Comerica Incorporated (CMA): Business Model Canvas [Dec-2025 Updated]

You're digging into Comerica Incorporated (CMA)'s engine, and honestly, it's a classic, relationship-driven commercial bank model, but with a modern twist. We're seeing them lean hard into faster payments and fee growth to hit that projected 5% to 7% Net Interest Income growth this year, all while sitting on a rock-solid capital base, like that 11.94% CET1 ratio from Q2 2025. If you want to see exactly how their $50.7 billion loan book and 16-year average customer tenure translate into their nine building blocks, check out the full canvas breakdown below.

Comerica Incorporated (CMA) - Canvas Business Model: Key Partnerships

You're looking at the core relationships Comerica Incorporated maintains to power its commercial and retail banking segments, especially as payments and digital integration become central. Honestly, these partnerships are where the bank is placing near-term bets for deposit stability and fee income growth.

Fintech and embedded finance companies for deposit growth

Comerica Incorporated's strategy, as outlined in its September 2025 outlook, explicitly calls for building targeted treasury APIs and establishing Fintech & Financial Institution embedded partnerships to drive capital-light growth in fee income. This focus is a direct response to the evolving payments ecosystem.

The bank is positioning itself to capture deposits from these embedded relationships. For context, Comerica Incorporated reported average deposits of $62,735 million for the third quarter of 2025, following an average of $61,246 million in the second quarter of 2025. The bank is one of the 25 largest commercial U.S. financial holding companies, reporting total assets of approximately $78.0 billion at June 30, 2025.

The bank's success in the Technology & Life Sciences vertical is also relevant here; Comerica ranks first nationally among U.S. bank holding companies with greater than $70B in assets, based on commercial and industrial loans outstanding as a percentage of assets, as of June 30, 2025. This strength in lending to innovative companies often translates into deeper, stickier deposit relationships.

Here is a look at some of the related Treasury Management metrics that these partnerships influence:

The Clearing House for RTP® network On-Behalf-Of (OBO) payments

Comerica Incorporated is a key player in real-time payments infrastructure through its partnership with The Clearing House (TCH). Comerica Bank was an early adopter of TCH's revised rules for domestic On-Behalf-Of (OBO) payments on the RTP® network, taking part in one of the first OBO transactions under the new rules in June 2025 with client Monex USA.

This commitment to modernizing real-time payments earned Comerica Bank the Silver honor in the Product Development category at the 2025 Datos Impact Awards for advancing the adoption of RTP OBO payments. The bank is focused on integrating these new OBO capabilities into a single API to simplify interactions for embedded finance companies.

The broader RTP network context shows significant growth. In the second quarter of 2025, the RTP network processed $481 billion in payments, with transaction volume climbing 8% to over 107 million payments. Over 1,000 banks and credit unions are live on the platform.

The OBO capability is designed to unlock real-time disbursement use cases at scale, such as payroll and marketplace payouts. This is a direct play to capture high-value, high-frequency transaction flows.

Technology providers for expanding treasury APIs

The push for better digital service delivery is supported by investments in core technology platforms. Comerica has rebranded its online cash and information management solutions under the umbrella of Comerica Treasury Management Connect (TM Connect). This suite is designed to make it simpler for business customers to transition between applications as their needs change.

The TM Connect family includes specific applications that rely on underlying API infrastructure:

• Comerica TM Connect Web (formerly Comerica NetVision®)
• Comerica TM Connect Desktop (formerly Comerica Gateway®)
• Comerica TM Connect File Transfer (formerly Comerica NGT®)
• Web Banking for Small Business®

The bank's COO noted in January 2025 that the strategic march to the cloud is intended to unlock potential and allow the bank to move more quickly, which is foundational for expanding API capabilities to serve the needs of fintechs and commercial clients.

