Financial News

Comerica Adjusts Fourth Quarter And Full Year 2015 Results
Revision Due to Recently Discovered Isolated Event Associated with Single Customer Loan
PR Newswire

DALLAS, Feb. 16, 2016 /PRNewswire/ -- 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. Following an extensive analysis of the situation, Comerica has determined that there was significant doubt as to collectibility of the loan and, given the unique irregularities, it is believed to be an isolated incident.

Comerica Chairman and Chief Executive Officer Ralph W. Babb, Jr. said, "Our investigation is ongoing and we are assessing all circumstances surrounding this matter. We remain confident in our systems and processes and will vigorously prosecute all legal options available to us to recover on this isolated loss."

The adjustments will reduce Comerica's 2015 net income by $14 million after-tax, or 8 cents per share, from $535 million, or $2.92 per share, to $521 million, or $2.84 per share. Adjusted fourth quarter 2015 net income was $116 million, or 64 cents per share, compared to previously reported net income of $130 million, or 71 cents per share.

The following table summarizes the impact of the adjustments on the previously reported financial results.



                                                             December 31, 2015
                                                             -----------------

                                         Quarter Ended                                                  Year Ended
                                         -------------                                                  ----------

    (dollar amounts in
     millions, except
     per share data)    As Reported                  As Adjusted               As Reported        As Adjusted
    ------------------  -----------                  -----------               -----------        -----------


    Provision for
     credit losses                               $35                                                           $60       $122       $147

    Noninterest
     expenses                        489                                                      486                  1,845      1,842

    Salaries and
     benefits expense                265                                                      262                  1,012      1,009

    Income before
     income taxes                    179                                                      157                    772        750

    Provision for
     income taxes                     49                                                       41                    237        229

    Net income                       130                                                      116                    535        521

    Net income
     attributable to
     common shares                   129                                                      115                    529        515

    Diluted income per
     common share                   0.71                                                     0.64                   2.92       2.84

    Total shareholders'
     equity at year end            7,574                                                    7,560

    Basel III common
     equity Tier 1
     capital ratio                10.53%               (a)                                10.54%

    Tangible common
     equity ratio (b)              9.72%                                                   9.70%
    -----------------               ----                                                     ----

               (a)         Estimated as of January 19,2016.
                        Prior to the adjustments, the final
                       Basel III common equity Tier 1 ratio
                                    would have been 10.56%.

    (b)                See Reconciliation of Non-GAAP
                       Financial Measures.

Comerica's Annual Report on Form 10-K will reflect these adjustments when it is filed with the U.S. Securities and Exchange Commission. The revisions primarily impacted the Retail Bank and Other Markets. Revised fourth quarter and full year 2015 financial information is included with this release.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three major business segments: The Business Bank, The Retail Bank and Wealth Management. Comerica focuses on relationships and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.

This press release contains both financial measures based on accounting principles generally accepted in the United States (GAAP) and non-GAAP based financial measures, which are used where management believes it to be helpful in understanding Comerica's results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as a reconciliation to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Forward-looking Statements

Any statements in this news release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "contemplates," "feels," "expects," "estimates," "seeks," "strives," "plans," "intends," "outlook," "forecast," "position," "target," "mission," "assume," "achievable," "potential," "strategy," "goal," "aspiration," "opportunity," "initiative," "outcome," "continue," "remain," "maintain," "on course," "trend," "objective," "looks forward," "projects," "models" and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "might," "can," "may" or similar expressions, as they relate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated on the beliefs and assumptions of Comerica's management based on information known to Comerica's management as of the date of this news release and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives of Comerica's management for future or past operations, products or services, and forecasts of Comerica's revenue, earnings or other measures of economic performance, including statements of profitability, business segments and subsidiaries, estimates of credit trends and global stability. Such statements reflect the view of Comerica's management as of this date with respect to future events and are subject to risks and uncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica's actual results could differ materially from those discussed. Factors that could cause or contribute to such differences are changes in general economic, political or industry conditions; changes in monetary and fiscal policies, including changes in interest rates; changes in regulation or oversight; Comerica's ability to maintain adequate sources of funding and liquidity; the effects of more stringent capital or liquidity requirements; declines or other changes in the businesses or industries of Comerica's customers, including the energy industry; operational difficulties, failure of technology infrastructure or information security incidents; reliance on other companies to provide certain key components of business infrastructure; factors impacting noninterest expenses which are beyond Comerica's control; changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing; changes in Comerica's credit rating; unfavorable developments concerning credit quality; the interdependence of financial service companies; the implementation of Comerica's strategies and business initiatives; Comerica's ability to utilize technology to efficiently and effectively develop, market and deliver new products and services; competitive product and pricing pressures among financial institutions within Comerica's markets; changes in customer behavior; any future strategic acquisitions or divestitures; management's ability to maintain and expand customer relationships; management's ability to retain key officers and employees; the impact of legal and regulatory proceedings or determinations; the effectiveness of methods of reducing risk exposures; the effects of terrorist activities and other hostilities; the effects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods; changes in accounting standards and the critical nature of Comerica's accounting policies. Comerica cautions that the foregoing list of factors is not exclusive. For discussion of factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. In particular, please refer to "Item 1A. Risk Factors" beginning on page 12 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2014. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this news release or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.



    CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)

    Comerica Incorporated
     and Subsidiaries


                                                        Three Months Ended                  Years Ended
                                                        ------------------

                                            December 31,     September 30,   December 31,     December 31,
                                                                                              ------------

    (in millions, except
     per share data)                                2015                2015           2014          2015  2014
    --------------------                            ----                ----           ----          ----  ----

    PER COMMON SHARE AND
     COMMON STOCK DATA

    Diluted net income                                                $0.64                       $0.74           $0.80                  $2.84   $3.16

    Cash dividends
     declared                                       0.21                              0.21          0.20            0.83           0.79


    Average diluted
     shares (in
     thousands)                                  179,197                           180,714       183,728         181,104        185,474
    ---------------                              -------                           -------       -------         -------        -------

    KEY RATIOS

    Return on average
     common shareholders'
     equity                                        6.08%                            7.19%        7.96%          6.91%         8.05%

    Return on average
     assets                                         0.64                              0.76          0.86            0.74           0.89

    Common equity tier 1
     risk-based capital
     ratio (a)                                     10.54                             10.51           n/a

    Tier 1 common risk-
     based capital ratio
     (b)                                             n/a                              n/a        10.50

    Tier 1 risk-based
     capital ratio (a)                             10.54                             10.51         10.50

    Total risk-based
     capital ratio (a)                             12.69                             12.82         12.51

    Leverage ratio (a)                             10.22                             10.28         10.35

    Tangible common
     equity ratio (b)                               9.70                              9.91          9.85
    -----------------                               ----                              ----          ----

    AVERAGE BALANCES

    Commercial loans                              31,219                            31,900        30,391          31,501         29,715

    Real estate
     construction loans                            1,961                             1,833         1,920           1,884          1,909

    Commercial mortgage
     loans                                         8,842                             8,691         8,609           8,697          8,706

    Lease financing                                  750                               788           818             783            834

    International loans                            1,402                             1,401         1,455           1,441          1,376

    Residential mortgage
     loans                                         1,896                             1,882         1,821           1,878          1,778

    Consumer loans                                 2,478                             2,477         2,347           2,444          2,270
                                                   -----                             -----         -----           -----

    Total loans                                   48,548                            48,972        47,361          48,628         46,588


    Earning assets                                66,818                            66,191        64,453          65,129         61,560

    Total assets                                  71,907                            71,333        69,307          70,247         66,336


    Noninterest-bearing
     deposits                                     29,627                            28,623        27,504          28,087         25,019

    Interest-bearing
     deposits                                     30,109                            30,517        30,256          30,239         29,765
                                                  ------                            ------        ------          ------         ------

    Total deposits                                59,736                            59,140        57,760          58,326         54,784


    Common shareholders'
     equity                                        7,613                             7,559         7,518           7,534          7,373
    --------------------                           -----                             -----         -----           -----          -----

    NET INTEREST INCOME
     (fully taxable
     equivalent basis)

    Net interest income                                                $434                        $423            $416                 $1,693  $1,659

    Net interest margin                            2.58%                            2.54%        2.57%          2.60%         2.70%
    -------------------                             ----                              ----          ----            ----           ----

    CREDIT QUALITY

    Total nonperforming
     assets                                                            $391                        $381            $300


    Loans past due 90
     days or more and
     still accruing                                   17                                 5             5


    Net loan charge-offs                              51                                23             1                 $100               $25


    Allowance for loan
     losses                                          634                               622           594

    Allowance for credit
     losses on lending-
     related commitments                              45                                48            41
                                                     ---                               ---           ---

    Total allowance for
     credit losses                                   679                               670           635


    Allowance for loan
     losses as a
     percentage of total
     loans                                         1.29%                            1.27%        1.22%

    Net loan charge-offs
     as a percentage of
     average total loans                            0.42                              0.19          0.01           0.21%         0.05%

    Nonperforming assets
     as a percentage of
     total loans and
     foreclosed property                            0.80                              0.78          0.62

    Allowance for loan
     losses as a
     percentage of total
     nonperforming loans                             167                               169           205
    --------------------                             ---                               ---           ---

                     Basel III rules became effective
                              on January 1, 2015, with
                          transitional provisions. All
                         prior period data is based on
             (a)                        Basel I rules.

    (b)              See Reconciliation of Non-GAAP
                     Financial Measures.

    n/a - not applicable.



     CONSOLIDATED BALANCE SHEETS

     Comerica Incorporated and
      Subsidiaries


                                          December 31, September 30,      December 31,

    (in millions, except share data)              2015               2015           2014
    -------------------------------               ----               ----           ----

                                          (unaudited)   (unaudited)

    ASSETS

    Cash and due from banks                                       $1,157                   $1,101   $1,026


    Interest-bearing deposits with banks         4,990                            6,099      5,045

    Other short-term investments                   113                              107         99


    Investment securities available-for-
     sale                                       10,519                            8,749      8,116

    Investment securities held-to-
     maturity                                    1,981                            1,863      1,935


    Commercial loans                            31,659                           31,777     31,520

    Real estate construction loans               2,001                            1,874      1,955

    Commercial mortgage loans                    8,977                            8,787      8,604

    Lease financing                                724                              751        805

    International loans                          1,368                            1,382      1,496

    Residential mortgage loans                   1,870                            1,880      1,831

    Consumer loans                               2,485                            2,491      2,382
    --------------                               -----                            -----      -----

    Total loans                                 49,084                           48,942     48,593

    Less allowance for loan losses               (634)                           (622)     (594)
    ------------------------------                ----                             ----       ----

    Net loans                                   48,450                           48,320     47,999


    Premises and equipment                         550                              541        532

    Accrued income and other assets              4,117                            4,232      4,434
    -------------------------------              -----                            -----      -----

    Total assets                                                 $71,877                  $71,012  $69,186
    ------------                                                 -------                  -------  -------


    LIABILITIES AND SHAREHOLDERS' EQUITY

    Noninterest-bearing deposits                                 $30,839                  $28,697  $27,224


    Money market and interest-bearing
     checking deposits                          23,532                           23,948     23,954

    Savings deposits                             1,898                            1,853      1,752

    Customer certificates of deposit             3,552                            4,126      4,421

    Foreign office time deposits                    32                              144        135
    ----------------------------                   ---                              ---        ---

    Total interest-bearing deposits             29,014                           30,071     30,262
    -------------------------------             ------                           ------     ------

    Total deposits                              59,853                           58,768     57,486


    Short-term borrowings                           23                              109        116

    Accrued expenses and other
     liabilities                                 1,383                            1,413      1,507

    Medium- and long-term debt                   3,058                            3,100      2,675
    --------------------------                   -----                            -----      -----

