DALLAS, Oct. 16, 2013 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today reported third quarter 2013 net income of $147 million, compared to $143 million for the second quarter 2013 and $117 million for the third quarter 2012. Earnings per diluted share were 78 cents for the third quarter 2013, compared to 76 cents for the second quarter 2013 and 61 cents for the third quarter 2012.

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    (dollar amounts in       3rd         2nd         3rd
     millions, except per    Qtr         Qtr         Qtr
     share data)             '13         '13         '12
    ---------------------   ----        ----        ----

    Net interest income (a)        $412                  $414            $427

    Provision for credit
     losses                     8               13               22

    Noninterest income        214              208              197

    Noninterest expenses      417              416              449  (b)

    Provision for income
     taxes                     54               50               36


    Net income                147              143              117


    Net income attributable
     to common shares         145              141              116


    Diluted income per
     common share            0.78             0.76             0.61


    Average diluted shares
     (in millions)            187              187              191


    Tier 1 common capital
     ratio (d)              10.74%      (c)  10.43%           10.37%

    Basel III Tier 1 common
     capital ratio (d) (e)   10.4             10.1             10.0

    Tangible common equity
     ratio (d)               9.87            10.04            10.30
    ----------------------   ----            -----            -----

        (a)   Included accretion of the
              purchase discount on the
              acquired loan portfolio of $8
              million, $7 million and $15
              million in the third quarter
              2013, second quarter 2013 and
              third quarter 2012,
              respectively.

        (b)   Included restructuring expenses
              of $25 million associated with
              the 2011 acquisition of
              Sterling Bancshares, Inc.

        (c)   September 30, 2013 ratio is
              estimated.

        (d)   See Reconciliation of Non-GAAP
              Financial Measures.

        (e)   Estimated ratios based on the
              standardized approach in the
              final rule and excluding most
              elements of accumulated other
              comprehensive income (AOCI).

"Fee income growth, expense control and continued solid credit quality contributed to our 28 percent year-over-year increase in earnings per share," said Ralph W. Babb Jr., chairman and chief executive officer. "Average total loans were up $497 million, or 1 percent, on a year-over-year basis, but decreased $799 million, or 2 percent, compared to the second quarter. Loan volume in the third quarter compared to the second quarter was impacted by the continued economic uncertainty and the understandable caution of our customers, as well as seasonality in auto-dealer floor plan loans and a decline in refinance volumes impacting our mortgage warehouse business.

"Average total deposits increased $2 billion, or 4 percent, year-over-year, and $417 million, or 1 percent over second quarter, to $51.9 billion. Net interest income remained relatively stable, credit quality continued to be strong, and noninterest income grew quarter over quarter, reflecting an increase in customer-driven fee income. Our capital position continued to be a source of strength to support our growth.

"We believe our footprint is well situated in Texas, California and Michigan, and that our relationship banking strategy contributes to our continued success."

Third Quarter 2013 Compared to Third Quarter 2012

    --  Average total loans increased $497 million, or 1 percent, primarily
        reflecting an increase of $1.1 billion, or 4 percent, in commercial
        loans, partially offset by a decrease of $594 million, or 5 percent, in
        combined commercial mortgage and real estate construction loans. The
        increase in commercial loans was primarily driven by increases in
        National Dealer Services, general Middle Market and Energy, partially
        offset by a decrease in Corporate Banking.
    --  Average total deposits increased $2.0 billion, or 4 percent, primarily
        reflecting increases of $1.1 billion, or 4 percent, in interest-bearing
        deposits and $910 million, or 4 percent, in noninterest-bearing
        deposits.
    --  Net income increased by $30 million, or 25 percent, primarily as a
        result of improving credit quality reflected in lower provision for
        credit losses, higher customer-driven fees and lower noninterest
        expenses, partially offset by a decrease in net interest income. The
        decrease in net interest income was primarily due to a decrease in loan
        yields and a decrease in accretion on the acquired loan portfolio,
        partially offset by loan growth and a decrease in funding costs.

Third Quarter 2013 Compared to Second Quarter 2013

    --  Average total loans decreased $799 million, or 2 percent, to $44.1
        billion, primarily reflecting decreases of $634 million, or 2 percent,
        in commercial loans and $180 million, or 2 percent, in combined
        commercial mortgage and real estate construction loans. The decrease in
        commercial loans was primarily driven by decreases in general Middle
        Market, National Dealer Services and Mortgage Banker Finance, partially
        offset by an increase in Technology and Life Sciences. The declines
        generally reflected subdued demand due to economic uncertainty, a
        seasonal decline in auto dealer floor plan loans and a decrease in
        mortgage refinancing activity. Period-end total loans decreased $1.3
        billion to $44.2 billion, primarily reflecting a $1.3 billion decrease
        in commercial loans. The decrease in commercial loans was primarily
        driven by decreases in Mortgage Banker Finance and National Dealer
        Services.
    --  Investment securities available-for-sale decreased $413 million, or 4
        percent, to $9.4 billion on an average basis and decreased $143 million,
        or 1 percent, to $9.5 billion on period-end basis as a result of a full
        quarter impact of the decline in the fair value of the portfolio due to
        the rise in long-term rates and a slowdown in the pace of purchases to
        replace repayments.
    --  Average total deposits increased $417 million, or 1 percent, to $51.9
        billion, reflecting increases in most lines of business. Period-end
        deposits increased $1.7 billion, primarily reflecting an increase of
        $2.0 billion in noninterest-bearing deposits.
    --  Net interest income remained relatively stable at $412 million in the
        third quarter 2013, compared to $414 million in the second quarter 2013,
        as the benefit from one additional day in the third quarter and improved
        yields in the securities portfolio was more than offset by the impact of
        a decline in loan balances and lower loan yields.
    --  The provision for credit losses decreased $5 million to $8 million in
        the third quarter 2013, compared to $13 million in the second quarter
        2013, reflecting continued strong credit quality and decreases in loan
        balances.
    --  Noninterest income increased $6 million to $214 million in the third
        quarter 2013 primarily reflecting an increase in customer-driven income
        of $4 million.
    --  Noninterest expenses increased $1 million to $417 million in the third
        quarter 2013, primarily reflecting a $10 million increase in salaries
        and employee benefits expense, partially offset by a $6 million decrease
        in litigation-related expenses and a $4 million decrease in write-downs
        on other foreclosed assets.
    --  Comerica repurchased 1.7 million shares of common stock ($72 million) in
        the third quarter 2013 under the share repurchase program. Combined with
        dividends, 70 percent of net income was returned to shareholders in the
        third quarter 2013.
    --  Capital remained solid at September 30, 2013, as evidenced by an
        estimated Tier 1 common capital ratio of 10.74 percent and a tangible
        common equity ratio of 9.87 percent.

    Net Interest Income
    -------------------



    (dollar amounts      3rd Qtr           2nd Qtr            3rd Qtr
     in millions)          '13               '13                '12
    ---------------     --------          --------           --------

    Net interest
     income                          $412               $414               $427


    Net interest
     margin                 2.79%              2.83%             2.96%


    Selected average
     balances:

    Total earning
     assets                       $58,892            $58,928            $57,801

    Total loans           44,094              44,893             43,597

    Total investment
     securities            9,380              9,793             9,791

    Federal Reserve
     Bank deposits
     (excess
     liquidity)            5,156              3,968             4,160



    Total deposits        51,865              51,448             49,845

    Total
     noninterest-
     bearing deposits     22,379              22,076             21,469
    -----------------     ------              ------             ------

    --  Net interest income of $412 million in the third quarter 2013 decreased
        $2 million compared to the second quarter 2013.
        --  Interest on loans decreased by $7 million, primarily reflecting a
            decrease in loan volumes, including volume shifts in business mix
            ($6 million); lower loan yields due to a decline in LIBOR ($1
            million); and other loan portfolio dynamics, reflecting positive
            credit migration and other shifts in portfolio mix ($5 million);
            partially offset by one additional day in the third quarter ($4
            million) and an increase in the accretion of the purchase discount
            on the acquired loan portfolio ($1 million).
        --  Interest on mortgage-backed investment securities increased net
            interest income by $2 million, primarily as a result of improvement
            in yields due to slowing prepayment speeds ($4 million), partially
            offset by a decrease in average balances ($2 million).
        --  Interest on other short-term investments increased net interest
            income by $1 million as a result of an increase in balances
            deposited with the Federal Reserve Bank.
        --  A decrease in funding costs increased net interest income by $2
            million, primarily reflecting lower deposit pricing and a shift in
            the deposit mix, as well as a lower interest expense as a result of
            a full-quarter impact from the maturity of debt in the second
            quarter 2013.
    --  The net interest margin of 2.79 percent decreased 4 basis points
        compared to the second quarter 2013. The decrease in net interest margin
        was primarily due to an increase in excess liquidity (-5 basis points)
        and lower loan yields (-3 basis points), partially offset by the impact
        of yield improvements on mortgage-backed securities (+3 basis points)
        and lower funding costs (+1 basis point).
    --  Average earning assets remained stable at $58.9 billion in the third
        quarter 2013, compared to the second quarter 2013, as an increase of
        $1.2 billion in excess liquidity offset decreases of $799 million in
        average loans and $413 million in average investment securities
        available-for-sale.

Noninterest Income

Noninterest income increased $6 million to $214 million for the third quarter 2013, compared to $208 million for the second quarter 2013. Customer-driven fee income increased $4 million and noncustomer-driven income increased $2 million. The increase in customer-driven fee income was primarily due to an increase in commercial lending fees of $6 million. The increase in noncustomer-driven income was primarily due to a $5 million increase in warrant income, partially offset by a decrease in income recognized from our third-party credit card provider reflecting a change in the timing of the recognition of incentives from annually to quarterly in the third quarter.

Noninterest Expenses

Noninterest expenses of $417 million in the third quarter 2013 remained relatively stable compared to the second quarter 2013, as a $10 million increase in salaries and employee benefits expense was largely offset by a $6 million decrease in litigation-related expenses as well as a $4 million decrease in write-downs on other foreclosed assets. The increase in salaries and employee benefits reflected one additional day in the third quarter 2013 and year-to-date adjustments to incentive compensation based on favorable performance relative to peers.

Credit Quality

"Credit quality continued to be strong resulting in an $8 million provision," said Babb. "Net charge-offs increased slightly from their low level, while nonperforming assets and watch list loans declined."