Other Financial Institutions (FIs) for liquidity management solutions

Comerica is actively partnering with other FIs to expand its reach and enhance customer support, which directly impacts liquidity management and deposit gathering. A major development in late 2025 was the announcement on October 6, 2025, that Fifth Third Bancorp will acquire Comerica in an all-stock transaction. This merger, anticipated to close at the end of the first quarter of 2026, is framed as a milestone opportunity to leverage the strengths of both organizations to expand reach.

Comerica's Q3 2025 results showed that deposit pricing performed in line with expectations, contributing to relatively stable net interest income of $574 million for the quarter. The bank's estimated Common Equity Tier 1 capital ratio stood at a strong 11.90% as of the third quarter of 2025, well above its strategic target, indicating a solid foundation for managing liquidity and capital requirements.

Finance: draft pro-forma liquidity impact analysis for Q1 2026 by next Tuesday.

Comerica Incorporated (CMA) - Canvas Business Model: Key Activities

You're focusing on the core engine of Comerica Incorporated's operations, the things they must do well to make their value proposition work. Honestly, it's all about deploying capital wisely and keeping the funding cheap and stable.

Commercial lending and loan syndication services

Commercial lending is central, especially in the Middle Market. Comerica Incorporated is definitely positioning itself as a leader here. As of June 30, 2025, Comerica Incorporated ranked first nationally among U.S. bank holding companies with assets over $70 billion, based on commercial and industrial loans outstanding as a percentage of assets.

The Loan Syndication Team actively structures and syndicates senior debt facilities for clients. They handle deals ranging in size from $25 million to $1 billion+. The overall average loan balance for the bank was $50.7 billion in Q2 2025. Management has a goal for a 5-year Compound Annual Growth Rate (CAGR) of 6 - 8% for Middle Market & Business Banking loans.

Here's a quick look at the loan portfolio structure as of Q2 2025, based on the latest available segment data:

Strategic investment in faster payments (RTP, FedNow) and treasury APIs

Comerica Incorporated is actively investing in modern payment rails to enhance its Treasury Management offering. They were recognized with a 2025 Datos Impact Award for advancing The Clearing House's On-Behalf-Of (OBO) payments on the RTP(R) network. This focus on real-time rails is key to deepening commercial relationships.

The bank has a stated goal to build targeted treasury APIs. This effort is already showing results, with $3 billion growth in new liquidity management solutions reported since Q3 2023 through Q1 2025.

• ~97% of Commercial Bank noninterest-bearing deposits utilize Treasury Management services.
• Average Middle Market relationships use 8 Treasury Management products.
• The bank is focused on expanding fintech and Financial Institution embedded partnerships.

Wealth management, trust, and financial advisory services

Wealth Management is a significant fee-income driver. Total Wealth Management represents approximately ~27% of Comerica Incorporated's Noninterest Income. As of June 30, 2025, total Assets Under Administration (AUA) stood at ~$193 billion.

The Fiduciary Services (Trust) line is a pioneer, reporting ~$156 billion in AUA and achieving a 5-year revenue CAGR of 6% in that third-party fiduciary business. The Comerica Financial Advisors platform is also growing, driving a 17% increase in brokerage fees from 1H24 to 1H25.

Expanding Capital Markets, including M&A Advisory and Syndications

Capital Markets income is targeted for capital-light growth. Comerica Incorporated expects its Investment Banking segment for FY25 to be approximately 2X its FY24 performance. The firm prioritized introducing its M&A advisory team to its customer base and closed its first deal as of March 2025.

The Debt & Equity Capital Markets business has shown growth, moving from $113 billion in FY20 to $141 billion in FY24, with a stated 5-year goal CAGR of 5 to 6%.

Core deposit gathering, with a focus on granular, high-value relationships

Securing stable, low-cost funding is a defintely core activity. Comerica Incorporated reported period-end Total Deposits of $60.0 billion as of June 30, 2025. The bank is deliberately reducing higher-cost brokered time deposits, projecting average deposits for 2025 to decline by 2% to 3%.

