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): January 18, 2011

COMERICA INCORPORATED

(Exact name of registrant as specified in its charter)

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

Comerica Bank Tower

1717 Main Street, MC 6404

Dallas, Texas 75201

(Address of principal executive offices) (zip code)

(214) 462-6831

(Registrant’s telephone number, including area code)

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

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

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

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

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

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

Comerica Incorporated (“Comerica”) today released its earnings for the quarter and year ended December 31, 2010. A copy of the press release and the presentation slides which will be discussed in Comerica’s webcast earnings call are attached hereto as Exhibits 99.1 and 99.2, respectively.

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

ITEM 9.01		FINANCIAL STATEMENTS AND EXHIBITS
	(d) Exhibits
		99.1	Press Release dated January 18, 2011
		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

January 18, 2011

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated January 18, 2011
99.2	Earnings Presentation Slides

EX-99.1

Exhibit 99.1

COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION

Period-end Total Loans Stable, with Commercial Loans Increasing $713 Million

Broad-based Improvements in Credit Quality

Liquidity and Capital Remain Strong

DALLAS/January 18, 2011 — Comerica Incorporated (NYSE: CMA) today reported fourth quarter 2010 net income of $96 million, compared to $59 million for the third quarter 2010. Fourth quarter 2010 net income included a provision for loan losses of $57 million, compared to $122 million for the third quarter 2010.

(dollar amounts in millions, except per share data)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income	$	405		$	404		$	396
Provision for loan losses		57			122			256
Noninterest income		215			186			214
Noninterest expenses		437			402			425
Net income (loss)		96			59			(29	)
Preferred stock dividends to U.S. Treasury		—			—			33
Net income (loss) attributable to common shares		95			59			(62	)
Diluted income (loss) per common share		0.53			0.33			(0.42	)
Tier 1 capital ratio		10.08	%(a)		9.96	%		12.46	%
Tangible common equity ratio (b)		10.54			10.39			7.99
Net interest margin		3.29			3.23			2.94

(a) December 31, 2010 ratio is estimated.

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

“We saw many encouraging and positive signs in the fourth quarter,” said Ralph W. Babb Jr., chairman and chief executive officer. “Period-end loan outstandings were stable, with commercial loans up more than $700 million, or about three percent. We were pleased to see growth in loan outstandings across multiple business lines, particularly Middle Market loans in Texas, as well as growth in National Dealer Services, Mortgage Banker Finance, Energy Lending, and Technology and Life Sciences. These increases were muted by the planned and continued reduction of loans in our Commercial Real Estate business line. We also saw broad-based improvement in credit quality, strong deposit growth and fee income generation. Continued balance sheet strength through careful management of liquidity and capital has positioned Comerica for growth as the economic environment improves.

“Our customers are conveying a more positive and confident tone. Generally, they are feeling much better about the economy. Throughout our geographic footprint, our relationship managers report a growing sense of optimism among customers and prospects. This can be seen in our strong loan pipeline. Given the many positive signs we have seen, as well as our strategy for success, which is focused on growth and balance, we believe we are uniquely positioned for the future.”

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 2

Fourth Quarter and Full-Year 2010 Overview

Fourth Quarter 2010 Highlights Compared to Third Quarter 2010

• Credit quality improvement accelerated in the fourth quarter 2010. Net credit-related charge-offs decreased $19 million to $113 million. Internal watch list loans declined $629 million to $5.5 billion. Nonaccrual loans decreased $83 million and loans past due 90 days or more declined $42 million. As a result, the provision for loan losses decreased $65 million to $57 million.

• Period-end total loan outstandings were stable, with growth in commercial loans of $713 million muted by runoff in the Commercial Real Estate business line. Average loans increased $229 million in the fourth quarter 2010, excluding a decrease of $332 million in the Commercial Real Estate business line. In total, average loans decreased $103 million, compared to declines of $570 million and $641 million in the third and second quarters of 2010, respectively.

• Average core deposits increased $1.1 billion in the fourth quarter 2010, reflecting increases in noninterest-bearing deposits and money market and NOW deposits, partially offset by a decrease in customer certificates of deposit. Average core deposits increased across all markets and in most business lines.

• Total revenue increased five percent in the fourth quarter 2010, driven by an increase in noninterest income of $29 million, reflecting increases in numerous fee categories.

• The net interest margin of 3.29 percent increased six basis points. Average earning assets decreased $1.1 billion in the fourth quarter 2010, compared to the third quarter 2010, primarily due to a $1.2 billion decrease in excess liquidity, to $1.8 billion in the fourth quarter 2010.

• Noninterest expenses totaled $437 million in the fourth quarter 2010, an increase of $35 million from the third quarter 2010, in part the result of an increase in salaries expense of $18 million. The increase in salaries expense was largely driven by an increase in incentive compensation, reflecting improved overall performance and final 2010 peer rankings, and an increase in deferred compensation plan costs, which was offset by an increase in deferred compensation asset returns in noninterest income.

• In October 2010, Comerica redeemed $515 million of 6.576% subordinated notes due 2037 at par and recognized a pre-tax charge of $5 million in noninterest expenses resulting from the accelerated accretion of the original issuance discount. The notes related to trust preferred securities issued by an unconsolidated subsidiary, which were concurrently redeemed.

• Capital ratios remained strong. The tangible common equity ratio increased 15 basis points to 10.54 percent at December 31, 2010 and the estimated Tier 1 ratio increased 12 basis points, to 10.08 percent at December 31, 2010, from September 30, 2010.

• In the fourth quarter 2010, Comerica doubled the quarterly dividend to 10 cents per share, authorized the repurchase of up to 12.6 million shares of common stock in the open market and authorized the purchase of outstanding warrants to purchase up to 11.5 million shares of common stock.

Full-Year 2010 Compared to Full-Year 2009

• Credit quality improved significantly. Net credit-related charge-offs decreased $305 million to $564 million. Internal watch list loans declined $2.2 billion to $5.5 billion. Nonaccrual loans decreased $85 million and loans past due 90 days or more declined $39 million. As a result, the provision for loan losses decreased $602 million to $480 million.

• Average earning assets were $51.0 billion in 2010, a decrease of $7.2 billion from 2009. Average loans decreased $5.6 billion in 2010 to $40.5 billion, reflecting subdued loan demand from customers in a modestly recovering economic environment.

• Average core deposits increased $3.4 billion to $38.7 billion, primarily reflecting increases of $3.4 billion in money market and NOW deposits and $2.2 billion in noninterest-bearing deposits, partially offset by a $2.3 billion decrease in customer certificates of deposit.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 3

Full-Year 2010 Compared to Full-Year 2009 (continued)

• The net interest margin was 3.24 percent for 2010, compared to 2.72 percent for 2009. The increase in the net interest margin was primarily due to changes in the funding mix, including a continued shift in funding sources toward lower-cost funds, and improved loan spreads.

• Noninterest income decreased $261 million compared to 2009. Increases in commercial lending fees ($16 million), card fees ($7 million) and letter of credit fees ($7 million) were partially offset by decreases in service charges on deposit accounts ($20 million) and fiduciary income ($7 million). Additionally, 2009 included net securities gains ($243 million), gains related to the repurchase of debt ($15 million) and net gains on the termination of leveraged leases ($8 million).

• Noninterest expenses decreased $10 million, compared to 2009, primarily reflecting decreases in FDIC insurance expense ($28 million), pension expense ($27 million) and other real estate expense ($19 million), partially offset by an increase in salaries expense ($53 million). The increase in salaries expense was largely driven by an increase in incentive compensation, reflecting improved overall performance and final 2010 peer rankings. Full time equivalent staff decreased by approximately 330 employees, or four percent, from December 31, 2009.

• In March 2010, Comerica fully redeemed $2.25 billion of preferred stock issued to the U.S. Treasury. The redemption was funded by the net proceeds from an $880 million common stock offering also completed in March 2010 and from excess liquidity at the parent company. The redemption resulted in a one-time charge of $94 million, included in preferred stock dividends, reflecting the accelerated accretion of the remaining discount. In addition, in October 2010, Comerica redeemed $515 million of subordinated notes related to trust preferred securities.

Net Interest Income and Net Interest Margin

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income	$	405		$	404		$	396
Net interest margin		3.29	%		3.23	%		2.94	%
Selected average balances:
Total earning assets	$	49,102		$	50,189		$	53,953
Total investment securities		7,112			6,906			8,587
Federal Reserve Bank deposits (excess liquidity) (a)		1,793			2,983			2,453
Total loans		39,999			40,102			42,753
Total core deposits (b)		39,896			38,786			36,742
Total noninterest-bearing deposits		15,607			14,920			14,430

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

(b) Core deposits exclude other time deposits and foreign office time deposits.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 4

• Net interest income was stable, as the impact of a decline in average earning assets was offset by an increase in the net interest margin.

• Average earning assets decreased $1.1 billion, primarily due to a decrease of $1.2 billion in excess liquidity, represented by average Federal Reserve Bank deposits. Excluding a decrease of $332 million in the Commercial Real Estate business line, average loans increased $229 million in the fourth quarter 2010, including increases across all markets in the National Dealer Services, Mortgage Banker Finance and Energy Lending business lines. Additionally, average loans increased in the Middle Market business line in the Texas market.

• The net interest margin of 3.29 percent increased six basis points compared to third quarter 2010. The increase in the net interest margin reflected the benefit from the decrease in excess liquidity and the redemption of higher-cost trust preferred securities discussed above, partially offset by a decrease in yields on investment securities, primarily resulting from elevated prepayment activity in higher-yielding, mortgage-backed investment securities.

• Fourth quarter 2010 average core deposits increased $1.1 billion compared to third quarter 2010, reflecting increases of $687 million in noninterest-bearing deposits and $621 million in money market and NOW deposits, partially offset by a decrease of $206 million in customer certificates of deposit. Average core deposits increased across all markets and in most business lines.

Noninterest Income

Noninterest income was $215 million for the fourth quarter 2010, compared to $186 million for the third quarter 2010. The $29 million increase resulted largely from increases in commercial lending fees ($7 million), deferred compensation asset returns ($6 million), bank-owned life insurance ($5 million), customer derivative income ($4 million), and a $4 million insurance recovery in the fourth quarter 2010, as well as smaller increases across several fee categories. As expected, service charges on deposit accounts declined $2 million, largely the result of the impact of Regulation E on overdraft fees.

Noninterest Expenses

Noninterest expenses were $437 million for the fourth quarter 2010, compared to $402 million for the third quarter 2010. The $35 million increase in noninterest expenses was primarily due to an increase in salaries expense ($18 million), a $5 million one-time charge related to the redemption of subordinated notes previously discussed, and increases in outside processing fees ($4 million) and litigation and operational losses ($4 million). The increase in salaries expense was primarily due to increases in executive and business unit incentives ($10 million), deferred compensation plan costs ($6 million) (offset by an increase in deferred compensation asset returns in noninterest income) and severance expense ($3 million), partially offset by a decrease in share-based compensation expense ($5 million). Full-time equivalent staff decreased by approximately 330 employees, or four percent, from December 31, 2009.

Credit Quality

“All of the key credit metrics are moving in the right direction, with decreases in net charge-offs, watch list loans and nonaccrual loans, all leading to a significant decline in the provision for loan losses,” said Babb. “Comerica’s credit performance throughout this cycle has been among the best in our peer group. We believe it is a reflection of our strong credit culture and the diligent credit quality review processes we employ. We expect to see continued improvement given the moderate pace of the economic recovery.”

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 5

• Net credit-related charge-offs decreased $19 million to $113 million in the fourth quarter 2010, from $132 million in the third quarter 2010. The decrease in net credit-related charge-offs primarily resulted from decreases of $19 million in the Commercial Real Estate business line and $9 million in the Middle Market business line, partially offset by increases of $6 million in the Global Corporate Banking business line and $4 million in Private Banking.

• Internal watch list loans declined $629 million to $5.5 billion from September 30, 2010 to December 31, 2010.

• During the fourth quarter 2010, $180 million of loan relationships greater than $2 million were transferred to nonaccrual status, a decrease of $114 million from the third quarter 2010, primarily due to a $61 million decrease in transfers from the Commercial Real Estate business line and a $54 million decrease in transfers from the Middle Market business line. Of the transfers of loan relationships greater than $2 million to nonaccrual in the fourth quarter 2010, $71 million were from the Commercial Real Estate business line, primarily in the Midwest and Florida markets, and $71 million were from the Middle Market business line, in the Midwest and Western markets.

• Nonperforming assets decreased $76 million to $1.2 billion, or 3.06 percent of total loans and foreclosed property, at December 31, 2010.

• Nonaccrual loans were charged down 46 percent at December 31, 2010.

• Foreclosed property decreased $8 million to $112 million at December 31, 2010, from $120 million at September 30, 2010.

• Loans past due 90 days or more and still accruing were $62 million at December 31, 2010, a decrease of $42 million compared to September 30, 2010.

• The provision for loan losses decreased $65 million, primarily due to reductions in the Middle Market, Private Banking, Commercial Real Estate and Leasing business lines, partially offset by increases in the Global Corporate Banking and Personal Banking business lines.

• The allowance for loan losses to total loans ratio was 2.24 percent and 2.38 percent at December 31, 2010 and September 30, 2010, respectively.

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net credit-related charge-offs	$	113		$	132		$	225
Net credit-related charge-offs/Average total loans		1.13	%		1.32	%		2.10	%
Provision for loan losses	$	57		$	122		$	256
Provision for credit losses on lending-related commitments		(3	)		(6	)		3
Total provision for credit losses		54			116			259
Nonperforming loans		1,123			1,191			1,181
Nonperforming assets (NPAs)		1,235			1,311			1,292
NPAs/Total loans and foreclosed property		3.06	%		3.24	%		3.06	%
Loans past due 90 days or more and still accruing	$	62		$	104		$	101
Allowance for loan losses		901			957			985
Allowance for credit losses on lending-related commitments (a)		35			38			37
Total allowance for credit losses		936			995			1,022
Allowance for loan losses/Total loans		2.24	%		2.38	%		2.34	%
Allowance for loan losses/Nonperforming loans		80			80			83

(a) Included in “Accrued expenses and other liabilities” on the consolidated balance sheets.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 6

Balance Sheet and Capital Management

Total assets and common shareholders’ equity were $53.7 billion and $5.8 billion, respectively, at December 31, 2010, compared to $55.0 billion and $5.9 billion, respectively, at September 30, 2010. There were approximately 177 million common shares outstanding at December 31, 2010.

