DALLAS, July 19, 2011 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today reported second quarter 2011 net income of $96 million, a decrease of $7 million compared to $103 million for the first quarter 2011, primarily due to the impact of a federal income tax settlement. Second quarter 2011 also included $5 million of costs incurred in connection with the pending acquisition of Sterling.

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    (dollar amounts in
     millions, except per    2nd Qtr      1st Qtr     2nd Qtr
     share data)               '11              '11           '10
    ---------------------    -------     -------    -------
    Net interest income      $391         $395        $422
    Provision for loan
     losses                    47           49         126
    Noninterest income        202          207         194
    Noninterest expenses      409          415         397
    Provision for income
     taxes                     41           35          23

    Net income                 96          103          70

    Net income attributable
     to common shares          95          102          69

    Diluted income per
     common share            0.53         0.57        0.39

    Tier 1 capital ratio    10.53%   (a) 10.35%      10.64%
    Tangible common equity
     ratio (b)              10.90        10.43       10.11

    Net interest margin      3.14         3.25        3.28

    (a) June 30, 2011 ratio is estimated.
    (b) See Reconciliation of Non-GAAP Financial Measures.

"Total average loans were down one percent and period-end loans were up modestly from March 31, 2011. We were pleased to see commercial loan growth in the second quarter, driven primarily by increases in Middle Market, Global Corporate Banking and Specialty Businesses, partially offset by a decrease in floor plan loans in National Dealer Services," said Ralph W. Babb Jr., chairman and chief executive officer. "Commercial Real Estate declined, offsetting the commercial loan growth. We expect the pace of decline in Commercial Real Estate to lessen in the second half of 2011 and National Dealer Services to rebound in the fourth quarter. Our core deposits continued to increase in the second quarter, which led to higher excess liquidity and a lower net interest margin. Credit quality continued to improve and expenses were well controlled.

"We are excited about our pending acquisition of Sterling Bancshares, Inc., a strategically compelling transaction that significantly boosts our presence in the growing state of Texas. Following the expiration of the required 15-day Department of Justice waiting period associated with the Federal Reserve Board's approval order, we expect the acquisition will close on July 28, 2011. Sterling's solid deposit base and well located branch network are expected to triple our Houston market share, provide us entry into the attractive San Antonio and Kerrville regions and complement our existing footprint in the Dallas-Fort Worth area. In short, it is a unique opportunity that provides us enhanced growth opportunities going forward.

"The Sterling integration plans remain on track. We expect a smooth transition, given the size of the acquisition and our in-depth knowledge of the Texas market. We look forward to welcoming Sterling customers and employees to Comerica as we begin this new chapter in our Texas banking history."

Second Quarter 2011 Highlights Compared to First Quarter 2011

    --  Average loans increased in the Middle Market ($160 million; one
        percent), Global Corporate Banking ($136 million; 3 percent), and
        Specialty Businesses ($62 million; one percent) business lines.  These
        increases were more than offset by decreases in the Commercial Real
        Estate ($393 million; 9 percent) and National Dealer Services ($194
        million; 5 percent) business lines, resulting in a decrease in average
        total loans of $377 million, or one percent.  Period-end loans increased
        $17 million from March 31, 2011 to June 30, 2011.
    --  Average core deposits increased $881 million in the second quarter 2011,
        with increases in all major markets, led by the Texas market.
    --  The net interest margin of 3.14 percent decreased 11 basis points
        compared to the first quarter 2011, primarily resulting from an increase
        in excess liquidity (represented by average balances deposited with the
        Federal Reserve Bank), and a decrease in loan pricing based on a
        decrease in LIBOR.
    --  Average earning assets increased $789 million in the second quarter
        2011.
    --  Credit quality improvement continued in the second quarter 2011.  Net
        credit-related charge-offs decreased $11 million to $90 million. 
        Internal watch list loans declined $339 million to $4.8 billion and
        nonperforming assets decreased $60 million.
    --  Noninterest expenses decreased $6 million to $409 million in the second
        quarter 2011, compared to the first quarter 2011.  Noninterest expenses
        included $5 million of costs incurred in connection with the pending
        Sterling acquisition in the second quarter 2011, which were more than
        offset by declines in numerous noninterest expense categories.
    --  The second quarter 2011 provision for income taxes included net
        after-tax charges of $8 million, which primarily reflected a $19 million
        charge related to a final settlement agreement with the Internal Revenue
        Service (IRS) involving repatriation of foreign earnings on a structured
        investment transaction, partially offset by a release of tax reserves of
        $9 million resulting from Comerica's planned participation in a recently
        enacted State of California voluntary compliance initiative.  Comerica
        has no other investment structures with uncertain tax positions.
    --  The estimated Tier 1 capital ratio increased 18 basis points, to 10.53
        percent at June 30, 2011, from March 31, 2011.

Net Interest Income and Net Interest Margin

    (dollar amounts in millions)    2nd Qtr '11   1st Qtr '11    2nd Qtr '10
    ----------------------------    -----------   -----------    -----------
    Net interest income                $391        $395          $422

    Net interest margin                3.14%       3.25%         3.28%

    Selected average balances:
      Total earning assets          $50,136     $49,347       $51,835
      Total investment securities     7,407       7,311         7,262
      Federal Reserve Bank deposits
       (excess liquidity) (a)         3,382       2,297         3,719
      Total loans                    39,174      39,551        40,672

      Total core deposits (b)        41,067      40,186        38,928
      Total noninterest-bearing
       deposits                      15,786      15,459        15,218

    (a) See Reconciliation of Non-GAAP Financial Measures.
    (b) Core deposits exclude other time deposits and foreign office time
    deposits.

    --  The $4 million decrease in net interest income in the second quarter
        2011, when compared to the first quarter 2011, resulted primarily from a
        decline in the net interest margin, the first quarter 2011 maturities of
        interest rate swaps at positive spreads and a decrease in average loans,
        partially offset by one more day in the quarter.
    --  The net interest margin of 3.14 percent declined 11 basis points
        compared to the first quarter 2011.  The decline in the net interest
        margin primarily reflected the impact of an increase in excess liquidity
        (7 basis points), a decrease in loan pricing based on a decrease in
        LIBOR, and the first quarter 2011 maturities of interest rate swaps at
        positive spreads.
    --  Average earning assets increased $789 million, primarily due to
        increases of $1.1 billion in excess liquidity and $96 million in average
        investment securities available-for-sale, partially offset by a $377
        million decrease in average loans.
    --  Second quarter 2011 average core deposits increased $881 million
        compared to first quarter 2011, primarily reflecting increases in money
        market and NOW deposits ($410 million), noninterest-bearing deposits
        ($327 million) and customer certificates of deposit ($100 million).

Noninterest Income

Noninterest income was $202 million for the second quarter 2011, compared to $207 million for the first quarter 2011. The $5 million decrease primarily resulted from a decrease in deferred compensation asset returns ($3 million) (offset by a decrease in deferred compensation plan costs in noninterest expense).

Noninterest Expenses

Noninterest expenses totaled $409 million in the second quarter 2011, a decrease of $6 million from the first quarter 2011. The decrease in noninterest expenses was primarily due to decreases in salaries expense ($3 million), FDIC insurance expense ($3 million), software expense ($3 million) and other real estate expense ($2 million), partially offset by certain pre-integration and transaction costs incurred in connection with the pending Sterling acquisition ($5 million).

Provision for Income Taxes

The second quarter 2011 provision for income taxes included net after-tax charges of $8 million, which primarily reflected a $19 million charge related to a final settlement agreement with the IRS involving repatriation of foreign earnings on a structured investment transaction, partially offset by a release of tax reserves of $9 million resulting from Comerica's planned participation in a recently enacted State of California voluntary compliance initiative.

Credit Quality

"Broad-based, steady improvement in credit quality continued in the second quarter," said Babb. "This was the eighth consecutive quarter of decline in net charge offs, with an $11 million decrease. We had strong recoveries of $35 million in the second quarter, up from $22 million in the first quarter. Credit quality migration remains positive, as demonstrated by the $339 million decline in watch list loans, which provide our best early indicator of future credit quality, as well as the $60 million decline in nonperforming assets. As a result of these overall improvements to our credit metrics, the provision for loan losses decreased to $47 million. Also, of note, the results of the recently received Shared National Credit Exam are reflected in our second quarter credit metrics."

    --  Net credit-related charge-offs decreased $11 million to $90 million in
        the second quarter 2011, from $101 million in the first quarter 2011.
        The decrease in net credit-related charge-offs primarily reflected a
        decrease of $22 million in the Middle Market business line, partially
        offset by an increase of $9 million in the Private Banking business
        line.
    --  Internal watch list loans declined $339 million to $4.8 billion from
        March 31, 2011 to June 30, 2011.
    --  During the second quarter 2011, $163 million of loan relationships
        greater than $2 million were transferred to nonaccrual status, a
        decrease of $3 million from the first quarter 2011.  Of the transfers of
        loan relationships greater than $2 million to nonaccrual in the second
        quarter 2011, $76 million were from the Middle Market business line,
        primarily in the Midwest and Western markets, and $29 million were from
        the Commercial Real Estate business line, distributed across the
        Florida, Western and Other markets.
    --  Nonperforming assets decreased $60 million, compared to March 31, 2011,
        to $1.0 billion, or 2.66 percent of total loans and foreclosed property,
        at June 30, 2011.
    --  The allowance for loan losses to total loans ratio was 2.06 percent and
        2.17 percent at June 30, 2011 and March 31, 2011, respectively.

                                            2nd Qtr     1st Qtr       2nd Qtr
    (dollar amounts in millions)              '11         '11           '10
    ----------------------------            -------  -------    -------
    Net credit-related charge-offs          $90      $101        $146
    Net credit-related charge-offs/
     Average total loans                   0.92%     1.03%       1.44%

    Provision for loan losses               $47       $49        $126
    Provision for credit losses on
     lending-related
      commitments                            (2)       (3)          -
                                            ---       ---         ---
        Total provision for credit losses    45        46         126

    Nonperforming loans                     974     1,030       1,121
    Nonperforming assets (NPAs)           1,044     1,104       1,214
    NPAs/Total loans and foreclosed
     property                              2.66%     2.81%       2.98%

    Loans past due 90 days or more and
     still accruing                         $64       $72        $115

    Allowance for loan losses               806       849         967
    Allowance for credit losses on
      lending-related commitments (a)        30        32          44
                                            ---       ---         ---
        Total allowance for credit losses   836       881       1,011

    Allowance for loan losses/Total
     loans                                 2.06%     2.17%       2.38%
    Allowance for loan losses/
     Nonperforming loans                     83        82          86

    (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 $54.1 billion and $6.0 billion, respectively, at June 30, 2011, compared to $55.0 billion and $5.9 billion, respectively, at March 31, 2011. There were approximately 177 million common shares outstanding at June 30, 2011. Comerica did not repurchase any shares of common stock in the open market in the second quarter 2011 under the share repurchase program due to the pending Sterling acquisition. Management expects to resume repurchases in the third quarter 2011.

Comerica's tangible common equity ratio was 10.90 percent at June 30, 2011, an increase of 47 basis points from March 31, 2011. The estimated Tier 1 capital ratio increased 18 basis points, to 10.53 percent at June 30, 2011, from March 31, 2011.

Second-Half 2011 Outlook (Combined Comerica and Sterling Results) Compared to First-Half 2011 (Comerica Only Results)

For the second half of 2011, management expects the following combined results, based on the incorporation of the projected results of Sterling operations from the expected acquisition closing date of July 28, 2011 through year-end 2011, compared to Comerica-only results for the first half of 2011, assuming a continuation of modest growth in the economy. The acquisition is subject to customary closing conditions. The estimated purchase accounting impacts incorporated in this outlook are preliminary and may not be indicative of actual amounts that will be recorded as additional information becomes available and as additional analyses are performed.

    --  A mid-single digit increase in average loans due to the acquisition of
        Sterling loans at fair value.
    --  Average earning assets of approximately $52.5 billion, reflecting
        increases, primarily related to Sterling, in average loans and average
        investment securities available-for-sale, partially offset by a decrease
        in excess liquidity.
    --  An average net interest margin of 3.35 percent to 3.40 percent,
        reflecting the benefit from the accretion of the purchase discount on
        the acquired Sterling loan portfolio ($35 million to $45 million; 13
        basis points to 17 basis points), a reduction in excess liquidity, no
        increase in the Federal Funds rate, and LIBOR consistent with second
        quarter 2011 levels.
    --  Net credit-related charge-offs between $165 million and $185 million for
        the second half of 2011. The provision for credit losses is expected to
        be between $65 million and $85 million for the second half of 2011.
    --  A mid-single digit decline in noninterest income in the second half of
        2011 compared to the first half of 2011, primarily due to the impact of
        regulatory changes, partially offset by the inclusion of Sterling.
    --  Excluding merger and restructuring charges, a high single-digit increase
        in noninterest expenses in the second half of 2011 compared to the first
        half of 2011, primarily due to the addition of Sterling.
    --  Total merger and restructuring charges of approximately $80 million,
        after-tax, with about $25 million, after-tax, recognized in each of the
        third and fourth quarters of 2011, and the remainder recognized in 2012.
    --  Total acquisition synergies of approximately 35 percent of Sterling
        expenses, or about $56 million, with the majority realized in 2012.
    --  For the second half of 2011, income tax expense to approximate 36
        percent of income before income taxes less approximately $33 million in
        tax benefits.
    --  Continue share repurchase program that, combined with dividend payments,
        results in a payout up to 50 percent of full-year earnings.

Business Segments

Comerica's operations are strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth Management. The Finance Division is also 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, 2011 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses second quarter 2011 results compared to first quarter 2011.

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

    (dollar amounts in
     millions)                  2nd Qtr '11
    ------------------          -----------
    Business Bank           $176        95%
    Retail Bank               (3)       (2)
    Wealth Management         12         7
    -----------------        ---       ---
                             185       100%
    Finance                  (87)
    Other (a)                 (2)
    ---------                ---
         Total               $96
         -----               ---

    (dollar amounts in
     millions)                  1st Qtr '11
    ------------------          -----------
    Business Bank           $167        93%
    Retail Bank               (2)       (1)
    Wealth Management         14         8
    -----------------        ---       ---
                             179       100%
    Finance                  (76)
    Other (a)                  -
    ---------                ---
         Total              $103
         -----              ----

    (dollar amounts in
     millions)                2nd Qtr '10
    ------------------        -----------
    Business Bank           $135    98%
    Retail Bank               (3)   (2)
    Wealth Management          5     4
    -----------------        ---   ---
                             137   100%
    Finance                  (57)
    Other (a)                (10)
    ---------                ---
         Total               $70
         -----               ---

    (a) Includes discontinued operations and items not directly
    associated with the three major business segments or the Finance
    Division.