    (dollar amounts in millions)        3rd        2nd        3rd
                                        Qtr        Qtr        Qtr
                                        '13        '13        '12
    ---------------------------        ----       ----       ----

    Net credit-related charge-offs            $19             $17       $43

    Net credit-related charge-offs/
     Average total loans                0.18%          0.15%      0.39%


    Provision for credit losses                $8             $13       $22


    Nonperforming loans (a)              459            471        692

    Nonperforming assets (NPAs) (a)      478            500        755

    NPAs/Total loans and foreclosed
     property                           1.08%          1.10%      1.71%


    Loans past due 90 days or more and
     still accruing                           $25             $20       $36


    Allowance for loan losses            604            613        647

    Allowance for credit losses on
     lending-related commitments (b)      34             36         35
                                         ---            ---        ---

    Total allowance for credit losses    638            649        682


    Allowance for loan losses/Period-
     end total loans                    1.37%          1.35%      1.46%

    Allowance for loan losses/
     Nonperforming loans                 131            130         94
    --------------------------           ---            ---        ---

        (a)   Excludes loans acquired
              with credit impairment.

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

    --  Nonaccrual loans decreased $12 million, to $437 million at September 30,
        2013, compared to $449 million at June 30, 2013.
    --  Internal watch list loans decreased $210 million, to $2.7 billion at
        September 30, 2013, compared to $2.9 billion at June 30, 2013.
    --  During the third quarter 2013, $50 million of borrower relationships
        over $2 million were transferred to nonaccrual status, an increase of
        $13 million from the second quarter 2013.

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $64.7 billion and $7.0 billion, respectively, at September 30, 2013, compared to $62.9 billion and $6.9 billion, respectively, at June 30, 2013. The $1.8 billion increase in total assets primarily reflected an increase of $2.9 billion in excess liquidity, partially offset by a decrease in loans of $1.3 billion.

There were approximately 184 million common shares outstanding at September 30, 2013. Diluted weighted average shares of 187 million at September 30, 2013 were unchanged compared to June 30, 2013, as the impact of the repurchase of $72 million of common stock (1.7 million shares) under the share repurchase program during the third quarter 2013 was offset by the impact of an increase in share dilution from options and warrants due to an increase in Comerica's stock price. Combined with the dividend of $0.17 per share, share repurchases under the share repurchase program and dividends returned 70 percent of third quarter 2013 net income to shareholders.

Comerica's tangible common equity ratio was 9.87 percent at September 30, 2013, a decrease of 17 basis points from June 30, 2013. The estimated Tier 1 common capital ratio increased 31 basis points, to 10.74 percent at September 30, 2013, from June 30, 2013. The estimated Tier 1 common ratio under fully phased-in Basel III capital rules and excluding most elements of AOCI was 10.4 percent percent at September 30, 2013.

Full-Year and Fourth Quarter 2013 Outlook

Management expectations for full-year 2013 compared to full-year 2012 have not changed from the previously provided outlook, with the exception of customer-driven fees, which are expected to be modestly higher based on strong third quarter results.

For fourth quarter 2013, management expects the following, assuming a continuation of the current slow growing economic environment:

    --  Average loans for the fourth quarter 2013 are expected to be stable
        compared to third quarter 2013, reflecting auto-dealer floor plan loans
        rebounding from seasonal low along with continued decline in mortgage
        warehouse lending and economic uncertainty impacting demand.
    --  Net interest income is expected to be lower for the fourth quarter 2013,
        compared to third quarter 2013, due to the continued impact from the low
        rate environment and a decrease in purchase accounting accretion.
    --  The provision for credit losses for the fourth quarter 2013 is expected
        to remain low, similar to the levels in previous 2013 quarters.
    --  Customer-driven noninterest income for the fourth quarter 2013 is
        expected to be relatively stable compared to third quarter 2013, while
        noncustomer-driven noninterest income is expected to be lower.
    --  Fourth quarter 2013 noninterest expense is expected to be slightly lower
        compared to third quarter 2013, reflecting continued tight expense
        control.

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 reported as a segment. The financial results below are based on the internal business unit structure of the Corporation and methodologies in effect at September 30, 2013 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses third quarter 2013 results compared to second quarter 2013.

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

    (dollar amounts in      3rd Qtr        2nd Qtr         3rd Qtr
     millions)                '13            '13             '12
    ------------------     --------       --------        --------

    Business Bank            $209    91%       $207  85%         $207  88%

    Retail Bank           6           3    11         5      10         4

    Wealth Management    15           6    24        10      18         8
    -----------------   ---         ---   ---       ---     ---       ---

                        230         100%  242       100%    235       100%

    Finance            (87)              (98)            (100)

    Other (a)             4               (1)             (18)
    --------            ---              ---              ---

         Total               $147             $143             $117
         -----                ---              ---              ---

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

    Business Bank


    (dollar amounts in     3rd           2nd           3rd
     millions)             Qtr           Qtr           Qtr
                           '13           '13           '12
    ------------------    ----          ----          ----

    Net interest income
     (FTE)                       $368         $372          $380

    Provision for credit
     losses                  (1)          10           15

    Noninterest income       89           80           76

    Noninterest expenses    153          147          145

    Net income              209          207          207


    Net credit-related
     charge-offs              9           11           27


    Selected average
     balances:

    Assets               35,298       36,017       34,861

    Loans                34,178       34,955       33,856

    Deposits             26,284       25,987       25,142
    --------             ------        ------        ------

    --  Average loans decreased $777 million, primarily reflecting decreases in
        general Middle Market, National Dealer Services and Mortgage Banker
        Finance, partially offset by an increase in Technology and Life
        Sciences.
    --  Average deposits increased $297 million, primarily reflecting increases
        in general Middle Market and Commercial Real Estate.
    --  Net interest income decreased $4 million, primarily due to a decrease in
        average loans and lower loan yields, partially offset by the benefit
        provided by one additional day in the quarter and higher purchase
        accounting accretion.
    --  The provision for credit losses decreased $11 million, primarily
        reflecting improved credit quality and decreases in loan balances.
    --  Noninterest income increased $9 million, primarily due to an increase in
        commercial lending fees and income from principal investments and
        warrants.
    --  Noninterest expenses increased $6 million, primarily due to an increase
        in salaries expense and corporate overhead expenses, partially offset by
        a decrease in write-downs on other foreclosed assets.

    Retail Bank


    (dollar amounts in     3rd          2nd           3rd
     millions)             Qtr          Qtr           Qtr
                           '13          '13           '12
    ------------------    ----         ----          ----

    Net interest income
     (FTE)                      $151         $154          $161

    Provision for credit
     losses                  10           5            6

    Noninterest income       45          46           41

    Noninterest expenses    177         178          181

    Net income                6          11           10


    Net credit-related
     charge-offs              7           4           13


    Selected average
     balances:

    Assets                5,967       5,962        5,964

    Loans                 5,285       5,271        5,265

    Deposits             21,257      21,241       20,682
    --------             ------       ------        ------

    --  Average loans increased $14 million, primarily due to an increase in
        Small Business, partially offset by a decrease in Retail Banking.
    --  Average deposits increased $16 million, primarily due to an increase in
        Small Business, largely offset by a decrease in Retail Banking.
    --  Net interest income decreased $3 million, primarily due to decreases in
        funds transfer pricing (FTP) credits and purchase accounting accretion,
        partially offset by the benefit provided by one additional day in the
        quarter.
    --  The provision for credit losses increased $5 million, primarily due to
        an increase in specific reserves for individually evaluated loans.
    --  Noninterest income remained relatively stable, primarily due to a
        decrease in incentive payments received from Comerica's third-party
        credit card provider, partially offset by a decrease in net securities
        losses.

    Wealth Management


    (dollar amounts in    3rd        2nd         3rd
     millions)            Qtr        Qtr         Qtr
                          '13        '13         '12
    ------------------   ----       ----        ----

    Net interest income
     (FTE)                     $45        $46        $47

    Provision for credit
     losses                  1        (3)         4

    Noninterest income      61        65         62

    Noninterest expenses    81        77         77

    Net income              15        24         18


    Net credit-related
     charge-offs             3         2          3


    Selected average
     balances:

    Assets               4,789     4,828      4,566

    Loans                4,631     4,667      4,476

    Deposits             3,782     3,701      3,667
    --------             -----     -----      -----

    --  Average loans decreased $36 million, primarily due to a decrease in
        Private Banking.
    --  Average deposits increased $81 million, primarily due to an increase in
        Private Banking.
    --  The provision for credit losses increased $4 million, primarily due to
        an increase in specific reserves pertaining to a small number of
        individually evaluated loans.
    --  Noninterest income decreased $4 million, primarily reflecting decreases
        in fiduciary income, investment banking fees and other small decreases
        in several categories.
    --  Noninterest expenses increased $4 million, primarily due to an increase
        in salaries expense and corporate overhead expenses.

Geographic Market Segments

Comerica also provides market segment results for three primary geographic markets: Michigan, California and Texas. In addition to the three primary geographic markets, Other Markets is also reported as a market segment. Other Markets includes Florida, Arizona, the International Finance division and businesses that have a significant presence outside of the three primary geographic markets. The tables below present the geographic market results based on the methodologies in effect at September 30, 2013 and are presented on a fully taxable equivalent (FTE) basis.

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

    (dollar amounts in  3rd Qtr            2nd Qtr           3rd Qtr
     millions)          '13                '13               '12
    ------------------ --------           --------          --------

    Michigan                         $73           32%                 $77       32%        $71      30%

    California               71              31                 65           27       67         29

    Texas                    35              15                 46           19       44         19

    Other Markets            51              22                 54           22       53         22
    -------------           ---             ---                ---          ---      ---        ---

                            230             100%               242          100%     235        100%

    Finance & Other
     (a)                    (83)                       (99)                (118)
    ---------------         ---                         ---                ----

         Total                      $147                             $143                $117
         -----                       ---                              ---                 ---

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

    --  Average loans decreased $322 million and $237 million in Michigan and
        Texas, respectively, and increased $90 million in California. Decreases
        in Michigan and Texas primarily reflected decreases in Middle Market
        loans. The increase in California was primarily due to increases in
        Commercial Real Estate and Private Banking.
    --  Average deposits increased $306 million in Michigan primarily due to an
        increase in general Middle Market, partially offset by a decrease in
        Retail Banking. In California, average deposits decreased $111 million
        primarily reflecting a decrease in Corporate Banking, partially offset
        by an increase in Commercial Real Estate. The increase in Texas of $104
        million was primarily due to an increase in Corporate Banking, partially
        offset by a decrease in general Middle Market.
    --  Credit quality improved in all geographic markets resulting in decreases
        to the provision for credit losses in Michigan and California. The
        increase in the provision for credit losses in Texas was primarily due
        to an increase in specific reserves pertaining to a small number of
        individually evaluated loans.

