Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 104

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 104
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 of 2026. For further discussion of the Merger, refer to Note 17 to the consolidated financial statements. 

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RESULTS OF OPERATIONS

In accordance with Item 303(c) of Regulation S-K, the Corporation is providing a comparison of the quarter ended September 30, 2025 against the preceding sequential quarter. The Corporation believes providing a sequential discussion of its results of operations provides more relevant information for investors and stakeholders to understand and analyze the business. Balance sheet items are discussed in terms of average balances unless otherwise noted.

Three Months Ended September 30, 2025 Compared to Three Months Ended June 30, 2025

Three Months Ended(dollar amounts in millions, except per share data)September 30, 2025June 30, 2025Net interest income$574 $575 Provision for credit losses22 44 Noninterest income264 274 Noninterest expenses589 561 Income before income taxes227 244 Provision for income taxes51 45 Net income $176 $199 Diluted earnings per common share$1.35 $1.42 

Net income for the three months ended September 30, 2025 was $176 million, a decrease of $23 million compared to $199 million for the three months ended June 30, 2025, driven by an increase in noninterest expenses and a decrease in noninterest income, partially offset by a decrease in provision for credit losses. Net income per diluted common share for the three months ended September 30, 2025 was $1.35 compared to net income per diluted common share of $1.42 for the three months ended June 30, 2025, a decrease of $0.07 per diluted common share. 

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Analysis of Net Interest Income

Three Months EndedSeptember 30, 2025June 30, 2025(dollar amounts in millions)AverageBalanceInterestAverageRateAverageBalanceInterestAverageRateCommercial loans (a)$26,500 $377 5.63 %$26,441 $372 5.65 %Real estate construction loans2,900 55 7.60 3,499 66 7.51 Commercial mortgage loans15,283 256 6.64 14,722 243 6.63 Lease financing776 11 5.87 737 11 5.82 International loans1,115 18