The following table summarizes the Company's short-term and long-term borrowings at March 31, 2026 and December 31, 2025. | | | | | | | | | | | | | (Dollars in millions) | March 31, 2026 | | December 31, 2025 | | Short-term borrowings | | | | | Repurchase agreements | $ | 51 | | | $ | 49 | | | Advances from FHLB | 7,800 | | | 2,100 | | | Total short-term borrowings | $ | 7,851 | | | $ | 2,149 | | | | | | | Long-term borrowings | | | | | Senior notes — M&T | $ | 5,550 | | | $ | 5,583 | | | Senior notes — M&T Bank | 1,946 | | | 1,946 | | | Advances from FHLB | 3 | | | 3 | | | Subordinated notes — M&T | 747 | | | 747 | | | Subordinated notes — M&T Bank | 489 | | | 489 | | | Junior subordinated debentures — M&T (a) | 403 | | | 403 | | | Asset-backed notes (a) | 2,027 | | | 1,730 | | | Other | 10 | | | 10 | | | Total long-term borrowings | $ | 11,175 | | | $ | 10,911 | |
__________________________________________________________________________________ (a) Further information about Junior Subordinated Debentures and asset-backed note financing transactions is provided in note 11. Information about the asset-backed notes issued to investors and the respective special purpose trust at March 31, 2026 and December 31, 2025 are included in the following table. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in millions) | | | | March 31, 2026 | | December 31, 2025 | | Issue Date | | Collateral Type | | Remaining Loan Collateral Balance | | Asset-Backed Notes to Investors | | Weighted-Average Life (In years) | | Weighted-Average Rate | | Remaining Loan Collateral Balance | | Asset-Backed Notes to Investors | | August 2023 | | Equipment finance loans and leases | | $ | 209 | | | $ | 109 | | | 0.5 | | 5.74 | % | | $ | 244 | | | $ | 141 | | | March 2024 | | Automobile loans | | 223 | | | 211 | | | 1.1 | | 5.20 | | | 252 | | 239 | | August 2024 | | Equipment finance loans and leases | | 432 | | | 355 | | | 1.3 | | 4.84 | | | 483 | | 396 | | February 2025 | | Automobile loans | | 476 | | | 460 | | | 1.3 | | 4.68 | | | 529 | | | 513 | | | May 2025 | | Equipment finance loans and leases | | 501 | | | 406 | | | 1.6 | | 4.76 | | | 546 | | | 441 | | | February 2026 | | Recreational finance loans | | 544 | | | 486 | | | 4.6 | | 4.35 | | | — | | | — | | | | | | | | | $ | 2,027 | | | | | | | | | $ | 1,730 | |
|