Business Bank

    (dollar amounts in     2nd Qtr         1st Qtr         2nd Qtr
     millions)                '11             '11             '10
    ------------------      -------         -------         -------
    Net interest income
     (FTE)                     $342            $341            $351
    Provision for loan
     losses                       6              18              83
    Noninterest income           79              77              78
    Noninterest expenses        158             160             157
    Net income                  176             167             135

    Net credit-related
     charge-offs                 54              73             113

    Selected average
     balances:
    Assets                   29,893          30,091          30,609
    Loans                    29,380          29,609          30,353
    Deposits                 20,396          20,084          19,069

    Net interest margin        4.65%           4.66%           4.63%
    -------------------        ----            ----            ----

    --  Average loans decreased $229 million, reflecting increases in Middle
        Market, Global Corporate Banking and Specialty Businesses, more than
        offset by decreases in Commercial Real Estate and National Dealer
        Services.
    --  Average deposits increased $312 million, primarily due to increases in
        Specialty Businesses and Global Corporate Banking, partially offset by a
        decrease in Middle Market.
    --  The net interest margin of 4.65 percent decreased one basis point,
        primarily due to a decrease in deposit spreads.
    --  The provision for loan losses decreased $12 million, primarily
        reflecting decreases in Middle Market and Commercial Real Estate,
        partially offset by increases in Global Corporate Banking and Specialty
        Businesses.

Retail Bank

    (dollar amounts in      2nd Qtr         1st Qtr         2nd Qtr
     millions)                 '11             '11             '10
    ------------------       -------         -------         -------
    Net interest income
     (FTE)                      $141            $139            $134
    Provision for loan
     losses                       24              23              20
    Noninterest income            46              42              42
    Noninterest expenses         162             162             160
    Net loss                      (3)             (2)             (3)

    Net credit-related
     charge-offs                  22              23              22

    Selected average
     balances:
    Assets                     5,453           5,558           5,937
    Loans                      4,999           5,106           5,446
    Deposits                  17,737          17,360          16,930

    Net interest margin         3.22%           3.25%           3.17%
    -------------------         ----            ----            ----

    --  Average loans decreased $107 million, reflecting declines across all
        markets and business lines.
    --  Average deposits increased $377 million, primarily due to increases in
        transaction and money market deposits, partially offset by a decrease in
        customer certificates of deposit.
    --  The net interest margin of 3.22 percent decreased three basis points,
        primarily due to a decrease in deposit spreads.
    --  Noninterest income increased $4 million, reflecting nominal increases in
        numerous categories.

Wealth Management

    (dollar amounts in     2nd Qtr         1st Qtr         2nd Qtr
     millions)                '11             '11             '10
    ------------------      -------         -------         -------
    Net interest income
     (FTE)                      $48             $44             $45
    Provision for loan
     losses                      14               8              19
    Noninterest income           63              64              61
    Noninterest expenses         76              78              79
    Net income                   12              14               5

    Net credit-related
     charge-offs                 14               5              11

    Selected average
     balances:
    Assets                    4,728           4,809           4,903
    Loans                     4,742           4,807           4,840
    Deposits                  2,978           2,800           2,924

    Net interest margin        4.07%           3.76%           3.73%
    -------------------        ----            ----            ----

    --  Average loans decreased $65 million.
    --  Average deposits increased $178 million, primarily reflecting increases
        in noninterest-bearing transaction accounts.
    --  The net interest margin of 4.07 percent increased 31 basis points,
        primarily due to increases in loan spreads and deposit balances.
    --  The provision for loan losses increased $6 million, due to an increase
        in Private Banking in the Western Market.

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, 2011 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses second quarter 2011 results compared to first quarter 2011.

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

    (dollar amounts in
     millions)                       2nd Qtr '11
    ------------------               -----------
    Midwest                       $62        34%
    Western                        50        27
    Texas                          33        18
    Florida                        (5)       (3)
    Other Markets                  30        16
    International                  15         8
    -------------                 ---       ---
                                  185       100%
    Finance & Other Businesses
     (a)                          (89)
    --------------------------    ---
         Total                    $96
         -----                    ---

    (dollar amounts in
     millions)                       1st Qtr '11
    ------------------               -----------
    Midwest                       $53        30%
    Western                        51        28
    Texas                          29        16
    Florida                        (4)       (2)
    Other Markets                  38        21
    International                  12         7
    -------------                 ---       ---
                                  179       100%
    Finance & Other Businesses
     (a)                          (76)
    --------------------------    ---
         Total                   $103
         -----                   ----

    (dollar amounts in
     millions)                     2nd Qtr '10
    ------------------             -----------
    Midwest                       $61    44%
    Western                        38    28
    Texas                          26    19
    Florida                        (8)   (6)
    Other Markets                   4     3
    International                  16    12
    -------------                 ---   ---
                                  137   100%
    Finance & Other Businesses
     (a)                          (67)
    --------------------------    ---
         Total                    $70
         -----                    ---

    (a) Includes discontinued operations and items not directly
    associated with the geographic markets.

Midwest Market

    (dollar amounts in      2nd Qtr         1st Qtr         2nd Qtr
     millions)                 '11             '11             '10
    ------------------       -------         -------         -------
    Net interest income
     (FTE)                      $204            $203            $211
    Provision for loan
     losses                       15              34              34
    Noninterest income           100             100              97
    Noninterest expenses         183             188             180
    Net income                    62              53              61

    Net credit-related
     charge-offs                  37              46              44

    Selected average
     balances:
    Assets                    14,267          14,307          14,626
    Loans                     14,051          14,104          14,592
    Deposits                  18,319          18,230          17,988

    Net interest margin         4.46%           4.49%           4.66%
    -------------------         ----            ----            ----

    --  Average loans decreased $53 million, with increases in Middle Market and
        Global Corporate Banking more than offset by declines in most other
        business lines.
    --  Average deposits increased $89 million, primarily due to increases in
        Personal Banking, Small Business Banking, Commercial Real Estate and
        Middle Market, partially offset by decreases in Global Corporate Banking
        and Specialty Businesses.
    --  The net interest margin of 4.46 percent decreased three basis points,
        primarily due to decreases in deposit spreads and loan balances,
        partially offset by an increase in loan spreads.
    --  The provision for loan losses decreased $19 million, primarily
        reflecting decreases in Middle Market and Commercial Real Estate,
        partially offset by an increase in Global Corporate Banking.
    --  Noninterest expenses decreased $5 million, primarily due to decreases in
        other real estate expenses, net allocated corporate overhead expenses
        and FDIC insurance expense, partially offset by an increase in the
        provision for credit losses on lending-related commitments.

Western Market

    (dollar amounts in     2nd Qtr         1st Qtr         2nd Qtr
     millions)                '11             '11             '10
    ------------------      -------         -------         -------
    Net interest income
     (FTE)                     $166            $164            $163
    Provision for loan
     losses                      20              11              27
    Noninterest income           37              37              33
    Noninterest expenses        108             109             110
    Net income                   50              51              38

    Net credit-related
     charge-offs                 26              26              47

    Selected average
     balances:
    Assets                   12,329          12,590          13,006
    Loans                    12,121          12,383          12,792
    Deposits                 12,458          12,235          11,951

    Net interest margin        5.35%           5.37%           5.13%
    -------------------        ----            ----            ----

    --  Average loans decreased $262 million, primarily due to decreases in
        National Dealer Services, Commercial Real Estate and Private Banking,
        partially offset by increases in Middle Market and Global Corporate
        Banking.
    --  Average deposits increased $223 million, primarily due to increases in
        Specialty Businesses and Private Banking, partially offset by a decrease
        in Middle Market.
    --  The net interest margin of 5.35 percent decreased two basis points,
        primarily due to a decrease in loan balances.
    --  The provision for loan losses increased $9 million, primarily due to
        increases in Private Banking and Specialty Businesses.

Texas Market

    (dollar amounts in          2nd Qtr         1st Qtr         2nd Qtr
     millions)                     '11             '11             '10
    ------------------           -------         -------         -------
    Net interest income (FTE)        $89             $87             $81
    Provision for loan losses         (2)              4              (1)
    Noninterest income                25              23              23
    Noninterest expenses              63              61              65
    Net income                        33              29              26

    Total net credit-related
     charge-offs                       3               8               8

    Selected average
     balances:
    Assets                         7,081           7,031           6,652
    Loans                          6,871           6,824           6,428
    Deposits                       6,175           5,786           5,316

    Net interest margin             5.19%           5.17%           5.05%
    -------------------             ----            ----            ----

    --  Average loans increased $47 million, primarily due to increases in
        Middle Market and Global Corporate Banking, partially offset by a
        decrease in Commercial Real Estate.
    --  Average deposits increased $389 million, reflecting increases across
        most business lines.
    --  The net interest margin of 5.19 percent increased two basis points,
        primarily due to increases in loan spreads and deposit balances,
        partially offset by a decrease in deposit spreads.
    --  The provision for loan losses decreased $6 million, with decreases
        across most business lines.

Florida Market

    (dollar amounts in     2nd Qtr         1st Qtr         2nd Qtr
     millions)                '11             '11             '10
    ------------------      -------         -------         -------
    Net interest income
     (FTE)                      $12             $11             $12
    Provision for loan
     losses                      11               8              17
    Noninterest income            4               4               4
    Noninterest expenses         12              12              12
    Net loss                     (5)             (4)             (8)

    Net credit-related
     charge-offs                 15               8               7

    Selected average
     balances:
    Assets                    1,534           1,553           1,576
    Loans                     1,565           1,580           1,575
    Deposits                    396             367             404

    Net interest margin        3.14%           2.82%           2.94%
    -------------------        ----            ----            ----

    --  Average loans decreased $15 million, primarily due to decreases in
        Commercial Real Estate and National Dealer Services, partially offset by
        increases in Global Corporate Banking and Private Banking.
    --  Average deposits increased $29 million, primarily due to an increase in
        Private Banking.
    --  The net interest margin of 3.14 percent increased 32 basis points,
        primarily due to increases in loan spreads and deposit balances.
    --  The provision for loan losses increased $3 million, primarily due to
        increases in Middle Market, Commercial Real Estate and Private Banking.

Conference Call and Webcast

Comerica will host a conference call to review second quarter 2011 financial results at 7 a.m. CT Tuesday, July 19, 2011. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 77355589). The call and supplemental financial information can also be accessed on the Internet at www.comerica.com. A telephone replay will be available approximately two hours following the conference call through July 31, 2011. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 77355589). 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 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 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," "opportunity," "initiative," "outcome," "continue," "remain," "maintain," "trend," "objective," "pending," "looks forward" 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 changes in general economic, political or industry conditions and related credit and market conditions; changes in trade, monetary and fiscal policies, including the interest rate policies of the Federal Reserve Board; adverse conditions in the capital markets; the interdependence of financial service companies; changes in regulation or oversight, including the effects of recently enacted legislation, actions taken by or proposed by the U.S. Treasury, the Board of Governors of the Federal Reserve System, the Texas Department of Banking and the Federal Deposit Insurance Corporation, legislation or regulations enacted in the future, and the impact and expiration of such legislation and regulatory actions; unfavorable developments concerning credit quality; the proposed acquisition of Sterling Bancshares, Inc. ("Sterling"), or any future acquisitions; the effects of more stringent capital or liquidity requirements; 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 implementation of Comerica's strategies and business models, including the anticipated performance of any new banking centers; Comerica's ability to utilize technology to efficiently and effectively develop, market and deliver new products and services; operational difficulties or information security problems; changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing; the entry of new competitors in Comerica's markets; changes in customer borrowing, repayment, investment and deposit practices; management's ability to maintain and expand customer relationships; management's ability to retain key officers and employees; the impact of legal and regulatory proceedings; the effectiveness of methods of reducing risk exposures; the effects of war and other armed conflicts or acts of terrorism and the effects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods. 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 ("SEC"). In particular, please refer to "Item 1A. Risk Factors" beginning on page 16 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2010. 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.

Additional Information for Shareholders

In connection with the proposed merger transaction, Comerica has filed with the SEC a Registration Statement on Form S-4 that includes a Proxy Statement of Sterling and a Prospectus of Comerica, and Sterling mailed the definitive Proxy Statement/Prospectus to its shareholders on or about April 6, 2011. Each of Comerica and Sterling may file other relevant documents concerning the proposed transaction. SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS REGARDING THE MERGER AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION.

A free copy of the definitive Proxy Statement/Prospectus, as well as other filings containing information about Comerica and Sterling, may be obtained at the SEC's Internet site (http://www.sec.gov). You may be able to obtain these documents, free of charge, from Comerica at www.comerica.com under the tab "Investor Relations" and then under the heading "SEC Filings" or from Sterling by accessing Sterling's website at www.banksterling.com under the tab "Investor Relations" and then under the heading "SEC Filings."

    CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)
    Comerica Incorporated and Subsidiaries

                                            Three Months Ended
                                            ------------------
                                     June 30,       March 31,       June 30,
    (in millions, except per
     share data)                           2011         2011          2010
    ------------------------               ----         ----          ----
    PER COMMON SHARE AND
     COMMON STOCK DATA
    Diluted net income (loss)        $0.53        $0.57         $0.39
    Cash dividends declared           0.10         0.10          0.05
    Common shareholders'
     equity (at period end)          34.15        33.25         32.85

    Average diluted shares
     (in thousands)                177,602      178,425       178,432
    ----------------------         -------      -------       -------
    KEY RATIOS
    Return on average common
     shareholders' equity             6.41%        7.08%         4.89%
    Return on average assets          0.70         0.77          0.50
    Tier 1 common capital
     ratio (a) (b)                   10.53        10.35          9.81
    Tier 1 risk-based
     capital ratio (b)               10.53        10.35         10.64
    Total risk-based capital
     ratio (b)                       14.81        14.80         15.03
    Leverage ratio (b)               11.39        11.37         11.36
    Tangible common equity
     ratio (a)                       10.90        10.43         10.11
    ----------------------           -----        -----         -----
    AVERAGE BALANCES
    Commercial loans               $21,677      $21,496       $20,910
    Real estate construction
     loans:
          Commercial Real Estate
           business line (c)         1,486        1,754         2,537
          Other business lines (d)     395          425           450
    Commercial mortgage
     loans:
         Commercial Real Estate
          business line (c)          1,912        1,978         1,947
         Other business lines (d)    7,724        7,812         8,425
    Residential mortgage
     loans                           1,525        1,599         1,607
    Consumer loans                   2,243        2,281         2,448
    Lease financing                    958          987         1,108
    International loans              1,254        1,219         1,240

    Total loans                     39,174       39,551        40,672

    Earning assets                  50,136       49,347        51,835
    Total assets                    54,517       53,775        56,258
    Noninterest-bearing
     deposits                       15,786       15,459        15,218
    Interest-bearing core
     deposits                       25,281       24,727        23,710
    Total core deposits             41,067       40,186        38,928
    Common shareholders'
     equity                          5,972        5,835         5,708
    Total shareholders'
     equity                          5,972        5,835         5,708
    -------------------              -----        -----         -----
    NET INTEREST INCOME
    Net interest income
     (fully taxable
     equivalent basis)                $392         $396          $424
    Fully taxable equivalent
     adjustment                          1            1             2
    Net interest margin
     (fully taxable
     equivalent basis)                3.14%        3.25%         3.28%
    -------------------               ----         ----          ----
    CREDIT QUALITY
    Nonaccrual loans                  $941         $996        $1,098
    Reduced-rate loans                  33           34            23
                                       ---          ---           ---
    Total nonperforming loans          974        1,030         1,121
    Foreclosed property                 70           74            93
                                       ---          ---           ---
    Total nonperforming
     assets                          1,044        1,104         1,214

    Loans past due 90 days or
     more and still accruing            64           72           115

    Gross loan charge-offs             125          123           158
    Loan recoveries                     35           22            12
                                       ---          ---           ---
    Net loan charge-offs                90          101           146
    Lending-related
     commitment charge-offs              -            -             -
                                       ---          ---           ---
    Total net credit-related
     charge-offs                        90          101           146

    Allowance for loan losses          806          849           967
    Allowance for credit
     losses on lending-
     related commitments                30           32            44
                                       ---          ---           ---
    Total allowance for
     credit losses                     836          881         1,011

    Allowance for loan losses
     as a percentage of total
     loans                            2.06%        2.17%         2.38%
    Net loan charge-offs as
     a percentage of average
     total loans                      0.92         1.03          1.44
    Net credit-related
     charge-offs as a
     percentage of average
     total loans                      0.92         1.03          1.44
    Nonperforming assets as a
     percentage of total
     loans and foreclosed
     property                         2.66         2.81          2.98
    Allowance for loan losses
     as a percentage of total
     nonperforming loans                83           82            86
    -------------------------          ---          ---           ---

                                                  Six Months Ended
                                                  ----------------
                                                      June 30,
    (in millions, except per share
     data)                                      2011              2010
    ------------------------------              ----              ----
    PER COMMON SHARE AND COMMON STOCK
     DATA
    Diluted net income (loss)                  $1.10            $(0.01)
    Cash dividends declared                     0.20              0.10
    Common shareholders' equity (at
     period end)

    Average diluted shares (in
     thousands)                              178,011           165,100
    --------------------------               -------           -------
    KEY RATIOS
    Return on average common
     shareholders' equity                       6.74%           (0.05)%
    Return on average assets                    0.73              0.43
    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                         $21,586           $20,961
    Real estate construction loans:
          Commercial Real Estate business
           line (c)                            1,619             2,726
          Other business lines (d)               410               459
    Commercial mortgage loans:
         Commercial Real Estate business
          line (c)                             1,945             1,896
         Other business lines (d)              7,768             8,484
    Residential mortgage loans                 1,562             1,620
    Consumer loans                             2,262             2,464
    Lease financing                              972             1,119
    International loans                        1,237             1,261
                                               -----             -----
    Total loans                               39,361            40,990

    Earning assets                            49,743            52,385
    Total assets                              54,148            56,885
    Noninterest-bearing deposits              15,623            14,923
    Interest-bearing core deposits            25,005            23,165
    Total core deposits                       40,628            38,088
    Common shareholders' equity                5,904             5,391
    Total shareholders' equity                 5,904             6,283
    --------------------------                 -----             -----
    NET INTEREST INCOME
    Net interest income (fully taxable
     equivalent basis)                          $788              $840
    Fully taxable equivalent adjustment            2                 3
    Net interest margin (fully taxable
     equivalent basis)                          3.19%             3.23%
    ----------------------------------          ----              ----
    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                      $248              $342
    Loan recoveries                               57                23
                                                 ---               ---
    Net loan charge-offs                         191               319
    Lending-related commitment charge-
     offs                                          -                 -
                                                 ---               ---
    Total net credit-related charge-
     offs                                        191               319

    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          0.97%             1.56%
    Net credit-related charge-offs as
     a percentage of average total
     loans                                      0.97              1.56
    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, 2011 ratios are estimated.
    (c) Primarily loans to real estate investors and developers.
    (d) Primarily loans secured by owner-occupied real estate.

    CONSOLIDATED BALANCE SHEETS
     Comerica Incorporated and Subsidiaries

                                                     June 30,     March 31,
    (in millions, except share data)                       2011          2011
    --------------------------------                       ----          ----
                                                    (unaudited)   (unaudited)
    ASSETS
    Cash and due from banks                                $987          $875

    Interest-bearing deposits with
     banks                                                2,479         3,570
    Other short-term investments                            124           154

    Investment securities available-
     for-sale                                           7,537         7,406

    Commercial loans                                   22,052        21,360
    Real estate construction loans                      1,728         2,023
    Commercial mortgage loans                           9,579         9,697
    Residential mortgage loans                          1,491         1,550
    Consumer loans                                      2,232         2,262
    Lease financing                                       949           958
    International loans                                 1,162         1,326
    -------------------                                 -----         -----
                Total loans                            39,193        39,176
    Less allowance for loan losses                       (806)         (849)
    ------------------------------                       ----          ----
                Net loans                              38,387        38,327

    Premises and equipment                                641           637
    Customers' liability on acceptances
     outstanding                                           10            14
    Accrued income and other assets                     3,976         4,034
    -------------------------------                     -----         -----
                Total assets                          $54,141       $55,017
                ------------                          -------       -------

    LIABILITIES AND SHAREHOLDERS'
     EQUITY
    Noninterest-bearing deposits                      $16,344       $16,357

    Money market and NOW deposits                      18,033        17,888
    Savings deposits                                    1,462         1,457
    Customer certificates of deposit                    5,551         5,672
    Other time deposits                                     -             -
    Foreign office time deposits                          368           499
    ----------------------------                          ---           ---
                Total interest-bearing deposits        25,414        25,516
                -------------------------------        ------        ------
                Total deposits                         41,758        41,873

    Short-term borrowings                                  67            61
    Acceptances outstanding                                10            14
    Accrued expenses and other
     liabilities                                        1,062         1,076
    Medium- and long-term debt                          5,206         6,116
    --------------------------                          -----         -----
                Total liabilities                      48,103        49,140

    Common stock - $5 par value:
         Authorized -325,000,000 shares
         Issued - 203,878,110 shares                    1,019         1,019
    Capital surplus                                     1,472         1,464
    Accumulated other comprehensive
     loss                                                (308)         (382)
    Retained earnings                                   5,395         5,317
    Less cost of common stock in
     treasury -27,092,427 shares at
     6/30/11, 27,103,941 shares
          at 3/31/11, 27,342,518 shares at
           12/31/10, and 27,561,412 shares at
           6/30/10                                     (1,540)       (1,541)
          -----------------------------------          ------        ------
                Total shareholders' equity              6,038         5,877
                --------------------------              -----         -----
                 Total liabilities and
                 shareholders' equity                 $54,141       $55,017
                ----------------------                -------       -------

                                                December 31,   June 30,
    (in millions, except share data)                     2010        2010
    --------------------------------                     ----        ----
                                                              (unaudited)
    ASSETS
    Cash and due from banks                              $668        $816

    Interest-bearing deposits with
     banks                                              1,415       3,409
    Other short-term investments                          141         134

    Investment securities available-
     for-sale                                         7,560       7,188

    Commercial loans                                 22,145      21,151
    Real estate construction loans                    2,253       2,774
    Commercial mortgage loans                         9,767      10,318
    Residential mortgage loans                        1,619       1,606
    Consumer loans                                    2,311       2,443
    Lease financing                                   1,009       1,084
    International loans                               1,132       1,226
    -------------------                               -----       -----
                Total loans                          40,236      40,602
    Less allowance for loan losses                     (901)       (967)
    ------------------------------                     ----        ----
                Net loans                            39,335      39,635

    Premises and equipment                              630         634
    Customers' liability on
     acceptances outstanding                              9          24
    Accrued income and other assets                   3,909       4,045
    -------------------------------                   -----       -----
                Total assets                        $53,667     $55,885
                ------------                        -------     -------

    LIABILITIES AND SHAREHOLDERS'
     EQUITY
    Noninterest-bearing deposits                    $15,538     $15,769

    Money market and NOW deposits                    17,622      16,062
    Savings deposits                                  1,397       1,407
    Customer certificates of deposit                  5,482       5,893
    Other time deposits                                   -         165
    Foreign office time deposits                        432         484
    ----------------------------                        ---         ---
                Total interest-bearing deposits      24,933      24,011
                -------------------------------      ------      ------
                Total deposits                       40,471      39,780

    Short-term borrowings                               130         200
    Acceptances outstanding                               9          24
    Accrued expenses and other
     liabilities                                      1,126       1,048
    Medium- and long-term debt                        6,138       9,041
    --------------------------                        -----       -----
                Total liabilities                    47,874      50,093

    Common stock - $5 par value:
         Authorized -325,000,000 shares
         Issued - 203,878,110 shares                  1,019       1,019
    Capital surplus                                   1,481       1,467
    Accumulated other comprehensive
     loss                                              (389)       (240)
    Retained earnings                                 5,247       5,124
    Less cost of common stock in
     treasury -27,092,427 shares at
     6/30/11, 27,103,941 shares
          at 3/31/11, 27,342,518 shares at
           12/31/10, and 27,561,412 shares
           at 6/30/10                                (1,565)     (1,578)
          --------------------------------           ------      ------
                Total shareholders' equity            5,793       5,792
                --------------------------            -----       -----
                 Total liabilities and
                 shareholders' equity               $53,667     $55,885
                ----------------------              -------     -------

    CONSOLIDATED STATEMENTS OF INCOME (unaudited)
    Comerica Incorporated and Subsidiaries

                                                     Three Months
                                                                   Ended
                                                      June 30,
                                                      --------
    (in millions, except per share data)            2011    2010
    ------------------------------------            ----    ----

    INTEREST INCOME
    Interest and fees on loans                      $369    $412
    Interest on investment securities                 59      61
    Interest on short-term investments                 3       3
    ----------------------------------             ---     ---
            Total interest income                  431     476

    INTEREST EXPENSE
    Interest on deposits                            23      29
    Interest on medium- and long-term debt          17      25
    --------------------------------------         ---     ---
            Total interest expense                  40      54
            ----------------------                 ---     ---
            Net interest income                    391     422
    Provision for loan losses                       47     126
    -------------------------                      ---     ---
             Net interest income after
             provision for loan losses             344     296

    NONINTEREST INCOME
    Service charges on deposit accounts             51      52
    Fiduciary income                                39      38
    Commercial lending fees                         21      22
    Letter of credit fees                           18      19
    Card fees                                       15      15
    Foreign exchange income                         10      10
    Bank-owned life insurance                        9       9
    Brokerage fees                                   6       6
    Net securities gains                             4       1
    Other noninterest income                        29      22
    ------------------------                       ---     ---
            Total noninterest income               202     194

    NONINTEREST EXPENSES
    Salaries                                       185     179
    Employee benefits                               50      45
    -----------------                              ---     ---
         Total salaries and employee benefits      235     224
    Net occupancy expense                           38      39
    Equipment expense                               17      15
    Outside processing fee expense                  25      23
    Software expense                                20      22
    FDIC insurance expense                          12      16
    Legal fees                                       8       9
    Advertising expense                              7       7
    Other real estate expense                        6       5
    Litigation and operational losses                5       2
    Merger and restructuring charges                 5       -
    Provision for credit losses on lending-
     related commitments                            (2)      -
    Other noninterest expenses                      33      35
    --------------------------                     ---     ---
            Total noninterest expenses             409     397
            --------------------------             ---     ---
    Income from continuing operations before
     income taxes                                  137      93
    Provision for income taxes                      41      23
    --------------------------                     ---     ---
    Income from continuing operations               96      70
    Income from discontinued operations, net
     of tax                                          -       -
    ----------------------------------------       ---     ---
    NET INCOME                                      96      70
    Less:
        Preferred stock dividends                    -       -
        Income allocated to participating
         securities                                  1       1
    Net income (loss) attributable to common
     shares                                        $95     $69
    ----------------------------------------       ---     ---

    Basic earnings per common share:
          Income (loss) from continuing operations   $0.54   $0.40
          Net income (loss)                       0.54    0.40

    Diluted earnings per common share:
         Income (loss) from continuing operations    0.53    0.39
         Net income (loss)                        0.53    0.39

    Cash dividends declared on common stock         18       8
    Cash dividends declared per common share      0.10    0.05
    ----------------------------------------      ----    ----

                                                      Six Months
                                                                     Ended
                                                       June 30,
                                                       --------
    (in millions, except per share data)            2011     2010
    ------------------------------------            ----     ----

    INTEREST INCOME
    Interest and fees on loans                      $744     $824
    Interest on investment securities                116      122
    Interest on short-term investments                 5        6
    ----------------------------------             ---      ---
            Total interest income                  865      952

