DALLAS, July 15, 2014 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today reported second quarter 2014 net income of $151 million, compared to $139 million for the first quarter 2014 and $143 million for the second quarter 2013. Earnings per diluted share were 80 cents for the second quarter 2014, compared to 73 cents for the first quarter 2014 and 76 cents for the second quarter 2013.

http://photos.prnewswire.com/prnvar/20010807/CMALOGO

     (dollar
     amounts
     in
     millions,
     except
     per
     share
     data)        2nd Qtr '14      1st Qtr '14         2nd Qtr '13
     ---------    -----------      -----------         -----------

     Net
     interest
     income
     (a)                      $416                                 $410          $414

     Provision
     for
     credit
     losses                11                        9                        13

     Noninterest
     income               220                      208                       222

     Noninterest
     expenses             404                      406                       416

     Provision
     for
     income
     taxes                 70                       64                        64


     Net
     income               151                      139                       143


     Net
     income
     attributable
     to
     common
     shares               149                      137                       141


     Diluted
     income
     per
     common
     share               0.80                     0.73                      0.76


     Average
     diluted
     shares
     (in
     millions)            186                      187                       187


     Tier
     1
     common
     capital
     ratio
     (c)               10.49%      (b)         10.58%                   10.43%

     Basel
     III
     common
     equity
     Tier
     1
     capital
     ratio
     (c)
     (d)                 10.2                     10.3                      10.1

     Tangible
     common
     equity
     ratio
     (c)                10.39                    10.20                     10.04
     --------           -----                    -----                     -----

               (a)     Included
                       accretion of
                       the purchase
                       discount on
                       the acquired
                       loan portfolio
                       of $10
                       million, $12
                       million and $7
                       million in the
                       second quarter
                       2014, first
                       quarter 2014
                       and second
                       quarter 2013,
                       respectively.

    (b)               June 30, 2014 ratio is estimated.

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

                      Estimated ratios based on the
                       standardized approach in the final
                       rule, as fully phased-in, and
                       excluding most elements of accumulated
    (d)                other comprehensive income (AOCI).

"We recorded a 10 percent increase in earnings per share compared to the first quarter, a solid performance given this competitive and persistently low-rate environment," said Ralph W. Babb Jr., chairman and chief executive officer. "We continue to be focused on growing the bottom line by carefully managing the things we can control, such as expanding customer relationships, maintaining expense discipline as well as credit quality, all the while taking a prudent, conservative approach to capital.

"With higher customer-driven fee income and broad-based loan growth, revenue increased more than 3 percent from the first quarter. Average loans were up $1.7 billion, or 4 percent, compared to the first quarter, and period-end loans were up $1.4 billion, or 3 percent, with notable growth in virtually every business line. Average deposits were up $614 million to $53.4 billion. Credit quality continued to be strong, noninterest expenses decreased slightly, and our solid capital position continues to support our growth.

"We attribute these results to continued improvements in the economy, reflected particularly in the loan growth in Texas and California, as well as our expertise in faster growing business lines and consistent focus on relationships. Looking ahead, macro-economic conditions appear to be favorable. The market is competitive, however, we are confident in our ability to add new customer relationships and expand existing ones while maintaining our credit pricing and structure discipline."

Second Quarter 2014 Compared to First Quarter 2014

    --  Average total loans increased $1.7 billion, or 4 percent, to $46.7
        billion, primarily reflecting an increase of $1.5 billion, or 5 percent
        in commercial loans. The increase in commercial loans was reflected in
        almost every line of business, led by increases in Mortgage Banker
        Finance ($433 million), National Dealer Services ($290 million), Energy
        ($229 million), and Technology and Life Sciences ($200 million).
        Period-end total loans increased $1.4 billion, or 3 percent, to $47.9
        billion, primarily reflecting a $1.2 billion, or 4 percent, increase in
        commercial loans.
    --  Average total deposits increased $614 million, or 1 percent, to $53.4
        billion, reflecting an increase in noninterest-bearing deposits of $775
        million, partially offset by a decrease in total interest-bearing
        deposits of $161 million. Period-end deposits increased $420 million, to
        $54.2 billion.
    --  Net interest income increased $6 million, or 2 percent, to $416 million
        in the second quarter 2014, compared to $410 million in the first
        quarter 2014, primarily due to an increase in loan volumes, partially
        offset by a decrease in yields.
    --  The provision for credit losses increased $2 million to $11 million in
        the second quarter 2014, primarily reflecting increases in both loan
        volume and commitments. Net charge-offs were $9 million, or 0.08 percent
        of average loans, in the second quarter 2014.
    --  Noninterest income increased $12 million to $220 million in the second
        quarter 2014, primarily as a result of increases in several
        customer-driven fee categories.
    --  Noninterest expenses decreased $2 million to $404 million in the second
        quarter 2014, primarily reflecting a $7 million decrease in salaries and
        benefits expense, partially offset by increases in software expense,
        operational losses and outside processing fees.
    --  Capital remained solid at June 30, 2014, as evidenced by an estimated
        Tier 1 common capital ratio of 10.49 percent and a tangible common
        equity ratio of 10.39 percent.

    --  Comerica repurchased approximately 1.2 million shares of common stock
        during second quarter 2014 under the repurchase program. Together with
        dividends of $0.20 per share, $95 million was returned to shareholders.

Second Quarter 2014 Compared to Second Quarter 2013

    --  Average total loans increased $1.8 billion, or 4 percent, primarily
        reflecting an increase of $1.5 billion, or 5 percent, in commercial
        loans. The increase in total loans was driven by increases in almost all
        lines of business, partially offset by a decrease in Mortgage Banker
        Finance ($496 million).
    --  Average total deposits increased $1.9 billion, or 4 percent, driven by
        an increase in noninterest-bearing deposits of $1.9 billion, or 9
        percent.

    --  Net income increased $8 million, or 5 percent, primarily reflecting a
        reduction in pension expense, largely due to changes in actuarial
        assumptions. Total revenue was stable despite the impact of the
        prolonged low-rate environment, and expenses were controlled.

Net Interest Income

    (dollar amounts
     in millions)     2nd Qtr '14         1st Qtr '14        2nd Qtr '13
    ---------------   -----------         -----------        -----------

    Net interest
     income                          $416                                   $410            $414


    Net interest
     margin                 2.78%                     2.77%                      2.83%


    Selected average
     balances:

    Total earning
     assets                       $60,148                                $59,916         $58,928

    Total loans            46,725                     45,075                      44,893

    Total investment
     securities             9,364                      9,282                       9,793

    Federal Reserve
     Bank deposits
     (excess
     liquidity)             3,801                      5,311                       3,968



    Total deposits         53,384                     52,770                      51,448

    Total
     noninterest-
     bearing deposits      24,011                     23,236                      22,076
    -----------------      ------                     ------                      ------

    --  Net interest income increased $6 million to $416 million in the second
        quarter 2014, compared to the first quarter 2014.
        --  Interest on loans increased $9 million, primarily reflecting the
            benefit from an increase in loan balances ($12 million) and one
            additional day in the quarter ($4 million), partially offset by
            decreases in interest collected on nonaccrual loans from an elevated
            first quarter 2014 amount ($2 million) and accretion of the purchase
            discount on the acquired loan portfolio ($2 million), as well as
            lower loan yields ($3 million).
        --  Interest on investment securities decreased $2 million, primarily
            reflecting a decrease in the retrospective adjustment to premium
            amortization on mortgage-backed investment securities due to the
            slowing of expected future prepayments, compared to the first
            quarter 2014.
        --  Income from short-term investments declined $1 million, largely as a
            result of a decrease in excess liquidity.
    --  The net interest margin of 2.78 percent increased 1 basis point compared
        to the first quarter 2014. The increase in net interest margin was
        primarily due to the impact of a decrease in excess liquidity (+6 basis
        points), partially offset by decreases in interest collected on
        nonaccrual loans (-1 basis points) and the accretion of the purchase
        discount on the acquired loan portfolio (-1 basis point), as well as
        lower loan yields (-2 basis points) and lower yields on mortgage-backed
        investment securities (-1 basis point).

    --  Average earning assets increased $232 million, to $60.1 billion in the
        second quarter 2014, compared to the first quarter 2014, primarily
        reflecting an increase of $1.7 billion in average loans, largely offset
        by a decrease of $1.5 billion in excess liquidity.

Noninterest Income
Noninterest income increased $12 million to $220 million for the second quarter 2014, compared to $208 million for the first quarter 2014, largely due to an increase in customer-driven fees. The $9 million increase in customer-driven fee income was primarily due to increases of $3 million each in commercial lending fees and foreign exchange income, as well as smaller increases in several other customer-driven fee categories. Noncustomer-driven income increased $3 million, primarily due to increases in income from warrants and bank-owned life insurance.

Noninterest Expenses
Noninterest expenses decreased $2 million to $404 million for the second quarter 2014, compared to $406 million for the first quarter 2014, primarily reflecting a $7 million decrease in salaries and benefits expense as well as smaller decreases in several other noninterest expense categories, partially offset by increases of $3 million each in software expense and operational losses, and $2 million in outside processing fees. The $7 million decrease in salaries and benefits expense primarily reflected seasonal decreases in payroll taxes and share-based compensation expense, partially offset by the full quarter impact of merit increases and one more day in the second quarter.

