Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 574

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 574
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 which provides short- and long-term funding to its members through advances collateralized by real estate-related assets. Borrowing capacity is contingent on the amount of collateral available to be pledged to the FHLB. At December 31, 2024, FHLB borrowings were $4.0 billion, with remaining capacity for future borrowing of $13.0 billion, secured by real estate-related loans totaling $22.5 billion and investment securities totaling $6.0 billion. Unamortized debt issuance costs deducted from the carrying amount of medium- and long-term debt totaled $10 million and $6 million at December 31, 2024 and 2023, respectively.At December 31, 2024, the principal maturities of medium- and long-term debt were as follows:(in millions) Years Ending December 31  2025$1,350 20261,400 20271,000 20281,000 2029550 Thereafter1,500 Total$6,800 

NOTE 13 - SHAREHOLDERS’ EQUITY

During the year ended December 31, 2024, the Corporation repurchased 1.5 million shares at an average price paid of $63.50 per share under the share repurchase program initially authorized in 2010 by the Board of Directors of the Corporation. There is no expiration date for the share repurchase program. There were no repurchases of common stock under the share repurchase program in 2023. At December 31, 2024, the Corporation had 4.7 million shares of common stock reserved for stock option exercises and restricted stock unit vesting.In May 2020, the Corporation issued and sold 400,000 depositary shares, each representing a 1/100th ownership interest in a share of 5.625% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, without par value, with a liquidation preference of $100,000 per share (equivalent of 1,000 per depositary share). Holders of the depositary shares will be entitled to all proportional rights and preferences of the Series A preferred stock (including dividend, voting, redemption and liquidation rights). The $400 million issuance yielded $394 million in proceeds, net of underwriting discounts and offering expenses. Dividends on the Series A preferred stock accrue on a non-cumulative basis at an initial fixed rate per annum of 5