Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 387

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 387
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Other noninterest income$60 $83 $31 

(a)    Compensation deferred by the Corporation's officers and directors is invested based on investment selections of such officers and directors. Income earned on these assets is reported in noninterest income and the offsetting change in deferred compensation plan liabilities is reported in salaries and benefits expense. 

(b)    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 presentation included decreases in securities trading income and insurance commissions, with a corresponding increase in brokerage fees.

Noninterest Expenses 

(in millions)Years Ended December 31202420232022Salaries and benefits expense (a)$1,352 $1,306 $1,208 Outside processing fee expense273 277 251 Occupancy expense181 171 175 Software expense181 171 161 FDIC insurance expense76 180 31 Equipment expense52 50 50 Advertising expense41 40 38 Other noninterest expenses (a)151 164 84 Total noninterest expenses$2,307 $2,359 $1,998 

(a)Results reflect above-described changes in presentation consistent with contractual terms with Ameriprise beginning in November 2023. Comparative impacts attributable to prior year’s presentation included decreases of $21 million in salaries and benefits expense (commission expenses) and $1 million in outside processing expense, with a corresponding increase in brokerage fees.

Noninterest expenses decreased $52 million to $2.3 billion, due to decreases in FDIC insurance expense and other noninterest expenses, partially offset by increases in salaries and benefits expense, software expense and occupancy expense.

F-8

FDIC insurance expense decreased $104 million, or 58 percent, reflecting a decline of $96 million in a special assessment approved by the FDIC Board of Directors in November 2023 to recover the loss to the Deposit Insurance Fund following the failures of Silicon Valley Bank and Signature Bank. Additionally, risk-based assessment fees declined $8 million, reflecting changes in balance sheet composition.

Other noninterest expenses decreased $13 million, or 8 percent, including decreases in non-salary pension expense and litigation-related expenses, partially offset by a decline in gains on the sale of real estate.

Salaries and benefits expense increased $46 million, or 4 percent, reflecting increases from annual merit increases and staff additions, performance-based compensation and staff insurance, partially offset by a decline in