Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 111

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 111
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30, 2024. Net interest income decreased $17 million due to lower income on loans, partially offset by lower allocated net FTP charges. The provision for credit losses increased $63 million, reflecting increases in Commercial Real Estate and general Middle Market, partially offset by a decrease in Corporate Banking. Net charge-offs increased $29 million to $51 million, driven by Commercial Real Estate, Energy and general Middle Market. Noninterest income decreased $9 million, primarily due to lower card fees and a $5 million negotiated vendor payment received in the 2024 period, partially offset by an increase in capital markets income. Noninterest expenses decreased $6 million, primarily reflecting a reduction in FDIC insurance expense (related to special assessment) as well as a net benefit from settlements and dismissed litigation, partially offset by higher allocated corporate expenses. 

47

Retail Bank

Six Months Ended June 30,PercentChange(dollar amounts in millions)20252024ChangeEarnings summary:Net interest income$499 $404 $95 24 %Provision for credit losses(7)— (7)n/mNoninterest income52 61 (9)(18)Noninterest expenses347 358 (11)(3)Provision for income taxes50 22 28 n/mNet income$161 $85 $76 91 %Net charge-offs$3 $2 $1 47 Selected average balances:Loans $2,394 $2,309 $85 4 %Deposits23,539 24,487 (948)(4)

n/m - not meaningful

Average loans for the six months ended June 30, 2025 increased $85 million from the six months ended June 30, 2024, while average deposits decreased $948 million for the same period. The Retail Bank's net income was $161 million for the six months ended June 30, 2025, an increase of $76 million from the six months ended June 30, 2024. Net interest income increased $95 million, primarily due to lower interest expense and higher FTP crediting rates on deposits. Noninterest income decreased $9 million, as other noninterest income for the 2025 period included a $4 million loss on the Visa derivative, while other noninterest income for the 2024 period included a $6 million gain on the Visa derivative. Noninterest expenses decreased $11 million, primarily driven by lower FDIC insurance expense (related to special