Comerica (CMA) Investor Presentation summary

Strategic positioning and business model

• Focus on tailored solutions and localized advice for target customers, blending small bank service with large bank capabilities.

• Diversified business model across commercial, retail, and wealth management, with a cohesive relationship strategy.

• Geographic footprint spans major U.S. growth markets, with significant presence in Texas, California, and Michigan, and expanding in the Southeast and Mountain West.

Financial performance and capital position

• 3Q24 average deposits grew 1.3% to $63.9B, while average loans decreased slightly to $50.9B.

• Net interest income remained stable at $534M, with a slight increase excluding BSBY cessation impacts.

• Tangible book value per share rose 23% quarter-over-quarter, and CET1 capital ratio increased to 11.96%, well above the 10% target.

• Efficiency ratio increased to 68.8%, reflecting higher salaries and benefits, but noninterest expenses were well managed.

Credit quality and risk management

• Net charge-offs remained low at 0.08% of total loans, and allowance for credit losses increased to 1.43%.

• Nonperforming assets and criticized loans stayed well below historical averages, with manageable migration in monitored portfolios.

• Commercial real estate and energy portfolios maintained strong credit profiles, with minimal criticized loans and no significant net charge-offs.