Financial News

Comerica Reports Second Quarter 2009 Net Income of $18 Million
Quarter Boosts Already Strong Capital Ratios
$1.1 Billion Increase in Average Core Deposits
Net Interest Margin Expands
Residential Real Estate Development Drives Credit Metrics
EPS Impact from Preferred Stock Dividends to U.S. Treasury (22 Cents)

DALLAS, July 21, 2009 /PRNewswire-FirstCall via COMTEX/ -- Comerica Incorporated (NYSE: CMA) today reported second quarter 2009 net income of $18 million, compared to $9 million for the first quarter 2009 and $56 million for the second quarter 2008. After preferred dividends of $34 million in the second quarter 2009 and $33 million in the first quarter 2009, the net loss applicable to common stock was $16 million, or $0.10 per diluted share, for the second quarter 2009, compared to a net loss applicable to common stock of $24 million, or $0.16 per diluted share, for the first quarter 2009 and net income applicable to common stock of $56 million, or $0.37 per diluted share, for the second quarter 2008. Second quarter 2009 included a $312 million provision for loan losses, compared to $203 million for the first quarter 2009 and $170 million for the second quarter 2008.

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    ---------------------------------------------------------------------
    (dollar amounts in millions, except per   2nd Qtr   1st Qtr   2nd Qtr
     share data)                                '09      '09       '08
    ---------------------------------------------------------------------
    Net interest income                        $402      $384      $442
    Provision for loan losses                   312       203       170
    Noninterest income                          298       223       242
    Noninterest expenses                        429       397       423

    Net income                                   18         9        56
    Preferred stock dividends to U.S.
     Treasury                                    34        33         -
    Net income (loss) applicable to common
     stock                                      (16)      (24)       56

    Diluted earnings (loss) per common share  (0.10)    (0.16)     0.37

    Tier 1 capital ratio                      11.57%(a) 11.06%     7.45%
    Tangible common equity ratio (b)           7.55      7.27      7.47

    Net interest margin                        2.73      2.53      2.91

    (a) June 30, 2009 ratio is estimated.

    (b) See Reconciliation of Non-GAAP Financial Measures.
    =====================================================================

"The second quarter results reflect the difficult economic environment, particularly the residential real estate development challenges," said Ralph W. Babb Jr., chairman and chief executive officer. "We are managing through this environment by quickly identifying problem loans, building our loan loss reserve credit-by-credit, and strengthening our already solid capital position.

"While there are some signs the economy may be bottoming, businesses and individuals are still feeling the effects of this prolonged recession. They remain cautious in an environment in which unemployment rates have continued to rise.

"Like the industry as a whole, we continue to see weak loan demand across our geographic markets. This mirrors the sharp slowdown in commercial and industrial loan growth that was evident in all 10 post-World War II recessions.

"We were pleased to see continued strong growth in average core deposits in the second quarter and, as expected, expansion of the net interest margin. We remain focused on our customers and vigilant in controlling our expenses.

"Our capital ratios increased from already strong levels, as evidenced by a tangible common equity ratio of 7.55 percent."

Second Quarter 2009 Compared to First Quarter 2009

    --  Average earning assets decreased $2.2 billion, reflecting a $1.9 billion
        decrease in average loans and a $340 million decrease in investment
        securities, which resulted from the sale of mortgage-backed government
        agency securities and the redemption of auction-rate securities.
    --  Average loans declined in all markets and nearly all business lines. The
        declines reflected reduced demand from customers in a contracting
        economic environment.
    --  Average core deposits, excluding the Financial Services Division,
        increased $1.1 billion in the second quarter 2009, reflecting a $1.0
        billion increase in noninterest-bearing deposits.
    --  The net interest margin of 2.73 percent increased 20 basis points, from
        2.53 percent in the first quarter 2009, primarily reflecting increasing
        loan spreads and maturities of higher-cost time deposits.
    --  Net credit-related charge-offs were $248 million, or 2.08 percent of
        average total loans, for the second quarter 2009, compared to $157
        million, or 1.26 percent of average total loans, for the first quarter
        2009, with the increases concentrated primarily in Leasing and Middle
        Market Banking in the Midwest and residential real estate development in
        Florida and Other markets.  Net credit-related charge-offs in the Texas
        and Western markets were stable. The provision for loan losses was $312
        million for the second quarter 2009, compared to $203 million for the
        first quarter 2009, and the period-end allowance to total loans ratio
        increased to 1.89 percent from 1.68 percent at March 31, 2009.
    --  Noninterest income increased $75 million, primarily the result of a $100
        million increase in net securities gains (substantially from sales of
        mortgage-backed government agency securities) and a $13 million increase
        in deferred compensation asset returns (offset by an increase in
        deferred compensation plan costs in noninterest expenses), partially
        offset by a decline resulting from a $16 million second quarter 2009
        loss on the termination of leveraged leases compared to a $24 million
        first quarter 2009 gain on the termination of leveraged leases.
    --  Noninterest expenses increased $32 million from the first quarter,
        primarily due to a $30 million increase in FDIC insurance expense,
        reflecting an industry-wide FDIC special assessment charge in the second
        quarter 2009, and a $13 million increase in deferred compensation plan
        costs, partially offset by decreases in discretionary expenses and
        workforce. Excluding the FDIC special assessment charge, annualized
        noninterest expenses remain nearly 10 percent below noninterest expenses
        for the full-year 2008.
    --  The provision for income taxes decreased $58 million from the first
        quarter, primarily due to a change in the method of determining interim
        period (quarterly) federal taxes.  The second quarter 2009 provision for
        income taxes also was reduced by approximately $8 million in net
        adjustments including settlements related to federal and state tax
        audits.

    --  The estimated Tier 1 common ratio was 7.65 percent and the estimated
        Tier 1 capital ratio was 11.57 percent at June 30, 2009, increases of 33
        basis points and 51 basis points, respectively, from March 31, 2009.

Net Interest Income and Net Interest Margin

    ---------------------------------------------------------------------
                                       2nd Qtr   1st Qtr     2nd Qtr
    (dollar amounts in millions)         '09        '09        '08
    ---------------------------------------------------------------------
    Net interest income                  $402       $384       $442

    Net interest margin                  2.73%      2.53%      2.91%

    Selected average balances:
      Total earning assets            $59,522    $61,752    $61,088
      Total investment
       securities                       9,786     10,126      8,296
      Total loans                      47,648     49,556     52,367
      Total loans, excluding
       FSD loans (primarily
       low-rate)                       47,432     49,344     51,898

      Total core deposits (a),
       excluding FSD                   33,059     31,946     32,057
      Total noninterest-bearing
       deposits                        12,546     11,364     10,648
      Total noninterest-bearing
       deposits, excluding FSD         11,132     10,095      8,825


    (a) Core deposits exclude other time deposits and foreign office time
        deposits.
    =====================================================================

    --  The $18 million increase in net interest income in the second quarter
        2009, when compared to first quarter 2009, resulted primarily from an
        increase in the net interest margin and the impact of one more day ($4
        million), partially offset by a decline in earning assets (primarily
        loans).
    --  Second quarter 2009 average core deposits, excluding the Financial
        Services Division, increased $1.1 billion compared to first quarter
        2009, reflecting a $1.0 billion increase in noninterest-bearing
        deposits. The increase in noninterest-bearing deposits occurred across
        all business segments and from both commercial and consumer customers.
    --  The net interest margin of 2.73 percent increased 20 basis points,
        compared to first quarter 2009, primarily reflecting increasing loan
        spreads and maturities of higher-cost time deposits. The net interest
        margin was reduced by approximately eight basis points in each of the
        first two quarters of 2009 from excess liquidity, which was represented
        by $1.8 billion of average balances deposited with the Federal Reserve
        Bank. Excess liquidity resulted from strong deposit growth and security
        sales at a time when loan demand remained weak.

    --  Total average Financial Services Division noninterest-bearing deposits
        increased $145 million from the first quarter 2009. This division serves
        title and escrow companies that facilitate residential mortgage
        transactions and benefits from customer deposits related to mortgage
        escrow balances. Noninterest-bearing deposits increased primarily due to
        increased mortgage activity.

Noninterest Income

Noninterest income was $298 million for the second quarter 2009, compared to $223 million for the first quarter 2009 and $242 million for the second quarter 2008. Noninterest income in the second quarter 2009 included $113 million of net securities gains, primarily from gains from sales of mortgage-backed government agency securities ($109 million) and from redemptions of auction-rate securities ($3 million), compared to net securities gains of $13 million in the first quarter 2009. Securities were sold based on Comerica's expectation that mortgage rates will rise over time (i.e., securities prices will decline) and, with interest rates near zero, there is no longer a need to hold a large portfolio of fixed rate securities to mitigate the impact of potential future rate declines on net interest income. Noninterest income in the second quarter 2009 also reflected a $6 million gain on the sale of Comerica's proprietary defined contribution plan recordkeeping business. Deferred compensation asset returns were $8 million in the second quarter 2009, an increase of $13 million when compared to the first quarter 2009 (offset by an increase in deferred compensation plan costs in noninterest expenses). The second quarter 2009 included a $16 million loss on the termination of leveraged leases compared to a $24 million first quarter 2009 gain on the termination of leveraged leases (both the loss and the gain are included in "other noninterest income"). Selected categories of noninterest income are highlighted in the following table.

    --------------------------------------------------------------------------
                                                 2nd Qtr   1st Qtr   2nd Qtr
      (in millions)                                '09       '09      '08
    --------------------------------------------------------------------------
    Net securities gains                           $113      $13      $14
    Other noninterest income
      Gain (loss) from termination of leveraged
       leases                                       (16)      24        -
      Net loss from principal investing and
       warrants                                      (4)      (2)      (3)
      Deferred compensation asset returns (a)         8       (5)       4
      Net gain on sale of business                    6        -        -

    (a) 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 $429 million for the second quarter 2009, compared to $397 million for the first quarter 2009 and $423 million for the second quarter 2008. The $32 million increase in noninterest expenses in the second quarter 2009, compared to the first quarter 2009, reflected a $30 million increase in FDIC insurance expense, resulting from an industry-wide FDIC special assessment charge in the second quarter 2009, and a $13 million increase in deferred compensation plan costs. Regular salaries decreased $5 million, impacted by reductions in full-time equivalent staff of approximately 200 and 490 in the second quarter 2009 and first quarter 2009, respectively. Certain categories of noninterest expenses are highlighted in the table below.

    -------------------------------------------------------------------------
                                               2nd Qtr     1st Qtr    2nd Qtr
                                                 '09         '09       '08
    -------------------------------------------------------------------------
    Salaries
      Regular salaries                          $142        $147       $151
      Severance                                   (1)          5          1
      Incentives (including commissions)          15          13         35
      Deferred compensation plan costs             8          (5)         4
      Share-based compensation                     7          11         11
                                                ----        ----       ----
        Total salaries                           171         171        202
    Employee benefits
      Pension expense                             14          16          5
      Other benefits                              39          38         43
      Severance-related benefits                   -           1          -
                                                ----        ----       ----
        Total employee benefits                   53          55         48

    FDIC insurance expense                        45          15          2
    Customer services                              1           -          3
    Provision for credit losses on
     lending-related commitments                  (4)         (1)         7
    Other noninterest expenses
      Other real estate expense                   10           7          1
    =========================================================================

Tax-related items

The provision for income taxes in the second quarter 2009 decreased $58 million, when compared to the first quarter 2009, primarily due to a change in the method used to determine interim period (quarterly) federal taxes. Beginning in the second quarter 2009, Comerica calculated income taxes discretely based on actual year-to-date 2009 pre-tax results. In the first quarter 2009 and prior periods, Comerica calculated taxes by applying an estimated annual effective tax rate to year-to-date pre-tax results. The change in method resulted in an approximately $20 million decrease in the income tax provision in the second quarter 2009. If the same methodology had been applied in the first quarter, the income tax provision recorded in the first quarter 2009 would have been approximately $20 million lower. The decrease in the provision for income taxes in the second quarter 2009 also reflected approximately $8 million of net adjustments including settlements related to federal and state tax audits.

