Comerica Reports Third Quarter 2012 Net Income Of $117 Million

        Comerica Reports Third Quarter 2012 Net Income Of $117 Million

Customer Relationship Focus Supports Loan and Deposit Growth

Average Total Loan Growth Continues - Driven by a $717 Million, 3 Percent
Increase in Commercial Loans

Average Deposits Increase to Record Level of $50 Billion

Strong Capital Supports Shareholder Return of $119 Million

PR Newswire

DALLAS, Oct. 17, 2012

DALLAS, Oct. 17, 2012 /PRNewswire/ --Comerica Incorporated (NYSE: CMA) today
reported third quarter 2012 net income of $117 million, compared to $144
million for the second quarter 2012. Earnings per fully diluted share was 61
cents compared to 73 cents for the second quarter 2012. Third quarter 2012
earnings per fully diluted share included restructuring expenses of 8 cents
associated with the acquisition of Sterling Bancshares, Inc. (Sterling)
compared to 2 cents for the second quarter 2012.

(Logo: http://photos.prnewswire.com/prnh/20010807/CMALOGO)

(dollar amounts in millions, except   3rd Qtr '12     2nd Qtr '12  3rd Qtr '11
per share data)
Net interest income (a)               $   427         $   435      $   423
Provision for credit losses           22              19           35
Noninterest income                    197             211          201
Noninterest expenses (b)              449             433          463
Provision for income taxes            36              50           28
Net income                            117             144          98
Net income attributable to common     116             142          97
shares
Diluted income per common share       0.61            0.73         0.51
Average diluted shares (in millions)  191             194          192
Tier 1 common capital ratio (d)       10.32    %  (c) 10.38    %   10.57    %
Tangible common equity ratio (d)      10.25           10.27        10.43

    Included accretion of the purchase discount on the acquired Sterling loan
(a) portfolio of $15 million ($9 million, after tax), $18 million ($11
    million, after tax) and $27 million ($17 million, after tax) in the third
    and second quarter 2012 and the third quarter 2011, respectively.
    Included restructuring expenses of $25 million ($16 million,
    after tax), $8 million ($5 million, after tax) and $33 million
(b) ($21 million, after tax) in the third and second quarter 2012
    and the third quarter 2011, respectively, associated with the
    acquisition of Sterling.
(c) September 30, 2012 ratio is estimated.
(d) See Reconciliation of Non-GAAP Financial Measures.

"Our customer relationship focus supported loan and deposit growth in the
third quarter, despite a slow growing national economy," said Ralph W. Babb
Jr., chairman and chief executive officer. "Average loans were up $369
million, or 1 percent, compared to the second quarter, primarily reflecting an
increase of $717 million, or 3 percent, in commercial loans. This was the
ninth consecutive quarter of average commercial loan growth, resulting in more
than a 20 percent year-over-year increase, including our acquisition of
Sterling in July 2011. The increase in average commercial loans in the third
quarter was primarily driven by increases in Mortgage Banker Finance,
Technology and Life Sciences, and Energy.

"Net interest income declined slightly, reflecting the expected continued
shift in loan portfolio mix and decline in accretion, as well as a decline in
nonaccrual interest received and a leasing residual value adjustment. Lower
loan and securities portfolio yields were partially offset by increased loan
volume.''

"Strong noninterest-bearing deposit growth continued in the third quarter. We
had record average deposits of $50 billion in the third quarter 2012, with an
increase of $1 billion, primarily driven by the increase in
noninterest-bearing deposits.

"Our capital position remained a source of strength. We repurchased 2.9
million shares in the third quarter under our share repurchase program.
Combined with our dividend, we returned $119 million to shareholders in the
third quarter."

Third Quarter 2012 Compared to Second Quarter 2012

  oAverage total loans increased $369 million, or 1 percent, primarily
    reflecting an increase of $717 million, or 3 percent, in commercial loans,
    partially offset by a decrease of $344 million, or 3 percent, in
    commercial real estate loans (commercial mortgage and real estate
    construction loans). The increase in commercial loans was primarily driven
    by increases in Mortgage Banker Finance, Technology and Life Sciences and
    Energy.
  oAverage total deposits increased $1.2 billion, to $49.9 billion, primarily
    reflecting an increase of $1.3 billion, or 7 percent, in
    noninterest-bearing deposits.
  oStrong credit quality continued in the third quarter 2012. Nonaccrual
    loans decreased $54 million, to $665 million at September 30, 2012. Net
    credit-related charge-offs decreased $2 million to $43 million, or 0.39
    percent of average loans, in the third quarter 2012. The provision for
    credit losses was $22 million in the third quarter 2012 compared to $19
    million in the second quarter 2012.
  oNet interest income was $427 million in the third quarter 2012 compared to
    $435 million in the second quarter 2012. The $8 million decrease in net
    interest income was primarily due to a decline in nonaccrual interest
    received($4 million) and a leasing residual value adjustment ($2 million),
    as well as the expected continued shift in the mix of the loan portfolio
    ($6 million), a decrease in the accretion of the purchase discount on the
    acquired Sterling loan portfolio ($3 million) and lower reinvestment
    yields on mortgage-backed investment securities ($2 million), partially
    offset by lower funding costs ($2 million), an increase in loan volumes
    ($3 million) and one more day in the third quarter ($4 million).
  oNoninterest income was $197 million in the third quarter 2012 compared to
    $211 million for the second quarter 2012. The $14 million decrease was
    primarily due to decreases in certain non-customer driven income
    categories. Net securities gains of $6 million and a $5 million annual
    incentive bonus received in the second quarter 2012 were not repeated in
    the third quarter, and net income from principal investing and warrants
    declined $3 million.
  oNoninterest expenses were $449 million in the third quarter 2012, compared
    to $433 million in the second quarter 2012. The $16 million increase
    primarily reflected a $17 million increase in restructuring expenses
    related to the Sterling acquisition.
  oComerica repurchased 2.9 million shares of common stock under the share
    repurchase program in the third quarter 2012. Combined with the dividend,
    and in accordance with the capital plan approved earlier this year, $119
    million, or 101 percent of net income, was returned to shareholders in the
    third quarter (89 percent, excluding the third quarter restructuring
    charge).

Net Interest Income

(dollar amounts in millions)             3rd Qtr '12  2nd Qtr '12  3rd Qtr '11
Net interest income                      $  427       $  435       $  423
Net interest margin                      2.96      %  3.10      %  3.18      %
Selected average balances (a):
Total earning assets                     $  57,801    $  56,653    $  53,243
Total loans                              43,597       43,228       40,098
Total investment securities              9,791        9,728        8,158
Federal Reserve Bank deposits (excess    4,160        3,463        4,800
liquidity)
Total deposits                           49,857       48,679       45,098
Total noninterest-bearing deposits       21,469       20,128       17,511

a)         Average balances in 3rd quarter 2011 included Sterling balances
           from July 28 through September 30, 2011.

  oNet interest income of $427 million in the third quarter 2012 decreased $8
    million compared to the second quarter 2012.

       oSecond quarter 2012 included an unusually high amount of interest
         received on nonaccrual loans, which declined by $4 million in the
         third quarter. In addition, third quarter 2012 included a $2 million
         negative residual value adjustment to assets in the leasing
         portfolio.
       oThe continued shift in the loan portfolio mix reduced net interest
         income $6 million, primarily due to the decrease in higher-yielding
         commercial real estate loans, the increase in lower-yielding
         commercial loans, the maturity of higher-yielding fixed-rate loans
         and positive credit quality migration throughout the loan portfolio.
       oAccretion of the purchase discount on the acquired Sterling loan
         portfolio decreased $3 million, to $15 million in the third quarter
         2012, compared to $18 million in the second quarter 2012. For the
         fourth quarter of 2012, $7 million to $9 million of accretion is
         expected to be recognized.
       oInterest earned on investment securities available-for-sale decreased
         $2 million, as a result of lower reinvestment yields on
         mortgage-backed investment securities.
       oAn increase in loan volumes ($3 million), one more day in the third
         quarter ($4 million) and lower funding costs ($2 million) partially
         offset the items noted above.

  oAverage earning assets increased $1.1 billion in the third quarter 2012,
    compared to the second quarter 2012, primarily reflecting a $697 million
    increase in excess liquidity and a $369 million increase in average loans.
  oAverage deposits increased $1.2 billion in the third quarter 2012,
    compared to the second quarter 2012, primarily due to a $1.3 billion
    increase in average noninterest-bearing deposits, partially offset by a
    decrease in customer certificates of deposit. The rate paid on total
    average interest-bearing deposits decreased 1 basis point, to 24 basis
    points.
  oNet interest margin of 2.96 percent decreased 14 basis points compared to
    the second quarter 2012. In addition to the decrease from the unusually
    high amount of nonaccrual interest received in the second quarter (3 basis
    points) and the negative leasing residual value adjustment in the third
    quarter (2 basis points), net interest margin was negatively impacted by
    lower accretion on the acquired Sterling loan portfolio (2 basis points),
    continued shift in mix in the loan portfolio (3 basis points), lower
    reinvestment yields on mortgage-backed securities (2 basis points) and the
    increase in excess liquidity (3 basis points). Lower funding costs
    partially offset the decline (1 basis point).