    Michigan Market


    (dollar amounts in     3rd           2nd           3rd
     millions)             Qtr           Qtr           Qtr
                           '13           '13           '12
    ------------------    ----          ----          ----

    Net interest income
     (FTE)                       $186         $187          $193

    Provision for credit
     losses                  (8)          (4)           2

    Noninterest income       88           88           95

    Noninterest expenses    167          161          175

    Net income               73           77           71


    Net credit-related
     charge-offs              1            4           12


    Selected average
     balances:

    Assets               13,744       14,022       13,785

    Loans                13,276       13,598       13,475

    Deposits             20,465       20,159       19,628
    --------             ------        ------        ------

    California Market


    (dollar amounts in     3rd           2nd           3rd
     millions)             Qtr           Qtr           Qtr
                           '13           '13           '12
    ------------------    ----          ----          ----

    Net interest income
     (FTE)                       $171         $173          $176

    Provision for credit
     losses                  (3)           7            6

    Noninterest income       42           36           33

    Noninterest expenses    101          100           98

    Net income               71           65           67


    Net credit-related
     charge-offs              8           12           11


    Selected average
     balances:

    Assets               14,245       14,155       13,171

    Loans                14,002       13,912       12,915

    Deposits             14,567       14,671       14,964
    --------             ------        ------        ------

    Texas Market


    (dollar amounts in     3rd          2nd           3rd
     millions)             Qtr          Qtr           Qtr
                           '13          '13           '12
    ------------------    ----         ----          ----

    Net interest income
     (FTE)                      $129         $131         $138

    Provision for credit
     losses                  17           6           10

    Noninterest income       35          34           30

    Noninterest expenses     92          89           89

    Net income               35          46           44


    Net credit-related
     charge-offs              4          (3)           7


    Selected average
     balances:

    Assets               10,642      10,886       10,324

    Loans                 9,942      10,179        9,585

    Deposits             10,298      10,187        9,941
    --------             ------       ------        -----

Conference Call and Webcast

Comerica will host a conference call to review third quarter 2013 financial results at 7 a.m. CT Wednesday, October 16, 2013. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 60015337). The call and supplemental financial information can also be accessed via Comerica's "Investor Relations" page at www.comerica.com. A replay of the Webcast can 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 a reconciliation 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," "contemplates," "feels," "expects," "estimates," "seeks," "strives," "plans," "intends," "outlook," "forecast," "position," "target," "mission," "assume," "achievable," "potential," "strategy," "goal," "aspiration," "opportunity," "initiative," "outcome," "continue," "remain," "maintain," "on course," "trend," "objective," "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; changes in monetary and fiscal policies, including the interest rate policies of the Federal Reserve Board; volatility and disruptions in global capital and credit markets; changes in Comerica's credit rating; the interdependence of financial service companies; changes in regulation or oversight; unfavorable developments concerning credit quality; any future acquisitions or divestitures; the effects of more stringent capital or liquidity requirements; declines or other changes in the businesses or industries of Comerica's customers; the implementation of Comerica's strategies and business models; Comerica's ability to utilize technology to efficiently and effectively develop, market and deliver new products and services; operational difficulties, failure of technology infrastructure or information security incidents; changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing; competitive product and pricing pressures among financial institutions within Comerica's markets; changes in customer behavior; 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 or determinations; the effectiveness of methods of reducing risk exposures; the effects of terrorist activities and other hostilities; the effects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods; changes in accounting standards and the critical nature of Comerica's accounting policies. 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. In particular, please refer to "Item 1A. Risk Factors" beginning on page 13 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2012 and on page 68 of the Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2013. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this news release or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

    CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)

    Comerica Incorporated and Subsidiaries


                                                         Three Months Ended                  Nine Months Ended
                                                         ------------------                  -----------------

                                              September 30,    June 30,   September 30,        September 30,

    (in millions,
     except per
     share data)                                          2013      2013               2012        2013         2012
    -------------                                         ----      ----               ----        ----         ----

    PER COMMON SHARE AND COMMON
     STOCK DATA

    Diluted net
     income                                              $0.78                  $0.76             $0.61                     $2.23            $2.00

    Cash dividends
     declared                                  0.17                 0.17               0.15                  0.51            0.40

    Common
     shareholders'
     equity (at
     period end)                              37.94                37.32              37.01

    Tangible
     common equity
     (at period
     end) (a)                                 34.38                33.79              33.56


    Average
     diluted
     shares (in
     thousands)                             187,104              186,998            191,492               187,180         193,991
    -----------                             -------              -------            -------               -------        -------

    KEY RATIOS

    Return on
     average
     common
     shareholders'
     equity                                    8.50%                8.23%              6.67%                 8.14%              7.46%

    Return on
     average
     assets                                    0.92                 0.90               0.75                  0.89            0.84

    Tier 1 common
     capital ratio
     (a) (b)                                  10.74                10.43              10.37

    Tier 1 risk-
     based capital
     ratio (b)                                10.74                10.43              10.37

    Total risk-
     based capital
     ratio (b)                                13.44                13.29              13.69

    Leverage ratio
     (b)                                      10.88                10.81              10.78

    Tangible
     common equity
     ratio (a)                                 9.87                10.04              10.30
    --------------                             ----                -----              -----

    AVERAGE BALANCES

    Commercial
     loans                                             $27,759                $28,393           $26,700                   $28,069          $25,810

    Real estate construction
     loans:

    Commercial
     Real Estate
     business line
     (c)                                      1,263                1,218                999                 1,199           1,029

    Other business
     lines (d)                                  259                  235                390                   231             391
                                                ---                  ---                ---                   ---            ---

         Total real
          estate
          construction
          loans                               1,522                1,453              1,389                 1,430           1,420

    Commercial mortgage loans:

    Commercial
     Real Estate
     business line
     (c)                                      1,714                1,798              2,140                 1,782           2,367

    Other business
     lines (d)                                7,229                7,394              7,530                 7,395           7,584
                                              -----                -----              -----                 -----          -----

         Total
          commercial
          mortgage
          loans                               8,943                9,192              9,670                 9,177           9,951

    Lease
     financing                                  839                  855                852                   850             873

    International
     loans                                    1,252                1,262              1,302                 1,265           1,257

    Residential
     mortgage
     loans                                    1,642                1,602              1,488                 1,600           1,498

    Consumer loans                            2,137                2,136              2,196                 2,142          2,225
                                              -----                -----              -----                 -----          -----

    Total loans                              44,094               44,893             43,597                44,533         43,034


    Earning assets                           58,892               58,928             57,801                58,810         56,883

    Total assets                             63,660               63,709             62,984                63,710         62,008


    Noninterest-
     bearing
     deposits                                22,379               22,076             21,469                21,991          20,415

    Interest-
     bearing
     deposits                                29,486               29,372             28,376                29,364          28,532
                                             ------               ------             ------                ------         ------

    Total deposits                           51,865               51,448             49,845                51,355         48,947


    Common
     shareholders'
     equity                                   6,923                6,982              7,045                 6,953           6,996
    --------------                            -----                -----              -----                 -----          -----

    NET INTEREST INCOME

    Net interest
     income (fully
     taxable
     equivalent
     basis)                                               $413                   $415              $428                    $1,244           $1,306

    Fully taxable
     equivalent
     adjustment                                   1                    1                  1                     2               2

    Net interest
     margin (fully
     taxable
     equivalent
     basis)                                    2.79%                2.83%              2.96%                 2.83%              3.08%
    --------------                             ----                 ----               ----                  ----           ----

    CREDIT QUALITY

    Nonaccrual
     loans                                                $437                   $449              $665

    Reduced-rate
     loans                                       22                   22                 27
                                                ---                  ---                ---

    Total
     nonperforming
     loans (e)                                  459                  471                692

    Foreclosed
     property                                    19                   29                 63
                                                ---                  ---                ---

    Total
     nonperforming
     assets (e)                                 478                  500                755


    Loans past due
     90 days or
     more and
     still
     accruing                                    25                   20                 36


    Gross loan
     charge-offs                                 39                   35                 59                         $112              $185

    Loan
     recoveries                                  20                   18                 16                    52              52
                                                ---                  ---                ---                   ---            ---

    Net loan
     charge-offs                                 19                   17                 43                    60             133


    Allowance for
     loan losses                                604                  613                647

    Allowance for
     credit losses
     on lending-
     related
     commitments                                 34                   36                 35
                                                ---                  ---                ---

    Total
     allowance for
     credit losses                              638                  649                682


    Allowance for
     loan losses
     as a
     percentage of
     total loans                               1.37%                1.35%              1.46%

    Net loan
     charge-offs
     as a
     percentage of
     average total
     loans (f)                                 0.18                 0.15               0.39                  0.18%              0.41%

    Nonperforming
     assets as a
     percentage of
     total loans
     and
     foreclosed
     property (e)                              1.08                 1.10               1.71

    Allowance for
     loan losses
     as a
     percentage of
     total
     nonperforming
     loans                                      131                  130                 94
    --------------                              ---                  ---                ---

    (a)     See Reconciliation of Non-
            GAAP Financial Measures.

    (b)     September 30, 2013 ratios are
            estimated.

    (c)     Primarily loans to real
            estate developers.

    (d)     Primarily loans secured by
            owner-occupied real estate.

    (e)     Excludes loans acquired with
            credit-impairment.

    (f)     Lending-related commitment
            charge-offs were zero in
            all periods presented.

