# EDGAR Filing Document

**Accession Number:** 0000028412
**File Stem:** 0000028412-26-000007
**Filing Date:** 2026-1
**Character Count:** 28443
**Document Hash:** 47656a364d26599bb64c90a05d4b9dc3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000028412-26-000007.hdr.sgml**: 20260120

**ACCESSION NUMBER**: 0000028412-26-000007

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260120

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260120

**DATE AS OF CHANGE**: 20260120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COMERICA INC
- **CENTRAL INDEX KEY:** 0000028412
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000006021
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10706
- **FILM NUMBER:** 26541039

**BUSINESS ADDRESS:**
- **STREET 1:** 1717 MAIN STREET MC6404
- **STREET 2:** ATTN: KELLY GAGE
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 833-571-0486

**MAIL ADDRESS:**
- **STREET 1:** 1717 MAIN STREET MC6404
- **STREET 2:** ATTN: KELLY GAGE
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMERICA INC /NEW/
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DETROITBANK CORP
- **DATE OF NAME CHANGE:** 19850311

?xml version='1.0' encoding='ASCII'? cma-20260120

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**---------------**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **January 20, 2026** 

**COMERICA INCORPORATED** 

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **1-10706** | **38-1998421** |
| **------------** | **------------** | **------------** |
| (State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification Number) |

---

**Comerica Bank Tower**

**1717 Main Street, MC 6404** 

**Dallas, Texas 75201** 

--------------------------------------------------------------------

(Address of principal executive offices) (zip code)

**(833) 571-0486** 

------------------------------------------------------------------------

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $5 par value | CMA | New York Stock Exchange |
| Depositary Shares, each representing a 1/40th interest in a share of 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B | CMA PrB | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐

------

**ITEM 2.02&nbsp;&nbsp;&nbsp;&nbsp;RESULTS OF OPERATIONS AND FINANCIAL CONDITION.** 

&nbsp;&nbsp;&nbsp;&nbsp;

Comerica Incorporated ("Comerica") today reported financial results for the quarter and full year ended December 31, 2025, which are furnished herewith as Exhibit 99.1 and incorporated herein by reference.

**ITEM 7.01&nbsp;&nbsp;&nbsp;&nbsp;REGULATION FD DISCLOSURE.** 

Due to the pending merger with Fifth Third Bancorp, management will not conduct an earnings conference call or webcast.

The information in Item 2.02 and Item 7.01 of this report (including Exhibit 99.1) is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

**ITEM 9.01**&nbsp;&nbsp;&nbsp;&nbsp;**FINANCIAL STATEMENTS AND EXHIBITS.**

&nbsp;&nbsp;&nbsp;&nbsp;**(d) Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[99.1 Financial Results for Fourth Quarter and Full-Year 2025](a2025q4pressrelease-ex991.htm)</u>

104 The cover page from Comerica's Current Report on Form 8-K, formatted in Inline XBRL

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**COMERICA INCORPORATED**

---

| | |
|:---|:---|
| By: | /s/ Von E. Hays |
| Name: | Von E. Hays |
| Title: | Senior Executive Vice President and |
|  | Chief Legal Officer |