    INTEREST EXPENSE
    Interest on deposits                            45       64
    Interest on medium- and long-term debt          34       51
    --------------------------------------         ---      ---
            Total interest expense                  79      115
            ----------------------                 ---      ---
            Net interest income                    786      837
    Provision for loan losses                       96      301
    -------------------------                      ---      ---
             Net interest income after
             provision for loan losses             690      536

    NONINTEREST INCOME
    Service charges on deposit accounts            103      108
    Fiduciary income                                78       77
    Commercial lending fees                         42       44
    Letter of credit fees                           36       37
    Card fees                                       30       28
    Foreign exchange income                         19       20
    Bank-owned life insurance                       17       17
    Brokerage fees                                  12       12
    Net securities gains                             6        3
    Other noninterest income                        66       42
    ------------------------                       ---      ---
            Total noninterest income               409      388

    NONINTEREST EXPENSES
    Salaries                                       373      348
    Employee benefits                              100       89
    -----------------                              ---      ---
         Total salaries and employee benefits      473      437
    Net occupancy expense                           78       80
    Equipment expense                               32       32
    Outside processing fee expense                  49       46
    Software expense                                43       44
    FDIC insurance expense                          27       33
    Legal fees                                      17       17
    Advertising expense                             14       15
    Other real estate expense                       14       17
    Litigation and operational losses                8        3
    Merger and restructuring charges                 5        -
    Provision for credit losses on lending-
     related commitments                            (5)       7
    Other noninterest expenses                      69       70
    --------------------------                     ---      ---
            Total noninterest expenses             824      801
            --------------------------             ---      ---
    Income from continuing operations before
     income taxes                                  275      123
    Provision for income taxes                      76       18
    --------------------------                     ---      ---
    Income from continuing operations              199      105
    Income from discontinued operations, net
     of tax                                          -       17
    ----------------------------------------       ---      ---
    NET INCOME                                     199      122
    Less:
        Preferred stock dividends                    -      123
        Income allocated to participating
         securities                                  2        -
    Net income (loss) attributable to common
     shares                                       $197      $(1)
    ----------------------------------------      ----      ---

    Basic earnings per common share:
          Income (loss) from continuing operations   $1.12   $(0.11)
          Net income (loss)                       1.12    (0.01)

    Diluted earnings per common share:
         Income (loss) from continuing operations    1.10    (0.11)
         Net income (loss)                        1.10    (0.01)

    Cash dividends declared on common stock         35       18
    Cash dividends declared per common share      0.20     0.10
    ----------------------------------------      ----     ----

    CONSOLIDATED QUARTERLY STATEMENTS OF INCOME (unaudited)
    Comerica Incorporated and Subsidiaries

                                            Second    First   Fourth
                                            Quarter  Quarter  Quarter
    (in millions, except per share
     data)                                     2011     2011     2010
    ------------------------------             ----     ----     ----

    INTEREST INCOME
    Interest and fees on loans                 $369     $375     $394
    Interest on investment securities            59       57       49
    Interest on short-term investments            3        2        2
    ----------------------------------          ---      ---      ---
              Total interest income           431      434      445

    INTEREST EXPENSE
    Interest on deposits                       23       22       24
    Interest on short-term borrowings           -        -        1
    Interest on medium- and long-
     term debt                                 17       17       15
    -----------------------------             ---      ---      ---
              Total interest expense           40       39       40
              ----------------------          ---      ---      ---
              Net interest income             391      395      405
    Provision for loan losses                  47       49       57
    -------------------------                 ---      ---      ---
               Net interest income after
               provision for loan losses      344      346      348

    NONINTEREST INCOME
    Service charges on deposit
     accounts                                  51       52       49
    Fiduciary income                           39       39       39
    Commercial lending fees                    21       21       29
    Letter of credit fees                      18       18       20
    Card fees                                  15       15       15
    Foreign exchange income                    10        9       11
    Bank-owned life insurance                   9        8       14
    Brokerage fees                              6        6        7
    Net securities gains                        4        2        -
    Other noninterest income                   29       37       31
    ------------------------                  ---      ---      ---
              Total noninterest income        202      207      215

    NONINTEREST EXPENSES
    Salaries                                  185      188      205
    Employee benefits                          50       50       43
    -----------------                         ---      ---      ---
         Total salaries and employee
          benefits                            235      238      248
    Net occupancy expense                      38       40       42
    Equipment expense                          17       15       16
    Outside processing fee expense             25       24       27
    Software expense                           20       23       23
    FDIC insurance expense                     12       15       15
    Legal fees                                  8        9        9
    Advertising expense                         7        7        8
    Other real estate expense                   6        8        5
    Litigation and operational losses           5        3        6
    Merger and restructuring charges            5        -        -
    Provision for credit losses on
     lending-related commitments               (2)      (3)      (3)
    Other noninterest expenses                 33       36       41
    --------------------------                ---      ---      ---
              Total noninterest expenses      409      415      437
              --------------------------      ---      ---      ---
    Income before income taxes                137      138      126
    Provision for income taxes                 41       35       30
    --------------------------                ---      ---      ---
    NET INCOME                                 96      103       96
    Less:
        Income allocated to participating
         securities                             1        1        1
    Net income (loss) attributable to
     common shares                            $95     $102      $95
    ---------------------------------         ---     ----      ---

    Earnings per common share:
         Basic                              $0.54    $0.58    $0.54
         Diluted                             0.53     0.57     0.53

    Cash dividends declared on common
     stock                                     18       17       18
    Cash dividends declared per common
     share                                   0.10     0.10     0.10
    ----------------------------------       ----     ----     ----

                                             Third   Second
                                            Quarter  Quarter
    (in millions, except per share
     data)                                     2010     2010
    ------------------------------             ----     ----

    INTEREST INCOME
    Interest and fees on loans                 $399     $412
    Interest on investment securities            55       61
    Interest on short-term investments            2        3
    ----------------------------------          ---      ---
              Total interest income           456      476

    INTEREST EXPENSE
    Interest on deposits                       27       29
    Interest on short-term borrowings           -        -
    Interest on medium- and long-
     term debt                                 25       25
    -----------------------------             ---      ---
              Total interest expense           52       54
              ----------------------          ---      ---
              Net interest income             404      422
    Provision for loan losses                 122      126
    -------------------------                 ---      ---
               Net interest income after
               provision for loan losses      282      296

    NONINTEREST INCOME
    Service charges on deposit
     accounts                                  51       52
    Fiduciary income                           38       38
    Commercial lending fees                    22       22
    Letter of credit fees                      19       19
    Card fees                                  15       15
    Foreign exchange income                     8       10
    Bank-owned life insurance                   9        9
    Brokerage fees                              6        6
    Net securities gains                        -        1
    Other noninterest income                   18       22
    ------------------------                  ---      ---
              Total noninterest income        186      194

    NONINTEREST EXPENSES
    Salaries                                  187      179
    Employee benefits                          47       45
    -----------------                         ---      ---
         Total salaries and employee
          benefits                            234      224
    Net occupancy expense                      40       39
    Equipment expense                          15       15
    Outside processing fee expense             23       23
    Software expense                           22       22
    FDIC insurance expense                     14       16
    Legal fees                                  9        9
    Advertising expense                         7        7
    Other real estate expense                   7        5
    Litigation and operational losses           2        2
    Merger and restructuring charges            -        -
    Provision for credit losses on
     lending-related commitments               (6)       -
    Other noninterest expenses                 35       35
    --------------------------                ---      ---
              Total noninterest expenses      402      397
              --------------------------      ---      ---
    Income before income taxes                 66       93
    Provision for income taxes                  7       23
    --------------------------                ---      ---
    NET INCOME                                 59       70
    Less:
        Income allocated to participating
         securities                             -        1
    Net income (loss) attributable to
     common shares                            $59      $69
    ---------------------------------         ---      ---

    Earnings per common share:
         Basic                              $0.34    $0.40
         Diluted                             0.33     0.39

    Cash dividends declared on common
     stock                                      9        8
    Cash dividends declared per common
     share                                   0.05     0.05
    ----------------------------------       ----     ----

                                     Second Quarter 2011 Compared To:
                                     --------------------------------
                                         First Quarter
                                                                      2011
    (in millions, except per
     share data)                          Amount   Percent
    ------------------------              ------   -------

    INTEREST INCOME
    Interest and fees on loans                $(6)      (1)%
    Interest on investment
     securities                               2         2
    Interest on short-term
     investments                              1         9
    ----------------------                  ---       ---
              Total interest income          (3)       (1)

    INTEREST EXPENSE
    Interest on deposits                      1        (1)
    Interest on short-term
     borrowings                               -       (46)
    Interest on medium- and
     long-term debt                           -         4
    -----------------------                 ---       ---
              Total interest expense          1         1
              ----------------------        ---       ---
              Net interest income            (4)       (1)
    Provision for loan losses                (2)       (4)
    -------------------------               ---       ---
               Net interest income after
               provision for loan losses     (2)       (1)

    NONINTEREST INCOME
    Service charges on deposit
     accounts                                (1)       (4)
    Fiduciary income                          -         2
    Commercial lending fees                   -         4
    Letter of credit fees                     -        (1)
    Card fees                                 -         7
    Foreign exchange income                   1         7
    Bank-owned life insurance                 1         1
    Brokerage fees                            -        (8)
    Net securities gains                      2        82
    Other noninterest income                 (8)      (20)
    ------------------------                ---       ---
              Total noninterest income       (5)       (2)

    NONINTEREST EXPENSES
    Salaries                                 (3)       (1)
    Employee benefits                         -        (1)
    -----------------                       ---       ---
         Total salaries and employee
          benefits                           (3)       (1)
    Net occupancy expense                    (2)       (3)
    Equipment expense                         2         5
    Outside processing fee
     expense                                  1         5
    Software expense                         (3)       (8)
    FDIC insurance expense                   (3)      (16)
    Legal fees                               (1)        -
    Advertising expense                       -         -
    Other real estate expense                (2)      (35)
    Litigation and operational
     losses                                   2        60
    Merger and restructuring
     charges                                  5       N/M
    Provision for credit losses
     on lending-related
     commitments                              1        21
    Other noninterest expenses               (3)      (11)
    --------------------------              ---       ---
              Total noninterest expenses     (6)       (1)
              --------------------------    ---       ---
    Income before income taxes               (1)       (1)
    Provision for income taxes                6        19
    --------------------------              ---       ---
    NET INCOME                               (7)       (7)
    Less:
        Income allocated to
         participating securities             -        (6)
                                                      ---
    Net income (loss)
     attributable to common
     shares                                 $(7)      (7)%
    -----------------------                 ---       ---

    Earnings per common share:
         Basic                           $(0.04)      (7)%
         Diluted                          (0.04)       (7)

    Cash dividends declared on
     common stock                             1         -
    Cash dividends declared per
     common share                             -         -
    ---------------------------             ---       ---

                                         Second Quarter 2011 Compared To:
                                         --------------------------------
                                             Second Quarter
                                                                          2010
    (in millions, except per
     share data)                          Amount   Percent
    ------------------------              ------   -------

    INTEREST INCOME
    Interest and fees on loans               $(43)     (10)%
    Interest on investment
     securities                              (2)       (4)
    Interest on short-term
     investments                              -       (12)
    ----------------------                  ---       ---
              Total interest income         (45)       (9)

    INTEREST EXPENSE
    Interest on deposits                     (6)      (21)
    Interest on short-term
     borrowings                               -       (77)
    Interest on medium- and
     long-term debt                          (8)      (30)
    -----------------------                 ---       ---
              Total interest expense        (14)      (25)
              ----------------------        ---       ---
              Net interest income           (31)       (7)
    Provision for loan losses               (79)      (63)
    -------------------------               ---       ---
               Net interest income after
               provision for loan losses     48        16

    NONINTEREST INCOME
    Service charges on deposit
     accounts                                (1)       (5)
    Fiduciary income                          1         3
    Commercial lending fees                  (1)       (1)
    Letter of credit fees                    (1)       (1)
    Card fees                                 -         6
    Foreign exchange income                   -        (4)
    Bank-owned life insurance                 -         1
    Brokerage fees                            -        (8)
    Net securities gains                      3       N/M
    Other noninterest income                  7        32
    ------------------------                ---       ---
              Total noninterest income        8         4

    NONINTEREST EXPENSES
    Salaries                                  6         3
    Employee benefits                         5        11
    -----------------                       ---       ---
         Total salaries and employee
          benefits                           11         5
    Net occupancy expense                    (1)        -
    Equipment expense                         2         5
    Outside processing fee
     expense                                  2         8
    Software expense                         (2)       (4)
    FDIC insurance expense                   (4)      (24)
    Legal fees                               (1)        -
    Advertising expense                       -        (5)
    Other real estate expense                 1         9
    Litigation and operational
     losses                                   3       N/M
    Merger and restructuring
     charges                                  5       N/M
    Provision for credit losses
     on lending-related
     commitments                             (2)      N/M
    Other noninterest expenses               (2)       (8)
    --------------------------              ---       ---
              Total noninterest expenses     12         3
              --------------------------    ---       ---
    Income before income taxes               44        48
    Provision for income taxes               18        81
    --------------------------              ---       ---
    NET INCOME                               26        37
    Less:
        Income allocated to
         participating securities             -       N/M
                                                      ---
    Net income (loss)
     attributable to common
     shares                                 $26        36%
    -----------------------                 ---       ---

    Earnings per common share:
         Basic                            $0.14        35%
         Diluted                           0.14        36

    Cash dividends declared on
     common stock                            10       N/M
    Cash dividends declared per
     common share                          0.05       N/M
    ---------------------------            ----       ---

    N/M - Not meaningful

    ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)
    Comerica Incorporated and Subsidiaries

                                                                      2011
                                                                      ----
                                                                      1st
    (in millions)                                     2nd Qtr         Qtr
    -------------                                     -------        ----

    Balance at beginning of period                       $849         $901

    Loan charge-offs:
        Commercial                                         66           65
        Real estate construction:
            Commercial Real Estate business line
             (a)                                           12            8
            Other business lines (b)                        -            1
            ------------------------                      ---          ---
              Total real estate construction               12            9
        Commercial mortgage:
            Commercial Real Estate business line
             (a)                                            8            9
            Other business lines (b)                       23           25
            ------------------------                      ---          ---
              Total commercial mortgage                    31           34
        Residential mortgage                                7            2
        Consumer                                            9            8
        Lease financing                                     -            -
        International                                       -            5
        -------------                                     ---          ---
            Total loan charge-offs                        125          123

