Core Insights - Fifth Third Bancorp reported an increase in profit for the third quarter, indicating strong financial performance [1] - Comerica experienced a slight decline in earnings, reflecting challenges faced by the company [1] - Both regional lenders are preparing for a merger in an all-stock deal valued at $10.9 billion, which may reshape their market positions [1] Company Performance - Fifth Third Bancorp's profit growth suggests effective management and operational efficiency [1] - Comerica's earnings slip indicates potential weaknesses or market pressures affecting its profitability [1] Merger Implications - The $10.9 billion all-stock deal between Fifth Third Bancorp and Comerica signifies a strategic move to consolidate resources and enhance competitive advantage in the regional banking sector [1]

Core Viewpoint - Comerica Incorporated has reported its third quarter 2025 financial results, which are available on its Investor Relations website and will be filed on Form 8-K with the SEC [1][2]. Company Overview - Comerica Incorporated is a financial services company headquartered in Dallas, Texas, operating through three business segments: The Commercial Bank, The Retail Bank, and Wealth Management [3]. - It is one of the 25 largest commercial U.S. financial holding companies, with a focus on building relationships and supporting the success of individuals and businesses [3]. - As of September 30, 2025, Comerica reported total assets of $77.4 billion [3]. Strategic Developments - Due to a pending merger with Fifth Third Bancorp, Comerica will not conduct an earnings conference call or webcast for the third quarter results [2]. - The company continues to expand into new regions, including the Southeast Market in North Carolina and the Mountain West Market in Colorado [3].

[Executive Summary & Strategic Highlights](index=1&type=section&id=1.%20Executive%20Summary%20%26%20Strategic%20Highlights) [Third Quarter 2025 Performance Overview](index=1&type=section&id=1.1.%20Third%20Quarter%202025%20Performance%20Overview) Comerica reported Q3 2025 net income of **$176 million**, driven by deposit growth and stable net interest income, maintaining strong capital Q3 2025 Key Financial Results (in millions, except per share and ratio data) | Metric | 3rd Qtr '25 | 2nd Qtr '25 | 3rd Qtr '24 | | :----------------------------- | :---------- | :---------- | :---------- | | Net income | $176 | $199 | $184 | | Diluted earnings per common share | $1.35 | $1.42 | $1.33 | | Net interest income | $574 | $575 | $534 | | Noninterest income | $264 | $274 | $277 | | Noninterest expenses | $589 | $561 | $562 | | Average deposits | $62,735 | $61,246 | $63,896 | | Estimated CET1 capital ratio | 11.90 % | 11.99 % | 11.96 %| - The company increased share repurchases to **$150 million** in the quarter, contributing to capital strength[1](index=1&type=chunk) [Merger with Fifth Third Bancorp](index=1&type=section&id=1.2.%20Merger%20with%20Fifth%20Third%20Bancorp) Comerica announced an all-stock merger with Fifth Third Bancorp, pending approvals and expected to close by Q1 2026 - Fifth Third Bancorp will acquire Comerica in an all-stock transaction[3](index=3&type=chunk) - Comerica shareholders will receive **1.8663 Fifth Third shares** for each Comerica share[3](index=3&type=chunk) - The transaction is anticipated to close at the **end of the first quarter of 2026**, pending shareholder and regulatory approvals[3](index=3&type=chunk) [Financial Performance Analysis (Q3 2025 vs Q2 2025)](index=2&type=section&id=2.%20Financial%20Performance%20Analysis%20(Q3%202025%20vs%20Q2%202025)) [Balance Sheet Dynamics](index=2&type=section&id=2.1.%20Balance%20Sheet%20Dynamics) Loans and securities remained stable, with deposits increasing by **$1.5 billion** driven by interest-bearing accounts - Loans remained relatively stable at **$50.8 billion**[4](index=4&type=chunk) - Period-end unrealized losses on securities **decreased $251 million** to **$2.2 billion**[5](index=5&type=chunk) - Deposits **increased $1.5 billion** to **$62.7 billion**, with interest-bearing deposits **increasing $1.7 billion**[5](index=5&type=chunk) - Noninterest-bearing deposits **decreased $184 million**, comprising **37%** of total deposits (down from **38%** in the prior quarter)[5](index=5&type=chunk)[10](index=10&type=chunk) [Net Interest Income and Margin](index=2&type=section&id=2.2.