0000950170-23-039814 | 10-Q | XBRL Viewer

Common stock awards converted

200,784

579,696

(378,912)

Common stock issued

8,286,515

9,824

3,256,821

5,019,870

104,810

Conversion of Series H preferred stock

260,600

Purchases of treasury stock

^[1]

(46,706)

(600,000)

55,281

^[2]

(122)

^[2]

(9,750)

^[2]

(643)

^[2]

65,773

^[2]

Ending balance at Jun. 30, 2022

(370,158)

25,794,531

2,010,600

89,718

1,090

9,986,881

14,808,637

(506,490)

(595,905)

Beginning 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)

Common stock awards converted

88,417

217,522

(129,105)

Common stock issued

8,286,515

9,824

3,256,821

5,019,870

104,810

Conversion of Series H preferred stock

260,600

Purchases of treasury stock

^[1]

(24,941)

^[2]

(600,000)

17,412

13,591

(313)

4,095

Ending balance at Jun. 30, 2022

(214,302)

25,794,531

2,010,600

89,718

1,090

9,986,881

14,808,637

(506,490)

(595,905)

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)

1,493,888

1,568,658

(74,770)

Purchases of treasury stock

^[1]

(49,881)

^[2]

(599,940)

^[2]

73,875

(140)

(2,556)

(946)

77,517

Ending balance at Jun. 30, 2023

(434,999)

25,800,933

2,010,600

89,718

972

10,000,335

16,836,810

(864,800)

(2,272,702)

Beginning 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)

647,239

867,034

(219,795)

^[1]

(24,940)

^[2]

18,367

14,010

(475)

4,817

Ending balance at Jun. 30, 2023

(216,904)

$ 25,800,933

$ 2,010,600

$ 89,718

$ 972

$ 10,000,335

$ 16,836,810

$ (864,800)

$ (2,272,702)

[1]

For the three-month and six-month periods ended June 30, 2023, dividends per preferred share were: Preferred Series E - $16.125 and $32.25, respectively; Preferred Series F - $128.125 and $256.25, respectively; Preferred Series G - $125.00 and $250.00, respectively; Preferred Series H - $0.3516 and $0.7031, respectively; and Preferred Series I - $87.50 and $175.00, respectively. Dividends per preferred share for the three-month and six-month periods ended June 30, 2022 were: Preferred Series E - $16.125 and $32.25, respectively; Preferred Series F - $128.125 and $256.25, respectively; Preferred Series G - $125.00 and $250.00, respectively; and Preferred Series I - $87.50. and $181.81, respectively.

[2]

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

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Jan. 01, 2023	Mar. 31, 2022	Jan. 01, 2022
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	$ 882,869	$ 1,094,400	$ 882,869	$ 1,094,400
Amortized Cost without Allowance	1,552,712	1,538,605	1,552,712	1,538,605
Total	2,435,581	2,633,005	2,435,581	2,633,005
Amortized Cost					$ 2,556,799	$ 2,438,435	$ 2,134,231	$ 2,060,083
Interest Income Recognized	12,674	15,815	29,537	45,431
Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	162,087	278,396	162,087	278,396
Amortized Cost without Allowance	253,935	164,100	253,935	164,100
Total	416,022	442,496	416,022	442,496
Amortized Cost					382,268	347,204	275,146	221,022
Interest Income Recognized	1,909	2,121	4,188	15,715
Commercial [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	415,685	397,536	415,685	397,536
Amortized Cost without Allowance	967,505	1,079,122	967,505	1,079,122
Total	1,383,190	1,476,658	1,383,190	1,476,658
Amortized Cost					1,516,655	1,396,662	1,157,686	1,069,280
Interest Income Recognized	4,432	1,754	9,933	7,885
Residential Builder and Developer [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	1,193	518	1,193	518
Total	1,193	518	1,193	518
Amortized Cost					3,303	1,229	2,916	3,005
Interest Income Recognized	30	259	396	1,687
Other Commercial Construction [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	44,489	36,345	44,489	36,345
Amortized Cost without Allowance	101,535	36,701	101,535	36,701
Total	146,024	73,046	146,024	73,046
Amortized Cost					143,015	124,937	50,855	111,405
Interest Income Recognized	63	2,750	1,725	3,376
Residential [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	91,371	175,019	91,371	175,019
Amortized Cost without Allowance	147,138	156,357	147,138	156,357
Total	238,509	331,376	238,509	331,376
Amortized Cost					253,646	272,090	341,671	355,858
Interest Income Recognized	4,391	6,797	8,767	13,338
Residential Limited Documentation [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	27,013	70,718	27,013	70,718
Amortized Cost without Allowance	39,601	41,890	39,601	41,890
Total	66,614	112,608	66,614	112,608
Amortized Cost					68,935	77,814	123,512	122,888
Interest Income Recognized	96	31	260	227
Home Equity Lines and Loans [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	48,513	30,328	48,513	30,328
Amortized Cost without Allowance	28,577	49,117	28,577	49,117
Total	77,090	79,445	77,090	79,445
Amortized Cost					80,766	84,788	71,489	70,488
Interest Income Recognized	1,458	1,813	3,679	2,622
Recreational Finance [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	23,005	26,530	23,005	26,530
Amortized Cost without Allowance	9,281	6,884	9,281	6,884
Total	32,286	33,414	32,286	33,414
Amortized Cost					34,186	44,630	31,546	27,811
Interest Income Recognized	180	161	351	322
Automobile [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	18,275	31,970	18,275	31,970
Amortized Cost without Allowance	3,516	4,296	3,516	4,296
Total	21,791	36,266	21,791	36,266
Amortized Cost					26,842	39,584	35,350	34,037
Interest Income Recognized	36	37	71	75
Other [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost with Allowance	51,238	47,040	51,238	47,040
Amortized Cost without Allowance	1,624	138	1,624	138
Total	52,862	47,178	52,862	47,178
Amortized Cost					$ 47,183	$ 49,497	$ 44,060	$ 44,289
Interest Income Recognized	$ 79	$ 92	$ 167	$ 184

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

Jun. 30, 2023

Mar. 31, 2023

Jan. 01, 2023

Jun. 30, 2022

Mar. 31, 2022

Jan. 01, 2022

Unpaid principal balance

$ 2,435,581

$ 2,633,005

Allowance for credit losses at acquisition

$ (2,556,799)

$ (2,438,435)

$ (2,134,231)

$ (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)

Non PCD Acquired Loans [Member]

(106,814)

Fair value

3,204,692

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

Unpaid principal balance

32,896,454

^[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.

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Uncollected amounts receivable	$ 63	$ 74
Accrued interest and other liabilities [Member]
Disaggregation Of Revenue [Line Items]
Deferred revenue	$ 49	$ 48

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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

Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives not designated as hedging instruments, Derivatives	$ 14,313	$ 10,301	$ 25,861	$ 17,200
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	$ (46,429)	$ (20,683)	$ (34,392)	$ (63,956)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense	Other Noninterest Expense
Derivatives in fair value hedging relationships, Hedged item	$ 47,202	$ 20,762	$ (35,183)	$ 63,760
Interest Rate Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives not designated as hedging instruments, Derivatives	11,153	5,808	18,716	10,961
Foreign Exchange and Other Option and Futures Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives not designated as hedging instruments, Derivatives	$ 3,160	$ 4,493	$ 7,145	$ 6,239

Loans and Leases and the Allowance for Credit Losses - Summary of Payment Status of Loans Modified (Parenthetical) (Details)
$ in Thousands

Jun. 30, 2023

USD ($)

$ 20,816

Guaranteed by Government-Related Entities [Member]

6,283

^[1]

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

11,000

Net Periodic Defined Benefit Cost for Defined Benefit Plans

$ 4,000

[1]	Predominantly loan modifications with payment deferrals.

Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P. - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Loan facility carrying amount	$ 7,416,638,000		$ 7,416,638,000		$ 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		$ 0
Minority interest in Bayview Lending Group LLC	20.00%		20.00%
Bayview Lending Group [Member] \| Other Revenues From Operations [Member]
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments	$ 0	$ 0	$ 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	1,300,000,000		1,300,000,000		1,400,000,000
Revenue from contract with customer	2,000,000	2,000,000	3,000,000	4,000,000
Bayview Financial [Member]
Schedule of Equity Method Investments [Line Items]
Outstanding principal balances of residential mortgage loans from Bayview Financial	112,800,000,000		112,800,000,000		96,000,000,000
Revenues from sub-servicing	32,000,000	$ 44,000,000	64,000,000	$ 86,000,000
Investment securities in held-to-maturity portfolio securitized by Bayview Financial	47,000,000		47,000,000		$ 50,000,000
Bayview Financial [Member] \| Syndicated Loan Facility [Member]
Schedule of Equity Method Investments [Line Items]
Loan facility carrying amount	2,400,000,000		2,400,000,000
Bayview Financial [Member] \| Syndicated Loan Facility [Member] \| M&T Bank [Member]
Schedule of Equity Method Investments [Line Items]
Loan facility carrying amount	$ 481,000,000		$ 481,000,000

Pension plans and other postretirement benefits (Tables)

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

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 June 30
	2023			2022			2023			2022
	(In thousands)

Service cost	$	2,952		$	4,543		$	410		$	993
Interest cost on projected benefit obligation		28,888			22,080			662			671
Expected return on plan assets		(50,230	)		(50,083	)		—			—
Amortization of prior service cost (credit)		53			133			(505	)		(311	)
Amortization of net actuarial loss (gain)		(173	)		5,322			(734	)		(416	)
Net periodic cost (benefit)	$	(18,510	)	$	(18,005	)	$	(167	)	$	937


	Pension Benefits						Other Postretirement Benefits
	Six Months Ended June 30
	2023			2022			2023			2022
	(In thousands)

Service cost	$	5,675		$	8,814		$	800		$	1,225
Interest cost on projected benefit obligation		57,723			38,347			1,406			1,026
Expected return on plan assets		(100,630	)		(87,233	)		—			—
Amortization of prior service cost (credit)		103			258			(1,030	)		(1,386	)
Amortization of net actuarial loss (gain)		(1,073	)		9,947			(1,384	)		(741	)
Net periodic cost (benefit)	$	(38,202	)	$	(29,867	)	$	(208	)	$	124

Pension Plans and Other Postretirement Benefits - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Retirement Benefits [Abstract]
Defined contribution pension and retirement savings plans total expense	$ 36	$ 35	$ 80	$ 66

Commitments and contingencies (Tables)

6 Months Ended

Jun. 30, 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.


	June 30,		December 31,
	2023		2022
	(In thousands)
Commitments to extend credit
Home equity lines of credit	$	8,227,815	$	8,261,560
Commercial real estate loans to be sold		309,771		348,701
Other commercial real estate		6,440,726		5,776,116
Residential real estate loans to be sold		242,739		31,208
Other residential real estate		390,880		505,121
Commercial and other		33,148,044		32,625,840
Standby letters of credit		2,379,057		2,376,644
Commercial letters of credit		65,564		65,066
Financial guarantees and indemnification contracts		4,081,370		4,022,432
Commitments to sell real estate loans		1,025,385		533,458

Earnings Per Common Share - Computations of Basic Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income available to common shareholders:
Net Income (Loss)	$ 867,034	$ 217,522	$ 1,568,658	$ 579,696
Less: Preferred stock dividends	(24,940)	(24,941)	(49,881)	(46,706)
Net income available to common equity	842,094	192,581	1,518,777
Less: Income attributable to unvested stock-based compensation awards	(1,574)	(345)	(2,731)	(1,076)
Net income available to common shareholders	$ 840,520	$ 192,236	$ 1,516,046	$ 531,914
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards	166,152	177,682	167,076	153,612
Less: Unvested stock-based compensation awards	(310)	(315)	(294)	(322)
Weighted-average shares outstanding	165,842	177,367	166,782	153,290
Basic earnings per common share	$ 5.07	$ 1.08	$ 9.09	$ 3.47

Revenue from contracts with customers

6 Months Ended

Jun. 30, 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 June 30, 2023 and December 31, 2022, the Company had $63 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 June 30, 2023 and December 31, 2022, the Company had deferred revenue of $49 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 June 30, 2023	(In thousands)

Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	20,878		30,230		4,426		—		—		61,678		1,485	$	118,697
Trust income		19		—		—		—		—		—		172,444		172,463
Brokerage services income		—		—		—		—		—		—		25,126		25,126
Other revenues from operations:
Merchant discount and credit card fees		16,927		17,771		1,148		—		—		6,189		327		42,362
Other		—		5,931		1,332		17		211		7,668		1,127		16,286
	$	37,824		53,932		6,906		17		211		75,535		200,509	$	374,934

Three Months Ended June 30, 2022

Classification in Consolidated Statement of Income

Service charges on deposit accounts	$	19,623		29,829		3,742		—		—		68,420		2,556	$	124,170
Trust income		—		—		—		—		—		—		190,084		190,084
Brokerage services income		—		—		—		—		—		—		24,138		24,138
Other revenues from operations:
Merchant discount and credit card fees		16,835		16,854		858		—		—		8,024		278		42,849
Other		—		1,259		3,803		871		1,126		7,673		11,758		26,490
	$	36,458		47,942		8,403		871		1,126		84,117		228,814	$	407,731


	Business Banking		Commercial Banking		Commercial Real Estate		Discretionary Portfolio		Residential Mortgage Banking		Retail Banking		All Other		Total
Six Months Ended June 30, 2023	(In thousands)

Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	40,348		58,703		8,612		—		—		121,130		3,450	$	232,243
Trust income		29		—		—		—		—		—		366,236		366,265
Brokerage services income		—		—		—		—		—		—		49,167		49,167
Other revenues from operations:
Merchant discount and credit card fees		31,185		33,562		2,235		—		—		11,550		632		79,164
Other		—		10,602		2,518		38		551		15,074		2,157		30,940
	$	71,562		102,867		13,365		38		551		147,754		421,642	$	757,779
Six Months Ended June 30, 2022

Classification in Consolidated Statement of Income
Service charges on deposit accounts	$	34,304		55,400		7,220		—		—		124,767		3,986	$	225,677
Trust income		—		—		—		—		—		—		359,297		359,297
Brokerage services income		—		—		—		—		—		—		44,328		44,328
Other revenues from operations:
Merchant discount and credit card fees		29,640		30,313		1,732		—		—		12,534		385		74,604
Other		—		3,162		6,267		1,564		2,855		12,772		24,649		51,269
	$	63,944		88,875		15,219		1,564		2,855		150,073		432,645	$	755,175

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

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

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

3 Months Ended

6 Months Ended

Jun. 30, 2023

Financing receivable, modifications other than troubled debt restructuring

^[1]

$ 347,821

$ 640,328

Guaranteed by Government-Related Entities [Member]

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

Financing receivable, modifications other than troubled debt restructuring

$ 25,000

$ 48,000

[1]	Includes approximately $25 million and $48 million, respectively, of loans guaranteed by government-related entities (predominantly first lien residential mortgage loans) for the three-month and six-month periods ended June 30, 2023.

Fair value measurements

6 Months Ended

Jun. 30, 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 June 30, 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.

12. Fair value measurements, continued

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.

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.

12. Fair value measurements, continued

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.

The following tables present assets and liabilities at June 30, 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)
June 30, 2023
Trading account	$	137,240	$	137,240	$	—	$	—
Investment securities available for sale:
U.S. Treasury and federal agencies		7,692,452		—		7,692,452		—
Mortgage-backed securities:
Government issued or guaranteed
Commercial		614,963		—		614,963		—
Residential		2,340,028		—		2,340,028		—
Other debt securities		160,216		—		160,216		—
		10,807,659		—		10,807,659		—
Equity securities		218,168		211,341		6,827		—
Real estate loans held for sale		538,306		—		538,306		—
Other assets (a)		374,790		—		371,653		3,137
Total assets	$	12,076,163	$	348,581	$	11,724,445	$	3,137
Other liabilities (a)		1,295,532		—		1,255,217		40,315
Total liabilities	$	1,295,532	$	—	$	1,255,217	$	40,315

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).

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 June 30, 2023 and 2022 were as follows:


	Other Assets and Other Liabilities
2023	(In thousands)

Balance — April 1, 2023	$	(28,141	)
Total losses realized/unrealized:
Included in earnings		(895	)	(a)
Transfers out of Level 3		(8,142	)	(b)
Balance — June 30, 2023	$	(37,178	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2023	$	(2,102	)	(a)

2022

Balance — April 1, 2022	$	(15,428	)
Total losses realized/unrealized:
Included in earnings		(6,609	)	(a)
Transfers out of Level 3		(2,144	)	(b)
Balance — June 30, 2022	$	(24,181	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2022	$	(8,441	)	(a)

The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the six months ended June 30, 2023 and 2022 were as follows:


	Other Assets and Other Liabilities
	(In thousands)
2023
Balance — January 1, 2023	$	(45,573	)
Total gains realized/unrealized:
Included in earnings		16,456		(a)
Transfers out of Level 3		(8,061	)	(b)
Balance — June 30, 2023	$	(37,178	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2023	$	10,543		(a)

2022
Balance — January 1, 2022	$	6,440
Total losses realized/unrealized:
Included in earnings		(25,309	)	(a)
Transfers out of Level 3		(5,312	)	(b)
Balance — June 30, 2022	$	(24,181	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2022	$	3,405		(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 10% to 90% with a weighted-average of 47% at June 30, 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 June 30, 2023 was 54%. 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 $652 million at June 30, 2023 ($297 million and $355 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 $761 million at June 30, 2022 ($424 million and $337 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 June 30, 2023 were decreases of $101 million and $177 million for the three-month and six-month periods ended June 30, 2023, respectively. Changes in the fair value recognized for partial charge-offs of loans and loan impairment reserves on loans held by the Company on June 30, 2022 were decreases of $73 million and $117 million for the three-month and six-month periods ended June 30, 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 each of June 30, 2023 and 2022. Changes in fair value recognized for those foreclosed assets held by the Company were not material during the three-month and six-month periods ended June 30, 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 required no valuation allowance at June 30, 2023 and December 31, 2022. A reduction of the valuation allowance of $11 million and $14 million was recognized for the three-month and six-month periods ended June 30, 2022, respectively.