     CONSOLIDATED BALANCE SHEETS

     Comerica Incorporated and Subsidiaries


                                           September 30,   June 30,       December 31,     September 30,

    (in millions, except
     share data)                                    2013         2013                2012           2012
    --------------------                            ----         ----                ----           ----

                                            (unaudited)   (unaudited)                    (unaudited)

    ASSETS

    Cash and due from
     banks                                                     $1,384           $1,016                      $1,395            $933


    Federal funds sold                                 -                  31                         100               -

    Interest-bearing
     deposits with banks                           5,704               2,878                       3,039            3,005

    Other short-term
     investments                                     106                 119                         125              146


    Investment securities
     available-for-sale                            9,488               9,631                      10,297           10,569


    Commercial loans                              27,897              29,186                      29,513           27,460

    Real estate
     construction loans                            1,552               1,479                       1,240            1,392

    Commercial mortgage
     loans                                         8,785               9,007                       9,472            9,559

    Lease financing                                  829                 843                         859              837

    International loans                            1,286               1,209                       1,293            1,277

    Residential mortgage
     loans                                         1,650               1,611                       1,527            1,495

    Consumer loans                                 2,152               2,124                       2,153            2,174
    --------------                                 -----               -----                       -----            -----

         Total loans                              44,151              45,459                      46,057           44,194

    Less allowance for
     loan losses                                    (604)              (613)                        (629)            (647)
    ------------------                              ----                ----                        ----             ----

         Net loans                                43,547              44,846                      45,428           43,547


    Premises and equipment                           604                 604                         622              625

    Accrued income and
     other assets                                  3,837               3,822                       4,063            4,175
    ------------------                             -----               -----                       -----            -----

         Total assets                                         $64,670          $62,947                     $65,069         $63,000
         ------------                                         -------          -------                     -------         -------


    LIABILITIES AND SHAREHOLDERS' EQUITY

    Noninterest-bearing
     deposits                                                 $23,896          $21,870                     $23,279         $21,753


    Money market and
     interest-bearing
     checking deposits                            21,697              21,677                      21,273           20,397

    Savings deposits                               1,645               1,677                       1,606            1,589

    Customer certificates
     of deposit                                    5,180               5,594                       5,531            5,742

    Foreign office time
     deposits                                        491                 437                         502              486
    -------------------                              ---                 ---                         ---              ---

         Total interest-
          bearing deposits                        29,013              29,385                      28,912           28,214
         -----------------                        ------              ------                      ------           ------

         Total deposits                           52,909              51,255                      52,191           49,967


    Short-term borrowings                            226                 131                         110               63

    Accrued expenses and
     other liabilities                             1,001               1,049                       1,106            1,146

    Medium- and long-
     term debt                                     3,565               3,601                       4,720            4,740
    -----------------                              -----               -----                       -----            -----

         Total liabilities                        57,701              56,036                      58,127           55,916


    Common stock - $5 par value:

    Authorized - 325,000,000 shares

    Issued -228,164,824
     shares                                        1,141               1,141                       1,141            1,141

    Capital surplus                                2,171               2,160                       2,162            2,153

    Accumulated other
     comprehensive loss                             (541)              (538)                        (413)            (253)

    Retained earnings                              6,239               6,127                       5,931            5,831

    Less cost of common
     stock in treasury -
     44,483,659 shares at
     9/30/13, 42,999,083
     shares at 6/30/13,
     39,889,610 shares at
     12/31/12 and
     36,790,174 shares at
     9/30/12                                      (2,041)             (1,979)                      (1,879)         (1,788)
    ---------------------                         ------              ------                      ------           ------

         Total shareholders'
          equity                                   6,969               6,911                       6,942            7,084
         -------------------                       -----               -----                       -----            -----

         Total liabilities and
          shareholders' equity                                $64,670          $62,947                     $65,069         $63,000
         ---------------------                                -------          -------                     -------         -------

    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)

    Comerica Incorporated and Subsidiaries


                                         Three Months                 Nine Months
                                             Ended                       Ended

                                       September 30,             September 30,
                                       -------------             -------------

    (in
     millions,
     except
     per
     share
     data)                           2013      2012             2013  2012
    ----------                       ----      ----             ----  ----

    INTEREST INCOME

    Interest
     and fees
     on loans                               $381           $400             $1,159       $1,219

    Interest
     on
     investment
     securities                        54             57               159           179

    Interest
     on
     short-
     term
     investments                        4              3                10             9
    ------------                      ---            ---               ---           ---

    Total
     interest
     income                           439            460             1,328         1,407

    INTEREST EXPENSE

    Interest
     on
     deposits                          13             17                43            54

    Interest
     on
     medium-
     and
     long-
     term
     debt                              14             16                43            49
    --------                          ---            ---               ---           ---

    Total
     interest
     expense                           27             33                86           103
    ---------                         ---            ---               ---           ---

    Net
     interest
     income                           412            427             1,242         1,304

    Provision
     for
     credit
     losses                             8             22                37            63
    ---------                         ---            ---               ---           ---

    Net
     interest
     income
     after
     provision
     for
     credit
     losses                           404            405             1,205         1,241

    NONINTEREST
     INCOME

    Service
     charges
     on
     deposit
     accounts                          53             53               161           162

    Fiduciary
     income                            41             39               128           116

     Commercial
     lending
     fees                              28             22                71            71

    Letter of
     credit
     fees                              17             19                49            54

    Card fees                          20             16                55            48

    Foreign
     exchange
     income                             9              9                27            29

    Bank-
     owned
     life
     insurance                         12             10                31            30

    Brokerage
     fees                               5              5                14            14

    Net
     securities
     gains
     (losses)                           1             -                (1)           11

    Other
     noninterest
     income                            28             24                87            79
    ------------                      ---            ---               ---           ---

    Total
     noninterest
     income                           214            197               622           614

    NONINTEREST
     EXPENSES

    Salaries                          196            192               566           582

    Employee
     benefits                          59             61               185           181
    ---------                         ---            ---               ---           ---

    Total
     salaries
     and
     employee
     benefits                         255            253               751           763

    Net
     occupancy
     expense                           41             40               119           121

    Equipment
     expense                           15             17                45            50

    Outside
     processing
     fee
     expense                           31             27                89            79

    Software
     expense                           22             23                66            67

    Merger
     and
     restructuring
     charges                            -             25                -            33

    FDIC
     insurance
     expense                            9              9                26            29

     Advertising
     expense                            6              7                18            21

    Other
     real
     estate
     expense                            1              2                 3             6

    Other
     noninterest
     expenses                          37             46               132           161
    ------------                      ---            ---               ---           ---

    Total
     noninterest
     expenses                         417            449             1,249         1,330
    ------------                      ---            ---             -----         -----

    Income
     before
     income
     taxes                            201            153               578           525

    Provision
     for
     income
     taxes                             54             36               154           134
    ---------                         ---            ---               ---           ---

    NET
     INCOME                           147            117               424           391

    Less
     income
     allocated
     to
     participating
     securities                         2              1                 6             4
    --------------                    ---            ---               ---           ---

    Net
     income
     attributable
     to
     common
     shares                                 $145           $116               $418         $387
    -------------                           ----           ----               ----         ----

    Earnings per
     common share:

    Basic                                  $0.80          $0.61              $2.28        $2.00

    Diluted                          0.78           0.61              2.23          2.00


     Comprehensive
     income                           144            165               296           494


    Cash
     dividends
     declared
     on
     common
     stock                             31             29                95            78

    Cash
     dividends
     declared
     per
     common
     share                           0.17           0.15              0.51          0.40
    ----------                       ----           ----              ----          ----

    CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)

    Comerica Incorporated and Subsidiaries


                                             Third     Second     First     Fourth    Third                      Third Quarter 2013 Compared
                                                                                                                             To:


                                            Quarter    Quarter   Quarter  Quarter  Quarter             Second Quarter                  Third Quarter
                                                                                                                   2013                               2012

    (in millions,
     except per
     share data)                               2013         2013     2013      2012     2012          Amount    Percent          Amount   Percent
    -------------                              ----         ----     ----      ----     ----          ------    -------          ------   -------

    INTEREST INCOME

    Interest and
     fees on loans                                    $381                  $388               $390              $398             $400                   $(7)       (2)%        $(19) (5)%

    Interest on
     investment
     securities                                  54                    52                 53                55               57                     2                 6    (3)         (3)

    Interest on
     short-term
     investments                                  4                     3                  3                 3                3                     1                25     1           9
    ------------                                ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    Total interest
     income                                     439                   443                446               456              460                    (4)               (1) (21)          (4)

    INTEREST EXPENSE

    Interest on
     deposits                                    13                    15                 15                16               17                    (2)               (7)   (4)        (23)

    Interest on
     medium- and
     long-term debt                              14           14              15          16          16                 -           -             (2)        (13)
    ---------------                             ---          ---             ---         ---         ---               ---         ---            ---          ---

    Total interest
     expense                                     27                    29                 30                32               33                    (2)               (5)   (6)        (18)
    --------------                              ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    Net interest
     income                                     412          414             416         424         427               (2)           -            (15)          (3)

    Provision for
     credit losses                                8                    13                 16                16               22                    (5)              (42) (14)         (64)
    --------------                              ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    Net interest
     income after
     provision for
     credit losses                              404                   401                400               408              405                     3                 1    (1)         -

    NONINTEREST INCOME

    Service charges
     on deposit
     accounts                                    53           53              55          52          53                 -           -              -            -

    Fiduciary income                             41                    44                 43                42               39                    (3)               (4)    2           6

    Commercial
     lending fees                                28                    22                 21                25               22                     6                24     6          27

    Letter of credit
     fees                                        17                    16                 16                17               19                     1                 1    (2)        (12)

    Card fees                                    20                    18                 17                17               16                     2                 4     4          20

    Foreign exchange
     income                                       9            9               9           9           9                 -           -              -            -

    Bank-owned life
     insurance                                   12                    10                  9                 9               10                     2                22     2          23

    Brokerage fees                                5            4               5           5           5                 1           -              -            -

    Net securities
     gains (losses)                               1           (2)              -           1           -                 3         N/M              1          N/M

    Other
     noninterest
     income                                      28                    34                 25                27               24                    (6)              (10)    4          20
    ------------                                ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    Total
     noninterest
     income                                     214                   208                200               204              197                     6                 3    17           9

    NONINTEREST EXPENSES

    Salaries                                    196                   182                188               196              192                    14                 8     4           3

    Employee
     benefits                                    59                    63                 63                59               61                    (4)               (5)   (2)         (3)
    ---------                                   ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    Total salaries
     and employee
     benefits                                   255                   245                251               255              253                    10                 5     2           2

    Net occupancy
     expense                                     41                    39                 39                42               40                     2                 2     1          -

    Equipment
     expense                                     15           15              15          15          17                 -           -             (2)          (8)

    Outside
     processing fee
     expense                                     31                    30                 28                28               27                     1                10     4          22

    Software expense                             22           22              22          23          23                 -           -             (1)          (5)

    Merger and
     restructuring
     charges                                      -            -               -           2          25                 -           -            (25)         N/M

    FDIC insurance
     expense                                      9                     8                  9                 9                9                     1                10     -          -

    Advertising
     expense                                      6            6               6           6           7                 -           -             (1)        (15)

    Other real
     estate expense                               1            1               1           3           2                 -           -             (1)        (49)

