Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 19

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 19
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 stock purchased related to deferred compensation plans during the three months ended March 31, 2025 and is not considered part of the Corporation's repurchase program.

 On January 22, 2025, the Corporation announced that it intended to repurchase $50 million of common stock during the first quarter of 2025, and on February 3, 2025, the Corporation entered into an Accelerated Share Repurchase transaction (ASR) to repurchase $50 million shares of common stock, which was completed in the first quarter of 2025. A total of 747.3 thousand shares were repurchased under the ASR during the first quarter of 2025.

Since the inception of the share repurchase program in 2010, a total of 107.2 million shares of common stock have been authorized for repurchase. There is no expiration date for the share repurchase program, which may be effectuated through open market repurchases, privately negotiated transactions, structured repurchase agreements with third parties and/or otherwise, including utilizing Rule 10b5-1 plans. The repurchased shares may be held as treasury stock or retired. The timing and actual amount of additional share repurchases are subject to various factors, including the Corporation's earnings generation, capital needs to fund future loan growth and market conditions.

The Corporation has a long-term Common Equity Tier 1 (CET1) capital ratio target of approximately 10 percent with capital deployment. At March 31, 2025, the Corporation's estimated CET1 capital ratio was 12.05 percent, up from 11.89 percent at December 31, 2024.

The following table presents the minimum ratios required.

Common equity tier 1 capital to risk-weighted assets4.5 %Tier 1 capital to risk-weighted assets6.0 Total capital to risk-weighted assets8.0 Capital conservation buffer (a)2.5 Tier 1 capital to adjusted average assets (leverage ratio)4.0 

(a)In addition to the minimum risk-based capital requirements, the Corporation is required to maintain a minimum capital conservation buffer, in the form of common equity, in order to avoid restrictions on capital distributions and discretionary bonuses.

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The Corporation's capital ratios exceeded minimum regulatory requirements as follows:

March 31, 2025December 31, 2024(dollar amounts in millions)Capital/AssetsRatioCapital/AssetsRatioCommon equity tier 1 (a), (b)$8,712