In an earlier version, this article compared the revenue shift to the first quarter of 2022 instead of the fourth. This has been corrected.

Comerica Inc. stock CMA, +5.49% fell 2.4% Thursday premarket after the regional banking. The bank reported a net profit of $324m, or $2.39 per share, for the third quarter. This is up from $189m, or $1.37 per share, the previous quarter. However, the numbers were lower than the fourth quarter when the bank made $350 million or $2.58 per share. Comerica didn’t provide a number for revenue but stated that it was down by 2.9% compared to the previous quarter. The bank reported revenue of $1.02billion in the fourth-quarter and expected revenue of $990m for the first-quarter. The bank stated that since March 9, deposits have fallen by $3.7 billion. The stock of Silicon Valley Bank dropped more than 60% on this day after disclosures caused a run. was shut down by California regulators a day later. The demise of that bank led to a massive flight of deposits from regional banks into larger ones. Comerica reported that uninsured deposit decreased by $10 billion to $35 billion or 54% of the total deposits for the quarter. In order to create a buffer, the bank added $13.8billion in liquidity during the quarter. Net interest income increased to $708 millions in the third quarter, up from $456million a year earlier. The company set aside $30m as a provision against loan losses after cutting provisions by $11m a year earlier. The stock is down 30% year-to-date, while S&P 500 is up 8%.