    Total liabilities                           64,317                           63,390     61,784


    Common stock - $5 par value:

    Authorized - 325,000,000 shares

    Issued - 228,164,824 shares                  1,141                            1,141      1,141

    Capital surplus                              2,173                            2,165      2,188

    Accumulated other comprehensive loss         (429)                           (345)     (412)

    Retained earnings                            7,084                            7,007      6,744

    Less cost of common stock in treasury
     -52,457,113 shares at 12/31/15;
     51,010,418 shares at 9/30/15 and
     49,146,225 shares at 12/31/14             (2,409)                         (2,346)   (2,259)
    -------------------------------------       ------                           ------     ------

    Total shareholders' equity                   7,560                            7,622      7,402
    --------------------------                   -----                            -----      -----

    Total liabilities and shareholders'
     equity                                                      $71,877                  $71,012  $69,186
    -----------------------------------                          -------                  -------  -------



    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)

    Comerica Incorporated
     and Subsidiaries


                                                    Three Months Ended                 Years Ended

                                                     December 31,                 December 31,
                                                     ------------                 ------------

    (in millions, except
     per share data)                               2015                 2014        2015              2014
    --------------------                           ----                 ----        ----              ----

    INTEREST INCOME

    Interest and fees on
     loans                                                             $395                         $383                  $1,551 $1,525

    Interest on investment
     securities                                      56                        51                             216     211

    Interest on short-
     term investments                                 6                         4                              17      14
    ------------------                              ---                       ---                             ---     ---

    Total interest income                           457                       438                           1,784   1,750

    INTEREST EXPENSE

    Interest on deposits                             10                        12                              43      45

    Interest on medium-
     and long-term debt                              14                        11                              52      50
    -------------------                             ---                       ---                             ---     ---

    Total interest expense                           24                        23                              95      95
    ----------------------                          ---                       ---                             ---     ---

    Net interest income                             433                       415                           1,689   1,655

    Provision for credit
     losses                                          60                         2                             147      27
    --------------------                            ---                       ---                             ---     ---

    Net interest income
     after provision for
     credit losses                                  373                       413                           1,542   1,628

    NONINTEREST INCOME

    Card fees                                        77                        24                             290      92

    Service charges on
     deposit accounts                                55                        53                             223     215

    Fiduciary income                                 45                        47                             187     180

    Commercial lending
     fees                                            30                        29                              99      98

    Letter of credit fees                            14                        14                              53      57

    Bank-owned life
     insurance                                       11                         8                              40      39

    Foreign exchange
     income                                          11                        10                              40      40

    Brokerage fees                                    4                         4                              17      17

    Net securities losses                             -                        -                            (2)      -

    Other noninterest
     income                                          23                        36                             103     130
    -----------------                               ---                       ---                             ---     ---

    Total noninterest
     income                                         270                       225                           1,050     868

    NONINTEREST EXPENSES

    Salaries and benefits
     expense                                        262                       245                           1,009     980

    Outside processing fee
     expense                                         83                        33                             332     122

    Net occupancy expense                            41                        46                             159     171

    Equipment expense                                14                        14                              53      57

    Software expense                                 26                        23                              99      95

    FDIC insurance expense                           10                         8                              37      33

    Advertising expense                               7                         7                              24      23

    Litigation-related
     expense                                          -                        -                           (32)      4

    Gain on debt
     redemption                                       -                        -                              -   (32)

    Other noninterest
     expenses                                        43                        43                             161     173
    -----------------                               ---                       ---                             ---     ---

    Total noninterest
     expenses                                       486                       419                           1,842   1,626
    -----------------                               ---                       ---                           -----   -----

    Income before income
     taxes                                          157                       219                             750     870

    Provision for income
     taxes                                           41                        70                             229     277
    --------------------                            ---                       ---                             ---     ---

    NET INCOME                                      116                       149                             521     593

    Less income allocated
     to participating
     securities                                       1                         1                               6       7
    ---------------------                           ---                       ---                             ---     ---

    Net income
     attributable to
     common shares                                                     $115                         $148                    $515   $586
    ----------------                                                   ----                         ----                    ----   ----

    Earnings per common
     share:

    Basic                                                             $0.65                        $0.83                   $2.93  $3.28

    Diluted                                        0.64                      0.80                            2.84    3.16


    Comprehensive income                             31                        54                             504     572


    Cash dividends
     declared on common
     stock                                           37                        36                             148     143

    Cash dividends
     declared per common
     share                                         0.21                      0.20                            0.83    0.79
    --------------------                           ----                      ----                            ----    ----



    CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)

    Comerica Incorporated and Subsidiaries


                                               Fourth     Third     Second     First     Fourth                    Fourth Quarter 2015 Compared To:


                                               Quarter    Quarter   Quarter   Quarter    Quarter     Third Quarter 2015                Fourth Quarter 2014

    (in millions, except
     per share data)                               2015       2015       2015        2015       2014        Amount      Percent                 Amount      Percent
    --------------------                           ----       ----       ----        ----       ----       ------      -------                  ------     -------

    INTEREST INCOME

    Interest and fees on
     loans                                                   $395                            $390                       $388                                 $378               $383                           $5             1%        $12       3%

    Interest on investment
     securities                                      56                   54                    53             53                       51                               2           6                  5              12

    Interest on short-
     term investments                                 6                    4                     3              4                        4                               2          19                  2               8
    ------------------                              ---                  ---                   ---            ---                      ---                             ---         ---                ---             ---

    Total interest income                           457                  448                   444            435                      438                               9           2                 19               4

    INTEREST EXPENSE

    Interest on deposits                             10                   11                    11             11                       12                             (1)        (3)               (2)            (7)

    Interest on medium-
     and long-term debt                              14                   15                    12             11                       11                             (1)        (6)                 3              21
    -------------------                             ---                  ---                   ---            ---                      ---                             ---         ---                ---             ---

