DETROIT, Jan. 16 /PRNewswire-FirstCall/ --
Comerica Incorporated (NYSE: CMA) today reported 2002 fourth quarter earnings
of $206 million, or $1.18 per diluted share, compared with $199 million, or
$1.11 per diluted share, for the comparable quarter of last year. Included in
fourth quarter 2002 earnings is a $57 million ($37 million after-tax, or $0.21
per diluted share) gain on the sale of securities and a $5 million ($3 million
after-tax, or $0.02 per diluted share) loss on the disposal of loans held for
sale. In addition, Comerica increased its reserves by $33 million, taking the
allowance for loan losses to total loans to 1.87 percent, compared with 1.82
percent for the third quarter 2002.
4th Qtr '02 3rd Qtr '02 4th Qtr '01
Diluted EPS $1.18 $0.14 $1.11
Net Interest Income (in millions) $533 $528 $536
Net Interest Margin 4.41% 4.46% 4.64%
Noninterest Income (in millions) $254 $216 $224
Noninterest Expense (in millions) $373 $443 $380
Net Income (in millions) $206 $24 $199
Return on Equity 16.86% 1.93% 16.33%
