COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION,

OR 73 CENTS PER SHARE, UP 4 PERCENT FROM FIRST QUARTER 2013

$1 BillionLoan Growth OverFourth Quarter 2013;

Increases in Nearly All Business Lines

Drive for Efficiency Demonstrated in Well-Controlled Expenses

Continued to Maintain Strong Capital Ratios

While Returning $107 Million to Shareholders

DALLAS/April 15, 2014 -- Comerica Incorporated (NYSE: CMA) today reported first quarter 2014 net income of $139 million, compared to $117 million for the fourth quarter 2013 and $134 million for the first quarter 2013. Earnings per diluted share were 73 cents for the first quarter 2014, compared to 62 cents for the fourth quarter 2013 and 70 cents for the first quarter 2013.

(dollar amounts in millions, except per share data)	1st Qtr '14				4th Qtr '13			1st Qtr '13
Net interest income (a)	$	410			$	430		$	416
Provision for credit losses	9				9			16
Noninterest income	208				219			213
Noninterest expenses (b)	406				473			416
Provision for income taxes	64				50			63
Net income	139				117			134
Net income attributable to common shares	137				115			132
Diluted income per common share	0.73				0.62			0.70
Average diluted shares (in millions)	187				186			187
Tier 1 common capital ratio (d)	10.54		%	(c)	10.64		%	10.37		%
Basel III common equity Tier 1 capital ratio (d) (e)	10.3				10.3			10.1
Tangible common equity ratio (d)	10.20				10.07			9.86

(a) Included accretion of the purchase discount on the acquired loan portfolio of $12 million, $23 million and $11 million in the first quarter 2014, fourth quarter 2013 and first quarter 2013, respectively.

(b) Included litigation-related expense of $3 million, $52 million and $3 million in the first quarter 2014, fourth quarter 2013 and first quarter 2013, respectively.

(c) March 31, 2014 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).

"Comerica's first quarter 2014 financial results reflect solid loan growth across our footprint and nearly all of our business lines," said Ralph W. Babb Jr., chairman and chief executive officer. "The more than $1 billion, or 2 percent, increase in average total loans, compared to the fourth quarter 2013, was led by increases in general Middle Market, Commercial Real Estate, Energy, Technology & Life Sciences, and Corporate Banking, partially offset by a decrease in Mortgage Banker Finance. Other highlights in the first quarter included an increase of $458 million in period-end deposits, to $53.8 billion. We also had continued strong credit quality and well-controlled expenses. The deep and enduring relationships we have with our customers are making a positive difference in our bottom line.

"Our capital position remains a source of strength to support our growth. We repurchased 6.9 million shares under our 2013 capital plan, including 1.5 million shares in the first quarter of 2014. Combined with dividends, we returned $107 million, or 77 percent of first quarter net income, to shareholders. We were pleased the Federal Reserve did not object to our 2014 capital plan and contemplated capital distributions, including up

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 2

to $236 million in share repurchases for the four-quarter period that ends in the first quarter of 2015. We remain focused on providing a good return to shareholders while maintaining our strong capital ratios."

First Quarter 2014 Compared to Fourth Quarter 2013

• Average total loans increased $1.0 billion, or 2 percent, to $45.1 billion, primarily reflecting increases of $679 million, or 2 percent, in commercial loans and $231 million, or 2 percent, in combined commercial mortgage and real estate construction loans. The increase in commercial loans was reflected in almost all lines of business. Period-end total loans increased $1.0 billion, or 2 percent, to $46.5 billion, primarily reflecting a $959 million, or 3 percent, increase in commercial loans. The increase in commercial loans was primarily driven by increases in general Middle Market, Energy, Corporate Banking and Technology and Life Sciences.

• Average total deposits were stable at $52.8 billion, primarily reflecting a decrease in noninterest-bearing deposits of $296 million, partially offset by an increase in money market and interest-bearing checking deposits of $231 million. Period-end deposits increased $458 million, to $53.8 billion.

• Net interest income decreased $20 million to $410 million in the first quarter 2014, compared to $430 million in the fourth quarter 2013, and reflected decreases in both the accretion of the purchase discount on the acquired loan portfolio from an unusually high fourth quarter amount and interest collected on nonaccrual loans, as well as the impact of two fewer days in the first quarter 2014. The benefit from an increase in loan balances largely offset the impact of lower loan yields.

• The provision for credit losses was stable at $9 million in the first quarter 2014, reflecting continued strong credit quality. Net charge-offs were $12 million, or 0.10 percent of average loans, in the first quarter 2014.

• Noninterest income decreased $11 million to $208 million in the first quarter 2014, reflecting decreases of $6 million in customer-driven income and $5 million in noncustomer-driven income.

• Noninterest expenses decreased $67 million to $406 million in the first quarter 2014, primarily reflecting a $49 million decrease in litigation-related expenses and an $11 million decrease in salaries and benefits expense, largely due to a decrease in pension expense.

• As previously announced, the Federal Reserve completed its 2014 Comprehensive Capital Analysis and Review (CCAR) in March 2014 and did not object to the capital distributions contemplated in Comerica's capital plan, including up to $236 million in share repurchases for the four-quarter period ending first quarter 2015.

• Capital remained solid at March 31, 2014, as evidenced by an estimated Tier 1 common capital ratio of 10.54 percent and a tangible common equity ratio of 10.20 percent.

First Quarter 2014 Compared to First Quarter 2013

• Average total loans increased $458 million, or 1 percent, primarily reflecting an increase of $306 million, or 1 percent, in commercial loans, partially offset by a decrease of $115 million, or 1 percent, in combined commercial mortgage and real estate construction loans. The increase in commercial loans was primarily driven by increases in National Dealer Services, Technology and Life Sciences, and general Middle Market, partially offset by a decrease in Mortgage Banker Finance.

• Average total deposits increased $2.1 billion, or 4 percent, primarily reflecting increases of $1.7 billion, or 8 percent, in noninterest-bearing deposits and $348 million, or 1 percent, in interest-bearing deposits.

• Net income increased $5 million, or 4 percent, primarily the result of lower noninterest expenses and a decrease in the provision for credit losses, partially offset by decreases in net interest income and noncustomer-driven noninterest income.

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 3

Net Interest Income

(dollar amounts in millions)	1st Qtr '14			4th Qtr '13			1st Qtr '13
Net interest income	$	410		$	430		$	416
Net interest margin	2.77		%	2.86		%	2.88		%
Selected average balances:
Total earning assets	$	59,916		$	59,924		$	58,607
Total loans	45,075			44,054			44,617
Total investment securities	9,282			9,365			10,021
Federal Reserve Bank deposits (excess liquidity)	5,311			6,260			3,669
Total deposits	52,770			52,769			50,692
Total noninterest-bearing deposits	23,236			23,532			21,506

• Net interest income of $410 million in the first quarter 2014 decreased $20 million compared to the fourth quarter 2013.

◦ Interest on loans decreased by $21 million, including decreases in both the accretion of the purchase discount on the acquired loan portfolio from an unusually high fourth quarter 2013 amount (-$11 million) and interest collected on nonaccrual loans (-$2 million), as well as the impact of two fewer days in the first quarter (-$7 million). The benefit from an increase in loan balances (+$8 million) largely offset the impact of lower loan yields (-$9 million).