    Credit Quality
    --------------


    (dollar amounts in millions)       2nd Qtr '14     1st Qtr '14        2nd Qtr '13
    ---------------------------        -----------     -----------        -----------

    Net credit-related charge-offs                  $9                                $12         $17

    Net credit-related charge-offs/
     Average total loans                     0.08%                 0.10%                  0.15%


    Provision for credit losses                    $11                                 $9         $13


    Nonperforming loans (a)                    347                    338                     471

    Nonperforming assets (NPAs) (a)            360                    352                     500

    NPAs/Total loans and foreclosed
     property                                0.75%                 0.76%                  1.10%


    Loans past due 90 days or more and
     still accruing                                 $7                                $10         $20


    Allowance for loan losses                  591                    594                     613

    Allowance for credit losses on
     lending-related commitments (b)            42                     37                      36
                                               ---                    ---                     ---

    Total allowance for credit losses          633                    631                     649


    Allowance for loan losses/Period-
     end total loans                         1.23%                 1.28%                  1.35%

    Allowance for loan losses/
     Nonperforming loans                       170                    176                     130
    --------------------------                 ---                    ---                     ---

    (a)                Excludes loans
                       acquired with
                       credit
                       impairment.

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

    --  Nonaccrual loans increased $9 million, to $326 million at June 30, 2014,
        compared to $317 million at March 31, 2014.
    --  Criticized loans increased $49 million, to $2.2 billion at June 30,
        2014, compared to $2.1 billion at March 31, 2014.
    --  During the second quarter 2014, $53 million of borrower relationships
        over $2 million were transferred to nonaccrual status, an increase of
        $34 million from the first quarter 2014.

Balance Sheet and Capital Management
Total assets and common shareholders' equity were $65.3 billion and $7.4 billion, respectively, at June 30, 2014, compared to $65.7 billion and $7.3 billion, respectively, at March 31, 2014.

There were approximately 181 million common shares outstanding at June 30, 2014. Comerica increased the quarterly dividend by 1 cent, or 5 percent, to $0.20 per share in the second quarter 2014. Share repurchases of $59 million (1.2 million shares), combined with dividends, returned 63 percent of second quarter 2014 net income to shareholders.

In the second quarter 2014, Comerica issued $350 million of 2.125% senior notes due in May 2019 and announced the intention to call $150 million of subordinated notes, at par, on July 15, 2014. The subordinated notes, originally due in July 2024, had a carrying value of $182 million at June 30, 2014, which will result in a gain in the third quarter 2014 of approximately $32 million.

Comerica's tangible common equity ratio was 10.39 percent at June 30, 2014, an increase of 19 basis points from March 31, 2014. The estimated Tier 1 common capital ratio decreased 9 basis points, to 10.49 percent at June 30, 2014, from March 31, 2014. The estimated common equity Tier 1 ratio under fully phased-in Basel III capital rules and excluding most elements of AOCI was 10.2 percent percent at June 30, 2014.

Full-Year 2014 Outlook
Management expectations for full-year 2014, compared to 2013, assumes a continuation of the current economic and low-rate environment and excludes the approximately $32 million gain on the July 2014 early redemption of debt, which is viewed as non-core.

    --  Moderate growth of 4 percent to 6 percent in average loans. Range
        reflects growth in the first half along with possible outcomes in the
        second half of 2014 in both seasonal declines in National Dealer
        Services and Mortgage Banker Finance as well as growth in our remaining
        business lines, which slowed throughout the second quarter.
    --  Net interest income modestly lower, reflecting a decline in purchase
        accounting accretion, to $25 million to $30 million, and the effect of
        continued pressure from the low-rate environment, approximately offset
        by loan growth.
    --  Provision for credit losses and net charge-offs stable. Increases to the
        allowance for credit losses due to loan growth offset by continued
        strong credit quality.
    --  Noninterest income modestly lower, reflecting stable customer-driven fee
        income and lower noncustomer-driven income.
    --  Noninterest expenses lower, reflecting lower litigation-related expenses
        and a more than 50 percent decrease in pension expense, to about $39
        million.

    --  Income tax expense to approximate 32 percent of pre-tax income.

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 June 30, 2014 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses second quarter 2014 results compared to first quarter 2014.

In the second quarter 2014, Comerica enhanced the approach used to determine the standard reserve factors used in estimating the allowance for credit losses, which had the effect of capturing certain elements in the quantitative component of the reserve that had formerly been included in the qualitative assessment. The impact of the change was largely neutral to the total allowance for loan losses at June 30, 2014. However, because standard reserves are allocated to the segments at the loan level, while qualitative reserves are allocated at the portfolio level, the impact of the methodology change on the allowance of each segment reflected the characteristics of the individual loans within each segment's portfolio, causing segment reserves to increase or decrease accordingly.

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

    (dollar amounts
     in millions)     2nd Qtr '14        1st Qtr '14            2nd Qtr '13
    ---------------   -----------        -----------            -----------

    Business Bank                 $195               82%                        $198          85%                   $207 85%

    Retail Bank                15         6                       9                  4               11           5

    Wealth Management          28        12                      26                 11               24          10
    -----------------         ---       ---                     ---                ---              ---         ---

                              238      100%                    233               100%             242        100%

    Finance                  (91)                        (92)                          (98)

    Other (a)                   4                          (2)                           (1)
    --------                  ---                          ---                            ---

        Total                     $151                                     $139                         $143
        -----                     ----                                     ----                         ----

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

    Business Bank


    (dollar amounts in millions)  2nd Qtr        1st Qtr        2nd Qtr
                                  '14            '14            '13
    ---------------------------  --------       --------       --------

    Net interest income (FTE)              $376           $371            $372

    Provision for credit losses         32             16              10

    Noninterest income                  95             87              94

    Noninterest expenses               143            146             147

    Net income                         195            198             207


    Net credit-related charge-
     offs                                7             11              11


    Selected average balances:

    Assets                          37,467         35,896          36,014

    Loans                           36,529         34,927          34,955

    Deposits                        27,382         27,023          25,987
    --------                        ------         ------          ------

    --  Average loans increased $1.6 billion, reflecting increases in almost
        every line of business, led by Mortgage Banker Finance, National Dealer
        Services, Energy, and Technology and Life Sciences.
    --  Average deposits increased $359 million, primarily reflecting increases
        in general Middle Market and Corporate Banking.
    --  Net interest income increased $5 million, primarily due to the benefit
        provided by an increase in average loans and one additional day in the
        quarter, partially offset by lower loan yields and a decrease in
        purchase accounting accretion.
    --  The provision for credit losses increased $16 million, primarily due to
        the enhancements to the approach utilized to determine the allowance for
        credit losses discussed above, as well as an increase in loan balances.
    --  Noninterest income increased $8 million, primarily due to increases in
        commercial lending fees, warrant income and small increases in several
        other categories.
    --  Noninterest expenses decreased $3 million, primarily due to a decrease
        in litigation-related expenses.

    Retail Bank


    (dollar amounts in millions)  2nd Qtr        1st Qtr        2nd Qtr
                                    '14            '14            '13
    ---------------------------  --------       --------       --------

    Net interest income (FTE)              $149           $146            $154

    Provision for credit losses        (4)             2               5

    Noninterest income                  41             41              46

    Noninterest expenses               171            171             178

    Net income                          15              9              11


    Net credit-related charge-
     offs                                4              4               4


    Selected average balances:

    Assets                           6,051          6,052           5,962

    Loans                            5,385          5,381           5,271

    Deposits                        21,648         21,361          21,241
    --------                        ------         ------          ------

    --  Average deposits increased $287 million, primarily reflecting an
        increase in noninterest-bearing deposits.
    --  Net interest income increased $3 million, primarily due to an increase
        in net funds transfer pricing (FTP) credits, largely due to the increase
        in average deposits, and the impact of one additional day in the
        quarter.
    --  The provision for credit losses decreased $6 million, primarily
        reflecting a benefit from the enhancements to the approach utilized to
        determine the allowance for credit losses discussed above and
        improvements in credit quality.

    Wealth Management


    (dollar amounts in millions)  2nd Qtr       1st Qtr       2nd Qtr
                                    '14           '14            '13
    ---------------------------  --------      --------      --------

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

    Provision for credit losses        (9)          (8)            (3)

    Noninterest income                  67            64              65

    Noninterest expenses                79            78              77

    Net income                          28            26              24


    Net credit-related
     (recoveries) charge-offs          (2)          (3)              2


    Selected average balances:

    Assets                           4,996         4,939           4,828

    Loans                            4,811         4,767           4,667

    Deposits                         3,827         3,816           3,701
    --------                         -----         -----           -----

    --  Average loans increased $44 million, primarily due to an increase in
        Private Banking.
    --  Noninterest income increased $3 million, primarily reflecting small
        increases in several categories.
    --  Noninterest expenses increased $1 million, as an increase in
        litigation-related expenses was partially offset by a decrease in
        allocated 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 June 30, 2014 and are presented on a fully taxable equivalent (FTE) basis.

