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Dec 31, 2022
Comerica Q4 2022 Earnings Report
Reported record annual earnings per share and maintained expense discipline while supporting growth initiatives.
Key Takeaways
Comerica reported a strong Q4 2022 with net income of $350 million, or $2.58 per share. Average loans grew by $1.3 billion, and the company modestly increased reserves. Credit quality remained exceptional, and the company feels well-positioned to continue delivering superior financial results in 2023.
Net income for Q4 2022 was $350 million, or $2.58 per share.
Average loans grew by $1.3 billion, or over 2%.
Reserves were modestly increased consistent with loan growth and the softening economic outlook.
Credit quality remained exceptional.
Comerica
Comerica
Comerica Revenue by Geographic Location
Revenue by Geographic Location
Michigan Deposits Revenue
CapyFin.comCalifornia Deposits Revenue
CapyFin.comTexas Deposits Revenue
CapyFin.com Forward Guidance
Comerica feels well-positioned to continue to deliver superior financial results with its strong business and geographic profile, loan momentum, reduced interest rate exposure and proven credit discipline. Delivering positive operating leverage remains a priority while strategically investing to drive growth.
Positive Outlook
- Strong business and geographic profile
- Loan momentum
- Reduced interest rate exposure
- Proven credit discipline
- Commitment to deliver superior financial results
Challenges Ahead
- Softening economic outlook
- Average deposits decreased
- Expenses reflected investments in our business
- Inflationary pressures
- Economic environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income