Fri, Oct. 16, 8:33 AM
- 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."
- Earnings call is underway.
- Previously: Comerica beats by $0.04, misses on revenue (Oct. 16)
- CMA flat premarket
Fri, Oct. 16, 6:43 AM
Thu, Oct. 15, 5:30 PM
Fri, Jul. 17, 11:05 AM
- Q2 net income of $135M or $0.73 per share vs. $151M and $0.80 one year ago.
- Net interest income of $421M vs. $416M a year ago, with NIM of 2.65% down 13 basis points.
- Noninterest income of $261M vs. $220M. Noninterest expense of $436M vs. $404M.
- Average loans of $2.1B up 5% Y/Y. Average deposits of $408M up 1% from Q1.
- CET 1 ratio of 10.53% up 13 basis points.
- Net charge-offs of $18M or 0.15% of average loans vs. $8M and 0.07% in Q1. Management notes net charge-offs continue to be well below normal readings, and the increase is from unusually low levels. Provision for credit losses up $47M, mostly as a result of energy exposure. Reserve to total loans ratio rises to 1.24%.
- Previously: Comerica misses by $0.02, beats on revenue (July 17)
- CMA -5.3%
Fri, Jul. 17, 6:43 AM
Thu, Jul. 16, 5:30 PM
Fri, Apr. 17, 6:43 AM
Thu, Apr. 16, 5:30 PM
Fri, Jan. 16, 6:52 AM
Thu, Jan. 15, 5:30 PM
Oct. 17, 2014, 6:49 AM
Oct. 16, 2014, 5:30 PM
Jul. 15, 2014, 6:48 AM
Jul. 14, 2014, 5:30 PM
Apr. 15, 2014, 6:45 AM
Apr. 15, 2014, 12:05 AM
Other News & PR