• The net interest margin of 2.77 percent decreased 9 basis points compared to the fourth quarter 2013. The decrease in net interest margin was primarily due to decreases in both the accretion of the purchase discount on the acquired loan portfolio from an unusually high fourth quarter 2013 amount (-8 basis points) and interest collected on nonaccrual loans (-1 basis point), as well as lower loan yields (-4 basis points), partially offset by the impact of a decrease in excess liquidity (+4 basis points).

• Average earning assets remained stable at $59.9 billion in the first quarter 2014, compared to the fourth quarter 2013, as an increase of $1.0 billion in average loans offset a decrease of $949 million in excess liquidity.

Noninterest Income

Noninterest income decreased $11 million to $208 million for the first quarter 2014, compared to $219 million for the fourth quarter 2013. Customer-driven fee income decreased $6 million and noncustomer-driven income decreased $5 million. The decrease in customer-driven fee income was primarily due to a $7 million decrease in syndication agent fees, a component of commercial lending fees. The decrease in noncustomer-driven income was primarily due to a $4 million decrease in deferred compensation plan asset returns, which was offset by a decrease in deferred compensation expense in noninterest expenses.

Comerica early adopted an amendment to U.S. generally accepted accounting principles in the first quarter 2014 related to the accounting for affordable housing projects that qualify for the low-income housing tax credit. Amortization of the initial investment cost of qualifying projects is now recorded in the provision for income taxes together with the tax credits and benefits received. Previously, the amortization was recorded as a reduction to other noncustomer-driven noninterest income. All prior period amounts have been restated to reflect the adoption of the amendment, which resulted in offsetting increases to other noninterest income and the provision for income taxes of $14 million, $15 million and $13 million in the first quarter 2014, fourth quarter 2013 and first quarter 2013, respectively.

Noninterest Expenses

Noninterest expenses decreased $67 million to $406 million for the first quarter 2014, compared to $473 million for the fourth quarter 2013, primarily reflecting a $49 million decrease in litigation-related expenses, an $11 million decrease in salaries and benefits expense and small decreases in several other categories of noninterest expense. The decrease in litigation-related expenses reflected the impact of high fourth quarter 2013 expense due to an unfavorable jury verdict in a lender liability case. The decrease in salaries and benefits expense primarily reflected a $13 million decrease in pension expense.

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 4

Credit Quality

(dollar amounts in millions)	1st Qtr '14			4th Qtr '13			1st Qtr '13
Net credit-related charge-offs	$	12		$	13		$	24
Net credit-related charge-offs/Average total loans	0.10		%	0.12		%	0.21		%
Provision for credit losses	$	9		$	9		$	16
Nonperforming loans (a)	338			374			515
Nonperforming assets (NPAs) (a)	352			383			555
NPAs/Total loans and foreclosed property	0.76		%	0.84		%	1.23		%
Loans past due 90 days or more and still accruing	$	10		$	16		$	25
Allowance for loan losses	594			598			617
Allowance for credit losses on lending-related commitments (b)	37			36			36
Total allowance for credit losses	631			634			653
Allowance for loan losses/Period-end total loans	1.28		%	1.32		%	1.37		%
Allowance for loan losses/Nonperforming loans	176			160			120

(a) Excludes loans acquired with credit impairment.

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

• Nonaccrual loans decreased $33 million, to $317 million at March 31, 2014, compared to $350 million at December 31, 2013.

• Criticized loans decreased $121 million, to $2.1 billion at March 31, 2014, compared to $2.3 billion at December 31, 2013.

• During the first quarter 2014, $19 million of borrower relationships over $2 million were transferred to nonaccrual status, a decrease of $4 million from the fourth quarter 2013.

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $65.7 billion and $7.3 billion, respectively, at March 31, 2014, compared to $65.2 billion and $7.2 billion, respectively, at December 31, 2013.

There were approximately 182 million common shares outstanding at March 31, 2014. Diluted weighted-average shares increased to 187 million in the first quarter 2014 as an increase in share dilution from options and warrants due to an increase in Comerica's stock price outpaced the impact of the repurchase of 1.5 million shares of common stock under the share repurchase program. Combined with the dividend of $0.19 per share, share repurchases of $72 million and dividends returned 77 percent of first quarter 2014 net income to shareholders.

The Federal Reserve completed its 2014 CCAR review in March 2014 and did not object to Comerica's capital plan and capital distributions contemplated in the plan. Comerica's capital plan provides for up to $236 million in share repurchases for the four-quarter period ending March 31, 2015, as well as the authority to fully redeem $150 million par value of subordinated notes due 2024. The notes are callable at par on or after July 15, 2014 and were recorded at a carrying value of $183 million at March 31, 2014. Due to the lack of certainty about the possible execution and timing of the call, the impact of the call is not reflected in the outlook for 2014. Comerica's capital plan further contemplates a 1-cent increase in the quarterly dividend to $0.20 per common share. The dividend proposal will be considered by Comerica's Board of Directors at its next scheduled meeting on April 22, 2014.

Comerica's tangible common equity ratio was 10.20 percent at March 31, 2014, an increase of 13 basis points from December 31, 2013. The estimated Tier 1 common capital ratio decreased 10 basis points, to 10.54 percent at March 31, 2014, from December 31, 2013. The estimated common equity Tier 1 ratio under fully phased-in Basel III capital rules and excluding most elements of AOCI was 10.3 percent percent at March 31, 2014.

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 5

Full-Year 2014 Outlook

Management expectations for full-year 2014, compared to 2013, assuming a continuation of the current economic and low rate environment, are as follows:

• Average loan growth consistent with 3 percent growth achieved in 2013, reflecting stabilization in Mortgage Banker Finance near average fourth quarter 2013 level and continued focus on pricing and structure discipline.

• Net interest income modestly lower, reflecting a decline in purchase accounting accretion, to $20 million to $30 million, and the effect of continued pressure from the low rate environment, partially offset by loan growth.

• Provision for credit losses and net charge-offs stable. Increases to the allowance for credit losses due to loan growth offset by continued strong credit quality.

• Noninterest income modestly lower, reflecting stable customer-driven fee income and lower noncustomer-driven income. Growth in fiduciary income and card fees offset by lower capital market activity.

• Noninterest expenses lower, reflecting lower litigation-related expenses and a more than 50 percent decrease in pension expense, to $35 million to $40 million.

• Income tax expense to approximate 32 percent of pre-tax income, reflecting the change in accounting for affordable housing projects that qualify for the low-income tax credit.

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 6

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 March 31, 2014 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2014 results compared to fourth quarter 2013.