    Total interest expense                           24                   26                    23             22                       23                             (2)        (4)                 1               7
    ----------------------                          ---                  ---                   ---            ---                      ---                             ---         ---                ---             ---

    Net interest income                             433                  422                   421            413                      415                                 $11                 3                     $18         4

    Provision for credit
     losses                                          60                   26                    47             14                        2                              34                 N/M                58            N/M
    --------------------                            ---                  ---                   ---            ---                      ---                             ---                 ---               ---            ---

    Net interest income
     after provision                                373                  396                   374            399                      413                            (23)        (6)              (40)           (10)

    for credit losses

    NONINTEREST INCOME

    Card fees                                        77                   74                    72             67                       24                               3           3                 53                    N/M

    Service charges on
     deposit accounts                                55                   57                    56             55                       53                             (2)        (3)                 2               4

    Fiduciary income                                 45                   47                    48             47                       47                             (2)        (4)               (2)            (4)

    Commercial lending
     fees                                            30                   22                    22             25                       29                               8          35                  1               5

    Letter of credit fees                            14                   13                    13             13                       14                               1           2                  -                     -

    Bank-owned life
     insurance                                       11                   10                    10              9                        8                               1           1                  3              18

    Foreign exchange
     income                                          11                   10                     9             10                       10                               1           5                  1              11

    Brokerage fees                                    4                    5                     4              4                        4                             (1)       (12)                 -                     -

    Net securities losses                             -                   -                    -           (2)                       -                              -                N/M                 -             -

    Other noninterest
     income                                          23                   26                    27             27                       36                             (3)        (7)              (13)           (33)
    -----------------                               ---                  ---                   ---            ---                      ---                             ---         ---                ---             ---

    Total noninterest
     income                                         270                  264                   261            255                      225                               6           2                 45              20

    NONINTEREST EXPENSES

    Salaries and benefits
     expense                                        262                  243                   251            253                      245                              19           8                 17               7

    Outside processing fee
     expense                                         83                   86                    86             77                       33                             (3)        (5)                50                    N/M

    Net occupancy expense                            41                   41                    39             38                       46                               -                  -               (5)          (10)

    Equipment expense                                14                   13                    13             13                       14                               1           1                  -                     -

    Software expense                                 26                   26                    24             23                       23                               -                  -                 3              9

    FDIC insurance expense                           10                    9                     9              9                        8                               1          24                  2              31

    Advertising expense                               7                    6                     5              6                        7                               1          13                  -                     -

    Litigation-related
     expense                                          -                 (3)                 (30)             1                        -                              3                 N/M                 -             -

    Other noninterest
     expenses                                        43                   40                    39             39                       43                               3           8                  -                     -
    -----------------                               ---                  ---                   ---            ---                      ---                             ---         ---                ---                   ---

    Total noninterest
     expenses                                       486                  461                   436            459                      419                              25           5                 67              16
    -----------------                               ---                  ---                   ---            ---                      ---                             ---         ---                ---             ---

    Income before income
     taxes                                          157                  199                   199            195                      219                            (42)       (21)              (62)           (29)

    Provision for income
     taxes                                           41                   63                    64             61                       70                            (22)       (35)              (29)           (41)
    --------------------                            ---                  ---                   ---            ---                      ---                             ---         ---                ---             ---

    NET INCOME                                      116                  136                   135            134                      149                            (20)       (15)              (33)           (23)

    Less income allocated
     to participating
     securities                                       1                    2                     1              2                        1                             (1)       (14)                 -                     -
    ---------------------                           ---                  ---                   ---            ---                      ---                             ---         ---                ---                   ---

    Net income
     attributable to
     common shares                                           $115                            $134                       $134                                 $132               $148                        $(19)         (15)%      $(33)   (23)%
    ----------------                                         ----                            ----                       ----                                 ----               ----                         ----           ----        ----     ----

    Earnings per common share:

    Basic                                                   $0.65                           $0.76                      $0.76                                $0.75              $0.83                      $(0.11)         (14)%    $(0.18)   (22)%

    Diluted                                        0.64                 0.74                  0.73           0.73                     0.80                          (0.10)       (14)            (0.16)           (20)


    Comprehensive income                             31                  187                   109            176                       54                           (156)       (83)              (23)           (43)


    Cash dividends
     declared on common
     stock                                           37                   37                    37             36                       36                               -                  -                 1              3

    Cash dividends
     declared per common
     share                                         0.21                 0.21                  0.21           0.20                     0.20                               -                  -              0.01              5
    --------------------                           ----                 ----                  ----           ----                     ----                             ---                ---              ----            ---
    N/M - not meaningful



    ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)

    Comerica Incorporated and
     Subsidiaries


                                                                                                     2015               2014
                                                                                                     ----               ----

    (in millions)                                          4th Qtr        3rd Qtr         2nd Qtr    1st Qtr          4th Qtr
    ------------                                           -------        -------         -------    -------          -------


    Balance at beginning of period                                               $622                           $618                    $601            $594      $592


    Loan charge-offs:

    Commercial                                                   73                               30               17               19               8

    Commercial mortgage                                           1                                -               2                -              2

    Lease financing                                               -                               -               1                -              -

    International                                                 -                               1               11                2               6

    Residential mortgage                                          -                               -               1                -              1

    Consumer                                                      2                                3                3                2               3
    --------                                                    ---                              ---              ---              ---             ---

    Total loan charge-offs                                       76                               34               35               23              20


    Recoveries on loans previously
     charged-off:

    Commercial                                                    6                                8               10                9               6

    Real estate construction                                      -                               -               1                -              2

    Commercial mortgage                                          11                                2                5                3              10

    Residential mortgage                                          1                                -               -               1               -

    Consumer                                                      7                                1                1                2               1
    --------                                                    ---                              ---              ---              ---             ---

    Total recoveries                                             25                               11               17               15              19
    ----------------                                            ---                              ---              ---              ---             ---

    Net loan charge-offs                                         51                               23               18                8               1

