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): April 17, 2008

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) 969-6476

(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:

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

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

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

o 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 CONDITION AND REGULATION FD DISCLOSURE

Comerica Incorporated (“Comerica”) today released its earnings for the quarter ended March 31, 2008. 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 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

(c) Exhibits

99.1	Press Release dated April 17, 2008
99.2	Earnings 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

April 17, 2008

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated April 17, 2008
99.2	Earnings Presentation Slides

EX-99.1

Exhibit 99.1

             NEWS RELEASE

COMERICA REPORTS FIRST QUARTER 2008 EARNINGS

Loan Growth Continues in High Growth Markets
Deposit Rate Reductions and Deposit Growth Among Other Highlights
Credit Issues Focused on California Residential Real Estate Development Portfolio

DALLAS/April 17, 2008 — Comerica Incorporated (NYSE: CMA) today reported first quarter 2008 income from continuing operations of $110 million, or $0.73 per diluted share, compared to $117 million, or $0.77 per diluted share, for the fourth quarter 2007 and $189 million, or $1.19 per diluted share, for the first quarter 2007. First quarter 2008 included a $159 million provision for loan losses, compared to $108 million for the fourth quarter 2007 and $23 million for the first quarter 2007.

(dollar amounts in millions, except per share data)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income	$	476		$	489		$	502
Provision for loan losses		159			108			23
Noninterest income		237			230			203
Noninterest expenses		403			450			407
Income from continuing operations, net of tax		110			117			189
Net income		109			119			190
Diluted EPS from continuing operations		0.73			0.77			1.19
Diluted EPS from discontinued operations*		—			0.02			—
Diluted EPS		0.73			0.79			1.19
Return on average common shareholders’ equity from continuing operations		8.51	%		9.20	%		14.86	%
Return on average common shareholders’ equity		8.42			9.35			14.89
Net interest margin		3.22			3.43			3.82

* In the fourth quarter 2006, Comerica sold its stake in Munder Capital Management (Munder) and reports Munder as a discontinued operation in all periods presented.

“Despite the challenged economic environment, we remained focused on executing our strategy in the first quarter, as evidenced by good loan and deposit growth, particularly in our high-growth markets,” said Ralph W. Babb Jr., chairman and chief executive officer. “While the continued deterioration of the California residential real estate market and its effects on our residential real estate development portfolio affected our overall performance, the remainder of our loan portfolio continued to exhibit stable credit metrics.

“As expected, the net interest margin of 3.22 percent declined 21 basis points from the fourth quarter, largely due to planned securities purchases, expected loan growth in excess of core deposit growth, and the reduced contribution of noninterest-bearing funds in a lower rate environment.

“Our expenses were well controlled in the first quarter with reduced headcount, even as we continued our banking center expansion program.”

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 2

First Quarter 2008 Compared to Fourth Quarter 2007

• On an annualized basis, excluding Financial Services Division (FSD) loans, average loans increased 10 percent, with growth of 14 percent in the Texas market, 10 percent in the Western market and 9 percent in the Midwest market.

• On an annualized basis, total deposits, excluding FSD deposits and institutional certificates of deposit, increased five percent, including an increase in noninterest-bearing deposits of 12 percent. Deposit growth occurred while deposit rates were lowered. Funding sources also included $2 billion of new advances from the Federal Home Loan Bank of Dallas with a five-year term at an attractive rate.

• The net interest margin was 3.22 percent in the first quarter 2008, a decrease of 21 basis points from 3.43 percent in the fourth quarter 2007, largely due to planned securities purchases, expected loan growth in excess of core deposit growth and the reduced contribution of noninterest-bearing funds in a lower rate environment.

• Net credit-related charge-offs were $110 million, or 85 basis points as a percent of average total loans, for the first quarter 2008, compared to $64 million, or 50 basis points as a percent of average total loans, for the fourth quarter 2007. Of the first quarter charge-offs, $75 million were in the Commercial Real Estate business line, predominantly with residential real estate developers in the Western market. The remaining net charge-offs of $35 million were 31 basis points of average non-Commercial Real Estate loans. The provision for loan losses was $159 million for the first quarter 2008, compared to $108 million for the fourth quarter 2007, bringing the period-end allowance to total loans ratio to 1.16 percent from 1.10 percent at December 31, 2007.

• Noninterest income increased $7 million, and included a $21 million gain on Visa shares, with increases in investment banking fees and service charges on deposit accounts, partially offset by decreases in net income from principal investing and warrants, seasonally lower commercial lending fees, and deferred compensation asset returns (which are offset by a decrease in deferred compensation plan costs in noninterest expenses).

• Noninterest expenses decreased $47 million from the fourth quarter 2007, mostly due to the first quarter 2008 reversal of the $13 million loss sharing arrangement expense that was recorded in the fourth quarter 2007 related to membership in Visa and a $16 million decrease in salaries expense, including a decrease in deferred compensation plan costs in first quarter 2008, partially offset by an increase in share-based compensation expense.

• The estimated Tier 1 common capital ratio was 6.71 percent, within the targeted range.

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 3

Net Interest Income and Net Interest Margin

(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income	$	476		$	489		$	502
Net interest margin		3.22	%		3.43	%		3.82	%
Selected average balances:
Total earning assets	$	59,518		$	56,621		$	53,148
Total investment securities		7,222			5,533			3,745
Total loans		51,852			50,699			48,896
Total loans, excluding FSD loans (primarily low-rate)		51,050			49,758			47,327
Total interest-bearing deposits		33,440			31,834			30,417
Total noninterest-bearing deposits		10,622			10,533			12,162
Total noninterest-bearing deposits, excluding FSD		8,728			8,473			8,712

• The $13 million decrease in net interest income in the first quarter 2008, when compared to fourth quarter 2007, resulted primarily from a reduction in the net interest margin and the impact of one less day ($5 million), partially offset by growth in securities and loans.

• The net interest margin of 3.22 percent declined 21 basis points, when compared to fourth quarter 2007, reflecting the decreased contribution of noninterest-bearing funds in a lower rate environment and earning asset growth in excess of deposit growth, partially offset by deposit rate reductions.

• Securities purchases consisted of AAA-rated mortgage-backed securities issued by government sponsored enterprises (FNMA, FHLMC).

Noninterest Income

Noninterest income was $237 million for the first quarter 2008, compared to $230 million for the fourth quarter 2007 and $203 million for the first quarter 2007. Noninterest income in the first quarter 2008, compared to the fourth quarter 2007, included the $21 million gain on the sale of Visa shares (included in “net securities gains”) and increased service charges on deposit accounts ($1 million) and investment banking fees ($4 million), partially offset by decreases in seasonally lower commercial lending fees ($6 million), net income (loss) from principal investing and warrants ($10 million) and deferred compensation asset returns ($7 million, offset by a decrease in deferred compensation plan costs in noninterest expenses).

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 4

Noninterest Expenses

Noninterest expenses were $403 million for the first quarter 2008, compared to $450 million for the fourth quarter 2007 and $407 million for the first quarter 2007. The $47 million decrease in noninterest expenses in the first quarter 2008, compared to the fourth quarter 2007, reflected a $16 million decrease in salaries expense and the reversal of the $13 million Visa loss sharing arrangement expense that was recorded in the fourth quarter 2007 (included in “litigation and operational losses”). The decrease in salaries expense was primarily due to additional cost deferrals from a refinement in application of Statement of Financial Accounting Standards No. 91 — Accounting for Loan Origination Fees and Costs (FAS 91) ($11 million), a decrease in deferred compensation plan costs ($7 million) and reduced headcount, partially offset by an increase of $8 million in share-based compensation, reflecting that portion of the annual award of restricted stock which must be expensed in the period granted. Certain categories of noninterest expenses are highlighted in the table below.

	1st Qtr ’08			4th Qtr ’07		1st Qtr ’07
Salaries
Regular salaries	$	151		$	163	$	154
Severance		2			3		—
Incentives		32			36		27
Deferred compensation plan costs		(5	)		2		2
Share-based compensation		20			12		23
Total salaries		200			216		206
Employee benefits		47			48		46
Customer services		6			7		14
Litigation and operational losses		(8	)		18		3
Provision for credit losses on lending-related commitments		4			3		(2	)

Tax-related Items

The provision for income taxes reflected a benefit of $5 million resulting from an after-tax adjustment to deferred tax assets in the first quarter 2008. Fourth quarter 2007 interest on tax liabilities (classified in the “provision for income taxes”) reflected a $9 million reduction ($6 million after-tax) of interest resulting from a settlement with the Internal Revenue Service on asset depreciation.

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 5

Credit Quality

“California residential real estate developers, in particular, continued to struggle,” said Babb. “The excess inventory, declining prices and extended time to sell have had a debilitating effect on the California housing market. We are aggressively addressing this situation as the market has continued to deteriorate.”

• The allowance to loan ratio increased to 1.16 percent at March 31, 2008, from 1.10 percent at December 31, 2007.

• The provision for loan losses and loan quality reflected increased challenges primarily in residential real estate development located in both northern and southern California (Western market).

• Net loan charge-offs in the Commercial Real Estate business line in the first quarter 2008 were $75 million, of which $58 million were from residential real estate developers in the Western market. Comparable numbers for the fourth quarter 2007 were $36 million in total, of which $9 million were from residential real estate developers in the Western market. Excluding the Western market, other Commercial Real Estate net loan charge-offs in the first quarter 2008 totaled $17 million, compared to $27 million in the fourth quarter 2007. In California, the median sales price of existing single family homes declined almost 14 percent from the fourth quarter 2007 (30 percent from one year ago) and single family home building permits (trailing 12 months) declined over 10 percent (33 percent from one year ago).

• Net loan charge-offs, excluding the Commercial Real Estate business line, were $35 million in the first quarter 2008, or 31 basis points of average non-Commercial Real Estate loans, compared to $27 million in the fourth quarter 2007, or 25 basis points of average non-Commercial Real Estate loans.

(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net loan charge-offs	$	110		$	63		$	16
Net lending-related commitment charge-offs		—			1			3
Total net credit-related charge-offs		110			64			19
Net loan charge-offs/Average total loans		0.85	%		0.50	%		0.13	%
Net credit-related charge-offs/Average total loans		0.85			0.50			0.16
Provision for loan losses	$	159		$	108		$	23
Provision for credit losses on lending-related commitments		4			3			(2	)
Total provision for credit losses		163			111			21
Nonperforming assets (NPAs)		560			423			233
NPAs/Total loans and foreclosed property		1.07	%		0.83	%		0.49	%
Allowance for loan losses	$	605		$	557		$	500
Allowance for credit losses on lending-related commitments*		25			21			21
Total allowance for credit losses		630			578			521
Allowance for loan losses/Total loans		1.16	%		1.10	%		1.04	%
Allowance for loan losses/Nonperforming loans		112			138			229

* Included in “Accrued expenses and other liabilities” on the consolidated balance sheets.

