Reports Q4 net charge-offs .15%. Reports Q4 CET1 capital ratio 11.09%. “In 2023, we demonstrated the strength and resilience of our model as we navigated disruptive industry events,” said Curtis Farmer, Comerica chairman and CEO. “We produced record average loans of $53.9 billion and the highest year of net interest income in our history. Deposits were impacted by diversification efforts, but successful execution of a targeted strategy and our strong customer relationships supported stabilization of our compelling funding base. Credit quality remained excellent with net charge-offs of 4 basis points, and we continued to grow capital well in excess of our 10% strategic target.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CMA:
- Options Volatility and Implied Earnings Moves Today, January 19, 2024
- Comerica Reports Fourth Quarter and Full-Year 2023 Earnings Results
- Goldman Sachs Says the Bull Run in Equity Markets May Sustain — Here Are 3 Stocks to Bet On
- Options Volatility and Implied Earnings Moves This Week, January 16 – January 19, 2024
- Comerica price target raised to $62 from $57 at JPMorgan