Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 492

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 492
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 $848 million at December 31, 2023. These borrowers have faced, and could face in the future, financial difficulties due to disruptions in auto production, issues with supply chains and logistics operations and impacts resulting from labor union strikes. As such, management continues to monitor this portfolio. 

 There were no nonaccrual loans to borrowers involved with automotive production at December 31, 2024, compared to $17 million at December 31, 2023. Automotive production loan net recoveries totaled $1 million for the year ended December 31, 2024, compared to net charge-offs of $7 million for the year ended December 31, 2023.

For further information regarding significant group concentrations of credit risk, refer to Note 5 to the consolidated financial statements.

Residential Real Estate Lending

At December 31, 2024, residential real estate loans represented 7 percent of total loans. The following table summarizes the Corporation's residential mortgage and home equity loan portfolios by geographic market.

December 31, 2024December 31, 2023(dollar amounts in millions)ResidentialMortgage LoansPercent  ofTotalHomeEquity LoansPercent ofTotalResidentialMortgage LoansPercent ofTotalHomeEquity LoansPercent ofTotalGeographic market:Michigan$576 30 %$420 23 %$548 29 %$444 25 %California889 46 931 52 871 46 911 51 Texas273 14 365 20 272 14 351 20 Other Markets191 10 86 5 198 11 86 4 Total$1,929 100 %$1,802 100 %$1,889 100 %$1,792 100 %

Residential real estate loans, which consist of traditional residential mortgages and home equity loans and lines of credit, totaled $3.7 billion at December 31, 2024. The residential real estate portfolio is principally located within the Corporation's primary geographic markets. Substantially all residential real estate loans past due 90 days or more are placed on nonaccrual status, and substantially all junior lien home equity loans that are current or less than 90 days past due are placed on nonaccrual status if full collection of the senior position is in doubt. At no later than 180 days past due, such loans are charged off to