Credit Quality

"The key credit issue for us remains in our Commercial Real Estate line of business, predominantly residential real estate development," said Babb. "We have seen signs of stabilization in the residential real estate portfolio in California. Texas has held up relatively well, and we have been working through issues related to falling home prices in Michigan for several years. Florida had performed well for us, but the prolonged recession has recently taken a toll on our residential real estate development portfolio in that state, as well as in other markets.

"We are managing these problem loans effectively. We are conducting in-depth reviews, obtaining current independent appraisals, taking the appropriate charge-offs and providing incremental reserves to reflect the challenges of this difficult economic environment.

"With regard to the automotive industry, we have anticipated and planned for the restructuring now underway, and no longer have any direct exposure to Chrysler or General Motors. Our top-tier, mega-franchise auto dealer strategy continues to work well for us. We have maintained excellent credit quality within our auto dealer portfolio, with no nonaccruals or charge-offs in the second quarter. We have no material exposure to dealers which are closing.

"Within our automotive supplier portfolio, which we have continued to reduce, many of our customers who supply General Motors or Chrysler have been named essential suppliers by those automakers, and are expected to continue to operate. Excluding a $21 million charge-off related to a General Motors leveraged lease, net auto-related charge-offs in the second quarter remained at a low level."

    --  The allowance to total loans ratio increased to 1.89 percent at June 30,
        2009, from 1.68 percent at March 31, 2009 and 1.28 percent at June 30,
        2008.
    --  The provision for loan losses increased in the Midwest, Texas, Florida
        and Other markets. The provision in the Western market, which was
        relatively unchanged, benefited from a decline in Commercial Real
        Estate.
    --  Net credit-related charge-offs in the Commercial Real Estate business
        line in the second quarter 2009 were $108 million, of which $34 million
        were from residential real estate developers in the Western market.
        Comparable numbers for the first quarter 2009 were $74 million in total,
        of which $47 million were from residential real estate developers in the
        Western market. Commercial Real Estate net credit-related charge-offs
        were stable in the Midwest and Texas markets, and increased in Florida
        and Other markets.
    --  Net credit-related charge-offs excluding the Commercial Real Estate
        business line were $140 million in the second quarter 2009, or 1.35
        percent of average non-Commercial Real Estate loans, compared to $83
        million, or 76 basis points, in the first quarter 2009.  The $57 million
        increase in non-Commercial Real Estate net credit-related charge-offs,
        when compared to the first quarter 2009, was primarily due to increases
        in Specialty Businesses ($21 million), reflecting a $21 million
        charge-off related to a General Motors leveraged lease, Middle Market
        ($21 million), and Global Corporate ($13 million). Small Business and
        Private Banking were stable.
    --  Nonperforming assets increased to 2.64 percent of total loans and
        foreclosed property at June 30, 2009. During the second quarter 2009,
        $419 million of loan relationships greater than $2 million were
        transferred to nonaccrual status, an increase of $178 million from the
        first quarter 2009.  Of the transfers of loan relationships greater than
        $2 million to nonaccrual in the second quarter 2009, $204 million were
        in the Commercial Real Estate business line, $79 million were in Middle
        Market and $78 million were in Global Corporate.

    --  Nonaccrual loans were charged down 39 percent as of June 30, 2009,
        compared to 36 percent as of March 31, 2009 and 28 percent one year ago.

    ----------------------------------------------------------------------
                                                2nd Qtr   1st Qtr  2nd Qtr
    (dollar amounts in millions)                  '09       '09      '08
    ----------------------------------------------------------------------
    Net loan charge-offs                         $248      $157     $112
    Net lending-related commitment charge-offs      -         -        1
                                                -----     -----    -----
        Total net credit-related charge-offs      248       157      113
    Net loan charge-offs/Average total loans     2.08%     1.26%    0.86%
    Net credit-related charge-offs/Average
     total loans                                 2.08      1.26     0.86

    Provision for loan losses                    $312      $203     $170
    Provision for credit losses on
     lending-related commitments                   (4)       (1)       7
                                                -----     -----    -----
        Total provision for credit losses         308       202      177

    Nonperforming loans                         1,130       982      731
    Nonperforming assets (NPAs)                 1,230     1,073      748
    NPAs/Total loans and foreclosed property     2.64%     2.20%    1.44%

    Loans past due 90 days or more and still
     accruing                                     210       207      112

    Allowance for loan losses                    $880      $816     $663
    Allowance for credit losses on
     lending-related commitments (a)               33        37       31
                                                -----     -----    -----
        Total allowance for credit losses         913       853      694
    Allowance for loan losses/Total loans        1.89%     1.68%    1.28%
    Allowance for loan losses/Nonperforming
     loans                                         78        83       91

    (a) Included in "Accrued expenses and other liabilities" on the
        consolidated balance sheets.
    ======================================================================

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $63.6 billion and $5.0 billion, respectively, at June 30, 2009, compared to $67.4 billion and $5.0 billion, respectively, at March 31, 2009. There were approximately 151 million common shares outstanding at June 30, 2009.

Comerica's tangible common equity ratio was 7.55 percent at June 30, 2009. The second quarter 2009 estimated Tier 1 common, Tier 1 and total risk-based capital ratios were 7.65 percent, 11.57 percent and 15.96 percent, respectively.

2009 Outlook

    --  Management continues to focus on developing new and expanding existing
        customer relationships.  Management expects subdued loan demand in light
        of a domestic economy that is expected to continue contracting in the
        near term.
    --  Management expects the net interest margin to benefit from improved loan
        pricing and maturities of higher-cost wholesale funding.  Excess
        liquidity is expected to offset those benefits for the near-term, with
        the third quarter 2009 net interest margin expected to be relatively
        unchanged from the second quarter. Excess liquidity is expected to
        diminish during the fourth quarter from maturities of wholesale funding,
        resulting in net interest margin expansion. 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 in the
        third quarter 2009 to be similar to second quarter 2009 and to improve
        modestly in the fourth quarter 2009. The provision for credit losses is
        expected to continue to exceed net charge-offs.
    --  Management expects additional securities gains from the sale of
        mortgage-backed government agency securities.

    --  Management expects a mid- to high-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 June 30, 2009 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses second quarter 2009 results compared to first quarter 2009.

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

    ----------------------------------------------------------------------
                                        2nd Qtr     1st Qtr   2nd Qtr
    (dollar amounts in millions)         '09          '09      '08
    ----------------------------------------------------------------------
    Business Bank                     $5    N/M%   $56   91% $57   73%
    Retail Bank                      (18)   N/M     (7) (12)   7    9
    Wealth & Institutional
     Management                       15    N/M     13   21   14   18
    ----------------------------------------------------------------------
                                       2    100%    62  100%  78  100%
    Finance                            8           (50)       (5)
    Other (a)                          8            (3)      (17)
    ----------------------------------------------------------------------
         Total                       $18            $9       $56
    ----------------------------------------------------------------------

    N/M - Not Meaningful.
    (a) Includes discontinued operations and items not directly associated
        with the three major business segments or the Finance Division.
    ======================================================================

Business Bank

    --------------------------------------------------------------------
                                       2nd Qtr     1st Qtr       2nd Qtr
    (dollar amounts in millions)        '09          '09          '08
    --------------------------------------------------------------------
    Net interest income (FTE)           $328         $312         $296
    Provision for loan losses            252          177          123
    Noninterest income                    50           93           92
    Noninterest expenses                 157          157          185
    Net income                             5           56           57

    Net credit-related charge-offs       211          123           96

    Selected average balances:
    Assets                            37,521       39,505       42,335
    Loans                             36,760       38,527       41,510
      FSD loans                          216          212          469
    Deposits                          14,827       14,040       15,384
      FSD deposits                     1,866        1,886        2,817

    Net interest margin                 3.58%        3.28%        2.86%
    ====================================================================

    --  Average loans decreased $1.8 billion, resulting from declines across all
        markets and nearly all businesses.
    --  Average deposits, excluding the Financial Services Division, increased
        $807 million, increasing in most businesses, but primarily in Global
        Corporate.
    --  The net interest margin of 3.58 percent increased 30 basis points,
        primarily due to an increase in loan and deposit spreads and an increase
        in noninterest-bearing deposits.
    --  The provision for loan losses increased $75 million, reflecting
        increases in Leasing, Commercial Real Estate, Global Corporate and
        Middle Market.
    --  Noninterest income decreased $43 million.  The second quarter 2009
        included a $16 million loss on the termination of leveraged leases
        compared to a $24 million first quarter 2009 gain on the termination of
        leveraged leases.

    --  Noninterest expenses were unchanged as increases in FDIC insurance
        expense, due to the special assessment charge, and other real estate
        expenses were offset by declines in salaries and benefit expenses and
        the provision for credit losses on lending-related commitments.

Retail Bank

    --------------------------------------------------------------------
                                        2nd Qtr      1st Qtr     2nd Qtr
    (dollar amounts in millions)         '09           '09         '08
    --------------------------------------------------------------------
    Net interest income (FTE)           $128         $126         $146
    Provision for loan losses             42           23           29
    Noninterest income                    46           46           54
    Noninterest expenses                 167          161          161
    Net income (loss)                    (18)          (7)           7

    Net credit-related charge-offs        29           26           14

    Selected average balances:
    Assets                             6,693        6,875        7,100
    Loans                              6,115        6,284        6,348
    Deposits                          17,666       17,391       17,043

    Net interest margin                 2.90%        2.93%        3.45%
    ====================================================================

    --  Average loans decreased $169 million, across all businesses.
    --  Average deposits increased $275 million.  With the exception of
        certificates of deposit, all deposit categories increased in the second
        quarter 2009 compared to the first quarter 2009.
    --  The provision for loan losses increased $19 million, primarily due to
        increased provisions in Personal Banking for home equity and residential
        mortgage loans, and Small Business.

    --  Noninterest expenses increased $6 million, primarily due to the FDIC
        special assessment charge, partially offset by a decrease in salaries
        and benefit expenses.

Wealth and Institutional Management

    ------------------------------------------------------------------------
                                             2nd Qtr     1st Qtr     2nd Qtr
    (dollar amounts in millions)              '09          '09        '08
    ------------------------------------------------------------------------
    Net interest income (FTE)                 $40          $36       $37
    Provision for loan losses                  13           10         5
    Noninterest income                         73           70        74
    Noninterest expenses                       77           75        83
    Net income                                 15           13        14

    Net credit-related charge-offs              8            8         3

    Selected average balances:
    Assets                                  4,965        4,870     4,646
    Loans                                   4,776        4,750     4,502
    Deposits                                2,599        2,429     2,493

    Net interest margin                      3.29%        3.11%     3.29%
    ========================================================================

    --  Average loans increased $26 million.
    --  Average deposits increased $170 million, primarily due to an increase in
        NOW and noninterest-bearing accounts.
    --  The net interest margin of 3.29 percent increased 18 basis points,
        primarily due to an increase in loan and deposit spreads and the benefit
        provided by an increase in NOW and noninterest-bearing accounts.
    --  The provision for loan losses increased $3 million.
    --  Noninterest income increased $3 million, due to a $6 million second
        quarter 2009 gain on the sale of Comerica's proprietary defined
        contribution plan recordkeeping business.

    --  Noninterest expenses increased $2 million, primarily due to the FDIC
        special assessment charge.

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 June 30, 2009 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses second quarter 2009 results compared to first quarter 2009.

