Comerica ( (CMA) ) has released its Q4 earnings. Here is a breakdown of the information Comerica presented to its investors.
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Comerica Incorporated is a financial services company based in Dallas, Texas, providing commercial banking, retail banking, and wealth management services. In its latest earnings report, Comerica announced a net income of $698 million for the full year 2024, equating to $5.02 per share, and $170 million for the fourth quarter, or $1.22 per share. The company highlighted its strong liquidity and credit quality, alongside a focus on enhancing capital and liquidity positions. Key financial metrics for 2024 included a net interest income of $2.19 billion, a net interest margin of 2.88%, and a common equity Tier 1 capital ratio of 11.89%. The company managed to maintain strong credit quality with a net charge-off rate of 10 basis points and resumed share repurchases. Despite some challenges in loan demand, Comerica saw favorable deposit trends, which benefited its net interest income. Looking ahead, Comerica remains optimistic about economic conditions in 2025, with an expectation of growth supported by promising signals across various business segments.
