8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

---------------

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 16, 2015

COMERICA INCORPORATED

(Exact name of registrant as specified in its charter)

Delaware ------------	1-10706 ----------	38-1998421 ---------------
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

Comerica Bank Tower

1717 Main Street, MC 6404

Dallas, Texas 75201

------------------------------

(Address of principal executive offices) (zip code)

(214) 462-6831

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(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEMS 2.02 and 7.01 RESULTS OF OPERATIONS AND FINANCIAL CONDITIONAND REGULATION FD DISCLOSURE

Comerica Incorporated (“Comerica”) today released its earnings for the quarter ended September 30, 2015. A copy of the press release and the presentation slides which will be discussed in Comerica's webcast earnings call are attached hereto as Exhibits 99.1 and 99.2, respectively.

The information in this report (including Exhibits 99.1 and 99.2 hereto) is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

99.1Press Release dated October 16, 2015

99.2Earnings Presentation Slides

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COMERICA INCORPORATED

By: /s/ Jon W. Bilstrom        

Name: Jon W. Bilstrom

Title: Executive Vice President - Governance,

Regulatory Relations and Legal Affairs,

and Secretary

October 16, 2015

EXHIBIT INDEX

Exhibit No. Description

99.1 Press Release dated October 16, 2015

99.2 Earnings Presentation Slides

EX-99.1

COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION,

OR 74 CENTS PER SHARE

Average Loan Growth of $1.8 Billion, or 4 Percent, and

Average Deposit Growth of $4.0 Billion, or 7 Percent, Compared to Third Quarter 2014

Returned $96 Million to Shareholders Through Share Repurchases and Dividends

Credit Quality Remained Strong

DALLAS/October 16, 2015 -- Comerica Incorporated (NYSE: CMA) today reported third quarter 2015 net income of $136 million, compared to $135 million for the second quarter 2015 and $154 million for the third quarter 2014. Earnings per diluted share were 74 cents for third quarter 2015 compared to 73 cents for second quarter 2015 and 82 cents for third quarter 2014.

(dollar amounts in millions, except per share data)	3rd Qtr '15			2nd Qtr '15			3rd Qtr '14
Net interest income	$	422		$	421		$	414
Provision for credit losses	26			47			5
Noninterest income (a)	264			261			215
Noninterest expenses (a) (b)	461			436			397			(c)
Provision for income taxes	63			64			73
Net income	136			135			154
Net income attributable to common shares	134			134			152
Diluted income per common share	0.74			0.73			0.82
Average diluted shares (in millions)	181			182			185
Basel III common equity Tier 1 capital ratio (d) (e)	10.58		%	10.40		%	n/a
Tier 1 common capital ratio (d) (f)	n/a			n/a			10.59		%
Tangible common equity ratio (f)	9.91			9.92			9.94

(a) Effective January 1, 2015, contractual changes to a card program resulted in a change to the accounting presentation of the related revenues and expenses. The effect of this change was increases of $48 million and $44 million to both noninterest income and noninterest expenses in both the third and second quarters of 2015, respectively.

(b) Included net releases of litigation reserves of $3 million, $30 million and $2 million in the third quarter 2015, second quarter 2015 and third quarter 2014, respectively.

(c) Reflected a net benefit of $8 million from certain third quarter 2014 actions, including a $32 million gain on the early redemption of debt, a $9 million contribution to the Comerica Charitable Foundation and other charges totaling $15 million.

(d) Basel III capital rules (standardized approach) became effective for Comerica on January 1, 2015. The ratio reflects transitional treatment for certain regulatory deductions and adjustments. For further information, see "Balance Sheet and Capital Management". Capital ratios for prior periods are based on Basel I rules.

(e) September 30, 2015 ratio is estimated.

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

n/a - not applicable.

"Our third quarter results demonstrate the benefits of our geographic and business line diversity. ” said Ralph W. Babb, Jr., chairman and chief executive officer. "Average loans grew $1.8 billion, or 4 percent, and deposits were up $4.0 billion, or 7 percent, compared to a year ago.

"Net interest income remained stable compared to the second quarter and noninterest income increased $3 million, or 1 percent, including growth in card fees, an area of increased focus for us. We continued to tightly manage expenses in the third quarter, even while faced with rising technology and regulatory costs.Overall

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 2

credit quality remained strong. As far as loans related to energy^(a), we saw negative migration; however, as expected, net charge-offs continued to be low and nonaccruals increased a modest $7 million.

"Our capital position is solid,” said Babb. "Stock repurchases under our equity repurchase program, combined with dividends, returned $96 million to shareholders in the third quarter. Our Trusted Advisor approach to relationship banking continues to make a positive difference as we remain focused on the long term."

Third Quarter 2015 Compared to Second Quarter 2015

• Average total loans increased $139 million to $49.0 billion, with increases in Technology and Life Sciences and Commercial Real Estate offset by decreases in Corporate Banking, general Middle Market and Energy. Period-end total loans decreased $799 million, to $48.9 billion, largely driven by seasonal decreases in Mortgage Banker Finance and general Middle Market.

• Average total deposits increased $1.7 billion, or 3 percent, to $59.1 billion, primarily driven by a $1.3 billion increase in noninterest-bearing deposits. Average total deposits increased in almost all lines of business. Period-end total deposits increased $508 million to $58.8 billion.

• Net interest income increased $1 million to $422 million compared to second quarter 2015. The benefits from one additional day in the quarter and increases in average earning assets were largely offset by an increase in interest expense on debt and lower loan yields.

• The allowance for loan losses increased $4 million compared to June 30, 2015, primarily due to increases in reserves related to Technology and Life Sciences and energy exposure, partially offset by lower loan balances and improved credit quality in the remainder of the portfolio. Net charge-offs were $23 million, or 0.19 percent of average loans, in the third quarter 2015, compared to $18 million, or 0.15 percent, in the second quarter 2015. As a result, the provision for credit losses was $26 million for the third quarter 2015.

• Noninterest income increased $3 million in the third quarter 2015, including a $3 million increase in card fees.

• Noninterest expenses increased $25 million in the third quarter 2015, primarily reflecting a $3 million net release of litigation reserves in the third quarter 2015, compared to a net release of $30 million in the second quarter 2015.

• Capital remained solid at September 30, 2015, as evidenced by an estimated common equity Tier 1 capital ratio of 10.58 percent and a tangible common equity ratio of 9.91 percent.

• Comerica repurchased approximately 1.2 million shares of common stock under the equity repurchase program, which, together with dividends, returned $96 million to shareholders.

Third Quarter 2015 Compared to Third Quarter 2014

• Average total loans increased $1.8 billion, or 4 percent, primarily reflecting increases in almost all lines of business, partially offset by a $400 million decrease in Corporate Banking.

• Average total deposits increased $4.0 billion, or 7 percent, primarily driven by increases of $3.3 billion in noninterest-bearing deposits and $1.2 billion in money market and NOW deposits, partially offset by a decrease of $592 million in customer certificates of deposit. Average deposits increased in almost all lines of business and across all markets.

• Net interest income increased $8 million, largely due to earning asset growth, partially offset by a $4 million increase in interest expense on debt.

• The provision for credit losses increased $21 million, primarily due to increases in reserves related to Technology and Life Sciences and energy exposure.

• Excluding the impact of a change to the accounting presentation for a card program, which increased both noninterest income and noninterest expenses by $48 million in the third quarter 2015, noninterest income increased $1 million.

• Noninterest expenses increased $8 million, excluding the above-described change in accounting presentation for a card program and the net benefit of $8 million in the third quarter 2014 from certain cost-saving actions, primarily due to an increase in technology-related contract labor expenses and higher outside processing expenses related to revenue generating activities.

^(a)Loans related to energy at September 30, 2015 included approximately $3.2 billion of outstanding loans in our Energy business line as well as approximately $615 million of loans in other lines of business to companies that have a sizable

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 3

portion of their revenue related to energy or could be otherwise disproportionately negatively impacted by prolonged low oil and gas prices.

Net Interest Income

(dollar amounts in millions)	3rd Qtr '15			2nd Qtr '15			3rd Qtr '14
Net interest income	$	422		$	421		$	414
Net interest margin	2.54		%	2.65		%	2.67		%
Selected average balances:
Total earning assets	$	66,191		$	63,981		$	61,672
Total loans	48,972			48,833			47,159
Total investment securities	10,232			9,936			9,388
Federal Reserve Bank deposits	6,710			4,968			4,877
Total deposits	59,140			57,398			55,163
Total noninterest-bearing deposits	28,623			27,365			25,275

• Net interest income increased $1 million to $422 million in the third quarter 2015, compared to the second quarter 2015.

◦ Interest on loans increased $2 million, reflecting the impact of one additional day in the third quarter (+$4 million) and the benefit from an increase in average loan balances (+$1 million), partially offset by a decrease in yields (-$3 million). The decrease in loan yields primarily reflected the impact of growth in high quality, lower yielding loans as well as a decrease in fee income due to the summer slowdown, partially offset by the benefit from an increase in LIBOR and the favorable impact from higher yields on loans related to energy due to negative credit migration.

◦ Interest on investment securities and Federal Reserve Bank deposits each increased $1 million, primarily reflecting increased average balances.

◦ Interest expense on debt increased $3 million, primarily reflecting the impact of debt issued in June and July 2015.

• The net interest margin of 2.54 percent decreased 11 basis points compared to the second quarter 2015, primarily due to the impact of the increase in Federal Reserve Bank deposit balances (-6 basis points), lower loan yields (-2 basis points) and the impact of increased debt (-2 basis points).

Noninterest Income

Noninterest income increased $3 million in the third quarter 2015, compared to $261 million for the second quarter 2015. The increase primarily reflected increases of $4 million in hedge ineffectiveness income, $3 million in card fees and $3 million in warrant-related income, partially offset by decreases of $5 million in deferred compensation asset returns and $4 million in investment banking income. The decrease in deferred compensation asset returns was offset by a decrease in deferred compensation plan expense in noninterest expenses.

Noninterest Expenses

Noninterest expenses increased $25 million in the third quarter 2015, compared to $436 million for the second quarter 2015, primarily reflecting a $3 million net release of litigation reserves in the third quarter 2015, compared to a net release of $30 million in the second quarter 2015, as well as increases of $2 million each in occupancy and software expense, partially offset by an $8 million decrease in salaries and benefits expense. The decrease in salaries and benefits expense primarily reflected a decrease in deferred compensation plan expense, lower share-based compensation expense as a result of forfeitures, and lower benefits expense, partially offset by an increase in technology-related contract labor expenses and the impact of one additional day in the quarter.

Credit Quality

“At 19 basis points, net charge-offs remain well below the historical normal level. Gross charge-offs declined slightly, while recoveries were down, primarily due to timing,” said Babb. “The provision for credit losses was $26 million and the allowance increased $4 million.  This reflects modestly higher reserves for both

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 4

Technology and Life Sciences and loans related to energy. This marks the fourth consecutive quarter that  we have prudently increased our reserves for energy, a result of increasing criticized loans and sustained low energy prices. While negative credit migration is anticipated, any losses are expected to be manageable. We continue to feel comfortable with our energy portfolio.”

(dollar amounts in millions)	3rd Qtr '15			2nd Qtr '15			3rd Qtr '14
Loan charge-offs	$	34		$	35		$	24
Loan recoveries	11			17			21
Net loan charge-offs	23			18			3
Net loan charge-offs/Average total loans	0.19		%	0.15		%	0.03		%
Provision for credit losses	$	26		$	47		$	5
Nonperforming loans (a)	369			361			346
Nonperforming assets (NPAs) (a)	381			370			357
NPAs/Total loans and foreclosed property	0.78		%	0.74		%	0.75		%
Loans past due 90 days or more and still accruing	$	5		$	18		$	13
Allowance for loan losses	622			618			592
Allowance for credit losses on lending-related commitments (b)	48			50			43
Total allowance for credit losses	670			668			635
Allowance for loan losses/Period-end total loans	1.27		%	1.24		%	1.24		%
Allowance for loan losses/Nonperforming loans	169			171			171

(a) Excludes loans acquired with credit impairment.

