Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 4

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 4
---
 March 31, 2025, respectively.

(b)Nonaccrual loans are included in average balances reported and in the calculation of average rates.

(c)Average balances included $2.6 billion and $2.7 billion of unrealized losses for the three months ended June 30, 2025 and March 31, 2025, respectively; yields calculated gross of these unrealized losses.

(d)Average balances included $4 million and $1 million of unrealized gains for the three months ended June 30, 2025 and March 31, 2025, respectively; yields calculated gross of these unrealized gains.

(e)Average balances excluded $18 million and $2 million of collateral posted and netted against derivative liability positions for the three months ended June 30, 2025 and March 31, 2025, respectively; yields calculated gross of derivative netting amounts.

(f)Average balances excluded $96 million and $70 million of collateral received and netted against derivative asset positions for the three months ended June 30, 2025 and March 31, 2025, respectively; rates calculated gross of derivative netting amounts.

40

Rate/Volume Analysis

Three Months EndedJune 30, 2025/March 31, 2025(in millions)Increase (Decrease) Due to Rate (a)Increase (Decrease) Due to Volume (a)Net Increase (Decrease)Interest income:Loans $4 $8 $12 Investment securities— (2)(2)Interest-bearing deposits with banks1 (4)(3)Total interest income5 2 7 Interest expense:Interest-bearing deposits8 (4)4 Short-term borrowings— 13 13 Medium- and long-term debt(1)(9)(10)Total interest expense7 — 7 Net interest income$(2)$2 $— 

(a)Impact of additional days, other portfolio dynamics and interest rate swaps reflected as part of rate impact; rate/volume variances are allocated to variances due to volume.

Net interest income was $575 million for both the three months ended June 30, 2025 and March 31, 2025, while net interest margin decreased 2 basis points to 3.16% for the same period, primarily due to a $1.2 billion increase in short-term borrowings to fund loan growth (mostly FHLB advances) and the net impact of