%20Net%20Interest%20Income%20and%20Margin) Net interest income remained stable at **$574 million**, but net interest margin decreased by **7 bps** to **3.09%** due to deposit growth and pricing Net Interest Income and Margin Trends (in millions, except margin data) | Metric | 3rd Qtr '25 | 2nd Qtr '25 | Change (QoQ) | | :---------------- | :---------- | :---------- | :----------- | | Net interest income | $574 | $575 | $(1) | | Net interest margin | 3.09 % | 3.16 % | (7 bps) | - The average cost of interest-bearing deposits **increased 9 basis points** to **2.78%**, reflecting strategic growth and competitive environment[10](index=10&type=chunk) - Decrease in net interest margin was driven by growth in interest-bearing deposits and relationship-focused deposit pricing, as well as a reduction in the benefit from BSBY cessation, partially offset by a reduction in both short-term borrowings and medium- and long-term debt[10](index=10&type=chunk)[15](index=15&type=chunk) [Credit Quality](index=2&type=section&id=2.3.%20Credit%20Quality) Provision for credit losses decreased to **$22 million**, while net charge-offs increased and nonperforming assets rose Credit Quality Metrics (in millions, except ratio data) | Metric | 3rd Qtr '25 | 2nd Qtr '25 | Change (QoQ) | | :------------------------------------------ | :---------- | :---------- | :----------- | | Provision for credit losses | $22 | $44 | $(22) | | Net charge-offs | $32 | $28 | $4 | | Nonperforming assets (NPAs) | $260 | $249 | $11 | | NPAs/Total loans and foreclosed property | 0.51 % | 0.49 % | 0.02 pp | | Allowance for credit losses/Total loans | 1.43 % | 1.44 % | (0.01 pp) | - Criticized loans **decreased $88 million** to **$2.7 billion**, or **5.2%** of total loans[18](index=18&type=chunk) [Noninterest Income](index=2&type=section&id=2.4.%20Noninterest%20Income) Noninterest income decreased by **$10 million** to **$264 million**, driven by lower fiduciary and capital markets income Noninterest Income Breakdown (in millions) | Item | 3rd Qtr '25 | 2nd Qtr '25 | Change (QoQ) | | :-------------------------- | :---------- | :---------- | :----------- | | Total noninterest income | $264 | $274 | $(10) | | Fiduciary income | $51 | $57 | $(6) | | Capital markets income | $37 | $42 | $(5) | | Bank-owned life insurance income | $13 | $9 | $4 | [Noninterest Expenses](index=2&type=section&id=2.5.%20Noninterest%20Expenses) Noninterest expenses increased by **$28 million** to **$589 million**, primarily due to higher litigation and operational losses Noninterest Expenses Trends (in millions) | Item | 3rd Qtr '25 | 2nd Qtr '25 | Change (QoQ) | | :-------------------------- | :---------- | :---------- | :----------- | | Total noninterest expenses | $589 | $561 | $28 | | Other noninterest expenses | $36 | $7 | $29 | | Salaries and benefits expense | $353 | $358 | $(5) | - Other noninterest expenses included a **$13 million increase** in litigation-related expenses and an **$8 million increase** in operational losses[11](index=11&type=chunk) [Capital and Shareholder Returns](index=2&type=section&id=2.6.%20Capital%20and%20Shareholder%20Returns) Comerica maintained a strong **11.90% CET1 ratio**, returning **$241 million** to shareholders and issuing **$392 million** in preferred stock - Estimated common equity Tier 1 capital ratio was **11.90%**[8](index=8&type=chunk) - Returned a total of **$241 million** to common shareholders, comprising **$150 million** in share repurchases and **$91 million** in common stock dividends[11](index=11&type=chunk) - Issued **400,000 shares** of **6.875% Series B Preferred Stock**, resulting in net proceeds of approximately **$392 million**[11](index=11&type=chunk) [Business Segment Results](index=17&type=section&id=3.%20Business%20Segment%20Results) [Commercial Bank](index=17&type=section&id=3.1.