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

    ----------------------------------------------------------------------
                                           2nd Qtr     1st Qtr   2nd Qtr
    (dollar amounts in millions)             '09         '09       '08
    ----------------------------------------------------------------------
    Midwest                              $-    N/M%   $29   49% $52   68%
    Western                              (7)   N/M     (7) (11) (20) (26)
    Texas                                 5    N/M     15   23   17   21
    Florida                              (8)   N/M     (6) (10)  (1)  (2)
    Other Markets                         6    N/M     22   34   23   29
    International                         6    N/M      9   15    7   10
    ----------------------------------------------------------------------
                                          2    100%    62  100%  78  100%
    Finance & Other Businesses (a)       16           (53)      (22)
    ----------------------------------------------------------------------
         Total                          $18            $9       $56
    ======================================================================
    N/M - Not Meaningful.
    (a) Includes discontinued operations and items not directly associated
        with the geographic markets.
    ======================================================================

Midwest

    --------------------------------------------------------------------
                                       2nd Qtr      1st Qtr      2nd Qtr
    (dollar amounts in millions)         '09          '09         '08
    --------------------------------------------------------------------
    Net interest income (FTE)           $200         $194         $172
    Provision for loan losses            119           83           24
    Noninterest income                    92          127          136
    Noninterest expenses                 186          194          205
    Net income                             -           29           52

    Net credit-related charge-offs        99           54           42

    Selected average balances:
    Assets                            18,122       19,139       19,846
    Loans                             17,427       18,267       19,224
    Deposits                          17,166       16,699       16,021

    Net interest margin                 4.56%        4.30%        3.59%
    ====================================================================

    --  Average loans decreased $840 million, resulting from declines in Middle
        Market, National Dealer Services, Leasing and Commercial Real Estate.
    --  Average deposits increased $467 million, due to increases in Global
        Corporate and Personal Banking.
    --  The net interest margin of 4.56 percent increased 26 basis points,
        primarily due to an increase in loan and deposit spreads and the benefit
        provided by an increase in noninterest-bearing deposits.
    --  The provision for loan losses increased $36 million, primarily due to
        increases in Leasing, Personal Banking, Small Business and Middle
        Market.
    --  Noninterest income decreased $35 million.  The second quarter 2009
        included a $16 million loss on the termination of leveraged leases
        compared to a $24 million first quarter 2009 gain on the termination of
        leveraged leases.

    --  Noninterest expenses decreased $8 million as an increase in FDIC
        insurance expense, due to the special assessment charge, was more than
        offset by a decrease in the provision for credit losses on
        lending-related commitments and nominal decreases in numerous
        discretionary expense categories.

Western Market

    --------------------------------------------------------------------
                                      2nd Qtr       1st Qtr      2nd Qtr
    (dollar amounts in millions)        '09           '09         '08
    --------------------------------------------------------------------
    Net interest income (FTE)           $154         $146         $171
    Provision for loan losses             90           88          113
    Noninterest income                    32           36           34
    Noninterest expenses                 113          104          115
    Net income (loss)                     (7)          (7)         (20)

    Net credit-related charge-offs        70           76           59

    Selected average balances:
    Assets                            14,901       15,443       17,269
    Loans                             14,684       15,253       16,945
      FSD loans                          216          212          469
    Deposits                          10,717       10,640       12,346
      FSD deposits                     1,678        1,746        2,611

    Net interest margin                 4.20%        3.91%        4.05%
    ====================================================================

    --  Average loans decreased $569 million, due to declines in National Dealer
        Services, Technology and Life Sciences and Commercial Real Estate.
    --  Average deposits, excluding the Financial Services Division, increased
        $145 million, primarily due to an increase in Private Banking.
    --  The net interest margin of 4.20 percent increased 29 basis points,
        primarily due to an increase in loan and deposit spreads and the benefit
        provided by an increase in noninterest-bearing deposits.
    --  The provision for loan losses increased $2 million.
    --  Noninterest income decreased $4 million, reflecting nominal decreases in
        numerous categories.

    --  Noninterest expenses increased $9 million, primarily due to the FDIC
        special assessment charge and increases in other real estate and
        customer services expenses, partially offset by a decrease in salaries
        and benefit expenses.

Texas Market

    -----------------------------------------------------------------------
                                          2nd Qtr      1st Qtr      2nd Qtr
    (dollar amounts in millions)            '09          '09          '08
    -----------------------------------------------------------------------
    Net interest income (FTE)                $73          $70          $74
    Provision for loan losses                 28            9            6
    Noninterest income                        21           21           22
    Noninterest expenses                      60           58           63
    Net income                                 5           15           17

    Total net credit-related charge-offs      11            8            3

    Selected average balances:
    Assets                                 7,798        8,069        8,063
    Loans                                  7,547        7,847        7,795
    Deposits                               4,496        4,198        4,061

    Net interest margin                     3.88%        3.62%        3.79%
    =======================================================================

    --  Average loans decreased $300 million, primarily due to decreases in
        Middle Market and National Dealer Services.
    --  Average deposits increased $298 million, primarily due to increases in
        Global Corporate, Middle Market and Personal Banking.
    --  The net interest margin of 3.88 percent increased 26 basis points,
        primarily due to an increase in loan spreads and the benefit provided by
        an increase in noninterest-bearing deposits.
    --  The provision for loan losses increased $19 million, due to increases in
        Middle Market, Energy Lending and Small Business.

    --  Noninterest expenses increased $2 million as an increase in FDIC
        insurance expense, due to the special assessment charge, was partially
        offset by a decline in salaries and benefit expenses.

Florida Market

    ---------------------------------------------------------------------
                                        2nd Qtr      1st Qtr      2nd Qtr
    (dollar amounts in millions)          '09          '09         '08
    ---------------------------------------------------------------------
    Net interest income (FTE)            $11          $11          $12
    Provision for loan losses             20           15            7
    Noninterest income                     3            3            4
    Noninterest expenses                   9            8           11
    Net income (loss)                     (8)          (6)          (1)

    Net credit-related charge-offs        23           12            8

    Selected average balances:
    Assets                             1,820        1,869        1,854
    Loans                              1,820        1,878        1,851
    Deposits                             331          253          306

    Net interest margin                 2.44%        2.31%        2.51%
    =====================================================================

    --  Average loans decreased $58 million, due to a decrease in National
        Dealer Services.
    --  Average deposits increased $78 million, due to increases in the
        Financial Services Division and Private Banking.
    --  The net interest margin of 2.44 percent increased 13 basis points,
        primarily due to the benefit provided  by an increase in
        noninterest-bearing deposits.

    --  The provision for loan losses increased $5 million, primarily due to an
        increase in Commercial Real Estate, partially offset by a decrease in
        Private Banking.

Conference Call and Webcast

Comerica will host a conference call to review second quarter 2009 financial results at 7 a.m. CT Tuesday, July 21, 2009. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 14969532). 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 July 31, 2009. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 14969532). 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.

This press release contains both financial measures based on accounting principles generally accepted in the United States (GAAP) and non-GAAP based financial measures, which are used where management believes it to be helpful in understanding Comerica's results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconcilement to the comparable GAAP financial measure, can be found in this press release. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

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 (unaudited)
    Comerica Incorporated and Subsidiaries
    -----------------------------------------------------------------------
                                                  Three Months Ended
                                            -------------------------------
                                             June 30,  March 31,  June 30,
    (in millions, except per share data)       2009      2009      2008
    -----------------------------------------------------------------------
    PER COMMON SHARE AND COMMON STOCK DATA
    Diluted net income (loss)                $(0.10)   $(0.16)    $0.37
    Cash dividends declared                    0.05      0.05      0.66
    Common shareholders' equity (at
     period end)                              32.70     33.32     33.78

    Average diluted shares (in thousands)   151,490   151,353   150,819
    -----------------------------------------------------------------------
    KEY RATIOS
    Return on average common
     shareholders' equity                     (1.25)%   (1.90)%    4.25%
    Return on average assets                   0.11      0.06      0.33
    Tier 1 common capital ratio (a) (b)        7.65      7.32      6.79
    Tier 1 risk-based capital ratio (b)       11.57     11.06      7.45
    Total risk-based capital ratio (b)        15.96     15.36     11.21
    Leverage ratio (b)                        12.12     11.65      8.53
    Tangible common equity ratio (a)           7.55      7.27      7.47
    -----------------------------------------------------------------------
    AVERAGE BALANCES
    Commercial loans                        $25,657   $27,180   $29,280
    Real estate construction loans            4,325     4,510     4,843
    Commercial mortgage loans                10,476    10,431    10,374
    Residential mortgage loans                1,795     1,846     1,906
    Consumer loans                            2,572     2,574     2,549
    Lease financing                           1,227     1,300     1,352
    International loans                       1,596     1,715     2,063
                                            -------   -------   -------
    Total loans                              47,648    49,556    52,367

    Earning assets                           59,522    61,752    61,088
    Total assets                             64,256    66,737    65,963
    Noninterest-bearing deposits             12,546    11,364    10,648
    Interest-bearing core deposits           22,379    22,468    24,226
    Total core deposits                      34,925    33,832    34,874
    Common shareholders' equity               5,016     5,024     5,193
    Total shareholders' equity                7,153     7,155     5,193
    -----------------------------------------------------------------------
    NET INTEREST INCOME
    Net interest income (fully taxable
     equivalent basis) (c)                     $404      $386      $443
    Fully taxable equivalent adjustment           2         2         1
    Net interest margin (c)                    2.73%     2.53%     2.91%
    -----------------------------------------------------------------------
    CREDIT QUALITY
    Nonaccrual loans                         $1,130      $982      $731
    Reduced-rate loans                            -         -         -
                                            -------   -------   -------
    Total nonperforming loans                 1,130       982       731
    Foreclosed property                         100        91        17
                                            -------   -------   -------
    Total nonperforming assets                1,230     1,073       748

    Loans past due 90 days or more and
     still accruing                             210       207       112

    Gross loan charge-offs                      257       161       118
    Loan recoveries                               9         4         6
                                            -------   -------   -------
    Net loan charge-offs                        248       157       112
    Lending-related commitment charge-offs        -         -         1
                                            -------   -------   -------
    Total net credit-related charge-offs        248       157       113

    Allowance for loan losses                   880       816       663
    Allowance for credit losses on lending-
     related commitments                         33        37        31
                                            -------   -------   -------
    Total allowance for credit losses           913       853       694

    Allowance for loan losses as a
     percentage of total loans                 1.89%     1.68%     1.28%
    Net loan charge-offs as a percentage of
     average total loans                       2.08      1.26      0.86
    Net credit-related charge-offs as a
     percentage of average total loans         2.08      1.26      0.86
    Nonperforming assets as a percentage of
     total loans and foreclosed property       2.64      2.20      1.44
    Allowance for loan losses as a
     percentage of total nonperforming
     loans                                       78        83        91
    -----------------------------------------------------------------------
    (a) See Reconciliation of Non-GAAP Financial Measures.
    (b) June 30, 2009 ratios are estimated.
    (c) Second quarter 2008 net interest income declined $30 million due to a
        tax-related non-cash lease income charge.  Excluding this charge, the
        net interest margin would have been 3.10% and 3.17% for the three- and
        six-month periods ended June 30, 2008.