Noninterest Income

Noninterest income totaled $197 million for the third quarter 2012 compared to
$211 million for the second quarter 2012. The $14 million decrease was
primarily due to decreases in certain non-customer driven income categories.
Net securities gains of $6 million and a $5 million annual incentive bonus
received from Comerica's third-party credit card provider in the second
quarter 2012 were not repeated in the third quarter, and net income from
principal investing and warrants declined $3 million. Additionally, customer
derivative income decreased $3 million in the third quarter 2012. These
declines were partially offset by a $5 million increase in deferred
compensation asset returns. The increase in deferred compensation asset
returns is offset by an increase in deferred compensation expense in
noninterest expenses.

Noninterest Expenses

Noninterest expenses totaled $449 million in the third quarter 2012 compared
to $433 million in the second quarter 2012. The $16 million increase was
primarily due to increases of $17 million in restructuring expenses and $3
million in salaries expense, partially offset by a decrease of $5 million in
legal expenses. Additionally, noninterest expenses were reduced by $6 million
in the third quarter 2012 and $3 million in the second quarter due to gains on
sales of assets. Restructuring charges related to the Sterling acquisition are
substantially complete. The increase in salaries expense was primarily due to
a $5 million increase in deferred compensation expense, partially offset by a
$3 million decrease in executive incentive compensation.

Credit Quality

"Credit quality continued to be strong," said Babb. "With 39 basis points of
net charge-offs and watch list loans at 8.3 percent of the total loan
portfolio, we are well within our historical normal range."

(dollar amounts in millions)             3rd Qtr '12  2nd Qtr '12  3rd Qtr '11
Net credit-related charge-offs           $   43       $   45       $    77
Net credit-related charge-offs/Average   0.39     %   0.42     %   0.77     %
total loans
Provision for credit losses              $   22       $   19       $    35
Nonperforming loans (a)                  692          747          958
Nonperforming assets (NPAs) (a)          755          814          1,045
NPAs/Total loans and foreclosed property 1.71     %   1.85     %   2.53     %
Loans past due 90 days or more and still $   36       $   43       $    81
accruing
Allowance for loan losses                647          667          767
Allowance for credit losses on           35           36           27
lending-related commitments (b)
Total allowance for credit losses        682          703          794
Allowance for loan losses/Total loans    1.46     %   1.52     %   1.86     %
Allowance for loan losses/Nonperforming  94           89           80
loans

(a) Excludes loans acquired with credit impairment.
(b) Included in "Accrued expenses and other liabilities" on the
    consolidated balance sheets.

  oInternal watch list loans continued the downward trend, declining $182
    million in the third quarter 2012, to $3.7 billion at September 30, 2012.
    Nonperforming assets decreased $59 million to $755 million at September
    30, 2012.
  oDuring the third quarter 2012, $35 million of borrower relationships over
    $2 million were transferred to nonaccrual status, a decrease of $12
    million from the second quarter 2012.

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $63.3 billion and $7.1
billion, respectively, at September 30, 2012, compared to $62.7 billion and
7.0 billion, respectively, at June 30, 2012. There were approximately 191
million common shares outstanding at September 30, 2012. Comerica repurchased
$90 million of common stock (2.9 million shares) under the share repurchase
program during the third quarter 2012. Combined with the dividend of $0.15 per
share in the third quarter 2012, and in accordance with the capital plan
approved earlier this year, share repurchases and dividends returned 101
percent of third quarter 2012 net income to shareholders (89 percent,
excluding the third quarter restructuring charge).

Comerica's tangible common equity ratio was 10.25% at September 30, 2012, a
decrease of 2 basis points from June 30, 2012. The estimated Tier 1 common
capital ratio decreased 6 basis points, to 10.32% at September 30, 2012, from
June 30, 2012.

Full-Year 2012 Outlook Compared to Full-Year 2011

For 2012, management expects the following, assuming a continuation of the
current economic environment:

  oAverage loans increasing 7 percent to 8 percent.
  oNet interest income increasing 4 percent to 5 percent.
  oNet credit-related charge-offs and provision for credit losses declining.
  oNoninterest income increasing 1 percent to 2 percent.
  oNoninterest expenses increasing or decreasing 1 percent.
  oEffective tax rate of approximately 26 percent.

Business Segments

Comerica's operations are strategically aligned into three major business
segments: the Business Bank, the Retail Bank and Wealth Management. The
Finance Division is also reported as a segment. The financial results below
are based on the internal business unit structure of the Corporation and
methodologies in effect at September 30, 2012 and are presented on a fully
taxable equivalent (FTE) basis. The accompanying narrative addresses third
quarter 2012 results compared to second quarter 2012.

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

(dollar amounts in millions) 3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Business Bank                $ 211  88  %  $ 210  84  %  $ 179  86  %
Retail Bank                  10     4      19     8      19     9
Wealth Management            18     8      20     8      11     5
                             239    100 %  249    100 %  209    100 %
Finance                      (103)         (95)          (91)
Other (a)                    (19)          (10)          (20)
 Total                    $ 117         $ 144         $ 98

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

Business Bank

(dollar amounts in millions)   3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Net interest income (FTE)      $    386      $    385      $    363
Provision for credit losses    15            12            18
Noninterest income             76            83            77
Noninterest expenses           144           151           164
Net income                     211           210           179
Net credit-related charge-offs 27            26            40
Selected average balances:
Assets                         34,863        34,376        30,608
Loans                          33,856        33,449        29,957
Deposits                       25,142        24,145        21,759

  oAverage loans increased $407 million, primarily due to increases in
    Mortgage Banker Finance and Middle Market, partially offset by a decrease
    in Commercial Real Estate. The increase in Middle Market primarily
    reflected increases in Energy and Technology and Life Sciences.
  oAverage deposits increased $997 million. The increase was broad-based,
    reflecting increases in Middle Market, Corporate, Commercial Real Estate
    and Mortgage Banker Finance.
  oNet interest income increased $1 million, primarily due to higher loan
    volumes, increased net funds transfer pricing (FTP) credits, as a result
    of higher deposit balances, and one more day in the third quarter,
    partially offset by decreases in loan yields and accretion on the acquired
    Sterling loan portfolio.
  oThe provision for credit losses increased $3 million, primarily reflecting
    increases in Middle Market and Mortgage Banker Finance, partially offset
    by a decrease in Commercial Real Estate. The increase in Middle Market
    primarily reflected increases in Technology and Life Sciences, National
    Dealer Services and Energy, partially offset by a decrease in general
    Middle Market.
  oNoninterest income decreased $7 million, primarily due to decreases in
    commercial lending fees and warrant income.
  oNoninterest expenses decreased $7 million, primarily due to decreases in
    net allocated corporate overhead expense and processing charges, and a
    third quarter gain on sale of assets; partially offset by an increase in
    legal expenses.

Retail Bank

(dollar amounts in millions)   3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Net interest income (FTE)      $    161      $    161      $   173
Provision for credit losses    6             3             16
Noninterest income             41            47            47
Noninterest expenses           181           177           175
Net income (loss)              10            19            19
Net credit-related charge-offs 13            9             28
Selected average balances:
Assets                         5,964         5,946         5,985
Loans                          5,265         5,250         5,483
Deposits                       20,682        20,525        19,792

  oAverage deposits increased $157 million, primarily due to an increase in
    Small Business.|
  oThe provision for credit losses increased $3 million, primarily due to an
    increase in Small Business.
  oNoninterest income decreased $6 million, primarily due to a $5 million
    annual incentive bonus received in the second quarter 2012 from Comerica's
    third-party credit card provider.
  oNoninterest expenses increased $4 million, primarily due to small
    increases in several noninterest expense categories.

Wealth Management

(dollar amounts in millions)   3rd Qtr '12   2nd Qtr '12    3rd Qtr '11
Net interest income (FTE)      $     47      $     46       $     45
Provision for credit losses    3             2              7
Noninterest income             62            66             56
Noninterest expenses           78            79             77
Net income                     18            20             11
Net credit-related charge-offs 3             10             9
Selected average balances:
Assets                         4,566         4,604          4,674
Loans                          4,476         4,529          4,658
Deposits                       3,667         3,640          3,198

  oAverage loans decreased $53 million, primarily due to a decrease in
    Private Banking. |
  oAverage deposits increased $27 million, primarily due to an increase in
    Private Banking.
  oNoninterest income decreased $4 million, primarily due a decrease in gains
    on the sale of auction-rate securities.