The focus is on granularity. In Q2 2025, the noninterest-bearing deposit mix remained stable at 38%. The bank has a goal for a 5 - 7% average deposit 5-year CAGR, excluding Direct Express. The Middle Market segment shows high-value relationships, with average deposit balances of $4.2MM, which includes $1.4MM in noninterest-bearing balances. For Retail customers, the average checking account balance is approximately ~$28K.

Finance: draft 13-week cash view by Friday.

Comerica Incorporated (CMA) - Canvas Business Model: Key Resources

You're looking at what Comerica Incorporated actually uses to make its business model work-the tangible and intangible assets that drive their value. Honestly, for a bank, this boils down to capital strength, the physical footprint, and the deep knowledge held by their teams.

Here's a quick look at the core quantitative resources Comerica Incorporated was holding as of mid-2025, which you'll want to keep front-of-mind when assessing their stability:

That capital position is definitely a key resource; the estimated CET1 ratio of 11.94% in Q2 2025 was well above their stated long-term target of approximately 10%. This buffer lets them absorb shocks and deploy capital, like the $193 million returned to shareholders in that quarter.

The loan portfolio itself is a massive asset, hitting average loans of $50.7 billion in Q2 2025, showing growth across most segments. Also, the relationships they've built are deep; the average Retail customer tenure was reported at 16 years, and the average Middle Market relationship tenure was 15 years. That kind of stickiness is hard to replicate.

Comerica Incorporated's physical presence is concentrated in specific high-growth areas. They operate across 5 states, which is a deliberate choice to focus on markets where they see opportunity.

• Geographic Footprint: TX, CA, MI, AZ, FL.
• California alone accounted for a network of 92 branches as of April 1, 2025.
• The bank maintains its presence in key MSAs like Dallas-Fort Worth-Arlington and the San Francisco Bay Area in California.

Beyond the balance sheet and buildings, the specialized knowledge within their teams is a critical resource. They position themselves as advisors, not just bankers, which requires specific industry insight to add unique value to customers.

You see this expertise clearly in their focus areas:

• Environmental Services: With dedicated teams active in landfill-gas-to-energy and biomass industries for over a decade.
• Energy and Technology: These are core areas where they aim to grow their Specialty Businesses.
• Commercial Bank: This segment, which includes Middle Market and Business Banking, drives the majority of their loan and deposit activity, relying heavily on this specialized advice.

Finance: draft 13-week cash view by Friday.

Comerica Incorporated (CMA) - Canvas Business Model: Value Propositions

You're looking at the core promises Comerica Incorporated makes to its customers, grounded in their actual operational scale as of late 2025. It's about delivering specific capabilities that match their target segments, from the middle market to high-net-worth families.

Tailored financial solutions for middle-market commercial clients

Comerica Incorporated positions its Commercial Bank segment to deliver solutions that blend the scale of a larger institution with focused attention. This segment is a major component of their funding profile, representing 53% of their average deposits in the second quarter of 2025. The bank emphasizes tailored solutions and customized product offerings, including credit capacity, treasury management, and capital market solutions, specifically designed to meet the needs of middle-market companies. They aim to grow this area along with Business Banking and Specialty Businesses where they claim deep expertise. The bank's focus on the middle market is a key driver, as evidenced by their recognition in Coalition Greenwich Awards for Middle Market Banking.

Comprehensive wealth management for high-net-worth individuals

For high-net-worth (HNW) individuals, Comerica Incorporated's Wealth Management segment offers value through strategic planning, often framed as Wealth Preservation and Transfer. This includes positioning their fiduciary capabilities, allowing clients and estate planners to name Comerica Bank & Trust, N.A. as trustee or executor. This segment contributed 6% of Comerica Incorporated's average deposits in Q2 2025. The value proposition here centers on managing the complexity affluent families face, ensuring a sound plan is in place centered around the entire family, not just the wealth creators. They help owners of wealth plan for wealth management after they are no longer able to manage it themselves.

