Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 192

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 192
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 for income taxes53 29 Net income $172 $138 Diluted earnings per common share$1.25 $0.98 

Net income increased $34 million to $172 million for the three months ended March 31, 2025, compared to $138 million for the three months ended March 31, 2024, driven by an increase in net interest income, a decline in noninterest expenses and higher noninterest income (which included the impact of $39 million of losses related to BSBY cessation in the first quarter of 2024). The increase in net interest income was primarily due to the net impact of lower rates (including the impact of BSBY cessation), as well as declines in FHLB advances and brokered deposits, partially offset by decreases in deposits held with the FRB, loans and investment securities. Net income per diluted common share increased $0.27 to $1.25 for the three months ended March 31, 2025, compared to $0.98 for the three months ended March 31, 2024.

38

Analysis of Net Interest Income

Three Months EndedMarch 31, 2025March 31, 2024(dollar amounts in millions)AverageBalanceInterestAverageRateAverageBalanceInterestAverageRateCommercial loans (a)$26,112 $368 5.72 %$26,451 $348 5.30 %Real estate construction loans3,479 64 7.47 5,174 108 8.37 Commercial mortgage loans14,731 240 6.60 13,642 253 7.46 Lease financing727 10 5.69 810 12 6.11 International loans1,004 16 6.67 1,141 22 7.80 Residential mortgage loans1,920 20 4.09 1,882 18 3.74 Consumer loans2,241 41 7.37 2,272 47 8.32 Total loans (b)50,214 759 6.13 51,372 808 6.33 Mortgage-backed securities (c)13,702 95 2.33 14,782 101 2.28 U.S. Treasury securities (d)1,281 14 4.21 1,546 1 0.28 Total