Comerica (NYSE: CMA) reported Q4 EPS of $1.85, $0.09 better than the analyst estimate of $1.76.

"In 2019, we realized strong loan growth, which pushed total assets to a record level while continuing to serve our relationship-oriented deposit base," said Curt C. Farmer, chairman and chief executive officer. "With the benefit of fee income growth, revenue reached an all-time high. This growth, along with careful cost control, resulted in an efficiency ratio of under 52 percent. In addition, credit quality remained solid and we meaningfully reduced excess capital. Altogether, this produced earnings per share of $7.87, a 9 percentincrease over 2018, as well as a 10 percentincrease in our book value, and our return on equity increased to above 16 percent.

"With respect to the fourth quarter, our results demonstrate our ability to drive solid returns with a return on equity of nearly 15 percent and a return on assets of 1.5 percent, despite declines in interest rates. While loans were relatively stable, deposit growth was robust, increasing $1.5 billion relative to the third quarter, with over 40 percent from noninterest-bearing deposits. Noninterest income growth, strong credit quality and continued active capital management were also positive contributors to our performance.

"As we look forward to the year ahead, we remain keenly focused on growing loans and deposits along with maintaining our proven expense discipline as we invest for the future. Our key strengths, including our diverse, geographic footprint, combined with our relationship banking strategy, provide the foundation to continue to enhance shareholder value.”

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