Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 104

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 104
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.8 billion, or 48 percent of total commercial real estate loans, at December 31, 2024, a decrease of $701 million compared to December 31, 2023. These loans consisted primarily of owner-occupied commercial mortgages, which bear credit characteristics similar to non-commercial real estate business loans. Generally, loans previously reported as real estate construction are classified as commercial mortgage loans upon receipt of a certificate of occupancy.

The real estate construction loan portfolio primarily contains loans made to long-tenured customers with satisfactory completion experience. Criticized real estate construction loans in the Commercial Real Estate business line totaled $36 million at December 31, 2024 compared to $86 million at December 31, 2023. In other business lines, criticized real estate construction loans totaled $2 million at December 31, 2024, compared to $12 million at December 31, 2023. There were no real estate construction loan net charge-offs in the years ended December 31, 2024 and 2023.

Commercial mortgage loans are loans where the primary collateral is a lien on any real property and are primarily loans secured by owner-occupied real estate. Real property is generally considered primary collateral if the value of that collateral represents more than 50 percent of the commitment at loan approval. Loans in the commercial mortgage portfolio generally mature within three to five years. Criticized commercial mortgage loans in the Commercial Real Estate business line totaled $379 million and $378 million at December 31, 2024 and 2023, respectively. In other business lines, $694 million and $395 million of commercial mortgage loans were criticized at December 31, 2024 and 2023, respectively, with the increase primarily in senior housing properties, largely maintained in the Corporate Banking line of business. Senior housing loans totaled $658 million at December 31, 2024, of which 57% were criticized, compared to $796 million at December 31, 2023, of which 11% were criticized. Commercial mortgage loan net charge-offs were $13 million in 2024, compared to net recoveries of $1 million in 2023.

Automotive Lending - Dealer:

The following table presents a summary of dealer loans.

December 31, 2024December 31, 2023(in millions)LoansOutstandingPercent ofTotal LoansLoansOutstandingPercent ofTotal LoansDealer:Floor plan$2,279