    --------------------------------------------------------------------------
                                                             Six Months Ended
                                                            ------------------
                                                                  June 30,
    (in millions, except per share data)                       2009      2008
    --------------------------------------------------------------------------
    PER COMMON SHARE AND COMMON STOCK DATA
    Diluted net income (loss)                                $(0.26)    $1.09
    Cash dividends declared                                    0.10      1.32
    Common shareholders' equity (at period end)

    Average diluted shares (in thousands)                   151,422   150,774
    --------------------------------------------------------------------------
    KEY RATIOS
    Return on average common shareholders' equity             (1.58)%    6.34%
    Return on average assets                                   0.08      0.51
    Tier 1 common capital ratio (a) (b)
    Tier 1 risk-based capital ratio (b)
    Total risk-based capital ratio (b)
    Leverage ratio (b)
    Tangible common equity ratio (a)
    --------------------------------------------------------------------------
    AVERAGE BALANCES
    Commercial loans                                        $26,413   $29,230
    Real estate construction loans                            4,417     4,827
    Commercial mortgage loans                                10,454    10,258
    Residential mortgage loans                                1,821     1,911
    Consumer loans                                            2,573     2,499
    Lease financing                                           1,263     1,349
    International loans                                       1,655     2,036
                                                            -------   -------
    Total loans                                              48,596    52,110

    Earning assets                                           60,631    60,303
    Total assets                                             65,490    64,945
    Noninterest-bearing deposits                             11,958    10,635
    Interest-bearing core deposits                           22,423    24,606
    Total core deposits                                      34,381    35,241
    Common shareholders' equity                               5,020     5,193
    Total shareholders' equity                                7,154     5,193
    --------------------------------------------------------------------------
    NET INTEREST INCOME
    Net interest income (fully taxable
     equivalent basis) (c)                                     $790      $920
    Fully taxable equivalent adjustment                           4         2
    Net interest margin (c)                                    2.63%     3.07%
    --------------------------------------------------------------------------
    CREDIT QUALITY
    Nonaccrual loans
    Reduced-rate loans
    Total nonperforming loans
    Foreclosed property
    Total nonperforming assets

    Loans past due 90 days or more and still accruing

    Gross loan charge-offs                                     $418      $234
    Loan recoveries                                              13        12
                                                            -------   -------
    Net loan charge-offs                                        405       222
    Lending-related commitment charge-offs                        -         1
                                                            -------   -------
    Total net credit-related charge-offs                        405       223

    Allowance for loan losses
    Allowance for credit losses on lending-
     related commitments
    Total allowance for credit losses

    Allowance for loan losses as a percentage
     of total loans
    Net loan charge-offs as a percentage of
     average total loans                                       1.67%     0.85%
    Net credit-related charge-offs as a percentage of
     average total loans                                       1.67      0.86
    Nonperforming assets as a percentage of total loans and
     foreclosed property
    Allowance for loan losses as a percentage of total
     nonperforming loans
    --------------------------------------------------------------------------
    (a) See Reconciliation of Non-GAAP Financial Measures.
    (b) June 30, 2009 ratios are estimated.
    (c) Second quarter 2008 net interest income declined $30 million due to a
        tax-related non-cash lease income charge.  Excluding this charge, the
        net interest margin would have been 3.10% and 3.17% for the three- and
        six-month periods ended June 30, 2008.



    CONSOLIDATED BALANCE SHEETS
    Comerica Incorporated and Subsidiaries
    ----------------------------------------------------------------------

    (in millions,         June 30,    March 31,    December 31,   June 30,
     except share data)     2009         2009          2008         2008
    ----------------------------------------------------------------------
                        (unaudited)  (unaudited)                (unaudited)

    ASSETS
    Cash and due from
     banks                   $948         $952          $913       $1,698

    Federal funds sold
     and securities
     purchased under
     agreements to
     resell                   650            -           202           77
    Interest-bearing
     deposits with banks    3,542        2,558         2,308           30
    Other short-term
     investments              129          248           158          219

    Investment securities
     available-for-sale     7,757       10,844         9,201        8,243

    Commercial loans       24,922       26,431        27,999       28,763
    Real estate
     construction loans     4,152        4,379         4,477        4,684
    Commercial mortgage
     loans                 10,400       10,514        10,489       10,504
    Residential mortgage
     loans                  1,759        1,836         1,852        1,879
    Consumer loans          2,562        2,577         2,592        2,594
    Lease financing         1,234        1,232         1,343        1,351
    International
     loans                  1,523        1,655         1,753        1,976
    ----------------------------------------------------------------------
      Total loans          46,552       48,624        50,505       51,751
    Less allowance for
     loan losses             (880)        (816)         (770)        (663)
    ----------------------------------------------------------------------
      Net loans            45,672       47,808        49,735       51,088

    Premises and equipment    667          676           683          674
    Customers' liability
     on acceptances
     outstanding                7           10            14           15
    Accrued income and
     other assets           4,258        4,274         4,334        3,959
    ----------------------------------------------------------------------
      Total assets        $63,630      $67,370       $67,548      $66,003
    ======================================================================

    LIABILITIES AND
     SHAREHOLDERS' EQUITY
    Noninterest-bearing
     deposits             $13,558      $12,645       $11,701      $11,860

    Money market and NOW
     deposits              12,352       12,240        12,437       14,506
    Savings deposits        1,348        1,328         1,247        1,391
    Customer certificates
     of deposit             8,524        8,815         8,807        7,746
    Other time deposits     4,593        6,372         7,293        5,940
    Foreign office time
     deposits                 616          494           470          879
    ----------------------------------------------------------------------
      Total interest-
       bearing deposits    27,433       29,249        30,254       30,462
    ----------------------------------------------------------------------
      Total deposits       40,991       41,894        41,955       42,322

    Short-term
     borrowings               490        2,207         1,749        4,075
    Acceptances
     outstanding                7           10            14           15
    Accrued expenses and
     other liabilities      1,478        1,464         1,625        1,651
    Medium- and long-term
     debt                  13,571       14,612        15,053       12,858
    ----------------------------------------------------------------------
      Total liabilities    56,537       60,187        60,396       60,921

    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 6/30/09,
       3/31/09 and
       12/31/08             2,140        2,134         2,129            -
    Common stock - $5 par
     value:
      Authorized -
       325,000,000 shares
       Issued - 178,735,252
       shares at 6/30/09,
       3/31/09, 12/31/08
       and 6/30/08            894          894           894          894
    Capital surplus           731          727           722          576
    Accumulated other
     comprehensive loss      (342)        (238)         (309)        (207)
    Retained earnings       5,257        5,252         5,345        5,451
    Less cost of common
     stock in treasury -
     27,620,471 shares at
     6/30/09, 27,580,899
     shares at 3/31/09,
     28,244,967 shares at
     12/31/2008 and
     28,281,490 shares at
     6/30/08               (1,587)      (1,586)       (1,629)      (1,632)
    ----------------------------------------------------------------------
      Total shareholders'
       equity               7,093        7,183         7,152        5,082
    ----------------------------------------------------------------------
      Total
       liabilities and
       shareholders'
       equity             $63,630      $67,370       $67,548      $66,003
    ======================================================================



    CONSOLIDATED STATEMENTS OF INCOME (unaudited)
    Comerica Incorporated and Subsidiaries
    ------------------------------------------------------------------------
                                                Three Months    Six Months
                                                   Ended          Ended
                                                  June 30,       June 30,
                                                ------------    ----------
    (in millions, except per share data)         2009   2008   2009    2008
    ------------------------------------------------------------------------

    INTEREST INCOME
    Interest and fees on loans                   $447   $633   $899  $1,403
    Interest on investment securities             103    101    212     189
    Interest on short-term investments              2      3      4       8
    ------------------------------------------------------------------------
        Total interest income                     552    737  1,115   1,600

    INTEREST EXPENSE
    Interest on deposits                          106    182    231     435
    Interest on short-term borrowings               -     19      2      48
    Interest on medium- and long-term debt         44     94     96     199
    ------------------------------------------------------------------------
        Total interest expense                    150    295    329     682
    ------------------------------------------------------------------------
        Net interest income                       402    442    786     918
    Provision for loan losses                     312    170    515     329
    ------------------------------------------------------------------------
        Net interest income after provision
         for loan losses                           90    272    271     589

    NONINTEREST INCOME
    Service charges on deposit accounts            55     59    113     117
    Fiduciary income                               41     51     83     103
    Commercial lending fees                        19     20     37      36
    Letter of credit fees                          16     18     32      33
    Card fees                                      12     16     24      30
    Brokerage fees                                  8     10     17      20
    Foreign exchange income                        11     12     20      22
    Bank-owned life insurance                      10      8     18      18
    Net securities gains                          113     14    126      36
    Other noninterest income                       13     34     51      64
    ------------------------------------------------------------------------
        Total noninterest income                  298    242    521     479

    NONINTEREST EXPENSES
    Salaries                                      171    202    342     402
    Employee benefits                              53     48    108      95
    ------------------------------------------------------------------------
      Total salaries and employee benefits        224    250    450     497
    Net occupancy expense                          38     36     79      74
    Equipment expense                              15     16     31      31
    Outside processing fee expense                 25     28     50      51
    Software expense                               20     20     40      39
    FDIC insurance expense                         45      2     60       4
    Customer services                               1      3      1       9
    Litigation and operational losses
     (recoveries)                                   3      3      5      (5)
    Provision for credit losses on lending-
     related commitments                           (4)     7     (5)     11
    Other noninterest expenses                     62     58    115     115
    ------------------------------------------------------------------------
        Total noninterest expenses                429    423    826     826
    ------------------------------------------------------------------------
    Income (loss) from continuing operations
     before income taxes                          (41)    91    (34)    242
    Provision (benefit) for income taxes          (59)    35    (60)     76
    ------------------------------------------------------------------------
    Income from continuing operations              18     56     26     166
    Income (loss) from discontinued
     operations, net of tax                         -      -      1      (1)
    ------------------------------------------------------------------------
    NET INCOME                                     18     56     27     165
    Preferred stock dividends                      34      -     67       -
    ------------------------------------------------------------------------
    Net income (loss) applicable to common
     stock                                       $(16)   $56   $(40)   $165
    ========================================================================

    Basic earnings per common share:
      Income (loss) from continuing
       operations                              $(0.11) $0.37 $(0.27)  $1.10
      Net income (loss)                         (0.10)  0.37  (0.26)   1.09

    Diluted earnings per common share:
      Income (loss) from continuing
       operations                               (0.11)  0.37  (0.27)   1.10
      Net income (loss)                         (0.10)  0.37  (0.26)   1.09

    Cash dividends declared on common stock         8    100     15     199
    Cash dividends declared per common share     0.05   0.66   0.10    1.32
    ========================================================================



    CONSOLIDATED QUARTERLY STATEMENTS OF INCOME (unaudited)
    Comerica Incorporated and Subsidiaries
    -----------------------------------------------------------------------
                                 Second    First   Fourth    Third  Second
    (in millions, except per     Quarter  Quarter  Quarter  Quarter Quarter
     share data)                   2009     2009     2008     2008    2008
    -----------------------------------------------------------------------

    INTEREST INCOME
    Interest and fees on loans     $447     $452     $612     $634    $633
    Interest on investment
     securities                     103      109      101       99     101
    Interest on short-term
     investments                      2        2        3        2       3
    -----------------------------------------------------------------------
        Total interest income       552      563      716      735     737

    INTEREST EXPENSE
    Interest on deposits            106      125      158      141     182
    Interest on short-term
     borrowings                       -        2        9       30      19
    Interest on medium- and
     long-term debt                  44       52      118       98      94
    -----------------------------------------------------------------------
        Total interest expense      150      179      285      269     295
    -----------------------------------------------------------------------
        Net interest income         402      384      431      466     442
    Provision for loan losses       312      203      192      165     170
    -----------------------------------------------------------------------
        Net interest income
         after provision
         for loan losses             90      181      239      301     272

    NONINTEREST INCOME
    Service charges on deposit
     accounts                        55       58       55       57      59
    Fiduciary income                 41       42       47       49      51
    Commercial lending fees          19       18       16       17      20
    Letter of credit fees            16       16       17       19      18
    Card fees                        12       12       13       15      16
    Brokerage fees                    8        9       12       10      10
    Foreign exchange income          11        9        7       11      12
    Bank-owned life insurance        10        8        9       11       8
    Net securities gains            113       13        4       27      14
    Other noninterest income         13       38       (6)      24      34
    -----------------------------------------------------------------------
        Total noninterest income    298      223      174      240     242

    NONINTEREST EXPENSES
    Salaries                        171      171      187      192     202
    Employee benefits                53       55       53       46      48
    -----------------------------------------------------------------------
      Total salaries and
       employee benefits            224      226      240      238     250
    Net occupancy expense            38       41       42       40      36
    Equipment expense                15       16       16       15      16
    Outside processing fee
     expense                         25       25       27       26      28
    Software expense                 20       20       19       18      20
    FDIC insurance expense           45       15        7        6       2
    Customer services                 1        -        2        2       3
    Litigation and
     operational losses               3        2        3      105       3
    Provision for credit losses
     on lending-related
     commitments                     (4)      (1)      (2)       9       7
    Other noninterest expenses       62       53       57       55      58
    -----------------------------------------------------------------------
        Total noninterest expenses  429      397      411      514     423
    -----------------------------------------------------------------------
    Income (loss) from
     continuing
     operations before income
     taxes                          (41)       7        2       27      91
    Provision (benefit) for
     income taxes                   (59)      (1)     (17)       -      35
    -----------------------------------------------------------------------
    Income from continuing
     operations                      18        8       19       27      56
    Income (loss) from
     discontinued
     operations, net of tax           -        1        1        1       -
    -----------------------------------------------------------------------
    NET INCOME                       18        9       20       28      56
    Preferred stock dividends        34       33       17        -       -
    -----------------------------------------------------------------------
    Net income (loss)
     applicable to
     common stock                  $(16)    $(24)      $3      $28     $56
    =======================================================================

