Comerica Inc. (CMA) posted fourth-quarter results before the opening bell today. The company reported a net loss of $62 million, or 41 cents per share, compared to a net income of $3 million, or 2 cents per share in the year-ago period. However, the quarterly results came in ahead of the Zacks Consensus Estimate for a 50-cent-per-share loss.

Fully taxable equivalent net interest income increased 2.8% sequentially to $396 million. The increase was primarily driven by a 26 basis points improvement in net interest margin to 2.94%, partially offset by a reduction in total earning assets by 6.2% to $53.9 billion. Provisions for loan losses decreased by 17.4% sequentially to $257 million, while the net charge-off ratio dipped by 4 basis points (bps) to 2.10%.

Comerica’s non-interest income declined 32.1% sequentially to $214 million in the reported quarter. The sequential decrease was primarily the result of lower securities gains, primarily from sales of mortgage-backed government agency securities.

Non-interest expenses for the quarter increased 6.3% sequentially to $424 million. The sequential increase stemmed primarily from a rise in real estate-related costs coupled with higher severance-related expenses.

Comerica further strengthened its balance sheet with the tangible common equity ratio improving to 7.99%, from 7.96% in the previous quarter and 7.21% in the year-ago period, while Tier 1 capital ratio increased to 12.46% from 12.21% in the previous quarter and 10.66% last year.

For the full-year 2010, Comerica expects low single-digit growth in loans, with net interest margin of 3.15% to 3.25% amid improved loan pricing and lower funding costs. The company anticipates approximately flat non-interest income and low single-digit decrease in non-interest expenses. Moreover, management also expects net credit-related charge-offs to reduce by $775 million to $825 million during the year.

Shares of Comerica have so far gained more than 6% in morning trade to reach $35.81 on the New York Stock Exchange.

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