Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 191

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 191
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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 and other assets. Salaries and benefits expense was impacted by primarily seasonal items, which included increases in annual stock-based compensation, payroll taxes and 401(k) expense, partially offset by decreases in incentive compensation and staff insurance, as well as an increase in temporary labor.

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Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Three Months Ended March 31,(dollar amounts in millions, except per share data)20252024Net interest income$575 $548 Provision for credit losses20 14 Noninterest income254 236 Noninterest expenses584 603 Income before income taxes225 167 Provision