded Investment	$ 61,456
Loans and leases, net of unearned discount	$ 62,294
Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	37
Pre-modification Recorded Investment	$ 10,003
Loans and leases, net of unearned discount	$ 9,754
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	17
Pre-modification Recorded Investment	$ 7,582
Loans and leases, net of unearned discount	$ 7,332
Residential [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	97
Pre-modification Recorded Investment	$ 24,051
Loans and leases, net of unearned discount	$ 25,404
Residential Limited Documentation [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	5
Pre-modification Recorded Investment	$ 1,076
Loans and leases, net of unearned discount	$ 1,087
Home Equity Lines and Loans [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	35
Pre-modification Recorded Investment	$ 2,150
Loans and leases, net of unearned discount	$ 2,160
Recreational Finance [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	177
Pre-modification Recorded Investment	$ 5,997
Loans and leases, net of unearned discount	$ 5,990
Automobile [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	534
Pre-modification Recorded Investment	$ 10,263
Loans and leases, net of unearned discount	$ 10,233
Other [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	33
Pre-modification Recorded Investment	$ 334
Loans and leases, net of unearned discount	334
Principal Deferral [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	46,178
Principal Deferral [Member] \| Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	6,920
Principal Deferral [Member] \| Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	4,376
Principal Deferral [Member] \| Residential [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	15,443
Principal Deferral [Member] \| Residential Limited Documentation [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	894
Principal Deferral [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	1,988
Principal Deferral [Member] \| Recreational Finance [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	5,990
Principal Deferral [Member] \| Automobile [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	10,233
Principal Deferral [Member] \| Other [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	334
Other [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	2,155
Other [Member] \| Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	54
Other [Member] \| Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	2,101
Combination of Concession Types [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	13,961
Combination of Concession Types [Member] \| Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	2,780
Combination of Concession Types [Member] \| Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	855
Combination of Concession Types [Member] \| Residential [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	9,961
Combination of Concession Types [Member] \| Residential Limited Documentation [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	193
Combination of Concession Types [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	$ 172

Acquisition and Divestiture - Summary of Identifiable Assets Acquired, Liabilities Assumed and Preferred Stock Exchanged as of Acquisition (Parenthetical) (Details)	Apr. 01, 2022 shares
Peoples United Financial Inc [Member]
Business Acquisition [Line Items]
Common shares issued, Shares	50,325,004

Shareholders' Equity - Issued and Outstanding Preferred Stock (Parenthetical) (Detail) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, liquidation preference per share	$ 25	$ 25

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	May 01, 2023
Document Information [Line Items]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	This Amendment No. 1 amends M&T Bank Corporation’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023, which was filed on May 5, 2023. This Amendment No. 1 is being filed on May 15, 2023 solely for the purpose of correcting a typographical error in Item 1, note 12 of Notes to Financial Statements – Fair Value Measurements in the table included within the "Disclosures of fair value of financial instruments" section on page 38. The estimated fair value of time deposits in the table presenting the carrying amounts and estimated fair value, in thousands, for financial instrument assets (liabilities) as of March 31, 2023 was incorrectly presented without parentheses. The parentheses have been added for time deposits in both the Estimated Fair Value column and the Level 2 column and correctly presented as $(12,808,615) in each column. Except for these corrections, there have been no changes in any of the financial information or other information contained in the original Form 10-Q. This Amendment No. 1 speaks as of the original filing date of the Form 10-Q and does not reflect events that may have occurred subsequent to the original filing date.
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Registrant Name	M&T BANK CORPORATION
Entity Central Index Key	0000036270
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		165,869,832
Entity File Number	1-9861
Entity Tax Identification Number	16-0968385
Entity Incorporation, State or Country Code	NY
Entity Address, Address Line One	One M & T Plaza
Entity Address, Postal Zip Code	14203
Entity Address, City or Town	Buffalo
Entity Address, State or Province	NY
City Area Code	716
Local Phone Number	635-4000
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	MTB
Title of 12(b) Security	Common Stock, $.50 par value
Security Exchange Name	NYSE
Series H Preferred Stock [Member]
Document Information [Line Items]
Trading Symbol	MTBPrH
Title of 12(b) Security	Perpetual Fixed-to-Floating RateNon-Cumulative Preferred Stock, Series H
Security Exchange Name	NYSE

Loans and Leases and the Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Loans And Leases Receivable [Line Items]
Amount of foreclosed residential real estate property held	$ 45	$ 41
Loans secured by residential real estate that were in the process of foreclosure	$ 194	201
Percentage loans in the process of foreclosure, serviced by other entities, classified as government guaranteed	44.00%
Minimum [Member]
Loans And Leases Receivable [Line Items]
Loan delinquent period	90 days
Maximum [Member]
Loans And Leases Receivable [Line Items]
Loan delinquent period	150 days
Commercial Real Estate [Member] \| Asset Pledged as Collateral without Right [Member]
Loans And Leases Receivable [Line Items]
Loans pledged to secure outstanding borrowings	$ 16,500
Commercial Real Estate [Member] \| Asset Pledged as Collateral without Right [Member] \| FHLBs Facility [Member]
Loans And Leases Receivable [Line Items]
Pledged financial instruments		16,300
Residential Mortgage Loans [Member] \| Asset Pledged as Collateral without Right [Member]
Loans And Leases Receivable [Line Items]
Loans pledged to secure outstanding borrowings	19,500
Residential Mortgage Loans [Member] \| Asset Pledged as Collateral without Right [Member] \| FHLBs Facility [Member]
Loans And Leases Receivable [Line Items]
Pledged financial instruments		19,500
Residential Mortgage Loans [Member] \| One-to-Four Family Residential [Member]
Loans And Leases Receivable [Line Items]
Mortgage loans held for sale	152	32
Commercial Real Estate Loans [Member] \| One-to-Four Family Residential [Member]
Loans And Leases Receivable [Line Items]
Mortgage loans held for sale	321	131
Commercial Loans and Leases [Member] \| Asset Pledged as Collateral without Right [Member]
Loans And Leases Receivable [Line Items]
Loans pledged to secure outstanding borrowings	11,600
Commercial Loans and Leases [Member] \| Asset Pledged as Collateral without Right [Member] \| FHLBs Facility [Member]
Loans And Leases Receivable [Line Items]
Pledged financial instruments		10,500
Home Equity Loans and Lines of Credit [Member] \| Asset Pledged as Collateral without Right [Member]
Loans And Leases Receivable [Line Items]
Loans pledged to secure outstanding borrowings	2,400
Home Equity Loans and Lines of Credit [Member] \| Asset Pledged as Collateral without Right [Member] \| FHLBs Facility [Member]
Loans And Leases Receivable [Line Items]
Pledged financial instruments		2,400
Other Consumer Loans [Member] \| Asset Pledged as Collateral without Right [Member]
Loans And Leases Receivable [Line Items]
Loans pledged to secure outstanding borrowings	$ 11,100
Other Consumer Loans [Member] \| Asset Pledged as Collateral without Right [Member] \| FHLBs Facility [Member]
Loans And Leases Receivable [Line Items]
Pledged financial instruments		$ 10,700
Commercial Loans [Member]
Loans And Leases Receivable [Line Items]
Weighted-average remaining term	1 year 1 month 6 days
Commercial Real Estate Loans [Member]
Loans And Leases Receivable [Line Items]
Weighted-average remaining term	1 year 2 months 12 days
Commercial Loans and Commercial Real Estate [Member] \| Minimum [Member]
Loans And Leases Receivable [Line Items]
Amount of real estate loan as reported as accruing or nonaccruing	$ 1
Residential Real Estate Loans [Member]
Loans And Leases Receivable [Line Items]
Weighted-average remaining term	9 years 1 month 6 days

Earnings per common share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings per common share

8. Earnings per common share

The computations of basic earnings per common share follow:


	Three Months Ended March 31
	2023			2022
	(In thousands, except per share)

Income available to common shareholders:
Net income	$	701,624		$	362,174
Less: Preferred stock dividends		(24,941	)		(21,765	)
Net income available to common equity		676,683			340,409
Less: Income attributable to unvested stock-based compensation awards		(1,175	)		(820	)
Net income available to common shareholders	$	675,508		$	339,589
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		168,010			129,274
Less: Unvested stock-based compensation awards		(278	)		(329	)
Weighted-average shares outstanding		167,732			128,945

Basic earnings per common share	$	4.03		$	2.63

The computations of diluted earnings per common share follow:


	Three Months Ended March 31
	2023			2022
	(In thousands, except per share)

Net income available to common equity	$	676,683		$	340,409
Less: Income attributable to unvested stock-based compensation awards		(1,172	)		(819	)
Net income available to common shareholders	$	675,511		$	339,590
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		168,010			129,274
Less: Unvested stock-based compensation awards		(278	)		(329	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock		678			471
Adjusted weighted-average shares outstanding		168,410			129,416

Diluted earnings per common share	$	4.01		$	2.62

GAAP defines unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) as participating securities that shall be included in the computation of earnings per common share pursuant to the two-class method. The Company has issued stock-based compensation awards in the form of restricted stock and restricted stock units which, in accordance with GAAP, are considered participating securities.

8. Earnings per common share, continued

Stock-based compensation awards to purchase common stock of M&T representing 1,367,054 common shares and 114,226 common shares during the three months ended March 31, 2023 and 2022, respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive.

Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Notional Amount	$ 15,200,000	$ 17,400,000
Forward-Starting Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Notional Amount	3,000,000	4,700,000
Fair Value Hedges [Member]
Derivative [Line Items]
Impact of estimated fair value gain (losses) on hedging instruments	(59,100)	65,000
Cash Flow Hedges [Member]
Derivative [Line Items]
Impact of estimated fair value gain (losses) on hedging instruments	$ (232,600)	$ 329,700

Fair Value Measurements - Changes in Level 3 Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) - Fair Value Measurements, Recurring [Member] - Significant Unobservable Inputs (Level 3) [Member] - Other Assets and Other Liabilities [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ (45,573)	$ 6,440
Total gains realized/unrealized:
Included in earnings	$ 17,351	$ (18,700)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue From Contract With Customer Including Assessed Tax	Revenue From Contract With Customer Including Assessed Tax
Transfers out of Level 3	$ 81	$ (3,168)
Ending Balance	(28,141)	(15,428)
Changes in unrealized (losses) gains included in earnings related to instruments still held at end of period	$ 17,386	$ (13,219)

Comprehensive income

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Comprehensive income

9. Comprehensive income

The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income:


	Investment			Defined Benefit						Total Amount				Income
	Securities			Plans			Other			Before Tax				Tax			Net
	(In thousands)

Balance — January 1, 2023	$	(444,192	)		(272,856	)		(349,129	)	$	(1,066,177	)			276,147		$	(790,030	)
Other comprehensive income (loss) before reclassifications:
Unrealized holding gains, net		89,198			—			—			89,198				(24,058	)		65,140
Foreign currency translation adjustment		—			—			1,807			1,807				(613	)		1,194
Unrealized gains on cash flow hedges		—			—			51,038			51,038				(13,503	)		37,535
Total other comprehensive income (loss) before reclassifications		89,198			—			52,845			142,043				(38,174	)		103,869
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Accretion of net gain on terminated cash flow hedges		—			—			(30	)		(30	)	(b)		8			(22	)
Net yield adjustment from cash flow hedges currently in effect		—			—			59,039			59,039		(a)		(15,619	)		43,420
Amortization of prior service credit		—			(475	)		—			(475	)	(c)		(51	)		(526	)
Amortization of actuarial losses		—			(1,550	)		—			(1,550	)	(c)		(166	)		(1,716	)
Total other comprehensive income (loss)		89,198			(2,025	)		111,854			199,027				(54,002	)		145,025
Balance — March 31, 2023	$	(354,994	)		(274,881	)		(237,275	)	$	(867,150	)			222,145		$	(645,005	)


Balance — January 1, 2022	$	104,691			(360,276	)		83,531		$	(172,054	)			44,476		$	(127,578	)
Other comprehensive income (loss) before reclassifications:
Unrealized holding losses, net		(184,955	)		—			—			(184,955	)			47,758			(137,197	)
Foreign currency translation adjustment		—			—			(2,123	)		(2,123	)			475			(1,648	)
Unrealized losses on cash flow hedges		—			—			(115,724	)		(115,724	)			29,885			(85,839	)
Total other comprehensive income (loss) before reclassifications		(184,955	)		—			(117,847	)		(302,802	)			78,118			(224,684	)
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Amortization of unrealized holding losses on held-to-maturity securities		1,119			—			—			1,119		(a)		(289	)		830
Accretion of net gain on terminated cash flow hedges		—			—			(30	)		(30	)	(b)		9			(21	)
Net yield adjustment from cash flow hedges currently in effect		—			—			(38,019	)		(38,019	)	(a)		9,818			(28,201	)
Amortization of prior service credit		—			(950	)		—			(950	)	(c)		305			(645	)
Amortization of actuarial losses		—			4,300			—			4,300		(c)		(1,386	)		2,914
Total other comprehensive income (loss)		(183,836	)		3,350			(155,896	)		(336,382	)			86,575			(249,807	)
Balance — March 31, 2022	$	(79,145	)		(356,926	)		(72,365	)	$	(508,436	)			131,051		$	(377,385	)

(a)

Included in interest income.

(b)

Included in interest expense.

(c)

Included in other costs of operations.

Accumulated other comprehensive income (loss), net consisted of the following:


				Defined
	Investment			Benefit
	Securities			Plans			Other			Total
	(In thousands)

Balance — December 31, 2022	$	(329,168	)	$	(202,186	)	$	(258,676	)	$	(790,030	)
Net gain (loss) during period		65,140			(2,242	)		82,127			145,025
Balance — March 31, 2023	$	(264,028	)	$	(204,428	)	$	(176,549	)	$	(645,005	)

Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investment securities, available for sale, amortized cost	$ 11,393,916	$ 11,193,152
Investment securities, held to maturity, fair value	15,204,461	12,375,420
Equity and other securities, cost	$ 1,204,957	$ 933,766
Preferred stock, par value	$ 1.00	$ 1.00
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	10,000,000	10,000,000
Preferred stock, liquidation preference per share	$ 25	$ 25
Common stock, par value	$ 0.50	$ 0.50
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	179,436,779	179,436,779
Common stock issuable, shares	11,998	14,031
Treasury stock, common shares	13,583,874	10,165,419
Series A Series C Series And E Preferred Stock [Member]
Preferred stock, shares issued	350,000	350,000
Preferred stock, shares outstanding	350,000	350,000
Preferred stock, liquidation preference per share	$ 1,000	$ 1,000
Series F And Series G Preferred Stock [Member]
Preferred stock, shares issued	140,000	140,000
Preferred stock, shares outstanding	140,000	140,000
Preferred stock, liquidation preference per share	$ 10,000	$ 10,000

Loans and leases and the allowance for credit losses

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Loans and leases and the allowance for credit losses

4. Loans and leases and the allowance for credit losses

A summary of current, past due and nonaccrual loans as of March 31, 2023 and December 31, 2022 follows:


	Current		30-89 Days Past Due		Accruing Loans Past Due 90 Days or More		Nonaccrual		Total
	(In thousands)
March 31, 2023
Commercial, financial, leasing, etc.	$	42,825,221	$	489,322	$	61,550	$	382,268	$	43,758,361
Real estate:
Commercial		35,250,019		399,114		37,137		1,516,655		37,202,925
Residential builder and developer		1,126,693		111,894		—		3,303		1,241,890
Other commercial construction		6,231,642		242,226		10,843		143,015		6,627,726
Residential		21,726,963		496,225		292,950		253,646		22,769,784
Residential — limited documentation		925,180		26,046		—		68,935		1,020,161
Consumer:
Home equity lines and loans		4,751,822		26,679		—		80,766		4,859,267
Recreational finance		9,066,587		48,448		—		34,186		9,149,221
Automobile		4,249,035		35,270		—		26,842		4,311,147
Other		1,928,364		16,686		4,977		47,183		1,997,210
Total	$	128,081,526	$	1,891,910	$	407,457	$	2,556,799	$	132,937,692

December 31, 2022
Commercial, financial, leasing, etc.	$	40,982,398	$	448,462	$	72,502	$	347,204	$	41,850,566
Real estate:
Commercial		34,972,627		311,188		67,696		1,396,662		36,748,173
Residential builder and developer		1,304,798		8,703		—		1,229		1,314,730
Other commercial construction		6,936,661		239,521		549		124,937		7,301,668
Residential		21,491,506		595,897		345,402		272,090		22,704,895
Residential — limited documentation		950,782		22,456		—		77,814		1,051,052
Consumer:
Home equity lines and loans		4,891,311		30,787		—		84,788		5,006,886
Recreational finance		8,974,171		54,593		—		44,630		9,073,394
Automobile		4,393,206		44,486		—		39,584		4,477,276
Other		1,958,196		22,961		4,869		49,497		2,035,523
Total	$	126,855,656	$	1,779,054	$	491,018	$	2,438,435	$	131,564,163

4. Loans and leases and the allowance for credit losses, continued

One-to-four family residential mortgage loans held for sale were $152 million and $32 million at March 31, 2023 and December 31, 2022, respectively. Commercial real estate loans held for sale were $321 million at March 31, 2023 and $131 million at December 31, 2022.

Credit quality indicators

The Company utilizes a loan grading system to differentiate risk amongst its commercial loans and commercial real estate loans. Loans with a lower expectation of default are assigned one of ten possible “pass” loan grades and are generally ascribed lower loss factors when determining the allowance for credit losses. Loans with an elevated level of credit risk are classified as “criticized” and are ascribed a higher loss factor when determining the allowance for credit losses. Criticized loans may be classified as “nonaccrual” if the Company no longer expects to collect all amounts according to the contractual terms of the loan agreement or the loan is delinquent 90 days or more.

Line of business personnel in different geographic locations with support from and review by the Company’s credit risk personnel review and reassign loan grades based on their detailed knowledge of individual borrowers and their judgment of the impact on such borrowers resulting from changing conditions in their respective regions. Factors considered in assigning loan grades include borrower-specific information related to expected future cash flows and operating results, collateral values, geographic location, financial condition and performance, payment status, and other information. The Company’s policy is that at least annually, updated financial information be obtained from commercial borrowers associated with pass grade loans and additional analysis performed. On a quarterly basis, the Company’s credit personnel review all criticized commercial loans and commercial real estate loans greater than $1 million to determine the appropriateness of the assigned loan grade, including whether the loan should be reported as accruing or nonaccruing.

