Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 80

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 80
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, with FTP crediting rates for deposits typically repricing at a slower pace than FTP charge rates for funding loans. Conversely, in periods of declining interest rates, FTP charge rates for funding loans and FTP crediting rates on deposits will decrease, with FTP crediting rates for deposits typically repricing at a slower pace than FTP charge rates for funding loans.

The following table presents net income (loss) by business segment. 

(dollar amounts in millions)Years Ended December 31202420232022Commercial Bank$1,070 81 %$1,116 81 %$1,057 85 %Retail Bank168 13 176 13 79 6 Wealth Management80 6 90 6 106 9 1,318 100 %1,382 100 %1,242 100 %Finance(614)(504)(98)Other(6)3 7 Total$698  $881  $1,151 

F-10

The following sections present a summary of the performance of each of the Corporation's business segments for 2024 compared to 2023. 

Commercial Bank

Years Ended December 31,PercentChange(dollar amounts in millions)20242023ChangeEarnings summary:Net interest income$1,869$2,051$(182)(9)%Provision for credit losses4790(43)(48)Noninterest income592603(11)(2)Noninterest expenses1,0491,106(57)(5)Provision for income taxes295342(47)(14)Net income$1,070$1,116$(46)(4)%Net charge-offs$47$20$27n/mSelected average balances:Loans$43,584$46,432$(2,848)(6)%Deposits 32,26433,019(755)(2)

n/m - not meaningful

Average loans decreased $2.8 billion, as decreases in Equity Fund Services, general Middle Market, Mortgage Banker Finance (reflecting a strategic exit) and Corporate Banking were partially offset by an increase in Commercial Real Estate. Average deposits decreased $755 million, which included decreases in Technology and Life Sciences, Mortgage Banker Finance (reflecting a strategic exit), Energy and National Dealer Services, partially offset by increases in general Middle Market and Corporate Banking.

The Commercial Bank's net income decreased $46 million to $1.1 billion. Net interest income decreased $182 million due to higher