* Q3 EPS $0.61/shr vs. est. $0.65/shr
* Commercial real estate loans fall 3 pct
* Net interest margin 2.96 pct vs. 3.18 pct year ago
Oct 17 U.S. regional bank Comerica Inc
reported a third-quarter profit that missed analysts'
expectations, mainly due to a drop in higher-yielding commercial
real estate loans that hurt its net interest margin.
U.S. banks are experiencing shrinking margins as older loans
with higher interest rates are paid down and there are fewer
places to invest growing deposits.
"Net interest income declined slightly, reflecting the
expected continued shift in loan portfolio mix...," Chief
Executive Ralph Babb said in a statement.
The company said commercial real estate loans fell 3 percent
in the latest quarter, while lower-yielding commercial loans
rose 3 percent.
The Dallas-based bank said net income attributable to common
shareholders rose to $116 million, or 61 cents per share, from
$97 million, or 51 cents per share, a year earlier.
Analysts were expecting the lender to earn 65 cents per
share, according to Thomson Reuters I/B/E/S.
Comerica said its net interest margin fell to 2.96 percent
from 3.18 percent.
Shares of the company, which has a market value of $5.98
billion, closed at $31.04 on the New York stock Exchange on