%20Commercial%20Bank) Commercial Bank net income slightly decreased to **$235 million**, with stable net interest income and lower credit loss provision Commercial Bank Segment Performance (in millions) | Metric | 3rd Qtr '25 | 2nd Qtr '25 | | :-------------------------- | :---------- | :---------- | | Net income (loss) | $235 | $243 | | Net interest income (expense) | $453 | $453 | | Provision for credit losses | $14 | $48 | | Average loans | $43,141 | $43,146 | [Retail Bank](index=17&type=section&id=3.2.%20Retail%20Bank) Retail Bank net income decreased to **$71 million**, driven by lower net interest income and higher noninterest expenses Retail Bank Segment Performance (in millions) | Metric | 3rd Qtr '25 | 2nd Qtr '25 | | :-------------------------- | :---------- | :---------- | | Net income (loss) | $71 | $82 | | Net interest income (expense) | $240 | $245 | | Noninterest expenses | $172 | $167 | | Average deposits | $23,321 | $23,443 | [Wealth Management](index=17&type=section&id=3.3.%20Wealth%20Management) Wealth Management net income decreased to **$11 million**, primarily due to lower noninterest income and higher credit loss provision Wealth Management Segment Performance (in millions) | Metric | 3rd Qtr '25 | 2nd Qtr '25 | | :-------------------------- | :---------- | :---------- | | Net income (loss) | $11 | $30 | | Noninterest income | $69 | $76 | | Provision for credit losses | $6 | $(1) | | Average deposits | $3,860 | $3,576 | [Finance and Other](index=17&type=section&id=3.4.%20Finance%20and%20Other) Finance segment net loss improved to **$142 million**, while the 'Other' category moved to a **$1 million** net income Finance and Other Segment Performance (in millions) | Segment | 3rd Qtr '25 Net Income (Loss) | 2nd Qtr '25 Net Income (Loss) | | :-------- | :-------------------------- | :-------------------------- | | Finance | $(142) | $(148) | | Other | $1 | $(8) | [Consolidated Financial Statements](index=8&type=section&id=4.%20Consolidated%20Financial%20Statements) [Consolidated Financial Highlights](index=8&type=section&id=4.1.%20Consolidated%20Financial%20Highlights) Overview of Comerica's key financial metrics, including per share data, performance ratios, capital, and credit quality Consolidated Financial Highlights (Selected Metrics) (in millions, except per share and ratio data) | Metric | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :------------------------------------------ | :----------- | :----------- | :----------- | | Diluted earnings per common share | $1.35 | $1.42 | $1.33 | | Return on average common shareholders' equity | 10.20 % | 11.35 % | 10.88 % | | Common equity tier 1 capital ratio | 11.90 % | 11.99 % | 11.96 % | | Total loans (average, in millions) | $50,755 | $50,665 | $50,861 | | Total deposits (average, in millions) | $62,735 | $61,246 | $63,896 | | Net interest income (in millions) | $574 | $575 | $534 | | Net interest margin | 3.09 % | 3.16 % | 2.80 % | | Net charge-offs (in millions) | $32 | $28 | $11 | | Allowance for credit losses as % of total loans | 1.43 % | 1.44 % | 1.43 % | [Consolidated Balance Sheets](index=9&type=section&id=4.2.%20Consolidated%20Balance%20Sheets) Presents consolidated balance sheets, detailing assets, liabilities, and equity at key reporting dates Consolidated Balance Sheet Summary (in millions) | Item | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | Sep 30, 2024 | | :---------------------------------- | :----------- | :----------- | :----------- | :----------- | | Total assets | $77,376 | $77,988 | $79,297 | $79,663 | | Total loans (net) | $50,200 | $50,481 | $49,849 | $49,831 | | Total deposits | $62,596 | $60,003 | $63,811 | $63,077 | | Total liabilities | $69,947 | $71,128 | $72,754 | $72,297 | | Total shareholders' equity | $7,429 | $6,860 | $6,543 | $7,366 | [Consolidated Statements of Comprehensive Income](index=10&type=section&id=4.3.