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 6

Balance Sheet and Capital Management

Total assets and common shareholders’ equity were $67.0 billion and $5.3 billion, respectively, at March 31, 2008, compared to $62.3 billion and $5.1 billion, respectively, at December 31, 2007. There were approximately 151 million shares outstanding at March 31, 2008, compared to 150 million shares outstanding at December 31, 2007. No shares were repurchased in the open market in the first quarter 2008.

Comerica’s first quarter 2008 estimated Tier 1 common, Tier 1 and total risk-based capital ratios were 6.71 percent, 7.35 percent and 11.00 percent, respectively.

Full Year 2008 Outlook Compared to Full Year 2007 from Continuing Operations

• Mid single-digit average loan growth, excluding Financial Services Division loans, with low single-digit growth in the Midwest market, mid to high single-digit growth in the Western market and low double-digit growth in the Texas market.

• Average earning asset growth in excess of average loan growth, with securities averaging about $8 billion for the remainder of the year.

• Average Financial Services Division noninterest-bearing deposits of $1.7 to $1.9 billion. Financial Services Division loans will fluctuate in tandem with the level of noninterest-bearing deposits.

• Based on the federal funds rate declining to 1.75 percent by mid-year 2008, average full year net interest margin around 3.10 percent, including the effects of higher levels of securities, lower value of noninterest-bearing deposits and average loan growth exceeding average deposit growth.

• Average net credit-related charge-offs of 75-80 basis points of average loans. The provision for credit losses is expected to exceed net charge-offs.

• Low single-digit growth in noninterest income.

• Low single-digit decline in noninterest expenses.

• Effective tax rate of about 28 percent.

• Maintain a Tier 1 common capital ratio within a target range of 6.50 to 7.50 percent.

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 7

Business Segments

Comerica’s continuing operations are strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. The Finance Division also is included as a segment. The financial results below are based on the internal business unit structure of Comerica and methodologies in effect at March 31, 2008 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2008 results compared to fourth quarter 2007.

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

(dollar amounts in millions)	1st Qtr ’08					4th Qtr ’07					1st Qtr ’07
Business Bank	$	62		51	%	$	93		83	%	$	146		70	%
Retail Bank		40		33			5		5			42		20
Wealth & Institutional Management		20		16			13		12			21		10
		122		100	%		111		100	%		209		100	%
Finance		(3	)				(8	)				(12	)
Other*		(10	)				16					(7	)
Total	$	109				$	119				$	190

* Includes discontinued operations and items not directly associated with the three major business segments or the Finance Division.

Business Bank
(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income (FTE)	$	329		$	330		$	337
Provision for loan losses		147			88			14
Noninterest income		74			80			61
Noninterest expenses		176			186			170
Net income		62			93			146
Net credit-related charge-offs		99			50			14
Selected average balances:
Assets		42,129			41,327			40,059
Loans		41,219			40,285			39,015
FSD loans		802			941			1,569
Deposits		15,878			15,931			16,711
FSD deposits		2,988			3,181			4,698
Net interest margin		3.20	%		3.25	%		3.50	%

• Average loans, excluding the Financial Services Division, increased $1.1 billion, or 11 percent on an annualized basis, driven by growth in Global Corporate, Middle Market, Energy and National Dealer Services.

• Average deposits, excluding the Financial Services Division, increased $140 million, or 4 percent on an annualized basis, due to growth in Middle Market, Global Corporate and Technology and Life Sciences, partially offset by decreases in Commercial Real Estate and International.

• The net interest margin of 3.20 percent decreased five basis points primarily due to the impact from the Financial Services Division of lower deposit balances and lower value of noninterest-bearing deposits in a lower rate environment.

• The provision for loan losses increased $59 million primarily due to continuing challenges in Commercial Real Estate (residential real estate developers in the Western market), and changes in Middle Market, including the effect of a benefit recognized in the fourth quarter 2007 in automotive supplier reserves and a single Florida Middle Market customer default.

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 8

• Noninterest income decreased $6 million primarily due to a decrease in principal investing and warrant income and lower commercial lending fees, partially offset by an increase in investment banking fees.

• Noninterest expenses declined $10 million, primarily due to a decrease in salaries expense related to the refinement in application of FAS 91 and a decline in customer service expenses.

Retail Bank
(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income (FTE)	$	148		$	161		$	170
Provision for loan losses		17			26			5
Noninterest income		74			55			52
Noninterest expenses		143			182			153
Net income		40			5			42
Net credit-related charge-offs		10			14			5
Selected average balances:
Assets		7,144			6,998			6,840
Loans		6,276			6,229			6,095
Deposits		17,162			17,254			17,032
Net interest margin		3.47	%		3.69	%		4.04	%

• Average loans increased $47 million, or three percent on an annualized basis, as a result of growth in Small Business.

• Average deposits decreased $92 million, primarily due to decreases in noninterest-bearing deposits and time deposits, partially offset by an increase in NOW accounts.

• The net interest margin of 3.47 percent decreased 22 basis points, primarily due to a decline in deposit spreads resulting from changes in the deposit mix.

• The provision for loan losses decreased $9 million, primarily in Small Business Banking, including SBA loans, from the fourth quarter 2007.

• Noninterest income increased $19 million, primarily due to the $21 million gain on Visa shares.

• Noninterest expenses decreased $39 million, primarily due to the first quarter 2008 reversal of the $13 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007 and lower salaries expense related to the refinement in application of FAS 91.

• Three new banking centers were opened in the first quarter 2008 in the Western market.

Wealth and Institutional Management
(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income (FTE)	$	36		$	36		$	37
Provision for loan losses		—			1			(1	)
Noninterest income		75			72			71
Noninterest expenses		79			86			76
Net income		20			13			21
Net credit-related charge-offs		1			—			—
Selected average balances:
Assets		4,468			4,321			3,898
Loans		4,315			4,146			3,747
Deposits		2,637			2,552			2,317
Net interest margin		3.33	%		3.43	%		3.92	%

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 9

• Average loans increased $169 million, or 16 percent on an annualized basis.

• Average deposits increased $85 million, or 13 percent on an annualized basis.

• The net interest margin of 3.33 percent declined 10 basis points, primarily due to a decline in deposit spreads resulting from changes in the deposit mix.

• Noninterest income increased $3 million, partially due to an increase in customer derivative income.

• Noninterest expenses decreased $7 million, partially due to decreases in salaries and employee benefits and litigation and operational losses.

Geographic Market Segments

Comerica also provides market segment results for four primary geographic markets: Midwest, Western, Texas and Florida. In addition to the four primary geographic markets, Other Markets and International are also reported as market segments. The financial results below are based on methodologies in effect at March 31, 2008 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2008 results compared to fourth quarter 2007.

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

(dollar amounts in millions)	1st Qtr ’08					4th Qtr ’07					1st Qtr ’07
Midwest	$	87		71	%	$	59		53	%	$	79		39	%
Western		(10	)	(8	)		(2	)	(2	)		73		35
Texas		20		16			14		13			23		11
Florida		(4	)	(3	)		(1	)	(1	)		3		1
Other Markets		19		15			30		27			22		10
International		10		9			11		10			9		4
		122		100	%		111		100	%		209		100	%
Finance & Other*		(13	)				8					(19	)
Total	$	109				$	119				$	190

* Includes discontinued operations and items not directly associated with the geographic markets.

Midwest
(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income (FTE)	$	205		$	212		$	227
Provision for loan losses		20			21			27
Noninterest income		136			120			115
Noninterest expenses		186			218			194
Net income		87			59			79
Net credit-related charge-offs		28			37			21
Selected average balances:
Assets		19,656			19,228			19,180
Loans		19,030			18,601			18,614
Deposits		16,127			16,117			15,868
Net interest margin		4.30	%		4.50	%		4.93	%

• Average loans increased $429 million, or nine percent on an annualized basis, primarily due to increases in the Global Corporate and National Dealer Services.

• Average deposits increased $10 million, as increases in Global Corporate and Personal Banking were offset by a decline in Small Business Banking.

• The net interest margin of 4.30 percent declined 20 basis points, primarily due to a decline in deposit spreads resulting from changes in the deposit mix, partially offset by an increase in loan spreads.

• The provision for loan losses was relatively unchanged, with improved Commercial Real Estate offset by changes in Middle Market, including the effect of a benefit recognized in the fourth quarter 2007 in automotive supplier reserves.

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 10

• Noninterest income increased $16 million, due to the $17 million gain on Visa shares.

• Noninterest expenses decreased $32 million, primarily due to the first quarter 2008 reversal of the $10 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007 and lower salaries expense related to the refinement in application of FAS 91.

Western Market
(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income (FTE)	$	172		$	178		$	188
Provision for loan losses		114			92			(12	)
Noninterest income		33			35			27
Noninterest expenses		108			121			111
Net income (loss)		(10	)		(2	)		73
Net credit-related charge-offs		66			23			(5	)
Selected average balances:
Assets		17,263			17,137			16,782
Loans		16,882			16,615			16,241
FSD loans		802			941			1,569
Deposits		12,848			13,012			13,696
FSD deposits		2,802			3,045			4,515
Net interest margin		4.07	%		4.24	%		4.69	%

• Excluding the Financial Services Division, average loans increased $406 million, or 10 percent on an annualized basis, primarily due to growth in the Middle Market, Global Corporate and Technology and Life Sciences lines of business.

• Excluding the Financial Services Division, average deposits increased $79 million, or three percent on an annualized basis, primarily due to growth in Middle Market.

• The net interest margin of 4.07 percent declined 17 basis points due to the impact from the Financial Services Division of lower deposit balances and lower value of noninterest-bearing deposits in a lower rate environment.

• The provision for loan losses increased $22 million, primarily due to continuing challenges in Commercial Real Estate (residential real estate developers).

• Noninterest income decreased $2 million, primarily due to a decrease in principal investing and warrant income, partially offset by the $1 million gain on Visa shares.

• Noninterest expenses decreased $13 million, primarily due to a decrease in salaries and benefits expense, in part resulting from the refinement in application of FAS 91 and customer service expenses, and the first quarter 2008 reversal of the $1 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007.

• Three new banking centers were opened in the first quarter 2008.

Texas Market
(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income (FTE)	$	74		$	74		$	69
Provision for loan losses		8			7			—
Noninterest income		24			23			19
Noninterest expenses		58			67			53
Net income		20			14			23
Total net credit-related charge-offs		5			3			3
Selected average balances:
Assets		7,932			7,677			6,719
Loans		7,642			7,381			6,444
Deposits		4,005			3,935			3,843
Net interest margin		3.83	%		3.95	%		4.31	%

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 11

• Average loans increased $261 million, or 14 percent on an annualized basis, primarily due to growth in Energy, Middle Market and Commercial Real Estate.

• Excluding the Financial Services Division, average deposits increased $19 million, or two percent on an annualized basis.

• The net interest margin of 3.83 percent decreased 12 basis points primarily due to deposit spreads resulting from changes in the deposit mix.

• Noninterest income increased $1 million, primarily due to the $3 million gain on Visa shares.