    Basic earnings per common share:
        Income (loss) from
         continuing operations   $(0.11)  $(0.16)   $0.01    $0.18   $0.37
        Net income (loss)         (0.10)   (0.16)    0.02     0.19    0.37

    Diluted earnings per
     common share:
       Income (loss) from
        continuing operations     (0.11)   (0.16)    0.01     0.18    0.37
       Net income (loss)          (0.10)   (0.16)    0.02     0.19    0.37

    Cash dividends declared on
     common stock                     8        7       50       99     100
    Cash dividends declared per
     common share                  0.05     0.05     0.33     0.66    0.66
    =======================================================================



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

    INTEREST INCOME
    Interest and fees on
     loans                      $(5)        (1)%    $(186)       (29)%
    Interest on investment
     securities                  (6)        (6)         2          2
    Interest on short-term
     investments                  -         20         (1)       (36)
    --------------------------------------------------------------------
        Total interest income   (11)        (2)      (185)       (25)

    INTEREST EXPENSE
    Interest on deposits        (19)       (15)       (76)       (42)
    Interest on short-term
     borrowings                  (2)       (70)       (19)       (97)
    Interest on medium- and
     long-term debt              (8)       (14)       (50)       (53)
    --------------------------------------------------------------------
        Total interest expense  (29)       (16)      (145)       (49)
    --------------------------------------------------------------------
        Net interest income      18          4        (40)        (9)
    Provision for loan losses   109         54        142         84
    --------------------------------------------------------------------
        Net interest income
         after provision
         for loan losses        (91)       (51)      (182)       (67)

    NONINTEREST INCOME
    Service charges on
     deposit accounts            (3)        (3)        (4)        (4)
    Fiduciary income             (1)        (2)       (10)       (18)
    Commercial lending fees       1          3         (1)        (8)
    Letter of credit fees         -          5         (2)        (9)
    Card fees                     -          7         (4)       (23)
    Brokerage fees               (1)        (6)        (2)       (19)
    Foreign exchange income       2         13         (1)       (13)
    Bank-owned life insurance     2         11          2         10
    Net securities gains        100        N/M         99        N/M
    Other noninterest income    (25)       (65)       (21)       (61)
    --------------------------------------------------------------------
        Total noninterest
         income                  75         34         56         24

    NONINTEREST EXPENSES
    Salaries                      -         (1)       (31)       (16)
    Employee benefits            (2)        (3)         5         12
    --------------------------------------------------------------------
      Total salaries and
       employee benefits         (2)        (1)       (26)       (10)
    Net occupancy expense        (3)        (7)         2          4
    Equipment expense            (1)        (3)        (1)        (2)
    Outside processing fee
     expense                      -          2         (3)        (9)
    Software expense              -          3          -          4
    FDIC insurance expense       30        N/M         43        N/M
    Customer services             1        N/M         (2)       (40)
    Litigation and operational
     losses                       1         32          -        (32)
    Provision for credit
     losses on lending-related
     commitments                 (3)       N/M        (11)       N/M
    Other noninterest expenses    9         14          4          6
    --------------------------------------------------------------------
        Total noninterest
         expenses                32          8          6          2
    --------------------------------------------------------------------
    Income (loss) from
     continuing operations
     before income taxes        (48)       N/M       (132)       N/M
    Provision (benefit) for
     income taxes               (58)       N/M        (94)       N/M
    --------------------------------------------------------------------
    Income from continuing
     operations                  10        N/M        (38)       (68)
    Income (loss) from
     discontinued operations,
     net of tax                  (1)       (77)         -        N/M
    --------------------------------------------------------------------
    NET INCOME                    9         87        (38)       (68)
    Preferred stock dividends     1          -         34        N/M
    --------------------------------------------------------------------
    Net income (loss)
     applicable to common
     stock                       $8         34%      $(72)       N/M%
    ====================================================================

    Basic earnings per common
     share:
        Income (loss) from
         continuing
         operations           $0.05         31%    $(0.48)       N/M%
        Net income (loss)      0.06         38      (0.47)       N/M

    Diluted earnings per
     common share:
        Income (loss) from
         continuing
         operations            0.05         31      (0.48)       N/M
        Net income (loss)      0.06         38      (0.47)       N/M

    Cash dividends declared
     on common stock              1          1        (92)       (92)
    Cash dividends declared
     per common share             -          -      (0.61)       (92)
    ====================================================================
    N/M - Not meaningful



    ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)
    Comerica Incorporated and Subsidiaries
    ---------------------------------------------------------------
                                         2009           2008
                                      ----------  -----------------
                                       2nd   1st   4th   3rd   2nd
    (in millions)                      Qtr   Qtr   Qtr   Qtr   Qtr
    ---------------------------------------------------------------
    Balance at beginning of period    $816  $770  $712  $663  $605

    Loan charge-offs:
      Commercial                        88    61    66    48    36
      Real estate construction:
        Commercial Real Estate
         business line                  81    57    35    40    57
        Other business lines             -     -     -     -     -
    ---------------------------------------------------------------
          Total real estate
           construction                 81    57    35    40    57
      Commercial mortgage:
        Commercial Real Estate
         business line                  23    16    21    17    14
        Other business lines            23    18     8    11     7
    ---------------------------------------------------------------
          Total commercial mortgage     46    34    29    28    21
      Residential mortgage               2     2     5     1     1
      Consumer                          12     6     7     5     3
      Lease financing                   24     -     1     -     -
      International                      4     1     1     -     -
    ---------------------------------------------------------------
        Total loan charge-offs         257   161   144   122   118

    Recoveries on loans previously
     charged-off:
      Commercial                         5     3     6     3     5
      Real estate construction           -     -     1     1     -
      Commercial mortgage                2     -     2     -     1
      Residential mortgage               -     -     -     -     -
      Consumer                           -     1     1     1     -
      Lease financing                    1     -     -     1     -
      International                      1     -     1     -     -
    ---------------------------------------------------------------
        Total recoveries                 9     4    11     6     6
    ---------------------------------------------------------------
    Net loan charge-offs               248   157   133   116   112
    Provision for loan losses          312   203   192   165   170
    Foreign currency translation
     adjustment                          -     -    (1)    -     -
    ---------------------------------------------------------------
    Balance at end of period          $880  $816  $770  $712  $663
    ===============================================================

    Allowance for loan losses
     as a percentage of total loans   1.89% 1.68% 1.52% 1.38% 1.28%

    Net loan charge-offs as a
     percentage of average total
     loans                            2.08  1.26  1.04  0.90  0.86

    Net credit-related charge-offs
     as a percentage of average total
     loans                            2.08  1.26  1.04  0.90  0.86
    ---------------------------------------------------------------



    ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS
     (unaudited)
    Comerica Incorporated and Subsidiaries
    --------------------------------------------------------------------------
                                               2009                2008
                                           ------------     ------------------
                                           2nd      1st     4th     3rd    2nd
    (in millions)                          Qtr      Qtr     Qtr     Qtr    Qtr
    --------------------------------------------------------------------------

    Balance at beginning of period          $37     $38     $40     $31    $25
    Less: Charge-offs on lending-related
     commitments (a)                          -       -       -       -      1
    Add: Provision for credit losses on
     lending-related commitments             (4)     (1)     (2)      9      7
    --------------------------------------------------------------------------
    Balance at end of period                $33     $37     $38     $40    $31
    --------------------------------------------------------------------------

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

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



    NONPERFORMING ASSETS (unaudited)
    Comerica Incorporated and Subsidiaries
    -------------------------------------------------------------------------
                                                2009              2008
                                             ----------     ----------------
                                             2nd    1st     4th    3rd   2nd
    (in millions)                            Qtr    Qtr     Qtr    Qtr   Qtr
    -------------------------------------------------------------------------

    SUMMARY OF NONPERFORMING ASSETS AND
     PAST DUE LOANS
    Nonaccrual loans:
      Commercial                             $327    $258   $205  $206  $155
      Real estate construction:
        Commercial Real Estate business
         line                                 472     426    429   386   322
        Other business lines                    4       5      5     5     4
    -------------------------------------------------------------------------
          Total real estate construction      476     431    434   391   326
      Commercial mortgage:
        Commercial Real Estate business
         line                                 134     131    132   137   143
        Other business lines                  175     138    130   114    95
    -------------------------------------------------------------------------
          Total commercial mortgage           309     269    262   251   238
      Residential mortgage                      7       8      7     8     4
      Consumer                                  7       8      6     4     5
      Lease financing                           -       2      1     -     -
      International                             4       6      2     3     3
    -------------------------------------------------------------------------
          Total nonaccrual loans            1,130     982    917   863   731
    Reduced-rate loans                          -       -      -     -     -
    -------------------------------------------------------------------------
          Total nonperforming loans         1,130     982    917   863   731
    Foreclosed property                       100      91     66    18    17
    -------------------------------------------------------------------------
          Total nonperforming assets       $1,230  $1,073   $983  $881  $748
    =========================================================================

    Nonperforming loans as a percentage
     of total loans                          2.43%   2.02%  1.82% 1.67% 1.41%
    Nonperforming assets as a percentage
     of total loans and foreclosed property  2.64    2.20   1.94  1.71  1.44
    Allowance for loan losses as a
     percentage of total nonperforming
     loans                                     78      83     84    82    91
    Loans past due 90 days or more and
     still accruing                          $210    $207   $125   $97  $112


    ANALYSIS OF NONACCRUAL LOANS
    Nonaccrual loans at beginning of
     period                                  $982    $917   $863  $731  $538
      Loans transferred to nonaccrual (a)     419     241    258   280   304
      Nonaccrual business loan gross
       charge-offs (b)                       (242)   (153)  (132) (116) (113)
      Loans transferred to accrual
       status (a)                               -      (4)   (11)    -     -
      Nonaccrual business loans sold (c)      (10)     (3)   (14)  (18)    -
      Payments/Other (d)                      (19)    (16)   (47)  (14)    2
    -------------------------------------------------------------------------
    Nonaccrual loans at end
     of period                             $1,130    $982   $917  $863  $731
    =========================================================================


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

        Nonaccrual business loans            $242    $153   $132  $116  $113
        Performing watch list loans             1       -      -     -     1
        Consumer and residential
         mortgage loans                        14       8     12     6     4
                                             --------------------------------
            Total gross loan charge-offs     $257    $161   $144  $122  $118
                                             ================================
    (c) Analysis of loans sold:

        Nonaccrual business loans             $10      $3    $14   $18    $-
        Performing watch list loans             6       -      -     3     7
                                             --------------------------------
            Total loans sold                  $16      $3    $14   $21    $7
                                             ================================
    (d) 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) (unaudited)
    Comerica Incorporated and Subsidiaries
    ---------------------------------------------------------------------
                                                   Six Months Ended
                                             ----------------------------
                                                    June 30, 2009
                                             ----------------------------
                                             Average             Average
    (dollar amounts in millions)             Balance   Interest    Rate
    ---------------------------------------------------------------------

    Commercial loans (a) (b)                 $26,413      $453     3.47%
    Real estate construction loans             4,417        65     2.97
    Commercial mortgage loans                 10,454       217     4.19
    Residential mortgage loans                 1,821        52     5.70
    Consumer loans                             2,573        48     3.72
    Lease financing (c)                        1,263        17     2.66
    International loans                        1,655        32     3.88
    Business loan swap income (expense)            -        17        -
                                             ----------------------------
      Total loans (b)                         48,596       901     3.74

    Auction-rate securities available-for-
     sale                                      1,098         9     1.60
    Other investment securities
     available-for-sale                        8,858       205     4.76
                                             ----------------------------
      Total investment securities
       available-for-sale                      9,956       214     4.40