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

(dollar amounts in millions)	1st Qtr '14					4th Qtr '13					1st Qtr '13
Business Bank	$	198		85	%	$	170		82	%	$	198		85	%
Retail Bank	9			4		15			7		10			4
Wealth Management	26			11		24			11		25			11
	233			100	%	209			100	%	233			100	%
Finance	(92		)			(92		)			(98		)
Other (a)	(2		)			—					(1		)
Total	$	139				$	117				$	134

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

Business Bank

(dollar amounts in millions)	1st Qtr '14		4th Qtr '13		1st Qtr '13
Net interest income (FTE)	$	371	$	387	$	375
Provision for credit losses	16		24		20
Noninterest income	87		95		90
Noninterest expenses	146		198		146
Net income	198		170		198
Net credit-related charge-offs	11		6		16
Selected average balances:
Assets	35,896		35,042		35,780
Loans	34,927		34,020		34,753
Deposits	27,023		26,873		25,514

• Average loans increased $907 million, primarily reflecting increases in general Middle Market, Commercial Real Estate, Energy, Technology and Life Sciences, and Corporate Banking, partially offset by decreases in Mortgage Banker Finance and Entertainment.

• Average deposits increased $150 million, primarily reflecting increases in Technology and Life Sciences and general Middle Market, partially offset by declines in Corporate Banking and Energy.

• Net interest income decreased $16 million, primarily due to a decrease in purchase accounting accretion, two fewer days in the first quarter and lower loan yields, partially offset by the benefit provided by an increase in average loans.

• The provision for credit losses decreased $8 million, primarily reflecting decreases in Corporate Banking and general Middle Market, partially offset by increases in Technology and Life Sciences and Commercial Real Estate.

• Noninterest income decreased $8 million, primarily due to decreases in commercial lending fees and securities trading income.

• Noninterest expenses decreased $52 million, primarily due to a decrease in litigation-related expenses from high fourth quarter expense due to an unfavorable jury verdict in a lender liability case.

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 7

Retail Bank

(dollar amounts in millions)	1st Qtr '14		4th Qtr '13			1st Qtr '13
Net interest income (FTE)	$	146	$	150		$	155
Provision for credit losses	2		(8		)	6
Noninterest income	41		43			41
Noninterest expenses	171		178			175
Net income	9		15			10
Net credit-related charge-offs	4		4			8
Selected average balances:
Assets	6,052		5,997			5,973
Loans	5,381		5,323			5,276
Deposits	21,361		21,438			21,049

• Average loans increased $58 million, primarily due to an increase in Retail Banking.

• Average deposits decreased $77 million, primarily due to a decrease in Small Business, partially offset by an increase in Retail Banking.

• Net interest income decreased $4 million, primarily due to lower loan yields and two fewer days in the first quarter.

• The provision for credit losses of $2 million increased $10 million, primarily reflecting an increase in Small Business.

• Noninterest expenses decreased $7 million, primarily due to a decrease in salaries and benefits expense.

Wealth Management

(dollar amounts in millions)	1st Qtr '14			4th Qtr '13			1st Qtr '13
Net interest income (FTE)	$	46		$	47		$	46
Provision for credit losses	(8		)	(9		)	(6		)
Noninterest income	64			61			65
Noninterest expenses	78			80			79
Net income	26			24			25
Net credit-related (recoveries) charge-offs	(3		)	3			—
Selected average balances:
Assets	4,939			4,873			4,738
Loans	4,767			4,711			4,588
Deposits	3,816			3,933			3,682

• Average loans increased $56 million, primarily due to an increase in Private Banking.

• Average deposits decreased $117 million, primarily due to a decrease in Private Banking.

• Noninterest income increased $3 million, primarily due to an increase in fiduciary income and small increases in several other categories of noninterest income.

• Noninterest expenses decreased $2 million, primarily due to a decrease in salaries and benefits expense.

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 8

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 March 31, 2014 and are presented on a fully taxable equivalent (FTE) basis.

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

(dollar amounts in millions)	1st Qtr '14					4th Qtr '13					1st Qtr '13
Michigan	$	68		29	%	$	32		15	%	$	78		34	%
California	63			27		77			37		56			24
Texas	46			20		53			25		43			18
Other Markets	56			24		47			23		56			24
	233			100	%	209			100	%	233			100	%
Finance & Other (a)	(94		)			(92		)			(99		)
Total	$	139				$	117				$	134

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

• Average loans increased $150 million, $393 million and $598 million in Michigan, California and Texas, respectively. The increase in average loans was broad-based with increases in nearly all business lines.

• Average deposits increased $141 million in Michigan primarily due to an increase in Corporate Banking, partially offset by a decrease in general Middle Market. In California, average deposits decreased $437 million, primarily due to decreases in Corporate Banking and Private Banking, partially offset by an increase in Technology and Life Sciences. The increase in Texas of $339 million was primarily due to increases in Technology and Life Sciences and general Middle Market, partially offset by a decrease in Energy.

• Net interest income decreased in all markets, primarily reflecting the impact of two fewer days in the first quarter 2014 and, in Texas, a decrease in accretion on the acquired loan portfolio from an unusually high fourth quarter 2013 amount. The benefit from an increase in loan balances largely offset the impact of lower loan yields.

• The provision for credit losses increased $19 million in California, primarily due to increases in general Middle Market, Commercial Real Estate and Technology and Life Sciences. In Other Markets, the provision declined $13 million, primarily due to decreases in Private Banking and Corporate Banking.

• Noninterest expenses in Michigan decreased $57 million, primarily due to a decrease in litigation-related expenses from high fourth quarter expense due to an unfavorable jury verdict in a lender liability case.

Michigan Market

(dollar amounts in millions)	1st Qtr '14		4th Qtr '13			1st Qtr '13
Net interest income (FTE)	$	183	$	187		$	190
Provision for credit losses	3		7			(7		)
Noninterest income	87		89			92
Noninterest expenses	161		218			168
Net income	68		32			78
Net credit-related charge-offs (recoveries)	—		(4		)	5
Selected average balances:
Assets	13,819		13,712			14,042
Loans	13,473		13,323			13,650
Deposits	20,642		20,501			20,254

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 9

California Market

(dollar amounts in millions)	1st Qtr '14		4th Qtr '13			1st Qtr '13
Net interest income (FTE)	$	172	$	176		$	171
Provision for credit losses	11		(8		)	21
Noninterest income	34		37			35
Noninterest expenses	96		98			97
Net income	63		77			56
Net credit-related charge-offs (recoveries)	10		(2		)	10
Selected average balances:
Assets	15,133		14,710			13,795
Loans	14,824		14,431			13,542
Deposits	14,782		15,219			14,356

Texas Market

(dollar amounts in millions)	1st Qtr '14		4th Qtr '13		1st Qtr '13
Net interest income (FTE)	$	136	$	147	$	134
Provision for credit losses	6		5		8
Noninterest income	31		33		31
Noninterest expenses	90		91		91
Net income	46		53		43
Net credit-related charge-offs	6		13		6
Selected average balances:
Assets	11,070		10,458		10,795
Loans	10,364		9,766		10,071
Deposits	10,875		10,536		9,959

Conference Call and Webcast

Comerica will host a conference call to review first quarter 2014 financial results at 7 a.m. CT Tuesday, April 15, 2014. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 10261396). 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.

