Comerica Reports Third Quarter 2013 Net Income Of $147 Million, Or 78 Cents Per Share

 Comerica Reports Third Quarter 2013 Net Income Of $147 Million, Or 78 Cents
                                  Per Share

EPS Up 3 Percent from Second Quarter 2013 and 28 Percent Over Third Quarter
2012

Net Interest Income Stable; Loan Volume Impacted by Economic Uncertainty and
Seasonality

Noninterest Income Up $6 Million, or 3 Percent

Continued Discipline Reflected in Noninterest Expenses

PR Newswire

DALLAS, Oct. 16, 2013

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

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

(dollar amounts in millions,      3rd Qtr '13     2nd Qtr '13  3rd Qtr '12
except per share data)
Net interest income (a)           $   412         $   414      $   427
Provision for credit losses       8               13           22
Noninterest income                214             208          197
Noninterest expenses              417             416          449         (b)
Provision for income taxes        54              50           36
Net income                        147             143          117
Net income attributable to common 145             141          116
shares
Diluted income per common share   0.78            0.76         0.61
Average diluted shares (in        187             187          191
millions)
Tier 1 common capital ratio (d)   10.74    %  (c) 10.43    %   10.37    %
Basel III Tier 1 common capital   10.4            10.1         10.0
ratio (d) (e)
Tangible common equity ratio (d)  9.87            10.04        10.30

    Included accretion of the purchase discount on the acquired loan portfolio
(a) of $8 million, $7 million and $15 million in the third quarter 2013,
    second quarter 2013 and third quarter 2012, respectively.
(b) Included restructuring expenses of $25 million associated with the 2011
    acquisition of Sterling Bancshares, Inc.
(c) September 30, 2013 ratio is estimated.
(d) See Reconciliation of Non-GAAP Financial Measures.
(e) Estimated ratios based on the standardized approach in the final rule and
    excluding most elements of accumulated other comprehensive income (AOCI).

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

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

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

Third Quarter 2013 Compared to Third Quarter 2012

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

Third Quarter 2013 Compared to Second Quarter 2013

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



Net Interest Income
(dollar amounts in millions)             3rd Qtr '13  2nd Qtr '13  3rd Qtr '12
Net interest income                      $  412       $  414       $  427
Net interest margin                      2.79      %  2.83      %  2.96      %
Selected average balances:
Total earning assets                     $  58,892    $  58,928    $  57,801
Total loans                              44,094       44,893       43,597
Total investment securities              9,380        9,793        9,791
Federal Reserve Bank deposits (excess    5,156        3,968        4,160
liquidity)
Total deposits                           51,865       51,448       49,845
Total noninterest-bearing deposits       22,379       22,076       21,469

  oNet interest income of $412 million in the third quarter 2013 decreased $2
    million compared to the second quarter 2013.

       oInterest on loans decreased by $7 million, primarily reflecting a
         decrease in loan volumes, including volume shifts in business mix ($6
         million); lower loan yields due to a decline in LIBOR ($1 million);
         and other loan portfolio dynamics, reflecting positive credit
         migration and other shifts in portfolio mix ($5 million); partially
         offset by one additional day in the third quarter ($4 million) and an
         increase in the accretion of the purchase discount on the acquired
         loan portfolio ($1 million).
       oInterest on mortgage-backed investment securities increased net
         interest income by $2 million, primarily as a result of improvement
         in yields due to slowing prepayment speeds ($4 million), partially
         offset by a decrease in average balances ($2 million).
       oInterest on other short-term investments increased net interest
         income by $1 million as a result of an increase in balances deposited
         with the Federal Reserve Bank.
       oA decrease in funding costs increased net interest income by $2
         million, primarily reflecting lower deposit pricing and a shift in
         the deposit mix, as well as a lower interest expense as a result of a
         full-quarter impact from the maturity of debt in the second quarter
         2013.

  oThe net interest margin of 2.79 percent decreased 4 basis points compared
    to the second quarter 2013. The decrease in net interest margin was
    primarily due to an increase in excess liquidity (-5 basis points) and
    lower loan yields (-3 basis points), partially offset by the impact of
    yield improvements on mortgage-backed securities (+3 basis points) and
    lower funding costs (+1 basis point).
  oAverage earning assets remained stable at $58.9 billion in the third
    quarter 2013, compared to the second quarter 2013, as an increase of $1.2
    billion in excess liquidity offset decreases of $799 million in average
    loans and $413 million in average investment securities
    available-for-sale.

Noninterest Income

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

Noninterest Expenses

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

Credit Quality

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

(dollar amounts in millions)             3rd Qtr '13  2nd Qtr '13  3rd Qtr '12
Net credit-related charge-offs           $   19       $   17       $   43
Net credit-related charge-offs/Average   0.18     %   0.15     %   0.39     %
total loans
Provision for credit losses              $   8        $   13       $   22
Nonperforming loans (a)                  459          471          692
Nonperforming assets (NPAs) (a)          478          500          755
NPAs/Total loans and foreclosed property 1.08     %   1.10     %   1.71     %
Loans past due 90 days or more and still $   25       $   20       $   36
accruing
Allowance for loan losses                604          613          647
Allowance for credit losses on           34           36           35
lending-related commitments (b)
Total allowance for credit losses        638          649          682
Allowance for loan losses/Period-end     1.37     %   1.35     %   1.46     %
total loans
Allowance for loan losses/Nonperforming  131          130          94
loans

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

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

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $64.7 billion and $7.0
billion, respectively, at September30, 2013, compared to $62.9 billion and
$6.9 billion, respectively, at June30, 2013. The $1.8 billion increase in
total assets primarily reflected an increase of $2.9 billion in excess
liquidity, partially offset by a decrease in loans of $1.3 billion.

There were approximately 184 million common shares outstanding at
September30, 2013. Diluted weighted average shares of 187 million at
September30, 2013 were unchanged compared to June30, 2013, as the impact of
the repurchase of $72 million of common stock (1.7 million shares) under the
share repurchase program during the third quarter 2013 was offset by the
impact of an increase in share dilution from options and warrants due to an
increase in Comerica's stock price. Combined with the dividend of $0.17 per
share, share repurchases under the share repurchase program and dividends
returned 70 percent of third quarter 2013 net income to shareholders.

Comerica's tangible common equity ratio was 9.87 percent at September30,
2013, a decrease of 17 basis points from June30, 2013. The estimated Tier 1
common capital ratio increased 31 basis points, to 10.74 percent at
September30, 2013, from June30, 2013. The estimated Tier 1 common ratio
under fully phased-in Basel III capital rules and excluding most elements of
AOCI was 10.4 percent percent at September30, 2013.

Full-Year and Fourth Quarter 2013 Outlook

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

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

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

Business Segments

Comerica's operations are strategically aligned into three major business
segments: the Business Bank, the Retail Bank and Wealth Management. The
Finance Division is also reported as a segment. The financial results below
are based on the internal business unit structure of the Corporation and
methodologies in effect at September30, 2013 and are presented on a fully
taxable equivalent (FTE) basis. The accompanying narrative addresses third
quarter 2013 results compared to second quarter 2013.

