Comerica Reports First Quarter 2009 Net Income of $9 Million
Already Strong Capital Levels Further Enhanced
Average Core Deposits Increased $1 Billion
Management Continues Strong Focus on Expense Controls
EPS Impact of Preferred Stock Dividends to U.S. Treasury (22 Cents)

DALLAS, April 21, 2009 /PRNewswire-FirstCall via COMTEX/ -- Comerica Incorporated (NYSE: CMA) today reported first quarter 2009 net income of $9 million, compared to net income of $20 million for the fourth quarter 2008 and $109 million for the first quarter 2008. After preferred dividends of $33 million in the first quarter 2009 and $17 million in the fourth quarter 2008, the net loss applicable to common stock was $24 million, or $0.16 per diluted share, for the first quarter 2009, compared to net income applicable to common stock of $3 million, or $0.02 per diluted share, for the fourth quarter 2008 and $109 million, or $0.73 per diluted share, for the first quarter 2008. First quarter 2009 included a $203 million provision for loan losses, compared to $192 million for the fourth quarter 2008 and $159 million for the first quarter 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO)

    ------------------------------------------------------------------------
                                                        1st      4th    1st
    (dollar amounts in millions, except per share       Qtr      Qtr    Qtr
     data)                                              '09      '08    '08
    ------------------------------------------------------------------------
    Net interest income                                $384      $431  $476
    Provision for loan losses                           203       192   159
    Noninterest income                                  223       174   237
    Noninterest expenses                                397       411   403

    Net income                                            9        20   109
    Preferred stock dividends to U.S. Treasury           33        17     -
    Net income (loss) applicable to common stock        (24)        3   109

    Diluted earnings (loss) per common share          (0.16)     0.02  0.73

    Tier 1 capital ratio                              11.08%*   10.66% 7.40%
    Tangible common equity ratio                       7.27      7.21  7.62

    Net interest margin                                2.53      2.82  3.22

    * March 31, 2009 ratio is estimated.
    ========================================================================

"We had $5.6 billion in new and renewed commitments in the first quarter, as we continued to focus our lending efforts on new and existing relationship customers, with the appropriate credit standards and return hurdles in place," said Ralph W. Babb Jr., chairman and chief executive officer. "To support the challenged housing market, we also funded $2 billion in mortgage-backed government agency securities in the quarter.

"Commercial and industrial loan growth has slowed sharply in all 10 previous post-World War II recessions, with actual loan outstandings falling in eight of those recessions, in inflation-adjusted terms. Companies have reduced their borrowings out of appropriate caution during this recession, as well. As a result, we have seen reduced loan demand across our geographic markets.

"The $33 million preferred stock dividends to the U.S. Treasury Department under the Capital Purchase Program weighed on our first quarter results, with an impact of 22 cents per share. We plan to redeem the $2.25 billion in preferred stock at such time as feasible, with careful consideration given to the economic environment.

"Our already strong capital levels were further enhanced in the first quarter, with a preliminary Tier 1 Capital ratio of 11.08 percent at March 31. The quality of our capital also continues to be solid, as evidenced by a Tier I Common capital ratio of 7.33 percent and a Tangible Common Equity ratio of 7.27 percent.

"We were pleased by the $1 billion increase in average core deposits. We are staying close to our customers throughout this economic cycle, delivering the exceptional service that has been a hallmark of our company for many years.

"Our expense controls included a workforce reduction of five percent in the first quarter, bringing us to a staffing level that is the lowest in more than 10 years, even with our investment in about 100 new banking centers since 2005. Together with other cost-savings actions, as well as our efforts to grow new and existing customer relationships, we believe we are well positioned to weather the economic downturn and for the future."

First Quarter 2009 Compared to Fourth Quarter 2008

    --  Average earning assets increased $618 million, reflecting a $1.4 billion
        increase in investment securities, from purchases of mortgage-backed
        government agency securities in the first quarter 2009 and auction-rate
        securities repurchased from customers in the fourth quarter 2008,
        partially offset by a decrease in average loans.
    --  Average loans, excluding Financial Services Division (FSD) loans, were
        down $1.7 billion from the fourth quarter 2008. National Dealer Services
        average loans declined $461 million and Middle Market average loans
        declined in all markets. The declines reflected reduced demand from
        customers in a rapidly contracting economic environment.
    --  Average core deposits, excluding the Financial Services Division,
        increased $1.0 billion in the first quarter 2009, reflecting an $840
        million increase in noninterest-bearing deposits.
    --  The net interest margin of 2.53 percent decreased 29 basis points, from
        2.82 percent in the fourth quarter 2008, primarily reflecting the
        limited opportunity to reduce deposit rates and the decreased
        contribution of noninterest-bearing funds in a significantly lower rate
        environment, partially offset by increasing loan spreads.
    --  Net credit-related charge-offs were $157 million, or 1.26 percent of
        average total loans, for the first quarter 2009, compared to $133
        million, or 1.04 percent of average total loans, for the fourth quarter
        2008.  The provision for loan losses was $203 million for the first
        quarter 2009, compared to $192 million for the fourth quarter 2008, and
        the period-end allowance to total loans ratio increased to 1.68 percent
        from 1.52 percent at December 31, 2008.
    --  Noninterest income increased $49 million, and included a $24 million
        pre-tax gain on the termination of certain structured lease
        transactions, $13 million of net securities gains (including gains of $5
        million from redemptions of auction-rate securities) and $5 million in
        deferred compensation asset losses, a decrease in losses of $13 million
        when compared to the fourth quarter 2008 (offset by an increase in
        deferred compensation plan costs in noninterest expenses).
    --  Noninterest expenses decreased $14 million from the fourth quarter,
        primarily due to a $16 million decrease in salaries expense and targeted
        decreases across discretionary categories of noninterest expenses,
        partially offset by  increases in pension expense ($11 million) and FDIC
        insurance expense ($8 million). Total severance-related expenses were $6
        million in the first quarter, down from $29 million in the fourth
        quarter of 2008.  Annualized first quarter noninterest expenses were
        nearly 10 percent lower than noninterest expenses for the full-year
        2008.

    --  The estimated Tier 1 common and Tier 1 capital ratios were 7.33 percent
        and 11.08 percent, respectively.

Net Interest Income and Net Interest Margin

    --------------------------------------------------------------------------
                                                       1st      4th      1st
                                                       Qtr      Qtr      Qtr
    (dollar amounts in millions)                       '09      '08      '08
    --------------------------------------------------------------------------
    Net interest income                                $384     $431     $476

    Net interest margin                                2.53%    2.82%    3.22%

    Selected average balances:
      Total earning assets                          $61,752  $61,134  $59,518
      Total investment securities                    10,126    8,734    7,222
      Total loans                                    49,556   51,338   51,852
      Total loans, excluding FSD loans (primarily
       low-rate)                                     49,344   51,015   51,050

      Total core deposits*, excluding FSD            31,946   30,944   32,620
      Total noninterest-bearing deposits             11,364   10,575   10,622
      Total noninterest-bearing deposits,
       excluding FSD                                 10,095    9,255    8,728

    * Core deposits exclude other time deposits and foreign office time
    deposits.
    ==========================================================================

    --  The $47 million decrease in net interest income in the first quarter
        2009, when compared to fourth quarter 2008, resulted primarily from a
        reduction in the net interest margin, a decline in loans and the impact
        of two less days ($9 million).
    --  First quarter 2009 average core deposits, excluding the Financial
        Services Division, increased $1.0 billion compared to fourth quarter
        2008, reflecting an $840 million increase in noninterest-bearing
        deposits. The increase in noninterest-bearing deposits occurred across
        all business segments from both commercial and consumer customers.
    --  The net interest margin of 2.53 percent declined 29 basis points,
        compared to fourth quarter 2008, primarily reflecting the limited
        opportunity to reduce deposit rates at the same pace as the decline in
        loan yields and the decreased contribution of noninterest-bearing funds
        in a significantly lower rate environment, partially offset by
        increasing loan spreads. Variable rate loan yields generally move with
        the average target federal funds and one-month LIBOR rates, which
        declined 82 basis points and 171 basis points, respectively, from the
        fourth quarter 2008. In addition, the net interest margin was reduced by
        approximately seven basis points from $1.8 billion of average balances
        deposited with the Federal Reserve Bank in the first quarter 2009,
        compared to a reduction of approximately two basis points from $778
        million of average balances in the fourth quarter 2008.

    --  Total average Financial Services Division deposits decreased $268
        million from the fourth quarter 2008. This division serves title and
        escrow companies that facilitate residential mortgage transactions and
        benefits from customer deposits related to mortgage escrow balances.
        Deposits continued to decline primarily due to reduced home prices.

Noninterest Income

Noninterest income was $223 million for the first quarter 2009, compared to $174 million for the fourth quarter 2008 and $237 million for the first quarter 2008. Noninterest income in the first quarter 2009, compared to the fourth quarter 2008, included a $24 million pre-tax gain on the termination of certain structured lease transactions (included in "other noninterest income") and $13 million of net securities gains, which included gains of $8 million from sales of mortgage-backed securities and $5 million from redemptions of auction-rate securities. In addition, deferred compensation asset losses were $5 million in the first quarter 2009, a decrease in losses of $13 million when compared to the fourth quarter 2008 (offset by an increase in deferred compensation plan costs in noninterest expenses). Certain categories of noninterest income are highlighted in the following table.

    ------------------------------------------------------------------------
                                                        1st    4th    1st
                                                        Qtr    Qtr    Qtr
    (in millions)                                       '09    '08    '08
    ------------------------------------------------------------------------
    Net securities gains                                $13     $4    $22
    Other noninterest income
      Net income (loss) from principal investing and
       warrants                                          (2)    (5)    (4)
      Deferred compensation asset returns*               (5)   (18)    (5)

    * Compensation deferred by Comerica officers is invested in stocks and
    bonds to reflect the investment selections of the officers. Income (loss)
    earned on these assets is reported in noninterest income and the
    offsetting increase (decrease) in the liability is reported in salaries
    expense.
    ========================================================================

Noninterest Expenses

Noninterest expenses were $397 million for the first quarter 2009, compared to $411 million for the fourth quarter 2008 and $403 million for the first quarter 2008. The $14 million decrease in noninterest expenses in the first quarter 2009, compared to the fourth quarter 2008, reflected a decrease of $16 million in salaries expense and targeted decreases across discretionary categories of noninterest expenses, partially offset by increases of $11 million in pension expense and $8 million in FDIC insurance expense. The decrease in salaries expense was primarily due to decreases of $19 million in severance expense and $6 million in incentives, partially offset by a $13 million increase in deferred compensation plan costs (offset by a decrease in deferred compensation asset losses in noninterest income). Regular salaries expense was also impacted by reductions in full-time equivalent staff of approximately 490 and 160 in the first quarter 2009 and fourth quarter 2008, respectively. Total severance-related expenses were $6 million in the first quarter, down from $29 million in the fourth quarter of 2008. Certain categories of noninterest expenses are highlighted in the table below.