Significant unobservable inputs to Level 3 measurements

The following table presents quantitative information about significant unobservable inputs used in the fair value measurements for certain Level 3 assets and liabilities at June 30, 2023 and December 31, 2022:


	Fair Value			Valuation Technique	Unobservable Inputs / Assumptions	Range (Weighted- Average)
	(In thousands)
June 30, 2023
Recurring fair value measurements
Net other assets (liabilities) (a)	$	(37,178	)	Discounted cash flow	Commitment expirations	0% - 97% (10%)

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:


	June 30, 2023
	Carrying Amount			Estimated Fair Value			Level 1		Level 2			Level 3
	(In thousands)
Financial assets:
Cash and cash equivalents	$	1,848,386			1,848,386			1,780,005		68,381			—
Interest-bearing deposits at banks		27,106,899			27,106,899			—		27,106,899			—
Trading account		137,240			137,240			137,240		—			—
Investment securities		27,916,455			26,711,845			211,341		26,451,387			49,117
Loans and leases:
Commercial loans and leases		44,683,549			43,817,470			—		—			43,817,470
Commercial real estate loans		44,648,711			42,386,809			—		322,029			42,064,780
Residential real estate loans		23,762,217			21,800,553			—		7,256,914			14,543,639
Consumer loans		20,249,252			19,335,779			—		—			19,335,779
Allowance for credit losses		(1,998,366	)		—			—		—			—
Loans and leases, net		131,345,363			127,340,611			—		7,578,943			119,761,668
Accrued interest receivable		695,030			695,030			—		695,030			—
Financial liabilities:
Noninterest-bearing deposits	$	(54,937,913	)		(54,937,913	)		—		(54,937,913	)		—
Savings and interest-checking deposits		(88,046,247	)		(88,046,247	)		—		(88,046,247	)		—
Time deposits		(19,074,220	)		(18,968,171	)		—		(18,968,171	)		—
Short-term borrowings		(7,907,884	)		(7,907,884	)		—		(7,907,884	)		—
Long-term borrowings		(7,416,638	)		(7,091,668	)		—		(7,091,668	)		—
Accrued interest payable		(389,251	)		(389,251	)		—		(389,251	)		—
Other financial instruments:
Commitments to originate real estate loans for sale	$	(37,178	)		(37,178	)		—		—			(37,178	)
Commitments to sell real estate loans		54,533			54,533			—		54,533			—
Other credit-related commitments		(155,903	)		(155,903	)		—		—			(155,903	)
Interest rate swap agreements used for interest rate risk management		2,133			2,133			—		2,133			—
Interest rate and foreign exchange contracts not designated as hedging instruments		(940,230	)		(940,230	)		—		(940,230	)		—

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.

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.

Significant accounting policies	6 Months Ended
Significant accounting policies	Jun. 30, 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	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	$ 1,656,111	$ 1,779,054
Accruing Loans Past Due 90 Days or More	380,079	491,018
Nonaccrual	2,435,581	2,438,435
Loans and leases, net of unearned discount	133,343,729	131,564,163
Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	128,871,958	126,855,656
Commercial, Financial, Leasing, etc. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	289,931	448,462
Accruing Loans Past Due 90 Days or More	38,039	72,502
Nonaccrual	416,022	347,204
Loans and leases, net of unearned discount	44,683,549	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	43,939,557	40,982,398
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	450,072	311,188
Accruing Loans Past Due 90 Days or More	37,542	67,696
Nonaccrual	1,383,190	1,396,662
Loans and leases, net of unearned discount	36,732,086	36,748,173
Commercial [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	34,861,282	34,972,627
Residential Builder and Developer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	18,745	8,703
Nonaccrual	1,193	1,229
Loans and leases, net of unearned discount	1,135,311	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	1,115,373	1,304,798
Other Commercial Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	154,908	239,521
Accruing Loans Past Due 90 Days or More	15,124	549
Nonaccrual	146,024	124,937
Loans and leases, net of unearned discount	6,781,314	7,301,668
Other Commercial Construction [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	6,465,258	6,936,661
Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	581,806	595,897
Accruing Loans Past Due 90 Days or More	284,410	345,402
Nonaccrual	238,509	272,090
Loans and leases, net of unearned discount	22,771,049	22,704,895
Residential [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	21,666,324	21,491,506
Residential Limited Documentation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due	23,945	22,456
Nonaccrual	66,614	77,814
Loans and leases, net of unearned discount	991,168	1,051,052
Residential Limited Documentation [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	900,609	950,782
Home Equity Lines and Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,669,522
30-89 Days Past Due	26,478	30,787
Nonaccrual	77,090	84,788
Loans and leases, net of unearned discount	4,773,090	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	4,669,522	4,891,311
Recreational Finance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	9,171,034
30-89 Days Past Due	53,483	54,593
Nonaccrual	32,286	44,630
Loans and leases, net of unearned discount	9,256,803	9,073,394
Recreational Finance [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	9,171,034	8,974,171
Automobile [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,020,722
30-89 Days Past Due	40,974	44,486
Nonaccrual	21,791	39,584
Loans and leases, net of unearned discount	4,083,487	4,477,276
Automobile [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	4,020,722	4,393,206
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	2,062,277
30-89 Days Past Due	15,769	22,961
Accruing Loans Past Due 90 Days or More	4,964	4,869
Nonaccrual	52,862	49,497
Loans and leases, net of unearned discount	2,135,872	2,035,523
Other [Member] \| Current [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss	$ 2,062,277	$ 1,958,196

Shareholders' Equity - Issued and Outstanding Preferred Stock (Detail) - USD ($) $ in Thousands	Jun. 30, 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

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Investments, Debt and Equity Securities [Abstract]

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 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			47.00%
Historical recovery rate of collateral values of consumer installment loans			54.00%
Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Discount rates for fair value estimations			10.00%
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	$ 101,000,000	$ 73,000,000	$ 177,000,000	$ 117,000,000
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, valuation allowance			0		$ 0
Valuation Allowances Recorded		(11,000,000)		(14,000,000)
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	652,000,000	761,000,000	652,000,000	761,000,000	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	297,000,000	424,000,000	297,000,000	424,000,000	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	$ 355,000,000	$ 337,000,000	$ 355,000,000	$ 337,000,000	$ 524,000,000

Investment Securities - Additional Information (Detail)	3 Months Ended		6 Months Ended
Investment Securities - Additional Information (Detail)	Jun. 30, 2023 USD ($) Security	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Security	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Summary of Investment Holdings [Line Items]
Gross realized gains(loss) on sale of investment securities	$ 0	$ 0	$ 0	$ 0
Gains (losses) on equity securities	$ 1,004,000	$ (62,000)	$ 588,000	$ (805,000)
Number of debt securities with aggregate gross unrealized losses \| Security	4,281		4,281
Unrealized losses on individual debt securities			$ (1,700,000,000)
Cost method equity securities	$ 973,000,000		973,000,000
Investment securities pledged to secure debt carrying value	6,900,000,000		6,900,000,000		$ 7,900,000,000
Carrying value of investment securities pledged related to repurchase transactions	548,000,000		548,000,000		567,000,000
Available-for-Sale Securities [Member]
Summary of Investment Holdings [Line Items]
Allowance for credit losses	$ 0		$ 0		$ 0

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Investment securities (Tables)

6 Months Ended

Jun. 30, 2023

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)
June 30, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	7,930,292	$	18	$	237,858	$	7,692,452
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		634,961		—		19,998		614,963
Residential		2,506,882		105		166,959		2,340,028
Other debt securities		176,323		111		16,218		160,216
		11,248,458		234		441,033		10,807,659
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,049,342		—		48,391		1,000,951
Obligations of states and political subdivisions		2,549,551		2,009		103,344		2,448,216
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		2,029,755		—		148,315		1,881,440
Residential		10,241,181		—		909,050		9,332,131
Privately issued		46,636		9,249		6,768		49,117
Other debt securities		1,641		—		—		1,641
		15,918,106		11,258		1,215,868		14,713,496
Total debt securities	$	27,166,564	$	11,492	$	1,656,901	$	25,521,155
Equity and other securities:
Readily marketable equity — at fair value	$	219,405	$	2,137	$	3,374	$	218,168
Other — at cost		972,522		—		—		972,522
Total equity and other securities	$	1,191,927	$	2,137	$	3,374	$	1,190,690

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 June 30, 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	$	3,470,536	$	3,391,769
Due after one year through five years		4,576,316		4,410,215
Due after five years through ten years		29,763		26,430
Due after ten years		30,000		24,254
		8,106,615		7,852,668
Mortgage-backed securities available for sale		3,141,843		2,954,991
	$	11,248,458	$	10,807,659
Debt securities held to maturity:
Due in one year or less	$	76,348	$	76,153
Due after one year through five years		1,132,418		1,082,030
Due after five years through ten years		1,191,409		1,162,463
Due after ten years		1,200,359		1,130,162
		3,600,534		3,450,808
Mortgage-backed securities held to maturity		12,317,572		11,262,688
	$	15,918,106	$	14,713,496

Investment Securities in Continuous Unrealized Loss Position

A summary of investment securities that as of June 30, 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)
June 30, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	3,030,061	$	77,628	$	4,657,228	$	160,230
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		84,889		2,187		530,074		17,811
Residential		599,600		25,579		1,718,645		141,380
Other debt securities		5,341		388		149,121		15,830
		3,719,891		105,782		7,055,068		335,251
Investment securities held to maturity:
U.S. Treasury and federal agencies		49,056		966		951,895		47,425
Obligations of states and political subdivisions		585,349		12,092		1,831,988		91,252
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		1,070,875		42,712		810,565		105,603
Residential		2,885,964		62,203		6,446,167		846,847
Privately issued		1,986		82		34,677		6,686
		4,593,230		118,055		10,075,292		1,097,813
Total	$	8,313,121	$	223,837	$	17,130,360	$	1,433,064

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

Loans and Leases and the Allowance for Credit Losses - Loan Modification Activities that were Considered Troubled Debt Restructurings (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($) Modification	Jun. 30, 2022 USD ($) Modification
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	917	1,852
Pre-modification Recorded Investment	$ 77,353	$ 138,809
Loans and leases, net of unearned discount	$ 79,422	$ 141,716
Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	40	77
Pre-modification Recorded Investment	$ 36,983	$ 46,986
Loans and leases, net of unearned discount	$ 38,186	$ 47,940
Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	13	30
Pre-modification Recorded Investment	$ 2,816	$ 10,398
Loans and leases, net of unearned discount	$ 2,784	$ 10,116
Residential [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	67	164
Pre-modification Recorded Investment	$ 18,481	$ 42,532
Loans and leases, net of unearned discount	$ 19,322	$ 44,726
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	33	68
Pre-modification Recorded Investment	$ 2,633	$ 4,783
Loans and leases, net of unearned discount	$ 2,690	$ 4,850
Recreational Finance [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	170	347
Pre-modification Recorded Investment	$ 6,204	$ 12,201
Loans and leases, net of unearned discount	$ 6,204	$ 12,194
Automobile [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	529	1,063
Pre-modification Recorded Investment	$ 9,771	$ 20,034
Loans and leases, net of unearned discount	$ 9,771	$ 20,004
Other [Member]
Financing Receivable, Modifications [Line Items]
Number of modifications \| Modification	65	98
Pre-modification Recorded Investment	$ 465	$ 799
Loans and leases, net of unearned discount	465	799
Principal Deferral [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	66,289	112,467
Principal Deferral [Member] \| Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	31,514	38,434
Principal Deferral [Member] \| Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	1,454	5,830
Principal Deferral [Member] \| Residential [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	14,284	29,727
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	2,597	4,585
Principal Deferral [Member] \| Recreational Finance [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	6,204	12,194
Principal Deferral [Member] \| Automobile [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	9,771	20,004
Principal Deferral [Member] \| Other [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	465	799
Interest Rate Reduction [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	9	9
Interest Rate Reduction [Member] \| Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	9	9
Other [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	700	2,855
Other [Member] \| Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	700	754
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	12,424	26,385
Combination of Concession Types [Member] \| Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	5,963	8,743
Combination of Concession Types [Member] \| Commercial Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	1,330	2,185
Combination of Concession Types [Member] \| Residential [Member]
Financing Receivable, Modifications [Line Items]
Loans and leases, net of unearned discount	5,038	14,999
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	$ 93	$ 265

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	$ 8,227,815	$ 8,261,560
Commercial real estate loans to be sold	309,771	348,701
Other commercial real estate	6,440,726	5,776,116
Residential real estate loans to be sold	242,739	31,208
Other residential real estate	390,880	505,121
Commercial and other	33,148,044	32,625,840
Standby letters of credit	2,379,057	2,376,644
Commercial letters of credit	65,564	65,066
Financial guarantees and indemnification contracts	4,081,370	4,022,432
Commitments to sell real estate loans	$ 1,025,385	$ 533,458

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Percentage of income taxes receivable or payable	1.00%		1.00%
Preferred Series E [Member]
Preferred stock per share dividend amount	$ 16.125	$ 16.125	$ 32.25	$ 32.25
Preferred Series F [Member]
Preferred stock per share dividend amount	128.125	128.125	256.25	256.25
Preferred Series G [Member]
Preferred stock per share dividend amount	125	125	250	250
Preferred Series I [Member]
Preferred stock per share dividend amount	87.5	87.5	175	181.81
Preferred Series H [Member]
Preferred stock per share dividend amount	0.3516		0.7031
Retained Earnings [Member]
Common stock per share dividend amount	$ 1.3	$ 1.2	$ 2.6	$ 2.4

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net Income (Loss)	$ 1,568,658	$ 579,696
Adjustments to reconcile net income to net cash provided by operating activities
Provision for credit losses	270,000	312,000
Depreciation and amortization of premises and equipment	148,806	134,949
Amortization of capitalized servicing rights	57,442	50,998
Amortization of core deposit and other intangible assets	32,153	19,640
Provision for deferred income taxes	(6,687)	(77,346)
Asset write-downs	1,337	3,469
Net gain on sales of assets	(234,388)	(10,856)
Net change in accrued interest receivable, payable	259,115	10,834
Net change in other accrued income and expense	(72,168)	(32,412)
Net change in loans originated for sale	(339,702)	571,879
Net change in trading account and other non-hedging derivative assets and liabilities	521	920,288
Net cash provided by operating activities	1,685,087	2,483,139
Cash flows from investing activities
Proceeds from sales of investment securities equity and other	614,355	26,286
Proceeds from maturities of investment securities Available for sale	298,136	467,788
Proceeds from maturities of investment securities Held to maturity	570,742	572,192
Purchases of investment securities Available for sale	(343,946)	(4,588,013)
Purchases of investment securities Held to maturity	(2,947,627)	(796,312)
Purchases of investment securities equity and other	(872,516)	(26,505)
Net increase in loans and leases	(1,645,467)	(265,684)
Net (increase) decrease in interest-bearing deposits at banks	(2,148,180)	17,628,196
Capital expenditures, net	(101,379)	(87,742)
Net decrease in loan servicing advances	285,706	1,039,029
Acquisition, net of cash consideration, Bank and bank holding company		393,923
Other, net	(359,299)	(324,594)
Net cash provided (used) by investing activities	(6,649,475)	14,038,564
Cash flows from financing activities
Net decrease in deposits	(1,454,879)	(14,151,849)
Net increase (decrease) in short-term borrowings	4,352,933	(72,595)
Proceeds from long-term borrowings	3,485,675
Payments on long-term borrowings	(194)	(900,096)
Purchases of treasury stock	(594,000)	(600,000)
Dividends paid — common	(436,369)	(369,822)
Dividends paid — preferred	(49,881)	(47,046)
Other, net	(10,755)	(29,598)
Net cash provided (used) by financing activities	5,292,530	(16,171,006)
Net increase in cash, cash equivalents and restricted cash	328,142	350,697
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	1,848,386	1,688,274
Supplemental disclosure of cash flow information
Interest received during the period	4,813,949	2,416,362
Interest paid during the period	922,988	86,713
Income taxes paid during the period	329,200	231,687
Supplemental schedule of noncash investing and financing activities
Real estate acquired in settlement of loans	11,612	8,800
Additions to right-of-use assets under operating leases	$ 68,672	31,013
Acquisition of bank and bank holding company, Common stock issued		8,286,515
Acquisition of bank and bank holding company, Common stock awards converted		104,810
Fair value of Assets acquired (noncash)		63,757,316
Fair value of Liabilities assumed		55,499,314
Fair value of Preferred stock converted		$ 260,600

Earnings per common share

6 Months Ended

Jun. 30, 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 June 30						Six Months Ended June 30
	2023			2022			2023			2022
	(In thousands, except per share)

Income available to common shareholders:
Net income	$	867,034		$	217,522		$	1,568,658		$	579,696
Less: Preferred stock dividends		(24,940	)		(24,941	)		(49,881	)		(46,706	)
Net income available to common equity		842,094			192,581			1,518,777			532,990
Less: Income attributable to unvested stock-based compensation awards		(1,574	)		(345	)		(2,731	)		(1,076	)
Net income available to common shareholders	$	840,520		$	192,236		$	1,516,046		$	531,914
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		166,152			177,682			167,076			153,612
Less: Unvested stock-based compensation awards		(310	)		(315	)		(294	)		(322	)
Weighted-average shares outstanding		165,842			177,367			166,782			153,290

Basic earnings per common share	$	5.07		$	1.08		$	9.09		$	3.47

The computations of diluted earnings per common share follow:


	Three Months Ended June 30						Six Months Ended June 30
	2023			2022			2023			2022
	(In thousands, except per share)

Net income available to common equity	$	842,094		$	192,581		$	1,518,777		$	532,990
Less: Income attributable to unvested stock-based compensation awards		(1,570	)		(345	)		(2,725	)		(1,074	)
Net income available to common shareholders	$	840,524		$	192,236		$	1,516,052		$	531,916
Adjusted weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		166,152			177,682			167,076			153,612
Less: Unvested stock-based compensation awards		(310	)		(315	)		(294	)		(322	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards		478			910			577			691
Adjusted weighted-average shares outstanding		166,320			178,277			167,359			153,981

Diluted earnings per common share	$	5.05		$	1.08		$	9.06		$	3.45

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.

