Samuel Barger's questions to Comerica Inc (CMA) leadership • Q3 2024
Question
Samuel Barger asked for more detail on the Q4 net interest margin outlook, particularly regarding liquidity management and brokered deposit paydowns, and inquired about the growth prospects for the Environmental Services business.
Answer
CFO Jim Herzog stated that the balance sheet will become more efficient in Q4 with lower wholesale funding, and he expects the NIM to improve materially, likely ending 'near a 3% handle.' Chief Banking Officer Peter Sefzik described the Environmental Services business as a consistent high-performer that the bank will continue to invest in, expecting its future growth rate to be similar to that of recent years.