Comerica 3Q17

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Ralph Babb – Chairman and CEO

Pete Guilfoile – Chief Credit Officer

David Duprey

Clients subdued but optimistic

Our loan pipeline remained solid in the third quarter and our commitments to commit are up significantly. We believe this reflects improving sentiment over the past month of so; however, overall customers remain subdued, yet optimistic given slow progress in DC and geopolitical tensions.

More fluidity in deposits

There has been a bit of a shift that as you saw the shifting out of some of the money market into the noninterest bearing which actually is beneficial for us. So I think we are starting to see a little more fluidity with deposit

Curtis Farmer

VCs investing more money in fewer deals

On the technology and life sciences, as was mentioned earlier, where we are seeing growth in 2017 has been more in the equity fund services component of that. That’s why we’re providing capital call and subscription lines to venture capital firms and that has been a nice growth part of the business for us overall. We really like the technology and life sciences space. We feel like we’ve got a lot of great relationships there and great expertise. But what we’re seeing is that the venture capital firms have become a little bit more selective. They’re investing more money in fewer deals. So a lot of competition – one, there’s more competition out there, but a lot of competition is chasing a lot of the same transactions