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COMERICA REPORTS FIRST QUARTER 2014 NET INCOME OF $139 MILLION - 10

Forward-looking Statements

Any statements in this news release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “contemplates,” “feels,” “expects,” “estimates,” “seeks,” “strives,” “plans,” “intends,” “outlook,” “forecast,” “position,” “target,” “mission,” “assume,” “achievable,” “potential,” “strategy,” “goal,” “aspiration,” “opportunity,” “initiative,” “outcome,” “continue,” “remain,” “maintain,” “on course,” “trend,” “objective,” “looks forward,” "projects," "models" and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, as they relate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated on the beliefs and assumptions of Comerica's management based on information known to Comerica's management as of the date of this news release and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives of Comerica's management for future or past operations, products or services, and forecasts of Comerica's revenue, earnings or other measures of economic performance, including statements of profitability, business segments and subsidiaries, estimates of credit trends and global stability. Such statements reflect the view of Comerica's management as of this date with respect to future events and are subject to risks and uncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica's actual results could differ materially from those discussed. Factors that could cause or contribute to such differences are changes in general economic, political or industry conditions; changes in monetary and fiscal policies, including changes in interest rates; volatility and disruptions in global capital and credit markets; changes in Comerica's credit rating; the interdependence of financial service companies; changes in regulation or oversight; unfavorable developments concerning credit quality; the effects of more stringent capital or liquidity requirements; declines or other changes in the businesses or industries of Comerica's customers; operational difficulties, failure of technology infrastructure or information security incidents; the implementation of Comerica's strategies and business initiatives; Comerica's ability to utilize technology to efficiently and effectively develop, market and deliver new products and services; changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing; competitive product and pricing pressures among financial institutions within Comerica's markets; changes in customer behavior; any future strategic acquisitions or divestitures; management's ability to maintain and expand customer relationships; management's ability to retain key officers and employees; the impact of legal and regulatory proceedings or determinations; the effectiveness of methods of reducing risk exposures; the effects of terrorist activities and other hostilities; the effects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires and floods; changes in accounting standards and the critical nature of Comerica's accounting policies. Comerica cautions that the foregoing list of factors is not exclusive. For discussion of factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. In particular, please refer to “Item 1A. Risk Factors” beginning on page 12 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2013. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this news release or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Media Contact:	Investor Contacts:
Wayne J. Mielke	Darlene P. Persons
(214) 462-4463	(214) 462-6831
	Brittany L. Butler
	(214) 462-6834

CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)
Comerica Incorporated and Subsidiaries
	Three Months Ended
	March 31,			December 31,			March 31,
(in millions, except per share data)	2014			2013			2013
PER COMMON SHARE AND COMMON STOCK DATA
Diluted net income	$	0.73		$	0.62		$	0.70
Cash dividends declared	0.19			0.17			0.17
Common shareholders' equity (at period end)	40.09			39.23			37.41
Tangible common equity (at period end) (a)	36.50			35.65			33.90
Average diluted shares (in thousands)	186,701			186,166			187,442
KEY RATIOS
Return on average common shareholders' equity	7.68		%	6.66		%	7.68		%
Return on average assets	0.86			0.72			0.84
Tier 1 common capital ratio (a) (b)	10.54			10.64			10.37
Tier 1 risk-based capital ratio (b)	10.54			10.64			10.37
Total risk-based capital ratio (b)	12.95			13.10			13.41
Leverage ratio (b)	10.85			10.77			10.75
Tangible common equity ratio (a)	10.20			10.07			9.86
AVERAGE BALANCES
Commercial loans	$	28,362		$	27,683		$	28,056
Real estate construction loans:
Commercial Real Estate business line (c)	1,505			1,363			1,116
Other business lines (d)	322			289			198
Total real estate construction loans	1,827			1,652			1,314
Commercial mortgage loans:
Commercial Real Estate business line (c)	1,734			1,608			1,836
Other business lines (d)	7,036			7,106			7,562
Total commercial mortgage loans	8,770			8,714			9,398
Lease financing	848			838			857
International loans	1,301			1,303			1,282
Residential mortgage loans	1,724			1,679			1,556
Consumer loans	2,243			2,185			2,154
Total loans	45,075			44,054			44,617
Earning assets	59,916			59,924			58,607
Total assets	64,708			64,605			63,451
Noninterest-bearing deposits	23,236			23,532			21,506
Interest-bearing deposits	29,534			29,237			29,186
Total deposits	52,770			52,769			50,692
Common shareholders' equity	7,229			7,010			6,956
NET INTEREST INCOME
Net interest income (fully taxable equivalent basis)	$	411		$	431		$	416
Fully taxable equivalent adjustment	1			1			—
Net interest margin (fully taxable equivalent basis)	2.77		%	2.86		%	2.88		%
CREDIT QUALITY
Nonaccrual loans	$	317		$	350		$	494
Reduced-rate loans	21			24			21
Total nonperforming loans (e)	338			374			515
Foreclosed property	14			9			40
Total nonperforming assets (e)	352			383			555
Loans past due 90 days or more and still accruing	10			16			25
Gross loan charge-offs	30			41			38
Loan recoveries	18			28			14
Net loan charge-offs	12			13			24
Allowance for loan losses	594			598			617
Allowance for credit losses on lending-related commitments	37			36			36
Total allowance for credit losses	631			634			653
Allowance for loan losses as a percentage of total loans	1.28		%	1.32		%	1.37		%
Net loan charge-offs as a percentage of average total loans (f)	0.10			0.12			0.21
Nonperforming assets as a percentage of total loans and foreclosed property (e)	0.76			0.84			1.23
Allowance for loan losses as a percentage of total nonperforming loans	176			160			120

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

(b) March 31, 2014 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.

11

CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries
	March 31,			December 31,			March 31,
(in millions, except share data)	2014			2013			2013
	(unaudited)						(unaudited)
ASSETS
Cash and due from banks	$	1,186		$	1,140		$	877
Interest-bearing deposits with banks	4,434			5,311			4,720
Other short-term investments	105			112			115
Investment securities available-for-sale	9,487			9,307			10,286
Commercial loans	29,774			28,815			28,508
Real estate construction loans	1,847			1,762			1,396
Commercial mortgage loans	8,801			8,787			9,317
Lease financing	849			845			853
International loans	1,250			1,327			1,269
Residential mortgage loans	1,751			1,697			1,568
Consumer loans	2,217			2,237			2,156
Total loans	46,489			45,470			45,067
Less allowance for loan losses	(594		)	(598		)	(617		)
Net loans	45,895			44,872			44,450
Premises and equipment	583			594			618
Accrued income and other assets	3,991			3,891			3,819
Total assets	$	65,681		$	65,227		$	64,885
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits	$	23,955		$	23,875		$	22,777
Money market and interest-bearing checking deposits	22,485			22,332			21,540
Savings deposits	1,742			1,673			1,652
Customer certificates of deposit	5,099			5,063			5,753
Foreign office time deposits	469			349			395
Total interest-bearing deposits	29,795			29,417			29,340
Total deposits	53,750			53,292			52,117
Short-term borrowings	160			253			58
Accrued expenses and other liabilities	954			986			1,023
Medium- and long-term debt	3,534			3,543			4,699
Total liabilities	58,398			58,074			57,897
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 228,164,824 shares	1,141			1,141			1,141
Capital surplus	2,182			2,179			2,157
Accumulated other comprehensive loss	(325		)	(391		)	(410		)
Retained earnings	6,414			6,321			6,020
Less cost of common stock in treasury - 46,492,524 shares at 3/31/14, 45,860,786 shares at 12/31/13 and 41,361,612 shares at 3/31/13	(2,129		)	(2,097		)	(1,920		)
Total shareholders' equity	7,283			7,153			6,988
Total liabilities and shareholders' equity	$	65,681		$	65,227		$	64,885