Geographic Market Segments

Comerica also provides market segment results for four primary geographic
markets: Midwest, Western, Texas and Florida. In addition to the four primary
geographic markets, Other Markets and International are also reported as
market segments. The financial results below are based on methodologies in
effect at September 30, 2012 and are presented on a fully taxable equivalent
(FTE) basis. The accompanying narrative addresses third quarter 2012 results
compared to second quarter 2012.

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

(dollar amounts in millions) 3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Midwest                      $ 71   30  %  $ 75   31  %  $  60  28  %
Western                      70     29     69     27     50     23
Texas                        45     19     51     20     64     31
Florida                      (1)    —      (5)    (2)    1      1
Other Markets                41     17     47     19     22     11
International                13     5      12     5      12     6
                             239    100 %  249    100 %  209    100 %
Finance & Other (a)          (122)         (105)         (111)
 Total                    $ 117         $ 144         $  98

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

Midwest Market

(dollar amounts in millions)   3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Net interest income (FTE)      $    194      $    196      $    199
Provision for credit losses    2             1             20
Noninterest income             95            96            96
Noninterest expenses           175           177           183
Net income                     71            75            60
Net credit-related charge-offs 12            10            33
Selected average balances:
Assets                         13,784        14,028        14,118
Loans                          13,468        13,766        13,873
Deposits                       19,628        19,227        18,510

  oAverage loans decreased $298 million, primarily due to decreases in Middle
    Market, Commercial Real Estate, Corporate, and Private Banking.
  oAverage deposits increased $401 million, primarily due to increases in
    Corporate, Middle Market and Small Business, partially offset by a
    decrease in Personal Banking.
  oNet interest income decreased $2 million, primarily due to decreases in
    loan volumes and yields, partially offset by one more day in the third
    quarter 2012 and an increase in net FTP credits, primarily as a result of
    higher deposit balances and lower loan balances.

Western Market

(dollar amounts in millions)   3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Net interest income (FTE)      $    181      $    177      $    166
Provision for credit losses    —             1             13
Noninterest income             34            37            32
Noninterest expenses           105           104           106
Net income                     70            69            50
Net credit-related charge-offs 10            12            32
Selected average balances:
Assets                         13,442        13,170        12,110
Loans                          13,163        12,920        11,889
Deposits                       15,192        14,371        12,975

  oAverage loans increased $243 million, primarily due to increases in Middle
    Market and Corporate. The increase in Middle Market primarily reflected
    increases in Technology and Life Sciences and National Dealer Services.
  oAverage deposits increased $821 million, primarily due to increases in
    Middle Market, Commercial Real Estate and Small Business. The increase in
    Middle Market was broad-based.
  oNet interest income increased $4 million, primarily due to an increase in
    loan volumes, one more day in the third quarter 2012, and an increase in
    net FTP credits as a result of higher deposit balances.
  oNoninterest income decreased $3 million, primarily due to a decrease in
    warrant income.

Texas Market

(dollar amounts in millions)   3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Net interest income (FTE)      $    139      $    143      $    143
Provision for credit losses    10            7             (8)
Noninterest income             30            31            29
Noninterest expenses           89            88            81
Net income                     45            51            64
Net credit-related charge-offs 7             4             2
Selected average balances:
Assets                         10,327        10,270        8,510
Loans                          9,585         9,506         8,145
Deposits                       9,941         10,185        8,865

  oAverage loans increased $79 million, primarily due to an increase in
    Middle Market, partially offset by a decrease in Commercial Real Estate.
    The increase in Middle Market was primarily due to an increase in Energy.
  oAverage deposits decreased $244 million, primarily reflecting decreases in
    Middle Market, Small Business and Private Banking. The decrease in Middle
    Market primarily reflected decreases in Technology and Life Sciences and
    Energy.
  oNet interest income decreased $4 million, primarily due to a decrease in
    accretion on the acquired Sterling loan portfolio and lower loan yields,
    partially offset by an increase in loan volumes and one more day in the
    third quarter 2012.
  oThe provision for credit losses increased $3 million, primarily due to an
    increase in Private Banking.

Florida Market

(dollar amounts in millions)   3rd Qtr '12   2nd Qtr '12   3rd Qtr '11
Net interest income (FTE)      $     10      $     11      $     11
Provision for credit losses    5             11            2
Noninterest income             3             4             4
Noninterest expenses           10            11            11
Net income                     (1)           (5)           1
Net credit-related charge-offs 9             10            5
Selected average balances:
Assets                         1,309         1,407         1,450
Loans                          1,328         1,429         1,477
Deposits                       512           446           404

  oAverage loans decreased $101 million, primarily due to decreases in
    Commercial Real Estate and Private Banking.
  oAverage deposits increased $66 million, primarily due to an increase in
    Private Banking.
  oThe provision for credit losses decreased $6 million, primarily due to
    decreases in Private Banking and Middle Market.

Conference Call and Webcast

Comerica will host a conference call to review third quarter 2012 financial
results at 7 a.m. CT Wednesday, October 17, 2012. Interested parties may
access the conference call by calling (800) 309-2262 or (706) 679-5261 (event
ID No. 31764718). The call and supplemental financial information can also be
accessed via Comerica's "Investor Relations" page at www.comerica.com. A
telephone replay will be available approximately two hours following the
conference call through October 31, 2012. The conference call replay can be
accessed by calling (855) 859-2056 or (404) 537-3406 (event ID No. 31764718).
A replay of the Webcast can also be accessed via Comerica's "Investor
Relations" page at www.comerica.com.

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

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

Forward-looking Statements

Any statements in this news release that are not historical facts are
forward-looking statements as defined in the Private Securities Litigation
Reform Act of 1995. Words such as "anticipates," "believes," "contemplates,"
"feels," "expects," "estimates," "seeks," "strives," "plans," "intends,"
"outlook," "forecast," "position," "target," "mission," "assume,"
"achievable," "potential," "strategy," "goal," "aspiration," "opportunity,"
"initiative," "outcome," "continue," "remain," "maintain," "on course,"
"trend," "objective," "looks forward" and variations of such words and similar
expressions, or future or conditional verbs such as "will," "would," "should,"
"could," "might," "can," "may" or similar expressions, as they relate to
Comerica or its management, are intended to identify forward-looking
statements. These forward-looking statements are predicated on the beliefs and
assumptions of Comerica's management based on information known to Comerica's
management as of the date of this news release and do not purport to speak as
of any other date. Forward-looking statements may include descriptions of
plans and objectives of Comerica's management for future or past operations,
products or services, and forecasts of Comerica's revenue, earnings or other
measures of economic performance, including statements of profitability,
business segments and subsidiaries, estimates of credit trends and global
stability. Such statements reflect the view of Comerica's management as of
this date with respect to future events and are subject to risks and
uncertainties. Should one or more of these risks materialize or should
underlying beliefs or assumptions prove incorrect, Comerica's actual results
could differ materially from those discussed. Factors that could cause or
contribute to such differences are changes in general economic, political or
industry conditions; changes in monetary and fiscal policies, including the
interest rate policies of the Federal Reserve Board; volatility and
disruptions in global capital and credit markets; changes in Comerica's credit
rating; the interdependence of financial service companies; changes in
regulation or oversight; unfavorable developments concerning credit quality;
the acquisition of Sterling Bancshares, Inc., or any future acquisitions; the
effects of more stringent capital or liquidity requirements; declines or other
changes in the businesses or industries of Comerica's customers; the
implementation of Comerica's strategies and business models, including the
implementation of revenue enhancements and efficiency improvements; Comerica's
ability to utilize technology to efficiently and effectively develop, market
and deliver new products and services; operational difficulties, failure of
technology infrastructure or information security incidents; changes in the
financial markets, including fluctuations in interest rates and their impact
on deposit pricing; competitive product and pricing pressures among financial
institutions within Comerica's markets; changes in customer behavior;
management's ability to maintain and expand customer relationships;
management's ability to retain key officers and employees; the impact of legal
and regulatory proceedings; the effectiveness of methods of reducing risk
exposures; the effects of terrorist activities and other hostilities; the
effects of catastrophic events including, but not limited to, hurricanes,
tornadoes, earthquakes, fires, droughts and floods; changes in accounting
standards and the critical nature of Comerica's accounting policies. Comerica
cautions that the foregoing list of factors is not exclusive. For discussion
of factors that may cause actual results to differ from expectations, please
refer to our filings with the Securities and Exchange Commission. In
particular, please refer to "Item 1A. Risk Factors" beginning on page 12 of
Comerica's Annual Report on Form 10-K for the year ended December 31, 2011.
Forward-looking statements speak only as of the date they are made. Comerica
does not undertake to update forward-looking statements to reflect facts,
circumstances, assumptions or events that occur after the date the
forward-looking statements are made. For any forward-looking statements made
in this news release or in any documents, Comerica claims the protection of
the safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995.

CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)
Comerica Incorporated and Subsidiaries
                       Three Months Ended                Nine Months Ended
                       September  June 30,   September   September 30,
                       30,                   30,
(in millions, except   2012       2012       2011        2012       2011
per share data)
PER COMMON SHARE AND
COMMON STOCK DATA
Diluted net income     $ 0.61     $ 0.73     $ 0.51      $ 2.00     $ 1.61
Cash dividends         0.15       0.15       0.10        0.40       0.30
declared
Common shareholders'   37.01      36.18      34.94
equity (at period end)
Tangible common equity 33.56      32.76      31.57
(at period end) (a)
Average diluted shares 191,492    194,487    191,634     193,991    182,602
(in thousands)
KEY RATIOS
Return on average
common shareholders'   6.67     % 8.22     % 5.91     %  7.46     % 6.44     %
equity
Return on average      0.74       0.93       0.67        0.84       0.71
assets
Tier 1 common capital  10.32      10.38      10.57
ratio (a) (b)
Tier 1 risk-based      10.32      10.38      10.65
capital ratio (b)
Total risk-based       13.63      13.90      14.84
capital ratio (b)
Leverage ratio (b)     10.71      10.92      11.41
Tangible common equity 10.25      10.27      10.43
ratio (a)
AVERAGE BALANCES
Commercial loans       $ 26,700   $ 25,983   $ 22,127    $ 25,810   $ 21,769
Real estate
construction loans:
Commercial Real Estate 999        1,035      1,269       1,029      1,501
business line (c)
Other business lines   390        385        430         391        417
(d)
Total real estate      1,389      1,420      1,699       1,420      1,918
construction loans
Commercial mortgage
loans:
Commercial Real Estate 2,140      2,443      2,244       2,367      2,046
business line (c)
Other business lines   7,530      7,540      8,031       7,584      7,856
(d)
Total commercial       9,670      9,983      10,275      9,951      9,902
mortgage loans
Lease financing        852        869        936         873        960
International loans    1,302      1,265      1,163       1,257      1,212
Residential mortgage   1,488      1,487      1,606       1,498      1,577
loans
Consumer loans         2,196      2,221      2,292       2,225      2,272
Total loans            43,597     43,228     40,098      43,034     39,610
Earning assets         57,801     56,653     53,243      56,884     50,923
Total assets           63,276     61,950     58,238      62,284     55,526
Noninterest-bearing    21,469     20,128     17,511      20,415     16,259
deposits
Interest-bearing       28,388     28,551     27,587      28,538     26,149
deposits
Total deposits         49,857     48,679     45,098      48,953     42,408
Common shareholders'   7,045      7,002      6,633       6,996      6,150
equity
NET INTEREST INCOME
Net interest income
(fully taxable         $ 428      $ 435      $ 424       $ 1,306    $ 1,212
equivalent basis)
Fully taxable          1          —          1           2          3
equivalent adjustment
Net interest margin
(fully taxable         2.96     % 3.10     % 3.18     %  3.08     % 3.19     %
equivalent basis)
CREDIT QUALITY
Nonaccrual loans       $ 665      $ 719      $ 929
Reduced-rate loans     27         28         29
Total nonperforming    692        747        958
loans (e)
Foreclosed property    63         67         87
Total nonperforming    755        814        1,045
assets (e)
Loans past due 90 days
or more and still      36         43         81
accruing
Gross loan charge-offs 59         64         90          $ 185      $ 338
Loan recoveries        16         19         13          52         70
Net loan charge-offs   43         45         77          133        268
Allowance for loan     647        667        767
losses
Allowance for credit
losses on              35         36         27
lending-related
commitments
Total allowance for    682        703        794
credit losses
Allowance for loan
losses as a percentage 1.46     % 1.52     % 1.86     %
of total loans
Net loan charge-offs
as a percentage of     0.39       0.42       0.77        0.41     % 0.90     %
average total loans
(f)
Nonperforming assets
as a percentage of
total loans and        1.71       1.85       2.53
foreclosed property
(e)
Allowance for loan
losses as a percentage 94         89         80
of total nonperforming
loans

(a) See Reconciliation of Non-GAAP Financial Measures.
(b) September 30, 2012 ratios are estimated.
(c) Primarily loans to real estate investors and developers.
(d) Primarily loans secured by owner-occupied real estate.
(e) Excludes loans acquired with credit-impairment.
(f) Lending-related commitment charge-offs were zero in all
    periods presented.

CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries
                          September 30, June 30,    December 31, September 30,
(in millions, except      2012          2012        2011         2011
share data)
                          (unaudited)   (unaudited)              (unaudited)
ASSETS
Cash and due from banks   $   933       $  1,076    $  982       $   981
Interest-bearing deposits 3,005         3,065       2,574        4,217
with banks
Other short-term          146           170         149          137
investments
Investment securities     10,569        9,940       10,104       9,732
available-for-sale
Commercial loans          27,460        27,016      24,996       23,113
Real estate construction  1,392         1,377       1,533        1,648
loans
Commercial mortgage loans 9,559         9,830       10,264       10,539
Lease financing           837           858         905          927
International loans       1,277         1,224       1,170        1,046
Residential mortgage      1,495         1,469       1,526        1,643
loans
Consumer loans            2,174         2,218       2,285        2,309
Total loans               44,194        43,992      42,679       41,225
Less allowance for loan   (647)         (667)       (726)        (767)
losses
Net loans                 43,547        43,325      41,953       40,458
Premises and equipment    625           667         675          685
Accrued income and other  4,489         4,407       4,571        4,678
assets
Total assets              $   63,314    $  62,650   $  61,008    $   60,888
LIABILITIES AND
SHAREHOLDERS' EQUITY
Noninterest-bearing       $   21,753    $  21,330   $  19,764    $   19,116
deposits
Money market and
interest-bearing checking 20,407        20,008      20,311       20,237
deposits
Savings deposits          1,589         1,629       1,524        1,771
Customer certificates of  5,742         6,045       5,808        5,980
deposit
Other time deposits       —             —           —            45
Foreign office time       486           376         348          303
deposits
Total interest-bearing    28,224        28,058      27,991       28,336
deposits
Total deposits            49,977        49,388      47,755       47,452
Short-term borrowings     63            83          70           164
Accrued expenses and      1,450         1,409       1,371        1,312
other liabilities
Medium- and long-term     4,740         4,742       4,944        5,009
debt
Total liabilities         56,230        55,622      54,140       53,937
Common stock - $5 par
value:
Authorized - 325,000,000
shares
Issued - 228,164,824      1,141         1,141       1,141        1,141
shares
Capital surplus           2,153         2,144       2,170        2,162
Accumulated other         (253)         (301)       (356)        (230)
comprehensive loss
Retained earnings         5,831         5,744       5,546        5,471
Less cost of common stock
in treasury - 36,790,174
shares at 9/30/12,
33,889,392 shares at      (1,788)       (1,700)     (1,633)      (1,593)
6/30/12, 30,831,076
shares at 12/31/11 and
29,238,425 shares at
9/30/11
Total shareholders'       7,084         7,028       6,868        6,951
equity
Total liabilities and     $   63,314    $  62,650   $  61,008    $   60,888
shareholders' equity

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
Comerica Incorporated and Subsidiaries
                                         Three Months Ended  Nine Months Ended
                                         September 30,       September 30,
(in millions, except per share data)     2012       2011     2012     2011
INTEREST INCOME
Interest and fees on loans               $  400     $ 405    $ 1,219  $ 1,149
Interest on investment securities        57         54       179      170
Interest on short-term investments       3          4        9        9
Total interest income                    460        463      1,407    1,328
INTEREST EXPENSE
Interest on deposits                     17         24       54       69
Interest on medium- and long-term debt   16         16       49       50
Total interest expense                   33         40       103      119
Net interest income                      427        423      1,304    1,209
Provision for credit losses              22         35       63       126
Net interest income after provision for  405        388      1,241    1,083
credit losses
NONINTEREST INCOME
Service charges on deposit accounts      53         53       162      156
Fiduciary income                         39         37       116      115
Commercial lending fees                  22         22       71       64
Letter of credit fees                    19         19       54       55
Card fees                                12         17       35       47
Foreign exchange income                  9          11       29       30
Bank-owned life insurance                10         10       30       27
Brokerage fees                           5          5        14       17
Net securities gains                     —          12       11       18
Other noninterest income                 28         15       92       81
Total noninterest income                 197        201      614      610
NONINTEREST EXPENSES
Salaries                                 192        192      582      565
Employee benefits                        61         53       181      153
Total salaries and employee benefits     253        245      763      718
Net occupancy expense                    40         44       121      122
Equipment expense                        17         17       50       49
Outside processing fee expense           27         25       79       74
Software expense                         23         22       67       65
Merger and restructuring charges         25         33       33       38
FDIC insurance expense                   9          8        29       35
Advertising expense                      7          7        21       21
Other real estate expense                2          5        6        19
Other noninterest expenses               46         57       161      151
Total noninterest expenses               449        463      1,330    1,292
Income before income taxes               153        126      525      401
Provision for income taxes               36         28       134      104
NET INCOME                               117        98       391      297
Less income allocated to participating   1          1        4        3
securities
Net income attributable to common shares $  116     $ 97     $ 387    $ 294
Earnings per common share:
Basic                                    $  0.61    $ 0.51   $ 2.00   $ 1.63
Diluted                                  0.61       0.51     2.00     1.61
Comprehensive income                     165        176      494      456
Cash dividends declared on common stock  29         20       78       55
Cash dividends declared per common share 0.15       0.10     0.40     0.30

CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
Comerica Incorporated and Subsidiaries
              Third   Second  First   Fourth  Third    Third Quarter 2012 Compared To:
              Quarter Quarter Quarter Quarter Quarter  Second Quarter     Third Quarter
                                                       2012               2011
(in millions,
except per    2012    2012    2012    2011    2011     Amount    Percent  Amount  Percent
share data)
INTEREST
INCOME
Interest and  $ 400   $ 408   $ 411   $ 415   $ 405    $ (8)     (2)   %  $ (5)   (1)   %
fees on loans
Interest on
investment    57      59      63      63      54       (2)       (4)      3       4
securities
Interest on
short-term    3       3       3       3       4        —         —        (1)     (5)
investments
Total
interest      460     470     477     481     463      (10)      (2)      (3)     (1)
income
INTEREST
EXPENSE
Interest on   17      18      19      21      24       (1)       (4)      (7)     (26)
deposits
Interest on
medium- and   16      17      16      16      16       (1)       (5)      —       —
long-term
debt
Total
interest      33      35      35      37      40       (2)       (5)      (7)     (15)
expense
Net interest  427     435     442     444     423      (8)       (2)      4       1
income
Provision for 22      19      22      18      35       3         14       (13)    (38)
credit losses
Net interest
income after
provision     405     416     420     426     388      (11)      (2)      17      4

for credit
losses
NONINTEREST
INCOME
Service
charges on    53      53      56      52      53       —         —        —       —
deposit
accounts
Fiduciary     39      39      38      36      37       —         —        2       7
income
Commercial    22      24      25      23      22       (2)       (10)     —       —
lending fees
Letter of     19      18      17      18      19       1         8        —       —
credit fees
Card fees     12      12      11      11      17       —         —        (5)     (30)
Foreign
exchange      9       10      10      10      11       (1)       (3)      (2)     (15)
income
Bank-owned
life          10      10      10      10      10       —         —        —       —
insurance
Brokerage     5       4       5       5       5        1         2        —       —
fees
Net
securities    —       6       5       (4)     12       (6)       N/M      (12)    N/M
gains
(losses)
Other
noninterest   28      35      29      21      15       (7)       (18)     13      89
income
Total
noninterest   197     211     206     182     201      (14)      (7)      (4)     (2)
income
NONINTEREST
EXPENSES
Salaries      192     189     201     205     192      3         1        —       —
Employee      61      61      59      52      53       —         —        8       16
benefits
Total
salaries and  253     250     260     257     245      3         1        8       3
employee
benefits
Net occupancy 40      40      41      47      44       —         —        (4)     (7)
expense
Equipment     17      16      17      17      17       1         2        —       —
expense
Outside
processing    27      26      26      27      25       1         —        2       4
fee expense
Software      23      21      23      23      22       2         6        1       5
expense
Merger and
restructuring 25      8       —       37      33       17        N/M      (8)     (22)
charges
FDIC
insurance     9       10      10      8       8        (1)       —        1       28
expense
Advertising   7       7       7       7       7        —         —        —       —
expense
Other real
estate        2       —       4       3       5        2         N/M      (3)     (65)
expense
Other
noninterest   46      55      60      53      57       (9)       (15)     (11)    (21)
expenses
Total
noninterest   449     433     448     479     463      16        4        (14)    (3)
expenses
Income before 153     194     178     129     126      (41)      (21)     27      23
income taxes
Provision for 36      50      48      33      28       (14)      (27)     8       33
income taxes
NET INCOME    117     144     130     96      98       (27)      (18)     19      20
Less income
allocated to  1       2       1       1       1        (1)       (12)     —       —
participating
securities
Net income
attributable  $ 116   $ 142   $ 129   $ 95    $ 97     $ (26)    (18)  %  $ 19    20    %
to common
shares
Earnings per
common share:
Basic         $ 0.61  $ 0.73  $ 0.66  $ 0.48  $ 0.51   $ (0.12)  (16)  %  $ 0.10  20    %
Diluted       0.61    0.73    0.66    0.48    0.51     (0.12)    (16)     0.10    20
Comprehensive 165     169     160     (30)    176      (4)       (2)      (11)    (6)
income (loss)
Cash
dividends     29      29      20      20      20       —         —        9       45
declared on
common stock
Cash
dividends     0.15    0.15    0.10    0.10    0.10     —         —        0.05    50
declared per
common share

N/M - Not Meaningful

ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)
Comerica Incorporated and Subsidiaries
                                      2012                     2011
(in millions)                         3rd Qtr 2nd Qtr 1st Qtr  4th Qtr 3rd Qtr
Balance at beginning of period        $ 667   $ 704   $ 726    $ 767   $ 806
Loan charge-offs:
Commercial                            19      26      25       28      33
Real estate construction:
Commercial Real Estate business line  2       2       2        4       11
(a)
Other business lines (b)              —       1       —        1       —
Total real estate construction        2       3       2        5       11
Commercial mortgage:
Commercial Real Estate business line  12      16      13       17      12
(a)
Other business lines (b)              13      11      13       24      21
Total commercial mortgage             25      27      26       41      33
International                         1       —       2        2       —
Residential mortgage                  6       3       2        2       4
Consumer                              6       5       5        7       9
Total loan charge-offs                59      64      62       85      90
Recoveries on loans previously
charged-off:
Commercial                            7       10      9        11      5
Real estate construction              3       1       1        4       3
Commercial mortgage                   5       4       3        9       3
International                         —       —       1        —       —
Residential mortgage                  —       —       1        —       1
Consumer                              1       4       2        1       1
Total recoveries                      16      19      17       25      13
Net loan charge-offs                  43      45      45       60      77
Provision for loan losses             23      8       23       19      38
Balance at end of period              $ 647   $ 667   $ 704    $ 726   $ 767
Allowance for loan losses as a        1.46  % 1.52  % 1.64  %  1.70  % 1.86  %
percentage of total loans
Net loan charge-offs as a percentage  0.39    0.42    0.43     0.57    0.77
of average total loans

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

ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS
(unaudited)
Comerica Incorporated and Subsidiaries
                                      2012                     2011
(in millions)                         3rd Qtr 2nd Qtr 1st Qtr  4th Qtr 3rd Qtr
Balance at beginning of period        $  36   $  25   $  26    $  27   $  30
Add: Provision for credit losses on   (1)     11      (1)      (1)     (3)
lending-related commitments
Balance at end of period              $  35   $  36   $  25    $  26   $  27
Unfunded lending-related commitments  $  —    $  —    $  —     $  —    $  —
sold

NONPERFORMING ASSETS (unaudited)
Comerica Incorporated and Subsidiaries
                                    2012                     2011
(in millions)                       3rd Qtr 2nd Qtr 1st Qtr  4th Qtr 3rd Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST
DUE LOANS
Nonaccrual loans:
Business loans:
Commercial                          $ 154   $ 175   $ 205    $ 237   $ 258
Real estate construction:
Commercial Real Estate business     45      60      77       93      109
line (a)
Other business lines (b)            6       9       8        8       3
Total real estate construction      51      69      85       101     112
Commercial mortgage:
Commercial Real Estate business     137     155     174      159     198
line (a)
Other business lines (b)            219     220     275      268     275
Total commercial mortgage           356     375     449      427     473
Lease financing                     3       4       4        5       5
International                       —       —       4        8       7
Total nonaccrual business loans     564     623     747      778     855
Retail loans:
Residential mortgage                69      76      69       71      65
Consumer:
Home equity                         28      16      9        5       4
Other consumer                      4       4       5        6       5
Total consumer                      32      20      14       11      9
Total nonaccrual retail loans       101     96      83       82      74
Total nonaccrual loans              665     719     830      860     929
Reduced-rate loans                  27      28      26       27      29
Total nonperforming loans (c)       692     747     856      887     958
Foreclosed property                 63      67      67       94      87
Total nonperforming assets (c)      $ 755   $ 814   $ 923    $ 981   $ 1,045
Nonperforming loans as a percentage 1.57  % 1.70  % 1.99  %  2.08  % 2.32    %
of total loans
Nonperforming assets as a
percentage of total loans           1.71    1.85    2.14     2.29    2.53

