- Q3 net income of $136M or $0.74 per share vs. $154M and $0.82 one year ago.
- Net interest income of $422M vs. $414M, with NIM of 2.54% down 13 basis points.
- Provisions of $26M vs. $5M.
- Noninterest income of $264M vs. $215M
- Noninterest expense of $461M v. $397M
- CET 1 ratio of 10.58% up 18 basis points for the quarter.
- Average total loans up 4% Y/Y. Average total deposits up 7%.
- Net loan charge-offs of $23M vs. $3M a year ago. Net loan charge-offs as a percent of average loans of 0.19% up 16 basis points. NPLs of $369M up from $346M. Allowance for loan losses of $622M up from $492M.
- Q4 outlook: "Continued negative migration of loans related to energy is possible, which may be offset by lower exposure balances."
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Earnings call is underway.
- Previously: Comerica beats by $0.04, misses on revenue (Oct. 16)
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CMA flat premarket