Stock-based compensation awards to purchase common stock of M&T representing 2,284,597 common shares and 1,828,360 common shares during the three-month and six-month periods ended June 30, 2023, respectively, and 573,924 and 345,345 common shares during the three-month and six-month periods ended June 30, 2022, respectively, were not included in the computations of diluted earnings per common share because the effect on those periods would have been antidilutive.

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ (28,141)	$ (15,428)	$ (45,573)	$ 6,440
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Included in earnings	$ (895)	$ (6,609)	$ 16,456	$ (25,309)
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	Revenue from Contract with Customer, Including Assessed Tax	Revenue from Contract with Customer, Including Assessed Tax
Transfers out of Level 3	$ (8,142)	$ (2,144)	$ (8,061)	$ (5,312)
Ending Balance	(37,178)	(24,181)	(37,178)	(24,181)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at end of period	$ (2,102)	$ (8,441)	$ 10,543	$ 3,405

Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	$ 374,790	$ 435,969
Liability Derivatives, Fair Value	1,295,532	1,355,326
Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	13,176	4,239
Liability Derivatives, Fair Value	1,543	9,103
Fair Value Hedges [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	313,397	379,868
Liability Derivatives, Fair Value	1,253,627	1,300,184
Fair Value Hedges [Member] \| Derivatives Not Designated and Qualifying as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair Value	48,217	51,862
Liability Derivatives, Fair Value	40,362	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	3,631	1,202
Liability Derivatives, Fair Value	1,498	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	45,080	51,410
Liability Derivatives, Fair Value	47	14
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	9,545	3,037
Liability Derivatives, Fair Value	45	9
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	3,137	452
Liability Derivatives, Fair Value	40,315	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	293,761	355,806
Liability Derivatives, Fair Value	1,234,889	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	19,636	24,062
Liability Derivatives, Fair Value	$ 18,738	$ 22,004

Fair Value Measurements - Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Securities, Available-for-Sale	$ 10,807,659	$ 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	137,240	117,847
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	7,692,452	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	614,963	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	2,340,028	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	160,216	173,584
Fair Value Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading account	137,240	117,847
Debt Securities, Available-for-Sale	10,807,659	10,748,961
Equity Securities, FV-NI, Current	218,168	151,458
Real estate loans held for sale	538,306	162,393
Other assets	374,790	435,969
Total assets	12,076,163	11,616,628
Other liabilities	1,295,532	1,355,326
Total liabilities	1,295,532	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	137,240	117,847
Equity Securities, FV-NI, Current	211,341	145,289
Total assets	348,581	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]
Debt Securities, Available-for-Sale	10,807,659	10,748,961
Equity Securities, FV-NI, Current	6,827	6,169
Real estate loans held for sale	538,306	162,393
Other assets	371,653	435,517
Total assets	11,724,445	11,353,040
Other liabilities	1,255,217	1,309,301
Total liabilities	1,255,217	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	3,137	452
Total assets	3,137	452
Other liabilities	40,315	46,025
Total liabilities	40,315	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	7,692,452	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	7,692,452	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	614,963	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	614,963	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	2,340,028	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	2,340,028	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	160,216	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	$ 160,216	$ 173,584

Loans and Leases and the Allowance for Credit Losses - Changes in Allowance for Credit Losses (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Apr. 01, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses		$ 150,000	$ 302,000	$ 270,000	$ 312,000
Charge-offs		$ (162,224)	(75,614)	$ (257,163)	(126,652)
Non PCD Acquired Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses			242,000		242,000
PCD Acquired Loans [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs	$ (33,000)		$ (33,000)		$ (33,000)

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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, before tax			$ (1,066,177)	$ (172,054)
Unrealized holding gains (losses), net, before tax			3,392	(280,918)
Foreign currency translation adjustment, before tax			3,550	(7,873)
Unrealized losses on cash flow hedges			(207,774)	(174,371)
Total other comprehensive income (loss) before reclassifications, before tax			(200,832)	(463,162)
Amortization of unrealized holding losses on held-to-maturity securities				1,765
Accretion of net gain on terminated cash flow hedges, before tax			(61)	(60)
Net yield adjustment from cash flow hedges currently in effect, before tax			107,730	(57,966)
Amortization of prior service credit, before tax			(927)	(1,128)
Amortization of actuarial losses, before tax			(2,457)	9,206
Total other comprehensive income (loss), before tax			(96,547)	(511,345)
Ending balance, before tax	$ (1,162,724)	$ (683,399)	(1,162,724)	(683,399)
Beginning balance, tax			276,147	44,476
Unrealized holding losses, net, tax			(2,062)	72,691
Foreign currency translation adjustment, tax			(1,040)	1,961
Unrealized losses on cash flow hedges, tax			51,363	45,129
Total other comprehensive income (loss) before reclassifications, tax			48,261	119,781
Amortization of unrealized holding losses on held-to-maturity securities, tax				(456)
Accretion of net gain on terminated cash flow hedges, tax			16	17
Net yield adjustment from cash flow hedges currently in effect, tax			(26,631)	15,002
Amortization of prior service credit, tax			36	267
Amortization of actuarial losses, tax			95	(2,178)
Total other comprehensive income (loss), tax			21,777	132,433
Ending balance, tax	297,924	176,909	297,924	176,909
Beginning balance, net of tax			(790,030)	(127,578)
Unrealized holding losses, net of tax			1,330	(208,227)
Foreign currency translation adjustments, net of tax	1,316	(4,264)	2,510	(5,912)
Unrealized losses on cash flow hedges, net of tax			(156,411)	(129,242)
Total other comprehensive income (loss) before reclassifications, net of tax			(152,571)	(343,381)
Amortization of unrealized holding losses on held-to-maturity securities				1,309
Accretion of net gain on terminated cash flow hedges, net of tax			(45)	(43)
Net yield adjustment from cash flow hedges currently in effect, net of tax			81,099	(42,964)
Amortization of prior service credit, net of tax			(891)	(861)
Amortization of actuarial losses, net of tax			(2,362)	7,028
Total other comprehensive income (loss)	(219,795)	(129,105)	(74,770)	(378,912)
Ending balance, net of tax	(864,800)	(506,490)	(864,800)	(506,490)
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			(927)	(1,128)
Amortization of actuarial losses, before tax			(2,457)	9,206
Total other comprehensive income (loss), before tax			(3,384)	8,078
Ending balance, before tax	(276,240)	(352,198)	(276,240)	(352,198)
Total other comprehensive income (loss)			(3,253)
Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, before tax			(349,129)	83,531
Foreign currency translation adjustment, before tax			3,550	(7,873)
Unrealized losses on cash flow hedges			(207,774)	(174,371)
Total other comprehensive income (loss) before reclassifications, before tax			(204,224)	(182,244)
Accretion of net gain on terminated cash flow hedges, before tax			(61)	(60)
Net yield adjustment from cash flow hedges currently in effect, before tax			107,730	(57,966)
Total other comprehensive income (loss), before tax			(96,555)	(240,270)
Ending balance, before tax	(445,684)	(156,739)	(445,684)	(156,739)
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			3,392	(280,918)
Total other comprehensive income (loss) before reclassifications, before tax			3,392	(280,918)
Amortization of unrealized holding losses on held-to-maturity securities				1,765
Total other comprehensive income (loss), before tax			3,392	(279,153)
Ending balance, before tax	$ (440,800)	$ (174,462)	(440,800)	$ (174,462)
Total other comprehensive income (loss)			$ 1,330

Loans and Leases and the Allowance for Credit Losses - Summary of Payment Status of Loans Modified (Detail)
$ in Thousands

Jun. 30, 2023

USD ($)

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

$ 613,229

20,816

6,283

^[1]

Commercial, Financial, Leasing, etc. [Member]

640,328

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

60,448

3,716

117

^[1]

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

64,281

Commercial [Member]

177,753

426

1,396

^[1]

Residential Builder and Developer [Member]

179,575

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

90,708

Other Commercial Construction [Member]

90,708

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

222,818

276

223,094

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

53,545

^[2]

14,798

^[2]

4,154

^[1],[2]

Residential Limited Documentation [Member]

72,497

^[2]

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

6,745

1,600

616

^[1]

Home Equity Lines and Loans [Member]

8,961

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

785

Recreational Finance [Member]

785

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

203

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

203

Automobile [Member]

224

Commitments and Contingencies Disclosure [Abstract]

$ 224

[1]	Predominantly loan modifications with payment deferrals.
[2]	Includes loans guaranteed by government-related entities classified as 30-89 days past due of $11 million and as past due 90 days or more of $4 million

Acquisition and Divestiture - Summary of Identifiable Assets Acquired, Liabilities Assumed and Preferred Stock Exchanged as of Acquisition (Details) - USD ($) $ in Thousands	Apr. 01, 2022	Jun. 30, 2023	Dec. 31, 2022
Liabilities and preferred stock:
Total liabilities and shareholders’ equity		$ 207,671,729	$ 200,729,841
Goodwill		$ 8,465,089	$ 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

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	Jun. 30, 2023	Dec. 31, 2022
Carrying Amount [Member]
Derivatives, Fair Value [Line Items]
Hedged Item	$ 2,394,614	$ 1,433,731
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Derivatives, Fair Value [Line Items]
Hedged Item	$ (100,493)	$ (65,310)

Commitments and contingencies

6 Months Ended

Jun. 30, 2023

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.


	June 30,		December 31,
	2023		2022
	(In thousands)
Commitments to extend credit
Home equity lines of credit	$	8,227,815	$	8,261,560
Commercial real estate loans to be sold		309,771		348,701
Other commercial real estate		6,440,726		5,776,116
Residential real estate loans to be sold		242,739		31,208
Other residential real estate		390,880		505,121
Commercial and other		33,148,044		32,625,840
Standby letters of credit		2,379,057		2,376,644
Commercial letters of credit		65,564		65,066
Financial guarantees and indemnification contracts		4,081,370		4,022,432
Commitments to sell real estate loans		1,025,385		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 June 30, 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 $3.9 billion at each of June 30, 2023 and 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.

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 June 30, 2023, the Company believes that its obligation to loan purchasers was not material to the Company’s consolidated financial position.

13. Commitments and contingencies, continued

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 June 30, 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.

On May 11, 2023, the Federal Deposit Insurance Corporation (“FDIC”) released a proposed rule that would impose a special assessment to recover the costs to the deposit insurance fund (“DIF”) resulting from the FDIC’s use, in March 2023, of the systemic risk exception to the least-cost resolution test under the Federal Deposit Insurance Act in connection with the receiverships of Silicon Valley Bank and Signature Bank. The FDIC stated that it currently estimates those assessed losses to total $15.8 billion and that the amount of the special assessments would be adjusted as the loss estimate changes. Under the proposed rule, the assessment base would be the estimated uninsured deposits that an insured depository institution (“IDI”) reported in its Consolidated Reports of Condition and Income ("Call Report") at December 31, 2022, excluding the first $5 billion in estimated uninsured deposits. For a holding company that has more than one IDI subsidiary, such as M&T, the $5 billion exclusion would be allocated among the company’s IDI subsidiaries in proportion to each IDI’s estimated uninsured deposits. The special assessments would be collected at an annual rate of approximately 12.5 basis points per year (3.13 basis points per quarter) over eight quarters in 2024 and 2025, with the first assessment period beginning January 1, 2024. Under the proposed rule, the estimated loss pursuant to the systemic risk determination would be periodically adjusted, and the FDIC would retain the ability to cease collection early, extend the special assessment collection period and impose a final shortfall special assessment on a one-time basis. M&T expects the special assessments, as currently contemplated, would be tax deductible. Although the proposal could be revised, the total of the assessments for the Company is estimated at $183 million and such amount is expected to be recorded as an expense in the quarter of enactment.

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	6 Months Ended	12 Months Ended
	Jun. 30, 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	97.00%	97.00%
Weighted Average [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Commitment expirations	10.00%	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	$ (37,178)	$ (45,573)

Acquisition and divestiture

6 Months Ended

Jun. 30, 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
	Six months ended June 30, 2022
	(In thousands)
Total revenues (a)	$	3,900,483
Net income		757,459

(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 second quarter of 2023. Merger-related expenses incurred in the three and six months ended June 30, 2022 totaled approximately $223 million and $240 million, respectively, and consisted predominantly of professional services, including legal expenses and technology-related activities to prepare for planned integration efforts, and severance for former People's United employees. The Company also recognized a $242 million provision for credit losses on acquired loans that were not deemed to be PCD on April 1, 2022.

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 on April 29, 2023 and resulted in a pre-tax gain of $225 million that has been included in other revenues from operations in the Consolidated Statement of Income for the three-month and six-month periods ended June 30, 2023. Prior to the sale, the CIT business contributed $15 million and $40 million to trust income in the second quarters of 2023 and 2022, respectively, and $60 million and $81 million in the six months ended June 30, 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.

Consolidated Statement of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest income
Loans and leases, including fees	$ 1,997,809	$ 1,246,742	$ 3,847,465	$ 2,117,342
Investment securities
Fully taxable	197,882	119,392	379,469	158,524
Exempt from federal taxes	16,505	17,783	33,116	17,833
Deposits at banks	302,429	80,773	580,846	99,053
Other	1,000	452	1,714	646
Total interest income	2,515,625	1,465,142	4,842,610	2,393,398
Interest expense
Savings and interest-checking deposits	368,362	27,907	645,430	34,654
Time deposits	150,337	1,227	239,534	2,624
Short-term borrowings	95,996	3,419	153,772	3,420
Long-term borrowings	101,801	20,872	186,481	36,809
Total interest expense	716,496	53,425	1,225,217	77,507
Net interest income	1,799,129	1,411,717	3,617,393	2,315,891
Provision for credit losses	150,000	302,000	270,000	312,000
Net interest income after provision for credit losses	1,649,129	1,109,717	3,347,393	2,003,891
Other income
Brokerage services income	25,126	24,138	49,167	44,328
Trading account and other non-hedging derivative gains	16,754	2,293	28,429	7,662
Gain (loss) on bank investment securities	1,004	(62)	588	(805)
Other revenues from operations	362,015	147,551	521,515	283,754
Total other income	803,171	571,100	1,390,304	1,111,987
Other expense
Salaries and employee benefits	737,665	776,201	1,545,607	1,353,721
Equipment and net occupancy	128,689	124,655	255,593	210,467
Outside data processing and software	106,438	93,820	212,218	173,539
FDIC assessments	27,932	22,585	57,690	38,161
Advertising and marketing	28,353	20,635	59,416	36,659
Printing, postage and supplies	14,199	15,570	28,382	25,720
Amortization of core deposit and other intangible assets	14,945	18,384	32,153	19,640
Other costs of operations	234,338	331,304	460,730	504,988
Total other expense	1,292,559	1,403,154	2,651,789	2,362,895
Income before taxes	1,159,741	277,663	2,085,908	752,983
Income taxes	292,707	60,141	517,250	173,287
Net income	867,034	217,522	1,568,658	579,696
Net income available to common shareholders
Basic	840,520	192,236	1,516,046	531,914
Diluted	$ 840,524	$ 192,236	$ 1,516,052	$ 531,916
Net income per common share
Basic	$ 5.07	$ 1.08	$ 9.09	$ 3.47
Diluted	$ 5.05	$ 1.08	$ 9.06	$ 3.45
Average common shares outstanding
Basic	165,842	177,367	166,782	153,290
Diluted	166,320	178,277	167,359	153,981
Mortgage Banking Revenues [Member]
Other income
Revenue from contract with customer	$ 107,112	$ 82,926	$ 192,097	$ 192,074
Service Charges on Deposit Accounts [Member]
Other income
Revenue from contract with customer	118,697	124,170	232,243	225,677
Trust Income [Member]
Other income
Revenue from contract with customer	$ 172,463	$ 190,084	$ 366,265	$ 359,297

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

Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Parenthetical) (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Notional Amount	$ 21,227,000	$ 17,400,000
Forward-Starting Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Notional Amount	7,300,000	4,700,000
Forward-Starting SOFR-Based Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Notional Amount	13,600,000
Fair Value Hedges [Member]
Derivative [Line Items]
Impact of estimated fair value gain (losses) on hedging instruments	102,400	65,000
Fair Value Hedges [Member] \| Forward-Starting SOFR-Based Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Notional Amount	500,000
Cash Flow Hedges [Member]
Derivative [Line Items]
Impact of estimated fair value gain (losses) on hedging instruments	$ 436,700	$ 329,700

Segment information

6 Months Ended

Jun. 30, 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, 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 and certain expenses were reallocated from the All Other segment to various reportable segments in the fourth quarter of 2022. During 2022, the Company also realigned certain acquired operations associated with People's United primarily consisting of reclassifications of certain revenues and expenses to the Commercial Banking segment from other reportable segments. As a result, financial information for the three and six months ended June 30, 2022 has been reclassified to provide segment information on a comparable basis, as noted in the accompanying tables.