    Provision for loan losses                                    63                               28               35               16               4

    Foreign currency translation
     adjustment                                                   -                             (1)               -             (1)            (1)
    ----------------------------                                ---                             ---              ---             ---             ---

    Balance at end of period                                                     $634                           $622                    $618            $601      $594
    ------------------------                                                     ----                           ----                    ----            ----      ----


    Allowance for loan losses as a
     percentage of total loans                                1.29%                           1.27%           1.24%           1.22%          1.22%


    Net loan charge-offs as a
     percentage of average total loans                         0.42                             0.19             0.15             0.07            0.01
    ----------------------------------                         ----                             ----             ----             ----            ----



    ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                                                     2015               2014
                                                                                                     ----               ----

    (in millions)                                          4th Qtr        3rd Qtr         2nd Qtr    1st Qtr          4th Qtr
    ------------                                           -------        -------         -------    -------          -------


    Balance at beginning of period                                                $48                            $50                     $39             $41       $43

    Less: Charge-offs on lending-
     related commitments (a)                                      -                               -               1                -              -

    Add: Provision for credit losses
     on lending-related commitments                             (3)                             (2)              12              (2)            (2)
    --------------------------------                            ---                              ---              ---              ---             ---

    Balance at end of period                                                      $45                            $48                     $50             $39       $41
    ------------------------                                                      ---                            ---                     ---             ---       ---


    Unfunded lending-related
     commitments sold                                             $                 -                       $     -                    $12              $1     $   -
    ------------------------                                    ---               ---                     ---   ---                    ---             ---   --- ---

    (a) Charge-offs result from the
     sale of unfunded lending-
     related commitments.



    CONSOLIDATED STATISTICAL DATA (unaudited)

    Comerica Incorporated and
     Subsidiaries


                                              December 31, September 30,         June 30,    March 31,    December 31,

    (in millions, except per
     share data)                                      2015                  2015        2015         2015                 2014
    ------------------------                          ----                  ----        ----         ----                 ----


    Commercial loans:

    Floor plan                                                           $3,939                                      $3,538               $3,840             $3,544  $3,790

    Other                                           27,720                           28,239                           28,883      28,547             27,730
    -----                                           ------                           ------                           ------      ------             ------

    Total commercial loans                          31,659                           31,777                           32,723      32,091             31,520

    Real estate construction
     loans                                           2,001                            1,874                            1,795       1,917              1,955

    Commercial mortgage loans                        8,977                            8,787                            8,674       8,558              8,604

    Lease financing                                    724                              751                              786         792                805

    International loans                              1,368                            1,382                            1,420       1,433              1,496

    Residential mortgage
     loans                                           1,870                            1,880                            1,865       1,859              1,831

    Consumer loans:

    Home equity                                      1,720                            1,714                            1,682       1,678              1,658

    Other consumer                                     765                              777                              796         744                724
    --------------                                     ---                              ---                              ---         ---                ---

    Total consumer loans                             2,485                            2,491                            2,478       2,422              2,382
    --------------------                             -----                            -----                            -----       -----              -----

    Total loans                                                         $49,084                                     $48,942              $49,741            $49,072 $48,593
    -----------                                                         -------                                     -------              -------            ------- -------


    Goodwill                                                               $635                                        $635                 $635               $635    $635

    Core deposit intangible                             10                               10                               11          12                 13

    Other intangibles                                    4                                4                                4           3                  2


    Common equity tier 1
     capital (a)                                     7,350                            7,327                            7,280       7,230                n/a

    Tier 1 common capital (b)                          n/a                             n/a                             n/a        n/a             7,169

    Risk-weighted assets (a)                        69,731                           69,718                           69,967      69,514             68,273


    Common equity tier 1
     risk-based capital
     ratio (a)                                      10.54%                          10.51%                          10.40%     10.40%               n/a

    Tier 1 common risk-based
     capital ratio (b)                                 n/a                             n/a                             n/a        n/a            10.50%

    Tier 1 risk-based
     capital ratio (a)                               10.54                            10.51                            10.40       10.40              10.50

    Total risk-based capital
     ratio (a)                                       12.69                            12.82                            12.38       12.35              12.51

    Leverage ratio (a)                               10.22                            10.28                            10.56       10.53              10.35

    Tangible common equity
     ratio (b)                                        9.70                             9.91                             9.92        9.97               9.85


    Common shareholders'
     equity per share of
     common stock                                                        $43.03                                      $43.02               $42.18             $42.12  $41.35

    Tangible common equity
     per share of common
     stock (b)                                       39.33                            39.36                            38.53       38.47              37.72

    Market value per share
     for the quarter:

    High                                             47.44                            52.93                            53.45       47.94              50.14

    Low                                              39.52                            40.01                            44.38       40.09              42.73

    Close                                            41.83                            41.10                            51.32       45.13              46.84


    Quarterly ratios:

    Return on average common
     shareholders' equity                            6.08%                           7.19%                           7.21%      7.20%             7.96%

    Return on average assets                          0.64                             0.76                             0.79        0.78               0.86

    Efficiency ratio (c)                             69.11                            67.08                            63.68       68.50              65.26


    Number of banking centers                          477                              477                              477         482                481


    Number of employees -
     full time equivalent                            8,880                            8,941                            8,901       8,831              8,876
    ---------------------                            -----                            -----                            -----       -----              -----

                    Basel III rules became effective
                     January 1, 2015, with
                     transitional provisions. All
                     prior period data is based on
    (a)              Basel I rules.

    (b)              See Reconciliation of Non-GAAP
                     Financial Measures.

                    Noninterest expenses as a
                     percentage of the sum of net
                     interest income (FTE) and
                     noninterest income excluding net
    (c)              securities gains (losses).

    n/a - not applicable.