    ----------------------------------------------------------------------
                                                        1st   4th     1st
                                                        Qtr   Qtr     Qtr
                                                        '09   '08     '08
    ----------------------------------------------------------------------
    Salaries
      Regular salaries                                 $147  $152    $151
      Severance                                           5    24       2
      Incentives                                         13    19      32
      Deferred compensation plan costs                   (5)  (18)     (5)
      Share-based compensation                           11    10      20
                                                        ---   ---     ---
        Total salaries                                  171   187     200
    Employee benefits
      Pension expense                                    16     5       5
      Other benefits                                     38    43      42
      Severance-related benefits                          1     5       -
                                                        ---   ---     ---
        Total employee benefits                          55    53      47

    Customer services                                     -     2       6
    Litigation and operational losses                     2     3      (8)
    Provision for credit losses on lending-related
      commitments                                        (1)   (2)      4
    Other noninterest expenses
      FDIC insurance                                     15     7       2
      Other real estate expense                           7     5       2
    ======================================================================

Credit Quality

"We have continued to reserve for loan losses substantially in excess of charge-offs to reflect the continued downturn in the economy," said Babb. "Our loan loss reserves are established using a thorough methodology, in which the reserve is built credit by credit at the end of each quarter. We continually review the components of the reserve, analyze risk rating migration within industries and geographies, and conduct stress testing. We continue to work hard to stay ahead of the credit issues in this environment."

    --  The allowance to total loans ratio increased to 1.68 percent at March
        31, 2009, from 1.52 percent at December 31, 2008 and 1.16 percent at
        March 31, 2008.
    --  The provision for loan losses and loan quality reflected challenges in
        the Midwest, Western and Florida markets and the contracting domestic
        economy.
    --  Net credit-related charge-offs in the Commercial Real Estate business
        line in the first quarter 2009 were $73 million, of which $47 million
        were from residential real estate developers in the Western market.
        Comparable numbers for the fourth quarter 2008 were $59 million in
        total, of which $37 million were from residential real estate developers
        in the Western market.
    --  Net loan charge-offs excluding the Commercial Real Estate business line
        were $84 million in the first quarter 2009, or 76 basis points of
        average non-Commercial Real Estate loans, compared to $74 million, or 66
        basis points, in the fourth quarter 2008.

    --  Nonperforming assets increased to 2.20 percent of total loans and
        foreclosed property at March 31, 2009. During the first quarter 2009,
        $241 million of loan relationships greater than $2 million were
        transferred to nonaccrual status, a decrease of $17 million from the
        fourth quarter 2008. Of the transfers of loan relationships greater than
        $2 million to nonaccrual in the first quarter 2009, $112 million were in
        the Commercial Real Estate business line and $89 million were in Middle
        Market, a decrease of $51 million and an increase of $28 million from
        the fourth quarter 2008, respectively.

    -----------------------------------------------------------------------
                                                           1st   4th   1st
                                                           Qtr   Qtr   Qtr
    (dollar amounts in millions)                           '09   '08   '08
    -----------------------------------------------------------------------
    Net loan charge-offs                                  $157  $133  $110
    Net lending-related commitment charge-offs               -     -     -
                                                          ----  ----  ----
        Total net credit-related charge-offs               157   133   110
    Net loan charge-offs/Average total loans              1.26% 1.04% 0.85%
    Net credit-related charge-offs/Average total loans    1.26  1.04  0.85

    Provision for loan losses                             $203  $192  $159
    Provision for credit losses on lending-related
     commitments                                            (1)   (2)    4
                                                          ----  ----  ----
        Total provision for credit losses                  202   190   163

    Nonperforming loans                                    982   917   538
    Nonperforming assets (NPAs)                          1,073   983   560
    NPAs/Total loans and foreclosed property              2.20% 1.94% 1.07%

    Loans past due 90 days or more and still accruing      207   125    80

    Allowance for loan losses                             $816  $770  $605
    Allowance for credit losses on
     lending-related commitments*                           37    38    25
                                                          ----  ----  ----
        Total allowance for credit losses                  853   808   630
    Allowance for loan losses/Total loans                 1.68% 1.52% 1.16%
    Allowance for loan losses/Nonperforming loans           83    84   112

    * Included in "Accrued expenses and other liabilities" on the
    consolidated balance sheets.
    =======================================================================

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $67.4 billion and $5.0 billion, respectively, at March 31, 2009, compared to $67.5 billion and $5.0 billion, respectively, at December 31, 2008. To further preserve and enhance Comerica's balance sheet strength in the continuing economic downturn, Comerica reduced the quarterly cash dividend rate to $0.05 per common share in the first quarter 2009, from $0.33 per common share in the fourth quarter 2008. This action enables the retention of nearly $170 million per annum in tangible equity. There were approximately 151 million common shares outstanding at March 31, 2009. No shares were repurchased in the open market in the first quarter 2009.

Comerica's tangible common equity ratio was 7.27 percent at March 31, 2009. The estimated Tier 1 common, Tier 1 and total risk-based capital ratios were 7.33 percent, 11.08 percent and 15.39 percent, respectively.

2009 Outlook

    --  Management expects to focus on new and expanding existing relationships.
        Management expects subdued loan demand in light of the rapidly
        contracting domestic economy.
    --  Management expects the net interest margin to expand during the
        remainder of the year with improved loan pricing and the runoff of
        higher-cost time deposits and debt.  The target federal funds and
        short-term LIBOR rates are expected to remain flat for the remainder of
        2009.
    --  Based on no significant further deterioration of the economic
        environment, management expects net credit-related charge-offs for
        full-year 2009 to be $650 million to $700 million. The provision for
        credit losses is expected to exceed net charge-offs.

    --  Management expects a mid-single digit decrease in full-year 2009
        noninterest expenses, compared to full-year 2008, due to control of
        discretionary expenses and workforce.

Business Segments

Comerica's continuing operations are strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. The Finance Division also is included as a segment. The financial results below are based on the internal business unit structure of the Corporation and methodologies in effect at March 31, 2009 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2009 results compared to fourth quarter 2008.

The following table presents net income (loss) by business segment.

    -----------------------------------------------------------------------
                                           1st Qtr    4th Qtr     1st Qtr
    (dollar amounts in millions)             '09        '08         '08
    -----------------------------------------------------------------------
    Business Bank                         $56   91%  $53   165%   $62   51%
    Retail Bank                            (7) (12)  (34) (105)    40   33
    Wealth & Institutional Management      13   21    13    40     20   16
    -----------------------------------------------------------------------
                                           62  100%   32   100%   122  100%
    Finance                               (50)       (37)          (3)
    Other*                                 (3)        25          (10)
    -----------------------------------------------------------------------
         Total                             $9        $20         $109
    =======================================================================

    * Includes discontinued operations and items not directly associated
    with the three major business segments or the Finance Division.
    =======================================================================

Business Bank

    ------------------------------------------------------------------------
    (dollar amounts in millions)       1st Qtr '09  4th Qtr '08  1st Qtr '08
    ------------------------------------------------------------------------
    Net interest income (FTE)             $312         $329         $329
    Provision for loan losses              177          138          146
    Noninterest income                      93           61           74
    Noninterest expenses                   157          172          177
    Net income                              56           53           62

    Net credit-related charge-offs         123          101           99

    Selected average balances:
    Assets                              39,505       41,332       42,129
    Loans                               38,527       40,245       41,219
       FSD loans                           212          323          802
    Deposits                            14,040       13,789       15,877
       FSD deposits                      1,886        2,154        2,988

    Net interest margin                   3.28%        3.24%        3.21%
    ========================================================================

    --  Average loans, excluding the Financial Services Division, decreased $1.6
        billion, reflecting declines in Middle Market, National Dealer Finance
        and Global Corporate. Financial Services Division loans decreased $111
        million.
    --  Average deposits, excluding the Financial Services Division, increased
        $519 million, primarily due to an increase in Global Corporate,
        partially offset by a decline in Middle Market. Financial Services
        Division deposits decreased $268 million.
    --  The net interest margin of 3.28 percent increased four basis points,
        primarily due to an increase in loan spreads and an increase in
        noninterest-bearing deposit balances, partially offset by a decrease in
        deposit spreads.
    --  The provision for loan losses increased $39 million primarily due to an
        increase in Middle Market.
    --  Noninterest income increased $32 million, primarily due to a $24 million
        pre-tax gain on the termination of certain structured lease transactions
        and increases in services charges on deposits and commercial lending
        fees.

    --  Noninterest expenses decreased $15 million, primarily due to a decline
        in allocated corporate overhead expenses, partially due to a decrease in
        severance-related expenses of support units, and a decrease in Financial
        Services Division-related customer service expense.

Retail Bank

    -----------------------------------------------------------------------
    (dollar amounts in millions)      1st Qtr '09  4th Qtr '08  1st Qtr '08
    -----------------------------------------------------------------------
    Net interest income (FTE)             $126         $129         $148
    Provision for loan losses               23           44           18
    Noninterest income                      46           49           74
    Noninterest expenses                   161          180          142
    Net income                              (7)         (34)          40

    Net credit-related charge-offs          26           23           10

    Selected average balances:
    Assets                               6,875        7,007        7,144
    Loans                                6,284        6,379        6,276
    Deposits                            17,391       17,065       17,163

    Net interest margin                   2.93%        3.01%        3.48%
    =======================================================================

    --  Average loans decreased $95 million.
    --  Average deposits increased $326 million, primarily due to an increase in
        interest-bearing time deposits.
    --  The net interest margin of 2.93 percent declined eight basis points,
        primarily due to a decrease in loan spreads, partially offset by an
        increase in noninterest-bearing deposit balances and deposit spreads.
    --  The provision for loan losses decreased $21 million, due to both Small
        Business and Personal Banking.

    --  Noninterest expenses decreased $19 million, primarily due to decreases
        in workforce-reduction related salaries and benefits, incentives and
        allocated corporate overhead, partially due to decreases in
        severance-related expenses of support units.

Wealth and Institutional Management

    -----------------------------------------------------------------------
    (dollar amounts in millions)      1st Qtr '09  4th Qtr '08  1st Qtr '08
    -----------------------------------------------------------------------
    Net interest income (FTE)              $36          $38          $36
    Provision for loan losses               10           13            -
    Noninterest income                      70           73           75
    Noninterest expenses                    75           80           79
    Net income                              13           13           20

    Net credit-related charge-offs           8            9            1

    Selected average balances:
    Assets                               4,870        4,879        4,468
    Loans                                4,750        4,724        4,315
    Deposits                             2,429        2,255        2,637

    Net interest margin                   3.11%        3.14%        3.34%
    =======================================================================

    --  Average deposits increased $174 million, primarily due to an increase in
        noninterest-bearing transaction accounts.
    --  The net interest margin of 3.11 percent declined three basis points,
        primarily due to a decline in loan spreads, partially offset by an
        increase in noninterest-bearing deposit balances.
    --  The provision for loan losses decreased $3 million.
    --  Noninterest income decreased $3 million, primarily due to a decline in
        fiduciary income.

    --  Noninterest expenses decreased $5 million, primarily due to decreases in
        workforce-reduction related salaries and benefits, incentives and
        allocated corporate overhead, in part due to decreases in
        severance-related expenses of support units, partially offset by the
        fourth quarter 2008 reversal of $8 million of the auction-rate
        securities charge taken in the third quarter 2008.

Geographic Market Segments

Comerica also provides market segment results for four primary geographic markets: Midwest, Western, Texas and Florida. In addition to the four primary geographic markets, Other Markets and International are also reported as market segments. The financial results below are based on methodologies in effect at March 31, 2009 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2009 results compared to fourth quarter 2008.

The following table presents net income (loss) by market segment.