Modernized, real-time payment solutions (RTP OBO) for transparency

Comerica Incorporated is an early adopter, positioning itself as an innovation leader in instant payment solutions. They became an early adopter of The Clearing House's revised rules for domestic On-Behalf-Of (OBO) payments on the RTP network, completing one of the first OBO payments under the new rules with client Monex USA in June 2025. This move is strategic, as the RTP network already processes over one million transactions daily across more than 950 financial institutions. The new OBO capability creates opportunities for real-time disbursement services like payroll and marketplace payouts, all while adhering to a framework focused on payment transparency, due diligence, and risk management. This effort earned Comerica Bank the Silver honor in the Product Development category at the 2025 Datos Impact Awards.

Relationship-focused service model with local, industry-specific advice

The service model is built on long-term relationships, delivering value-add, industry expertise through tenured colleagues. You see this commitment reflected in the stated average tenure of their leadership: Business leaders average 25 years, Relationship Managers (RMs) average 11 years, and General Managers (GMs) average 19 years as of year-end 2024. This experience is meant to reinforce consistency and a high level of customer service. Comerica Incorporated has been recognized with Coalition Greenwich Awards for both Small Bank Service and Large Bank Capabilities for its Small Business Banking, underscoring the blend of personalized advice and robust product access they aim to provide across their markets.

Granular, stable deposit base for a peer-leading funding profile

A key strength Comerica Incorporated emphasizes is its granular and stable deposit base, which provides a peer-leading funding profile. As of the second quarter of 2025, total average deposits stood at $61.2 billion, supporting total assets of $77.4 billion reported at September 30, 2025. The mix is intentionally balanced, with a strong emphasis on commercial deposits. Their conservative capital management is supported by this base, which saw an estimated Common Equity Tier 1 (CET1) capital ratio of 12.05% in the first quarter of 2025, well above their 10% target. They explicitly focus on a granular Small Business deposit strategy to maintain this stability.

Here's a look at the average deposit composition from Q2 2025:

The mix of noninterest-bearing deposits is also a critical component of their funding advantage. At the end of Q2 2025, noninterest-bearing balances made up 38% of period-end deposits, which helps manage funding costs. You can see the breakdown of that period-end mix below:

• Commercial Noninterest-bearing: 26%
• Commercial Interest-bearing: 33%
• Retail Interest-bearing: 29%
• Retail Noninterest-bearing: 12%

This structure is designed to provide consistency, which is vital when net interest income was reported at $575 million for Q1 2025. Finance: draft the 13-week cash view incorporating Q3 2025 average loan/deposit trends by Friday.

Comerica Incorporated (CMA) - Canvas Business Model: Customer Relationships

You're looking at how Comerica Incorporated maintains its client connections, which is central to its strategy as one of the 25 largest U.S. commercial financial holding companies. The entire model hinges on personal relationships, which they back up with significant operational focus.

Dedicated Relationship Managers (RMs) for commercial and wealth clients

Comerica Incorporated emphasizes a relationship banking strategy that relies heavily on the personal connection provided by its employees. The firm's focus on Middle Market and Wealth Management segments inherently requires dedicated Relationship Managers (RMs) to deliver tailored solutions. While the exact headcount of RMs isn't explicitly broken out, the investment in this talent pool is evident in compensation metrics. As of October 29, 2025, the average annual pay for a Comerica Relationship Banker in the United States was reported at $54,678 a year. This figure represents a premium, sitting 23.6% above the national average for Relationship Banker jobs, equating to an extra $11,525 annually. This premium suggests a competitive approach to attracting and retaining the talent needed to manage high-value commercial and wealth relationships.