• Noninterest expenses decreased $9 million, primarily due to the first quarter 2008 reversal of the $2 million Visa loss sharing arrangement expense recorded in the fourth quarter 2007 and a decrease in salaries expense related to the refinement in application of FAS 91.

Florida Market

(dollar amounts in millions)	1st Qtr ’08			4th Qtr ’07			1st Qtr ’07
Net interest income (FTE)	$	11		$	11		$	11
Provision for loan losses		12			5			1
Noninterest income		5			4			4
Noninterest expenses		10			11			9
Net income (loss)		(4	)		(1	)		3
Net credit-related charge-offs		10			—			—
Selected average balances:
Assets		1,891			1,732			1,646
Loans		1,877			1,719			1,626
Deposits		362			299			284
Net interest margin		2.55	%		2.67	%		2.80	%

• Average loans increased $158 million, primarily due to a transfer of Florida loans previously serviced from the Texas market.

• Average deposits increased $63 million, primarily due to growth in Private Banking.

• The provision for loan losses increased $7 million, primarily due to a single Middle Market customer.

Conference Call and Webcast

Comerica will host a conference call to review first quarter 2008 financial results at 7 a.m. CDT on Thursday, April 17, 2008. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679- 5261 (event ID No. 39966204). The call and supplemental financial information can also be accessed on the Internet at www.comerica.com. A replay will be available approximately two hours following the conference call until May 1, 2008. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 39966204). A replay of the Webcast can also be accessed on the Internet 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 & Institutional 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, China and Mexico.

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COMERICA REPORTS FIRST QUARTER 2008 EARNINGS — 12

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,” “feels,” “expects,” “estimates,” “seeks,” “strives,” “plans,” “intends,” “outlook,” “forecast,” “position,” “target,” “mission,” “assume,” “achievable,” “potential,” “strategy,” “goal,” “aspiration,” “outcome,” “continue,” “remain,” “maintain,” “trend,” “objective” 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 the pace of an economic recovery and related changes in employment levels, changes related to the headquarters relocation or to its underlying assumptions, the effects of war and other armed conflicts or acts of terrorism, the effects of natural disasters including, but not limited to, hurricanes, tornadoes, earthquakes and floods, the disruption of private or public utilities, the implementation of Comerica’s strategies and business models, management’s ability to maintain and expand customer relationships, changes in customer borrowing, repayment, investment and deposit practices, management’s ability to retain key officers and employees, changes in the accounting treatment of any particular item, the impact of regulatory examinations, declines or other changes in the businesses or industries in which Comerica has a concentration of loans, including, but not limited to, the automotive production industry and the real estate business lines, the anticipated performance of any new banking centers, the entry of new competitors in Comerica’s markets, changes in the level of fee income, changes in applicable laws and regulations, including those concerning taxes, banking, securities and insurance, changes in trade, monetary and fiscal policies, including the interest rate policies of the Board of Governors of the Federal Reserve System, fluctuations in inflation or interest rates, changes in general economic, political or industry conditions and related credit and market conditions, and adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. 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	(313) 222-2840
	Paul Jaremski (214) 969-6476

CONSOLIDATED FINANCIAL HIGHLIGHTS
Comerica Incorporated and Subsidiaries

	Three Months Ended
	March 31,			December 31,			March 31,
(in millions, except per share data)	2008			2007			2007
PER SHARE AND COMMON STOCK DATA
Diluted income from continuing operations	$	0.73		$	0.77		$	1.19
Diluted net income		0.73			0.79			1.19
Cash dividends declared		0.66			0.64			0.64
Common shareholders’ equity (at period end)		34.93			34.12			32.78
Average diluted shares (in thousands)		150,734			150,943			158,915
KEY RATIOS
Return on average common shareholders’ equity from continuing operations		8.51	%		9.20	%		14.86	%
Return on average common shareholders’ equity		8.42			9.35			14.89
Return on average assets from continuing operations		0.69			0.77			1.33
Return on average assets		0.68			0.79			1.33
Average common shareholders’ equity as a percentage of average assets		8.12			8.41			8.92
Tier 1 common capital ratio *		6.71			6.85			7.49
Tier 1 risk-based capital ratio *		7.35			7.51			8.19
Total risk-based capital ratio *		11.00			11.20			12.15
Leverage ratio *		8.86			9.26			10.00
AVERAGE BALANCES
Commercial loans	$	29,178		$	28,393		$	27,757
Real estate construction loans		4,811			4,846			4,249
Commercial mortgage loans		10,142			9,941			9,673
Residential mortgage loans		1,916			1,891			1,705
Consumer loans		2,449			2,412			2,405
Lease financing		1,347			1,327			1,273
International loans		2,009			1,889			1,834
Total loans		51,852			50,699			48,896
Earning assets		59,518			56,621			53,148
Total assets		63,927			60,507			57,088
Interest-bearing deposits		33,440			31,834			30,417
Total interest-bearing liabilities		46,793			43,574			38,498
Noninterest-bearing deposits		10,622			10,533			12,162
Common shareholders’ equity		5,192			5,087			5,092
NET INTEREST INCOME
Net interest income (fully taxable equivalent basis)	$	477		$	489		$	503
Fully taxable equivalent adjustment		1			—			1
Net interest margin		3.22	%		3.43	%		3.82	%
CREDIT QUALITY
Nonaccrual loans	$	538		$	391		$	218
Reduced-rate loans		—			13			—
Total nonperforming loans		538			404			218
Foreclosed property		22			19			15
Total nonperforming assets		560			423			233
Loans past due 90 days or more and still accruing		80			54			15
Gross loan charge-offs		116			72			34
Loan recoveries		6			9			18
Net loan charge-offs		110			63			16
Lending-related commitment charge-offs		—			1			3
Total net credit-related charge-offs		110			64			19
Allowance for loan losses		605			557			500
Allowance for credit losses on lending-related commitments		25			21			21
Total allowance for credit losses		630			578			521
Allowance for loan losses as a percentage of total loans		1.16	%		1.10	%		1.04	%
Net loan charge-offs as a percentage of average total loans		0.85			0.50			0.13
Net credit-related charge-offs as a percentage of average total loans		0.85			0.50			0.16
Nonperforming assets as a percentage of total loans and foreclosed property		1.07			0.83			0.49
Allowance for loan losses as a percentage of total nonperforming loans		112			138			229

* March 31, 2008 ratios are estimated

-13-

CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries

	March 31,			December 31,			March 31,
(in millions, except share data)	2008			2007			2007
ASSETS
Cash and due from banks	$	1,929		$	1,440		$	1,334
Federal funds sold and securities purchased under agreements to resell		45			36			1,457
Other short-term investments		356			373			220
Investment securities available-for-sale		8,563			6,296			3,989
Commercial loans		29,475			28,223			26,681
Real estate construction loans		4,769			4,816			4,462
Commercial mortgage loans		10,359			10,048			9,592
Residential mortgage loans		1,926			1,915			1,741
Consumer loans		2,448			2,464			2,392
Lease financing		1,341			1,351			1,273
International loans		2,034			1,926			1,848
Total loans		52,352			50,743			47,989
Less allowance for loan losses		(605	)		(557	)		(500	)
Net loans		51,747			50,186			47,489
Premises and equipment		670			650			596
Customers’ liability on acceptances outstanding		28			48			55
Accrued income and other assets		3,679			3,302			2,387
Total assets	$	67,017		$	62,331		$	57,527
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	12,792		$	11,920		$	13,584
Money market and NOW deposits		15,601			15,261			14,815
Savings deposits		1,408			1,325			1,410
Customer certificates of deposit		8,191			8,357			7,447
Institutional certificates of deposit		7,752			6,147			5,679
Foreign office time deposits		1,075			1,268			735
Total interest-bearing deposits		34,027			32,358			30,086
Total deposits		46,819			44,278			43,670
Short-term borrowings		2,434			2,807			329
Acceptances outstanding		28			48			55
Accrued expenses and other liabilities		1,679			1,260			1,214
Medium- and long-term debt		10,800			8,821			7,148
Total liabilities		61,760			57,214			52,416
Common stock — $5 par value:
Authorized - 325,000,000 shares
Issued — 178,735,252 shares at 3/31/08, 12/31/07 and 3/31/07		894			894			894
Capital surplus		565			564			524
Accumulated other comprehensive loss		(67	)		(177	)		(284	)
Retained earnings		5,496			5,497			5,302
Less cost of common stock in treasury — 28,233,996 shares at 3/31/08, 28,747,097 shares at 12/31/07 and 22,834,368 shares at 3/31/07		(1,631	)		(1,661	)		(1,325	)
Total shareholders’ equity		5,257			5,117			5,111
Total liabilities and shareholders’ equity	$	67,017		$	62,331		$	57,527

-14-

CONSOLIDATED STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	Three Months Ended
	March 31,
(in millions, except per share data)	2008			2007
INTEREST INCOME
Interest and fees on loans	$	770		$	851
Interest on investment securities		88			42
Interest on short-term investments		5			8
Total interest income		863			901
INTEREST EXPENSE
Interest on deposits		253			286
Interest on short-term borrowings		29			22
Interest on medium- and long-term debt		105			91
Total interest expense		387			399
Net interest income		476			502
Provision for loan losses		159			23
Net interest income after provision for loan losses		317			479
NONINTEREST INCOME
Service charges on deposit accounts		58			54
Fiduciary income		52			49
Commercial lending fees		17			16
Letter of credit fees		15			16
Foreign exchange income		10			9
Brokerage fees		10			11
Card fees		14			12
Bank-owned life insurance		10			10
Net securities gains		22			—
Net gain on sales of businesses		—			1
Other noninterest income		29			25
Total noninterest income		237			203
NONINTEREST EXPENSES
Salaries		200			206
Employee benefits		47			46
Total salaries and employee benefits		247			252
Net occupancy expense		38			35
Equipment expense		15			15
Outside processing fee expense		23			20
Software expense		19			15
Customer services		6			14
Litigation and operational losses		(8	)		3
Provision for credit losses on lending-related commitments		4			(2	)
Other noninterest expenses		59			55
Total noninterest expenses		403			407
Income from continuing operations before income taxes		151			275
Provision for income taxes		41			86
Income from continuing operations		110			189
Income (loss) from discontinued operations, net of tax		(1	)		1
NET INCOME	$	109		$	190
Basic earnings per common share:
Income from continuing operations	$	0.74		$	1.21
Net income		0.73			1.21
Diluted earnings per common share:
Income from continuing operations		0.73			1.19
Net income		0.73			1.19
Cash dividends declared on common stock		99			101
Dividends per common share		0.66			0.64

