Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 117

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 117
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 by an increase in Environmental Services. Average deposits increased $1.2 billion for the same period, which included increases in general Middle Market, Commercial Real Estate and Equity Fund Services, partially offset by a decrease in Technology and Life Sciences. 

The Commercial Bank's net income was $716 million for the nine months ended September 30, 2025, a decrease of $108 million from the nine months ended September 30, 2024. Net interest income decreased $28 million due to lower income on loans, partially offset by lower allocated net FTP charges. The provision for credit losses increased $71 million, while net charge-offs increased $48 million to $80 million, reflecting increases in general Middle Market, Commercial Real Estate, Technology and Life Sciences and Energy. Noninterest income decreased $15 million, primarily due to lower card fees and a $5 million negotiated vendor payment received in the 2024 period. Noninterest expenses increased $17 million, primarily reflecting higher allocated corporate expenses, partially offset by a reduction in FDIC insurance expense (related to special assessment) as well as a net benefit from settlements and dismissed litigation.

49

Retail Bank

Nine Months Ended September 30,PercentChange(dollar amounts in millions)20252024ChangeEarnings summary:Net interest income$739 $609 $130 21 %Provision for credit losses(5)4 (9)n/mNoninterest income80 85 (5)(8)Noninterest expenses519 533 (14)(3)Provision for income taxes73 34 39 n/mNet income$232 $123 $109 89 %Net charge-offs$4 $3 $1 64Selected average balances:Loans $2,404 $2,322 $82 4 %Deposits23,465 24,400 (935)(4)

n/m - not meaningful

Average loans for the nine months ended September 30, 2025 increased $82 million from the nine months ended September 30, 2024, while average deposits decreased $935 million for the same period. The Retail Bank's net income was $232 million for the nine months ended September 30, 2025, an increase of $109 million from the nine months ended September 30, 2024. Net interest income increased $130 million, primarily due to lower interest expense and higher FTP crediting rates on deposits. Noninterest income decreased $5 million, as other noninterest