    Federal funds sold and securities purchased
     under agreements to resell                   35         -     0.32
    Interest-bearing deposits with banks       1,862         2     0.26
    Other short-term investments                 182         2     1.78
                                             ----------------------------
      Total earning assets                    60,631     1,119     3.73

    Cash and due from banks                      915
    Allowance for loan losses                   (872)
    Accrued income and other assets            4,816
                                             -------
      Total assets                           $65,490
                                             =======

    Money market and NOW deposits (a)        $12,319        34     0.56
    Savings deposits                           1,316         1     0.14
    Customer certificates of deposit           8,788       113     2.60
                                             ----------------------------
      Total interest-bearing core
       deposits                               22,423       148     1.33
    Other time deposits                        5,699        82     2.89
    Foreign office time deposits                 702         1     0.33
                                             ----------------------------
      Total interest-bearing deposits         28,824       231     1.62

    Short-term borrowings                      1,682         2     0.26
    Medium- and long-term debt                14,461        96     1.33
                                             ----------------------------
      Total interest-bearing sources          44,967       329     1.48
                                                       ------------------

    Noninterest-bearing deposits (a)          11,958
    Accrued expenses and other liabilities     1,411
    Total shareholders' equity                 7,154
                                             -------
      Total liabilities and
       shareholders' equity                  $65,490
                                             =======

    Net interest income/rate spread (FTE)                 $790     2.25
                                                       =======

    FTE adjustment                                          $4
                                                       =======

    Impact of net noninterest-bearing
     sources of funds                                              0.38
    ---------------------------------------------------------------------
    Net interest margin (as a percentage
     of average earning assets) (FTE) (b) (c)                      2.63%
    =====================================================================
    N/M - Not meaningful

    (a) FSD balances included above:
          Loans (primarily low-rate)            $214        $2     1.84%
          Interest-bearing deposits              534         2     0.65
          Noninterest-bearing deposits         1,342
    (b) 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)                                                  -
    (c) 2008 net interest income declined $30 million and the net interest
        margin declined 10 basis points due to a tax-related non-cash
        lease income charge. Excluding this charge, the net interest margin
        would have been 3.17%.



    ---------------------------------------------------------------------
                                                   Six Months Ended
                                             ----------------------------
                                                    June 30, 2008
                                             ----------------------------
                                             Average             Average
    (dollar amounts in millions)             Balance   Interest    Rate
    ---------------------------------------------------------------------

    Commercial loans (a) (b)                 $29,230      $786     5.41%
    Real estate construction loans             4,827       130     5.40
    Commercial mortgage loans                 10,258       300     5.88
    Residential mortgage loans                 1,911        58     6.02
    Consumer loans                             2,499        69     5.53
    Lease financing (c)                        1,349        (8)    N/M
    International loans                        2,036        55     5.42
    Business loan swap income (expense)            -        15        -
                                             ----------------------------
      Total loans (b)                         52,110     1,405     5.42

    Auction-rate securities available-for-
     sale                                          -         -        -
    Other investment securities
     available-for-sale                        7,759       189     4.91
                                             ----------------------------
      Total investment securities
       available-for-sale                      7,759       189     4.91

    Federal funds sold and securities purchased
     under agreements to resell                  115         1     2.56
    Interest-bearing deposits with banks          20         -     2.19
    Other short-term investments                 299         7     4.21
                                             ----------------------------
      Total earning assets                    60,303     1,602     5.34

    Cash and due from banks                    1,229
    Allowance for loan losses                   (630)
    Accrued income and other assets            4,043
                                             -------
      Total assets                           $64,945
                                             =======

    Money market and NOW deposits (a)        $15,063       125     1.67
    Savings deposits                           1,382         4     0.54
    Customer certificates of deposit           8,161       148     3.64
                                             ----------------------------
      Total interest-bearing core
       deposits                               24,606       277     2.26
    Other time deposits                        7,482       139     3.73
    Foreign office time deposits               1,190        19     3.29
                                             ----------------------------
      Total interest-bearing deposits         33,278       435     2.63

    Short-term borrowings                      3,411        48     2.82
    Medium- and long-term debt                10,949       199     3.66
                                             ----------------------------
      Total interest-bearing sources          47,638       682     2.88
                                                       ------------------

    Noninterest-bearing deposits (a)          10,635
    Accrued expenses and other liabilities     1,479
    Total shareholders' equity                 5,193
                                             -------
      Total liabilities and
       shareholders' equity                  $64,945
                                             =======

    Net interest income/rate spread (FTE)                 $920     2.46
                                                       =======

    FTE adjustment                                          $2
                                                       =======

    Impact of net noninterest-bearing
     sources of funds                                              0.61
    ---------------------------------------------------------------------
    Net interest margin (as a percentage
     of average earning assets) (FTE) (b) (c)                      3.07%
    =====================================================================
    N/M - Not meaningful

    (a) FSD balances included above:
          Loans (primarily low-rate)            $635        $4     1.23%
          Interest-bearing deposits            1,044        12     2.31
          Noninterest-bearing deposits         1,858
    (b) Impact of FSD loans (primarily
         low-rate) on the following:
          Commercial loans                                        (0.10)%
          Total loans                                             (0.05)
          Net interest margin (FTE)
           (assuming loans were
           funded by noninterest-bearing
           deposits)                                              (0.02)
    (c) 2008 net interest income declined $30 million and the net interest
        margin declined 10 basis points due to a tax-related non-cash
        lease income charge. Excluding this charge, the net interest margin
        would have been 3.17%.



    ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
    Comerica Incorporated and Subsidiaries
    ---------------------------------------------------------------------
                                                  Three Months Ended
                                             ----------------------------
                                                    June 30, 2009
                                             ----------------------------
                                             Average             Average
    (dollar amounts in millions)             Balance   Interest    Rate
    ---------------------------------------------------------------------

    Commercial loans (a) (b)                 $25,657      $225     3.55%
    Real estate construction loans             4,325        32     2.95
    Commercial mortgage loans                 10,476       108     4.17
    Residential mortgage loans                 1,795        26     5.74
    Consumer loans                             2,572        24     3.65
    Lease financing (c)                        1,227         8     2.48
    International loans                        1,596        16     3.90
    Business loan swap income                      -         9        -
                                             ----------------------------
      Total loans (b)                         47,648       448     3.77

    Auction-rate securities available-for-
     sale                                      1,052         4     1.48
    Other investment securities
     available-for-sale                        8,734       100     4.70
                                             ----------------------------
      Total investment securities
       available-for-sale                      9,786       104     4.35

    Federal funds sold and securities purchased
     under agreements to resell                   13         -     0.33
    Interest-bearing deposits with banks       1,876         1     0.28
    Other short-term investments                 199         1     1.88
                                             ----------------------------
      Total earning assets                    59,522       554     3.75

    Cash and due from banks                      881
    Allowance for loan losses                   (913)
    Accrued income and other assets            4,766
                                             -------
      Total assets                           $64,256
                                             =======

    Money market and NOW deposits (a)        $12,304        15     0.49
    Savings deposits                           1,354         -     0.11
    Customer certificates of deposit           8,721        55     2.53
                                             ----------------------------
      Total interest-bearing core
       deposits                               22,379        70     1.26
    Other time deposits                        5,124        36     2.75
    Foreign office time deposits                 734         -     0.26
                                             ----------------------------
      Total interest-bearing deposits         28,237       106     1.50

    Short-term borrowings                      1,010         -     0.20
    Medium- and long-term debt                14,002        44     1.27
                                             ----------------------------
      Total interest-bearing sources          43,249       150     1.40
                                                       ------------------

    Noninterest-bearing deposits (a)          12,546
    Accrued expenses and other liabilities     1,308
    Total shareholders' equity                 7,153
                                             -------
      Total liabilities and
       shareholders' equity                  $64,256
                                             =======

    Net interest income/rate spread (FTE)                 $404     2.35
                                                       =======

    FTE adjustment                                          $2
                                                       =======

    Impact of net noninterest-bearing
     sources of funds                                              0.38
    ---------------------------------------------------------------------
    Net interest margin (as a percentage
     of average earning assets) (FTE) (b) (c)                      2.73%
    =====================================================================
    N/M - Not meaningful

    (a) FSD balances included above:
          Loans (primarily low-rate)            $216        $1     1.71%
          Interest-bearing deposits              452         1     0.70
           Noninterest-bearing deposits        1,414
    (b) 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)                                                  -
    (c) Second quarter 2008 net interest income declined $30 million and the
        net interest margin declined 19 basis points due to a tax-related
        non-cash lease income charge. Excluding this charge, the net interest
        margin would have been 3.10%.



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

    Commercial loans (a) (b)                 $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 (c)                        1,300         9     2.82
    International loans                        1,715        16     3.85
    Business loan swap income                      -         8        -
                                             ----------------------------
      Total loans (b)                         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 (a)        $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 (a)          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) (b) (c)                      2.53%
    =====================================================================
    N/M - Not meaningful

    (a) FSD balances included above:
          Loans (primarily low-rate)            $212        $1     1.97%
          Interest-bearing deposits              617         1     0.61
          Noninterest-bearing deposits         1,269
    (b) 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)
    (c) Second quarter 2008 net interest income declined $30 million and the
        net interest margin declined 19 basis points due to a tax-related
        non-cash lease income charge. Excluding this charge, the net interest
        margin would have been 3.10%.



    ---------------------------------------------------------------------
                                                  Three Months Ended
                                             ----------------------------
                                                    June 30, 2008
                                             ----------------------------
                                             Average             Average
    (dollar amounts in millions)             Balance   Interest    Rate
    ---------------------------------------------------------------------

    Commercial loans (a) (b)                 $29,280      $357     4.90%
    Real estate construction loans             4,843        59     4.89
    Commercial mortgage loans                 10,374       141     5.47
    Residential mortgage loans                 1,906        29     6.03
    Consumer loans                             2,549        32     5.06
    Lease financing (c)                        1,352       (19)     N/M
    International loans                        2,063        25     4.86
    Business loan swap income                      -        10        -
                                             ----------------------------
      Total loans (b)                         52,367       634     4.87

    Auction-rate securities available-for-
     sale                                          -         -        -
    Other investment securities
     available-for-sale                        8,296       101     4.89
                                             ----------------------------
      Total investment securities
       available-for-sale                      8,296       101     4.89

    Federal funds sold and securities purchased
     under agreements to resell                  150         1     2.17
    Interest-bearing deposits with banks          20         -     1.61
    Other short-term investments                 255         2     3.90
                                             ----------------------------
      Total earning assets                    61,088       738     4.86

    Cash and due from banks                    1,217
    Allowance for loan losses                   (664)
    Accrued income and other assets            4,322
                                             -------
      Total assets                           $65,963
                                             =======

    Money market and NOW deposits (a)        $14,784        46     1.26
    Savings deposits                           1,405         2     0.45
    Customer certificates of deposit           8,037        64     3.20
                                             ----------------------------
      Total interest-bearing core
       deposits                               24,226       112     1.86
    Other time deposits                        7,707        61     3.21
    Foreign office time deposits               1,183         8     2.77
                                             ----------------------------
      Total interest-bearing deposits         33,116       181     2.20

    Short-term borrowings                      3,326        19     2.33
    Medium- and long-term debt                12,041        95     3.15
                                             ----------------------------
      Total interest-bearing sources          48,483       295     2.45
                                                       ------------------

    Noninterest-bearing deposits (a)          10,648
    Accrued expenses and other liabilities     1,639
    Total shareholders' equity                 5,193
                                             -------
      Total liabilities and
       shareholders' equity                  $65,963
                                             =======

    Net interest income/rate spread (FTE)                 $443     2.41
                                                       =======

    FTE adjustment                                          $1
                                                       =======

    Impact of net noninterest-bearing
     sources of funds                                              0.50
    ---------------------------------------------------------------------
    Net interest margin (as a percentage
     of average earning assets) (FTE) (b) (c)                      2.91%
    =====================================================================
    N/M - Not meaningful

    (a) FSD balances included above:
          Loans (primarily low-rate)            $469        $2     1.42%
          Interest-bearing deposits              994         4     1.81
          Noninterest-bearing deposits         1,823
    (b) Impact of FSD loans (primarily
         low-rate) on the following:
          Commercial loans                                        (0.06)%
          Total loans                                             (0.03)
          Net interest margin (FTE)
           (assuming loans were
           funded by noninterest-bearing
           deposits)                                              (0.01)
    (c) Second quarter 2008 net interest income declined $30 million and the
        net interest margin declined 19 basis points due to a tax-related
        non-cash lease income charge. Excluding this charge, the net interest
        margin would have been 3.10%.