    Other
     noninterest
     expenses                                    37                    50                 45                44               46                   (13)              (26)   (9)        (20)
    ------------                                ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    Total
     noninterest
     expenses                                   417                   416                416               427              449                     1                 1  (32)          (7)
    ------------                                ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    Income before
     income taxes                               201                   193                184               185              153                     8                 4    48          31

    Provision for
     income taxes                                54                    50                 50                55               36                     4                 7    18          47
    -------------                               ---                   ---                ---               ---              ---                   ---               ---   ---         ---

    NET INCOME                                  147                   143                134               130              117                     4                 2    30          25

    Less income
     allocated to
     participating
     securities                                   2            2               2           2           1                 -           -              1           45
    --------------                              ---          ---             ---         ---         ---               ---         ---            ---          ---

    Net income
     attributable to
     common shares                                    $145                  $141               $132              $128             $116                    $4          2%         $29   25%
    ----------------                                  ----                  ----               ----              ----             ----                   ---        ---          ---  ---

    Earnings per common
     share:

    Basic                                            $0.80                 $0.77              $0.71             $0.68            $0.61                 $0.03          4%       $0.19   31%

    Diluted                                    0.78                  0.76               0.70              0.68             0.61                  0.02                 3  0.17          28


    Comprehensive
     income (loss)                              144           15             137         (30)        165               129         N/M            (21)        (13)


    Cash dividends
     declared on
     common stock                                31                    32                 32                28               29                    (1)               (1)    2           9

    Cash dividends
     declared per
     common share                              0.17         0.17            0.17        0.15        0.15                 -           -           0.02           13
    --------------                             ----         ----            ----        ----        ----               ---         ---           ----          ---

    N/M - Not Meaningful

    ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
     (unaudited)

    Comerica Incorporated and
     Subsidiaries


                                                           2013                2012
                                                           ----                ----

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


     Balance
     at
     beginning
     of
     period                             $613               $617       $629               $647 $667


     Loan
     charge-
     offs:

    Commercial                      20            19         21         42           19

     Real
     estate
     construction:

          Commercial
          Real
          Estate
          business
          line
          (a)                        1             2          -          1            2

          Other
          business
          lines
          (b)                        -             -          -          -           -
          --------                 ---           ---        ---        ---         ---

               Total
               real
               estate
               construction          1             2          -          1            2

     Commercial
     mortgage:

          Commercial
          Real
          Estate
          business
          line
          (a)                        6             2          1          5           12

          Other
          business
          lines
          (b)                        3             7         12          6           13
          --------                 ---           ---        ---        ---          ---

               Total
               commercial
               mortgage              9             9         13         11           25

    International                    -             -          -          -            1

     Residential
     mortgage                        1             1          1          2            6

    Consumer                         8             4          3          4            6
    --------                       ---           ---        ---        ---          ---

          Total
          loan
          charge-
          offs                      39            35         38         60           59


     Recoveries
     on
     loans
     previously
     charged-
     off:

    Commercial                       8            11          6         13            7

     Real
     estate
     construction                    2             1          1          1            3

     Commercial
     mortgage                        7             3          5          6            5

     Lease
     financing                       1             -          -          -           -

    International                    -             -          -          1           -

     Residential
     mortgage                        1             1          1          1           -

    Consumer                         1             2          1          1            1
    --------                       ---           ---        ---        ---          ---

          Total
          recoveries                20            18         14         23           16
          ----------               ---           ---        ---        ---          ---

     Net
     loan
     charge-
     offs                           19            17         24         37           43

     Provision
     for
     loan
     losses                         10            13         12         19           23
     ---------                     ---           ---        ---        ---          ---

     Balance
     at
     end
     of
     period                             $604               $613       $617               $629 $647
     -------                             ---                ---        ---                ---  ---


     Allowance
     for
     loan
     losses
     as
     a
     percentage
     of
     total
     loans                        1.37%         1.35%      1.37%      1.37%        1.46%


     Net
     loan
     charge-
     offs
     as
     a
     percentage
     of
     average
     total
     loans                        0.18          0.15       0.21       0.34         0.39
     ----------                   ----          ----       ----       ----         ----

    (a)     Primarily charge-offs
            of loans to real
            estate 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


                                           2013                2012
                                           ----                ----

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


     Balance
     at
     beginning
     of
     period                          $36        $36       $32           $35      $36

     Add:
     Provision
     for
     credit
     losses
     on
     lending-
     related
     commitments                 (2)         -          4           (3)      (1)
     -----------                ---        ---        ---          ---      ---

     Balance
     at
     end
     of
     period                          $34        $36       $36           $32      $35
     -------                          --         --        --            --       --


     Unfunded
     lending-
     related
     commitments
     sold                             $2         $1        $2         $   -    $   -
     -----------                      --         --        --        -- ---   -- ---

    NONPERFORMING ASSETS (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                  2013                       2012
                                                                  ----                       ----

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


    SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS

    Nonaccrual loans:

    Business loans:

         Commercial                           $107                $102              $102               $103 $154

         Real estate
          construction:

         Commercial Real
          Estate business
          line (a)                        24            26          30                30           45

              Other business
               lines (b)                   1             2           3                 3            6
              --------------             ---           ---         ---               ---          ---

                   Total real estate
                    construction          25            28          33                33           51

         Commercial mortgage:

              Commercial Real
               Estate business
               line (a)                   67            69          86                94          137

         Other business
          lines (b)                      139           157         178               181          219
         --------------                  ---           ---         ---               ---          ---

                   Total commercial
                    mortgage             206           226         264               275          356

         Lease financing                   -             -           -                 3            3

         Total nonaccrual
          business loans                 338           356         399               414          564

    Retail loans:

         Residential
          mortgage                        63            62          65                70           69

         Consumer:

              Home equity                 34            28          28                31           28

              Other consumer               2             3           2                 4            4
              --------------             ---           ---         ---               ---          ---

                   Total consumer         36            31          30                35           32
                   --------------        ---           ---         ---               ---          ---

         Total nonaccrual
          retail loans                    99            93          95               105          101
         ----------------                ---           ---         ---               ---          ---

    Total nonaccrual
     loans                               437           449         494               519          665

    Reduced-rate
     loans                                22            22          21                22           27
    ------------                         ---           ---         ---               ---          ---

    Total
     nonperforming
     loans (c)                           459           471         515               541          692

    Foreclosed
     property                             19            29          40                54           63
    ----------                           ---           ---         ---               ---          ---

    Total
     nonperforming
     assets (c)                               $478                $500              $555               $595 $755
    --------------                             ---                 ---               ---                ---  ---


    Nonperforming
     loans as a
     percentage of
     total loans                        1.04%         1.04%       1.14%             1.17%        1.57%

    Nonperforming
     assets as a
     percentage of
     total loans and
     foreclosed
     property                           1.08          1.10        1.23              1.29         1.71

    Allowance for
     loan losses as a
     percentage of
     total
     nonperforming
     loans                               131           130         120               116           94

    Loans past due 90
     days or more and
     still accruing                            $25                 $20               $25                $23  $36
    -----------------                          ---                 ---               ---                ---  ---


    ANALYSIS OF NONACCRUAL
     LOANS

    Nonaccrual loans
     at beginning of
     period                                   $449                $494              $519               $665 $719

    Loans transferred
     to nonaccrual
     (d)                                  50            37          34                36           35

    Nonaccrual
     business loan
     gross charge-
     offs (e)                            (25)          (25)        (34)              (54)        (46)

    Nonaccrual
     business loans
     sold (f)                            (17)           (9)         (7)              (48)        (20)

    Payments/Other
     (g)                                 (20)          (48)        (18)              (80)        (23)
    --------------                       ---           ---         ---               ---          ---

    Nonaccrual loans
     at end of period                         $437                $449              $494               $519 $665
    -----------------                          ---                 ---               ---                ---  ---

    (a) Primarily loans to real estate developers.

    (b) Primarily loans secured by owner-occupied real estate.

    (c) Excludes loans acquired with credit impairment.

    (d) Based on an analysis of nonaccrual loans with book balances greater than $2 million.

    (e) Analysis of gross loan charge-offs:

    Nonaccrual
     business loans                            $25                 $25               $34                $54  $46

    Performing watch
     list loans                            5             5           -                 -            1

    Consumer and
     residential
     mortgage loans                        9             5           4                 6           12
                                         ---           ---         ---               ---          ---

         Total gross loan
          charge-offs                          $39                 $35               $38                $60  $59
                                               ---                 ---               ---                ---  ---

    (f) Analysis of loans sold:

          Nonaccrual
           business loans                      $17                  $9                $7                $48  $20

          Performing watch
           list loans                     31            40          12                24           42
                                         ---           ---         ---               ---          ---

         Total loans sold                      $48                 $49               $19                $72  $62
                                               ---                 ---               ---                ---  ---

    (g) 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


                                                            Nine Months Ended
                                                            -----------------

                                         September 30, 2013                       September 30, 2012
                                         ------------------                       ------------------

                                Average              Average          Average            Average

    (dollar
     amounts in
     millions)                  Balance   Interest     Rate           Balance   Interest    Rate
    -----------                 -------    -------     ----           -------  -------     ----


    Commercial
     loans                                $28,069                $688      3.28%                     $25,810         $673   3.48%

    Real estate
     construction
     loans                        1,430                    43              3.98               1,420               47        4.48

    Commercial
     mortgage
     loans                        9,177                   271              3.95               9,951              337        4.51

    Lease
     financing                      850                    21              3.22                 873               19        2.92

     International
     loans                        1,265                    35              3.73               1,257               35        3.73

    Residential
     mortgage
     loans                        1,600                    50              4.13               1,498               52        4.66

    Consumer
     loans                        2,142                    53              3.32               2,225               57        3.44
    --------                      -----                   ---              ----               -----              ---        ----

    Total loans
     (a)                         44,533                 1,161              3.49              43,034            1,220        3.79


    Mortgage-
     backed
     securities
     available-
     for-sale                     9,339                   158              2.29               9,317              177        2.60

    Other
     investment
     securities
     available-
     for-sale                       390                     1              0.48                 486                3        0.78
    -----------                     ---                   ---              ----                 ---              ---        ----

    Total
     investment
     securities
     available-
     for-sale                     9,729                   159              2.21               9,803              180        2.51


    Interest-
     bearing
     deposits
     with banks
     (b)                          4,433                     9              0.26               3,908                8        0.26

    Other
     short-
     term
     investments                    115                     1              1.38                 138                1        1.80
    ------------                    ---                   ---              ----                 ---              ---        ----