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

• Net charge-offs increased $5 million to $23 million, or 0.19 percent of average loans, in the third quarter 2015, compared to $18 million, or 0.15 percent, in the second quarter 2015.

• During the third quarter 2015, $69 million of borrower relationships over $2 million were transferred to nonaccrual status, of which $25 million were loans related to energy.

• Criticized loans increased $537 million to $2.9 billion at September 30, 2015, compared to $2.4 billion at June 30, 2015, reflecting an increase of approximately $480 million in criticized loans related to energy.

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 5

Balance Sheet and Capital Management

Total assets and common shareholders' equity were $71.0 billion and $7.6 billion, respectively, at September 30, 2015, compared to $69.9 billion and $7.5 billion, respectively, at June 30, 2015.

There were approximately 177 million common shares outstanding at September 30, 2015. Share repurchases of $59 million (1.2 million shares) under the equity repurchase program, combined with dividends of 21 cents per share, returned 71 percent of third quarter 2015 net income to shareholders. Diluted average shares decreased 2 million to 181 million for the third quarter 2015.

The estimated common equity Tier 1 capital ratio, reflective of transition provisions and excluding accumulated other comprehensive income ("AOCI"), was 10.58 percent at September 30, 2015. Certain deductions and adjustments to regulatory capital began phasing in on January 1, 2015 and will be fully implemented on January 1, 2018. The estimated ratio under fully phased-in Basel III capital rules is largely the same as the transitional ratio. Comerica's tangible common equity ratio was 9.91 percent at September 30, 2015, a decrease of 1 basis point from June 30, 2015.

Full-Year and Fourth Quarter 2015 Outlook

Management expectations for full-year 2015 compared to full-year 2014 have not changed from the previously provided outlook.

For fourth quarter 2015 compared to third quarter 2015, management expects the following, assuming a continuation of the current economic and low-rate environment:

• Average loans relatively stable, reflecting a seasonal decline in Mortgage Banker Finance, a continued decline in Energy and small increases in other lines of business.

• Net interest income relatively stable, with a contribution from earning asset growth approximately offset by continued pressure on yields from the low rate environment.

• Provision for credit losses remains low, with fourth quarter provision at a level similar to the third quarter. Continued negative migration of loans related to energy is possible, which may be offset by lower exposure balances.

• Noninterest income slightly higher, with growth in card fees, along with fiduciary income and investment banking fees should markets improve. The levels of warrant income, hedge ineffectiveness income and deferred compensation asset losses experienced in the third quarter 2015 are not expected to repeat, but are difficult to predict.

• Noninterest expenses moderately higher, reflecting seasonal increases in benefits expense, outside processing, marketing and occupancy expenses. The levels of litigation-related expense, share-based compensation and deferred compensation plan expense experienced in the third quarter 2015 are not expected to repeat, but are difficult to predict.

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 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 September 30, 2015 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses third quarter 2015 results compared to second quarter 2015.

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

(dollar amounts in millions)	3rd Qtr '15					2nd Qtr '15					3rd Qtr '14
Business Bank	$	194		85	%	$	182		81	%	$	211		92	%
Retail Bank	13			6		18			8		7			3
Wealth Management	21			9		26			11		12			5
	228			100	%	226			100	%	230			100	%
Finance	(93		)			(90		)			(73		)
Other (a)	1					(1		)			(3		)
Total	$	136				$	135				$	154

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

Business Bank

(dollar amounts in millions)	3rd Qtr '15		2nd Qtr '15		3rd Qtr '14
Net interest income (FTE)	$	380	$	375	$	376
Provision for credit losses	30		61		(4		)
Noninterest income	145		140		97
Noninterest expenses	202		176		152
Net income	194		182		211
Net loan charge-offs	23		22		(2		)
Selected average balances:
Assets	39,210		39,135		37,751
Loans	38,113		38,109		36,746
Deposits	31,397		30,229		28,815

• Average loans increased $4 million, primarily reflecting increases in Technology and Life Sciences, Commercial Real Estate and Entertainment, largely offset by decreases in Corporate Banking, general Middle Market and Energy.

• Average deposits increased $1.2 billion, primarily reflecting increases in general Middle Market, Technology and Life Sciences and Corporate Banking, partially offset by a decrease in Commercial Real Estate.

• Net interest income increased $5 million, primarily reflecting the impact of one additional day in the quarter and an increase in net funds transfer pricing (FTP) credits, largely due to the increase in average deposits, partially offset by lower loan yields.

• The allowance for loan losses increased $5 million compared to June 30, 2015, primarily due to increases in reserves related to Technology and Life Sciences and energy exposure, partially offset by lower loan balances and improvements in credit quality in the remainder of the portfolio. As a result, the provision for credit losses was $30 million for the third quarter 2015.

• Noninterest income increased $5 million, primarily due to increases in customer derivative income and warrant-related income, partially offset by a decrease in investment banking fees.

• Noninterest expenses increased $26 million, primarily reflecting the impact of a net release in litigation reserves in the second quarter 2015, partially offset by a decrease in salaries and benefits expense.

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 7

Retail Bank

(dollar amounts in millions)	3rd Qtr '15		2nd Qtr '15			3rd Qtr '14
Net interest income (FTE)	$	158	$	155		$	153
Provision for credit losses	2		(8		)	—
Noninterest income	49		46			42
Noninterest expenses	185		182			185
Net income	13		18			7
Net loan charge-offs	1		1			—
Selected average balances:
Assets	6,518		6,459			6,273
Loans	5,835		5,770			5,605
Deposits	23,079		22,747			22,042

• Average loans increased $65 million, reflecting increases in Small Business and consumer loans in Retail Banking.

• Average deposits increased $332 million, primarily reflecting an increase in noninterest-bearing deposits.

• Net interest income increased $3 million, primarily due to an increase in net FTP credits, largely due to the increase in average deposits and the impact of one additional day in the quarter.

• The provision for credit losses was $2 million, compared to a negative provision of $8 million in the second quarter 2015.

• Noninterest income increased $3 million, primarily reflecting an increase in card fees.

• Noninterest expenses increased $3 million, primarily reflecting increases in occupancy and outside processing expenses.

Wealth Management

(dollar amounts in millions)	3rd Qtr '15			2nd Qtr '15			3rd Qtr '14
Net interest income (FTE)	$	45		$	45		$	45
Provision for credit losses	(3		)	(9		)	7
Noninterest income	59			60			59
Noninterest expenses	74			74			78
Net income	21			26			12
Net loan charge-offs (recoveries)	(1		)	(5		)	5
Selected average balances:
Assets	5,228			5,153			4,998
Loans	5,024			4,954			4,808
Deposits	4,188			4,060			3,924

• Average loans increased $70 million.

• Average deposits increased $128 million, primarily reflecting increases in money market and checking deposits.

• Net interest income remained stable quarter over quarter. The benefits from loan and deposit growth and the impact of one additional day in the quarter were offset by lower yields and a decrease in the FTP crediting rate.

• The provision for credit losses increased $6 million, from a negative provision of $9 million in the second quarter 2015 to a negative provision of $3 million in the third quarter 2015, primarily reflecting lower net recoveries in the third quarter 2015.

• Noninterest income decreased $1 million, primarily due to lower fiduciary income.

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 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 September 30, 2015 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 '15					2nd Qtr '15					3rd Qtr '14
Michigan	$	71		31	%	$	98		44	%	$	66		29	%
California	62			27		71			31		63			27
Texas	36			16		14			6		42			18
Other Markets	59			26		43			19		59			26
	228			100	%	226			100	%	230			100	%
Finance & Other (a)	(92		)			(91		)			(76		)
Total	$	136				$	135				$	154

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

• Average loans increased $360 million in California and decreased $257 million in Texas and $67 million in Michigan (primarily general Middle Market). The increase in California was led by Technology and Life Sciences, Entertainment and Private Banking, partially offset by a decrease in general Middle Market. In Texas, average loans decreased in almost all lines of business.

• Average deposits increased $1.1 billion and $240 million in California and Michigan, respectively, and decreased $206 million in Texas. The increases in California and Michigan reflected increases in almost all lines of business, partially offset by decreases in Commercial Real Estate (in both markets) and Corporate Banking (in Michigan). The decrease in Texas primarily reflected decreases in general Middle Market, Technology and Life Sciences, and Energy, partially offset by an increase in Small Business.

• Net interest income increased $6 million and $1 million in California and Michigan, respectively, and decreased $1 million in Texas. The increase in California primarily reflected the benefit from an increase in net FTP credits, largely due to the increase in average deposits, and the impact of one additional day in the quarter.

• The provision for credit losses decreased $33 million in Texas and increased $20 million and $19 million in California and Michigan, respectively. The decrease in Texas primarily reflected a smaller reserve build for Energy in the third quarter 2015, compared to the second quarter 2015. In California, the provision increased primarily as a result of increased reserves for Technology and Life Sciences, while the increase in Michigan was primarily the result of increased provisions in general Middle Market, Retail Banking and Corporate Banking.

• Noninterest income increased $3 million and $1 million in Texas and California, respectively, and was unchanged in Michigan. The increase in Texas was primarily due to increases in customer derivative income, foreign exchange income and small increases in several categories, partially offset by a decrease in investment banking income.

• Noninterest expenses increased $24 million in Michigan, primarily reflecting the impact of a net release in litigation reserves in the second quarter 2015, partially offset by small decreases in several categories, and increased $3 million and $2 million in Texas and California, respectively.

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 9

Michigan Market

(dollar amounts in millions)	3rd Qtr '15		2nd Qtr '15			3rd Qtr '14
Net interest income (FTE)	$	180	$	179		$	179
Provision for credit losses	6		(13		)	(8		)
Noninterest income	85		85			83
Noninterest expenses	152		128			166
Net income	71		98			66
Net loan charge-offs (recoveries)	9		(2		)	3
Selected average balances:
Assets	13,856		13,852			13,724
Loans	13,223		13,290			13,248
Deposits	21,946		21,706			21,214

California Market

(dollar amounts in millions)	3rd Qtr '15		2nd Qtr '15		3rd Qtr '14
Net interest income (FTE)	$	187	$	181	$	182
Provision for credit losses	24		4		14
Noninterest income	38		37		37
Noninterest expenses	102		100		102
Net income	62		71		63
Net loan charge-offs	10		6		6
Selected average balances:
Assets	17,060		16,696		15,768
Loans	16,789		16,429		15,509
Deposits	18,372		17,275		16,350

Texas Market

(dollar amounts in millions)	3rd Qtr '15		2nd Qtr '15		3rd Qtr '14
Net interest income (FTE)	$	129	$	130	$	130
Provision for credit losses	10		43		3
Noninterest income	34		31		36
Noninterest expenses	97		94		96
Net income	36		14		42
Net loan charge-offs	4		5		—
Selected average balances:
Assets	11,578		11,878		11,835
Loans	10,997		11,254		11,147
Deposits	10,753		10,959		10,633

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COMERICA REPORTS THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 10

Conference Call and Webcast

Comerica will host a conference call to review third quarter 2015 financial results at 7 a.m. CT Friday, October 16, 2015. Interested parties may access the conference call by calling (877) 523-5249 or (210) 591-1147 (event ID No. 28321461). 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 THIRD QUARTER 2015 NET INCOME OF $136 MILLION - 11

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; changes in regulation or oversight; Comerica's ability to maintain adequate sources of funding and liquidity; the effects of more stringent capital or liquidity requirements; declines or other changes in the businesses or industries of Comerica's customers, including the energy industry; operational difficulties, failure of technology infrastructure or information security incidents; reliance on other companies to provide certain key components of business infrastructure; factors impacting noninterest expenses which are beyond Comerica's control; changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing; changes in Comerica's credit rating; unfavorable developments concerning credit quality; the interdependence of financial service companies; 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; 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, droughts and floods; changes in accounting standards and the critical nature of Comerica's accounting policies. Comerica cautions that the foregoing list of factors is not exclusive. For discussion of factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. In particular, please refer to “Item 1A. Risk Factors” beginning on page 12 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2014. 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
	Chelsea R. Smith
	(214) 462-6834

CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)
Comerica Incorporated and Subsidiaries
	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,
(in millions, except per share data)	2015			2015			2014			2015			2014
PER COMMON SHARE AND COMMON STOCK DATA
Diluted net income	$	0.74		$	0.73		$	0.82		$	2.20		$	2.35
Cash dividends declared	0.21			0.21			0.20			0.62			0.59
Average diluted shares (in thousands)	180,714			182,422			185,401			181,807			186,064
KEY RATIOS
Return on average common shareholders' equity	7.19		%	7.21		%	8.29		%	7.20		%	8.08		%
Return on average assets	0.76			0.79			0.93			0.78			0.91
Common equity tier 1 risk-based capital ratio (a) (b)	10.58			10.40			n/a
Tier 1 common risk-based capital ratio (c)	n/a			n/a			10.59
Tier 1 risk-based capital ratio (a) (b)	10.58			10.40			10.59
Total risk-based capital ratio (a) (b)	12.91			12.38			12.83
Leverage ratio (a) (b)	10.29			10.56			10.79
Tangible common equity ratio (c)	9.91			9.92			9.94
AVERAGE BALANCES
Commercial loans	$	31,900		$	31,788		$	30,188		$	31,596		$	29,487
Real estate construction loans	1,833			1,807			1,973			1,859			1,905
Commercial mortgage loans	8,691			8,672			8,698			8,648			8,739
Lease financing	788			795			823			793			840
International loans	1,401			1,453			1,417			1,455			1,349
Residential mortgage loans	1,882			1,877			1,792			1,872			1,763
Consumer loans	2,477			2,441			2,268			2,432			2,244
Total loans	48,972			48,833			47,159			48,655			46,327
Earning assets	66,191			63,981			61,672			64,561			60,585
Total assets	71,333			68,963			66,398			69,688			65,335
Noninterest-bearing deposits	28,623			27,365			25,275			27,569			24,182
Interest-bearing deposits	30,517			30,033			29,888			30,282			29,599
Total deposits	59,140			57,398			55,163			57,851			53,781
Common shareholders' equity	7,559			7,512			7,411			7,508			7,324
NET INTEREST INCOME (fully taxable equivalent basis)
Net interest income	$	423		$	422		$	415		$	1,259		$	1,243
Net interest margin	2.54		%	2.65		%	2.67		%	2.61		%	2.74		%
CREDIT QUALITY
Total nonperforming assets	$	381		$	370		$	357
Loans past due 90 days or more and still accruing	5			18			13
Net loan charge-offs	23			18			3			$	49		$	24
Allowance for loan losses	622			618			592
Allowance for credit losses on lending-related commitments	48			50			43
Total allowance for credit losses	670			668			635
Allowance for loan losses as a percentage of total loans	1.27		%	1.24		%	1.24		%
Net loan charge-offs as a percentage of average total loans	0.19			0.15			0.03			0.14		%	0.07		%
Nonperforming assets as a percentage of total loans and foreclosed property	0.78			0.74			0.75
Allowance for loan losses as a percentage of total nonperforming loans	169			171			171

(a) Basel III rules became effective on January 1, 2015, with transitional provisions. All prior period data is based on Basel I rules.

(b) September 30, 2015 ratios are estimated.

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

n/a - not applicable.

12

CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries
	September 30,			June 30,			December 31,			September 30,
(in millions, except share data)	2015			2015			2014			2014
	(unaudited)			(unaudited)						(unaudited)
ASSETS
Cash and due from banks	$	1,101		$	1,148		$	1,026		$	1,039
Interest-bearing deposits with banks	6,099			4,817			5,045			6,748
Other short-term investments	107			119			99			112
Investment securities available-for-sale	8,749			8,267			8,116			9,468
Investment securities held-to-maturity	1,863			1,952			1,935			—
Commercial loans	31,777			32,723			31,520			30,759
Real estate construction loans	1,874			1,795			1,955			1,992
Commercial mortgage loans	8,787			8,674			8,604			8,603
Lease financing	751			786			805			805
International loans	1,382			1,420			1,496			1,429
Residential mortgage loans	1,880			1,865			1,831			1,797
Consumer loans	2,491			2,478			2,382			2,323
Total loans	48,942			49,741			48,593			47,708
Less allowance for loan losses	(622		)	(618		)	(594		)	(592		)
Net loans	48,320			49,123			47,999			47,116
Premises and equipment	541			541			532			524
Accrued income and other assets	4,232			3,978			4,434			3,876
Total assets	$	71,012		$	69,945		$	69,186		$	68,883
LIABILITIES AND SHAREHOLDERS' EQUITY
Noninterest-bearing deposits	$	28,697		$	28,167		$	27,224		$	27,490
Money market and interest-bearing checking deposits	23,948			23,786			23,954			23,523
Savings deposits	1,853			1,841			1,752			1,753
Customer certificates of deposit	4,126			4,367			4,421			4,698
Foreign office time deposits	144			99			135			117
Total interest-bearing deposits	30,071			30,093			30,262			30,091
Total deposits	58,768			58,260			57,486			57,581
Short-term borrowings	109			56			116			202
Accrued expenses and other liabilities	1,413			1,265			1,507			1,002
Medium- and long-term debt	3,100			2,841			2,675			2,665
Total liabilities	63,390			62,422			61,784			61,450
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 228,164,824 shares	1,141			1,141			1,141			1,141
Capital surplus	2,165			2,158			2,188			2,183
Accumulated other comprehensive loss	(345		)	(396		)	(412		)	(317		)
Retained earnings	7,007			6,908			6,744			6,631
Less cost of common stock in treasury - 51,010,418 shares at 9/30/15, 49,803,515 shares at 6/30/15, 49,146,225 shares at 12/31/14, and 47,992,721 shares at 9/30/14	(2,346		)	(2,288		)	(2,259		)	(2,205		)
Total shareholders' equity	7,622			7,523			7,402			7,433
Total liabilities and shareholders' equity	$	71,012		$	69,945		$	69,186		$	68,883

13

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
Comerica Incorporated and Subsidiaries
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions, except per share data)	2015			2014			2015			2014
INTEREST INCOME
Interest and fees on loans	$	390		$	381		$	1,156		$	1,142
Interest on investment securities	54			52			160			160
Interest on short-term investments	4			3			11			10
Total interest income	448			436			1,327			1,312
INTEREST EXPENSE
Interest on deposits	11			11			33			33
Interest on medium- and long-term debt	15			11			38			39
Total interest expense	26			22			71			72
Net interest income	422			414			1,256			1,240
Provision for credit losses	26			5			87			25
Net interest income after provision for credit losses	396			409			1,169			1,215
NONINTEREST INCOME
Service charges on deposit accounts	56			54			167			162
Fiduciary income	47			44			142			133
Commercial lending fees	22			26			69			69
Card fees	75			23			214			68
Letter of credit fees	13			14			39			43
Bank-owned life insurance	10			11			29			31
Foreign exchange income	10			9			29			30
Brokerage fees	5			4			13			13
Net securities losses	—			(1		)	(2		)	—
Other noninterest income	26			31			80			94
Total noninterest income	264			215			780			643
NONINTEREST EXPENSES
Salaries and benefits expense	243			248			747			735
Net occupancy expense	41			46			118			125
Equipment expense	14			14			40			43
Outside processing fee expense	86			31			249			89
Software expense	26			25			73			72
Litigation-related expense	(3		)	(2		)	(32		)	4
FDIC insurance expense	9			9			27			25
Advertising expense	6			5			17			16
Gain on debt redemption	—			(32		)	—			(32		)
Other noninterest expenses	39			53			117			130
Total noninterest expenses	461			397			1,356			1,207
Income before income taxes	199			227			593			651
Provision for income taxes	63			73			188			207
NET INCOME	136			154			405			444
Less income allocated to participating securities	2			2			5			6
Net income attributable to common shares	$	134		$	152		$	400		$	438
Earnings per common share:
Basic	$	0.76		$	0.85		$	2.27		$	2.44
Diluted	0.74			0.82			2.20			2.35
Comprehensive income	187			141			472			518
Cash dividends declared on common stock	37			36			110			107
Cash dividends declared per common share	0.21			0.20			0.62			0.59

14

CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME (unaudited)
Comerica Incorporated and Subsidiaries
	Third			Second			First			Fourth		Third			Third Quarter 2015 Compared To:
	Quarter			Quarter			Quarter			Quarter		Quarter			Second Quarter 2015					Third Quarter 2014
(in millions, except per share data)	2015			2015			2015			2014		2014			Amount			Percent		Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	390		$	388		$	378		$	383	$	381		$	2		—	%	$	9		2	%
Interest on investment securities	54			53			53			51		52			1			2		2			3
Interest on short-term investments	4			3			4			4		3			1			39		1			38
Total interest income	448			444			435			438		436			4			1		12			3
INTEREST EXPENSE
Interest on deposits	11			11			11			12		11			—			—		—			—
Interest on medium- and long-term debt	15			12			11			11		11			3			22		4			27
Total interest expense	26			23			22			23		22			3			12		4			12
Net interest income	422			421			413			415		414			$	1		—		$	8		2
Provision for credit losses	26			47			14			2		5			(21		)	(44	)	21			n/m
Net interest income after provision for credit losses	396			374			399			413		409			22			6		(13		)	(3	)
NONINTEREST INCOME
Service charges on deposit accounts	56			56			55			53		54			—			—		2			4
Fiduciary income	47			48			47			47		44			(1		)	(3	)	3			5
Commercial lending fees	22			22			25			29		26			—			—		(4		)	(13	)
Card fees	75			72			67			24		23			3			4		52			n/m
Letter of credit fees	13			13			13			14		14			—			—		(1		)	(8	)
Bank-owned life insurance	10			10			9			8		11			—			—		(1		)	—
Foreign exchange income	10			9			10			10		9			1			10		1			8
Brokerage fees	5			4			4			4		4			1			6		1			20
Net securities losses	—			—			(2		)	—		(1		)	—			—		1			n/m
Other noninterest income	26			27			27			36		31			(1		)	—		(5		)	(17	)
Total noninterest income	264			261			255			225		215			3			1		49			23
NONINTEREST EXPENSES
Salaries and benefits expense	243			251			253			245		248			(8		)	(3	)	(5		)	(2	)
Net occupancy expense	41			39			38			46		46			2			5		(5		)	(11	)
Equipment expense	14			13			13			14		14			1			4		—			—
Outside processing fee expense	86			86			77			33		31			—			—		55			n/m
Software expense	26			24			23			23		25			2			8		1			4
Litigation-related expense	(3		)	(30		)	1			—		(2		)	27			88		(1		)	n/m
FDIC insurance expense	9			9			9			8		9			—			—		—			—
Advertising expense	6			5			6			7		5			1			10		1			8
Gain on debt redemption	—			—			—			—		(32		)	—			—		32			n/m
Other noninterest expenses	39			39			39			43		53			—			—		(14		)	(25	)
Total noninterest expenses	461			436			459			419		397			25			6		64			16
Income before income taxes	199			199			195			219		227			—			—		(28		)	(12	)
Provision for income taxes	63			64			61			70		73			(1		)	(2	)	(10		)	(14	)
NET INCOME	136			135			134			149		154			1			—		(18		)	(12	)
Less income allocated to participating securities	2			1			2			1		2			1			—		—			—
Net income attributable to common shares	$	134		$	134		$	132		$	148	$	152		$	—		—	%	$	(18	)	(11	)%
Earnings per common share:
Basic	$	0.76		$	0.76		$	0.75		$	0.83	$	0.85		$	—		—	%	$	(0.09	)	(11	)%
Diluted	0.74			0.73			0.73			0.80		0.82			0.01			1		(0.08		)	(10	)
Comprehensive income	187			109			176			54		141			78			72		46			33
Cash dividends declared on common stock	37			37			36			36		36			—			—		1			3
Cash dividends declared per common share	0.21			0.21			0.20			0.20		0.20			—			—		0.01			5

n/m - not meaningful

15

ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)
Comerica Incorporated and Subsidiaries
	2015									2014
(in millions)	3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr
Balance at beginning of period	$	618		$	601		$	594		$	592		$	591
Loan charge-offs:
Commercial	30			17			19			8			13
Commercial mortgage	—			2			—			2			7
Lease financing	—			1			—			—			—
International	1			11			2			6			—
Residential mortgage	—			1			—			1			1
Consumer	3			3			2			3			3
Total loan charge-offs	34			35			23			20			24
Recoveries on loans previously charged-off:
Commercial	8			10			9			6			6
Real estate construction	—			1			—			2			1
Commercial mortgage	2			5			3			10			12
Residential mortgage	—			—			1			—			1
Consumer	1			1			2			1			1
Total recoveries	11			17			15			19			21
Net loan charge-offs	23			18			8			1			3
Provision for loan losses	28			35			16			4			4
Foreign currency translation adjustment	(1		)	—			(1		)	(1		)	—
Balance at end of period	$	622		$	618		$	601		$	594		$	592
Allowance for loan losses as a percentage of total loans	1.27		%	1.24		%	1.22		%	1.22		%	1.24		%
Net loan charge-offs as a percentage of average total loans	0.19			0.15			0.07			0.01			0.03

ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS (unaudited)
Comerica Incorporated and Subsidiaries
	2015								2014
(in millions)	3rd Qtr			2nd Qtr		1st Qtr			4th Qtr			3rd Qtr
Balance at beginning of period	$	50		$	39	$	41		$	43		$	42
Less: Charge-offs on lending-related commitments (a)	—			1		—			—			—
Add: Provision for credit losses on lending-related commitments	(2		)	12		(2		)	(2		)	1
Balance at end of period	$	48		$	50	$	39		$	41		$	43
Unfunded lending-related commitments sold	$	—		$	12	$	1		$	—		$	9

(a) Charge-offs result from the sale of unfunded lending-related commitments.

16

NONPERFORMING ASSETS (unaudited)
Comerica Incorporated and Subsidiaries
	2015									2014
(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	$	214		$	186		$	113		$	109		$	93
Real estate construction	1			1			1			2			18
Commercial mortgage	66			77			82			95			144
Lease financing	8			11			—			—			—
International	8			9			1			—			—
Total nonaccrual business loans	297			284			197			206			255
Retail loans:
Residential mortgage	31			35			37			36			42
Consumer:
Home equity	28			29			31			30			31
Other consumer	1			1			1			1			1
Total consumer	29			30			32			31			32
Total nonaccrual retail loans	60			65			69			67			74
Total nonaccrual loans	357			349			266			273			329
Reduced-rate loans	12			12			13			17			17
Total nonperforming loans (a)	369			361			279			290			346
Foreclosed property	12			9			9			10			11
Total nonperforming assets (a)	$	381		$	370		$	288		$	300		$	357
Nonperforming loans as a percentage of total loans	0.75		%	0.72		%	0.57		%	0.60		%	0.73		%
Nonperforming assets as a percentage of total loans  and foreclosed property	0.78			0.74			0.59			0.62			0.75
Allowance for loan losses as a percentage of total nonperforming loans	169			171			216			205			171
Loans past due 90 days or more and still accruing	$	5		$	18		$	12		$	5		$	13
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	349		$	266		$	273		$	329		$	326
Loans transferred to nonaccrual (b)	69			145			39			41			54
Nonaccrual business loan gross charge-offs (c)	(31		)	(31		)	(21		)	(16		)	(20		)
Loans transferred to accrual status (b)	—			—			(4		)	(18		)	—
Nonaccrual business loans sold (d)	—			(1		)	(2		)	(24		)	(3		)
Payments/Other (e)	(30		)	(30		)	(19		)	(39		)	(28		)
Nonaccrual loans at end of period	$	357		$	349		$	266		$	273		$	329
(a) Excludes loans acquired with credit impairment.
(b) Based on an analysis of nonaccrual loans with book balances greater than $2 million.
(c) Analysis of gross loan charge-offs:
Nonaccrual business loans	$	31		$	31		$	21		$	16		$	20
Consumer and residential mortgage loans	3			4			2			4			4
Total gross loan charge-offs	$	34		$	35		$	23		$	20		$	24
(d) Analysis of loans sold:
Nonaccrual business loans	$	—		$	1		$	2		$	24		$	3
Performing criticized loans	—			—			7			5			—
Total criticized loans sold	$	—		$	1		$	9		$	29		$	3
(e) Includes net changes related to nonaccrual loans with balances less than $2 million, payments on nonaccrual loans with book balances greater than $2 million and transfers of nonaccrual loans to foreclosed property. Excludes business loan gross charge-offs and business nonaccrual loans sold.

17

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
Comerica Incorporated and Subsidiaries
	Nine Months Ended
	September 30, 2015							September 30, 2014
	Average					Average		Average					Average
(dollar amounts in millions)	Balance			Interest		Rate		Balance			Interest		Rate
Commercial loans	$	31,596		$	721	3.05	%	$	29,487		$	689	3.12	%
Real estate construction loans	1,859			48		3.44		1,905			49		3.42
Commercial mortgage loans	8,648			220		3.40		8,739			246		3.77
Lease financing	793			19		3.13		840			20		3.23
International loans	1,455			39		3.63		1,349			37		3.64
Residential mortgage loans	1,872			53		3.78		1,763			50		3.81
Consumer loans	2,432			59		3.23		2,244			54		3.21
Total loans (a)	48,655			1,159		3.19		46,327			1,145		3.30
Mortgage-backed securities (b)	9,076			151		2.23		8,976			159		2.36
Other investment securities	950			9		1.18		369			1		0.44
Total investment securities (b)	10,026			160		2.13		9,345			160		2.28
Interest-bearing deposits with banks	5,774			11		0.25		4,803			10		0.25
Other short-term investments	106			—		0.78		110			—		0.60
Total earning assets	64,561			1,330		2.76		60,585			1,315		2.90
Cash and due from banks	1,054							932
Allowance for loan losses	(614		)					(602		)
Accrued income and other assets	4,687							4,420
Total assets	$	69,688						$	65,335
Money market and interest-bearing checking deposits	$	23,973		20		0.11		$	22,571		18		0.11
Savings deposits	1,827			—		0.02		1,734			—		0.03
Customer certificates of deposit	4,359			12		0.37		4,990			13		0.36
Foreign office time deposits	123			1		1.13		304			2		0.68
Total interest-bearing deposits	30,282			33		0.14		29,599			33		0.15
Short-term borrowings	93			—		0.05		209			—		0.03
Medium- and long-term debt	2,843			38		1.80		3,061			39		1.67
Total interest-bearing sources	33,218			71		0.28		32,869			72		0.29
Noninterest-bearing deposits	27,569							24,182
Accrued expenses and other liabilities	1,393							960
Total shareholders' equity	7,508							7,324
Total liabilities and shareholders' equity	$	69,688						$	65,335
Net interest income/rate spread (FTE)				$	1,259	2.48					$	1,243	2.61
FTE adjustment				$	3						$	3
Impact of net noninterest-bearing sources of funds						0.13							0.13
Net interest margin (as a percentage of average earning assets) (FTE) (a)						2.61	%						2.74	%

(a) Accretion of the purchase discount on the acquired loan portfolio of $6 million and $25 million in the nine months ended September 30, 2015 and 2014, respectively, increased the net interest margin by 1 basis point and 6 basis points in each respective period.

(b) Includes investment securities available-for-sale and investment securities held-to-maturity.

18

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)
Comerica Incorporated and Subsidiaries
	Three Months Ended
	September 30, 2015							June 30, 2015							September 30, 2014
	Average					Average		Average					Average		Average					Average
(dollar amounts in millions)	Balance			Interest		Rate		Balance			Interest		Rate		Balance			Interest		Rate
Commercial loans	$	31,900		$	244	3.04	%	$	31,788		$	243	3.07	%	$	30,188		$	236	3.11	%
Real estate construction loans	1,833			16		3.47		1,807			16		3.51		1,973			17		3.41
Commercial mortgage loans	8,691			74		3.39		8,672			73		3.38		8,698			76		3.45
Lease financing	788			6		3.16		795			6		3.19		823			4		2.33
International loans	1,401			13		3.51		1,453			13		3.68		1,417			13		3.59
Residential mortgage loans	1,882			18		3.79		1,877			18		3.78		1,792			17		3.76
Consumer loans	2,477			20		3.21		2,441			20		3.25		2,268			19		3.24
Total loans (a)	48,972			391		3.17		48,833			389		3.20		47,159			382		3.22
Mortgage-backed securities (b)	9,099			50		2.21		9,057			50		2.23		9,020			52		2.29
Other investment securities	1,133			4		1.26		879			3		1.16		368			—		0.43
Total investment securities (b)	10,232			54		2.11		9,936			53		2.13		9,388			52		2.22
Interest-bearing deposits with banks	6,869			4		0.25		5,110			3		0.25		5,015			3		0.25
Other short-term investments	118			—		0.82		102			—		0.42		110			—		0.54
Total earning assets	66,191			449		2.70		63,981			445		2.79		61,672			437		2.82
Cash and due from banks	1,095							1,041							963
Allowance for loan losses	(628		)					(613		)					(601		)
Accrued income and other assets	4,675							4,554							4,364
Total assets	$	71,333						$	68,963						$	66,398
Money market and interest-bearing checking deposits	$	24,298		7		0.11		$	23,659		6		0.11		$	23,146		6		0.11
Savings deposits	1,860			—		0.02		1,834			—		0.02		1,759			—		0.03
Customer certificates of deposit	4,232			4		0.37		4,422			4		0.37		4,824			4		0.36
Foreign office time deposits	127			—		0.70		118			1		1.26		159			1		1.43
Total interest-bearing deposits	30,517			11		0.14		30,033			11		0.14		29,888			11		0.15
Short-term borrowings	91			—		0.04		78			—		0.04		231			—		0.03
Medium- and long-term debt	3,175			15		1.85		2,661			12		1.83		2,649			11		1.75
Total interest-bearing sources	33,783			26		0.30		32,772			23		0.28		32,768			22		0.28
Noninterest-bearing deposits	28,623							27,365							25,275
Accrued expenses and other liabilities	1,368							1,314							944
Total shareholders' equity	7,559							7,512							7,411
Total liabilities and shareholders' equity	$	71,333						$	68,963						$	66,398
Net interest income/rate spread (FTE)				$	423	2.40					$	422	2.51					$	415	2.54
FTE adjustment				$	1						$	1						$	1
Impact of net noninterest-bearing sources of funds						0.14							0.14							0.13
Net interest margin (as a percentage of average earning assets) (FTE) (a)						2.54	%						2.65	%						2.67	%

(a) Accretion of the purchase discount on the acquired loan portfolio of $2 million, $2 million and $3 million in the third quarter 2015, the second quarter 2015 and the third quarter 2014, respectively, increased the net interest margin by 1 basis point, 1 basis point and 2 basis points in each respective period.

(b) Includes investment securities available-for-sale and investment securities held-to-maturity.