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

    (dollar
     amounts
     in
     millions) 2nd Qtr '14        1st Qtr '14            2nd Qtr '13
    ---------- -----------        -----------            -----------

    Michigan                $80               34%                        $68          29%                   $77 32%

    California          63        26                      63                27               65          27

    Texas               36        15                      46                20               46          19

    Other
     Markets            59        25                      56                24               54          22
    --------           ---       ---                     ---               ---              ---         ---

                       238      100%                    233              100%             242        100%

    Finance &
     Other (a)        (87)                        (94)                         (99)
    ----------         ---                          ---                           ---

        Total              $151                                     $139                        $143
        -----              ----                                     ----                        ----

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

    --  Average loans increased $9 million, $615 million and $602 million in
        Michigan, California and Texas, respectively. The increases in average
        loans in California and Texas were broad-based, with increases in nearly
        all business lines. California was led by an increase in National Dealer
        Services, while the increase in Texas was led by Energy.
    --  Average deposits increased $52 million in Michigan, primarily due to an
        increase in Retail Banking, partially offset by decreases in general
        Middle Market and Corporate Banking. In California, average deposits
        increased $588 million, primarily reflecting increases in general Middle
        Market and Corporate Banking, partially offset by a decrease in
        Technology and Life Sciences. The decrease in Texas of $151 million was
        primarily due to a decrease in general Middle Market.
    --  Net interest income increased $4 million in California and $1 million in
        Texas, and decreased $1 million in Michigan. The increases in California
        and Texas primarily reflected the benefit from an increase in average
        loans and one additional day in the quarter, partially offset by a
        decline in loan yields. Texas was also impacted by a decrease in
        accretion on the acquired loan portfolio.
    --  The provision for credit losses increased $16 million in Texas and$3
        million in California, and decreased $12 million in Michigan. The impact
        of the enhancements to the approach utilized to determine the allowance
        for credit losses, as previously discussed in the Business Segment
        section, resulted in increased reserves in California, were largely
        neutral to Texas and reduced reserves in Michigan. The increase in Texas
        was primarily due to an increase in loan balances and risk rating
        downgrades on two specific credits. California's increase was primarily
        due to an increase in loan balances and increased reserves on two
        credits. Credit quality in Texas and California continues to be very
        strong. Improved credit quality and a reduction in loan balances
        contributed to the decline in the Michigan reserve.
    --  Noninterest income increased $7 million and $5 million in Michigan and
        California, respectively, and was stable in Texas. Warrant income
        increased in California, and there were small increases in several other
        noninterest income categories in both markets.
    --  Noninterest expenses increased $5 million in California, primarily due
        to increases in litigation-related expenses and operational losses. In
        Michigan and Texas, noninterest expenses declined $2 million and $1
        million, respectively.

    Michigan Market


    (dollar amounts in millions)  2nd Qtr        1st Qtr        2nd Qtr
                                    '14            '14            '13
    ---------------------------  --------       --------       --------

    Net interest income (FTE)              $182           $183            $187

    Provision for credit losses        (9)             3             (4)

    Noninterest income                  94             87              88

    Noninterest expenses               159            161             161

    Net income                          80             68              77


    Net credit-related charge-
     offs (recoveries)                  10              -              4


    Selected average balances:

    Assets                          13,851         13,819          14,022

    Loans                           13,482         13,473          13,598

    Deposits                        20,694         20,642          20,159
    --------                        ------         ------          ------

    California Market


    (dollar amounts in millions)  2nd Qtr        1st Qtr        2nd Qtr
                                     '14           '14            '13
    ---------------------------  --------       --------       --------

    Net interest income (FTE)              $176           $172            $173

    Provision for credit losses         14             11               7

    Noninterest income                  39             34              36

    Noninterest expenses               101             96             100

    Net income                          63             63              65


    Net credit-related charge-
     offs (recoveries)                   5             10              12


    Selected average balances:

    Assets                          15,721         15,133          14,155

    Loans                           15,439         14,824          13,912

    Deposits                        15,370         14,782          14,671
    --------                        ------         ------          ------

    Texas Market


    (dollar amounts in millions)  2nd Qtr        1st Qtr        2nd Qtr
                                    '14            '14            '13
    ---------------------------  --------       --------       --------

    Net interest income (FTE)              $137           $136            $131

    Provision for credit losses         22              6               6

    Noninterest income                  31             31              34

    Noninterest expenses                89             90              89

    Net income                          36             46              46


    Net credit-related charge-
     offs                                2              6             (3)


    Selected average balances:

    Assets                          11,661         11,070          10,886

    Loans                           10,966         10,364          10,179

    Deposits                        10,724         10,875          10,187
    --------                        ------         ------          ------

Conference Call and Webcast
Comerica will host a conference call to review second quarter 2014 financial results at 7 a.m. CT Tuesday, July 15, 2014. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 61649842). 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," "projects," "models" 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 changes in interest rates; 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; the effects of more stringent capital or liquidity requirements; declines or other changes in the businesses or industries of Comerica's customers; operational difficulties, failure of technology infrastructure or information security incidents; the implementation of Comerica's strategies and business initiatives; Comerica's ability to utilize technology to efficiently and effectively develop, market and deliver new products and services; 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; any future strategic acquisitions or divestitures; 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 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 12 of Comerica's Annual Report on Form 10-K for the year ended December 31, 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                        Six Months Ended
                                                             ------------------                        ----------------

                                            June 30,  March 31,     June 30,             June 30,

    (in millions, except
     per share data)                             2014       2014           2013      2014         2013
    --------------------                         ----       ----           ----      ----         ----

    PER COMMON SHARE AND COMMON STOCK
     DATA

    Diluted net income                                    $0.80                   $0.73                           $0.76                  $1.54    $1.46

    Cash dividends
     declared                                    0.20                     0.19      0.17                            0.39          0.34


    Average diluted
     shares (in
     thousands)                               186,108                  186,701   186,998                         186,402       187,219
    ---------------                           -------                  -------   -------                         -------       -------

    KEY RATIOS

    Return on average
     common shareholders'
     equity                                     8.27%                   7.68%    8.23%                          7.97%        7.95%

    Return on average
     assets                                      0.93                     0.86      0.90                            0.90          0.87

    Tier 1 common capital
     ratio (a) (b)                              10.49                    10.58     10.43

    Tier 1 risk-based
     capital ratio (b)                          10.49                    10.58     10.43

    Total risk-based
     capital ratio (b)                          12.50                    13.00     13.29

    Leverage ratio (b)                          10.93                    10.85     10.81

    Tangible common
     equity ratio (a)                           10.39                    10.20     10.04
    -----------------                           -----                    -----     -----

    AVERAGE BALANCES

    Commercial loans                                    $29,890                 $28,362                         $28,393                $29,130  $28,225

    Real estate
     construction loans                         1,913                    1,827     1,453                           1,871         1,384

    Commercial mortgage
     loans                                      8,749                    8,770     9,192                           8,759         9,295

    Lease financing                               850                      848       855                             849           856

    International loans                         1,328                    1,301     1,262                           1,315         1,272

    Residential mortgage
     loans                                      1,773                    1,724     1,602                           1,749         1,579

    Consumer loans                              2,222                    2,243     2,136                           2,232         2,145
                                                -----                    -----     -----                           -----         -----

    Total loans                                46,725                   45,075    44,893                          45,905        44,756


    Earning assets                             60,148                   59,916    58,928                          60,033        58,769

    Total assets                               64,879                   64,708    63,706                          64,794        63,733


    Noninterest-bearing
     deposits                                  24,011                   23,236    22,076                          23,626        21,793

    Interest-bearing
     deposits                                  29,373                   29,534    29,372                          29,453        29,302
                                               ------                   ------    ------                          ------        ------

    Total deposits                             53,384                   52,770    51,448                          53,079        51,095


    Common shareholders'
     equity                                     7,331                    7,229     6,979                           7,280         6,966
    --------------------                        -----                    -----     -----                           -----         -----

    NET INTEREST INCOME (fully taxable
     equivalent basis)

    Net interest income                                    $417                    $411                            $415                   $828     $831

    Net interest margin                         2.78%                   2.77%    2.83%                          2.78%        2.86%
    -------------------                          ----                     ----      ----                            ----          ----

    CREDIT QUALITY

    Total nonperforming
     assets (c)                                            $360                    $352                            $500


    Loans past due 90
     days or more and
     still accruing                                 7                       10        20


    Net loan charge-offs                            9                       12        17                                 $21                $41


    Allowance for loan
     losses                                       591                      594       613

    Allowance for credit
     losses on lending-
     related commitments                           42                       37        36
                                                  ---                      ---       ---

    Total allowance for
     credit losses                                633                      631       649


    Allowance for loan
     losses as a
     percentage of total
     loans                                      1.23%                   1.28%    1.35%

    Net loan charge-offs
     as a percentage of
     average total loans
     (d)                                         0.08                     0.10      0.15                           0.09%        0.18%

    Nonperforming assets
     as a percentage of
     total loans and
     foreclosed property
     (c)                                         0.75                     0.76      1.10

    Allowance for loan
     losses as a
     percentage of total
     nonperforming loans                          170                      176       130
    --------------------                          ---                      ---       ---

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

    (b)              June 30, 2014 ratios are
                     estimated.

    (c)              Excludes loans acquired with
                     credit-impairment.