and foreclosed property
Allowance for loan losses as a
percentage of total                 94      89      82       82      80

nonperforming loans
Loans past due 90 days or more and  $ 36    $ 43    $ 50     $ 58    $ 81
still accruing
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of    $ 719   $ 830   $ 860    $ 929   $ 941
period
Loans transferred to nonaccrual (d) 35      47      69       99      130
Nonaccrual business loan gross      (46)    (56)    (55)     (76)    (76)
charge-offs (e)
Loans transferred to accrual status —       (41)    —        —       (15)
(d)
Nonaccrual business loans sold (f)  (20)    (16)    (7)      (19)    (15)
Payments/Other (g)                  (23)    (45)    (37)     (73)    (36)
Nonaccrual loans at end of period   $ 665   $ 719   $ 830    $ 860   $ 929
(a) Primarily loans to real estate investors and developers.
(b) Primarily loans secured by owner-occupied real estate.
(c) Excludes loans acquired with credit impairment.
(d) Based on an analysis of nonaccrual loans with book balances greater than
$2 million.
(e) Analysis of gross loan charge-offs:
Nonaccrual business loans           $ 46    $ 56    $ 55     $ 76    $ 76
Performing watch list loans         1       —       —        —       1
Consumer and residential mortgage   12      8       7        9       13
loans
Total gross loan charge-offs        $ 59    $ 64    $ 62     $ 85    $ 90
(f) Analysis of loans sold:
Nonaccrual business loans           $ 20    $ 16    $ 7      $ 19    $ 15
Performing watch list loans         42      7       11       —       16
Total loans sold                    $ 62    $ 23    $ 18     $ 19    $ 31

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

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
Comerica Incorporated and Subsidiaries
                        Nine Months Ended
                        September 30, 2012          September 30, 2011
                        Average            Average  Average            Average
(dollar amounts in      Balance   Interest Rate     Balance   Interest Rate
millions)
Commercial loans        $ 25,810  $ 673    3.48  %  $ 21,769  $ 604    3.70  %
Real estate             1,420     47       4.48     1,918     59       4.12
construction loans
Commercial mortgage     9,951     337      4.51     9,902     306      4.12
loans
Lease financing         873       19       2.92     960       25       3.53
International loans     1,257     35       3.73     1,212     35       3.89
Residential mortgage    1,498     52       4.66     1,577     63       5.34
loans
Consumer loans          2,225     57       3.44     2,272     59       3.47
Total loans (a)         43,034    1,220    3.79     39,610    1,151    3.88
Auction-rate securities 294       2        0.78     497       3        0.75
available-for-sale
Other investment
securities              9,509     178      2.57     7,131     168      3.20
available-for-sale
Total investment
securities              9,803     180      2.51     7,628     171      3.03
available-for-sale
Interest-bearing        3,909     8        0.26     3,557     7        0.24
deposits with banks (b)
Other short-term        138       1        1.80     128       2        2.14
investments
Total earning assets    56,884    1,409    3.32     50,923    1,331    3.50
Cash and due from banks 967                         908
Allowance for loan      (707)                       (860)
losses
Accrued income and      5,140                       4,555
other assets
Total assets            $ 62,284                    $ 55,526
Money market and
interest-bearing        $ 20,583  26       0.18     $ 18,539  36       0.26
checking deposits
Savings deposits        1,589     1        0.06     1,516     1        0.11
Customer certificates   5,993     25       0.54     5,666     30       0.70
of deposit
Foreign office and      373       2        0.64     428       2        0.50
other time deposits
Total interest-bearing  28,538    54       0.25     26,149    69       0.35
deposits
Short-term borrowings   78        —        0.12     137       —        0.15
Medium- and long-term   4,846     49       1.36     5,702     50       1.17
debt
Total interest-bearing  33,462    103      0.41     31,988    119      0.50
sources
Noninterest-bearing     20,415                      16,259
deposits
Accrued expenses and    1,411                       1,129
other liabilities
Total shareholders'     6,996                       6,150
equity
Total liabilities and   $ 62,284                    $ 55,526
shareholders' equity
Net interest
income/rate spread                $ 1,306  2.91               $ 1,212  3.00
(FTE)
FTE adjustment                    $ 2                         $ 3
Impact of net
noninterest-bearing                        0.17                        0.19
sources of funds
Net interest margin (as
a percentage of average                    3.08  %                     3.19  %
earning assets) (FTE)
(a) (b)

       Accretion of the purchase discount on the acquired loan portfolio of
       $58 million and $27 million in the nine months ended September 30, 2012
(a)  and 2011, respectively, increased the net interest margin by 14 basis
       points and 7 basis points in the nine months ended September 30, 2012
       and 2011, respectively.
       Excess liquidity, represented by average balances deposited with the
(b) Federal Reserve Bank, reduced the net interest margin by 20 basis
       points and 22 basis points in the nine months ended September 30, 2012
       and 2011, respectively.

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
Comerica Incorporated and Subsidiaries
                    Three Months Ended
                    September 30, 2012          June 30, 2012               September 30, 2011
                    Average            Average  Average            Average  Average            Average
(dollar amounts in  Balance   Interest Rate     Balance   Interest Rate     Balance   Interest Rate
millions)
Commercial loans    $ 26,700  $  227   3.38  %  $ 25,983  $  227   3.52  %  $ 22,127  $  207   3.70  %
Real estate         1,389     15       4.36     1,420     15       4.50     1,699     23       5.28
construction loans
Commercial mortgage 9,670     106      4.34     9,983     112      4.46     10,275    115      4.42
loans
Lease financing     852       4        2.04     869       7        3.28     936       8        3.46
International loans 1,302     12       3.77     1,265     12       3.66     1,163     11       4.01
Residential         1,488     17       4.67     1,487     17       4.53     1,606     21       5.30
mortgage loans
Consumer loans      2,196     19       3.44     2,221     18       3.37     2,292     20       3.56
Total loans (a)     43,597    400      3.66     43,228    408      3.79     40,098    405      4.01
Auction-rate
securities          234       1        0.97     296       —        0.82     437       1        0.63
available-for-sale
Other investment
securities          9,557     57       2.42     9,432     59       2.55     7,721     54       2.87
available-for-sale
Total investment
securities          9,791     58       2.38     9,728     59       2.49     8,158     55       2.74
available-for-sale
Interest-bearing
deposits with banks 4,276     3        0.26     3,556     3        0.26     4,851     3        0.23
(b)
Other short-term    137       —        1.88     141       —        1.55     136       1        2.30
investments
Total earning       57,801    461      3.19     56,653    470      3.35     53,243    464      3.47
assets
Cash and due from   971                         931                         969
banks
Allowance for loan  (673)                       (710)                       (814)
losses
Accrued income and  5,177                       5,076                       4,840
other assets
Total assets        $ 63,276                    $ 61,950                    $ 58,238
Money market and
interest-bearing    $ 20,495  8        0.17     $ 20,458  8        0.18     $ 19,595  13       0.25
checking deposits
Savings deposits    1,618     —        0.04     1,607     1        0.07     1,659     —        0.14
Customer
certificates of     5,894     8        0.52     6,107     9        0.53     5,878     10       0.66
deposit
Foreign office and  381       1        0.71     379       —        0.64     455       1        0.49
other time deposits
Total
interest-bearing    28,388    17       0.24     28,551    18       0.25     27,587    24       0.33
deposits
Short-term          89        —        0.12     68        —        0.12     204       —        0.08
borrowings
Medium- and         4,745     16       1.35     4,854     17       1.40     5,168     16       1.23
long-term debt
Total
interest-bearing    33,222    33       0.40     33,473    35       0.42     32,959    40       0.47
sources
Noninterest-bearing 21,469                      20,128                      17,511
deposits
Accrued expenses
and other           1,540                       1,347                       1,135
liabilities
Total shareholders' 7,045                       7,002                       6,633
equity
Total liabilities
and shareholders'   $ 63,276                    $ 61,950                    $ 58,238
equity
Net interest
income/rate spread            $  428   2.79               $  435   2.93               $  424   3.00
(FTE)
FTE adjustment                $  1                        $  —                        $  1
Impact of net
noninterest-bearing                    0.17                        0.17                        0.18
sources of funds
Net interest margin
(as a percentage of
average earning                        2.96  %                     3.10  %                     3.18  %
assets) (FTE) (a)
(b)

       Accretion of the purchase discount on the acquired loan portfolio of
       $15 million, $18 million and $27 million in the third and second
(a)  quarters of 2012 and the third quarter of 2011, respectively, increased
       the net interest margin by 10 basis points, 13 basis points and 20
       basis points in the third and second quarters of 2012 and the third
       quarter of 2011, respectively.
       Excess liquidity, represented by average balances deposited with the
(b) Federal Reserve Bank, reduced the net interest margin by 21 basis
       points and by 18 basis points in the third and second quarters of 2012,
       respectively, and by 29 basis points in the third quarter of 2011.

