Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 106

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 106
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 months ended December 31, 2024, reflecting an increase in federal funds purchased, while medium- and long-term debt decreased $210 million to $6.5 billion, driven by the repayment of $1.0 billion in fixed-rate FHLB advances in March 2025. 

45

Capital

The following table presents a summary of changes in total shareholders' equity for the three months ended March 31, 2025.

(in millions)  Balance at January 1, 2025$6,543 Net income172 Cash dividends declared on common stock(93)Cash dividends declared on preferred stock(6)Purchase of common stock(50)Other comprehensive income, net of tax:Investment securities$254 Cash flow hedges211 Defined benefit and other postretirement plans1 Total other comprehensive income, net of tax466 Net issuance of common stock under employee stock plans(7)Share-based compensation27 Balance at March 31, 2025 $7,052 

The following table summarizes the Corporation's repurchase activity during the three months ended March 31, 2025.

(shares in thousands)Total Number of Shares Purchased as Part of Publicly Announced Repurchase Plans or ProgramsRemaining ShareRepurchaseAuthorization (a)Total Numberof SharesPurchased (b)Average PricePaid Per ShareJanuary 1 - 31, 2025— 13,498 2 $61.75 February 1 - 28, 2025747 12,751 753 65.83 March 1 - 31, 2025— 12,751 — — Total first quarter 2025747 12,751 755 $65.82 

(a)Maximum number of shares of common stock that may be repurchased under the publicly announced plans or programs.

(b)Consists of approximately 8,000 shares of common stock purchased related to deferred compensation plans during the three months ended March 31, 2025 and is not considered part of the Corporation's repurchase program.

 On January 22, 2025, the Corporation announced that it intended to repurchase $50 million of common stock during the first quarter of 2025, and on February 3, 2025, the Corporation entered into an Accelerated Share Repurchase transaction (ASR) to repurchase $50 million shares of common stock