---

Date: January 20, 2026

## Exhibit 99.1

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)** | **CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)** | **CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)** | **CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)** | | |
| *Comerica Incorporated and Subsidiaries* |  |  |  |  |  |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Years Ended** | **Years Ended** |
|  | **December 31,** | **September 30,** | **December 31,** | **December 31,** | **December 31,** |
| *(in millions, except per share data)* | **2025** | **2025** | **2024** | **2025** | **2024** |
| **NET INCOME, PER COMMON SHARE AND COMMON STOCK DATA** | **NET INCOME, PER COMMON SHARE AND COMMON STOCK DATA** |  |  |  |  |
| Net income | $176 | $176 | $170 | $723 | $698 |
| Net income, excluding merger-related expense (a) | 201 | 176 | 170 | 748 | 698 |
| Diluted earnings per common share | 1.27 | 1.35 | 1.22 | 5.28 | 5.02 |
| Diluted earnings per common share, excluding merger-related expense (a) | 1.46 | 1.35 | 1.22 | 5.47 | 5.02 |
| Cash dividends declared | 0.71 | 0.71 | 0.71 | 2.84 | 2.84 |
| Average diluted shares (in thousands) | 129714 | 129802 | 133361 | 131006 | 133647 |
| **PERFORMANCE RATIOS** |  |  |  |  |  |
| Return on average common shareholders' equity | 9.15% | 10.20% | 10.27% | 10.30% | 11.23% |
| Return on average assets | 0.88 | 0.89 | 0.85 | 0.92 | 0.87 |
| Efficiency ratio (b) | 72.30 | 70.23 | 69.51 | 69.64 | 70.68 |
| **CAPITAL** |  |  |  |  |  |
| Common equity tier 1 capital (a), (c) | $8754 | $8657 | $8667 |  |  |
| Tier 1 capital (a), (c) | 9146 | 9049 | 9061 |  |  |
| Risk-weighted assets (c) | 72841 | 72714 | 72903 |  |  |
| Common equity tier 1 capital ratio (a), (c) | 12.02% | 11.91% | 11.89% |  |  |
| Tier 1 capital ratio (a), (c) | 12.56 | 12.44 | 12.43 |  |  |
| Total capital ratio (c) | 14.25 | 14.13 | 14.21 |  |  |
| Leverage ratio (c) | 11.24 | 11.23 | 11.08 |  |  |
| Common shareholders' equity per share of common stock | $57.16 | $55.15 | $46.79 |  |  |
| Tangible common equity per share of common stock (a) | 52.16 | 50.14 | 41.91 |  |  |
| Common equity ratio | 9.14% | 9.09% | 7.75% |  |  |
| Tangible common equity ratio (a) | 8.40 | 8.34 | 7.00 |  |  |
| **AVERAGE BALANCES** |  |  |  |  |  |
| Commercial loans | $26891 | $26500 | $26198 | $26488 | $26278 |
| Real estate construction loans | 2643 | 2900 | 3765 | 3127 | 4422 |
| Commercial mortgage loans | 15331 | 15283 | 14728 | 15019 | 14260 |
| Lease financing | 780 | 776 | 752 | 755 | 791 |
| International loans | 1124 | 1115 | 988 | 1078 | 1069 |
| Residential mortgage loans | 1968 | 1954 | 1921 | 1948 | 1902 |
| Consumer loans | 2275 | 2227 | 2265 | 2249 | 2257 |
| Total loans | 51012 | 50755 | 50617 | 50664 | 50979 |
| Earning assets | 72401 | 71220 | 72072 | 71091 | 73199 |
| Total assets | 79408 | 78276 | 79234 | 78202 | 80568 |
| Noninterest-bearing deposits | 22484 | 22923 | 24222 | 22995 | 25082 |
| Interest-bearing deposits | 41986 | 39812 | 39125 | 39599 | 38819 |
| Total deposits | 64470 | 62735 | 63347 | 62594 | 63901 |
| Common shareholders' equity | 7167 | 6841 | 6345 | 6754 | 6011 |
| Total shareholders' equity | 7559 | 7058 | 6739 | 7081 | 6405 |
| **NET INTEREST INCOME** |  |  |  |  |  |
| Net interest income | $577 | $574 | $575 | $2301 | $2190 |
| Net interest margin | 3.07 %% | 3.09 %% | 3.06 %% | 3.12 %% | 2.88 %% |
| **CREDIT QUALITY** |  |  |  |  |  |
| Nonperforming assets | $251 | $260 | $308 |  |  |
| Loans past due 90 days or more and still accruing | 11 | 14 | 44 |  |  |
| Net charge-offs | 3 | 32 | 16 | $89 | $52 |
| Allowance for loan losses | 695 | 686 | 690 |  |  |
| Allowance for credit losses on lending-related commitments | 41 | 39 | 35 |  |  |
| Total allowance for credit losses | 736 | 725 | 725 |  |  |
| Allowance for credit losses as a percentage of total loans | 1.45% | 1.43% | 1.44% |  |  |
| Net loan charge-offs as a percentage of average total loans | 0.02 | 0.25 | 0.13 | 0.17% | 0.10% |
| Nonperforming assets as a percentage of total loans and foreclosed property | 0.49 | 0.51 | 0.61 |  |  |
| Allowance for credit losses as a multiple of total nonperforming loans | 3.0x | 2.8x | 2.4x |  |  |
| **OTHER KEY INFORMATION** |  |  |  |  |  |
| Number of banking centers | 352 | 353 | 381 |  |  |
| Number of employees - full time equivalent | 7876 | 7927 | 7766 |  |  |