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

(dollar amounts in millions) 3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Business Bank                $ 209  91  %  $ 207  85  %  $ 207  88  %
Retail Bank                  6      3      11     5      10     4
Wealth Management            15     6      24     10     18     8
                             230    100 %  242    100 %  235    100 %
Finance                      (87)          (98)          (100)
Other (a)                    4             (1)           (18)
Total                   $ 147         $ 143         $ 117

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

Business Bank
(dollar amounts in millions)   3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Net interest income (FTE)      $    368      $    372      $    380
Provision for credit losses    (1)           10            15
Noninterest income             89            80            76
Noninterest expenses           153           147           145
Net income                     209           207           207
Net credit-related charge-offs 9             11            27
Selected average balances:
Assets                         35,298        36,017        34,861
Loans                          34,178        34,955        33,856
Deposits                       26,284        25,987        25,142

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

Retail Bank
(dollar amounts in millions)   3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Net interest income (FTE)      $    151      $    154      $    161
Provision for credit losses    10            5             6
Noninterest income             45            46            41
Noninterest expenses           177           178           181
Net income                     6             11            10
Net credit-related charge-offs 7             4             13
Selected average balances:
Assets                         5,967         5,962         5,964
Loans                          5,285         5,271         5,265
Deposits                       21,257        21,241        20,682

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

Wealth Management
(dollar amounts in millions)   3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Net interest income (FTE)      $     45      $     46      $     47
Provision for credit losses    1             (3)           4
Noninterest income             61            65            62
Noninterest expenses           81            77            77
Net income                     15            24            18
Net credit-related charge-offs 3             2             3
Selected average balances:
Assets                         4,789         4,828         4,566
Loans                          4,631         4,667         4,476
Deposits                       3,782         3,701         3,667

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

Geographic Market Segments

Comerica also provides market segment results for three primary geographic
markets: Michigan, California and Texas. In addition to the three primary
geographic markets, Other Markets is also reported as a market segment. Other
Markets includes Florida, Arizona, the International Finance division and
businesses that have a significant presence outside of the three primary
geographic markets. The tables below present the geographic market results
based on the methodologies in effect at September30, 2013 and are presented
on a fully taxable equivalent (FTE) basis.

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

(dollar amounts in millions)      3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Michigan                          $ 73   32  %  $ 77   32  %  $ 71   30  %
California                        71     31     65     27     67     29
Texas                             35     15     46     19     44     19
Other Markets                     51     22     54     22     53     22
                                  230    100 %  242    100 %  235    100 %
Finance & Other (a)               (83)          (99)          (118)
Total                        $ 147         $ 143         $ 117
(a)    Includes items not directly associated with the geographic markets.

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

Michigan Market
(dollar amounts in millions)   3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Net interest income (FTE)      $    186      $    187      $    193
Provision for credit losses    (8)           (4)           2
Noninterest income             88            88            95
Noninterest expenses           167           161           175
Net income                     73            77            71
Net credit-related charge-offs 1             4             12
Selected average balances:
Assets                         13,744        14,022        13,785
Loans                          13,276        13,598        13,475
Deposits                       20,465        20,159        19,628



California Market
(dollar amounts in millions)   3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Net interest income (FTE)      $    171      $    173      $    176
Provision for credit losses    (3)           7             6
Noninterest income             42            36            33
Noninterest expenses           101           100           98
Net income                     71            65            67
Net credit-related charge-offs 8             12            11
Selected average balances:
Assets                         14,245        14,155        13,171
Loans                          14,002        13,912        12,915
Deposits                       14,567        14,671        14,964



Texas Market
(dollar amounts in millions)   3rd Qtr '13   2nd Qtr '13   3rd Qtr '12
Net interest income (FTE)      $    129      $    131      $    138
Provision for credit losses    17            6             10
Noninterest income             35            34            30
Noninterest expenses           92            89            89
Net income                     35            46            44
Net credit-related charge-offs 4             (3)           7
Selected average balances:
Assets                         10,642        10,886        10,324
Loans                          9,942         10,179        9,585
Deposits                       10,298        10,187        9,941

Conference Call and Webcast

Comerica will host a conference call to review third quarter 2013 financial
results at 7 a.m. CT Wednesday, October16, 2013. Interested parties may
access the conference call by calling (800) 309-2262 or (706) 679-5261 (event
ID No. 60015337). The call and supplemental financial information can also be
accessed via Comerica's "Investor Relations" page at www.comerica.com. A
replay of the Webcast can be accessed via Comerica's "Investor Relations" page
at www.comerica.com.

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

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

Forward-looking Statements

Any statements in this news release that are not historical facts are
forward-looking statements as defined in the Private Securities Litigation
Reform Act of 1995. Words such as "anticipates," "believes," "contemplates,"
"feels," "expects," "estimates," "seeks," "strives," "plans," "intends,"
"outlook," "forecast," "position," "target," "mission," "assume,"
"achievable," "potential," "strategy," "goal," "aspiration," "opportunity,"
"initiative," "outcome," "continue," "remain," "maintain," "on course,"
"trend," "objective," "looks forward" and variations of such words and similar
expressions, or future or conditional verbs such as "will," "would," "should,"
"could," "might," "can," "may" or similar expressions, as they relate to
Comerica or its management, are intended to identify forward-looking
statements. These forward-looking statements are predicated on the beliefs and
assumptions of Comerica's management based on information known to Comerica's
management as of the date of this news release and do not purport to speak as
of any other date. Forward-looking statements may include descriptions of
plans and objectives of Comerica's management for future or past operations,
products or services, and forecasts of Comerica's revenue, earnings or other
measures of economic performance, including statements of profitability,
business segments and subsidiaries, estimates of credit trends and global
stability. Such statements reflect the view of Comerica's management as of
this date with respect to future events and are subject to risks and
uncertainties. Should one or more of these risks materialize or should
underlying beliefs or assumptions prove incorrect, Comerica's actual results
could differ materially from those discussed. Factors that could cause or
contribute to such differences are changes in general economic, political or
industry conditions; changes in monetary and fiscal policies, including the
interest rate policies of the Federal Reserve Board; volatility and
disruptions in global capital and credit markets; changes in Comerica's credit
rating; the interdependence of financial service companies; changes in
regulation or oversight; unfavorable developments concerning credit quality;
any future acquisitions or divestitures; the effects of more stringent capital
or liquidity requirements; declines or other changes in the businesses or
industries of Comerica's customers; the implementation of Comerica's
strategies and business models; Comerica's ability to utilize technology to
efficiently and effectively develop, market and deliver new products and
services; operational difficulties, failure of technology infrastructure or
information security incidents; changes in the financial markets, including
fluctuations in interest rates and their impact on deposit pricing;
competitive product and pricing pressures among financial institutions within
Comerica's markets; changes in customer behavior; management's ability to
maintain and expand customer relationships; management's ability to retain key
officers and employees; the impact of legal and regulatory proceedings or
determinations; the effectiveness of methods of reducing risk exposures; the
effects of terrorist activities and other hostilities; the effects of
catastrophic events including, but not limited to, hurricanes, tornadoes,
earthquakes, fires, droughts and floods; changes in accounting standards and
the critical nature of Comerica's accounting policies. Comerica cautions that
the foregoing list of factors is not exclusive. For discussion of factors that
may cause actual results to differ from expectations, please refer to our
filings with the Securities and Exchange Commission. In particular, please
refer to "Item 1A. Risk Factors" beginning on page 13 of Comerica's Annual
Report on Form 10-K for the year ended December 31, 2012 and on page 68 of the
Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30,
2013. Forward-looking statements speak only as of the date they are made.
Comerica does not undertake to update forward-looking statements to reflect
facts, circumstances, assumptions or events that occur after the date the
forward-looking statements are made. For any forward-looking statements made
in this news release or in any documents, Comerica claims the protection of
the safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995.



CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)
Comerica Incorporated and Subsidiaries
                    Three Months Ended                      Nine Months Ended
                    September30, June30,   September30,  September30,
(in millions,
except per share    2013          2013       2012           2013       2012
data)
PER COMMON SHARE
AND COMMON STOCK
DATA
Diluted net income  $  0.78       $ 0.76     $  0.61        $ 2.23     $ 2.00
Cash dividends      0.17          0.17       0.15           0.51       0.40
declared
Common
shareholders'       37.94         37.32      37.01
equity (at period
end)
Tangible common
equity (at period   34.38         33.79      33.56
end) (a)
Average diluted
shares (in          187,104       186,998    191,492        187,180    193,991
thousands)
KEY RATIOS
Return on average
common              8.50       %  8.23     % 6.67       %   8.14     % 7.46     %
shareholders'
equity
Return on average   0.92          0.90       0.75           0.89       0.84
assets
Tier 1 common
capital ratio (a)   10.74         10.43      10.37
(b)
Tier 1 risk-based   10.74         10.43      10.37
capital ratio (b)
Total risk-based    13.44         13.29      13.69
capital ratio (b)
Leverage ratio (b)  10.88         10.81      10.78
Tangible common     9.87          10.04      10.30
equity ratio (a)
AVERAGE BALANCES
Commercial loans    $  27,759     $ 28,393   $  26,700      $ 28,069   $ 25,810
Real estate
construction loans:
Commercial Real
Estate business     1,263         1,218      999            1,199      1,029
line (c)
Other business      259           235        390            231        391
lines (d)
 Total real
estate construction 1,522         1,453      1,389          1,430      1,420
loans
Commercial mortgage
loans:
Commercial Real
Estate business     1,714         1,798      2,140          1,782      2,367
line (c)
Other business      7,229         7,394      7,530          7,395      7,584
lines (d)
 Total
commercial mortgage 8,943         9,192      9,670          9,177      9,951
loans
Lease financing     839           855        852            850        873
International loans 1,252         1,262      1,302          1,265      1,257
Residential         1,642         1,602      1,488          1,600      1,498
mortgage loans
Consumer loans      2,137         2,136      2,196          2,142      2,225
Total loans         44,094        44,893     43,597         44,533     43,034
Earning assets      58,892        58,928     57,801         58,810     56,883
Total assets        63,660        63,709     62,984         63,710     62,008
Noninterest-bearing 22,379        22,076     21,469         21,991     20,415
deposits
Interest-bearing    29,486        29,372     28,376         29,364     28,532
deposits
Total deposits      51,865        51,448     49,845         51,355     48,947
Common
shareholders'       6,923         6,982      7,045          6,953      6,996
equity
NET INTEREST INCOME
Net interest income
(fully taxable      $  413        $ 415      $  428         $ 1,244    $ 1,306
equivalent basis)
Fully taxable
equivalent          1             1          1              2          2
adjustment
Net interest margin
(fully taxable      2.79       %  2.83     % 2.96       %   2.83     % 3.08     %
equivalent basis)
CREDIT QUALITY
Nonaccrual loans    $  437        $ 449      $  665
Reduced-rate loans  22            22         27
Total nonperforming 459           471        692
loans (e)
Foreclosed property 19            29         63
Total nonperforming 478           500        755
assets (e)
Loans past due 90
days or more and    25            20         36
still accruing
Gross loan          39            35         59             $ 112      $ 185
charge-offs
Loan recoveries     20            18         16             52         52
Net loan            19            17         43             60         133
charge-offs
Allowance for loan  604           613        647
losses
Allowance for
credit losses on    34            36         35
lending-related
commitments
Total allowance for 638           649        682
credit losses
Allowance for loan
losses as a         1.37       %  1.35     % 1.46       %
percentage of total
loans
Net loan
charge-offs as a
percentage of       0.18          0.15       0.39           0.18     % 0.41     %
average total loans
(f)
Nonperforming
assets as a
percentage of total 1.08          1.10       1.71
loans and
foreclosed property
(e)
Allowance for loan
losses as a         131           130        94
percentage of total
nonperforming loans

(a) See Reconciliation of Non-GAAP Financial Measures.
(b) September30, 2013 ratios are estimated.
(c) Primarily loans to real estate developers.
(d) Primarily loans secured by owner-occupied real estate.
(e) Excludes loans acquired with credit-impairment.
(f) Lending-related commitment charge-offs were zero in all periods presented.



CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries
                          September30, June30,    December31, September30,
(in millions, except      2013          2013        2012         2012
share data)
                          (unaudited)   (unaudited)              (unaudited)
ASSETS
Cash and due from banks   $   1,384     $  1,016    $  1,395     $   933
Federal funds sold        —             31          100          —
Interest-bearing deposits 5,704         2,878       3,039        3,005
with banks
Other short-term          106           119         125          146
investments
Investment securities     9,488         9,631       10,297       10,569
available-for-sale
Commercial loans          27,897        29,186      29,513       27,460
Real estate construction  1,552         1,479       1,240        1,392
loans
Commercial mortgage loans 8,785         9,007       9,472        9,559
Lease financing           829           843         859          837
International loans       1,286         1,209       1,293        1,277
Residential mortgage      1,650         1,611       1,527        1,495
loans
Consumer loans            2,152         2,124       2,153        2,174
 Total loans          44,151        45,459      46,057       44,194
Less allowance for loan   (604)         (613)       (629)        (647)
losses
 Net loans            43,547        44,846      45,428       43,547
Premises and equipment    604           604         622          625
Accrued income and other  3,837         3,822       4,063        4,175
assets
 Total assets         $   64,670    $  62,947   $  65,069    $   63,000
LIABILITIES AND
SHAREHOLDERS' EQUITY
Noninterest-bearing       $   23,896    $  21,870   $  23,279    $   21,753
deposits
Money market and
interest-bearing checking 21,697        21,677      21,273       20,397
deposits
Savings deposits          1,645         1,677       1,606        1,589
Customer certificates of  5,180         5,594       5,531        5,742
deposit
Foreign office time       491           437         502          486
deposits
 Total                29,013        29,385      28,912       28,214
interest-bearing deposits
 Total deposits       52,909        51,255      52,191       49,967
Short-term borrowings     226           131         110          63
Accrued expenses and      1,001         1,049       1,106        1,146
other liabilities
Medium- and long-term     3,565         3,601       4,720        4,740
debt
 Total liabilities    57,701        56,036      58,127       55,916
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           2,171         2,160       2,162        2,153
Accumulated other         (541)         (538)       (413)        (253)
comprehensive loss
Retained earnings         6,239         6,127       5,931        5,831
Less cost of common stock
in treasury - 44,483,659
shares at 9/30/13,
42,999,083 shares at      (2,041)       (1,979)     (1,879)      (1,788)
6/30/13, 39,889,610
shares at 12/31/12 and
36,790,174 shares at
9/30/12
 Total shareholders'  6,969         6,911       6,942        7,084
equity
 Total liabilities    $   64,670    $  62,947   $  65,069    $   63,000
and shareholders' equity



CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
Comerica Incorporated and Subsidiaries
                                         Three Months Ended  Nine Months Ended
                                         September30,       September30,
(in millions, except per share data)     2013       2012     2013     2012
INTEREST INCOME
Interest and fees on loans               $  381     $ 400    $ 1,159  $ 1,219
Interest on investment securities        54         57       159      179
Interest on short-term investments       4          3        10       9
Total interest income                    439        460      1,328    1,407
INTEREST EXPENSE
Interest on deposits                     13         17       43       54
Interest on medium- and long-term debt   14         16       43       49
Total interest expense                   27         33       86       103
Net interest income                      412        427      1,242    1,304
Provision for credit losses              8          22       37       63
Net interest income after provision for  404        405      1,205    1,241
credit losses
NONINTEREST INCOME
Service charges on deposit accounts      53         53       161      162
Fiduciary income                         41         39       128      116
Commercial lending fees                  28         22       71       71
Letter of credit fees                    17         19       49       54
Card fees                                20         16       55       48
Foreign exchange income                  9          9        27       29
Bank-owned life insurance                12         10       31       30
Brokerage fees                           5          5        14       14
Net securities gains (losses)            1          —        (1)      11
Other noninterest income                 28         24       87       79
Total noninterest income                 214        197      622      614
NONINTEREST EXPENSES
Salaries                                 196        192      566      582
Employee benefits                        59         61       185      181
Total salaries and employee benefits     255        253      751      763
Net occupancy expense                    41         40       119      121
Equipment expense                        15         17       45       50
Outside processing fee expense           31         27       89       79
Software expense                         22         23       66       67
Merger and restructuring charges         —          25       —        33
FDIC insurance expense                   9          9        26       29
Advertising expense                      6          7        18       21
Other real estate expense                1          2        3        6
Other noninterest expenses               37         46       132      161
Total noninterest expenses               417        449      1,249    1,330
Income before income taxes               201        153      578      525
Provision for income taxes               54         36       154      134
NET INCOME                               147        117      424      391
Less income allocated to participating   2          1        6        4
securities
Net income attributable to common shares $  145     $ 116    $ 418    $ 387
Earnings per common share:
Basic                                    $  0.80    $ 0.61   $ 2.28   $ 2.00
Diluted                                  0.78       0.61     2.23     2.00
Comprehensive income                     144        165      296      494
Cash dividends declared on common stock  31         29       95       78
Cash dividends declared per common share 0.17       0.15     0.51     0.40



CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
Comerica Incorporated and
Subsidiaries
              Third   Second  First   Fourth  Third    Third Quarter 2013 Compared To:
              Quarter Quarter Quarter Quarter Quarter  Second Quarter   Third Quarter
                                                       2013             2012
(in millions,
except per    2013    2013    2013    2012    2012     Amount  Percent  Amount  Percent
share data)
INTEREST
INCOME
Interest and  $ 381   $ 388   $ 390   $ 398   $ 400    $ (7)   (2)%     $ (19)  (5)%
fees on loans
Interest on
investment    54      52      53      55      57       2       6        (3)     (3)
securities
Interest on
short-term    4       3       3       3       3        1       25       1       9
investments
Total
interest      439     443     446     456     460      (4)     (1)      (21)    (4)
income
INTEREST
EXPENSE
Interest on   13      15      15      16      17       (2)     (7)      (4)     (23)
deposits
Interest on
medium- and   14      14      15      16      16       —       —        (2)     (13)
long-term
debt
Total
interest      27      29      30      32      33       (2)     (5)      (6)     (18)
expense
Net interest  412     414     416     424     427      (2)     —        (15)    (3)
income
Provision for 8       13      16      16      22       (5)     (42)     (14)    (64)
credit losses
Net interest
income after  404     401     400     408     405      3       1        (1)     —
provision for
credit losses
NONINTEREST
INCOME
Service
charges on    53      53      55      52      53       —       —        —       —
deposit
accounts
Fiduciary     41      44      43      42      39       (3)     (4)      2       6
income
Commercial    28      22      21      25      22       6       24       6       27
lending fees
Letter of     17      16      16      17      19       1       1        (2)     (12)
credit fees
Card fees     20      18      17      17      16       2       4        4       20
Foreign
exchange      9       9       9       9       9        —       —        —       —
income
Bank-owned
life          12      10      9       9       10       2       22       2       23
insurance
Brokerage     5       4       5       5       5        1       —        —       —
fees
Net
securities    1       (2)     —       1       —        3       N/M      1       N/M
gains
(losses)
Other
noninterest   28      34      25      27      24       (6)     (10)     4       20
income
Total
noninterest   214     208     200     204     197      6       3        17      9
income
NONINTEREST
EXPENSES
Salaries      196     182     188     196     192      14      8        4       3
Employee      59      63      63      59      61       (4)     (5)      (2)     (3)
benefits
Total
salaries and  255     245     251     255     253      10      5        2       2
employee
benefits
Net occupancy 41      39      39      42      40       2       2        1       —
expense
Equipment     15      15      15      15      17       —       —        (2)     (8)
expense
Outside
processing    31      30      28      28      27       1       10       4       22
fee expense
Software      22      22      22      23      23       —       —        (1)     (5)
expense
Merger and
restructuring —       —       —       2       25       —       —        (25)    N/M
charges
FDIC
insurance     9       8       9       9       9        1       10       —       —
expense
Advertising   6       6       6       6       7        —       —        (1)     (15)
expense
Other real
estate        1       1       1       3       2        —       —        (1)     (49)
expense
Other
noninterest   37      50      45      44      46       (13)    (26)     (9)     (20)
expenses
Total
noninterest   417     416     416     427     449      1       1        (32)    (7)
expenses
Income before 201     193     184     185     153      8       4        48      31
income taxes
Provision for 54      50      50      55      36       4       7        18      47
income taxes
NET INCOME    147     143     134     130     117      4       2        30      25
Less income
allocated to  2       2       2       2       1        —       —        1       45
participating
securities
Net income
attributable  $ 145   $ 141   $ 132   $ 128   $ 116    $ 4     2     %  $ 29    25    %
to common
shares
Earnings per
common share:
Basic         $ 0.80  $ 0.77  $ 0.71  $ 0.68  $ 0.61   $ 0.03  4     %  $ 0.19  31    %
Diluted       0.78    0.76    0.70    0.68    0.61     0.02    3        0.17    28
Comprehensive 144     15      137     (30)    165      129     N/M      (21)    (13)
income (loss)
Cash
dividends     31      32      32      28      29       (1)     (1)      2       9
declared on
common stock
Cash
dividends     0.17    0.17    0.17    0.15    0.15     —       —        0.02    13
declared per
common share
N/M - Not Meaningful





ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)
Comerica Incorporated and Subsidiaries
                                      2013                     2012
(in millions)                         3rd Qtr 2nd Qtr 1st Qtr  4th Qtr 3rd Qtr
Balance at beginning of period        $ 613   $ 617   $ 629    $ 647   $ 667
Loan charge-offs:
Commercial                            20      19      21       42      19
Real estate construction:
 Commercial Real Estate business  1       2       —        1       2
line (a)
 Other business lines (b)         —       —       —        —       —
 Total real estate           1       2       —        1       2
construction
Commercial mortgage:
 Commercial Real Estate business  6       2       1        5       12
line (a)
 Other business lines (b)         3       7       12       6       13
 Total commercial mortgage   9       9       13       11      25
International                         —       —       —        —       1
Residential mortgage                  1       1       1        2       6
Consumer                              8       4       3        4       6
 Total loan charge-offs           39      35      38       60      59
Recoveries on loans previously
charged-off:
Commercial                            8       11      6        13      7
Real estate construction              2       1       1        1       3
Commercial mortgage                   7       3       5        6       5
Lease financing                       1       —       —        —       —
International                         —       —       —        1       —
Residential mortgage                  1       1       1        1       —
Consumer                              1       2       1        1       1
 Total recoveries                 20      18      14       23      16
Net loan charge-offs                  19      17      24       37      43
Provision for loan losses             10      13      12       19      23
Balance at end of period              $ 604   $ 613   $ 617    $ 629   $ 647
Allowance for loan losses as a        1.37  % 1.35  % 1.37  %  1.37  % 1.46  %
percentage of total loans
Net loan charge-offs as a percentage  0.18    0.15    0.21     0.34    0.39
of average total loans

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



ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS
(unaudited)
Comerica Incorporated and Subsidiaries
                                      2013                     2012
(in millions)                         3rd Qtr 2nd Qtr 1st Qtr  4th Qtr 3rd Qtr
Balance at beginning of period        $  36   $  36   $  32    $  35   $  36
Add: Provision for credit losses on   (2)     —       4        (3)     (1)
lending-related commitments
Balance at end of period              $  34   $  36   $  36    $  32   $  35
Unfunded lending-related commitments  $  2    $  1    $  2     $  —    $  —
sold



NONPERFORMING ASSETS (unaudited)
Comerica Incorporated and Subsidiaries
                        2013                                   2012
(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         $   107       $   102       $  102     $ 103   $ 154
 Real estate
construction:
 Commercial Real
Estate business line    24            26            30         30      45
(a)
  Other         1             2             3          3       6
business lines (b)
  Total
real estate             25            28            33         33      51
construction
 Commercial
mortgage:
  Commercial
Real Estate business    67            69            86         94      137
line (a)
Other business     139           157           178        181     219
lines (b)
  Total    206           226           264        275     356
commercial mortgage
 Lease financing    —             —             —          3       3
Total nonaccrual   338           356           399        414     564
business loans
Retail loans:
 Residential        63            62            65         70      69
mortgage
 Consumer:
  Home equity   34            28            28         31      28
  Other         2             3             2          4       4
consumer
  Total    36            31            30         35      32
consumer
Total nonaccrual   99            93            95         105     101
retail loans
Total nonaccrual loans  437           449           494        519     665
Reduced-rate loans      22            22            21         22      27
Total nonperforming     459           471           515        541     692
loans (c)
Foreclosed property     19            29            40         54      63
Total nonperforming     $   478       $   500       $  555     $ 595   $ 755
assets (c)
Nonperforming loans as
a percentage of total   1.04      %   1.04      %   1.14    %  1.17  % 1.57  %
loans
Nonperforming assets as
a percentage of total   1.08          1.10          1.23       1.29    1.71
loansand foreclosed
property
Allowance for loan
losses as a percentage  131           130           120        116     94
of total nonperforming
loans
Loans past due 90 days
or more and still       $   25        $   20        $  25      $ 23    $ 36
accruing
ANALYSIS OF NONACCRUAL
LOANS
Nonaccrual loans at     $   449       $   494       $  519     $ 665   $ 719
beginning of period
Loans transferred to    50            37            34         36      35
nonaccrual (d)
Nonaccrual business
loan gross charge-offs  (25)          (25)          (34)       (54)    (46)
(e)
Nonaccrual business     (17)          (9)           (7)        (48)    (20)
loans sold (f)
Payments/Other (g)      (20)          (48)          (18)       (80)    (23)
Nonaccrual loans at end $   437       $   449       $  494     $ 519   $ 665
of period
(a) Primarily loans to real estate developers.
(b) Primarily loans secured by owner-occupied real estate.
(c) Excludes loans acquired with credit impairment.
(d) Based on an analysis of nonaccrual loans with book balances greater than
$2 million.
(e) Analysis of gross loan charge-offs:
Nonaccrual business     $   25        $   25        $  34      $ 54    $ 46
loans
Performing watch list   5             5             —          —       1
loans
Consumer and
residential mortgage    9             5             4          6       12
loans
 Total gross loan   $   39        $   35        $  38      $ 60    $ 59
charge-offs
(f) Analysis of loans sold:
Nonaccrual        $   17        $   9         $  7       $ 48    $ 20
business loans
Performing watch  31            40            12         24      42
list loans
 Total loans sold   $   48        $   49        $  19      $ 72    $ 62
(g) Includes net changes related to nonaccrual loans with balances less than
$2 million, payments on nonaccrual loans with book balances greater than $2
million and transfers of nonaccrual loans to foreclosed property. Excludes
business loan gross charge-offs and business nonaccrual loans sold.



ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
Comerica Incorporated and Subsidiaries
                        Nine Months Ended
                        September30, 2013          September30, 2012
                        Average            Average  Average            Average
(dollar amounts in      Balance   Interest Rate     Balance   Interest Rate
millions)
Commercial loans        $ 28,069  $ 688    3.28  %  $ 25,810  $ 673    3.48  %
Real estate             1,430     43       3.98     1,420     47       4.48
construction loans
Commercial mortgage     9,177     271      3.95     9,951     337      4.51
loans
Lease financing         850       21       3.22     873       19       2.92
International loans     1,265     35       3.73     1,257     35       3.73
Residential mortgage    1,600     50       4.13     1,498     52       4.66
loans
Consumer loans          2,142     53       3.32     2,225     57       3.44
Total loans (a)         44,533    1,161    3.49     43,034    1,220    3.79
Mortgage-backed
securities              9,339     158      2.29     9,317     177      2.60
available-for-sale
Other investment
securities              390       1        0.48     486       3        0.78
available-for-sale
Total investment
securities              9,729     159      2.21     9,803     180      2.51
available-for-sale
Interest-bearing        4,433     9        0.26     3,908     8        0.26
deposits with banks (b)
Other short-term        115       1        1.38     138       1        1.80
investments
Total earning assets    58,810    1,330    3.03     56,883    1,409    3.32
Cash and due from banks 993                         967
Allowance for loan      (627)                       (707)
losses
Accrued income and      4,534                       4,865
other assets
Total assets            $ 63,710                    $ 62,008
Money market and
interest-bearing        $ 21,594  22       0.13     $ 20,577  26       0.18
checking deposits
Savings deposits        1,654     —        0.03     1,589     1        0.06
Customer certificates   5,603     19       0.44     5,993     25       0.54
of deposit
Foreign office time     513       2        0.54     373       2        0.64
deposits
Total interest-bearing  29,364    43       0.19     28,532    54       0.25
deposits
Short-term borrowings   189       —        0.07     78        —        0.12
Medium- and long-term   4,109     43       1.42     4,846     49       1.36
debt
Total interest-bearing  33,662    86       0.34     33,456    103      0.41
sources
Noninterest-bearing     21,991                      20,415
deposits
Accrued expenses and    1,104                       1,141
other liabilities
Total shareholders'     6,953                       6,996
equity
Total liabilities and   $ 63,710                    $ 62,008
shareholders' equity
Net interest
income/rate spread                $ 1,244  2.69               $ 1,306  2.91
(FTE)
FTE adjustment                    $ 2                         $ 2
Impact of net
noninterest-bearing                        0.14                        0.17
sources of funds
Net interest margin (as
a percentage of average                    2.83  %                     3.08  %
earning assets) (FTE)
(a) (b)