    Total
     earning
     assets                      58,810                 1,330              3.03              56,883            1,409        3.32


    Cash and
     due from
     banks                          993                                                967

    Allowance
     for loan
     losses                        (627)                                              (707)

    Accrued
     income and
     other
     assets                       4,534                                              4,865
                                  -----                                            -----

    Total
     assets                               $63,710                                           $62,008
                                          -------                                          -------


    Money
     market and
     interest-
     bearing
     checking
     deposits                             $21,594          22              0.13                      $20,577      26        0.18

    Savings
     deposits                     1,654                    -              0.03               1,589                1        0.06

    Customer
     certificates
     of deposit                   5,603                    19              0.44               5,993               25        0.54

    Foreign
     office
     time
     deposits                       513                     2              0.54                 373                2        0.64
    ---------                       ---                   ---              ----                 ---              ---        ----

    Total
     interest-
     bearing
     deposits                    29,364                    43              0.19              28,532               54        0.25


    Short-term
     borrowings                     189                    -              0.07                  78               -        0.12

    Medium-
     and long-
     term debt                    4,109                    43              1.42               4,846               49        1.36
    ----------                    -----                   ---              ----               -----              ---        ----

    Total
     interest-
     bearing
     sources                     33,662                    86              0.34              33,456              103        0.41


     Noninterest-
     bearing
     deposits                    21,991                                             20,415

    Accrued
     expenses
     and other
     liabilities                  1,104                                              1,141

    Total
     shareholders'
     equity                       6,953                                              6,996
                                  -----                                            -----

    Total
     liabilities
     and
     shareholders'
     equity                               $63,710                                             $62,008
                                          -------                                          -------


    Net interest
     income/rate
     spread (FTE)                                      $1,244              2.69                               $1,306        2.91
                                                       ------                                                ------


    FTE adjustment                                         $2                                                   $2


    Impact of net
     noninterest-
     bearing sources of
     funds                                               0.14                                           0.17
    -------------------                                 ----                                         ----

    Net interest margin
     (as a percentage
     of average earning
     assets) (FTE) (a)
     (b)                                                   2.83%                                              3.08%
    -------------------                                 ----                                         ----

       (a)   Accretion of the purchase
             discount on the acquired
             loan portfolio of $26
             million and $58 million
             in the nine months ended
             September 30, 2013 and
             2012, respectively,
             increased the net
             interest margin by 6
             basis points and 14 basis
             points in each respective
             period.

       (b)   Excess liquidity,
             represented by average
             balances deposited with
             the Federal Reserve Bank,
             reduced the net interest
             margin by 20 basis points
             in both the nine months
             ended September 30, 2013
             and 2012.

    ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                                        Three Months Ended
                                                                                        ------------------

                                                    September 30, 2013                           June 30, 2013                          September 30, 2012
                                                    ------------------                           -------------                          ------------------

                                            Average              Average         Average            Average           Average           Average

    (dollar
     amounts in
     millions)                              Balance   Interest    Rate           Balance   Interest    Rate            Balance   Interest   Rate
    -----------                             -------    -------    ----           -------  -------     ----            -------  -------   ----


    Commercial
     loans                                            $27,759               $226      3.25%                     $28,393             $233        3.29%                 $26,700           $227    3.38%

    Real estate
     construction
     loans                                    1,522                    15             3.78               1,453                 15               4.04            1,389              15           4.36

    Commercial
     mortgage
     loans                                    8,943                    88             3.90               9,192                 88               3.86            9,670             106           4.34

    Lease
     financing                                  839                     7             3.21                 855                  7               3.22              852               4           2.04

     International
     loans                                    1,252                    12             3.76               1,262                 12               3.81            1,302              12           3.77

    Residential
     mortgage
     loans                                    1,642                    17             3.98               1,602                 16               4.04            1,488              17           4.67

    Consumer
     loans                                    2,137                    17             3.27               2,136                 18               3.30            2,196              19           3.44
    --------                                  -----                   ---             ----               -----                ---               ----            -----             ---           ----

    Total loans
     (a)                                     44,094                   382             3.44              44,893                389               3.47           43,597             400           3.66


    Mortgage-
     backed
     securities
     available-
     for-sale                                 8,989                    54             2.41               9,400                 51               2.22            9,360              57           2.46

    Other
     investment
     securities
     available-
     for-sale                                   391                    -             0.43                 393                  1               0.52              431               1           0.86
    -----------                                 ---                  ---             ----                 ---                ---               ----              ---             ---           ----

    Total
     investment
     securities
     available-
     for-sale                                 9,380                    54             2.32               9,793                 52               2.15            9,791              58           2.38


    Interest-
     bearing
     deposits
     with banks
     (b)                                      5,308                     4             0.26               4,125                  3               0.26            4,276               3           0.26

    Other
     short-
     term
     investments                                110                    -             0.77                 117                 -               1.05              137              -           1.88
    ------------                                ---                  ---             ----                 ---               ---               ----              ---            ---           ----

    Total
     earning
     assets                                  58,892                   440             2.97              58,928                444               3.02           57,801             461           3.19


    Cash and
     due from
     banks                                    1,027                                               972                                            971

    Allowance
     for loan
     losses                                    (622)                                             (625)                                          (673)

    Accrued
     income and
     other
     assets                                   4,363                                             4,434                                          4,885
                                              -----                                           -----                                         -----

    Total
     assets                                           $63,660                                          $63,709                                                $62,984
                                                      -------                                         -------                                              -------


    Money
     market and
     interest-
     bearing
     checking
     deposits                                         $21,894           7             0.13                      $21,544         8               0.13                  $20,483       8           0.17

    Savings
     deposits                                 1,680                    -             0.04               1,658                 -               0.03            1,618              -           0.04

    Customer
     certificates
     of deposit                               5,384                     6             0.41               5,685                  6               0.43            5,894               8           0.52

    Foreign
     office
     time
     deposits                                   528                    -             0.48                 485                  1               0.60              381               1           0.71
    ---------                                   ---                  ---             ----                 ---                ---               ----              ---             ---           ----

    Total
     interest-
     bearing
     deposits                                29,486                    13             0.18              29,372                 15               0.19           28,376              17           0.24


    Short-term
     borrowings                                 249                    -             0.06                 193                 -               0.07               89              -           0.12

    Medium-
     and long-
     term debt                                3,590                    14             1.54               4,044                 14               1.43            4,745              16           1.35
    ----------                                -----                   ---             ----               -----                ---               ----            -----             ---           ----

    Total
     interest-
     bearing
     sources                                 33,325                    27             0.32              33,609                 29               0.34           33,210              33           0.40


     Noninterest-
     bearing
     deposits                                22,379                                            22,076                                         21,469

    Accrued
     expenses
     and other
     liabilities                              1,033                                             1,042                                          1,260

    Total
     shareholders'
     equity                                   6,923                                             6,982                                          7,045
                                              -----                                           -----                                         -----

    Total
     liabilities
     and
     shareholders'
     equity                                           $63,660                                            $63,709                                                       $62,984
                                                      -------                                         -------                                              -------


    Net interest
     income/rate
     spread (FTE)                                                    $413             2.65                                   $415               2.68                             $428           2.79
                                                                     ----                                                   ----                                               ----


    FTE adjustment                                                     $1                                                    $1                                                $1


    Impact of net
     noninterest-
     bearing sources of
     funds                                                           0.14                                          0.15                                          0.17
    -------------------                                             ----                                        ----                                       ----

    Net interest margin
     (as a percentage
     of average earning
     assets) (FTE) (a)
     (b)                                                               2.79%                                             2.83%                                                      2.96%
    -------------------                                             ----                                        ----                                       ----

       (a)   Accretion of the purchase
             discount on the acquired
             loan portfolio of $8
             million, $7 million and
             $15 million in the third
             and second quarters of
             2013 and the third
             quarter of 2012,
             respectively, increased
             the net interest margin
             by 5 basis points, 5
             basis points and 10 basis
             points in each respective
             period.

       (b)   Excess liquidity,
             represented by average
             balances deposited with
             the Federal Reserve Bank,
             reduced the net interest
             margin by 24 basis points
             and 18 basis points in
             the third and second
             quarters of 2013 and 21
             basis points in the third
             quarter of 2012,
             respectively.

    CONSOLIDATED STATISTICAL DATA (unaudited)

    Comerica Incorporated and Subsidiaries


                                  September 30,   June 30,  March 31,   December 31,   September 30,

    (in
     millions,
     except per
     share
     data)                                   2013     2013        2013      2012             2012
    -----------                              ----     ----        ----      ----             ----


    Commercial loans:

    Floor plan                             $2,869               $3,241              $2,963                  $2,939  $2,276

    Other                       25,028              25,945      25,545              26,574         25,184
    -----                       ------              ------      ------              ------         ------

         Total
          commercial
          loans                 27,897              29,186      28,508              29,513         27,460

    Real estate construction
     loans:

    Commercial
     Real
     Estate
     business
     line (a)                    1,283               1,223       1,185               1,049          1,003

    Other
     business
     lines (b)                     269                 256         211                 191            389
    ----------                     ---                 ---         ---                 ---            ---

         Total real
          estate
          construction
          loans                  1,552               1,479       1,396               1,240          1,392

    Commercial mortgage
     loans:

    Commercial
     Real
     Estate
     business
     line (a)                    1,592               1,743       1,812               1,873          2,020

    Other
     business
     lines (b)                   7,193               7,264       7,505               7,599          7,539
    ----------                   -----               -----       -----               -----          -----

         Total
          commercial
          mortgage
          loans                  8,785               9,007       9,317               9,472          9,559

    Lease
     financing                     829                 843         853                 859            837

     International
     loans                       1,286               1,209       1,269               1,293          1,277

    Residential
     mortgage
     loans                       1,650               1,611       1,568               1,527          1,495

    Consumer loans:

    Home equity                  1,501               1,474       1,498               1,537          1,570

    Other
     consumer                      651                 650         658                 616            604
    ---------                      ---                 ---         ---                 ---            ---

         Total
          consumer
          loans                  2,152               2,124       2,156               2,153          2,174
         ---------               -----               -----       -----               -----          -----

         Total loans                      $44,151              $45,459             $45,067                 $46,057 $44,194
         -----------                      -------                -----             -------                 ------- -------


    Goodwill                                 $635                 $635                $635                    $635    $635

    Core
     deposit
     intangible                     17                  18          19                  20             23

    Loan
     servicing
     rights                          1                   2           2                   2              2


