Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 43

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 43
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 and Comerica Bank to Watch Positive.

Deposit Concentrations and Uninsured Deposits

The Corporation's uninsured deposits are well-diversified between geographies, industries and customers. At September 30, 2025, the Retail Bank and general Middle Market segments, both highly diversified and granular, accounted for 37% and 30% of the total deposit base, respectively. Corporate Banking and Technology and Life Sciences comprised 7% and 4% of total deposits, respectively, which were the largest deposit concentrations of the more specialized business lines. 

Uninsured deposits are defined as the portion of deposit accounts in U.S. offices that exceed the FDIC insurance limit and amounts in any other uninsured investment or deposit account that are classified as deposits and are not subject to any federal or state deposit insurance regimes.

September 30, 2025December 31, 2024(Dollar amount in millions)AmountPercentage of total depositsAmountPercentage of total depositsTotal uninsured deposits, as calculated per regulatory guidelines$34,857 56 %$33,387 52 %Less: affiliate deposits(4,061)(3,876)Total uninsured deposits, excluding affiliate deposits$30,796 49 %$29,511 46 %

Time deposits otherwise uninsured, which consist of foreign office time deposits, totaled $31 million at September 30, 2025 and all mature in three months or less. Collateralized deposits, consisting of trust deposits as well as deposits of public entities and state and local government agencies, totaled $382 million at September 30, 2025, compared to $348 million at December 31, 2024.

Direct Express Debit MasterCard Program

In July 2024, the Bank received preliminary notification that, following the contract expiration on January 2, 2025, it was not selected to continue serving as financial agent supporting the Direct Express Program; however, the Treasury elected to extend the contract term for up to three years past January 2, 2025 to facilitate an orderly transition. While the length of the 

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transition is currently unknown, the Corporation believes it may take some time given the scale and complexity of the program as well as its own transition experience.

For the three months ended September 30, 2025, average deposits related to the Direct Express program were $3.7 billion, all of which were noninterest-bearing. Card fee income related to the Direct Express program was $26 million for the three months