    CONSOLIDATED STATISTICAL DATA (unaudited)
    Comerica Incorporated and Subsidiaries
    -------------------------------------------------------------------
    (in millions, except per      June 30,    March 31,    December 31,
     share data)                    2009        2009           2008
    -------------------------------------------------------------------

    Commercial loans:
      Floor plan                    $1,492      $1,763         $2,341
      Other                         23,430      24,668         25,658
    -------------------------------------------------------------------
        Total commercial loans      24,922      26,431         27,999
    Real estate construction loans:
      Commercial Real Estate
       business line                 3,500       3,711          3,831
      Other business lines             652         668            646
    -------------------------------------------------------------------
        Total real estate
         construction loans          4,152       4,379          4,477
    Commercial mortgage loans:
      Commercial Real Estate
       business line                 1,728       1,659          1,619
      Other business lines           8,672       8,855          8,870
    -------------------------------------------------------------------
        Total commercial
         mortgage loans             10,400      10,514         10,489
    Residential mortgage loans       1,759       1,836          1,852
    Consumer loans:
      Home equity                    1,801       1,791          1,781
      Other consumer                   761         786            811
    -------------------------------------------------------------------
        Total consumer loans         2,562       2,577          2,592
    -------------------------------------------------------------------
    Lease financing                  1,234       1,232          1,343
    International loans              1,523       1,655          1,753
    -------------------------------------------------------------------
        Total loans                $46,552     $48,624        $50,505
    ===================================================================

    Goodwill                          $150        $150           $150
    Loan servicing rights                9          10             11

    Tier 1 common capital ratio
     (a) (b)                          7.65%       7.32%          7.08%
    Tier 1 risk-based capital
     ratio (b)                       11.57       11.06          10.66
    Total risk-based capital
     ratio (b)                       15.96       15.36          14.72
    Leverage ratio (b)               12.12       11.65          11.77
    Tangible common equity ratio
     (a)                              7.55        7.27           7.21

    Book value per common share     $32.70      $33.32         $33.31
    Market value per share for
     the quarter:
      High                           26.47       21.20          37.01
      Low                            16.03       11.72          15.05
      Close                          21.15       18.31          19.85

    Quarterly ratios:
      Return on average common
       shareholders' equity          (1.25)%     (1.90)%         0.19%
      Return on average assets        0.11        0.06           0.12
      Efficiency ratio               72.75       66.61          68.19

    Number of banking centers          441         440            439

    Number of employees - full
     time equivalent                 9,497       9,696         10,186

    (a) See Reconciliation of Non-GAAP Financial Measures
    (b) June 30, 2009 ratios are estimated



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

    Commercial loans:
      Floor plan                                       $2,151    $2,645
      Other                                            26,453    26,118
    -----------------------------------------------------------------------
        Total commercial loans                         28,604    28,763
    Real estate construction loans:
      Commercial Real Estate business line              3,937     4,013
      Other business lines                                628       671
    -----------------------------------------------------------------------
        Total real estate construction loans            4,565     4,684
    Commercial mortgage loans:
      Commercial Real Estate business line              1,668     1,620
      Other business lines                              8,920     8,884
    -----------------------------------------------------------------------
        Total commercial mortgage loans                10,588    10,504
    Residential mortgage loans                          1,863     1,879
    Consumer loans:
      Home equity                                       1,693     1,649
      Other consumer                                      951       945
    -----------------------------------------------------------------------
        Total consumer loans                            2,644     2,594
    -----------------------------------------------------------------------
    Lease financing                                     1,360     1,351
    International loans                                 1,931     1,976
    -----------------------------------------------------------------------
        Total loans                                   $51,555   $51,751
    =======================================================================

    Goodwill                                             $150      $150
    Loan servicing rights                                  12        12

    Tier 1 common capital ratio (a) (b)                  6.67%     6.79%
    Tier 1 risk-based capital ratio (b)                  7.32      7.45
    Total risk-based capital ratio (b)                  11.19     11.21
    Leverage ratio (b)                                   8.57      8.53
    Tangible common equity ratio (a)                     7.60      7.47

    Book value per common share                        $33.89    $33.78
    Market value per share for the quarter:
      High                                              43.99     40.62
      Low                                               19.31     25.61
      Close                                             32.79     25.63

    Quarterly ratios:
      Return on average common shareholders'
       equity                                            2.25%     4.25%
      Return on average assets                           0.18      0.33
      Efficiency ratio                                  75.53     63.02

    Number of banking centers                             424       416

    Number of employees - full time equivalent         10,347    10,530

    (a) See Reconciliation of Non-GAAP Financial Measures
    (b) June 30, 2009 ratios are estimated



    PARENT COMPANY ONLY BALANCE SHEETS (unaudited)
    Comerica Incorporated
    -----------------------------------------------------------------------
                                      June 30,   December 31,    June 30,
    (in millions, except share data)    2009          2008        2008
    -----------------------------------------------------------------------

    ASSETS
    Cash and due from subsidiary bank     $5           $11          $4
    Short-term investments with
     subsidiary bank                   2,223         2,329         179
    Other short-term investments          80            80         105
    Investment in subsidiaries,
     principally banks                 5,700         5,690       5,818
    Premises and equipment                 4             5           4
    Other assets                         190           210         169
    -----------------------------------------------------------------------
      Total assets                    $8,202        $8,325      $6,279
    =======================================================================

    LIABILITIES AND SHAREHOLDERS' EQUITY
    Medium- and long-term debt          $985        $1,002        $967
    Other liabilities                    124           171         230
    -----------------------------------------------------------------------
      Total liabilities                1,109         1,173       1,197

    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
       6/30/09 and 12/31/08            2,140         2,129           -
    Common stock - $5 par value:
      Authorized - 325,000,000 shares
      Issued - 178,735,252 shares
       at 06/30/09, 12/31/08 and
       06/30/08                          894           894         894
    Capital surplus                      731           722         576
    Accumulated other comprehensive
     loss                               (342)         (309)       (207)
    Retained earnings                  5,257         5,345       5,451
    Less cost of common stock in
     treasury - 27,620,471 shares
     at 6/30/09, 28,244,967 shares
     at 12/31/08 and 28,281,490
     shares at 6/30/08                (1,587)       (1,629)     (1,632)
    -----------------------------------------------------------------------
      Total shareholders' equity       7,093         7,152       5,082
    -----------------------------------------------------------------------
      Total liabilities and
       shareholders' equity           $8,202        $8,325      $6,279
    =======================================================================



    CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited)
    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
     loss, net of tax          -                -         -              -
    Total comprehensive
     income
    Cash dividends
     declared on
     common stock
     ($1.32 per share)         -                -         -              -
    Net issuance of common
     stock under employee
     stock plans               -              0.5         -            (19)
    Share-based compensation   -                -         -             31
    -----------------------------------------------------------------------
    BALANCE AT JUNE 30,
     2008                     $-            150.5      $894           $576
    -----------------------------------------------------------------------
    BALANCE AT JANUARY 1,
     2009                 $2,129            150.5      $894           $722
    Net income                 -                -         -              -
    Other comprehensive
     loss, net of tax          -                -         -              -
    Total comprehensive loss
    Cash dividends
     declared on
     preferred stock           -                -         -              -
    Cash dividends
     declared on
     common stock
     ($0.10 per share)         -                -         -              -
    Purchase of common
     stock                     -             (0.1)        -              -
    Accretion of discount
     on preferred stock       11                -         -              -
    Net issuance of common
     stock under employee
     stock plans               -              0.7         -            (14)
    Share-based
     compensation              -                -         -             18
    Other                      -                -         -              5
    -----------------------------------------------------------------------
    BALANCE AT
     JUNE 30, 2009        $2,140            151.1      $894           $731
    =======================================================================



    -----------------------------------------------------------------------
                         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                 -              165         -            165
    Other comprehensive
     loss, net of tax        (30)               -         -            (30)
                                                                    ------
    Total comprehensive
     income                                                            135
    Cash dividends
     declared on common
     stock ($1.32 per share)   -             (199)        -           (199)
    Net issuance of common
     stock under employee
     stock plans               -              (12)       29             (2)
    Share-based
     compensation              -                -         -             31
    -----------------------------------------------------------------------
    BALANCE AT JUNE 30,
     2008                  $(207)          $5,451   $(1,632)        $5,082
    -----------------------------------------------------------------------
    BALANCE AT JANUARY 1,
     2009                  $(309)          $5,345   $(1,629)        $7,152
    Net income                 -               27         -             27
    Other comprehensive
     loss, net of tax        (33)               -         -            (33)
                                                                    ------
    Total comprehensive
     loss                                                               (6)
    Cash dividends
     declared on
     preferred stock           -              (57)        -            (57)
    Cash dividends
     declared on
     common stock
     ($0.10 per share)         -              (15)        -            (15)
    Purchase of common
     stock                     -                -        (1)            (1)
    Accretion of discount
     on preferred stock        -              (11)        -              -
    Net issuance of common
     stock under employee
     stock plans               -              (32)       43             (3)
    Share-based
     compensation              -                -         -             18
    Other                      -                -         -              5
    -----------------------------------------------------------------------
    BALANCE AT JUNE 30,
     2009                  $(342)          $5,257   $(1,587)        $7,093
    =======================================================================



    BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)
    Comerica Incorporated and Subsidiaries
    -----------------------------------------------------------------------
    (dollar amounts in millions)                             Wealth &
    Three Months Ended June 30,       Business    Retail   Institutional
     2009                               Bank       Bank      Management
    -----------------------------------------------------------------------
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $328       $128          $40
    Provision for loan losses            252         42           13
    Noninterest income                    50         46           73
    Noninterest expenses                 157        167           77
    Provision (benefit) for income
     taxes (FTE)                         (36)       (17)           8
    Income from discontinued
     operations, net of tax                -          -            -
                                     --------------------------------------
    Net income (loss)                     $5       $(18)         $15
                                     ======================================
    Net credit-related charge-offs      $211        $29           $8

    Selected average balances:
    Assets                           $37,521     $6,693        $4,965
    Loans                             36,760      6,115         4,776
    Deposits                          14,827     17,666         2,599
    Liabilities                       15,110     17,639         2,593
    Attributed equity                  3,353        648           373

    Statistical data:
    Return on average assets (a)        0.05%     (0.40)%        1.21%
    Return on average attributed
     equity                             0.58     (11.41)        16.11
    Net interest margin (b)             3.58       2.90          3.29
    Efficiency ratio                   41.79      95.00         69.77
    =======================================================================



    -----------------------------------------------------------------------
    (dollar amounts in millions)
    Three Months Ended June 30,
     2009                             Finance       Other        Total
    -----------------------------------------------------------------------
    Earnings summary:
    Net interest income (expense)
     (FTE)                             $(101)        $9          $404
    Provision for loan losses              -          5           312
    Noninterest income                   124          5           298
    Noninterest expenses                   7         21           429
    Provision (benefit) for income
     taxes (FTE)                           8        (20)          (57)
    Income from discontinued
     operations, net of tax                -          -             -
                                     --------------------------------------
    Net income (loss)                     $8         $8           $18
                                     ======================================
    Net credit-related charge-offs        $-         $-          $248

    Selected average balances:
    Assets                           $12,320     $2,757       $64,256
    Loans                                  3         (6)       47,648
    Deposits                           5,669         22        40,783
    Liabilities                       21,484        277        57,103
    Attributed equity                  1,140      1,639         7,153