    Recoveries on loans previously
     charged-off:
        Commercial                                         13            4
        Real estate construction                            5            2
        Commercial mortgage                                 5            9
        Residential mortgage                                1            -
        Consumer                                            1            1
        Lease financing                                     6            5
        International                                       4            1
        -------------                                     ---          ---
            Total recoveries                               35           22
            ----------------                              ---          ---
    Net loan charge-offs                                   90          101
    Provision for loan losses                              47           49
    -------------------------                             ---          ---
    Balance at end of period                             $806         $849
    ------------------------                             ----         ----

    Allowance for loan losses as a
     percentage of total loans                           2.06%        2.17%

    Net loan charge-offs as a
     percentage of average total loans                   0.92         1.03

    Net credit-related charge-offs as
     a percentage of average total loans                 0.92         1.03
    ------------------------------------                 ----         ----

                                                                       2010
                                                                       ----
                                                  4th    3rd
    (in millions)                                 Qtr    Qtr   2nd Qtr
    -------------                                ----   ----   -------

    Balance at beginning of period                $957   $967     $987

    Loan charge-offs:
        Commercial                                  43     38       65
        Real estate construction:
            Commercial Real Estate business line
             (a)                                    34     40       30
            Other business lines (b)                 -      1        -
            ------------------------               ---    ---      ---
              Total real estate construction        34     41       30
        Commercial mortgage:
            Commercial Real Estate business line
             (a)                                     9     16       12
            Other business lines (b)                34     40       36
            ------------------------               ---    ---      ---
              Total commercial mortgage             43     56       48
        Residential mortgage                         5      2        5
        Consumer                                    15      7        9
        Lease financing                              -      -        1
        International                                -      1        -
        -------------                              ---    ---      ---
            Total loan charge-offs                 140    145      158

    Recoveries on loans previously
     charged-off:
        Commercial                                   7      7        4
        Real estate construction                     3      1        6
        Commercial mortgage                         10      2        1
        Residential mortgage                         1      -        -
        Consumer                                     2      1        1
        Lease financing                              4      1        -
        International                                -      1        -
        -------------                              ---    ---      ---
            Total recoveries                        27     13       12
            ----------------                       ---    ---      ---
    Net loan charge-offs                           113    132      146
    Provision for loan losses                       57    122      126
    -------------------------                      ---    ---      ---
    Balance at end of period                      $901   $957     $967
    ------------------------                      ----   ----     ----

    Allowance for loan losses as a
     percentage of total loans                    2.24%  2.38%    2.38%

    Net loan charge-offs as a
     percentage of average total loans            1.13   1.32     1.44

    Net credit-related charge-offs as
     a percentage of average total loans          1.13   1.32     1.44
    ------------------------------------          ----   ----     ----

    (a) Primarily charge-offs of loans to real estate investors and
    developers.
    (b) Primarily charge-offs of loans secured by owner-occupied real estate.

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

                                                              2011
                                                              ----
    (in millions)                            2nd Qtr      1st Qtr
    -------------                            -------      -------

    Balance at beginning of period               $32           $35
    Add: Provision for credit losses on
     lending-related commitments                  (2)           (3)
    -----------------------------------          ---           ---
    Balance at end of period                     $30           $32
    ------------------------                     ---           ---

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

                                                              2010
                                                              ----
    (in millions)                       4th Qtr   3rd Qtr  2nd Qtr
    -------------                       -------   -------  -------

    Balance at beginning of period           $38      $44      $44
    Add: Provision for credit losses on
     lending-related commitments              (3)      (6)       -
    -----------------------------------      ---      ---      ---
    Balance at end of period                 $35      $38      $44
    ------------------------                 ---      ---      ---

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

    NONPERFORMING ASSETS (unaudited)
    Comerica Incorporated and Subsidiaries

                                                                 2011
                                                                 ----
    (in millions)                               2nd Qtr       1st Qtr
    -------------                               -------       -------

    SUMMARY OF NONPERFORMING ASSETS AND
     PAST DUE LOANS
    Nonaccrual loans:
      Business loans:
        Commercial                                 $261          $226
        Real estate construction:
         Commercial Real Estate business line
          (a)                                     137           195
         Other business lines (b)                   2             3
         ------------------------                 ---           ---
           Total real estate construction         139           198
        Commercial mortgage:
         Commercial Real Estate business line
          (a)                                     186           197
         Other business lines (b)                 269           293
         ------------------------                 ---           ---
           Total commercial mortgage              455           490
        Lease financing                             6             7
        International                               7             4
        -------------                             ---           ---
       Total nonaccrual business loans            868           925
    Retail loans:
        Residential mortgage                       60            58
        Consumer:
         Home equity                                4             6
         Other consumer                             9             7
         --------------                           ---           ---
           Total consumer                          13            13
           --------------                         ---           ---
        Total nonaccrual retail loans              73            71
        -----------------------------             ---           ---
      Total nonaccrual loans                      941           996
    Reduced-rate loans                             33            34
    ------------------                            ---           ---
    Total nonperforming loans                     974         1,030
    Foreclosed property                            70            74
    -------------------                           ---           ---
    Total nonperforming assets                 $1,044        $1,104
    --------------------------                 ------        ------

    Nonperforming loans as a percentage of
     total loans                                 2.49%         2.63%
    Nonperforming assets as a percentage
     of total loans
        and foreclosed property                  2.66          2.81
    Allowance for loan losses as a
     percentage
        of total nonperforming loans               83            82
    Loans past due 90 days or more and
     still accruing                               $64           $72



    ANALYSIS OF NONACCRUAL LOANS
    Nonaccrual loans at beginning of
     period                                      $996        $1,080
         Loans transferred to nonaccrual (c)      163           166
         Nonaccrual business loan gross charge-
          offs (d)                               (109)         (111)
         Loans transferred to accrual status
          (c)                                       -            (4)
         Nonaccrual business loans sold (e)        (9)          (60)
         Payments/Other (f)                      (100)          (75)
         ------------------                      ----           ---
    Nonaccrual loans at end of period            $941          $996
    ---------------------------------            ----          ----

    (a) Primarily loans to real estate
     investors and developers.
    (b) Primarily loans secured by owner-
     occupied real estate.
    (c) Based on an analysis of nonaccrual
     loans with book balances greater than
     $2 million.
    (d) Analysis of gross loan charge-
     offs:

          Nonaccrual business loans              $109          $111
          Performing watch list loans               -             2
          Consumer and residential mortgage
           loans                                   16            10
                                                  ---           ---
              Total gross loan charge-offs       $125          $123
                                                 ----
    (e) Analysis of loans sold:

          Nonaccrual business loans                $9           $60
          Performing watch list loans               6            35
                                                  ---           ---
              Total loans sold                    $15           $95
                                                  ---
    (f) Includes net changes related to
     nonaccrual loans with balances less
     than $2 million, payments on
     nonaccrual 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.

                                                                      2010
                                                                      ----
    (in millions)                           4th Qtr  3rd Qtr 2nd Qtr
    -------------                           -------  ------- -------

    SUMMARY OF NONPERFORMING ASSETS
     AND PAST DUE LOANS
    Nonaccrual loans:
      Business loans:
        Commercial                             $252     $258     $239
        Real estate construction:
         Commercial Real Estate business
          line (a)                            259      362      385
         Other business lines (b)               4        4        4
         ------------------------             ---      ---      ---
           Total real estate construction     263      366      389
        Commercial mortgage:
         Commercial Real Estate business
          line (a)                            181      153      135
         Other business lines (b)             302      304      257
         ------------------------             ---      ---      ---
           Total commercial mortgage          483      457      392
        Lease financing                         7       10       11
        International                           2        2        3
        -------------                         ---      ---      ---
       Total nonaccrual business loans      1,007    1,093    1,034
    Retail loans:
        Residential mortgage                   55       59       53
        Consumer:
         Home equity                            5        5        7
         Other consumer                        13        6        4
         --------------                       ---      ---      ---
           Total consumer                      18       11       11
           --------------                     ---      ---      ---
        Total nonaccrual retail loans          73       70       64
        -----------------------------         ---      ---      ---
      Total nonaccrual loans                1,080    1,163    1,098
    Reduced-rate loans                         43       28       23
    ------------------                        ---      ---      ---
    Total nonperforming loans               1,123    1,191    1,121
    Foreclosed property                       112      120       93
    -------------------                       ---      ---      ---
    Total nonperforming assets             $1,235   $1,311   $1,214
    --------------------------             ------   ------   ------

    Nonperforming loans as a
     percentage of total loans               2.79%    2.96%    2.76%
    Nonperforming assets as a
     percentage of total loans
        and foreclosed property              3.06     3.24     2.98
    Allowance for loan losses as a
     percentage
        of total nonperforming loans           80       80       86
    Loans past due 90 days or more
     and still accruing                       $62     $104     $115



    ANALYSIS OF NONACCRUAL LOANS
    Nonaccrual loans at beginning of
     period                                $1,163   $1,098   $1,145
         Loans transferred to nonaccrual
          (c)                                 180      294      199
         Nonaccrual business loan gross
          charge-offs (d)                    (120)    (136)    (143)
         Loans transferred to accrual
          status (c)                           (4)     (10)       -
         Nonaccrual business loans sold
          (e)                                 (41)     (12)     (47)
         Payments/Other (f)                   (98)     (71)     (56)
         ------------------                   ---      ---      ---
    Nonaccrual loans at end of
     period                                $1,080   $1,163   $1,098
    --------------------------             ------   ------   ------

    (a) Primarily loans to real
     estate investors and
     developers.
    (b) Primarily loans secured by
     owner-occupied real estate.
    (c) Based on an analysis of
     nonaccrual loans with book
     balances greater than $2
     million.
    (d) Analysis of gross loan
     charge-offs:

          Nonaccrual business loans          $120     $136     $143
          Performing watch list loans           -        -        1
          Consumer and residential
           mortgage loans                      20        9       14
                                              ---      ---      ---
              Total gross loan charge-offs   $140     $145     $158
                                             ----
    (e) Analysis of loans sold:

          Nonaccrual business loans           $41      $12      $47
          Performing watch list loans          29        7       15
                                              ---      ---      ---
              Total loans sold                $70      $19      $62
                                              ---
    (f) Includes net changes related
     to nonaccrual loans with
     balances less than $2 million,
     payments on nonaccrual 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, 2011
                                             -------------
                                   Average                Average
    (dollar amounts in
     millions)                     Balance   Interest       Rate
    ------------------             -------   --------       ----

    Commercial loans                $21,586      $396    3.70%
    Real estate construction
     loans                            2,029        36    3.62
    Commercial mortgage loans         9,713       191    3.96
    Residential mortgage loans        1,562        42    5.37
    Consumer loans                    2,262        39    3.42
    Lease financing                     972        17    3.56
    International loans               1,237        24    3.83
    Business loan swap income             -         1       -
                                        ---       ---     ---
      Total loans                    39,361       746    3.82

    Auction-rate securities
     available-for-sale                 527         2    0.80
    Other investment
     securities available-
     for-sale                         6,832       114    3.39
                                      -----       ---    ----
      Total investment
       securities available-
       for-sale                       7,359       116    3.19

    Federal funds sold and
     securities purchased
      under agreements to resell          2         -    0.32
    Interest-bearing deposits
     with banks (a)                   2,897         4    0.25
    Other short-term
     investments                        124         1    2.05
                                        ---       ---    ----
      Total earning assets           49,743       867    3.51

    Cash and due from banks             878
    Allowance for loan losses          (883)
    Accrued income and other
     assets                           4,410
                                      -----
      Total assets                  $54,148
                                    -------

    Money market and NOW
     deposits                       $18,003        23    0.26
    Savings deposits                  1,443         1    0.09
    Customer certificates of
     deposit                          5,559        20    0.73
                                      -----       ---    ----
      Total interest-bearing
       core deposits                 25,005        44    0.36
    Other time deposits                   -         -       -
    Foreign office time
     deposits                           413         1    0.50
                                        ---       ---    ----
      Total interest-bearing
       deposits                      25,418        45    0.36

    Short-term borrowings               103         -    0.21
    Medium- and long-term debt        5,974        34    1.15
                                      -----       ---    ----
      Total interest-bearing
       sources                       31,495        79    0.51

    Noninterest-bearing
     deposits                        15,623
    Accrued expenses and other
     liabilities                      1,126
    Total shareholders' equity        5,904
                                      -----
      Total liabilities and
       shareholders' equity         $54,148
                                    -------

    Net interest income/rate
     spread (FTE)                                $788    3.00
                                                 ----

    FTE adjustment                                 $2
                                                  ---

    Impact of net noninterest-
     bearing
      sources of funds                                   0.19
      ----------------                                   ----
    Net interest margin (as a
     percentage
      of average earning assets)
       (FTE) (a)                                         3.19%
      --------------------------                         ----

                                         Six Months Ended
                                         ----------------
                                             June 30, 2010
                                             -------------
                                   Average                Average
    (dollar amounts in
     millions)                     Balance   Interest       Rate
    ------------------             -------   --------       ----

    Commercial loans                $20,961      $411    3.95%
    Real estate construction
     loans                            3,185        48    3.03
    Commercial mortgage loans        10,380       216    4.19
    Residential mortgage loans        1,620        44    5.43
    Consumer loans                    2,464        44    3.57
    Lease financing                   1,119        21    3.73
    International loans               1,261        25    4.00
    Business loan swap income             -        17       -
                                        ---       ---     ---
      Total loans                    40,990       826    4.06

    Auction-rate securities
     available-for-sale                 847         5    1.06
    Other investment
     securities available-
     for-sale                         6,475       118    3.72
                                      -----       ---    ----
      Total investment
       securities available-
       for-sale                       7,322       123    3.40

    Federal funds sold and
     securities purchased
      under agreements to resell          1         -    1.17
    Interest-bearing deposits
     with banks (a)                   3,944         5    0.25
    Other short-term
     investments                        128         1    1.70
                                        ---       ---    ----
      Total earning assets           52,385       955    3.67

    Cash and due from banks             792
    Allowance for loan losses        (1,048)
    Accrued income and other
     assets                           4,756
                                      -----
      Total assets                  $56,885
                                    -------

    Money market and NOW
     deposits                       $15,709        25    0.32
    Savings deposits                  1,407         -    0.07
    Customer certificates of
     deposit                          6,049        30    0.97
                                      -----       ---    ----
      Total interest-bearing
       core deposits                 23,165        55    0.48
    Other time deposits                 584         9    3.18
    Foreign office time
     deposits                           453         -    0.22
                                        ---       ---    ----
      Total interest-bearing
       deposits                      24,202        64    0.54

    Short-term borrowings               241         -    0.19
    Medium- and long-term debt       10,169        51    0.99
                                     ------       ---    ----
      Total interest-bearing
       sources                       34,612       115    0.67

    Noninterest-bearing
     deposits                        14,923
    Accrued expenses and other
     liabilities                      1,067
    Total shareholders' equity        6,283
                                      -----
      Total liabilities and
       shareholders' equity         $56,885
                                    -------

    Net interest income/rate
     spread (FTE)                                $840    3.00
                                                 ----

    FTE adjustment                                 $3
                                                  ---

    Impact of net noninterest-
     bearing
      sources of funds                                   0.23
      ----------------                                   ----
    Net interest margin (as a
     percentage
      of average earning assets)
       (FTE) (a)                                         3.23%
      --------------------------                         ----

    (a) Excess liquidity, represented by average balances deposited with
    the Federal Reserve Bank, reduced the net interest margin by 18
    basis points and 24 basis points year-to-date in 2011 and 2010,
    respectively.  Excluding excess liquidity, the net interest margin
    would have been 3.37% in 2011 and 3.47% in 2010.  See Reconciliation
    of Non-GAAP Financial Measures.

