Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 224

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 224
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 2025, the three major rating agencies had assigned the following ratings to long-term senior unsecured obligations of the Corporation and the Bank, as well as long-term deposits at the Bank. A security rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating.

Debt RatingsDeposit RatingsComerica IncorporatedComerica BankComerica BankMarch 31, 2025RatingRatingOutlookRatingMoody’s Investors ServiceBaa2Baa2StableA2Fitch Ratings A-A-NegativeAStandard and Poor’sBBBBBB+Stablenot rated

Deposit Concentrations and Uninsured Deposits

The Corporation's uninsured deposits are well-diversified between geographies, industries and customers. At March 31, 2025, the Retail Bank and general Middle Market segments, both highly diversified and granular, accounted for 39 percent and 28 percent of the total deposit base, respectively. Corporate Banking and Technology and Life Sciences comprised 6 percent and 4 percent each of total deposits, respectively, which were the largest deposit concentrations of the more specialized business lines. 

Uninsured deposits are defined as the portion of deposit accounts in U.S. offices that exceed the FDIC insurance limit and amounts in any other uninsured investment or deposit account that are classified as deposits and are not subject to any federal or state deposit insurance regimes.

March 31, 2025December 31, 2024(Dollar amount in millions)AmountPercentage of total depositsAmountPercentage of total depositsTotal uninsured deposits, as calculated per regulatory guidelines$32,291 53 %$33,387 52 %Less: affiliate deposits(3,844)(3,876)Total uninsured deposits, excluding affiliate deposits$28,447 46 %$29,511 46 %

Time deposits otherwise uninsured, which consist of foreign office time deposits, totaled $26 million at March 31, 2025 and all mature in three months or less. Collateralized deposits, consisting of trust deposits as well as deposits of public entities and state and local government agencies, totaled $285 million at March 31, 2025, compared to $348 million at December 31, 2024.

Direct Express Debit MasterCard Program

In July 2024, the Bank received preliminary notification that, following the contract expiration