4. Loans and leases and the allowance for credit losses, continued


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2023		2022		2021		2020		2019		Prior		Loans		Loans		Total
	(In thousands)
Commercial, financial, leasing, etc.:
Loan grades:
Pass	$	2,250,004		8,170,214		4,708,911		1,809,434		1,606,622		2,562,970		20,254,352		42,666	$	41,405,173
Criticized accrual		42,754		280,361		271,872		190,293		134,573		305,353		726,296		19,418		1,970,920
Criticized nonaccrual		258		24,490		44,960		32,392		27,903		92,676		152,114		7,475		382,268
Total commercial, financial, leasing, etc.	$	2,293,016		8,475,065		5,025,743		2,032,119		1,769,098		2,960,999		21,132,762		69,559	$	43,758,361
Gross charge-offs	$	107		4,104		3,405		2,753		2,303		5,557		773		—	$	19,002

Real estate:
Commercial:
Loan grades:
Pass	$	1,325,649		3,942,090		3,262,243		3,261,936		4,618,336		13,821,937		765,232		—	$	30,997,423
Criticized accrual		2,491		385,474		463,714		344,587		800,868		2,662,161		29,552		—		4,688,847
Criticized nonaccrual		—		27,340		26,015		260,829		247,845		932,736		21,890		—		1,516,655
Total commercial real estate	$	1,328,140		4,354,904		3,751,972		3,867,352		5,667,049		17,416,834		816,674		—	$	37,202,925
Gross charge-offs	$	—		—		—		—		26,390		2,478		—		—	$	28,868

Residential builder and developer:
Loan grades:
Pass	$	83,843		602,093		175,624		11,345		18,198		14,911		120,680		—	$	1,026,694
Criticized accrual		987		8,381		25,225		4,161		113,186		30,928		29,025		—		211,893
Criticized nonaccrual		—		1		720		—		518		2,064		—		—		3,303
Total residential builder and developer	$	84,830		610,475		201,569		15,506		131,902		47,903		149,705		—	$	1,241,890
Gross charge-offs	$	—		—		—		—		—		11		1,506		—	$	1,517

Other commercial construction:
Loan grades:
Pass	$	155,587		1,193,762		1,064,242		1,125,568		873,449		370,721		28,802		—	$	4,812,131
Criticized accrual		196		26,116		124,624		325,712		796,275		399,657		—		—		1,672,580
Criticized nonaccrual		—		—		9,976		43,194		61,154		26,265		2,426		—		143,015
Total other commercial construction	$	155,783		1,219,878		1,198,842		1,494,474		1,730,878		796,643		31,228		—	$	6,627,726
Gross charge-offs	$	—		—		—		—		—		—		—		—	$	—

4. Loans and leases and the allowance for credit losses, continued

The Company considers repayment performance a significant indicator of credit quality for its residential real estate loan and consumer loan portfolios. A summary of loans in accrual and nonaccrual status at March 31, 2023 for the various classes of the Company’s residential real estate loans and consumer loans and gross charge-offs for those types of loans for the three months ended March 31, 2023 by origination year follows.


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2023		2022		2021		2020		2019		Prior		Loans		Loans		Total
	(In thousands)
Residential:
Current	$	497,138		5,056,599		3,968,015		2,722,670		1,360,032		8,098,258		24,251		—	$	21,726,963
30-89 days past due		1,408		55,995		50,487		25,710		19,711		340,852		2,062		—		496,225
Accruing loans past due 90 days or more		—		14,957		28,430		17,231		11,726		220,606		—		—		292,950
Nonaccrual		—		7,087		12,270		2,528		8,859		216,014		6,888		—		253,646
Total residential	$	498,546		5,134,638		4,059,202		2,768,139		1,400,328		8,875,730		33,201		—	$	22,769,784
Gross charge-offs	$	—		75		115		21		68		1,286		—		—	$	1,565

Residential - limited documentation:
Current	$	—		—		—		—		—		925,180		—		—	$	925,180
30-89 days past due		—		—		—		—		—		26,046		—		—		26,046
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		68,935		—		—		68,935
Total residential - limited documentation	$	—		—		—		—		—		1,020,161		—		—	$	1,020,161
Gross charge-offs	$	—		—		—		—		—		136		—		—	$	136

Consumer:
Home equity lines and loans:
Current	$	172		33		2,007		2,265		15,068		113,605		3,138,593		1,480,079	$	4,751,822
30-89 days past due		—		—		10		55		26		1,563		—		25,025		26,679
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		15		—		65		8,110		1,880		70,696		80,766
Total home equity lines and loans	$	172		33		2,032		2,320		15,159		123,278		3,140,473		1,575,800	$	4,859,267
Gross charge-offs	$	—		—		—		—		—		31		1,298		704	$	2,033

Recreational finance:
Current	$	521,520		2,711,445		2,171,200		1,511,470		918,584		1,232,368		—		—	$	9,066,587
30-89 days past due		280		8,378		9,892		9,833		7,475		12,590		—		—		48,448
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		2,875		6,473		7,112		5,256		12,470		—		—		34,186
Total recreational finance	$	521,800		2,722,698		2,187,565		1,528,415		931,315		1,257,428		—		—	$	9,149,221
Gross charge-offs	$	—		2,369		3,013		2,985		2,412		4,042		—		—	$	14,821

Automobile:
Current	$	253,110		1,414,115		1,419,830		625,620		328,506		207,854		—		—	$	4,249,035
30-89 days past due		397		6,688		10,828		5,844		5,330		6,183		—		—		35,270
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		2,669		8,430		4,674		4,445		6,624		—		—		26,842
Total automobile	$	253,507		1,423,472		1,439,088		636,138		338,281		220,661		—		—	$	4,311,147
Gross charge-offs	$	—		1,636		2,068		1,169		957		881		—		—	$	6,711

Other:
Current		72,524		246,430		156,659		51,040		31,557		26,567		1,337,730		5,857		1,928,364
30-89 days past due	$	2,119		1,617		1,336		198		272		555		10,045		544	$	16,686
Accruing loans past due 90 days or more		—		—		—		—		—		198		4,779		—		4,977
Nonaccrual		1,711		588		535		195		149		258		43,631		116		47,183
Total other	$	76,354		248,635		158,530		51,433		31,978		27,578		1,396,185		6,517	$	1,997,210
Gross charge-offs	$	912		8,657		2,735		1,395		1,581		4,986		20		—	$	20,286

Total loans and leases at March 31, 2023	$	5,212,148		24,189,798		18,024,543		12,395,896		12,015,988		32,747,215		26,700,228		1,651,876	$	132,937,692
Total gross charge-offs for the three months ended March 31, 2023	$	1,019		16,841		11,336		8,323		33,711		19,408		3,597		704	$	94,939

4. Loans and leases and the allowance for credit losses, continued

The following table summarizes the loan grades applied at December 31, 2022 to the various classes of the Company’s commercial loans and commercial real estate loans by origination year.


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2022		2021		2020		2019		2018		Prior		Loans		Loans		Total
	(In thousands)
Commercial, financial, leasing, etc.:
Loan grades:
Pass	$	8,575,130		4,952,758		2,024,603		1,796,047		817,569		1,970,947		19,444,247		40,471	$	39,621,772
Criticized accrual		247,626		222,861		190,368		116,881		71,485		246,846		768,497		17,026		1,881,590
Criticized nonaccrual		18,379		52,067		37,608		36,241		35,689		59,146		100,972		7,102		347,204
Total commercial, financial, leasing, etc.	$	8,841,135		5,227,686		2,252,579		1,949,169		924,743		2,276,939		20,313,716		64,599	$	41,850,566

Real estate:
Commercial:
Loan grades:
Pass	$	4,136,890		3,379,900		3,388,590		4,557,065		3,293,380		10,905,956		869,981		—	$	30,531,762
Criticized accrual		324,652		463,484		467,557		688,239		937,421		1,890,297		48,099		—		4,819,749
Criticized nonaccrual		11,541		22,459		183,986		297,106		170,382		688,079		23,109		—		1,396,662
Total commercial real estate	$	4,473,083		3,865,843		4,040,133		5,542,410		4,401,183		13,484,332		941,189		—	$	36,748,173

Residential builder and developer:
Loan grades:
Pass	$	680,705		230,079		11,280		22,111		12,812		9,865		150,404		—	$	1,117,256
Criticized accrual		2,969		28,472		9,952		108,968		15,069		—		30,815		—		196,245
Criticized nonaccrual		57		654		—		518		—		—		—		—		1,229
Total residential builder and developer	$	683,731		259,205		21,232		131,597		27,881		9,865		181,219		—	$	1,314,730

Other commercial construction:
Loan grades:
Pass	$	1,032,774		1,080,141		1,225,845		1,185,685		366,686		297,355		15,575		—	$	5,204,061
Criticized accrual		37,893		145,199		320,463		1,025,371		299,350		144,394		—		—		1,972,670
Criticized nonaccrual		—		9,992		44,037		35,841		10,542		22,099		2,426		—		124,937
Total other commercial construction	$	1,070,667		1,235,332		1,590,345		2,246,897		676,578		463,848		18,001		—	$	7,301,668

4. Loans and leases and the allowance for credit losses, continued

A summary of loans in accrual and nonaccrual status at December 31, 2022 for the various classes of the Company’s residential real estate loans and consumer loans by origination year follows.


	Term Loans by Origination Year												Revolving		Revolving Loans Converted to Term
	2022		2021		2020		2019		2018		Prior		Loans		Loans		Total
	(In thousands)
Residential:
Current	$	5,071,379		4,001,652		2,717,371		1,392,866		753,908		7,523,890		30,440		—	$	21,491,506
30-89 days past due		59,477		51,308		40,337		21,849		23,126		399,301		499		—		595,897
Accruing loans past due 90 days or more		12,012		39,934		20,067		14,050		14,007		245,332		—		—		345,402
Nonaccrual		5,686		10,865		2,583		9,860		4,650		231,093		7,353		—		272,090
Total residential	$	5,148,554		4,103,759		2,780,358		1,438,625		795,691		8,399,616		38,292		—	$	22,704,895

Residential - limited documentation:
Current	$	—		—		—		—		—		950,782		—		—	$	950,782
30-89 days past due		—		—		—		—		—		22,456		—		—		22,456
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		77,814		—		—		77,814
Total residential - limited documentation	$	—		—		—		—		—		1,051,052		—		—	$	1,051,052

Consumer:
Home equity lines and loans:
Current	$	930		2,109		2,441		15,361		23,321		97,282		3,262,533		1,487,334	$	4,891,311
30-89 days past due		—		—		—		171		126		2,030		—		28,460		30,787
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		15		—		536		334		6,458		2,799		74,646		84,788
Total home equity lines and loans	$	930		2,124		2,441		16,068		23,781		105,770		3,265,332		1,590,440	$	5,006,886

Recreational finance:
Current	$	2,842,091		2,280,627		1,587,629		963,907		486,964		812,953		—		—	$	8,974,171
30-89 days past due		8,648		9,525		12,412		8,387		5,202		10,419		—		—		54,593
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		3,533		7,440		9,427		7,625		5,344		11,261		—		—		44,630
Total recreational finance	$	2,854,272		2,297,592		1,609,468		979,919		497,510		834,633		—		—	$	9,073,394

Automobile:
Current	$	1,491,076		1,557,676		702,711		378,962		167,438		95,343		—		—	$	4,393,206
30-89 days past due		6,926		13,324		7,284		7,239		5,464		4,249		—		—		44,486
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		2,493		10,698		7,372		7,520		5,620		5,881		—		—		39,584
Total automobile	$	1,500,495		1,581,698		717,367		393,721		178,522		105,473		—		—	$	4,477,276

Other:
Current	$	274,530		172,238		58,339		38,439		8,217		23,163		1,375,049		8,221	$	1,958,196
30-89 days past due		3,783		1,450		326		386		141		569		15,655		651		22,961
Accruing loans past due 90 days or more		—		—		—		—		—		226		4,643		—		4,869
Nonaccrual		2,745		830		332		371		120		465		44,449		185		49,497
Total other	$	281,058		174,518		58,997		39,196		8,478		24,423		1,439,796		9,057	$	2,035,523

Total loans and leases at December 31, 2022	$	24,853,925		18,747,757		13,072,920		12,737,602		7,534,367		26,755,951		26,197,545		1,664,096	$	131,564,163

4. Loans and leases and the allowance for credit losses, continued

Allowance for credit losses

For purposes of determining the level of the allowance for credit losses, the Company evaluates its loan and lease portfolio by type. Changes in the allowance for credit losses for the three months ended March 31, 2023 and 2022 were as follows:


	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Total
	(In thousands)
Three Months Ended March 31, 2023
Beginning balance	$	502,153			676,684			115,092			631,402		$	1,925,331
Provision for credit losses		12,187			95,992			(1,522	)		13,343			120,000
Net charge-offs
Charge-offs		(19,002	)		(30,385	)		(1,701	)		(43,851	)		(94,939	)
Recoveries		9,441			1,330			1,323			12,624			24,718
Net charge-offs		(9,561	)		(29,055	)		(378	)		(31,227	)		(70,221	)
Ending balance	$	504,779			743,621			113,192			613,518		$	1,975,110


	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Total
	(In thousands)
Three Months Ended March 31, 2022
Beginning balance	$	283,899			557,239			71,726			556,362		$	1,469,226
Provision for credit losses		28,725			(30,938	)		1,720			10,493			10,000
Net charge-offs
Charge-offs		(19,234	)		(1,800	)		(3,972	)		(26,032	)		(51,038	)
Recoveries		13,665			14,943			3,107			12,456			44,171
Net (charge-offs) recoveries		(5,569	)		13,143			(865	)		(13,576	)		(6,867	)
Ending balance	$	307,055			539,444			72,581			553,279		$	1,472,359

4. Loans and leases and the allowance for credit losses, continued

Despite the allocation in the preceding tables, the allowance for credit losses is general in nature and is available to absorb losses from any loan or lease type. In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. The Company utilizes statistically developed models to project principal balances over the remaining contractual lives of the loan portfolios and to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators, including loan grade and borrower repayment performance, can inform the models, which have been statistically developed based on historical correlations of credit losses with prevailing economic metrics, including unemployment, gross domestic product and real estate prices. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At each of March 31, 2023 and December 31, 2022, the Company utilized a reasonable and supportable forecast period of two years. Subsequent to this forecast period the Company reverted, ratably over a one-year period, to historical loss experience to inform its estimate of losses for the remaining contractual life of each portfolio. The Company also estimates losses attributable to specific troubled credits identified through both normal and targeted credit review processes. The amounts of specific loss components in the Company’s loan and lease portfolios are determined through a loan-by-loan analysis of larger balance commercial loans and commercial real estate loans that are in nonaccrual status. Such loss estimates are typically based on expected future cash flows, collateral values and other factors that may impact the borrower’s ability to pay. To the extent that those loans are collateral-dependent, they are evaluated based on the fair value of the loan’s collateral as estimated at or near the financial statement date. As the quality of a loan deteriorates to the point of classifying the loan as “criticized,” the process of obtaining updated collateral valuation information is usually initiated, unless it is not considered warranted given factors such as the relative size of the loan, the characteristics of the collateral or the age of the last valuation. In those cases where current appraisals may not yet be available, prior appraisals are utilized with adjustments, as deemed necessary, for estimates of subsequent declines in values as determined by line of business and/or loan workout personnel. Those adjustments are reviewed and assessed for reasonableness by the Company’s credit risk personnel. Accordingly, for real estate collateral securing larger nonaccrual commercial loans and commercial real estate loans, estimated collateral values are based on current appraisals and estimates of value. For non-real estate loans, collateral is assigned a discounted estimated liquidation value and, depending on the nature of the collateral, is verified through field exams or other procedures. In assessing collateral, real estate and non-real estate values are reduced by an estimate of selling costs.

For residential real estate loans, including home equity loans and lines of credit, the excess of the loan balance over the net realizable value of the property collateralizing the loan is charged-off when the loan becomes 150 days delinquent. That charge-off is based on recent indications of value from external parties that are generally obtained shortly after a loan becomes nonaccrual. Loans to consumers that file for bankruptcy are generally charged-off to estimated net collateral value shortly after the Company is notified of such filings. When evaluating individual home equity loans and lines of credit for charge off and for purposes of estimating losses in determining the allowance for credit losses, the Company gives consideration to the required repayment of any first lien positions related to collateral property.

Changes in the amount of the allowance for credit losses reflect the outcome of the procedures described herein, including the impact of changes in macroeconomic forecasts as compared with previous forecasts, as well as the impact of portfolio concentrations, imprecision in economic forecasts, geopolitical conditions and other risk factors that might influence the loss estimation process.

The Company’s reserve for off-balance sheet credit exposures was not material at March 31, 2023 and December 31, 2022.

4. Loans and leases and the allowance for credit losses, continued


	Amortized Cost with Allowance		Amortized Cost without Allowance		Total		Amortized Cost		Interest Income Recognized
	March 31, 2023						January 1, 2023		Three Months Ended March 31, 2023
	(In thousands)
Commercial, financial, leasing, etc.	$	185,867	$	196,401	$	382,268	$	347,204	$	2,279
Real estate:
Commercial		404,564		1,112,091		1,516,655		1,396,662		5,501
Residential builder and developer		3,303		—		3,303		1,229		366
Other commercial construction		94,188		48,827		143,015		124,937		1,662
Residential		124,574		129,072		253,646		272,090		4,376
Residential — limited documentation		40,165		28,770		68,935		77,814		164
Consumer:
Home equity lines and loans		39,131		41,635		80,766		84,788		2,221
Recreational finance		24,409		9,777		34,186		44,630		171
Automobile		22,926		3,916		26,842		39,584		35
Other		47,152		31		47,183		49,497		88
Total	$	986,279	$	1,570,520	$	2,556,799	$	2,438,435	$	16,863

	March 31, 2022						January 1, 2022		Three Months Ended March 31, 2022
	(In thousands)
Commercial, financial, leasing, etc.	$	171,322	$	103,824	$	275,146	$	221,022	$	13,594
Real estate:
Commercial		222,771		934,915		1,157,686		1,069,280		6,131
Residential builder and developer		524		2,392		2,916		3,005		1,428
Other commercial construction		29,914		20,941		50,855		111,405		626
Residential		191,495		150,176		341,671		355,858		6,541
Residential — limited documentation		80,590		42,922		123,512		122,888		196
Consumer:
Home equity lines and loans		32,783		38,706		71,489		70,488		809
Recreational finance		24,350		7,196		31,546		27,811		161
Automobile		30,129		5,221		35,350		34,037		38
Other		43,964		96		44,060		44,289		92
Total	$	827,842	$	1,306,389	$	2,134,231	$	2,060,083	$	29,616

Loan modifications

During the normal course of business, the Company modifies loans to maximize recovery efforts from borrowers experiencing financial difficulty. Such loan modifications typically include payment deferrals and interest rate reductions, but may also include other modified terms. Those modified loans may be considered nonaccrual if the Company does not expect to collect the contractual cash flows owed under the loan agreement. On January 1, 2023 the Company adopted amended guidance that eliminated the accounting guidance for troubled debt restructurings while expanding disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The amended guidance also requires disclosure of current period gross charge-offs by year of origination.

4. Loans and leases and the allowance for credit losses, continued

The table that follows summarizes the Company’s loan modification activities to borrowers experiencing financial difficulty for the three-month period ended March 31, 2023:


	Payment Deferral		Interest Rate Reduction		Other		Combination of Modification Types (a)		Total (b)		Percent of Total Loan Class
	(Dollars in thousands)
Three Months Ended March 31, 2023

Commercial, financial, leasing, etc.	$	43,564	$	—	$	—	$	286	$	43,850		0.10	%
Real estate:
Commercial		120,304		—		—		—		120,304		0.32	%
Residential builder and developer		7,983		—		—		—		7,983		0.64	%
Other commercial construction		91,811		—		—		—		91,811		1.39	%
Residential		32,460		—		—		1,963		34,423		0.15	%
Residential — limited documentation		5,237		—		—		—		5,237		0.51	%
Consumer:
Home equity lines and loans		—		—		—		442		442		0.01	%
Recreational finance		136		—		—		—		136		0.00	%
Automobile		45		—		—		—		45		0.00	%
Other		—		—		—		—		—		—
Total	$	301,540	$	—	$	—	$	2,691	$	304,231		0.23	%

(a)

Predominantly payment deferrals combined with interest rate reductions.

