Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 123

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 123
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 approximately $100 million of common stock during the third quarter of 2025, and on July 22, 2025 and August 5, 2025, the Corporation entered into Accelerated Share Repurchase transactions (ASRs) to repurchase $100 million of common stock and $50 million of common stock, respectively, which were completed in the third quarter of 2025. A total of 2.2 million shares were repurchased under the ASRs during the third quarter of 2025. 

Since the inception of the share repurchase program on November 16, 2010, a total of 107.2 million shares of common stock have been authorized for repurchase. There is no expiration date for the share repurchase program, which may be effectuated through open market repurchases, privately negotiated transactions, structured repurchase agreements with third parties and/or otherwise, including utilizing Rule 10b5-1 plans. The repurchased shares may be held as treasury stock or retired. The timing and actual amount of additional share repurchases are subject to various factors, including the Corporation's earnings generation, capital needs to fund future loan growth and market conditions.

The Corporation has a long-term Common Equity Tier 1 (CET1) capital ratio target of approximately 10% with capital deployment. At September 30, 2025, the Corporation's estimated CET1 capital ratio was 11.90%, relatively stable from 11.89% at December 31, 2024.

The following table presents the minimum ratios required under the Basel III regulatory framework to which the Corporation is subject.

Common equity tier 1 capital to risk-weighted assets4.5  %Tier 1 capital to risk-weighted assets6.0 Total capital to risk-weighted assets8.0 Capital conservation buffer (a)2.5 Tier 1 capital to adjusted average assets (leverage ratio)4.0 

(a)In addition to the minimum risk-based capital requirements, the Corporation is required to maintain a minimum capital conservation buffer, in the form of common equity, in order to avoid restrictions on capital distributions and discretionary bonuses.

The Corporation's capital ratios exceeded minimum regulatory requirements as follows:

September 30, 2025December 31, 2024(dollar amounts in millions)Capital/AssetsRatioCapital/AssetsRatioCommon equity tier 1 (a), (b)$8,657 11.90  %$8,667 11.89  %Tier