12

CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
Comerica Incorporated and Subsidiaries
	First		Fourth		Third			Second			First		First Quarter 2014 Compared To:
	Quarter		Quarter		Quarter			Quarter			Quarter		Fourth Quarter 2013					First Quarter 2013
(in millions, except per share data)	2014		2013		2013			2013			2013		Amount			Percent		Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	376	$	397	$	381		$	388		$	390	$	(21	)	(5	)%	$	(14	)	(3	)%
Interest on investment securities	55		55		54			52			53		—			—		2			2
Interest on short-term investments	4		4		4			3			3		—			—		1			15
Total interest income	435		456		439			443			446		(21		)	(5	)	(11		)	(3	)
INTEREST EXPENSE
Interest on deposits	11		12		13			15			15		(1		)	(8	)	(4		)	(25	)
Interest on medium- and long-term debt	14		14		14			14			15		—			—		(1		)	(13	)
Total interest expense	25		26		27			29			30		(1		)	(4	)	(5		)	(19	)
Net interest income	410		430		412			414			416		(20		)	(5	)	(6		)	(1	)
Provision for credit losses	9		9		8			13			16		—			—		(7		)	(43	)
Net interest income after provision for credit losses	401		421		404			401			400		(20		)	(5	)	1			—
NONINTEREST INCOME
Service charges on deposit accounts	54		53		53			53			55		1			2		(1		)	(2	)
Fiduciary income	44		43		41			44			43		1			4		1			4
Commercial lending fees	20		28		28			22			21		(8		)	(27	)	(1		)	(7	)
Card fees	19		19		20			18			17		—			—		2			15
Letter of credit fees	14		15		17			16			16		(1		)	(6	)	(2		)	(12	)
Bank-owned life insurance	9		9		12			10			9		—			—		—			—
Foreign exchange income	9		9		9			9			9		—			—		—			—
Brokerage fees	5		4		4			4			5		1			11		—			—
Net securities gains (losses)	1		—		1			(2		)	—		1			N/M		1			N/M
Other noninterest income	33		39		43			48			38		(6		)	(19	)	(5		)	(16	)
Total noninterest income	208		219		228			222			213		(11		)	(5	)	(5		)	(2	)
NONINTEREST EXPENSES
Salaries and benefits expense	247		258		255			245			251		(11		)	(4	)	(4		)	(2	)
Net occupancy expense	40		41		41			39			39		(1		)	(2	)	1			3
Equipment expense	14		15		15			15			15		(1		)	(5	)	(1		)	(5	)
Outside processing fee expense	28		30		31			30			28		(2		)	(4	)	—			—
Software expense	22		24		22			22			22		(2		)	(7	)	—			—
Litigation-related expense	3		52		(4		)	1			3		(49		)	(94	)	—			—
FDIC insurance expense	8		7		9			8			9		1			10		(1		)	(14	)
Advertising expense	6		3		6			6			6		3			77		—			—
Other noninterest expenses	38		43		42			50			43		(5		)	(13	)	(5		)	(13	)
Total noninterest expenses	406		473		417			416			416		(67		)	(14	)	(10		)	(2	)
Income before income taxes	203		167		215			207			197		36			21		6			3
Provision for income taxes	64		50		68			64			63		14			27		1			1
NET INCOME	139		117		147			143			134		22			19		5			4
Less income allocated to participating securities	2		2		2			2			2		—			—		—			—
Net income attributable to common shares	$	137	$	115	$	145		$	141		$	132	$	22		19	%	$	5		4	%
Earnings per common share:
Basic	$	0.76	$	0.64	$	0.80		$	0.77		$	0.71	$	0.12		19	%	$	0.05		7	%
Diluted	0.73		0.62		0.78			0.76			0.70		0.11			18		0.03			4
Comprehensive income	205		267		144			15			137		(62		)	(23	)	68			49
Cash dividends declared on common stock	35		31		31			32			32		4			11		3			9
Cash dividends declared per common share	0.19		0.17		0.17			0.17			0.17		0.02			12		0.02			12

N/M - Not Meaningful

13

ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)
Comerica Incorporated and Subsidiaries
	2014			2013
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Balance at beginning of period	$	598		$	604		$	613		$	617		$	629
Loan charge-offs:
Commercial	19			31			20			19			21
Real estate construction:
Commercial Real Estate business line (a)	—			—			1			2			—
Commercial mortgage:
Commercial Real Estate business line (a)	5			1			6			2			1
Other business lines (b)	3			4			3			7			12
Total commercial mortgage	8			5			9			9			13
Residential mortgage	—			1			1			1			1
Consumer	3			4			8			4			3
Total loan charge-offs	30			41			39			35			38
Recoveries on loans previously charged-off:
Commercial	11			17			8			11			6
Real estate construction	—			3			2			1			1
Commercial mortgage	3			5			7			3			5
Lease financing	2			—			1			—			—
Residential mortgage	—			1			1			1			1
Consumer	2			2			1			2			1
Total recoveries	18			28			20			18			14
Net loan charge-offs	12			13			19			17			24
Provision for loan losses	8			7			10			13			12
Balance at end of period	$	594		$	598		$	604		$	613		$	617
Allowance for loan losses as a percentage of total loans	1.28		%	1.32		%	1.37		%	1.35		%	1.37		%
Net loan charge-offs as a percentage of average total loans	0.10			0.12			0.18			0.15			0.21

(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
	2014		2013
(in millions)	1st Qtr		4th Qtr		3rd Qtr			2nd Qtr		1st Qtr
Balance at beginning of period	$	36	$	34	$	36		$	36	$	32
Add: Provision for credit losses on lending-related commitments	1		2		(2		)	—		4
Balance at end of period	$	37	$	36	$	34		$	36	$	36
Unfunded lending-related commitments sold	$	—	$	1	$	2		$	1	$	2