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

                                       Three Months Ended
                                       ------------------
                                         June 30, 2011
                                         -------------
                                Average                Average
    (dollar amounts in
     millions)                  Balance   Interest       Rate
    ------------------          -------   --------       ----

    Commercial loans             $21,677      $196    3.65%
    Real estate
     construction loans            1,881        17    3.75
    Commercial mortgage
     loans                         9,636        96    3.98
    Residential mortgage
     loans                         1,525        21    5.50
    Consumer loans                 2,243        20    3.42
    Lease financing                  958         8    3.50
    International loans            1,254        12    3.80
    Business loan swap
     income                            -         -       -
                                     ---       ---     ---
      Total loans                 39,174       370    3.79

    Auction-rate
     securities available-
     for-sale                        500         1    0.71
    Other investment
     securities available-
     for-sale                      6,907        58    3.40
                                   -----       ---    ----
      Total investment
       securities available-
       for-sale                    7,407        59    3.20

    Federal funds sold and
     securities purchased
      under agreements to
       resell                          2         -    0.33
    Interest-bearing
     deposits with banks
     (a)                           3,433         3    0.25
    Other short-term
     investments                     120         -    1.39
                                     ---       ---    ----
      Total earning assets        50,136       432    3.46

    Cash and due from banks          872
    Allowance for loan
     losses                         (859)
    Accrued income and
     other assets                  4,368
                                   -----
      Total assets               $54,517
                                 -------

    Money market and NOW
     deposits                    $18,207        11    0.26
    Savings deposits               1,465         1    0.09
    Customer certificates
     of deposit                    5,609        10    0.70
                                   -----       ---    ----
      Total interest-bearing
       core deposits              25,281        22    0.35
    Other time deposits                -         -       -
    Foreign office time
     deposits                        413         1    0.52
                                     ---       ---    ----
      Total interest-bearing
       deposits                   25,694        23    0.35

    Short-term borrowings            112         -    0.14
    Medium- and long-term
     debt                          5,821        17    1.20
                                   -----       ---    ----
      Total interest-bearing
       sources                    31,627        40    0.51

    Noninterest-bearing
     deposits                     15,786
    Accrued expenses and
     other liabilities             1,132
    Total shareholders'
     equity                        5,972
                                   -----
      Total liabilities and
       shareholders' equity      $54,517
                                 -------

    Net interest income/
     rate spread (FTE)                        $392    2.95
                                              ----

    FTE adjustment                              $1
                                               ---

    Impact of net
     noninterest-bearing
      sources of funds                                0.19
      ----------------                                ----
    Net interest margin (as
     a percentage
      of average earning
       assets) (FTE) (a)                              3.14%
      ------------------                              ----

                                       Three Months Ended
                                       ------------------
                                         March 31, 2011
                                         --------------
                                Average                Average
    (dollar amounts in
     millions)                  Balance   Interest       Rate
    ------------------          -------   --------       ----

    Commercial loans             $21,496      $200    3.76%
    Real estate
     construction loans            2,179        19    3.51
    Commercial mortgage
     loans                         9,790        95    3.95
    Residential mortgage
     loans                         1,599        21    5.24
    Consumer loans                 2,281        19    3.42
    Lease financing                  987         9    3.62
    International loans            1,219        12    3.87
    Business loan swap
     income                            -         1       -
                                     ---       ---     ---
      Total loans                 39,551       376    3.85

    Auction-rate
     securities available-
     for-sale                        554         1    0.88
    Other investment
     securities available-
     for-sale                      6,757        56    3.37
                                   -----       ---    ----
      Total investment
       securities available-
       for-sale                    7,311        57    3.17

    Federal funds sold and
     securities purchased
      under agreements to
       resell                          3         -    0.32
    Interest-bearing
     deposits with banks
     (a)                           2,354         1    0.26
    Other short-term
     investments                     128         1    2.68
                                     ---       ---    ----
      Total earning assets        49,347       435    3.57

    Cash and due from banks          884
    Allowance for loan
     losses                         (908)
    Accrued income and
     other assets                  4,452
                                   -----
      Total assets               $53,775
                                 -------

    Money market and NOW
     deposits                    $17,797        12    0.26
    Savings deposits               1,421         -    0.09
    Customer certificates
     of deposit                    5,509        10    0.76
                                   -----       ---    ----
      Total interest-bearing
       core deposits              24,727        22    0.36
    Other time deposits                -         -       -
    Foreign office time
     deposits                        412         -    0.49
                                     ---       ---    ----
      Total interest-bearing
       deposits                   25,139        22    0.37

    Short-term borrowings             94         -    0.31
    Medium- and long-term
     debt                          6,128        17    1.10
                                   -----       ---    ----
      Total interest-bearing
       sources                    31,361        39    0.51

    Noninterest-bearing
     deposits                     15,459
    Accrued expenses and
     other liabilities             1,120
    Total shareholders'
     equity                        5,835
                                   -----
      Total liabilities and
       shareholders' equity      $53,775
                                 -------

    Net interest income/
     rate spread (FTE)                        $396    3.06
                                              ----

    FTE adjustment                              $1
                                               ---

    Impact of net
     noninterest-bearing
      sources of funds                                0.19
      ----------------                                ----
    Net interest margin (as
     a percentage
      of average earning
       assets) (FTE) (a)                              3.25%
      ------------------                              ----

                                    Three Months Ended
                                    ------------------
                                         June 30, 2010
                                         -------------
                                Average                Average
    (dollar amounts in
     millions)                  Balance   Interest       Rate
    ------------------          -------   --------       ----

    Commercial loans             $20,910      $206    3.95%
    Real estate
     construction loans            2,987        23    3.13
    Commercial mortgage
     loans                        10,372       109    4.20
    Residential mortgage
     loans                         1,607        22    5.44
    Consumer loans                 2,448        22    3.56
    Lease financing                1,108        10    3.72
    International loans            1,240        13    4.07
    Business loan swap
     income                            -         9       -
                                     ---       ---     ---
      Total loans                 40,672       414    4.07

    Auction-rate
     securities available-
     for-sale                        816         3    1.19
    Other investment
     securities available-
     for-sale                      6,446        58    3.71
                                   -----       ---    ----
      Total investment
       securities available-
       for-sale                    7,262        61    3.41

    Federal funds sold and
     securities purchased
      under agreements to
       resell                          1         -    1.35
    Interest-bearing
     deposits with banks
     (a)                           3,768         3    0.25
    Other short-term
     investments                     132         -    1.65
                                     ---       ---    ----
      Total earning assets        51,835       478    3.70

    Cash and due from banks          795
    Allowance for loan
     losses                       (1,037)
    Accrued income and
     other assets                  4,665
                                   -----
      Total assets               $56,258
                                 -------

    Money market and NOW
     deposits                    $16,354        13    0.32
    Savings deposits               1,429         -    0.07
    Customer certificates
     of deposit                    5,927        15    0.92
                                   -----       ---    ----
      Total interest-bearing
       core deposits              23,710        28    0.45
    Other time deposits              295         1    2.14
    Foreign office time
     deposits                        448         -    0.23
                                     ---       ---    ----
      Total interest-bearing
       deposits                   24,453        29    0.47

    Short-term borrowings            248         -    0.27
    Medium- and long-term
     debt                          9,571        25    1.04
                                   -----       ---    ----
      Total interest-bearing
       sources                    34,272        54    0.63

    Noninterest-bearing
     deposits                     15,218
    Accrued expenses and
     other liabilities             1,060
    Total shareholders'
     equity                        5,708
                                   -----
      Total liabilities and
       shareholders' equity      $56,258
                                 -------

    Net interest income/
     rate spread (FTE)                        $424    3.07
                                              ----

    FTE adjustment                              $2
                                               ---

    Impact of net
     noninterest-bearing
      sources of funds                                0.21
      ----------------                                ----
    Net interest margin (as
     a percentage
      of average earning
       assets) (FTE) (a)                              3.28%
      ------------------                              ----

    (a) Excess liquidity, represented by average balances deposited with
    the Federal Reserve Bank, reduced the net interest margin by 21
    basis points and by 14 points in the second and first quarters of
    2011, respectively and by 23 basis points in the second quarter of
    2010.  Excluding excess liquidity, the net interest margin would
    have been 3.35%, 3.39% and 3.51% in each respective period.  See
    Reconciliation of Non-GAAP Financial Measures.

    CONSOLIDATED STATISTICAL DATA (unaudited)
    Comerica Incorporated and Subsidiaries

                            June 30,        March 31,         December 31,
    (in millions,
     except per share
     data)                       2011             2011                 2010
    -----------------            ----             ----                 ----

    Commercial loans:
         Floor plan            $1,478           $1,893               $2,017
         Other                 20,574           19,467               20,128
         -----                 ------           ------               ------
              Total
              commercial
              loans            22,052           21,360               22,145
    Real estate
     construction
     loans:
         Commercial Real
          Estate business
          line (a)              1,343            1,606                1,826
         Other business
          lines (b)               385              417                  427
         --------------           ---              ---                  ---
              Total real
              estate
              construction
              loans             1,728            2,023                2,253
    Commercial
     mortgage loans:
         Commercial Real
          Estate business
          line (a)              1,930            1,918                1,937
         Other business
          lines (b)             7,649            7,779                7,830
         --------------         -----            -----                -----
              Total
              commercial
              mortgage
              loans             9,579            9,697                9,767
    Residential
     mortgage loans             1,491            1,550                1,619
    Consumer loans:
         Home equity            1,622            1,661                1,704
         Other consumer           610              601                  607
         --------------           ---              ---                  ---
              Total
              consumer
              loans             2,232            2,262                2,311
    Lease financing               949              958                1,009
    International
     loans                      1,162            1,326                1,132
    -------------               -----            -----                -----
              Total
              loans           $39,193          $39,176              $40,236
             ------           -------          -------              -------

    Goodwill                     $150             $150                 $150
    Loan servicing
     rights                         4                4                    5

    Tier 1 common
     capital ratio (c)
     (d)                        10.53%           10.35%               10.13%
    Tier 1 risk-based
     capital ratio (d)          10.53            10.35                10.13
    Total risk-based
     capital ratio (d)          14.81            14.80                14.54
    Leverage ratio (d)          11.39            11.37                11.26
    Tangible common
     equity ratio (c)           10.90            10.43                10.54

    Book value per
     common share              $34.15           $33.25               $32.82
    Market value per
     share for the
     quarter:
         High                   39.00            43.53                43.44
         Low                    33.08            36.20                34.43
         Close                  34.57            36.72                42.24

    Quarterly ratios:
         Return on average
          common
          shareholders'
          equity                 6.41%            7.08%                6.53%
         Return on average
          assets                 0.70             0.77                 0.71
         Efficiency ratio       69.33            69.05                70.38

    Number of banking
     centers                      446              445                  444

    Number of
     employees -full
     time equivalent            8,915            8,955                9,001

                             September 30,        June 30,
    (in millions,
     except per share
     data)                             2010            2010
    -----------------                  ----            ----

    Commercial loans:
         Floor plan                  $1,693          $1,586
         Other                       19,739          19,565
         -----                       ------          ------
              Total
              commercial
              loans                  21,432          21,151
    Real estate
     construction
     loans:
         Commercial Real
          Estate business
          line (a)                    2,023           2,345
         Other business
          lines (b)                     421             429
         --------------                 ---             ---
              Total real
              estate
              construction
              loans                   2,444           2,774
    Commercial
     mortgage loans:
         Commercial Real
          Estate business
          line (a)                    2,091           2,035
         Other business
          lines (b)                   8,089           8,283
         --------------               -----           -----
              Total
              commercial
              mortgage
              loans                  10,180          10,318
    Residential
     mortgage loans                   1,586           1,606
    Consumer loans:
         Home equity                  1,736           1,761
         Other consumer                 667             682
         --------------                 ---             ---
              Total
              consumer
              loans                   2,403           2,443
    Lease financing                   1,053           1,084
    International
     loans                            1,182           1,226
    -------------                     -----           -----
              Total
              loans                 $40,280         $40,602
             ------                 -------         -------

    Goodwill                           $150            $150
    Loan servicing
     rights                               5               6

    Tier 1 common
     capital ratio (c)
     (d)                               9.96%           9.81%
    Tier 1 risk-based
     capital ratio (d)                 9.96           10.64
    Total risk-based
     capital ratio (d)                14.37           15.03
    Leverage ratio (d)                10.91           11.36
    Tangible common
     equity ratio (c)                 10.39           10.11

    Book value per
     common share                    $33.19          $32.85
    Market value per
     share for the
     quarter:
         High                         40.21           45.85
         Low                          33.11           35.44
         Close                        37.15           36.83

    Quarterly ratios:
         Return on average
          common
          shareholders'
          equity                       4.07%           4.89%
         Return on average
          assets                       0.43            0.50
         Efficiency ratio             67.88           64.47

    Number of banking
     centers                            441             437

    Number of
     employees -full
     time equivalent                  9,075           9,107

    (a) Primarily loans to real estate investors and developers.
    (b) Primarily loans secured by owner-occupied real estate.
    (c) See Reconciliation of Non-GAAP Financial Measures.
    (d) June 30, 2011 ratios are estimated.

