Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 97

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 97
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386 471 3.90 Noninterest-bearing deposits23,480 26,408 Accrued expenses and other liabilities2,222 2,746 Shareholders’ equity6,761 6,077 Total liabilities and shareholders’ equity$77,558 $83,617 Net interest income/rate spread$575 1.99 $548 1.30 Impact of net noninterest-bearing sources of funds 1.19 1.50 Net interest margin (as a percentage of average earning assets)  3.18 %  2.80 %

(a)Interest income on commercial loans included net expense from cash flow swaps of $78 million and $170 million for the three months ended March 31, 2025 and 2024, respectively.

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

(c)Average balances included $2.7 billion and $2.9 billion of unrealized losses for the three months ended March 31, 2025 and 2024, respectively; yields calculated gross of these unrealized losses.

(d)Average balances included $1 million of unrealized gains and $71 million of unrealized losses for the three months ended March 31, 2025 and 2024, respectively; yields calculated gross of these unrealized gains and losses.

(e)Average balances excluded $2 million and included $2 million of collateral posted and netted against derivative liability positions for the three months ended March 31, 2025 and 2024, respectively; yields calculated gross of derivative netting amounts.

(f)Average balances excluded $70 million and $130 million of collateral received and netted against derivative asset positions for the three months ended March 31, 2025 and 2024, respectively; rates calculated gross of derivative netting amounts.

39

Rate/Volume Analysis

Three Months EndedMarch 31, 2025/March 31, 2024(in millions)(Decrease) Increase Due to Rate (a)Decrease Due to Volume (a)Net (Decrease) IncreaseInterest income:Loans $(28)$(21)$(49)Investment securities16 (9)7 Interest-bearing deposits with banks(20)(32)(52)Other short-term investments(1)— (1)Total interest income(33)(62)(95)Interest expense:Interest-bearing deposits(39)(