Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 101

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 101
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 rates. Generally, in periods of rising interest rates, FTP charge rates for funding loans and FTP crediting rates on deposits will increase, with FTP crediting rates for deposits typically repricing at a slower pace than FTP charge rates for funding loans. Conversely, in periods of declining interest rates, FTP charge rates for funding loans and FTP crediting rates on deposits will decrease, with FTP crediting rates for deposits typically repricing at a slower pace than FTP charge rates for funding loans. 

Business Segments

The following sections present a summary of the performance of each of the Corporation's business segments for the three months ended March 31, 2025 compared to the same period in the prior year.

Commercial Bank

Three Months Ended March 31,PercentChange(dollar amounts in millions)20252024ChangeEarnings summary:Net interest income$472 $477 $(5)(1) %Provision for credit losses31 16 15 97 Noninterest income135 148 (13)(8)Noninterest expenses 267 275 (8)(3)Provision for income taxes71 56 15 27 Net income$238 $278 $(40)(14) %Net charge-offs$26 $14 $12 89 Selected average balances:Loans $42,850 $43,911 $(1,061)(2) %Deposits 32,750 32,212 538 2 

Average loans for the three months ended March 31, 2025 decreased $1.1 billion from the three months ended March 31, 2024, which included decreases in National Dealer Services, Corporate Banking, Equity Fund Services and general Middle Market, partially offset by an increase in Environmental Services. Average deposits increased $538 million for the same period, which included increases in Commercial Real Estate, Equity Fund Services and general Middle Market, partially offset by a decrease in Technology and Life Sciences. 

The Commercial Bank's net income was $238 million for the three months ended March 31, 2025, a decrease of $40 million from the three months ended March 31, 2024. Net interest income decreased $5 million due to lower income on loans, partially offset by lower allocated net FTP charges. The provision for credit losses increased $15 million, reflecting increases in Commercial Real Estate and Business Banking, partially offset by a decrease in Corporate Banking. Net charge-offs increased $12 million to $26 million, driven by