Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 14

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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Compensation deferred by the Corporation's officers and directors is invested based on investment selections of the officers and directors. Income earned on these assets is reported in other noninterest income and the corresponding change in deferred compensation plan liabilities is reported in salaries and benefits expense. 

Noninterest Expenses

Nine Months Ended September 30,(in millions)20252024Salaries and benefits expense$1,079 $1,006 Outside processing fee expense200 205 Software expense146 135 Occupancy expense140 134 Equipment expense39 38 FDIC insurance expense35 66 Advertising expense29 30 Other noninterest expenses66 106 Total noninterest expenses$1,734 $1,720 

Noninterest expenses increased $14 million to $1.7 billion for the nine months ended September 30, 2025, compared to $1.7 billion for the nine months ended September 30, 2024, due to increases in salaries and benefits expense and software expense, partially offset by decreases in FDIC insurance expense (special assessment and changes in balance sheet composition) and consulting fees, as well as an increase in gains on the sale of real estate and other assets. The increase in salaries and benefits expense reflected the impact of annual merit-based salary increases and staff additions, as well as higher severance costs and temporary labor.

STRATEGIC LINES OF BUSINESS

The Corporation has strategically aligned its operations into three major business segments: the Commercial Bank, the Retail Bank and Wealth Management. These business segments are differentiated based on the type of customer and the related products and services provided. In addition to the three major business segments, the Finance and Other categories include items not directly associated with the business segments. The performance of the business segments is not comparable with the Corporation's consolidated results and is not necessarily comparable with similar information for any other financial institution. Additionally, because of the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. Note 15 to the consolidated financial statements describes the business activities of each business segment and presents financial results of the business segments for the three- and nine-month periods ended September 30, 2025 and 2024.

The Corporation's management accounting system assigns balance sheet and income statement items to each segment using certain methodologies, which are regularly reviewed and refined. These methodologies may be modified as the management accounting system is enhanced and changes occur in the Corporation's organizational structure and/or product lines. Note