Comerica Q4 Profit Rises - Quick Facts

(RTTNews) - Financial services company Comerica, Inc. (CMA) Friday said fourth-quarter net income increased to $149 million from $117 million for the fourth quarter of 2013. Earnings per share were 80 cents, up from 62 cents for the quarter . The latest results reflected net charges of $3 million, after tax, or 2 cents per share, from certain actions taken during the period. On average, 29 analysts polled by Thomson Reuters expected earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude special items. Net interest income was $415 million, compared to $430 million in the prior year.

Total non-interest income grew to $225 million from $219 million. Provision for credit losses was $2 million, compared to $9 million in the previous year. For 2015, net interest income is expected to be relatively stable, while provision for credit losses is estimated to be higher, consistent with modest net charge-offs and continued loan growth.