    Accretion of the purchase discount on the acquired loan portfolio of $26
(a) million and $58 million in the nine months ended September 30, 2013 and
    2012, respectively, increased the net interest margin by 6 basis points
    and 14 basis points in each respective period.
    Excess liquidity, represented by average balances deposited with the
(b) Federal Reserve Bank, reduced the net interest margin by 20 basis points
    in both the nine months ended September 30, 2013 and 2012.

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
Comerica Incorporated and Subsidiaries
                    Three Months Ended
                    September 30, 2013          June 30, 2013               September 30, 2012
                    Average            Average  Average            Average  Average            Average
(dollar amounts in  Balance   Interest Rate     Balance   Interest Rate     Balance   Interest Rate
millions)
Commercial loans    $ 27,759  $  226   3.25  %  $ 28,393  $  233   3.29  %  $ 26,700  $  227   3.38  %
Real estate         1,522     15       3.78     1,453     15       4.04     1,389     15       4.36
construction loans
Commercial mortgage 8,943     88       3.90     9,192     88       3.86     9,670     106      4.34
loans
Lease financing     839       7        3.21     855       7        3.22     852       4        2.04
International loans 1,252     12       3.76     1,262     12       3.81     1,302     12       3.77
Residential         1,642     17       3.98     1,602     16       4.04     1,488     17       4.67
mortgage loans
Consumer loans      2,137     17       3.27     2,136     18       3.30     2,196     19       3.44
Total loans (a)     44,094    382      3.44     44,893    389      3.47     43,597    400      3.66
Mortgage-backed
securities          8,989     54       2.41     9,400     51       2.22     9,360     57       2.46
available-for-sale
Other investment
securities          391       —        0.43     393       1        0.52     431       1        0.86
available-for-sale
Total investment
securities          9,380     54       2.32     9,793     52       2.15     9,791     58       2.38
available-for-sale
Interest-bearing
deposits with banks 5,308     4        0.26     4,125     3        0.26     4,276     3        0.26
(b)
Other short-term    110       —        0.77     117       —        1.05     137       —        1.88
investments
Total earning       58,892    440      2.97     58,928    444      3.02     57,801    461      3.19
assets
Cash and due from   1,027                       972                         971
banks
Allowance for loan  (622)                       (625)                       (673)
losses
Accrued income and  4,363                       4,434                       4,885
other assets
Total assets        $ 63,660                    $ 63,709                    $ 62,984
Money market and
interest-bearing    $ 21,894  7        0.13     $ 21,544  8        0.13     $ 20,483  8        0.17
checking deposits
Savings deposits    1,680     —        0.04     1,658     —        0.03     1,618     —        0.04
Customer
certificates of     5,384     6        0.41     5,685     6        0.43     5,894     8        0.52
deposit
Foreign office time 528       —        0.48     485       1        0.60     381       1        0.71
deposits
Total
interest-bearing    29,486    13       0.18     29,372    15       0.19     28,376    17       0.24
deposits
Short-term          249       —        0.06     193       —        0.07     89        —        0.12
borrowings
Medium- and         3,590     14       1.54     4,044     14       1.43     4,745     16       1.35
long-term debt
Total
interest-bearing    33,325    27       0.32     33,609    29       0.34     33,210    33       0.40
sources
Noninterest-bearing 22,379                      22,076                      21,469
deposits
Accrued expenses
and other           1,033                       1,042                       1,260
liabilities
Total shareholders' 6,923                       6,982                       7,045
equity
Total liabilities
and shareholders'   $ 63,660                    $ 63,709                    $ 62,984
equity
Net interest
income/rate spread            $  413   2.65               $  415   2.68               $  428   2.79
(FTE)
FTE adjustment                $  1                        $  1                        $  1
Impact of net
noninterest-bearing                    0.14                        0.15                        0.17
sources of funds
Net interest margin
(as a percentage of
average earning                        2.79  %                     2.83  %                     2.96  %
assets) (FTE) (a)
(b)

    Accretion of the purchase discount on the acquired loan portfolio of $8
    million, $7 million and $15 million in the third and second quarters of
(a) 2013 and the third quarter of 2012, respectively, increased the net
    interest margin by 5 basis points, 5 basis points and 10 basis points in
    each respective period.
    Excess liquidity, represented by average balances deposited with the
(b) Federal Reserve Bank, reduced the net interest margin by 24 basis points
    and 18 basis points in the third and second quarters of 2013 and 21 basis
    points in the third quarter of 2012, respectively.

CONSOLIDATED STATISTICAL DATA (unaudited)
Comerica Incorporated and Subsidiaries
                September30, June30,   March31,  December31, September30,
(in millions,
except per      2013          2013       2013       2012         2012
share data)
Commercial
loans:
Floor plan      $  2,869      $ 3,241    $ 2,963    $  2,939     $  2,276
Other           25,028        25,945     25,545     26,574       25,184
 Total
commercial      27,897        29,186     28,508     29,513       27,460
loans
Real estate
construction
loans:
Commercial Real
Estate business 1,283         1,223      1,185      1,049        1,003
line (a)
Other business  269           256        211        191          389
lines (b)
 Total real
estate          1,552         1,479      1,396      1,240        1,392
construction
loans
Commercial
mortgage loans:
Commercial Real
Estate business 1,592         1,743      1,812      1,873        2,020
line (a)
Other business  7,193         7,264      7,505      7,599        7,539
lines (b)
 Total
commercial      8,785         9,007      9,317      9,472        9,559
mortgage loans
Lease financing 829           843        853        859          837
International   1,286         1,209      1,269      1,293        1,277
loans
Residential     1,650         1,611      1,568      1,527        1,495
mortgage loans
Consumer loans:
Home equity     1,501         1,474      1,498      1,537        1,570
Other consumer  651           650        658        616          604
Total      2,152         2,124      2,156      2,153        2,174
consumer loans
 Total      $  44,151     $ 45,459   $ 45,067   $  46,057    $  44,194
loans
Goodwill        $  635        $ 635      $ 635      $  635       $  635
Core deposit    17            18         19         20           23
intangible
Loan servicing  1             2          2          2            2
rights
Tier 1 common
capital ratio   10.74      %  10.43    % 10.37    % 10.14      % 10.37      %
(c) (d)
Tier 1
risk-based      10.74         10.43      10.37      10.14        10.37
capital ratio
(c)
Total
risk-based      13.44         13.29      13.41      13.15        13.69
capital ratio
(c)
Leverage ratio  10.88         10.81      10.75      10.57        10.78
(c)
Tangible common
equity ratio    9.87          10.04      9.86       9.76         10.30
(d)
Common
shareholders'
equity per      $  37.94      $ 37.32    $ 37.41    $  36.87     $  37.01
share of common
stock
Tangible common
equity per      34.38         33.79      33.90      33.38        33.56
share of common
stock (d)
Market value
per share for
the quarter:
High            43.49         40.44      36.99      32.14        33.38
Low             38.56         33.55      30.73      27.72        29.32
Close           39.31         39.83      35.95      30.34        31.05
Quarterly
ratios:
Return on
average common  8.50       %  8.23     % 7.68     % 7.36       % 6.67       %
shareholders'
equity
Return on       0.92          0.90       0.84       0.81         0.75
average assets
Efficiency      66.66         66.43      67.58      68.08        71.68
ratio (e)
Number of       484           484        487        487          490
banking centers
Number of
employees -     8,918         8,929      9,001      9,035        9,079
full time
equivalent