%20Consolidated%20Statements%20of%20Comprehensive%20Income) Details consolidated statements of comprehensive income, including interest income, expenses, and net income for Q3 2025 and 2024 Consolidated Statements of Comprehensive Income (Three Months Ended September 30, in millions, except per share data) | Item | 2025 | 2024 | | :-------------------------------------- | :--- | :--- | | Total interest income | $946 | $982 | | Total interest expense | $372 | $448 | | Net interest income | $574 | $534 | | Provision for credit losses | $22 | $14 | | Total noninterest income | $264 | $277 | | Total noninterest expenses | $589 | $562 | | Net income | $176 | $184 | | Diluted earnings per common share | $1.35 | $1.33 | [Consolidated Quarterly Statements of Comprehensive Income](index=11&type=section&id=4.4.%20Consolidated%20Quarterly%20Statements%20of%20Comprehensive%20Income) Detailed quarterly comparison of comprehensive income, highlighting changes in key income statement components for Q3 2025 vs Q2 2025 Consolidated Quarterly Statements of Comprehensive Income (Q3 2025 vs Q2 2025, in millions, except per share and percentage data) | Item | Q3 2025 | Q2 2025 | Change (Amount) | Change (Percent) | | :-------------------------------------- | :------ | :------ | :-------------- | :--------------- | | Total interest income | $946 | $931 | $15 | 2% | | Total interest expense | $372 | $356 | $16 | 5% | | Net interest income | $574 | $575 | $(1) | — | | Provision for credit losses | $22 | $44 | $(22) | (50%) | | Total noninterest income | $264 | $274 | $(10) | (4%) | | Total noninterest expenses | $589 | $561 | $28 | 5% | | Net income | $176 | $199 | $(23) | (12%) | | Diluted earnings per common share | $1.35 | $1.42 | $(0.07) | (5%) | [Analysis of Net Interest Income (Detailed)](index=14&type=section&id=4.5.%20Analysis%20of%20Net%20Interest%20Income%20(Detailed)) Detailed analysis of net interest income, breaking down average balances, interest income/expense, and rates for assets and liabilities Analysis of Net Interest Income (Three Months Ended September 30, 2025, in millions) | Item | Average Balance | Interest | Rate | | :-------------------------------------- | :-------------- | :------- | :----- | | Total loans | $50,755 | $779 | 6.09 % | | Total investment securities | $14,710 | $105 | 2.45 % | | Total earning assets | $71,220 | $946 | 5.10 % | | Total interest-bearing deposits | $39,812 | $280 | 2.78 % | | Total interest-bearing sources | $46,331 | $372 | 3.19 % | | Net interest income | | $574 | 1.91 % | | Net interest margin | | | 3.09 % | [Analysis of the Allowance for Credit Losses](index=12&type=section&id=4.6.%20Analysis%20of%20the%20Allowance%20for%20Credit%20Losses) Detailed analysis of allowance for credit losses, including balances, charge-offs, recoveries, and provision, presented quarterly Analysis of the Allowance for Credit Losses (in millions, except percentage data) | Item | 3rd Qtr '25 | 2nd Qtr '25 | 1st Qtr '25 | 4th Qtr '24 | 3rd Qtr '24 | | :------------------------------------------ | :---------- | :---------- | :---------- | :---------- | :---------- | | Balance at beginning of period (ACL) | $735 | $719 | $725 | $720 | $717 | | Total loan charge-offs | $45 | $31 | $32 | $23 | $23 | | Total recoveries | $13 | $3 | $6 | $7 | $12 | | Net loan charge-offs | $32 | $28 | $26 | $16 | $11 | | Provision for credit losses | $22 | $44 | $20 | $21 | $14 | | Balance at end of period (ACL) | $725 | $735 | $719 | $725 | $720 | | ACL as a percentage of total loans | 1.43 % | 1.44 % | 1.44 % | 1.44 % | 1.43 % | | Net loan charge-offs as % of avg total loans | 0.25 | 0.22 | 0.21 | 0.13 | 0.08 | [Nonperforming Assets](index=13&type=section&id=4.7.%20Nonperforming%20Assets) Detailed breakdown of nonperforming assets, including loans, foreclosed property, and nonaccrual loans, with asset quality ratios Nonperforming Assets Summary (in millions, except ratio data) | Item | 3rd Qtr '25 | 2nd Qtr '25 | 1st Qtr '25 | 4th Qtr '24 | 3rd Qtr '24 | | :------------------------------------------ | :---------- | :---------- | :---------- | :---------- | :---------- | | Total nonperforming loans | $258 | $248 | $301 | $308 | $250 | | Foreclosed property | $2 | $1 | $— | $— | $— | | Total nonperforming assets | $260 | $249 | $301 | $308 | $250 | | Nonperforming loans as % of total loans | 0.51 % | 0.48 % | 0.60 % | 0.61 % | 0.50 % | | Nonperforming assets as % of total loans and foreclosed property | 0.51 % | 0.49 % | 0.60 % | 0.61 % | 0.50 % | | Allowance for credit losses as a multiple of total nonperforming loans | 2.8x | 3.0x | 2.4x | 2.4x | 2.9x | | Loans past due 90 days or more and still accruing | $14 | $42 | $12 | $44 | $21 | [Consolidated Statements of Changes in Shareholders' Equity](index=16&type=section&id=4.8.