Comerica’s tangible common equity ratio was 10.54 percent at December 31, 2010, an increase of 15 basis points from September 30, 2010. The estimated Tier 1 ratio increased 12 basis points, to 10.08 percent at December 31, 2010, from September 30, 2010.

Full-Year 2011 Outlook

For full-year 2011, management expects the following, compared to full-year 2010, based on a continuation of modest growth in the economy. NOTE: This outlook does not include any impact from the acquisition of Sterling Bancshares, Inc.

• A low single-digit decrease in average loans. Excluding the Commercial Real Estate business line, a low single-digit increase in average loans.

• Average earning assets of approximately $48 billion, reflecting lower excess liquidity in addition to a decrease in average loans.

• An average net interest margin similar to full-year 2010, based on no increase in the Federal Funds rate.

• Net credit-related charge-offs between $350 million and $400 million. The provision for credit losses is expected to be between $150 million and $200 million.

• A low single-digit decline in noninterest income, primarily due to the impact of regulatory changes.

• A low single-digit increase in noninterest expenses, primarily due to an increase in employee benefits expense.

• Income tax expense to approximate 36 percent of income before income taxes less approximately $60 million of permanent differences related to low-income housing and bank-owned life insurance.

• Commence a share repurchase program that, combined with dividend payments, results in a payout of less than 50 percent of earnings.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 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 the Corporation and methodologies in effect at December 31, 2010 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses fourth quarter 2010 results compared to third quarter 2010.

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

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Business Bank	$	174		$	133		$	64
Retail Bank		(14	)		(7	)		(12	)
Wealth & Institutional Management		(10	)		(10	)		5
		150			116			57
Finance		(60	)		(58	)		(62	)
Other (a)		6			1			(24	)
Total	$	96		$	59		$	(29	)

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

Business Bank

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income (FTE)	$	341		$	336		$	343
Provision for loan losses		8			57			180
Noninterest income		81			69			77
Noninterest expenses		158			155			165
Net income		174			133			64
Net credit-related charge-offs		73			99			183
Selected average balances:
Assets		30,489			30,309			32,655
Loans		29,947			29,940			32,289
Deposits		19,892			19,266			16,944
Net interest margin		4.51	%		4.45	%		4.21	%

• Average loans increased $7 million, reflecting increases in National Dealer Services, Mortgage Banker Finance and Energy Lending largely offset by decreases in Commercial Real Estate, Middle Market and Global Corporate Banking.

• Average deposits increased $626 million, primarily due to increases in Middle Market and Technology and Life Sciences.

• The net interest margin of 4.51 percent increased six basis points, primarily due to increases in loan spreads and deposit balances, partially offset by a decrease in deposit spreads.

• The provision for loan losses decreased $49 million, primarily due to a decrease in Middle Market.

• Noninterest income increased $12 million, primarily due to an increase in commercial lending fees.

• Noninterest expenses increased $3 million, primarily due to increases in incentive compensation included in corporate overhead and the provision for credit losses on lending-related commitments, partially offset by a decrease in other real estate expense.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 8

Retail Bank

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income (FTE)	$	134		$	133		$	129
Provision for loan losses		29			24			36
Noninterest income		43			45			48
Noninterest expenses		169			165			161
Net loss		(14	)		(7	)		(12	)
Net credit-related charge-offs		22			19			30
Selected average balances:
Assets		5,647			5,777			6,257
Loans		5,192			5,314			5,733
Deposits		17,271			16,972			17,020
Net interest margin		3.07	%		3.10	%		3.02	%

• Average loans decreased $122 million, reflecting declines across all markets and business lines.

• Average deposits increased $299 million, primarily due to increases in transaction and money market deposits, partially offset by a decline in customer certificates of deposit.

• The net interest margin of 3.07 percent decreased three basis points, primarily due to decreases in deposit spreads and loan balances.

• The provision for loan losses increased $5 million, primarily due to an increase in Personal Banking in the Midwest market.

• Noninterest income decreased $2 million, primarily due to a decrease in service charges on deposit accounts, largely the result of the impact of Regulation E on overdraft fees.

• Noninterest expenses increased $4 million, primarily due to an increase in incentive compensation included in corporate overhead.

Wealth and Institutional Management

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income (FTE)	$	42		$	41		$	42
Provision for loan losses		23			37			19
Noninterest income		59			59			60
Noninterest expenses		93			78			76
Net income (loss)		(10	)		(10	)		5
Net credit-related charge-offs		18			14			12
Selected average balances:
Assets		4,834			4,855			4,841
Loans		4,820			4,824			4,746
Deposits		2,730			2,606			2,849
Net interest margin		3.43	%		3.42	%		3.50	%

• Average loans decreased $4 million.

• Average deposits increased $124 million, primarily due to increases in transaction and money market deposits.

• The net interest margin of 3.43 percent increased one basis point.

• The provision for loan losses decreased $14 million, primarily due to a decrease in the Western market.

• Noninterest expenses increased $15 million, primarily due to increases in salaries expense, outside processing fees, litigation and operational losses, and incentive compensation included in corporate overhead.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 9

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 December 31, 2010 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses fourth quarter 2010 results compared to third quarter 2010.

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

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Midwest	$	35		$	49		$	12
Western		41			13			6
Texas		16			14			13
Florida		1			(6	)		3
Other Markets		48			33			23
International		9			13			—
		150			116			57
Finance & Other Businesses (a)		(54	)		(57	)		(86	)
Total	$	96		$	59		$	(29	)

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

Midwest Market

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income (FTE)	$	202		$	200		$	204
Provision for loan losses		46			38			102
Noninterest income		99			99			106
Noninterest expenses		201			185			193
Net income		35			49			12
Net credit-related charge-offs		52			61			97
Selected average balances:
Assets		14,506			14,445			15,729
Loans		14,219			14,276			15,449
Deposits		17,959			17,777			17,186
Net interest margin		4.45	%		4.45	%		4.70	%

• Average loans decreased $57 million, with declines in most business lines, partially offset by increases in National Dealer Services and Global Corporate Banking.

• Average deposits increased $182 million, primarily due to increases in Small Business Banking and Middle Market, partially offset by a decrease in Global Corporate Banking.

• The provision for loan losses increased $8 million, primarily due to increases in Global Corporate Banking, Commercial Real Estate and Personal Banking, partially offset by a decrease in Middle Market.

• Noninterest expenses increased $16 million, primarily due to increases in incentive compensation included in corporate overhead, litigation and operational losses and outside processing fees.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 10

Western Market

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income (FTE)	$	158		$	157		$	163
Provision for loan losses		11			51			79
Noninterest income		35			31			33
Noninterest expenses		109			108			110
Net income		41			13			6
Net credit-related charge-offs		43			58			85
Selected average balances:
Assets		12,698			12,746			13,484
Loans		12,497			12,556			13,289
Deposits		12,448			11,793			11,900
Net interest margin		5.01	%		4.96	%		4.85	%

• Average loans decreased $59 million, primarily due to decreases in Commercial Real Estate and Middle Market, partially offset by an increase in National Dealer Services.

• Average deposits increased $655 million, primarily due to increases in Middle Market, the Financial Services Division and Technology and Life Sciences.

• The net interest margin of 5.01 percent increased five basis points, primarily due to increases in loan spreads and deposit balances.

• The provision for loan losses decreased $40 million, primarily due to decreases in Private Banking, Middle Market and Commercial Real Estate.

• Noninterest income increased $4 million, primarily due to an increase in commercial lending fees.

Texas Market

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income (FTE)	$	80		$	78		$	78
Provision for loan losses		15			17			20
Noninterest income		27			21			23
Noninterest expenses		67			61			61
Net income		16			14			13
Total net credit-related charge-offs		9			5			13
Selected average balances:
Assets		6,653			6,556			7,118
Loans		6,435			6,357			6,934
Deposits		5,557			5,443			4,737
Net interest margin		4.91	%		4.87	%		4.46	%

• Average loans increased $78 million, primarily due to increases in Middle Market and Energy Lending, partially offset by a decrease in Commercial Real Estate.

• Average deposits increased $114 million, primarily due to increases in Small Business Banking and Technology and Life Sciences.

• The net interest margin of 4.91 percent increased four basis points, primarily due to increases in loan spreads and deposit balances.

• The provision for loan losses decreased $2 million, primarily due to a decrease in Commercial Real Estate, partially offset by an increase in Energy Lending.

• Noninterest income increased $6 million, primarily due to an increase in commercial lending fees.

• Noninterest expenses increased $6 million, primarily due to increases in the provision for credit losses on lending-related commitments and incentive compensation included in corporate overhead.

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 11

Florida Market

(dollar amounts in millions)	4th Qtr ‘10			3rd Qtr ‘10			4th Qtr ‘09
Net interest income (FTE)	$	11		$	10		$	10
Provision for loan losses		4			10			—
Noninterest income		3			4			3
Noninterest expenses		9			13			9
Net income (loss)		1			(6	)		3
Net credit-related charge-offs		7			6			4
Selected average balances:
Assets		1,587			1,528			1,608
Loans		1,612			1,549			1,613
Deposits		375			364			333
Net interest margin		2.64	%		2.61	%		2.57	%

• Average loans increased $63 million, primarily due to an increase in National Dealer Services.

• Average deposits increased $11 million, primarily due to an increase in Private Banking, partially offset by a decrease in Global Corporate Banking.

• The net interest margin of 2.64 percent increased three basis points, primarily due to an increase in deposit spreads.

• The provision for loan losses decreased $6 million, reflecting decreases in most business lines.

Conference Call and Webcast

Comerica will host a conference call to review fourth quarter and full-year 2010 financial results at 7 a.m. CT Tuesday, January 18, 2011. Interested parties may access the conference call by calling (800) 309-2262 or (706) 679-5261 (event ID No. 38040930). 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 through January 31, 2011. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 38040930). A replay of the Webcast can also be accessed via Comerica’s “Investor Relations” page at www.comerica.com.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three major business segments: the Business Bank, the Retail Bank, and Wealth & 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 and Mexico.

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

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COMERICA REPORTS FOURTH QUARTER NET INCOME OF $96 MILLION – 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 further economic downturns, changes in the pace of an economic recovery and related changes in employment levels, changes in real estate values, fuel prices, energy costs or other events that could affect customer income levels or general economic conditions, the effects of recently enacted legislation, actions taken by or proposed by the U.S. Department of Treasury, the Board of Governors of the Federal Reserve System, the Texas Department of Banking and the Federal Deposit Insurance Corporation, legislation or regulations enacted in the future, and the impact and expiration of such legislation and regulatory actions, 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, fires, droughts 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, the interdependence of financial service companies and adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. For discussion of factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. In particular, please refer to “Item 1A. Risk Factors” beginning on page 11 of Comerica’s Annual Report on Form 10-K for the year ended December 31, 2009, “Item 1A. Risk Factors” beginning on page 67 of Comerica’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2010, “Item 1A. Risk Factors” beginning on page 71 of Comerica’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2010 and “Item 1A. Risk Factors” beginning on page 72 of Comerica’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2010. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this news release or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

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

CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)

Comerica Incorporated and Subsidiaries

	Three Months Ended									Years Ended
	December 31, 2010			September 30, 2010			December 31, 2009			December 31,
(in millions, except per share data)										2010			2009
PER COMMON SHARE AND COMMON STOCK DATA
Diluted net income (loss)	$	0.53		$	0.33		$	(0.42	)	$	0.88		$	(0.79	)
Cash dividends declared		0.10			0.05			0.05			0.25			0.20
Common shareholders’ equity (at period end)		32.82			33.19			32.27
Average diluted shares (in thousands)		178,266			177,686			149,445			173,026			149,386
KEY RATIOS
Return on average common shareholders’ equity		6.53	%		4.07	%		(5.10	)%		2.74	%		(2.37	)%
Return on average assets		0.71			0.43			(0.19	)		0.50			0.03
Tier 1 common capital ratio (a) (b)		10.08			9.96			8.18
Tier 1 risk-based capital ratio (b)		10.08			9.96			12.46
Total risk-based capital ratio (b)		14.47			14.37			16.93
Leverage ratio (b)		11.25			10.91			13.25
Tangible common equity ratio (a)		10.54			10.39			7.99
AVERAGE BALANCES
Commercial loans	$	21,464		$	20,967		$	21,971		$	21,090		$	24,534
Real estate construction loans		2,371			2,625			3,703			2,839			4,140
Commercial mortgage loans		9,965			10,257			10,393			10,244			10,415
Residential mortgage loans		1,600			1,590			1,664			1,607			1,756
Consumer loans		2,367			2,421			2,517			2,429			2,553
Lease financing		1,044			1,064			1,181			1,086			1,231
International loans		1,188			1,178			1,324			1,222			1,533
Total loans		39,999			40,102			42,753			40,517			46,162
Earning assets		49,102			50,189			53,953			51,004			58,162
Total assets		53,756			54,729			58,396			55,553			62,809
Noninterest-bearing deposits		15,607			14,920			14,430			15,094			12,900
Interest-bearing core deposits		24,289			23,866			22,312			23,624			22,435
Total core deposits		39,896			38,786			36,742			38,718			35,335
Common shareholders’ equity		5,870			5,842			4,876			5,625			4,959
Total shareholders’ equity		5,870			5,842			7,024			6,068			7,099
NET INTEREST INCOME
Net interest income (fully taxable equivalent basis)	$	406		$	405		$	398		$	1,651		$	1,575
Fully taxable equivalent adjustment		1			1			2			5			8
Net interest margin		3.29	%		3.23	%		2.94	%		3.24	%		2.72	%
CREDIT QUALITY
Nonaccrual loans	$	1,080		$	1,163		$	1,165
Reduced-rate loans		43			28			16
Total nonperforming loans		1,123			1,191			1,181
Foreclosed property		112			120			111
Total nonperforming assets		1,235			1,311			1,292
Loans past due 90 days or more and still accruing		62			104			101
Gross loan charge-offs		140			145			232		$	627		$	895
Loan recoveries		27			13			8			63			27
Net loan charge-offs		113			132			224			564			868
Lending-related commitment charge-offs		—			—			1			—			1
Total net credit-related charge-offs		113			132			225			564			869
Allowance for loan losses		901			957			985
Allowance for credit losses on lending-related commitments		35			38			37
Total allowance for credit losses		936			995			1,022
Allowance for loan losses as a percentage of total loans		2.24	%		2.38	%		2.34	%
Net loan charge-offs as a percentage of average total loans		1.13			1.32			2.09			1.39	%		1.88	%
Net credit-related charge-offs as a percentage of average total loans		1.13			1.32			2.10			1.39			1.88
Nonperforming assets as a percentage of total loans and foreclosed property		3.06			3.24			3.06
Allowance for loan losses as a percentage of total nonperforming loans		80			80			83

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

(b) December 31, 2010 ratios are estimated.