(a) Primarily loans to real estate developers.
(b) Primarily loans secured by owner-occupied real estate.
(c) September30, 2013 ratios are estimated.
(d) See Reconciliation of Non-GAAP Financial Measures.
(e) Noninterest expenses as a percentage of the sum of net interest income
    (FTE) and noninterest income excluding net securities gains.



PARENT COMPANY ONLY BALANCE SHEETS (unaudited)
Comerica Incorporated
                                      September30, December31, September30,
(in millions, except SHARE data)      2013          2012         2012
ASSETS
Cash and due from subsidiary bank     $   36        $   2        $   13
Short-term investments with           480           431          418
subsidiary bank
Other short-term investments          92            88           88
Investment in subsidiaries,           7,008         7,045        7,200
principally banks
Premises and equipment                4             4            4
Other assets                          134           150          150
Total assets                    $   7,754     $   7,720    $   7,873
LIABILITIES AND SHAREHOLDERS' EQUITY
Medium- and long-term debt            $   620       $   629      $   632
Other liabilities                     165           149          157
Total liabilities               785           778          789
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 228,164,824 shares       1,141         1,141        1,141
Capital surplus                       2,171         2,162        2,153
Accumulated other comprehensive loss  (541)         (413)        (253)
Retained earnings                     6,239         5,931        5,831
Less cost of common stock in treasury
- 44,483,659 shares at 9/30/13,       (2,041)       (1,879)      (1,788)
39,889,610 shares at 12/31/12 and
36,790,174 shares at 9/30/12
Total shareholders' equity      6,969         6,942        7,084
Total liabilities and           $   7,754     $   7,720    $   7,873
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,  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
BALANCE AT
DECEMBER 31,  188.3        $ 1,141  $ 2,162  $   (413)     $ 5,931  $ (1,879)  $   6,942
2012
Net income    —            —        —        —             424      —          424
Other
comprehensive —            —        —        (128)         —        —          (128)
loss, net of
tax
Cash
dividends
declared on   —            —        —        —             (95)     —          (95)
common stock
($0.51 per
share)
Purchase of   (5.8)        —        —        —             —        (218)      (218)
common stock
Net issuance
of common
stock under   1.2          —        (18)     —             (21)     56         17
employee
stock plans
Share-based   —            —        27       —             —        —          27
compensation
BALANCE AT
SEPTEMBER 30, 183.7        $ 1,141  $ 2,171  $   (541)     $ 6,239  $ (2,041)  $   6,969
2013



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,
2013
Earnings
summary:
Net interest
income         $ 368       $ 151      $  45       $ (159)    $ 8       $ 413
(expense)
(FTE)
Provision for  (1)         10         1           —          (2)       8
credit losses
Noninterest    89          45         61          18         1         214
income
Noninterest    153         177        81          2          4         417
expenses
Provision
(benefit) for  96          3          9           (56)       3         55
income taxes
(FTE)
Net income     $ 209       $ 6        $  15       $ (87)     $ 4       $ 147
(loss)
Net
credit-related $ 9         $ 7        $  3        —          —         $ 19
charge-offs
Selected
average
balances:
Assets         $ 35,298    $ 5,967    $  4,789    $ 11,097   $ 6,509   $ 63,660
Loans          34,178      5,285      4,631       —          —         44,094
Deposits       26,284      21,257     3,782       319        223       51,865
Statistical
data:
Return on
average assets 2.38     %  0.12    %  1.21     %  N/M        N/M       0.92     %
(a)
Efficiency     33.50       90.27      77.22       N/M        N/M       66.66
ratio (b)
               Business    Retail     Wealth
Three Months
Ended June 30, Bank        Bank       Management  Finance    Other     Total
2013
Earnings
summary:
Net interest
income         $ 372       $ 154      $  46       $ (165)    $ 8       $ 415
(expense)
(FTE)
Provision for  10          5          (3)         —          1         13
credit losses
Noninterest    80          46         65          15         2         208
income
Noninterest    147         178        77          3          11        416
expenses
Provision
(benefit) for  88          6          13          (55)       (1)       51
income taxes
(FTE)
Net income     $ 207       $ 11       $  24       $ (98)     $ (1)     $ 143
(loss)
Net
credit-related $ 11        $ 4        $  2        —          —         $ 17
charge-offs
Selected
average
balances:
Assets         $ 36,017    $ 5,962    $  4,828    $ 11,514   $ 5,388   $ 63,709
Loans          34,955      5,271      4,667       —          —         44,893
Deposits       25,987      21,241     3,701       283        236       51,448
Statistical
data:
Return on
average assets 2.30     %  0.20    %  2.00     %  N/M        N/M       0.90     %
(a)
Efficiency     32.41       87.98      69.86       N/M        N/M       66.43
ratio (b)
               Business    Retail     Wealth
Three Months
Ended          Bank        Bank       Management  Finance    Other     Total
September 30,
2012
Earnings
summary:
Net interest
income         $ 380       $ 161      $  47       $ (170)    10        $ 428
(expense)
(FTE)
Provision for  15          6          4           —          (3)       22
credit losses
Noninterest    76          41         62          14         4         197
income
Noninterest    145         181        77          3          43        449
expenses
Provision
(benefit) for  89          5          10          (59)       (8)       37
income taxes
(FTE)
Net income     $ 207       $ 10       $  18       $ (100)    $ (18)    $ 117
(loss)
Net
credit-related $ 27        $ 13       $  3        —          —         $ 43
charge-offs
Selected
average
balances:
Assets         $ 34,861    $ 5,964    $  4,566    $ 11,873   $ 5,720   $ 62,984
Loans          33,856      5,265      4,476       —          —         43,597
Deposits       25,142      20,682     3,667       181        173       49,845
Statistical
data:
Return on
average assets 2.38     %  0.19    %  1.59     %  N/M       N/M      0.75     %
(a)
Efficiency     31.67       89.07      71.04       N/M       N/M      71.68
ratio (b)