14. Segment information, continued


	Three Months Ended June 30, 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	$	203,630		—		$	203,630	$	70,536			(2,953	)	$	67,583
Commercial Banking		343,353		105,086			448,439		130,431			31,379			161,810
Commercial Real Estate		239,610		6,635			246,245		121,737			(3,792	)		117,945
Discretionary Portfolio		89,412		(14,885	)		74,527		56,085			(11,674	)		44,411
Residential Mortgage Banking		113,874		—			113,874		9,347			(1,418	)		7,929
Retail Banking		593,228		(74,611	)		518,617		139,431			(34,862	)		104,569
All Other		399,710		(22,225	)		377,485		(310,045	)		23,320			(286,725	)
Total	$	1,982,817		—		$	1,982,817	$	217,522			—		$	217,522


	Six Months Ended June 30, 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	$	344,976		—		$	344,976	$	111,647			(4,532	)	$	107,115
Commercial Banking		632,725		94,649			727,374		275,039			15,231			290,270
Commercial Real Estate		441,697		17,072			458,769		219,347			9,844			229,191
Discretionary Portfolio		154,139		(14,885	)		139,254		91,470			(12,374	)		79,096
Residential Mortgage Banking		251,318		—			251,318		38,311			(3,268	)		35,043
Retail Banking		948,376		(74,611	)		873,765		223,595			(39,944	)		183,651
All Other		654,647		(22,225	)		632,422		(379,713	)		35,043			(344,670	)
Total	$	3,427,878		—		$	3,427,878	$	579,696			—		$	579,696

14. Segment information, continued

Information about the Company's segments follows:


	Three Months Ended June 30
	2023									2022
	Total Revenues(a)			Inter- segment Revenues			Net Income (Loss)			Total Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)

Business Banking	$	277,181		$	1,047		$	116,163		$	203,630	$	726		$	67,583
Commercial Banking		460,625			9,292			165,562			448,439		940			161,810
Commercial Real Estate		217,254			268			39,288			246,245		259			117,945
Discretionary Portfolio		(23,937	)		(14,809	)		(31,695	)		74,527		(24,103	)		44,411
Residential Mortgage Banking		102,556			20,754			(14,900	)		113,874		37,875			7,929
Retail Banking		864,566			(39	)		336,633			518,617		(4	)		104,569
All Other		704,055			(16,513	)		255,983			377,485		(15,693	)		(286,725	)
Total	$	2,602,300		$	—		$	867,034		$	1,982,817	$	—		$	217,522


	Six Months Ended June 30
	2023									2022
	Total Revenues(a)			Inter- segment Revenues			Net Income (Loss)			Total Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)

Business Banking	$	550,732		$	1,924		$	229,414		$	344,976	$	1,397		$	107,115
Commercial Banking		967,645			19,518			385,541			727,374		1,803			290,270
Commercial Real Estate		442,973			557			120,097			458,769		438			229,191
Discretionary Portfolio		(57,333	)		(30,014	)		(72,092	)		139,254		(51,908	)		79,096
Residential Mortgage Banking		180,210			41,226			(27,254	)		251,318		75,339			35,043
Retail Banking		1,696,408			(78	)		653,227			873,765		(7	)		183,651
All Other		1,227,062			(33,133	)		279,725			632,422		(27,062	)		(344,670	)
Total	$	5,007,697		$	—		$	1,568,658		$	3,427,878	$	—		$	579,696


	Average Total Assets
	Six Months Ended June 30				Year Ended December 31
	2023		2022		2022
	(In millions)

Business Banking	$	7,905	$	7,316	$	7,597
Commercial Banking (b)		49,166		35,696		40,930
Commercial Real Estate (b)		32,000		29,032		30,599
Discretionary Portfolio		50,930		36,292		42,657
Residential Mortgage Banking		2,723		5,014		3,986
Retail Banking (b)		21,322		19,690		20,312
All Other (b)		39,446		47,374		44,171
Total	$	203,492	$	180,414	$	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 $13,886,000 and $10,726,000 for the three-month periods ended June 30, 2023 and 2022, respectively, and $27,348,000 and $13,960,000 for the six-month periods ended June 30, 2023 and 2022, 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)

For the six months ended June 30, 2022, average total assets totaling (i) approximately $1.25 billion were reclassified to the Commercial Real Estate segment from the Commercial Banking segment as a result of the realignment of certain lending relationships within the hospitality sector and (ii) approximately $4.72 billion and $591 million were reclassified to the Commercial Banking segment from the Retail Banking and All Other segments, respectively, as a result of the realignment of certain acquired operations associated with People's United.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Information about Company's Segments

Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Debt securities available for sale:
Due in one year or less	$ 3,470,536
Due after one year through five years	4,576,316
Due after five years through ten years	29,763
Due after ten years	30,000
Total available for sale (amortized cost)	8,106,615
Mortgage-backed securities available for sale	3,141,843
Investment securities available for sale, amortized cost	11,248,458	$ 11,248,458	$ 11,193,152
Debt securities held to maturity:
Due in one year or less	76,348
Due after one year through five years	1,132,418
Due after five years through ten years	1,191,409
Due after ten years	1,200,359
Total available for held to maturity (amortized cost)	3,600,534
Mortgage-backed securities held to maturity	12,317,572
Amortized cost for held to maturity	15,918,106		13,529,969
Debt securities available for sale:
Due in one year or less	3,391,769
Due after one year through five years	4,410,215
Due after five years through ten years	26,430
Due after ten years	24,254
Total available for sale (fair value)	7,852,668
Mortgage-backed securities available for sale	2,954,991
Total	10,807,659		10,748,961
Debt securities held to maturity:
Due in one year or less	76,153
Due after one year through five years	1,082,030
Due after five years through ten years	1,162,463
Due after ten years	1,130,162
Total available for held to maturity (fair value)	3,450,808
Mortgage-backed securities held to maturity	11,262,688
Total	$ 14,713,496	$ 14,713,496	$ 12,375,420

Segment information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]


	Three Months Ended June 30, 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	$	203,630		—		$	203,630	$	70,536			(2,953	)	$	67,583
Commercial Banking		343,353		105,086			448,439		130,431			31,379			161,810
Commercial Real Estate		239,610		6,635			246,245		121,737			(3,792	)		117,945
Discretionary Portfolio		89,412		(14,885	)		74,527		56,085			(11,674	)		44,411
Residential Mortgage Banking		113,874		—			113,874		9,347			(1,418	)		7,929
Retail Banking		593,228		(74,611	)		518,617		139,431			(34,862	)		104,569
All Other		399,710		(22,225	)		377,485		(310,045	)		23,320			(286,725	)
Total	$	1,982,817		—		$	1,982,817	$	217,522			—		$	217,522


	Six Months Ended June 30, 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	$	344,976		—		$	344,976	$	111,647			(4,532	)	$	107,115
Commercial Banking		632,725		94,649			727,374		275,039			15,231			290,270
Commercial Real Estate		441,697		17,072			458,769		219,347			9,844			229,191
Discretionary Portfolio		154,139		(14,885	)		139,254		91,470			(12,374	)		79,096
Residential Mortgage Banking		251,318		—			251,318		38,311			(3,268	)		35,043
Retail Banking		948,376		(74,611	)		873,765		223,595			(39,944	)		183,651
All Other		654,647		(22,225	)		632,422		(379,713	)		35,043			(344,670	)
Total	$	3,427,878		—		$	3,427,878	$	579,696			—		$	579,696

14. Segment information, continued

Information about the Company's segments follows:


	Three Months Ended June 30
	2023									2022
	Total Revenues(a)			Inter- segment Revenues			Net Income (Loss)			Total Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)

Business Banking	$	277,181		$	1,047		$	116,163		$	203,630	$	726		$	67,583
Commercial Banking		460,625			9,292			165,562			448,439		940			161,810
Commercial Real Estate		217,254			268			39,288			246,245		259			117,945
Discretionary Portfolio		(23,937	)		(14,809	)		(31,695	)		74,527		(24,103	)		44,411
Residential Mortgage Banking		102,556			20,754			(14,900	)		113,874		37,875			7,929
Retail Banking		864,566			(39	)		336,633			518,617		(4	)		104,569
All Other		704,055			(16,513	)		255,983			377,485		(15,693	)		(286,725	)
Total	$	2,602,300		$	—		$	867,034		$	1,982,817	$	—		$	217,522


	Six Months Ended June 30
	2023									2022
	Total Revenues(a)			Inter- segment Revenues			Net Income (Loss)			Total Revenues(a)		Inter- segment Revenues			Net Income (Loss)
	(In thousands)

Business Banking	$	550,732		$	1,924		$	229,414		$	344,976	$	1,397		$	107,115
Commercial Banking		967,645			19,518			385,541			727,374		1,803			290,270
Commercial Real Estate		442,973			557			120,097			458,769		438			229,191
Discretionary Portfolio		(57,333	)		(30,014	)		(72,092	)		139,254		(51,908	)		79,096
Residential Mortgage Banking		180,210			41,226			(27,254	)		251,318		75,339			35,043
Retail Banking		1,696,408			(78	)		653,227			873,765		(7	)		183,651
All Other		1,227,062			(33,133	)		279,725			632,422		(27,062	)		(344,670	)
Total	$	5,007,697		$	—		$	1,568,658		$	3,427,878	$	—		$	579,696


	Average Total Assets
	Six Months Ended June 30				Year Ended December 31
	2023		2022		2022
	(In millions)

Business Banking	$	7,905	$	7,316	$	7,597
Commercial Banking (b)		49,166		35,696		40,930
Commercial Real Estate (b)		32,000		29,032		30,599
Discretionary Portfolio		50,930		36,292		42,657
Residential Mortgage Banking		2,723		5,014		3,986
Retail Banking (b)		21,322		19,690		20,312
All Other (b)		39,446		47,374		44,171
Total	$	203,492	$	180,414	$	190,252

(a)

(b)

Acquisition and Divestiture - Additional Information (Details) - USD ($)			3 Months Ended		6 Months Ended
	Apr. 29, 2023	Apr. 01, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Carrying Value			$ 2,010,600,000		$ 2,010,600,000			$ 2,010,600,000
Goodwill			8,465,089,000		8,465,089,000			8,490,089,000
ACL for non-PCD loan and leases		$ 242,000,000
Initial estimate of expected credit losses		99,000,000
Assets			207,671,729,000		207,671,729,000			200,729,841,000
Shareholders' equity			25,800,933,000	$ 25,794,531,000	25,800,933,000	$ 25,794,531,000	$ 25,377,171,000	25,317,990,000	$ 17,876,020,000	$ 17,903,405,000
Net Income (Loss)			867,034,000	217,522,000	1,568,658,000	579,696,000
Fiduciary and Trust [Member]
Business Acquisition [Line Items]
Revenue from contract with customer			172,463,000	190,084,000	366,265,000	359,297,000
Collective Investment Trust [Member] \| Fiduciary and Trust [Member]
Business Acquisition [Line Items]
Gain (loss) on sale of subsidiary, pre-tax	$ 225,000,000
Revenue from contract with customer			15,000,000	40,000,000	60,000,000	81,000,000
Common Stock [Member]
Business Acquisition [Line Items]
Shareholders' equity			89,718,000	89,718,000	$ 89,718,000	89,718,000	$ 89,718,000	$ 89,718,000	$ 79,871,000	$ 79,871,000
Peoples United Financial Inc [Member]
Business Acquisition [Line Items]
Business combination, market value		$ 8,400,000,000
Common stock, price per share		$ 164.66
Assets		$ 60,244,818,000
Goodwill		3,908,245,000
Core deposits and other intangible assets		$ 261,000,000
Peoples United Financial Inc [Member] \| Investment Banking, Legal and Other Services [Member]
Business Acquisition [Line Items]
Merger-related expenses			$ 0	$ 223,000,000		$ 240,000,000
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

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

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Summary of Current, Past Due and Nonaccrual Loans

A summary of current, past due and nonaccrual loans as of June 30, 2023 and December 31, 2022 follows:


	Current		30-89 Days Past Due		Accruing Loans Past Due 90 Days or More		Nonaccrual		Total
	(In thousands)
June 30, 2023
Commercial, financial, leasing, etc.	$	43,939,557	$	289,931	$	38,039	$	416,022	$	44,683,549
Real estate:
Commercial		34,861,282		450,072		37,542		1,383,190		36,732,086
Residential builder and developer		1,115,373		18,745		—		1,193		1,135,311
Other commercial construction		6,465,258		154,908		15,124		146,024		6,781,314
Residential		21,666,324		581,806		284,410		238,509		22,771,049
Residential — limited documentation		900,609		23,945		—		66,614		991,168
Consumer:
Home equity lines and loans		4,669,522		26,478		—		77,090		4,773,090
Recreational finance		9,171,034		53,483		—		32,286		9,256,803
Automobile		4,020,722		40,974		—		21,791		4,083,487
Other		2,062,277		15,769		4,964		52,862		2,135,872
Total	$	128,871,958	$	1,656,111	$	380,079	$	2,435,581	$	133,343,729

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


	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	$	4,084,263		7,437,543		4,342,236		1,680,841		1,434,684		2,313,703		21,051,384		45,539	$	42,390,193
Criticized accrual		89,277		242,232		245,040		169,817		108,865		282,663		715,380		24,060		1,877,334
Criticized nonaccrual		12,072		48,988		44,163		23,131		27,809		94,343		156,738		8,778		416,022
Total commercial, financial, leasing, etc.	$	4,185,612		7,728,763		4,631,439		1,873,789		1,571,358		2,690,709		21,923,502		78,377	$	44,683,549
Gross charge-offs three months ended June 30, 2023	$	728		6,854		4,705		3,999		2,214		2,758		—		—	$	21,258
Gross charge-offs six months ended June 30, 2023	$	835		10,958		8,110		6,752		4,517		8,315		773		—	$	40,260
Real estate:
Commercial:
Loan grades:
Pass	$	2,087,296		3,865,108		3,188,161		3,200,526		4,693,259		12,993,821		797,521		—	$	30,825,692
Criticized accrual		—		403,062		434,027		354,736		788,370		2,519,575		23,434		—		4,523,204
Criticized nonaccrual		—		50,989		25,903		258,813		146,925		894,172		6,388		—		1,383,190
Total commercial real estate	$	2,087,296		4,319,159		3,648,091		3,814,075		5,628,554		16,407,568		827,343		—	$	36,732,086
Gross charge-offs three months ended June 30, 2023	$	—		—		—		424		51,516		49,433		—		—	$	101,373
Gross charge-offs six months ended June 30, 2023	$	—		—		—		424		77,906		51,911		—		—	$	130,241
Residential builder and developer:
Loan grades:
Pass	$	215,809		518,867		99,364		9,681		7,122		15,204		126,638		—	$	992,685
Criticized accrual		1,013		6,499		34,803		2,329		74,015		20,601		2,173		—		141,433
Criticized nonaccrual		—		—		675		—		518		—		—		—		1,193
Total residential builder and developer	$	216,822		525,366		134,842		12,010		81,655		35,805		128,811		—	$	1,135,311
Gross charge-offs three months ended June 30, 2023	$	—		—		—		—		—		44		172		—	$	216
Gross charge-offs six months ended June 30, 2023	$	—		—		—		—		—		55		1,678		—	$	1,733
Other commercial construction:
Loan grades:
Pass	$	391,286		1,373,928		1,025,430		952,484		550,745		271,623		15,867		—	$	4,581,363
Criticized accrual		245		53,186		173,616		446,290		945,352		435,238		—		—		2,053,927
Criticized nonaccrual		—		—		10,202		42,275		63,702		27,422		2,423		—		146,024
Total other commercial construction	$	391,531		1,427,114		1,209,248		1,441,049		1,559,799		734,283		18,290		—	$	6,781,314
Gross charge-offs three months ended June 30, 2023	$	—		—		—		—		—		—		—		—	$	—
Gross charge-offs six months ended June 30, 2023	$	—		—		—		—		—		—		—		—	$	—

