Comerica Q1 2023 Earnings Report

Reported strong first quarter earnings per share, balancing strong loan growth, a favorable rate environment, robust fee income and excellent credit performance with the impact of incremental funding costs on net interest income. Navigated disruption across the banking industry, protected core customer relationships and improved risk characteristics.

Key Takeaways

Comerica Incorporated reported a net income of $324 million, or $2.39 per share, for the first quarter of 2023. The results reflect strong loan growth, a favorable rate environment, robust fee income, and excellent credit quality, offset by the impact of incremental funding costs on net interest income. The company successfully navigated the disruption in the banking industry and retained its favorable noninterest-bearing orientation.

Strong, Broad-Based Loan Growth

Robust Fee Income

Excellent Credit Quality

Conservative Liquidity and Capital Position to Support Customers