Comerica sees 2023 average loans up 7%-8% vs. 2022

Average loans +7 to 8% with growth in most businesses; Average deposits -7 to -8% as customers continue to utilize excess liquidity; Net interest income +17 to 20% reflecting net benefit from higher rates & loan growth; Credit Quality NCOs move toward lower end of normal range & continue to modestly build reserves; Noninterest income +5% with higher risk management income, card & fiduciary; partly offset by lower derivative income, deposit service charges & BOLI; assumes CVA & deferred comp do not repeat; Noninterest expenses +7% with pension up, assuming deferred comp does not repeat & lower modernization and +4% excluding pension & modernization, assuming deferred comp does not repeat; Tax FY tax rate ~23%, excluding discrete items; Capital Target CET1 of ~10%. Comments taken from Q4 conference call slides.