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Comerica Incorporated (CMA) is a financial services company that provides a wide range of banking and financial solutions to businesses, individuals, and institutional clients. The company specializes in commercial banking, retail banking, and wealth management, offering products such as loans, deposit accounts, investment services, and financial planning. Comerica also manages its securities portfolio and financial risks through its Finance Division.
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Commercial Bank - Serves small and middle-market businesses, multinational corporations, and governmental entities by offering commercial loans, lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services.
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Retail Bank - Provides personal financial services, including consumer lending, deposit gathering, and mortgage loan origination. Offers deposit accounts, installment loans, credit cards, home equity lines of credit, residential mortgage loans, and services for small businesses through dedicated business bankers and branch networks.
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Wealth Management - Caters to affluent, high-net-worth, and ultra-high-net-worth individuals, families, business owners, executives, and institutional clients. Provides fiduciary services, private banking, retirement services, investment management and advisory, brokerage, and business transition planning.
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Finance Division - Manages the corporation's securities portfolio, funding, liquidity, and capital needs. Conducts interest sensitivity analysis and manages exposure to liquidity, interest rate, and foreign exchange risks.
| Revenue by Segment - in Millions of USD | FY 2013 | Q1 2014 | Q2 2014 | Q3 2014 | FY 2014 | Q1 2015 | Q2 2015 | Q3 2015 | FY 2015 | Q1 2016 | Q2 2016 | Q3 2016 | FY 2016 | Q1 2017 | Q2 2017 | Q3 2017 | FY 2017 | Q1 2018 | Q2 2018 | Q3 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial Bank | 684 | 654 | 655 | 661 | 2654 | 625 | 611 | 613 | ||||||||||||||||||||||||||||||||||||||
| - Net Interest Income | -123 | -140 | -187 | -141 | -591 | -217 | -183 | -220 | ||||||||||||||||||||||||||||||||||||||
| - Noninterest Income | 23 | 33 | 40 | -47 | 49 | -11 | 34 | 26 | ||||||||||||||||||||||||||||||||||||||
| Retail Bank | 250 | 243 | 239 | 233 | 965 | 228 | 236 | 229 | ||||||||||||||||||||||||||||||||||||||
| Wealth Management | 131 | 134 | 127 | 123 | 515 | 112 | 126 | 119 | ||||||||||||||||||||||||||||||||||||||
| Finance & Other | -100 | -107 | -147 | -188 | -542 | -228 | -149 | -194 | ||||||||||||||||||||||||||||||||||||||
| Total Revenue | 965 | 924 | 874 | 829 | 3592 | 784 | 824 | 811 | ||||||||||||||||||||||||||||||||||||||
| KPIs - Metric (Unit, Scale) | FY 2013 | Q1 2014 | Q2 2014 | Q3 2014 | FY 2014 | Q1 2015 | Q2 2015 | Q3 2015 | FY 2015 | Q1 2016 | Q2 2016 | Q3 2016 | FY 2016 | Q1 2017 | Q2 2017 | Q3 2017 | FY 2017 | Q1 2018 | Q2 2018 | Q3 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 |
| Percentage of total loans that are higher-risk commercial and industrial (HR C&I) (percentage) | 6 | 6 | 6 | - | 5 | 6 | 6 | 5 | ||||||||||||||||||||||||||||||||||||||
| Number of borrowers with a balance greater than 2 million transferred to nonaccrual status (count) | 3 | 4 | 3 | - | 16 | 6 | 5 | 5 | ||||||||||||||||||||||||||||||||||||||
| Number of banking centers in Michigan (count) | 177 | 177 | 176 | - | 176 | 176 | 159 | 159 | ||||||||||||||||||||||||||||||||||||||
| Number of banking centers in Texas (count) | 115 | 115 | 115 | - | 116 | 116 | 114 | 113 | ||||||||||||||||||||||||||||||||||||||
| Number of banking centers in California (count) | 92 | 92 | 92 | - | 92 | 92 | 88 | 88 | ||||||||||||||||||||||||||||||||||||||
| Number of banking centers in Other Markets (count) | 26 | 25 | 25 | - | 24 | 24 | 20 | 20 | ||||||||||||||||||||||||||||||||||||||
| Total number of banking centers (count) | 410 | 409 | 408 | - | 408 | 408 | 381 | 380 | ||||||||||||||||||||||||||||||||||||||
