Comerica Reports Fourth Quarter 2012 Net Income Of
Comerica Reports Fourth Quarter 2012 Net Income Of $130 Million
11 Percent Increase in Net Income From Third Quarter 2012 Reflects Loan and Fee Income Growth, Expense Control
Full-Year 2012 Net Income of $521 Million Up 33 Percent From 2011
10 Million Shares Repurchased in 2012 Under the Share Repurchase Program
79 Percent of 2012 Net Income Returned to Shareholders
DALLAS, Jan. 16, 2013 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today reported fourth quarter 2012 net income of $130 million, compared to $117 million for the third quarter 2012. Earnings per fully diluted share were 68 cents for the fourth quarter 2012, compared to 61 cents for the third quarter 2012.
Full-year 2012 net income was $521 million, an increase of $128 million, or 33 percent, compared to 2011. 2012 net income included restructuring expenses associated with the acquisition of Sterling Bancshares, Inc. (Sterling) of $35 million ($22 million, after tax), compared to $75 million ($47 million, after tax) for 2011. Earnings per fully diluted share were $2.67 for 2012, compared to $2.09 for 2011.