    Tier 1
     common
     capital
     ratio (c)
     (d)                         10.74%              10.43%      10.37%              10.14%         10.37%

    Tier 1
     risk-
     based
     capital
     ratio (c)                   10.74               10.43       10.37               10.14          10.37

    Total risk-
     based
     capital
     ratio (c)                   13.44               13.29       13.41               13.15          13.69

    Leverage
     ratio (c)                   10.88               10.81       10.75               10.57          10.78

    Tangible
     common
     equity
     ratio (d)                    9.87               10.04        9.86                9.76          10.30


    Common
     shareholders'
     equity per
     share of
     common
     stock                                 $37.94               $37.32              $37.41                  $36.87  $37.01

    Tangible
     common
     equity per
     share of
     common
     stock (d)                   34.38               33.79       33.90               33.38          33.56

    Market value per share
     for the quarter:

    High                         43.49               40.44       36.99               32.14          33.38

    Low                          38.56               33.55       30.73               27.72          29.32

    Close                        39.31               39.83       35.95               30.34          31.05


    Quarterly ratios:

    Return on
     average
     common
     shareholders'
     equity                       8.50%               8.23%       7.68%               7.36%          6.67%

    Return on
     average
     assets                       0.92                0.90        0.84                0.81           0.75

    Efficiency
     ratio (e)                   66.66               66.43       67.58               68.08          71.68


    Number of
     banking
     centers                       484                 484         487                 487            490


    Number of
     employees
     -full
     time
     equivalent                  8,918               8,929       9,001               9,035          9,079
    -----------                  -----               -----       -----               -----          -----

    (a)     Primarily loans to real
            estate developers.

    (b)     Primarily loans secured by
            owner-occupied real estate.

    (c)     September 30, 2013 ratios are
            estimated.

    (d)     See Reconciliation of Non-
            GAAP Financial Measures.

      (e)   Noninterest expenses as a
            percentage of the sum of net
            interest income (FTE) and
            noninterest income excluding
            net securities gains.

    PARENT COMPANY ONLY BALANCE SHEETS (unaudited)

    Comerica Incorporated


                                           September 30,  December 31,        September 30,

    (in millions, except
     SHARE data)                                    2013                 2012     2012
    --------------------                            ----                 ----     ----


    ASSETS

    Cash and due from
     subsidiary bank                                                      $36                   $2            $13

    Short-term
     investments with
     subsidiary bank                                 480                           431                418

    Other short-term
     investments                                      92                            88                 88

    Investment in
     subsidiaries,
     principally banks                             7,008                         7,045              7,200

    Premises and equipment                             4                             4                  4

    Other assets                                     134                           150                150
    ------------                                     ---                           ---                ---

          Total assets                                                 $7,754               $7,720         $7,873
          ------------                                                 ------               ------         ------


    LIABILITIES AND
     SHAREHOLDERS' EQUITY

    Medium- and long-
     term debt                                                           $620                 $629           $632

    Other liabilities                                165                           149                157
    -----------------                                ---                           ---                ---

          Total liabilities                          785                           778                789


    Common stock -$5 par
     value:

        Authorized -
         325,000,000 shares

        Issued -228,164,824
         shares                                    1,141                         1,141              1,141

    Capital surplus                                2,171                         2,162              2,153

    Accumulated other
     comprehensive loss                             (541)                         (413)              (253)

    Retained earnings                              6,239                         5,931              5,831

    Less cost of common
     stock in treasury -
     44,483,659 shares at
     9/30/13, 39,889,610
     shares at 12/31/12
     and 36,790,174 shares
     at 9/30/12                                   (2,041)                      (1,879)             (1,788)
    ----------------------                        ------                        ------             ------

          Total shareholders'
           equity                                  6,969                         6,942              7,084
          -------------------                      -----                         -----              -----

          Total liabilities and
           shareholders' equity                                        $7,754               $7,720         $7,873
          ---------------------                                        ------               ------         ------

    CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                           Accumulated

                                         Common Stock                       Other                                    Total
                                        ------------

                                       Shares              Capital   Comprehensive  Retained    Treasury     Shareholders'

    (in millions,
     except per
     share data)                     Outstanding  Amount    Surplus        Loss      Earnings     Stock           Equity
    -------------                   -----------   ------    -------        ----      --------     -----           ------


    BALANCE AT
     DECEMBER 31,
     2011                                  197.3          $1,141             $2,170                     $(356)            $5,546       $(1,633)         $6,868

    Net income                                 -       -            -             -          391                 -           391

    Other
     comprehensive
     income, net of
     tax                                       -       -            -           103            -                 -           103

    Cash dividends
     declared on
     common stock
     ($0.40 per
     share)                                    -       -            -             -          (78)                -           (78)

    Purchase of
     common stock                           (7.1)      -                -                    -                     -           (215)            (215)

    Net issuance of
     common stock
     under employee
     stock plans                             1.2       -               (48)                   -                    (28)             62             (14)

    Share-based
     compensation                              -       -           29             -            -                 -            29

    Other                                      -       -            2             -            -               (2)             -
    -----                                    ---     ---          ---           ---          ---               ---           ---

    BALANCE AT
     SEPTEMBER 30,
     2012                                  191.4          $1,141             $2,153                     $(253)            $5,831       $(1,788)         $7,084
    --------------                         -----          ------             ------                     -----             ------       -------          ------


    BALANCE AT
     DECEMBER 31,
     2012                                  188.3          $1,141             $2,162                     $(413)            $5,931       $(1,879)         $6,942

    Net income                                 -       -            -             -          424                 -           424

    Other
     comprehensive
     loss, net of
     tax                                       -       -            -          (128)           -                 -          (128)

    Cash dividends
     declared on
     common stock
     ($0.51 per
     share)                                    -       -            -             -          (95)                -           (95)

    Purchase of
     common stock                           (5.8)      -                -                    -                     -           (218)            (218)

    Net issuance of
     common stock
     under employee
     stock plans                             1.2       -               (18)                   -                    (21)             56              17

    Share-based
     compensation                              -       -           27             -            -                 -            27

    BALANCE AT
     SEPTEMBER 30,
     2013                                  183.7          $1,141             $2,171                     $(541)            $6,239       $(2,041)         $6,969
    --------------                         -----          ------             ------                     -----             ------       -------          ------

     BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)

     Comerica Incorporated and Subsidiaries



    (dollar
     amounts in
     millions)                     Business           Retail         Wealth

    Three
     Months
     Ended
     September
     30, 2013                         Bank             Bank       Management        Finance           Other                Total
    ----------                        ----             ----       ----------        -------           -----                -----

    Earnings summary:

    Net
     interest
     income
     (expense)
     (FTE)                                 $368              $151               $45               $(159)               $8               $413

    Provision
     for credit
     losses                         (1)                10                1                  -                 (2)                8

    Noninterest
     income                         89                 45               61                  18                  1               214

    Noninterest
     expenses                      153                177               81                   2                  4               417

    Provision
     (benefit)
     for income
     taxes
     (FTE)                          96                  3                9                (56)                  3                55
                                   ---                ---              ---                 ---                ---

    Net income
     (loss)                                $209                $6               $15                $(87)               $4               $147
                                           ----               ---               ---                ----               ---               ----

    Net credit-
     related
     charge-
     offs                                    $9                $7                $3          -                 -                        $19


    Selected average
     balances:

    Assets                              $35,298            $5,967            $4,789             $11,097            $6,509            $63,660

    Loans                       34,178              5,285            4,631                  -                 -             44,094

    Deposits                    26,284              21,257            3,782                 319                223             51,865


    Statistical data:

    Return on
     average
     assets (a)                   2.38%              0.12%            1.21%               N/M               N/M              0.92%

    Efficiency
     ratio (b)                   33.50              90.27            77.22                N/M               N/M             66.66
                                 -----              -----            -----                ---               ---             -----


                                   Business           Retail         Wealth

    Three
     Months
     Ended June
     30, 2013                         Bank             Bank       Management        Finance           Other                Total
    -----------                       ----             ----       ----------        -------           -----                -----

    Earnings summary:

    Net
     interest
     income
     (expense)
     (FTE)                                 $372              $154               $46               $(165)               $8               $415

    Provision
     for credit
     losses                         10                  5               (3)                 -                  1                13

    Noninterest
     income                         80                 46               65                  15                  2               208

    Noninterest
     expenses                      147                178               77                   3                 11               416

    Provision
     (benefit)
     for income
     taxes
     (FTE)                          88                  6               13                (55)                 (1)               51
                                   ---                ---              ---                 ---                ---

    Net income
     (loss)                                $207               $11               $24                $(98)              $(1)              $143
                                           ----               ---               ---                ----               ---               ----

    Net credit-
     related
     charge-
     offs                                   $11                $4                $2          -                 -                        $17


    Selected average
     balances:

    Assets                              $36,017            $5,962            $4,828             $11,514            $5,388            $63,709

    Loans                       34,955              5,271            4,667                  -                 -             44,893

    Deposits                    25,987              21,241            3,701                 283                236             51,448


    Statistical data:

    Return on
     average
     assets (a)                   2.30%              0.20%            2.00%               N/M               N/M              0.90%

    Efficiency
     ratio (b)                   32.41              87.98            69.86                N/M               N/M             66.43
    ----------                   -----              -----            -----                ---               ---             -----


                                   Business           Retail         Wealth

    Three
     Months
     Ended
     September
     30, 2012                         Bank             Bank       Management        Finance           Other                Total
    ----------                        ----             ----       ----------        -------           -----                -----

    Earnings summary:

    Net
     interest
     income
     (expense)
     (FTE)                                 $380              $161               $47               $(170)       10                          $428

    Provision
     for credit
     losses                         15                  6                4                  -                 (3)               22

    Noninterest
     income                         76                 41               62                  14                  4               197

    Noninterest
     expenses                      145                181               77                   3                 43               449

    Provision
     (benefit)
     for income
     taxes
     (FTE)                          89                  5               10                (59)                 (8)               37
                                   ---                ---              ---                 ---                ---               ---

    Net income
     (loss)                                $207               $10               $18               $(100)             $(18)              $117
                                           ----               ---               ---               -----              ----               ----

    Net credit-
     related
     charge-
     offs                                   $27               $13                $3          -                 -                        $43


    Selected average
     balances:

    Assets                              $34,861            $5,964            $4,566             $11,873            $5,720            $62,984

    Loans                       33,856              5,265            4,476                  -                 -             43,597

    Deposits                    25,142              20,682            3,667                 181                173             49,845


    Statistical data:

    Return on
     average
     assets (a)                   2.38%              0.19%            1.59%               N/M               N/M              0.75%

    Efficiency
     ratio (b)                   31.67              89.07            71.04                N/M               N/M             71.68
    ----------                   -----              -----            -----                ---               ---             -----

       (a)   Return on average assets
             is calculated based on
             the greater of average
             assets or average
             liabilities and
             attributed equity.

