Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 427

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 427
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 and external debt as additional sources of funding, and maintains a shelf registration statement with the Securities and Exchange Commission through which it may issue securities. The ability of the Corporation and the Bank to raise unsecured funding at competitive rates is impacted by rating agencies' views of the credit quality, liquidity, capital, earnings and other relevant factors related to the Corporation and the Bank. As of December 31, 2024, 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 

F-32

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 BankDecember 31, 2024RatingRatingOutlookRatingMoody’s Investors Service (a)Baa1Baa1Negative A1Fitch RatingsA-A-NegativeAStandard and Poor’sBBBBBB+Stablenot rated

(a)In January 2025, Moody's Investors Service (Moody's) downgraded the Corporation and Bank's debt ratings by one notch to Baa2 from Baa1, changed the Corporation and Bank's outlooks to Stable and downgraded the Bank's deposit rating to A2. 

Deposit Concentrations and Uninsured Deposits

The Corporation's uninsured deposits are well-diversified between geographies, industries and customers. At December 31, 2024, the Retail Bank and general Middle Market segments, both highly diversified and granular, accounted for 37% and 30% of the total deposit base, respectively. Corporate Banking and Technology and Life Sciences comprised 7% and 5% 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.

December 31, 2024December 31, 2023(Dollar amount in millions)AmountPercentage of total depositsAmountPercentage of total depositsTotal uninsured deposits, as calculated per regulatory guidelines$33,387 52 %$31,485 47