Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 67

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 67
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-45Report of ManagementF-101Reports of Independent Registered Public Accounting FirmF-102

F-1

PERFORMANCE GRAPH

The graph shown below compares the total shareholder return (assuming reinvestment of dividends) of Comerica's common stock, the S&P 500 Index and the KBW Bank Index. The graph assumes $100 invested in Comerica's common stock (returns based on stock prices per the NYSE) and each of the indices on December 31, 2019 and the reinvestment of all dividends during the periods presented.

201920202021202220232024Comerica Incorporated 1008313410795111KBW Bank Index100901249897133S&P 500 Index100118152125157197

The performance shown on the graph is not necessarily indicative of future performance.

F-2

2024 OVERVIEW 

Comerica Incorporated (the Corporation) is a financial holding company headquartered in Dallas, Texas. The Corporation's major business segments are the Commercial Bank, the Retail Bank and Wealth Management. Information about the activities of the Corporation's business segments is provided in Note 22 to the consolidated financial statements.

As a financial institution, the Corporation's principal activity is lending to and accepting deposits from businesses and individuals. The Corporation's primary source of revenue is net interest income, which is principally derived from the difference between interest earned on loans and investment securities and interest paid on deposits and other funding sources. The Corporation also provides other products and services that meet the financial needs of its customers which generate noninterest income, the Corporation's secondary source of revenue. Growth in loans, deposits and noninterest income is affected by many factors, including economic conditions in the markets the Corporation serves, the financial requirements and economic health of customers and the ability to add new customers and/or increase the number of products used by current customers. Success in providing products and services depends on the financial needs of customers and the types of products desired.

The accounting and reporting policies of the Corporation and its subsidiaries conform to generally accepted accounting principles (GAAP) in the United States (U.S.). The Corporation's consolidated financial statements are prepared based on the application of accounting policies, the most significant of which are described in Note 1 to the consolidated financial statements. When necessary, the Corporation uses reasonable assumptions to develop estimates that affect the consolidated results of operations. The most critical of these estimates are discussed in the “Critical Accounting Estimates” section of this financial review. 

Full-Year 2024 compared to Full-Year 2023 

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