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CONSOLIDATED BALANCE SHEETS

Comerica Incorporated and Subsidiaries

(in millions, except share data)	December 31, 2010			September 30, 2010			December 31, 2009
	(unaudited)			(unaudited)
ASSETS
Cash and due from banks	$	668		$	863		$	774
Federal funds sold and securities purchased under agreements to resell		—			100			—
Interest-bearing deposits with banks		1,415			3,031			4,843
Other short-term investments		141			115			138
Investment securities available-for-sale		7,560			6,816			7,416
Commercial loans		22,145			21,432			21,690
Real estate construction loans		2,253			2,444			3,461
Commercial mortgage loans		9,767			10,180			10,457
Residential mortgage loans		1,619			1,586			1,651
Consumer loans		2,311			2,403			2,511
Lease financing		1,009			1,053			1,139
International loans		1,132			1,182			1,252
Total loans		40,236			40,280			42,161
Less allowance for loan losses		(901	)		(957	)		(985	)
Net loans		39,335			39,323			41,176
Premises and equipment		630			639			644
Customers’ liability on acceptances outstanding		9			13			11
Accrued income and other assets		3,909			4,104			4,247
Total assets	$	53,667		$	55,004		$	59,249
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	15,538		$	15,763		$	15,871
Money market and NOW deposits		17,622			17,288			14,450
Savings deposits		1,397			1,363			1,342
Customer certificates of deposit		5,482			5,723			6,413
Other time deposits		—			—			1,047
Foreign office time deposits		432			494			542
Total interest-bearing deposits		24,933			24,868			23,794
Total deposits		40,471			40,631			39,665
Short-term borrowings		130			179			462
Acceptances outstanding		9			13			11
Accrued expenses and other liabilities		1,126			1,085			1,022
Medium- and long-term debt		6,138			7,239			11,060
Total liabilities		47,874			49,147			52,220
Fixed rate cumulative perpetual preferred stock, series F, no par value, $1,000 liquidation value per share:
Authorized - 2,250,000 shares at 12/31/09
Issued - 2,250,000 shares at 12/31/09		—			—			2,151
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 203,878,110 shares at 12/31/10 and 9/30/10, and 178,735,252 shares at 12/31/09		1,019			1,019			894
Capital surplus		1,481			1,473			740
Accumulated other comprehensive loss		(389	)		(238	)		(336	)
Retained earnings		5,247			5,171			5,161
Less cost of common stock in treasury - 27,342,518 shares at 12/31/10, 27,394,831 shares at 9/30/10, and 27,555,623 shares at 12/31/09		(1,565	)		(1,568	)		(1,581	)
Total shareholders’ equity		5,793			5,857			7,029
Total liabilities and shareholders’ equity	$	53,667		$	55,004		$	59,249

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CONSOLIDATED STATEMENTS OF INCOME (unaudited)

Comerica Incorporated and Subsidiaries

	Three Months Ended						Years Ended
	December 31,						December 31,
(in millions, except per share data)	2010			2009			2010			2009
INTEREST INCOME
Interest and fees on loans	$	394		$	424		$	1,617		$	1,767
Interest on investment securities		49			53			226			329
Interest on short-term investments		2			2			10			9
Total interest income		445			479			1,853			2,105
INTEREST EXPENSE
Interest on deposits		24			52			115			372
Interest on short-term borrowings		1			—			1			2
Interest on medium- and long-term debt		15			31			91			164
Total interest expense		40			83			207			538
Net interest income		405			396			1,646			1,567
Provision for loan losses		57			256			480			1,082
Net interest income after provision for loan losses		348			140			1,166			485
NONINTEREST INCOME
Service charges on deposit accounts		49			56			208			228
Fiduciary income		39			38			154			161
Commercial lending fees		29			21			95			79
Letter of credit fees		20			19			76			69
Card fees		15			14			58			51
Foreign exchange income		11			11			39			41
Bank-owned life insurance		14			9			40			35
Brokerage fees		7			7			25			31
Net securities gains		—			10			3			243
Other noninterest income		31			29			91			112
Total noninterest income		215			214			789			1,050
NONINTEREST EXPENSES
Salaries		205			174			740			687
Employee benefits		43			51			179			210
Total salaries and employee benefits		248			225			919			897
Net occupancy expense		42			43			162			162
Equipment expense		16			16			63			62
Outside processing fee expense		27			23			96			97
Software expense		23			23			89			84
FDIC insurance expense		15			15			62			90
Legal fees		9			12			35			37
Advertising expense		8			7			30			29
Other real estate expense		5			22			29			48
Litigation and operational losses		6			3			11			10
Provision for credit losses on lending-related commitments		(3	)		3			(2	)		—
Other noninterest expenses		41			33			146			134
Total noninterest expenses		437			425			1,640			1,650
Income (loss) from continuing operations before income taxes		126			(71	)		315			(115	)
Provision (benefit) for income taxes		30			(42	)		55			(131	)
Income (loss) from continuing operations		96			(29	)		260			16
Income from discontinued operations, net of tax		—			—			17			1
NET INCOME (LOSS)		96			(29	)		277			17
Less:
Preferred stock dividends		—			33			123			134
Income allocated to participating securities		1			—			1			1
Net income (loss) attributable to common shares	$	95		$	(62	)	$	153		$	(118	)
Basic earnings per common share:
Income (loss) from continuing operations	$	0.54		$	(0.42	)	$	0.79		$	(0.80	)
Net income (loss)		0.54			(0.42	)		0.90			(0.79	)
Diluted earnings per common share:
Income (loss) from continuing operations		0.53			(0.42	)		0.78			(0.80	)
Net income (loss)		0.53			(0.42	)		0.88			(0.79	)
Cash dividends declared on common stock		18			8			44			30
Cash dividends declared per common share		0.10			0.05			0.25			0.20

-15-

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME (unaudited)

Comerica Incorporated and Subsidiaries

	Fourth			Third			Second		First			Fourth			Fourth Quarter 2010 Compared To:
	Quarter			Quarter			Quarter		Quarter			Quarter			Third Quarter 2010						Fourth Quarter 2009
(in millions, except per share data)	2010			2010			2010		2010			2009			Amount			Percent			Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	394		$	399		$	412	$	412		$	424		$	(5	)		(1	)%	$	(30	)		(7	)%
Interest on investment securities		49			55			61		61			53			(6	)		(9	)		(4	)		(6	)
Interest on short-term investments		2			2			3		3			2			—			(33	)		—			(22	)
Total interest income		445			456			476		476			479			(11	)		(2	)		(34	)		(7	)
INTEREST EXPENSE
Interest on deposits		24			27			29		35			52			(3	)		(7	)		(28	)		(52	)
Interest on short-term borrowings		1			—			—		—			—			1			(35	)		1			N/M
Interest on medium- and long-term debt		15			25			25		26			31			(10	)		(36	)		(16	)		(49	)
Total interest expense		40			52			54		61			83			(12	)		(21	)		(43	)		(51	)
Net interest income		405			404			422		415			396			1			—			9			2
Provision for loan losses		57			122			126		175			256			(65	)		(53	)		(199	)		(78	)
Net interest income after provision for loan losses		348			282			296		240			140			66			23			208			N/M
NONINTEREST INCOME
Service charges on deposit accounts		49			51			52		56			56			(2	)		(6	)		(7	)		(13	)
Fiduciary income		39			38			38		39			38			1			3			1			1
Commercial lending fees		29			22			22		22			21			7			37			8			38
Letter of credit fees		20			19			19		18			19			1			3			1			4
Card fees		15			15			15		13			14			—			4			1			14
Foreign exchange income		11			8			10		10			11			3			28			—			3
Bank-owned life insurance		14			9			9		8			9			5			63			5			57
Brokerage fees		7			6			6		6			7			1			13			—			(1	)
Net securities gains		—			—			1		2			10			—			N/M			(10	)		(99	)
Other noninterest income		31			18			22		20			29			13			64			2			4
Total noninterest income		215			186			194		194			214			29			15			1			—
NONINTEREST EXPENSES
Salaries		205			187			179		169			174			18			10			31			17
Employee benefits		43			47			45		44			51			(4	)		(6	)		(8	)		(15	)
Total salaries and employee benefits		248			234			224		213			225			14			7			23			10
Net occupancy expense		42			40			39		41			43			2			4			(1	)		(3	)
Equipment expense		16			15			15		17			16			1			6			—			4
Outside processing fee expense		27			23			23		23			23			4			17			4			20
Software expense		23			22			22		22			23			1			11			—			7
FDIC insurance expense		15			14			16		17			15			1			1			—			(5	)
Legal fees		9			9			9		8			12			—			(3	)		(3	)		(26	)
Advertising expense		8			7			7		8			7			1			3			1			5
Other real estate expense		5			7			5		12			22			(2	)		(40	)		(17	)		(79	)
Litigation and operational losses		6			2			2		1			3			4			N/M			3			N/M
Provision for credit losses on lending-related commitments		(3	)		(6	)		—		7			3			3			35			(6	)		N/M
Other noninterest expenses		41			35			35		35			33			6			22			8			17
Total noninterest expenses		437			402			397		404			425			35			9			12			3
Income (loss) from continuing operations before income taxes		126			66			93		30			(71	)		60			88			197			N/M
Provision (benefit) for income taxes		30			7			23		(5	)		(42	)		23			N/M			72			N/M
Income (loss) from continuing operations		96			59			70		35			(29	)		37			61			125			N/M
Income from discontinued operations, net of tax		—			—			—		17			—			—			—			—			—
NET INCOME (LOSS)		96			59			70		52			(29	)		37			61			125			N/M
Less:
Preferred stock dividends		—			—			—		123			33			—			—			(33	)		N/M
Income allocated to participating securities		1			—			1		—			—			1			62			1			N/M
Net income (loss) attributable to common shares	$	95		$	59		$	69	$	(71	)	$	(62	)	$	36			61	%	$	157			N/M	%
Basic earnings per common share:
Income (loss) from continuing operations	$	0.54		$	0.34		$	0.40	$	(0.57	)	$	(0.42	)	$	0.20			59	%	$	0.96			N/M	%
Net income (loss)		0.54			0.34			0.40		(0.46	)		(0.42	)		0.20			59			0.96			N/M
Diluted earnings per common share:
Income (loss) from continuing operations		0.53			0.33			0.39		(0.57	)		(0.42	)		0.20			61			0.95			N/M
Net income (loss)		0.53			0.33			0.39		(0.46	)		(0.42	)		0.20			61			0.95			N/M
Cash dividends declared on common stock		18			9			8		9			8			9			N/M			10			N/M
Cash dividends declared per common share		0.10			0.05			0.05		0.05			0.05			0.05			N/M			0.05			N/M

N/M - Not meaningful

-16-

ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES (unaudited)

Comerica Incorporated and Subsidiaries

	2010												2009
(in millions)	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr
Balance at beginning of period	$	957		$	967		$	987		$	985		$	953
Loan charge-offs:
Commercial		43			38			65			49			113
Real estate construction:
Commercial Real Estate business line (a)		34			40			30			71			33
Other business lines (b)		—			1			—			3			—
Total real estate construction		34			41			30			74			33
Commercial mortgage:
Commercial Real Estate business line (a)		9			16			12			16			27
Other business lines (b)		34			40			36			28			25
Total commercial mortgage		43			56			48			44			52
Residential mortgage		5			2			5			2			6
Consumer		15			7			9			8			9
Lease financing		—			—			1			—			6
International		—			1			—			7			13
Total loan charge-offs		140			145			158			184			232
Recoveries on loans previously charged-off:
Commercial		7			7			4			7			7
Real estate construction		3			1			6			1			—
Commercial mortgage		10			2			1			3			1
Residential mortgage		1			—			—			—			—
Consumer		2			1			1			—			—
Lease financing		4			1			—			—			—
International		—			1			—			—			—
Total recoveries		27			13			12			11			8
Net loan charge-offs		113			132			146			173			224
Provision for loan losses		57			122			126			175			256
Balance at end of period	$	901		$	957		$	967		$	987		$	985
Allowance for loan losses as a percentage of total loans		2.24	%		2.38	%		2.38	%		2.42	%		2.34	%
Net loan charge-offs as a percentage of average total loans		1.13			1.32			1.44			1.68			2.09
Net credit-related charge-offs as a percentage of average total loans		1.13			1.32			1.44			1.68			2.10

(a) Primarily charge-offs of loans to real estate investors and developers.

