Comerica Q3 2023 Earnings Report
Key Takeaways
Comerica reported a third-quarter net income of $251 million, equivalent to $1.84 per share. The results reflect a successful deposit strategy, growth in customer balances, prudent capital management, and strong credit quality. Deposits increased while loans moderated, and the CET1 ratio rose to 10.79%.
Successfully added new deposits and won back customer balances.
Loans moderated and customer deposits grew, allowing absorption of $6 billion in wholesale funding maturities.
Credit quality remained very strong, with an increased coverage ratio.
Capital generation from earnings and loan optimization increased CET1 ratio to 10.79%.
Comerica
Comerica
Comerica Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income