Comerica 2009 Annual Report Download - page 145
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
Year Ended December 31, 2007
Finance &
Other Other
Midwest Western Texas Florida Markets International Businesses Total
(dollar amounts in millions)
Earnings summary:
Net interest income
(expense) (FTE) ........... $ 889 $ 740 $ 286 $ 46 $ 135 $ 68 $ (158) $ 2,006
Provision for loan losses ....... 88 108 8 11 16 (15) (4) 212
Noninterest income ........... 471 130 86 14 55 38 94 888
Noninterest expenses ......... 820 456 235 38 92 44 6 1,691
Provision (benefit) for income
taxes (FTE) .............. 158 116 45 4 (7) 27 (34) 309
Income from discontinued
operations, net of tax ........ — — — — — — 4 4
Net income (loss) ............ $ 294 $ 190 $ 84 $ 7 $ 89 $ 50 $ (28)$ 686
Net credit-related charge-offs .... $ 110 $ 28 $ 9 $ 2 $ 10 $ (6) $ — $ 153
Selected average balances:
Assets .................... $19,133 $17,091 $7,106 $1,688 $4,490 $2,230 $ 6,836 $58,574
Loans .................... 18,559 16,552 6,827 1,672 4,081 2,101 29 49,821
Deposits .................. 15,772 13,325 3,884 286 1,433 1,095 6,139 41,934
Liabilities .................. 16,437 13,361 3,901 287 1,550 1,116 16,852 53,504
Attributed equity ............ 1,723 1,213 595 97 335 155 952 5,070
Statistical data:
Return on average assets (a) ..... 1.53% 1.11% 1.19% 0.41% 1.99% 2.25% N/M 1.17%
Return on average
attributed equity ........... 16.98 15.69 14.19 7.20 26.68 32.42 N/M 13.52
Net interest margin (b) ........ 4.78 4.48 4.19 2.77 3.34 3.14 N/M 3.66
Efficiency ratio .............. 60.58 52.37 63.12 63.76 48.40 42.36 N/M 58.58
(a) Return on average assets is calculated based on the greater of average assets or average liabilities and
attributed equity.
(b) Net interest margin is calculated based on the greater of average earning assets or average deposits and
purchased funds.
(c) 2008 included an $88 million net charge ($56 million, after-tax) related to the repurchase of auction-rate
securities from customers.
FTE — Fully Taxable Equivalent
N/M — Not Meaningful
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