Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 198

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 198
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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 Commercial Real Estate, Entertainment and Corporate Banking, partially offset by an improvement in general Middle Market. Noninterest income decreased $13 million, primarily due to lower card fees and capital markets income, as well as a $5 million negotiated vendor payment received in the 2024 period. Noninterest expenses decreased $8 million, primarily reflecting decreases in outside processing fee expense and FDIC insurance expense (related to special assessment), as well as an increase in gains on the sale of real estate and other assets, partially offset by higher allocated corporate expenses.

42

Retail Bank

Three Months Ended March 31,PercentChange(dollar amounts in millions)20252024ChangeEarnings summary:Net interest income$254