January 16, 2018 / 11:47 AM / 6 months ago

BRIEF-Comerica Inc Posts Q4 Earnings 63 Cents Per Share

Jan 16 (Reuters) - Comerica Inc:

* QTRLY EARNINGS PER SHARE $0.63 PER DILUTED SHARE‍​

* QTRLY NET INTEREST INCOME $545 MILLION VERSUS $455 MILLION LAST YEAR

* QTRLY PROVISION FOR CREDIT LOSSES $17 MILLION VERSUS $35 MILLION

* - QUARTER-END COMMON EQUITY TIER 1 CAPITAL RATIO 11.55 PERCENT VERSUS 11.09 PERCENT LAST YEAR

* - Q4 & FY 2017 RESULTS WERE IMPACTED BY A $107 MILLION CHARGE TO ADJUST DEFERRED TAXES DUE TO ENACTMENT OF TAX CUTS AND JOBS ACT

* COMERICA- IN QUARTER, GRANTED ABOUT 4,500 COLLEAGUES ONE-TIME BONUS OF $1,000, RAISED MINIMUM WAGE TO $15 PER HOUR, WHICH IMPACTS OVER 700 EMPLOYEES

* SEES PROVISION FOR CREDIT LOSSES OF 15 TO 25 BASIS POINTS AND NET CHARGE-OFFS TO REMAIN LOW FOR FULL-YEAR 2018‍​

* COMERICA-SEES FULL-YEAR 2018 BENEFIT FROM 2017 RATE INCREASES TO BE $110 MILLION - $125 MILLION, ASSUMING 20 TO 40 PERCENT DEPOSIT BETA FOR DECEMBER RATE INCREASE

* - QTRLY ADJUSTED EARNINGS PER SHARE $1.28

* Q4 EARNINGS PER SHARE VIEW $1.21 -- THOMSON REUTERS I/B/E/S Source text: (bit.ly/2FFx3mW) Further company coverage:

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