    PARENT COMPANY ONLY BALANCE SHEETS (unaudited)

    Comerica Incorporated


                                                  December 31, September 30,     December 31,

    (in millions, except share
     data)                                                2015              2015           2014
    --------------------------                            ----              ----           ----


    ASSETS

    Cash and due from
     subsidiary bank                                                         $4                       $5  $      -

    Short-term investments
     with subsidiary bank                                  569                             563      1,133

    Other short-term
     investments                                            89                              89         94

    Investment in subsidiaries,
     principally banks                                   7,523                           7,596      7,411

    Premises and equipment                                   3                               2          2

    Other assets                                           137                             138        138
    ------------                                           ---                             ---        ---

          Total assets                                                   $8,325                   $8,393    $8,778
          ------------                                                   ------                   ------    ------


    LIABILITIES AND
     SHAREHOLDERS' EQUITY

    Medium- and long-term debt                                             $608                     $618    $1,208

    Other liabilities                                      157                             153        168
    -----------------                                      ---                             ---        ---

          Total liabilities                                765                             771      1,376


    Common stock -$5 par
     value:

        Authorized -325,000,000
         shares

        Issued -228,164,824 shares                       1,141                           1,141      1,141

    Capital surplus                                      2,173                           2,165      2,188

    Accumulated other
     comprehensive loss                                  (429)                          (345)     (412)

    Retained earnings                                    7,084                           7,007      6,744

    Less cost of common stock
     in treasury -52,457,113
     shares at 12/31/15;
     51,010,418 shares at
     9/30/15 and 49,146,225
     shares at 12/31/14                                (2,409)                        (2,346)   (2,259)
    -------------------------                           ------                          ------     ------

          Total shareholders' equity                     7,560                           7,622      7,402
          --------------------------                     -----                           -----      -----

          Total liabilities and
           shareholders' equity                                          $8,325                   $8,393    $8,778
          ---------------------                                          ------                   ------    ------



    CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                                       Accumulated

                                                   Common Stock                           Other                                   Total
                                                   ------------

                                                 Shares                    Capital   Comprehensive      Retained  Treasury   Shareholders'

    (in millions, except
     per share data)                          Outstanding      Amount      Surplus        Loss          Earnings   Stock         Equity
    --------------------                     -----------       ------      -------        ----          --------   -----         ------


    BALANCE AT DECEMBER
     31, 2013                                       182.3                              $1,141                           $2,179                       $(391)              $6,318          $(2,097)  $7,150

    Net income                                                      -                    -                      -                        -         593               -              593

    Other comprehensive
     loss, net of tax                                               -                    -                      -                     (21)           -              -             (21)

    Cash dividends
     declared on common
     stock ($0.79 per
     share)                                                         -                    -                      -                        -       (143)              -            (143)

    Purchase of common
     stock                                          (5.4)                         -                  -                     -                  -             (260)      (260)

    Net issuance of common
     stock under employee
     stock plans                                      2.1                          -               (27)                     -               (24)                96          45

    Share-based
     compensation                                                   -                    -                     38                         -           -              -               38

    Other                                                           -                    -                    (2)                        -           -              2                 -
                                                                  ---                  ---                    ---                       ---         ---            ---               ---

    BALANCE AT DECEMBER
     31, 2014                                       179.0                              $1,141                           $2,188                       $(412)              $6,744          $(2,259)  $7,402

    Net income                                                      -                    -                      -                        -         521               -              521

    Other comprehensive
     loss, net of tax                                               -                    -                      -                     (17)           -              -             (17)

    Cash dividends
     declared on common
     stock ($0.83 per
     share)                                                         -                    -                      -                        -       (148)              -            (148)

    Purchase of common
     stock                                          (5.3)                         -                  -                     -                  -             (240)      (240)

    Purchase and
     retirement of
     warrants                                                       -                    -                   (10)                        -           -              -             (10)

    Net issuance of common
     stock under employee
     stock plans                                      1.0                          -               (22)                     -               (11)                47          14

    Net issuance of common
     stock for warrants                               1.0                          -               (21)                     -               (22)                43           -

    Share-based
     compensation                                                   -                    -                     38                         -           -              -               38

    BALANCE AT DECEMBER
     31, 2015                                       175.7                              $1,141                           $2,173                       $(429)              $7,084          $(2,409)  $7,560
    -------------------                             -----                              ------                           ------                        -----               ------           -------   ------



     BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)

     Comerica
      Incorporated and
      Subsidiaries



    (dollar amounts in
     millions)                             Business          Retail            Wealth

    Three Months Ended
     December 31, 2015                       Bank             Bank           Management        Finance     Other         Total
    ------------------                       ----             ----           ----------        -------     -----         -----

    Earnings summary:

    Net interest income
     (expense) (FTE)                                    $387                              $160                      $47                 $(162)                    $2         $434

    Provision for
     credit losses                                41                      23                           (7)            -            3                 60

    Noninterest income                           147                      49                            57            15             2                270

    Noninterest
     expenses                                    208                     191                            81             2             4                486

    Provision (benefit)
     for income taxes
     (FTE)                                        85                     (4)                            9          (47)          (1)                42
                                                 ---                     ---                           ---           ---           ---

    Net income (loss)                                   $200                              $(1)                     $21                 $(102)                  $(2)        $116
                                                        ----                               ---                      ---                  -----                    ---         ----

    Net loan charge-
     offs (recoveries)                                   $35                               $25                     $(9)            $        -              $      -         $51


    Selected average
     balances:

    Assets                                           $38,765                            $6,549                   $5,199                $12,678                 $8,716      $71,907

    Loans                                     37,682                   5,868                         4,998             -            -            48,548

    Deposits                                  31,738                  23,262                         4,355           120           261             59,736


    Statistical data:

    Return on average
     assets (a)                                2.06%                (0.03)%                        1.68%          N/M          N/M             0.64%

    Efficiency ratio
     (b)                                       39.00                   91.69                         77.02           N/M          N/M             69.11
                                               -----                   -----                         -----           ---          ---             -----


                                           Business          Retail            Wealth

    Three Months Ended
     September 30, 2015                      Bank             Bank           Management        Finance     Other         Total
    -------------------                      ----             ----           ----------        -------     -----         -----