    ------------------------------------------------------------------
                                      1st Qtr     4th Qtr    1st Qtr
    (dollar amounts in millions)        '09         '08        '08
    ------------------------------------------------------------------
    Midwest                          $29   49%   $14   44%   $88   71%
    Western                           (7) (11)     2    7    (10)  (8)
    Texas                             15   23      4   13     20   16
    Florida                           (6) (10)    (7) (22)    (4)  (3)
    Other Markets                     22   34     15   46     18   15
    International                      9   15      4   12     10    9
    ------------------------------------------------------------------
                                      62  100%    32  100%   122  100%
    Finance & Other Businesses*      (53)        (12)        (13)
    ------------------------------------------------------------------
         Total                        $9         $20        $109
    ==================================================================

    * Includes discontinued operations and items not directly
    associated with the geographic markets.
    ==================================================================

Midwest

    ---------------------------------------------------------------------
                                        1st Qtr      4th Qtr      1st Qtr
    (dollar amounts in millions)          '09          '08          '08
    ---------------------------------------------------------------------
    Net interest income (FTE)             $194         $202         $205
    Provision for loan losses               83           59           20
    Noninterest income                     127          109          136
    Noninterest expenses                   194          218          185
    Net income                              29           14           88

    Net credit-related charge-offs          54           38           28

    Selected average balances:
    Assets                              19,139       19,942       19,597
    Loans                               18,267       18,966       18,985
    Deposits                            16,699       16,204       16,079

    Net interest margin                   4.30%        4.21%        4.32%
    =====================================================================

    --  Average loans decreased $699 million, reflecting declines in Middle
        Market and Global Corporate.
    --  Average deposits increased $495 million, due to increases in Global
        Corporate and Personal Banking deposits.
    --  The net interest margin of 4.30 percent increased nine basis points,
        primarily due to an increase in deposit spreads and noninterest-bearing
        deposit balances.
    --  The provision for loan losses increased $24 million, primarily due to an
        increase in Middle Market.
    --  Noninterest income increased $18 million, primarily due to a $24 million
        pre-tax gain on the termination of certain structured lease
        transactions, partially offset by a $3 million decline in fiduciary
        income.

    --  Noninterest expenses decreased $24 million, primarily due to decreases
        in workforce-reduction related salaries and benefits, incentives and
        allocated corporate overhead, partially due to decreases in
        severance-related expenses of support units.

Western Market

    -----------------------------------------------------------------------
    (dollar amounts in millions)      1st Qtr '09  4th Qtr '08  1st Qtr '08
    -----------------------------------------------------------------------
    Net interest income (FTE)             $146         $157         $172
    Provision for loan losses               88           70          114
    Noninterest income                      36           34           33
    Noninterest expenses                   104          114          108
    Net income (loss)                       (7)           2          (10)

    Net credit-related charge-offs          76           65           66

    Selected average balances:
    Assets                              15,443       16,243       17,287
    Loans                               15,253       16,032       16,906
      FSD loans                            212          323          802
    Deposits                            10,640       10,762       12,849
      FSD deposits                       1,746        1,969        2,802

    Net interest margin                   3.91%        3.88%        4.08%
    =======================================================================

    --  Average loans, excluding the Financial Services Division, decreased $668
        million due to declines in National Dealer Services, Middle Market and
        Commercial Real Estate.  Financial Services Division loans decreased
        $111 million.
    --  Average deposits, excluding the Financial Services Division, increased
        $101 million, primarily due to an increase in Private Banking, partially
        offset by a decrease in Technology and Life Sciences. Financial Services
        Division deposits decreased $223 million.
    --  The net interest margin of 3.91 percent increased three basis points,
        partially due to an increase in loan spreads.
    --  The provision for loan losses increased $18 million, primarily due to an
        increase in Middle Market.

    --  Noninterest expenses decreased $10 million, primarily due to decreases
        in workforce-reduction related salaries and benefits, incentives,
        Financial Services Division-related customer service expenses and
        allocated corporate overhead, partially due to severance-related
        expenses of support units.

Texas Market

    -------------------------------------------------------------------------
    (dollar amounts in millions)        1st Qtr '09  4th Qtr '08  1st Qtr '08
    -------------------------------------------------------------------------
    Net interest income (FTE)               $70          $72          $74
    Provision for loan losses                 9           19            8
    Noninterest income                       21           20           24
    Noninterest expenses                     58           63           58
    Net income                               15            4           20

    Total net credit-related
     charge-offs                              8            8            5

    Selected average balances:
    Assets                                8,069        8,215        7,932
    Loans                                 7,847        7,974        7,642
    Deposits                              4,198        4,070        4,005

    Net interest margin                    3.62%        3.57%        3.84%
    =========================================================================

    --  Average loans decreased $127 million, primarily due to decreases in
        Middle Market and National Dealer Services.
    --  Average deposits increased $128 million, primarily due to increases in
        Personal Banking and Global Corporate deposits.
    --  The net interest margin of 3.62 percent increased five basis points,
        primarily due to an increase in loan spreads and noninterest-bearing
        deposit balances, partially offset by a decrease in deposit spreads.
    --  The provision for loan losses decreased $10 million, due to Small
        Business and Energy lending.

    --  Noninterest expenses decreased $5 million, primarily due to decreases in
        workforce-reduction related salaries and benefits, incentives and
        allocated corporate overhead, partially due to decreases in severance
        and related expenses of support units.

Florida Market

    -------------------------------------------------------------------------
    (dollar amounts in millions)      1st Qtr '09   4th Qtr '08   1st Qtr '08
    -------------------------------------------------------------------------
    Net interest income (FTE)              $11          $11          $11
    Provision for loan losses               15           14           12
    Noninterest income                       3            4            5
    Noninterest expenses                     8           11           10
    Net income (loss)                       (6)          (7)          (4)

    Net credit-related charge-offs          12            6           10

    Selected average balances:
    Assets                               1,869        1,938        1,891
    Loans                                1,878        1,942        1,877
    Deposits                               253          222          362

    Net interest margin                   2.31%        2.26%        2.56%
    =========================================================================

    --  Average loans decreased $64 million, primarily due to declines in Middle
        Market and National Dealer Services.
    --  Average deposits increased $31 million, due to increases in Commercial
        Real Estate and Private Banking.
    --  The net interest margin of 2.31 percent increased five basis points,
        primarily due to an increase in deposit spreads, partially offset by a
        decline in loan spreads.

    --  Noninterest expenses decreased $3 million, primarily due to decreases in
        workforce-reduction related salaries and benefits, incentives and
        allocated corporate overhead, partially due to decreases in
        severance-related expenses of support units.

Conference Call and Webcast

Comerica will host a conference call to review first quarter 2009 financial results at 7 a.m. CT Tuesday, April 21, 2009. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 90513349). The call and supplemental financial information can also be accessed on the Internet at www.comerica.com. A replay will be available approximately two hours following the conference call through April 30, 2009. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 90513349). A replay of the Webcast can also be accessed via Comerica's "Investor Relations" page at www.comerica.com.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada, China and Mexico.

Forward-looking Statements

Any statements in this news release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "feels," "expects," "estimates," "seeks," "strives," "plans," "intends," "outlook," "forecast," "position," "target," "mission," "assume," "achievable," "potential," "strategy," "goal," "aspiration," "outcome," "continue," "remain," "maintain," "trend," "objective" and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "might," "can," "may" or similar expressions, as they relate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated on the beliefs and assumptions of Comerica's management based on information known to Comerica's management as of the date of this news release and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives of Comerica's management for future or past operations, products or services, and forecasts of Comerica's revenue, earnings or other measures of economic performance, including statements of profitability, business segments and subsidiaries, estimates of credit trends and global stability. Such statements reflect the view of Comerica's management as of this date with respect to future events and are subject to risks and uncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica's actual results could differ materially from those discussed. Factors that could cause or contribute to such differences are further economic downturns, changes in the pace of an economic recovery and related changes in employment levels, changes in real estate values, fuel prices, energy costs or other events that could affect customer income levels or general economic conditions, changes related to the headquarters relocation or to its underlying assumptions, the effects of recently enacted legislation, such as the Emergency Economic Stabilization Act of 2008 and the American Recovery and Reinvestment Act of 2009, and actions taken by the U.S. Department of Treasury, the Board of Governors of the Federal Reserve System, the Texas Department of Banking and the Federal Deposit Insurance Corporation, the effects of war and other armed conflicts or acts of terrorism, the effects of natural disasters including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods, the disruption of private or public utilities, the implementation of Comerica's strategies and business models, management's ability to maintain and expand customer relationships, changes in customer borrowing, repayment, investment and deposit practices, management's ability to retain key officers and employees, changes in the accounting treatment of any particular item, the impact of regulatory examinations, declines or other changes in the businesses or industries in which Comerica has a concentration of loans, including, but not limited to, the automotive production industry and the real estate business lines, the anticipated performance of any new banking centers, the entry of new competitors in Comerica's markets, changes in the level of fee income, changes in applicable laws and regulations, including those concerning taxes, banking, securities and insurance, changes in trade, monetary and fiscal policies, including the interest rate policies of the Board of Governors of the Federal Reserve System, fluctuations in inflation or interest rates, changes in general economic, political or industry conditions and related credit and market conditions, the interdependence of financial service companies and adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. For discussion of factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this news release or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

    CONSOLIDATED FINANCIAL HIGHLIGHTS
    Comerica Incorporated and Subsidiaries

    ------------------------------------------------------------------------
                                                    Three Months Ended
                                              ------------------------------
                                                March     December   March
    (in millions, except per share data)      31, 2009    31, 2008  31, 2008
    ------------------------------------------------------------------------
    PER COMMON SHARE AND COMMON
     STOCK DATA
    Diluted net income (loss)                  $(0.16)      $0.02    $0.73
    Cash dividends declared                      0.05        0.33     0.66
    Common shareholders' equity (at
     period end)                                33.32       33.31    34.93

    Average diluted shares (in thousands)     151,353     150,834  150,734
    ------------------------------------------------------------------------
    KEY RATIOS
    Return on average common
     shareholders' equity                       (1.90)%      0.19%    8.42%
    Return on average assets                     0.06        0.12     0.68
    Tier 1 common capital ratio *                7.33        7.08     6.75
    Tier 1 risk-based capital ratio *           11.08       10.66     7.40
    Total risk-based capital ratio *            15.39       14.72    11.06
    Leverage ratio *                            11.65       11.77     8.82
    Tangible common equity ratio                 7.27        7.21     7.62
    ------------------------------------------------------------------------
    AVERAGE BALANCES
    Commercial loans                          $27,180     $28,507  $29,178
    Real estate construction loans              4,510       4,536    4,811
    Commercial mortgage loans                  10,431      10,613   10,142
    Residential mortgage loans                  1,846       1,851    1,916
    Consumer loans                              2,574       2,639    2,449
    Lease financing                             1,300       1,359    1,347
    International loans                         1,715       1,833    2,009
                                                -----       -----    -----
    Total loans                                49,556      51,338   51,852

    Earning assets                             61,752      61,134   59,518
    Total assets                               66,737      65,981   63,927
    Noninterest-bearing deposits               11,364      10,575   10,622
    Interest-bearing core deposits             22,468      22,523   24,986
    Total core deposits                        33,832      33,098   35,608
    Common shareholders' equity                 5,024       5,206    5,192
    Total shareholders' equity                  7,155       6,301    5,192
    ------------------------------------------------------------------------
    NET INTEREST INCOME
    Net interest income (fully taxable
     equivalent basis)                           $386        $434     $477
    Fully taxable equivalent adjustment             2           3        1
    Net interest margin                          2.53%       2.82%    3.22%
    ------------------------------------------------------------------------
    CREDIT QUALITY
    Nonaccrual loans                             $982        $917     $538
    Reduced-rate loans                              -           -        -
                                                 ----        ----     ----
    Total nonperforming loans                     982         917      538
    Foreclosed property                            91          66       22
                                                 ----        ----     ----
    Total nonperforming assets                  1,073         983      560

