Comerica Inc. said fourth-quarter profits rose 10%, to $194 million, on growth in business loans and fees from its investment advisory business.

The $42 billion-asset Detroit banking company is best known as a major commercial lender, but in recent months it has broadened its horizons. In November it announced plans to buy Imperial Bancorp of Inglewood, Calif., in a $1.3 billion stock transaction that would expand Comerica’s middle-market and small-business lending business, especially in California.

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