    Earnings summary:

    Net interest income
     (expense) (FTE)                                    $380                              $158                      $45                 $(162)                    $2         $423

    Provision for
     credit losses                                30                       2                           (3)            -          (3)                26

    Noninterest income                           145                      49                            59            15           (4)               264

    Noninterest
     expenses                                    202                     185                            74             2           (2)               461

    Provision (benefit)
     for income taxes
     (FTE)                                        99                       7                            12          (56)            2                 64
                                                 ---                     ---                           ---           ---           ---

    Net income (loss)                                   $194                               $13                      $21                  $(93)                    $1         $136
                                                        ----                               ---                      ---                   ----                    ---         ----

    Net loan charge-
     offs (recoveries)                                   $23                                $1                     $(1)            $        -              $      -         $23


    Selected average
     balances:

    Assets                                           $39,210                            $6,518                   $5,228                $12,177                 $8,200      $71,333

    Loans                                     38,113                   5,835                         5,024             -            -            48,972

    Deposits                                  31,397                  23,079                         4,188           212           264             59,140


    Statistical data:

    Return on average
     assets (a)                                1.98%                  0.23%                        1.62%          N/M          N/M             0.76%

    Efficiency ratio
     (b)                                       38.41                   89.33                         71.11           N/M          N/M             67.08
    ----------------                           -----                   -----                         -----           ---          ---             -----


                                           Business          Retail            Wealth

    Three Months Ended
     December 31, 2014                       Bank             Bank           Management        Finance     Other         Total
    ------------------                       ----             ----           ----------        -------     -----         -----

    Earnings summary:

    Net interest income
     (expense) (FTE)                                    $387                              $152                      $47                 $(177)              7         $416

    Provision for
     credit losses                                 8                     (2)                          (9)            -            5                  2

    Noninterest income                           104                      45                            60            16             -               225

    Noninterest
     expenses                                    148                     182                            80             3             6                419

    Provision (benefit)
     for income taxes
     (FTE)                                       119                       6                            14          (64)          (4)                71
                                                 ---                     ---                           ---           ---           ---                ---

    Net income (loss)                                   $216                               $11                      $22                 $(100)              $      -        $149
                                                        ----                               ---                      ---                  -----             ---    ---        ----

    Net loan charge-
     offs (recoveries)                                  $(1)                               $4                     $(2)            $        -              $      -          $1


    Selected average
     balances:

    Assets                                           $37,896                            $6,298                   $5,034                $12,218                 $7,861      $69,307

    Loans                                     36,890                   5,626                         4,845             -            -            47,361

    Deposits                                  30,897                  22,301                         4,094           195           273             57,760


    Statistical data:

    Return on average
     assets (a)                                2.28%                  0.19%                        1.79%          N/M          N/M             0.86%

    Efficiency ratio
     (b)                                       30.09                   92.33                         74.48           N/M          N/M             65.26
    ----------------                           -----                   -----                         -----           ---          ---             -----
    (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



     MARKET SEGMENT FINANCIAL RESULTS (unaudited)

     Comerica Incorporated and Subsidiaries



    (dollar amounts in millions)                                                              Other        Finance

    Three Months
     Ended December
     31, 2015                            Michigan          California        Texas          Markets       & Other           Total
    ---------------                      --------          ----------        -----          -------       -------           -----

    Earnings summary:

    Net interest
     income (expense)
     (FTE)                                            $183                            $193                            $131                   $87               $(160)   $434

    Provision for
     credit losses                            (12)                      (7)                        57                  19             3                60

    Noninterest
     income                                     82                        41                         32                  98            17               270

    Noninterest
     expenses                                  161                       108                        103                 108             6               486

    Provision
     (benefit) for
     income taxes
     (FTE)                                      33                        43                          6                   8          (48)               42
                                               ---                       ---                        ---                 ---           ---               ---

    Net income (loss)                                  $83                             $90                            $(3)                  $50               $(104)   $116
                                                       ---                             ---                             ---                   ---                -----    ----

    Net loan charge-
     offs                                             $(2)                             $1                             $33                   $19             $      -    $51


    Selected average balances:

    Assets                                         $13,601                         $17,297                         $11,474                $8,141              $21,394 $71,907

    Loans                                   12,986                    17,033                     10,893               7,636             -           48,548

    Deposits                                22,123                    18,545                     10,807               7,880           381            59,736


    Statistical data:

    Return on average
     assets (a)                              1.43%                    1.83%                   (0.10)%              2.36%          N/M            0.64%

    Efficiency ratio
     (b)                                     61.06                     46.17                      62.94               58.11           N/M            69.11
    ----------------                         -----                     -----                      -----               -----           ---            -----


                                                                                           Other        Finance

    Three Months
     Ended September
     30, 2015                            Michigan          California        Texas          Markets       & Other           Total
    ----------------                     --------          ----------        -----          -------       -------           -----

    Earnings summary:

    Net interest
     income (expense)
     (FTE)                                            $180                            $187                            $129                   $87               $(160)   $423

    Provision for
     credit losses                               6                        24                         10                (11)          (3)               26

    Noninterest
     income                                     85                        38                         34                  96            11               264

    Noninterest
     expenses                                  152                       102                         97                 110             -              461

    Provision
     (benefit) for
     income taxes
     (FTE)                                      36                        37                         20                  25          (54)               64
                                               ---                       ---                        ---                 ---           ---               ---

    Net income (loss)                                  $71                             $62                             $36                   $59                $(92)   $136
                                                       ---                             ---                             ---                   ---                 ----    ----

    Net loan charge-
     offs
     (recoveries)                                       $9                             $10                              $4             $       -            $      -    $23


    Selected average balances:

    Assets                                         $13,856                         $17,060                         $11,578                $8,462              $20,377 $71,333

    Loans                                   13,223                    16,789                     10,997               7,963             -           48,972

    Deposits                                21,946                    18,372                     10,753               7,593           476            59,140


    Statistical data:

