Ken Uston's questions to Comerica Inc (CMA) leadership • Q1 2025
Question
Ken Uston inquired about the remaining capacity to reduce deposit costs and run off brokered CDs. He also asked for an update on the Direct Express contract and whether the bank would preemptively manage its deposit mix.
Answer
CFO James Herzog detailed the success in deposit pricing, noting a 71% beta through Q1 and plans to run off the remaining $1 billion in brokered CDs by year-end. Chief Banking Officer Peter Sefzik confirmed no change to the Direct Express outlook for 2025, stating the transition is long-term and the bank remains focused on broad-based deposit gathering.