19

CONSOLIDATED STATISTICAL DATA (unaudited)
Comerica Incorporated and Subsidiaries
	September 30,			June 30,			March 31,			December 31,			September 30,
(in millions, except per share data)	2015			2015			2015			2014			2014
Commercial loans:
Floor plan	$	3,538		$	3,840		$	3,544		$	3,790		$	3,183
Other	28,239			28,883			28,547			27,730			27,576
Total commercial loans	31,777			32,723			32,091			31,520			30,759
Real estate construction loans	1,874			1,795			1,917			1,955			1,992
Commercial mortgage loans	8,787			8,674			8,558			8,604			8,603
Lease financing	751			786			792			805			805
International loans	1,382			1,420			1,433			1,496			1,429
Residential mortgage loans	1,880			1,865			1,859			1,831			1,797
Consumer loans:
Home equity	1,714			1,682			1,678			1,658			1,634
Other consumer	777			796			744			724			689
Total consumer loans	2,491			2,478			2,422			2,382			2,323
Total loans	$	48,942		$	49,741		$	49,072		$	48,593		$	47,708
Goodwill	$	635		$	635		$	635		$	635		$	635
Core deposit intangible	10			11			12			13			14
Other intangibles	4			4			3			2			1
Common equity tier 1 capital (a) (b)	7,327			7,280			7,230			n/a			n/a
Tier 1 common capital (c)	n/a			n/a			n/a			7,169			7,105
Risk-weighted assets (a) (b)	69,232			69,967			69,514			68,273			67,106
Common equity tier 1 risk-based capital ratio (a) (b)	10.58		%	10.40		%	10.40		%	n/a			n/a
Tier 1 common risk-based capital ratio (c)	n/a			n/a			n/a			10.50		%	10.59		%
Tier 1 risk-based capital ratio (a) (b)	10.58			10.40			10.40			10.50			10.59
Total risk-based capital ratio (a) (b)	12.91			12.38			12.35			12.51			12.83
Leverage ratio (a) (b)	10.29			10.56			10.53			10.35			10.79
Tangible common equity ratio (c)	9.91			9.92			9.97			9.85			9.94
Common shareholders' equity per share of common stock	$	43.02		$	42.18		$	42.12		$	41.35		$	41.26
Tangible common equity per share of common stock (c)	39.36			38.53			38.47			37.72			37.65
Market value per share for the quarter:
High	52.93			53.45			47.94			50.14			52.72
Low	40.01			44.38			40.09			42.73			48.33
Close	41.10			51.32			45.13			46.84			49.86
Quarterly ratios:
Return on average common shareholders' equity	7.19		%	7.21		%	7.20		%	7.96		%	8.29		%
Return on average assets	0.76			0.79			0.78			0.86			0.93
Efficiency ratio (d)	67.08			63.68			68.50			65.26			62.87
Number of banking centers	477			477			482			481			481
Number of employees - full time equivalent	8,941			8,901			8,831			8,876			8,913

(a) Basel III rules became effective January 1, 2015, with transitional provisions. All prior period data is based on Basel I rules.

(b) September 30, 2015 amounts and ratios are estimated.

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

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

n/a - not applicable.

20

PARENT COMPANY ONLY BALANCE SHEETS (unaudited)
Comerica Incorporated
	September 30,			December 31,			September 30,
(in millions, except share data)	2015			2014			2014
ASSETS
Cash and due from subsidiary bank	$	5		$	—		$	5
Short-term investments with subsidiary bank	563			1,133			1,136
Other short-term investments	89			94			97
Investment in subsidiaries, principally banks	7,596			7,411			7,433
Premises and equipment	2			2			2
Other assets	138			138			130
Total assets	$	8,393		$	8,778		$	8,803
LIABILITIES AND SHAREHOLDERS' EQUITY
Medium- and long-term debt	$	618		$	1,208		$	1,198
Other liabilities	153			168			172
Total liabilities	771			1,376			1,370
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 228,164,824 shares	1,141			1,141			1,141
Capital surplus	2,165			2,188			2,183
Accumulated other comprehensive loss	(345		)	(412		)	(317		)
Retained earnings	7,007			6,744			6,631
Less cost of common stock in treasury - 51,010,418 shares at 9/30/15, 49,146,225 shares at 12/31/14 and 47,992,721 shares at 9/30/14	(2,346		)	(2,259		)	(2,205		)
Total shareholders' equity	7,622			7,402			7,433
Total liabilities and shareholders' equity	$	8,393		$	8,778		$	8,803

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, 2013	182.3		$	1,141	$	2,179		$	(391	)	$	6,318		$	(2,097	)	$	7,150
Net income	—		—		—			—			444			—			444
Other comprehensive income, net of tax	—		—		—			74			—			—			74
Cash dividends declared on common stock ($0.59 per share)	—		—		—			—			(107		)	—			(107		)
Purchase of common stock	(4.1	)	—		—			—			—			(200		)	(200		)
Net issuance of common stock under employee stock plans	2.0		—		(26		)	—			(24		)	91			41
Share-based compensation	—		—		31			—			—			—			31
Other	—		—		(1		)	—			—			1			—
BALANCE AT SEPTEMBER 30, 2014	180.2		$	1,141	$	2,183		$	(317	)	$	6,631		$	(2,205	)	$	7,433
BALANCE AT DECEMBER 31, 2014	179.0		$	1,141	$	2,188		$	(412	)	$	6,744		$	(2,259	)	$	7,402
Net income	—		—		—			—			405			—			405
Other comprehensive income, net of tax	—		—		—			67			—			—			67
Cash dividends declared on common stock ($0.62 per share)	—		—		—			—			(110		)	—			(110		)
Purchase of common stock	(3.8	)	—		—			—			—			(175		)	(175		)
Purchase and retirement of warrants	—		—		(10		)	—			—			—			(10		)
Net issuance of common stock under employee stock plans	1.0		—		(21		)	—			(10		)	45			14
Net issuance of common stock for warrants	1.0		—		(21		)	—			(22		)	43			—
Share-based compensation	—		—		29			—			—			—			29
BALANCE AT SEPTEMBER 30, 2015	177.2		$	1,141	$	2,165		$	(345	)	$	7,007		$	(2,346	)	$	7,622

21

BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)
Comerica Incorporated and Subsidiaries
(dollar amounts in millions)	Business			Retail			Wealth
Three Months Ended September 30, 2015	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	380		$	158		$	45		$	(162	)	$	2		$	423
Provision for credit losses	30			2			(3		)	—			(3		)	26
Noninterest income	145			49			59			15			(4		)	264
Noninterest expenses	202			185			74			2			(2		)	461
Provision (benefit) for income taxes (FTE)	99			7			12			(56		)	2			64
Net income (loss)	$	194		$	13		$	21		$	(93	)	$	1		$	136
Net loan charge-offs (recoveries)	$	23		$	1		$	(1	)	$	—		$	—		$	23
Selected average balances:
Assets	$	39,210		$	6,518		$	5,228		$	12,177		$	8,200		$	71,333
Loans	38,113			5,835			5,024			—			—			48,972
Deposits	31,397			23,079			4,188			212			264			59,140
Statistical data:
Return on average assets (a)	1.98		%	0.23		%	1.62		%	N/M			N/M			0.76		%
Efficiency ratio (b)	38.41			89.33			71.11			N/M			N/M			67.08
	Business			Retail			Wealth
Three Months Ended June 30, 2015	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	375		$	155		$	45		$	(155	)	$	2		$	422
Provision for credit losses	61			(8		)	(9		)	—			3			47
Noninterest income	140			46			60			14			1			261
Noninterest expenses	176			182			74			3			1			436
Provision (benefit) for income taxes (FTE)	96			9			14			(54		)	—			65
Net income (loss)	$	182		$	18		$	26		$	(90	)	$	(1	)	$	135
Net loan charge-offs (recoveries)	$	22		$	1		$	(5	)	$	—		$	—		$	18
Selected average balances:
Assets	$	39,135		$	6,459		$	5,153		$	11,721		$	6,495		$	68,963
Loans	38,109			5,770			4,954			—			—			48,833
Deposits	30,229			22,747			4,060			93			269			57,398
Statistical data:
Return on average assets (a)	1.87		%	0.30		%	2.01		%	N/M			N/M			0.79		%
Efficiency ratio (b)	34.19			89.88			70.27			N/M			N/M			63.68
	Business			Retail			Wealth
Three Months Ended September 30, 2014	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	376		$	153		$	45		$	(166	)	7			$	415
Provision for credit losses	(4		)	—			7			—			2			5
Noninterest income	97			42			59			15			2			215
Noninterest expenses	152			185			78			(29		)	11			397
Provision (benefit) for income taxes (FTE)	114			3			7			(49		)	(1		)	74
Net income (loss)	$	211		$	7		$	12		$	(73	)	$	(3	)	$	154
Net loan charge-offs (recoveries)	$	(2	)	$	—		$	5		$	—		$	—		$	3
Selected average balances:
Assets	$	37,751		$	6,273		$	4,998		$	11,023		$	6,353		$	66,398
Loans	36,746			5,605			4,808			—			—			47,159
Deposits	28,815			22,042			3,924			128			254			55,163
Statistical data:
Return on average assets (a)	2.24		%	0.12		%	0.98		%	N/M			N/M			0.93		%
Efficiency ratio (b)	32.12			94.64			75.00			N/M			N/M			62.87

(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

22

MARKET SEGMENT FINANCIAL RESULTS (unaudited)
Comerica Incorporated and Subsidiaries
(dollar amounts in millions)										Other			Finance
Three Months Ended September 30, 2015	Michigan			California			Texas			Markets			& Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	180		$	187		$	129		$	87		$	(160	)	$	423
Provision for credit losses	6			24			10			(11		)	(3		)	26
Noninterest income	85			38			34			96			11			264
Noninterest expenses	152			102			97			110			—			461
Provision (benefit) for income taxes (FTE)	36			37			20			25			(54		)	64
Net income (loss)	$	71		$	62		$	36		$	59		$	(92	)	$	136
Net loan charge-offs	$	9		$	10		$	4		$	—		$	—		$	23
Selected average balances:
Assets	$	13,856		$	17,060		$	11,578		$	8,462		$	20,377		$	71,333
Loans	13,223			16,789			10,997			7,963			—			48,972
Deposits	21,946			18,372			10,753			7,593			476			59,140
Statistical data:
Return on average assets (a)	1.23		%	1.27		%	1.16		%	2.82		%	N/M			0.76		%
Efficiency ratio (b)	57.49			45.28			59.54			59.86			N/M			67.08
										Other			Finance
Three Months Ended June 30, 2015	Michigan			California			Texas			Markets			& Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	179		$	181		$	130		$	85		$	(153	)	$	422
Provision for credit losses	(13		)	4			43			10			3			47
Noninterest income	85			37			31			93			15			261
Noninterest expenses	128			100			94			110			4			436
Provision (benefit) for income taxes (FTE)	51			43			10			15			(54		)	65
Net income (loss)	$	98		$	71		$	14		$	43		$	(91	)	$	135
Net loan charge-offs (recoveries)	$	(2	)	$	6		$	5		$	9		$	—		$	18
Selected average balances:
Assets	$	13,852		$	16,696		$	11,878		$	8,321		$	18,216		$	68,963
Loans	13,290			16,429			11,254			7,860			—			48,833
Deposits	21,706			17,275			10,959			7,096			362			57,398
Statistical data:
Return on average assets (a)	1.73		%	1.54		%	0.46		%	2.05		%	N/M			0.79		%
Efficiency ratio (b)	48.21			46.04			58.20			61.45			N/M			63.68
										Other			Finance
Three Months Ended September 30, 2014	Michigan			California			Texas			Markets			& Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	179		$	182		$	130		$	83		$	(159	)	$	415
Provision for credit losses	(8		)	14			3			(6		)	2			5
Noninterest income	83			37			36			42			17			215
Noninterest expenses	166			102			96			51			(18		)	397
Provision (benefit) for income taxes (FTE)	38			40			25			21			(50		)	74
Net income (loss)	$	66		$	63		$	42		$	59		$	(76	)	$	154
Net loan charge-offs (recoveries)	$	3		$	6		$	—		$	(6	)	$	—		$	3
Selected average balances:
Assets	$	13,724		$	15,768		$	11,835		$	7,695		$	17,376		$	66,398
Loans	13,248			15,509			11,147			7,255			—			47,159
Deposits	21,214			16,350			10,633			6,584			382			55,163
Statistical data:
Return on average assets (a)	1.19		%	1.47		%	1.40		%	3.07		%	N/M			0.93		%
Efficiency ratio (b)	62.91			46.49			57.91			41.46			N/M			62.87