---

*(a)See Reconciliations of Non-GAAP Financial Measures and Regulatory Ratios.*

*(b)Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding net gains (losses) from securities, a derivative contract tied to the conversion rate of Visa Class B shares and changes in the value of shares obtained through monetization of warrants.*

*(c)December 31, 2025 ratios are estimated.*

------

---

| | | | |
|:---|:---|:---|:---|
| **CONSOLIDATED BALANCE SHEETS** | **CONSOLIDATED BALANCE SHEETS** | **CONSOLIDATED BALANCE SHEETS** | **CONSOLIDATED BALANCE SHEETS** |
| *Comerica Incorporated and Subsidiaries* |  |  |  |
|  | **December 31,** | **September 30,** | **December 31,** |
| *(in millions, except share data)* | **2025** | **2025** | **2024** |
|  | (unaudited) | (unaudited) |  |
| **ASSETS** |  |  |  |
| Cash and due from banks | $866 | $986 | $850 |
| Interest-bearing deposits with banks | 6631 | 4053 | 5954 |
| Other short-term investments | 325 | 325 | 375 |
| Investment securities available-for-sale | 14910 | 14816 | 15045 |
| Commercial loans | 26848 | 26755 | 26492 |
| Real estate construction loans | 2503 | 2849 | 3680 |
| Commercial mortgage loans | 15244 | 15190 | 14493 |
| Lease financing | 755 | 782 | 722 |
| International loans | 1153 | 1116 | 952 |
| Residential mortgage loans | 1950 | 1938 | 1929 |
| Consumer loans | 2300 | 2256 | 2271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 50753 | 50886 | 50539 |
| Allowance for loan losses | (695) | (686) | (690) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans | 50058 | 50200 | 49849 |
| Premises and equipment | 426 | 432 | 473 |
| Accrued income and other assets | 6858 | 6564 | 6751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $80074 | $77376 | $79297 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |  |
| Noninterest-bearing deposits | $22934 | $22581 | $24425 |
| Money market and interest-bearing checking deposits | 35875 | 33839 | 32714 |
| Savings deposits | 1974 | 2014 | 2138 |
| Customer certificates of deposit | 3972 | 3424 | 3450 |
| Other time deposits |  | 707 | 1052 |
| Foreign office time deposits | 117 | 31 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 41938 | 40015 | 39386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 64872 | 62596 | 63811 |
| Accrued expenses and other liabilities | 2071 | 1929 | 2270 |
| Medium- and long-term debt | 5424 | 5422 | 6673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 72367 | 69947 | 72754 |
| Preferred stock - no par value: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Authorized - 10,000,000 shares |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Issued and outstanding - 400,000 shares at 12/31/25 and 9/30/25, 4,000 shares at 12/31/24 | 392 | 392 | 394 |
| Common stock - $5 par value: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Authorized - 325,000,000 shares |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Issued - 228,164,824 shares | 1141 | 1141 | 1141 |
| Capital surplus | 2198 | 2197 | 2218 |
| Accumulated other comprehensive loss | (2079) | (2261) | (3161) |
| Retained earnings | 12338 | 12268 | 12017 |
| Less cost of common stock in treasury - 100,184,086 shares at 12/31/25, 100,575,744 shares at 9/30/25, 96,755,368 shares at 12/31/24 | (6283) | (6308) | (6066) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 7707 | 7429 | 6543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $80074 | $77376 | $79297 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** | **CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** | **CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** | **CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** | **CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME** |
| *Comerica Incorporated and Subsidiaries* |  |  |  |  |
