Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 94

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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 accounts46 47 Capital markets income 31 36 Commercial lending fees 16 18 Brokerage fees14 14 Letter of credit fees11 10 Bank-owned life insurance9 11 Risk management hedging income7 9 Net losses on debt securities— (19)Other noninterest income (a)9 8 Total noninterest income$254 $250 

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

Noninterest income increased $4 million to $254 million for the three months ended March 31, 2025, compared to $250 million for the three months ended December 31, 2024, which included the impact of a $19 million loss related to repositioning the Corporation's securities portfolio in the fourth quarter of 2024, partially offset by decreases in capital markets income and card fees, as well as smaller decreases in other categories. Other noninterest income is detailed in the table below.

Three Months Ended(in millions)March 31, 2025December 31, 2024FHLB and FRB stock dividends$3 $4 Deferred compensation asset returns (a)(2)— All other noninterest income8 4 Other noninterest income$9 $8 

(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(in millions)March 31, 2025December 31, 2024Salaries and benefits expense$368 $346 Outside processing fee expense64 68 Software expense48 46 Occupancy expense46 47 FDIC insurance expense14 10 Equipment expense13 14 Advertising expense8 11 Other noninterest expenses 23 45 Total noninterest expenses$584 $587 

Noninterest expenses decreased $3 million to $584 million for the three months ended March 31, 2025, compared to $587 million for the three months ended December 31, 2024, primarily due to decreases in litigation-related expenses, charitable contributions, consulting expenses, outside processing fee expense and advertising expense, partially offset by increases in salaries and benefits expense and FDIC insurance expense, as well as a reduction in gains on the sale of real estate