(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

23

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited)
Comerica Incorporated and Subsidiaries
	September 30,			June 30,			March 31,			December 31,			September 30,
(dollar amounts in millions)	2015			2015			2015			2014			2014
Tier 1 Common Capital Ratio:
Tier 1 and Tier 1 common capital (a)	n/a			n/a			n/a			$	7,169		$	7,105
Risk-weighted assets (a)	n/a			n/a			n/a			68,269			67,102
Tier 1 and Tier 1 common risk-based capital ratio	n/a			n/a			n/a			10.50		%	10.59		%
Tangible Common Equity Ratio:
Common shareholders' equity	$	7,622		$	7,523		$	7,500		$	7,402		$	7,433
Less:
Goodwill	635			635			635			635			635
Other intangible assets	14			15			15			15			15
Tangible common equity	$	6,973		$	6,873		$	6,850		$	6,752		$	6,783
Total assets	$	71,012		$	69,945		$	69,333		$	69,186		$	68,883
Less:
Goodwill	635			635			635			635			635
Other intangible assets	14			15			15			15			15
Tangible assets	$	70,363		$	69,295		$	68,683		$	68,536		$	68,233
Common equity ratio	10.73		%	10.76		%	10.82		%	10.70		%	10.79		%
Tangible common equity ratio	9.91			9.92			9.97			9.85			9.94
Tangible Common Equity per Share of Common Stock:
Common shareholders' equity	$	7,622		$	7,523		$	7,500		$	7,402		$	7,433
Tangible common equity	6,973			6,873			6,850			6,752			6,783
Shares of common stock outstanding (in millions)	177			178			178			179			180
Common shareholders' equity per share of common stock	$	43.02		$	42.18		$	42.12		$	41.35		$	41.26
Tangible common equity per share of common stock	39.36			38.53			38.47			37.72			37.65

(a) Tier 1 capital and risk-weighted assets as defined by Basel I risk-based capital rules.

n/a - not applicable.

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 Basel I risk-based capital rules in effect through December 31, 2014. Effective January 1, 2015, regulatory capital components and risk-weighted assets are defined by and calculated in conformity with Basel III risk-based capital rules. 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.

24

EX-99.2

Comerica Incorporated Third Quarter 2015Financial Review October 16, 2015 2 Safe Harbor Statement Any statements in this presentation that are not historical facts are forward-looking statements as defined in the Private Securities LitigationReform 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 andsimilar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, as theyrelate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated onthe beliefs and assumptions of Comerica's management based on information known to Comerica's management as of the date of thispresentation and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives ofComerica's management for future or past operations, products or services, and forecasts of Comerica's revenue, earnings or other measures ofeconomic 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 anduncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica's actual resultscould differ materially from those discussed. Factors that could cause or contribute to such differences are changes in general economic, politicalor industry conditions; changes in monetary and fiscal policies, including changes in interest rates; changes in regulation or oversight; Comerica'sability to maintain adequate sources of funding and liquidity; the effects of more stringent capital or liquidity requirements; declines or otherchanges in the businesses or industries of Comerica's customers, including the energy industry; operational difficulties, failure of technologyinfrastructure or information security incidents; reliance on other companies to provide certain key components of business infrastructure; factorsimpacting noninterest expenses which are beyond Comerica's control; changes in the financial markets, including fluctuations in interest rates andtheir impact on deposit pricing; changes in Comerica's credit rating; unfavorable developments concerning credit quality; the interdependence offinancial service companies; the implementation of Comerica's strategies and business initiatives; Comerica's ability to utilize technology toefficiently and effectively develop, market and deliver new products and services; competitive product and pricing pressures among financialinstitutions within Comerica's markets; changes in customer behavior; any future strategic acquisitions or divestitures; management's ability tomaintain and expand customer relationships; management's ability to retain key officers and employees; the impact of legal and regulatoryproceedings or determinations; the effectiveness of methods of reducing risk exposures; the effects of terrorist activities and other hostilities; theeffects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods; changes in accountingstandards and the critical nature of Comerica's accounting policies. Comerica cautions that the foregoing list of factors is not exclusive. Fordiscussion of factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and ExchangeCommission. In particular, please refer to “Item 1A. Risk Factors” beginning on page 12 of Comerica's Annual Report on Form 10-K for the yearended December 31, 2014. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to updateforward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements aremade. For any forward-looking statements made in this presentation or in any documents, Comerica claims the protection of the safe harbor forforward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

3 Financial Summary $ in millions, except per share data ● n/a – not applicable ● 1Including $48MM & $44MM impact of accounting presentation of a card program in 3Q15 & 2Q15, respectively. ● 2Reflects litigation reserves releases of $3MM, $30MM & $2MM in 3Q15, 2Q15 & 3Q14, respectively. ● 3Basel III capital rules (standardized approach) became effective for Comerica on 1/1/15. The ratio reflects transitional treatment for certain regulatory deductions and adjustments. Capital ratios for prior periods are based on Basel I rules. ● 4See slide #29 for a reconciliation of non-GAAP financial measures. ● 5Estimated 3Q15 2Q15 3Q14 Diluted income per common share $0.74 $0.73 $0.82 Net interest income $422 $421 $414 Provision for credit losses 26 47 5 Noninterest income1 264 261 215 Noninterest expenses1,2 461 436 397 Net income 136 135 154 Total average loans $48,972 $48,833 $47,159 Total average deposits 59,140 57,398 55,163 Basel III common equity Tier 1 capital ratio3 10.58%5 10.40% n/a Tier 1 common capital ratio3,4 n/a n/a 10.59% Average diluted shares (millions) 181 182 185 4 Third Quarter 2015 Results $ in millions, except per share data ● n/a – not applicable ● 3Q15 compared to 2Q15 ● 1Including the $48MM & $44MM impact of accounting presentation of a card program in 3Q15 & 2Q15, respectively. ● 2EPS based on diluted income per share. ● 3See slide #29 for a reconciliation of non-GAAP financial measures. ● 43Q15 repurchases under the equity repurchase program. 3Q15 Change From2Q15 3Q14Total average loans $48,972 $ 139 $1,813 Total average deposits 59,140 1,742 3,977 Net interest income $422 $ 1 $ 8 Provision for credit losses 26 (21) 21 Noninterest income1 264 3 49 Noninterest expenses1 461 25 64 Net income 136 1 (18) Earnings per share (EPS)2 $0.74 $0.01 $(0.08) Tangible Book Value Per Share3 $39.36 $0.83 $1.71 Equity repurchases4 1.2MM shares or $59MM Key QoQ Performance Drivers  Pace of loan growth moderated, as expected, while deposits increased 3%  Net interest income stable  Provision reflected modest reserve build & increase in net charge-offs to 19 bps  Noninterest income increase included growth in card fees  Expenses remained well controlled & reflect litigation reserve release ($3MM in 3Q15 & $30MM in 2Q15)  Equity repurchases4, combined with dividends of $0.21 per share, returned $96 million or 71% to shareholders

5 Diverse Footprint Drives Growth $ in billions 11.1 11.3 11.5 11.2 11.0 3Q14 4Q14 1Q15 2Q15 3Q15 Average Loans 10.6 10.8 11.1 11.0 10.8 3Q14 4Q14 1Q15 2Q15 3Q15 Average Deposits 15.5 15.8 16.2 16.4 16.8 3Q14 4Q14 1Q15 2Q15 3Q15 Average Loans 16.4 18.0 16.8 17.3 18.4 3Q14 4Q14 1Q15 2Q15 3Q15 Average Deposits 13.3 13.2 13.3 13.3 13.2 3Q14 4Q14 1Q15 2Q15 3Q15 Average Loans 21.2 21.6 21.7 21.7 21.9 3Q14 4Q14 1Q15 2Q15 3Q15 Average Deposits -1% +1% +8% +12% +3% Stable -2% -2% +2% +6% +1% Stable 6 Loan Growth Moderated, as ExpectedAverage loans increased $1.8B or 4%, compared to 3Q14 3Q15 compared to 2Q15 ● 1Utilization of commercial commitments as a percentage of total commercial commitments at period-end. Total Loans($ in billions) 47.2 47.4 48.2 48.8 49.0 49.7 48.9 3.22 3.22 3.19 3.20 3.17 3Q14 4Q14 1Q15 2Q15 3Q15 2Q15 3Q15 Loan Yields Average Balances Period-end Total average loans increased $139MM + $367MM Technology and Life Sciences+ $124MM Commercial Real Estate + $ 72MM Entertainment+ $ 69MM Private Banking+ $ 47MM Mortgage Banker Finance- $231MM Corporate Banking- $214MM General Middle Market - $ 86MM Energy Period-end loans declined $799MM + $306MM Technology and Life Sciences + $208MM Commercial Real Estate- $515MM Mortgage Banker Finance- $364MM General Middle Market- $266MM Corporate Banking- $219MM National Dealer Services  Commitments down $464MM to $56.6B  Line utilization1 50%, down from 51%  Loan pipeline increased  Loan yields -3 bps due to portfolio mix shift

7 Robust, Broad-based Deposit GrowthAverage deposits increased $4.0B or 7%, compared to 3Q14 3Q15 compared to 2Q15 ● 1Interest costs on interest-bearing deposits ● 2At 9/30/15 Average Balances Period-end Strong Deposit Base($ in billions) 55.2 57.8 57.0 57.4 59.1 58.3 58.8 0.15 0.15 0.15 0.14 0.14 3Q14 4Q14 1Q15 2Q15 3Q15 2Q15 3Q15 Deposit Rates1 Total average deposits increased $1.7B or 3% + $538MM General Middle Market + $445MM Technology and Life Sciences+ $296MM Corporate Banking+ $181MM Small Business+ $151MM Retail Banking+ $128MM Private Banking  Noninterest-bearing deposits increased $1.3B to $28.6B  Interest-bearing deposits increased $484MM to $30.5B  About 2/3 of total deposits are commercial Loan to Deposit Ratio2 of 83% 8 Securities Portfolio GrewPositioned for LCR compliance At 9/30/15 ● LCR: Liquidity Coverage Ratio ● 1Estimated as of 9/30/15. Excludes auction rate securities (ARS). ● 2Net unrealized pre-tax gain on the available-for-sale (AFS) portfolio. ● 3Net unamortized premium on the MBS portfolio. Total average securities portfolio increased $300MM  Purchased ~$200MM in Treasury Securities & ~$150MM MBS in 3Q15 • Subsequent to issuing $350MM in subordinated bank debt & $175MM in senior bank debt  Duration of 3.6 years1 • Extends to 4.5 years under a 200 bps instantaneous rate increase1  Net unrealized pre-tax gain of $127MM2  Net unamortized premium of $40MM3  GNMA ~35% of MBS portfolio 9.0 9.0 9.1 9.1 9.1 9.2 9.4 9.4 9.4 9.9 9.9 10.2 10.2 10.6 2.22 2.19 2.16 2.13 2.11 3Q14 4Q14 1Q15 2Q15 3Q15 2Q15 3Q15 Other (Incl. Treasury Securities)Mortgage-backed Securities (MBS)Securities Yields Securities Portfolio($ in billions) Average Balances Period-end