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

ANALYSIS OF THE ALLOWANCE FOR CREDIT LOSSES ON LENDING-RELATED COMMITMENTS (unaudited)

Comerica Incorporated and Subsidiaries

	2010										2009
(in millions)	4th Qtr			3rd Qtr			2nd Qtr		1st Qtr		4th Qtr
Balance at beginning of period	$	38		$	44		$	44	$	37	$	35
Less: Charge-offs on lending-related commitments (a)		—			—			—		—		1
Add: Provision for credit losses on lending-related commitments		(3	)		(6	)		—		7		3
Balance at end of period	$	35		$	38		$	44	$	44	$	37
Unfunded lending-related commitments sold	$	—		$	—		$	2	$	—	$	3

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

-17-

NONPERFORMING ASSETS (unaudited)

Comerica Incorporated and Subsidiaries

	2010												2009
(in millions)	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS
Nonaccrual loans:
Business loans:
Commercial	$	252		$	258		$	239		$	209		$	238
Real estate construction:
Commercial Real Estate business line (a)		259			362			385			516			507
Other business lines (b)		4			4			4			3			4
Total real estate construction		263			366			389			519			511
Commercial mortgage:
Commercial Real Estate business line (a)		181			153			135			105			127
Other business lines (b)		302			304			257			226			192
Total commercial mortgage		483			457			392			331			319
Lease financing		7			10			11			11			13
International		2			2			3			4			22
Total nonaccrual business loans		1,007			1,093			1,034			1,074			1,103
Retail loans:
Residential mortgage		55			59			53			58			50
Consumer:
Home equity		5			5			7			8			8
Other consumer		13			6			4			5			4
Total consumer		18			11			11			13			12
Total nonaccrual retail loans		73			70			64			71			62
Total nonaccrual loans		1,080			1,163			1,098			1,145			1,165
Reduced-rate loans		43			28			23			17			16
Total nonperforming loans		1,123			1,191			1,121			1,162			1,181
Foreclosed property		112			120			93			89			111
Total nonperforming assets	$	1,235		$	1,311		$	1,214		$	1,251		$	1,292
Nonperforming loans as a percentage of total loans		2.79	%		2.96	%		2.76	%		2.85	%		2.80	%
Nonperforming assets as a percentage of total loans and foreclosed property		3.06			3.24			2.98			3.06			3.06
Allowance for loan losses as a percentage of total nonperforming loans		80			80			86			85			83
Loans past due 90 days or more and still accruing	$	62		$	104		$	115		$	83		$	101
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	1,163		$	1,098		$	1,145		$	1,165		$	1,194
Loans transferred to nonaccrual (c)		180			294			199			245			266
Nonaccrual business loan gross charge-offs (d)		(120	)		(136	)		(143	)		(174	)		(217	)
Loans transferred to accrual status (c)		(4	)		(10	)		—			—			—
Nonaccrual business loans sold (e)		(41	)		(12	)		(47	)		(44	)		(10	)
Payments/Other (f)		(98	)		(71	)		(56	)		(47	)		(68	)
Nonaccrual loans at end of period	$	1,080		$	1,163		$	1,098		$	1,145		$	1,165
(a)      Primarily loans to real estate investors and developers. (b)      Primarily loans secured by owner-occupied real estate. (c)      Based on an analysis of nonaccrual loans with book balances greater than $2 million. (d)      Analysis of gross loan charge-offs:
Nonaccrual business loans	$	120		$	136		$	143		$	174		$	217
Performing watch list loans		—			—			1			—			—
Consumer and residential mortgage loans		20			9			14			10			15
Total gross loan charge-offs	$	140		$	145		$	158		$	184		$	232
(e)      Analysis of loans sold:
Nonaccrual business loans	$	41		$	12		$	47		$	44		$	10
Performing watch list loans		29			7			15			12			1
Total loans sold	$	70		$	19		$	62		$	56		$	11

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

-18-

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)

Comerica Incorporated and Subsidiaries

	Years Ended
	December 31, 2010								December 31, 2009
(dollar amounts in millions)	Average Balance			Interest		Average Rate			Average Balance			Interest		Average Rate
Commercial loans	$	21,090		$	820		3.89	%	$	24,534		$	890		3.63	%
Real estate construction loans		2,839			90		3.17			4,140			121		2.92
Commercial mortgage loans		10,244			421		4.10			10,415			437		4.20
Residential mortgage loans		1,607			85		5.30			1,756			97		5.53
Consumer loans		2,429			86		3.54			2,553			94		3.68
Lease financing		1,086			42		3.88			1,231			40		3.25
International loans		1,222			48		3.94			1,533			58		3.79
Business loan swap income		—			28		—			—			34		—
Total loans		40,517			1,620		4.00			46,162			1,771		3.84
Auction-rate securities available-for-sale		745			8		1.01			1,010			15		1.47
Other investment securities available-for-sale		6,419			220		3.51			8,378			318		3.88
Total investment securities available-for-sale		7,164			228		3.24			9,388			333		3.61
Federal funds sold and securities purchased under agreements to resell		6			—		0.36			18			—		0.32
Interest-bearing deposits with banks (a)		3,191			8		0.25			2,440			6		0.25
Other short-term investments		126			2		1.58			154			3		1.74
Total earning assets		51,004			1,858		3.65			58,162			2,113		3.64
Cash and due from banks		825								883
Allowance for loan losses		(1,019	)							(947	)
Accrued income and other assets		4,743								4,711
Total assets	$	55,553							$	62,809
Money market and NOW deposits	$	16,355			51		0.31		$	12,965			63		0.49
Savings deposits		1,394			1		0.08			1,339			2		0.11
Customer certificates of deposit		5,875			53		0.90			8,131			183		2.26
Total interest-bearing core deposits		23,624			105		0.44			22,435			248		1.11
Other time deposits		306			9		3.04			4,103			121		2.96
Foreign office time deposits		462			1		0.31			653			2		0.29
Total interest-bearing deposits		24,392			115		0.47			27,191			371		1.37
Short-term borrowings		216			1		0.25			1,000			2		0.24
Medium- and long-term debt		8,684			91		1.05			13,334			165		1.23
Total interest-bearing sources		33,292			207		0.62			41,525			538		1.29
Noninterest-bearing deposits		15,094								12,900
Accrued expenses and other liabilities		1,099								1,285
Total shareholders’ equity		6,068								7,099
Total liabilities and shareholders’ equity	$	55,553							$	62,809
Net interest income/rate spread (FTE)				$	1,651		3.03					$	1,575		2.35
FTE adjustment				$	5							$	8
Impact of net noninterest-bearing sources of funds							0.21								0.37
Net interest margin (as a percentage of average earning assets) (FTE) (a)							3.24	%							2.72	%

(a) Excess liquidity, represented by average balances deposited with the Federal Reserve Bank, reduced the net interest margin by 20 basis points and 11 basis points in 2010 and 2009, respectively. Excluding excess liquidity, the net interest margin would have been 3.44% in 2010 and 2.83% in 2009. See Reconciliation of Non-GAAP Financial Measures.

-19-

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited)

Comerica Incorporated and Subsidiaries

	Three Months Ended
	December 31, 2010								September 30, 2010								December 31, 2009
(dollar amounts in millions)	Average Balance			Interest		Average Rate			Average Balance			Interest		Average Rate			Average Balance			Interest		Average Rate
Commercial loans	$	21,464		$	206		3.80	%	$	20,967		$	203		3.84	%	$	21,971		$	212		3.84	%
Real estate construction loans		2,371			21		3.50			2,625			21		3.19			3,703			27		2.90
Commercial mortgage loans		9,965			100		3.97			10,257			105		4.06			10,393			110		4.19
Residential mortgage loans		1,600			20		5.11			1,590			21		5.25			1,664			21		5.01
Consumer loans		2,367			21		3.50			2,421			21		3.53			2,517			23		3.59
Lease financing		1,044			11		4.36			1,064			10		3.69			1,181			11		3.80
International loans		1,188			11		3.86			1,178			12		3.89			1,324			12		3.73
Business loan swap income		—			4		—			—			7		—			—			9		—
Total loans		39,999			394		3.92			40,102			400		3.96			42,753			425		3.95
Auction-rate securities available-for-sale		617			2		0.92			673			1		0.99			923			3		1.37
Other investment securities available-for-sale		6,495			48		3.07			6,233			54		3.54			7,664			51		2.67
Total investment securities available-for-sale		7,112			50		2.87			6,906			55		3.27			8,587			54		2.53
Federal funds sold and securities purchased under agreements to resell		8			—		0.32			13			—		0.31			1			—		0.29
Interest-bearing deposits with banks (a)		1,856			1		0.25			3,047			2		0.25			2,480			1		0.25
Other short-term investments		127			1		1.40			121			—		1.53			132			1		1.55
Total earning assets		49,102			446		3.62			50,189			457		3.64			53,953			481		3.55
Cash and due from banks		871								843								831
Allowance for loan losses		(979	)							(1,003	)							(1,048	)
Accrued income and other assets		4,762								4,700								4,660
Total assets	$	53,756							$	54,729							$	58,396
Money market and NOW deposits	$	17,302			13		0.29		$	16,681			13		0.31		$	14,113			14		0.39
Savings deposits		1,385			—		0.09			1,377			1		0.08			1,376			—		0.08
Customer certificates of deposit		5,602			11		0.80			5,808			12		0.87			6,823			25		1.42
Total interest-bearing core deposits		24,289			24		0.39			23,866			26		0.43			22,312			39		0.69
Other time deposits		—			—		—			65			—		0.51			1,493			12		3.22
Foreign office time deposits		460			—		0.45			479			1		0.36			550			—		0.22
Total interest-bearing deposits		24,749			24		0.40			24,410			27		0.43			24,355			51		0.83
Short-term borrowings		174			1		0.27			208			—		0.35			222			—		0.09
Medium- and long-term debt		6,201			15		1.02			8,245			25		1.21			11,140			32		1.12
Total interest-bearing sources		31,124			40		0.52			32,863			52		0.63			35,717			83		0.92
Noninterest-bearing deposits		15,607								14,920								14,430
Accrued expenses and other liabilities		1,155								1,104								1,225
Total shareholders’ equity		5,870								5,842								7,024
Total liabilities and shareholders’ equity	$	53,756							$	54,729							$	58,396
Net interest income/rate spread (FTE)				$	406		3.10					$	405		3.01					$	398		2.63
FTE adjustment				$	1							$	1							$	2
Impact of net noninterest-bearing sources of funds							0.19								0.22								0.31
Net interest margin (as a percentage of average earning assets) (FTE) (a)							3.29	%							3.23	%							2.94	%

(a) Excess liquidity, represented by average balances deposited with the Federal Reserve Bank, reduced the net interest margin by 12 basis points and 19 basis points in the fourth and third quarters of 2010, respectively, and by 13 basis points in the fourth quarter of 2009. Excluding excess liquidity, the net interest margin would have been 3.41%, 3.42% and 3.07% in each respective period. See Reconciliation of Non-GAAP Financial Measures.

-20-

CONSOLIDATED STATISTICAL DATA (unaudited)

Comerica Incorporated and Subsidiaries

(in millions, except per share data)	December 31, 2010			September 30, 2010			June 30, 2010			March 31, 2010			December 31, 2009
Commercial loans:
Floor plan	$	2,017		$	1,693		$	1,586		$	1,351		$	1,367
Other		20,128			19,739			19,565			19,405			20,323
Total commercial loans		22,145			21,432			21,151			20,756			21,690
Real estate construction loans:
Commercial Real Estate business line (a)		1,826			2,023			2,345			2,754			3,002
Other business lines (b)		427			421			429			448			459
Total real estate construction loans		2,253			2,444			2,774			3,202			3,461
Commercial mortgage loans:
Commercial Real Estate business line (a)		1,937			2,091			2,035			1,944			1,889
Other business lines (b)		7,830			8,089			8,283			8,414			8,568
Total commercial mortgage loans		9,767			10,180			10,318			10,358			10,457
Residential mortgage loans		1,619			1,586			1,606			1,631			1,651
Consumer loans:
Home equity		1,704			1,736			1,761			1,782			1,817
Other consumer		607			667			682			690			694
Total consumer loans		2,311			2,403			2,443			2,472			2,511
Lease financing		1,009			1,053			1,084			1,120			1,139
International loans		1,132			1,182			1,226			1,306			1,252
Total loans	$	40,236		$	40,280		$	40,602		$	40,845		$	42,161
Goodwill	$	150		$	150		$	150		$	150		$	150
Loan servicing rights		5			5			6			6			7
Tier 1 common capital ratio (c) (d)		10.08	%		9.96	%		9.81	%		9.57	%		8.18	%
Tier 1 risk-based capital ratio (d)		10.08			9.96			10.64			10.38			12.46
Total risk-based capital ratio (d)		14.47			14.37			15.03			14.91			16.93
Leverage ratio (d)		11.25			10.91			11.36			11.00			13.25
Tangible common equity ratio (c)		10.54			10.39			10.11			9.68			7.99
Book value per common share	$	32.82		$	33.19		$	32.85		$	32.15		$	32.27
Market value per share for the quarter:
High		43.44			40.21			45.85			39.36			32.30
Low		34.43			33.11			35.44			29.68			26.49
Close		42.24			37.15			36.83			38.04			29.57
Quarterly ratios:
Return on average common shareholders’ equity		6.53	%		4.07	%		4.89	%		(5.61	)%		(5.10	)%
Return on average assets		0.71			0.43			0.50			0.36			(0.19	)
Efficiency ratio		70.38			67.88			64.47			66.45			70.68
Number of banking centers		444			441			437			449			447
Number of employees - full time equivalent		9,001			9,075			9,107			9,215			9,330

(a) Primarily loans to real estate investors and developers.

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

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

(d) December 31, 2010 ratios are estimated.

