Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 199

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 199
---
$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 3,900 (280)(7)

n/m - not meaningful

Average loans for the three months ended March 31, 2025 decreased $168 million from the three months ended March 31, 2024, while average deposits decreased $280 million for the same period. Wealth Management's net income was $21 million for the three months ended March 31, 2025, an increase of $8 million from the three months ended March 31, 2024. Net interest income and noninterest expenses were relatively stable, while noninterest income increased $6 million, primarily driven by higher investment fees.

43

Finance & Other

Three Months Ended March 31,PercentChange(dollar