CMA Comerica Inc

ANALYSIS OF NET INTEREST INCOME (FTE) (unaudited) Comerica Incorporated and Subsidiaries Three Months Ended ------------------ December 31, 2009 September 30, 2009 December 31, 2008 ----------------- ------------------ ----------------- Average Average Average Average Average Average (dollar amounts in millions) Balance Interest Rate Balance Interest Rate Balance Interest Rate ------------------ ------- -------- ---- ------- -------- ---- ------- -------- ---- Commercial loans (a) (b) $21,971 $212 3.84 % $23,401 $223 3.79 % $28,507 $334 4.65 % Real estate construction loans 3,703 27 2.90 4,033 29 2.83 4,536 46 4.08 Commercial mortgage loans 10,393 110 4.19 10,359 110 4.21 10,613 138 5.17 Residential mortgage loans 1,664 21 5.01 1,720 24 5.66 1,851 27 5.80 Consumer loans 2,517 23 3.59 2,550 24 3.68 2,639 30 4.49 Lease financing 1,181 11 3.80 1,218 12 3.96 1,359 12 3.63 International loans 1,324 12 3.73 1,501 14 3.65 1,833 22 4.78 Business loan swap income - 9 - - 9 - - 5 - --- --- --- --- --- --- --- --- --- Total loans (b) 42,753 425 3.95 44,782 445 3.94 51,338 614 4.76 Auction-rate securities available-for-sale 923 3 1.37 962 3 1.29 769 6 2.95 Other investment securities available- for-sale 7,664 51 2.67 8,108 62 3.10 7,965 96 4.86 ----- --- ---- ----- --- ---- ----- --- ---- Total investment securities available- for-sale 8,587 54 2.53 9,070 65 2.91 8,734 102 4.69 Federal funds sold and securities purchased under agreements to resell 1 - 0.29 2 - 0.29 75 - 0.83 Interest-bearing deposits with banks (c) 2,480 1 0.25 3,538 2 0.25 811 1 0.50 Other short-term investments 132 1 1.55 121 1 1.80 176 2 3.59 --- --- ---- --- --- ---- --- --- ---- Total earning assets 53,953 481 3.55 57,513 513 3.55 61,134 719 4.68 Cash and due from banks 831 873 1,056 Allowance for loan losses (1,048) (992) (780) Accrued income and other assets 4,660 4,554 4,571 ----- ----- ----- Total assets $58,396 $61,948 $65,981 ------- ------- ------- Money market and NOW deposits (a) $14,113 14 0.39 $13,090 15 0.46 $12,670 37 1.16 Savings deposits 1,376 - 0.08 1,347 - 0.09 1,264 1 0.29 Customer certificates of deposit 6,823 25 1.42 8,145 46 2.23 8,589 63 2.91 ----- --- ---- ----- --- ---- ----- --- ---- Total interest-bearing core deposits 22,312 39 0.69 22,582 61 1.07 22,523 101 1.78 Other time deposits 1,493 12 3.22 3,573 28 3.05 6,702 56 3.35 Foreign office time deposits 550 - 0.22 660 - 0.24 516 1 0.81 --- --- ---- --- --- ---- --- --- ---- Total interest-bearing deposits 24,355 51 0.83 26,815 89 1.32 29,741 158 2.12 Short-term borrowings 222 - 0.09 434 - 0.13 2,808 9 1.27 Medium- and long-term debt 11,140 32 1.12 13,311 37 1.10 15,016 118 3.14 ------ --- ---- ------ --- ---- ------ --- ---- Total interest-bearing sources 35,717 83 0.92 40,560 126 1.23 47,565 285 2.39 --- ---- --- ---- --- ---- Noninterest-bearing deposits (a) 14,430 13,225 10,575 Accrued expenses and other liabilities 1,225 1,098 1,540 Total shareholders' equity 7,024 7,065 6,301 ----- ----- ----- Total liabilities and shareholders' equity $58,396 $61,948 $65,981 ------- ------- ------- Net interest income/rate spread (FTE) $398 2.63 $387 2.32 $434 2.29 ---- ---- ---- FTE adjustment $2 $2 $3 --- --- --- Impact of net noninterest-bearing sources of funds 0.31 0.36 0.53 ---------------- ---- ---- ---- Net