Comerica Incorporated (CMA) Q4 2022 Earnings Call Transcript

Comerica Incorporated (NYSE:CMA) Q4 2022 Earnings Conference Call January 19, 2023 8:00 AM ET

Company Participants

Kelly Gage - Director, Investor Relations

Curtis Farmer - Chairman, President and Chief Executive Officer

Jim Herzog - Chief Financial Officer

Melinda Chausse - Chief Credit Officer

Conference Call Participants

Manan Gosalia - Morgan Stanley

Steven Alexopoulos - J.P. Morgan

Jon Arfstrom - RBC Capital Markets

Operator

Hello, and thank you for standing by, and welcome to the Comerica Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Kelly Gage, Director of Investor Relations. Please go ahead.

Kelly Gage

Thanks, Greg. Good morning, and welcome to Comerica's fourth quarter 2022 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 Executive Director of our Commercial Bank, 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 in the Investor Relations section of our website, comerica.com. This conference call contains forward-looking statements. 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.

Also this conference call will reference non-GAAP measures and in that regard I direct you to the reconciliation of these measures on our website coamerica.com. Please refer to the Safe Harbor Statement in today's earnings release on Slide 2, which is incorporated into this call, as well as our SEC filings for factors that can cause actual results to differ.

Now, I'll turn our call over to Curt, who will begin on Slide 3.

Curtis Farmer

Thank you, Kelly. Good morning, everyone and thank you for joining our call. In 2022, we generated another year of record earnings. And in many ways it has been an inflection point for our company. Colleagues return the office reinvigorated, ready to support our customers and reimaging the way we work, and we delivered results. Strong broad-based loan growth and [management of loan] [ph] and deposit pricing and rising rate environment drove revenue to an all-time high of 3.5 billion.