Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 88

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 88
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6,381)(88)Medium- and long-term debt6,882 5,847 1,035 18 Total borrowed funds$7,719 $13,065 $(5,346)n/m

n/m - not meaningful

(in millions)PercentChangeYears Ended December 31,20242023ChangeAverage Deposits By Business Line:General Middle Market$17,259 $16,962 $297 2 %Technology and Life Sciences3,001 3,607 (606)(17)Equity Fund Services904 976 (72)(7)National Dealer Services864 1,022 (158)(15)Environmental Services381 361 20 5 Energy364 574 (210)(37)Entertainment345 268 77 29 Total Middle Market23,118 23,770 (652)(3)Corporate Banking4,067 3,788 279 7 Business Banking3,511 3,569 (58)(2)Commercial Real Estate1,550 1,582 (32)(2)Mortgage Banker Finance18 310 (292)(94)Total Commercial Bank 32,264 33,019 (755)(2)Total Retail Bank 24,292 24,363 (71)— Total Wealth Management 3,894 4,130 (236)(6)Total Finance and Other3,451 4,506 (1,055)(23)Total deposits$63,901 $66,018 $(2,117)(3)%

Average deposits decreased $2.1 billion to $63.9 billion in 2024, compared to $66.0 billion in 2023, reflecting a $5.8 billion decrease in noninterest-bearing deposits, partially offset by a $3.7 billion increase in interest-bearing deposits. The decline in noninterest-bearing deposits mostly reflected customer responsiveness to a higher rate environment, while the increase in interest-bearing deposits was primarily due to increases in money market and interest-bearing checking deposits and customer certificates of deposit, partially offset by a decline in brokered time deposits. 

Average short-term borrowings decreased by $6.4 billion to $837 million in 2024, compared to $7.2 billion in 2023, driven by a decline in short-term FHLB advances. Average medium- and long-term debt increased $1.0 billion to $6