Comerica Incorporated announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company announced total interest income of $456 million compared to $481 million for the same period a year ago. Net interest income was $424 million compared to $444 million for the same period a year ago. Income before income taxes was $185 million compared to $129 million for the same period a year ago. Net income was $130 million compared to $96 million for the same period a year ago. Net income attributable to common shares was $128 million or $0.68 per basic and diluted share compared to $95 million or $0.48 per basic and diluted share for the same period a year ago. Return on average common shareholders' equity was 7.36% compared to 5.51% for the same period a year ago. Return on average assets was 0.81% compared to 0.63% for the same period a year ago.

For the full year, the company announced total interest income of $1,863 million compared to $1,809 million for the same period a year ago. Net interest income was $1,728 million compared to $1,653 million for the same period a year ago. Income before income taxes was $710 million compared to $530 million for the same period a year ago. Net income was $521 million compared to $393 million for the same period a year ago. Net income attributable to common shares was $515 million or $2.67 per diluted share compared to $389 million or $2.09 per diluted share for the same period a year ago. Return on average common shareholders' equity was 7.43% compared to 6.18% for the same period a year ago. Return on average assets was 0.83% compared to 0.69% for the same period a year ago. 2012 net income included restructuring expenses associated with the acquisition of Sterling Bancshares Inc. of $35 million ($22 million, after tax), compared to $75 million ($47 million, after tax) for 2011.

For the fourth quarter ended December 31, 2012, the company announced net loan charge-offs of $37 million compared to $60 million for the same period a year ago.

The company provided earnings guidance for the fiscal year 2013. For 2013, management expects the following compared to 2012, assuming a continuation of the current slow growing economic environment: Lower net interest income, reflecting both a decline of $40 million to $50 million in purchase accounting accretion and the effect of continued low rates; Increase in customer-driven noninterest income, reflecting continued cross-sell initiatives and selective pricing adjustments; Lower noninterest expense, reflecting further cost savings due to tight expense control and no restructuring expenses; Income tax expense to approximate 36.5% of pre-tax income less approximately $66 million in tax benefits.