9 Net Interest Income StableNIM compression mainly due to increased Fed deposits 13Q15 compared to 2Q15 ● 2For standard model assumptions see slide #16. Estimate is based on simulation modeling analysis. 414 415 413 421 422 2.67 2.57 2.64 2.65 2.54 3Q14 4Q14 1Q15 2Q15 3Q15 NIM Net Interest Income($ in millions) +200 bps rate rise = ~$220MM2 Estimated increase to net interest income over 12 months Net Interest Income and Rate NIM1 $421MM 2Q15 2.65% +2 Loan impacts:+$4MM One add’l day in 3Q15+$1MM loan growth- $3MM lower yields -0.02 -3 Higher debt expense -0.02 +1 Higher securities balance at lower yield -0.01 +1 Higher balances at Fed -0.06 $422MM 3Q15 2.54% 3 1 8 18 23 3 1 7 15 19 3Q14 4Q14 1Q15 2Q15 3Q15 NCO Ratio 10 Credit Quality Remains StrongNet charge-offs well below normal at 19bps At 9/30/15 ● 1Criticized loans are consistent with regulatory defined Special Mention, Substandard, Doubtful & Loss loan classifications. ● 2This information includes all loans related to energy at 9/30/15, ~$3.2B of loans in our Energy business line & ~$615MM loans in other businesses that have a sizable portion of their revenue related to energy or could be otherwise disproportionately negatively impacted by prolonged low oil and gas prices. ● 3“Normal” estimates are based on internal historical analysis & management judgement. Net Loan Charge-offs($ in millions) (bps) Normal Net Charge-Offs ~40 bps3 329 273 266 349 357 2,094 1,893 2,067 2,361 2,898 4.4 3.9 4.2 4.7 5.9 3Q14 4Q14 1Q15 2Q15 3Q15 NALsCriticized as a % of Total Loans Criticized Loans1($ in millions) Normal Criticized Loans of ~8.5% of Total Loans3 635 635 640 668 670 1.7 2.1 2.2 1.7 1.7 3Q14 4Q14 1Q15 2Q15 3Q15 Allowance for LoanLosses as a % of NPL's Allowance for Credit Losses($ in millions)  Provision decreased to $26MM• $2MM Allowance increase• $23MM NCO mainly Technology & Life Sciences & energy-related2  Inflows to nonaccrual $69MM • Down from $145MM in 2Q15  Nonaccruals stable at 0.7% of total loans• Increased $8MM with energy2 increase of $7MM to $126MM  Criticized loans increased $537MM• Energy2 increased $480M to $1.1B

11 Noninterest Income Increased 3Q15 compared to 2Q15 ● 1Including impact of accounting presentation of a card program of $48MM in 3Q15 & $44MM in both 2Q15 & 1Q15. ● 2Impact of changes in interest rate curve on the credit spread of debt that is swapped from fixed to floating interest rate. 215 225 255 261 264 3Q14 4Q14 1Q15 2Q15 3Q15 Noninterest Income1($ in millions) Noninterest income increased $3MM + $3MM Card fees + $1MM Foreign Exchange + $1MM Brokerage - $1MM Fiduciary - Other noninterest income+ $4MM Hedge ineffectiveness income2+ $3MM Warrant related income- $5MM Deferred comp (offset in expenses)- $4MM Investment banking 12 Noninterest Expenses Reflect Tight Control 3Q15 compared to 2Q15 ● 1Including impact of accounting presentation of a card program of $48MM in 3Q15 & $44MM in both 2Q15 & 1Q15. Noninterest expenses increased $25MM + $27MM Litigation-related release (Reserve release of $3MM in 3Q15 & $30MM in 2Q15) + $ 2MM Occupancy + $ 2MM Software - $ 8MM Salaries & benefits expense - Deferred comp - Stock comp forfeiture- Staff insurance+ Technology-related contract labor+ 1 additional day 397 419 459 436 461 3Q14 4Q14 1Q15 2Q15 3Q15 Noninterest Expenses1($ in millions)

13 19% 21% 23% 24% 28% 28% 58% 53% 42% 43%47% 79% 76% 66% 71% 2011 2012 2013 2014 3Q15 Dividends Equity Repurchases Active Capital Management 1Outlook as of 10/16/15 ● 2See Supplemental Financial Data slides for a reconciliation of non-GAAP financial measures ●3Shares & warrants repurchased under equity repurchase program ● 4Based on actual dividends declared in 1Q15, 2Q15 & 3Q15, and assuming no change in dividend per share for 4Q15. Shareholder Payout3($ in millions)2015 Capital Plan Target1: Up to $393MM equity repurchases over five quarters (2Q15 through 2Q16)• 2Q15: $59MM (1.0MM shares and 500,000 warrants) repurchased • 3Q15: $59MM (1.2MM shares) repurchased• Pace of buyback linked to financial performance, which is expected to improve as rates rise Dividends Per Share Growth 0.40 0.55 0.68 0.79 0.83 2011 2012 2013 2014 2015 +108% $31.40 $33.36 $35.64 $37.72 $39.36 2011 2012 2013 2014 3Q15 Tangible Book Value Per Share2 4 14 Outlook as of 10/16/15 FY15 compared to FY14 unchanged 4Q15 compared to 3Q15 Average loans Relatively Stable• Mortgage Banker seasonally lower and continued decline in Energy• Small increases in remaining businesses Net interest income Relatively Stable• Asset growth approximately offsets continued pressure on yields from low rate environment Provision Remains Low• Provision similar to 3Q15 Noninterest income Slightly Higher• Growth in card fees, along with fiduciary and investment banking fees should markets improve• 3Q15 levels of warrant income, hedge ineffectiveness and deferred comp not expected to repeat, but are difficult to predict Noninterest expenses Moderately Higher• Seasonal increase in benefits, outside processing, marketing, occupancy, consultant fees & technology-related• 3Q15 levels of litigation-related, deferred comp and stock forfeitures not expected to repeat, but are difficult to predict Management 2015 OutlookAssuming continuation of current economic & low rate environment

Appendix 16 Interest Rate SensitivityRemain well positioned for rising rates At 9/30/15 ● For methodology see the Company’s Form 10-Q, as filed with the SEC. Estimates are based on simulation modeling analysis. Estimated Net Interest Income: Annual (12 month) SensitivitiesBased on Various AssumptionsAdditional Scenarios are Relative to 3Q15 Standard Model($ in millions) ~110 ~190 ~200 ~210 ~220 ~260 ~330 Up 100bps Addl. $3BDepositDecline Addl.20%Increasein Beta Addl. $1BDepositDecline 3Q15StandardModel Addl.~3%LoanGrowth Up 300bps 0.1 Interest Rates 200 bps gradual, non-parallel rise Loan Balances Modest increase Deposit Balances Moderate decrease Deposit Pricing (Beta) Historical price movements with short-term rates Securities Portfolio Increased for LCR compliance Loan Spreads Held at current levels MBS Prepayments Third-party projections and historical experience Hedging (Swaps) No additions modeled Standard Model Assumptions

17 Loans by Business and Market Average $ in billions ● 1Other Markets includes Florida, Arizona, the International Finance Division and businesses that have a significant presence outside of the three primary geographic markets.  Middle Market: Serving companies with revenues generally between $20-$500MM  Corporate Banking: Serving companies (and their U.S. based subsidiaries) with revenues generally over $500MM  Small Business: Serving companies with revenues generally under $20MM By Line of Business 3Q15 2Q15 3Q14 Middle MarketGeneralEnergyNational Dealer ServicesEntertainmentTech. & Life SciencesEnvironmental Services $13.33.36.00.73.30.9 $13.53.46.00.63.00.9 $13.53.35.50.62.60.9 Total Middle Market $27.5 $27.4 $26.4 Corporate BankingUS BankingInternational 2.41.7 2.61.8 2.81.8 Mortgage Banker Finance 2.1 2.1 1.6 Commercial Real Estate 4.4 4.2 4.2 BUSINESS BANK $38.1 $38.1 $36.8 Small Business 4.0 3.9 3.8 Retail Banking 1.9 1.9 1.8 RETAIL BANK $5.9 $5.8 $5.6 Private Banking 5.0 4.9 4.8 WEALTH MANAGEMENT $5.0 $4.9 $4.8 TOTAL $49.0 $48.8 $47.2 By Market 3Q15 2Q15 3Q14 Michigan $13.2 $13.3 $13.3 California 16.8 16.4 15.5 Texas 11.0 11.2 11.1 Other Markets1 8.0 7.9 7.3 TOTAL $49.0 $48.8 $47.2 18 Deposits by Business and Market Average $ in billions ● 1Other Markets includes Florida, Arizona, the International Finance Division and businesses that have a significant presence outside of the three primary geographic markets. ● 2Finance/ Other includes items not directly associated with the geographic markets or the three major business segments.  Middle Market: Serving companies with revenues generally between $20-$500MM  Corporate Banking: Serving companies (and their U.S. based subsidiaries) with revenues generally over $500MM  Small Business: Serving companies with revenues generally under $20MM By Line of Business 3Q15 2Q15 3Q14 Middle MarketGeneralEnergyNational Dealer ServicesEntertainmentTech. & Life SciencesEnvironmental Services $16.20.60.20.16.70.2 $15.70.70.20.16.20.2 $15.30.50.20.15.90.1 Total Middle Market $24.0 23.1 $22.1 Corporate BankingUS BankingInternational 2.72.2 2.62.0 2.71.8 Mortgage Banker Finance 0.7 0.6 0.5 Commercial Real Estate 1.8 1.9 1.7 BUSINESS BANK $31.4 $30.2 $28.8 Small Business 3.1 2.9 2.9 Retail Banking 19.9 19.8 19.2 RETAIL BANK $23.0 $22.7 $22.1 Private Banking 4.2 4.1 3.9 WEALTH MANAGEMENT $4.2 $4.1 $3.9 Finance/ Other2 0.5 0.4 0.4 TOTAL $59.1 $57.4 $55.2 By Market 3Q15 2Q15 3Q14 Michigan $21.9 $21.7 $21.2 California 18.4 17.3 16.4 Texas 10.8 11.0 10.6 Other Markets1 7.6 7.0 6.6 Finance/ Other2 0.5 0.4 0.4 TOTAL $59.1 $57.4 $55.2

19 Energy Line of Business30+ Years experience with strong performance through cycles At 9/30/15 ● 1Estimate as of 10/16/15 ● 2Source: U.S. Energy Information Administration  Granular portfolio: ~200 customers  48% line utilization, unchanged from 2Q15  $3.2B in loans at period-end 9/30/15, decreased $66MM from 6/30/15  NALs 2.5% (last peak 3Q10 ~3%)  Negative credit migration with manageable losses anticipated at this point1  Prudently increased reserves for energy loans for past 4 quarters 1,81 1 1,65 6 1,46 9 1,32 7 1,29 6 1,14 9 1,19 6 1,26 9 1,42 3 1,45 6 1,63 5 1,94 7 2,30 5 2,45 2 2,64 1 2,85 1 3,00 2 2,95 1 2,89 5 2,75 2 2,98 2 3,23 6 3,33 2 3,49 2 3,70 0 3,42 4 3,33 8 150 200 250 300 350 1Q0 9 2Q0 9 3Q0 9 4Q0 9 1Q1 0 2Q1 0 3Q1 0 4Q1 0 1Q1 1 2Q1 1 3Q1 1 4Q1 1 1Q1 2 2Q1 2 3Q1 2 4Q1 2 1Q1 3 2Q1 3 3Q1 3 4Q1 3 1Q1 4 2Q1 4 3Q1 4 4Q1 4 1Q1 5 2Q1 5 3Q1 5 U.S. OilProduction(MM bb/mo.) Average Loans($ in millions) 0 0 0 0 36 69 19 10 13 6 0 3 200 4 200 5 200 6 200 7 200 8 200 9 201 0 201 1 201 2 201 3 201 4 YTD 3Q 15 Strong Credit Quality(In basis points) Energy Net Charge-offs to Avg. Energy Loans Exploration & Production 69%Midstream15% Service16% Natural Gas 11% Oil40% Mixed18% Diverse Customer Base(Based on period-end outstandings) 2 20 At 9/30/15 ● 1Source: Mortgage Bankers Association (MBA) Mortgage Finance Forecast as of 9/18/15 ● 2$ in billions; 3Q15 estimated ● 3Based on MBA annual mortgage origination estimates 566 614 923 1,53 5 1,48 3 1,50 7 1,9 96 2,09 4 1,73 7 1,81 5 1,60 5 1,10 9 886 1 ,319 1, 595 1,39 7 1,39 9 2 ,089 2,13 6 200 300 400 500 600 700 800 900 1Q1 1 2Q1 1 3Q1 1 4Q1 1 1Q1 2 2Q1 2 3Q1 2 4Q1 2 1Q1 3 2Q1 3 3Q1 3 4Q1 3 1Q1 4 2Q1 4 3Q1 4 4Q1 4 1Q1 5 2Q1 5 3Q1 5 Actual MBAMortgageOriginationVolumes Average Loans($ in millions) Mortgage Banker Finance50 Years experience with reputation for consistent, reliable approach MBA Mortgage Originations Forecast1($ in billions) 330 395 363 303 273 346 355 291 1Q15Actual 2Q15Actual 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Purchase Refinance 1,2  Provide warehouse financing: bridge from residential mortgage origination to sale to end market  Extensive backroom provides collateral monitoring and customer service  Focus on full banking relationships  Granular portfolio with 100+ relationships  Market share more than doubled over past five years3  Underlying mortgages are typically related to home purchases as opposed to refinancesAs of 3Q15: • Comerica: ~80% purchase • Industry: 65% purchase1