-21-

PARENT COMPANY ONLY BALANCE SHEETS (unaudited)

Comerica Incorporated

(in millions, except share data)	December 31, 2010			September 30, 2010			December 31, 2009
ASSETS
Cash and due from subsidiary bank	$	—		$	10		$	5
Short-term investments with subsidiary bank		327			793			2,150
Other short-term investments		86			82			86
Investment in subsidiaries, principally banks		5,957			6,039			5,710
Premises and equipment		4			3			4
Other assets		181			202			186
Total assets	$	6,555		$	7,129		$	8,141
LIABILITIES AND SHAREHOLDERS’ EQUITY
Medium- and long-term debt	$	635		$	1,155		$	986
Other liabilities		127			117			126
Total liabilities		762			1,272			1,112
Fixed rate cumulative perpetual preferred stock, series F, no par value, $1,000 liquidation value per share:
Authorized - 2,250,000 shares at 12/31/09
Issued - 2,250,000 shares at 12/31/09		—			—			2,151
Common stock - $5 par value:
Authorized - 325,000,000 shares
Issued - 203,878,110 shares at 12/31/10 and 9/30/10, and 178,735,252 shares at 12/31/09		1,019			1,019			894
Capital surplus		1,481			1,473			740
Accumulated other comprehensive loss		(389	)		(238	)		(336	)
Retained earnings		5,247			5,171			5,161
Less cost of common stock in treasury - 27,342,518 shares at 12/31/10, 27,394,831 shares at 9/30/10, and 27,555,623 shares at 12/31/09		(1,565	)		(1,568	)		(1,581	)
Total shareholders’ equity		5,793			5,857			7,029
Total liabilities and shareholders’ equity	$	6,555		$	7,129		$	8,141

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (unaudited)

Comerica Incorporated and Subsidiaries

												Accumulated
				Common Stock								Other									Total
(in millions, except per share data)	Preferred Stock			Shares Outstanding			Amount		Capital Surplus			Comprehensive Loss			Retained Earnings			Treasury Stock			Shareholders’ Equity
BALANCE AT DECEMBER 31, 2008	$	2,129			150.5		$	894	$	722		$	(309	)	$	5,345		$	(1,629	)	$	7,152
Net income		—			—			—		—			—			17			—			17
Other comprehensive loss, net of tax		—			—			—		—			(27	)		—			—			(27	)
Total comprehensive loss																						(10	)
Cash dividends declared on preferred stock		—			—			—		—			—			(113	)		—			(113	)
Cash dividends declared on common stock ($0.20 per share)		—			—			—		—			—			(30	)		—			(30	)
Purchase of common stock		—			(0.1	)		—		—			—			—			(1	)		(1	)
Accretion of discount on preferred stock		22			—			—		—			—			(22	)		—			—
Net issuance of common stock under employee stock plans		—			0.8			—		(15	)		—			(36	)		48			(3	)
Share-based compensation		—			—			—		32			—			—			—			32
Other		—			—			—		1			—			—			1			2
BALANCE AT DECEMBER 31, 2009	$	2,151			151.2		$	894	$	740		$	(336	)	$	5,161		$	(1,581	)	$	7,029
Net income		—			—			—		—			—			277			—			277
Other comprehensive loss, net of tax		—			—			—		—			(53	)		—			—			(53	)
Total comprehensive income																						224
Cash dividends declared on preferred stock		—			—			—		—			—			(38	)		—			(38	)
Cash dividends declared on common stock ($0.25 per share)		—			—			—		—			—			(44	)		—			(44	)
Purchase of common stock		—			(0.1	)		—		—			—			—			(4	)		(4	)
Issuance of common stock		—			25.1			125		724			—			—			—			849
Redemption of preferred stock		(2,250	)		—			—		—			—			—			—			(2,250	)
Redemption discount accretion on preferred stock		94			—			—		—			—			(94	)		—			—
Accretion of discount on preferred stock		5			—			—		—			—			(5	)		—			—
Net issuance of common stock under employee stock plans		—			0.3			—		(11	)		—			(10	)		19			(2	)
Share-based compensation		—			—			—		32			—			—			—			32
Other		—			—			—		(4	)		—			—			1			(3	)
BALANCE AT DECEMBER 31, 2010	$	—			176.5		$	1,019	$	1,481		$	(389	)	$	5,247		$	(1,565	)	$	5,793

-22-

BUSINESS SEGMENT FINANCIAL RESULTS (unaudited)

Comerica Incorporated and Subsidiaries

(dollar amounts in millions) Three Months Ended December 31, 2010	Business Bank			Retail Bank			Wealth & Institutional Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	341		$	134		$	42		$	(111	)	$	—		$	406
Provision for loan losses		8			29			23			—			(3	)		57
Noninterest income		81			43			59			23			9			215
Noninterest expenses		158			169			93			12			5			437
Provision (benefit) for income taxes (FTE)		82			(7	)		(5	)		(40	)		1			31
Net income (loss)	$	174		$	(14	)	$	(10	)	$	(60	)	$	6		$	96
Net credit-related charge-offs	$	73		$	22		$	18		$	—		$	—		$	113
Selected average balances:
Assets	$	30,489		$	5,647		$	4,834		$	9,228		$	3,558		$	53,756
Loans		29,947			5,192			4,820			28			12			39,999
Deposits		19,892			17,271			2,730			310			153			40,356
Liabilities		19,905			17,232			2,705			7,077			967			47,886
Attributed equity		2,955			620			418			1,047			830			5,870
Statistical data:
Return on average assets (a)		2.29	%		(0.32	)%		(0.82	)%		N/M			N/M			0.71	%
Return on average attributed equity		23.59			(9.28	)		(9.47	)		N/M			N/M			6.53
Net interest margin (b)		4.51			3.07			3.43			N/M			N/M			3.29
Efficiency ratio		37.25			95.17			92.86			N/M			N/M			70.38
Three Months Ended September 30, 2010	Business Bank			Retail Bank			Wealth & Institutional Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	336		$	133		$	41		$	(104	)	$	(1	)	$	405
Provision for loan losses		57			24			37			—			4			122
Noninterest income		69			45			59			12			1			186
Noninterest expenses		155			165			78			2			2			402
Provision (benefit) for income taxes (FTE)		60			(4	)		(5	)		(36	)		(7	)		8
Net income (loss)	$	133		$	(7	)	$	(10	)	$	(58	)	$	1		$	59
Net credit-related charge-offs	$	99		$	19		$	14		$	—		$	—		$	132
Selected average balances:
Assets	$	30,309		$	5,777		$	4,855		$	9,044		$	4,744		$	54,729
Loans		29,940			5,314			4,824			30			(6	)		40,102
Deposits		19,266			16,972			2,606			386			100			39,330
Liabilities		19,230			16,940			2,587			9,224			906			48,887
Attributed equity		2,968			624			412			1,065			773			5,842
Statistical data:
Return on average assets (a)		1.75	%		(0.16	)%		(0.79	)%		N/M			N/M			0.43	%
Return on average attributed equity		17.91			(4.43	)		(9.34	)		N/M			N/M			4.07
Net interest margin (b)		4.45			3.10			3.42			N/M			N/M			3.23
Efficiency ratio		38.16			92.26			78.49			N/M			N/M			67.88
Three Months Ended December 31, 2009	Business Bank			Retail Bank			Wealth & Institutional Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	343		$	129		$	42		$	(126	)	$	10		$	398
Provision for loan losses		180			36			19			—			21			256
Noninterest income		77			48			60			26			3			214
Noninterest expenses		165			161			76			2			21			425
Provision (benefit) for income taxes (FTE)		11			(8	)		2			(40	)		(5	)		(40	)
Net income (loss)	$	64		$	(12	)	$	5		$	(62	)	$	(24	)	$	(29	)
Net credit-related charge-offs	$	183		$	30		$	12		$	—		$	—		$	225
Selected average balances:
Assets	$	32,655		$	6,257		$	4,841		$	10,683		$	3,960		$	58,396
Loans		32,289			5,733			4,746			—			(15	)		42,753
Deposits		16,944			17,020			2,849			1,892			80			38,785
Liabilities		16,903			16,978			2,837			13,722			932			51,372
Attributed equity		3,376			606			373			899			1,770			7,024
Statistical data:
Return on average assets (a)		0.79	%		(0.27	)%		0.38	%		N/M			N/M			(0.19	)%
Return on average attributed equity		7.67			(7.76	)		4.91			N/M			N/M			(5.10	)
Net interest margin (b)		4.21			3.02			3.50			N/M			N/M			2.94
Efficiency ratio		39.03			90.98			75.98			N/M			N/M			70.68

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

(b) 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-

MARKET SEGMENT FINANCIAL RESULTS (unaudited)

Comerica Incorporated and Subsidiaries

(dollar amounts in millions) Three Months Ended December 31, 2010	Midwest			Western			Texas			Florida			Other Markets			International			Finance & Other Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	202		$	158		$	80		$	11		$	48		$	18		$	(111	)	$	406
Provision for loan losses		46			11			15			4			(19	)		3			(3	)		57
Noninterest income		99			35			27			3			10			9			32			215
Noninterest expenses		201			109			67			9			24			10			17			437
Provision (benefit) for income taxes (FTE)		19			32			9			—			5			5			(39	)		31
Net income (loss)	$	35		$	41		$	16		$	1		$	48		$	9		$	(54	)	$	96
Net credit-related charge-offs	$	52		$	43		$	9		$	7		$	2		$	—		$	—		$	113
Selected average balances:
Assets	$	14,506		$	12,698		$	6,653		$	1,587		$	3,911		$	1,615		$	12,786		$	53,756
Loans		14,219			12,497			6,435			1,612			3,651			1,545			40			39,999
Deposits		17,959			12,448			5,557			375			2,242			1,312			463			40,356
Liabilities		17,956			12,388			5,542			361			2,281			1,314			8,044			47,886
Attributed equity		1,428			1,301			664			165			304			131			1,877			5,870
Statistical data:
Return on average assets (a)		0.72	%		1.21	%		0.96	%		0.13	%		4.93	%		2.24	%		N/M			0.71	%
Return on average attributed equity		9.79			12.69			9.67			1.25			63.46			27.57			N/M			6.53
Net interest margin (b)		4.45			5.01			4.91			2.64			5.32			4.38			N/M			3.29
Efficiency ratio		66.63			56.46			62.62			68.68			40.07			36.08			N/M			70.38
Three Months Ended September 30, 2010	Midwest			Western			Texas			Florida			Other Markets			International			Finance & Other Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	200		$	157		$	78		$	10		$	47		$	18		$	(105	)	$	405
Provision for loan losses		38			51			17			10			4			(2	)		4			122
Noninterest income		99			31			21			4			10			8			13			186
Noninterest expenses		185			108			61			13			23			8			4			402
Provision (benefit) for income taxes (FTE)		27			16			7			(3	)		(3	)		7			(43	)		8
Net income (loss)	$	49		$	13		$	14		$	(6	)	$	33		$	13		$	(57	)	$	59
Net credit-related charge-offs	$	61		$	58		$	5		$	6		$	2		$	—		$	—		$	132
Selected average balances:
Assets	$	14,445		$	12,746		$	6,556		$	1,528		$	4,058		$	1,608		$	13,788		$	54,729
Loans		14,276			12,556			6,357			1,549			3,802			1,538			24			40,102
Deposits		17,777			11,793			5,443			364			2,198			1,269			486			39,330
Liabilities		17,755			11,724			5,434			350			2,225			1,269			10,130			48,887
Attributed equity		1,390			1,304			663			166			340			141			1,838			5,842
Statistical data:
Return on average assets (a)		1.04	%		0.42	%		0.83	%		(1.58	)%		3.20	%		3.25	%		N/M			0.43	%
Return on average attributed equity		14.33			4.16			8.16			(14.56	)		38.18			37.03			N/M			4.07
Net interest margin (b)		4.45			4.96			4.87			2.61			4.99			4.51			N/M			3.23
Efficiency ratio		61.46			57.13			62.01			94.50			41.39			30.65			N/M			67.88
Three Months Ended December 31, 2009	Midwest			Western			Texas			Florida			Other Markets			International			Finance & Other Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	204		$	163		$	78		$	10		$	41		$	18		$	(116	)	$	398
Provision for loan losses		102			79			20			—			15			19			21			256
Noninterest income		106			33			23			3			11			9			29			214
Noninterest expenses		193			110			61			9			21			8			23			425
Provision (benefit) for income taxes (FTE)		3			1			7			1			(7	)		—			(45	)		(40	)
Net income (loss)	$	12		$	6		$	13		$	3		$	23		$	—		$	(86	)	$	(29	)
Net credit-related charge-offs	$	97		$	85		$	13		$	4		$	13		$	13		$	—		$	225
Selected average balances:
Assets	$	15,729		$	13,484		$	7,118		$	1,608		$	4,126		$	1,688		$	14,643		$	58,396
Loans		15,449			13,289			6,934			1,613			3,820			1,663			(15	)		42,753
Deposits		17,186			11,900			4,737			333			1,718			939			1,972			38,785
Liabilities		17,173			11,817			4,723			318			1,759			928			14,654			51,372
Attributed equity		1,515			1,386			691			176			415			172			2,669			7,024
Statistical data:
Return on average assets (a)		0.26	%		0.19	%		0.74	%		0.63	%		2.23	%		0.06	%		N/M			(0.19	)%
Return on average attributed equity		3.21			1.86			7.67			5.72			22.14			0.58			N/M			(5.10	)
Net interest margin (b)		4.70			4.85			4.46			2.57			4.28			4.22			N/M			2.94
Efficiency ratio		62.21			56.33			60.32			69.94			41.02			28.74			N/M			70.68

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

(b) 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

-24-

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited) page 1 of 2

Comerica Incorporated and Subsidiaries

										Years Ended December 31,
(dollar amounts in millions)										2010			2009
Net interest income (FTE)										$	1,651		$	1,575
Less:
Interest earned on excess liquidity (a)											8			6
Net interest income (FTE), excluding excess liquidity										$	1,643		$	1,569
Average earning assets										$	51,004		$	58,162
Less:
Average net unrealized gains on investment securities available-for-sale											115			165
Average earning assets for net interest margin (FTE)											50,889			57,997
Less:
Excess liquidity (a)											3,140			2,402
Average earning assets for net interest margin (FTE), excluding excess liquidity										$	47,749		$	55,595
Net interest margin (FTE)											3.24	%		2.72	%
Net interest margin (FTE), excluding excess liquidity											3.44			2.83
Impact of excess liquidity on net interest margin (FTE)											(0.20	)		(0.11	)
	2010												2009
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr
Net interest income (FTE)	$	406		$	405		$	424		$	416		$	398
Less:
Interest earned on excess liquidity (a)		1			2			2			3			1
Net interest income (FTE), excluding excess liquidity	$	405		$	403		$	422		$	413		$	397
Average earning assets	$	49,102		$	50,189		$	51,835		$	52,941		$	53,953
Less:
Average net unrealized gains on investment securities available-for-sale		139			180			80			62			107
Average earning assets for net interest margin (FTE)		48,963			50,009			51,755			52,879			53,846
Less:
Excess liquidity (a)		1,793			2,983			3,719			4,092			2,453
Average earning assets for net interest margin (FTE), excluding excess liquidity	$	47,170		$	47,026		$	48,036		$	48,787		$	51,393
Net interest margin (FTE)		3.29	%		3.23	%		3.28	%		3.18	%		2.94	%
Net interest margin (FTE), excluding excess liquidity		3.41			3.42			3.51			3.42			3.07
Impact of excess liquidity on net interest margin (FTE)		(0.12	)		(0.19	)		(0.23	)		(0.24	)		(0.13	)

(a) Excess liquidity represented by interest earned on and average balances deposited with the Federal Reserve Bank (FRB).