(b)

Includes approximately $23 million of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans).

4. Loans and leases and the allowance for credit losses, continued

Prior to January 1, 2023, if the borrower was experiencing financial difficulty such that the Company did not expect to collect the contractual cash flows owed under the original loan agreement and a concession in loan terms was granted, the Company considered the loan modification as a troubled debt restructuring. The table that follows summarizes the Company’s loan modification activities that were considered troubled debt restructurings for the three-month period ended March 31, 2022. The table is not comparative to the preceding table. The Company no longer designates modified loans as a troubled debt restructuring in conjunction with the adoption of amended accounting guidance on January 1, 2023.


					Post-modification (a)
	Number		Pre- modification Recorded Investment		Principal Deferral		Interest Rate Reduction		Other		Combination of Concession Types		Total
	(Dollars in thousands)

Three Months Ended March 31, 2022

Commercial, financial, leasing, etc.		37	$	10,003	$	6,920	$	—	$	54	$	2,780	$	9,754
Real estate:
Commercial		17		7,582		4,376		—		2,101		855		7,332
Residential		97		24,051		15,443		—		—		9,961		25,404
Residential — limited documentation		5		1,076		894		—		—		193		1,087
Consumer:
Home equity lines and loans		35		2,150		1,988		—		—		172		2,160
Recreational finance		177		5,997		5,990		—		—		—		5,990
Automobile		534		10,263		10,233		—		—		—		10,233
Other		33		334		334		—		—		—		334
Total		935	$	61,456	$	46,178	$	—	$	2,155	$	13,961	$	62,294

_____________________________________________

(a)

The amount of foreclosed property held by the Company, predominantly consisting of residential real estate, was $45 million and $41 million at March 31, 2023 and December 31, 2022, respectively. There were $194 million and $201 million at March 31, 2023 and December 31, 2022, respectively, of loans secured by residential real estate that were in the process of foreclosure. Of all loans in the process of foreclosure at March 31, 2023, approximately 44% were government guaranteed.

The Company pledged certain loans to secure outstanding borrowings and available lines of credit. At March 31, 2023, the Company pledged approximately $11.6 billion of commercial loans and leases, $16.5 billion of commercial real estate loans, $19.5 billion of one-to-four family residential real estate loans, $2.4 billion of home equity loans and lines of credit and $11.1 billion of other consumer loans. At December 31, 2022, the Company pledged approximately $10.5 billion of commercial loans and leases, $16.3 billion of commercial real estate loans, $19.5 billion of one-to-four family residential real estate loans, $2.4 billion of homes equity loans and lines of credit and $10.7 billion of other consumer loans.

Pension plans and other postretirement benefits

3 Months Ended

Mar. 31, 2023

Compensation And Retirement Disclosure [Abstract]

Pension plans and other postretirement benefits

7. Pension plans and other postretirement benefits


	Pension Benefits						Other Postretirement Benefits
	Three Months Ended March 31
	2023			2022			2023			2022
	(In thousands)

Service cost	$	2,723		$	4,271		$	390		$	232
Interest cost on projected benefit obligation		28,835			16,267			744			355
Expected return on plan assets		(50,400	)		(37,150	)		—			—
Amortization of prior service cost (credit)		50			125			(525	)		(1,075	)
Amortization of net actuarial loss (gain)		(900	)		4,625			(650	)		(325	)
Net periodic cost (benefit)	$	(19,692	)	$	(11,862	)	$	(41	)	$	(813	)

7. Pension plans and other postretirement benefits, continued

Service cost is reflected in salaries and employee benefits expense in the consolidated statement of income. The other components of net periodic benefit cost are reflected in other costs of operations. Expenses incurred in connection with the Company's defined contribution pension and retirement savings plans totaled $44 million and $31 million for the three months ended March 31, 2023 and 2022, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt securities available for sale:
Due in one year or less	$ 1,871,549
Due after one year through five years	6,142,735
Due after five years through ten years	50,702
Due after ten years	30,000
Total available for sale (amortized cost)	8,094,986
Mortgage-backed securities available for sale	3,298,930
Investment securities available for sale, amortized cost	11,393,916	$ 11,193,152
Debt securities held to maturity:
Due in one year or less	86,180
Due after one year through five years	1,120,699
Due after five years through ten years	1,143,823
Due after ten years	1,271,794
Total available for held to maturity (amortized cost)	3,622,496
Mortgage-backed securities held to maturity	12,579,075
Amortized cost for held to maturity	16,201,571	13,529,969
Debt securities available for sale:
Due in one year or less	1,824,693
Due after one year through five years	5,999,076
Due after five years through ten years	47,804
Due after ten years	25,450
Total available for sale (fair value)	7,897,023
Mortgage-backed securities available for sale	3,141,899
Total	11,038,922	10,748,961
Debt securities held to maturity:
Due in one year or less	85,572
Due after one year through five years	1,084,851
Due after five years through ten years	1,130,492
Due after ten years	1,213,966
Total available for held to maturity (fair value)	3,514,881
Mortgage-backed securities held to maturity	11,689,580
Total	$ 15,204,461	$ 12,375,420

Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Loan facility carrying amount	$ 7,462,890,000		$ 3,964,537,000
Bayview Lending Group [Member]
Schedule of Equity Method Investments [Line Items]
Carrying value of minority interest investment in Bayview Lending Group LLC	$ 0
Minority interest in Bayview Lending Group LLC	20.00%
Bayview Lending Group [Member] \| Other Revenues From Operations [Member]
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments	$ 20,000,000	$ 30,000,000
Bayview Lending Group and Bayview Financial [Member]
Schedule of Equity Method Investments [Line Items]
Outstanding principal balances of mortgage servicing rights	1,400,000,000		1,400,000,000
Revenue from contract with customer	2,000,000	2,000,000
Bayview Financial [Member]
Schedule of Equity Method Investments [Line Items]
Outstanding principal balances of residential mortgage loans from Bayview Financial	98,000,000,000.0		96,000,000,000.0
Revenues from sub-servicing	32,000,000	$ 42,000,000
Investment securities in held-to-maturity portfolio securitized by Bayview Financial	48,000,000		$ 50,000,000
Bayview Financial [Member] \| Syndicated Loan Facility [Member]
Schedule of Equity Method Investments [Line Items]
Loan facility carrying amount	2,500,000,000
Bayview Financial [Member] \| Syndicated Loan Facility [Member] \| M&T Bank [Member]
Schedule of Equity Method Investments [Line Items]
Loan facility carrying amount	$ 523,000,000

Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	$ 362,945	$ 435,969
Liability Derivatives, Fair Value	1,063,941	1,355,326
Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	302,350	379,868
Liability Derivatives, Fair Value	1,025,299	1,300,184
Fair Value Hedges [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	14,178	4,239
Liability Derivatives, Fair Value	2,195	9,103
Fair Value Hedges [Member] \| Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	46,417	51,862
Liability Derivatives, Fair Value	36,447	46,039
Interest Rate Swap Agreements [Member] \| Fair Value Hedges [Member] \| Derivatives Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	11,354	1,202
Liability Derivatives, Fair Value	104	9,094
Commitments to Sell Real Estate Loans [Member] \| Fair Value Hedges [Member] \| Derivatives Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	2,824	3,037
Liability Derivatives, Fair Value	2,091	9
Commitments to Sell Real Estate Loans [Member] \| Fair Value Hedges [Member] \| Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	39,550	51,410
Liability Derivatives, Fair Value	1,439	14
Mortgage-Related Commitments to Originate Real Estate Loans for Sale [Member] \| Fair Value Hedges [Member] \| Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	6,867	452
Liability Derivatives, Fair Value	35,008	46,025
Interest Rate Contracts [Member] \| Fair Value Hedges [Member] \| Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	280,283	355,806
Liability Derivatives, Fair Value	1,006,264	1,278,180
Foreign Exchange and Other Option and Futures Contracts [Member] \| Fair Value Hedges [Member] \| Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	22,067	24,062
Liability Derivatives, Fair Value	$ 19,035	$ 22,004

Loans and Leases and the Allowance for Credit Losses - Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands		3 Months Ended
	Apr. 01, 2022	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 1,472,359	$ 1,925,331	$ 1,469,226
Provision for credit losses		120,000	10,000
Net charge-offs
Charge-offs	(242,000)	(94,939)	(51,038)
Recoveries		24,718	44,171
Net (charge-offs) recoveries		(70,221)	(6,867)
Ending balance		1,975,110	1,472,359
Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	307,055	502,153	283,899
Provision for credit losses		12,187	28,725
Net charge-offs
Charge-offs		(19,002)	(19,234)
Recoveries		9,441	13,665
Net (charge-offs) recoveries		(9,561)	(5,569)
Ending balance		504,779	307,055
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	539,444	676,684	557,239
Provision for credit losses		95,992	(30,938)
Net charge-offs
Charge-offs		(30,385)	(1,800)
Recoveries		1,330	14,943
Net (charge-offs) recoveries		(29,055)	13,143
Ending balance		743,621	539,444
Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	72,581	115,092	71,726
Provision for credit losses		1,522	1,720
Net charge-offs
Charge-offs		(1,701)	(3,972)
Recoveries		1,323	3,107
Net (charge-offs) recoveries		(378)	(865)
Ending balance		113,192	72,581
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 553,279	631,402	556,362
Provision for credit losses		13,343	10,493
Net charge-offs
Charge-offs		(43,851)	(26,032)
Recoveries		12,624	12,456
Net (charge-offs) recoveries		(31,227)	(13,576)
Ending balance		$ 613,518	$ 553,279

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Weighted-average discount rates for fair value estimations	34.00%
Historical recovery rate of collateral values of consumer installment loans	57.00%
Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Discount rates for fair value estimations	15.00%
Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Discount rates for fair value estimations	90.00%
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Change in fair value of nonrecurring fair value measured loans for charge-offs and impairment reserves	$ 69,000,000	$ 46,000,000
Significant Unobservable Inputs (Level 3) [Member] \| Residential Mortgage Loans [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Capitalized servicing rights	133,000,000
Capitalized servicing rights, valuation allowance		21,000,000
Valuation Allowances Recorded	0	$ (3,000,000)
Weighted-average prepayment speed		12.42%
Discounted rate represented weighted-average option-adjusted basis spread point percentage		900.00%
Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans measured at fair value on nonrecurring basis	670,000,000	$ 392,000,000	$ 853,000,000
Fair Value, Measurements, Nonrecurring [Member] \| Significant Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans measured at fair value on nonrecurring basis	374,000,000	260,000,000	329,000,000
Fair Value, Measurements, Nonrecurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans measured at fair value on nonrecurring basis	$ 296,000,000	$ 132,000,000	$ 524,000,000

Acquisition and Divestiture - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Apr. 01, 2022	Jun. 30, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Carrying Value			$ 2,010,600		$ 2,010,600
Goodwill			8,490,089		8,490,089
ACL for non-PCD loan and leases	$ 242,000
Initial estimate of expected credit losses	99,000
Assets			202,956,407		200,729,841
Shareholders' equity			25,377,171	$ 17,876,020	25,317,990	$ 17,903,405
Net income (loss)			701,624	362,174
Fiduciary And Trust [Member]
Business Acquisition [Line Items]
Revenue from contract with customer			193,802	169,213
Collective Investment Trust [Member] \| Fiduciary And Trust [Member]
Business Acquisition [Line Items]
Revenue from contract with customer			45,000	42,000
Common Stock [Member]
Business Acquisition [Line Items]
Shareholders' equity			$ 89,718	79,871	$ 89,718	$ 79,871
Subsequent Event [Member] \| Collective Investment Trust [Member] \| Fiduciary And Trust [Member]
Business Acquisition [Line Items]
Gain (loss) on sale of subsidiary, pre-tax		$ 225,000
Peoples United Financial Inc [Member]
Business Acquisition [Line Items]
Business combination, market value	$ 8,400,000
Common stock, price per share	$ 164.66
Assets	$ 60,244,818
Goodwill	3,908,245
Core deposits and other intangible assets	$ 261,000
Peoples United Financial Inc [Member] \| Investment Banking, Legal and Other Services [Member]
Business Acquisition [Line Items]
Merger-related expenses				$ 17,000
Peoples United Financial Inc [Member] \| Core Deposit and Other Intangible Assets [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Amortization period	3 years
Peoples United Financial Inc [Member] \| Core Deposit and Other Intangible Assets [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Amortization period	7 years
Peoples United Financial Inc [Member] \| Common Stock [Member]
Business Acquisition [Line Items]
Common stock issued in transaction	50,325,004
MT [Member]
Business Acquisition [Line Items]
Common stock, price per share	$ 0.118

Borrowings - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Junior subordinated debentures		$ 537,000
Debt Maturity, Start Year		Jan. 01, 2027
Debt Maturity, End Year		Dec. 31, 2033
Description of variable rate basis	Secured Overnight Financing Rate ("SOFR")
Short-term borrowings		$ 6,995,302	$ 3,554,951
Additional borrowing capacity		17,100,000
Available line of credit		15,400,000
Long-term borrowings		$ 7,462,890	$ 3,964,537
5.053% Fixed Rate Senior Notes Due to Mature in January 2034 [Member]
Debt Instrument [Line Items]
Senior notes	$ 1,000,000
Senior notes maturity date	Jan. 31, 2034
Interest rate of debt instrument	5.053%
Variable interest rate of debt instrument	1.85%
4.65% Fixed Rate Senior Notes Due to Mature in January 2026 [Member]
Debt Instrument [Line Items]
Senior notes	$ 1,300,000
Senior notes maturity date	Jan. 31, 2026
Interest rate of debt instrument	4.65%
4.70% Fixed Rate Senior Notes Due to Mature in January 2028 [Member]
Debt Instrument [Line Items]
Senior notes	$ 1,200,000
Senior notes maturity date	Jan. 31, 2028
Interest rate of debt instrument	4.70%

Segment Information - Summary of Segment Information (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Segment Reporting Information [Line Items]
Average total assets	$ 202,599	$ 190,252	$ 151,648
Business Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	7,825	7,597	6,568
Commercial Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	48,222	40,930	26,329
Commercial Real Estate [Member]
Segment Reporting Information [Line Items]
Average total assets	32,171	30,599	23,939
Discretionary Portfolio [Member]
Segment Reporting Information [Line Items]
Average total assets	50,501	42,657	22,899
Residential Mortgage Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	2,605	3,986	6,250
Retail Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	21,421	20,312	18,610
All Other [Member]
Segment Reporting Information [Line Items]
Average total assets	$ 39,854	$ 44,171	$ 47,053

Consolidated Statement of Changes in Shareholders' Equity - USD ($)
$ in Thousands

Total

Preferred Stock [Member]

Common Stock [Member]

Common Stock Issuable [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Accumulated Other Comprehensive Income (Loss), Net [Member]

Treasury Stock [Member]

Beginning balance at Dec. 31, 2021

$ 17,903,405

$ 1,750,000

$ 79,871

$ 1,212

$ 6,635,000

$ 14,646,448

$ (127,578)

$ (5,081,548)

Total comprehensive income

112,367

362,174

(249,807)

Preferred stock cash dividends

^[1]

(21,765)

Stock-based compensation transactions, net

37,869

(138)

(23,341)

(330)

61,678

Common stock cash dividends

(155,856)

Ending balance at Mar. 31, 2022

17,876,020

1,750,000

79,871

1,074

6,611,659

14,830,671

(377,385)

(5,019,870)

Beginning balance at Dec. 31, 2022

25,317,990

2,010,600

89,718

1,112

10,002,891

15,753,978

(790,030)

(1,750,279)

Total comprehensive income

846,649

701,624

145,025

Preferred stock cash dividends

^[1]

(24,941)

Purchases of treasury stock

^[2]

(599,940)

Stock-based compensation transactions, net

^[2]

55,508

(155)

(16,566)

(471)

72,700

Common stock cash dividends

(218,095)

Ending balance at Mar. 31, 2023

$ 25,377,171

$ 2,010,600

$ 89,718

$ 957

$ 9,986,325

$ 16,212,095

$ (645,005)

$ (2,277,519)

[1]

For the three-month period ended March 31, 2023, dividends per preferred share were: Preferred Series E - $16.125; Preferred Series F - $128.125; Preferred Series Preferred Series G - $125.00; Preferred Series H - $0.3516; and Preferred Series I - $87.50. Dividends per preferred share for the three months ended March 31, 2022 were: Preferred Series E - $16.125; Preferred Series F - $128.125; Preferred Series Preferred Series G - $125.00; and Preferred Series I - $94.306.

[2]

Effective January 1, 2023 amounts are inclusive of 1% U.S. government excise taxes receivable or payable.

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI https://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

Acquisition and Divestiture - Summary of Unpaid Principal Balance to Fair Value of PCD Loans and Leases by Portfolio Segment (Parenthetical) (Details) - USD ($) $ in Thousands		3 Months Ended
	Apr. 01, 2022	Mar. 31, 2023	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Charge-offs	$ (242,000)	$ (94,939)	$ (51,038)
PCD Acquired Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Charge-offs	$ (33,000)

Revenue from contracts with customers

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Revenue from contracts with customers

6. Revenue from contracts with customers

The Company generally charges customer accounts or otherwise bills customers upon completion of its services. Typically the Company’s contracts with customers have a duration of one year or less and payment for services is received at least annually, but oftentimes more frequently as services are provided. At March 31, 2023 and December 31, 2022, the Company had $68 million and $74 million, respectively, of amounts receivable related to recognized revenue from the sources in the accompanying tables. Such amounts are classified in accrued interest and other assets in the Company’s consolidated balance sheet. In certain situations the Company is paid in advance of providing services and defers the recognition of revenue until its service obligation is satisfied. At March 31, 2023 and December 31, 2022, the Company had deferred revenue of $45 million and $48 million, respectively, related to the sources in the accompanying tables recorded in accrued interest and other liabilities in the consolidated balance sheet.