    Loans past due 90 days or more and
     still accruing                               207         125       80

    Gross loan charge-offs                        161         144      116
    Loan recoveries                                 4          11        6
                                                 ----        ----     ----
    Net loan charge-offs                          157         133      110
    Lending-related commitment
     charge-offs                                    -           -        -
                                                 ----        ----     ----
    Total net credit-related charge-offs          157         133      110

    Allowance for loan losses                     816         770      605
    Allowance for credit losses on
     lending-related commitments                   37          38       25
                                                 ----        ----     ----
    Total allowance for credit losses             853         808      630

    Allowance for loan losses as a
     percentage of total loans                   1.68%       1.52%    1.16%
    Net loan charge-offs as a percentage
     of average total loans                      1.26        1.04     0.85
    Net credit-related charge-offs as a
     percentage of average total loans           1.26        1.04     0.85
    Nonperforming assets as a
     percentage of total loans and
     foreclosed property                         2.20        1.94     1.07
    Allowance for loan losses as a
     percentage of total
     nonperforming loans                           83          84      112
    ------------------------------------------------------------------------

    * March 31, 2009 ratios are estimated

    CONSOLIDATED BALANCE SHEETS
    Comerica Incorporated and Subsidiaries

    -------------------------------------------------------------------
    (in millions, except                March       December    March
     share data)                      31, 2009      31, 2008   31, 2008
    -------------------------------------------------------------------

    ASSETS
    Cash and due from banks             $952          $913     $1,929
    Federal funds sold and
     securities purchased
     under agreements to resell            -           202         45
    Interest-bearing deposits
     with banks                        2,558         2,308         12
    Other short-term
     investments                         248           158        344

    Investment securities
     available-for-sale               10,844         9,201      8,563
    Commercial loans                  26,431        27,999     29,475
    Real estate construction
     loans                             4,379         4,477      4,769
    Commercial mortgage loans         10,514        10,489     10,359
    Residential mortgage loans         1,836         1,852      1,926
    Consumer loans                     2,577         2,592      2,448
    Lease financing                    1,232         1,343      1,341
    International loans                1,655         1,753      2,034
    -------------------------------------------------------------------
      Total loans                     48,624        50,505     52,352
    Less allowance for loan
     losses                             (816)         (770)      (605)
    -------------------------------------------------------------------
      Net loans                       47,808        49,735     51,747

    Premises and equipment               676           683        670
    Customers' liability on
     acceptances outstanding              10            14         28
    Accrued income and other
     assets                            4,274         4,334      3,679
    -------------------------------------------------------------------
      Total assets                   $67,370       $67,548    $67,017
    ===================================================================

    LIABILITIES AND SHAREHOLDERS'
     EQUITY
    Noninterest-bearing
     deposits                        $12,645       $11,701    $12,792
    Money market and NOW
     deposits                         12,240        12,437     15,601
    Savings deposits                   1,328         1,247      1,408
    Customer certificates of
     deposit                           8,815         8,807      8,191
    Other time deposits                6,372         7,293      7,752
    Foreign office time
     deposits                            494           470      1,075
    -------------------------------------------------------------------
      Total interest-
       bearing deposits               29,249        30,254     34,027
    -------------------------------------------------------------------
      Total deposits                  41,894        41,955     46,819

    Short-term borrowings              2,207         1,749      2,434
    Acceptances outstanding               10            14         28
    Accrued expenses and other
     liabilities                       1,464         1,625      1,679
    Medium- and long-term debt        14,612        15,053     10,800
    -------------------------------------------------------------------
      Total liabilities               60,187        60,396     61,760

    Fixed rate cumulative perpetual
     preferred stock, series F,
     no par value, $1,000
     liquidation value per share:
      Authorized - 2,250,000
       shares
      Issued - 2,250,000 shares
       at 3/31/09 and 12/31/08         2,134         2,129          -
    Common stock - $5 par value:
      Authorized - 325,000,000
       shares
      Issued - 178,735,252
       shares at 3/31/09,
       12/31/08 and 3/31/08              894           894        894
    Capital surplus                      727           722        565
    Accumulated other
     comprehensive loss                 (238)         (309)       (67)
    Retained earnings                  5,252         5,345      5,496
    Less cost of common stock in
     treasury -27,580,899 shares
     at 3/31/09, 28,244,967 shares
     at 12/31/08 and 28,233,996
     shares at 3/31/08                (1,586)       (1,629)    (1,631)
    -------------------------------------------------------------------
      Total
       shareholders' equity            7,183         7,152      5,257
    -------------------------------------------------------------------
      Total liabilities
       and shareholders' equity      $67,370       $67,548    $67,017
    ===================================================================

    CONSOLIDATED STATEMENTS OF INCOME
    Comerica Incorporated and Subsidiaries

    -------------------------------------------------------------------------
                                                                Three Months
                                                                    Ended
                                                                  March 31,
                                                                  ---------
    (in millions, except per share data)                         2009   2008
    -------------------------------------------------------------------------

    INTEREST INCOME
    Interest and fees on loans                                   $452   $770
    Interest on investment securities                             109     88
    Interest on short-term investments                              2      5
    -------------------------------------------------------------------------
        Total interest income                                     563    863

    INTEREST EXPENSE
    Interest on deposits                                          125    253
    Interest on short-term borrowings                               2     29
    Interest on medium- and long-term debt                         52    105
    -------------------------------------------------------------------------
        Total interest expense                                    179    387
    -------------------------------------------------------------------------
        Net interest income                                       384    476
    Provision for loan losses                                     203    159
    -------------------------------------------------------------------------
        Net interest income after provision for loan losses       181    317

    NONINTEREST INCOME
    Service charges on deposit accounts                            58     58
    Fiduciary income                                               42     52
    Commercial lending fees                                        18     16
    Letter of credit fees                                          16     15
    Card fees                                                      12     14
    Brokerage fees                                                  9     10
    Foreign exchange income                                         9     10
    Bank-owned life insurance                                       8     10
    Net securities gains                                           13     22
    Other noninterest income                                       38     30
    -------------------------------------------------------------------------
        Total noninterest income                                  223    237

    NONINTEREST EXPENSES
    Salaries                                                      171    200
    Employee benefits                                              55     47
    -------------------------------------------------------------------------
      Total salaries and employee benefits                        226    247
    Net occupancy expense                                          41     38
    Equipment expense                                              16     15
    Outside processing fee expense                                 25     23
    Software expense                                               20     19
    FDIC insurance expense                                         15      2
    Customer services                                               -      6
    Litigation and operational losses (recoveries)                  2     (8)
    Provision for credit losses on lending-related
     commitments                                                   (1)     4
    Other noninterest expenses                                     53     57
    -------------------------------------------------------------------------
        Total noninterest expenses                                397    403
    -------------------------------------------------------------------------
    Income from continuing operations before income taxes           7    151
    Provision (benefit) for income taxes                           (1)    41
    -------------------------------------------------------------------------
    Income from continuing operations                               8    110
    Income (loss) from discontinued operations, net of tax          1     (1)
    -------------------------------------------------------------------------
    NET INCOME                                                      9    109
    Preferred stock dividends                                      33      -
    -------------------------------------------------------------------------
    Net income (loss) applicable to common stock                 $(24)  $109
    =========================================================================

    Basic earnings per common share:
         Income (loss) from continuing operations              $(0.16) $0.73
         Net income (loss)                                      (0.16)  0.73

    Diluted earnings per common share:
         Income (loss) from continuing operations               (0.16)  0.73
         Net income (loss)                                      (0.16)  0.73

    Cash dividends declared on common stock                         7     99
    Cash dividends declared per common share                     0.05   0.66
    =========================================================================

    CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
    Comerica Incorporated and Subsidiaries

    ------------------------------------------------------------------------
                                    First    Fourth   Third   Second  First
    (in millions, except per       Quarter  Quarter  Quarter Quarter Quarter
     share data)                     2009     2008     2008    2008    2008
    ------------------------------------------------------------------------

    INTEREST INCOME
    Interest and fees on loans       $452     $612     $634    $633    $770
    Interest on investment
     securities                       109      101       99     101      88
    Interest on short-term
     investments                        2        3        2       3       5
    ------------------------------------------------------------------------
      Total interest income           563      716      735     737     863

    INTEREST EXPENSE
    Interest on deposits              125      158      141     182     253
    Interest on short-term
     borrowings                         2        9       30      19      29
    Interest on medium- and long-
     term debt                         52      118       98      94     105
    ------------------------------------------------------------------------
      Total interest
       expense                        179      285      269     295     387
    ------------------------------------------------------------------------
      Net interest income             384      431      466     442     476
    Provision for loan losses         203      192      165     170     159
    ------------------------------------------------------------------------
      Net interest income after
       provision for loan losses      181      239      301     272     317

    NONINTEREST INCOME
    Service charges on deposit
     accounts                          58       55       57      59      58
    Fiduciary income                   42       47       49      51      52
    Commercial lending fees            18       16       17      20      16
    Letter of credit fees              16       17       19      18      15
    Card fees                          12       13       15      16      14
    Brokerage fees                      9       12       10      10      10
    Foreign exchange income             9        7       11      12      10
    Bank-owned life insurance           8        9       11       8      10
    Net securities gains               13        4       27      14      22
    Other noninterest income           38       (6)      24      34      30
    ------------------------------------------------------------------------
      Total noninterest
       income                         223      174      240     242     237

    NONINTEREST EXPENSES
    Salaries                          171      187      192     202     200
    Employee benefits                  55       53       46      48      47
    ------------------------------------------------------------------------
         Total salaries and
          employee benefits           226      240      238     250     247
    Net occupancy expense              41       42       40      36      38
    Equipment expense                  16       16       15      16      15
    Outside processing fee
     expense                           25       27       26      28      23
    Software expense                   20       19       18      20      19
    FDIC insurance expense             15        7        6       2       2
    Customer services                   -        2        2       3       6
    Litigation and operational
     losses (recoveries)                2        3      105       3      (8)
    Provision for credit losses
     on lending-related commitments    (1)      (2)       9       7       4
    Other noninterest expenses         53       57       55      58      57
    ------------------------------------------------------------------------
      Total noninterest
       expenses                       397      411      514     423     403
    ------------------------------------------------------------------------
    Income from continuing
     operations before income taxes     7        2       27      91     151
    Provision (benefit) for
     income taxes                      (1)     (17)       -      35      41
    ------------------------------------------------------------------------
    Income from continuing
     operations                         8       19       27      56     110
    Income (loss) from
     discontinued operations,
     net of tax                         1        1        1       -      (1)
    ------------------------------------------------------------------------
    NET INCOME                          9       20       28      56     109
    Preferred stock dividends          33       17        -       -       -
    ------------------------------------------------------------------------
    Net income (loss) applicable
     to common stock                 $(24)      $3      $28     $56    $109
    ========================================================================

    Basic earnings per common
     share:
         Income (loss) from
          continuing operations    $(0.16)   $0.01    $0.18   $0.37   $0.73
         Net income (loss)          (0.16)    0.02     0.19    0.37    0.73

    Diluted earnings per common
     share:
         Income (loss) from
          continuing operations     (0.16)    0.01     0.18    0.37    0.73
         Net income (loss)          (0.16)    0.02     0.19    0.37    0.73