    Statistical data:
    Return on average assets (a)         N/M        N/M          0.11%
    Return on average attributed
     equity                              N/M        N/M         (1.25)
    Net interest margin (b)              N/M        N/M          2.73
    Efficiency ratio                     N/M        N/M         72.75
    =======================================================================
    (a) Return on average assets is calculated based on the greater of average
        assets or average liabilities and attributed equity.
    (b) 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
    =======================================================================



    -----------------------------------------------------------------------
                                                            Wealth &
    Three Months Ended March 31,     Business    Retail    Institutional
     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 (a)        0.57%     (0.16)%        1.10%
    Return on average attributed
     equity                             6.78      (4.48)        15.80
    Net interest margin (b)             3.28       2.93          3.11
    Efficiency ratio                   38.55      94.01         74.09
    =======================================================================



    -----------------------------------------------------------------------
    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 (a)         N/M        N/M          0.06%
    Return on average attributed
     equity                              N/M        N/M         (1.90)
    Net interest margin (b)              N/M        N/M          2.53
    Efficiency ratio                     N/M        N/M         66.61
    =======================================================================
    (a) Return on average assets is calculated based on the greater of average
        assets or average liabilities and attributed equity.
    (b) 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
    =======================================================================



    -----------------------------------------------------------------------
                                                              Wealth &
    Three Months Ended June 30,       Business    Retail    Institutional
     2008                               Bank       Bank       Management
    -----------------------------------------------------------------------
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $296       $146          $37
    Provision for loan losses            123         29            5
    Noninterest income                    92         54           74
    Noninterest expenses                 185        161           83
    Provision (benefit) for income
     taxes (FTE)                          23          3            9
    Income from discontinued operations,
      net of tax                           -          -            -
                                     --------------------------------------
    Net income (loss)                    $57         $7          $14
                                     ======================================
    Net credit-related charge-offs       $96        $14           $3

    Selected average balances:
    Assets                           $42,335     $7,100       $4,646
    Loans                             41,510      6,348        4,502
    Deposits                          15,384     17,043        2,493
    Liabilities                       16,156     17,041        2,501
    Attributed equity                  3,278        657          333

    Statistical data:
    Return on average assets (a)        0.53%      0.15%        1.19%
    Return on average attributed
     equity                             6.86       4.13        16.57
    Net interest margin (b)             2.86       3.45         3.29
    Efficiency ratio                   49.26      80.61        75.20
    =======================================================================



    -----------------------------------------------------------------------
    Three Months Ended June 30,
     2008                             Finance     Other         Total
    -----------------------------------------------------------------------
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $(28)       $(8)        $443
    Provision for loan losses              -         13          170
    Noninterest income                    18          4          242
    Noninterest expenses                   2         (8)         423
    Provision (benefit) for income
     taxes (FTE)                          (7)         8           36
    Income from discontinued
     operations, net of tax                -          -            -
                                     --------------------------------------
    Net income (loss)                    $(5)      $(17)         $56
                                     ======================================
    Net credit-related charge-offs        $-         $-         $113

    Selected average balances:
    Assets                           $10,333     $1,549      $65,963
    Loans                                  5          2       52,367
    Deposits                           8,409        435       43,764
    Liabilities                       24,334        738       60,770
    Attributed equity                    948        (23)       5,193

    Statistical data:
    Return on average assets (a)         N/M        N/M         0.33%
    Return on average attributed
     equity                              N/M        N/M         4.25
    Net interest margin (b)              N/M        N/M         2.91
    Efficiency ratio                     N/M        N/M        63.02
    =======================================================================
    (a) Return on average assets is calculated based on the greater of average
        assets or average liabilities and attributed equity.
    (b) 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 (unaudited)
    Comerica Incorporated and Subsidiaries
    ----------------------------------------------------------------------
    (dollar amounts in millions)
    Three Months Ended
     June 30, 2009            Midwest        Western      Texas    Florida
    ----------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)           $200           $154          $73      $11
    Provision for loan losses   119             90           28       20
    Noninterest income           92             32           21        3
    Noninterest expenses        186            113           60        9
    Provision (benefit)
     for income taxes (FTE)     (13)           (10)           1       (7)
    Income from discontinued
     operations, net of tax       -              -            -        -
                            ----------------------------------------------
    Net income (loss)            $-            $(7)          $5      $(8)
                            ==============================================
    Net credit-related
     charge-offs                $99            $70          $11      $23

    Selected average
     balances:
    Assets                  $18,122        $14,901       $7,798   $1,820
    Loans                    17,427         14,684        7,547    1,820
    Deposits                 17,166         10,717        4,496      331
    Liabilities              17,461         10,625        4,505      321
    Attributed equity         1,568          1,358          694      182

    Statistical data:
    Return on average
     assets (a)                0.01%         (0.19)%       0.23%   (1.78)%
    Return on average
     attributed equity         0.10          (2.13)        2.63   (17.76)
    Net interest
     margin (b)                4.56           4.20         3.88     2.44
    Efficiency ratio          63.68          60.67        63.98    66.24
    ======================================================================



    ----------------------------------------------------------------------
    (dollar amounts in millions)                        Finance
    Three Months Ended        Other                      & Other
     June 30, 2009           Markets    International   Businesses  Total
    ----------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)            $41            $17         $(92)    $404
    Provision for loan
     losses                      43              7            5      312
    Noninterest income           13              8          129      298
    Noninterest expenses         25              8           28      429
    Provision (benefit)
     for income taxes (FTE)     (20)             4          (12)     (57)
    Income from
     discontinued
     operations,
     net of tax                   -              -            -        -
                            ----------------------------------------------
    Net income (loss)            $6             $6          $16      $18
                            ==============================================
    Net credit-related
     charge-offs                $42             $3           $-     $248

    Selected average
     balances:
    Assets                   $4,488         $2,050      $15,077  $64,256
    Loans                     4,157          2,016           (3)  47,648
    Deposits                  1,582            800        5,691   40,783
    Liabilities               1,643            787       21,761   57,103
    Attributed equity           415            157        2,779    7,153

    Statistical data:
    Return on average
     assets (a)                0.53%          1.13%       N/M       0.11%
    Return on average
     attributed equity         5.77          14.71        N/M      (1.25)
    Net interest
     margin (b)                4.00           3.27        N/M       2.73
    Efficiency ratio          48.44          30.99        N/M      72.75
    ======================================================================
    (a) Return on average assets is calculated based on the greater of average
        assets or average liabilities and attributed equity.
    (b) 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
    ======================================================================



    ----------------------------------------------------------------------
    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 (a)                0.63%         (0.18)%       0.72%   (1.29)%
    Return on average
     attributed equity         7.57          (1.98)        8.54   (15.87)
    Net interest
     margin (b)                4.30           3.91         3.62     2.31
    Efficiency ratio          59.91          57.17        64.45    61.06
    ======================================================================



    ----------------------------------------------------------------------
                                                        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 (a)                1.89%          1.69%       N/M       0.06%
    Return on average
     attributed equity        22.45          24.55        N/M      (1.90)
    Net interest
     margin (b)                3.65           2.74        N/M       2.53
    Efficiency ratio          44.70          33.86        N/M      66.61
    ======================================================================
    (a) Return on average assets is calculated based on the greater of average
        assets or average liabilities and attributed equity.
    (b) 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
    ======================================================================



    ----------------------------------------------------------------------
    Three Months Ended
     June 30, 2008            Midwest       Western        Texas   Florida
    ----------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)           $172           $171          $74      $12
    Provision for loan
     losses                      24            113            6        7
    Noninterest income          136             34           22        4
    Noninterest expenses        205            115           63       11
    Provision (benefit)
     for income taxes (FTE)      27             (3)          10       (1)
    Income from
     discontinued
     operations,
     net of tax                   -              -            -        -
                            ----------------------------------------------
    Net income (loss)           $52           $(20)         $17      $(1)
                            ==============================================
    Net credit-related
     charge-offs                $42            $59           $3       $8

    Selected average
     balances:
    Assets                  $19,846        $17,269       $8,063   $1,854
    Loans                    19,224         16,945        7,795    1,851
    Deposits                 16,021         12,346        4,061      306
    Liabilities              16,716         12,327        4,076      302
    Attributed equity         1,649          1,337          614      118

    Statistical data:
    Return on average
     assets (a)                1.05%         (0.46)%       0.81%   (0.34)%
    Return on average
     attributed equity        12.65           6.00        10.66    (5.31)
    Net interest
     margin (b)                3.59           4.05         3.79     2.51
    Efficiency ratio          69.49          56.19        65.55    71.18
    ======================================================================



    ----------------------------------------------------------------------
                                                         Finance
    Three Months Ended         Other                     & Other
     June 30, 2008            Markets    International  Businesses  Total
    ----------------------------------------------------------------------
    Earnings summary:
    Net interest income
     (expense) (FTE)            $36            $14         $(36)    $443
    Provision for loan
     losses                       7              -           13      170
    Noninterest income           16              8           22      242
    Noninterest expenses         25             10           (6)     423
    Provision (benefit)
     for income taxes (FTE)      (3)             5            1       36
    Income from
     discontinued
     operations,
     net of tax                   -              -            -        -
                            ----------------------------------------------
    Net income (loss)           $23             $7         $(22)     $56
                            ==============================================
    Net credit-related
     charge-offs                 $1             $-           $-     $113

    Selected average
     balances:
    Assets                   $4,633         $2,416      $11,882  $65,963
    Loans                     4,244          2,301            7   52,367
    Deposits                  1,410            776        8,844   43,764
    Liabilities               1,501            776       25,072   60,770
    Attributed equity           389            161          925    5,193

    Statistical data:
    Return on average
     assets (a)                1.94%          1.24%       N/M       0.33%
    Return on average
     attributed equity        23.08          18.68        N/M       4.25
    Net interest
     margin (b)                3.40           2.45        N/M       2.91
    Efficiency ratio          48.87          44.63        N/M      63.02
    ======================================================================
    (a) Return on average assets is calculated based on the greater of average
        assets or average liabilities and attributed equity.
    (b) 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
    ======================================================================



    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)
    Comerica Incorporated and Subsidiaries
    -------------------------------------------------------------------------

                              June    March     December    September  June
    (dollar amounts in         30,      31,        31,         30,      30,
     millions)                2009     2009       2008        2008     2008
    -------------------------------------------------------------------------
    Tier 1 capital (a) (b)   $7,774   $7,760     $7,805      $5,576   $5,635
    Less:
      Fixed rate cumulative
       perpetual preferred
       stock                  2,140    2,134      2,129           -        -
      Trust preferred
       securities               495      495        495         495      495
    -------------------------------------------------------------------------
    Tier 1 common
     capital (b)              5,139    5,131      5,181       5,081    5,140
    Risk-weighted assets
     (a) (b)                 67,202   70,135     73,207      76,156   75,677
    Tier 1 common capital
     ratio (b)                 7.65%    7.32%      7.08%       6.67%    6.79%
    =========================================================================

    Total shareholders'
     equity                  $7,093   $7,183     $7,152      $5,100   $5,082
    Less:
      Fixed rate cumulative
       perpetual preferred
       stock                  2,140    2,134      2,129           -        -
      Goodwill                  150      150        150         150      150
      Other intangible
       assets                    10       11         12          12       12
    -------------------------------------------------------------------------
    Tangible common equity   $4,793   $4,888     $4,861      $4,938   $4,920
    =========================================================================
    Total assets            $63,630  $67,370    $67,548     $65,153  $66,003
    Less:
      Goodwill                  150      150        150         150      150
      Other intangible
       assets                    10       11         12          12       12
    -------------------------------------------------------------------------
    Tangible assets         $63,470  $67,209    $67,386     $64,991  $65,841
    =========================================================================
    Tangible common
     equity ratio              7.55%    7.27%      7.21%       7.60%    7.47%
    =========================================================================

    (a) Tier 1 capital and risk-weighted assets as defined by regulation.
    (b) June 30, 2009 Tier 1 capital and risk-weighted assets are estimated.
    =========================================================================

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.