	Business Banking		Commercial Banking		Commercial Real Estate		Discretionary Portfolio		Residential Mortgage Banking		Retail Banking		All Other		Total
Three Months Ended March 31, 2023	(In thousands)

Classification in consolidated statement of income

Service charges on deposit accounts	$	19,470		28,473		4,186		—		—		59,452		1,965	$	113,546
Trust income		10		—		—		—		—		—		193,792		193,802
Brokerage services income		—		—		—		—		—		—		24,041		24,041
Other revenues from operations:
Merchant discount and credit card fees		14,258		15,791		1,087		—		—		5,361		305		36,802
Other		—		4,671		1,186		21		340		7,406		1,030		14,654
	$	33,738		48,935		6,459		21		340		72,219		221,133	$	382,845

Three Months Ended March 31, 2022

Classification in consolidated statement of income

Service charges on deposit accounts	$	14,681		25,571		3,478		—		—		56,347		1,430	$	101,507
Trust income		—		—		—		—		—		—		169,213		169,213
Brokerage services income		—		—		—		—		—		—		20,190		20,190
Other revenues from operations:
Merchant discount and credit card fees		12,805		13,459		874		—		—		4,510		107		31,755
Other		—		1,903		2,464		693		1,729		5,099		12,891		24,779
	$	27,486		40,933		6,816		693		1,729		65,956		203,831	$	347,444

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
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-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Loans and Leases and the Allowance for Credit Losses - Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jan. 01, 2022
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	$ 986,279	$ 827,842
Amortized Cost without Allowance	1,570,520	1,306,389
Total	2,556,799	2,134,231
Amortized Cost	2,438,435		$ 2,060,083
Interest Income Recognized	16,863	29,616
Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	185,867	171,322
Amortized Cost without Allowance	196,401	103,824
Total	382,268	275,146
Amortized Cost	347,204		221,022
Interest Income Recognized	2,279	13,594
Commercial [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	404,564	222,771
Amortized Cost without Allowance	1,112,091	934,915
Total	1,516,655	1,157,686
Amortized Cost	1,396,662		1,069,280
Interest Income Recognized	5,501	6,131
Residential Builder and Developer [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	3,303	524
Amortized Cost without Allowance		2,392
Total	3,303	2,916
Amortized Cost	1,229		3,005
Interest Income Recognized	366	1,428
Other Commercial Construction [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	94,188	29,914
Amortized Cost without Allowance	48,827	20,941
Total	143,015	50,855
Amortized Cost	124,937		111,405
Interest Income Recognized	1,662	626
Residential [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	124,574	191,495
Amortized Cost without Allowance	129,072	150,176
Total	253,646	341,671
Amortized Cost	272,090		355,858
Interest Income Recognized	4,376	6,541
Residential Limited Documentation [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	40,165	80,590
Amortized Cost without Allowance	28,770	42,922
Total	68,935	123,512
Amortized Cost	77,814		122,888
Interest Income Recognized	164	196
Home Equity Lines and Loans [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	39,131	32,783
Amortized Cost without Allowance	41,635	38,706
Total	80,766	71,489
Amortized Cost	84,788		70,488
Interest Income Recognized	2,221	809
Recreational Finance [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	24,409	24,350
Amortized Cost without Allowance	9,777	7,196
Total	34,186	31,546
Amortized Cost	44,630		27,811
Interest Income Recognized	171	161
Automobile [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	22,926	30,129
Amortized Cost without Allowance	3,916	5,221
Total	26,842	35,350
Amortized Cost	39,584		34,037
Interest Income Recognized	35	38
Other [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	47,152	43,964
Amortized Cost without Allowance	31	96
Total	47,183	44,060
Amortized Cost	49,497		$ 44,289
Interest Income Recognized	$ 88	$ 92

Investment securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Investment Securities

The amortized cost and estimated fair value of investment securities were as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
March 31, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	7,918,648	$	1,378	$	187,327	$	7,732,699
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		664,788		465		17,059		648,194
Residential		2,634,142		1,011		141,448		2,493,705
Other debt securities		176,338		216		12,230		164,324
		11,393,916		3,070		358,064		11,038,922
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,056,675		—		35,427		1,021,248
Obligations of states and political subdivisions		2,564,095		36		72,224		2,491,907
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		2,027,911		—		106,970		1,920,941
Residential		10,503,208		11,462		796,479		9,718,191
Privately issued		47,956		9,451		6,959		50,448
Other debt securities		1,726		—		—		1,726
		16,201,571		20,949		1,018,059		15,204,461
Total debt securities	$	27,595,487	$	24,019	$	1,376,123	$	26,243,383
Equity and other securities:
Readily marketable equity — at fair value	$	297,461	$	1,821	$	4,062	$	295,220
Other — at cost		907,496		—		—		907,496
Total equity and other securities	$	1,204,957	$	1,821	$	4,062	$	1,202,716

December 31, 2022
Investment securities available for sale:
U.S. Treasury and federal agencies	$	7,913,932	$	200	$	243,172	$	7,670,960
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		594,779		—		20,480		574,299
Residential		2,501,334		65		171,281		2,330,118
Other debt securities		183,107		250		9,773		173,584
		11,193,152		515		444,706		10,748,961
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,054,035		—		45,747		1,008,288
Obligations of states and political subdivisions		2,577,078		4		116,512		2,460,570
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		912,431		—		103,528		808,903
Residential		8,934,918		1,451		891,063		8,045,306
Privately issued		49,742		8,833		7,987		50,588
Other debt securities		1,765		—		—		1,765
		13,529,969		10,288		1,164,837		12,375,420
Total debt securities	$	24,723,121	$	10,803	$	1,609,543	$	23,124,381
Equity and other securities:
Readily marketable equity — at fair value	$	153,283	$	2,120	$	3,945	$	151,458
Other — at cost		780,483		—		—		780,483
Total equity and other securities	$	933,766	$	2,120	$	3,945	$	931,941

Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity

At March 31, 2023, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows:


	Amortized Cost		Estimated Fair Value
	(In thousands)
Debt securities available for sale:
Due in one year or less	$	1,871,549	$	1,824,693
Due after one year through five years		6,142,735		5,999,076
Due after five years through ten years		50,702		47,804
Due after ten years		30,000		25,450
		8,094,986		7,897,023
Mortgage-backed securities available for sale		3,298,930		3,141,899
	$	11,393,916	$	11,038,922
Debt securities held to maturity:
Due in one year or less	$	86,180	$	85,572
Due after one year through five years		1,120,699		1,084,851
Due after five years through ten years		1,143,823		1,130,492
Due after ten years		1,271,794		1,213,966
		3,622,496		3,514,881
Mortgage-backed securities held to maturity		12,579,075		11,689,580
	$	16,201,571	$	15,204,461

Investment Securities in Continuous Unrealized Loss Position

A summary of investment securities that as of March 31, 2023 and December 31, 2022 had been in a continuous unrealized loss position for less than twelve months and those that had been in a continuous unrealized loss position for twelve months or longer follows:


	Less Than 12 Months				12 Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
March 31, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	4,257,631	$	75,505	$	3,251,259	$	111,822
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		615,024		16,985		2,120		74
Residential		660,250		25,055		1,704,875		116,393
Other debt securities		66,072		3,261		92,417		8,969
		5,598,977		120,806		5,050,671		237,258
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,021,248		35,427		—		—
Obligations of states and political subdivisions		576,759		5,041		1,867,537		67,183
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		1,739,336		106,970		—		—
Residential		5,613,759		446,267		2,464,780		350,212
Privately issued		2,039		110		35,380		6,849
		8,953,141		593,815		4,367,697		424,244
Total	$	14,552,118	$	714,621	$	9,418,368	$	661,502

December 31, 2022
Investment securities available for sale:
U.S. Treasury and federal agencies	$	6,706,413	$	183,760	$	841,945	$	59,412
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		574,299		20,480		—		—
Residential		2,295,873		169,489		28,305		1,792
Other debt securities		93,458		3,604		73,280		6,169
		9,670,043		377,333		943,530		67,373
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,008,288		45,747		—		—
Obligations of states and political subdivisions		2,449,420		116,512		—		—
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		808,903		103,528		—		—
Residential		6,292,462		619,403		1,319,300		271,660
Privately issued		—		—		35,661		7,987
		10,559,073		885,190		1,354,961		279,647
Total	$	20,229,116	$	1,262,523	$	2,298,491	$	347,020

Fair Value Measurements - Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	$ 11,038,922	$ 10,748,961
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading account	113,646	117,847
Significant Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading account	51,570
U.S. Treasury and Federal Agencies [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	7,732,699	7,670,960
Commercial Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	648,194	574,299
Residential Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	2,493,705	2,330,118
Other Debt Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	164,324	173,584
Fair Value Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading account	165,216	117,847
Debt Securities, Available-for-Sale		10,748,961
Equity Securities, FV-NI, Current	295,220	151,458
Real estate loans held for sale	473,478	162,393
Other assets	362,945	435,969
Total assets	12,335,781	11,616,628
Other liabilities	1,063,941	1,355,326
Total liabilities	1,063,941	1,355,326
Fair Value Measurements, Recurring [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading account	113,646	117,847
Equity Securities, FV-NI, Current	289,788	145,289
Total assets	403,434	263,136
Fair Value Measurements, Recurring [Member] \| Significant Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading account	51,570
Debt Securities, Available-for-Sale	11,038,922	10,748,961
Equity Securities, FV-NI, Current	5,432	6,169
Real estate loans held for sale	473,478	162,393
Other assets	356,078	435,517
Total assets	11,925,480	11,353,040
Other liabilities	1,028,933	1,309,301
Total liabilities	1,028,933	1,309,301
Fair Value Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other assets	6,867	452
Total assets	6,867	452
Other liabilities	35,008	46,025
Total liabilities	35,008	46,025
Fair Value Measurements, Recurring [Member] \| U.S. Treasury and Federal Agencies [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	7,732,699	7,670,960
Fair Value Measurements, Recurring [Member] \| U.S. Treasury and Federal Agencies [Member] \| Significant Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	7,732,699	7,670,960
Fair Value Measurements, Recurring [Member] \| Commercial Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	648,194	574,299
Fair Value Measurements, Recurring [Member] \| Commercial Mortgage-Backed Securities [Member] \| Significant Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	648,194	574,299
Fair Value Measurements, Recurring [Member] \| Residential Mortgage-Backed Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	2,493,705	2,330,118
Fair Value Measurements, Recurring [Member] \| Residential Mortgage-Backed Securities [Member] \| Significant Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	2,493,705	2,330,118
Fair Value Measurements, Recurring [Member] \| Other Debt Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	164,324	173,584
Fair Value Measurements, Recurring [Member] \| Other Debt Securities [Member] \| Significant Observable Inputs (Level 2) [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	$ 164,324	$ 173,584

Comprehensive Income - Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, before tax	$ (1,066,177)	$ (172,054)
Unrealized holding gains (losses), net, before tax	89,198	(184,955)
Foreign currency translation adjustment, before tax	1,807	(2,123)
Unrealized gain (losses) on cash flow hedges	51,038	(115,724)
Total other comprehensive income (loss) before reclassifications, before tax	142,043	(302,802)
Amortization of unrealized holding losses on held-to-maturity securities		1,119
Accretion of net gain on terminated cash flow hedges, before tax	(30)	(30)
Net yield adjustment from cash flow hedges currently in effect, before tax	59,039	(38,019)
Amortization of prior service credit, before tax	(475)	(950)
Amortization of actuarial losses, before tax	(1,550)	4,300
Total other comprehensive income (loss), before tax	199,027	(336,382)
Ending balance, before tax	(867,150)	(508,436)
Beginning balance, tax	276,147	44,476
Unrealized holding losses, net, tax	(24,058)	47,758
Foreign currency translation adjustment, tax	(613)	475
Unrealized losses on cash flow hedges, tax	(13,503)	29,885
Total other comprehensive income (loss) before reclassifications, tax	(38,174)	78,118
Amortization of unrealized holding losses on held-to-maturity securities, tax		(289)
Accretion of net gain on terminated cash flow hedges, tax	8	9
Net yield adjustment from cash flow hedges currently in effect, tax	(15,619)	9,818
Amortization of prior service credit, tax	(51)	305
Amortization of actuarial losses, tax	(166)	(1,386)
Total other comprehensive income (loss), tax	(54,002)	86,575
Ending balance, tax	222,145	131,051
Beginning balance, net of tax	(790,030)	(127,578)
Unrealized holding losses, net of tax	65,140	(137,197)
Foreign currency translation adjustments, net of tax	1,194	(1,648)
Unrealized losses on cash flow hedges, net of tax	37,535	(85,839)
Total other comprehensive income (loss) before reclassifications, net of tax	103,869	(224,684)
Amortization of unrealized holding losses on held-to-maturity securities		830
Accretion of net gain on terminated cash flow hedges, net of tax	(22)	(21)
Net yield adjustment from cash flow hedges currently in effect, net of tax	43,420	(28,201)
Amortization of prior service credit, net of tax	(526)	(645)
Amortization of actuarial losses, net of tax	(1,716)	2,914
Total other comprehensive income (loss)	145,025	(249,807)
Ending balance, net of tax	(645,005)	(377,385)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, before tax	(272,856)	(360,276)
Amortization of prior service credit, before tax	(475)	(950)
Amortization of actuarial losses, before tax	(1,550)	4,300
Total other comprehensive income (loss), before tax	(2,025)	3,350
Ending balance, before tax	(274,881)	(356,926)
Total other comprehensive income (loss)	(2,242)
Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, before tax	(349,129)	83,531
Foreign currency translation adjustment, before tax	1,807	(2,123)
Unrealized gain (losses) on cash flow hedges	51,038	(115,724)
Total other comprehensive income (loss) before reclassifications, before tax	52,845	(117,847)
Accretion of net gain on terminated cash flow hedges, before tax	(30)	(30)
Net yield adjustment from cash flow hedges currently in effect, before tax	59,039	(38,019)
Total other comprehensive income (loss), before tax	111,854	(155,896)
Ending balance, before tax	(237,275)	(72,365)
Investment Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, before tax	(444,192)	104,691
Unrealized holding gains (losses), net, before tax	89,198	(184,955)
Total other comprehensive income (loss) before reclassifications, before tax	89,198	(184,955)
Amortization of unrealized holding losses on held-to-maturity securities		1,119
Total other comprehensive income (loss), before tax	89,198	(183,836)
Ending balance, before tax	(354,994)	$ (79,145)
Total other comprehensive income (loss)	$ 65,140

Acquisition and Divestiture - Summary of Unpaid Principal Balance to Fair Value of Loans and Leases by Portfolio Segment (Details) - USD ($)
$ in Thousands

Apr. 01, 2022

Mar. 31, 2023

Mar. 31, 2022

Jan. 01, 2022

Accounts, Notes, Loans and Financing Receivable [Line Items]

Unpaid principal balance

$ 2,556,799

$ 2,134,231

Allowance for credit losses at acquisition

$ (2,438,435)

$ (2,060,083)

PCD Acquired Loans [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Unpaid principal balance

^[1]

$ 3,410,506

Allowance for credit losses at acquisition

^[1]

(99,000)

Other discount

(106,814)

Fair value

3,204,692

Non PCD Acquired Loans [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Unpaid principal balance

32,896,454

Other discount

^[2]

(260,498)

Fair value

$ 32,635,956

[1]	The unpaid principal balance and allowance for credit losses at acquisition is net of charge-offs of $33 million recognized on the PCD loans
[2]	Includes approximately $242 million of principal balances not expected to be collected.

Consolidated Statement of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income
Loans and leases, including fees	$ 1,849,656	$ 870,600
Investment securities
Fully taxable	181,587	39,132
Exempt from federal taxes	16,611	50
Deposits at banks	278,417	18,280
Other	714	194
Total interest income	2,326,985	928,256
Interest expense
Savings and interest-checking deposits	277,068	6,747
Time deposits	89,197	1,397
Short-term borrowings	57,776	1
Long-term borrowings	84,680	15,937
Total interest expense	508,721	24,082
Net interest income	1,818,264	904,174
Provision for credit losses	120,000	10,000
Net interest income after provision for credit losses	1,698,264	894,174
Other income
Brokerage services income	24,041	20,190
Trading account and other non-hedging derivative gains	11,675	5,369
Gain (loss) on bank investment securities	(416)	(743)
Other revenues from operations	159,500	136,203
Total other income	587,133	540,887
Other expense
Salaries and employee benefits	807,942	577,520
Equipment and net occupancy	126,904	85,812
Outside data processing and software	105,780	79,719
FDIC assessments	29,758	15,576
Advertising and marketing	31,063	16,024
Printing, postage and supplies	14,183	10,150
Amortization of core deposit and other intangible assets	17,208	1,256
Other costs of operations	226,392	173,684
Total other expense	1,359,230	959,741
Income before taxes	926,167	475,320
Income taxes	224,543	113,146
Net income	701,624	362,174
Net income available to common shareholders
Basic	675,508	339,589
Diluted	$ 675,511	$ 339,590
Net income per common share
Basic	$ 4.03	$ 2.63
Diluted	$ 4.01	$ 2.62
Average common shares outstanding
Basic	167,732	128,945
Diluted	168,410	129,416
Mortgage Banking Revenues [Member]
Other income
Revenue from contract with customer	$ 84,985	$ 109,148
Service Charges on Deposit Accounts [Member]
Other income
Revenue from contract with customer	113,546	101,507
Trust Income [Member]
Other income
Revenue from contract with customer	$ 193,802	$ 169,213

Loans and Leases and the Allowance for Credit Losses - Loan Modification Activities to Borrowers Experiencing Financial Difficulty on Financing Receivables (Parenthetical) (Detail)
$ in Thousands

3 Months Ended

Mar. 31, 2023

USD ($)

Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items]

Financing receivable, modifications other than troubled debt restructuring

$ 304,231

^[1]

Guaranteed by Government-Related Entities [Member]

Financing Receivable, Modifications other than Troubled Debt Restructuring [Line Items]

Financing receivable, modifications other than troubled debt restructuring

$ 23,000

[1]	Includes approximately $23 million of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans).

Recent accounting developments

3 Months Ended

Mar. 31, 2023

Accounting Changes And Error Corrections [Abstract]

Recent accounting developments

16. Recent accounting developments

The following table provides a description of accounting standards that were adopted by the Company in 2023 as well as standards that are not effective that could have an impact to M&T’s consolidated financial statements upon adoption.


Standard	Description	Required date of adoption	Effect on consolidated financial statements
Standards Adopted in 2023
Accounting for Contract Assets and Contract Liabilities from Contracts with Customers in a Business Combination	The amendments require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with specified revenue recognition guidance. At the acquisition date, an acquirer should account for the related revenue contracts as if it had originated the contracts and may assess how the acquiree applied the revenue guidance to determine what to record for such contracts. The guidance is generally expected to result in an acquirer recognizing and measuring the acquired contract assets and contract liabilities consistent with how they were recognized and measured in the acquiree’s financial statements.	January 1, 2023	The Company adopted the amended guidance effective January 1, 2023 using a prospective transition method and the guidance will be applied, as applicable, to future acquisitions. The Company does not expect the guidance will have a material impact on its consolidated financial statements.
Fair Value Hedging of Multiple Hedge Layers under Portfolio Layer Method	The amendments allow multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments. If multiple hedged layers are designated, the amendments require an analysis to be performed to support the expectation that the aggregate amount of the hedged layers is anticipated to be outstanding for the designated hedge periods. Only closed portfolios may be hedged under the portfolio layer method (that is, no assets can be added to the closed portfolio once established), however designating new hedging relationships and dedesignating existing hedging relationships associated with the closed portfolio any time after the closed portfolio is established is permitted.	January 1, 2023	At January 1, 2023 the Company did not have any designated hedging relationships under the portfolio layer method and, therefore, the adoption had no impact on its consolidated financial statements.
Accounting for Troubled Debt Restructurings (TDRs) and Expansion of Vintage Disclosures Applicable to Credit Losses	The amendments (1) eliminate the accounting guidance for TDRs and require enhanced disclosure for certain loan refinancings by creditors when a borrower is experiencing financial difficulty and (2) require disclosure of current-period gross write-offs by year of origination for financing receivables and net investments in leases within credit loss disclosures.	January 1, 2023	The Company adopted the amended guidance effective January 1, 2023 using a prospective transition method and will no longer be required to identify TDRs and apply specialized accounting to such loans. The Company has complied with the modified disclosure requirements in note 4.

