Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 19

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 19
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-term borrowings for the three months ended June 30, 2025 increased $1.3 billion compared to the three months ended December 31, 2024, reflecting increases in FHLB advances and Fed Funds while medium- and long-term debt decreased $958 million to $5.7 billion, driven by the repayment of long-term FHLB advances in March 2025. 

50

Capital

The following table presents a summary of changes in total shareholders' equity for the six months ended June 30, 2025.

(in millions)  Balance at January 1, 2025$6,543 Net income371 Cash dividends declared on common stock(186)Cash dividends declared on preferred stock(11)Purchase of common stock(151)Redemption of preferred stock(400)Other comprehensive income, net of tax:Investment securities$330 Cash flow hedges329 Defined benefit and other postretirement plans3 Total other comprehensive income, net of tax662 Net issuance of common stock under employee stock plans(3)Share-based compensation35 Balance at June 30, 2025 $6,860 

On June 10, 2025, the Corporation delivered a notice of redemption notifying the holders of Series A Preferred Stock and corresponding depositary shares that the Corporation would be redeeming all 4,000 outstanding shares of Series A Preferred Stock and the corresponding depositary shares at a redemption price of $1,000 per depositary share (equivalent to $100,000 per share of Series A Preferred Stock), effective July 1, 2025. Accordingly, $400 million was reclassified from shareholders' equity to other liabilities in the Consolidated Balance Sheets as of the date of the notice of redemption. Refer to Note 9 to the consolidated financial statements for further discussion of the preferred stock redemption. 

The following table summarizes the Corporation's repurchase activity during the six months ended June 30, 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 ShareTotal first quarter 2025747 12,751 755 $65.82 April 1 - 30, 2025— 12,751 2 58.49 May 1 - 31