High-touch, advisory-based service across all three segments

The commitment to a high-touch, advisory model is validated by external recognition Comerica Incorporated received in 2025. The firm was recognized by Crisil Coalition Greenwich with six Best Bank for Business Awards. Specifically for Small Business Banking, they secured awards for: Values Long-Term Relationships, Advisory Capabilities of Relationship Manager, Satisfaction with Relationship Manager, and Trust. For Middle Market Banking, they earned two awards for Satisfaction with Relationship Manager in the U.S.. This consistent external validation across core segments underscores the perceived quality of their localized advice and tailored product offerings.

The advisory focus extends to Wealth Management, which, as of the end of 2024, represented approximately 27% of Comerica Incorporated's Noninterest Income and managed over $200 billion in Assets Under Administration (AUA).

Strategic investment in talent and training for RMs

Comerica Incorporated explicitly states a strategy of leveraging its 'distinctive relationship model' alongside a 'dedicated training program' to drive growth. This investment in human capital is a near-term priority, as evidenced by the employee base and compensation structure. As of December 31, 2024, Comerica and its subsidiaries employed 7,565 full-time and 363 part-time employees, the core group delivering these relationship services. The firm also focuses on 'reinventing the customer experience' by redesigning its network distribution model to build an integrated omni-channel experience.

Key areas where this relationship focus is applied include:

• Delivering a first-class commercial solution as a "Leading Bank for Business".
• Growing Middle Market, Business Banking & Specialty Businesses.
• Combining modernized platforms with unique understanding of business owners' needs in Wealth Management & Retail.
• Focusing on industry expertise to add unique value across core businesses.

Self-service digital tools for transactional banking needs

While the relationship model is high-touch, Comerica Incorporated balances this with a push for digital efficiency, aiming to deliver a 'robust digital suite' for its commercial clients. The bank has actively worked on the 'modernization of loan processing' and designing scalable processes. This digital enhancement directly impacts customer satisfaction; Comerica used predictive analytics to improve its digital banking experience, resulting in a 5-point increase in customer satisfaction. This shows an effort to make transactional banking seamless, freeing up RMs for advisory work. Nationally, in 2025, a significant majority of consumers-77 percent-prefer to manage their bank accounts through a mobile app or a computer.

Here are some key quantitative metrics related to Comerica Incorporated's customer focus and scale as of late 2025:

Finance: draft 13-week cash view by Friday.

Comerica Incorporated (CMA) - Canvas Business Model: Channels

You're looking at how Comerica Incorporated gets its services to its customers; it's a mix of old-school presence and modern digital tools. Here's the breakdown of the hard numbers and structures defining those channels as of late 2025.

Physical banking centers in 15 states, including expansionary markets

Comerica Incorporated maintains a physical footprint across key growth markets. As of late 2025, the FDIC reported a total of 360 Branch Offices for Comerica Bank. The bank services customers across 15 states, with a presence in 13 of the 15 largest U.S. metropolitan areas. The core physical presence remains concentrated in Arizona, California, Florida, Michigan, and Texas, with recent expansion efforts noted in the Southeast Market (including North Carolina) and the Mountain West Region (including Colorado).

The scale of the physical channel is best viewed against the total asset base and market reach:

Digital platforms: online and mobile banking applications

The digital channel supports the Retail Bank segment through the www.comerica.com website and the mobile application. Customer engagement metrics show significant reliance on these platforms for core services. For instance, as of the first quarter of 2025, 82% of Retail Customers held Checking Accounts, and 89% of Deposit Customers had Checking Accounts, indicating broad adoption of the base services accessible digitally.

The digital channel is a key part of the strategy to reinvent the customer experience.

Dedicated Relationship Managers and Private Bankers

For the Commercial Bank and Wealth Management segments, direct human interaction through specialized bankers is the primary channel. This channel is segmented by the size and complexity of the client relationship, which dictates the type of banker assigned. The focus areas define the channel's target:

• Middle Market Relationship Managers focus on clients with annual revenue between $30 million and $500 million.
• Business Banking Relationship Managers focus on clients with annual revenue between $5 million and $30 million.
• Wealth Management services are delivered through a network of Wealth Management advisors and Comerica Financial Advisors.

