The Real Deal Miami

Florida losses plague Comerica

January 23, 2009 10:39AM

Dallas-based Comerica said Florida was the only market where the bank
lost money last year, as deposits shrank and reserves against loan
losses mounted amid the state’s economic woes. Loan charge-offs and
nonperforming loans both more than doubled for Comerica, driven by
weakness from residential developers in Florida and California. The
company increased its loan loss provision to $192 million, up from $108
million in December 2007.