Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 392

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 392
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119)24 %Selected average balances:Loans$10$2$8n/mDeposits 3,4514,506(1,055)(23)

n/m - not meaningful

Average deposits, which primarily consist of centrally-managed brokered time deposits fully insured by the FDIC, decreased $1.1 billion. Net loss for the Finance and Other category increased $119 million to $620 million. Net interest expense increased $88 million to $679 million, reflecting the impact of interest rate swaps (which are centrally managed) as well as increased balances from higher-cost funding sources. Noninterest income increased $14 million to $63 million, primarily due to an increase in risk management hedging income (BSBY cessation), partially offset by a loss related to securities repositioning and a decrease in FHLB stock dividends. Noninterest expenses increased $55 million, reflecting higher salaries and benefits expense and a decrease in gains on the sale of real estate, partially offset by a decrease in non-salary pension expense.

F-12

The following table lists the Corporation's banking centers by geographic market.

December 31202420232022Michigan159176177Texas114116115California889292Other Markets:Arizona121617Florida778Canada111Total Other Markets202426Total381408410

BALANCE SHEET AND CAPITAL FUNDS ANALYSIS

Earning Assets

Period-End Loans

(in millions)PercentChangeDecember 3120242023ChangeCommercial loans$26,492 $27,251 $(759)(3)%Real estate construction loans3,680 5,083 (1,403)(28)Commercial mortgage loans14,493 13,686 807 6 Lease financing722 807 (85)(11)International loans952 1,102 (150)(14)Residential mortgage loans1,929 1,889 40 2 Consumer loans:Home equity1,802 1,792 10 1 Other consumer469 503 (34)(7)Total consumer loans2,271 2,295 (24)(1)Total loans$50,539 $52,113 $(1,574)(3)%

On a period-end basis, total loans decreased $1.6 billion to $50.5 billion at December 31, 2024, compared to $52.1 billion at December 31, 2023. The $1.4 billion decrease