ATM network for consumer and small business access

Comerica Incorporated utilizes an ATM network to provide 24-hour access for transactional needs across its footprint. While a precise, total network count for late 2025 is not available, the network is explicitly listed as one of the core service channels for the Retail Bank segment, alongside Banking Centers and Contact Centers. Some physical locations, such as the new Sacramento banking center, feature a 24-hour ATM on site.

The availability of 24/7 automated service is a fundamental component of the consumer channel offering.

Comerica Incorporated (CMA) - Canvas Business Model: Customer Segments

You're looking at how Comerica Incorporated structures its client base, which is key to understanding where their money and focus really are. Comerica Incorporated strategically aligns its operations into three major business segments: the Commercial Bank, the Retail Bank, and Wealth Management. The data from mid-2025 shows a clear weighting toward commercial relationships.

Here's a quick look at the balance sheet context as of June 30, 2025:

The relative size of the deposit base across the main segments as of the second quarter of 2025 gives you a strong hint about where the core business lies:

• Commercial Bank Deposits: 53% of total deposits
• Retail Bank Deposits: 38% of total deposits
• Wealth Management Deposits: 6% of total deposits
• Other (including FIs): 3% of total deposits

Commercial Bank: Small and middle-market businesses, plus multinational corporations

This segment is the largest by deposit share, meaning it drives a significant portion of Comerica Incorporated's funding base. The focus here is deep relationship banking across various business sizes. For the full year 2024, Comerica Incorporated's total revenue was reported at $3.24 Billion USD.

Comerica Incorporated specifically enhanced its support for small businesses in 2024:

• Added more than 100 small business bankers across all markets.
• Doubled the number of members for Comerica BusinessHQ™ in Dallas.
• SBA lending, including 7(a) and 504 loans, totaled $186 million in 2024.

Retail Bank: Consumers and small business clients in growth markets

This segment serves the consumer base alongside smaller business clients, often through the branch network and dedicated small business bankers. The Retail Bank holds the second-largest share of the deposit base. The average noninterest-bearing (NIB) deposit mix, which is generally low-cost funding, was stable at 38% of total average deposits for the second quarter of 2025.

Wealth Management: Affluent, high-net worth, and ultra-high-net-worth individuals

This group focuses on individuals and families needing sophisticated asset management and trust services. While their direct deposit share is smaller at 6% of total deposits, the segment manages substantial assets. As of late 2023, Comerica Incorporated's wealth management division managed approximately $195 billion in assets. The segment continues to be a focus area, with management referencing it in forward-looking statements for 2025.

Financial Institutions (FIs): Banks and non-bank FIs for liquidity management

This customer group is captured within the smaller deposit category, listed as 3% under the 'Other' segment in the Q2 2025 deposit breakdown. Comerica Incorporated provides liquidity management and other services to these institutions. The bank has a history of strong relationships with top-tier Private Equity firms, particularly through its Equity Fund Services, which saw loan increases in Q1 2025.

Comerica Incorporated (CMA) - Canvas Business Model: Cost Structure

You're looking at Comerica Incorporated's cost base as of late 2025, focusing on the major drains on the bottom line. Honestly, managing expenses is key when loan growth is soft, so let's break down the numbers we're seeing from the latest filings.

Non-interest expenses are under the microscope. Management's full-year 2025 outlook, as of Q1, projected noninterest expenses to grow in the 2-3% range compared to 2024. For the three months ended June 30, 2025, total noninterest expenses were reported at $561 million, a decrease of $23 million or 3.9% from the first quarter of 2025, which was $584 million.

Interest expense on deposits remains a pressure point, driven by the cost of funding. For instance, in the second quarter of 2025, the average cost of interest-bearing deposits increased 4 basis points to 2.69%, reflecting relationship-focused pricing. By the third quarter of 2025, the net interest margin decreased partly due to a $1.7 billion increase in interest-bearing deposit accounts and continued relationship-focused deposit pricing.

