Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 11

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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)Impact of additional days, other portfolio dynamics and interest rate swaps reflected as part of rate impact; rate/volume variances are allocated to variances due to volume.

Net interest income for the six months ended June 30, 2025 increased $69 million compared to the six months ended June 30, 2024, and net interest margin increased 34 basis points for the same period, due to lower rates (including the impact of BSBY cessation), a $2.1 billion decline in higher-cost brokered deposits and a $1.7 billion decrease in FHLB advances, partially offset by decreases of $1.5 billion in deposits held with the FRB, $780 million in loans and $1.1 billion in investment securities. For further discussion of the effects of market rates on net interest income, refer to the "Market and Liquidity Risk" section of this financial review.

Provision for Credit Losses

The provision for credit losses increased $50 million to $64 million for the six months ended June 30, 2025, compared to $14 million for the six months ended June 30, 2024, reflecting the impact of changes in the Corporation's portfolio composition and a rise in economic uncertainty. Net loan charge-offs were $54 million for the six months ended June 30, 2025, an increase of $29 million compared to $25 million for the six months ended June 30, 2024, reflecting increases in Commercial Real Estate and general Middle Market net charge-offs, as well as a reduction in Energy net recoveries. An analysis of the allowance for credit losses and nonperforming assets is presented under the "Credit Risk" subheading in the "Risk Management" section of this financial review.

Noninterest Income

Six Months Ended June 30,(in millions)20252024Card fees$118 $130 Fiduciary income109 109 Service charges on deposit accounts93 91 Capital markets income73 67 Commercial lending fees33 33 Brokerage fees 28 24 Letter of credit fees21 20 Bank-owned life insurance18 21 Risk management hedging income (loss)12 (8)Other noninterest income (a)23 40 Total noninterest income$528 $527 

(a)The table below provides further details on certain categories included in other noninterest income.

45

Noninterest income remained relatively stable at $528 million for the six months ended June