| Number of nonaccrual loan borrowers under 2 million (count) | 469 | 459 | 446 | - | 457 | 428 | 448 | 469 | ||||||||||||||||||||||||||||||||||||||
| Number of nonaccrual loan borrowers 2 million - 5 million (count) | 14 | 12 | 10 | - | 11 | 13 | 9 | 13 | ||||||||||||||||||||||||||||||||||||||
| Number of nonaccrual loan borrowers 5 million - 10 million (count) | 8 | 8 | 6 | - | 5 | 4 | 5 | 4 | ||||||||||||||||||||||||||||||||||||||
| Number of nonaccrual loan borrowers 10 million - 25 million (count) | 4 | 3 | 2 | - | 4 | 3 | 6 | 6 | ||||||||||||||||||||||||||||||||||||||
| Total number of nonaccrual loan borrowers (count) | 495 | 482 | 464 | - | 477 | 450 | 468 | 492 |
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Curtis C. Farmer ExecutiveBoard | Chairman, President, and CEO | None mentioned | Curtis C. Farmer leads Comerica as Chairman, President, and CEO. No additional external roles are listed. | View Report → |
Corey R. Bailey Executive | EVP, Head of Middle Market and Business Banking | None mentioned | Corey R. Bailey leads Comerica's Middle Market and Business Banking operations. | |
J. McGregor Carr Executive | EVP, Wealth Management | None mentioned | J. McGregor Carr leads Comerica's Wealth Management division, focusing on financial services for high-net-worth clients. | |
James J. Herzog Executive | Senior EVP and CFO | None mentioned | James J. Herzog oversees Comerica's financial operations as CFO. No external roles are listed. | |
Mauricio A. Ortiz Executive | EVP, Chief Accounting Officer, and Controller | None mentioned | Mauricio A. Ortiz serves as Comerica's Chief Accounting Officer and Controller, overseeing accounting and financial reporting. | |
Megan D. Burkhart Executive | Senior EVP, Chief Administrative Officer, and Chief HR Officer | None mentioned | Megan D. Burkhart leads Comerica's administrative and HR functions, focusing on talent development and governance. | |
Megan D. Crespi Executive | Senior EVP and COO | None mentioned | Megan D. Crespi oversees operations, technology, and digital transformation at Comerica. | |
Melinda A. Chausse Executive | Senior EVP and Chief Credit Officer | None mentioned | Melinda A. Chausse oversees Comerica's credit operations and risk management. | |
Wendy W. Bridges Executive | EVP, Corporate Responsibility | None mentioned | Wendy W. Bridges oversees Comerica's corporate responsibility initiatives, including community engagement and sustainability. | |
Arthur G. Angulo Board | Director | Managing Director at Promontory Financial Group (IBM Consulting) | Arthur G. Angulo brings regulatory and risk management expertise from his career at the Federal Reserve Bank of New York and Promontory Financial Group. | |
Barbara R. Smith Board | Director | Executive Chairman of Commercial Metals Company | Barbara R. Smith is a financial expert and former CEO of Commercial Metals Company, bringing leadership and operational expertise to Comerica's Board. | |
Derek J. Kerr Board | Director | Board Member at AECOM Group, Inc. | Derek J. Kerr is a financial expert with extensive experience as CFO of American Airlines Group and serves on Comerica's Audit Committee. | |
Jennifer H. Sampson Board | Director | President and CEO of United Way of Metropolitan Dallas | Jennifer H. Sampson is a non-profit leader with expertise in community engagement and financial oversight, serving as CEO of United Way of Metropolitan Dallas. | |
M. Alan Gardner Board | Director | EVP and Chief People Officer at Frontier Communications Parent, Inc.; Board Member at WorldatWork, A Call to Men, and UNT Engineering Dean’s Board of Councilors | M. Alan Gardner brings over 30 years of HR leadership experience, currently serving as EVP and Chief People Officer at Frontier Communications. | |
Michael G. Van de Ven Board | Director | Executive Advisor at Southwest Airlines Co. | Michael G. Van de Ven is a CPA and former COO of Southwest Airlines, bringing operational and financial expertise to Comerica's Board. | |
Nancy Avila Board | Director | None mentioned | Nancy Avila brings 25 years of technology expertise and recently retired as EVP and Chief Information and Technology Officer at McKesson Corporation. | |
