Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Amounts and Interest Rates of Short-term Borrowings

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

	Federal Funds Purchased and Repurchase Agreements			Other Short-term Borrowings			Total
	(Dollars in thousands)
At December 31, 2020
Amount outstanding	$	59,482		$	—		$	59,482
Weighted-average interest rate		0.01	%		—			0.01	%
For the year ended December 31, 2020
Highest amount at a month-end	$	82,893		$	—
Daily-average amount outstanding		61,551			—		$	61,551
Weighted-average interest rate		0.05	%		—			0.05	%
At December 31, 2019
Amount outstanding	$	62,363		$	—		$	62,363
Weighted-average interest rate		0.14	%		—			0.14	%
For the year ended December 31, 2019
Highest amount at a month-end	$	3,402,566		$	5,000,000
Daily-average amount outstanding		260,322			799,068		$	1,059,390
Weighted-average interest rate		1.86	%		2.49	%		2.34	%
At December 31, 2018
Amount outstanding	$	198,378		$	4,200,000		$	4,398,378
Weighted-average interest rate		1.68	%		2.63	%		2.58	%
For the year ended December 31, 2018
Highest amount at a month-end	$	2,654,416		$	4,200,000
Daily-average amount outstanding		261,200			69,465		$	330,665
Weighted-average interest rate		1.49	%		2.16	%		1.63	%

Lines of Credit Under Formal Agreements

At December 31, 2020, M&T Bank had lines of credit under formal agreements as follows:

	(In thousands)
Outstanding borrowings	$	1,727
Unused		32,010,950

Long-term Borrowings

Long-term borrowings were as follows:

	December 31,
	2020		2019
	(In thousands)
Senior notes of M&T:
Variable rate due 2023	$	249,824	$	249,756
3.55% due 2023		533,369		520,454
Senior notes of M&T Bank:
Variable rate due 2021		349,992		349,893
Variable rate due 2022		249,858		249,758
2.05% due 2020		—		749,254
2.10% due 2020		—		749,864
2.625% due 2021		—		654,136
2.50% due 2022		664,400		652,714
2.90% due 2025		749,656		749,572
Advances from FHLB:
Fixed rates		1,683		1,815
Agreements to repurchase securities		—		101,679
Subordinated notes of M&T Bank:
Variable rate due 2020		—		409,361
Variable rate due 2021		500,000		500,000
3.40% due 2027		552,194		514,353
Junior subordinated debentures of M&T associated with    preferred capital securities:
Fixed rates:
BSB Capital Trust I — 8.125%, due 2028		15,752		15,728
Provident Trust I — 8.29%, due 2028		29,099		28,235
Southern Financial Statutory Trust I — 10.60%, due 2030		6,836		6,770
Variable rates:
First Maryland Capital I — due 2027		148,409		147,871
First Maryland Capital II — due 2027		150,606		149,943
Allfirst Asset Trust — due 2029		97,075		96,930
BSB Capital Trust III — due 2033		15,464		15,464
Provident Statutory Trust III — due 2033		56,641		55,867
Southern Financial Capital Trust III — due 2033		8,338		8,236
Other		2,997		8,533
	$	4,382,193	$	6,986,186

Maturity of Long-term Borrowings

Long-term borrowings at December 31, 2020 mature as follows:

	(In thousands)
Year ending December 31:
2021	$	849,976
2022		917,270
2023		783,193
2024		—
2025		749,656
Later years		1,082,098
	$	4,382,193