interest margin (as a percentage of average earning assets) (FTE) (b) (c) 2.94 % 2.68 % 2.82 % ------------------------------------ ---- ---- ---- N/M - Not meaningful (a) FSD balances included above: Loans (primarily low- rate) $205 $- 0.98 % $209 $1 1.94 % $323 $1 1.60 % Interest-bearing deposits 342 - 0.30 384 - 0.47 834 3 1.55 Noninterest-bearing deposits 1,285 1,258 1,320 (b) Impact of FSD loans (primarily low-rate) on the following: Commercial loans (0.03) % (0.02) % (0.03) % Total loans (0.01) (0.01) (0.02) Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits) (0.01) - - (c) Excess liquidity, represented by average balances deposited with the Federal Reserve Bank, reduced the net interest margin by 13 basis points and 16 basis points in the fourth and third quarters of 2009, respectively, and by 3 basis points in the fourth quarter of 2008. Excluding excess liquidity, the net interest margin would have been 3.07%, 2.84% and 2.85% in each respective period. CONSOLIDATED STATISTICAL DATA (unaudited) Comerica Incorporated and Subsidiaries December 31, September 30, June 30, March 31, December 31, (in millions, except per share data) 2009 2009 2009 2009 2008 -------------------- ---- ---- ---- ---- ---- Commercial loans: Floor plan $1,367 $857 $1,492 $1,763 $2,341 Other 20,323 21,689 23,430 24,668 25,658 ----- ------ ------ ------ ------ ------ Total commercial loans 21,690 22,546 24,922 26,431 27,999 Real estate construction loans: Commercial Real Estate business line (a) 2,988 3,328 3,500 3,711 3,831 Other business lines (b) 473 542 652 668 646 -------------------- --- --- --- --- --- Total real estate construction loans 3,461 3,870 4,152 4,379 4,477 Commercial mortgage loans: Commercial Real Estate business line (a) 1,824 1,678 1,728 1,659 1,619 Other business lines (b) 8,633 8,702 8,672 8,855 8,870 -------------------- ----- ----- ----- ----- ----- Total commercial mortgage loans 10,457 10,380 10,400 10,514 10,489 Residential mortgage loans 1,651 1,679 1,759 1,836 1,852 Consumer loans: Home equity 1,803 1,804 1,801 1,791 1,781 Other consumer 708 740 761 786 811 -------------- --- --- --- --- --- Total consumer loans 2,511 2,544 2,562 2,577 2,592 Lease financing 1,139 1,197 1,234 1,232 1,343 International loans 1,252 1,355 1,523 1,655 1,753 ------------------- ----- ----- ----- ----- ----- Total loans $42,161 $43,571 $46,552 $48,624 $50,505 ----------- ------- ------- ------- ------- ------- Goodwill $150 $150 $150 $150 $150 Loan servicing rights 7 8 9 10 11 Tier 1 common capital ratio (c) (d) 8.18 % 8.04 % 7.66 % 7.32 % 7.08 % Tier 1 risk-based capital ratio (d) 12.46 12.21 11.58 11.06 10.66 Total risk-based capital ratio (d) 16.93 16.79 15.97 15.36 14.72 Leverage ratio (d) 13.22 12.46 12.11 11.65 11.77 Tangible common equity ratio (c) 7.99 7.96 7.55 7.27 7.21 Book value per common share $31.82 $31.90 $32.70 $33.32 $33.31 Market value per share for the quarter: High 32.30 31.83 26.47 21.20 37.01 Low 26.49 19.94 16.03 11.72 15.05 Close 29.57 29.67 21.15 18.31 19.85 Quarterly ratios: Return on average common shareholders' equity (5.10) % (1.27) % (1.25) % (1.90) % 0.19 % Return on average assets (0.19) 0.12 0.11 0.06 0.12 Efficiency ratio 70.52 67.14 72.75 66.61 68.19 Number of banking centers 447 444 441 440 439 