Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 202

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 202
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 offset by an increase of $146 million in short-term borrowings. The following table provides information about the change in the Corporation's average deposits and borrowed funds by type:

Three Months EndedPercentChange(dollar amounts in millions)March 31, 2025December 31, 2024ChangeNoninterest-bearing deposits$23,480 $24,222 $(742)(3)%Money market and interest-bearing checking deposits31,912 32,045 (133)— Savings deposits2,140 2,142 (2)— Customer certificates of deposit3,282 3,542 (260)(7)Other time deposits1,052 1,371 (319)(23)Foreign office time deposits33 25 8 32 Total deposits$61,899 $63,347 $(1,448)(2)%Short-term borrowings188 42 146 n/mMedium- and long-term debt6,488 6,698 (210)(3)Total borrowed funds$6,676 $6,740 $(64)(1)%

n/m - not meaningful

Other time deposits, which consisted of brokered deposits, decreased $319 million from the three months ended December 31, 2024 , while decreases of $326 million in Retail Banking, $313 million in general Middle Market, $262 million in Wealth Management, $245 million in Technology and Life Sciences, $144 million in Corporate Banking and $128 million in Business Banking, as well as smaller increases in other business lines, were partially offset by increases of $117 million in Equity Fund Services and $104 million in Entertainment. 

Short-term borrowings increased $146 million to $188 million for the three months ended March 31, 2025, compared to the three months ended December 31, 2024, reflecting an increase in federal funds purchased, while medium- and long-term debt decreased $210 million to $6.5 billion, driven by the repayment of $1.0 billion in fixed-rate FHLB advances in March 2025. 

45

Capital

The following table presents a summary of changes in total shareholders' equity for the three months ended March 31, 2025.

(in millions)  Balance at January 1, 2025$6,543 Net income172 Cash dividends declared on common stock(93)Cash dividends declared on preferred stock(6)Purchase of common stock(50)Other