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

    CONSOLIDATED BALANCE SHEETS

    Comerica Incorporated and Subsidiaries


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

    (in millions, except share data)              2014         2014           2013           2013
    -------------------------------               ----         ----           ----           ----

                                           (unaudited) (unaudited)                 (unaudited)

    ASSETS

    Cash and due from banks                                 $1,226                                  $1,186              $1,140  $1,016


    Interest-bearing deposits with banks         2,668                      4,434                     5,311      2,909

    Other short-term investments                   109                        105                       112        119


    Investment securities available-for-
     sale                                        9,534                      9,487                     9,307      9,631


    Commercial loans                            30,986                     29,774                    28,815     29,186

    Real estate construction loans               1,939                      1,847                     1,762      1,479

    Commercial mortgage loans                    8,747                      8,801                     8,787      9,007

    Lease financing                                822                        849                       845        843

    International loans                          1,352                      1,250                     1,327      1,209

    Residential mortgage loans                   1,775                      1,751                     1,697      1,611

    Consumer loans                               2,261                      2,217                     2,237      2,124
    --------------                               -----                      -----                     -----      -----

    Total loans                                 47,882                     46,489                    45,470     45,459

    Less allowance for loan losses               (591)                     (594)                    (598)     (613)
    ------------------------------                ----                       ----                      ----       ----

    Net loans                                   47,291                     45,895                    44,872     44,846


    Premises and equipment                         562                        583                       594        604

    Accrued income and other assets              3,935                      3,991                     3,888      3,819
    -------------------------------              -----                      -----                     -----      -----

    Total assets                                           $65,325                                 $65,681             $65,224 $62,944
    ------------                                           -------                                 -------             ------- -------


    LIABILITIES AND SHAREHOLDERS' EQUITY

    Noninterest-bearing deposits                           $24,774                                 $23,955             $23,875 $21,870


    Money market and interest-bearing
     checking deposits                          22,555                     22,485                    22,332     21,677

    Savings deposits                             1,731                      1,742                     1,673      1,677

    Customer certificates of deposit             4,962                      5,099                     5,063      5,594

    Foreign office time deposits                   148                        469                       349        437
    ----------------------------                   ---                        ---                       ---        ---

    Total interest-bearing deposits             29,396                     29,795                    29,417     29,385
    -------------------------------             ------                     ------                    ------     ------

    Total deposits                              54,170                     53,750                    53,292     51,255


    Short-term borrowings                          176                        160                       253        131

    Accrued expenses and other
     liabilities                                   990                        954                       986      1,049

    Medium- and long-term debt                   2,620                      3,534                     3,543      3,601
    --------------------------                   -----                      -----                     -----      -----

    Total liabilities                           57,956                     58,398                    58,074     56,036


    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                              2,175                      2,182                     2,179      2,160

    Accumulated other comprehensive loss         (304)                     (325)                    (391)     (538)

    Retained earnings                            6,520                      6,414                     6,318      6,124

    Less cost of common stock in treasury
     -47,194,492 shares at 6/30/14;
     46,492,524 shares at 3/31/14;
     45,860,786 shares at 12/31/13 and
     42,999,083 shares at 6/30/13              (2,163)                   (2,129)                  (2,097)   (1,979)
    -------------------------------------       ------                     ------                    ------     ------

    Total shareholders' equity                   7,369                      7,283                     7,150      6,908
    --------------------------                   -----                      -----                     -----      -----

    Total liabilities and shareholders'
     equity                                                $65,325                                 $65,681             $65,224 $62,944
    -----------------------------------                    -------                                 -------             ------- -------

    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)

    Comerica Incorporated and Subsidiaries


                                                   Three Months Ended               Six Months Ended

                                                        June 30,                        June 30,
                                                      --------                    --------

    (in millions, except
     per share data)                               2014      2013          2014    2013
    --------------------                           ----      ----          ----    ----

    INTEREST INCOME

    Interest and fees on
     loans                                                  $385                 $388                       $761  $778

    Interest on investment
     securities                                      53                 52                     108     105

    Interest on short-
     term investments                                 3                  3                       7       6
    ------------------                              ---                ---                     ---     ---

    Total interest income                           441                443                     876     889

    INTEREST EXPENSE

    Interest on deposits                             11                 15                      22      30

    Interest on medium-
     and long-term debt                              14                 14                      28      29
    -------------------                             ---                ---                     ---     ---

    Total interest expense                           25                 29                      50      59
    ----------------------                          ---                ---                     ---     ---

    Net interest income                             416                414                     826     830

    Provision for credit
     losses                                          11                 13                      20      29
    --------------------                            ---                ---                     ---     ---

    Net interest income
     after provision for
     credit losses                                  405                401                     806     801

    NONINTEREST INCOME

    Service charges on
     deposit accounts                                54                 53                     108     108

    Fiduciary income                                 45                 44                      89      87

    Commercial lending
     fees                                            23                 22                      43      43

    Card fees                                        19                 18                      38      35

    Letter of credit fees                            15                 16                      29      32

    Bank-owned life
     insurance                                       11                 10                      20      19

    Foreign exchange
     income                                          12                  9                      21      18

    Brokerage fees                                    4                  4                       9       9

    Net securities
     (losses) gains                                   -               (2)                      1     (2)

    Other noninterest
     income                                          37                 48                      70      86
    -----------------                               ---                ---                     ---     ---

    Total noninterest
     income                                         220                222                     428     435

    NONINTEREST EXPENSES

    Salaries and employee
     benefits expense                               240                245                     487     496

    Net occupancy expense                            39                 39                      79      78

    Equipment expense                                15                 15                      29      30

    Outside processing fee
     expense                                         30                 30                      58      58

    Software expense                                 25                 22                      47      44

    Litigation-related
     expense                                          3                  1                       6       4

    FDIC insurance expense                            8                  8                      16      17

    Advertising expense                               5                  6                      11      12

    Other noninterest
     expenses                                        39                 50                      77      93
    -----------------                               ---                ---                     ---     ---

    Total noninterest
     expenses                                       404                416                     810     832
    -----------------                               ---                ---                     ---     ---

    Income before income
     taxes                                          221                207                     424     404

    Provision for income
     taxes                                           70                 64                     134     127
    --------------------                            ---                ---                     ---     ---

    NET INCOME                                      151                143                     290     277

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

    Net income
     attributable to
     common shares                                          $149                 $141                       $286  $273
    ----------------                                        ----                 ----                       ----  ----

    Earnings per common share:

    Basic                                                  $0.83                $0.77                      $1.59 $1.48

    Diluted                                        0.80               0.76                    1.54    1.46


    Comprehensive income                            172                 15                     377     152


    Cash dividends
     declared on common
     stock                                           36                 32                      71      64

    Cash dividends
     declared per common
     share                                         0.20               0.17                    0.39    0.34
    --------------------                           ----               ----                    ----    ----

    CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)

    Comerica Incorporated and Subsidiaries


                                               Second     First     Fourth     Third     Second                   Second Quarter 2014 Compared To:


                                               Quarter    Quarter   Quarter   Quarter    Quarter     First Quarter 2014             Second Quarter 2013

    (in millions, except
     per share data)                               2014       2014       2013        2013       2013        Amount     Percent               Amount     Percent
    --------------------                           ----       ----       ----        ----       ----        ------     -------               ------     -------

    INTEREST INCOME

    Interest and fees on
     loans                                                   $385                            $376                      $397                              $381           $388                     $9            2%  $(3)  (1)%

    Interest on investment
     securities                                      53                   55                    55              54                   52                            (2)    (2)            1             3

    Interest on short-
     term investments                                 3                    4                     4               4                    3                            (1)   (27)            -                   -
    ------------------                              ---                  ---                   ---             ---                  ---                            ---     ---           ---                 ---

    Total interest income                           441                  435                   456             439                  443                              6       2           (2)                   -

    INTEREST EXPENSE

    Interest on deposits                             11                   11                    12              13                   15                              -              -         (4)         (23)

    Interest on medium-
     and long-term debt                              14                   14                    14              14                   14                              -              -           -            -
    -------------------                             ---                  ---                   ---             ---                  ---                            ---            ---         ---          ---

    Total interest expense                           25                   25                    26              27                   29                              -              -         (4)         (16)
    ----------------------                          ---                  ---                   ---             ---                  ---                            ---            ---         ---           ---

    Net interest income                             416                  410                   430             412                  414                              6       2             2             1

    Provision for credit
     losses                                          11                    9                     9               8                   13                              2      26           (2)         (15)
    --------------------                            ---                  ---                   ---             ---                  ---                            ---     ---           ---           ---

    Net interest income
     after provision                                405                  401                   421             404                  401                              4       1             4             1

    for credit losses

    NONINTEREST INCOME

    Service charges on
     deposit accounts                                54                   54                    53              53                   53                              -              -           1             2

    Fiduciary income                                 45                   44                    43              41                   44                              1       2             1             4

    Commercial lending
     fees                                            23                   20                    28              28                   22                              3      16             1             3

    Card fees                                        19                   19                    19              20                   18                              -              -           1             3

    Letter of credit fees                            15                   14                    15              17                   16                              1       2           (1)         (11)

    Bank-owned life
     insurance                                       11                    9                     9              12                   10                              2      13             1             6

