Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P.	12 Months Ended
Dec. 31, 2019
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Relationship with Bayview Lending Group LLC and Bayview Financial Holdings, L.P.	24. 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. M&T recognizes income or loss from BLG using the equity method of accounting. That investment had no remaining carrying value at December 31, 2019 as a result of cumulative losses recognized and cash distributions received in prior years. Income recognized by M&T is included in other revenues from operations and totaled $37 million in 2019 and $24 million in 2018. Income recognized in 2017 was not significant. Bayview Financial Holdings, L.P. (together with its affiliates, “Bayview Financial”), a privately-held specialty financial 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 $2.2 billion and $2.5 billion at December 31, 2019 and 2018, respectively. Revenues from those servicing rights were $12 million, $14 million and $17 million during 2019, 2018 and 2017, respectively. The Company sub-services residential mortgage loans for Bayview Financial having outstanding principal balances of $62.8 billion and $56.8 billion at December 31, 2019 and 2018, respectively. Revenues earned for sub-servicing loans for Bayview Financial were $125 million, $114 million and $103 million in 2019, 2018 and 2017, respectively. In addition, the Company held $93 million and $113 million of mortgage-backed securities in its held-to-maturity portfolio at December 31, 2019 and 2018, respectively, that were securitized by Bayview Financial. At December 31, 2019, the Company held $88 million of Bayview Financial’s $702 million syndicated loan facility.

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

12 Months Ended

Dec. 31, 2019

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

24. 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. M&T recognizes income or loss from BLG using the equity method of accounting. That investment had no remaining carrying value at December 31, 2019 as a result of cumulative losses recognized and cash distributions received in prior years. Income recognized by M&T is included in other revenues from operations and totaled $37 million in 2019 and $24 million in 2018. Income recognized in 2017 was not significant.

Bayview Financial Holdings, L.P. (together with its affiliates, “Bayview Financial”), a privately-held specialty financial 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 $2.2 billion and $2.5 billion at December 31, 2019 and 2018, respectively. Revenues from those servicing rights were $12 million, $14 million and $17 million during 2019, 2018 and 2017, respectively. The Company sub-services residential mortgage loans for Bayview Financial having outstanding principal balances of $62.8 billion and $56.8 billion at December 31, 2019 and 2018, respectively. Revenues earned for sub-servicing loans for Bayview Financial were $125 million, $114 million and $103 million in 2019, 2018 and 2017, respectively. In addition, the Company held $93 million and $113 million of mortgage-backed securities in its held-to-maturity portfolio at December 31, 2019 and 2018, respectively, that were securitized by Bayview Financial. At December 31, 2019, the Company held $88 million of Bayview Financial’s $702 million syndicated loan facility.