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 June 30, 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-month and six-month periods ended June 30, 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	$	1,078,612		4,916,628		3,904,324		2,663,709		1,266,549		7,756,199		80,303		—	$	21,666,324
30-89 days past due		4,818		77,407		49,908		33,051		23,741		392,794		87		—		581,806
Accruing loans past due 90 days or more		170		24,637		26,574		16,174		13,590		203,265		—		—		284,410
Nonaccrual		140		12,497		14,259		2,286		8,254		194,394		6,679		—		238,509
Total residential	$	1,083,740		5,031,169		3,995,065		2,715,220		1,312,134		8,546,652		87,069		—	$	22,771,049
Gross charge-offs three months ended June 30, 2023	$	—		58		77		-		71		639		—		—	$	845
Gross charge-offs six months ended June 30, 2023	$	—		133		192		21		139		1,925		—		—	$	2,410
Residential - limited documentation:
Current	$	—		—		—		—		—		900,609		—		—	$	900,609
30-89 days past due		—		—		—		—		—		23,945		—		—		23,945
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		66,614		—		—		66,614
Total residential - limited documentation	$	—		—		—		—		—		991,168		—		—	$	991,168
Gross charge-offs three months ended June 30, 2023	$	—		—		—		—		—		227		—		—	$	227
Gross charge-offs six months ended June 30, 2023	$	—		—		—		—		—		363		—		—	$	363
Consumer:
Home equity lines and loans:
Current	$	32		31		1,962		2,164		14,100		109,021		3,082,721		1,459,491	$	4,669,522
30-89 days past due		—		—		—		55		309		1,670		—		24,444		26,478
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		—		—		32		—		65		6,298		1,140		69,555		77,090
Total home equity lines and loans	$	32		31		1,994		2,219		14,474		116,989		3,083,861		1,553,490	$	4,773,090
Gross charge-offs three months ended June 30, 2023	$	—		—		—		—		—		53		—		1,113	$	1,166
Gross charge-offs six months ended June 30, 2023	$	—		—		—		—		—		84		1,298		1,817	$	3,199
Recreational finance:
Current	$	1,111,625		2,572,098		2,047,511		1,420,955		866,786		1,152,059		—		—	$	9,171,034
30-89 days past due		1,345		9,290		12,008		10,542		7,690		12,608		—		—		53,483
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		554		2,977		6,984		5,775		4,706		11,290		—		—		32,286
Total recreational finance	$	1,113,524		2,584,365		2,066,503		1,437,272		879,182		1,175,957		—		—	$	9,256,803
Gross charge-offs three months ended June 30, 2023	$	873		2,781		3,014		2,746		1,751		3,315		—		—	$	14,480
Gross charge-offs six months ended June 30, 2023	$	873		5,150		6,027		5,731		4,163		7,357		—		—	$	29,301
Automobile:
Current	$	442,880		1,298,446		1,285,910		553,840		280,257		159,389		—		—	$	4,020,722
30-89 days past due		1,731		9,576		12,148		6,187		5,479		5,853		—		—		40,974
Accruing loans past due 90 days or more		—		—		—		—		—		—		—		—		—
Nonaccrual		648		2,521		7,163		3,988		3,299		4,172		—		—		21,791
Total automobile	$	445,259		1,310,543		1,305,221		564,015		289,035		169,414		—		—	$	4,083,487
Gross charge-offs three months ended June 30, 2023	$	81		1,183		1,916		708		526		517		—		—	$	4,931
Gross charge-offs six months ended June 30, 2023	$	81		2,819		3,984		1,877		1,483		1,398		—		—	$	11,642
Other:
Current	$	154,995		222,468		142,584		44,462		25,013		22,444		1,444,863		5,448		2,062,277
30-89 days past due		2,113		1,885		1,304		235		221		502		8,979		530	$	15,769
Accruing loans past due 90 days or more		—		—		—		—		—		181		4,783		—		4,964
Nonaccrual		1,434		665		445		135		127		335		49,565		156		52,862
Total other	$	158,542		225,018		144,333		44,832		25,361		23,462		1,508,190		6,134	$	2,135,872
Gross charge-offs three months ended June 30, 2023	$	5,201		3,203		2,261		1,209		1,334		4,348		172		—	$	17,728
Gross charge-offs six months ended June 30, 2023	$	6,113		11,860		4,996		2,604		2,915		9,334		192		—	$	38,014

Total loans and leases at June 30, 2023	$	9,682,358		23,151,528		17,136,736		11,904,481		11,361,552		30,892,007		27,577,066		1,638,001	$	133,343,729
Total gross charge-offs for the three months ended June 30, 2023	$	6,883		14,079		11,973		9,086		57,412		61,334		344		1,113	$	162,224
Total gross charge-offs for the six months ended June 30, 2023	$	7,902		30,920		23,309		17,409		91,123		80,742		3,941		1,817	$	257,163

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 June 30, 2023 and 2022 were as follows:


	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Total
	(In thousands)
Three Months Ended June 30, 2023
Beginning balance	$	504,779			743,621			113,192			613,518		$	1,975,110
Provision for credit losses		11,977			121,092			3,957			12,974			150,000
Net charge-offs
Charge-offs		(21,258	)		(101,589	)		(1,072	)		(38,305	)		(162,224	)
Recoveries		16,431			2,552			2,315			14,182			35,480
Net (charge-offs) recoveries		(4,827	)		(99,037	)		1,243			(24,123	)		(126,744	)
Ending balance	$	511,929			765,676			118,392			602,369		$	1,998,366


Three Months Ended June 30, 2022
Beginning balance	$	307,055		539,444		72,581		553,279		$	1,472,359
Allowance on acquired PCD loans		41,003		55,812		1,833		352			99,000
Provision for credit losses (a)		95,917		120,277		50,168		35,638			302,000
Net charge-offs
Charge-offs (b)		(37,925	)	(8,796	)	(2,863	)	(26,030	)		(75,614	)
Recoveries		8,423		1,656		2,607		13,359			26,045
Net charge-offs		(29,502	)	(7,140	)	(256	)	(12,671	)		(49,569	)
Ending balance	$	414,473		708,393		124,326		576,598		$	1,823,790

_____________________________________

(a)

Includes $242 million related to non-PCD acquired loans for the three months ended June 30, 2022.

(b) For the three months ended June 30, 2022, net charge-offs do not reflect $33 million of charge offs related to PCD acquired loans.

Changes in the allowance for credit losses for the six months ended June 30, 2023 and 2022 were as follows:


	Commercial, Financial,			Real Estate
	Leasing, etc.			Commercial			Residential			Consumer			Total
	(In thousands)
Six Months Ended June 30, 2023
Beginning balance	$	502,153			676,684			115,092			631,402		$	1,925,331
Provision for credit losses		24,164			217,084			2,435			26,317			270,000
Net charge-offs
Charge-offs		(40,260	)		(131,974	)		(2,773	)		(82,156	)		(257,163	)
Recoveries		25,872			3,882			3,638			26,806			60,198
Net (charge-offs) recoveries		(14,388	)		(128,092	)		865			(55,350	)		(196,965	)
Ending balance	$	511,929			765,676			118,392			602,369		$	1,998,366


Six Months Ended June 30, 2022
Beginning balance	$	283,899		557,239		71,726		556,362		$	1,469,226
Allowance on acquired PCD loans		41,003		55,812		1,833		352			99,000
Provision for credit losses (a)		124,642		89,339		51,888		46,131			312,000
Net charge-offs
Charge-offs (b)		(57,159	)	(10,596	)	(6,835	)	(52,062	)		(126,652	)
Recoveries		22,088		16,599		5,714		25,815			70,216
Net (charge-offs) recoveries		(35,071	)	6,003		(1,121	)	(26,247	)		(56,436	)
Ending balance	$	414,473		708,393		124,326		576,598		$	1,823,790

________________________________________________________________________________________________

(a)

Includes $242 million related to non-PCD acquired loans for the six months ended June 30, 2022.

(b) For the six months ended June 30, 2022, net charge-offs do not reflect $33 million of charge offs related to PCD acquired loans.

Loan and Leases Considered Nonaccrual and Interest Income Recognized on Loans


	Amortized Cost with Allowance		Amortized Cost without Allowance		Total		Amortized Cost				Interest Income Recognized
	June 30, 2023						March 31, 2023		January 1, 2023		Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
	(In thousands)
Commercial, financial, leasing, etc.	$	162,087	$	253,935	$	416,022	$	382,268	$	347,204	$	1,909	$	4,188
Real estate:
Commercial		415,685		967,505		1,383,190		1,516,655		1,396,662		4,432		9,933
Residential builder and developer		1,193		—		1,193		3,303		1,229		30		396
Other commercial construction		44,489		101,535		146,024		143,015		124,937		63		1,725
Residential		91,371		147,138		238,509		253,646		272,090		4,391		8,767
Residential — limited documentation		27,013		39,601		66,614		68,935		77,814		96		260
Consumer:
Home equity lines and loans		48,513		28,577		77,090		80,766		84,788		1,458		3,679
Recreational finance		23,005		9,281		32,286		34,186		44,630		180		351
Automobile		18,275		3,516		21,791		26,842		39,584		36		71
Other		51,238		1,624		52,862		47,183		49,497		79		167
Total	$	882,869	$	1,552,712	$	2,435,581	$	2,556,799	$	2,438,435	$	12,674	$	29,537

	June 30, 2022						March 31, 2022		January 1, 2022		Three Months Ended June 30, 2022		Six Months Ended June 30, 2022
	(In thousands)
Commercial, financial, leasing, etc.	$	278,396	$	164,100	$	442,496	$	275,146	$	221,022	$	2,121	$	15,715
Real estate:
Commercial		397,536		1,079,122		1,476,658		1,157,686		1,069,280		1,754		7,885
Residential builder and developer		518		—		518		2,916		3,005		259		1,687
Other commercial construction		36,345		36,701		73,046		50,855		111,405		2,750		3,376
Residential		175,019		156,357		331,376		341,671		355,858		6,797		13,338
Residential — limited documentation		70,718		41,890		112,608		123,512		122,888		31		227
Consumer:
Home equity lines and loans		30,328		49,117		79,445		71,489		70,488		1,813		2,622
Recreational finance		26,530		6,884		33,414		31,546		27,811		161		322
Automobile		31,970		4,296		36,266		35,350		34,037		37		75
Other		47,040		138		47,178		44,060		44,289		92		184
Total	$	1,094,400	$	1,538,605	$	2,633,005	$	2,134,231	$	2,060,083	$	15,815	$	45,431

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 and six-month periods ended June 30, 2023:


	Amortized cost at June 30, 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 June 30, 2023
Commercial, financial, leasing, etc.	$	21,595	$	415	$	—	$	200	$	22,210		0.05	%
Real estate:
Commercial		55,946		—		—		8,214		64,160		0.17	%
Residential builder and developer		85,008		—		—		—		85,008		7.49	%
Other commercial construction		123,924		—		—		8,248		132,172		1.95	%
Residential		38,356		—		—		1,131		39,487		0.17	%
Residential — limited documentation		3,075		—		—		701		3,776		0.38	%
Consumer:
Home equity lines and loans		359		135		—		264		758		0.02	%
Recreational finance		69		—		—		—		69		—
Automobile		181		—		—		—		181		—
Other		—		—		—		—		—		—
Total	$	328,513	$	550	$	—	$	18,758	$	347,821		0.26	%


Six Months Ended June 30, 2023
Commercial, financial, leasing, etc.	$	63,393	$	415	$	—	$	473	$	64,281	0.14	%
Real estate:
Commercial		171,361		—		—		8,214		179,575	0.49	%
Residential builder and developer		90,708		—		—		—		90,708	7.99	%
Other commercial construction		214,846		—		—		8,248		223,094	3.29	%
Residential		69,413		—		—		3,084		72,497	0.32	%
Residential — limited documentation		8,260		—		—		701		8,961	0.90	%
Consumer:
Home equity lines and loans		359		135		—		291		785	0.02	%
Recreational finance		203		—		—		—		203	—
Automobile		224		—		—		—		224	0.01	%
Other		—		—		—		—		—	—
Total	$	618,767	$	550	$	—	$	21,011	$	640,328	0.48	%

(a)

Predominantly payment deferrals combined with interest rate reductions.

(b)

Summary of Payment Status of Loans Modified

The following table summarizes the payment status, at June 30, 2023, of loans that were modified for the six-month period ended June 30, 2023:


	Payment status at June 30, 2023 (amortized cost)
	Current		30-89 Days Past Due		Past Due 90 Days or More (a)		Total
Six Months Ended June 30, 2023	(In thousands)

Commercial, financial, leasing, etc.	$	60,448	$	3,716	$	117	$	64,281
Real estate:
Commercial		177,753		426		1,396		179,575
Residential builder and developer		90,708		—		—		90,708
Other commercial construction		222,818		276		—		223,094
Residential (b)		53,545		14,798		4,154		72,497
Residential — limited documentation		6,745		1,600		616		8,961
Consumer:
Home equity lines and loans		785		—		—		785
Recreational finance		203		—		—		203
Automobile		224		—		—		224
Other		—		—		—		—
Total	$	613,229	$	20,816	$	6,283	$	640,328

(a) Predominantly loan modifications with payment deferrals.

(b) Includes loans guaranteed by government-related entities classified as 30-89 days past due of $11 million and as past due 90 days or more of $4 million.

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 and six-month periods ended June 30, 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.

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


					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 June 30, 2022

Commercial, financial, leasing, etc.		40	$	36,983	$	31,514	$	9	$	700	$	5,963	$	38,186
Real estate:
Commercial		13		2,816		1,454		—		—		1,330		2,784
Residential		67		18,481		14,284		—		—		5,038		19,322
Residential — limited documentation		—		—		—		—		—		—		—
Consumer:
Home equity lines and loans		33		2,633		2,597		—		—		93		2,690
Recreational finance		170		6,204		6,204		—		—		—		6,204
Automobile		529		9,771		9,771		—		—		—		9,771
Other		65		465		465		—		—		—		465
Total		917	$	77,353	$	66,289	$	9	$	700	$	12,424	$	79,422


Six Months Ended June 30, 2022

Commercial, financial, leasing, etc.	77	$	46,986	$	38,434	$	9	$	754	$	8,743	$	47,940
Real estate:
Commercial	30		10,398		5,830		—		2,101		2,185		10,116
Residential	164		42,532		29,727		—		—		14,999		44,726
Residential — limited documentation	5		1,076		894		—		—		193		1,087
Consumer:
Home equity lines and loans	68		4,783		4,585		—		—		265		4,850
Recreational finance	347		12,201		12,194		—		—		—		12,194
Automobile	1,063		20,034		20,004		—		—		—		20,004
Other	98		799		799		—		—		—		799
Total	1,852	$	138,809	$	112,467	$	9	$	2,855	$	26,385	$	141,716

_____________________________________________

(a)

Shareholders' Equity - Additional Information (Detail) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Equity [Abstract]
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, par value	$ 1	$ 1

Significant accounting policies (Policies)	6 Months Ended
Significant accounting policies (Policies)	Jun. 30, 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.