21 National Dealer Services At 9/30/15 ● 1Other includes obligations where a primary franchise is indeterminable (rental car and leasing companies, heavy truck, recreational vehicles, and non-floor plan loans) Toyota/Lexus15% Honda/Acura 13% Ford 9% GM 9% Chrysler 10% Mercedes 3% Nissan/ Infiniti 7%Other European 12% Other Asian 12% Other110% Franchise Distribution(Based on period-end loan outstandings) Geographic DispersionCalifornia 63% Texas 9%Michigan 18% Other 10% Average Loans($ in billions)  65+ years of Floor Plan lending, with 20+ years on a national basis  Top tier strategy  Focus on “Mega Dealer” (five or more dealerships in group)  Strong credit quality  Robust monitoring of company inventory and performance 1.9 1.7 1.3 1.5 1.9 2.3 2.3 2.5 2.8 3.1 2.9 3.2 3.2 3.5 3.2 3.4 3.5 3.6 3.5 3.8 3.6 3.1 3.4 3.8 4.3 4.3 4.6 4.9 5.1 4.9 5.3 5.3 5.7 5.5 5.7 5.9 6.0 6.0 1Q1 1 2Q1 1 3Q1 1 4Q1 1 1Q1 2 2Q1 2 3Q1 2 4Q1 2 1Q1 3 2Q1 3 3Q1 3 4Q1 3 1Q1 4 2Q1 4 3Q1 4 4Q1 4 1Q1 5 2Q1 5 3Q1 5 Floor Plan 22 Technology and Life Sciences20+ Years experience provides competitive advantage At 9/30/15  National business headquartered in Palo Alto, CA, with 14 offices in U.S. & Toronto  Products & services tailored to meet needs of companies throughout their lifecycle  Equity Funds Services helps drive avg. loan growth (up ~$1B over past 4 years)  Strong relationships with top-tier investors  Granular portfolio  Closely monitor cash balances Customer Segment Overview(% based on loan outstandings) ~15% Early Stage ~40%Growth ~10% Late Stage ~30%Equity Funds Services ~5%Leveraged Finance 1.3 1.8 2.0 2.5 2.9 3.0 3.3 4.1 5.0 5.1 5.8 6.1 6.2 6.7 2011 2012 2013 2014 1Q15 2Q15 3Q15 Average LoansAverage Deposits Average Loans & Deposits ($ in billions) Net Charge-offs(In basis points) (27) 49 - 26 69 168 24 80 57 61 89 100 200 4 200 5 200 6 200 7 200 8 200 9 201 0 201 1 201 2 201 3 201 4 YTD 3Q 15 TLS Net Charge-offs to Avg. TLS Loans

23 Commercial Real Estate Line of Business At 9/30/15 ● 1Includes CRE line of business loans not secured by real estate. ● 2Excludes CRE line of business loans not secured by real estate. 4.0 4.4 4.6 4.4 4.3 3.9 3.7 3.7 3.8 3.8 3.8 4 .0 4.1 4.2 4.2 4.2 4.2 4 .4 2Q1 1 3Q1 1 4Q1 1 1Q1 2 2Q1 2 3Q1 2 4Q1 2 1Q1 3 2Q1 3 3Q1 3 4Q1 3 1Q1 4 2Q1 4 3Q1 4 4Q1 4 1Q1 5 2Q1 5 3Q1 5 Commercial MortgagesReal Estate ConstructionCommercial & Other Average Loans($ in billions) 6.1 6.4 6.4 6.6 6.9 3Q14 4Q14 1Q15 2Q15 3Q15 Commitments($ in billions; Based on period-end) 14% 1 Michigan$248 7% California$1,638 46% Texas$1,030 29%Florida$121 3% Other$548 15% CRE by Market2($ in millions; Based on location of property) 24 Shared National Credit (SNC) Relationships At 9/30/15 ● SNCs are not a line of business. The balances shown above are included in the line of business balances. ●SNCs are facilities greater than $20 million shared by three or more federally supervised financial institutions which are reviewed by regulatory authorities at the agent bank level.  SNC relationships included in business line balances  Approximately 797 borrowers  Comerica is agent for approx. 20%  Strategy: Pursue full relationships with ancillary business  Adhere to same credit underwriting standards as rest of loan book Period-end Loans of $10.1B Commercial Real Estate$0.7B 7% Corporate $2.4B 23% General$2.2B 22%National Dealer $0.4B 4% Energy$3.0B 30% Entertainment$0.3B 3% Tech. & Life Sciences$0.3B 3% Environmental Services $0.3B 3% Mortgage Banker$0.4B 4% Small Bus & Per Fin Svc$0.1B 1% = Total Middle Market (65%)

25 Government Card ProgramsGenerate valuable retail deposits At 9/30/15 ● 1Source: the Nilson Report July 2015, based on 2014 data ● 2Based on a 2014 survey conducted by KRC Research ● 3Source: U.S. Department of the Treasury ● 4Source: Social Security Administration 720 948 1,221 1,444 1,669 2011 2012 2013 2014 YTD 2015 US Treasury ProgramState Card Programs Growing Average Noninterest-Bearing Deposits($ in millions)  #2 prepaid card issuer in US1  State/ Local government benefit programs:• 49 distinct programs  US Treasury DirectExpress Program:• Exclusive provider of prepaid debit cards since 2008; contract extended to January 2020• ~80k new accounts per month• 95% of Direct Express card holders report they are satisfied2• Eliminating monthly benefit checks, resulting in significant taxpayer savings3 # of Social Security Beneficiaries4(in millions) 25 30 35 40 45 50 55 60 1970 1975 1980 1985 1990 1995 2000 2005 2010 Key Facts 26 Funding and Maturity Profile At 9/30/15 ● 1Face value at maturity.  Wholesale debt markets  Federal Home Loan Bank of Dallas• $-0- outstanding • $5B borrowing capacity  Brokered deposits• $-0-outstanding  Fed funds/ Repo markets Multiple Funding Sources Debt Profile by Maturity1($ in millions) 650 500 350 1,425 2016 2017 2019 2020+ Subordinated NotesSenior Notes Equity$7.6B 11% Interest-Bearing Deposits$30.1B 43% Noninterest-Bearing Deposits$28.7B 41% Wholesale Debt $3.2B 5% Funding ProfileAt September 30, 2015

27 Expenses Remain Well ControlledContinued focus on efficiency At 9/30/15 ● 1Goal as of 10/16/15. 11,4 44 11,3 50 11,2 87 11,2 09 10,8 92 10,8 16 10,7 00 10,7 82 10,1 86 9,40 2 9,07 3 9,46 8 9,03 5 8,94 8 8,87 6 8,83 1 8,90 1 8,94 1 $6.0 $6 .8 $7.1 $7 .5 $7.4 $7 .8 $8.4 $8.5 $9 .2 $9.2 $8.8 $8.9 $ 10.3 $10 .7 $11 .4 $11 .9 $11 .9 $12 .1 200 0 200 1 200 2 200 3 200 4 200 5 200 6 200 7 200 8 200 9 201 0 201 1 201 2 201 3 201 4 1Q1 5 2Q1 5 3Q1 5 Employees Avg. Loans + Deposits/Employee Driving Efficiency While Growing Loans & Deposits($ in millions) 51.8 % 50.7 % 50.4 % 54.0 % 47.1 % 53. 2% 55.6 % 58.0 % 58.9 % 58.6 % 66 .4% 199 8 199 9 200 0 200 1 200 2 200 3 200 4 200 5 200 6 200 7 YTD 3Q1 5 Average: 53.8% 10-Years Prior to the Downturn Long-TermGoal: Below 60% Long-Term Efficiency Ratio Goal1: < 60% Senior Unsecured/Long-Term Issuer Rating S&P Moody’s Fitch Cullen Frost A A2 -- BB&T A- A2 A+ BOK Financial A- A2 A Comerica A- A3 A M&T Bank A- A3 A KeyCorp BBB+ Baa1 A- Fifth Third BBB+ Baa1 A SunTrust BBB+ Baa1 A- Huntington BBB Baa1 A- Regions Financial BBB Baa3 BBB Zions Bancorporation BBB- Ba1 BBB- First Horizon National Corp BB+ Baa3 BBB- Wells Fargo & Company A+ A2 AA- U.S. Bancorp A+ A1 AA JP Morgan A A3 A+ PNC Financial Services Group A- A3 A+ Bank of America A- Baa1 A 28 Holding Company Debt Rating As of 10/9/15 ● Source: SNL Financial ● Debt Ratings are not a recommendation to buy, sell, or hold securities Pee r Ba nks Larg e Ba nks

Supplemental Financial DataReconciliation of non-GAAP financial measures with financial measures defined by GAAP ($ in millions) 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 Basel I risk-based capital rules in effect through 12/31/14. Effective 1/1/15, regulatory capital components and risk-weighted assets are defined by and calculated in conformity with Basel III risk-based capital rules. 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.● The Corporation 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. ● 1Tier 1 Capital and risk-weighted assets as defined by Basel I risk-based capital rules. ● n/a – not applicable. 9/30/15 6/30/15 12/31/14 9/30/14 12/31/13 12/31/12 12/31/11 Tier 1 and Tier 1 common capital1Risk-weighted assets1Tier 1 and Tier 1 common capital ratio n/an/an/a n/an/an/a 7,16968,26910.50% 7,10567,10610.59% 6,89564,82510.64% 6,70566,11510.14% Common shareholders’ equityLess: GoodwillLess: Other intangible assets $7,62263514 $7,52363515 $7,40263515 $7,43363515 $7,15063517 $6,93963522 $6,86563532 Tangible common equity 6,973 6,873 $6,752 $6,783 $6,498 $6,282 $6,198 Total assetsLess: GoodwillLess: Other intangible assets $71,01263514 $69,94563515 $69,18663515 $68,88363515 $65,22463517 $65,06663522 $61,00563532 Tangible assets 70,363 69,295 $68,536 $68,233 $64,572 $64,409 $60,338Common equity ratio 10.73% 10.76% 10.70% 10.79% 10.97% 10.67% 11.26%Tangible common equity ratio 9.91 9.92 9.85 9.94 10.07 9.76 10.27 Common shareholders’ equity $7,622 $7,523 $7,402 $7,433 $7,150 $6,939 $6,865Tangible common equity 6,973 6,873 $6,752 $6,783 $6,498 $6,282 $6,198Shares of common stock outstanding (in millions) 177 178 179 180 182 188 197 Common shareholders’ equity per share of common stock $43.02 $42.18 $41.35 $41.26 $39.22 $36.86 $34.79 Tangible common equity per share of common stock 39.36 38.53 37.72 37.65 35.64 33.36 31.40 29