Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 137

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 137
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lookRatingMoody’s Investors ServiceBaa2Baa2StableA2Fitch Ratings A-A-NegativeAStandard and Poor’sBBBBBB+Stablenot rated

Deposit Concentrations and Uninsured Deposits

The Corporation's uninsured deposits are well-diversified between geographies, industries and customers. At June 30, 2025, the Retail Bank and general Middle Market segments, both highly diversified and granular, accounted for 39% and 29% of the total deposit base, respectively. Corporate Banking and Technology and Life Sciences comprised 6% and 4% of total deposits, respectively, which were the largest deposit concentrations of the more specialized business lines. 

Uninsured deposits are defined as the portion of deposit accounts in U.S. offices that exceed the FDIC insurance limit and amounts in any other uninsured investment or deposit account that are classified as deposits and are not subject to any federal or state deposit insurance regimes.

June 30, 2025December 31, 2024(Dollar amount in millions)AmountPercentage of total depositsAmountPercentage of total depositsTotal uninsured deposits, as calculated per regulatory guidelines$32,251 54 %$33,387 52 %Less: affiliate deposits(3,993)(3,876)Total uninsured deposits, excluding affiliate deposits$28,258 47 %$29,511 46 %

Time deposits otherwise uninsured, which consist of foreign office time deposits, totaled $16 million at June 30, 2025 and all mature in three months or less. Collateralized deposits, consisting of trust deposits as well as deposits of public entities and state and local government agencies, totaled $433 million at June 30, 2025, compared to $348 million at December 31, 2024.

62

Direct Express Debit MasterCard Program

In July 2024, the Bank received preliminary notification that, following the contract expiration on January 2, 2025, it was not selected to continue serving as financial agent supporting the Direct Express Program; however, the Treasury elected to extend the contract term for up to three years past January 2, 2025 to facilitate an orderly transition. While the length of the transition is currently unknown, the Corporation believes it may take some time given the scale and complexity of the program as well as its own transition experience.

For the three months ended June 30, 2025, average deposits related to the Direct Express program were $3.