The net interest margin (FTE), excluding excess liquidity, removes interest earned on balances deposited with the FRB from net interest income (FTE) and average balances deposited with the FRB from average earning assets from the numerator and denominator of the net interest margin (FTE) ratio, respectively. Comerica believes this measurement provides meaningful information to investors, regulators, management and others of the impact on net interest income and net interest margin resulting from Comerica's short-term investment in low yielding instruments.

-25-

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited) page 2 of 2

Comerica Incorporated and Subsidiaries

	December 31, 2010			September 30, 2010			June 30, 2010			March 31, 2010			December 31, 2009
Tier 1 capital (a) (b)	$	6,027		$	5,940		$	6,371		$	6,311		$	7,704
Less:
Fixed rate cumulative perpetual preferred stock		—			—			—			—			2,151
Trust preferred securities		—			—			495			495			495
Tier 1 common capital (b)	$	6,027		$	5,940		$	5,876		$	5,816		$	5,058
Risk-weighted assets (a) (b)	$	59,806		$	59,608		$	59,877		$	60,792		$	61,815
Tier 1 common capital ratio (b)		10.08	%		9.96	%		9.81	%		9.57	%		8.18	%
Total shareholders’ equity	$	5,793		$	5,857		$	5,792		$	5,668		$	7,029
Less:
Fixed rate cumulative perpetual preferred stock		—			—			—			—			2,151
Goodwill		150			150			150			150			150
Other intangible assets		6			6			6			7			8
Tangible common equity	$	5,637		$	5,701		$	5,636		$	5,511		$	4,720
Total assets	$	53,667		$	55,004		$	55,885		$	57,106		$	59,249
Less:
Goodwill		150			150			150			150			150
Other intangible assets		6			6			6			7			8
Tangible assets	$	53,511		$	54,848		$	55,729		$	56,949		$	59,091
Tangible common equity ratio		10.54	%		10.39	%		10.11	%		9.68	%		7.99	%

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

(b) December 31, 2010 Tier 1 capital and risk-weighted assets are estimated.

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

-26-

EX-99.2

Fourth Quarter 2010 Financial Review

January 18, 2011

Comerica Incorporated

Exhibit 99.2

2

Safe Harbor Statement

Any statements in this presentation 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 further economic downturns, changes in the pace of an economic recovery and

related changes in employment levels, changes in real estate values, fuel prices, energy costs or other events that could affect customer income levels or

general economic conditions, the effects of recently enacted legislation, actions taken by or proposed by the U.S. Department of Treasury, the Board of

Governors of the Federal Reserve System, the Texas Department of Banking and the Federal Deposit Insurance Corporation, legislation or regulations

enacted in the future, and the impact and expiration of such legislation and regulatory actions, 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, fires, droughts  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, the interdependence of financial service companies and

adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. For discussion of factors that may cause

actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. In particular, please refer to “Item 1A.

Risk Factors” beginning on page 11 of Comerica’s Annual Report on Form 10-K for the year ended December 31, 2009, “Item 1A. Risk Factors”

beginning on page 67 of Comerica’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2010, “Item 1A. Risk Factors” beginning on page 71

of Comerica’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2010 and “Item 1A. Risk Factors” beginning on page 72 of Comerica’s

Quarterly Report on Form 10-Q for the quarter ended September 30, 2010. 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 presentation 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.

3

Financial Results

$ in millions, except per share data

1

Estimated

2

Excludes trust preferred securities, fully redeemed on 10/1/10

3

See Supplemental Financial Data slides for reconciliation of non-GAAP financial measures

1,640

789

480

3.24%

1,646

0.88

153

123

$277

FY10

134

_

_

Preferred stock dividends to U.S. Treasury

10.54%

10.08%

1

437

215

57

3.29%

405

0.53

95

$96

4Q10

9.96%

2

Tier 1 capital ratio

(118)

59

Net income (loss) attributable to common

shares

1,650

402

Noninterest expenses

10.39%

Tangible

common

equity

ratio

3

1,050

186

Noninterest income

1,082

122

Provision for loan losses

2.72%

3.23%

Net interest margin

1,567

404

Net interest income

(0.79)

0.33

Diluted income (loss) per common share

$17

$59

Net income

FY09

3Q10

4

Fourth Quarter 2010 Highlights

Analysis of 4Q10 compared to 3Q10

1

Inflow to nonaccrual loans with book balances greater than $2 million

2

Watch

list:

generally

consistent

with

regulatory

defined

special

mention,

substandard

and

doubtful

loans

3

See Supplemental Financial Data slides for reconciliation of non-GAAP financial measures

Broad-based improvement in credit quality continues

•

Net credit related charge-offs declined $19 million to $113 million

•

Nonperforming assets declined $76 million

•

Inflow

to

nonaccrual

1

slowed

by

$114

million,

to

$180

million

•

Watch

list

loans

declined

$629

million,

to

$5,542

million

2

•

Provision for loan losses declined $65 million to $57 million

Period-end loan outstandings were stable with Commercial loans

increasing $713 million or 3%

•

Average loans increased $229 million, excluding $332 million decrease in 

Commercial Real Estate line of business

Average core deposits increased $1.1 billion

•

Average noninterest bearing deposits increased $687 million

Revenue increased 5%

•

Strong fee income generation

Net interest margin increased 6 basis points to 3.29%

Capital ratios remain solid

•

Tangible

common

equity

ratio

3

of

10.54%

•

Fully redeemed trust preferred securities on October 1, 2010

5

Commercial Loan Growth

Increases in:

•

National Dealer Services $276MM

•

Mortgage Banker Finance $158MM

•

Energy $73MM

Average balances in $ millions

1

CRE: Owner-occupied and Commercial Real Estate line of business construction and mortgage loans

2

4Q10 compared to 3Q10

Decreases in:

•

Commercial Real Estate line of

business ($332MM)

•

Middle Market ($178MM)

•

Small Business Banking ($72MM)

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Total Loans

44,782

42,753

41,313

40,672

40,102

39,999

Q-Q Change

(2,029)

(1,440)

(641)

(570)

(103)

Commerical

23,401

21,971

21,015

20,910

20,967

21,464

Q-Q Change

(1,430)

(956)

(105)

57

497

CRE

14,392

14,096

13,773

13,359

12,882

12,336

Q-Q Change

(296)

(323)

(414)

(477)

(546)

Average

loan

outstandings

included

2

:

Balance Sheet

Lines of Business

1

6

$0

$10

$20

$30

$40

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Core Deposits Increased

Average Core Deposits

$ in billions; 4Q10 vs 3Q10

1

Core

deposits

exclude

Institutional

CDs,

Retail

Brokered

CDs

and

foreign

office

time

deposits         

Total

average

core

deposits

1

of

$39.9B, a $1.1B increase primarily

due to:

Noninterest-bearing deposits increased

$687MM

Money market and NOW deposits

increased $621MM

Customer CDs decreased $206MM

Total avg. core deposits:

Increased in:

•

Middle Market $442MM

•

Small Business $296MM

•

Technology & Life Sciences $152MM

•

Wealth Management $124MM

•

Financial Services Division $56MM

Decreased in:

Commercial Real Estate ($47MM)

Noninterest-bearing

Interest-bearing

7

3.29%

3.23%

3.28%

3.18%

2.94%

2.68%

2.25%

2.50%

2.75%

3.00%

3.25%

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Net Interest Margin Improves

Excess

liquidity

position

2

:

4Q10

average $1.8B, down from

$3.0B in 3Q10

12/31/10 period end $1.3B

Negative impact on 4Q10 margin was

approximately 12 basis points

1

4Q10 vs. 3Q10

2

Excess liquidity represented by average deposits held at the Federal Reserve Bank.  See Supplemental Financial Data slide

for reconciliation of non-GAAP financial measures.

Net interest margin increased six

basis

points

to

3.29%

reflecting

1

:

+

Decline

in

excess

liquidity

+

Redemption

of

higher-cost

Trust

Preferred securities (TruPS)

-

Decrease in yields on mortgage-

backed securities

8

A Leaner, More Efficient Company

6,000

8,000

10,000

12,000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Workforce Reductions

1

4Q10 vs. 3Q10

2

Offset by increase in deferred compensation asset returns in noninterest income

Noninterest

expenses

1

:

Salaries expense increased:

•

$10MM increase in incentives

as a result of improved financial

performance and rankings

relative to peers

•

$6MM increase in Deferred

Compensation

2

•

$3MM increase in Severance

Trust preferred securities

redemption charge of $5MM

9

$ in millions

Credit Quality Positive Trends Continued

$1,292      

3.06%

$1,251 

3.06%

$1,214 

2.98%

$1,311

3.24%

$1,235

3.06%

Nonperforming assets

to total loans & foreclosed property

$266

$245

$199

$294

$180

Nonperforming assets inflow

$111

$89

$93

$120

$112

Foreclosed property

$101

$83

$115

$104

$62

Loans past due 90 days or more        

and still accruing

$7,730

$7,502

$6,651

$6,171

$5,542

Total Watch list loans

$57

$113

1.13%

4Q10

$122

$132

1.32%

3Q10

$126

$146

1.44%

2Q10

$256

$175

Provision for Loan Losses

$173

1.68%

1Q10

$225

2.10%

4Q09

Net credit-related charge-offs

to average total loans

We believe we will continue to see improving credit quality reflecting

positive migration trends with some variability quarter to quarter

10

108

91

62

86

36

60

40

140

148

162

87

110

73

72

$0

$100

$200

$300

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Positive trends in credit quality

resulted in significant decline in

the provision for loan losses

Allowance for credit losses of

$936MM

•

Decreased $59MM, reflecting

the positive trend in all credit

metrics, particularly the watch list

•

Allowance for loan losses to total

loans 2.24%

•

Allowance for loan losses to

nonperforming loans of 80%

Recoveries of $27MM, an

increase of $14MM

Loan Sales of $70MM, an

increase of $51MM

Provision for Loan Losses

Provision and Net Charge-offs

$ in millions; 4Q10 vs 3Q10

Credit Quality Positive Trends Continued

CRE Net Charge-Offs

Non CRE Net Charge-Offs

312

311

256

175

126

122

57

11

Specialty

Businesses

$73MM

Small Business

$111MM

Other

$132MM

Middle

Market

$287MM

Commercial

Real Estate

$449MM

Global Corp

Banking

$28MM

$ in millions (MM); 4Q10 vs. 3Q10

Nonperforming Assets Declined

Nonperforming Assets of $1,235MM

included:

Nonaccrual loans decreased $83MM

•

Commercial Real Estate decreased

$80MM

•

Specialty Businesses decreased $14MM

$43MM Troubled Debt Restructurings

Foreclosed Property decreased $8MM   

to $112MM

Average carrying value of nonaccrual

loans 54% (46% write-down)

Accruing Troubled Debt 

Restructurings total $44MM

No nonaccrual loans Held-For-Sale

December 31, 2010

Nonaccrual Loans $1,080 million

By Line of Business

12

Expect variability

in credit metrics

with a general

improving trend

108

91

62

86

36

40

60

$0

$20

$40

$60

$80

$100

$120

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Residential

Commercial

Not Secured by RE

3,763

4,114

4,316

4,812

5,006

5,228

4,621

$0

$1,000

$2,000

$3,000

$4,000

$5,000

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Residential

Commercial

Commercial Real Estate Line of Business

Outstandings By

Property Type

Net Charge-offs By

Project Type

Period-end outstandings in $millions; excludes Commercial Real Estate line of business loans not secured by real estate;

Net Charge-offs $millions;

4Q10 vs. 3Q10

Commercial: Multi-Family, Retail, Office, Warehouse, Multi-use and Commercial

Charge-offs

decreased $19MM

Inflows to nonaccrual

decreased $61MM

Nonaccrual loans 

decreased $80MM

Watch list loans

declined

$245MM

13

0%

2%

4%

6%

8%

10%

12%

4Q09

1Q10

2Q10

3Q10

4Q10

Strong Capital Ratios

Tier

I

Common

Capital

Ratio

1

Peer Median

Comerica

Among the best capitalized in

peer group

Quality of capital is solid

Tier 1 made up of 100% common

equity as of 10/1/10

Fully redeemed preferred stock

issued to U.S. Treasury in 1Q10

Redeemed $500MM of 6.57%

Trust Preferreds

(TruPS) on

10/01/10

Doubled quarterly common stock

dividend to $0.10 per share

Authorized share and warrant

repurchases

Strong capital supports future

growth

Source: SNL Financial

Peer Group: BBT, FITB, HBAN, KEY, MI, MTB, PNC, RF, STI, USB, ZION

1

See Supplemental Financial Data slides for reconcilements of non-GAAP financial measures; 4Q10 estimated

14

2011 Full-Year Outlook

1

For the full-year 2011, management expects the following compared to full-year 2010:

Average loans: low single-digit decline

•

Excluding the Commercial Real Estate line of business, a low single-digit increase in average loans

•

Average earning assets of $48 billion

Net interest margin similar to 2010

•

Assumes no change in federal funds rate

Net credit-related charge-offs of $350 million to $400 million

•

Provision for credit losses to be $150 million to $200 million

Noninterest income: low single-digit decline

•

Fee income growth more than offset by impact of new regulations

Noninterest expenses: low single-digit increase

•

Reflects rising benefit costs

Income tax expense

•

36% of pre-tax income less $60 million in tax benefits

Cautiously manage capital

•

Commence share repurchase program that, combined with dividend payments, results in a payout 

ratio less than 50% of earnings

1

This outlook is provided as of January 18, 2011 and does not include any impact from the acquisition of Sterling Bancshares.

