Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 99

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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 Total noninterest income$254 $236 

(a)The table below provides further details on certain categories included in other noninterest income.

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Noninterest income increased $18 million to $254 million for the three months ended March 31, 2025, compared to $236 million for the three months ended March 31, 2024, driven by an increase in risk management hedging income, which included the impact of $39 million of losses related to BSBY cessation in the first quarter of 2024, partially offset by lower price alignment income received for centrally-cleared derivative positions. An increase in brokerage fees for the three months ended March 31, 2025, compared to the three months ended March 31, 2024, was offset by declines in card fees (mostly related to government card interchange fees) and other noninterest income, as other noninterest income for the 2024 period included a $5 million negotiated vendor payment.

The following table presents certain categories included in other noninterest income on the Consolidated Statements of Comprehensive Income.

Three Months Ended March 31,(in millions)20252024FHLB and FRB stock dividends$3 $5 Deferred compensation asset returns (a)(2)6 All other noninterest income8 12 Other noninterest income$9 $23     

(a)Compensation deferred by the Corporation's officers and directors is invested based on investment selections of the officers and directors. Income earned on these assets is reported in other noninterest income and the corresponding change in deferred compensation plan liabilities is reported in salaries and benefits expense. 

Noninterest Expenses

Three Months Ended March 31,(in millions)20252024Salaries and benefits expense$368 $348 Outside processing fee expense64 68 Software expense48 44 Occupancy expense46 44 FDIC insurance expense14 36 Equipment expense13 12 Advertising expense8 8 Other noninterest expenses23 43 Total noninterest expenses$584 $603 

Noninterest expenses decreased $19 million to $584 million for the three months ended March 31, 2025, compared to $603 million for the three months ended March 31, 2024, due to decreases in FDIC insurance expense (special assessment and changes in balance sheet composition), consulting fees and operational losses, as well as an increase in gains on the sale of real estate and other assets, partially offset by increases in salaries and benefits