Comerica Incorporated (NYSE:CMA) Q4 2023 Earnings Conference Call January 19, 2024 8:00 AM ET

Company Participants

Kelly Gage - Director of Investor Relations

Curt Farmer - President, Chairman and Chief Executive Officer

Jim Herzog - Chief Financial Officer

Peter Sefzik - Chief Banking Officer

Melinda Chausse - Chief Credit Officer

Conference Call Participants

Peter Winter - D.A. Davidson

Manan Gosalia - Morgan Stanley

John Pancari - Evercore ISI

Jon Arfstrom - RBC Capital Markets

Steven Alexopoulos - JPMorgan

Chris McGratty - KBW

Brody Preston - UBS

Operator

Hello, and welcome to the Comerica Fourth Quarter 2023 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded.

It's now my pleasure to turn the call over to Kelly Gage, Director of Investor Relations. Please, go ahead, Kelly.

Kelly Gage

Thanks, Kevin. Good morning, and welcome to Comerica's fourth quarter 2023 earnings conference call.

Participating on this call will be our President, Chairman and CEO, Curt Farmer; Chief Financial Officer, Jim Herzog; Chief Credit Officer, Melinda Chausse; and Chief Banking Officer, Peter Sefzik.

During this presentation, we will be referring to slides which will provide additional details. The presentation slides and our press release are available on the SEC's website as well as the Investor Relations section of our website, comerica.com.

This conference call contains forward-looking statements, and in that regard, you should be mindful of the risks and uncertainties that can cause actual results to vary materially from expectations. Forward-looking statements speak only as of the date of this presentation and we undertake no obligation to update any forward-looking statements. Please refer to the safe harbor statement in today's earnings presentation on Slide 2, which is incorporated into this call as well as the SEC filings for factors that can cause actual results to differ.

Also, this conference call will reference non-GAAP measures. And in that regard, I direct you to the reconciliation of these measures in the earnings materials that are available on our website.

With that, I'll turn the call to Curt.

Curt Farmer

Thank you, Kelly, and good morning, everyone. Thank you for joining our call.

Although 2023 was challenging for our industry, we felt it was a year of achievement. Following industry disruption, we protected relationships, stabilized deposits, maintained strong credit quality, enhanced our capital, and took steps to position our business for future success. In fact, we delivered record average loans and record net interest income.