14

NONPERFORMING ASSETS (unaudited)
Comerica Incorporated and Subsidiaries
	2014			2013
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS
Nonaccrual loans:
Business loans:
Commercial	$	54		$	81		$	107		$	102		$	102
Real estate construction:
Commercial Real Estate business line (a)	18			20			24			26			30
Other business lines (b)	1			1			1			2			3
Total real estate construction	19			21			25			28			33
Commercial mortgage:
Commercial Real Estate business line (a)	58			51			67			69			86
Other business lines (b)	104			105			139			157			178
Total commercial mortgage	162			156			206			226			264
International	—			4			—			—			—
Total nonaccrual business loans	235			262			338			356			399
Retail loans:
Residential mortgage	48			53			63			62			65
Consumer:
Home equity	32			33			34			28			28
Other consumer	2			2			2			3			2
Total consumer	34			35			36			31			30
Total nonaccrual retail loans	82			88			99			93			95
Total nonaccrual loans	317			350			437			449			494
Reduced-rate loans	21			24			22			22			21
Total nonperforming loans (c)	338			374			459			471			515
Foreclosed property	14			9			19			29			40
Total nonperforming assets (c)	$	352		$	383		$	478		$	500		$	555
Nonperforming loans as a percentage of total loans	0.73		%	0.82		%	1.04		%	1.04		%	1.14		%
Nonperforming assets as a percentage of total loans  and foreclosed property	0.76			0.84			1.08			1.10			1.23
Allowance for loan losses as a percentage of total nonperforming loans	176			160			131			130			120
Loans past due 90 days or more and still accruing	$	10		$	16		$	25		$	20		$	25
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	350		$	437		$	449		$	494		$	519
Loans transferred to nonaccrual (d)	19			23			50			37			34
Nonaccrual business loan gross charge-offs (e)	(27		)	(33		)	(25		)	(25		)	(34		)
Nonaccrual business loans sold (f)	(3		)	(14		)	(17		)	(9		)	(7		)
Payments/Other (g)	(22		)	(63		)	(20		)	(48		)	(18		)
Nonaccrual loans at end of period	$	317		$	350		$	437		$	449		$	494
(a) Primarily loans to real estate developers.
(b) Primarily loans secured by owner-occupied real estate.
(c) Excludes loans acquired with credit impairment.
(d) Based on an analysis of nonaccrual loans with book balances greater than $2 million.
(e) Analysis of gross loan charge-offs:
Nonaccrual business loans	$	27		$	33		$	25		$	25		$	34
Performing criticized loans	—			3			5			5			—
Consumer and residential mortgage loans	3			5			9			5			4
Total gross loan charge-offs	$	30		$	41		$	39		$	35		$	38
(f) Analysis of loans sold:
Nonaccrual business loans	$	3		$	14		$	17		$	9		$	7
Performing criticized loans	6			22			31			40			12
Total criticized loans sold	$	9		$	36		$	48		$	49		$	19
(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.

15

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
Comerica Incorporated and Subsidiaries
	Three Months Ended
	March 31, 2014							December 31, 2013							March 31, 2013
	Average					Average		Average					Average		Average					Average
(dollar amounts in millions)	Balance			Interest		Rate		Balance			Interest		Rate		Balance			Interest		Rate
Commercial loans	$	28,362		$	221	3.17	%	$	27,683		$	228	3.26	%	$	28,056		$	229	3.31	%
Real estate construction loans	1,827			15		3.40		1,652			15		3.50		1,314			13		4.15
Commercial mortgage loans	8,770			86		3.97		8,714			101		4.62		9,398			95		4.08
Lease financing	848			9		4.07		838			7		3.27		857			7		3.23
International loans	1,301			12		3.68		1,303			12		3.78		1,282			11		3.62
Residential mortgage loans	1,724			17		3.86		1,679			17		3.97		1,556			17		4.39
Consumer loans	2,243			17		3.16		2,185			18		3.24		2,154			18		3.36
Total loans (a)	45,075			377		3.39		44,054			398		3.58		44,617			390		3.54
Mortgage-backed securities available-for-sale	8,911			55		2.42		8,969			55		2.46		9,635			53		2.25
Other investment securities available-for-sale	371			—		0.43		396			—		0.45		386			—		0.50
Total investment securities available-for-sale	9,282			55		2.34		9,365			55		2.37		10,021			53		2.17
Interest-bearing deposits with banks (b)	5,448			4		0.26		6,400			4		0.26		3,852			2		0.27
Other short-term investments	111			—		0.66		105			—		0.69		117			1		2.30
Total earning assets	59,916			436		2.94		59,924			457		3.03		58,607			446		3.09
Cash and due from banks	913							970							979
Allowance for loan losses	(603		)					(609		)					(633		)
Accrued income and other assets	4,482							4,320							4,498
Total assets	$	64,708						$	64,605						$	63,451
Money market and interest-bearing checking deposits	$	22,261		6		0.11		$	22,030		6		0.12		$	21,294		7		0.14
Savings deposits	1,700			—		0.03		1,667			—		0.03		1,623			—		0.03
Customer certificates of deposit	5,109			5		0.36		5,078			5		0.38		5,744			7		0.47
Foreign office time deposits	464			—		0.42		462			1		0.47		525			1		0.55
Total interest-bearing deposits	29,534			11		0.15		29,237			12		0.17		29,186			15		0.21
Short-term borrowings	185			—		0.03		279			—		0.06		123			—		0.11
Medium- and long-term debt	3,545			14		1.53		3,563			14		1.53		4,707			15		1.32
Total interest-bearing sources	33,264			25		0.30		33,079			26		0.31		34,016			30		0.36
Noninterest-bearing deposits	23,236							23,532							21,506
Accrued expenses and other liabilities	979							984							973
Total shareholders' equity	7,229							7,010							6,956
Total liabilities and shareholders' equity	$	64,708						$	64,605						$	63,451
Net interest income/rate spread (FTE)				$	411	2.64					$	431	2.72					$	416	2.73
FTE adjustment				$	1						$	1						$	—
Impact of net noninterest-bearing sources of funds						0.13							0.14							0.15
Net interest margin (as a percentage of average earning assets) (FTE) (a) (b)						2.77	%						2.86	%						2.88	%

(a) Accretion of the purchase discount on the acquired loan portfolio of $12 million, $23 million and $11 million in the first quarter of 2014 and the fourth and first quarters of 2013, respectively, increased the net interest margin by 8 basis points, 15 basis points and 8 basis points in each respective period.

(b) Excess liquidity, represented by average balances deposited with the Federal Reserve Bank, reduced the net interest margin by 24 basis points, 31 basis points and 17 basis points in the first quarter of 2014 and the fourth and first quarters of 2013, respectively.

16

CONSOLIDATED STATISTICAL DATA (unaudited)
Comerica Incorporated and Subsidiaries
	March 31,			December 31,			September 30,			June 30,			March 31,
(in millions, except per share data)	2014			2013			2013			2013			2013
Commercial loans:
Floor plan	$	3,437		$	3,504		$	2,869		$	3,241		$	2,963
Other	26,337			25,311			25,028			25,945			25,545
Total commercial loans	29,774			28,815			27,897			29,186			28,508
Real estate construction loans:
Commercial Real Estate business line (a)	1,507			1,447			1,283			1,223			1,185
Other business lines (b)	340			315			269			256			211
Total real estate construction loans	1,847			1,762			1,552			1,479			1,396
Commercial mortgage loans:
Commercial Real Estate business line (a)	1,820			1,678			1,592			1,743			1,812
Other business lines (b)	6,981			7,109			7,193			7,264			7,505
Total commercial mortgage loans	8,801			8,787			8,785			9,007			9,317
Lease financing	849			845			829			843			853
International loans	1,250			1,327			1,286			1,209			1,269
Residential mortgage loans	1,751			1,697			1,650			1,611			1,568
Consumer loans:
Home equity	1,533			1,517			1,501			1,474			1,498
Other consumer	684			720			651			650			658
Total consumer loans	2,217			2,237			2,152			2,124			2,156
Total loans	$	46,489		$	45,470		$	44,151		$	45,459		$	45,067
Goodwill	$	635		$	635		$	635		$	635		$	635
Core deposit intangible	15			16			17			18			19
Loan servicing rights	1			1			1			2			2
Tier 1 common capital ratio (c) (d)	10.54		%	10.64		%	10.72		%	10.43		%	10.37		%
Tier 1 risk-based capital ratio (c)	10.54			10.64			10.72			10.43			10.37
Total risk-based capital ratio (c)	12.95			13.10			13.42			13.29			13.41
Leverage ratio (c)	10.85			10.77			10.88			10.81			10.75
Tangible common equity ratio (d)	10.20			10.07			9.87			10.04			9.86
Common shareholders' equity per share of common stock	$	40.09		$	39.23		$	37.94		$	37.32		$	37.41
Tangible common equity per share of common stock (d)	36.50			35.65			34.38			33.79			33.90
Market value per share for the quarter:
High	53.50			48.69			43.49			40.44			36.99
Low	43.96			38.64			38.56			33.55			30.73
Close	51.80			47.54			39.31			39.83			35.95
Quarterly ratios:
Return on average common shareholders' equity	7.68		%	6.66		%	8.50		%	8.23		%	7.68		%
Return on average assets	0.86			0.72			0.92			0.90			0.84
Efficiency ratio (e)	65.79			72.81			65.18			65.03			66.15
Number of banking centers	483			483			484			484			487
Number of employees - full time equivalent	8,907			8,948			8,918			8,929			9,001