|  | **Three Months Ended** | **Three Months Ended** | **Years Ended** | **Years Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| *(in millions, except per share data)* | **2025** | **2024** | **2025** | **2024** |
|  | (unaudited) | (unaudited) | (unaudited) |  |
| **INTEREST INCOME** |  |  |  |  |
| Interest and fees on loans | $763 | $795 | $3072 | $3204 |
| Interest on investment securities | 105 | 100 | 426 | 402 |
| Interest on short-term investments | 64 | 72 | 235 | 333 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 932 | 967 | 3733 | 3939 |
| **INTEREST EXPENSE** |  |  |  |  |
| Interest on deposits | 279 | 286 | 1067 | 1238 |
| Interest on short-term borrowings |  | 1 | 28 | 48 |
| Interest on medium- and long-term debt | 76 | 105 | 337 | 463 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 355 | 392 | 1432 | 1749 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 577 | 575 | 2301 | 2190 |
| Provision for credit losses | 14 | 21 | 100 | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | 563 | 554 | 2201 | 2141 |
| **NONINTEREST INCOME** |  |  |  |  |
| Card fees | 61 | 62 | 236 | 256 |
| Fiduciary income | 55 | 54 | 215 | 220 |
| Service charges on deposit accounts | 48 | 47 | 188 | 184 |
| Capital markets income | 36 | 36 | 146 | 142 |
| Commercial lending fees | 16 | 18 | 66 | 68 |
| Brokerage fees | 15 | 14 | 57 | 51 |
| Letter of credit fees | 12 | 10 | 43 | 40 |
| Bank-owned life insurance | 11 | 11 | 42 | 44 |
| Risk management hedging income | 1 | 9 | 17 | 8 |
| Net losses on debt securities |  | (19) |  | (19) |
| Other noninterest income | 18 | 8 | 55 | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 273 | 250 | 1065 | 1054 |
| **NONINTEREST EXPENSES** |  |  |  |  |
| Salaries and benefits expense | 365 | 346 | 1444 | 1352 |
| Outside processing fee expense | 68 | 68 | 268 | 273 |
| Software expense | 51 | 46 | 197 | 181 |
| Occupancy expense | 49 | 47 | 189 | 181 |
| Merger-related expense | 32 |  | 32 |  |
| Equipment expense | 13 | 14 | 52 | 52 |
| Advertising expense | 12 | 11 | 41 | 41 |
| FDIC insurance expense | 1 | 10 | 36 | 76 |
| Other noninterest expenses | 26 | 45 | 92 | 151 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | 617 | 587 | 2351 | 2307 |
| Income before income taxes | 219 | 217 | 915 | 888 |
| Provision for income taxes | 43 | 47 | 192 | 190 |
| **NET INCOME** | 176 | 170 | 723 | 698 |
| Less: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income allocated to participating securities | 1 | 1 | 4 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends and other | 11 | 6 | 28 | 23 |
| **Net income attributable to common shares** | $164 | $163 | $691 | $671 |
| Earnings per common share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.28 | $1.23 | $5.33 | $5.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1.27 | 1.22 | 5.28 | 5.02 |
| Comprehensive income (loss) | 358 | (636) | 1805 | 585 |
| Cash dividends declared on common stock | 90 | 93 | 367 | 376 |
| Cash dividends declared per common share | 0.71 | 0.71 | 2.84 | 2.84 |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** | **CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)** |
| *Comerica Incorporated and Subsidiaries* | *Comerica Incorporated and Subsidiaries* |  |  |  |  |  |  |  |  |
|  | **Fourth** | **Third** | **Second** | **First** | **Fourth** | **Fourth Quarter 2025 Compared to:** | **Fourth Quarter 2025 Compared to:** | **Fourth Quarter 2025 Compared to:** | **Fourth Quarter 2025 Compared to:** |
|  | **Quarter** | **Quarter** | **Quarter** | **Quarter** | **Quarter** | **Third Quarter 2025** | **Third Quarter 2025** | **Fourth Quarter 2024** | **Fourth Quarter 2024** |
| *(in millions, except per share data)* | **2025** | **2025** | **2025** | **2025** | **2024** | **Amount** | **Percent** | **Amount** | **Percent** |
| **INTEREST INCOME** |  |  |  |  |  |  |  |  |  |
