Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 102

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 102
---
 Commercial Real Estate, Entertainment and Corporate Banking, partially offset by an improvement in general Middle Market. Noninterest income decreased $13 million, primarily due to lower card fees and capital markets income, as well as a $5 million negotiated vendor payment received in the 2024 period. Noninterest expenses decreased $8 million, primarily reflecting decreases in outside processing fee expense and FDIC insurance expense (related to special assessment), as well as an increase in gains on the sale of real estate and other assets, partially offset by higher allocated corporate expenses.

42

Retail Bank

Three Months Ended March 31,PercentChange(dollar amounts in millions)20252024ChangeEarnings summary:Net interest income$254 $200 $54 27 %Provision for credit losses(5)(1)(4)n/mNoninterest income26 28 (2)(10)Noninterest expenses180 182 (2)(1)Provision for income taxes26 8 18 n/mNet income$79 $39 $40 99 %Selected average balances:Loans $2,380 $2,297 $83 4 %Deposits23,638 24,384 (746)(3)

n/m - not meaningful

Average loans for the three months ended March 31, 2025 increased $83 million from the three months ended March 31, 2024, while average deposits decreased $746 million for the same period. The Retail Bank's net income was $79 million for the three months ended March 31, 2025, an increase of $40 million from the three months ended March 31, 2024. Net interest income increased $54 million, primarily due to lower interest expense and higher FTP crediting rates on deposits. Noninterest income and noninterest expenses were relatively stable.

Wealth Management

Three Months Ended March 31,PercentChange(dollar amounts in millions)20252024ChangeEarnings summary:Net interest income$48 $47 $1 3 %Provision for credit losses(6)1 (7)n/mNoninterest income71 65 6 9 Noninterest expenses97 96 1 — Provision for income taxes7 2 5 n/mNet income$21 $13 $8 75 %Selected average balances:Loans $4,984 $5,152 $(168)(3)%Deposits3,620 3