(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                                         Other      Finance
millions)
Three Months                                                  &
Ended          Michigan    California  Texas       Markets               Total
September 30,                                                 Other
2013
Earnings
summary:
Net interest
income         $ 186       $ 171       $ 129       $ 78       $ (151)    $ 413
(expense)
(FTE)
Provision for  (8)         (3)         17          4          (2)        8
credit losses
Noninterest    88          42          35          30         19         214
income
Noninterest    167         101         92          51         6          417
expenses
Provision
(benefit) for  42          44          20          2          (53)       55
income taxes
(FTE)
Net income     $ 73        $ 71        $ 35        $ 51       $ (83)     $ 147
(loss)
Net
credit-related $ 1         $ 8         $ 4         $ 6        $ —        $ 19
charge-offs
Selected
average
balances:
Assets         $ 13,744    $ 14,245    $ 10,642    $ 7,423    $ 17,606   $ 63,660
Loans          13,276      14,002      9,942       6,874      —          44,094
Deposits       20,465      14,567      10,298      5,993      542        51,865
Statistical
data:
Return on
average assets 1.38     %  1.84     %  1.21     %  2.73    %  N/M        0.92     %
(a)
Efficiency     60.89       47.37       56.52       47.65      N/M        66.66
ratio (b)
                                                   Other      Finance
Three Months
Ended June 30, Michigan    California  Texas       Markets    & Other    Total
2013
Earnings
summary:
Net interest
income         $ 187       $ 173       $ 131       $ 81       $ (157)    $ 415
(expense)
(FTE)
Provision for  (4)         7           6           3          1          13
credit losses
Noninterest    88          36          34          33         17         208
income
Noninterest    161         100         89          52         14         416
expenses
Provision
(benefit) for  41          37          24          5          (56)       51
income taxes
(FTE)
Net income     $ 77        $ 65        $ 46        $ 54       $ (99)     $ 143
(loss)
Net
credit-related $ 4         $ 12        $ (3)       $ 4        $ —        $ 17
charge-offs
Selected
average
balances:
Assets         $ 14,022    $ 14,155    $ 10,886    $ 7,744    $ 16,902   $ 63,709
Loans          13,598      13,912      10,179      7,204      —          44,893
Deposits       20,159      14,671      10,187      5,912      519        51,448
Statistical
data:
Return on
average assets 1.47     %  1.65     %  1.62     %  2.79    %  N/M        0.90     %
(a)
Efficiency     58.17       47.73       53.39       46.04      N/M        66.43
ratio (b)
                                                   Other      Finance
Three Months                                       
Ended          Michigan    California  Texas                  & Other    Total
September 30,                                      Markets
2012
Earnings
summary:
Net interest
income         $ 193       $ 176       $ 138       $ 81       $ (160)    $ 428
(expense)
(FTE)
Provision for  2           6           10          7          (3)        22
credit losses
Noninterest    95          33          30          21         18         197
income
Noninterest    175         98          89          41         46         449
expenses
Provision
(benefit) for  40          38          25          1          (67)       37
income taxes
(FTE)
Net income     $ 71        $ 67        $ 44        $ 53       $ (118)    $ 117
(loss)
Net
credit-related $ 12        $ 11        $ 7         $ 13       $ —        $ 43
charge-offs
Selected
average
balances:
Assets         $ 13,785    $ 13,171    $ 10,324    $ 8,111    $ 17,593   $ 62,984
Loans          13,475      12,915      9,585       7,622      —          43,597
Deposits       19,628      14,964      9,941       4,958      354        49,845
Statistical
data:
Return on
average assets 1.39     %  1.69     %  1.62     %  2.53    %  N/M        0.75     %
(a)
Efficiency     60.06       46.68       52.96       41.78      N/M        71.68
ratio (b)

(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
                September30, June30,   March31,  December31, September30,
(dollar amounts 2013          2013       2013       2012         2012
in millions)
Tier 1 Common
Capital Ratio:
Tier 1 and Tier
1 common        $  6,863      $ 6,800    $ 6,748    $  6,705     $  6,685
capital (a) (b)
Risk-weighted   $  63,917     $ 65,220   $ 65,099   $  66,115    $  64,486
assets (a) (b)
Tier 1 and Tier
1 common
risk-based      10.74      %  10.43    % 10.37    % 10.14      % 10.37      %
capital ratio
(b)
Basel III Tier
1 Common
Capital Ratio:
Tier 1 common   $  6,863      $ 6,800    $ 6,748    $  6,705     $  6,685
capital (b)
Basel III       —             —          (1)        (39)         (17)
adjustments (c)
Basel III Tier
1 common        6,863         6,800      6,747      6,666        6,668
capital (c)
Risk-weighted   $  63,917     $ 65,220   $ 65,099   $  66,115    $  64,486
assets (a) (b)
Basel III       2,295         2,091      1,996      1,854        2,313
adjustments (c)
Basel III
risk-weighted   $  66,212     $ 67,311   $ 67,095   $  67,969    $  66,799
assets (c)
Tier 1 common
capital ratio   10.7       %  10.4     % 10.4     % 10.1       % 10.4       %
(b)
Basel III Tier
1 common        10.4          10.1       10.1       9.8          10.0
capital ratio
(c)
Tangible Common
Equity Ratio:
Common
shareholders'   $  6,969      $ 6,911    $ 6,988    $  6,942     $  7,084
equity
Less:
Goodwill        635           635        635        635          635
Other
intangible      18            20         21         22           25
assets
Tangible common $  6,316      $ 6,256    $ 6,332    $  6,285     $  6,424
equity
Total assets    $  64,670     $ 62,947   $ 64,885   $  65,069    $  63,000
Less:
Goodwill        635           635        635        635          635
Other
intangible      18            20         21         22           25
assets
Tangible assets $  64,017     $ 62,292   $ 64,229   $  64,412    $  62,340
Common equity   10.78      %  10.98    % 10.77    % 10.67      % 11.24      %
ratio
Tangible common 9.87          10.04      9.86       9.76         10.30
equity ratio
Tangible Common
Equity per
Share of Common
Stock:
Common
shareholders'   $  6,969      $ 6,911    $ 6,988    $  6,942     $  7,084
equity
Tangible common 6,316         6,256      6,332      6,285        6,424
equity
Shares of
common stock    184           185        187        188          191
outstanding (in
millions)
Common
shareholders'
equity per      $  37.94      $ 37.32    $ 37.41    $  36.87     $  37.01
share of common
stock
Tangible common
equity per      34.38         33.79      33.90      33.38        33.56
share of common
stock

(a) Tier 1 capital and risk-weighted assets as defined by regulation.
(b) September30, 2013 Tier 1 capital and risk-weighted assets are estimated.
    Estimated ratios based on the standardized approach in the final rule for
(c) the U.S. adoption of the Basel III regulatory capital framework and
    excluding most elements of AOCI.

The Tier 1 common capital ratio removes preferred stock and qualifying trust
preferred securities from Tier 1 capital as defined by and calculated in
conformity with bank regulations. The Basel III Tier 1 common capital ratio
further adjusts Tier 1 common capital and risk-weighted assets to account for
the final rule approved by U.S. banking regulators in July 2013 for the U.S.
adoption of the Basel III regulatory capital framework. The final Basel III
capital rules are effective January 1, 2015 for banking organizations subject
to the standardized approach. The tangible common equity ratio removes
preferred stock and the effect of intangible assets from capital and the
effect of intangible assets from total assets. Tangible common equity per
share of common stock removes the effect of intangible assets from common
shareholders equity per share of common stock. Comerica believes these
measurements are meaningful measures of capital adequacy used by investors,
regulators, management and others to evaluate the adequacy of common equity
and to compare against other companies in the industry.





SOURCE Comerica Incorporated

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