| Interest and fees on loans | $763 | $779 | $771 | $759 | $795 | $(16) | (2)% | $(32) | (4%) |
| Interest on investment securities | 105 | 105 | 107 | 109 | 100 |  |  | 5 | 5 |
| Interest on short-term investments | 64 | 62 | 53 | 56 | 72 | 2 | 2 | (8) | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 932 | 946 | 931 | 924 | 967 | (14) | (1) | (35) | (4) |
| **INTEREST EXPENSE** |  |  |  |  |  |  |  |  |  |
| Interest on deposits | 279 | 280 | 256 | 252 | 286 | (1) |  | (7) | (2) |
| Interest on short-term borrowings |  | 11 | 15 | 2 | 1 | (11) | (100) | (1) | (96) |
| Interest on medium- and long-term debt | 76 | 81 | 85 | 95 | 105 | (5) | (8) | (29) | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 355 | 372 | 356 | 349 | 392 | (17) | (5) | (37) | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 577 | 574 | 575 | 575 | 575 | 3 | 1 | 2 |  |
| Provision for credit losses | 14 | 22 | 44 | 20 | 21 | (8) | (34) | (7) | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision <br>for credit losses | 563 | 552 | 531 | 555 | 554 | 11 | 2 | 9 | 2 |
| **NONINTEREST INCOME** |  |  |  |  |  |  |  |  |  |
| Card fees | 61 | 57 | 59 | 59 | 62 | 4 | 7 | (1) | (1) |
| Fiduciary income | 55 | 51 | 57 | 52 | 54 | 4 | 6 | 1 | 2 |
| Service charges on deposit accounts | 48 | 47 | 47 | 46 | 47 | 1 |  | 1 | 1 |
| Capital markets income | 36 | 37 | 42 | 31 | 36 | (1) | (2) |  |  |
| Commercial lending fees | 16 | 17 | 17 | 16 | 18 | (1) | (1) | (2) | (4) |
| Brokerage fees | 15 | 14 | 14 | 14 | 14 | 1 | 5 | 1 | 7 |
| Letter of credit fees | 12 | 10 | 10 | 11 | 10 | 2 | 3 | 2 | 6 |
| Bank-owned life insurance | 11 | 13 | 9 | 9 | 11 | (2) | (15) |  |  |
| Risk management hedging income | 1 | 4 | 5 | 7 | 9 | (3) | (47) | (8) | (79) |
| Net losses on debt securities |  |  |  |  | (19) |  |  | 19 | n/m |
| Other noninterest income | 18 | 14 | 14 | 9 | 8 | 4 | 22 | 10 | n/m |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 273 | 264 | 274 | 254 | 250 | 9 | 3 | 23 | 9 |
| **NONINTEREST EXPENSES** |  |  |  |  |  |  |  |  |  |
| Salaries and benefits expense | 365 | 353 | 358 | 368 | 346 | 12 | 3 | 19 | 5 |
| Outside processing fee expense | 68 | 69 | 67 | 64 | 68 | (1) | (2) |  |  |
| Software expense | 51 | 50 | 48 | 48 | 46 | 1 | 2 | 5 | 10 |
| Occupancy expense | 49 | 48 | 46 | 46 | 47 | 1 |  | 2 | 3 |
| Merger-related expense | 32 |  |  |  |  | 32 | n/m | 32 | n/m |
| Equipment expense | 13 | 13 | 13 | 13 | 14 |  |  | (1) | (7) |
| Advertising expense | 12 | 10 | 11 | 8 | 11 | 2 | 6 | 1 | 5 |
| FDIC insurance expense | 1 | 10 | 11 | 14 | 10 | (9) | (91) | (9) | (92) |
| Other noninterest expenses | 26 | 36 | 7 | 23 | 45 | (10) | (27) | (19) | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expenses | 617 | 589 | 561 | 584 | 587 | 28 | 4 | 30 | 5 |
| Income before income taxes | 219 | 227 | 244 | 225 | 217 | (8) | (4) | 2 | 1 |
| Provision for income taxes | 43 | 51 | 45 | 53 | 47 | (8) | (16) | (4) | (9) |
| **NET INCOME** | 176 | 176 | 199 | 172 | 170 |  |  | 6 | 4 |
| Less: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income allocated to participating securities | 1 | 1 | 1 | 1 | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends and other | 11 |  | 11 | 6 | 6 | 11 | n/m | 5 | 90 |
| **Net income attributable to common shares** | $164 | $175 | $187 | $165 | $163 | $(11) | (6%)%) | $1 | 1%% |
| Earnings per common share: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.28 | $1.36 | $1.43 | $1.26 | $1.23 | $(0.08) | (6%) | $0.05 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1.27 | 1.35 | 1.42 | 1.25 | 1.22 | (0.08) | (6) | 0.05 | 4 |
| Comprehensive income (loss) | 358 | 414 | 395 | 638 | (636) | (56) | (13) | 994 | n/m |
| Cash dividends declared on common stock | 90 | 91 | 93 | 93 | 93 | (1) |  | (3) | (2) |
| Cash dividends declared per common share | 0.71 | 0.71 | 0.71 | 0.71 | 0.71 |  |  |  |  |