Comprehensive income (Tables)

6 Months Ended

Jun. 30, 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		3,392			—			—			3,392				(2,062	)		1,330
Foreign currency translation adjustment		—			—			3,550			3,550				(1,040	)		2,510
Unrealized losses on cash flow hedges		—			—			(207,774	)		(207,774	)			51,363			(156,411	)
Total other comprehensive income (loss) before reclassifications		3,392			—			(204,224	)		(200,832	)			48,261			(152,571	)
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Accretion of net gain on terminated cash flow hedges		—			—			(61	)		(61	)	(b)		16			(45	)
Net yield adjustment from cash flow hedges currently in effect		—			—			107,730			107,730		(a)		(26,631	)		81,099
Amortization of prior service credit		—			(927	)		—			(927	)	(c)		36			(891	)
Amortization of actuarial losses		—			(2,457	)		—			(2,457	)	(c)		95			(2,362	)
Total other comprehensive income (loss)		3,392			(3,384	)		(96,555	)		(96,547	)			21,777			(74,770	)
Balance — June 30, 2023	$	(440,800	)		(276,240	)		(445,684	)	$	(1,162,724	)			297,924		$	(864,800	)


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		(280,918	)		—			—			(280,918	)			72,691			(208,227	)
Foreign currency translation adjustment		—			—			(7,873	)		(7,873	)			1,961			(5,912	)
Unrealized losses on cash flow hedges		—			—			(174,371	)		(174,371	)			45,129			(129,242	)
Total other comprehensive income (loss) before reclassifications		(280,918	)		—			(182,244	)		(463,162	)			119,781			(343,381	)
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Amortization of unrealized holding losses on held-to-maturity securities		1,765			—			—			1,765		(a)		(456	)		1,309
Accretion of net gain on terminated cash flow hedges		—			—			(60	)		(60	)	(b)		17			(43	)
Net yield adjustment from cash flow hedges currently in effect		—			—			(57,966	)		(57,966	)	(a)		15,002			(42,964	)
Amortization of prior service credit		—			(1,128	)		—			(1,128	)	(c)		267			(861	)
Amortization of actuarial losses		—			9,206			—			9,206		(c)		(2,178	)		7,028
Total other comprehensive income (loss)		(279,153	)		8,078			(240,270	)		(511,345	)			132,433			(378,912	)
Balance — June 30, 2022	$	(174,462	)		(352,198	)		(156,739	)	$	(683,399	)			176,909		$	(506,490	)

(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		1,330			(3,253	)		(72,847	)		(74,770	)
Balance — June 30, 2023	$	(327,838	)	$	(205,439	)	$	(331,523	)	$	(864,800	)

Comprehensive Income - Accumulated Other Comprehensive Income (Loss), Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 25,377,171	$ 17,876,020	$ 25,317,990	$ 17,903,405
Net gain (loss) during period	(219,795)	(129,105)	(74,770)	(378,912)
Ending balance	25,800,933	25,794,531	25,800,933	25,794,531
Investment Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(329,168)
Net gain (loss) during period			1,330
Ending balance	(327,838)		(327,838)
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(202,186)
Net gain (loss) during period			(3,253)
Ending balance	(205,439)		(205,439)
Accumulated Other Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(258,676)
Net gain (loss) during period			(72,847)
Ending balance	(331,523)		(331,523)
Accumulated Other Comprehensive Income (Loss), Net [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(645,005)	(377,385)	(790,030)	(127,578)
Net gain (loss) during period			(74,770)
Ending balance	$ (864,800)	$ (506,490)	$ (864,800)	$ (506,490)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
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-Name Accounting Standards Codification
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-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

Investments, Debt and Equity Securities [Abstract]

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 1,848,386	$ 1,517,244
Interest-bearing deposits at banks	27,106,899	24,958,719
Federal funds sold		3,000
Trading account	137,240	117,847
Investment securities
Available for sale (cost: $11,248,458 at June 30, 2023; $11,193,152 at December 31, 2022)	10,807,659	10,748,961
Held to maturity (fair value: $14,713,496 at June 30, 2023; $12,375,420 at December 31, 2022)	15,918,106	13,529,969
Equity and other securities (cost: $1,191,927 at June 30, 2023; $933,766 at December 31, 2022)	1,190,690	931,941
Total investment securities	27,916,455	25,210,871
Loans and leases	134,061,568	132,074,156
Unearned discount	(717,839)	(509,993)
Loans and leases, net of unearned discount	133,343,729	131,564,163
Allowance for credit losses	(1,998,366)	(1,925,331)
Loans and leases, net	131,345,363	129,638,832
Premises and equipment	1,672,998	1,653,628
Goodwill	8,465,089	8,490,089
Core deposit and other intangible assets	177,221	209,374
Accrued interest and other assets	9,002,078	8,930,237
Total assets	207,671,729	200,729,841
Liabilities
Noninterest-bearing deposits	54,937,913	65,501,860
Savings and interest-checking deposits	88,046,247	87,911,463
Time deposits	19,074,220	10,101,545
Total deposits	162,058,380	163,514,868
Short-term borrowings	7,907,884	3,554,951
Accrued interest and other liabilities	4,487,894	4,377,495
Long-term borrowings	7,416,638	3,964,537
Total liabilities	181,870,796	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 June 30, 2023 and December 31, 2022; Liquidation preference of $10,000 per share: 140,000 shares at June 30, 2023 and December 31, 2022; Liquidation preference of $25 per share: 10,000,000 shares at June 30, 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 June 30, 2023 and December 31, 2022	89,718	89,718
Common stock issuable, 12,124 shares at June 30, 2023; 14,031 shares at December 31, 2022	972	1,112
Additional paid-in capital	10,000,335	10,002,891
Retained earnings	16,836,810	15,753,978
Accumulated other comprehensive income (loss), net	(864,800)	(790,030)
Treasury stock - common, at cost - 3,555,383 shares at June 30, 2023; 10,165,419 shares at December 31, 2022	(2,272,702)	(1,750,279)
Total shareholders’ equity	25,800,933	25,317,990
Total liabilities and shareholders’ equity	$ 207,671,729	$ 200,729,841

Investment securities

6 Months Ended

Jun. 30, 2023

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)
June 30, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	7,930,292	$	18	$	237,858	$	7,692,452
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		634,961		—		19,998		614,963
Residential		2,506,882		105		166,959		2,340,028
Other debt securities		176,323		111		16,218		160,216
		11,248,458		234		441,033		10,807,659
Investment securities held to maturity:
U.S. Treasury and federal agencies		1,049,342		—		48,391		1,000,951
Obligations of states and political subdivisions		2,549,551		2,009		103,344		2,448,216
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		2,029,755		—		148,315		1,881,440
Residential		10,241,181		—		909,050		9,332,131
Privately issued		46,636		9,249		6,768		49,117
Other debt securities		1,641		—		—		1,641
		15,918,106		11,258		1,215,868		14,713,496
Total debt securities	$	27,166,564	$	11,492	$	1,656,901	$	25,521,155
Equity and other securities:
Readily marketable equity — at fair value	$	219,405	$	2,137	$	3,374	$	218,168
Other — at cost		972,522		—		—		972,522
Total equity and other securities	$	1,191,927	$	2,137	$	3,374	$	1,190,690

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 three-month and six-month periods ended June 30, 2023 and 2022. Unrealized losses on equity securities are included in gain (loss) on bank investment securities in the Consolidated Statement of Income.

At June 30, 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	$	3,470,536	$	3,391,769
Due after one year through five years		4,576,316		4,410,215
Due after five years through ten years		29,763		26,430
Due after ten years		30,000		24,254
		8,106,615		7,852,668
Mortgage-backed securities available for sale		3,141,843		2,954,991
	$	11,248,458	$	10,807,659
Debt securities held to maturity:
Due in one year or less	$	76,348	$	76,153
Due after one year through five years		1,132,418		1,082,030
Due after five years through ten years		1,191,409		1,162,463
Due after ten years		1,200,359		1,130,162
		3,600,534		3,450,808
Mortgage-backed securities held to maturity		12,317,572		11,262,688
	$	15,918,106	$	14,713,496

3. Investment securities, continued


	Less Than 12 Months				12 Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In thousands)
June 30, 2023
Investment securities available for sale:
U.S. Treasury and federal agencies	$	3,030,061	$	77,628	$	4,657,228	$	160,230
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		84,889		2,187		530,074		17,811
Residential		599,600		25,579		1,718,645		141,380
Other debt securities		5,341		388		149,121		15,830
		3,719,891		105,782		7,055,068		335,251
Investment securities held to maturity:
U.S. Treasury and federal agencies		49,056		966		951,895		47,425
Obligations of states and political subdivisions		585,349		12,092		1,831,988		91,252
Mortgage-backed securities:
Government issued or guaranteed:
Commercial		1,070,875		42,712		810,565		105,603
Residential		2,885,964		62,203		6,446,167		846,847
Privately issued		1,986		82		34,677		6,686
		4,593,230		118,055		10,075,292		1,097,813
Total	$	8,313,121	$	223,837	$	17,130,360	$	1,433,064

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 4,281 individual debt securities with aggregate gross unrealized losses of $1.7 billion at June 30, 2023. Based on a review of each of the securities in the investment securities portfolio at June 30, 2023, the Company concluded that it expected to recover the amortized cost basis of its investment. As of June 30, 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 June 30, 2023, the Company has not identified events or changes in circumstances which may have a significant adverse effect on the fair value of the $973 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 June 30, 2023 or December 31, 2022.

At June 30, 2023 and December 31, 2022 investment securities with carrying values of $6.9 billion (including $548 million 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.

Loans and Leases and the Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Loans And Leases Receivable [Line Items]
Amount of foreclosed residential real estate property held	$ 43	$ 43	$ 41
Loans secured by residential real estate that were in the process of foreclosure	$ 173	$ 173	201
Percentage loans in the process of foreclosure, serviced by other entities, classified as government guaranteed	36.00%	36.00%
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	$ 16,900	$ 16,900
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	19,300	19,300
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	216	216	32
Commercial Real Estate Loans [Member] \| One-to-Four Family Residential [Member]
Loans And Leases Receivable [Line Items]
Mortgage loans held for sale	322	322	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	13,100	13,100
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	2,300	2,300
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	$ 10,900	$ 10,900
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 year 1 month 6 days
Commercial Real Estate Loans [Member]
Loans And Leases Receivable [Line Items]
Weighted-average remaining term	1 year	1 year 1 month 6 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	$ 1
Residential Real Estate Loans [Member]
Loans And Leases Receivable [Line Items]
Weighted-average remaining term	8 years 7 months 6 days	8 years 10 months 24 days

Revenue from Contracts with Customers - Additional Information (Detail1)	Jun. 30, 2023
Maximum [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01
Disaggregation Of Revenue [Line Items]
Period of satisfaction of contract with customer	1 year

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments

6 Months Ended

Jun. 30, 2023

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 June 30, 2023.

The net effect of interest rate swap agreements was to decrease net interest income by $63 million and $132 million during the three-month and six-month periods ended June 30, 2023, respectively, and to increase net interest income by $25 million and $72 million during the three-month and six-month periods ended June 30, 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)
June 30, 2023
Fair value hedges:
Fixed rate long-term borrowings (b) (e)	$	2,500,000		5.5		3.05	%		5.27	%	$	2,207
Cash flow hedges:
Interest payments on variable rate commercial real estate loans (b) (c)		18,727,000		2.0		3.31	%		5.09	%		(74	)
Total	$	21,227,000		2.4							$	2,133
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 $102.4 million at June 30, 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 $436.7 million at June 30, 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 $7.3 billion of forward-starting interest rate swap agreements that become effective in 2023 and 2024.

(d)

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

(e)

Excludes notional amount and terms of $500 million of forward-starting SOFR-based interest rate swap agreements that, in connection with LIBOR cessation, were entered into to succeed a like-amount of LIBOR-based interest rate swap agreements in the third quarter of 2023.

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. 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.

10. Derivative financial instruments, continued

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 $44.2 billion (excluding notional amounts of $13.6 billion of forward-starting SOFR-based interest rate swap agreements that, in connection with LIBOR cessation, were entered into to succeed a like-amount of LIBOR-based interest swap rate swap agreements in the third quarter of 2023) and $45.1 billion at June 30, 2023 and December 31, 2022, respectively. The notional amounts of foreign exchange and other option and futures contracts not designated as hedging instruments aggregated $1.7 billion at each of June 30, 2023 and December 31, 2022.

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
	June 30,		December 31,		June 30,		December 31,
	2023		2022		2023		2022
	(In thousands)
Derivatives designated and qualifying as hedging instruments (a)
Interest rate swap agreements	$	3,631	$	1,202	$	1,498	$	9,094
Commitments to sell real estate loans		9,545		3,037		45		9
		13,176		4,239		1,543		9,103
Derivatives not designated and qualifying as hedging instruments (a)
Mortgage banking:
Mortgage-related commitments to originate real estate loans for sale		3,137		452		40,315		46,025
Commitments to sell real estate loans		45,080		51,410		47		14
		48,217		51,862		40,362		46,039
Other:
Interest rate contracts (b)		293,761		355,806		1,234,889		1,278,180
Foreign exchange and other option and futures contracts		19,636		24,062		18,738		22,004
		313,397		379,868		1,253,627		1,300,184
Total derivatives	$	374,790	$	435,969	$	1,295,532	$	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 June 30, 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 $1.1 billion as of each period end, and in a liability position of $17.4 million and $29.2 million, respectively.


	Amount of Gain (Loss) Recognized
	Three Months Ended June 30
	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)	$	(46,429	)		47,202	$	(20,683	)		20,762

Derivatives not designated as hedging instruments
Interest rate contracts (b)	$	11,153				$	5,808
Foreign exchange and other option and futures contracts (b)		3,160					4,493
Total	$	14,313				$	10,301

10. Derivative financial instruments, continued


	Amount of Gain (Loss) Recognized
	Six Months Ended June 30
	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)	$	(34,392	)		35,183	$	(63,956	)		63,760

Derivatives not designated as hedging instruments
Interest rate contracts (b)	$	18,716				$	10,961
Foreign exchange and other option and futures contracts (b)		7,145					6,239
Total	$	25,861				$	17,200

(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
	June 30, 2023		December 31, 2022		June 30, 2023			December 31, 2022
	(In thousands)
Location in the Consolidated Balance Sheet of the Hedged Items in Fair Value Hedges

Long-term debt	$	2,394,614	$	1,433,731	$	(100,493	)	$	(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 $49 million and an increase of $20 million for the three months ended June 30, 2023 and 2022, respectively, and a decrease of $108 million and an increase of $58 million for the six-month period ended June 30, 2023 and 2022, respectively. As of June 30, 2023 the unrealized net loss recognized in other comprehensive income related to cash flow hedges was $437 million, of which losses of $12 million, $357 million and $68 million related to interest rate swap agreements maturing in 2024, 2025 and 2026, respectively.

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.

10. Derivative financial instruments, continued

The aggregate fair value of derivative financial instruments in a liability position, which are subject to master netting arrangements and the related collateral posted, was not material at each of June 30, 2023 and 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 June 30, 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 $286 million at June 30, 2023 and $314 million at December 31, 2022. Counterparties posted collateral relating to those positions of $262 million at June 30, 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 $96 million and $205 million at June 30, 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.

Borrowings - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Junior subordinated debentures		$ 538,000
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		$ 7,907,884	$ 3,554,951
Additional borrowing capacity		14,900,000
Available line of credit		16,100,000
Long-term borrowings		$ 7,416,638	$ 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%

Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	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	$ 11,248,458	$ 11,248,458	$ 11,193,152
Investment securities available for sale, gross unrealized gains	234		515
Investment securities available for sale, gross unrealized losses	441,033		444,706
Investment securities available for sale, estimated fair value	10,807,659		10,748,961
Amortized cost for held to maturity	15,918,106		13,529,969
Gross unrealized gains for held to maturity	11,258		10,288
Gross unrealized losses for held to maturity	1,215,868		1,164,837
Estimated fair value for held to maturity	14,713,496	14,713,496	12,375,420
Equity and other securities, Amortized Cost	1,191,927	$ 1,191,927	933,766
Equity securities, Gross Unrealized Gains	2,137		2,120
Equity securities, Gross Unrealized Losses	3,374		3,945
Equity and other securities, Estimated Fair Value	1,190,690		931,941
Other securities, Amortized cost	972,522		780,483
Other securities, Estimated fair value	972,522		780,483
Total debt securities Amortized cost	27,166,564		24,723,121
Total debt securities Gross unrealized gains	11,492		10,803
Total debt securities Gross unrealized losses	1,656,901		1,609,543
Total debt securities Estimated fair value	25,521,155		23,124,381
Readily marketable securities Amortized cost	219,405		153,283
Readily marketable securities Gross unrealized gains	2,137		2,120
Readily marketable securities Gross unrealized losses	3,374		3,945
Readily marketable securities Estimated fair value	218,168		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	7,930,292		7,913,932
Investment securities available for sale, gross unrealized gains	18		200
Investment securities available for sale, gross unrealized losses	237,858		243,172
Investment securities available for sale, estimated fair value	7,692,452		7,670,960
Amortized cost for held to maturity	1,049,342		1,054,035
Gross unrealized losses for held to maturity	48,391		45,747
Estimated fair value for held to maturity	1,000,951		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	2,549,551		2,577,078
Gross unrealized gains for held to maturity	2,009		4
Gross unrealized losses for held to maturity	103,344		116,512
Estimated fair value for held to maturity	2,448,216		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	634,961		594,779
Investment securities available for sale, gross unrealized losses	19,998		20,480
Investment securities available for sale, estimated fair value	614,963		574,299
Amortized cost for held to maturity	2,029,755		912,431
Gross unrealized losses for held to maturity	148,315		103,528
Estimated fair value for held to maturity	1,881,440		808,903
Residential [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Investment securities available for sale, amortized cost	2,506,882		2,501,334
Investment securities available for sale, gross unrealized gains	105		65
Investment securities available for sale, gross unrealized losses	166,959		171,281
Investment securities available for sale, estimated fair value	2,340,028		2,330,118
Amortized cost for held to maturity	10,241,181		8,934,918
Gross unrealized gains for held to maturity			1,451
Gross unrealized losses for held to maturity	909,050		891,063
Estimated fair value for held to maturity	9,332,131		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	176,323		183,107
Investment securities available for sale, gross unrealized gains	111		250
Investment securities available for sale, gross unrealized losses	16,218		9,773
Investment securities available for sale, estimated fair value	160,216		173,584
Amortized cost for held to maturity	1,641		1,765
Estimated fair value for held to maturity	1,641		1,765
Privately Issued [Member]
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities [Line Items]
Amortized cost for held to maturity	46,636		49,742
Gross unrealized gains for held to maturity	9,249		8,833
Gross unrealized losses for held to maturity	6,768		7,987
Estimated fair value for held to maturity	$ 49,117		$ 50,588

Derivative Financial Instruments - Information about Interest Rate Swap Agreements (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Notional Amount	$ 21,227,000	$ 17,400,000
Average Maturity (in years)	2 years 4 months 24 days	1 year 7 months 6 days
Estimated Fair Value Gain (Loss)	$ 2,133	$ (7,892)
Interest Payments On Variable Rate Commercial Real Estate Loans [Member] \| Cash Flow Hedges [Member]
Derivative [Line Items]
Notional Amount	$ 18,727,000	$ 15,900,000
Average Maturity (in years)	2 years	1 year 4 months 24 days
Weighted-Average Rate, Fixed	3.31%	1.91%
Weighted-Average Rate, Variable	5.09%	4.38%
Estimated Fair Value Gain (Loss)	$ (74)	$ (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 6 months	3 years 3 months 18 days
Weighted-Average Rate, Fixed	3.05%	2.98%
Weighted-Average Rate, Variable	5.27%	4.52%
Estimated Fair Value Gain (Loss)	$ 2,207	$ (833)

Acquisition and divestiture (Tables)

6 Months Ended

Jun. 30, 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
	Six months ended June 30, 2022
	(In thousands)
Total revenues (a)	$	3,900,483
Net income		757,459

(a)

Represents the total of net interest income and other income.