The cost associated with potential loan losses, the provision for credit losses, is being managed cautiously. Net charge-offs in the second quarter of 2025 were at the low end of the bank's normal range, specifically within the 20 to 40 basis point range. The actual provision expense varied quarterly; it was $44 million for the three months ended June 30, 2025, but decreased to $22 million for the three months ended September 30, 2025.

Comerica Incorporated is making clear investments in its future operations, particularly in technology and talent. Here's a look at some of those specific cost lines for the first nine months of 2025:

Compensation and benefits is definitely the largest single component of non-interest expense. For the nine months ended September 30, 2025, Salaries and benefits expense totaled $1,079 million, up from $1,006 million for the same period in 2024. To give you a more recent snapshot, in the second quarter of 2025, salaries and benefits expense saw a sequential reduction of $10 million due to seasonality.

You can see the main cost drivers:

• Salaries and benefits expense for 9M 2025: $1,079 million.
• Software expense for 9M 2025: $146 million.
• FDIC insurance expense for Q2 2025: $11 million.
• The bank is managing its deposit costs, with the average cost of interest-bearing deposits at 2.69% in Q2 2025.

Comerica Incorporated (CMA) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Comerica Incorporated's profitability, which is heavily reliant on the spread between what it earns on assets and what it pays on liabilities, supplemented by fees for services. Here's the quick math on the 2025 outlook for their main revenue drivers.

Net Interest Income (NII) remains the largest component. For the full year 2025, Comerica Incorporated management projects NII to grow between 5% and 7% compared to 2024. This follows a period where NII was stable quarter-over-quarter, with Q2 2025 NII reported at $575 million, identical to Q1 2025, though Q1 2025 was up year-over-year from $548 million in Q1 2024. The 2024 reported NII was $2.27 billion.

Non-Interest Income (Fee Income) is the secondary pillar. The projection for full-year 2025 fee income growth is approximately 2%. In Q2 2025, Noninterest income reached $274 million, an increase from $254 million in Q1 2025. For context, Comerica Incorporated reported total Non-Interest Income of $1.22 billion in fiscal year 2024.

Comerica Incorporated's total revenue for fiscal year 2024 was $3.49 billion. The revenue streams are broken down across its primary business segments, which helps you see where the interest and fee income originates.

Here is a look at the key income components based on recent figures and segment contributions:

The components driving that Non-Interest Income are diverse, stemming from commercial activities, wealth management, and treasury services.

Commercial loan interest and fees contribute significantly. Interest income on commercial loans, for instance, included a net expense from cash flow swaps of $161 million for the six months ended June 30, 2025. Commercial lending fees, which include fees on the unused portion of commercial lines of credit (unused commitment fees), are reported within commercial lending fees on the Consolidated Statements of Comprehensive Income.

Wealth Management fees are a key source of capital-efficient fee income. Total Wealth Management represents approximately 27% of Comerica's Noninterest Income. This segment manages significant client assets, with over $200 billion in Assets Under Administration (AUA). Within this, the third-party fiduciary business has shown a 5-year revenue Compound Annual Growth Rate (CAGR) of 6%.

Treasury management and payment solutions fees are an area of strategic focus. Innovation in payments has been a recent driver; for example, payments innovation contributed to a 7.9% increase in noninterest income during Q2 2025. Comerica Incorporated was recognized with a 2025 Impact Award for advancing On-Behalf-Of (OBO) payments on the RTP network, showing a commitment to fee-generating payment solutions.

You can see the segment contribution to loans and deposits, which directly feed the interest income:

• Commercial Bank accounted for 53% of average loans and 85% of average deposits as of Q2 2025.
• Wealth Management accounted for 6% of average loans and 10% of average deposits as of Q2 2025.
• Retail Bank accounted for 38% of average loans and 3% of average deposits as of Q2 2025.

The bank is definitely leaning on its commercial and wealth franchises for fee generation.