CONSOLIDATED STATISTICAL DATA (unaudited)
Comerica Incorporated and Subsidiaries
                September 30, June 30,   March 31,  December 31, September 30,
(in millions,
except per      2012          2012       2012       2011         2011
share data)
Commercial
loans:
Floor plan      $  2,276      $ 2,406    $ 2,152    $  1,822     $  1,209
Other           25,184        24,610     23,488     23,174       21,904
Total
commercial      27,460        27,016     25,640     24,996       23,113
loans
Real estate
construction
loans:
Commercial Real
Estate business 1,003         991        1,055      1,103        1,226
line (a)
Other business  389           386        387        430          422
lines (b)
Total real
estate          1,392         1,377      1,442      1,533        1,648
construction
loans
Commercial
mortgage loans:
Commercial Real
Estate business 2,020         2,315      2,501      2,507        2,602
line (a)
Other business  7,539         7,515      7,578      7,757        7,937
lines (b)
Total
commercial      9,559         9,830      10,079     10,264       10,539
mortgage loans
Lease financing 837           858        872        905          927
International   1,277         1,224      1,256      1,170        1,046
loans
Residential     1,495         1,469      1,485      1,526        1,643
mortgage loans
Consumer loans:
Home equity     1,570         1,584      1,612      1,655        1,683
Other consumer  604           634        626        630          626
Total consumer  2,174         2,218      2,238      2,285        2,309
loans
Total loans     $  44,194     $ 43,992   $ 43,012   $  42,679    $  41,225
Goodwill        $  635        $ 635      $ 635      $  635       $  635
Core deposit    23            25         27         29           32
intangible
Loan servicing  2             3          3          3            3
rights
Tier 1 common
capital ratio   10.32       % 10.38    % 10.27    % 10.37      % 10.57      %
(c) (d)
Tier 1
risk-based      10.32         10.38      10.27      10.41        10.65
capital ratio
(d)
Total
risk-based      13.63         13.90      13.99      14.25        14.84
capital ratio
(d)
Leverage ratio  10.71         10.92      10.94      10.92        11.41
(d)
Tangible common
equity ratio    10.25         10.27      10.21      10.27        10.43
(c)
Common
shareholders'
equity per      $  37.01      $ 36.18    $ 35.44    $  34.80     $  34.94
share of common
stock
Tangible common
equity per      33.56         32.76      32.06      31.42        31.57
share of common
stock (c)
Market value
per share for
the quarter:
High            33.38         32.88      34.00      27.37        35.79
Low             29.32         27.88      26.25      21.53        21.48
Close           31.05         30.71      32.36      25.80        22.97
Quarterly
ratios:
Return on
average common  6.67        % 8.22     % 7.50     % 5.51       % 5.91       %
shareholders'
equity
Return on       0.74          0.93       0.84       0.63         0.67
average assets
Efficiency      71.68         67.53      69.70      75.97        75.59
ratio
Number of       490           493        495        494          502
banking centers
Number of
employees -     9,008         9,014      9,195      9,397        9,701
full time
equivalent

(a) Primarily loans to real estate investors and developers.
(b) Primarily loans secured by owner-occupied real estate.
(c) See Reconciliation of Non-GAAP Financial Measures.
(d) September 30, 2012 ratios are estimated.

PARENT COMPANY ONLY BALANCE SHEETS (unaudited)
Comerica Incorporated
                                      September 30, December 31, September 30,
(in millions, except share data)      2012          2011         2011
ASSETS
Cash and due from subsidiary bank     $   13        $   7        3
Short-term investments with           418           411          440
subsidiary bank
Other short-term investments          88            90           86
Investment in subsidiaries,           7,200         7,011        7,098
principally banks
Premises and equipment                4             4            3
Other assets                          150           177          189
 Total assets                      $   7,873     $   7,700    $   7,819
LIABILITIES AND SHAREHOLDERS' EQUITY
Medium- and long-term debt            $   632       $   666      $   722
Other liabilities                     157           166          146
 Total liabilities                 789           832          868
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 228,164,824 shares           1,141         1,141        1,141
Capital surplus                       2,153         2,170        2,162
Accumulated other comprehensive loss  (253)         (356)        (230)
Retained earnings                     5,831         5,546        5,471
Less cost of common stock in treasury
- 36,790,174 shares at 9/30/12,       (1,788)       (1,633)      (1,593)
30,831,076 shares at 12/31/11, and
29,238,425 shares at 9/30/11
 Total shareholders' equity        7,084         6,868        6,951
 Total liabilities and             $   7,873     $   7,700    $   7,819
shareholders' equity

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    Outstanding Amount   Surplus  Loss          Earnings Stock      Equity
share data)
BALANCE AT
DECEMBER 31,  176.5       $ 1,019  $ 1,481  $   (389)     $ 5,247  $ (1,565)  $   5,793
2010
Net income    —           —        —        —             297      —          297
Other
comprehensive —           —        —        159           —        —          159
income, net
of tax
Cash
dividends
declared on   —           —        —        —             (55)     —          (55)
common stock
($0.30 per
share)
Purchase of   (2.7)       —        —        —             —        (75)       (75)
common stock
Acquisition
of Sterling   24.3        122      681      —             —        —          803
Bancshares,
Inc.
Net issuance
of common
stock under   0.8         —        (29)     —             (18)     47         —
employee
stock plans
Share-based   —           —        29       —             —        —          29
compensation
BALANCE AT
SEPTEMBER 30, 198.9       $ 1,141  $ 2,162  $   (230)     $ 5,471  $ (1,593)  $   6,951
2011
BALANCE AT
DECEMBER 31,  197.3       $ 1,141  $ 2,170  $   (356)     $ 5,546  $ (1,633)  $   6,868
2011
Net income    —           —        —        —             391      —          391
Other
comprehensive —           —        —        103           —        —          103
income, net
of tax
Cash
dividends
declared on   —           —        —        —             (78)     —          (78)
common stock
($0.40 per
share)
Purchase of   (7.1)       —        —        —             —        (215)      (215)
common stock
Net issuance
of common
stock under   1.2         —        (48)     —             (28)     62         (14)
employee
stock plans
Share-based   —           —        29       —             —        —          29
compensation
Other         —           —        2        —             —        (2)        —
BALANCE AT
SEPTEMBER 30, 191.4       $ 1,141  $ 2,153  $   (253)     $ 5,831  $ (1,788)  $   7,084
2012

BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)
Comerica Incorporated and Subsidiaries
(dollar
amounts in     Business    Retail     Wealth
millions)
Three Months
Ended          Bank        Bank       Management  Finance    Other     Total
September 30,
2012
Earnings
summary:
Net interest
income         $ 386       $ 161      $  47       $ (176)    $ 10      $ 428
(expense)
(FTE)
Provision for  15          6          3           —          (2)       22
credit losses
Noninterest    76          41         62          14         4         197
income
Noninterest    144         181        78          3          43        449
expenses
Provision
(benefit) for  92          5          10          (62)       (8)       37
income taxes
(FTE)
Net income     $ 211       $ 10       $  18       $ (103)    $ (19)    $ 117
(loss)
Net
credit-related $ 27        $ 13       $  3        —          —         $ 43
charge-offs
Selected
average
balances:
Assets         $ 34,863    $ 5,964    $  4,566    $ 12,166   $ 5,717   $ 63,276
Loans          33,856      5,265      4,476       —          —         43,597
Deposits       25,142      20,682     3,667       193        173       49,857
Statistical
data:
Return on
average assets 2.42     %  0.18    %  1.61     %  N/M        N/M       0.74     %
(a)
Efficiency     31.23       89.39      71.14       N/M        N/M       71.68
ratio
               Business    Retail     Wealth
Three Months
Ended June 30, Bank        Bank       Management  Finance    Other     Total
2012
Earnings
summary:
Net interest
income         $ 385       $ 161      $  46       $ (166)    $ 9       $ 435
(expense)
(FTE)
Provision for  12          3          2           —          2         19
credit losses
Noninterest    83          47         66          17         (2)       211
income
Noninterest    151         177        79          2          24        433
expenses
Provision
(benefit) for  95          9          11          (56)       (9)       50
income taxes
(FTE)
Net income     $ 210       $ 19       $  20       $ (95)     $ (10)    $ 144
(loss)
Net
credit-related $ 26        $ 9        $  10       —          —         $ 45
charge-offs
Selected
average
balances:
Assets         $ 34,376    $ 5,946    $  4,604    $ 11,953   $ 5,071   $ 61,950
Loans          33,449      5,250      4,529       —          —         43,228
Deposits       24,145      20,525     3,640       177        192       48,679
Statistical
data:
Return on
average assets 2.44     %  0.35    %  1.76     %  N/M        N/M       0.93     %
(a)
Efficiency     32.30       85.17      73.98       N/M        N/M       67.53
ratio
               Business    Retail     Wealth
Three Months
Ended          Bank        Bank       Management  Finance    Other     Total
September 30,
2011
Earnings
summary:
Net interest
income         $ 363       $ 173      $  45       $ (168)    11        $ 424
(expense)
(FTE)
Provision for  18          16         7           —          (6)       35
credit losses
Noninterest    77          47         56          26         (5)       201
income
Noninterest    164         175        77          3          44        463
expenses
Provision
(benefit) for  79          10         6           (54)       (12)      29
income taxes
(FTE)
Net income     $ 179       $ 19       $  11       $ (91)     $ (20)    $ 98
(loss)
Net
credit-related $ 40        $ 28       $  9        —          —         $ 77
charge-offs
Selected
average
balances:
Assets         $ 30,608    $ 5,985    $  4,674    $ 10,210   $ 6,761   $ 58,238
Loans          29,957      5,483      4,658       —          —         40,098
Deposits       21,759      19,792     3,198       236        113       45,098
Statistical
data:
Return on
average assets 2.33     %  0.38    %  0.95     %  N/M        N/M       0.67     %
(a)
Efficiency     37.38       79.17      78.06       N/M        N/M       75.59
ratio

