Company: CMA
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000028412-25-000235
Chunk: 220

Company: COMERICA INC
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 220
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 expense13 13 FDIC insurance expense10 11 Advertising expense10 11 Other noninterest expenses 36 7 Total noninterest expenses$589 $561 

Noninterest expenses increased $28 million to $589 million for the three months ended September 30, 2025, compared to $561 million for the three months ended June 30, 2025, primarily due to an increase in other noninterest expenses, partially offset by a decrease in salaries and benefits expense, reflecting the net impact of cumulative adjustments to incentive compensation based on expected performance. Other noninterest expenses included a $13 million increase in litigation-related expenses (primarily from settlements and dismissed litigation recorded in the prior quarter), an $8 million increase in operational losses, a $4 million increase in consulting expenses and a $3 million increase from an interest recovery on a state tax matter recorded in the prior quarter. 

Provision for Income Taxes

 Provision for income taxes increased $6 million to $51 million for the three months ended September 30, 2025, compared to $45 million for the three months ended June 30, 2025. Favorable discrete items for the three months ended September 30, 2025 decreased by $9 million, as provision for income taxes for the three months ended June 30, 2025 included a benefit that resulted from changes in the combined state income tax rate applicable to deferred tax assets relating to California legislation impacting apportionment for financial institutions.

On July 4, 2025, H.R. 1, The One Big Beautiful Bill Act, was signed into law. The Corporation has completed its initial evaluation of the provisions of the bill and does not expect it to have a material impact on its financial statements.

Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024

Nine Months Ended September 30,(dollar amounts in millions, except per share data)20252024Net interest income$1,724 $1,615 Provision for credit losses86 28 Noninterest income792 804 Noninterest expenses1,734 1,720 Income before income taxes696 671 Provision for income taxes149 143 Net income $547 $528 Diluted earnings per common share$4.01 $3.80 

Net income increased $19 million to $547 million for the nine months ended September 30, 2025, compared to $