Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 189

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 189
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31, 2024, respectively; yields calculated gross of these unrealized losses.

(d)Average balances included $1 million of unrealized gains and $22 million of unrealized losses for the three months ended March 31, 2025 and December 31, 2024, respectively; yields calculated gross of these unrealized gains and losses.

(e)Average balances excluded $2 million and $10 million of collateral posted and netted against derivative liability positions for the three months ended March 31, 2025 and December 31, 2024, respectively; yields calculated gross of derivative netting amounts.

(f)Average balances excluded $70 million and $76 million of collateral received and netted against derivative asset positions for the three months ended March 31, 2025 and December 31, 2024, respectively; rates calculated gross of derivative netting amounts.

35

Rate/Volume Analysis

Three Months EndedMarch 31, 2025/December 31, 2024(in millions)(Decrease) Increase Due to Rate (a)(Decrease) Increase Due to Volume (a)Net (Decrease) IncreaseInterest income:Loans $(29)$(7)$(36)Investment securities11 (2)9 Interest-bearing deposits with banks(6)(9)(15)Other short-term investments— (1)(1)Total interest income(24)(19)(43)Interest expense:Interest-bearing deposits(26)(8)(34)Short-term borrowings— 1 1 Medium- and long-term debt(8)(2)(10)Total interest expense(34)(9)(43)Net interest income$10 $(10)$— 

(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 was $575 million for both the three months ended March 31, 2025 and December 31, 2024, while net interest margin increased 12 basis points to 3.18 percent for the same period, due to the net impact of lower rates and a decline in interest-bearing deposits, partially offset by an $894 million decrease in deposits held with the Federal Reserve Bank (FRB), lower nonaccrual interest and a $403 million decline in loans. Net interest income was also impacted by two fewer days in the first quarter. 

For further discussion of the effects of market rates on net interest income