Financial services company Comerica Incorporated (NYSE: CMA) reported a decrease in net interest income and adjusted earnings for the third quarter of 2024.
- The company reported third-quarter earnings per share of $1.33, compared to $1.84 per share in the year-ago quarter
- Adjusted earnings dropped to $1.37 per share in the September quarter from $1.76 per share last year
- Net interest income dropped to $534 million in the three months from $601 million in the prior year
- Loans decreased by $210 million sequentially to $50.9 billion in Q3, mainly reflecting declines in National Dealer Services and Corporate Banking
- The average yield on loans decreased 8 basis points quarter-over-quarter to 6.24% during the three months, reflecting lower nonaccrual interest
- Securities increased $130 million Q-o-Q to $15.9 billion in Q3, reflecting a decrease in average unrealized losses, partially offset by pay-downs and maturities
- Third-quarter deposits increased $841 million quarter-over-quarter to $63.9 billion, with an increase in interest-bearing deposits getting partially offset by a decrease non-interest bearing deposits
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
CAG Earnings: Conagra Brands Q4 adj. profit drops, misses estimates
Conagra Brands, Inc. (NYSE: CAG), a leading provider of consumer packaged goods, reported lower sales and adjusted earnings for the fourth quarter of 2025. Results missed analysts' estimates. Net sales
Delta Air Lines (DAL) Q2 2025 Earnings: Key financials and quarterly highlights
Delta Air Lines (NYSE: DAL) reported its second quarter 2025 earnings results today. Operating revenue remained flat versus the year-ago quarter at $16.64 billion. GAAP net income increased 63% year-over-year
Bank earnings preview: These banking leaders will report Q2 2025 results next week, what to expect
The earnings season is set to kick off next week with quarterly reports from a number of leading banks. JPMorgan Chase & Co. (NYSE: JPM), Citigroup (NYSE: C) and Wells