(a) Primarily loans to real estate developers.

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

(c) March 31, 2014 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.

17

PARENT COMPANY ONLY BALANCE SHEETS (unaudited)
Comerica Incorporated
	March 31,			December 31,			March 31,
(in millions, except share data)	2014			2013			2013
ASSETS
Cash and due from subsidiary bank	$	5		$	31		$	23
Short-term investments with subsidiary bank	531			482			450
Other short-term investments	97			96			91
Investment in subsidiaries, principally banks	7,276			7,174			7,054
Premises and equipment	3			4			4
Other assets	156			139			156
Total assets	$	8,068		$	7,926		$	7,778
LIABILITIES AND SHAREHOLDERS' EQUITY
Medium- and long-term debt	$	614		$	617		$	626
Other liabilities	171			156			164
Total liabilities	785			773			790
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 228,164,824 shares	1,141			1,141			1,141
Capital surplus	2,182			2,179			2,157
Accumulated other comprehensive loss	(325		)	(391		)	(410		)
Retained earnings	6,414			6,321			6,020
Less cost of common stock in treasury - 46,492,524 shares at 3/31/14, 45,860,786 shares at 12/31/13 and 41,361,612 shares at 3/31/13	(2,129		)	(2,097		)	(1,920		)
Total shareholders' equity	7,283			7,153			6,988
Total liabilities and shareholders' equity	$	8,068		$	7,926		$	7,778

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited)
Comerica Incorporated and Subsidiaries
								Accumulated
	Common Stock							Other									Total
	Shares				Capital			Comprehensive			Retained			Treasury			Shareholders'
(in millions, except per share data)	Outstanding		Amount		Surplus			Loss			Earnings			Stock			Equity
BALANCE AT DECEMBER 31, 2012	188.3		$	1,141	$	2,162		$	(413	)	$	5,931		$	(1,879	)	$	6,942
Net income	—		—		—			—			134			—			134
Other comprehensive income, net of tax	—		—		—			3			—			—			3
Cash dividends declared on common stock ($0.17 per share)	—		—		—			—			(32		)	—			(32		)
Purchase of common stock	(2.2	)	—		—			—			—			(74		)	(74		)
Net issuance of common stock under employee stock plans	0.7		—		(15		)	—			(13		)	33			5
Share-based compensation	—		—		10			—			—			—			10
BALANCE AT MARCH 31, 2013	186.8		$	1,141	$	2,157		$	(410	)	$	6,020		$	(1,920	)	$	6,988
BALANCE AT DECEMBER 31, 2013	182.3		$	1,141	$	2,179		$	(391	)	$	6,321		$	(2,097	)	$	7,153
Cumulative effect of adoption of new accounting principle	—		—		—			—			(3		)	—			(3		)
Net income	—		—		—			—			139			—			139
Other comprehensive income, net of tax	—		—		—			66			—			—			66
Cash dividends declared on common stock ($0.19 per share)	—		—		—			—			(35		)	—			(35		)
Purchase of common stock	(1.7	)	—		—			—			—			(80		)	(80		)
Net issuance of common stock under employee stock plans	1.1		—		(11		)	—			(8		)	48			29
Share-based compensation	—		—		14			—			—			—			14
BALANCE AT MARCH 31, 2014	181.7		$	1,141	$	2,182		$	(325	)	$	6,414		$	(2,129	)	$	7,283

18

BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)
Comerica Incorporated and Subsidiaries
(dollar amounts in millions)	Business			Retail			Wealth
Three Months Ended March 31, 2014	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	371		$	146		$	46		$	(158	)	$	6		$	411
Provision for credit losses	16			2			(8		)	—			(1		)	9
Noninterest income	87			41			64			14			2			208
Noninterest expenses	146			171			78			3			8			406
Provision (benefit) for income taxes (FTE)	98			5			14			(55		)	3			65
Net income (loss)	$	198		$	9		$	26		$	(92	)	$	(2	)	$	139
Net credit-related charge-offs (recoveries)	$	11		$	4		$	(3	)	$	—		$	—		$	12
Selected average balances:
Assets	$	35,896		$	6,052		$	4,939		$	11,129		$	6,692		$	64,708
Loans	34,927			5,381			4,767			—			—			45,075
Deposits	27,023			21,361			3,816			353			217			52,770
Statistical data:
Return on average assets (a)	2.20		%	0.16		%	2.15		%	N/M			N/M			0.86		%
Efficiency ratio (b)	31.96			91.44			71.31			N/M			N/M			65.79
	Business			Retail			Wealth
Three Months Ended December 31, 2013	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	387		$	150		$	47		$	(161	)	$	8		$	431
Provision for credit losses	24			(8		)	(9		)	—			2			9
Noninterest income	95			43			61			14			6			219
Noninterest expenses	198			178			80			2			15			473
Provision (benefit) for income taxes (FTE)	90			8			13			(57		)	(3		)	51
Net income (loss)	$	170		$	15		$	24		$	(92	)	$	—		$	117
Net credit-related charge-offs	$	6		$	4		$	3		$	—		$	—		$	13
Selected average balances:
Assets	$	35,042		$	5,997		$	4,873		$	11,032		$	7,661		$	64,605
Loans	34,020			5,323			4,711			—			—			44,054
Deposits	26,873			21,438			3,933			323			202			52,769
Statistical data:
Return on average assets (a)	1.94		%	0.27		%	1.93		%	N/M			N/M			0.72		%
Efficiency ratio (b)	40.97			92.27			74.64			N/M			N/M			72.81
	Business			Retail			Wealth
Three Months Ended March 31, 2013	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	375		$	155		$	46		$	(167	)	7			$	416
Provision for credit losses	20			6			(6		)	—			(4		)	16
Noninterest income	90			41			65			14			3			213
Noninterest expenses	146			175			79			3			13			416
Provision (benefit) for income taxes (FTE)	101			5			13			(58		)	2			63
Net income (loss)	$	198		$	10		$	25		$	(98	)	$	(1	)	$	134
Net credit-related charge-offs	$	16		$	8		$	—		$	—		$	—		$	24
Selected average balances:
Assets	$	35,780		$	5,973		$	4,738		$	11,747		$	5,213		$	63,451
Loans	34,753			5,276			4,588			—			—			44,617
Deposits	25,514			21,049			3,682			275			172			50,692
Statistical data:
Return on average assets (a)	2.21		%	0.18		%	2.12		%	N/M			N/M			0.84		%
Efficiency ratio (b)	31.38			89.37			71.09			N/M			N/M			66.15