-15-

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	First			Fourth		Third		Second			First			First Quarter 2008 Compared To:
	Quarter			Quarter		Quarter		Quarter			Quarter			Fourth Quarter 2007						First Quarter 2007
(in millions, except per share data)	2008			2007		2007		2007			2007			Amount			Percent			Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	770		$	873	$	895	$	882		$	851		$	(103	)		(11.7	)%	$	(81	)		(9.6	)
Interest on investment securities		88			66		52		46			42			22			33.2			46			N/M
Interest on short-term investments		5			5		5		5			8			—			(11.5	)		(3	)		(39.7	)
Total interest income		863			944		952		933			901			(81	)		(8.6	)		(38	)		(4.2	)
INTEREST EXPENSE
Interest on deposits		253			303		294		284			286			(50	)		(16.3	)		(33	)		(11.5	)
Interest on short-term borrowings		29			30		29		24			22			(1	)		(4.7	)		7			31.5
Interest on medium- and long-term debt		105			122		126		116			91			(17	)		(14.8	)		14			15.1
Total interest expense		387			455		449		424			399			(68	)		(15.1	)		(12	)		(3.1	)
Net interest income		476			489		503		509			502			(13	)		(2.5	)		(26	)		(5.1	)
Provision for loan losses		159			108		45		36			23			51			47.2			136			N/M
Net interest income after provision for loan losses		317			381		458		473			479			(64	)		(16.6	)		(162	)		(33.8	)
NONINTEREST INCOME
Service charges on deposit accounts		58			57		55		55			54			1			1.2			4			8.7
Fiduciary income		52			52		49		49			49			—			0.4			3			5.1
Commercial lending fees		17			23		19		17			16			(6	)		(28.2	)		1			2.3
Letter of credit fees		15			16		16		15			16			(1	)		(4.8	)		(1	)		(4.6	)
Foreign exchange income		10			10		11		10			9			—			(1.2	)		1			9.2
Brokerage fees		10			11		11		10			11			(1	)		(5.7	)		(1	)		(5.1	)
Card fees		14			14		14		14			12			—			(0.1	)		2			16.4
Bank-owned life insurance		10			9		8		9			10			1			11.6			—			2.8
Net securities gains		22			3		4		—			—			19			N/M			22			N/M
Net gain on sales of businesses		—			—		—		2			1			—			N/M			(1	)		N/M
Other noninterest income		29			35		43		44			25			(6	)		(18.5	)		4			16.7
Total noninterest income		237			230		230		225			203			7			2.8			34			17.0
NONINTEREST EXPENSES
Salaries		200			216		207		215			206			(16	)		(7.5	)		(6	)		(2.7	)
Employee benefits		47			48		49		50			46			(1	)		(1.0	)		1			2.6
Total salaries and employee benefits		247			264		256		265			252			(17	)		(6.4	)		(5	)		(1.8	)
Net occupancy expense		38			36		34		33			35			2			6.3			3			8.5
Equipment expense		15			15		15		15			15			—			1.5			—			5.1
Outside processing fee expense		23			24		23		24			20			(1	)		(5.4	)		3			13.5
Software expense		19			17		16		15			15			2			10.3			4			22.5
Customer services		6			7		11		11			14			(1	)		(21.3	)		(8	)		(58.5	)
Litigation and operational losses		(8	)		18		6		(9	)		3			(26	)		N/M			(11	)		N/M
Provision for credit losses on lending-related commitments		4			3		—		(2	)		(2	)		1			18.6			6			N/M
Other noninterest expenses		59			66		62		59			55			(7	)		(8.7	)		4			8.9
Total noninterest expenses		403			450		423		411			407			(47	)		(10.4	)		(4	)		(0.9	)
Income from continuing operations before income taxes		151			161		265		287			275			(10	)		(6.0	)		(124	)		(44.9	)
Provision for income taxes		41			44		85		91			86			(3	)		(7.2	)		(45	)		(52.3	)
Income from continuing operations		110			117		180		196			189			(7	)		(5.6	)		(79	)		(41.6	)
Income (loss) from discontinued operations, net of tax		(1	)		2		1		—			1			(3	)		N/M			(2	)		N/M
NET INCOME	$	109		$	119	$	181	$	196		$	190		$	(10	)		(8.1	)%	$	(81	)		(42.3	)
Basic earnings per common share:
Income from continuing operations	$	0.74		$	0.78	$	1.18	$	1.28		$	1.21		$	(0.04	)		(5.1	)%	$	(0.47	)		(38.8	)
Net income		0.73			0.80		1.20		1.28			1.21			(0.07	)		(8.8	)		(0.48	)		(39.7	)
Diluted earnings per common share:
Income from continuing operations		0.73			0.77		1.17		1.25			1.19			(0.04	)		(5.2	)		(0.46	)		(38.7	)
Net income		0.73			0.79		1.18		1.25			1.19			(0.06	)		(7.6	)		(0.46	)		(38.7	)
Cash dividends declared on common stock		99			97		97		98			101			2			3.4			(2	)		(0.9	)
Dividends per common share		0.66			0.64		0.64		0.64			0.64			0.02			3.1			0.02			3.1

N/M — Not meaningful

-16-

ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
Comerica Incorporated and Subsidiaries

	2008			2007
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Balance at beginning of period	$	557		$	512		$	507		$	500		$	493
Loan charge-offs:
Commercial		33			27			30			19			13
Real estate construction:
Commercial Real Estate business line		66			24			6			6			1
Other business lines		1			1			2			2			—
Total real estate construction		67			25			8			8			1
Commercial mortgage:
Commercial Real Estate business line		6			7			2			3			3
Other business lines		2			9			4			10			14
Total commercial mortgage		8			16			6			13			17
Residential mortgage		—			—			—			—			—
Consumer		7			4			3			3			3
Lease financing		—			—			—			—			—
International		1			—			—			—			—
Total loan charge-offs		116			72			47			43			34
Recoveries on loans previously charged-off:
Commercial		3			7			5			5			10
Real estate construction		1			—			—			—			—
Commercial mortgage		1			1			1			2			—
Residential mortgage		—			—			—			—			—
Consumer		1			1			1			1			1
Lease financing		—			—			—			—			4
International		—			—			—			5			3
Total recoveries		6			9			7			13			18
Net loan charge-offs		110			63			40			30			16
Provision for loan losses		159			108			45			36			23
Foreign currency translation adjustment		(1	)		—			—			1			—
Balance at end of period	$	605		$	557		$	512		$	507		$	500
Allowance for loan losses as a percentage of total loans		1.16	%		1.10	%		1.03	%		1.04	%		1.04	%
Net loan charge-offs as a percentage of average total loans		0.85			0.50			0.32			0.24			0.13
Net credit-related charge-offs as a percentage of average total loans		0.85			0.50			0.32			0.24			0.16

ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS
Comerica Incorporated and Subsidiaries

	2008		2007
(in millions)	1st Qtr		4th Qtr		3rd Qtr		2nd Qtr			1st Qtr
Balance at beginning of period	$	21	$	19	$	19	$	21		$	26
Less: Charge-offs on lending-related commitments (1)		—		1		—		—			3
Add: Provision for credit losses on lending-related commitments		4		3		—		(2	)		(2	)
Balance at end of period	$	25	$	21	$	19	$	19		$	21
Unfunded lending-related commitments sold	$	3	$	22	$	—	$	—		$	60

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

-17-

NONPERFORMING ASSETS
Comerica Incorporated and Subsidiaries

	2008			2007
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS
Nonaccrual loans:
Commercial	$	87		$	75		$	64		$	88		$	73
Real estate construction:
Commercial Real Estate business line		309			161			55			37			21
Other business lines		4			6			4			7			4
Total real estate construction		313			167			59			44			25
Commercial mortgage:
Commercial Real Estate business line		67			66			63			20			17
Other business lines		64			75			77			84			84
Total commercial mortgage		131			141			140			104			101
Residential mortgage		1			1			1			1			1
Consumer		3			3			4			3			4
Lease financing		—			—			—			—			4
International		3			4			4			4			10
Total nonaccrual loans		538			391			272			244			218
Reduced-rate loans		—			13			—			—			—
Total nonperforming loans		538			404			272			244			218
Foreclosed property		22			19			19			15			15
Total nonperforming assets	$	560		$	423		$	291		$	259		$	233
Nonperforming loans as a percentage of total loans		1.03	%		0.80	%		0.55	%		0.50	%		0.45	%
Nonperforming assets as a percentage of total loans and foreclosed property		1.07			0.83			0.59			0.53			0.49
Allowance for loan losses as a percentage of total nonperforming loans		112			138			188			207			229
Loans past due 90 days or more and still accruing	$	80		$	54		$	56		$	29		$	15
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	391		$	272		$	244		$	218		$	214
Loans transferred to nonaccrual (1)		281			185			94			107			69
Nonaccrual business loan gross charge-offs (2)		(108	)		(68	)		(44	)		(40	)		(31	)
Loans transferred to accrual status (1)		—			—			(5	)		(8	)		—
Nonaccrual business loans sold (3)		(15	)		—			(11	)		—			(4	)
Payments/Other (4)		(11	)		2			(6	)		(33	)		(30	)
Nonaccrual loans at end of period	$	538		$	391		$	272		$	244		$	218
(1) Based on an analysis of nonaccrual loans with book balances greater than $2 million.
(2) Analysis of gross loan charge-offs:
Nonaccrual business loans	$	108		$	68		$	44		$	40		$	31
Performing watch list loans		1			—			—			—			—
Consumer and residential mortgage loans		7			4			3			3			3
Total gross loan charge-offs	$	116		$	72		$	47		$	43		$	34
(3) Analysis of loans sold:
Nonaccrual business loans	$	15		$	—		$	11		$	—		$	4
Performing watch list loans		6			13			—			—			—
Total loans sold	$	21		$	13		$	11		$	—		$	4

(4) Includes net changes related to nonaccrual loans with balances less than $2 million, other than business loan gross charge-offs and nonaccrual loans sold, and payments on nonaccrual loans with book balances greater than $2 million.