    Foreign exchange
     income                                          12                    9                     9               9                    9                              3      31             3            29

    Brokerage fees                                    4                    5                     4               4                    4                            (1)   (10)            -                   -

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

    Other noninterest
     income                                          37                   33                    39              43                   48                              4      16          (11)         (19)
    -----------------                               ---                  ---                   ---             ---                  ---                            ---     ---           ---           ---

    Total noninterest
     income                                         220                  208                   219             228                  222                             12       6           (2)          (1)

    NONINTEREST EXPENSES

    Salaries and benefits
     expense                                        240                  247                   258             255                  245                            (7)    (3)          (5)          (2)

    Net occupancy expense                            39                   40                    41              41                   39                            (1)    (3)            -                   -

    Equipment expense                                15                   14                    15              15                   15                              1       3             -                   -

    Outside processing fee
     expense                                         30                   28                    30              31                   30                              2       6             -                   -

    Software expense                                 25                   22                    24              22                   22                              3      11             3            12

    Litigation-related
     expense                                          3                    3                    52             (4)                   1                              -              -           2           N/M

    FDIC insurance expense                            8                    8                     7               9                    8                              -              -           -            -

    Advertising expense                               5                    6                     3               6                    6                            (1)              -         (1)          (9)

    Other noninterest
     expenses                                        39                   38                    43              42                   50                              1       5          (11)         (20)
    -----------------                               ---                  ---                   ---             ---                  ---                            ---     ---           ---           ---

    Total noninterest
     expenses                                       404                  406                   473             417                  416                            (2)              -        (12)          (3)
    -----------------                               ---                  ---                   ---             ---                  ---                            ---             ---         ---           ---

    Income before income
     taxes                                          221                  203                   167             215                  207                             18       9            14             7

    Provision for income
     taxes                                           70                   64                    50              68                   64                              6      10             6            10
    --------------------                            ---                  ---                   ---             ---                  ---                            ---     ---           ---           ---

    NET INCOME                                      151                  139                   117             147                  143                             12       9             8             5

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

    Net income
     attributable to
     common shares                                           $149                            $137                      $115                              $145           $141                    $12            9%    $8     6%
    ----------------                                         ----                            ----                      ----                              ----           ----                    ---           ---    ---    ---

    Earnings per common share:

    Basic                                                   $0.83                           $0.76                     $0.64                             $0.80          $0.77                  $0.07            9% $0.06     8%

    Diluted                                        0.80                 0.73                  0.62            0.78                 0.76                           0.07      10          0.04             5


    Comprehensive income                            172                  205                   267             144                   15                           (33)   (16)          157                  N/M


    Cash dividends
     declared on common
     stock                                           36                   35                    31              31                   32                              1       5             4            15

    Cash dividends
     declared per common
     share                                         0.20                 0.19                  0.17            0.17                 0.17                           0.01       5          0.03            18
    --------------------                           ----                 ----                  ----            ----                 ----                           ----     ---          ----           ---

    N/M - Not Meaningful

    ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                  2014                                    2013
                                                                  ----                                    ----

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


    Balance at beginning of
     period                                                  $594                      $598                      $604           $613 $617


    Loan charge-offs:

    Commercial                                         19               19                           31       20             19

    Real estate construction                            -               -                           -       1              2

    Commercial mortgage                                 5                8                            5        9              9

    Residential mortgage                                -               -                           1        1              1

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

    Total loan charge-offs                             28               30                           41       39             35


    Recoveries on loans previously
     charged-off:

    Commercial                                         11               11                           17        8             11

    Real estate construction                            1                -                           3        2              1

    Commercial mortgage                                 3                3                            5        7              3

    Lease financing                                     -               2                            -       1              -

    Residential mortgage                                3                -                           1        1              1

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

    Total recoveries                                   19               18                           28       20             18
    ----------------                                  ---              ---                          ---      ---            ---

    Net loan charge-offs                                9               12                           13       19             17

    Provision for loan losses                           6                8                            7       10             13
    -------------------------                         ---              ---                          ---      ---            ---

    Balance at end of period                                 $591                      $594                      $598           $604 $613
    ------------------------                                 ----                      ----                      ----           ---- ----


    Allowance for loan losses
     as a percentage of total
     loans                                          1.23%           1.28%                       1.32%   1.37%         1.35%


    Net loan charge-offs as
     a percentage of average
     total loans                                     0.08             0.10                         0.12     0.18           0.15
    ------------------------                         ----             ----                         ----     ----           ----

    ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS (unaudited)

    Comerica Incorporated and Subsidiaries


                                                               2014                                      2013
                                                               ----                                      ----

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


    Balance at
     beginning of
     period                                              $37                               $36                    $34       $36   $36

    Add: Provision
     for credit
     losses on
     lending-related
     commitments                                 5                    1                                2    (2)        -
    ----------------                           ---                  ---                              ---    ---       ---

    Balance at end of
     period                                              $42                               $37                    $36       $34   $36
    -----------------                                    ---                               ---                    ---       ---   ---


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

    NONPERFORMING ASSETS (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                              2014                                                             2013
                                                                              ----                                                             ----

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


    SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS

    Nonaccrual loans:

    Business loans:

       Commercial                                                   $72                                   $54                                            $81                                 $107                              $102

       Real estate construction                            19                       19                                    21                      25                      28

       Commercial mortgage                                156                      162                                   156                     206                     226

       International                                        -                       -                                    4                       -                      -

       Total nonaccrual business
        loans                                             247                      235                                   262                     338                     356

    Retail loans:

       Residential mortgage                                45                       48                                    53                      63                      62

       Consumer:

       Home equity                                         32                       32                                    33                      34                      28

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

       Total consumer                                      34                       34                                    35                      36                      31
       --------------                                     ---                      ---                                   ---                     ---                     ---

       Total nonaccrual retail
        loans                                              79                       82                                    88                      99                      93
       -----------------------                            ---                      ---                                   ---                     ---                     ---

    Total nonaccrual loans                                326                      317                                   350                     437                     449

    Reduced-rate loans                                     21                       21                                    24                      22                      22
    ------------------                                    ---                      ---                                   ---                     ---                     ---

    Total nonperforming loans
     (a)                                                  347                      338                                   374                     459                     471

    Foreclosed property                                    13                       14                                     9                      19                      29
    -------------------                                   ---                      ---                                   ---                     ---                     ---

    Total nonperforming assets
     (a)                                                           $360                                  $352                                           $383                                 $478                              $500
    --------------------------                                     ----                                  ----                                           ----                                 ----                              ----


    Nonperforming loans as a
     percentage of total loans                          0.73%                   0.73%                                0.82%                  1.04%                  1.04%

    Nonperforming assets as a
     percentage of total loans                           0.75                     0.76                                  0.84                    1.08                    1.10

    and foreclosed property

    Allowance for loan losses as
     a percentage of total                                170                      176                                   160                     131                     130

    nonperforming loans

    Loans past due 90 days or
     more and still accruing                                         $7                                   $10                                            $16                                  $25                               $20
    -------------------------                                       ---                                   ---                                            ---                                  ---                               ---


    ANALYSIS OF NONACCRUAL LOANS

    Nonaccrual loans at
     beginning of period                                           $317                                  $350                                           $437                                 $449                              $494

    Loans transferred to
     nonaccrual (b)                                        53                       19                                    23                      50                      37

    Nonaccrual business loan
     gross charge-offs (c)                               (24)                    (27)                                 (33)                   (25)                   (25)

    Nonaccrual business loans
     sold (d)                                             (6)                     (3)                                 (14)                   (17)                    (9)

    Payments/Other (e)                                   (14)                    (22)                                 (63)                   (20)                   (48)
    ------------------                                    ---                      ---                                   ---                     ---                     ---

    Nonaccrual loans at end of
     period                                                        $326                                  $317                                           $350                                 $437                              $449
    --------------------------                                     ----                                  ----                                           ----                                 ----                              ----

    (a) Excludes loans acquired with credit impairment.