    Cash dividends declared on
     common stock                       7       50       99     100      99
    Cash dividends declared per
     common share                    0.05     0.33     0.66    0.66    0.66
    ========================================================================

    N/M - Not meaningful



    ------------------------------------------------------------------------
                                         First Quarter 2009 Compared To:
                                  ------------------------------------------
    (in millions, except per       Fourth Quarter 2008    First Quarter 2008
     share data)                    Amount    Percent     Amount    Percent
    ------------------------------------------------------------------------

    INTEREST INCOME
    Interest and fees on loans      $(160)       (26)%    $(318)       (41)%
    Interest on investment
     securities                         8          8         21         24
    Interest on short-term
     investments                       (1)       (32)        (3)       (61)
    ------------------------------------------------------------------------
      Total interest income          (153)       (21)      (300)       (35)

    INTEREST EXPENSE
    Interest on deposits              (33)       (21)      (128)       (51)
    Interest on short-term
     borrowings                        (7)       (81)       (27)       (94)
    Interest on medium- and long-
     term debt                        (66)       (56)       (53)       (51)
    ------------------------------------------------------------------------
      Total interest
       expense                       (106)       (37)      (208)       (54)
    ------------------------------------------------------------------------
      Net interest income             (47)       (11)       (92)       (19)
    Provision for loan losses          11          6         44         28
    ------------------------------------------------------------------------
      Net interest income after
       provision for loan losses      (58)       (24)      (136)       (43)

    NONINTEREST INCOME
    Service charges on deposit
     accounts                           3          4          -          -
    Fiduciary income                   (5)       (10)       (10)       (19)
    Commercial lending fees             2         12          2         14
    Letter of credit fees              (1)       (11)         1          3
    Card fees                          (1)       (12)        (2)       (18)
    Brokerage fees                     (3)       (21)        (1)       (14)
    Foreign exchange income             2         24         (1)        (7)
    Bank-owned life insurance          (1)        (6)        (2)       (13)
    Net securities gains                9        N/M         (9)       (40)
    Other noninterest income           44        N/M          8         25
    ------------------------------------------------------------------------
      Total noninterest income         49         28        (14)        (6)

    NONINTEREST EXPENSES
    Salaries                          (16)        (9)       (29)       (14)
    Employee benefits                   2          4          8         16
    ------------------------------------------------------------------------
         Total salaries and
          employee benefits           (14)        (6)       (21)        (9)
    Net occupancy expense              (1)        (1)         3          8
    Equipment expense                   -         (4)         1          3
    Outside processing fee
     expense                           (2)       (10)         2          8
    Software expense                    1          4          1          5
    FDIC insurance expense              8        N/M         13        N/M
    Customer services                  (2)       N/M         (6)       N/M
    Litigation and operational
     losses (recoveries)               (1)       (12)        10        N/M
    Provision for credit losses
     on lending-related commitments     1         55         (5)       N/M
    Other noninterest expenses         (4)        (7)        (4)        (6)
    ------------------------------------------------------------------------
      Total noninterest
       expenses                       (14)        (3)        (6)        (2)
    ------------------------------------------------------------------------
    Income from continuing
     operations before income taxes     5        N/M       (144)       (95)
    Provision (benefit) for
     income taxes                      16         92        (42)       N/M
    ------------------------------------------------------------------------
    Income from continuing
     operations                       (11)       (56)      (102)       (92)
    Income (loss) from
     discontinued operations,
     net of tax                         -         69          2        N/M
    ------------------------------------------------------------------------
    NET INCOME                        (11)       (52)      (100)       (91)
    Preferred stock dividends          16         93         33        N/M
    ------------------------------------------------------------------------
    Net income (loss) applicable
     to common stock                 $(27)       N/M%     $(133)       N/M%
    ========================================================================

    Basic earnings per common
     share:
         Income (loss) from
          continuing operations    $(0.17)       N/M%    $(0.89)       N/M%
         Net income (loss)          (0.18)       N/M      (0.89)       N/M

    Diluted earnings per common
     share:
         Income (loss) from
          continuing operations     (0.17)       N/M      (0.89)       N/M
         Net income (loss)          (0.18)       N/M      (0.89)       N/M

    Cash dividends declared on
     common stock                     (43)       (85)       (92)       (92)
    Cash dividends declared per
     common share                   (0.28)       (85)     (0.61)       (92)
    ========================================================================

    N/M - Not meaningful

    ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
    Comerica Incorporated and Subsidiaries

                                    2009                 2008
    -------------------------------------------------------------------------
    (in millions)                 1st Qtr  4th Qtr  3rd Qtr  2nd Qtr  1st Qtr
    -------------------------------------------------------------------------

    Balance at beginning of
     period                          $770     $712     $663     $605     $557

    Loan charge-offs:
        Commercial                     61       66       48       36       33
        Real estate construction:
            Commercial Real Estate
             business line             57       35       40       57       52
            Other business lines        -        -        -        -        1
    -------------------------------------------------------------------------
              Total real estate
               construction            57       35       40       57       53
        Commercial mortgage:
            Commercial Real Estate
             business line             16       21       17       14       20
            Other business lines       18        8       11        7        2
    -------------------------------------------------------------------------
              Total commercial
               mortgage                34       29       28       21       22
        Residential mortgage            2        5        1        1        -
        Consumer                        6        7        5        3        7
        Lease financing                 -        1        -        -        -
        International                   1        1        -        -        1
    -------------------------------------------------------------------------
            Total loan charge-
             offs                     161      144      122      118      116

    Recoveries on loans previously
     charged-off:
        Commercial                      3        6        3        5        3
        Real estate construction        -        1        1        -        1
        Commercial mortgage             -        2        -        1        1
        Residential mortgage            -        -        -        -        -
        Consumer                        1        1        1        -        1
        Lease financing                 -        -        1        -        -
        International                   -        1        -        -        -
    --------------------------------------------------------------------------
            Total recoveries            4       11        6        6        6
    --------------------------------------------------------------------------
    Net loan charge-offs              157      133      116      112      110
    Provision for loan losses         203      192      165      170      159
    Foreign currency translation
     adjustment                         -       (1)       -        -       (1)
    --------------------------------------------------------------------------
    Balance at end of period         $816     $770     $712     $663     $605
    ==========================================================================

    Allowance for loan losses as
     a percentage of total loans     1.68%    1.52%    1.38%    1.28%    1.16%

    Net loan charge-offs as a
     percentage of average total
     loans                           1.26     1.04     0.90     0.86     0.85

    Net credit-related charge-offs
     as a percentage of average
     total loans                     1.26     1.04     0.90     0.86     0.85
    ==========================================================================



    ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS
    Comerica Incorporated and Subsidiaries

    --------------------------------------------------------------------------
                                        2009                 2008
    --------------------------------------------------------------------------
    (in millions)                      1st Qtr 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr
    --------------------------------------------------------------------------

    Balance at beginning of period       $38      $40      $31     $25     $21
    Less: Charge-offs on
     lending-related
     commitments (1)                       -        -        -       1       -
    Add: Provision for credit losses
     on lending-related commitments       (1)      (2)       9       7       4
    --------------------------------------------------------------------------
    Balance at end of period             $37      $38      $40     $31     $25
    ==========================================================================

    Unfunded lending-related
     commitments sold                     $-       $-       $-      $2      $3
    ==========================================================================

    (1) Charge-offs result from the sale of unfunded lending-related
    commitments.

    NONPERFORMING ASSETS
    Comerica Incorporated and Subsidiaries

    ------------------------------------------------------------------------
                                             2009            2008
                                            --------------------------------
                                             1st    4th    3rd   2nd   1st
    (in millions)                            Qtr    Qtr    Qtr   Qtr   Qtr
    ------------------------------------------------------------------------

    SUMMARY OF NONPERFORMING
     ASSETS AND PAST DUE LOANS
    Nonaccrual loans:
        Commercial                           $258   $205  $206  $155    $87
        Real estate construction:
            Commercial Real
             Estate business line             426    429   386   322    271
            Other business lines                5      5     5     4      4
    ------------------------------------------------------------------------
                Total real estate
                 construction                 431    434   391   326    275
        Commercial mortgage:
            Commercial Real
             Estate business line             131    132   137   143    105
            Other business lines              138    130   114    95     64
    ------------------------------------------------------------------------
                Total commercial
                 mortgage                     269    262   251   238    169
        Residential mortgage                    8      7     8     4      1
        Consumer                                8      6     4     5      3
        Lease financing                         2      1     -     -      -
        International                           6      2     3     3      3
    ------------------------------------------------------------------------
                Total nonaccrual loans        982    917   863   731    538
    Reduced-rate loans                          -      -     -     -      -
    ------------------------------------------------------------------------
                Total nonperforming loans     982    917   863   731    538
    Foreclosed property                        91     66    18    17     22
                Total nonperforming
                 assets                    $1,073   $983  $881  $748   $560
    ========================================================================

    Nonperforming loans as a
     percentage of total loans               2.02%  1.82% 1.67% 1.41%  1.03%
    Nonperforming assets as a
     percentage of total loans
     and foreclosed property                 2.20   1.94  1.71  1.44   1.07
    Allowance for loan losses as
     a percentage of total
     nonperforming loans                       83     84    82    91    112
    Loans past due 90 days or
     more and still accruing                 $207   $125   $97  $112    $80


    ANALYSIS OF NONACCRUAL LOANS
    Nonaccrual loans at beginning of
     period                                  $917   $863  $731  $538   $391
         Loans transferred
          to nonaccrual (1)                   241    258   280   304    281
         Nonaccrual business loan
          gross charge-offs (2)              (153)  (132) (116) (113)  (108)
         Loans transferred to
          accrual status (1)                   (4)   (11)    -     -      -
         Nonaccrual business
          loans sold (3)                       (3)   (14)  (18)    -    (15)
         Payments/Other (4)                   (16)   (47)  (14)    2    (11)
    ------------------------------------------------------------------------
    Nonaccrual loans at end of period        $982   $917  $863  $731   $538
    ========================================================================

    (1) Based on an analysis of nonaccrual loans with book balances greater
    than $2 million.
    (2) Analysis of gross loan charge-offs:


          Nonaccrual business loans          $153   $132  $116  $113   $108
          Performing watch list loans           -      -     -     1      1
          Consumer and residential
           mortgage loans                       8     12     6     4      7
                                             -------------------------------
            Total gross loan
             charge-offs                     $161   $144  $122  $118   $116
                                             ===============================

    (3) Analysis of loans sold:


          Nonaccrual business loans            $3    $14   $18    $-    $15
          Performing watch list loans           -      -     3     7      6
                                             -------------------------------
            Total loans sold                   $3    $14   $21    $7    $21
                                             ===============================


    (4) Includes net changes related to nonaccrual loans with balances less
    than $2 million, payments on non-accrual loans with book balances greater
    than $2 million and transfers of nonaccrual loans to foreclosed property.
    Excludes business loan gross charge-offs and business nonaccrual loans
    sold.