16. Recent accounting developments, continued


Standard	Description	Required date of adoption	Effect on consolidated financial statements
Standards Not Yet Adopted as of March 31, 2023
Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions	The amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. In addition, the amendments require the following disclosures for equity securities subject to contractual sale restrictions: 1. The fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet; 2. The nature and remaining duration of the restriction(s); and 3. The circumstances that could cause a lapse in the restriction(s).	January 1, 2024 Early adoption permitted	The amendments should be applied prospectively with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. The Company does not expect the guidance will have a material impact on its consolidated financial statements.
Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method	The amendments permit an election to account for tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the income tax credits and other income tax benefits received and the net amortization and income tax credits and other income tax benefits are recognized in the income statement as a component of income tax expense (benefit). All of the following conditions must be met to qualify for the proportional amortization method: 1. It is probable that the income tax credits allocable to the tax equity investor will be available. 2. The tax equity investor does not have the ability to exercise significant influence over the operating and financial policies of the underlying project. 3. Substantially all of the projected benefits are from income tax credits and other income tax benefits. Projected benefits include income tax credits, other income tax benefits, and other non-income-tax-related benefits. The projected benefits are determined on a discounted basis, using a discount rate that is consistent with the cash flow assumptions used by the tax equity investor in making its decision to invest in the project. 4. The tax equity investor’s projected yield based solely on the cash flows from the income tax credits and other income tax benefits is positive. 5. The tax equity investor is a limited liability investor in the limited liability entity for both legal and tax purposes, and the tax equity investor’s liability is limited to its capital investment. To apply the proportional amortization method, an accounting policy election must be made on a tax-credit-program-by-tax-credit-program basis rather than electing to apply the proportional amortization method at the reporting entity level or to individual investments. When applying the proportional amortization method to qualifying tax equity investments the receipt of the investment tax credits must be accounted for using the flow-through method as prescribed by GAAP, even if the deferral method is applied to other investment tax credits received. In addition, all tax equity investments accounted for using the proportional amortization method must use the delayed equity contribution guidance (which requires that a liability be recognized for delayed equity contributions that are unconditional and legally binding or for equity contributions that are contingent upon a future event when that contingent event becomes probable).	January 1, 2024 Early adoption permitted	The amendments should be applied on either a modified retrospective or a retrospective basis. Under a modified retrospective transition, all investments for which income tax credits or other income tax benefits are still expected to be received must be evaluated as of the beginning of the period of adoption. The assessment of whether the investment qualifies for the proportional amortization method is performed as of the date the investment was entered into. A cumulative-effect adjustment reflecting the difference between the previous method used to account for the tax equity investment and the application of the proportional amortization method since the investment was entered into is recognized in the opening balance of retained earnings as of the beginning of the period of adoption. Under a retrospective transition, all investments for which income tax credits or other income tax benefits are still expected to be received must be evaluated as of the beginning of the earliest period presented. The assessment of whether the investment qualifies for the proportional amortization method is performed as of the date the investment was entered into. A cumulative-effect adjustment reflecting the difference between the previous method used to account for the tax equity investment and the application of the proportional amortization method since the investment was entered into is recognized in the opening balance of retained earnings as of the beginning of the earliest period presented. The Company is evaluating whether to early adopt the guidance as well as the impact that the guidance will have on its consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI https://asc.fasb.org/topic&trid=2122394

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI https://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
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+ Details

Commitments and Contingencies - Commitments and Contingent Liabilities Outstanding (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Commitments to extend credit
Home equity lines of credit	$ 8,299,310	$ 8,261,560
Commercial real estate loans to be sold	587,996	348,701
Other commercial real estate	6,217,720	5,776,116
Residential real estate loans to be sold	198,610	31,208
Other residential real estate	427,954	505,121
Commercial and other	32,964,637	32,625,840
Standby letters of credit	2,433,702	2,376,644
Commercial letters of credit	35,038	65,066
Financial guarantees and indemnification contracts	3,936,632	4,022,432
Commitments to sell real estate loans	$ 1,193,328	$ 533,458

Investment securities

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Investment securities

3. Investment securities

The amortized cost and estimated fair value of investment securities were as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(In thousands)
March 31, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	7,918,648	$	1,378	$	187,327	$	7,732,699
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		664,788		465		17,059		648,194
Residential		2,634,142		1,011		141,448		2,493,705
Other debt securities		176,338		216		12,230		164,324
		11,393,916		3,070		358,064		11,038,922
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,056,675		—		35,427		1,021,248
Obligations of states and political subdivisions		2,564,095		36		72,224		2,491,907
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		2,027,911		—		106,970		1,920,941
Residential		10,503,208		11,462		796,479		9,718,191
Privately issued		47,956		9,451		6,959		50,448
Other debt securities		1,726		—		—		1,726
		16,201,571		20,949		1,018,059		15,204,461
Total debt securities	$	27,595,487	$	24,019	$	1,376,123	$	26,243,383
Equity and other securities:
Readily marketable equity — at fair value	$	297,461	$	1,821	$	4,062	$	295,220
Other — at cost		907,496		—		—		907,496
Total equity and other securities	$	1,204,957	$	1,821	$	4,062	$	1,202,716

December 31, 2022
Investment securities available for sale:
U.S. Treasury and federal agencies	$	7,913,932	$	200	$	243,172	$	7,670,960
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		594,779		—		20,480		574,299
Residential		2,501,334		65		171,281		2,330,118
Other debt securities		183,107		250		9,773		173,584
		11,193,152		515		444,706		10,748,961
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,054,035		—		45,747		1,008,288
Obligations of states and political subdivisions		2,577,078		4		116,512		2,460,570
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		912,431		—		103,528		808,903
Residential		8,934,918		1,451		891,063		8,045,306
Privately issued		49,742		8,833		7,987		50,588
Other debt securities		1,765		—		—		1,765
		13,529,969		10,288		1,164,837		12,375,420
Total debt securities	$	24,723,121	$	10,803	$	1,609,543	$	23,124,381
Equity and other securities:
Readily marketable equity — at fair value	$	153,283	$	2,120	$	3,945	$	151,458
Other — at cost		780,483		—		—		780,483
Total equity and other securities	$	933,766	$	2,120	$	3,945	$	931,941

3. Investment securities, continued

There were no significant gross realized gains or losses from sales of investment securities for the quarters ended March 31, 2023 and 2022. Unrealized losses on equity securities are included in gain (loss) on bank investment securities in the consolidated statement of income.

At March 31, 2023, the amortized cost and estimated fair value of debt securities by contractual maturity were as follows:


	Amortized Cost		Estimated Fair Value
	(In thousands)
Debt securities available for sale:
Due in one year or less	$	1,871,549	$	1,824,693
Due after one year through five years		6,142,735		5,999,076
Due after five years through ten years		50,702		47,804
Due after ten years		30,000		25,450
		8,094,986		7,897,023
Mortgage-backed securities available for sale		3,298,930		3,141,899
	$	11,393,916	$	11,038,922
Debt securities held to maturity:
Due in one year or less	$	86,180	$	85,572
Due after one year through five years		1,120,699		1,084,851
Due after five years through ten years		1,143,823		1,130,492
Due after ten years		1,271,794		1,213,966
		3,622,496		3,514,881
Mortgage-backed securities held to maturity		12,579,075		11,689,580
	$	16,201,571	$	15,204,461

3. Investment securities, continued


	Less Than 12 Months				12 Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
March 31, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	4,257,631	$	75,505	$	3,251,259	$	111,822
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		615,024		16,985		2,120		74
Residential		660,250		25,055		1,704,875		116,393
Other debt securities		66,072		3,261		92,417		8,969
		5,598,977		120,806		5,050,671		237,258
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,021,248		35,427		—		—
Obligations of states and political subdivisions		576,759		5,041		1,867,537		67,183
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		1,739,336		106,970		—		—
Residential		5,613,759		446,267		2,464,780		350,212
Privately issued		2,039		110		35,380		6,849
		8,953,141		593,815		4,367,697		424,244
Total	$	14,552,118	$	714,621	$	9,418,368	$	661,502

December 31, 2022
Investment securities available for sale:
U.S. Treasury and federal agencies	$	6,706,413	$	183,760	$	841,945	$	59,412
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		574,299		20,480		—		—
Residential		2,295,873		169,489		28,305		1,792
Other debt securities		93,458		3,604		73,280		6,169
		9,670,043		377,333		943,530		67,373
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,008,288		45,747		—		—
Obligations of states and political subdivisions		2,449,420		116,512		—		—
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		808,903		103,528		—		—
Residential		6,292,462		619,403		1,319,300		271,660
Privately issued		—		—		35,661		7,987
		10,559,073		885,190		1,354,961		279,647
Total	$	20,229,116	$	1,262,523	$	2,298,491	$	347,020

3. Investment securities, continued

The Company owned 4,132 individual debt securities with aggregate gross unrealized losses of $1.4 billion at March 31, 2023. Based on a review of each of the securities in the investment securities portfolio at March 31, 2023, the Company concluded that it expected to recover the amortized cost basis of its investment. As of March 31, 2023, the Company does not intend to sell nor is it anticipated that it would be required to sell any of its impaired investment securities at a loss. At March 31, 2023, the Company has not identified events or changes in circumstances which may have a significant adverse effect on the fair value of the $907 million of cost method equity securities.

The Company estimated no material allowance for credit losses for its investment securities classified as held-to-maturity at March 31, 2023 or December 31, 2022.

At March 31, 2023 and December 31, 2022 investment securities with carrying values of $9.0 billion (including $1.2 billion related to repurchase transactions) and $7.9 billion (including $567 million related to repurchase transactions), respectively, were pledged to secure borrowings, lines of credit and governmental deposits.

Revenue from Contracts with Customers - Summary of Sources of Noninterest Income that are Subject to Revenue Recognition Accounting Guidance (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Brokerage services income	$ 24,041	$ 20,190
Other revenues from operations:
Total other income	587,133	540,887
Service Charges on Deposit Accounts [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	113,546	101,507
Trust Income [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	193,802	169,213
ASU 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Brokerage services income	24,041	20,190
Other revenues from operations:
Merchant discount and credit card fees	36,802	31,755
Other	14,654	24,779
Total other income	382,845	347,444
ASU 2014-09 [Member] \| Service Charges on Deposit Accounts [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	113,546	101,507
ASU 2014-09 [Member] \| Trust Income [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	193,802	169,213
ASU 2014-09 [Member] \| Business Banking [Member]
Other revenues from operations:
Merchant discount and credit card fees	14,258	12,805
Total other income	33,738	27,486
ASU 2014-09 [Member] \| Business Banking [Member] \| Service Charges on Deposit Accounts [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	19,470	14,681
ASU 2014-09 [Member] \| Business Banking [Member] \| Trust Income [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	10
ASU 2014-09 [Member] \| Commercial Banking [Member]
Other revenues from operations:
Merchant discount and credit card fees	15,791	13,459
Other	4,671	1,903
Total other income	48,935	40,933
ASU 2014-09 [Member] \| Commercial Banking [Member] \| Service Charges on Deposit Accounts [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	28,473	25,571
ASU 2014-09 [Member] \| Commercial Real Estate [Member]
Other revenues from operations:
Merchant discount and credit card fees	1,087	874
Other	1,186	2,464
Total other income	6,459	6,816
ASU 2014-09 [Member] \| Commercial Real Estate [Member] \| Service Charges on Deposit Accounts [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	4,186	3,478
ASU 2014-09 [Member] \| Discretionary Portfolio [Member]
Other revenues from operations:
Other	21	693
Total other income	21	693
ASU 2014-09 [Member] \| Residential Mortgage Banking [Member]
Other revenues from operations:
Other	340	1,729
Total other income	340	1,729
ASU 2014-09 [Member] \| Retail Banking [Member]
Other revenues from operations:
Merchant discount and credit card fees	5,361	4,510
Other	7,406	5,099
Total other income	72,219	65,956
ASU 2014-09 [Member] \| Retail Banking [Member] \| Service Charges on Deposit Accounts [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	59,452	56,347
ASU 2014-09 [Member] \| All Other [Member]
Disaggregation Of Revenue [Line Items]
Brokerage services income	24,041	20,190
Other revenues from operations:
Merchant discount and credit card fees	305	107
Other	1,030	12,891
Total other income	221,133	203,831
ASU 2014-09 [Member] \| All Other [Member] \| Service Charges on Deposit Accounts [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	1,965	1,430
ASU 2014-09 [Member] \| All Other [Member] \| Trust Income [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer	$ 193,792	$ 169,213

Derivative Financial Instruments - Information about Hedged Items Included in Consolidated Balance Sheet (Detail) - Long-term Debt [Member] - Derivatives Designated and Qualifying as Hedging Instruments [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Carrying Amount [Member]
Derivatives, Fair Value [Line Items]
Hedged Item	$ 2,441,628	$ 1,433,731
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Derivatives, Fair Value [Line Items]
Hedged Item	$ (53,291)	$ (65,310)

Fair value measurements

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair value measurements

12. Fair value measurements

GAAP permits an entity to choose to measure eligible financial instruments and other items at fair value. The Company has not made any fair value elections at March 31, 2023.

Pursuant to GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level hierarchy exists in GAAP for fair value measurements based upon the inputs to the valuation of an asset or liability.

•

Level 1 — Valuation is based on quoted prices in active markets for identical assets and liabilities.

•

Level 2 — Valuation is determined from quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar instruments in markets that are not active or by model-based techniques in which all significant inputs are observable in the market.

•

Level 3 — Valuation is derived from model-based and other techniques in which at least one significant input is unobservable and which may be based on the Company's own estimates about the assumptions that market participants would use to value the asset or liability.

When available, the Company attempts to use quoted market prices in active markets to determine fair value and classifies such items as Level 1 or Level 2. If quoted market prices in active markets are not available, fair value is often determined using model-based techniques incorporating various assumptions including interest rates, prepayment speeds and credit losses. Assets and liabilities valued using model-based techniques are classified as either Level 2 or Level 3, depending on the lowest level classification of an input that is considered significant to the overall valuation. The following is a description of the valuation methodologies used for the Company's assets and liabilities that are measured on a recurring basis at estimated fair value.

12. Fair value measurements, continued

Trading account

Mutual funds held in connection with deferred compensation and other arrangements have been classified as Level 1 valuations. Valuations of investments in debt securities can generally be obtained through reference to quoted prices in less active markets for the same or similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2.

Investment securities available for sale and equity securities

The majority of the Company's available-for-sale investment securities have been valued by reference to prices for similar securities or through model-based techniques in which all significant inputs are observable and, therefore, such valuations have been classified as Level 2. Certain investments in mutual funds and equity securities are actively traded and, therefore, have been classified as Level 1 valuations.

Real estate loans held for sale

The Company utilizes commitments to sell real estate loans to hedge the exposure to changes in fair value of real estate loans held for sale. The carrying value of hedged real estate loans held for sale includes changes in estimated fair value during the hedge period. Typically, the Company attempts to hedge real estate loans held for sale from the date of close through the sale date. The fair value of hedged real estate loans held for sale is generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans with similar characteristics and, accordingly, such loans have been classified as a Level 2 valuation.

Commitments to originate real estate loans for sale and commitments to sell real estate loans

The Company enters into various commitments to originate real estate loans for sale and commitments to sell real estate loans. Such commitments are accounted for as derivative financial instruments and, therefore, are carried at estimated fair value on the consolidated balance sheet. The estimated fair values of such commitments were generally calculated by reference to quoted prices in secondary markets for commitments to sell real estate loans to certain government-sponsored entities and other parties. The fair valuations of commitments to sell real estate loans generally result in a Level 2 classification. The estimated fair value of commitments to originate real estate loans for sale are adjusted to reflect the Company's anticipated commitment expirations. The estimated commitment expirations are considered significant unobservable inputs contributing to the Level 3 classification of commitments to originate real estate loans for sale. Significant unobservable inputs used in the determination of estimated fair value of commitments to originate real estate loans for sale are included in the accompanying table of significant unobservable inputs to Level 3 measurements.

Interest rate swap agreements used for interest rate risk management

The Company utilizes interest rate swap agreements as part of the management of interest rate risk to modify the repricing characteristics of certain portions of its portfolios of earning assets and interest-bearing liabilities. The Company generally determines the fair value of its interest rate swap agreements using externally developed pricing models based on market observable inputs and, therefore, classifies such valuations as Level 2. The Company has considered counterparty credit risk in the valuation of its interest rate swap agreement assets and has considered its own credit risk in the valuation of its interest rate swap agreement liabilities.

Other non-hedging derivatives

Other non-hedging derivatives consist primarily of interest rate contracts and foreign exchange contracts with customers who require such services with offsetting positions with third parties to minimize the Company's risk with respect to such transactions. The Company generally determines the fair value of its other non-hedging derivative assets and liabilities using externally developed pricing models based on market observable inputs and, therefore, classifies such valuations as Level 2.

12. Fair value measurements, continued

The following tables present assets and liabilities at March 31, 2023 and December 31, 2022 measured at estimated fair value on a recurring basis:


	Fair Value Measurements		Level 1		Level 2		Level 3
	(In thousands)
March 31, 2023
Trading account	$	165,216	$	113,646	$	51,570	$	—
Investment securities available for sale:
U.S. Treasury and federal agencies		7,732,699		—		7,732,699		—
Mortgage-backed securities:
Government issued or guaranteed
Commercial		648,194		—		648,194		—
Residential		2,493,705		—		2,493,705		—
Other debt securities		164,324		—		164,324		—
		11,038,922		—		11,038,922		—
Equity securities		295,220		289,788		5,432		—
Real estate loans held for sale		473,478		—		473,478		—
Other assets (a)		362,945		—		356,078		6,867
Total assets	$	12,335,781	$	403,434	$	11,925,480	$	6,867
Other liabilities (a)		1,063,941		—		1,028,933		35,008
Total liabilities	$	1,063,941	$	—	$	1,028,933	$	35,008

December 31, 2022
Trading account	$	117,847	$	117,847	$	—	$	—
Investment securities available for sale:
U.S. Treasury and federal agencies		7,670,960		—		7,670,960		—
Mortgage-backed securities:
Government issued or guaranteed
Commercial		574,299		—		574,299		—
Residential		2,330,118		—		2,330,118		—
Other debt securities		173,584		—		173,584		—
		10,748,961		—		10,748,961		—
Equity securities		151,458		145,289		6,169		—
Real estate loans held for sale		162,393		—		162,393		—
Other assets (a)		435,969		—		435,517		452
Total assets	$	11,616,628	$	263,136	$	11,353,040	$	452
Other liabilities (a)		1,355,326		—		1,309,301		46,025
Total liabilities	$	1,355,326	$	—	$	1,309,301	$	46,025

(a)

12. Fair value measurements, continued

The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the three months ended March 31, 2023 and 2022 were as follows:


	Other Assets and Other Liabilities
2023	(In thousands)

Balance — January 1, 2023	$	(45,573	)
Total losses realized/unrealized:
Included in earnings		17,351		(a)
Transfers out of Level 3		81		(b)
Balance — March 31, 2023	$	(28,141	)
Changes in unrealized losses included in earnings related to instruments still held at March 31, 2023	$	17,386		(a)

2022

Balance — January 1, 2022	$	6,440
Total gains realized/unrealized:
Included in earnings		(18,700	)	(a)
Transfers out of Level 3		(3,168	)	(b)
Balance — March 31, 2022	$	(15,428	)
Changes in unrealized gains included in earnings related to instruments still held at March 31, 2022	$	(13,219	)	(a)

(a)

Reported as mortgage banking revenues in the consolidated statement of income and includes the fair value of commitment issuances and expirations.

