Comerica reports Q4 adjusted EPS $1.46, consensus $1.36

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.”