    Return on average
     assets (a)                              1.23%                    1.27%                     1.16%              2.82%          N/M            0.76%

    Efficiency ratio
     (b)                                     57.49                     45.28                      59.54               59.86           N/M            67.08
    ----------------                         -----                     -----                      -----               -----           ---            -----


                                                                                           Other        Finance

    Three Months
     Ended December
     31, 2014                            Michigan          California        Texas          Markets       & Other           Total
    ---------------                      --------          ----------        -----          -------       -------           -----

    Earnings summary:

    Net interest
     income (expense)
     (FTE)                                            $173                            $192                            $139                   $82               $(170)   $416

    Provision for
     credit losses                            (19)                     (10)                        18                   8             5                 2

    Noninterest
     income                                     89                        37                         38                  45            16               225

    Noninterest
     expenses                                  157                       100                         95                  58             9               419

    Provision
     (benefit) for
     income taxes
     (FTE)                                      45                        55                         24                  15          (68)               71
                                               ---                       ---                        ---                 ---           ---               ---

    Net income (loss)                                  $79                             $84                             $40                   $46               $(100)   $149
                                                       ---                             ---                             ---                   ---                -----    ----

    Net loan charge-
     offs
     (recoveries)                                     $(5)                             $1                              $2                    $3             $      -     $1


    Selected average balances:

    Assets                                         $13,605                         $16,035                         $12,003                $7,585              $20,079 $69,307

    Loans                                   13,142                    15,777                     11,327               7,115             -           47,361

    Deposits                                21,530                    18,028                     10,825               6,909           468            57,760


    Statistical data:

    Return on average
     assets (a)                              1.41%                    1.77%                     1.32%              2.42%          N/M            0.86%

    Efficiency ratio
     (b)                                     59.92                     43.61                      53.62               45.47           N/M            65.26
    ----------------                         -----                     -----                      -----               -----           ---            -----
    (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



    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)

    Comerica
     Incorporated and
     Subsidiaries


                                          December 31,       September 30,     June 30,    March 31,    December 31,

    (dollar amounts in
     millions)                                    2015                    2015        2015         2015                 2014
    ------------------                            ----                    ----        ----         ----                 ----


    Tier 1 Common
     Capital Ratio:

    Tier 1 and Tier 1
     common capital (a)                            n/a                               n/a                             n/a        n/a                       $7,169


    Risk-weighted
     assets (a)                                    n/a                               n/a                             n/a        n/a            68,269
    -------------                                  ---                               ---                             ---        ---            ------


    Tier 1 and Tier 1
     common risk-based
     capital ratio                                 n/a                               n/a                             n/a        n/a            10.50%
    ------------------                             ---                               ---                             ---        ---             -----


    Tangible Common
     Equity Ratio:

    Common
     shareholders'
     equity                                                            $7,560                                      $7,622               $7,523                    $7,500  $7,402

    Less:

    Goodwill                                       635                                635                              635         635                635

    Other intangible
     assets                                         14                                 14                               15          15                 15
                                                   ---                                ---                              ---         ---                ---

    Tangible common
     equity                                                            $6,911                                      $6,973               $6,873                    $6,850  $6,752
    ---------------                                                    ------                                      ------               ------                    ------  ------


    Total assets                                                      $71,877                                     $71,012              $69,945                   $69,333 $69,186

    Less:

    Goodwill                                       635                                635                              635         635                635

    Other intangible
     assets                                         14                                 14                               15          15                 15
                                                   ---                                ---                              ---         ---                ---

    Tangible assets                                                   $71,228                                     $70,363              $69,295                   $68,683 $68,536
    ---------------                                                   -------                                     -------              -------                   ------- -------


    Common equity ratio                         10.52%                            10.73%                          10.76%     10.82%            10.70%

    Tangible common
     equity ratio                                 9.70                               9.91                             9.92        9.97               9.85
    ---------------                               ----                               ----                             ----        ----               ----


    Tangible Common
     Equity per Share
     of Common Stock:

    Common
     shareholders'
     equity                                                            $7,560                                      $7,622               $7,523                    $7,500  $7,402

    Tangible common
     equity                                      6,911                              6,973                            6,873       6,850              6,752
    ---------------                              -----                              -----                            -----       -----              -----


    Shares of common
     stock outstanding
     (in millions)                                 176                                177                              178         178                179
    ------------------                             ---                                ---                              ---         ---                ---


    Common
     shareholders'
     equity per share
     of common stock                                                   $43.03                                      $43.02               $42.18                    $42.12  $41.35

    Tangible common
     equity per share
     of common stock                             39.33                              39.36                            38.53       38.47              37.72
    -----------------                            -----                              -----                            -----       -----              -----
    (a) Tier 1 capital and risk-
     weighted assets as defined by Basel
     I risk-based capital rules.

    n/a - not applicable.

    The Tier 1 common capital ratio
     removes preferred stock and
     qualifying trust preferred
     securities from Tier 1 capital as
     defined by and calculated in
     conformity with Basel I risk-based
     capital rules in effect through
     December 31, 2014. Effective
     January 1, 2015, regulatory capital
     components and risk-weighted
     assets are defined by and
     calculated in conformity with Basel
     III risk-based capital rules. The
     tangible common equity ratio
     removes preferred stock and the
     effect of intangible assets from
     capital and the effect of
     intangible assets from total
     assets. Tangible common equity per
     share of common stock removes the
     effect of intangible assets from
     common shareholders equity per
     share of common stock. Comerica
     believes these measurements are
     meaningful measures of capital
     adequacy used by investors,
     regulators, management and others
     to evaluate the adequacy of common
     equity and to compare against other
     companies in the industry.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/comerica-adjusts-fourth-quarter-and-full-year-2015-results-300221002.html

SOURCE Comerica Incorporated

For further information: Media, Wayne J. Mielke, (214) 462-4463; or Investor, Darlene P. Persons, (214) 462-6831; or Chelsea R. Smith, (214) 462-6834
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