Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 113

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 113
---
2024, respectively; yields calculated gross of derivative netting amounts.

(f)Average balances excluded $79 million and $108 million of collateral received and netted against derivative asset positions for the nine months ended September 30, 2025 and 2024, respectively; rates calculated gross of derivative netting amounts.

46

Rate/Volume Analysis

Nine Months EndedSeptember 30, 2025/September 30, 2024(in millions)(Decrease) Increase Due to Rate (a)Decrease (Increase) Due to Volume (a)Net (Decrease) IncreaseInterest income:Loans $(68)$(32)$(100)Investment securities43 (24)19 Interest-bearing deposits with banks(48)(39)(87)Other short-term investments(2)(1)(3)Total interest income(75)(96)(171)Interest expense:Interest-bearing deposits(111)(53)(164)Short-term borrowings(10)(9)(19)Medium- and long-term debt(57)(40)(97)Total interest expense(178)(102)(280)Net interest income$103 $6 $109 

(a)Impact of additional days, other portfolio dynamics and interest rate swaps reflected as part of rate impact; rate/volume variances are allocated to variances due to volume.

Net interest income for the nine months ended September 30, 2025 increased $109 million compared to the nine months ended September 30, 2024, and net interest margin increased 32 basis points for the same period, due to lower rates (including the impact of interest rate swaps and BSBY cessation), a $2.2 billion decline in higher-cost brokered deposits and a $1.2 billion decrease in FHLB advances, partially offset by decreases of $1.2 billion in deposits held with the FRB, $553 million in loans and $1.2 billion in investment securities. For further discussion of the effects of market rates on net interest income, refer to the "Market and Liquidity Risk" section of this financial review.

Provision for Credit Losses

The provision for credit losses increased $58 million to $86 million for the nine months ended September 30, 2025, compared to $28 million for the nine months ended September 30, 2024, reflecting the impact of changes in the Corporation's portfolio composition and a rise in economic uncertainty. Net loan charge-offs were $86 million for the nine months ended September