Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 75

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 75
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 benefit of $5 million for the year ended December 31, 2024, compared to a benefit of $11 million for the year ended December 31, 2023.

An analysis of the allowance for credit losses and a summary of nonperforming assets are presented under the "Credit Risk" subheading in the "Risk Management" section of this financial review. For information regarding methodology used in the determination of allowance for credit losses, refer to Note 1 to the consolidated financial statements.

Noninterest Income

(in millions)Years Ended December 31202420232022Card fees$256 $280 $273 Fiduciary income (a)220 235 233 Service charges on deposit accounts184 185 195 Capital markets income142 147 154 Commercial lending fees68 72 68 Brokerage fees (a)51 30 21 Bank-owned life insurance44 46 47 Letter of credit fees40 42 38 Risk management hedging income (loss)8 (42)8 Net losses on debt securities(19)— — Other noninterest income (a), (b)60 83 31 Total noninterest income$1,054 $1,078 $1,068 

(a)Results reflect changes in presentation consistent with contractual terms with an investment program partner beginning in November 2023. Comparative impacts attributable to prior year’s presentation included an increase of $22 million in brokerage fees, with corresponding reductions of $24 million in other noninterest income, $21 million in salaries and benefits expense (commission expenses), $20 million in fiduciary income and $1 million in outside processing expense.

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

Noninterest income decreased $24 million to $1.1 billion, which included a $19 million loss related to repositioning $827 million of the Corporation's securities portfolio, as well as decreases in card fees, other noninterest income, capital markets income and commercial lending fees, partially offset by an increase in risk management hedging income and smaller increases in other categories.

Card fees consist primarily of interchange and other fee income earned on government prepaid card, commercial card, debit/Automated Teller Machine (ATM) card and merchant payment processing services. Card fees decreased $24 million, or 9 percent, reflecting lower government card interchange income, a decline in commercial card sales volume and ATM network bonuses received in the