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

    (c) Analysis of gross loan charge-offs:

    Nonaccrual business loans                                       $24                                   $27                                            $33                                  $25                               $25

    Performing criticized loans                             -                       -                                    3                       5                       5

    Consumer and residential
     mortgage loans                                         4                        3                                     5                       9                       5
                                                          ---                      ---                                   ---                     ---                     ---

    Total gross loan charge-offs                                    $28                                   $30                                            $41                                  $39                               $35
                                                                    ---                                   ---                                            ---                                  ---                               ---

    (d) Analysis of loans sold:

    Nonaccrual business loans                                        $6                                    $3                                            $14                                  $17                                $9

    Performing criticized loans                             8                        6                                    22                      31                      40
                                                          ---                      ---                                   ---                     ---                     ---

    Total criticized loans sold                                     $14                                    $9                                            $36                                  $48                               $49
                                                                    ---                                   ---                                            ---                                  ---                               ---

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

    ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)

    Comerica Incorporated and Subsidiaries


                                                                                Six Months Ended
                                                                                ----------------

                                                           June 30, 2014                                  June 30, 2013
                                                           -------------                                  -------------

                                                 Average              Average                 Average                    Average

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


    Commercial loans                                       $29,130                            $453                 3.13%                                $28,225          $462   3.30%

    Real estate construction
     loans                                          1,871                    32                3.42                               1,384              28             4.10

    Commercial mortgage
     loans                                          8,759                   170                3.92                               9,295             183             3.97

    Lease financing                                   849                    16                3.66                                 856              14             3.23

    International loans                             1,315                    24                3.66                               1,272              23             3.72

    Residential mortgage
     loans                                          1,749                    33                3.84                               1,579              33             4.21

    Consumer loans                                  2,232                    35                3.19                               2,145              36             3.33
    --------------                                  -----                   ---                ----                               -----             ---             ----

    Total loans (a)                                45,905                   763                3.35                              44,756             779             3.51


    Mortgage-backed
     securities available-
     for-sale                                       8,954                   107                2.39                               9,532             104             2.18

    Other investment
     securities available-
     for-sale                                         369                     1                0.44                                 374               1             0.55
    ----------------------                            ---                   ---                ----                                 ---             ---             ----

    Total investment
     securities available-
     for-sale                                       9,323                   108                2.31                               9,906             105             2.16


    Interest-bearing
     deposits with banks (b)                        4,695                     7                0.26                               3,990               5             0.26

    Other short-term
     investments                                      110                     -               0.63                                 117               1             1.67
    ----------------                                  ---                   ---               ----                                 ---             ---             ----

    Total earning assets                           60,033                   878                2.94                              58,769             890             3.06


    Cash and due from banks                           917                                                975

    Allowance for loan
     losses                                         (602)                                             (629)

    Accrued income and other
     assets                                         4,446                                              4,618
                                                    -----                                              -----

    Total assets                                           $64,794                                                            $63,733
                                                           -------                                                            -------


    Money market and
     interest-bearing
     checking deposits                                     $22,279                     12                0.11                                  $21,442               15    0.14

    Savings deposits                                1,721                     -               0.03                               1,640               -            0.03

    Customer certificates of
     deposit                                        5,075                     9                0.36                               5,715              13             0.45

    Foreign office time
     deposits                                         378                     1                0.52                                 505               2             0.57
    -------------------                               ---                   ---                ----                                 ---             ---             ----

    Total interest-bearing
     deposits                                      29,453                    22                0.15                              29,302              30             0.20


    Short-term borrowings                             198                     -               0.03                                 158               -            0.09

    Medium- and long-term
     debt                                           3,270                    28                1.64                               4,374              29             1.37
    ---------------------                           -----                   ---                ----                               -----             ---             ----

    Total interest-bearing
     sources                                       32,921                    50                0.30                              33,834              59             0.35


    Noninterest-bearing
     deposits                                      23,626                                             21,793

    Accrued expenses and
     other liabilities                                967                                              1,140

    Total shareholders'
     equity                                         7,280                                              6,966
                                                    -----                                              -----

    Total liabilities and
     shareholders' equity                                  $64,794                                                            $63,733
                                                           -------                                                            -------


    Net interest income/rate spread (FTE)                               $828                2.64                                               $831             2.71
                                                                        ----                                                                  ----


    FTE adjustment                                                        $2                                                               $1


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

    Net interest margin (as a percentage of
     average earning assets) (FTE) (a) (b)                             2.78%                                                           2.86%
    ---------------------------------------                             ----                                                           ----

    (a)              Accretion of the purchase
                     discount on the acquired loan
                     portfolio of $22 million and
                     $18 million in the six months
                     ended June 30, 2014 and 2013,
                     respectively, increased the net
                     interest margin by 7 basis
                     points and 6 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 and 18 basis
                     points in the six months ended
                     June 30, 2014 and 2013,
                     respectively.

    ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)

    Comerica Incorporated and Subsidiaries


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

                                                           June 30, 2014                        March 31, 2014                                   June 30, 2013
                                                           -------------                        --------------                                   -------------

                                                 Average              Average       Average                    Average              Average                Average

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


    Commercial loans                                       $29,890                  $231                 3.10%                                      $28,362                      $221            3.17%                       $28,393        $233 3.29%

    Real estate construction
     loans                                          1,913                    16      3.44                               1,827                   15                    3.40                1,453           15             4.04

    Commercial mortgage
     loans                                          8,749                    85      3.88                               8,770                   86                    3.97                9,192           88             3.86

    Lease financing                                   850                     7      3.26                                 848                    9                    4.07                  855            7             3.22

    International loans                             1,328                    12      3.64                               1,301                   12                    3.68                1,262           12             3.81

    Residential mortgage
     loans                                          1,773                    17      3.82                               1,724                   17                    3.86                1,602           16             4.04

    Consumer loans                                  2,222                    18      3.22                               2,243                   17                    3.16                2,136           18             3.30
    --------------                                  -----                   ---      ----                               -----                  ---                    ----                -----          ---             ----

    Total loans (a)                                46,725                   386      3.31                              45,075                  377                    3.39               44,893          389             3.47


    Mortgage-backed
     securities available-
     for-sale                                       8,996                    53      2.35                               8,911                   55                    2.42                9,415           51             2.22

    Other investment
     securities available-
     for-sale                                         368                     -     0.46                                 371                    -                   0.43                  378            1             0.52
    ----------------------                            ---                   ---     ----                                 ---                  ---                   ----                  ---          ---             ----

    Total investment
     securities available-
     for-sale                                       9,364                    53      2.28                               9,282                   55                    2.34                9,793           52             2.15


    Interest-bearing
     deposits with banks (b)                        3,949                     3      0.25                               5,448                    4                    0.26                4,125            3             0.26

    Other short-term
     investments                                      110                     -     0.61                                 111                    -                   0.66                  117            -            1.05
    ----------------                                  ---                   ---     ----                                 ---                  ---                   ----                  ---          ---            ----

    Total earning assets                           60,148                   442      2.95                              59,916                  436                    2.94               58,928          444             3.02


    Cash and due from banks                           921                                      913                                                      972

    Allowance for loan
     losses                                         (602)                                   (603)                                                   (625)

    Accrued income and other
     assets                                         4,412                                    4,482                                                    4,431
                                                    -----                                    -----                                                    -----

    Total assets                                           $64,879                                                  $64,708                                                  $63,706
                                                           -------                                                  -------                                                  -------


    Money market and
     interest-bearing
     checking deposits                                     $22,296              6              0.10                                       $22,261                       6          0.11                       $21,544                8 0.13

    Savings deposits                                1,742                     -     0.03                               1,700                    -                   0.03                1,658            -            0.03

    Customer certificates of
     deposit                                        5,041                     5      0.36                               5,109                    5                    0.36                5,685            6             0.43

    Foreign office time
     deposits                                         294                     -     0.68                                 464                    -                   0.42                  485            1             0.60
    -------------------                               ---                   ---     ----                                 ---                  ---                   ----                  ---          ---             ----

    Total interest-bearing
     deposits                                      29,373                    11      0.15                              29,534                   11                    0.15               29,372           15             0.19


    Short-term borrowings                             210                     -     0.03                                 185                    -                   0.03                  193            -            0.07

    Medium- and long-term
     debt                                           2,999                    14      1.77                               3,545                   14                    1.53                4,044           14             1.43
    ---------------------                           -----                   ---      ----                               -----                  ---                    ----                -----          ---             ----

    Total interest-bearing
     sources                                       32,582                    25      0.30                              33,264                   25                    0.30               33,609           29             0.34


    Noninterest-bearing
     deposits                                      24,011                                   23,236                                                   22,076

    Accrued expenses and
     other liabilities                                955                                      979                                                    1,042

    Total shareholders'
     equity                                         7,331                                    7,229                                                    6,979
                                                    -----                                    -----                                                    -----

    Total liabilities and
     shareholders' equity                                  $64,879                                                  $64,708                                                  $63,706
                                                           -------                                                  -------                                                  -------


    Net interest income/rate spread (FTE)                               $417      2.65                                                    $411                    2.64                                     $415              2.68
                                                                        ----                                                             ----                                                            ----


    FTE adjustment                                                        $1                                                     $1                                                           $1


    Impact of net noninterest-bearing
     sources of funds                                                   0.13                                                   0.13                                           0.15
    ---------------------------------                                   ----                                                 ----                                           ----

    Net interest margin (as a percentage of
     average earning assets) (FTE) (a) (b)                             2.78%                                                 2.77%                                         2.83%
    ---------------------------------------                             ----                                                 ----                                           ----

    (a)              Accretion of the purchase
                     discount on the acquired loan
                     portfolio of $10 million, $12
                     million and $7 million in the
                     second and first quarters of
                     2014 and the second quarter of
                     2013, respectively, increased
                     the net interest margin by 7
                     basis points, 8 basis points
                     and 5 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 17 basis points, 24 basis
                     points and 18 basis points in
                     the second and first quarters
                     of 2014 and the second quarter
                     of 2013, respectively.