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*n/m - not meaningful*

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|:---|
| **RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES AND REGULATORY RATIOS (unaudited)** |
| *Comerica Incorporated and Subsidiaries* |

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Comerica believes non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts to evaluate the adequacy of common equity and performance trends, and that net income and diluted earnings per common share, adjusted to exclude merger-related expenses, provide a greater understanding of ongoing operations and financial results.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Fourth** | **Third** | **Fourth** | **Years Ended** | **Years Ended** |
| | **Quarter** | **Quarter** | **Quarter** | **December 31,** | **December 31,** |
| *(dollar amounts in millions, except per share data)* | **2025** | **2025** | **2024** | **2025** | **2024** |
| **Net Income, Excluding Merger-Related Expense:** |  |  |  |  |  |
| Net income | $176 | $176 | $170 | $723 | $698 |
| &nbsp;&nbsp;&nbsp;Merger-related expense (a) | 32 |  |  | 32 |  |
| &nbsp;&nbsp;&nbsp;Income tax impact of merger-related expense | (7) |  |  | (7) |  |
| Net income, excluding merger-related expense | $201 | $176 | $170 | $748 | $698 |
| **Earnings per Common Share, Excluding Merger-Related Expense:** |  |  |  |  |  |
| Net income attributable to common shareholders | $164 | $175 | $163 | $691 | $671 |
| &nbsp;&nbsp;&nbsp;Merger-related expense (a) | 32 |  |  | 32 |  |
| &nbsp;&nbsp;&nbsp;Income tax impact of merger-related expense | (7) |  |  | (7) |  |
| Net income attributable to common shareholders, excluding merger-related expense | $189 | $175 | $163 | $716 | $671 |
| Diluted average common shares (in millions) | 130 | 130 | 133 | 131 | 134 |
| Diluted earnings per common share: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Reported | $1.27 | $1.35 | $1.22 | $5.28 | $5.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;Excluding merger-related expense | 1.46 | 1.35 | 1.22 | 5.47 | 5.02 |

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*(a)Expenses related to the pending merger with Fifth Third Bancorp, which was announced on October 6, 2025. On January 6, 2026, shareholders of Comerica and Fifth Third Bancorp voted separately to approve the proposed merger of the two companies. The transaction is expected to close in the first quarter of 2026, subject to satisfaction of the remaining customary closing conditions.*

Common equity tier 1 capital ratio removes preferred stock from the Tier 1 capital ratio as defined by and calculated in conformity with bank regulations. Tangible common equity is used by Comerica to measure the quality of capital and the return relative to balance sheet risk. The tangible common equity ratio removes the effect of intangible assets from capital and total assets. Tangible common equity per share of common stock removes the effect of intangible assets from common shareholders' equity per share of common stock.

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| | | | |
|:---|:---|:---|:---|
|<br>*(in millions, except share data)* | **December 31,**<br>**2025** | **September 30,**<br>**2025** | **December 31,**<br>**2024** |
| **Common Equity Tier 1 Capital (a):** |  |  |  |
| Tier 1 capital | $9146 | $9049 | $9061 |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed-rate reset non-cumulative perpetual preferred stock | 392 | 392 | 394 |
| Common equity tier 1 capital | $8754 | $8657 | $8667 |
| Risk-weighted assets | $72841 | $72714 | $72903 |
| Tier 1 capital ratio | 12.56% | 12.44% | 12.43% |
| Common equity tier 1 capital ratio | 12.02 | 11.91 | 11.89 |
| **Tangible Common Equity:** |  |  |  |
| Total shareholders' equity | $7707 | $7429 | $6543 |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed-rate reset non-cumulative perpetual preferred stock | 392 | 392 | 394 |
| Common shareholders' equity | $7315 | $7037 | $6149 |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 635 | 635 | 635 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | 4 | 5 | 6 |
| Tangible common equity | $6676 | $6397 | $5508 |
| Total assets | $80074 | $77376 | $79297 |
| Less: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 635 | 635 | 635 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | 4 | 5 | 6 |
| Tangible assets | $79435 | $76736 | $78656 |
| Common equity ratio | 9.14% | 9.09% | 7.75% |
| Tangible common equity ratio | 8.40 | 8.34 | 7.00 |
| **Tangible Common Equity per Share of Common Stock:** |  |  |  |
| Common shareholders' equity | $7315 | $7037 | $6149 |
| Tangible common equity | 6676 | 6397 | 5508 |
| Shares of common stock outstanding (in millions) | 128 | 128 | 131 |
| Common shareholders' equity per share of common stock | $57.16 | $55.15 | $46.79 |
| Tangible common equity per share of common stock | 52.16 | 50.14 | 41.91 |

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*(a)December 31, 2025 ratios are estimated.*

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