Businessweek

Comerica Incorporated at its AGM held on April 25, 2013, approved the appointment of Ralph W. Babb as Director.

The Board of Directors of Comerica Incorporated declared a quarterly cash dividend for common stock of 17 cents per share. The dividend is payable July 1, 2013, to common stock shareholders of record June 14, 2013.

Comerica Incorporated reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. The company reported first quarter 2013, net income attributable to common share holders of $132 million, compared to $129 million for the same period of 2012. Earnings per fully diluted share were 70 cents for the first quarter 2013, compared to 66 cents for the same period in 2012. Net interest income was $416 million compared with $442 million for the same period in 2012. Return on average common shareholders equity was 7.68% compared with 7.50% for the same period a year ago. Return on average assets was 0.84% compared with 0.85% for the same period a year ago. Total interest income was $446 million compared with $477 million for the same period in 2012. Income before tax was $184 million compared with $178 million for the same period in 2012. For the quarter, the company recorded a net loan charge offs of $24 million compared with $45 million for the same period a year ago. The company reaffirmed earnings guidance for the full year of 2013. The company is now expecting noninterest income to be relatively stable year-over-year. It success with cross-sell initiatives and selective pricing adjustments is expected to be partially offset by greater-than-anticipated regulatory pressure on certain products, such as customer derivatives. The outlook does not include noncustomer-driven income, as it's difficult to predict. The company expects net interest income to be lower year-over-year due in part to the fact that it had $71 million of accretion last year and the company is expecting $20 million to $30 million of accretion this year.

Comerica Incorporated, Q1 2013 Earnings Call, Apr 16, 2013

Comerica Incorporated announced that they will report Q1, 2013 results at 7:00 AM, Central Standard Time on Apr 16, 2013