Based on a continuation of modest economic growth

Appendix

16

Basel III Implementation

New rules effective between 2013 and 2019; US adoption expected to occur over a similar

timeframe, but the final form of the US rules is uncertain

CMA is not a mandatory Basel II bank

CMA

Tier

1

Common

1

12/31/10:

10.1%

Regulatory required minimum by 2019: 7% 

(4.5% minimum plus 2.5% “conservation

buffer”)

CMA has NO material impact from:

•

Mortgage servicing rights

•

Trust Preferreds

•

Deferred tax assets

•

Investments in financial institutions

Expected change in Risk Weighted Assets

not material

Higher degree of uncertainty regarding

implementation and interpretation

Will likely require more on-balance sheet

liquidity

•

Possibly increase or change the mix of

the investment securities portfolio

•

Continued focus on retail deposit

generation

Careful management of off-balance sheet

commitments; expect evolution of pricing

and terms of off-balance sheet commercial

commitments

Expected to be manageable given proven

ability to administer our balance sheet

Capital Requirement:

Liquidity Requirement:

1

See Supplemental Financial Data slides for reconciliation of non-GAAP financial measures

Impact

on

Comerica

is

estimated

and

subject

to

final

rulemaking.

Comerica

may

be

affected

by

other

changes

due

to

Basel

III.

17

Based on the two options contemplated in the draft

Fed rules, total debit card PIN ($9 million annual

revenue

)

and

signature-based

($31

million

annual

revenue

)

interchange

fees

in

2011

would

be

reduced

by

$13MM

-

$15MM

Direct impact on client-driven energy derivatives

business

($1

million

annual

revenue

)

As currently proposed by the FDIC, CMA expects

2011 FDIC insurance expense to remain consistent 

with 2010 expense ($62 million).

As currently proposed by the FDIC, there will not be

a separate assessment for unlimited deposit

insurance coverage for this period.

Could lead to increased cost of commercial demand

deposits, depending on interplay of interest, deposit

credits, and service charges

Impacts

Allows for continued growth of CMA’s core client-

driven foreign exchange ($39 million annual

revenue

)

and

interest

rate

($7

million

annual

revenue

)

derivatives

business

Derivatives –

Allows continued trading of

foreign exchange and interest rate derivatives;

energy, uncleared commodities and agriculture

derivatives will move to a separate subsidiary

New rule is consistent with CMA’s focus on core

deposit growth

Deposit Insurance

–

Changes definition of

assessment base, increases fund’s minimum

reserve ratio & permanently increases insurable

level

Could provide impetus for additional deposit

generation

TAG Extension

-

Provide unlimited deposit

insurance on noninterest-bearing accounts from

12/31/10 to 12/31/12

Government card programs, such as the 

DirectExpress Social Security program, are exempt

Interchange Fees -

Limits debit card transaction

processing fees that card issuers can charge

merchants

On October 1, 2010 fully redeemed all $500

million of Trust Preferred Securities at par

Trust Preferreds

-

Prohibits certain banks from

including Trust Preferreds in Tier 1 Capital

(phase out beginning 1/1/13)

Could provide impetus for additional deposit

generation

Interest

on

Demand

Deposits

-

Allows

interest

on commercial demand deposits (one year from

enactment)

Opportunities

Key Changes

1

Dodd-Frank

Wall

Street

Reform

and

Consumer

Protection

Act;

2

Based

on

2010

full-year

results

Impact

on

Comerica

is

estimated

and

subject

to

final

rulemaking.

Comerica

may

be

impacted

by

other

changes

due

to

the

financial reform legislation.

Timing of prescribed changes varies by rule.

Overall, relative impact from Financial Reform will likely be less than other major banks

Financial Reform

1

2

2

2

2

2

18

Business and Market Segment

Contributions to Net Income

$17

(15)

(110)

43

(48)

$147

FY 09

$277

TOTAL

16

Other

1

(234)

Finance

(3)

Wealth &

Institutional

Management

(31)

Retail Bank

$529

Business Bank

FY 10

$ in millions

1

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

2

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

$17

(125)

24

77

(23)

40

(16)

$40

FY09

100

Other Markets

(13)

Florida

114

Western

$277

TOTAL

(218)

Finance and

Other

2

53

International

70

Texas

$171

Midwest

FY 10

19

Investment Securities Portfolio

Consists primarily of AAA

mortgage-backed Freddie

Mac and Fannie Mae

government agency

securities

•

Net unrealized pre-tax gain

$55MM as of 12/31/10

•

Average life of 3.4 years as

of 12/31/10

Repurchased customers’

Auction-Rate Securities in

4Q08

•

Cumulative redemptions and

sales of $668MM

(4Q10 $12MM)

•

Cumulative gains on

redemptions and sales of

$27MM  (4Q10 $1MM)

$ in millions (MM)

$3,500

$4,500

$5,500

$6,500

$7,500

$8,500

$9,500

$10,500

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Average Auction-Rate Securities

Average Investment Securities Available-for-Sale

Target:

Mortgage-backed

Securities   $6.5B

20

Other

Markets

$3.7B 9%

Int'l

$1.5B 4%

Florida  

$1.6B 4%

Midwest

$14.3B 36%

Western

$12.5B 31%

Texas    

$6.4B 16%

Diverse Loan Portfolio

1 

Specialty Businesses includes:  Financial Services Division, Entertainment, Energy, Leasing, Mortgage Banker Finance and

Technology and Life Sciences (TLS )

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

Average 4Q10: $40.0 billion

By Geographic Market

By Line of Business

Global Corp

Banking

$4.3B 11%

Commercial

Real Estate

$4.7B 12%

Middle

Market

$11.9B 30%

Nat'l Dealer

Services

$3.8B 9%

Specialty

Businesses

1

$5.3B 13%

Personal

Banking

$1.8B 4%

Small

Business

Banking

$3.4B 9%

Private

Banking

$4.8B 12%

21

Loans By Geographic Market

Average loans in $billions; 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

4Q10

3Q10

FY10

FY09

Midwest

$14.3

$14.3

$14.5

$17.0

Western

12.5

12.6

12.7

14.3

Texas

6.4

6.3

6.5

7.4

Florida

1.6

1.6

1.6

1.7

Other Markets

3.7

3.8

3.7

3.9

International

1.5

1.5

1.5

1.9

TOTAL

$40.0

$40.1

$40.5

$46.2

22

Loans by Line of Business

Average loans in $billions; 

1

Specialty Businesses includes: Financial Services Division, Entertainment, Energy, Leasing, Mortgage Banker Finance, and TLS

4Q10

3Q10

FY10

FY09

Middle Market

$11.9

$12.0

$12.1

$14.3

Commercial Real Estate

4.7

5.1

5.2

6.1

Global Corporate Banking

4.3

4.4

4.6

6.0

National Dealer Services

3.8

3.5

3.4

3.5

Specialty Businesses

1

5.3

5.0

5.0

5.5

SUBTOTAL –

BUSINESS BANK

$30.0

$30.0

$30.3

$35.4

Small Business Banking

3.4

3.5

3.5

3.9

Personal Banking

1.8

1.8

1.9

2.1

SUBTOTAL –

RETAIL BANK

$5.2

$5.3

$5.4

$6.0

Private Banking

4.8

4.8

4.8

4.8

SUBTOTAL –

WEALTH &     

INSTITUTIONAL MANAGEMENT

$4.8

$4.8

$4.8

$4.8

TOTAL

$40.0

$40.1

$40.5

$46.2

23

Fourth Quarter 2010 Average Loans Detail

$ in billions; geography based on office of origination.

1

Specialty Businesses includes: Financial Services Division, Entertainment, Energy, Leasing, Mortgage Banker Finance and TLS

Midwest

Western

Texas

Florida

Other

Markets

Int’l

TOTAL

Middle Market

$5.3

$3.8

$1.7

$0.2

$0.9

$0.0

$11.9

Commercial Real Estate

0.9

1.4

1.2

0.4

0.8

-

4.7

Global Corporate Banking

1.3

0.8

0.2

0.1

0.4

1.5

4.3

National Dealer Services

0.7

2.4

0.2

0.3

0.2

-

3.8

Specialty Businesses

1

1.0

1.5

1.5

0.0

1.3

-

5.3

SUBTOTAL –

BUSINESS BANK

$9.2

$9.9

$4.8

$1.0

$3.6

$1.5

$30.0

Small Business Banking

1.7

0.8

0.9

-

-

-

3.4

Personal Banking

1.4

0.1

0.2

-

0.1

-

1.8

SUBTOTAL –

RETAIL BANK

$3.1

$0.9

$1.1

$-

$0.1

$-

$5.2

Private Banking

2.0

1.7

0.5

0.6

-

-

4.8

SUBTOTAL –

WEALTH &

INSTITUTIONAL MANAGEMENT

$2.0

$1.7

$0.5

$0.6

$0.0

$-

$4.8

TOTAL

$14.3

$12.5

$6.4

$1.6

$3.7

$1.5

$40.0

24

Shared National Credit Relationships

Approx. 940

borrowers

Majority of relationships

include ancillary business

Comerica is agent for

approximately 17.5%

Adhere to same credit

underwriting standards as

rest of loan book

Credit quality mirrors total

portfolio

December 31, 2010: $7.3 billion

Shared National Credit (SNC): Facilities greater than $20 million shared by three or more federally supervised financial institutions

which are reviewed by regulatory authorities at the agent bank level.

Period-end outstandings as of  December 31, 2010

Global Corp

Banking

$2.3B 32%

Nat'l Dealer

Services $0.3B

4%

Energy

$1.3B 18%

Other

$0.5B 7%

Middle Market

$1.7B 23%

Commercial

Real Estate

$1.2B 16%

25

5,542

8,250

6,651

7,502

7,730

6,171

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Total

Watch

List

Loans

1

Watch List Improvement Continued

Watch list loans

1

decreased

$629MM, fifth

consecutive quarter

of decline

Watch list loans

1

decreased $2.7B

over past five

quarters

Loans past due 90 days or more

and still accruing declined

Foreclosed property decreased

and remains relatively small

$ in millions; Analysis of 4Q10 compared to 3Q10

1

Watch

list:

generally

consistent

with

regulatory

defined

special

mention,

substandard

and

doubtful

(nonaccrual)

loans

26

By Geographic Market

Texas   

$9MM 8%

Western

$42MM 37%

Midwest

$52MM 46%

Florida

$8MM 7%

Other Markets

$2MM 2%

Specialty

Businesses

$4MM 4%

Middle Market

$23MM 20%

Private Banking

$18MM 16%

Small Business

Banking $17MM

14%

Personal

Banking $5MM

5%

Global

Corporate

Banking $6MM

5%

Commercial

Real Estate

$40MM 36%

4Q10: $113 Million

Net Loan Charge-offs

By Line of Business

$ in millions;  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

Specialty Businesses includes: Financial Services Division, Entertainment, Energy, Leasing, Mortgage Banker Finance, TLS and

National Dealer Services

27

Net Loan Charge-offs by Line of Business

$ in millions; 

1

Includes $26MM related to a Middle Market/National group that focused on higher levered relationships

2

Specialty Businesses includes: Financial Services Division, Entertainment, Energy, Leasing, Mortgage Banker Finance, TLS and

National Dealer Services

4Q10

3Q10

2Q10

1Q10

4Q09

Commercial Real Estate

$40

$60

$36

$86

$62

Middle Market

23

32

71

1

39

76

Small Business Banking

17

14

16

20

22

Wealth & Institutional

Management

18

14

11

10

12

Specialty  Businesses

4

8

4

10

18

Personal Banking

5

4

6

6

8

Global Corporate Banking

6

0

2

2

26

TOTAL

$113

$132

$146

$173

$224

Provision for loan losses

$57

$122

$126

$175

$256

2

28

Net Loan Charge-offs by Market

$ in millions

Geography based on office of origination; Midwest: MI, OH, IL;  Western: CA, AZ, NV, CO, WA;

1

Other

Markets

include

markets

not

separately

identified

above

in

addition

to

businesses

with

a

national

perspective

2

Includes $26MM related to a Middle Market/National group that focused on higher levered relationships

4Q10

3Q10

2Q10

1Q10

4Q09

Midwest

$52

$61

$44

$55

$97

Western

42

58

47

65

85

Texas

9

5

8

25

13

Florida

8

6

7

10

4

Other Markets /

International

2

2

40

2

18

25

TOTAL

$113

$132

$146

$173

$224

Provision for loan losses

$57

$122

$126

$175

$256

1

29

Nonaccrual Loans

36

248 

$5–$10

3

84 

Over $25

1,066

$1,080

Total

23

342 

$10–$25

58

179 

$2–$5

946

$227

Under $2

# of Relationships

Outstanding

Period-end balances in $ millions (MM) as of December 31, 2010

Sold $41MM in nonperforming loans

at prices approximating carrying

value plus reserves in 4Q10

Proactively review nonaccrual loans

every quarter

Charge-offs and reserves taken to

reflect current market conditions

Granularity of nonaccrual loans:

72%

68%

66%

64%

61%

59%

56%

56%

55%

55%

54%

25%

40%

55%

70%

2Q08

4Q08

2Q09

4Q09

2Q10

4Q10

Carrying Value of Nonaccrual Loans

as % of Contractual Value

30

Commercial Real Estate Loan Portfolio

4Q10: $12.3 billion

4Q10 averages in $billions

1

Included in Commercial Real Estate line of business

Commercial Real Estate

Line of Business:

Nonaccrual loans of $449MM, down

$80MM from 3Q10

Loans over $2MM transferred to

nonaccrual totaled $71MM

($132MM in 3Q10 and $32MM in

2Q10)

Net loan charge-offs of $40MM         

($60MM in 3Q10 and $36MM in

2Q10)

Primarily

Owner-

Occupied

Commercial

Mortgages

$8.4B 68%

Real Estate

Construction

$1.9B 16%

Commercial

Mortgages

$2.0B 16%

1

1

31

Commercial Real Estate Line of Business

December

31,

2010

Loan

Outstandings:

$3.8

billion

1

By Project Type

By Location of Property

Period-end balances in $billions;

1

Excludes Commercial Real Estate line of business loans not secured by real estate

Land Carry

$0.4B 10%

Land

Development

$0.2B 5%

Single Family

$0.3B 7%

Retail

$0.9B 23%

Multi-family

$0.9B 26%

Comml/Other

$0.3B 8%

Multi-use

$0.5B 12%

Other 

Markets

$0.6B 15%

Florida   

$0.5B 12%

Western

$1.2B 35%

Michigan

$0.5B 12%

Texas   

$1.0B 26%

Office

$0.3B 9%

32

Real Estate Construction Loans

December 31, 2010 period-end $ in millions; Western: CA, AZ, NV

Commercial Real Estate Line of Business by Location of Property

47

-

-

33

14

-

Commercial

119

-

14

42

6

57

Office

201

27

-

52

5

117

Multi-use

579

92

131

227

-

129

Multi-family

Other CRE:

157

27

9

52

9

60

Land Development

353

45

48

74

27

159

Total Residential

485

29

27

262

48

119

Retail

18

-

2

6

-

10

Other

$1,826

$193

$222

$707

$109

$595

TOTAL

Residential:

-

$18

Other

Markets

24

-

11

9

4

Land Development

$196

$39

$22

$18

$99

Single Family

TOTAL

Florida

Texas

Michigan

Western

33

Commercial Mortgage Loans

Commercial Real Estate Line of Business by Location of Property

December 31, 2010 period-end $ in millions; Western: CA, AZ, NV

239

16

18

20

45

140

Land Carry

386

80

64

16

98

128

Retail

249

87

-

31

16

115

Multi-use

Other CRE:

202

41

37

35

31

58

Total

Residential

$69

$30

$6

$17

$3

$13

Single Family

Residential:

121

22

-

17

33

49

Commercial

221

17

11

12

34

147

Office

404

45

115

138

55

51

Multi-family

115

61

-

-

47

7

Other

$369

11

Other

Markets

$1,937

$245

$269

$359

$695

TOTAL

133

31

18

28

45

Land Carry

TOTAL

Florida

Texas

Michigan

Western

34

Residential Real Estate Development

$0

$500

$1,000

$1,500

$2,000

$2,500

2Q09

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

Single Family

Residential - Land Carry/Development

Period-end balances in $millions

Western: CA, AZ, NV

Reduced Residential Real

Estate Development

exposure by $1.7B since

6/30/08 to $555MM at

12/31/10

Geographic breakdown:

•

Western

39%

•

Texas

20%

•

Florida

15%

•

Michigan

11%

•

Other

15%

Reduced Western Market

Local Residential Real

Estate Developer Portfolio to

$105MM at 12/31/10 from

$932MM at 12/31/07

35

Consumer Loan Portfolio

9.9% of total outstandings

No sub-prime mortgage programs

Self-originated & relationship

oriented

Net loan charge-offs of $17MM

4Q10: $4.0 billion

4Q10 averages in $billions; Geography based on office of origination

1

Residential mortgages on the balance sheet are primarily associated with Private Banking customers.  Residential mortgages

originated through the banking centers are typically sold to a third party.

2

The “other”

category includes automobile, personal watercraft, student and recreational vehicle loans.

3

Data on loans booked through the Consumer Loan Center which encompasses about 86% of the Home Equity Lines and Loans

Consumer Loan Portfolio

Midwest

62%

Florida

3%

Texas

9%

Western

26%

About 85% home equity lines and 15%

home equity loans

Avg. FICO score of 753 at origination

86%

have

CLTV

80%

at

origination

Average loan vintage is 5.3 years

4Q10: $1.7 billion

Home Equity Portfolio

3

Consumer loans-

Other

2

$0.7B

17%

Consumer

Loans-Home

Equity $1.7B

43%

Residential

Mortgages

1

$1.6B

40%

36

Core Deposits By Geographic Market

Average

deposits

in

$

billions;

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

Excludes

Foreign

Office

Time

Deposits

(4Q10

$0.5B,

3Q10

$0.4B,

FY10

$0.5B,

FY09

$0.7B)

and

Inst.

&

Retail

Brokered

CDs

of

$0.1B

in

3Q10;

$0.3B

in

FY10;

and

$4.1B

in

FY09

4Q10

3Q10

FY10

FY09

Midwest

$17.9

$17.8

$17.7

$17.0

Western

12.5

11.8

12.0

11.1

Texas

5.6

5.4

5.3

4.5

Florida

0.4

0.4

0.4

0.3

Other Markets

2.2

2.2

2.2

1.6

International

1.1

1.1

1.0

0.8

Finance/Other

0.2

0.1

0.1

0.0

TOTAL

$39.9

$38.8

$38.7

$35.3

37

Line of Business Deposits

4Q10

3Q10

FY10

FY09

Middle Market

$5.3

$4.8

$4.9

$4.3

Commercial Real Estate

0.9

0.9

1.0

0.7

Global Corporate Banking

6.6

6.6

6.6

5.1

National Dealer Services

0.2

0.2

0.2

0.1

Specialty Businesses

1

7.0

6.7

6.4

5.1

SUBTOTAL –

BUSINESS BANK

$20.0

$19.2

$19.1

$15.3

Small Business Banking

4.5

4.2

4.1

3.9

Personal Banking

12.7

12.8

12.8

13.5

SUBTOTAL –

RETAIL BANK

$17.2

$17.0

$16.9

$17.4

Private Banking

2.7

2.6

2.8

2.7

SUBTOTAL –

WEALTH &   

INSTITUTIONAL MANAGEMENT

$2.7

$2.6

$2.8

$2.7

Finance/Other

2

0.5

0.5

0.7

4.6

TOTAL

$40.4

$39.3

$39.5

$40.0

Average deposits in $billions

1

Specialty Businesses includes: Entertainment, Energy, Financial Services Division, Leasing, Mortgage Banker Finance and TLS

2

Finance/Other includes Inst. and Retail Brokered CD’s: 4Q10 - none; 3Q10 - $0.1B; FY10 - $0.3B; FY09 - $4.1B

38

Fourth Quarter 2010 Average Deposits Detail

$ in billions

1

Specialty

Businesses

includes:

Entertainment,

Energy,

Financial

Services

Division,

Leasing,

Mortgage

Banker

Finance

and

TLS

2

Finance/Other includes $0.1B in Inst. and Retail Brokered CD’s; included in Finance Division segment

Midwest

Western

Texas

Florida

Other

Markets

Int’l

TOTAL

Middle Market

$1.2

$3.4

$0.6

$0.0

$0.1

-

$5.3

Commercial Real Estate

0.2

0.5

0.1

0.0

0.1

-

0.9

Global Corporate Banking

3.0

0.5

0.9

0.1

0.8

1.3

6.6

National Dealer Services

0.1

0.1

0.0

0.0

0.0

-

0.2

Specialty Businesses

0.7

4.3

0.9

0.1

1.0

-

7.0

SUBTOTAL

–

BUSINESS

BANK

$5.2

$8.8

$2.5

$0.2

$2.0

$1.3

$20.0

Small Business Banking

2.2

1.1

1.2

-

-

-

4.5

Personal Banking

9.8

1.1

1.7

-

0.1

-

12.7

SUBTOTAL

–

RETAIL

BANK

$12.0

$2.2

$2.9

$--

$0.1

$--

$17.2

Private Banking

0.8

1.4

0.2

0.2

0.1

-

2.7

SUBTOTAL

–

WEALTH

&

INSTITUTIONAL MANAGEMENT

$0.8

$1.4

$0.2

$0.2

$0.1

$--

$2.7

Finance/Other

0.5

-

-

-

-

-

0.5

TOTAL

$18.5

$12.4

$5.6

$0.4

$2.2

$1.3

$40.4

1

2

39

A

A

A-

A2

Comerica

BBB-

BBB-

BBB+

A-

BBB+

A-

BBB+

A-

A+

A+

AA-

Fitch

BBB

BB+

Ba3

Regions Financial

BBB

BBB

Baa2

Huntington

BBB (low)

BBB-

B2

Zions Bancorporation

BBB (high)

BB+

Baa1

Marshall & Ilsley

Baa1

Baa1

Baa1

A3

A3

A2

Aa3

Moody’s

A (high)

A

PNC

A (low)

A-

M&T Bank

A (high)

A

BB&T

A (low)

BBB

Fifth Third

A (low)

BBB

SunTrust

BBB (high)

BBB+

KeyCorp

AA

DBRS

S&P

Senior Unsecured/Long-Term Issuer Rating

A+

US Bancorp

Holding Company Debt Ratings

As of 01/11/2011

Source: SNL Financial

Debt Ratings are not a recommendation to buy, sell, or hold securities.

40

Supplemental Financial Data

The

Tier

1

common

capital

ratio

removes

preferred

stock

and

qualifying

trust

preferred

securities

from

Tier

1

capital

as

defined

by

and calculated

in

conformity

with

bank

regulations.

The

tangible

common

equity

ratio

removes

preferred

stock

and

the

effect of

intangible assets from capital and the effect of intangible assets from total assets.

The Corporation believes these measurements are meaningful measures of capital adequacy used by investors, regulators,

management and others to evaluate the adequacy of common equity and to compare against other companies in the industry.

1

Regulatory Capital, Tier 1 Capital and risk-weighted assets as defined and calculated in accordance with regulation.

2

December 31, 2010 Regulatory Capital, Tier 1 Capital, and Risk-Weighted assets are estimated.

10.39%

$54,848

$55,004

150

6

$5,701

$5,857

--

150

6

5,940

59,608

9.96%

$5,940

--

--

$8,566

9/30/10

10.54%

$53,511

$53,667

150

6

$5,637

$5,793

--

150

6

6,027

59,806

10.08%

$6,027

--

--

$8,654

12/31/10

10.11%

$55,729

$55,885

150

6

$5,636

$5,792

--

150

6

5,876

59,877

9.81%

$6,371

--

495

$9,001

6/30/10

9.68%

$56,949

$57,106

150

7

$5,511

$5,668

--

150

7

5,816

60,792

9.57%

$6,311

--

495

$9,062

3/31/10

$10,468

Total

Regulatory

Capital

2

7.99%

$59,091

$59,249

150

8

$4,720

$7,029

2,151

150

8

5,058

61,815

8.18%

$7,704

2,151

495

12/31/09

Total shareholders’

equity

Less:

Less: Goodwill

Less: Other intangible assets

Tangible common equity ratio

Total assets

Less: Goodwill

Less: Other intangible assets

Tangible common equity

Tier 1 capital

1,2

Less:

Less: Trust preferred securities

Tangible assets

Tier

1

common

capital

2

Risk-weighted

assets

1,2

Tier

1

common

capital

ratio

2

Fixed rate cumulative perpetual preferred stock

Fixed rate cumulative perpetual preferred stock

Reconciliation of non-GAAP financial measures with financial measures defined by GAAP ($ in millions)

41

The Corporation believes this measurement provides meaningful information to investors, regulators, management and others of the

impact on net interest income and net interest margin resulting from the Corporation’s short-term investment in low yielding

instruments.

1

Excess liquidity represented by interest earned on and average balances deposited with the Federal Reserve Bank.

(0.19)%

3.23%

3.42%

$47,026

$50,009

2,983

$50,189

180

$403 

$405 

2

3Q10

$53,953

107

$52,941

62

$51,835

80

$49,102

139

Average earnings assets

Less: Average net unrealized gains on

investment securities available-for-sale

(0.12)%

3.29%

3.41%

$47,170

$48,963

1,793

$405

$406

1

4Q10

(0.23)%

3.28%

3.51%

$48,036

$51,755

3,719

$422 

$424 

2

2Q10

(0.24)%

3.18%

3.42%

$48,787

$52,879

4,092

$  413

$  416

3

1Q10

(0.13)%

2.94%

3.07%

$51,393

$53,846

2,453

$  397

$  398

1

4Q09

Average earnings assets for net interest

margin (FTE)

Less: Excess liquidity

1

Net interest margin (FTE)

Net interest margin (FTE), excluding

excess liquidity

Average earnings assets for net interest

margin (FTE), excluding excess liquidity

Net interest income (FTE)

Less: Interest earned on excess liquidity

Impact of excess liquidity on net interest

margin (FTE)

Net interest income (FTE), excluding

excess liquidity

Supplemental Financial Data

Reconciliation of non-GAAP financial measures with financial measures defined by GAAP ($ in millions)

1