Number of employees - full time equivalent 9,330 9,384 9,497 9,696 10,186 (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, 2009 ratios are estimated. PARENT COMPANY ONLY BALANCE SHEETS (unaudited) Comerica Incorporated December September 31, 30, December 31, (in millions, except share data) 2009 2009 2008 -------------------------------- ---- ---- ---- ASSETS Cash and due from subsidiary bank $5 $7 $11 Short-term investments with subsidiary bank 2,150 2,169 2,329 Other short-term investments 86 84 80 Investment in subsidiaries, principally banks 5,710 5,711 5,690 Premises and equipment 4 4 5 Other assets 186 197 210 ------------ --- --- --- Total assets $8,141 $8,172 $8,325 ------------ ------ ------ ------ LIABILITIES AND SHAREHOLDERS' EQUITY Medium- and long-term debt $986 $992 $1,002 Other liabilities 126 145 171 ----------------- --- --- --- Total liabilities 1,112 1,137 1,173 Fixed rate cumulative perpetual preferred stock, series F, no par value, $1,000 liquidation preference per share: Authorized -2,250,000 shares Issued -2,250,000 shares at 12/31/09, 09/30/09 and 12/31/08 2,151 2,145 2,129 Common stock - $5 par value: Authorized -325,000,000 shares Issued -178,735,252 shares at 12/31/09, 09/30/09 and 12/31/08 894 894 894 Capital surplus 740 738 722 Accumulated other comprehensive loss (336) (361) (309) Retained earnings 5,161 5,205 5,345 Less cost of common stock in treasury -27,555,623 shares at 12/31/09, 27,620,576 shares at 09/30/09 and 28,244,967 shares at 12/31/08 (1,581) (1,586) (1,629) -------------------------- ------ ------ ------ Total shareholders' equity 7,029 7,035 7,152 -------------------------- ----- ----- ----- Total liabilities and shareholders' equity $8,141 $8,172 $8,325 --------------------- ------ ------ ------ CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (unaudited) Comerica Incorporated and Subsidiaries Accumulated Nonredeemable Common Stock Other Total ------------ Preferred Shares Capital Comprehensive Retained Treasury Shareholders' (in millions, except per share data) Stock Outstanding Amount Surplus Loss Earnings Stock Equity ------------------------ ----- ----------- ------ ------- ---- -------- ----- ------ BALANCE AT JANUARY 1, 2008 $- 150.0 $894 $564 $(177) $5,497 $(1,661) $5,117 Net income - - - - - 213 - 213 Other comprehensive loss, net of tax - - - - (132) - - (132) ---- Total comprehensive income 81 Cash dividends declared on common stock ($2.31 per share) - - - - - (348) - (348) Purchase of common stock - - - - - - (1) (1) Issuance of preferred stock and related warrant 2,126 - - 124 - - - 2,250 Accretion of discount on preferred stock 3 - - - - (3) - - Net issuance of common stock under employee stock plans - 0.5 - (19) - (14) 33 - Share-based compensation - - - 53 - - - 53 ------------------------ --- --- --- --- --- --- --- --- 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 ---------------------------- ------ ----- ---- ---- ----- ------ ------- ------ BUSINESS SEGMENT FINANCIAL RESULTS (unaudited) Comerica Incorporated and Subsidiaries Wealth & (dollar amounts in millions) Business Retail Institutional Three Months Ended December 31, 2009 Bank Bank Management Finance Other Total --------------- ---- ---- ---------- ------- ----- ----- Earnings summary: Net interest