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

6 Months Ended

Apr. 01, 2022

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

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

Charge-offs

$ (162,224)

$ (75,614)

$ (257,163)

$ (126,652)

PCD Acquired Loans [Member]

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

Charge-offs

$ (33,000)

Non PCD Acquired Loans [Member]

(106,814)

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

Non PCD Acquired Loans Not Expected To Be Collected [Member]

^[1]

(260,498)

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

$ 242,000

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

Borrowings

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Borrowings

5. Borrowings

M&T had $538 million of fixed and variable rate junior subordinated deferrable interest debentures ("Junior Subordinated Debentures") outstanding at June 30, 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.

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 June 30, 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 $14.9 billion. M&T Bank also had an available line of credit with the Federal Reserve Bank of New York totaling approximately $16.1 billion at June 30, 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.

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.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

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

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

6 Months Ended

Jun. 30, 2023

USD ($)

Total revenues

$ 3,900,483

^[1]

Net income

$ 757,459

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

Fair value measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Estimated Fair Value on Recurring Basis

The following tables present assets and liabilities at June 30, 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)
June 30, 2023
Trading account	$	137,240	$	137,240	$	—	$	—
Investment securities available for sale:
U.S. Treasury and federal agencies		7,692,452		—		7,692,452		—
Mortgage-backed securities:
Government issued or guaranteed
Commercial		614,963		—		614,963		—
Residential		2,340,028		—		2,340,028		—
Other debt securities		160,216		—		160,216		—
		10,807,659		—		10,807,659		—
Equity securities		218,168		211,341		6,827		—
Real estate loans held for sale		538,306		—		538,306		—
Other assets (a)		374,790		—		371,653		3,137
Total assets	$	12,076,163	$	348,581	$	11,724,445	$	3,137
Other liabilities (a)		1,295,532		—		1,255,217		40,315
Total liabilities	$	1,295,532	$	—	$	1,255,217	$	40,315

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)

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 June 30, 2023 and 2022 were as follows:


	Other Assets and Other Liabilities
2023	(In thousands)

Balance — April 1, 2023	$	(28,141	)
Total losses realized/unrealized:
Included in earnings		(895	)	(a)
Transfers out of Level 3		(8,142	)	(b)
Balance — June 30, 2023	$	(37,178	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2023	$	(2,102	)	(a)

2022

Balance — April 1, 2022	$	(15,428	)
Total losses realized/unrealized:
Included in earnings		(6,609	)	(a)
Transfers out of Level 3		(2,144	)	(b)
Balance — June 30, 2022	$	(24,181	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2022	$	(8,441	)	(a)

The changes in Level 3 assets and liabilities measured at estimated fair value on a recurring basis during the six months ended June 30, 2023 and 2022 were as follows:


	Other Assets and Other Liabilities
	(In thousands)
2023
Balance — January 1, 2023	$	(45,573	)
Total gains realized/unrealized:
Included in earnings		16,456		(a)
Transfers out of Level 3		(8,061	)	(b)
Balance — June 30, 2023	$	(37,178	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2023	$	10,543		(a)

2022
Balance — January 1, 2022	$	6,440
Total losses realized/unrealized:
Included in earnings		(25,309	)	(a)
Transfers out of Level 3		(5,312	)	(b)
Balance — June 30, 2022	$	(24,181	)
Changes in net unrealized gains (losses) included in earnings related to instruments still held at June 30, 2022	$	3,405		(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.

Quantitative Information Related to Significant Unobservable Inputs


	Fair Value			Valuation Technique	Unobservable Inputs / Assumptions	Range (Weighted- Average)
	(In thousands)
June 30, 2023
Recurring fair value measurements
Net other assets (liabilities) (a)	$	(37,178	)	Discounted cash flow	Commitment expirations	0% - 97% (10%)

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:


	June 30, 2023
	Carrying Amount			Estimated Fair Value			Level 1		Level 2			Level 3
	(In thousands)
Financial assets:
Cash and cash equivalents	$	1,848,386			1,848,386			1,780,005		68,381			—
Interest-bearing deposits at banks		27,106,899			27,106,899			—		27,106,899			—
Trading account		137,240			137,240			137,240		—			—
Investment securities		27,916,455			26,711,845			211,341		26,451,387			49,117
Loans and leases:
Commercial loans and leases		44,683,549			43,817,470			—		—			43,817,470
Commercial real estate loans		44,648,711			42,386,809			—		322,029			42,064,780
Residential real estate loans		23,762,217			21,800,553			—		7,256,914			14,543,639
Consumer loans		20,249,252			19,335,779			—		—			19,335,779
Allowance for credit losses		(1,998,366	)		—			—		—			—
Loans and leases, net		131,345,363			127,340,611			—		7,578,943			119,761,668
Accrued interest receivable		695,030			695,030			—		695,030			—
Financial liabilities:
Noninterest-bearing deposits	$	(54,937,913	)		(54,937,913	)		—		(54,937,913	)		—
Savings and interest-checking deposits		(88,046,247	)		(88,046,247	)		—		(88,046,247	)		—
Time deposits		(19,074,220	)		(18,968,171	)		—		(18,968,171	)		—
Short-term borrowings		(7,907,884	)		(7,907,884	)		—		(7,907,884	)		—
Long-term borrowings		(7,416,638	)		(7,091,668	)		—		(7,091,668	)		—
Accrued interest payable		(389,251	)		(389,251	)		—		(389,251	)		—
Other financial instruments:
Commitments to originate real estate loans for sale	$	(37,178	)		(37,178	)		—		—			(37,178	)
Commitments to sell real estate loans		54,533			54,533			—		54,533			—
Other credit-related commitments		(155,903	)		(155,903	)		—		—			(155,903	)
Interest rate swap agreements used for interest rate risk management		2,133			2,133			—		2,133			—
Interest rate and foreign exchange contracts not designated as hedging instruments		(940,230	)		(940,230	)		—		(940,230	)		—

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	)		—

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 867,034	$ 217,522	$ 1,568,658	$ 579,696

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
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-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Variable interest entities and asset securitizations

Variable interest entities and asset securitizations

6 Months Ended

Jun. 30, 2023

Text Block [Abstract]

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 June 30, 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 $9.7 billion at June 30, 2023 and $9.2 billion at 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 each of June 30, 2023 and December 31, 2022, including $522 million and $545 million of unfunded commitments, at each of those respective dates. Contingent commitments to provide additional capital contributions to these partnerships were $52 million at June 30, 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 June 30, 2023 was $2.1 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 $42 million and $82 million of its investments in qualified affordable housing projects to income tax expense during the three-month and six-month periods ended June 30, 2023, respectively, and recognized $49 million and $95 million of tax credits and other tax benefits during those respective periods. Similarly, for the three-month and six-month periods ended June 30, 2022, the Company amortized $36 million and $57 million of its investments in qualified affordable housing projects to income tax expense, respectively, and recognized $42 million and $65 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.

Derivative financial instruments (Tables)

6 Months Ended

Jun. 30, 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)
June 30, 2023
Fair value hedges:
Fixed rate long-term borrowings (b) (e)	$	2,500,000		5.5		3.05	%		5.27	%	$	2,207
Cash flow hedges:
Interest payments on variable rate commercial real estate loans (b) (c)		18,727,000		2.0		3.31	%		5.09	%		(74	)
Total	$	21,227,000		2.4							$	2,133
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 $7.3 billion of forward-starting interest rate swap agreements that become effective in 2023 and 2024.

(d)

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

(e)

Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet

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
	June 30,		December 31,		June 30,		December 31,
	2023		2022		2023		2022
	(In thousands)
Derivatives designated and qualifying as hedging instruments (a)
Interest rate swap agreements	$	3,631	$	1,202	$	1,498	$	9,094
Commitments to sell real estate loans		9,545		3,037		45		9
		13,176		4,239		1,543		9,103
Derivatives not designated and qualifying as hedging instruments (a)
Mortgage banking:
Mortgage-related commitments to originate real estate loans for sale		3,137		452		40,315		46,025
Commitments to sell real estate loans		45,080		51,410		47		14
		48,217		51,862		40,362		46,039
Other:
Interest rate contracts (b)		293,761		355,806		1,234,889		1,278,180
Foreign exchange and other option and futures contracts		19,636		24,062		18,738		22,004
		313,397		379,868		1,253,627		1,300,184
Total derivatives	$	374,790	$	435,969	$	1,295,532	$	1,355,326

(a)

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

(b)


	Carrying Amount of the Hedged Item				Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount of the Hedged Item
	June 30, 2023		December 31, 2022		June 30, 2023			December 31, 2022
	(In thousands)
Location in the Consolidated Balance Sheet of the Hedged Items in Fair Value Hedges

Long-term debt	$	2,394,614	$	1,433,731	$	(100,493	)	$	(65,310	)

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


	Amount of Gain (Loss) Recognized
	Three Months Ended June 30
	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)	$	(46,429	)		47,202	$	(20,683	)		20,762

Derivatives not designated as hedging instruments
Interest rate contracts (b)	$	11,153				$	5,808
Foreign exchange and other option and futures contracts (b)		3,160					4,493
Total	$	14,313				$	10,301

10. Derivative financial instruments, continued


	Amount of Gain (Loss) Recognized
	Six Months Ended June 30
	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)	$	(34,392	)		35,183	$	(63,956	)		63,760

Derivatives not designated as hedging instruments
Interest rate contracts (b)	$	18,716				$	10,961
Foreign exchange and other option and futures contracts (b)		7,145					6,239
Total	$	25,861				$	17,200

(a)

Reported as an adjustment to interest expense.

(b)

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

Shareholders' Equity - Issued and Outstanding Preferred Stock (Parenthetical) (Detail) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, liquidation preference per share	$ 25	$ 25

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Accounting Changes and Error Corrections [Abstract]

Segment Information - Summary of Segment Information (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Segment Reporting Information [Line Items]
Average total assets	$ 203,492	$ 190,252	$ 180,414
Business Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	7,905	7,597	7,316
Commercial Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	49,166	40,930	35,696
Commercial Real Estate [Member]
Segment Reporting Information [Line Items]
Average total assets	32,000	30,599	29,032
Discretionary Portfolio [Member]
Segment Reporting Information [Line Items]
Average total assets	50,930	42,657	36,292
Residential Mortgage Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	2,723	3,986	5,014
Retail Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	21,322	20,312	19,690
All Other [Member]
Segment Reporting Information [Line Items]
Average total assets	$ 39,446	$ 44,171	$ 47,374

Comprehensive income

6 Months Ended

Jun. 30, 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		3,392			—			—			3,392				(2,062	)		1,330
Foreign currency translation adjustment		—			—			3,550			3,550				(1,040	)		2,510
Unrealized losses on cash flow hedges		—			—			(207,774	)		(207,774	)			51,363			(156,411	)
Total other comprehensive income (loss) before reclassifications		3,392			—			(204,224	)		(200,832	)			48,261			(152,571	)
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Accretion of net gain on terminated cash flow hedges		—			—			(61	)		(61	)	(b)		16			(45	)
Net yield adjustment from cash flow hedges currently in effect		—			—			107,730			107,730		(a)		(26,631	)		81,099
Amortization of prior service credit		—			(927	)		—			(927	)	(c)		36			(891	)
Amortization of actuarial losses		—			(2,457	)		—			(2,457	)	(c)		95			(2,362	)
Total other comprehensive income (loss)		3,392			(3,384	)		(96,555	)		(96,547	)			21,777			(74,770	)
Balance — June 30, 2023	$	(440,800	)		(276,240	)		(445,684	)	$	(1,162,724	)			297,924		$	(864,800	)


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		(280,918	)		—			—			(280,918	)			72,691			(208,227	)
Foreign currency translation adjustment		—			—			(7,873	)		(7,873	)			1,961			(5,912	)
Unrealized losses on cash flow hedges		—			—			(174,371	)		(174,371	)			45,129			(129,242	)
Total other comprehensive income (loss) before reclassifications		(280,918	)		—			(182,244	)		(463,162	)			119,781			(343,381	)
Amounts reclassified from accumulated other comprehensive income (loss) that (increase) decrease net income:
Amortization of unrealized holding losses on held-to-maturity securities		1,765			—			—			1,765		(a)		(456	)		1,309
Accretion of net gain on terminated cash flow hedges		—			—			(60	)		(60	)	(b)		17			(43	)
Net yield adjustment from cash flow hedges currently in effect		—			—			(57,966	)		(57,966	)	(a)		15,002			(42,964	)
Amortization of prior service credit		—			(1,128	)		—			(1,128	)	(c)		267			(861	)
Amortization of actuarial losses		—			9,206			—			9,206		(c)		(2,178	)		7,028
Total other comprehensive income (loss)		(279,153	)		8,078			(240,270	)		(511,345	)			132,433			(378,912	)
Balance — June 30, 2022	$	(174,462	)		(352,198	)		(156,739	)	$	(683,399	)			176,909		$	(506,490	)

(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		1,330			(3,253	)		(72,847	)		(74,770	)
Balance — June 30, 2023	$	(327,838	)	$	(205,439	)	$	(331,523	)	$	(864,800	)

Recent accounting developments

6 Months Ended

Jun. 30, 2023

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 June 30, 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.

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.

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Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Partners' Capital [Abstract]
Net Income (Loss)	$ 867,034	$ 217,522	$ 1,568,658	$ 579,696
Other comprehensive income (loss), net of tax and reclassification adjustments:
Net unrealized gains (losses) on investment securities	(63,810)	(70,551)	1,330	(206,918)
Cash flow hedges adjustments	(156,290)	(58,188)	(75,357)	(172,249)
Foreign currency translation adjustments	1,316	(4,264)	2,510	(5,912)
Defined benefit plans liability adjustments	(1,011)	3,898	(3,253)	6,167
Total other comprehensive income (loss)	(219,795)	(129,105)	(74,770)	(378,912)
Total comprehensive income	$ 647,239	$ 88,417	$ 1,493,888	$ 200,784

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

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

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

Fair Value Measurements - Carrying Amounts and Estimated Fair Value for Financial Instrument Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Financial assets:
Interest-bearing deposits at banks	$ 27,106,899		$ 24,958,719
Federal funds sold			3,000
Investment securities	27,916,455		25,210,871
Loans and leases:
Loans and leases	134,061,568		132,074,156
Allowance for credit losses	(1,998,366)	$ (1,975,110)	(1,925,331)	$ (1,823,790)	$ (1,472,359)	$ (1,469,226)
Loans and leases, net	131,345,363		129,638,832
Financial liabilities:
Noninterest-bearing deposits	(54,937,913)		(65,501,860)
Savings and interest-checking deposits	(88,046,247)		(87,911,463)
Time deposits	(19,074,220)		(10,101,545)
Long-term borrowings	(7,416,638)		(3,964,537)
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets:
Cash and cash equivalents	1,780,005		1,371,688
Trading account	137,240		117,847
Investment securities	211,341		145,289
Significant Observable Inputs (Level 2) [Member]
Financial assets:
Cash and cash equivalents	68,381		145,556
Interest-bearing deposits at banks	27,106,899		24,958,719
Federal funds sold			3,000
Investment securities	26,451,387		23,860,445
Loans and leases:
Loans and leases, net	7,578,943		7,180,192
Accrued interest receivable	695,030		646,250
Financial liabilities:
Noninterest-bearing deposits	(54,937,913)		(65,501,860)
Savings and interest-checking deposits	(88,046,247)		(87,911,463)
Time deposits	(18,968,171)		(10,143,110)
Short-term borrowings	(7,907,884)		(3,554,951)
Long-term borrowings	(7,091,668)		(3,926,489)
Accrued interest payable	(389,251)		(81,356)
Other financial instruments:
Commitments to sell real estate loans	54,533		54,424
Interest rate swap agreements used for interest rate risk management	2,133		(7,892)
Interest rate and foreign exchange contracts not designated as hedging instruments	(940,230)		(920,316)
Significant Unobservable Inputs (Level 3) [Member]
Financial assets:
Investment securities	49,117		50,588
Loans and leases:
Consumer loans	19,335,779		20,093,523
Loans and leases, net	119,761,668		119,048,176
Other financial instruments:
Commitments to originate real estate loans for sale	(37,178)		(45,573)
Other credit-related commitments	(155,903)		(148,772)
Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	1,848,386		1,517,244
Interest-bearing deposits at banks	27,106,899		24,958,719
Federal funds sold			3,000
Trading account	137,240		117,847
Investment securities	27,916,455		25,210,871
Loans and leases:
Consumer loans	20,249,252		20,593,079
Allowance for credit losses	(1,998,366)		(1,925,331)
Loans and leases, net	131,345,363		129,638,832
Accrued interest receivable	695,030		646,250
Financial liabilities:
Noninterest-bearing deposits	(54,937,913)		(65,501,860)
Savings and interest-checking deposits	(88,046,247)		(87,911,463)
Time deposits	(19,074,220)		(10,101,545)
Short-term borrowings	(7,907,884)		(3,554,951)
Long-term borrowings	(7,416,638)		(3,964,537)
Accrued interest payable	(389,251)		(81,356)
Other financial instruments:
Commitments to originate real estate loans for sale	(37,178)		(45,573)
Commitments to sell real estate loans	54,533		54,424
Other credit-related commitments	(155,903)		(148,772)
Interest rate swap agreements used for interest rate risk management	2,133		(7,892)
Interest rate and foreign exchange contracts not designated as hedging instruments	(940,230)		(920,316)
Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Financial assets:
Cash and cash equivalents	1,848,386		1,517,244
Interest-bearing deposits at banks	27,106,899		24,958,719
Federal funds sold			3,000
Trading account	137,240		117,847
Investment securities	26,711,845		24,056,322
Loans and leases:
Consumer loans	19,335,779		20,093,523
Loans and leases, net	127,340,611		126,228,368
Accrued interest receivable	695,030		646,250
Financial liabilities:
Noninterest-bearing deposits	(54,937,913)		(65,501,860)
Savings and interest-checking deposits	(88,046,247)		(87,911,463)
Time deposits	(18,968,171)		(10,143,110)
Short-term borrowings	(7,907,884)		(3,554,951)
Long-term borrowings	(7,091,668)		(3,926,489)
Accrued interest payable	(389,251)		(81,356)
Other financial instruments:
Commitments to originate real estate loans for sale	(37,178)		(45,573)
Commitments to sell real estate loans	54,533		54,424
Other credit-related commitments	(155,903)		(148,772)
Interest rate swap agreements used for interest rate risk management	2,133		(7,892)
Interest rate and foreign exchange contracts not designated as hedging instruments	(940,230)		(920,316)
Commercial Loans and Leases [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Loans and leases:
Loans and leases	43,817,470		41,139,985
Commercial Loans and Leases [Member] \| Carrying Amount [Member]
Loans and leases:
Loans and leases	44,683,549		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	43,817,470		41,139,985
Commercial [Member] \| Significant Observable Inputs (Level 2) [Member]
Loans and leases:
Loans and leases	322,029		130,652
Commercial [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Loans and leases:
Loans and leases	42,064,780		43,083,994
Commercial [Member] \| Carrying Amount [Member]
Loans and leases:
Loans and leases	44,648,711		45,364,571
Commercial [Member] \| Cumulative Amount of Fair Value Hedging Adjustment Increasing (Decreasing) the Carrying Amount [Member]
Loans and leases:
Loans and leases	42,386,809		43,214,646
Residential Real Estate Loans \| Significant Observable Inputs (Level 2) [Member]
Loans and leases:
Loans and leases	7,256,914		7,049,540
Residential Real Estate Loans \| Significant Unobservable Inputs (Level 3) [Member]
Loans and leases:
Loans and leases	14,543,639		14,730,674
Residential Real Estate Loans \| Carrying Amount [Member]
Loans and leases:
Loans and leases	23,762,217		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	$ 21,800,553		$ 21,780,214