-18-

ANALYSIS OF NET INTEREST INCOME (FTE)
Comerica Incorporated and Subsidiaries

	Three Months Ended
	March 31, 2008								December 31, 2007									March 31, 2007
	Average					Average			Average						Average			Average						Average
(dollar amounts in millions)	Balance			Interest		Rate			Balance			Interest			Rate			Balance			Interest			Rate
Commercial loans (1) (2)	$	29,178		$	429		5.93	%	$	28,393		$	500			7.00	%	$	27,757		$	499			7.30	%
Real estate construction loans		4,811			71		5.92			4,846			92			7.48			4,249			91			8.66
Commercial mortgage loans		10,142			159		6.29			9,941			175			7.01			9,673			175			7.35
Residential mortgage loans		1,916			29		6.01			1,891			29			6.16			1,705			26			6.11
Consumer loans		2,449			37		6.02			2,412			41			6.64			2,405			43			7.14
Lease financing		1,347			11		3.22			1,327			8			2.41			1,273			10			3.18
International loans		2,009			30		6.01			1,889			34			7.03			1,834			32			7.07
Business loan swap income (expense)		—			5		—			—			(6	)		—			—			(24	)		—
Total loans(2)		51,852			771		5.98			50,699			873			6.84			48,896			852			7.06
Investment securities available-for-sale		7,222			88		4.93			5,533			66			4.76			3,745			42			4.35
Federal funds sold and securities purchased under agreements to resell		80			1		3.28			90			1			4.79			276			4			5.39
Other short-term investments		364			4		4.34			299			4			5.44			231			4			6.79
Total earning assets		59,518			864		5.84			56,621			944			6.62			53,148			902			6.86
Cash and due from banks		1,240								1,241									1,480
Allowance for loan losses		(596	)							(541	)								(503	)
Accrued income and other assets		3,765								3,186									2,963
Total assets	$	63,927							$	60,507								$	57,088
Money market and NOW deposits (1)	$	15,341			79		2.06		$	15,174			116			3.03		$	14,749			111			3.05
Savings deposits		1,359			2		0.64			1,374			4			1.00			1,381			3			0.85
Customer certificates of deposit		8,286			84		4.07			8,229			92			4.44			7,345			80			4.44
Institutional certificates of deposit		7,257			77		4.28			5,779			76			5.22			5,823			78			5.44
Foreign office time deposits		1,197			11		3.81			1,278			15			4.69			1,119			14			4.96
Total interest-bearing deposits		33,440			253		3.05			31,834			303			3.77			30,417			286			3.81
Short-term borrowings		3,497			29		3.28			2,560			30			4.64			1,655			22			5.32
Medium- and long-term debt		9,856			105		4.27			9,180			122			5.31			6,426			91			5.74
Total interest-bearing sources		46,793			387		3.32			43,574			455			4.15			38,498			399			4.20
Noninterest-bearing deposits (1)		10,622								10,533									12,162
Accrued expenses and other liabilities		1,320								1,313									1,336
Shareholders’ equity		5,192								5,087									5,092
Total liabilities and shareholders’ equity	$	63,927							$	60,507								$	57,088
Net interest income/rate spread (FTE)				$	477		2.52					$	489			2.47					$	503			2.66
FTE adjustment				$	1							$	—								$	1
Impact of net noninterest-bearing sources of funds							0.70									0.96									1.16
Net interest margin (as a percentage of average earning assets) (FTE) (2)							3.22	%								3.43	%								3.82	%
(1) FSD balances included above:
Loans (primarily low-rate)	$	802		$	2		1.12	%	$	941		$	2			0.98	%	$	1,569		$	3			0.68	%
Interest-bearing deposits		1,094			8		2.77			1,121			11			3.78			1,248			12			3.91
Noninterest-bearing deposits		1,894								2,060									3,450
(2) Impact of FSD loans (primarily low-rate) on the following:
Commercial loans							(0.13	)%								(0.21	)%								(0.40	)%
Total loans							(0.08	)								(0.11	)								(0.22	)
Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits)							(0.03	)								(0.04	)								(0.11	)

-19-

CONSOLIDATED STATISTICAL DATA
Comerica Incorporated and Subsidiaries

	March 31,			December 31,			September 30,			June 30,			March 31,
(in millions, except per share data)	2008			2007			2007			2007			2007
Commercial loans:
Floor plan	$	2,913		$	2,878		$	2,601		$	3,012		$	2,970
Other		26,562			25,345			24,791			24,134			23,711
Total commercial loans		29,475			28,223			27,392			27,146			26,681
Real estate construction loans:
Commercial Real Estate business line		4,113			4,089			4,007			3,777			3,708
Other business lines		656			727			752			736			754
Total real estate construction loans		4,769			4,816			4,759			4,513			4,462
Commercial mortgage loans:
Commercial Real Estate business line		1,418			1,377			1,467			1,344			1,286
Other business lines		8,941			8,671			8,527			8,384			8,306
Total commercial mortgage loans		10,359			10,048			9,994			9,728			9,592
Residential mortgage loans		1,926			1,915			1,892			1,839			1,741
Consumer loans:
Home equity		1,619			1,616			1,582			1,585			1,570
Other consumer		829			848			815			736			822
Total consumer loans		2,448			2,464			2,397			2,321			2,392
Lease financing		1,341			1,351			1,319			1,314			1,273
International loans		2,034			1,926			1,843			1,904			1,848
Total loans	$	52,352		$	50,743		$	49,596		$	48,765		$	47,989
Goodwill	$	150		$	150		$	150		$	150		$	150
Loan servicing rights		12			12			13			13			14
Tier 1 common capital ratio*		6.71	%		6.85	%		7.01	%		7.18	%		7.49	%
Tier 1 risk-based capital ratio*		7.35			7.51			7.68			7.87			8.19
Total risk-based capital ratio *		11.00			11.20			11.44			11.71			12.15
Leverage ratio*		8.86			9.26			9.60			9.68			10.00
Book value per share	$	34.93		$	34.12		$	33.56		$	32.74		$	32.78
Market value per share for the quarter:
High	$	45.19		$	54.88		$	61.34		$	63.89		$	63.39
Low		34.51			39.62			50.26			58.18			56.77
Close		35.08			43.53			51.28			59.47			59.12
Quarterly ratios:
Return on average common shareholders’ equity from continuing operations		8.51	%		9.20	%		14.27	%		15.44	%		14.86	%
Return on average common shareholders’ equity		8.42			9.35			14.41			15.44			14.89
Return on average assets from continuing operations		0.69			0.77			1.22			1.35			1.33
Return on average assets		0.68			0.79			1.23			1.35			1.33
Efficiency ratio		58.25			62.76			58.00			55.97			57.66
Number of banking centers		420			417			403			402			402
Number of employees — full time equivalent		10,643			10,782			10,683			10,687			10,661

* March 31, 2008 ratios are estimated

-20-

PARENT COMPANY ONLY BALANCE SHEETS
Comerica Incorporated

	March 31,			December 31,			March 31,
(in millions, except share data)	2008			2007			2007
ASSETS
Cash and due from subsidiary bank	$	119		$	1		$	—
Short-term investments with subsidiary bank		120			224			462
Other short-term investments		103			102			97
Investment in subsidiaries, principally banks		5,965			5,840			5,599
Premises and equipment		3			4			3
Other assets		187			166			167
Total assets	$	6,497		$	6,337		$	6,328
LIABILITIES AND SHAREHOLDERS’ EQUITY
Medium- and long-term debt	$	981		$	968		$	956
Other liabilities		259			252			261
Total liabilities		1,240			1,220			1,217
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 3/31/08, 12/31/07, and 3/31/07		894			894			894
Capital surplus		565			564			524
Accumulated other comprehensive loss		(67	)		(177	)		(284	)
Retained earnings		5,496			5,497			5,302
Less cost of common stock in treasury — 28,233,996 shares at 3/31/08, 28,747,097 shares at 12/31/07 and 22,834,368 shares at 3/31/07		(1,631	)		(1,661	)		(1,325	)
Total shareholders’ equity		5,257			5,117			5,111
Total liabilities and shareholders’ equity	$	6,497		$	6,337		$	6,328

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Comerica Incorporated and Subsidiaries

									Accumulated
									Other									Total
	Common Stock					Capital			Comprehensive			Retained			Treasury			Shareholders’
(in millions, except per share data)	In Shares			Amount		Surplus			Loss			Earnings			Stock			Equity
BALANCE AT JANUARY 1, 2007		157.6		$	894	$	520		$	(324	)	$	5,230		$	(1,219	)	$	5,101
Net income		—			—		—			—			190			—			190
Other comprehensive income, net of tax		—			—		—			40			—			—			40
Total comprehensive income																			230
Cash dividends declared on common stock ($0.64 per share)		—			—		—			—			(101	)		—			(101	)
Purchase of common stock		(3.5	)		—		—			—			—			(208	)		(208	)
Net issuance of common stock under employee stock plans		1.8			—		(20	)		—			(17	)		103			66
Recognition of share-based compensation expense		—			—		23			—			—			—			23
Employee deferred compensation obligations		—			—		1			—			—			(1	)		—
BALANCE AT MARCH 31, 2007		155.9		$	894	$	524		$	(284	)	$	5,302		$	(1,325	)	$	5,111
BALANCE AT JANUARY 1, 2008		150.0		$	894	$	564		$	(177	)	$	5,497		$	(1,661	)	$	5,117
Net income		—			—		—			—			109			—			109
Other comprehensive income, net of tax		—			—		—			110			—			—			110
Total comprehensive income		—			—		—			—			—			—			219
Cash dividends declared on common stock ($0.66 per share)		—			—		—			—			(99	)		—			(99	)
Net issuance of common stock under employee stock plans		0.5			—		(20	)		—			(11	)		31			—
Recognition of share-based compensation expense		—			—		20			—			—			—			20
Employee deferred compensation obligations		—			—		1			—			—			(1	)		—
BALANCE AT MARCH 31, 2008		150.5		$	894	$	565		$	(67	)	$	5,496		$	(1,631	)	$	5,257

-21-

BUSINESS SEGMENT FINANCIAL RESULTS

Comerica Incorporated and Subsidiaries

							Wealth &
(dollar amounts in millions)	Business			Retail			Institutional
Three Months Ended March 31, 2008	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	329		$	148		$	36		$	(26	)	$	(10	)	$	477
Provision for loan losses		147			17			—			—			(5	)		159
Noninterest income		74			74			75			18			(4	)		237
Noninterest expenses		176			143			79			3			2			403
Provision (benefit) for income taxes (FTE)		18			22			12			(8	)		(2	)		42
Loss from discontinued operations, net of tax		—			—			—			—			(1	)		(1	)
Net income (loss)	$	62		$	40		$	20		$	(3	)	$	(10	)	$	109
Net credit-related charge-offs	$	99		$	10		$	1		$	—		$	—		$	110
Selected average balances:
Assets	$	42,129		$	7,144		$	4,468		$	8,644		$	1,542		$	63,927
Loans		41,219			6,276			4,315			5			37			51,852
Deposits		15,878			17,162			2,637			8,142			243			44,062
Liabilities		16,687			17,170			2,646			21,636			596			58,735
Attributed equity		3,168			725			331			902			66			5,192
Statistical data:
Return on average assets (1)		0.59	%		0.89	%		1.79	%		N/M			N/M			0.68	%
Return on average attributed equity		7.83			22.00			24.10			N/M			N/M			8.42
Net interest margin (2)		3.20			3.47			3.33			N/M			N/M			3.22
Efficiency ratio		44.05			70.99			70.95			N/M			N/M			58.25

							Wealth &
	Business			Retail			Institutional
Three Months Ended December 31, 2007	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	330		$	161		$	36		$	(30	)	$	(8	)	$	489
Provision for loan losses		88			26			1			—			(7	)		108
Noninterest income		80			55			72			16			7			230
Noninterest expenses		186			182			86			3			(7	)		450
Provision (benefit) for income taxes (FTE)		43			3			8			(9	)		(1	)		44
Income from discontinued operations, net of tax		—			—			—			—			2			2
Net income (loss)	$	93		$	5		$	13		$	(8	)	$	16		$	119
Net credit-related charge-offs	$	50		$	14		$	—		$	—		$	—		$	64
Selected average balances:
Assets	$	41,327		$	6,998		$	4,321		$	6,785		$	1,076		$	60,507
Loans		40,285			6,229			4,146			5			34			50,699
Deposits		15,931			17,254			2,552			6,622			8			42,367
Liabilities		16,765			17,266			2,561			18,472			356			55,420
Attributed equity		3,073			872			353			724			65			5,087
Statistical data:
Return on average assets (1)		0.89	%		0.11	%		1.21	%		N/M			N/M			0.79	%
Return on average attributed equity		12.02			2.33			14.88			N/M			N/M			9.35
Net interest margin (2)		3.25			3.69			3.43			N/M			N/M			3.43
Efficiency ratio		45.54			84.52			79.55			N/M			N/M			62.76