%20Consolidated%20Statements%20of%20Changes%20in%20Shareholders'%20Equity) Presents consolidated statements of changes in shareholders' equity, detailing movements from net income, dividends, and share repurchases Consolidated Statements of Changes in Shareholders' Equity (Selected Items, in millions) | Item | Balance at Jun 30, 2025 | Net Income | Other Comprehensive Income, net of tax | Cash Dividends Declared on Common Stock | Purchase of Common Stock | Issuance of Preferred Stock | Balance at Sep 30, 2025 | | :-------------------------------------- | :---------------------- | :--------- | :------------------------------------- | :-------------------------------------- | :----------------------- | :------------------------ | :---------------------- | | Total Shareholders' Equity | $6,860 | $176 | $238 | $(91) | $(151) | $392 | $7,429 | [Non-GAAP Financial Measures and Regulatory Ratios](index=18&type=section&id=5.%20Non-GAAP%20Financial%20Measures%20and%20Regulatory%20Ratios) [Non-GAAP Financial Measures and Regulatory Ratios](index=18&type=section&id=5.1.%20Non-GAAP%20Financial%20Measures%20and%20Regulatory%20Ratios) Explains non-GAAP financial measures like CET1 and tangible common equity, providing reconciliations for capital adequacy evaluation - Non-GAAP measures like **Common Equity Tier 1 capital ratio** and **tangible common equity** are used to evaluate the adequacy of common equity and performance trends, reflecting adjustments commonly made by stakeholders[44](index=44&type=chunk) Non-GAAP Financial Measures and Regulatory Ratios (in millions, except per share data) | Metric | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :------------------------------------------ | :----------- | :----------- | :----------- | | Common equity tier 1 capital | $8,657 | $8,718 | $8,683 | | Tier 1 capital ratio | 12.44 % | 11.99 % | 12.51 % | | Common equity tier 1 capital ratio | 11.90 % | 11.99 % | 11.96 % | | Tangible common equity | $6,397 | $6,220 | $6,331 | | Tangible common equity ratio | 8.34 % | 8.04 % | 8.01 % | | Tangible common equity per share of common stock | $50.14 | $47.96 | $47.69 | [Additional Information](index=5&type=section&id=6.%20Additional%20Information) [Company Overview](index=5&type=section&id=6.1.%20Company%20Overview) Comerica Incorporated is a Dallas-based financial services company with three segments, operating across multiple U.S. states, Canada, and Mexico - Comerica Incorporated is a financial services company headquartered in **Dallas, Texas**[19](index=19&type=chunk) - The company is strategically aligned by three business segments: the **Commercial Bank**, the **Retail Bank**, and **Wealth Management**[19](index=19&type=chunk) - Comerica provides banking centers in **Arizona, California, Florida, Michigan, and Texas**, and is expanding into new regions like **North Carolina** and **Colorado**, also servicing **Canada** and **Mexico**[19](index=19&type=chunk) [Forward-Looking Statements](index=6&type=section&id=6.2.%20Forward-Looking%20Statements) Contains forward-looking statements on strategy and results, highlighting risks, especially regarding the Fifth Third merger and macroeconomic conditions - Forward-looking statements cover business strategy, goals, projected financial and operating results, and future capital uses[22](index=22&type=chunk) - Important factors that could cause actual results to differ materially include risks related to the merger with Fifth Third (e.g., realization of synergies, closing conditions, integration challenges), economic conditions, regulatory changes, and competitive pressures[23](index=23&type=chunk)[24](index=24&type=chunk) - The company undertakes no obligation to publicly update any forward-looking statement, except as required by law[24](index=24&type=chunk) [Media and Investor Contacts](index=7&type=section&id=6.3.%20Media%20and%20Investor%20Contacts) Provides contact information for media and investor relations inquiries - Media Contacts: **Nicole Hogan** and **Louis H. Mora**[25](index=25&type=chunk) - Investor Contacts: **Kelly Gage** and **Lindsey Baird**[25](index=25&type=chunk)