Nina G. Vaca Board | Director | Chairman and CEO of Pinnacle Technical Resources, Inc.; Director at Cinemark Holdings, Inc. | Nina G. Vaca is an entrepreneur and business leader, serving as CEO of Pinnacle Technical Resources and a director at Cinemark Holdings. | |
Reginald M. Turner Jr. Board | Director | None mentioned | Reginald M. Turner Jr. is a legal expert and civic leader with extensive experience in public service and community organizations. | |
Richard G. Lindner Board | Director | None mentioned | Richard G. Lindner is a retired CFO of AT&T, Inc., bringing financial and operational expertise to Comerica's Board. | |
Robert S. Taubman Board | Director | Chairman and CEO of The Taubman Realty Group LLC and The Taubman Company LLC | Robert S. Taubman brings real estate development and operations expertise to Comerica's Board, serving as CEO of The Taubman Realty Group. | |
Roger A. Cregg Board | Director | Director at Sterling Construction Company, Inc. | Roger A. Cregg is a financial expert with extensive experience as a CFO and CEO in public companies, currently serving on Comerica's Audit Committee. |
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Given the compelling earn-back period from bond sales, why not be more aggressive in balance sheet restructuring now or in the coming quarters, especially since you have the capital to absorb it?
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With expectations of an easing regulatory environment, how do you plan to capitalize on potential M&A opportunities, and why haven't you pursued more acquisitions given your focus on organic growth?
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If interest rates rise and your CET1 including AOCI declines, how will you manage your capital levels, and could this impact your ability to support loan growth?
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With your efficiency ratio currently elevated in the high 60s, what specific steps are you taking to bring it down to acceptable levels, and can you achieve this through expense reductions without hindering growth initiatives?
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Given the increase in Non-Performing Assets in the fourth quarter due to higher interest rates and pressures on consumer discretionary sectors, how do you plan to manage credit quality moving forward, and are you expecting further deterioration?
Recent press releases and 8-K filings for CMA.
- Highlights a strong foundation and differentiated strategy aimed at driving responsible growth and enhanced returns over time.
- Emphasizes strategic initiatives including targeted revenue investments and leveraging core strengths to capitalize on market opportunities.
- President Trump called for a 100 basis point Fed rate cut, dubbing it “rocket fuel” for the economy.
- May jobs data showed 139,000 new positions and unemployment steady at 4.2%, reducing odds of an imminent rate cut.
- S&P 500 and Nasdaq futures rose 1.2% and 1.5% respectively, while Bitcoin and Ethereum also rallied on easing hopes.
- The Fed is now expected to keep rates unchanged until at least September, focusing on inflation control after a full percentage-point cut in late 2024.
- Earnings beat expectations with $172 million net income and $1.25 EPS, driven by strong deposit performance and disciplined cost management .
- Maintained robust capitalization with a CET1 ratio of 12.05% and Tier 1 ratio of 12.60%, supported by an 81% loan-to-deposit ratio and total liquidity capacity of $42.5B .
- Achieved stable net interest income of $575 million and expanded the net interest margin by 12 basis points, overcoming a seasonal deposit decline of $1.4B (2.3%) through favorable trends and disciplined expense management .
- Total assets reached $77.6 billion as of March 31, 2025, with detailed insights shared during a live conference call .
- Strategically aligned across Commercial Bank, Retail Bank, and Wealth Management segments while emphasizing deposit growth and returning $143 million to shareholders via repurchases and dividends .