							Wealth &
	Business			Retail			Institutional
Three Months Ended March 31, 2007	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	337		$	170		$	37		$	(38	)	$	(3	)	$	503
Provision for loan losses		14			5			(1	)		—			5			23
Noninterest income		61			52			71			16			3			203
Noninterest expenses		170			153			76			2			6			407
Provision (benefit) for income taxes (FTE)		68			22			12			(12	)		(3	)		87
Income from discontinued operations, net of tax		—			—			—			—			1			1
Net income (loss)	$	146		$	42		$	21		$	(12	)	$	(7	)	$	190
Net credit-related charge-offs	$	14		$	5		$	—		$	—		$	—		$	19
Selected average balances:
Assets	$	40,059		$	6,840		$	3,898		$	5,015		$	1,276		$	57,088
Loans		39,015			6,095			3,747			17			22			48,896
Deposits		16,711			17,032			2,317			6,490			29			42,579
Liabilities		17,565			17,045			2,317			14,600			469			51,996
Attributed equity		2,850			835			312			574			521			5,092
Statistical data:
Return on average assets (1)		1.45	%		0.93	%		2.19	%		N/M			N/M			1.33	%
Return on average attributed equity		20.45			19.99			27.36			N/M			N/M			14.89
Net interest margin (2)		3.50			4.04			3.92			N/M			N/M			3.82
Efficiency ratio		42.72			68.84			70.52			N/M			N/M			57.66

(1)	Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(2)	Net interest margin is calculated based on the greater of average earning assets or average deposits and purchased funds.
FTE	— Fully Taxable Equivalent
N/M	— Not Meaningful

-22-

MARKET SEGMENT FINANCIAL RESULTS

Comerica Incorporated and Subsidiaries

(dollar amounts in millions)																			Finance
													Other						& Other
Three Months Ended March 31, 2008	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	205		$	172		$	74		$	11		$	36		$	15		$	(36	)	$	477
Provision for loan losses		20			114			8			12			13			(3	)		(5	)		159
Noninterest income		136			33			24			5			17			8			14			237
Noninterest expenses		186			108			58			10			26			10			5			403
Provision (benefit) for income taxes (FTE)		48			(7	)		12			(2	)		(5	)		6			(10	)		42
Income from discontinued operations, net of tax		—			—			—			—			—			—			(1	)		(1	)
Net income (loss)	$	87		$	(10	)	$	20		$	(4	)	$	19		$	10		$	(13	)	$	109
Net credit-related charge-offs	$	28		$	66		$	5		$	10		$	—		$	1		$	—		$	110
Selected average balances:
Assets	$	19,656		$	17,263		$	7,932		$	1,891		$	4,633		$	2,366		$	10,186		$	63,927
Loans		19,030			16,882			7,642			1,877			4,140			2,239			42			51,852
Deposits		16,127			12,848			4,005			362			1,534			801			8,385			44,062
Liabilities		16,814			12,849			4,022			358			1,643			817			22,232			58,735
Attributed equity		1,663			1,270			619			125			384			163			968			5,192
Statistical data:
Return on average assets (1)		1.76	%		(0.23	)%		1.00	%		(0.76	)%		1.61	%		1.76	%		N/M			0.68	%
Return on average attributed equity		20.83			(3.19	)		12.88			(11.57	)		19.47			25.50			N/M			8.42
Net interest margin (2)		4.30			4.07			3.83			2.55			3.42			2.69			N/M			3.22
Efficiency ratio		57.48			52.99			61.28			61.24			50.41			44.09			N/M			58.25

																			Finance
													Other						& Other
Three Months Ended December 31, 2007	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	212		$	178		$	74		$	11		$	36		$	16		$	(38	)	$	489
Provision for loan losses		21			92			7			5			(7	)		(3	)		(7	)		108
Noninterest income		120			35			23			4			16			9			23			230
Noninterest expenses		218			121			67			11			26			11			(4	)		450
Provision (benefit) for income taxes (FTE)		34			2			9			—			3			6			(10	)		44
Income from discontinued operations, net of tax		—			—			—			—			—			—			2			2
Net income (loss)	$	59		$	(2	)	$	14		$	(1	)	$	30		$	11		$	8		$	119
Net credit-related charge-offs	$	37		$	23		$	3		$	—		$	1		$	—		$	—		$	64
Selected average balances:
Assets	$	19,228		$	17,137		$	7,677		$	1,732		$	4,591		$	2,281		$	7,861		$	60,507
Loans		18,601			16,615			7,381			1,719			4,192			2,152			39			50,699
Deposits		16,117			13,012			3,935			299			1,495			879			6,630			42,367
Liabilities		16,797			13,044			3,953			297			1,613			888			18,828			55,420
Attributed equity		1,766			1,264			634			112			369			153			789			5,087
Statistical data:
Return on average assets (1)		1.23	%		(0.06	)%		0.73	%		(0.21	)%		2.64	%		1.87	%		N/M			0.79	%
Return on average attributed equity		13.41			(0.81	)		8.79			(3.29	)		32.83			27.81			N/M			9.35
Net interest margin (2)		4.50			4.24			3.95			2.67			3.40			2.80			N/M			3.43
Efficiency ratio		65.81			56.97			69.30			73.50			49.17			47.13			N/M			62.76

																			Finance
													Other						& Other
Three Months Ended March 31, 2007	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	227		$	188		$	69		$	11		$	32		$	17		$	(41	)	$	503
Provision for loan losses		27			(12	)		—			1			2			—			5			23
Noninterest income		115			27			19			4			11			8			19			203
Noninterest expenses		194			111			53			9			21			11			8			407
Provision (benefit) for income taxes (FTE)		42			43			12			2			(2	)		5			(15	)		87
Income from discontinued operations, net of tax		—			—			—			—			—			—			1			1
Net income (loss)	$	79		$	73		$	23		$	3		$	22		$	9		$	(19	)	$	190
Net credit-related charge-offs (recoveries)	$	21		$	(5	)	$	3		$	—		$	—		$	—		$	—		$	19
Selected average balances:
Assets	$	19,180		$	16,782		$	6,719		$	1,646		$	4,288		$	2,182		$	6,291		$	57,088
Loans		18,614			16,241			6,444			1,626			3,873			2,059			39			48,896
Deposits		15,868			13,696			3,843			284			1,271			1,098			6,519			42,579
Liabilities		16,520			13,733			3,858			288			1,391			1,137			15,069			51,996
Attributed equity		1,712			1,177			556			87			300			165			1,095			5,092
Statistical data:
Return on average assets (1)		1.64	%		1.74	%		1.38	%		0.76	%		2.02	%		1.69	%		N/M			1.33	%
Return on average attributed equity		18.37			24.80			16.65			14.35			28.93			22.41			N/M			14.89
Net interest margin (2)		4.93			4.69			4.31			2.80			3.27			3.23			N/M			3.82
Efficiency ratio		56.78			51.32			60.84			60.63			49.23			41.93			N/M			57.66

(1)	Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(2)	Net interest margin is calculated based on the greater of average earning assets or average deposits and purchased funds.
FTE	— Fully Taxable Equivalent
N/M	— Not Meaningful

-23-

EX-99.2

Exhibit 99.2

First Quarter 2008 Financial Review April 17, 2008

Safe Harbor Statement 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," "feels," "expects," "estimates," "seeks," "strives," "plans," "intends," "outlook," "forecast," "position," "target," "mission," "assume," "achievable," "potential," "strategy," "goal," "aspiration," "outcome," "continue," "remain," "maintain," "trend," "objective" 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 the pace of an economic recovery and related changes in employment levels, changes related to the headquarters relocation or to its underlying assumptions, the effects of war and other armed conflicts or acts of terrorism, the effects of natural disasters including, but not limited to, hurricanes, tornadoes, earthquakes and floods, the disruption of private or public utilities, the implementation of Comerica's strategies and business models, management's ability to maintain and expand customer relationships, changes in customer borrowing, repayment, investment and deposit practices, management's ability to retain key officers and employees, changes in the accounting treatment of any particular item, the impact of regulatory examinations, declines or other changes in the businesses or industries in which Comerica has a concentration of loans, including, but not limited to, the automotive production industry and the real estate business lines, the anticipated performance of any new banking centers, the entry of new competitors in Comerica's markets, changes in the level of fee income, changes in applicable laws and regulations, including those concerning taxes, banking, securities and insurance, changes in trade, monetary and fiscal policies, including the interest rate policies of the Board of Governors of the Federal Reserve System, fluctuations in inflation or interest rates, changes in general economic, political or industry conditions and related credit and market conditions, and adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. 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. Legal

Financial Results Overview $ in millions, except per share data Data has been restated to reflect the results of Munder Capital Management as a discontinued operation 1Q08 4Q07 1Q07 Net Income $109 $119 $190 Diluted EPS from continuing operations $0.73 $0.77 $1.19 Diluted EPS $0.73 $0.79 $1.19 Return on equity from continuing operations 8.51% 9.20% 14.86% Net interest income $476 $489 $502 Net interest margin 3.22% 3.43% 3.82% Provision for loan losses $159 $108 $23 Noninterest income $237 $230 $203 Noninterest expenses $403 $450 $407

First Quarter 2008 Results Highlights *Excludes Financial Services Division; Analysis of 1Q08 compared to 4Q07 **CRE: Commercial Real Estate Annualized average loan growth of 10%* Texas: 14% Western: 10% Midwest: 9% Noninterest bearing deposit growth of 12%* Net interest margin of 3.22% Credit quality Allowance for loan losses to total loans increased to 1.16% Credit quality concerns focused on CA residential real estate Net credit-related charge-offs as a percentage of average total loans of 85 bps or 31 bps excluding CRE** Line of Business Solid capital position

Net Interest Income NII & NIM Net interest income of $476 million Good loan and deposit growth Securities portfolio increased One less day in first quarter ($5 million) Net interest margin of 3.22% Reduced contribution from noninterest bearing deposits in a lower rate environment Loan growth outpacing deposit growth Securities portfolio increased Lowered deposit rates

Increasing Investment Securities Portfolio Consists primarily of AAA mortgage backed Freddie Mac and Fannie Mae securities Average life of 3.7 years Increase in portfolio lowers net interest margin Assists in managing interest rate risk Securities $ in millions 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 Average Investment Securities Available-for-Sale 3887 3842 3745 4085 4405 5533 7222 % of Average Earning Assets 0.074 0.0721 0.0705 0.0752 0.0806 0.0977 0.1213