(b)

Transfers out of Level 3 consist of interest rate locks transferred to closed loans.

12. Fair value measurements, continued

The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The more significant of those assets follow.

Loans

Loans are generally not recorded at fair value on a recurring basis. Periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements for partial charge-offs of the uncollectable portions of those loans. Nonrecurring adjustments also include certain impairment amounts for collateral-dependent loans when establishing the allowance for credit losses. Such amounts are generally based on the fair value of the underlying collateral supporting the loan and, as a result, the carrying value of the loan less the calculated valuation amount does not necessarily represent the fair value of the loan. Real estate collateral is typically valued using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have been classified as Level 2, unless significant adjustments have been made to the valuation that are not readily observable by market participants. Non-real estate collateral supporting commercial loans generally consists of business assets such as receivables, inventory and equipment. Fair value estimations are typically determined by discounting recorded values of those assets to reflect estimated net realizable value considering specific borrower facts and circumstances and the experience of credit personnel in their dealings with similar borrower collateral liquidations. Such discounts were in the range of 15% to 90% with a weighted-average of 34% at March 31, 2023. As these discounts are not readily observable and are considered significant, the valuations have been classified as Level 3. Automobile collateral is typically valued by reference to independent pricing sources based on recent sales transactions of similar vehicles and, accordingly, the related nonrecurring fair value measurement adjustments have been classified as Level 2. Collateral values for other consumer installment loans are generally estimated based on historical recovery rates for similar types of loans which at March 31, 2023 was 57%. As these recovery rates are not readily observable by market participants, such valuation adjustments have been classified as Level 3. Loans subject to nonrecurring fair value measurement were $670 million at March 31, 2023 ($374 million and $296 million of which were classified as Level 2 and Level 3, respectively), $853 million at December 31, 2022 ($329 million and $524 million of which were classified as Level 2 and Level 3, respectively) and $392 million at March 31, 2022 ($260 million and $132 million of which were classified as Level 2 and Level 3, respectively). Changes in fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on March 31, 2023 and 2022 were decreases of $69 million and $46 million for the three-month periods ended March 31, 2023 and 2022, respectively.

Assets taken in foreclosure of defaulted loans

Assets taken in foreclosure of defaulted loans are primarily comprised of commercial and residential real property and are generally measured at the lower of cost or fair value less costs to sell. The fair value of the real property is generally determined using appraisals or other indications of value based on recent comparable sales of similar properties or assumptions generally observable in the marketplace and the related nonrecurring fair value measurement adjustments have generally been classified as Level 2. Assets taken into foreclosure of defaulted loans subject to nonrecurring fair value measurement were not material at March 31, 2023 and 2022. Changes in fair value recognized for foreclosed assets held by the Company were not material during the three-month periods ended March 31, 2023 and 2022.

12. Fair value measurements, continued

Capitalized servicing rights

Capitalized servicing rights are initially measured at fair value in the Company’s consolidated balance sheet. The Company utilizes the amortization method to subsequently measure its capitalized servicing assets. In accordance with GAAP, the Company must record impairment charges, on a nonrecurring basis, when the carrying value of certain strata exceed their estimated fair value. To estimate the fair value of servicing rights, the Company considers market prices for similar assets, if available, and the present value of expected future cash flows associated with the servicing rights calculated using assumptions that market participants would use in estimating future servicing income and expense. Such assumptions include estimates of the cost of servicing loans, loan default rates, an appropriate discount rate, and prepayment speeds. For purposes of evaluating and measuring impairment of capitalized servicing rights, the Company stratifies such assets based on the predominant risk characteristics of the underlying financial instruments that are expected to have the most impact on projected prepayments, cost of servicing and other factors affecting future cash flows associated with the servicing rights. Such factors may include financial asset or loan type, note rate and term. The amount of impairment recognized is the amount by which the carrying value of the capitalized servicing rights for a stratum exceed estimated fair value. Impairment is recognized through a valuation allowance. The determination of fair value of capitalized servicing rights is considered a Level 3 valuation. Capitalized servicing rights related to residential mortgage loans of $133 million required a valuation allowance of $21 million at March 31, 2022. Significant unobservable inputs used in this Level 3 valuation included a weighted-average prepayment speed of 12.42% and a weighted-average option-adjusted spread of 900 basis points at March 31, 2022. There were no valuation allowances recorded at either March 31, 2023 or December 31, 2022. A reduction of the valuation allowance of $3 million was recognized in the three-month period ended March 31, 2022.

Significant unobservable inputs to Level 3 measurements


	Fair Value			Valuation Technique	Unobservable Inputs / Assumptions	Range (Weighted- Average)
	(In thousands)
March 31, 2023
Recurring fair value measurements
Net other assets (liabilities) (a)	$	(28,141	)	Discounted cash flow	Commitment expirations	0% - 95% (7%)

December 31, 2022
Recurring fair value measurements
Net other assets (liabilities) (a)	$	(45,573	)	Discounted cash flow	Commitment expirations	0% - 97% (3%)

(a)

Other Level 3 assets (liabilities) consist of commitments to originate real estate loans.

Sensitivity of fair value measurements to changes in unobservable inputs

An increase (decrease) in the estimate of expirations for commitments to originate real estate loans would generally result in a lower (higher) fair value measurement. Estimated commitment expirations are derived considering loan type, changes in interest rates and remaining length of time until closing.

12. Fair value measurements, continued

Disclosures of fair value of financial instruments

The carrying amounts and estimated fair value for financial instrument assets (liabilities) are presented in the following tables:


	March 31, 2023
	Carrying Amount			Estimated Fair Value			Level 1		Level 2			Level 3
	(In thousands)
Financial assets:
Cash and cash equivalents	$	1,817,740			1,817,740			1,742,645		75,095			—
Interest-bearing deposits at banks		22,306,425			22,306,425			—		22,306,425			—
Trading account		165,216			165,216			113,646		51,570			—
Investment securities		28,443,209			27,446,099			289,788		27,105,863			50,448
Loans and leases:
Commercial loans and leases		43,758,361			42,992,625			—		—			42,992,625
Commercial real estate loans		45,072,541			42,870,814			—		321,473			42,549,341
Residential real estate loans		23,789,945			22,004,511			—		7,169,803			14,834,708
Consumer loans		20,316,845			19,514,964			—		—			19,514,964
Allowance for credit losses		(1,975,110	)		—			—		—			—
Loans and leases, net		130,962,582			127,382,914			—		7,491,276			119,891,638
Accrued interest receivable		693,011			693,011			—		693,011			—
Financial liabilities:
Noninterest-bearing deposits	$	(59,955,033	)		(59,955,033	)		—		(59,955,033	)		—
Savings and interest-checking deposits		(86,282,685	)		(86,282,685	)		—		(86,282,685	)		—
Time deposits		(12,837,522	)		(12,808,615	)		—		(12,808,615	)		—
Short-term borrowings		(6,995,302	)		(6,995,302	)		—		(6,995,302	)		—
Long-term borrowings		(7,462,890	)		(7,070,243	)		—		(7,070,243	)		—
Accrued interest payable		(182,906	)		(182,906	)		—		(182,906	)		—
Other financial instruments:
Commitments to originate real estate loans for sale	$	(28,141	)		(28,141	)		—		—			(28,141	)
Commitments to sell real estate loans		38,844			38,844			—		38,844			—
Other credit-related commitments		(152,513	)		(152,513	)		—		—			(152,513	)
Interest rate swap agreements used for interest rate risk management		11,250			11,250			—		11,250			—
Interest rate and foreign exchange contracts not designated as hedging instruments		(722,949	)		(722,949	)		—		(722,949	)		—

12. Fair value measurements, continued


	December 31, 2022
	Carrying Amount			Estimated Fair Value			Level 1		Level 2			Level 3
				(In thousands)
Financial assets:
Cash and cash equivalents	$	1,517,244			1,517,244			1,371,688		145,556			—
Interest-bearing deposits at banks		24,958,719			24,958,719			—		24,958,719			—
Federal funds sold		3,000			3,000			—		3,000			—
Trading account		117,847			117,847			117,847		—			—
Investment securities		25,210,871			24,056,322			145,289		23,860,445			50,588
Loans and leases:
Commercial loans and leases		41,850,566			41,139,985			—		—			41,139,985
Commercial real estate loans		45,364,571			43,214,646			—		130,652			43,083,994
Residential real estate loans		23,755,947			21,780,214			—		7,049,540			14,730,674
Consumer loans		20,593,079			20,093,523			—		—			20,093,523
Allowance for credit losses		(1,925,331	)		—			—		—			—
Loans and leases, net		129,638,832			126,228,368			—		7,180,192			119,048,176
Accrued interest receivable		646,250			646,250			—		646,250			—
Financial liabilities:
Noninterest-bearing deposits	$	(65,501,860	)		(65,501,860	)		—		(65,501,860	)		—
Savings and interest-checking deposits		(87,911,463	)		(87,911,463	)		—		(87,911,463	)		—
Time deposits		(10,101,545	)		(10,143,110	)		—		(10,143,110	)		—
Short-term borrowings		(3,554,951	)		(3,554,951	)		—		(3,554,951	)		—
Long-term borrowings		(3,964,537	)		(3,926,489	)		—		(3,926,489	)		—
Accrued interest payable		(81,356	)		(81,356	)		—		(81,356	)		—
Other financial instruments:
Commitments to originate real estate loans for sale	$	(45,573	)		(45,573	)		—		—			(45,573	)
Commitments to sell real estate loans		54,424			54,424			—		54,424			—
Other credit-related commitments		(148,772	)		(148,772	)		—		—			(148,772	)
Interest rate swap agreements used for interest rate risk management		(7,892	)		(7,892	)		—		(7,892	)		—
Interest rate and foreign exchange contracts not designated as hedging instruments		(920,316	)		(920,316	)		—		(920,316	)		—

With the exception of marketable securities, certain off-balance sheet financial instruments and mortgage loans originated for sale, the Company’s financial instruments are not readily marketable and market prices do not exist. The Company, in attempting to comply with the provisions of GAAP that require disclosures of fair value of financial instruments, has not attempted to market its financial instruments to potential buyers, if any exist. Since negotiated prices in illiquid markets depend greatly upon the then present motivations of the buyer and seller, it is reasonable to assume that actual sales prices could vary widely from any estimate of fair value made without the benefit of negotiations. Additionally, changes in market interest rates can dramatically impact the value of financial instruments in a short period of time.

The Company does not believe that the estimated information presented herein is representative of the earnings power or value of the Company. The preceding analysis, which is inherently limited in depicting fair value, also does not consider any value associated with existing customer relationships nor the ability of the Company to create value through loan origination, deposit gathering or fee generating activities. Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise. Management believes that fair value estimates may not be comparable between financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made. Furthermore, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revenue from Contracts with Customers - Additional Information (Detail1)	Mar. 31, 2023
Maximum [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01
Disaggregation Of Revenue [Line Items]
Period of satisfaction of contract with customer	1 year

Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives not designated as hedging instruments, Derivatives	$ 11,548	$ 6,899
Interest Rate Swap Agreements [Member] \| Fixed Rate Long-Term Borrowings [Member] \| Derivatives Designated and Qualifying as Hedging Instruments [Member] \| Fair Value Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives in fair value hedging relationships, Derivative	$ 12,037	$ (43,273)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense
Derivatives in fair value hedging relationships, Hedged item	$ (12,019)	$ 42,998
Interest Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives not designated as hedging instruments, Derivatives	7,563	5,153
Foreign Exchange and Other Option and Futures Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives not designated as hedging instruments, Derivatives	$ 3,985	$ 1,746

Borrowings

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Borrowings

5. Borrowings

M&T had $537 million of fixed and variable rate junior subordinated deferrable interest debentures ("Junior Subordinated Debentures") outstanding at March 31, 2023 that are held by various trusts that were issued in connection with the issuance by those trusts of preferred capital securities ("Capital Securities") and common securities ("Common Securities"). The proceeds from the issuances of the Capital Securities and the Common Securities were used by the trusts to purchase the Junior Subordinated Debentures. The Common Securities of each of those trusts are wholly owned by M&T and are the only class of each trust's securities possessing general voting powers. The Capital Securities represent preferred undivided interests in the assets of the corresponding trust. Under the Federal Reserve Board’s risk-based capital guidelines, the securities are includable in M&T’s Tier 2 regulatory capital.

5. Borrowings, continued

Holders of the Capital Securities receive preferential cumulative cash distributions unless M&T exercises its right to extend the payment of interest on the Junior Subordinated Debentures as allowed by the terms of each such debenture, in which case payment of distributions on the respective Capital Securities will be deferred for comparable periods. During an extended interest period, M&T may not pay dividends or distributions on, or repurchase, redeem or acquire any shares of its capital stock. In general, the agreements governing the Capital Securities, in the aggregate, provide a full, irrevocable and unconditional guarantee by M&T of the payment of distributions on, the redemption of, and any liquidation distribution with respect to the Capital Securities. The obligations under such guarantee and the Capital Securities are subordinate and junior in right of payment to all senior indebtedness of M&T.

The Capital Securities will remain outstanding until the Junior Subordinated Debentures are repaid at maturity, are redeemed prior to maturity or are distributed in liquidation to the trusts. The Capital Securities are mandatorily redeemable in whole, but not in part, upon repayment at the stated maturity dates (ranging from 2027 to 2033) of the Junior Subordinated Debentures or the earlier redemption of the Junior Subordinated Debentures in whole upon the occurrence of one or more events set forth in the indentures relating to the Capital Securities, and in whole or in part at any time after an optional redemption prior to contractual maturity contemporaneously with the optional redemption of the related Junior Subordinated Debentures in whole or in part, subject to possible regulatory approval.

In January 2023, M&T issued $1.0 billion of senior notes that mature in January 2034 and pay a 5.053% fixed rate semi-annually until January 2033 after which the Secured Overnight Financing Rate ("SOFR") plus 1.85% will be paid quarterly until maturity. Additionally, in January 2023 M&T Bank issued $1.3 billion of senior notes that mature in January 2026 and pay a fixed rate of 4.65% semi-annually until maturity and $1.2 billion of senior notes that mature in January 2028 and pay a fixed rate of 4.70% semi-annually until maturity.

At March 31, 2023, M&T Bank had borrowing facilities available with the Federal Home Loan Bank of New York whereby M&T Bank could borrow an additional $17.1 billion. M&T Bank also had an available line of credit with the Federal Reserve Bank of New York totaling approximately $15.4 billion at March 31, 2023. 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.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Notional Amount	$ 15,200,000	$ 17,400,000
Average Maturity (in years)	2 years 7 months 6 days	1 year 7 months 6 days
Estimated Fair Value Gain (Loss)	$ 11,250	$ (7,892)
Interest Payments On Variable Rate Commercial Real Estate Loans [Member] \| Cash Flow Hedges [Member]
Derivative [Line Items]
Notional Amount	$ 12,700,000	$ 15,900,000
Average Maturity (in years)	2 years	1 year 4 months 24 days
Weighted-Average Rate, Fixed	3.10%	1.91%
Weighted-Average Rate, Variable	4.82%	4.38%
Estimated Fair Value Gain (Loss)	$ 5,890	$ (7,059)
Fixed Rate Long-Term Borrowings [Member] \| Fair Value Hedges [Member]
Derivative [Line Items]
Notional Amount	$ 2,500,000	$ 1,500,000
Average Maturity (in years)	5 years 8 months 12 days	3 years 3 months 18 days
Weighted-Average Rate, Fixed	3.05%	2.98%
Weighted-Average Rate, Variable	5.06%	4.52%
Estimated Fair Value Gain (Loss)	$ 5,360	$ (833)

Comprehensive Income - Accumulated Other Comprehensive Income (Loss), Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 25,317,990	$ 17,903,405
Net gain (loss) during period	145,025	(249,807)
Ending balance	25,377,171	17,876,020
Investment Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(329,168)
Net gain (loss) during period	65,140
Ending balance	(264,028)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(202,186)
Net gain (loss) during period	(2,242)
Ending balance	(204,428)
Accumulated Other Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(258,676)
Net gain (loss) during period	82,127
Ending balance	(176,549)
Accumulated Other Comprehensive Income (Loss), Net [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(790,030)	(127,578)
Net gain (loss) during period	145,025
Ending balance	$ (645,005)	$ (377,385)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

Derivative financial instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Information about Interest Rate Swap Agreements

Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows:


					Weighted-						Estimated
	Notional		Average		Average Rate						Fair Value
	Amount		Maturity		Fixed			Variable			Gain (Loss) (a)
	(In thousands)		(In years)								(In thousands)
March 31, 2023
Fair value hedges:
Fixed rate long-term borrowings (b)	$	2,500,000		5.7		3.05	%		5.06	%	$	5,360
Cash flow hedges:
Interest payments on variable rate commercial real estate loans (b) (c)		12,700,000		2.0		3.10	%		4.82	%		5,890
Total	$	15,200,000		2.6							$	11,250
December 31, 2022
Fair value hedges:
Fixed rate long-term borrowings (b)	$	1,500,000		3.3		2.98	%		4.52	%	$	(833	)
Cash flow hedges:
Interest payments on variable rate commercial real estate loans (b) (d)		15,900,000		1.4		1.91	%		4.38	%		(7,059	)
Total	$	17,400,000		1.6							$	(7,892	)

(a)

Certain clearinghouse exchanges consider payments by counterparties for variation margin on derivative instruments to be settlements of those positions. The impact of such payments for interest rate swap agreements designated as fair value hedges was a net settlement of losses of $59.1 million at March 31, 2023 and $65.0 million at December 31, 2022. The impact of such payments on interest rate swap agreements designated as cash flow hedges was a net settlement of losses of $232.6 million at March 31, 2023 and $329.7 million at December 31, 2022.

(b)

Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate.

(c)

Includes notional amount and terms of $3.0 billion of forward-starting interest rate swap agreements that become effective in 2023.

(d)

Includes notional amount and terms of $4.7 billion of forward-starting interest rate swap agreements that become effective in 2023.

Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet

10. Derivative financial instruments, continued

Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows:


	Asset Derivatives				Liability Derivatives
	Fair Value				Fair Value
	March 31,		December 31,		March 31,		December 31,
	2023		2022		2023		2022
	(In thousands)
Derivatives designated and qualifying as hedging instruments (a)
Interest rate swap agreements	$	11,354	$	1,202	$	104	$	9,094
Commitments to sell real estate loans		2,824		3,037		2,091		9
		14,178		4,239		2,195		9,103
Derivatives not designated and qualifying as hedging instruments (a)
Mortgage banking:
Mortgage-related commitments to originate real estate loans for sale		6,867		452		35,008		46,025
Commitments to sell real estate loans		39,550		51,410		1,439		14
		46,417		51,862		36,447		46,039
Other:
Interest rate contracts (b)		280,283		355,806		1,006,264		1,278,180
Foreign exchange and other option and futures contracts		22,067		24,062		19,035		22,004
		302,350		379,868		1,025,299		1,300,184
Total derivatives	$	362,945	$	435,969	$	1,063,941	$	1,355,326

Information about Fair Values of Derivative Instruments in Consolidated Statement of Income


	Amount of Gain (Loss) Recognized
	Three Months Ended March 31
	2023					2022
	Derivative		Hedged Item			Derivative			Hedged Item
	(In thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	12,037		(12,019	)	$	(43,273	)		42,998
Derivatives not designated as hedging instruments
Interest rate contracts (b)	$	7,563				$	5,153
Foreign exchange and other option and futures contracts (b)		3,985					1,746
Total	$	11,548				$	6,899

(a)

Reported as an adjustment to interest expense.

