Comerica reports Q4 adjusted EPS $1.20, consensus $1.26

Reports Q4 NII $575M, NIM 3.06%, provision for credit losses $21M. “In 2024, we took steps to further enhance our strong foundation as we improved our capital and liquidity positions while demonstrating credit and expense discipline,” said Curtis C. Farmer, Comerica (CMA) Chairman and CEO. “Although loan demand remained muted throughout the year, our deliberate deposit focus drove improved customer balances, enabling a meaningful reduction in wholesale funding and benefiting net interest income. Successful execution of our expense calibration efforts demonstrated our commitment to driving efficiency while creating capacity for strategic and risk management investments, and credit quality remained strong with net charge-offs of 10 bps. Despite ongoing volatility in the rate curve, we grew our book value and resumed returning capital to shareholders through share repurchases.”