Company: CMA
Filing Date: 2025-08-05
Form Type: 424B5
Source: 0001193125-25-173600
Chunk: 22

Company: COMERICA INC
Filing Date: 2025-08-05
Form: 424B5
Chunk 22
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 Series B Preferred Stock and consequently on the depositary shares representing the Series B Preferred Stock.

Our ability to pay dividends on the Series B Preferred Stock, and therefore your ability to receive distributions on the depositary shares, depends upon the results of operations of our subsidiaries.

We are a holding company that conducts substantially all of our operations through our bank and
non-bank subsidiaries. As a result, our ability to make dividend payments on the Series B Preferred Stock will depend primarily upon the receipt of dividends and other distributions from our subsidiaries.
Regulatory and other legal restrictions may limit our ability to transfer funds from our subsidiaries to Comerica. Certain, but not all, of these requirements applicable to our bank subsidiaries are discussed below. No assurances can be given that
Comerica’s bank subsidiaries will, in any circumstances, pay dividends to Comerica.

Comerica Bank and Comerica Bank &
Trust, National Association are required by federal law to obtain the prior approval of the Federal Reserve and/or the Office of the Comptroller of the Currency, as the case may be, for the declaration and payment of dividends, if the total of all
dividends declared by the board of directors of such bank in any calendar year will exceed the total of (i) such bank’s net income (as defined and interpreted by regulation) for that year plus (ii) the retained net income (as defined
and interpreted by regulation) for the preceding two years, less any required transfers to surplus or to fund the retirement of preferred stock.

Comerica’s bank subsidiaries must maintain a common equity tier 1 capital conservation buffer of greater than 2.5% to avoid becoming
subject to restrictions on capital distributions, including dividends.

Furthermore, federal regulatory agencies can prohibit a bank from
paying dividends under circumstances in which such payment could be deemed an unsafe and unsound banking practice. Under the Federal Deposit Insurance Corporation Improvement Act’s “prompt corrective action” regime, which applies to
each of Comerica Bank and Comerica Bank & Trust, National Association, a bank is specifically prohibited from paying dividends

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to its parent company if payment would result in the bank becoming “undercapitalized”. In addition, Comerica Bank is subject to limitations under Texas state law regarding the amount of
earnings that may be paid out as dividends to Comerica, and requires prior approval for payments of dividends that exceed certain levels.

In addition, our right to participate in any distribution of assets from any subsidiary, upon the