Noninterest Income Growth in fee income: Investment banking fees Deposit service charges Gain on sale of Visa shares Seasonal decline in commercial lending fees Decline in principal investing and warrant income Noninterest Income 3Q06* 4Q06* 1Q07 2Q07 3Q07 4Q07 1Q08 Noninterest Income 202 215 203 225 230 230 237 FSD Settlement Proceeds 1Q08 vs. 4Q07 $ in millions

Midwest Western Texas Florida International Other Markets Avg Loans 19 16.1 7.7 1.9 2.2 4.2 Midwest Western Texas Florida International Other Markets Average Loans 18.7 14.1 6.4 1.6 2.1 3.9 Achieving Geographic Loan Growth 1Q08: $51.1 billion* 1Q07: $47.3 billion* *Excludes average Financial Services Division loans of $1.6B in 1Q07 and $0.8B in 1Q08 Geography based on office of origination; Midwest: MI, OH, IL; Western: CA, AZ, NV, CO, WA; Other Markets include markets not separately identified above in addition to businesses with a national perspective Year-over-Year Average Loan Outstandings up 8%* Loans

Middle Market Commercial Real Estate Global Corporate Banking National Dealer Services Specialty Businesses Personal Banking Small Business Banking Private Banking Average Loans 16.7 7 6.1 5.2 5.5 2.1 4.2 4.3 Middle Market CRE Global Corp Bankings National Dealer Specialty Businesses* Personal Banking Small Business Banking Private Banking Avg Loans 15.9 6.5 5.2 5.3 4.5 2.1 4 3.8 Balanced Line of Business Loan Portfolio Year-over-Year Average Loan Outstandings up 8%* * Excludes average Financial Services Division loans of $1.6B in 1Q07 and $0.8B in 1Q08 ** Specialty Businesses include: Entertainment, Energy, Leasing, and Technology and Life Sciences 1Q08: $51.1 billion* 1Q07: $47.3 billion* Loans

Credit Quality 1Q08 4Q07 1Q07 Net credit-related* charge-offs to average total loans Excluding CRE Line of Business 0.85% 0.31% 0.50% 0.25% 0.16% 0.16% Nonperforming assets to total loans and foreclosed property 1.07% 0.83% 0.49% Allowance for loan losses to total loans 1.16% 1.10% 1.04% Allowance for loan losses to nonperforming loans 112% 138% 229% * Includes net loan charge-offs and net charge-offs on lending-related commitments Credit

Commercial Real Estate Middle Market Small Business Banking Private Banking Other Business Lines 383.391601 78.08282 49.501958 7.317075 17.993733 Granular Nonaccrual Loans March 31, 2008: $538 million By Line of Business Period-end balances in $millions 47% of nonaccrual loans located in the Western market Average write-down to nonaccrual loans: 31% Granularity of commercial nonaccrual loans: Outstanding # of Relationships Under $5M $178 325 $5 - $10M 156 22 $10 - $25M 202 13 Over $25M 0 0 Total $536 360 Credit

Midwest Western Texas Florida International 28.401 66.868 4.661 9.171 0.941 Midwest Western Texas Other Markets 36.766 22.348 3.247 0.784 Net Loan Charge-offs by Geography 1Q08: $110 million 4Q07: $63 million Credit $ in millions

Single Family Land Development Land Carry Retail Multi-family Commercial Office Multi-use 1.5 0.7 0.7 0.8 0.7 0.3 0.4 0.4 Western Michigan Texas Florida Other Markets 2.5 0.9 1 0.6 0.5 Commercial Real Estate Line of Business March 31, 2008 Loan Outstandings: $5.5 billion* By Project Type By Geography Period-end balances in $billions; Geography reflects location of property; additional CRE information can be found in the appendix * Excludes $1.5B in Commercial Real Estate line of business loans not secured by real estate Credit

Midwest Western Texas Florida 13.926 58.451 2.328 0.943 Midwest Western Other Markets 25.666 9.41 1.125 Commercial Real Estate Line of Business Net Loan Charge-offs 1Q08: $75 million 4Q07: $36 million Credit $ in millions

California Housing Market Credit California Median Existing Single-Family Home Price $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 California Building Permits 80,000 100,000 120,000 140,000 160,000 180,000 200,000 220,000 Jan-2001 Jan-2002 Jan-2003 Jan-2004 Jan-2005 Jan-2006 Jan-2007 Jan-2008 Rolling 12-Mo. Sum

California Commercial Real Estate Line of Business Smaller local developers 41% of total nonaccrual loans 100% of net loan charge- offs in Western CRE Entire portfolio transferred to Special Assets Group Local CA Real Estate Residential Mortgages 2.1 0.4 March 31, 2008: $2.3 billion* Period-end balances in $billions * California only, excludes other states within the Western market CA Local RRE $0.8B Credit CA Local Residential Real Estate Developer Portfolio:

Residential Real Estate (RRE) Portfolio Risk Assessment Process Credit Quality Review Meets quarterly or as new information is available Approve strategy for exit or restructure Review collateral values, including appraisals (updated as appropriate) and secondary market price indications Determine provisions and charge-offs Loan Loss Reserves Increased Special Asset Group (SAG) Local CA RRE customers and relationship managers transferred to SAG, and managed by experienced work out professionals Access Secondary Market Debt Sales (Brokers & Commercial Developers) Credit

Consumer Loan Portfolio 8% of total outstandings No sub-prime mortgage programs Self-originated & relationship oriented 1% of total nonaccrual loans Net loan charge-offs of $6 million Consumer loans-Other Consumer Loans-HELOC Residential Mortgages 19 37 44 1Q08: $4.4 billion 1Q08 averages in $billions Residential mortgages we hold on our balance sheet are primarily associated with our Private Banking customers. The residential mortgages we originate through our banking centers are typically sold to a third party. (2) The "other" category includes automobile, personal watercraft, student and recreational vehicle loans. Consumer Loans - Home Equity $1.6B 37% Consumer Loans - Other (2) $0.9B 19% Residential Mortgage Loans (1) $1.9B 44% Credit

Home Equity Portfolio Other Markets Midwest Western Texas Florida 73 15 10 2 76% home equity lines and 24% home equity loans Avg. FICO score of 748 at origination* 83% have CLTV ^ 80%* Average loan vintage is 3.45 years* Geographic Breakdown Midwest 73% Texas 10% Western 15% *Data on loans booked through our Consumer Loan Center which encompasses about 85% of our Home Equity Lines and Loans 1Q08 averages in $billions Geography based on office of origination 1Q08: $1.6 billion Florida 2% Credit

Automotive Manufacturer Exposure Declining 12/06 12/07 2/08 Exposure: Dealer $ 7.4 $ 7.3 $ 7.4 Other Automotive: Domestic Ownership $ 2.9 $ 2.6 $ 2.5 Foreign Ownership 1.3 1.1 1.1 Total Other Automotive $ 4.2 $ 3.7 $3.6 Outstandings: Dealer $ 5.6 $ 5.4 $ 5.4 Other Automotive: Domestic Ownership $ 1.7 $ 1.4 $ 1.4 Foreign Ownership 0.5 0.4 0.4 Total Other Automotive $ 2.2 $ 1.8 $ 1.8 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 NPA's 43 49 46 39 20 17 16 16 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 Net Loan Charge-offs 3 3 2 7 -6 -0.1 -0.1 0.209 Period-end in $ billions Exposure includes committed and discretionary facilities (undrawn and outstanding) Credit

Growing Deposits Total deposits of $44.1 billion Average noninterest-bearing deposits* grew 12% Deposits grew in: Middle Market Global Corporate Banking Technology & Life Sciences Personal Banking Private Banking Average core deposits* increased : 3% in the West 2% in Texas $ in billions *Excludes Finance/Institutional CDs, and Financial Services Division balances; 1Q08 vs 4Q07 annualized 1Q07 2Q07 3Q07 4Q07 1Q08 Money Market & NOW 13.517 13.614 13.799 14.071 14.265 Savings Deposits 1.38 1.419 1.378 1.373 1.358 Customer CDs / Foreign Office Time 8.448 8.305 8.715 9.49 9.465 Noninterest-bearing 8.712 8.355 8.264 8.473 8.729 Average Core Deposits* Deposits

Financial Services Division Data 1Q08 4Q07 1Q07 Average Balance Sheet Noninterest-bearing $1.9 $2.1 $3.5 Interest-bearing 1.1 1.1 1.2 Total Deposits $3.0 $3.2 $4.7 Total Loans $0.8 $0.9 $1.6 Noninterest Expenses Customer Services $6 $7 $14 Average Rates FSD Loans (Primarily Low-rate) 1.12% 0.98% 0.68% FSD Interest-bearing Deposits 2.77% 3.78% 3.91% Balance Sheet data in $billions; Noninterest Expense data in $millions 2008 Full Year Outlook: Average noninterest-bearing deposits are expected to be about $1.7 to $1.9 billion Average loans are expected to fluctuate with the level of noninterest-bearing deposits Specialty Businesses

Plan to open about 32 new banking centers in 2008, all in high growth markets Location of New Banking Centers 2005 2006 2007 3/08 Full Year 2008 Total 3/08 California 8 12 13 2 14 85 Arizona 2 2 3 1 5 9 Texas 7 7 12 0 12 79 Florida 0 3 0 0 1 9 Michigan 1 1 2 0 0 238 Total 18 25 30 3 32 420 Investing to Accelerate Growth and Balance: Banking Center Expansion Deposits

New Banking Center Deposits 3/05 6/05 9/05 12/05 3/06 6/06 9/06 12/06 3/07 6/07 9/07 12/07 3/08 Deposits ($) 236.410856 379.041293 413.658248 460.366727 500.44724 533.898426 610.573174 826.07435 890.275364 1127.348288 1526.135 1771.339 751.219 597.973 284.532 333.583 Month Average CAGR: 19% Personal Banking - 30% Business Bank - 38% Small Business Banking - 15% WIM - 17% Millions Deposits

Multiple Funding Sources Solid core deposit growth Moody's reaffirmed A1 rating and stable outlook Federal Home Loan Bank of Dallas Joined February 2008 $2.0 billion advanced with five year term Multi billion dollar funding capacity Tapping into Repo market Larger investment securities portfolio 12% of average earning assets at 1Q08 vs 7% at 1Q07 Capital Equity Interest Bearing Deposits NIB Deposits M/T & L/T Funding S/T Wholesale Funding 5192 26183 10622 9856 10754 Funding Sources Short-term / Wholesale 17% Interest- bearing Deposits 42% Noninterest- bearing Deposits 17% Medium- and Long- term Debt 16% Equity 8% In addition to the funding sources above, Comerica maintains untapped capacity to borrow at the Federal Reserve, including the discount window and the Term Auction Facility

