Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 466

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 466
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 Due to the longer-term nature of implied maturities, FTP crediting rates are generally less volatile than changes in interest rates observed in the market. FTP charge rates for funding loans and other assets reflect a matched cost of funds based on the pricing and duration characteristics of the assets. As a result of applying matched funding, interest revenue for each segment resulting from loans and other assets is generally not impacted by changes in interest rates. Therefore, net interest income for each segment primarily reflects the volume of loans and other earning assets at the spread over the matched cost of funds, as well as the volume of deposits at the associated FTP crediting rates. Generally, in periods of rising interest rates, FTP charge rates for funding loans and FTP crediting rates on deposits will increase, with FTP crediting rates for deposits typically repricing at a slower pace than FTP charge rates for funding loans. Conversely, in periods of declining interest rates, FTP charge rates for funding loans and FTP crediting rates on deposits will decrease, with FTP crediting rates for deposits typically repricing at a slower pace than FTP charge rates for funding loans.

The following table presents net income (loss) by business segment. 

(dollar amounts in millions)Years Ended December 31202420232022Commercial Bank$1,070 81 %$1,116 81 %$1,057 85 %Retail Bank168 13 176 13 79 6 Wealth Management80 6 90 6 106 9 1,318 100 %1,382 100 %1,242 100 %Finance(614)(504)(98)Other(6)3 7 Total$698  $881  $1,151 

F-10

The following sections present a summary of the performance of each of the Corporation's business segments for 2024 compared to 2023. 

Commercial Bank

Years Ended December 31,PercentChange(dollar amounts in millions)20242023ChangeEarnings summary:Net interest income$1,869$2,051$(182)(9)%Provision for credit losses4790(43)(48)Noninterest income592603(11)(2)Noninterest expenses1,0491,106(57)(5)Provision for income taxes295342(47)(14)Net income$1,070$1,116$(46)(4)%Net charge-offs$47$20$27n/mSelected average balances:Loans$