    ANALYSIS OF NET INTEREST INCOME (FTE)
    Comerica Incorporated and Subsidiaries

    ------------------------------------------------------------------------
                                                     Three Months Ended
                                                     ------------------
                                                       March 31, 2009
                                                       --------------
                                                 Average            Average
    (dollar amounts in millions)                 Balance   Interest   Rate
    ------------------------------------------------------------------------

    Commercial loans (1) (2)                     $27,180      $228    3.39%
    Real estate construction loans                 4,510        33    2.99
    Commercial mortgage loans                     10,431       109    4.22
    Residential mortgage loans                     1,846        26    5.66
    Consumer loans                                 2,574        24    3.79
    Lease financing                                1,300         9    2.82
    International loans                            1,715        16    3.85
    Business loan swap income                          -         8       -
                                                  --------------------------
      Total loans (2)                             49,556       453    3.70

    Auction-rate securities available-for-sale     1,108         5    1.71
    Other investment securities available-for-
     sale                                          9,018       105    4.82
                                                  --------------------------
      Total investment securities available-for-
       sale                                       10,126       110    4.46

    Federal funds sold and securities purchased
      under agreements to resell                      57         -    0.32
    Interest-bearing deposits with banks           1,848         1    0.23
    Other short-term investments                     165         1    1.67
                                                  --------------------------
      Total earning assets                        61,752       565    3.71

    Cash and due from banks                          950
    Allowance for loan losses                       (832)
    Accrued income and other assets                4,867
                                                 -------
      Total assets                               $66,737
                                                 =======

    Money market and NOW deposits (1)            $12,334        19    0.63
    Savings deposits                               1,278         1    0.18
    Customer certificates of deposit               8,856        58    2.67
                                                  --------------------------
      Total interest-bearing core deposits        22,468        78    1.41
    Other time deposits                            6,280        46    3.01
    Foreign office time deposits                     670         1    0.42
                                                  --------------------------
      Total interest-bearing deposits             29,418       125    1.73

    Short-term borrowings                          2,362         2    0.29
    Medium- and long-term debt                    14,924        52    1.40
                                                  --------------------------
      Total interest-bearing sources              46,704       179    1.55
                                                               -------------

    Noninterest-bearing deposits (1)              11,364
    Accrued expenses and other liabilities         1,514
    Total shareholders' equity                     7,155
                                                 -------
      Total liabilities and shareholders' equity $66,737
                                                 =======

    Net interest income/rate spread (FTE)                     $386    2.16
                                                             =====

    FTE adjustment                                              $2
                                                             =====

    Impact of net noninterest-bearing
      sources of funds                                                0.37
    ------------------------------------------------------------------------
    Net interest margin (as a percentage
     of average earning assets) (FTE) (2)                             2.53%
    ========================================================================


    (1) FSD balances included above:
          Loans (primarily low-rate)                $212        $1    1.97%
          Interest-bearing deposits                  617         1    0.61
          Noninterest-bearing deposits             1,269
    (2) Impact of FSD loans (primarily
         low-rate) on the following:
          Commercial loans                                           (0.01)%
          Total loans                                                (0.01)
          Net interest margin (FTE)
           (assuming loans were funded by
           noninterest-bearing deposits)                             (0.01)


    ------------------------------------------------------------------------
                                                     Three Months Ended
                                                     ------------------
                                                      December 31, 2008
                                                      -----------------
                                                 Average            Average
    (dollar amounts in millions)                 Balance   Interest   Rate
    ------------------------------------------------------------------------

    Commercial loans (1) (2)                     $28,507      $334    4.65%
    Real estate construction loans                 4,536        46    4.08
    Commercial mortgage loans                     10,613       138    5.17
    Residential mortgage loans                     1,851        27    5.80
    Consumer loans                                 2,639        30    4.49
    Lease financing                                1,359        12    3.63
    International loans                            1,833        22    4.78
    Business loan swap income                          -         5       -
                                                  --------------------------
      Total loans (2)                             51,338       614    4.76

    Auction-rate securities available-for-sale       769         6    2.95
    Other investment securities available-for-
     sale                                          7,965        96    4.86
                                                  --------------------------
      Total investment securities available-for-
       sale                                        8,734       102    4.69

    Federal funds sold and securities purchased
      under agreements to resell                      75         -    0.83
    Interest-bearing deposits with banks             811         1    0.50
    Other short-term investments                     176         2    3.59
                                                  --------------------------
      Total earning assets                        61,134       719    4.68

    Cash and due from banks                        1,056
    Allowance for loan losses                       (780)
    Accrued income and other assets                4,571
                                                 -------
      Total assets                               $65,981
                                                 =======

    Money market and NOW deposits (1)            $12,670        37    1.16
    Savings deposits                               1,264         1    0.29
    Customer certificates of deposit               8,589        63    2.91
                                                  --------------------------
      Total interest-bearing core deposits        22,523       101    1.78
    Other time deposits                            6,702        56    3.35
    Foreign office time deposits                     516         1    0.81
                                                  --------------------------
      Total interest-bearing deposits             29,741       158    2.12

    Short-term borrowings                          2,808         9    1.27
    Medium- and long-term debt                    15,016       118    3.14
                                                  --------------------------
      Total interest-bearing sources              47,565       285    2.39
                                                               -------------

    Noninterest-bearing deposits (1)              10,575
    Accrued expenses and other liabilities         1,540
    Total shareholders' equity                     6,301
                                                  ------
      Total liabilities and shareholders' equity $65,981
                                                 =======

    Net interest income/rate spread (FTE)                     $434    2.29
                                                              ====

    FTE adjustment                                              $3
                                                              ====

    Impact of net noninterest-bearing
      sources of funds                                                0.53
    ------------------------------------------------------------------------
    Net interest margin (as a percentage
     of average earning assets) (FTE) (2)                             2.82%
    ========================================================================


    (1) FSD balances included above:
          Loans (primarily low-rate)                $323        $1    1.60%
          Interest-bearing deposits                  834         3    1.55
          Noninterest-bearing deposits             1,320
    (2) Impact of FSD loans (primarily
         low-rate) on the following:
          Commercial loans                                           (0.03)%
          Total loans                                                (0.02)
          Net interest margin (FTE)
           (assuming loans were funded
           by noninterest-bearing deposits)                              -


    -------------------------------------------------------------------------
                                                     Three Months Ended
                                                     ------------------
                                                       March 31, 2008
                                                       --------------
                                                 Average            Average
    (dollar amounts in millions)                 Balance   Interest   Rate
    ------------------------------------------------------------------------

    Commercial loans (1) (2)                     $29,178      $429    5.93%
    Real estate construction loans                 4,811        71    5.92
    Commercial mortgage loans                     10,142       159    6.29
    Residential mortgage loans                     1,916        29    6.01
    Consumer loans                                 2,449        37    6.02
    Lease financing                                1,347        11    3.22
    International loans                            2,009        30    6.01
    Business loan swap income                          -         5       -
                                                  --------------------------
      Total loans (2)                             51,852       771    5.98

    Auction-rate securities available-for-sale         -         -       -
    Other investment securities available-for-
     sale                                          7,222        88    4.93
                                                  --------------------------
      Total investment securities available-for-
       sale                                        7,222        88    4.93

    Federal funds sold and securities purchased
      under agreements to resell                      80         1    3.28
    Interest-bearing deposits with banks              19         -    2.79
    Other short-term investments                     345         4    4.43
                                                  --------------------------
      Total earning assets                        59,518       864    5.84

    Cash and due from banks                        1,240
    Allowance for loan losses                       (596)
    Accrued income and other assets                3,765
                                                 -------
      Total assets                               $63,927
                                                 =======

    Money market and NOW deposits (1)            $15,341        79    2.06
    Savings deposits                               1,359         2    0.64
    Customer certificates of deposit               8,286        84    4.07
                                                  --------------------------
      Total interest-bearing core deposits        24,986       165    2.65
    Other time deposits                            7,257        77    4.28
    Foreign office time deposits                   1,197        11    3.81
                                                  --------------------------
      Total interest-bearing deposits             33,440       253    3.05

    Short-term borrowings                          3,497        29    3.28
    Medium- and long-term debt                     9,856       105    4.27
                                                  --------------------------
      Total interest-bearing sources              46,793       387    3.32
                                                               -------------

    Noninterest-bearing deposits (1)              10,622
    Accrued expenses and other liabilities         1,320
    Total shareholders' equity                     5,192
                                                 -------
      Total liabilities and shareholders' equity $63,927
                                                 =======

    Net interest income/rate spread (FTE)                     $477    2.52
                                                              ====

    FTE adjustment                                              $1
                                                              ====

    Impact of net noninterest-bearing
      sources of funds                                                0.70
    ------------------------------------------------------------------------
    Net interest margin (as a percentage
     of average earning assets) (FTE) (2)                             3.22%
    ========================================================================


    (1) FSD balances included above:
         Loans (primarily low-rate)                 $802        $2    1.12%
         Interest-bearing deposits                 1,094         8    2.77
         Noninterest-bearing deposits              1,894
    (2) Impact of FSD loans (primarily
         low-rate) on the following:
          Commercial loans                                           (0.13)%
          Total loans                                                (0.08)
          Net interest margin (FTE)
           (assuming loans were funded
           by noninterest-bearing deposits)                          (0.03)

    CONSOLIDATED STATISTICAL DATA
    Comerica Incorporated and Subsidiaries

    -----------------------------------------------------------------
    (in millions, except per share     March     December   September
     data)                           31, 2009    31, 2008    30, 2008
    -----------------------------------------------------------------

    Commercial loans:
         Floor plan                   $1,763      $2,341      $2,151
         Other                        24,668      25,658      26,453
    -----------------------------------------------------------------
           Total commercial loans     26,431      27,999      28,604
    Real estate construction loans:
         Commercial Real Estate
          business line                3,711       3,831       3,937
         Other business lines            668         646         628
    -----------------------------------------------------------------
           Total real estate
            construction loans         4,379       4,477       4,565
    Commercial mortgage loans:
         Commercial Real Estate
          business line                1,659       1,619       1,668
         Other business lines          8,855       8,870       8,920
    -----------------------------------------------------------------
           Total commercial mortgage
            loans                     10,514      10,489      10,588
    Residential mortgage loans         1,836       1,852       1,863
    Consumer loans:
         Home equity                   1,791       1,781       1,693
         Other consumer                  786         811         951
    -----------------------------------------------------------------
           Total consumer loans        2,577       2,592       2,644
    -----------------------------------------------------------------
    Lease financing                    1,232       1,343       1,360
    International loans                1,655       1,753       1,931
    -----------------------------------------------------------------
           Total loans               $48,624     $50,505     $51,555
    =================================================================

    Goodwill                            $150        $150        $150
    Loan servicing rights                 10          11          12

    Tier 1 common capital ratio*        7.33%       7.08%       6.67%
    Tier 1 risk-based capital ratio*   11.08       10.66        7.32
    Total risk-based capital ratio *   15.39       14.72       11.19
    Leverage ratio*                    11.65       11.77        8.57
    Tangible common equity ratio        7.27        7.21        7.60

    Book value per common share       $33.32      $33.31      $33.89
    Market value per share for the
     quarter:
         High                         $21.20      $37.01      $43.99
         Low                           11.72       15.05       19.31
         Close                         18.31       19.85       32.79

    Quarterly ratios:
         Return on average common
          shareholders' equity         (1.90)%      0.19%       2.25%
         Return on average assets       0.06        0.12        0.18
         Efficiency ratio              66.61       68.19       75.53

    Number of banking centers            440         439         424

    Number of employees - full time
     equivalent                        9,696      10,186      10,347



    ----------------------------------------------------------------
                                                   June      March
    (in millions, except per share data)         30, 2008   31, 2008
    ----------------------------------------------------------------