12/31/05 12/31/06 3/31/07 6/30/07 9/30/07 12/31/07 3/31/2008 Comerica 0.0778 0.0754 0.0749 0.0718 0.0701 0.0685 0.0671 Peer Group Median** 0.07 0.0734 0.067 0.0655 0.0639 0.0574 Solid Capital Position Tier 1 Common Capital Ratio History* *Tier 1 Common = (Tier 1 Capital - Preferred Stock) / Risk-adjusted Assets; estimated at 3/31/08 **Peer Group consists of: BBT, FITB, HBAN, KEY, MI, MTB, NCC, PNC, RF, STI, UB, USB, ZION Tier 1 Common Capital Ratio* of 6.71% within target range of 6.50% - 7.50% 39 consecutive years of dividend increases Strong capital position relative to Peer Group Capital

2008 Full Year Outlook Loan growth (excluding the Financial Services Division)*: mid single-digit growth Texas low double-digit* West mid to high single-digit* Midwest low single-digit* Average earning asset growth: in excess of average loan growth Net interest margin: around 3.10% Net credit-related charge-offs: around 75 to 80 bps** Noninterest income*: low single-digit increase Noninterest expense*: low single-digit decrease Effective tax rate: about 28% Tier 1 common ratio: maintain within 6.50-7.50% target range This outlook is provided as of April 17, 2008 * Percentage change over 2007 ** Provision for credit losses exceeding net credit-related charge-offs Full Year Outlook

Questions and Answers Ralph Babb Chairman and CEO Beth Acton EVP and Chief Financial Officer Dale Greene EVP and Chief Credit Officer Darlene Persons Director of Investor Relations

Appendix

Business Segment Contribution to Net Income YTD 3/08 % YTD 3/07 % Business Bank $62 51% $146 70% Retail Bank 40 33 42 20 Wealth & Institutional Management 20 16 21 10 122 100% 209 100% Finance (3) (12) Other* (10) (7) TOTAL $109 $190 $ in millions * Includes discontinued operations and items not directly associated with the three major business segments or the Finance Division Appendix

Market Segment Contribution to Net Income YTD 3/08 % YTD 3/07 % Midwest $87 71% $79 39% Western (10) (8) 73 35 Texas 20 16 23 11 Florida (4) (3) 3 1 Other Markets 19 15 22 10 International 10 9 9 4 122 100% 209 100% Finance and Other* (13) (19) TOTAL $109 $190 $ in millions * Includes discontinued operations and items not directly associated with the geographic markets Appendix

Loan Momentum Continues in Growth Markets 1Q08 4Q07 Q - Q% Chg 1Q07 Y - Y% Chg Midwest $19.0 $18.6 2% $18.7 2% Western > Excluding FSD 16.9 16.1 16.6 15.7 2% 3% 16.2 14.6 4% 10% Texas 7.7 7.4 4% 6.4 19% Florida 1.9 1.7 9% 1.6 15% Other Markets 4.2 4.2 -1% 3.9 7% International 2.2 2.2 4% 2.1 9% TOTAL $51.9 $50.7 2% $48.9 6% > EXCLUDING FSD $51.1 $49.8 3% $47.3 8% Average loans in $billions; % change based on full dollar amounts Geography based on location of loan office Western includes: CA, AZ, NV, CO, WA Appendix

Diverse Line of Business Loan Growth 1Q08 4Q07 Q - Q% Change 1Q07 Y - Y% Change Middle Market $16.7 $16.4 1% $15.9 5% Commercial Real Estate 7.0 6.9 1% 6.5 7% Global Corporate Banking 6.1 5.7 8% 5.2 18% National Dealer Services 5.2 5.1 2% 5.3 -2% Specialty Businesses* > Excluding FSD 6.3 5.5 6.2 5.3 1% 4% 6.1 4.5 3% 21% SUBTOTAL - BUSINESS BANK $41.3 $40.3 2% $39.0 6% Small Business Banking 4.2 4.1 3% 4.0 7% Personal Banking 2.1 2.1 -3% 2.1 -5% SUBTOTAL - RETAIL BANK $6.3 $6.2 1% $6.1 3% Private Banking 4.3 4.2 4% 3.8 15% SUBTOTAL - WEALTH & INSTITUTIONAL MANAGEMENT $4.3 $4.2 4% $3.8 15% TOTAL > EXCLUDING FSD $51.9 $51.1 $50.7 $49.8 2% 3% $48.9 $47.3 6% 8% Average loans in $billions; % change based on full dollar amount * Specialty Businesses includes: Entertainment, Energy, FSD, Leasing and TLS Appendix

First Quarter 2008 Average Loans Detail Midwest Western Texas Florida Other Markets International TOTAL Middle Market $8.2 $5.1 $2.0 $0.2 $1.2 $-- $16.7 Commercial Real Estate 1.3 2.7 1.2 0.5 1.3 -- 7.0 Global Corporate Banking 1.7 1.1 0.3 0.1 0.7 2.2 6.1 National Dealer Services 0.8 3.2 0.3 0.5 0.4 -- 5.2 Specialty Businesses* 1.2 2.3 2.2 0.0 0.6 -- 6.3 SUBTOTAL - BUSINESS BANK $13.2 $14.4 $6.0 $1.3 $4.2 $2.2 $41.3 Small Business Banking 2.2 1.0 1.0 -- -- -- 4.2 Personal Banking 1.8 0.1 0.2 -- 0.0 -- 2.1 SUBTOTAL - RETAIL BANK $4.0 $1.1 $1.2 $-- $0.0 $-- $6.3 Private Banking 1.8 1.4 0.5 0.6 -- -- 4.3 SUBTOTAL - WEALTH & INSTITUTIONAL MANAGEMENT $1.8 $1.4 $0.5 $0.6 $-- $-- $4.3 TOTAL $19.0 $16.9 $7.7 $1.9 $4.2 $2.2 $51.9 $ in billions; geography based on office of origination. * Specialty Businesses includes: Entertainment, Energy, FSD, Leasing and TLS Appendix

Commercial Real Estate Loan Portfolio Owner Occupied/Other* Real Estate Construction Commercial Mortgage 9463 4109 1381 1Q08: $15.0 billion 1Q08 averages in $billions *Included in Commercial Real Estate line of business Commercial Real Estate line of business: Loan outstandings grew in TX and Mortgage Banking (1Q08 vs 4Q07) Nonaccrual loans of $383 million Loans over $2 million transferred to nonaccrual totaled $233 million Net loan charge-offs of $75 million Appendix

Real Estate Construction Loans: Commercial Real Estate Line of Business Western Michigan Texas Florida Other Markets TOTAL Single Family $0.9 $0.1 $0.1 $0.2 $0.1 $1.4 Land Development 0.3 0.1 0.2 0.0 0.1 0.7 Retail 0.2 0.1 0.2 0.1 0.1 0.7 Multi-family 0.1 0.0 0.2 0.1 0.1 0.5 Multi-use 0.2 0.0 0.1 0.0 0.0 0.3 Office 0.1 0.0 0.1 -- 0.0 0.2 Commercial 0.1 0.1 0.0 0.0 0.0 0.2 Land Carry 0.1 -- -- -- -- 0.1 TOTAL $2.0 $0.4 $0.9 $0.4 $0.4 $4.1 1Q08 period-end $ in billions Geography reflects location of property Appendix

Commercial Mortgage Loans: Commercial Real Estate Line of Business Western Michigan Texas Florida Other Markets TOTAL Land Carry $0.2 $0.2 $0.1 $0.1 $0.0 $0.6 Multi-family 0.0 0.1 0.0 0.1 0.0 0.2 Office 0.1 0.1 0.0 0.0 0.0 0.2 Commercial 0.1 0.0 0.0 -- 0.0 0.1 Retail 0.0 0.0 0.0 0.0 0.1 0.1 Multi-use 0.0 0.1 0.0 0.0 0.0 0.1 Single Family 0.1 0.0 0.0 0.0 0.0 0.1 TOTAL $0.5 $0.5 $0.1 $0.2 $0.1 $1.4 1Q08 period-end $ in billions Geography reflects location of property Appendix

Line of Business Deposits 1Q08 4Q07 Q - Q% Change 1Q07 Y - Y% Change Middle Market $4.3 $4.2 2% $4.3 1% Commercial Real Estate 0.9 0.9 -8% 1.0 -16% Global Corporate Banking 3.7 3.7 1% 3.3 11% National Dealer Services 0.1 0.1 -3% 0.1 -4% Specialty Businesses1 > Excluding FSD 6.9 3.9 7.0 3.8 -2% 2% 8.0 3.3 -14% 19% SUBTOTAL - BUSINESS BANK >Excluding FSD $15.9 $12.9 $15.9 $12.7 0% 1% $16.7 $12.0 -5% 7% Small Business Banking 3.9 4.0 -4% 3.9 1% Personal Banking 13.3 13.3 1% 13.2 1% SUBTOTAL - RETAIL BANK $17.2 $17.3 -1% $17.1 1% Private Banking 2.6 2.6 3% 2.3 14% SUBTOTAL - WEALTH & INSTITUTIONAL MANAGEMENT $2.6 $2.6 3% $2.3 14% Finance/Other2 8.4 6.6 N/M 6.5 N/M TOTAL > EXCLUDING FSD $44.1 $41.1 $42.4 $39.2 4% 5% $42.6 $37.9 3% 8% Average deposits in $billions; % change based on full dollar amount 1 Specialty Businesses includes: Entertainment, Energy, FSD, Leasing and TLS 2 Finance/Other includes Inst. CD's: 1Q08 - $7.3B; 4Q07 - $5.8B; 1Q07 - $5.8B Appendix

First Quarter 2008 Average Deposits Detail Midwest Western Texas Florida Other Markets International TOTAL Middle Market $0.7 $3.3 $0.2 $0.0 $0.1 $-- $4.3 Commercial Real Estate 0.2 0.2 0.1 0.1 0.3 -- 0.9 Global Corporate Banking 1.9 0.4 0.2 0.0 0.4 0.8 3.7 National Dealer Services 0.0 0.1 0.0 0.0 -- -- 0.1 Specialty Businesses1 0.1 5.6 0.5 -- 0.7 -- 6.9 SUBTOTAL - BUSINESS BANK $2.9 $9.6 $1.0 $0.1 $1.5 $0.8 $15.9 Small Business Banking 1.9 1.0 1.0 -- -- -- 3.9 Personal Banking 10.6 1.0 1.7 -- -- -- 13.3 SUBTOTAL - RETAIL BANK $12.5 $2.0 $2.7 $-- $-- $-- $17.2 Private Banking 0.7 1.3 0.3 0.3 0.0 -- 2.6 SUBTOTAL - WEALTH & INSTITUTIONAL MANAGEMENT $0.7 $1.3 $0.3 $0.3 $0.0 $-- $2.6 Finance/Other2 8.4 -- -- -- -- -- 8.4 TOTAL $24.5 $12.9 $4.0 $0.4 $1.5 $0.8 $44.1 $ in billions 1 Specialty Businesses includes: Entertainment, Energy, FSD, Leasing and TLS 2 Finance/Other includes $7.3B in Institutional CD's; included in Finance Division segment Appendix