Reported as trading account and other non-hedging derivative gains.

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Preferred Series E [Member]
Preferred stock per share dividend amount	$ 16.125	$ 16.125
Preferred Series F [Member]
Preferred stock per share dividend amount	128.125	128.125
Preferred Series G [Member]
Preferred stock per share dividend amount	125.00	125.00
Preferred Series I [Member]
Preferred stock per share dividend amount	87.50	94.306
Preferred Series H [Member]
Preferred stock per share dividend amount	0.3516
Retained Earnings [Member]
Common stock per share dividend amount	$ 1.30	$ 1.20

Comprehensive income (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income

The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income:


	Investment			Defined Benefit						Total Amount				Income
	Securities			Plans			Other			Before Tax				Tax			Net
	(In thousands)

Balance — January 1, 2023	$	(444,192	)		(272,856	)		(349,129	)	$	(1,066,177	)			276,147		$	(790,030	)
Other comprehensive income (loss) before reclassifications:
Unrealized holding gains, net		89,198			—			—			89,198				(24,058	)		65,140
Foreign currency translation adjustment		—			—			1,807			1,807				(613	)		1,194
Unrealized gains on cash flow hedges		—			—			51,038			51,038				(13,503	)		37,535
Total other comprehensive income (loss) before reclassifications		89,198			—			52,845			142,043				(38,174	)		103,869
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Accretion of net gain on terminated cash flow hedges		—			—			(30	)		(30	)	(b)		8			(22	)
Net yield adjustment from cash flow hedges currently in effect		—			—			59,039			59,039		(a)		(15,619	)		43,420
Amortization of prior service credit		—			(475	)		—			(475	)	(c)		(51	)		(526	)
Amortization of actuarial losses		—			(1,550	)		—			(1,550	)	(c)		(166	)		(1,716	)
Total other comprehensive income (loss)		89,198			(2,025	)		111,854			199,027				(54,002	)		145,025
Balance — March 31, 2023	$	(354,994	)		(274,881	)		(237,275	)	$	(867,150	)			222,145		$	(645,005	)


Balance — January 1, 2022	$	104,691			(360,276	)		83,531		$	(172,054	)			44,476		$	(127,578	)
Other comprehensive income (loss) before reclassifications:
Unrealized holding losses, net		(184,955	)		—			—			(184,955	)			47,758			(137,197	)
Foreign currency translation adjustment		—			—			(2,123	)		(2,123	)			475			(1,648	)
Unrealized losses on cash flow hedges		—			—			(115,724	)		(115,724	)			29,885			(85,839	)
Total other comprehensive income (loss) before reclassifications		(184,955	)		—			(117,847	)		(302,802	)			78,118			(224,684	)
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Amortization of unrealized holding losses on held-to-maturity securities		1,119			—			—			1,119		(a)		(289	)		830
Accretion of net gain on terminated cash flow hedges		—			—			(30	)		(30	)	(b)		9			(21	)
Net yield adjustment from cash flow hedges currently in effect		—			—			(38,019	)		(38,019	)	(a)		9,818			(28,201	)
Amortization of prior service credit		—			(950	)		—			(950	)	(c)		305			(645	)
Amortization of actuarial losses		—			4,300			—			4,300		(c)		(1,386	)		2,914
Total other comprehensive income (loss)		(183,836	)		3,350			(155,896	)		(336,382	)			86,575			(249,807	)
Balance — March 31, 2022	$	(79,145	)		(356,926	)		(72,365	)	$	(508,436	)			131,051		$	(377,385	)

(a)

Included in interest income.

(b)

Included in interest expense.

(c)

Included in other costs of operations.

Accumulated Other Comprehensive Income (Loss), Net

Accumulated other comprehensive income (loss), net consisted of the following:


				Defined
	Investment			Benefit
	Securities			Plans			Other			Total
	(In thousands)

Balance — December 31, 2022	$	(329,168	)	$	(202,186	)	$	(258,676	)	$	(790,030	)
Net gain (loss) during period		65,140			(2,242	)		82,127			145,025
Balance — March 31, 2023	$	(264,028	)	$	(204,428	)	$	(176,549	)	$	(645,005	)

Pension Plans and Other Postretirement Benefits - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Compensation And Retirement Disclosure [Abstract]
Defined contribution pension and retirement savings plans total expense	$ 44	$ 31

Commitments and contingencies

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and contingencies

13. Commitments and contingencies

In the normal course of business, various commitments and contingent liabilities are outstanding. The following table presents the Company's significant commitments. Certain of these commitments are not included in the Company's consolidated balance sheet.


	March 31,		December 31,
	2023		2022
	(In thousands)
Commitments to extend credit
Home equity lines of credit	$	8,299,310	$	8,261,560
Commercial real estate loans to be sold		587,996		348,701
Other commercial real estate		6,217,720		5,776,116
Residential real estate loans to be sold		198,610		31,208
Other residential real estate		427,954		505,121
Commercial and other		32,964,637		32,625,840
Standby letters of credit		2,433,702		2,376,644
Commercial letters of credit		35,038		65,066
Financial guarantees and indemnification contracts		3,936,632		4,022,432
Commitments to sell real estate loans		1,193,328		533,458

Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee. In addition to the amounts in the preceding table, the Company had discretionary funding commitments to commercial customers of $12.5 billion and $11.7 billion at March 31, 2023 and December 31, 2022, respectively, that the Company had the unconditional right to cancel prior to funding. Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, whereas commercial letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and a third party. The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies. Collateral may be obtained based on management's assessment of the customer's creditworthiness.

Financial guarantees and indemnification contracts are predominantly comprised of recourse obligations associated with sold loans and other guarantees and commitments. Included in financial guarantees and indemnification contracts are loan principal amounts sold with recourse in conjunction with the Company's involvement in the Fannie Mae Delegated Underwriting and Servicing program. The Company's maximum credit risk for recourse associated with loans sold under this program totaled approximately $3.8 billion at March 31, 2023 and $3.9 billion at December 31, 2022. There have been no material losses incurred as a result of those credit recourse arrangements.

Since many loan commitments, standby letters of credit, and guarantees and indemnification contracts expire without being funded in whole or in part, the contract amounts are not necessarily indicative of future cash flows.

The Company utilizes commitments to sell real estate loans to hedge exposure to changes in the fair value of real estate loans held for sale. Such commitments are accounted for as derivatives and along with commitments to originate real estate loans to be held for sale are generally recorded in the consolidated balance sheet at estimated fair market value.

13. Commitments and contingencies, continued

The Company is contractually obligated to repurchase previously sold residential real estate loans that do not ultimately meet investor sale criteria related to underwriting procedures or loan documentation. When required to do so, the Company may reimburse loan purchasers for losses incurred or may repurchase certain loans. The Company reduces residential mortgage banking revenues by an estimate for losses related to its obligations to loan purchasers. The amount of those charges is based on the volume of loans sold, the level of reimbursement requests received from loan purchasers and estimates of losses that may be associated with previously sold loans. At March 31, 2023, the Company believes that its obligation to loan purchasers was not material to the Company’s consolidated financial position.

M&T and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings and matters in which claims for monetary damages are asserted. On an on-going basis management, after consultation with legal counsel, assesses the Company’s liabilities and contingencies in connection with such proceedings. For those matters where it is probable that the Company will incur losses and the amounts of the losses can be reasonably estimated, the Company records an expense and corresponding liability in its consolidated financial statements. To the extent pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability, was between $0 and $25 million as of March 31, 2023. Although the Company does not believe that the outcome of pending legal matters will be material to the Company’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations for a particular reporting period in the future.

Significant accounting policies	3 Months Ended
Significant accounting policies	Mar. 31, 2023
Accounting Policies [Abstract]
Significant accounting policies	1. Significant accounting policies The consolidated interim financial statements of M&T Bank Corporation (“M&T”) and subsidiaries (“the Company”) were compiled in accordance with generally accepted accounting principles (“GAAP”) using the accounting policies set forth in note 1 of Notes to Financial Statements included in Form 10-K for the year ended December 31, 2022 (“2022 Annual Report”), except as disclosed in note 16 of Notes to Financial Statements herein. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented.

Loans and Leases and the Allowance for Credit Losses - Summary of Current, Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	$ 1,891,910	$ 1,779,054
Accruing Loans Past Due 90 Days or More	407,457	491,018
Nonaccrual	2,556,799	2,438,435
Loans and leases, net of unearned discount	132,937,692	131,564,163
Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	128,081,526	126,855,656
Commercial, Financial, Leasing, etc. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	489,322	448,462
Accruing Loans Past Due 90 Days or More	61,550	72,502
Nonaccrual	382,268	347,204
Loans and leases, net of unearned discount	43,758,361	41,850,566
Commercial, Financial, Leasing, etc. [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	42,825,221	40,982,398
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	399,114	311,188
Accruing Loans Past Due 90 Days or More	37,137	67,696
Nonaccrual	1,516,655	1,396,662
Loans and leases, net of unearned discount	37,202,925	36,748,173
Commercial [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	35,250,019	34,972,627
Residential Builder and Developer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	111,894	8,703
Nonaccrual	3,303	1,229
Loans and leases, net of unearned discount	1,241,890	1,314,730
Residential Builder and Developer [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	1,126,693	1,304,798
Other Commercial Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	242,226	239,521
Accruing Loans Past Due 90 Days or More	10,843	549
Nonaccrual	143,015	124,937
Loans and leases, net of unearned discount	6,627,726	7,301,668
Other Commercial Construction [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	6,231,642	6,936,661
Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	496,225	595,897
Accruing Loans Past Due 90 Days or More	292,950	345,402
Nonaccrual	253,646	272,090
Loans and leases, net of unearned discount	22,769,784	22,704,895
Residential [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	21,726,963	21,491,506
Residential Limited Documentation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	26,046	22,456
Nonaccrual	68,935	77,814
Loans and leases, net of unearned discount	1,020,161	1,051,052
Residential Limited Documentation [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	925,180	950,782
Home Equity Lines and Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	26,679	30,787
Nonaccrual	80,766	84,788
Loans and leases, net of unearned discount	4,859,267	5,006,886
Home Equity Lines and Loans [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,751,822	4,891,311
Recreational Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	48,448	54,593
Nonaccrual	34,186	44,630
Loans and leases, net of unearned discount	9,149,221	9,073,394
Recreational Finance [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	9,066,587	8,974,171
Automobile [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	35,270	44,486
Nonaccrual	26,842	39,584
Loans and leases, net of unearned discount	4,311,147	4,477,276
Automobile [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,249,035	4,393,206
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	16,686	22,961
Accruing Loans Past Due 90 Days or More	4,977	4,869
Nonaccrual	47,183	49,497
Loans and leases, net of unearned discount	1,997,210	2,035,523
Other [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 1,928,364	$ 1,958,196

Derivative financial instruments

3 Months Ended

Mar. 31, 2023

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative financial instruments

10. Derivative financial instruments

As part of managing interest rate risk, the Company enters into interest rate swap agreements to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate swap agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate swap agreements are generally entered into with counterparties that meet established credit standards and most contain master netting, collateral and/or settlement provisions protecting the at-risk party. Based on adherence to the Company’s credit standards and the presence of the netting, collateral or settlement provisions, the Company believes that the credit risk inherent in these contracts was not material as of March 31, 2023.

The net effect of interest rate swap agreements was to decrease net interest income by $69 million and to increase net interest income by $47 million during the three-month periods ended March 31, 2023 and 2022, respectively.

Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows:


					Weighted-						Estimated
	Notional		Average		Average Rate						Fair Value
	Amount		Maturity		Fixed			Variable			Gain (Loss) (a)
	(In thousands)		(In years)								(In thousands)
March 31, 2023
Fair value hedges:
Fixed rate long-term borrowings (b)	$	2,500,000		5.7		3.05	%		5.06	%	$	5,360
Cash flow hedges:
Interest payments on variable rate commercial real estate loans (b) (c)		12,700,000		2.0		3.10	%		4.82	%		5,890
Total	$	15,200,000		2.6							$	11,250
December 31, 2022
Fair value hedges:
Fixed rate long-term borrowings (b)	$	1,500,000		3.3		2.98	%		4.52	%	$	(833	)
Cash flow hedges:
Interest payments on variable rate commercial real estate loans (b) (d)		15,900,000		1.4		1.91	%		4.38	%		(7,059	)
Total	$	17,400,000		1.6							$	(7,892	)

(a)

(b)

Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate.

(c)

Includes notional amount and terms of $3.0 billion of forward-starting interest rate swap agreements that become effective in 2023.

(d)

Includes notional amount and terms of $4.7 billion of forward-starting interest rate swap agreements that become effective in 2023.

The Company utilizes commitments to sell residential and commercial real estate loans to hedge the exposure to changes in the fair value of real estate loans held for sale. Such commitments have generally been designated as fair value hedges. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in fair value of certain commitments to originate real estate loans for sale.

Other derivative financial instruments not designated as hedging instruments included interest rate contracts, foreign exchange and other option and futures contracts. Interest rate contracts not designated as hedging instruments had notional values of $44.1 billion and $45.1 billion at March 31, 2023 and December 31, 2022, respectively. The notional amounts of foreign exchange and other option and futures contracts not designated as hedging instruments aggregated $1.6 billion and $1.7 billion at March 31, 2023 and December 31, 2022, respectively.

10. Derivative financial instruments, continued

Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows:


	Asset Derivatives				Liability Derivatives
	Fair Value				Fair Value
	March 31,		December 31,		March 31,		December 31,
	2023		2022		2023		2022
	(In thousands)
Derivatives designated and qualifying as hedging instruments (a)
Interest rate swap agreements	$	11,354	$	1,202	$	104	$	9,094
Commitments to sell real estate loans		2,824		3,037		2,091		9
		14,178		4,239		2,195		9,103
Derivatives not designated and qualifying as hedging instruments (a)
Mortgage banking:
Mortgage-related commitments to originate real estate loans for sale		6,867		452		35,008		46,025
Commitments to sell real estate loans		39,550		51,410		1,439		14
		46,417		51,862		36,447		46,039
Other:
Interest rate contracts (b)		280,283		355,806		1,006,264		1,278,180
Foreign exchange and other option and futures contracts		22,067		24,062		19,035		22,004
		302,350		379,868		1,025,299		1,300,184
Total derivatives	$	362,945	$	435,969	$	1,063,941	$	1,355,326

(a)

Asset derivatives are reported in other assets and liability derivatives are reported in other liabilities.

(b)

The impact of variation margin payments at March 31, 2023 and December 31, 2022 was a reduction of the estimated fair value of interest rate contracts not designated as hedging instruments in an asset position of $861.5 million and $1.1 billion, respectively, and in a liability position of $19.6 million and $29.2 million, respectively.


	Amount of Gain (Loss) Recognized
	Three Months Ended March 31
	2023					2022
	Derivative		Hedged Item			Derivative			Hedged Item
	(In thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	12,037		(12,019	)	$	(43,273	)		42,998
Derivatives not designated as hedging instruments
Interest rate contracts (b)	$	7,563				$	5,153
Foreign exchange and other option and futures contracts (b)		3,985					1,746
Total	$	11,548				$	6,899

(a)

Reported as an adjustment to interest expense.

(b)

Reported as trading account and other non-hedging derivative gains.


	Carrying Amount of the Hedged Item				Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount of the Hedged Item
	March 31, 2023		December 31, 2022		March 31, 2023			December 31, 2022
	(In thousands)
Location in the Consolidated Balance Sheet of the Hedged Items in Fair Value Hedges

Long-term debt	$	2,441,628	$	1,433,731	$	(53,291	)	$	(65,310	)

The amount of interest income recognized in the consolidated statement of income associated with derivatives designated as cash flow hedges was a decrease of $59 million and an increase of $38 million for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023 the unrealized net loss recognized in other comprehensive income related to cash flow hedges was $227 million, of which losses of $3 million and $230 million and gains of $6 million related to interest rate swap agreements maturing in 2024, 2025 and 2026, respectively.

10. Derivative financial instruments, continued

The Company also has commitments to sell and commitments to originate residential and commercial real estate loans that are considered derivatives. The Company designates certain of the commitments to sell real estate loans as fair value hedges of real estate loans held for sale. The Company also utilizes commitments to sell real estate loans to offset the exposure to changes in the fair value of certain commitments to originate real estate loans for sale. As a result of these activities, net unrealized pre-tax gains related to hedged loans held for sale, commitments to originate loans for sale and commitments to sell loans were approximately $15 million and $8 million at March 31, 2023 and December 31, 2022, respectively. Changes in unrealized gains and losses are included in mortgage banking revenues and, in general, are realized in subsequent periods as the related loans are sold and commitments satisfied.

The Company does not offset derivative asset and liability positions in its consolidated financial statements. The Company’s exposure to credit risk by entering into derivative contracts is mitigated through master netting agreements and collateral posting or settlement requirements. Master netting agreements covering interest rate and foreign exchange contracts with the same party include a right to set-off that becomes enforceable in the event of default, early termination or under other specific conditions.

The aggregate fair value of derivative financial instruments in a liability position, which are subject to master netting arrangements, was $2 million and less than $1 million at March 31, 2023 and December 31, 2022, respectively. Collateral of $1 million was posted for the position at March 31, 2023 and no collateral was posted for the position at December 31, 2022. Certain of the Company’s derivative financial instruments contain provisions that require the Company to maintain specific credit ratings from credit rating agencies to avoid higher collateral posting requirements. If the Company’s debt ratings were to fall below specified ratings, the counterparties of the derivative financial instruments could demand immediate incremental collateralization on those instruments in a net liability position. The aggregate fair value of all derivative financial instruments with such credit risk-related contingent features in a net liability position on March 31, 2023 was not material.

The aggregate fair value of derivative financial instruments in an asset position with counterparties, which are subject to enforceable master netting arrangements, was $253 million at March 31, 2023 and $314 million at December 31, 2022. Counterparties posted collateral relating to those positions of $253 million at March 31, 2023 and $312 million at December 31, 2022, respectively. Interest rate swap agreements entered into with customers are subject to the Company’s credit risk standards and often contain collateral provisions.

In addition to the derivative contracts noted above, the Company clears certain derivative transactions through a clearinghouse, rather than directly with counterparties. Those transactions cleared through a clearinghouse require initial margin collateral and variation margin payments depending on the contracts being in a net asset or liability position. The amount of initial margin collateral posted by the Company was $202 million and $205 million at March 31, 2023 and December 31, 2022, respectively. The fair value asset and liability amounts of derivative contracts have been reduced by variation margin payments treated as settlements as described herein. Variation margin on derivative contracts not treated as settlements continues to represent collateral posted or received by the Company.