    Commercial loans:
         Floor plan                               $2,645     $2,913
         Other                                    26,118     26,562
    ----------------------------------------------------------------
           Total commercial loans                 28,763     29,475
    Real estate construction loans:
         Commercial Real Estate business line      4,013      3,990
         Other business lines                        671        656
    ----------------------------------------------------------------
           Total real estate construction loans    4,684      4,646
    Commercial mortgage loans:
         Commercial Real Estate business line      1,620      1,541
         Other business lines                      8,884      8,941
    ----------------------------------------------------------------
           Total commercial mortgage loans        10,504     10,482
    Residential mortgage loans                     1,879      1,926
    Consumer loans:
         Home equity                               1,649      1,619
         Other consumer                              945        829
    ----------------------------------------------------------------
           Total consumer loans                    2,594      2,448
    ----------------------------------------------------------------
    Lease financing                                1,351      1,341
    International loans                            1,976      2,034
    ----------------------------------------------------------------
           Total loans                           $51,751    $52,352
    ================================================================

    Goodwill                                        $150       $150
    Loan servicing rights                             12         12

    Tier 1 common capital ratio*                    6.79%      6.75%
    Tier 1 risk-based capital ratio*                7.45       7.40
    Total risk-based capital ratio *               11.21      11.06
    Leverage ratio*                                 8.53       8.82
    Tangible common equity ratio                    7.47       7.62

    Book value per common share                   $33.78     $34.93
    Market value per share for the quarter:
         High                                     $40.62     $45.19
         Low                                       25.61      34.51
         Close                                     25.63      35.08

    Quarterly ratios:
         Return on average common shareholders'
          equity                                    4.25%      8.42%
         Return on average assets                   0.33       0.68
         Efficiency ratio                          63.02      58.25

    Number of banking centers                        416        420

    Number of employees - full time equivalent    10,530     10,643

    * March 31, 2009 ratios are estimated

    PARENT COMPANY ONLY BALANCE SHEETS
    Comerica Incorporated

    ----------------------------------------------------------------
     (in millions, except         March 31,   December 31,  March 31,
     share data)                   2009         2008         2008
    ----------------------------------------------------------------

    ASSETS
    Cash and due from
     subsidiary bank                 $15           $11       $119
    Short-term investments
     with subsidiary bank          2,229         2,329        120
    Other short-term
     investments                      75            80        103
    Investment in
     subsidiaries,
     principally banks             5,780         5,690      5,965
    Premises and equipment             4             5          3
    Other assets                     216           210        187
    ----------------------------------------------------------------
          Total assets            $8,319        $8,325     $6,497
    ================================================================

    LIABILITIES AND SHAREHOLDERS'
     EQUITY
    Medium- and long-term debt      $999        $1,002       $981
    Other liabilities                137           171        259
    ----------------------------------------------------------------
          Total liabilities        1,136         1,173      1,240

    Fixed rate cumulative
     perpetual preferred stock,
     series F, no par value,
     $1,000 liquidation
     preference per share:
      Authorized - 2,250,000
       shares
      Issued - 2,250,000 shares
      at 3/31/09 and 12/31/08      2,134         2,129          -
    Common stock - $5 par value:
      Authorized - 325,000,000
       shares
      Issued - 178,735,252 shares
       at 03/31/09, 12/31/08 and
       03/31/ 08                     894           894        894
    Capital surplus                  727           722        565
    Accumulated other
     comprehensive loss             (238)         (309)       (67)
    Retained earnings              5,252         5,345      5,496
    Less cost of common stock
     in treasury - 27,580,899
     shares at 3/31/09,
     28,244,967 shares at
     12/31/08 and  28,233,996
     shares at 3/31/08            (1,586)       (1,629)    (1,631)
    ----------------------------------------------------------------
          Total shareholders'
           equity                  7,183         7,152      5,257
    ----------------------------------------------------------------
          Total liabilities
           and shareholders'
           equity                 $8,319        $8,325     $6,497
    ================================================================



    CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
    Comerica Incorporated and Subsidiaries

    -----------------------------------------------------------------------
                                            Common Stock
    (in millions,        Nonredeemable   -------------------
     except per           Preferred        Shares                   Capital
     share data)            Stock        Outstanding  Amount        Surplus
    -----------------------------------------------------------------------

    BALANCE AT
     JANUARY 1,
     2008                     $-            150.0      $894           $564
    Net income                 -                -         -              -
    Other
     comprehensive
     income, net
     of tax                    -                -         -              -
    Total
     comprehensive
     income
    Cash
     dividends
     declared on
     common stock
     ($0.66 per
     share)                    -                -         -              -
    Net issuance
     of common
     stock under
     employee
     stock plans               -              0.5         -            (20)
    Share-based
     compensation              -                -         -             20
    Employee
     deferred
     compensation
     obligations               -                -         -              1
    -----------------------------------------------------------------------
    BALANCE AT
     MARCH 31,
     2008                     $-            150.5      $894           $565
    -----------------------------------------------------------------------

    BALANCE AT
     JANUARY 1,
     2009                 $2,129            150.5      $894           $722
    Net income                 -                -         -              -
    Other
     comprehensive
     income, net
     of tax                    -                -         -              -
    Total comprehensive
     income
    Cash
     dividends
     declared on
     preferred
     stock                     -                -         -              -
    Cash
     dividends
     declared on
     common stock
     ($0.05 per
     share)                    -                -         -              -
    Accretion of
     discount on
     preferred
     stock                     5                -         -              -
    Net issuance
     of common
     stock under
     employee
     stock plans               -              0.7         -            (12)
    Share-based
     compensation              -                -         -             11
    Other                      -                -         -              6
    -----------------------------------------------------------------------
    BALANCE AT
     MARCH 31,
     2009                 $2,134            151.2      $894           $727
    =======================================================================


    --------------------------------------------------------------------------
                        Accumulated
    (in millions,         Other                                     Total
     except per        Comprehensive      Retained   Treasury    Shareholders'
    share data)            Loss           Earnings    Stock         Equity
    --------------------------------------------------------------------------

    BALANCE AT
     JANUARY 1,
     2008                  $(177)          $5,497   $(1,661)        $5,117
    Net income                 -              109         -            109
    Other
     comprehensive
     income, net
     of tax                  110                -         -            110
                                                                    ------
    Total comprehensive
     income                                                            219
    Cash
     dividends
     declared on
     common stock
     ($0.66 per
     share)                    -              (99)        -            (99)
    Net issuance
     of common
     stock under
     employee
     stock plans               -              (11)       31              -
    Share-based
     compensation              -                -         -             20
    Employee
     deferred
     compensation
     obligations               -                -        (1)             -
    --------------------------------------------------------------------------
    BALANCE AT
     MARCH 31,
     2008                   $(67)          $5,496   $(1,631)        $5,257
    --------------------------------------------------------------------------

    BALANCE AT
     JANUARY 1,
     2009                  $(309)          $5,345   $(1,629)        $7,152
    Net income                 -                9         -              9
    Other
     comprehensive
     income, net
     of tax                   71                -         -             71
                                                                    ------
    Total comprehensive
     income                                                             80
    Cash
     dividends
     declared on
     preferred
     stock                     -              (57)        -            (57)
    Cash
     dividends
     declared on
     common stock
     ($0.05 per
     share)                    -               (7)        -             (7)
    Accretion of
     discount on
     preferred
     stock                     -               (5)        -              -
    Net issuance
     of common
     stock under
     employee
     stock plans               -              (33)       43             (2)
    Share-based
     compensation              -                -         -             11
    Other                      -                -         -              6
    -----------------------------------------------------------------------
    BALANCE AT
     MARCH 31,
     2009                  $(238)          $5,252   $(1,586)        $7,183
    =======================================================================

    BUSINESS SEGMENT FINANCIAL RESULTS
    Comerica Incorporated and Subsidiaries

    ------------------------------------------------------------------------
    (dollar amounts in millions)                                  Wealth &
    Three Months Ended                   Business  Retail      Institutional
     March 31, 2009                        Bank     Bank         Management
    ------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)                        $312    $126             $36
    Provision for loan losses                177      23              10
    Noninterest income                        93      46              70
    Noninterest expenses                     157     161              75
    Provision (benefit) for income
     taxes (FTE)                              15      (5)              8
    Income from discontinued
     operations, net of tax                    -       -               -
                                         --------------------------------
    Net income (loss)                        $56     $(7)            $13
                                         ================================
    Net credit-related charge-offs          $123     $26              $8

    Selected average balances:
    Assets                               $39,505  $6,875          $4,870
    Loans                                 38,527   6,284           4,750
    Deposits                              14,040  17,391           2,429
    Liabilities                           14,372  17,366           2,418
    Attributed equity                      3,346     658             340

    Statistical data:
    Return on average assets (1)            0.57%  (0.16)%          1.10%
    Return on average attributed
     equity                                 6.78   (4.48)          15.80
    Net interest margin (2)                 3.28    2.93            3.11
    Efficiency ratio                       38.55   94.01           74.09
    =====================================================================

                                                                 Wealth &
    Three Months Ended                   Business  Retail     Institutional
     December 31, 2008                     Bank     Bank        Management
    ------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)                        $329    $129             $38
    Provision for loan losses                138      44              13
    Noninterest income                        61      49              73
    Noninterest expenses                     172     180              80
    Provision (benefit) for income
     taxes (FTE)                              27     (12)              5
    Income from discontinued
     operations, net of tax                    -       -               -
                                         --------------------------------
    Net income (loss)                        $53    $(34)            $13
                                         ================================
    Net credit-related charge-offs          $101     $23              $9

    Selected average balances:
    Assets                               $41,332  $7,007          $4,879
    Loans                                 40,245   6,379           4,724
    Deposits                              13,789  17,065           2,255
    Liabilities                           14,367  17,053           2,300
    Attributed equity                      3,337     665             341

    Statistical data:
    Return on average assets (1)            0.51%  (0.76)%          1.05%
    Return on average attributed
     equity                                 6.33  (20.18)          15.03
    Net interest margin (2)                 3.24    3.01            3.14
    Efficiency ratio                       44.15  100.79           75.73
    =====================================================================


                                                                  Wealth &
    Three Months Ended                   Business  Retail      Institutional
     March 31, 2008                        Bank     Bank         Management
    ------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)                        $329    $148             $36
    Provision for loan losses                146      18               -
    Noninterest income                        74      74              75
    Noninterest expenses                     177     142              79
    Provision (benefit) for income
     taxes (FTE)                              18      22              12
    Income from discontinued
     operations, net of tax                    -       -               -
                                         --------------------------------
    Net income (loss)                        $62     $40             $20
                                         ================================
    Net credit-related charge-offs           $99     $10              $1

    Selected average balances:
    Assets                               $42,129  $7,144          $4,468
    Loans                                 41,219   6,276           4,315
    Deposits                              15,877  17,163           2,637
    Liabilities                           16,686  17,171           2,646
    Attributed equity                      3,168     725             331

    Statistical data:
    Return on average assets (1)            0.59%   0.89%           1.79%
    Return on average attributed
     equity                                 7.83   22.00           24.10
    Net interest margin (2)                 3.21    3.48            3.34
    Efficiency ratio                       44.05   70.99           70.95
    =====================================================================


    (dollar amounts in millions)
    Three Months Ended
     March 31, 2009                        Finance   Other          Total
    ---------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)                        $(99)    $11            $386
    Provision for loan losses                  -      (7)            203
    Noninterest income                        20      (6)            223
    Noninterest expenses                       4       -             397
    Provision (benefit) for income
     taxes (FTE)                             (33)     16               1
    Income from discontinued
     operations, net of tax                    -       1               1
                                         --------------------------------
    Net income (loss)                       $(50)    $(3)             $9
                                         ================================
    Net credit-related charge-offs            $-      $-            $157

