Comerica Q1 2025 earnings summary

Comerica reported first quarter 2025 net income of $172 million, or $1.25 per diluted share, compared to $138 million, or $0.98 per share, in Q1 2024. The increase was supported by stronger-than-expected noninterest-bearing deposit levels, disciplined deposit pricing, and lower expenses.

Key metrics (Q1 2025 vs. Q1 2024):

- Net interest income: $575 million (up from $548 million)
- Net interest margin: 3.18 percent (up from 2.80 percent)
- Noninterest income: $254 million (up from $236 million)
- Noninterest expenses: $584 million (down from $603 million)
- Return on average assets: 0.90 percent (up from 0.66 percent)
- Return on equity: 10.60 percent (up from 9.33 percent)
- CET1 capital ratio: 12.05 percent (up from 11.48 percent)

Credit quality:

- Net charge-offs: $26 million (compared to $14 million a year ago)
- Allowance for credit losses: $719 million, or 1.44 percent of total loans
- Nonperforming assets: $301 million, or 0.60 percent of total loans

Balance sheet trends:

- Average loans: $50.2 billion (down from $51.4 billion)
- Average deposits: $61.9 billion (down from $65.3 billion)
- Noninterest-bearing deposits: $23.5 billion, representing 38 percent of total deposits

Capital actions:

- Total capital returned to shareholders: $143 million, through $93 million in common dividends and $50 million in share repurchases
- Tangible common equity per share: $45.85 (up from $37.84)
- Common equity ratio: 8.58 percent (up from 7.12 percent)

Management commentary emphasized stability in credit quality, efficient expense control, and strong liquidity, while expressing confidence in the bank's ability to navigate a changing rate environment.