By Connor Hart
Comerica logged lower earnings in the second quarter amid modest deposit pressures and a year-over-year decrease in fee-based revenues.
The financial-services group posted net income of $199 million, compared with $206 million a year ago. Quarterly earnings came in at $1.42 a share, topping the $1.25 that analysts polled by FactSet had expected.
Net interest income rose to $575 million from $533 million a year earlier, though the gain was somewhat offset by non-interest income, which fell to $274 million from $291 million.
Analysts had modeled net interest income of $576 million and non-interest income of $268 million.
Chief Executive Curtis Farmer said that improved customer sentiment contributed to broad-based loan growth, offsetting modest deposit pressures and keeping net interest income flat to the first quarter and in line with guidance.
Loans increased by $451 million to $50.7 billion, while deposits decreased by $653 million to $61.2 billion.
The provision for credit losses was $44 million, up from $20 million last quarter.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
July 18, 2025 06:46 ET (10:46 GMT)
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