comerica inc (CMA) Key Developments
Comerica Incorporated Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 08:15 AM
Aug 28 14
Comerica Incorporated Presents at Barclays 2014 Global Financial Services Conference, Sep-09-2014 08:15 AM. Venue: Hilton Midtown, 1335 Avenue of the Americas, New York, New York, United States. Speakers: Darlene P. Persons, Senior Vice President and Director of Investor Relations, Karen L. Parkhill, Vice Chairman, Chief Financial Officer, Member of Management Policy Committee, Vice Chairman of Comerica Bank and Chief Financial Officer of Comerica Bank, Ralph W. Babb, Chairman, Chief Executive Officer, President, Chairman of Capital Committee, Chairman of Special Preferred Stock Committee, Member of Management Policy Committee, Chairman of Comerica Bank, Chief Executive Officer of Comerica Bank and President of Comerica Bank.
John M. Killian to Retire in May 2015 as Chief Credit Officer of Comerica
Aug 13 14
Comerica Incorporated announced that John M. Killian, Chief Credit Officer, will retire in May 2015 following a 40-year career with the bank. Peter W. Guilfoile, Executive Vice President and National Credit Administration Manager, will serve as the new Chief Credit Officer effective Feb.1, 2015, and will become a member of Comerica's Management Policy Committee at that time. He will report to Ralph W. Babb Jr., Comerica Chairman and Chief Executive Officer.
Comerica Directors Declares Quarterly Dividend Payable October 1, 2014
Jul 22 14
The board of directors of Comerica Incorporated declared a quarterly cash dividend for common stock of 20 cents ($0.20) per share. The dividend is payable October 1, 2014, to common stock shareholders of record September 15, 2014.
Comerica Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014; Reports Net Loan Charge-Offs for the Second Quarter Ended June 30, 2014
Jul 15 14
Comerica Incorporated reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net interest income of $416 million against $414 million a year ago. Net income attributable to common shares was $149 million or $0.80 diluted per share against $141 million or $0.76 diluted per share a year ago. Return on average common shareholders equity was 8.27% against 8.23% a year ago. Return on average assets was 0.93% against 0.90% a year ago. Net income increased $8 million, or 5%, primarily reflecting a reduction in pension expense, largely due to changes in actuarial assumptions. Total interest income was $441 million against $443 million a year ago. Income before income taxes was $221 million against $207 million a year ago.
For the six months, the company reported net interest income of $826 million against $830 million a year ago. Net income attributable to common shares was $286 million or $1.54 diluted per share against $273 million or $1.46 diluted per share a year ago. Comprehensive income was $377 million against $152 million a year ago. Return on average common shareholders' equity was 7.97% against 7.95% a year ago. Return on average assets was 0.90% against 0.87% a year ago. Total interest income was $876 million against $889 million a year ago. Income before income taxes was $424 million against $404 million a year ago.
For the quarter, the company reported net loan charge-offs of $9 million against $17 million a year ago.
For 2014, the company expects net interest income modestly lower, reflecting a decline in purchase accounting accretion, to $25 million to $30 million, and the effect of continued pressure from the low-rate environment, approximately offset by loan growth. Then company expects Income tax expense to approximate 32% of pre-tax income.
Comerica Incorporated to Report Q2, 2014 Results on Jul 15, 2014
Jun 16 14
Comerica Incorporated announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Jul 15, 2014