    CONSOLIDATED STATISTICAL DATA (unaudited)

    Comerica Incorporated and Subsidiaries


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

    (in millions, except per
     share data)                                   2014       2014           2013             2013        2013
    ------------------------                       ----       ----           ----             ----        ----


    Commercial loans:

    Floor plan                                             $3,576                                    $3,437               $3,504             $2,869  $3,241

    Other                                        27,410                   26,337                      25,311      25,028             25,945
    -----                                        ------                   ------                      ------      ------             ------

    Total commercial loans                       30,986                   29,774                      28,815      27,897             29,186

    Real estate construction
     loans                                        1,939                    1,847                       1,762       1,552              1,479

    Commercial mortgage loans                     8,747                    8,801                       8,787       8,785              9,007

    Lease financing                                 822                      849                         845         829                843

    International loans                           1,352                    1,250                       1,327       1,286              1,209

    Residential mortgage
     loans                                        1,775                    1,751                       1,697       1,650              1,611

    Consumer loans:

    Home equity                                   1,574                    1,533                       1,517       1,501              1,474

    Other consumer                                  687                      684                         720         651                650
    --------------                                  ---                      ---                         ---         ---                ---

    Total consumer loans                          2,261                    2,217                       2,237       2,152              2,124
    --------------------                          -----                    -----                       -----       -----              -----

    Total loans                                           $47,882                                   $46,489              $45,470            $44,151 $45,459
    -----------                                           -------                                   -------              -------            ------- -------


    Goodwill                                                 $635                                      $635                 $635               $635    $635

    Core deposit intangible                          14                       15                          16          17                 18

    Loan servicing rights                             1                        1                           1           1                  2


    Tier 1 common capital
     ratio (a) (b)                               10.49%                  10.58%                     10.64%     10.72%            10.43%

    Tier 1 risk-based
     capital ratio (a)                            10.49                    10.58                       10.64       10.72              10.43

    Total risk-based capital
     ratio (a)                                    12.50                    13.00                       13.10       13.42              13.29

    Leverage ratio (a)                            10.93                    10.85                       10.77       10.88              10.81

    Tangible common equity
     ratio (b)                                    10.39                    10.20                       10.07        9.87              10.04


    Common shareholders'
     equity per share of
     common stock                                          $40.72                                    $40.09               $39.22             $37.93  $37.31

    Tangible common equity
     per share of common
     stock (b)                                    37.12                    36.50                       35.64       34.37              33.77

    Market value per share for the quarter:

    High                                          52.60                    53.50                       48.69       43.49              40.44

    Low                                           45.34                    43.96                       38.64       38.56              33.55

    Close                                         50.16                    51.80                       47.54       39.31              39.83


    Quarterly ratios:

    Return on average common
     shareholders' equity                         8.27%                   7.68%                      6.66%      8.50%             8.23%

    Return on average assets                       0.93                     0.86                        0.72        0.92               0.90

    Efficiency ratio (c)                          63.35                    65.79                       72.81       65.18              65.03


    Number of banking centers                       481                      483                         483         484                484


    Number of employees -
     full time equivalent                         8,901                    8,907                       8,948       8,918              8,929
    ---------------------                         -----                    -----                       -----       -----              -----

    (a)              June 30, 2014 ratios are
                     estimated.

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

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

    PARENT COMPANY ONLY BALANCE SHEETS (unaudited)

    Comerica
     Incorporated


                                                   June 30,   December 31,     June 30,

    (in
     millions,
     except
     share
     data)                                               2014             2013        2013
    ----------                                           ----             ----        ----


    ASSETS

    Cash and
     due from
     subsidiary
     bank                                                                  $5                   $31      $3

    Short-
     term
     investments
     with
     subsidiary
     bank                                                 796                         482        473

    Other
     short-
     term
     investments                                           96                          96         92

     Investment
     in
     subsidiaries,
     principally
     banks                                              7,369                       7,171      6,976

    Premises
     and
     equipment                                              2                           4          4

    Other
     assets                                               219                         139        137
    -------                                               ---                         ---        ---

      Total
       assets                                                          $8,487                $7,923  $7,685
      -------                                                          ------                ------  ------


     LIABILITIES
     AND
     SHAREHOLDERS'
     EQUITY

    Medium-
     and
     long-
     term
     debt                                                                $960                  $617    $622

    Other
     liabilities                                          158                         156        155
    ------------                                          ---                         ---        ---

      Total
       liabilities                                      1,118                         773        777


    Common
     stock -
     $5 par
     value:

     Authorized
     -
     325,000,000
     shares

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

    Capital
     surplus                                            2,175                       2,179      2,160

     Accumulated
     other
     comprehensive
     loss                                               (304)                      (391)     (538)

    Retained
     earnings                                           6,520                       6,318      6,124

    Less cost
     of                                            shares
     common                                        at
     stock in                                      12/31/13
     treasury                                      and
     -                                             42,999,083
     47,194,492                                    shares
     shares                                        at
     at                                            6/30/13
     6/30/14;
     45,860,786                                       (2,163)                    (2,097)   (1,979)
    --------------                                     ------                      ------     ------

      Total
       shareholders'
       equity                                           7,369                       7,150      6,908
      --------------                                    -----                       -----      -----

      Total
       liabilities
       and
       shareholders'
       equity                                                          $8,487                $7,923  $7,685
      --------------                                                   ------                ------  ------

    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, 2012                                      188.3                              $1,141                           $2,162                      $(413)              $5,928          $(1,879)  $6,939

    Net income                                                    -                     -                      -                        -        277               -              277

    Other comprehensive
     loss, net of tax                                             -                     -                      -                    (125)          -              -            (125)

    Cash dividends
     declared on common
     stock ($0.34 per
     share)                                                       -                     -                      -                        -       (64)              -             (64)

    Purchase of common
     stock                                         (4.1)                         -                  -                     -                  -            (146)      (146)

    Net issuance of common
     stock under employee
     stock plans                                     1.0                          -               (19)                     -               (17)               45           9

    Share-based
     compensation                                                 -                     -                     18                         -          -              -               18

    Other                                                         -                     -                    (1)                        -          -              1                 -
    -----                                                       ---                   ---                    ---                       ---        ---            ---               ---

    BALANCE AT JUNE 30,
     2013                                          185.2                              $1,141                           $2,160                      $(538)              $6,124          $(1,979)  $6,908
    -------------------                            -----                              ------                           ------                       -----               ------           -------   ------


    BALANCE AT DECEMBER
     31, 2013                                      182.3                              $1,141                           $2,179                      $(391)              $6,318          $(2,097)  $7,150

    Net income                                                    -                     -                      -                        -        290               -              290

    Other comprehensive
     income, net of tax                                           -                     -                      -                       87           -              -               87

    Cash dividends
     declared on common
     stock ($0.39 per
     share)                                                       -                     -                      -                        -       (71)              -             (71)

    Purchase of common
     stock                                         (3.0)                         -                  -                     -                  -            (141)      (141)

    Net issuance of common
     stock under employee
     stock plans                                     1.6                          -               (25)                     -               (17)               74          32

    Share-based
     compensation                                                 -                     -                     22                         -          -              -               22

    Other                                                         -                     -                    (1)                        -          -              1                 -

    BALANCE AT JUNE 30,
     2014                                          180.9                              $1,141                           $2,175                      $(304)              $6,520          $(2,163)  $7,369
    -------------------                            -----                              ------                           ------                       -----               ------           -------   ------

    BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)

    Comerica Incorporated and Subsidiaries



    (dollar amounts
     in millions)                       Business           Retail          Wealth

    Three Months
     Ended June 30,
     2014                                 Bank              Bank         Management        Finance     Other         Total
    ---------------                       ----              ----         ----------        -------     -----         -----

    Earnings summary:

    Net interest
     income
     (expense) (FTE)                                  $376                            $149                      $46                 $(160)                  $6         $417

    Provision for
     credit losses                             32                    (4)                          (9)            -          (8)                11

    Noninterest
     income                                    95                     41                            67            15             2                220

    Noninterest
     expenses                                 143                    171                            79             2             9                404

    Provision
     (benefit) for
     income taxes
     (FTE)                                    101                      8                            15          (56)            3                 71
                                              ---                    ---                           ---           ---           ---

    Net income
     (loss)                                           $195                             $15                      $28                  $(91)                  $4         $151
                                                      ----                             ---                      ---                   ----                  ---         ----

    Net credit-
     related charge-
     offs
     (recoveries)                                       $7                              $4                     $(2)            $        -             $     -          $9


    Selected average balances:

    Assets                                         $37,467                          $6,051                   $4,996                $11,056               $5,309      $64,879

    Loans                                  36,529                  5,385                         4,811             -            -            46,725

    Deposits                               27,382                 21,648                         3,827           258           269             53,384


    Statistical data:

    Return on
     average assets
     (a)                                    2.09%                 0.27%                        2.24%          N/M          N/M             0.93%

    Efficiency ratio
     (b)                                    30.43                  89.99                         69.66           N/M          N/M             63.35
                                            -----                  -----                         -----           ---          ---             -----


                                        Business           Retail          Wealth

    Three Months
     Ended March 31,
     2014                                 Bank              Bank         Management        Finance     Other         Total
    ----------------                      ----              ----         ----------        -------     -----         -----

    Earnings summary:

    Net interest
     income
     (expense) (FTE)                                  $371                            $146                      $46                 $(158)                  $6         $411

    Provision for
     credit losses                             16                      2                           (8)            -          (1)                 9

    Noninterest
     income                                    87                     41                            64            14             2                208

    Noninterest
     expenses                                 146                    171                            78             3             8                406

    Provision
     (benefit) for
     income taxes
     (FTE)                                     98                      5                            14          (55)            3                 65
                                              ---                    ---                           ---           ---           ---

