Comerica 2014 Annual Report Download - page 142

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
F-105
(dollar amounts in millions)
Michigan California Texas Other
Markets Finance
& Other Total
Year Ended December 31, 2013
Earnings summary:
Net interest income (expense) (FTE) $ 751 $ 692 $ 541 $ 313 $ (622) $ 1,675
Provision for credit losses (12) 18 35 8 (3) 46
Noninterest income 357 150 132 170 73 882
Noninterest expenses 714 396 363 197 52 1,722
Provision (benefit) for income taxes (FTE) 145 160 98 70 (225) 248
Net income (loss) $ 261 $ 268 $ 177 $ 208 $ (373) $ 541
Net credit-related charge-offs $ 6 $ 27 $ 20 $ 20 $ — $ 73
Selected average balances:
Assets $ 13,879 $ 14,233 $ 10,694 $ 7,504 $ 17,623 $ 63,933
Loans 13,461 13,978 9,989 6,984 — 44,412
Deposits 20,346 14,705 10,247 5,893 520 51,711
Statistical data:
Return on average assets (a) 1.22% 1.72% 1.54% 2.77% N/M 0.85%
Efficiency ratio (b) 64.38 47.07 53.86 40.72 N/M 67.32
(dollar amounts in millions) Michigan California Texas Other
Markets Finance
& Other Total
Year Ended December 31, 2012
Earnings summary:
Net interest income (expense) (FTE) $ 777 $ 692 $ 564 $ 318 $ (620) $ 1,731
Provision for credit losses (30) 24 49 34 2 79
Noninterest income 385 136 124 157 68 870
Noninterest expenses 707 395 360 183 112 1,757
Provision (benefit) for income taxes (FTE) 170 156 98 64 (244) 244
Net income (loss) $ 315 $ 253 $ 181 $ 194 $ (422) $ 521
Net credit-related charge-offs $ 41 $ 47 $ 22 $ 60 $ — $ 170
Selected average balances:
Assets $ 13,921 $ 12,988 $ 10,307 $ 7,859 $ 17,494 $ 62,569
Loans 13,618 12,747 9,552 7,389 — 43,306
Deposits 19,573 14,568 10,040 4,959 393 49,533
Statistical data:
Return on average assets (a) 1.53% 1.63% 1.60% 2.47% N/M 0.83%
Efficiency ratio (b) 60.75 47.67 52.28 39.76 N/M 67.85
(a) Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(b) Noninterest expenses as a percentage of the sum of net interest income (FTE) and noninterest income excluding net securities gains.
FTE – Fully Taxable Equivalent
N/M – not meaningful