(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

19

MARKET SEGMENT FINANCIAL RESULTS (unaudited)
Comerica Incorporated and Subsidiaries
(dollar amounts in millions)										Other			Finance
Three Months Ended March 31, 2014	Michigan			California			Texas			Markets			& Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	183		$	172		$	136		$	72		$	(152	)	$	411
Provision for credit losses	3			11			6			(10		)	(1		)	9
Noninterest income	87			34			31			40			16			208
Noninterest expenses	161			96			90			48			11			406
Provision (benefit) for income taxes (FTE)	38			36			25			18			(52		)	65
Net income (loss)	$	68		$	63		$	46		$	56		$	(94	)	$	139
Net credit-related charge-offs (recoveries)	$	—		$	10		$	6		$	(4	)	$	—		$	12
Selected average balances:
Assets	$	13,819		$	15,133		$	11,070		$	6,865		$	17,821		$	64,708
Loans	13,473			14,824			10,364			6,414			—			45,075
Deposits	20,642			14,782			10,875			5,901			570			52,770
Statistical data:
Return on average assets (a)	1.26		%	1.59		%	1.50		%	3.28		%	N/M			0.86		%
Efficiency ratio (b)	59.71			46.72			53.83			43.39			N/M			65.79
										Other			Finance
Three Months Ended December 31, 2013	Michigan			California			Texas			Markets			& Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	187		$	176		$	147		$	74		$	(153	)	$	431
Provision for credit losses	7			(8		)	5			3			2			9
Noninterest income	89			37			33			40			20			219
Noninterest expenses	218			98			91			49			17			473
Provision (benefit) for income taxes (FTE)	19			46			31			15			(60		)	51
Net income (loss)	$	32		$	77		$	53		$	47		$	(92	)	$	117
Net credit-related charge-offs (recoveries)	$	(4	)	$	(2	)	$	13		$	6		$	—		$	13
Selected average balances:
Assets	$	13,712		$	14,710		$	10,458		$	7,032		$	18,693		$	64,605
Loans	13,323			14,431			9,766			6,534			—			44,054
Deposits	20,501			15,219			10,536			5,988			525			52,769
Statistical data:
Return on average assets (a)	0.59		%	1.90		%	1.80		%	2.68		%	N/M			0.72		%
Efficiency ratio (b)	79.04			46.11			50.84			42.34			N/M			72.81
										Other			Finance
Three Months Ended March 31, 2013	Michigan			California			Texas			Markets			& Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	190		$	171		$	134		$	81		$	(160	)	$	416
Provision for credit losses	(7		)	21			8			(2		)	(4		)	16
Noninterest income	92			35			31			38			17			213
Noninterest expenses	168			97			91			44			16			416
Provision (benefit) for income taxes (FTE)	43			32			23			21			(56		)	63
Net income (loss)	$	78		$	56		$	43		$	56		$	(99	)	$	134
Net credit-related charge-offs	$	5		$	10		$	6		$	3		$	—		$	24
Selected average balances:
Assets	$	14,042		$	13,795		$	10,795		$	7,859		$	16,960		$	63,451
Loans	13,650			13,542			10,071			7,354			—			44,617
Deposits	20,254			14,356			9,959			5,676			447			50,692
Statistical data:
Return on average assets (a)	1.47		%	1.45		%	1.54		%	2.86		%	N/M			0.84		%
Efficiency ratio (b)	59.53			47.04			54.99			37.41			N/M			66.15

(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

20

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)
Comerica Incorporated and Subsidiaries
	March 31,			December 31,			September 30,			June 30,			March 31,
(dollar amounts in millions)	2014			2013			2013			2013			2013
Tier 1 Common Capital Ratio:
Tier 1 and Tier 1 common capital (a) (b)	$	6,961		$	6,895		$	6,862		$	6,800		$	6,748
Risk-weighted assets (a) (b)	66,051			64,825			64,027			65,220			65,099
Tier 1 and Tier 1 common risk-based capital ratio (b)	10.54		%	10.64		%	10.72		%	10.43		%	10.37		%
Basel III Common Equity Tier 1 Capital Ratio:
Tier 1 common capital (b)	$	6,961		$	6,895		$	6,862		$	6,800		$	6,748
Basel III adjustments (c)	(3		)	(6		)	(4		)	—			(1		)
Basel III common equity Tier 1 capital (c)	6,958			6,889			6,858			6,800			6,747
Risk-weighted assets (a) (b)	$	66,051		$	64,825		$	64,027		$	65,220		$	65,099
Basel III adjustments (c)	1,603			1,754			1,726			2,091			1,996
Basel III risk-weighted assets (c)	$	67,654		$	66,579		$	65,753		$	67,311		$	67,095
Tier 1 common capital ratio (b)	10.5		%	10.6		%	10.7		%	10.4		%	10.4		%
Basel III common equity Tier 1 capital ratio (c)	10.3			10.3			10.4			10.1			10.1
Tangible Common Equity Ratio:
Common shareholders' equity	$	7,283		$	7,153		$	6,969		$	6,911		$	6,988
Less:
Goodwill	635			635			635			635			635
Other intangible assets	16			17			18			20			21
Tangible common equity	$	6,632		$	6,501		$	6,316		$	6,256		$	6,332
Total assets	$	65,681		$	65,227		$	64,670		$	62,947		$	64,885
Less:
Goodwill	635			635			635			635			635
Other intangible assets	16			17			18			20			21
Tangible assets	$	65,030		$	64,575		$	64,017		$	62,292		$	64,229
Common equity ratio	11.09		%	10.97		%	10.78		%	10.98		%	10.77		%
Tangible common equity ratio	10.20			10.07			9.87			10.04			9.86
Tangible Common Equity per Share of Common Stock:
Common shareholders' equity	$	7,283		$	7,153		$	6,969		$	6,911		$	6,988
Tangible common equity	6,632			6,501			6,316			6,256			6,332
Shares of common stock outstanding (in millions)	182			182			184			185			187
Common shareholders' equity per share of common stock	$	40.09		$	39.23		$	37.94		$	37.32		$	37.41
Tangible common equity per share of common stock	36.50			35.65			34.38			33.79			33.90

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

(b) March 31, 2014 Tier 1 capital and risk-weighted assets are estimated.

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

The Tier 1 common capital ratio removes preferred stock and qualifying trust preferred securities from Tier 1 capital as defined by and calculated in conformity with bank regulations. The Basel III common equity Tier 1 capital ratio further adjusts Tier 1 common capital and risk-weighted assets to account for the final rule approved by U.S. banking regulators in July 2013 for the U.S. adoption of the Basel III regulatory capital framework. 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.

21