Comerica (CMA) Misses Q1 EPS by 5c
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Comerica Adjusts Fourth Quarter And Full Year 2015 Results
February 16, 2016 4:51 PM ESTDALLAS, Feb. 16, 2016 /PRNewswire/ --Â Comerica Incorporated (NYSE: CMA) today announced that it is adjusting its fourth quarter and full year 2015 financial results, from those reported on January 19, 2016, as a result of recently discovered irregularities with a single customer loan relationship in the Retail Bank. Following the discovery, Comerica increased its provision for credit losses, recorded a charge-off for the amount in question, and decreased incentive compensation expense based on the revised results, effective as of December 31, 2015.
Comerica had approximately $26 million outstanding from an Arizona-based sales and appraisal company at December 31, 2015.... More