income (expense) (FTE) $343 $129 $42 $(125) $9 $398 Provision for loan losses 180 36 19 - 22 257 Noninterest income 77 48 60 26 3 214 Noninterest expenses 164 161 76 2 21 424 Provision (benefit) for income taxes (FTE) 11 (8) 2 (39) (6) (40) Income from discontinued operations, net of tax - - - - - - --- --- --- --- --- --- Net income (loss) $65 $(12) $5 $(62) $(25) $(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) 0.80 % (0.27) % 0.38 % N/M N/M (0.19) % Return on average attributed equity 7.70 (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 38.98 90.98 75.98 N/M N/M 70.52 ---------- ----- ----- ----- --- --- ----- Wealth & Business Retail Institutional Three Months Ended September 30, 2009 Bank Bank Management Finance Other Total ------------------------------------- ---- ---- ---------- ------- ----- ----- Earnings summary: Net interest income (expense) (FTE) $346 $127 $42 $(136) $8 $387 Provision for loan losses 252 42 20 - (3) 311 Noninterest income 72 50 66 121 6 315 Noninterest expenses 160 154 73 3 9 399 Provision (benefit) for income taxes (FTE) (16) (8) 5 (11) 3 (27) Income from discontinued operations, net of tax - - - - - - --- --- --- --- --- --- Net income (loss) $22 $(11) $10 $(7) $5 $19 --- ---- --- --- --- --- Net credit-related charge-offs $195 $34 $10 $- $- $239 Selected average balances: Assets $34,822 $6,445 $4,856 $11,426 $4,399 $61,948 Loans 34,116 5,904 4,760 2 - 44,782 Deposits 15,735 17,563 2,735 3,969 38 40,040 Liabilities 16,002 17,532 2,725 18,361 263 54,883 Attributed equity 3,464 629 373 959 1,640 7,065 Statistical data: Return on average assets (a) 0.24 % (0.24) % 0.80 % N/M N/M 0.12 % Return on average attributed equity 2.45 (6.92) 10.40 N/M N/M (1.27) Net interest margin (b) 4.01 2.87 3.48 N/M N/M 2.68 Efficiency ratio 38.35 86.86 70.84 N/M N/M 67.14 ---------------- ----- ----- ----- --- --- ----- Wealth & Business Retail Institutional Three Months Ended December 30, 2008 Bank Bank Management Finance Other Total --------------- ---- ---- ---------- ------- ----- ----- Earnings summary: Net interest income (expense) (FTE) $329 $129 $38 $(66) $4 $434 Provision for loan losses 138 44 13 - (3) 192 Noninterest income 61 49 73 13 (22) 174 Noninterest expenses 172 180 80 3 (24) 411 Provision (benefit) for income taxes (FTE) 27 (12) 5 (19) (15) (14) Income from discontinued operations, net of tax - - - - 1 1 --- --- --- --- --- --- Net income (loss) $53 $(34) $13 $(37) $25 $20 --- ---- --- ---- --- --- Net credit- related charge-offs $101 $23 $9 $- $- $133 Selected average balances: Assets $41,332 $7,007 $4,879 $10,959 $1,804 $65,981 Loans 40,245 6,379 4,724 (4) (6) 51,338 Deposits 13,789 17,065 2,255 6,892 315 40,316 Liabilities 14,367 17,053 2,300 25,220 740 59,680 Attributed equity 3,337 665 341 979 979 6,301 Statistical data: Return on average assets (a) 0.51 % (0.76) % 1.05 % N/M N/M 0.12 % Return on average attributed equity 6.33 (20.18) 15.03 N/M N/M 0.19 Net interest margin (b) 3.24 3.01 3.14 N/M N/M 2.82 Efficiency ratio 44.15 100.79 75.73 N/M N/M 68.19 ---------- ----- ------ ----- --- --- ----- (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 -------------------- MARKET SEGMENT FINANCIAL RESULTS (unaudited) Comerica Incorporated and Subsidiaries Finance (dollar amounts in millions) Other & Other Three Months Ended December 31, 2009 Midwest Western Texas Florida Markets International Businesses Total --------------- ------- ------- ----- ------- ------- ------------- ---------- ----- Earnings summary: Net interest income (expense) (FTE) $205 $163 $78 $10 $40 $18 $(116) $398 Provision for loan losses 102 79 20 - 15 19 22 257 Noninterest income 106 33 23 3 11 9 29 214 Noninterest expenses 192 110 61 9 21 8 23 424 Provision (benefit) for income taxes (FTE) 4 - 7 1 (7) - (45) (40) Income from discontinued operations, net of tax - - - - - - - - --- --- --- --- --- --- --- --- Net income (loss) $13 $7 $13 $3 $22 $- $(87) $(29) --- --- --- --- --- --- ---- ---- Net credit- related charge- offs $97 $85 $13 $4 $13 $13 $- $225 Selected average balances: Assets $16,090 $13,484 $7,118 $1,608 $3,765 $1,688 $14,643 $58,396 Loans 15,811 13,289 6,934 1,613 3,458 1,663 (15) 42,753 Deposits 17,201 11,899 4,737 333 1,704 939 1,972 38,785 Liabilities 17,186 11,817 4,723 318 1,746 928 14,654 51,372 Attributed equity 1,529 1,386 691 176 401 172 2,669 7,024 Statistical data: Return on average assets (a) 0.28 % 0.21 % 0.75 % 0.63 % 2.32 % 0.06 % N/M (0.19) % Return on average attributed equity 3.38 2.00 7.74 5.72 21.78 0.58 N/M (5.10) Net interest margin (b) 4.73 4.85 4.46 2.57 4.57 4.22 N/M 2.94 Efficiency ratio 61.97 56.08 60.26 69.94 42.41 28.74 N/M 70.52 ---------------- ----- ----- ----- ----- ----- ----- -- ----- Finance Other & Other Three Months Ended September 30, 2009 Midwest Western Texas Florida Markets International Businesses Total ---------------- ------- ------- ----- ------- ------- ------------- ---------- ----- Earnings summary: Net interest income (expense) (FTE) $209 $159 $77 $11 $39 $20 $(128) $387 Provision for loan losses 144 101 29 24 10 6 (3) 311 Noninterest income 107 33 22 3 14 9 127 315 Noninterest expenses 188 106 58 10 17 8 12 399 Provision (benefit) for income taxes (FTE) (10) (8) 5 (8) (3) 5 (8) (27) Income from discontinued operations, net of tax - - - - - - - - --- --- --- --- --- --- --- --- Net income (loss) $(6) $(7) $7 $(12) $29 $10 $(2) $19 --- --- --- ---- --- --- --- --- Net credit- related charge- offs $102 $95 $22 $9 $10 $1 $- $239 Selected average balances: Assets $16,987 $14,114 $7,444 $1,673 $3,997 $1,908 $15,825 $61,948 Loans 16,387 13,923 7,221 1,674 3,683 1,892 2 44,782 Deposits 17,395 11,146 4,609 327 1,696 860 4,007 40,040 Liabilities 17,667 11,060 4,618 317 1,748 849 18,624 54,883 Attributed equity 1,577 1,393 722 180 418 176 2,599 7,065 Statistical data: Return on average assets (a) (0.14) % (0.20) % 0.39 % (2.81) % 2.92 % 1.94 % N/M 0.12 % Return on average attributed equity (1.74) (1.99) 4.01 (26.20) 27.91 21.01 N/M (1.27) Net interest margin (b) 4.72 4.53 4.22 2.70 4.24 4.08 N/M 2.68 Efficiency ratio 59.58 54.96 59.18 70.34 34.57 28.39 N/M 67.14 ---------------- ----- ----- ----- ----- ----- ----- -- ----- Finance Other & Other Three Months Ended December 30, 2008 Midwest Western Texas Florida Markets International Businesses Total --------------- ------- ------- ----- ------- ------- ------------- ---------- ----- Earnings summary: Net interest income (expense) (FTE) $202 $157 $72 $11 $38 $16 $(62) $434 Provision for loan losses 59 70 19 14 27 6 (3) 192 Noninterest income 109 34 20 4 9 7 (9) 