Comerica increases credit reserves amid COVID-19 pandemic

Comerica Inc. has increased its credit reserves, especially as it relates to the energy sector, and facilitated an uptick in loans in late March amid the COVID-19 pandemic, according to the bank’s first quarter earnings report. 

Loans increased more than $3 billion in the latter half of March to a record level, Comerica (NYSE: CMA) reported. The bank reported net interest income of $513 million, which fell from $544 million in the fourth quarter of 2019.

The Dallas-based bank is an SBA-preferred…


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