Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 384

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 384
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 $1.0 billion in medium- and long-term debt.

F-6

The Corporation utilizes various asset and liability management strategies to manage net interest income exposure to interest rate risk. Refer to the “Market and Liquidity Risk” section of this financial review for additional information regarding the Corporation's asset and liability management policies and the “Balance Sheet and Capital Funds Analysis” section for further discussion on changes in earning assets and interest-bearing liabilities.

Provision for Credit Losses

The provision for credit losses decreased $40 million to $49 million, reflecting changes in portfolio composition, lower loan balances and an improved economic outlook. Net loan charge-offs increased $30 million to $52 million, or 0.10 percent of average total loans for the year ended December 31, 2024, compared to $22 million, or 0.04 percent of average total loans for the year ended December 31, 2023, primarily driven by general Middle Market, partially offset by Technology and Life Sciences, Energy and Corporate Banking. The provision for credit losses on lending-related commitments was a benefit of $5 million for the year ended December 31, 2024, compared to a benefit of $11 million for the year ended December 31, 2023.

An analysis of the allowance for credit losses and a summary of nonperforming assets are presented under the "Credit Risk" subheading in the "Risk Management" section of this financial review. For information regarding methodology used in the determination of allowance for credit losses, refer to Note 1 to the consolidated financial statements.

Noninterest Income

(in millions)Years Ended December 31202420232022Card fees$256 $280 $273 Fiduciary income (a)220 235 233 Service charges on deposit accounts184 185 195 Capital markets income142 147 154 Commercial lending fees68 72 68 Brokerage fees (a)51 30 21 Bank-owned life insurance44 46 47 Letter of credit fees40 42 38 Risk management hedging income (loss)8 (42)8 Net losses on debt securities(19)— — Other noninterest income (a), (b)60 83 31 Total noninterest income$1,054 $1,078 $1,068 

(a)Results reflect changes in presentation consistent with contractual terms with an investment program partner beginning in November 2023. Comparative impacts attributable to prior year’s