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

FTE - Fully Taxable Equivalent
N/M - Not Meaningful

MARKET SEGMENT FINANCIAL RESULTS (unaudited)
Comerica Incorporated and Subsidiaries
(dollar
amounts in                                                    Other                     Finance
millions)
Three Months
Ended          Midwest     Western     Texas       Florida    Markets    International  & Other    Total
September 30,
2012
Earnings
summary:
Net interest
income         $ 194       $ 181       $ 139       $ 10       $ 51       $   19         $ (166)    $ 428
(expense)
(FTE)
Provision for  2           —           10          5          6          1              (2)        22
credit losses
Noninterest    95          34          30          3          7          10             18         197
income
Noninterest    175         105         89          10         16         8              46         449
expenses
Provision
(benefit) for  41          40          25          (1)        (5)        7              (70)       37
income taxes
(FTE)
Net income     $ 71        $ 70        $ 45        $ (1)      $ 41       $   13         $ (122)    $ 117
(loss)
Net
credit-related $ 12        $ 10        $ 7         $ 9        $ 4        1              —          $ 43
charge-offs
Selected
average
balances:
Assets         $ 13,784    $ 13,442    $ 10,327    $ 1,309    $ 4,621    $   1,910      $ 17,883   $ 63,276
Loans          13,468      13,163      9,585       1,328      4,266      1,787          —          43,597
Deposits       19,628      15,192      9,941       512        2,823      1,395          366        49,857
Statistical
data:
Return on
average assets 1.38     %  1.74     %  1.61     %  (0.29)  %  3.54    %  2.65       %   N/M        0.74     %
(a)
Efficiency     60.40       48.63       52.50       76.90      27.38      28.28          N/M        71.68
ratio
                                                              Other                     Finance
Three Months
Ended June 30, Midwest     Western     Texas       Florida    Markets    International  & Other    Total
2012
Earnings
summary:
Net interest
income         $ 196       $ 177       $ 143       $ 11       $ 46       $   19         $ (157)    $ 435
(expense)
(FTE)
Provision for  1           1           7           11         (4)        1              2          19
credit losses
Noninterest    96          37          31          4          19         9              15         211
income
Noninterest    177         104         88          11         18         9              26         433
expenses
Provision
(benefit) for  39          40          28          (2)        4          6              (65)       50
income taxes
(FTE)
Net income     $ 75        $ 69        $ 51        $ (5)      $ 47       $   12         $ (105)    $ 144
(loss)
Net
credit-related $ 10        $ 12        $ 4         $ 10       $ 9        $   —          —          $ 45
charge-offs
Selected
average
balances:
Assets         $ 14,028    $ 13,170    $ 10,270    $ 1,407    $ 4,183    $   1,868      $ 17,024   $ 61,950
Loans          13,766      12,920      9,506       1,429      3,837      1,770          —          43,228
Deposits       19,227      14,371      10,185      446        2,728      1,353          369        48,679
Statistical
data:
Return on
average assets 1.48     %  1.78     %  1.78     %  (1.35)  %  4.53    %  2.54       %   N/M        0.93     %
(a)
Efficiency     60.51       48.44       50.96       77.45      30.43      29.78          N/M        67.53
ratio
                                                              Other                     Finance
Three Months
Ended          Midwest     Western     Texas       Florida    Markets    International  & Other    Total
September 30,
2011
Earnings
summary:
Net interest
income         $ 199       $ 166       $ 143       $ 11       $ 41       $   21         $ (157)    $ 424
(expense)
(FTE)
Provision for  20          13          (8)         2          12         2              (6)        35
credit losses
Noninterest    96          32          29          4          10         9              21         201
income
Noninterest    183         106         81          11         25         10             47         463
expenses
Provision
(benefit) for  32          29          35          1          (8)        6              (66)       29
income taxes
(FTE)
Net income     $ 60        $ 50        $ 64        $ 1        $ 22       $   12         $ (111)    $ 98
(loss)
Net
credit-related $ 33        $ 32        $ 2         $ 5        $ 5        $   —          —          $ 77
charge-offs
Selected
average
balances:
Assets         $ 14,118    $ 12,110    $ 8,510     $ 1,450    $ 3,374    $   1,705      $ 16,971   $ 58,238
Loans          13,873      11,889      8,145       1,477      3,082      1,632          —          40,098
Deposits       18,510      12,975      8,865       404        2,392      1,603          349        45,098
Statistical
data:
Return on
average assets 1.22     %  1.42     %  2.66     %  0.29    %  2.66    %  2.76       %   N/M        0.67     %
(a)
Efficiency     62.08       53.68       46.83       78.39      50.21      31.22          N/M        75.59
ratio

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

FTE - Fully Taxable Equivalent
N/M - Not Meaningful

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)
Comerica Incorporated and Subsidiaries
                September 30, June 30,   March 31,  December 31, September 30,
(dollar amounts 2012          2012       2012       2011         2011
in millions)
Tier 1 Common
Capital Ratio:
Tier 1 capital  $  6,685      $ 6,676    $ 6,647    $  6,582     $  6,560
(a) (b)
Less:
Trust preferred —             —          —          25           49
securities
Tier 1 common   $  6,685      $ 6,676    $ 6,647    $  6,557     $  6,511
capital (b)
Risk-weighted   $  64,772     $ 64,312   $ 64,742   $  63,244    $  61,593
assets (a) (b)
Tier 1
risk-based      10.32      %  10.38    % 10.27    % 10.41      % 10.65      %
capital ratio
(b)
Tier 1 common
capital ratio   10.32         10.38      10.27      10.37        10.57
(b)
Tangible Common
Equity Ratio:
Common
shareholders'   $  7,084      $ 7,028    $ 6,985    $  6,868     $  6,951
equity
Less:
Goodwill        635           635        635        635          635
Other
intangible      25            28         30         32           35
assets
Tangible common $  6,424      $ 6,365    $ 6,320    $  6,201     $  6,281
equity
Total assets    $  63,314     $ 62,650   $ 62,593   $  61,008    $  60,888
Less:
Goodwill        635           635        635        635          635
Other
intangible      25            28         30         32           35
assets
Tangible assets $  62,654     $ 61,987   $ 61,928   $  60,341    $  60,218
Common equity   11.19      %  11.22    % 11.16    % 11.26      % 11.42      %
ratio
Tangible common 10.25         10.27      10.21      10.27        10.43
equity ratio
Tangible Common
Equity per
Share of Common
Stock:
Common
shareholders'   $  7,084      $ 7,028    $ 6,985    $  6,868     $  6,951
equity
Tangible common 6,424         6,365      6,320      6,201        6,281
equity
Shares of
common stock    191           194        197        197          199
outstanding (in
millions)
Common
shareholders'
equity per      $  37.01      $ 36.18    $ 35.44    $  34.80     $  34.94
share of common
stock
Tangible common
equity per      33.56         32.76      32.06      31.42        31.57
share of common
stock

(a) Tier 1 capital and risk-weighted assets as defined by regulation.
(b)  September 30, 2012 Tier 1 capital and risk-weighted assets are
    estimated.

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

SOURCE Comerica Incorporated

Website: http://www.comerica.com
Contact: Media Contact, Wayne J. Mielke, +1 (214) 462-4463, or Investor
Contacts, Darlene P. Persons, +1 (214) 462-6831, or Brittany L. Butler, +1
(214) 462-6834