Comerica 2011 Annual Report Download - page 87

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F-50
“will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, as they relate to the Corporation or its
management, are intended to identify forward-looking statements.
The Corporation cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties,
which change over time. Forward-looking statements speak only as of the date the statement is made, and the Corporation does
not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date
the forward-looking statements are made. Actual results could differ materially from those anticipated in forward-looking
statements and future results could differ materially from historical performance.
In addition to factors mentioned elsewhere in this report or previously disclosed in the Corporation's SEC reports
(accessible on the SEC's website at www.sec.gov or on the Corporation's website at www.comerica.com), actual results could
differ materially from forward-looking statements and future results could differ materially from historical performance due to a
variety of reasons, including but not limited to, the following factors:
• general political, economic or industry conditions, either domestically or internationally, may be less favorable than expected;
• governmental monetary and fiscal policies may adversely affect the financial services industry, and therefore impact the
Corporation's financial condition and results of operations;
• volatility and disruptions in global capital and credit markets may adversely impact the Corporation's business, financial
condition and results of operations;
• any reduction in the Corporation's credit rating could adversely affect the Corporation and/or the holders of its securities;
• the soundness of other financial institutions could adversely affect the Corporation;
• changes in regulation or oversight may have a material adverse impact on the Corporation's operations;
• unfavorable developments concerning credit quality could adversely impact the Corporation's financial results;
• the Corporation's acquisition of Sterling or any future strategic acquisitions or divestitures may present certain risks to the
Corporation's business and operations;
• compliance with more stringent capital and liquidity requirements may adversely affect the Corporation;
• declines in the businesses or industries of the Corporation's customers could cause increased credit losses, which could
adversely affect the Corporation;
• the introduction, implementation, withdrawal, success and timing of business initiatives and strategies, including, but not
limited to, the opening of new banking centers, may be less successful or may be different than anticipated, which could
adversely affect the Corporation's business;
• proposed revenue enhancements and efficiency improvements may not be achieved;
• the Corporation may not be able to utilize technology to efficiently and effectively develop, market and deliver new products
and services to its customers;
• operational difficulties, failure of technology infrastructure or information security incidents could adversely affect the
Corporation's business and operations;
• changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing, could adversely
affect the Corporation's net interest income and balance sheet;
• competitive product and pricing pressures among financial institutions within the Corporation's markets may change;
• changes in customer behavior may adversely impact the Corporation's business, financial condition and results of operations;
• management's ability to maintain and expand customer relationships may differ from expectations;
• management's ability to retain key officers and employees may change;
• legal and regulatory proceedings and related matters with respect to the financial services industry, including those directly
involving the Corporation and its subsidiaries, could adversely affect the Corporation or the financial services industry in
general;
• methods of reducing risk exposures might not be effective;
• terrorist activities or other hostilities may adversely affect the general economy, financial and capital markets, specific
industries, and the Corporation;
• catastrophic events, including, but not limited to, hurricanes, tornadoes, earthquakes, fires and floods, may adversely affect
the general economy, financial and capital markets, specific industries, and the Corporation;
• changes in accounting standards could materially impact the Corporation's financial statements; and
• the Corporation's accounting policies and processes are critical to the reporting of financial condition and results of
operations. They require management to make estimates about matters that are uncertain.