Comerica 2008 Annual Report Download - page 13

TABLE 1: SELECTED FINANCIAL DATA
Years Ended December 31
2008 2007 2006 2005 2004
(dollar amounts in millions,
except per share data)
EARNINGS SUMMARY
Net interest income ................................... $ 1,815 $ 2,003 $ 1,983 $ 1,956 $ 1,811
Provision for loan losses ................................ 686 212 37 (47) 64
Noninterest income .................................... 893 888 855 819 808
Noninterest expenses .................................. 1,751 1,691 1,674 1,613 1,458
Provision for income taxes ............................... 59 306 345 393 349
Net income ......................................... 213 686 893 861 757
Preferred stock dividends ................................ 17 ————
Net income applicable to common stock ...................... 196 686 893 861 757
PER SHARE OF COMMON STOCK
Diluted net income per common share ....................... $ 1.29 $ 4.43 $ 5.49 $ 5.11 $ 4.36
Cash dividends declared ................................ 2.31 2.56 2.36 2.20 2.08
Common shareholders’ equity ............................. 33.31 34.12 32.70 31.11 29.94
Market value ........................................ 19.85 43.53 58.68 56.76 61.02
YEAR-END BALANCES
Total assets ......................................... $67,548 $62,331 $58,001 $53,013 $51,766
Total earning assets .................................... 62,374 57,448 54,052 48,646 48,016
Total loans ......................................... 50,505 50,743 47,431 43,247 40,843
Total deposits ....................................... 41,955 44,278 44,927 42,431 40,936
Total medium- and long-term debt .......................... 15,053 8,821 5,949 3,961 4,286
Total common shareholders’ equity ......................... 5,023 5,117 5,153 5,068 5,105
Total shareholders’ equity ................................ 7,152 5,117 5,153 5,068 5,105
AVERAGE BALANCES
Total assets ......................................... $65,185 $58,574 $56,579 $52,506 $50,948
Total earning assets .................................... 60,422 54,688 52,291 48,232 46,975
Total loans ......................................... 51,765 49,821 47,750 43,816 40,733
Total deposits ....................................... 42,003 41,934 42,074 40,640 40,145
Total medium- and long-term debt .......................... 12,457 8,197 5,407 4,186 4,540
Total common shareholders’ equity ......................... 5,166 5,070 5,176 5,097 5,041
Total shareholders’ equity ................................ 5,442 5,070 5,176 5,097 5,041
CREDIT QUALITY
Total allowance for credit losses ........................... $ 808 $ 578 $ 519 $ 549 $ 694
Total nonperforming loans ............................... 917 404 214 138 312
Foreclosed property ................................... 66 19 18 24 27
Total nonperforming assets ............................... 983 423 232 162 339
Net credit-related charge-offs ............................. 472 153 72 116 194
Net credit-related charge-offs as a percentage of average total loans .... 0.91% 0.31% 0.15% 0.26% 0.48%
Allowance for loan losses as a percentage of total period-end loans .... 1.52 1.10 1.04 1.19 1.65
Allowance for loan losses as a percentage of total nonperforming loans . . 84 138 231 373 215
RATIOS
Net interest margin .................................... 3.02% 3.66% 3.79% 4.06% 3.86%
Return on average assets ................................ 0.33 1.17 1.58 1.64 1.49
Return on average common shareholders’ equity ................. 3.79 13.52 17.24 16.90 15.03
Efficiency ratio ...................................... 66.17 58.58 58.92 58.01 55.60
Dividend payout ratio .................................. 179.07 57.79 42.99 43.05 47.71
Average common shareholders’ equity as a percentage of average assets . 7.93 8.66 9.15 9.71 9.90
Tier 1 common capital as a percentage of risk-weighted assets ........ 7.08 6.85 7.54 7.78 8.13
Tier 1 capital as a percentage of risk-weighted assets .............. 10.66 7.51 8.03 8.38 8.77
Tangible common equity as a percentage of tangible assets .......... 7.21 7.97 8.62 9.16 9.39
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