Pension Plans and Other Postretirement Benefits - Net Periodic Defined Benefit Cost for Defined Benefit Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,952	$ 4,543	$ 5,675	$ 8,814
Interest cost on projected benefit obligation	28,888	22,080	57,723	38,347
Expected return on plan assets	(50,230)	(50,083)	(100,630)	(87,233)
Amortization of prior service cost (credit)	53	133	103	258
Amortization of net actuarial loss (gain)	(173)	5,322	(1,073)	9,947
Net periodic cost (benefit)	$ (18,510)	$ (18,005)	$ (38,202)	$ (29,867)
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	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 Noninterest Expense	Other Noninterest Expense
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 410	$ 993	$ 800	$ 1,225
Interest cost on projected benefit obligation	662	671	1,406	1,026
Amortization of prior service cost (credit)	(505)	(311)	(1,030)	(1,386)
Amortization of net actuarial loss (gain)	(734)	(416)	(1,384)	(741)
Net periodic cost (benefit)	$ (167)	$ 937	$ (208)	$ 124
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	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 Noninterest Expense	Other Noninterest Expense

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

6 Months Ended

Jun. 30, 2023

Text Block [Abstract]

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 June 30, 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 six-month periods ended June 30, 2023 and 2022, respectively. There were no cash distributions during the three-month periods ended June 30, 2023 and 2022.

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 $1.3 billion and $1.4 billion at June 30, 2023 and December 31, 2022, respectively. Revenues from those servicing rights were $2 million in each of the three-month periods ended June 30, 2023 and 2022, and $3 million and $4 million for the six-month periods ended June 30, 2023 and 2022, respectively. The Company sub-services residential mortgage loans for Bayview Financial having outstanding principal balances of $112.8 billion and $96.0 billion at June 30, 2023 and December 31, 2022, respectively. Revenues earned for sub-servicing loans for Bayview Financial were $32 million and $44 million for the three-month periods ended June 30, 2023 and 2022, respectively, and $64 million and $86 million in the six-month periods ended June 30, 2023 and 2022, respectively. In addition, the Company held $47 million and $50 million of mortgage-backed securities in its held-to-maturity portfolio at June 30, 2023 and December 31, 2022, respectively, that were securitized by Bayview Financial. At June 30, 2023, the Company held $481 million of Bayview Financial's $2.4 billion syndicated loan facility.

Earnings Per Common Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	2,284,597	573,924	1,828,360	345,345

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Aug. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
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		165,948,636
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

Derivative Financial Instruments - Information about Fair Values of Derivative Instruments in Consolidated Balance Sheet (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Offsetting [Abstract]
Reduction in estimated fair value of interest rate contracts in asset position	$ 1,100.0		$ 1,100.0
Reduction in estimated fair value of interest rate contracts in liability position		$ 17.4	$ 29.2

Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Investment securities, available for sale, amortized cost	$ 11,248,458	$ 11,193,152
Investment securities, held to maturity, fair value	14,713,496	12,375,420
Equity and other securities, cost	$ 1,191,927	$ 933,766
Preferred stock, par value	$ 1	$ 1
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	12,124	14,031
Treasury stock, common shares	13,555,383	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

Segment Information - Information about Company's Segments (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Taxable-equivalent adjustment	$ 13,886,000	$ 10,726,000	$ 27,348,000	$ 13,960,000
Average total assets	203,492,000	180,414,000	203,492,000	180,414,000	$ 190,252,000
Commercial Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	49,166,000	35,696,000	49,166,000	35,696,000	40,930,000
Hospitality [Member]
Segment Reporting Information [Line Items]
Average total assets		1,250,000		1,250,000
Retail Banking [Member]
Segment Reporting Information [Line Items]
Average total assets	21,322,000	19,690,000	21,322,000	19,690,000	20,312,000
Retail Banking [Member] \| Peoples United Financial Inc [Member]
Segment Reporting Information [Line Items]
Average total assets		4,720,000		4,720,000
Other Segments [Member]
Segment Reporting Information [Line Items]
Average total assets	$ 39,446,000	47,374,000	$ 39,446,000	47,374,000	$ 44,171,000
Other Segments [Member] \| Peoples United Financial Inc [Member]
Segment Reporting Information [Line Items]
Average total assets		$ 591,000		$ 591,000

Earnings per common share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Computations of Basic Earnings Per Common Share

The computations of basic earnings per common share follow:


	Three Months Ended June 30						Six Months Ended June 30
	2023			2022			2023			2022
	(In thousands, except per share)

Income available to common shareholders:
Net income	$	867,034		$	217,522		$	1,568,658		$	579,696
Less: Preferred stock dividends		(24,940	)		(24,941	)		(49,881	)		(46,706	)
Net income available to common equity		842,094			192,581			1,518,777			532,990
Less: Income attributable to unvested stock-based compensation awards		(1,574	)		(345	)		(2,731	)		(1,076	)
Net income available to common shareholders	$	840,520		$	192,236		$	1,516,046		$	531,914
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		166,152			177,682			167,076			153,612
Less: Unvested stock-based compensation awards		(310	)		(315	)		(294	)		(322	)
Weighted-average shares outstanding		165,842			177,367			166,782			153,290

Basic earnings per common share	$	5.07		$	1.08		$	9.09		$	3.47

Computations of Diluted Earnings Per Common Share

The computations of diluted earnings per common share follow:


	Three Months Ended June 30						Six Months Ended June 30
	2023			2022			2023			2022
	(In thousands, except per share)

Net income available to common equity	$	842,094		$	192,581		$	1,518,777		$	532,990
Less: Income attributable to unvested stock-based compensation awards		(1,570	)		(345	)		(2,725	)		(1,074	)
Net income available to common shareholders	$	840,524		$	192,236		$	1,516,052		$	531,916
Adjusted weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		166,152			177,682			167,076			153,612
Less: Unvested stock-based compensation awards		(310	)		(315	)		(294	)		(322	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards		478			910			577			691
Adjusted weighted-average shares outstanding		166,320			178,277			167,359			153,981

Diluted earnings per common share	$	5.05		$	1.08		$	9.06		$	3.45

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative [Line Items]
Notional amounts of derivative contracts entered into for trading account purposes	$ 21,227,000		$ 21,227,000		$ 17,400,000
Unrealized net loss recognized in other comprehensive income related to cash flow hedges			437,000
Aggregate fair value of derivative financial instruments in asset position	286,000		286,000		314,000
Collateral relating to net asset positions	262,000		262,000		312,000
Clearinghouse Credit Facilities [Member]
Derivative [Line Items]
Amount of initial margin posted	96,000		96,000		205,000
Interest Income [Member]
Derivative [Line Items]
Changes in Cash Flow Hedges Derivative Instruments At Fair Value Net	108,000	$ 58,000	108,000	$ 58,000
Change in Cash Flow Hedges Derivative Instruments At Fair Value Net	49,000	20,000
Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Increase decrease in net interest income due to interest rate swap agreements	$ 63,000	$ 25,000	$ 132,000	$ 72,000
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 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			$ 12,000
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			357,000
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			68,000
Forward-Starting SOFR-Based Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Notional amounts of derivative contracts entered into for trading account purposes	$ 13,600,000		13,600,000
Interest Rate Contracts [Member]
Derivative [Line Items]
Notional amounts of derivative contracts entered into for trading account purposes	44,200,000		44,200,000		45,100,000
Foreign Exchange and Other Option and Futures Contracts [Member]
Derivative [Line Items]
Notional amounts of derivative contracts entered into for trading account purposes	$ 1,700,000		$ 1,700,000		$ 1,700,000

Commitments and Contingencies - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended
	May 11, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Loss Contingencies [Line Items]
Commitments to extend credit to commercial customers		$ 12,500,000,000		$ 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		3,900,000,000		3,900,000,000		3,900,000,000
Estimate assessed losses	$ 15,800,000,000
Estimated uninsured deposits						$ 5,000,000,000
Annual special assessment rate	0.125%
Quarterly special assessment rate	0.0313%
FDIC assessments		27,932,000	$ 22,585,000	57,690,000	$ 38,161,000
FDIC estimated assessment				183,000,000
Minimum [Member]
Loss Contingencies [Line Items]
Range of reasonably possible losses		0		0
Maximum [Member]
Loss Contingencies [Line Items]
Range of reasonably possible losses		$ 25,000,000		$ 25,000,000

Investment Securities - Investment Securities in Continuous Unrealized Loss Position (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	$ 3,719,891	$ 9,670,043
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	105,782	377,333
Estimated fair value, 12 months or more	7,055,068	943,530
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	335,251	67,373
Held to maturity, Estimated fair value, Less than 12 months	4,593,230	10,559,073
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	118,055	885,190
Held to maturity, Estimated fair value, 12 months or more	10,075,292	1,354,961
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	1,097,813	279,647
Total investment securities, fair value less than 12 months	8,313,121	20,229,116
Investment Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses	223,837	1,262,523
Total of investment securities, fair value, 12 Months or More	17,130,360	2,298,491
Investment Securities Continuous Unrealized Loss Position Twelve Months or Longer Aggregate Losses	1,433,064	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	3,030,061	6,706,413
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	77,628	183,760
Estimated fair value, 12 months or more	4,657,228	841,945
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	160,230	59,412
Held to maturity, Estimated fair value, Less than 12 months	49,056	1,008,288
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	966	45,747
Held to maturity, Estimated fair value, 12 months or more	951,895
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	47,425
Commercial [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	84,889	574,299
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	2,187	20,480
Estimated fair value, 12 months or more	530,074
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	17,811
Held to maturity, Estimated fair value, Less than 12 months	1,070,875	808,903
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	42,712	103,528
Held to maturity, Estimated fair value, 12 months or more	810,565
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	105,603
Residential [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	599,600	2,295,873
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	25,579	169,489
Estimated fair value, 12 months or more	1,718,645	28,305
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	141,380	1,792
Held to maturity, Estimated fair value, Less than 12 months	2,885,964	6,292,462
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	62,203	619,403
Held to maturity, Estimated fair value, 12 months or more	6,446,167	1,319,300
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	846,847	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	585,349	2,449,420
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	12,092	116,512
Held to maturity, Estimated fair value, 12 months or more	1,831,988
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	91,252
Other Debt Securities [Member]
Schedule Of Available For Sale Securities And Held To Maturity [Line Items]
Estimated fair value, Less than 12 months	5,341	93,458
Available For Sale Securities Continuous Unrealized Losses Position Less Than Twelve Months Aggregate Losses	388	3,604
Estimated fair value, 12 months or more	149,121	73,280
Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or More Aggregate Losses	15,830	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	1,986
Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Aggregate Losses	82
Held to maturity, Estimated fair value, 12 months or more	34,677	35,661
Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Aggregate Losses	$ 6,686	$ 7,987

Loans and Leases and the Allowance for Credit Losses - Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 1,975,110	$ 1,472,359	$ 1,925,331	$ 1,469,226
Allowance on acquired PCD loans		99,000		99,000
Provision for credit losses	150,000	302,000	270,000	312,000
Net charge-offs
Charge-offs	(162,224)	(75,614)	(257,163)	(126,652)
Recoveries	35,480	26,045	60,198	70,216
Net (charge-offs) recoveries	(126,744)	(49,569)	(196,965)	(56,436)
Ending balance	1,998,366	1,823,790	1,998,366	1,823,790
Commercial, Financial, Leasing, etc. [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	504,779	307,055	502,153	283,899
Allowance on acquired PCD loans		41,003		41,003
Provision for credit losses	11,977	95,917	24,164	124,642
Net charge-offs
Charge-offs	(21,258)	(37,925)	(40,260)	(57,159)
Recoveries	16,431	8,423	25,872	22,088
Net (charge-offs) recoveries	(4,827)	(29,502)	(14,388)	(35,071)
Ending balance	511,929	414,473	511,929	414,473
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	743,621	539,444	676,684	557,239
Allowance on acquired PCD loans		55,812		55,812
Provision for credit losses	121,092	120,277	217,084	89,339
Net charge-offs
Charge-offs	(101,589)	(8,796)	(131,974)	(10,596)
Recoveries	2,552	1,656	3,882	16,599
Net (charge-offs) recoveries	(99,037)	(7,140)	(128,092)	6,003
Ending balance	765,676	708,393	765,676	708,393
Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	113,192	72,581	115,092	71,726
Allowance on acquired PCD loans		1,833		1,833
Provision for credit losses	3,957	50,168	2,435	51,888
Net charge-offs
Charge-offs	(1,072)	(2,863)	(2,773)	(6,835)
Recoveries	2,315	2,607	3,638	5,714
Net (charge-offs) recoveries	1,243	(256)	865	(1,121)
Ending balance	118,392	124,326	118,392	124,326
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	613,518	553,279	631,402	556,362
Allowance on acquired PCD loans		352		352
Provision for credit losses	12,974	35,638	26,317	46,131
Net charge-offs
Charge-offs	(38,305)	(26,030)	(82,156)	(52,062)
Recoveries	14,182	13,359	26,806	25,815
Net (charge-offs) recoveries	(24,123)	(12,671)	(55,350)	(26,247)
Ending balance	$ 602,369	$ 576,598	$ 602,369	$ 576,598

Pension plans and other postretirement benefits

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Pension plans and other postretirement benefits

7. Pension plans and other postretirement benefits


	Pension Benefits						Other Postretirement Benefits
	Three Months Ended June 30
	2023			2022			2023			2022
	(In thousands)

Service cost	$	2,952		$	4,543		$	410		$	993
Interest cost on projected benefit obligation		28,888			22,080			662			671
Expected return on plan assets		(50,230	)		(50,083	)		—			—
Amortization of prior service cost (credit)		53			133			(505	)		(311	)
Amortization of net actuarial loss (gain)		(173	)		5,322			(734	)		(416	)
Net periodic cost (benefit)	$	(18,510	)	$	(18,005	)	$	(167	)	$	937


	Pension Benefits						Other Postretirement Benefits
	Six Months Ended June 30
	2023			2022			2023			2022
	(In thousands)

Service cost	$	5,675		$	8,814		$	800		$	1,225
Interest cost on projected benefit obligation		57,723			38,347			1,406			1,026
Expected return on plan assets		(100,630	)		(87,233	)		—			—
Amortization of prior service cost (credit)		103			258			(1,030	)		(1,386	)
Amortization of net actuarial loss (gain)		(1,073	)		9,947			(1,384	)		(741	)
Net periodic cost (benefit)	$	(38,202	)	$	(29,867	)	$	(208	)	$	124

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 $36 million and $35 million for the three months ended June 30, 2023 and 2022, respectively, and $80 million and $66 million for the six months ended June 30, 2023 and 2022, respectively, and are included in salaries and employee benefits expense.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
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