       (b)   Noninterest expenses as
             a percentage of the sum
             of net interest income
             (FTE) and noninterest
             income excluding net
             securities gains.

    FTE - Fully Taxable Equivalent

    N/M - Not Meaningful

     MARKET SEGMENT FINANCIAL RESULTS (unaudited)

     Comerica Incorporated and Subsidiaries



    (dollar amounts in
     millions)                                                                        Other

                                                                                                Finance
                                                                                                 & Other
    Three
     Months
     Ended
     September
     30, 2013                      Michigan       California      Texas                                                            Total

                                                                                 Markets
    ---                                                                                                                  ---

    Earnings summary:

    Net
     interest
     income
     (expense)
     (FTE)                                 $186             $171           $129             $78                $(151)              $413

    Provision
     for credit
     losses                         (8)              (3)            17                4                  (2)                 8

    Noninterest
     income                         88               42             35               30                  19                214

    Noninterest
     expenses                      167              101             92               51                   6                417

    Provision
     (benefit)
     for income
     taxes
     (FTE)                          42               44             20                2                (53)                 55
                                   ---              ---            ---              ---                 ---                ---

    Net income
     (loss)                                 $73              $71            $35             $51                 $(83)              $147
                                            ---              ---            ---             ---                 ----               ----

    Net credit-
     related
     charge-
     offs                                    $1               $8             $4              $6           $        -                $19


    Selected average
     balances:

    Assets                              $13,744          $14,245        $10,642          $7,423              $17,606            $63,660

    Loans                       13,276            14,002          9,942            6,874                  -              44,094

    Deposits                    20,465            14,567          10,298            5,993                 542              51,865


    Statistical data:

    Return on
     average
     assets (a)                   1.38%            1.84%          1.21%            2.73%               N/M               0.92%

    Efficiency
     ratio (b)                   60.89            47.37          56.52            47.65                N/M              66.66
    ----------                   -----            -----          -----            -----                ---              -----


                                                                                 Other          Finance
                                                                                 Markets         & Other
    Three
     Months
     Ended June
     30, 2013                      Michigan       California      Texas                                               Total
    -----------                    --------        --------       -----                                            -----

    Earnings summary:

    Net
     interest
     income
     (expense)
     (FTE)                                 $187             $173           $131             $81                $(157)              $415

    Provision
     for credit
     losses                         (4)               7              6                3                   1                 13

    Noninterest
     income                         88               36             34               33                  17                208

    Noninterest
     expenses                      161              100             89               52                  14                416

    Provision
     (benefit)
     for income
     taxes
     (FTE)                          41               37             24                5                (56)                 51
                                   ---              ---            ---              ---                 ---                ---

    Net income
     (loss)                                 $77              $65            $46             $54                 $(99)              $143
                                            ---              ---            ---             ---                 ----               ----

    Net credit-
     related
     charge-
     offs                                    $4              $12            $(3)             $4           $        -                $17


    Selected average
     balances:

    Assets                              $14,022          $14,155        $10,886          $7,744              $16,902            $63,709

    Loans                       13,598            13,912          10,179            7,204                  -              44,893

    Deposits                    20,159            14,671          10,187            5,912                 519              51,448


    Statistical data:

    Return on
     average
     assets (a)                   1.47%            1.65%          1.62%            2.79%               N/M               0.90%

    Efficiency
     ratio (b)                   58.17            47.73          53.39            46.04                N/M              66.43
    ----------                   -----            -----          -----            -----                ---              -----


                                                                                 Other          Finance
                                                                                 Markets         & Other
    Three
     Months
     Ended
     September
     30, 2012                      Michigan       California      Texas                                                            Total
    ----------                     --------        --------       -----                                            -----

    Earnings summary:

    Net
     interest
     income
     (expense)
     (FTE)                                 $193             $176           $138             $81                $(160)              $428

    Provision
     for credit
     losses                          2                6             10                7                  (3)                22

    Noninterest
     income                         95               33             30               21                  18                197

    Noninterest
     expenses                      175               98             89               41                  46                449

    Provision
     (benefit)
     for income
     taxes
     (FTE)                          40               38             25                1                (67)                 37
                                   ---              ---            ---              ---                 ---                ---

    Net income
     (loss)                                 $71              $67            $44             $53                $(118)              $117
                                            ---              ---            ---             ---                -----               ----

    Net credit-
     related
     charge-
     offs                                   $12              $11             $7             $13           $        -                $43


    Selected average
     balances:

    Assets                              $13,785          $13,171        $10,324          $8,111              $17,593            $62,984

    Loans                       13,475            12,915          9,585            7,622                  -              43,597

    Deposits                    19,628            14,964          9,941            4,958                 354              49,845


    Statistical data:

    Return on
     average
     assets (a)                   1.39%            1.69%          1.62%            2.53%               N/M               0.75%

    Efficiency
     ratio (b)                   60.06            46.68          52.96            41.78                N/M              71.68
    ----------                   -----            -----          -----            -----                ---              -----

          (a)   Return on average assets
                is calculated based on
                the greater of average
                assets or average
                liabilities and
                attributed equity.

          (b)   Noninterest expenses as
                a percentage of the sum
                of net interest income
                (FTE) and noninterest
                income excluding net
                securities gains.

    FTE - Fully Taxable Equivalent

    N/M - Not Meaningful

    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)

    Comerica Incorporated and Subsidiaries


                                  September 30,    June 30,   March 31,   December 31,   September 30,

    (dollar
     amounts in
     millions)                               2013      2013         2013      2012             2012
    -----------                              ----      ----         ----      ----             ----


    Tier 1 Common Capital
     Ratio:

    Tier 1 and
     Tier 1
     common
     capital
     (a) (b)                               $6,863                 $6,800              $6,748                  $6,705  $6,685
    ----------                             ------                 ------              ------                  ------  ------


    Risk-
     weighted
     assets (a)
     (b)                                  $63,917                $65,220             $65,099                 $66,115 $64,486
    -----------                           -------                  -----             -------                 ------- -------


    Tier 1 and
     Tier 1
     common
     risk-
     based
     capital
     ratio (b)                   10.74%               10.43%       10.37%              10.14%         10.37%


    Basel III Tier 1 Common
     Capital Ratio:

    Tier 1
     common
     capital
     (b)                                   $6,863                 $6,800              $6,748                  $6,705  $6,685

    Basel III
     adjustments
     (c)                             -                    -           (1)                (39)           (17)
    ------------                   ---                  ---          ---                 ---            ---

    Basel III
     Tier 1
     common
     capital
     (c)                         6,863                6,800        6,747               6,666          6,668
    ---------                    -----                -----        -----               -----          -----


    Risk-
     weighted
     assets (a)
     (b)                                  $63,917                $65,220             $65,099                 $66,115 $64,486

    Basel III
     adjustments
     (c)                         2,295                2,091        1,996               1,854          2,313
                                 -----                -----        -----               -----          -----

    Basel III
     risk-
     weighted
     assets (c)                           $66,212                $67,311             $67,095                 $67,969 $66,799
    -----------                           -------                  -----             -------                 ------- -------


    Tier 1
     common
     capital
     ratio (b)                    10.7%                10.4%        10.4%               10.1%          10.4%

    Basel III
     Tier 1
     common
     capital
     ratio (c)                    10.4                 10.1         10.1                 9.8           10.0
    ----------                    ----                 ----         ----                 ---           ----


    Tangible Common Equity
     Ratio:

    Common
     shareholders'
     equity                                $6,969                 $6,911              $6,988                  $6,942  $7,084

    Less:

    Goodwill                       635                  635          635                 635            635

    Other
     intangible
     assets                         18                   20           21                  22             25
                                   ---                  ---          ---                 ---            ---

    Tangible
     common
     equity                                $6,316                 $6,256              $6,332                  $6,285  $6,424
    --------                               ------                 ------              ------                  ------  ------


    Total
     assets                               $64,670                $62,947             $64,885                 $65,069 $63,000

    Less:

    Goodwill                       635                  635          635                 635            635

    Other
     intangible
     assets                         18                   20           21                  22             25
                                   ---                  ---          ---                 ---            ---

    Tangible
     assets                               $64,017                $62,292             $64,229                 $64,412 $62,340
    --------                              -------                  -----             -------                 ------- -------


    Common
     equity
     ratio                       10.78%               10.98%       10.77%              10.67%         11.24%

    Tangible
     common
     equity
     ratio                        9.87                10.04         9.86                9.76          10.30
    --------                      ----                -----         ----                ----          -----


    Tangible Common Equity
     per Share of Common
     Stock:

    Common
     shareholders'
     equity                                $6,969                 $6,911              $6,988                  $6,942  $7,084

    Tangible
     common
     equity                      6,316                6,256        6,332               6,285          6,424
    --------                     -----                -----        -----               -----          -----


    Shares of
     common
     stock
     outstanding
     (in
     millions)                     184                  185          187                 188            191
    ------------                   ---                  ---          ---                 ---            ---


    Common
     shareholders'
     equity per
     share of
     common
     stock                                 $37.94                 $37.32              $37.41                  $36.87  $37.01

    Tangible
     common
     equity per
     share of
     common
     stock                       34.38                33.79        33.90               33.38          33.56
    -----------                  -----                -----        -----               -----          -----

       (a)   Tier 1 capital and risk-
             weighted assets as defined by
             regulation.

       (b)   September 30, 2013 Tier 1
             capital and risk-weighted
             assets are estimated.

       (c)   Estimated ratios based on the
             standardized approach in the
             final rule for the U.S.
             adoption of the Basel III
             regulatory capital framework
             and excluding most elements
             of AOCI.

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 Basel III Tier 1 common capital ratio further adjusts Tier 1 common capital and risk-weighted assets to account for the final rule approved by U.S. banking regulators in July 2013 for the U.S. adoption of the Basel III regulatory capital framework. The final Basel III capital rules are effective January 1, 2015 for banking organizations subject to the standardized approach. The tangible common equity ratio removes preferred stock and the effect of intangible assets from capital and the effect of intangible assets from total assets. Tangible common equity per share of common stock removes the effect of intangible assets from common shareholders equity per share of common stock. 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