    PARENT COMPANY ONLY BALANCE SHEETS (unaudited)
    Comerica Incorporated

                                       June 30,   December 31,   June 30,
    (in millions, except share data)        2011           2010         2010
    --------------------------------        ----           ----         ----

    ASSETS
    Cash and due from subsidiary
     bank                                    $14             $-          $15
    Short-term investments with
     subsidiary bank                         413            327          659
    Other short-term investments              90             86           83
    Investment in subsidiaries,
     principally banks                     6,122          5,957        5,961
    Premises and equipment                     3              4            4
    Other assets                             162            181          190
    ------------                             ---            ---          ---
          Total assets                    $6,804         $6,555       $6,912
          ------------                    ------         ------       ------

    LIABILITIES AND SHAREHOLDERS'
     EQUITY
    Medium- and long-term debt              $635           $635         $999
    Other liabilities                        131            127          121
    -----------------                        ---            ---          ---
          Total liabilities                  766            762        1,120

    Common stock - $5 par value:
        Authorized -325,000,000 shares
        Issued - 203,878,110 shares        1,019          1,019        1,019
    Capital surplus                        1,472          1,481        1,467
    Accumulated other comprehensive
     loss                                   (308)          (389)        (240)
    Retained earnings                      5,395          5,247        5,124
    Less cost of common stock in
     treasury - 27,092,427 shares
     at 6/30/11, 27,342,518 shares
       at 12/31/10, and 27,561,412
        shares at 6/30/10                 (1,540)        (1,565)      (1,578)
       ---------------------------        ------         ------       ------
          Total shareholders' equity       6,038          5,793        5,792
          --------------------------       -----          -----        -----
          Total liabilities and
           shareholders' equity           $6,804         $6,555       $6,912
          ---------------------           ------         ------       ------

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

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

    BALANCE AT DECEMBER 31, 2009           $2,151            151.2      $894
    Net income                                  -                -         -
    Other comprehensive income, net
     of tax                                     -                -         -
    Total comprehensive income
    Cash dividends declared on
     preferred stock                            -                -         -
    Cash dividends declared on common
     stock ($0.10 per share)                    -                -         -
    Purchase of common stock                    -                -         -
    Issuance of common stock                    -             25.1       125
    Redemption of preferred stock          (2,250)               -         -
    Redemption discount accretion on
     preferred stock                           94                -         -
    Accretion of discount on
     preferred stock                            5                -         -
    Net issuance of common stock
     under employee stock plans                 -                -         -
    Share-based compensation                    -                -         -
    Other                                       -                -         -
    -----                                     ---                        ---
    BALANCE AT JUNE 30, 2010                   $-            176.3    $1,019
    ------------------------                  ---            -----    ------

    BALANCE AT DECEMBER 31, 2010               $-            176.5    $1,019
    Net income                                  -                -         -
    Other comprehensive income, net
     of tax                                     -                -         -
    Total comprehensive income
    Cash dividends declared on common
     stock ($0.20 per share)                    -                -         -
    Purchase of common stock                    -             (0.5)        -
    Net issuance of common stock
     under employee stock plans                 -              0.8         -
    Share-based compensation                    -                -         -
    ------------------------                  ---              ---       ---
    BALANCE AT JUNE 30, 2011                   $-            176.8    $1,019
    ------------------------                  ---            -----    ------

                                                    Accumulated
                                                       Other
                                       Capital     Comprehensive    Retained
    (in millions, except per share
     data)                             Surplus          Loss        Earnings
    ------------------------------     -------          ----        --------

    BALANCE AT DECEMBER 31, 2009           $740              $(336)    $5,161
    Net income                                -                  -        122
    Other comprehensive income, net
     of tax                                   -                 96          -
    Total comprehensive income
    Cash dividends declared on
     preferred stock                          -                  -        (38)
    Cash dividends declared on common
     stock ($0.10 per share)                  -                  -        (18)
    Purchase of common stock                  -                  -          -
    Issuance of common stock                724                  -          -
    Redemption of preferred stock             -                  -          -
    Redemption discount accretion on
     preferred stock                          -                  -        (94)
    Accretion of discount on
     preferred stock                          -                  -         (5)
    Net issuance of common stock
     under employee stock plans              (5)                 -         (4)
    Share-based compensation                 11                  -          -
    Other                                    (3)                 -          -
    -----                                   ---                ---        ---
    BALANCE AT JUNE 30, 2010             $1,467              $(240)    $5,124
    ------------------------             ------              -----     ------

    BALANCE AT DECEMBER 31, 2010         $1,481              $(389)    $5,247
    Net income                                -                  -        199
    Other comprehensive income, net
     of tax                                   -                 81          -
    Total comprehensive income
    Cash dividends declared on common
     stock ($0.20 per share)                  -                  -        (35)
    Purchase of common stock                  -                  -          -
    Net issuance of common stock
     under employee stock plans             (30)                 -        (16)
    Share-based compensation                 21                  -          -
    ------------------------                ---                ---        ---
    BALANCE AT JUNE 30, 2011             $1,472              $(308)    $5,395
    ------------------------             ------              -----     ------

                                                            Total
                                          Treasury      Shareholders'
    (in millions, except per share
     data)                                  Stock           Equity
    ------------------------------          -----           ------

    BALANCE AT DECEMBER 31, 2009              $(1,581)          $7,029
    Net income                                      -              122
    Other comprehensive income, net
     of tax                                         -               96
                                                                   ---
    Total comprehensive income                                     218
    Cash dividends declared on
     preferred stock                                -              (38)
    Cash dividends declared on common
     stock ($0.10 per share)                        -              (18)
    Purchase of common stock                       (4)              (4)
    Issuance of common stock                        -              849
    Redemption of preferred stock                   -           (2,250)
    Redemption discount accretion on
     preferred stock                                -                -
    Accretion of discount on
     preferred stock                                -                -
    Net issuance of common stock
     under employee stock plans                     6               (3)
    Share-based compensation                        -               11
    Other                                           1               (2)
    -----                                         ---              ---
    BALANCE AT JUNE 30, 2010                  $(1,578)          $5,792
    ------------------------                  -------           ------

    BALANCE AT DECEMBER 31, 2010              $(1,565)          $5,793
    Net income                                      -              199
    Other comprehensive income, net
     of tax                                         -               81
                                                                   ---
    Total comprehensive income                                     280
    Cash dividends declared on common
     stock ($0.20 per share)                        -              (35)
    Purchase of common stock                      (21)             (21)
    Net issuance of common stock
     under employee stock plans                    46                -
    Share-based compensation                        -               21
    ------------------------                      ---              ---
    BALANCE AT JUNE 30, 2011                  $(1,540)          $6,038
    ------------------------                  -------           ------

    BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)
     Comerica Incorporated and Subsidiaries

    (dollar amounts in millions)      Business       Retail          Wealth
    Three Months Ended June 30, 2011    Bank           Bank        Management
    --------------------------------    ----           ----        ----------
    Earnings summary:
    Net interest income (expense)
     (FTE)                                $342          $141              $48
    Provision for loan losses                6            24               14
    Noninterest income                      79            46               63
    Noninterest expenses                   158           162               76
    Provision (benefit) for income
     taxes (FTE)                            81             4                9
    Net income (loss)                     $176           $(3)             $12
                                          ----           ---              ---
    Net credit-related charge-offs         $54           $22              $14

    Selected average balances:
    Assets                             $29,893        $5,453           $4,728
    Loans                               29,380         4,999            4,742
    Deposits                            20,396        17,737            2,978

    Statistical data:
    Return on average assets (a)          2.35%       (0.06)%            1.03%
    Net interest margin (b)               4.65          3.22             4.07
    Efficiency ratio                     37.41         86.48            71.40
                                         -----         -----            -----

                                      Business       Retail          Wealth
    Three Months Ended March 31,
     2011                               Bank           Bank        Management
    ----------------------------        ----           ----        ----------
    Earnings summary:
    Net interest income (expense)
     (FTE)                                $341          $139              $44
    Provision for loan losses               18            23                8
    Noninterest income                      77            42               64
    Noninterest expenses                   160           162               78
    Provision (benefit) for income
     taxes (FTE)                            73            (2)               8
    Net income (loss)                     $167           $(2)             $14
                                          ----           ---              ---
    Net credit-related charge-offs         $73           $23               $5

    Selected average balances:
    Assets                             $30,091        $5,558           $4,809
    Loans                               29,609         5,106            4,807
    Deposits                            20,084        17,360            2,800

    Statistical data:
    Return on average assets (a)          2.22%       (0.05)%            1.14%
    Net interest margin (b)               4.66          3.25             3.76
    Efficiency ratio                     38.14         89.19            74.38
    ----------------                     -----         -----            -----

                                      Business       Retail          Wealth
    Three Months Ended June 30, 2010    Bank           Bank        Management
    --------------------------------    ----           ----        ----------
    Earnings summary:
    Net interest income (expense)
     (FTE)                                $351          $134              $45
    Provision for loan losses               83            20               19
    Noninterest income                      78            42               61
    Noninterest expenses                   157           160               79
    Provision (benefit) for income
     taxes (FTE)                            54            (1)               3
    Net income (loss)                     $135           $(3)              $5
                                          ----           ---              ---
    Net credit-related charge-offs        $113           $22              $11

    Selected average balances:
    Assets                             $30,609        $5,937           $4,903
    Loans                               30,353         5,446            4,840
    Deposits                            19,069        16,930            2,924

    Statistical data:
    Return on average assets (a)          1.75%       (0.06)%            0.43%
    Net interest margin (b)               4.63          3.17             3.73
    Efficiency ratio                     36.92         89.14            77.57
    ----------------                     -----         -----            -----

    (dollar amounts in millions)
    Three Months Ended June 30, 2011  Finance      Other        Total
    --------------------------------  -------      -----        -----
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $(147)         $8         $392
    Provision for loan losses               -           3           47
    Noninterest income                     11           3          202
    Noninterest expenses                    3          10          409
    Provision (benefit) for income
     taxes (FTE)                          (52)          -           42
    Net income (loss)                    $(87)        $(2)         $96
                                         ----         ---          ---
    Net credit-related charge-offs         $-          $-          $90

    Selected average balances:
    Assets                             $9,406      $5,037      $54,517
    Loans                                  48           5       39,174
    Deposits                              239         130       41,480

    Statistical data:
    Return on average assets (a)          N/M         N/M         0.70%
    Net interest margin (b)               N/M         N/M         3.14
    Efficiency ratio                      N/M         N/M        69.33
                                          ---         ---        -----


    Three Months Ended March 31,
     2011                             Finance      Other        Total
    ----------------------------      -------      -----        -----
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $(135)         $7         $396
    Provision for loan losses               -           -           49
    Noninterest income                     16           8          207
    Noninterest expenses                    3          12          415
    Provision (benefit) for income
     taxes (FTE)                          (46)          3           36
    Net income (loss)                    $(76)         $-         $103
                                         ----         ---         ----
    Net credit-related charge-offs         $-          $-         $101

    Selected average balances:
    Assets                             $9,314      $4,003      $53,775
    Loans                                  22           7       39,551
    Deposits                              249         105       40,598

    Statistical data:
    Return on average assets (a)          N/M         N/M         0.77%
    Net interest margin (b)               N/M         N/M         3.25
    Efficiency ratio                      N/M         N/M        69.05
    ----------------                      ---         ---        -----


    Three Months Ended June 30, 2010  Finance      Other        Total
    --------------------------------  -------      -----        -----
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $(103)        $(3)        $424
    Provision for loan losses               -           4          126
    Noninterest income                     13           -          194
    Noninterest expenses                    2          (1)         397
    Provision (benefit) for income
     taxes (FTE)                          (35)          4           25
    Net income (loss)                    $(57)       $(10)         $70
                                         ----        ----          ---
    Net credit-related charge-offs         $-          $-         $146

    Selected average balances:
    Assets                             $9,343      $5,466      $56,258
    Loans                                  36          (3)      40,672
    Deposits                              653          95       39,671

    Statistical data:
    Return on average assets (a)          N/M         N/M         0.50%
    Net interest margin (b)               N/M         N/M         3.28
    Efficiency ratio                      N/M         N/M        64.47
    ----------------                      ---         ---        -----

    (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)     Midwest       Western         Texas
    Three Months Ended June 30,
     2011
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $204          $166            $89
    Provision for loan losses             15            20             (2)
    Noninterest income                   100            37             25
    Noninterest expenses                 183           108             63
    Provision (benefit) for income
     taxes (FTE)                          44            25             20
    Net income (loss)                    $62           $50            $33
                                         ---           ---            ---
    Net credit-related charge-
     offs (recoveries)                   $37           $26             $3

    Selected average balances:
    Assets                           $14,267       $12,329         $7,081
    Loans                             14,051        12,121          6,871
    Deposits                          18,319        12,458          6,175

    Statistical data:
    Return on average assets (a)        1.28%         1.48%          1.84%
    Net interest margin (b)             4.46          5.35           5.19
    Efficiency ratio                   60.30         53.19          55.16
    ----------------                   -----         -----          -----
    Three Months Ended March 31,
     2011                            Midwest       Western         Texas
    ----------------------------     -------       -------         -----
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $203          $164            $87
    Provision for loan losses             34            11              4
    Noninterest income                   100            37             23
    Noninterest expenses                 188           109             61
    Provision (benefit) for income
     taxes (FTE)                          28            30             16
    Net income (loss)                    $53           $51            $29
                                         ---           ---            ---
    Net credit-related charge-offs       $46           $26             $8

    Selected average balances:
    Assets                           $14,307       $12,590         $7,031
    Loans                             14,104        12,383          6,824
    Deposits                          18,230        12,235          5,786