174 Noninterest expenses 218 114 63 11 16 10 (21) 411 Provision (benefit) for income taxes (FTE) 20 5 6 (3) (11) 3 (34) (14) Income from discontinued operations, net of tax - - - - - - 1 1 --- --- --- --- --- --- --- --- Net income (loss) $14 $2 $4 $(7) $15 $4 $(12) $20 --- --- --- --- --- --- ---- --- Net credit- related charge- offs $38 $65 $8 $6 $16 $- $- $133 Selected average balances: Assets $19,942 $16,243 $8,215 $1,938 $4,612 $2,268 $12,763 $65,981 Loans 18,966 16,032 7,974 1,942 4,248 2,186 (10) 51,338 Deposits 16,204 10,762 4,070 222 1,206 645 7,207 40,316 Liabilities 16,733 10,716 4,090 216 1,330 635 25,960 59,680 Attributed equity 1,613 1,381 650 146 405 148 1,958 6,301 Statistical data: Return on average assets (a) 0.28 % 0.05 % 0.20 % (1.46) % 1.30 % 0.69 % N/M 0.12 % Return on average attributed equity 3.47 0.63 2.49 (19.46) 14.86 10.62 N/M 0.19 Net interest margin (b) 4.21 3.88 3.57 2.26 3.55 2.83 N/M 2.82 Efficiency ratio 70.37 59.54 68.41 72.81 37.57 43.36 N/M 68.19 ---------------- ----- ----- ----- ----- ----- ----- -- ----- (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 -------------------- RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (unaudited) Comerica Incorporated and Subsidiaries December September December 31, 30, June 30, March 31, 31, (dollar amounts in millions) 2009 2009 2009 2009 2008 ------------------ ---- ---- ---- ---- ---- Tier 1 capital (a) (b) $7,704 $7,735 $7,774 $7,760 $7,805 Less: Fixed rate cumulative perpetual preferred stock 2,151 2,145 2,140 2,134 2,129 Trust preferred securities 495 495 495 495 495 --------------- --- --- --- --- --- Tier 1 common capital (b) $5,058 $5,095 $5,139 $5,131 $5,181 ------------- ------ ------ ------ ------ ------ Risk-weighted assets (a) (b) $61,842 $63,355 $67,124 $70,135 $73,207 Tier 1 common capital ratio (b) 8.18 % 8.04 % 7.66 % 7.32 % 7.08 % ------------------ ---- ---- ---- ---- ---- Total shareholders' equity $7,029 $7,035 $7,093 $7,183 $7,152 Less: Fixed rate cumulative perpetual preferred stock 2,151 2,145 2,140 2,134 2,129 Goodwill 150 150 150 150 150 Other intangible assets 8 8 10 11 12 ---------------- --- --- --- --- --- Tangible common equity $4,720 $4,732 $4,793 $4,888 $4,861 --------------- ------ ------ ------ ------ ------ Total assets $59,263 $59,590 $63,630 $67,370 $67,548 Less: Goodwill 150 150 150 150 150 Other intangible assets 8 8 10 11 12 ---------------- --- --- --- --- --- Tangible assets $59,105 $59,432 $63,470 $67,209 $67,386 --------------- ------- ------- ------- ------- ------- Tangible common equity ratio 7.99 % 7.96 % 7.55 % 7.27 % 7.21 % --------------- ---- ---- ---- ---- ---- (a) Tier 1 capital and risk-weighted assets as defined by regulation. (b) December 31, 2009 Tier 1 capital and risk-weighted assets are estimated. ---------------------------------------------------------------------------- http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO http://photoarchive.ap.org/ DATASOURCE: Comerica Incorporated CONTACT: Media, Wayne J. Mielke, +1-214-462-4463, or Investor, Darlene P. Persons, +1-214-462-6831, or Walter Galloway, +1-214-462-6834, all of Comerica Incorporated Web Site: http://www.comerica.com/ http://www.comerica.com/ http://www.comerica.com/

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