Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 25

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 25
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 below 620 on a secured basis (excluding loans with cash or near-cash collateral and adequate income to make payments) and below 660 for unsecured loans. Residential mortgage loans retained in the portfolio are largely relationship based. The remaining loans are typically eligible to be sold on the secondary market. Adjustable-rate loans are limited to standard conventional loan programs. For additional information specific to our residential real estate loan portfolio, please see the caption “Residential Real Estate Lending” in the Financial Section of this report.

HUMAN CAPITAL RESOURCES

Comerica’s relationship banking strategy relies heavily on the personal relationships and the quality of service provided by employees. Accordingly, Comerica aims to attract, develop and retain employees who can drive financial and strategic growth objectives and build long-term shareholder value. Key items related to Comerica’s human capital resources are described below.

Structure. As of December 31, 2024, Comerica and its subsidiaries had 7,565 full-time and 363 part-time employees, mainly located in Comerica’s primary markets of Michigan, Texas, California, Arizona, Florida and North Carolina. Comerica’s Chief Administrative Officer and Chief Human Resources Officer reports directly to the Chairman, President and CEO and manages all aspects of the employee experience, including talent acquisition, colleague engagement, learning and development, talent management, compensation and benefits. 

The Governance, Compensation and Nominating Committee of the Board reviews Comerica’s human capital management strategy which encompasses talent development programs, succession planning, recruitment evaluations and other workforce updates. This Committee also reviews Comerica’s colleague engagement programs. To enhance the Board’s understanding of Comerica's talent pipeline, the Board routinely meets with high-potential employees in formal and informal settings.

Productivity. Comerica carefully manages the size of its workforce and reallocates resources as needed. Comerica managed an average of $15 million and $16 million of loans and deposits per employee as of December 31, 2024 and 2023, respectively. 

Comerica has 15 Employee Resource Groups (ERGs), consisting of employees with common interests organized to promote professional development, social networking, awareness and inclusion, social impact and talent attraction and retention. These ERGs help support and sustain Comerica's colleague engagement model. 

Compensation and Benefits.  Comerica strives to provide pay, benefits and programs that are competitive, cost effective and help meet the varying needs of its employees. Compensation and benefits include market-competitive pay, broad