    Net income
     (loss)                                           $198                              $9                      $26                  $(92)                $(2)        $139
                                                      ----                             ---                      ---                   ----                  ---         ----

    Net credit-
     related charge-
     offs                                              $11                              $4                     $(3)            $        -             $     -         $12


    Selected average balances:

    Assets                                         $35,896                          $6,052                   $4,939                $11,129               $6,692      $64,708

    Loans                                  34,927                  5,381                         4,767             -            -            45,075

    Deposits                               27,023                 21,361                         3,816           353           217             52,770


    Statistical data:

    Return on
     average assets
     (a)                                    2.20%                 0.16%                        2.15%          N/M          N/M             0.86%

    Efficiency ratio
     (b)                                    31.96                  91.44                         71.31           N/M          N/M             65.79
    ----------------                        -----                  -----                         -----           ---          ---             -----


                                        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                                    94                     46                            65            15             2                222

    Noninterest
     expenses                                 147                    178                            77             3            11                416

    Provision
     (benefit) for
     income taxes
     (FTE)                                    102                      6                            13          (55)          (1)                65
                                              ---                    ---                           ---           ---           ---                ---

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

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


    Selected average balances:

    Assets                                         $36,014                          $5,962                   $4,828                $11,514               $5,388      $63,706

    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)                                    31.48                  87.98                         69.86           N/M          N/M             65.03
    ----------------                        -----                  -----                         -----           ---          ---             -----

    (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

    Three Months
     Ended June 30,
     2014                               Michigan          California        Texas          Markets       & Other           Total
    ---------------                     --------          ----------        -----          -------       -------           -----

    Earnings summary:

    Net interest
     income
     (expense) (FTE)                                 $182                            $176                            $137                   $76                $(154)   $417

    Provision for
     credit losses                            (9)                       14                         22                 (8)          (8)               11

    Noninterest
     income                                    94                        39                         31                  39            17               220

    Noninterest
     expenses                                 159                       101                         89                  44            11               404

    Provision
     (benefit) for
     income taxes
     (FTE)                                     46                        37                         21                  20          (53)               71
                                              ---                       ---                        ---                 ---           ---               ---

    Net income
     (loss)                                           $80                             $63                             $36                   $59                 $(87)   $151
                                                      ---                             ---                             ---                   ---                  ----    ----

    Net credit-
     related charge-
     offs
     (recoveries)                                     $10                              $5                              $2                  $(8)             $      -     $9


    Selected average balances:

    Assets                                        $13,851                         $15,721                         $11,661                $7,281               $16,365 $64,879

    Loans                                  13,482                    15,439                     10,966               6,838             -           46,725

    Deposits                               20,694                    15,370                     10,724               6,069           527            53,384


    Statistical data:

    Return on
     average assets
     (a)                                    1.48%                    1.54%                     1.23%              3.23%           NM            0.93%

    Efficiency ratio
     (b)                                    57.70                     46.78                      52.61               38.94            NM            63.35
    ----------------                        -----                     -----                      -----               -----           ---            -----


                                                                                          Other        Finance

    Three Months
     Ended March 31,
     2014                               Michigan          California        Texas          Markets       & Other           Total
    ----------------                    --------          ----------        -----          -------       -------           -----

    Earnings summary:

    Net interest
     income
     (expense) (FTE)                                 $183                            $172                            $136                   $72                $(152)   $411

    Provision for
     credit losses                              3                        11                          6                (10)          (1)                9

    Noninterest
     income                                    87                        34                         31                  40            16               208

    Noninterest
     expenses                                 161                        96                         90                  48            11               406

    Provision
     (benefit) for
     income taxes
     (FTE)                                     38                        36                         25                  18          (52)               65
                                              ---                       ---                        ---                 ---           ---               ---

    Net income
     (loss)                                           $68                             $63                             $46                   $56                 $(94)   $139
                                                      ---                             ---                             ---                   ---                  ----    ----

    Net credit-
     related charge-
     offs
     (recoveries)                               $       -                            $10                              $6                  $(4)             $      -    $12


    Selected average balances:

    Assets                                        $13,819                         $15,133                         $11,070                $6,865               $17,821 $64,708

    Loans                                  13,473                    14,824                     10,364               6,414             -           45,075

    Deposits                               20,642                    14,782                     10,875               5,901           570            52,770


    Statistical data:

    Return on
     average assets
     (a)                                    1.26%                    1.59%                     1.50%              3.28%          N/M            0.86%

    Efficiency ratio
     (b)                                    59.71                     46.72                      53.83               43.39           N/M            65.79
    ----------------                        -----                     -----                      -----               -----           ---            -----


                                                                                          Other        Finance

    Three Months
     Ended June 30,
     2013                               Michigan          California        Texas          Markets       & Other           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                  47            17               222

    Noninterest
     expenses                                 161                       100                         89                  52            14               416

    Provision
     (benefit) for
     income taxes
     (FTE)                                     41                        37                         24                  19          (56)               65
                                              ---                       ---                        ---                 ---           ---               ---

    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                $7,741               $16,902 $63,706

    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               41.16           N/M            65.03
    ----------------                        -----                     -----                      -----               -----           ---            -----

    (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


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

    (dollar amounts in
     millions)                                  2014         2014           2013             2013        2013
    ------------------                          ----         ----           ----             ----        ----


    Tier 1 Common Capital Ratio:

    Tier 1 and Tier 1
     common capital (a)
     (b)                                                  $7,027                                    $6,962               $6,895             $6,862  $6,800


    Risk-weighted
     assets (a) (b)                           67,009                     65,788                      64,825      64,027             65,220
    ---------------                           ------                     ------                      ------      ------             ------


    Tier 1 and Tier 1
     common risk-based
     capital ratio (b)                        10.49%                    10.58%                     10.64%     10.72%            10.43%


    Basel III Common Equity Tier 1
     Capital Ratio:

    Tier 1 common
     capital (b)                                          $7,027                                    $6,962               $6,895             $6,862  $6,800

    Basel III
     adjustments (c)                             (2)                       (2)                        (6)        (4)                 -
    ----------------                             ---                        ---                         ---         ---                ---

    Basel III common
     equity Tier 1
     capital (c)                               7,025                      6,960                       6,889       6,858              6,800
    ----------------                           -----                      -----                       -----       -----              -----


    Risk-weighted
     assets (a) (b)                                      $67,009                                   $65,788              $64,825            $64,027 $65,220

    Basel III
     adjustments (c)                           1,599                      1,590                       1,754       1,726              2,091
                                               -----                      -----                       -----       -----              -----

    Basel III risk-
     weighted assets
     (c)                                                 $68,608                                   $67,378              $66,579            $65,753 $67,311
    ----------------                                     -------                                   -------              -------            ------- -------


    Tier 1 common
     capital ratio (b)                         10.5%                     10.6%                      10.6%      10.7%             10.4%

    Basel III common
     equity Tier 1
     capital ratio (c)                          10.2                       10.3                        10.3        10.4               10.1
    ------------------                          ----                       ----                        ----        ----               ----


    Tangible Common Equity Ratio:

    Common
     shareholders'
     equity                                               $7,369                                    $7,283               $7,150             $6,966  $6,908

    Less:

    Goodwill                                     635                        635                         635         635                635

    Other intangible
     assets                                       15                         16                          17          18                 20
                                                 ---                        ---                         ---         ---                ---

    Tangible common
     equity                                               $6,719                                    $6,632               $6,498             $6,313  $6,253
    ---------------                                       ------                                    ------               ------             ------  ------


    Total assets                                         $65,325                                   $65,681              $65,224            $64,667 $62,944

    Less:

    Goodwill                                     635                        635                         635         635                635

    Other intangible
     assets                                       15                         16                          17          18                 20
                                                 ---                        ---                         ---         ---                ---

    Tangible assets                                      $64,675                                   $65,030              $64,572            $64,014 $62,289
    ---------------                                      -------                                   -------              -------            ------- -------


    Common equity ratio                       11.28%                    11.09%                     10.97%     10.78%            10.98%

    Tangible common
     equity ratio                              10.39                      10.20                       10.07        9.87              10.04
    ---------------                            -----                      -----                       -----        ----              -----


    Tangible Common Equity per Share of
     Common Stock:

    Common
     shareholders'
     equity                                               $7,369                                    $7,283               $7,150             $6,966  $6,908

    Tangible common
     equity                                    6,719                      6,632                       6,498       6,313              6,253
    ---------------                            -----                      -----                       -----       -----              -----


    Shares of common
     stock outstanding
     (in millions)                               181                        182                         182         184                185
    ------------------                           ---                        ---                         ---         ---                ---


    Common
     shareholders'
     equity per share
     of common stock                                      $40.72                                    $40.09               $39.22             $37.93  $37.31

    Tangible common
     equity per share
     of common stock                           37.12                      36.50                       35.64       34.37              33.77
    -----------------                          -----                      -----                       -----       -----              -----

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

    (b)              June 30, 2014 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,
                     as fully phased-in, 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 common equity Tier 1 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, as fully phased-in. 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.

Logo - http://photos.prnewswire.com/prnh/20010807/CMALOGO

SOURCE Comerica Incorporated