    Selected average balances:
    Assets                               $12,703  $2,784         $66,737
    Loans                                     (4)     (1)         49,556
    Deposits                               6,786     136          40,782
    Liabilities                           24,915     511          59,582
    Attributed equity                      1,177   1,634           7,155

    Statistical data:
    Return on average assets (1)             N/M     N/M            0.06%
    Return on average attributed
     equity                                  N/M     N/M           (1.90)
    Net interest margin (2)                  N/M     N/M            2.53
    Efficiency ratio                         N/M     N/M           66.61
    =====================================================================


    Three Months Ended December
     31, 2008                              Finance   Other          Total
    ---------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)                        $(66)     $4            $434
    Provision for loan losses                  -      (3)            192
    Noninterest income                        13     (22)            174
    Noninterest expenses                       3     (24)            411
    Provision (benefit) for income
     taxes (FTE)                             (19)    (15)            (14)
    Income from discontinued
     operations, net of tax                    -       1               1
                                         --------------------------------
    Net income (loss)                       $(37)    $25             $20
                                         ================================
    Net credit-related charge-offs            $-      $-            $133

    Selected average balances:
    Assets                               $10,959  $1,804         $65,981
    Loans                                     (4)     (6)         51,338
    Deposits                               6,892     315          40,316
    Liabilities                           25,220     740          59,680
    Attributed equity                        979     979           6,301

    Statistical data:
    Return on average assets (1)             N/M     N/M            0.12%
    Return on average attributed
     equity                                  N/M     N/M            0.19
    Net interest margin (2)                  N/M     N/M            2.82
    Efficiency ratio                         N/M     N/M           68.19
    =====================================================================


    Three Months Ended
     March 31, 2008                        Finance   Other          Total
    ---------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)                        $(26)   $(10)           $477
    Provision for loan losses                  -      (5)            159
    Noninterest income                        18      (4)            237
    Noninterest expenses                       3       2             403
    Provision (benefit) for income
     taxes (FTE)                              (8)     (2)             42
    Income from discontinued
     operations, net of tax                    -      (1)             (1)
                                         --------------------------------
    Net income (loss)                        $(3)   $(10)           $109
                                         ================================
    Net credit-related charge-offs            $-      $-            $110

    Selected average balances:
    Assets                                $8,645  $1,541         $63,927
    Loans                                      5      37          51,852
    Deposits                               8,142     243          44,062
    Liabilities                           21,636     596          58,735
    Attributed equity                        903      65           5,192

    Statistical data:
    Return on average assets (1)             N/M     N/M            0.68%
    Return on average attributed
     equity                                  N/M     N/M            8.42
    Net interest margin (2)                  N/M     N/M            3.22
    Efficiency ratio                         N/M     N/M           58.25
    =====================================================================
    (1) Return on average assets is calculated based on the greater of
    average assets or average liabilities and attributed equity.
    (2) Net interest margin is calculated based on the greater of average
    earning assets or average deposits and purchased funds.
    FTE - Fully Taxable Equivalent
    N/M - Not Meaningful
    =====================================================================

    MARKET SEGMENT FINANCIAL RESULTS
    Comerica Incorporated and Subsidiaries

    (dollar amounts in
     millions)
    Three Months Ended
     March 31, 2009              Midwest       Western       Texas    Florida
    -------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)              $194           $146          $70      $11
    Provision for loan losses       83             88            9       15
    Noninterest income             127             36           21        3
    Noninterest expenses           194            104           58        8
    Provision (benefit) for
     income taxes (FTE)             15             (3)           9       (3)
    Income from discontinued
     operations, net of tax          -              -            -        -
                               ----------------------------------------------
    Net income (loss)              $29            $(7)         $15      $(6)
                               ==============================================
    Net credit-related charge-
     offs                          $54            $76           $8      $12

    Selected average
     balances:
    Assets                     $19,139        $15,443       $8,069   $1,869
    Loans                       18,267         15,253        7,847    1,878
    Deposits                    16,699         10,640        4,198      253
    Liabilities                 17,014         10,571        4,211      245
    Attributed equity            1,604          1,375          680      152

    Statistical data:
    Return on average assets (1)  0.63%         (0.18)%       0.72%   (1.29)%
    Return on average
     attributed equity            7.57          (1.98)        8.54   (15.87)
    Net interest margin (2)       4.30           3.91         3.62     2.31
    Efficiency ratio             59.91          57.17        64.45    61.06
    =========================================================================


    Three Months Ended
     December 31, 2008          Midwest        Western       Texas    Florida
    -------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)              $202           $157          $72      $11
    Provision for loan losses       59             70           19       14
    Noninterest income             109             34           20        4
    Noninterest expenses           218            114           63       11
    Provision (benefit) for
     income taxes (FTE)             20              5            6       (3)
    Income from discontinued
     operations, net of tax          -              -            -        -
                               ----------------------------------------------
    Net income (loss)              $14             $2           $4      $(7)
                               ==============================================
    Net credit-related charge-
     offs                          $38            $65           $8       $6

    Selected average
     balances:
    Assets                     $19,942        $16,243       $8,215   $1,938
    Loans                       18,966         16,032        7,974    1,942
    Deposits                    16,204         10,762        4,070      222
    Liabilities                 16,733         10,716        4,090      216
    Attributed equity            1,613          1,381          650      146

    Statistical data:
    Return on average assets (1)  0.28%          0.05%        0.20%   (1.46)%
    Return on average
     attributed equity            3.47           0.63         2.49   (19.46)
    Net interest margin (2)       4.21           3.88         3.57     2.26
    Efficiency ratio             70.37          59.54        68.41    72.81
    =========================================================================


    Three Months Ended
     March 31, 2008             Midwest        Western       Texas    Florida
    -------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)              $205           $172          $74      $11
    Provision for loan losses       20            114            8       12
    Noninterest income             136             33           24        5
    Noninterest expenses           185            108           58       10
    Provision (benefit) for
     income taxes (FTE)             48             (7)          12       (2)
    Income from discontinued
     operations, net of tax          -              -            -        -
                               ----------------------------------------------
    Net income (loss)              $88           $(10)         $20      $(4)
                               ==============================================
    Net credit-related charge-
     offs                          $28            $66           $5      $10

    Selected average
     balances:
    Assets                     $19,597        $17,287       $7,932   $1,891
    Loans                       18,985         16,906        7,642    1,877
    Deposits                    16,079         12,849        4,005      362
    Liabilities                 16,768         12,849        4,022      358
    Attributed equity            1,663          1,271          619      125

    Statistical data:
    Return on average assets (1)  1.78%         (0.24)%       1.00%   (0.75)%
    Return on average
     attributed equity           20.93          (3.20)       12.88   (11.34)
    Net interest margin (2)       4.32           4.08         3.84     2.56
    Efficiency ratio             57.32          53.04        61.28    60.82
    =========================================================================


    (dollar amounts in
     millions)                                              Finance
    Three Months Ended           Other                      & Other
     March 31, 2009             Markets   International    Businesses  Total
    -------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)               $39            $14         $(88)    $386
    Provision for loan losses       15              -           (7)     203
    Noninterest income              14              8           14      223
    Noninterest expenses            21              8            4      397
    Provision (benefit) for
     income taxes (FTE)             (5)             5          (17)       1
    Income from discontinued
     operations, net of tax          -              -            1        1
                               ----------------------------------------------
    Net income (loss)              $22             $9         $(53)      $9
                               ==============================================
    Net credit-related charge-
     offs                           $6             $1           $-     $157

    Selected average
     balances:
    Assets                      $4,553         $2,177      $15,487  $66,737
    Loans                        4,246          2,070           (5)  49,556
    Deposits                     1,357            713        6,922   40,782
    Liabilities                  1,413            702       25,426   59,582
    Attributed equity              383            150        2,811    7,155

    Statistical data:
    Return on average assets (1)  1.89%          1.69%         N/M     0.06%
    Return on average
     attributed equity           22.45          24.55          N/M    (1.90)
    Net interest margin (2)       3.65           2.74          N/M     2.53
    Efficiency ratio             44.70          33.86          N/M    66.61
    =========================================================================


                                                            Finance
    Three Months Ended           Other                      & Other
     December 31, 2008          Markets   International    Businesses  Total
    -------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)               $38            $16         $(62)    $434
    Provision for loan losses       27              6           (3)     192
    Noninterest income               9              7           (9)     174
    Noninterest expenses            16             10          (21)     411
    Provision (benefit) for
     income taxes (FTE)            (11)             3          (34)     (14)
    Income from discontinued
     operations, net of tax          -              -            1        1
                               ----------------------------------------------
    Net income (loss)              $15             $4         $(12)     $20
                               ==============================================
    Net credit-related charge-
     offs                          $16             $-           $-     $133

    Selected average
     balances:
    Assets                      $4,612         $2,268      $12,763  $65,981
    Loans                        4,248          2,186          (10)  51,338
    Deposits                     1,206            645        7,207   40,316
    Liabilities                  1,330            635       25,960   59,680
    Attributed equity              405            148        1,958    6,301

    Statistical data:
    Return on average assets (1)  1.30%          0.69%         N/M     0.12%
    Return on average
     attributed equity           14.86          10.62          N/M     0.19
    Net interest margin (2)       3.55           2.83          N/M     2.82
    Efficiency ratio             37.57          43.36          N/M    68.19
    =========================================================================


                                                            Finance
    Three Months Ended           Other                      & Other
     March 31, 2008             Markets   International    Businesses  Total
    -------------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)               $36            $15         $(36)    $477
    Provision for loan losses       13             (3)          (5)     159
    Noninterest income              17              8           14      237
    Noninterest expenses            27             10            5      403
    Provision (benefit) for
     income taxes (FTE)             (5)             6          (10)      42
    Income from discontinued
     operations, net of tax          -              -           (1)      (1)
                               ----------------------------------------------
    Net income (loss)              $18            $10         $(13)    $109
                               ==============================================
    Net credit-related charge-
     offs                           $-             $1           $-     $110

    Selected average
     balances:
    Assets                      $4,692         $2,342      $10,186  $63,927
    Loans                        4,185          2,215           42   51,852
    Deposits                     1,582            800        8,385   44,062
    Liabilities                  1,690            816       22,232   58,735
    Attributed equity              384            162          968    5,192

    Statistical data:
    Return on average assets (1)  1.55%          1.78%         N/M     0.68%
    Return on average
     attributed equity           18.93          25.73          N/M     8.42
    Net interest margin (2)       3.39           2.71          N/M     3.22
    Efficiency ratio             51.54          43.60          N/M    58.25
    =========================================================================
    (1) Return on average assets is calculated based on the greater of average
    assets or average liabilities and attributed equity.
    (2) Net interest margin is calculated based on the greater of average
    earning assets or average deposits and purchased funds.
    FTE - Fully Taxable Equivalent
    N/M - Not Meaningful
    =========================================================================

SOURCE Comerica Incorporated

http://www.comerica.com

Press releases, archived webcasts/presentations/conference calls, and SEC filings speak only to the date they are issued, made or filed, respectively. Investors should not rely on such information as being unchanged in making investment decisions.

Press releases, archived webcasts/presentations/conference calls, and SEC filings speak only to the date they are issued, made or filed, respectively. Investors should not rely on such information as being unchanged in making investment decisions.