Comerica 2010 Annual Report Download - page 140
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
Business segment financial results are as follows:
(dollar amounts in millions)
Year Ended December 31, 2010
Business
Bank
Retail
Bank
Wealth &
Institutional
Management Finance Other Total
Earnings summary:
Net interest income (expense) (FTE) $ 1,370 $ 531 $ 170 $ (424) $ 4 $ 1,651
Provision for loan losses 286 105 90 - (1) 480
Noninterest income 303 174 240 60 12 789
Noninterest expenses 632 648 324 18 18 1,640
Provision (benefit) for income taxes (FTE) 226 (17) (1) (148) - 60
Income from discontinued operations,
net of tax - - - - 17 17
Net income (loss) $ 529 $ (31) $ (3) $ (234) $ 16 $ 277
Net credit-related charge-offs $ 424 $ 88 $ 52 $ - $ - $ 564
Selected average balances:
Assets $ 30,673 $ 5,865 $ 4,863 $ 9,256 $ 4,896 $ 55,553
Loans 30,286 5,386 4,819 26 - 40,517
Deposits 19,001 16,974 2,762 638 111 39,486
Liabilities 18,979 16,937 2,744 9,917 908 49,485
Attributed equity 3,047 620 399 1,010 992 6,068
Statistical data:
Return on average assets (a) 1.73 % (0.18) % (0.06) % n/m n/m 0.50 %
Return on average attributed equity 17.38 (5.02) (0.77) n/m n/m 2.74
Net interest margin (b) 4.52 3.13 3.53 n/m n/m 3.24
Efficiency ratio 37.77 91.26 80.52 n/m n/m 67.30
Year Ended December 31, 2009
Business
Bank
Retail
Bank
Wealth &
Institutional
Management Finance Other Total
Earnings summary:
Net interest income (expense) (FTE) $ 1,328 $ 510 $ 161 $ (461) $ 37 $ 1,575
Provision for loan losses 860 143 62 - 17 1,082
Noninterest income 291 190 269 292 8 1,050
Noninterest expenses 638 642 302 17 51 1,650
Provision (benefit) for income taxes (FTE) (26) (37) 23 (76) (7) (123)
Income from discontinued operations,
net of tax - - - - 1 1
Net income (loss) $ 147 $ (48) $ 43 $ (110) $ (15) $ 17
Net credit-related charge-offs $ 712 $ 119 $ 38 $ - $ - $ 869
Selected average balances:
Assets $ 36,102 $ 6,566 $ 4,883 $ 11,777 $ 3,481 $ 62,809
Loans 35,402 6,007 4,758 1 (6) 46,162
Deposits 15,395 17,409 2,654 4,564 69 40,091
Liabilities 15,605 17,378 2,645 19,586 496 55,710
Attributed equity 3,385 635 365 1,043 1,671 7,099
Statistical data:
Return on average assets (a) 0.41 % (0.27) % 0.87 % n/m n/m 0.03 %
Return on average attributed equity 4.35 (7.63) 11.71 n/m n/m (2.37)
Net interest margin (b) 3.75 2.93 3.35 n/m n/m 2.72
Efficiency ratio 39.40 91.69 72.60 n/m n/m 69.25
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