Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 218

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 218
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. Subject to certain adjustments pursuant to the ASR, the final number of shares repurchased and delivered under the ASR will be based on the volume weighted average share price of Comerica’s common stock during the term of the transaction, which is expected to be completed in the third quarter of 2025.

Since the inception of the share repurchase program on November 16, 2010, a total of 107.2 million shares of common stock have been authorized for repurchase. There is no expiration date for the share repurchase program, which may be effectuated through open market repurchases, privately negotiated transactions, structured repurchase agreements with third parties and/or otherwise, including utilizing Rule 10b5-1 plans. The repurchased shares may be held as treasury stock or retired. The timing and actual amount of additional share repurchases are subject to various factors, including the Corporation's earnings generation, capital needs to fund future loan growth and market conditions.

The Corporation has a long-term Common Equity Tier 1 (CET1) capital ratio target of approximately 10% with capital deployment. At June 30, 2025, the Corporation's estimated CET1 capital ratio was 11.94%, up from 11.89% at December 31, 2024.

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The following table presents the minimum ratios required under the Basel III regulatory framework to which the Corporation is subject.

Common equity tier 1 capital to risk-weighted assets4.5  %Tier 1 capital to risk-weighted assets6.0 Total capital to risk-weighted assets8.0 Capital conservation buffer (a)2.5 Tier 1 capital to adjusted average assets (leverage ratio)4.0 

(a)In addition to the minimum risk-based capital requirements, the Corporation is required to maintain a minimum capital conservation buffer, in the form of common equity, in order to avoid restrictions on capital distributions and discretionary bonuses.

The Corporation's capital ratios exceeded minimum regulatory requirements as follows:

June 30, 2025December 31, 2024(dollar amounts in millions)Capital/AssetsRatioCapital/AssetsRatioCommon equity tier 1 (a), (b)$8,718 11.94  %$8,667 11.89  %Tier 1 risk-based (a), (b)8,718 11.94 9,061 12.43 Total risk-based (a) 10,030 13.74