    Statistical data:
    Return on average assets (a)        1.08%         1.54%          1.65%
    Net interest margin (b)             4.49          5.37           5.17
    Efficiency ratio                   61.99         54.36          55.39
    ----------------                   -----         -----          -----
    Three Months Ended June 30,
     2010                            Midwest       Western         Texas
    ---------------------------      -------       -------         -----
    Earnings summary:
    Net interest income (expense)
     (FTE)                              $211          $163            $81
    Provision for loan losses             34            27             (1)
    Noninterest income                    97            33             23
    Noninterest expenses                 180           110             65
    Provision (benefit) for income
     taxes (FTE)                          33            21             14
    Net income (loss)                    $61           $38            $26
                                         ---           ---            ---
    Net credit-related charge-offs       $44           $47             $8

    Selected average balances:
    Assets                           $14,626       $13,006         $6,652
    Loans                             14,592        12,792          6,428
    Deposits                          17,988        11,951          5,316

    Statistical data:
    Return on average assets (a)        1.25%         1.15%          1.54%
    Net interest margin (b)             4.66          5.13           5.05
    Efficiency ratio                   58.16         56.15          62.38
    ----------------                   -----         -----          -----

    (dollar amounts in millions)   Florida   Other   International
    Three Months Ended June 30,
     2011                                   Markets
    Earnings summary:
    Net interest income (expense)
     (FTE)                             $12      $41            $19
    Provision for loan losses           11        5             (5)
    Noninterest income                   4       13              9
    Noninterest expenses                12       21              9
    Provision (benefit) for income
     taxes (FTE)                        (2)      (2)             9
    Net income (loss)                  $(5)     $30            $15
                                       ---      ---            ---
    Net credit-related charge-
     offs (recoveries)                 $15      $11            $(2)

    Selected average balances:
    Assets                          $1,534   $3,101         $1,762
    Loans                            1,565    2,823          1,690
    Deposits                           396    2,451          1,312

    Statistical data:
    Return on average assets (a)    (1.29)%    3.89%          3.33%
    Net interest margin (b)           3.14     5.88           4.40
    Efficiency ratio                 77.62    40.47          33.16
    ----------------                 -----    -----          -----
    Three Months Ended March 31,
     2011                          Florida   Other   International
    ----------------------------   -------   -----   -------------
                                            Markets
                                            -------
    Earnings summary:
    Net interest income (expense)
     (FTE)                             $11      $41            $18
    Provision for loan losses            8       (7)            (1)
    Noninterest income                   4       11              8
    Noninterest expenses                12       21              9
    Provision (benefit) for income
     taxes (FTE)                        (1)       -              6
    Net income (loss)                  $(4)     $38            $12
                                       ---      ---            ---
    Net credit-related charge-offs      $8       $9             $4

    Selected average balances:
    Assets                          $1,553   $3,242         $1,735
    Loans                            1,580    2,960          1,671
    Deposits                           367    2,298          1,328

    Statistical data:
    Return on average assets (a)    (0.93)%    4.70%          2.79%
    Net interest margin (b)           2.82     5.73           4.34
    Efficiency ratio                 80.08    42.38          34.62
    ----------------                 -----    -----          -----
    Three Months Ended June 30,
     2010                          Florida   Other   International
    ---------------------------    -------   -----   -------------
                                            Markets
                                            -------
    Earnings summary:
    Net interest income (expense)
     (FTE)                             $12      $44            $19
    Provision for loan losses           17       50             (5)
    Noninterest income                   4       15              9
    Noninterest expenses                12       21              8
    Provision (benefit) for income
     taxes (FTE)                        (5)     (16)             9
    Net income (loss)                  $(8)      $4            $16
                                       ---      ---            ---
    Net credit-related charge-offs      $7      $40             $-

    Selected average balances:
    Assets                          $1,576   $3,934         $1,655
    Loans                            1,575    3,661          1,591
    Deposits                           404    2,212          1,052

    Statistical data:
    Return on average assets (a)    (2.18)%    0.46%          3.90%
    Net interest margin (b)           2.94     4.91           4.62
    Efficiency ratio                 76.90    38.26          30.48
    ----------------                 -----    -----          -----

    (dollar amounts in millions)       Finance          Total
    Three Months Ended June 30,
     2011                              & Other
                                      Businesses
    Earnings summary:
    Net interest income (expense)
     (FTE)                                 $(139)         $392
    Provision for loan losses                  3            47
    Noninterest income                        14           202
    Noninterest expenses                      13           409
    Provision (benefit) for income
     taxes (FTE)                             (52)           42
    Net income (loss)                       $(89)          $96
                                            ----           ---
    Net credit-related charge-
     offs (recoveries)                        $-           $90

    Selected average balances:
    Assets                               $14,443       $54,517
    Loans                                     53        39,174
    Deposits                                 369        41,480

    Statistical data:
    Return on average assets (a)             N/M          0.70%
    Net interest margin (b)                  N/M          3.14
    Efficiency ratio                         N/M         69.33
    ----------------                          --         -----
    Three Months Ended March 31,
     2011                              Finance          Total
    ----------------------------       -------          -----
                                       & Other
                                       -------
                                      Businesses
                                      ----------
    Earnings summary:
    Net interest income (expense)
     (FTE)                                 $(128)         $396
    Provision for loan losses                  -            49
    Noninterest income                        24           207
    Noninterest expenses                      15           415
    Provision (benefit) for income
     taxes (FTE)                             (43)           36
    Net income (loss)                       $(76)         $103
                                            ----          ----
    Net credit-related charge-offs            $-          $101

    Selected average balances:
    Assets                               $13,317       $53,775
    Loans                                     29        39,551
    Deposits                                 354        40,598

    Statistical data:
    Return on average assets (a)             N/M          0.77%
    Net interest margin (b)                  N/M          3.25
    Efficiency ratio                         N/M         69.05
    ----------------                          --         -----
    Three Months Ended June 30,
     2010                              Finance          Total
    ---------------------------        -------          -----
                                       & Other
                                       -------
                                      Businesses
                                      ----------
    Earnings summary:
    Net interest income (expense)
     (FTE)                                 $(106)         $424
    Provision for loan losses                  4           126
    Noninterest income                        13           194
    Noninterest expenses                       1           397
    Provision (benefit) for income
     taxes (FTE)                             (31)           25
    Net income (loss)                       $(67)          $70
                                            ----           ---
    Net credit-related charge-offs            $-          $146

    Selected average balances:
    Assets                               $14,809       $56,258
    Loans                                     33        40,672
    Deposits                                 748        39,671

    Statistical data:
    Return on average assets (a)             N/M          0.50%
    Net interest margin (b)                  N/M          3.28
    Efficiency ratio                         N/M         64.47
    ----------------                          --         -----

    (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

                                           Six Months Ended June 30,
                                           -------------------------
    (dollar amounts in millions)                 2011                   2010
    ----------------------------                 ----                   ----
    Impact of Excess Liquidity on Net
     Interest Margin (FTE):
    Net interest income (FTE)               $788                   $840
    Less:
      Interest earned on excess
       liquidity (a)                           3                      5
      -------------------------              ---                    ---
    Net interest income (FTE),
     excluding excess liquidity             $785                   $835
    ---------------------------             ----                   ----

    Average earning assets               $49,743                $52,385
    Less:
      Average net unrealized gains on
        investment securities available-
         for-sale                             48                     71
        --------------------------------     ---                    ---
    Average earning assets for net
     interest margin (FTE)                49,695                 52,314
    Less:
      Excess liquidity (a)                 2,843                  3,905
      --------------------                 -----                  -----
    Average earning assets for net
     interest margin (FTE),
      excluding excess liquidity         $46,852                $48,409
      --------------------------         -------                -------

    Net interest margin (FTE)               3.19%                  3.23%
    Net interest margin (FTE),
     excluding excess liquidity             3.37                   3.47

    Impact of excess liquidity on net
     interest margin (FTE)                 (0.18)                 (0.24)
    ---------------------------------      -----                  -----

                                                                  2011
                                                                  ----
                                                 2nd Qtr    1st Qtr
                                                 -------    -------
    Impact of Excess Liquidity on Net Interest
     Margin (FTE):
    Net interest income (FTE)                       $392     $396
    Less:
      Interest earned on excess liquidity (a)          2        1
      ---------------------------------------        ---      ---
    Net interest income (FTE), excluding
     excess liquidity                               $390     $395
    ------------------------------------            ----     ----

    Average earning assets                       $50,136  $49,347
    Less:
      Average net unrealized gains on
        investment securities available-for-sale      74       22
        ----------------------------------------     ---      ---
    Average earning assets for net interest
     margin (FTE)                                 50,062   49,325
    Less:
      Excess liquidity (a)                         3,382    2,297
      --------------------                         -----    -----
    Average earning assets for net interest
     margin (FTE),
      excluding excess liquidity                 $46,680  $47,028
      --------------------------                 -------  -------

    Net interest margin (FTE)                       3.14%    3.25%
    Net interest margin (FTE), excluding
     excess liquidity                               3.35     3.39

    Impact of excess liquidity on net interest
     margin (FTE)                                  (0.21)   (0.14)
    ------------------------------------------     -----    -----

                                                                       2010
                                                                       ----
                                            4th Qtr    3rd Qtr      2nd Qtr
                                            -------    -------      -------
    Impact of Excess Liquidity on
     Net Interest Margin (FTE):
    Net interest income (FTE)               $406       $405       $424
    Less:
      Interest earned on excess
       liquidity (a)                           1          2          2
      -------------------------              ---        ---        ---
    Net interest income (FTE),
     excluding excess liquidity             $405       $403       $422
    ---------------------------             ----       ----       ----

    Average earning assets               $49,102    $50,189    $51,835
    Less:
      Average net unrealized gains on
        investment securities available-
         for-sale                            139        180         80
        --------------------------------     ---        ---        ---
    Average earning assets for net
     interest margin (FTE)                48,963     50,009     51,755
    Less:
      Excess liquidity (a)                 1,793      2,983      3,719
      --------------------                 -----      -----      -----
    Average earning assets for net
     interest margin (FTE),
      excluding excess liquidity         $47,170    $47,026    $48,036
      --------------------------         -------    -------    -------

    Net interest margin (FTE)               3.29%      3.23%      3.28%
    Net interest margin (FTE),
     excluding excess liquidity             3.41       3.42       3.51

    Impact of excess liquidity on
     net interest margin (FTE)             (0.12)     (0.19)     (0.23)
    -----------------------------          -----      -----      -----

    (a) Excess liquidity represented by interest earned on and average
    balances deposited with the FRB.

    The net interest margin (FTE), excluding excess liquidity, removes
    interest earned on balances deposited with the FRB from net interest
    income (FTE) and average balances deposited with the FRB from
    average earning assets from the numerator and denominator of the net
    interest margin (FTE) ratio, respectively. Comerica believes this
    measurement provides meaningful information to investors,
    regulators, management and others of the impact on net interest
    income and net interest margin resulting from Comerica's short-term
    investment in low yielding instruments.

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

                                  June 30,      March 31,
                                           2011         2011
                                           ----         ----
    Tier 1 Common Capital Ratio:
    Tier 1 capital (a) (b)          $6,193       $6,107
    Less:
      Trust preferred securities         -            -
      --------------------------
    Tier 1 common capital (b)       $6,193       $6,107
    -------------------------       ------       ------
    Risk-weighted assets (a) (b)   $58,790      $58,998
    Tier 1 capital ratio (b)         10.53%       10.35%
    Tier 1 common capital ratio
     (b)                             10.53        10.35
    ---------------------------      -----        -----

    Tangible Common Equity Ratio:
    Total common shareholders'
     equity                         $6,038       $5,877
    Less:
      Goodwill                         150          150
      Other intangible assets            4            5
      -----------------------
    Tangible common equity          $5,884       $5,722
    ----------------------          ------       ------
    Total assets                   $54,141      $55,017
    Less:
      Goodwill                         150          150
      Other intangible assets            4            5
      -----------------------
    Tangible assets                $53,987      $54,862
    ---------------                -------      -------
    Common equity ratio              11.15%       10.68%
    Tangible common equity ratio     10.90        10.43
    ----------------------------     -----        -----

                                  December 31,    September 30,    June 30,
                                             2010          2010         2010
                                             ----          ----         ----
    Tier 1 Common Capital Ratio:
    Tier 1 capital (a) (b)            $6,027        $5,940       $6,371
    Less:
      Trust preferred securities           -             -          495
      --------------------------         ---           ---          ---
    Tier 1 common capital (b)         $6,027        $5,940       $5,876
    -------------------------         ------        ------       ------
    Risk-weighted assets (a) (b)     $59,506       $59,608      $59,877
    Tier 1 capital ratio (b)           10.13%         9.96%       10.64%
    Tier 1 common capital ratio
     (b)                               10.13          9.96         9.81
    ---------------------------        -----          ----         ----

    Tangible Common Equity Ratio:
    Total common shareholders'
     equity                           $5,793        $5,857       $5,792
    Less:
      Goodwill                           150           150          150
      Other intangible assets              6             6            6
      -----------------------            ---           ---          ---
    Tangible common equity            $5,637        $5,701       $5,636
    ----------------------            ------        ------       ------
    Total assets                     $53,667       $55,004      $55,885
    Less:
      Goodwill                           150           150          150
      Other intangible assets              6             6            6
      -----------------------            ---           ---          ---
    Tangible assets                  $53,511       $54,848      $55,729
    ---------------                  -------       -------      -------
    Common equity ratio                10.80%        10.65%       10.36%
    Tangible common equity ratio       10.54         10.39        10.11
    ----------------------------       -----         -----        -----

    (a) Tier 1 capital and risk-weighted assets as defined by regulation.
    (b) June 30, 2011 Tier 1 capital and risk-weighted assets are estimated.

    The Tier 1 common capital ratio removes preferred stock and
    qualifying trust preferred securities from Tier 1 capital as defined
    by and calculated in conformity with bank regulations.  The tangible
    common equity removes preferred stock and the effect of intangible
    assets from capital and the effect of intangible assets from total
    assets.  Comerica believes these measurements are meaningful
    measures of capital adequacy used by investors, regulators,
    management and others to evaluate the adequacy of common equity and
    to compare against other companies in the industry.

SOURCE Comerica Incorporated