Segment information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Information about Company's Segments


	Three Months Ended March 31, 2022
	Total Revenues as Previously Reported		Impact of Changes			Total Revenues as Reclassified		Net Income (Loss) as Previously Reported			Impact of Changes			Net Income (Loss) as Reclassified
	(In thousands)

Business Banking	$	141,346		—		$	141,346	$	41,111			(1,579	)	$	39,532
Commercial Banking		289,372		(10,437	)		278,935		144,608			(16,148	)		128,460
Commercial Real Estate		202,087		10,437			212,524		97,610			13,636			111,246
Discretionary Portfolio		64,727		—			64,727		35,385			(700	)		34,685
Residential Mortgage Banking		137,444		—			137,444		28,964			(1,850	)		27,114
Retail Banking		355,148		—			355,148		84,164			(5,082	)		79,082
All Other		254,937		—			254,937		(69,668	)		11,723			(57,945	)
Total	$	1,445,061		—		$	1,445,061	$	362,174			—		$	362,174

Information about the Company's segments follows:


	Three Months Ended March 31
	2023									2022
	Total Revenues(a)			Inter- segment Revenues			Net Income (Loss)			Total Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)

Business Banking	$	273,551		$	877		$	113,251		$	141,346	$	671		$	39,532
Commercial Banking		507,020			10,226			219,979			278,935		863			128,460
Commercial Real Estate		225,719			289			80,809			212,524		179			111,246
Discretionary Portfolio		(33,396	)		(15,205	)		(40,397	)		64,727		(27,805	)		34,685
Residential Mortgage Banking		77,654			20,472			(12,354	)		137,444		37,464			27,114
Retail Banking		831,842			(39	)		316,594			355,148		(3	)		79,082
All Other		523,007			(16,620	)		23,742			254,937		(11,369	)		(57,945	)
Total	$	2,405,397		$	—		$	701,624		$	1,445,061	$	—		$	362,174


	Average Total Assets
	Three Months Ended March 31				Year Ended December 31
	2023		2022		2022
	(In millions)

Business Banking	$	7,825	$	6,568	$	7,597
Commercial Banking (b)		48,222		26,329		40,930
Commercial Real Estate (b)		32,171		23,939		30,599
Discretionary Portfolio		50,501		22,899		42,657
Residential Mortgage Banking		2,605		6,250		3,986
Retail Banking		21,421		18,610		20,312
All Other		39,854		47,053		44,171
Total	$	202,599	$	151,648	$	190,252

(a)

(b)

Earnings Per Common Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	1,367,054	114,226

Significant accounting policies (Policies)	3 Months Ended
Significant accounting policies (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting	The consolidated interim financial statements of M&T Bank Corporation (“M&T”) and subsidiaries (“the Company”) were compiled in accordance with generally accepted accounting principles (“GAAP”) using the accounting policies set forth in note 1 of Notes to Financial Statements included in Form 10-K for the year ended December 31, 2022 (“2022 Annual Report”), except as disclosed in note 16 of Notes to Financial Statements herein. The financial statements contain all adjustments which are, in the opinion of management, necessary for a fair statement of the Company's financial position, results of operations and cash flows for the interim periods presented.

Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Investment securities available for sale, amortized cost	$ 11,393,916	$ 11,193,152
Investment securities available for sale, gross unrealized gains	3,070	515
Investment securities available for sale, gross unrealized losses	358,064	444,706
Investment securities available for sale, estimated fair value	11,038,922	10,748,961
Amortized cost for held to maturity	16,201,571	13,529,969
Gross unrealized gains for held to maturity	20,949	10,288
Gross unrealized losses for held to maturity	1,018,059	1,164,837
Estimated fair value for held to maturity	15,204,461	12,375,420
Equity and other securities, Amortized Cost	1,204,957	933,766
Equity securities, Gross Unrealized Gains	1,821	2,120
Equity securities, Gross Unrealized Losses	4,062	3,945
Equity and other securities, Estimated Fair Value	1,202,716	931,941
Other securities, Amortized cost	907,496	780,483
Other securities, Estimated fair value	907,496	780,483
Total debt securities Amortized cost	27,595,487	24,723,121
Total debt securities Gross unrealized gains	24,019	10,803
Total debt securities Gross unrealized losses	1,376,123	1,609,543
Total debt securities Estimated fair value	26,243,383	23,124,381
Readily marketable securities Amortized cost	297,461	153,283
Readily marketable securities Gross unrealized gains	1,821	2,120
Readily marketable securities Gross unrealized losses	4,062	3,945
Readily marketable securities Estimated fair value	295,220	151,458
U.S. Treasury and Federal Agencies [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Investment securities available for sale, amortized cost	7,918,648	7,913,932
Investment securities available for sale, gross unrealized gains	1,378	200
Investment securities available for sale, gross unrealized losses	187,327	243,172
Investment securities available for sale, estimated fair value	7,732,699	7,670,960
Amortized cost for held to maturity	1,056,675	1,054,035
Gross unrealized losses for held to maturity	35,427	45,747
Estimated fair value for held to maturity	1,021,248,000	1,008,288
Obligations of States and Political Subdivisions [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Amortized cost for held to maturity	2,564,095	2,577,078
Gross unrealized gains for held to maturity	36	4
Gross unrealized losses for held to maturity	72,224	116,512
Estimated fair value for held to maturity	2,491,907	2,460,570
Commercial [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Investment securities available for sale, amortized cost	664,788	594,779
Investment securities available for sale, gross unrealized gains	465
Investment securities available for sale, gross unrealized losses	17,059	20,480
Investment securities available for sale, estimated fair value	648,194	574,299
Amortized cost for held to maturity	2,027,911	912,431
Gross unrealized losses for held to maturity	106,970	103,528
Estimated fair value for held to maturity	1,920,941	808,903
Residential [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Investment securities available for sale, amortized cost	2,634,142	2,501,334
Investment securities available for sale, gross unrealized gains	1,011	65
Investment securities available for sale, gross unrealized losses	141,448	171,281
Investment securities available for sale, estimated fair value	2,493,705	2,330,118
Amortized cost for held to maturity	10,503,208	8,934,918
Gross unrealized gains for held to maturity	11,462	1,451
Gross unrealized losses for held to maturity	796,479	891,063
Estimated fair value for held to maturity	9,718,191	8,045,306
Other Debt Securities [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Investment securities available for sale, amortized cost	176,338	183,107
Investment securities available for sale, gross unrealized gains	216	250
Investment securities available for sale, gross unrealized losses	12,230	9,773
Investment securities available for sale, estimated fair value	164,324	173,584
Amortized cost for held to maturity	1,726	1,765
Estimated fair value for held to maturity	1,726	1,765
Privately Issued [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Amortized cost for held to maturity	47,956	49,742
Gross unrealized gains for held to maturity	9,451	8,833
Gross unrealized losses for held to maturity	6,959	7,987
Estimated fair value for held to maturity	$ 50,448	$ 50,588

Loans and Leases and the Allowance for Credit Losses - Summary of loans in Accrual and Nonaccrual Status (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	$ 1,891,910	$ 1,779,054
Accruing Loans Past Due 90 Days or More	407,457	491,018
Nonaccrual	2,556,799	2,438,435
Loans and leases, net of unearned discount	132,937,692	131,564,163
Gross charge-offs	94,939
Revolving Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	26,700,228	26,197,545
Gross charge-offs	3,597
Revolving Loans Converted to Term Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	1,651,876	1,664,096
Gross charge-offs	704
Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	496,225	595,897
Accruing Loans Past Due 90 Days or More	292,950	345,402
Nonaccrual	253,646	272,090
Loans and leases, net of unearned discount	22,769,784	22,704,895
Gross charge-offs	1,565
Residential [Member] \| Revolving Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	2,062	499
Nonaccrual	6,888	7,353
Loans and leases, net of unearned discount	33,201	38,292
Residential Limited Documentation [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	26,046	22,456
Nonaccrual	68,935	77,814
Loans and leases, net of unearned discount	1,020,161	1,051,052
Gross charge-offs	136
Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	26,679	30,787
Nonaccrual	80,766	84,788
Loans and leases, net of unearned discount	4,859,267	5,006,886
Gross charge-offs	2,033
Home Equity Lines and Loans [Member] \| Revolving Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Nonaccrual	1,880	2,799
Loans and leases, net of unearned discount	3,140,473	3,265,332
Gross charge-offs	1,298
Home Equity Lines and Loans [Member] \| Revolving Loans Converted to Term Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	25,025	28,460
Nonaccrual	70,696	74,646
Loans and leases, net of unearned discount	1,575,800	1,590,440
Gross charge-offs	704
Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	48,448	54,593
Nonaccrual	34,186	44,630
Loans and leases, net of unearned discount	9,149,221	9,073,394
Gross charge-offs	14,821
Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	35,270	44,486
Nonaccrual	26,842	39,584
Loans and leases, net of unearned discount	4,311,147	4,477,276
Gross charge-offs	6,711
Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	16,686	22,961
Accruing Loans Past Due 90 Days or More	4,977	4,869
Nonaccrual	47,183	49,497
Loans and leases, net of unearned discount	1,997,210	2,035,523
Gross charge-offs	20,286
Other [Member] \| Revolving Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	10,045	15,655
Accruing Loans Past Due 90 Days or More	4,779	4,643
Nonaccrual	43,631	44,449
Loans and leases, net of unearned discount	1,396,185	1,439,796
Gross charge-offs	20
Other [Member] \| Revolving Loans Converted to Term Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	544	651
Nonaccrual	116	185
Loans and leases, net of unearned discount	6,517	9,057
Current [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	128,081,526	126,855,656
Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	21,726,963	21,491,506
Current [Member] \| Residential [Member] \| Revolving Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	24,251	30,440
Current [Member] \| Residential Limited Documentation [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	925,180	950,782
Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	4,751,822	4,891,311
Current [Member] \| Home Equity Lines and Loans [Member] \| Revolving Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	3,138,593	3,262,533
Current [Member] \| Home Equity Lines and Loans [Member] \| Revolving Loans Converted to Term Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,480,079	1,487,334
Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	9,066,587	8,974,171
Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	4,249,035	4,393,206
Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,928,364	1,958,196
Current [Member] \| Other [Member] \| Revolving Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,337,730	1,375,049
Current [Member] \| Other [Member] \| Revolving Loans Converted to Term Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	5,857	8,221
Term Loans 2023 [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	5,212,148
Gross charge-offs	1,019
Term Loans 2023 [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	1,408
Loans and leases, net of unearned discount	498,546
Term Loans 2023 [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	172
Term Loans 2023 [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	280
Loans and leases, net of unearned discount	521,800
Term Loans 2023 [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	397
Loans and leases, net of unearned discount	253,507
Term Loans 2023 [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	2,119
Nonaccrual	1,711
Loans and leases, net of unearned discount	76,354
Gross charge-offs	912
Term Loans 2023 [Member] \| Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	497,138
Term Loans 2023 [Member] \| Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	172
Term Loans 2023 [Member] \| Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	521,520
Term Loans 2023 [Member] \| Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	253,110
Term Loans 2023 [Member] \| Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	72,524
Term Loans 2022 [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	24,189,798	24,853,925
Gross charge-offs	16,841
Term Loans 2022 [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	55,995	59,477
Accruing Loans Past Due 90 Days or More	14,957	12,012
Nonaccrual	7,087	5,686
Loans and leases, net of unearned discount	5,134,638	5,148,554
Gross charge-offs	75
Term Loans 2022 [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	33	930
Term Loans 2022 [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	8,378	8,648
Nonaccrual	2,875	3,533
Loans and leases, net of unearned discount	2,722,698	2,854,272
Gross charge-offs	2,369
Term Loans 2022 [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	6,688	6,926
Nonaccrual	2,669	2,493
Loans and leases, net of unearned discount	1,423,472	1,500,495
Gross charge-offs	1,636
Term Loans 2022 [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	1,617	3,783
Nonaccrual	588	2,745
Loans and leases, net of unearned discount	248,635	281,058
Gross charge-offs	8,657
Term Loans 2022 [Member] \| Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	5,056,599	5,071,379
Term Loans 2022 [Member] \| Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	33	930
Term Loans 2022 [Member] \| Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	2,711,445	2,842,091
Term Loans 2022 [Member] \| Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,414,115	1,491,076
Term Loans 2022 [Member] \| Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	246,430	274,530
Term Loans 2021 [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	18,024,543	18,747,757
Gross charge-offs	11,336
Term Loans 2021 [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	50,487	51,308
Accruing Loans Past Due 90 Days or More	28,430	39,934
Nonaccrual	12,270	10,865
Loans and leases, net of unearned discount	4,059,202	4,103,759
Gross charge-offs	115
Term Loans 2021 [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	10
Nonaccrual	15	15
Loans and leases, net of unearned discount	2,032	2,124
Term Loans 2021 [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	9,892	9,525
Nonaccrual	6,473	7,440
Loans and leases, net of unearned discount	2,187,565	2,297,592
Gross charge-offs	3,013
Term Loans 2021 [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	10,828	13,324
Nonaccrual	8,430	10,698
Loans and leases, net of unearned discount	1,439,088	1,581,698
Gross charge-offs	2,068
Term Loans 2021 [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	1,336	1,450
Nonaccrual	535	830
Loans and leases, net of unearned discount	158,530	174,518
Gross charge-offs	2,735
Term Loans 2021 [Member] \| Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	3,968,015	4,001,652
Term Loans 2021 [Member] \| Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	2,007	2,109
Term Loans 2021 [Member] \| Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	2,171,200	2,280,627
Term Loans 2021 [Member] \| Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,419,830	1,557,676
Term Loans 2021 [Member] \| Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	156,659	172,238
Term Loans 2020 [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	12,395,896	13,072,920
Gross charge-offs	8,323
Term Loans 2020 [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	25,710	40,337
Accruing Loans Past Due 90 Days or More	17,231	20,067
Nonaccrual	2,528	2,583
Loans and leases, net of unearned discount	2,768,139	2,780,358
Gross charge-offs	21
Term Loans 2020 [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	55
Loans and leases, net of unearned discount	2,320	2,441
Term Loans 2020 [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	9,833	12,412
Nonaccrual	7,112	9,427
Loans and leases, net of unearned discount	1,528,415	1,609,468
Gross charge-offs	2,985
Term Loans 2020 [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	5,844	7,284
Nonaccrual	4,674	7,372
Loans and leases, net of unearned discount	636,138	717,367
Gross charge-offs	1,169
Term Loans 2020 [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	198	326
Nonaccrual	195	332
Loans and leases, net of unearned discount	51,433	58,997
Gross charge-offs	1,395
Term Loans 2020 [Member] \| Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	2,722,670	2,717,371
Term Loans 2020 [Member] \| Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	2,265	2,441
Term Loans 2020 [Member] \| Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,511,470	1,587,629
Term Loans 2020 [Member] \| Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	625,620	702,711
Term Loans 2020 [Member] \| Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	51,040	58,339
Term Loans 2019 [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	12,015,988	12,737,602
Gross charge-offs	33,711
Term Loans 2019 [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	19,711	21,849
Accruing Loans Past Due 90 Days or More	11,726	14,050
Nonaccrual	8,859	9,860
Loans and leases, net of unearned discount	1,400,328	1,438,625
Gross charge-offs	68
Term Loans 2019 [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	26	171
Nonaccrual	65	536
Loans and leases, net of unearned discount	15,159	16,068
Term Loans 2019 [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	7,475	8,387
Nonaccrual	5,256	7,625
Loans and leases, net of unearned discount	931,315	979,919
Gross charge-offs	2,412
Term Loans 2019 [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	5,330	7,239
Nonaccrual	4,445	7,520
Loans and leases, net of unearned discount	338,281	393,721
Gross charge-offs	957
Term Loans 2019 [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	272	386
Nonaccrual	149	371
Loans and leases, net of unearned discount	31,978	39,196
Gross charge-offs	1,581
Term Loans 2019 [Member] \| Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,360,032	1,392,866
Term Loans 2019 [Member] \| Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	15,068	15,361
Term Loans 2019 [Member] \| Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	918,584	963,907
Term Loans 2019 [Member] \| Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	328,506	378,962
Term Loans 2019 [Member] \| Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	31,557	38,439
Term Loans 2018 [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount		7,534,367
Term Loans 2018 [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due		23,126
Accruing Loans Past Due 90 Days or More		14,007
Nonaccrual		4,650
Loans and leases, net of unearned discount		795,691
Term Loans 2018 [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due		126
Nonaccrual		334
Loans and leases, net of unearned discount		23,781
Term Loans 2018 [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due		5,202
Nonaccrual		5,344
Loans and leases, net of unearned discount		497,510
Term Loans 2018 [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due		5,464
Nonaccrual		5,620
Loans and leases, net of unearned discount		178,522
Term Loans 2018 [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due		141
Nonaccrual		120
Loans and leases, net of unearned discount		8,478
Term Loans 2018 [Member] \| Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		753,908
Term Loans 2018 [Member] \| Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		23,321
Term Loans 2018 [Member] \| Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		486,964
Term Loans 2018 [Member] \| Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		167,438
Term Loans 2018 [Member] \| Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans		8,217
Term Loans Prior Period [Member]
Financing Receivable Recorded Investment [Line Items]
Loans and leases, net of unearned discount	32,747,215	26,755,951
Gross charge-offs	19,408
Term Loans Prior Period [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	340,852	399,301
Accruing Loans Past Due 90 Days or More	220,606	245,332
Nonaccrual	216,014	231,093
Loans and leases, net of unearned discount	8,875,730	8,399,616
Gross charge-offs	1,286
Term Loans Prior Period [Member] \| Residential Limited Documentation [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	26,046	22,456
Nonaccrual	68,935	77,814
Loans and leases, net of unearned discount	1,020,161	1,051,052
Gross charge-offs	136
Term Loans Prior Period [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	1,563	2,030
Nonaccrual	8,110	6,458
Loans and leases, net of unearned discount	123,278	105,770
Gross charge-offs	31
Term Loans Prior Period [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	12,590	10,419
Nonaccrual	12,470	11,261
Loans and leases, net of unearned discount	1,257,428	834,633
Gross charge-offs	4,042
Term Loans Prior Period [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	6,183	4,249
Nonaccrual	6,624	5,881
Loans and leases, net of unearned discount	220,661	105,473
Gross charge-offs	881
Term Loans Prior Period [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
30-89 Days Past Due	555	569
Accruing Loans Past Due 90 Days or More	198	226
Nonaccrual	258	465
Loans and leases, net of unearned discount	27,578	24,423
Gross charge-offs	4,986
Term Loans Prior Period [Member] \| Current [Member] \| Residential [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	8,098,258	7,523,890
Term Loans Prior Period [Member] \| Current [Member] \| Residential Limited Documentation [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	925,180	950,782
Term Loans Prior Period [Member] \| Current [Member] \| Home Equity Lines and Loans [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	113,605	97,282
Term Loans Prior Period [Member] \| Current [Member] \| Recreational Finance [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	1,232,368	812,953
Term Loans Prior Period [Member] \| Current [Member] \| Automobile [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	207,854	95,343
Term Loans Prior Period [Member] \| Current [Member] \| Other [Member]
Financing Receivable Recorded Investment [Line Items]
Total loans	$ 26,567	$ 23,163