Fifth Third Bancorp (NASDAQ:FITB) will release earnings results for the third quarter, before the opening bell on Friday, Oct. 17.Analysts expect the Cincinnati, Ohio-based company to report quarterly earnings at 86 cents per share, up from 78 cents per share in the year-ago period. The consensus estimate for Fifth Third Bancorp’s quarterly revenue is $2.29 billion, compared to $2.14 billion a year earlier, according to data from Benzinga Pro.On Oct. 6, Fifth Third Bancorp agreed to merge with Comerica Inco ...

Group 1 - The announcement indicates that no stabilisation was carried out for the securities offered by CMA CMG S.A [2] - The securities consist of 4.875% fixed rate notes due on January 15, 2031, with an aggregate nominal amount of EUR 700 million [3] - The offer price for the securities is set at 100 [3] Group 2 - The stabilisation managers involved in the offering include BNP Paribas, CACIB, HSBC, ING, SG, BRED, CIC, CITI, NTX, and Santander [4] - The announcement clarifies that the securities are not being offered for sale in the United States and have not been registered under the United States Securities Act of 1933 [5]

Core Viewpoint - Comerica Incorporated (NYSE:CMA) is a leading financial services company focused on commercial banking, retail banking, and wealth management, primarily operating in the United States [1] Financial Performance Expectations - Comerica is set to release its quarterly earnings on October 17, 2025, with an estimated earnings per share (EPS) of $1.28 and projected revenue of approximately $844 million [2][6] - Analysts expect a 4% increase in revenues year-over-year, although earnings may decline due to rising expenses and a reduction in net interest income (NII) [2][6] Historical Performance - The company has historically surpassed earnings estimates in three of the last four quarters, indicating potential for another earnings beat [3][6] Financial Metrics - Comerica's price-to-earnings (P/E) ratio is approximately 14.31, indicating moderate market valuation of its earnings [4] - The price-to-sales ratio is about 2.08, reflecting the company's market value relative to its revenue [4] - The enterprise value to sales ratio stands at around 2.78, indicating how the company's sales are valued [4] Debt and Liquidity Ratios - The debt-to-equity ratio is approximately 1.27, showing the proportion of debt used to finance assets relative to shareholders' equity [5] - The current ratio is around 0.22, highlighting the company's ability to cover short-term liabilities with short-term assets [5]

Core Insights - Comerica Incorporated (CMA) is set to report its third-quarter 2025 results on October 17, with expectations of increased revenues but a decline in earnings compared to the previous year [1][11] Financial Performance Expectations - The Zacks Consensus Estimate for third-quarter 2025 earnings is $1.28 per share, reflecting a 6.6% decline from the year-ago quarter [2] - The consensus estimate for revenues is $843.6 million, indicating a 4% increase from the year-ago figure [3][11] Factors Influencing Earnings - Lending activity remained decent in Q3 2025, supported by improving macroeconomic conditions, despite uncertainties surrounding tariff policies [4] - Average loans are expected to remain flat sequentially, with management projecting slight pressure on earlier guidance of exceeding $50.7 billion [5] - Average earning assets are estimated to have grown modestly to $71.1 billion, a 1% increase sequentially [6] Net Interest Income (NII) and Non-Interest Income - The consensus estimate for NII is $569.4 million, indicating a 1% decline from the prior quarter [7] - Non-interest income is expected to be relatively flat, with capital market fees projected to rise by 5% to $44.1 million [10][11] Deposits and Service Charges - Average deposits rose 2.3% to $62.6 billion, exceeding earlier guidance, which is likely to boost service charges on deposits to an estimated $47.3 million, a 0.7% increase from the prior quarter [12] Expenses and Asset Quality - Higher expenses are anticipated due to increased compensation costs and lower gains on real estate sales, with non-interest expenses expected to rise slightly from $561 million [14][15] - The Zacks Consensus Estimate for non-performing loans is $249 million, indicating a marginal rise from the previous quarter [16] Earnings Prediction Model - The model indicates low chances of CMA beating earnings estimates, with an Earnings ESP of -1.92% and a Zacks Rank of 3 [17]

Core Viewpoint - The merger between Comerica Incorporated and Fifth Third Bank is expected to create the 9th largest bank in America with $288 billion in assets, positioning the combined entity as a significant player in the banking sector [1]. Company Analysis - Comerica's shares reached an all-time high following the merger announcement, indicating positive market sentiment towards the deal [1]. - Historically, Comerica has underperformed, with its stock price stagnating at $70, down from $99 seven years ago and three years ago [2]. - The merger is seen as a strategic move to enhance Comerica's market position by combining its extensive branch network with Fifth Third's strong reputation, potentially creating a "super regional" bank [2]. Industry Context - The merger reflects a shift in the regulatory environment, suggesting that large bank consolidations are becoming more acceptable under the current administration compared to previous ones [2]. - The combined bank is expected to have a strong presence in the middle part of the country, which is experiencing significant growth, particularly in sectors like data centers [2]. - The merger is anticipated to have a multiplier effect on local economies, as the establishment of data centers can lead to further business developments in surrounding areas [2].

Group 1: M&A Activity Overview - U.S. bank M&A activity reached a four-year high in Q3 2023, with 52 bank deals announced, the largest quarterly number since Q3 2021 [2] - The aggregate deal value for Q3 was $16.63 billion, the highest since Q4 2021, with PNC's $4.1 billion acquisition of FirstBank accounting for 79% of September's total [3][4] - The largest bank deal of the year is Fifth Third's acquisition of Comerica for $10.9 billion, which will create the ninth-largest U.S.-based retail bank with approximately $288 billion in assets [4] Group 2: Texas Market Dynamics - Texas remains the most targeted state for bank mergers and acquisitions, driven by population and business growth, leading to increased M&A activity [6] - Notable transactions in Texas include Huntington Bank's acquisition of Veritex Holdings for $1.9 billion and Glacier Bank's acquisition of Guaranty Bancorp for $476.2 million [6] Group 3: Comerica's Strategic Moves - Comerica faced pressure from activist investor HoldCo Asset Management to sell itself to a larger bank due to perceived poor performance [7] - Comerica's executives have committed to revenue-boosting efforts and a thorough review of expenses [7] - Analysts suggest that Fifth Third's size and strength may mitigate Comerica's legacy issues [8]

Core Viewpoint - Monteverde & Associates PC is investigating the fairness of the proposed sale of Comerica Incorporated to Fifth Third Bancorp, where Comerica shareholders will receive 1.8663 Fifth Third shares for each Comerica share [1]. Group 1: Company Overview - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report and has recovered millions for shareholders [1]. - The firm is located in the Empire State Building, New York City, and specializes in class action securities litigation [2]. Group 2: Legal Action and Shareholder Recovery - The firm has a successful track record in trial and appellate courts, including the U.S. Supreme Court, focusing on recovering money for shareholders [2]. - The firm encourages shareholders with concerns regarding the transaction to seek additional information free of charge [3].