Comerica 2009 Annual Report Download - page 71

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CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries
December 31
2009 2008
(in millions, except
share data)
ASSETS
Cash and due from banks ..................................................... $ 774 $ 913
Federal funds sold and securities purchased under agreements to resell ......................... —202
Interest-bearing deposits with banks ............................................... 4,843 2,308
Other short-term investments ................................................... 138 158
Investment securities available-for-sale .............................................. 7,416 9,201
Commercial loans .......................................................... 21,690 27,999
Real estate construction loans ................................................... 3,461 4,477
Commercial mortgage loans .................................................... 10,457 10,489
Residential mortgage loans ..................................................... 1,651 1,852
Consumer loans ........................................................... 2,511 2,592
Lease financing ........................................................... 1,139 1,343
International loans .......................................................... 1,252 1,753
Total loans .......................................................... 42,161 50,505
Less allowance for loan losses ................................................... (985) (770)
Net loans ........................................................... 41,176 49,735
Premises and equipment ...................................................... 644 683
Customers’ liability on acceptances outstanding ........................................ 11 14
Accrued income and other assets ................................................. 4,247 4,334
Total assets .......................................................... $59,249 $67,548
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits ................................................... $15,871 $11,701
Money market and NOW deposits ................................................ 14,450 12,437
Savings deposits ........................................................... 1,342 1,247
Customer certificates of deposit ................................................. 6,413 8,807
Other time deposits ......................................................... 1,047 7,293
Foreign office time deposits .................................................... 542 470
Total interest-bearing deposits .............................................. 23,794 30,254
Total deposits ........................................................ 39,665 41,955
Short-term borrowings ....................................................... 462 1,749
Acceptances outstanding ...................................................... 11 14
Accrued expenses and other liabilities .............................................. 1,022 1,625
Medium- and long-term debt ................................................... 11,060 15,053
Total liabilities ........................................................ 52,220 60,396
Fixed rate cumulative perpetual preferred stock, series F, no par value,
$1,000 liquidation value per share:
Authorized — 2,250,000 shares
Issued — 2,250,000 shares at 12/31/09 and 12/31/08 ................................. 2,151 2,129
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 12/31/09 and 12/31/08 ................................ 894 894
Capital surplus ............................................................ 740 722
Accumulated other comprehensive loss ............................................. (336) (309)
Retained earnings .......................................................... 5,161 5,345
Less cost of common stock in treasury — 27,555,623 shares at 12/31/09
and 28,244,967 shares at 12/31/08 .............................................. (1,581) (1,629)
Total shareholders’ equity ................................................. 7,029 7,152
Total liabilities and shareholders’ equity ........................................ $59,249 $67,548
See notes to consolidated financial statements.
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