Comerica (CMA) 8-K Comerica Reports First Quarter 2006 Earnings

Exhibit 99.1

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS

DETROIT/April 19, 2006— Comerica Incorporated (NYSE: CMA) today reported first quarter 2006 earnings of $194 million, or $1.18 per diluted share, compared to $207 million, or $1.25 per diluted share, for the fourth quarter 2005 and $199 million, or $1.16 per diluted share, for the first quarter 2005. Earnings were reduced by $8 million, or $0.05 per diluted share, in the first quarter 2006 due to the cumulative effect of a change in accounting principle.

(dollar amounts in millions, except per share data)	1st Qtr ‘06			4th Qtr ‘05			1st Qtr ‘05
Net interest income	$	479		$	501		$	460
Provision for loan losses		(27	)		(20	)		1
Noninterest income		215			281			210
Noninterest expenses
Provision for credit losses on lending-related commitments		13			25			(3	)
Noninterest expenses — other		436			462			377
Total noninterest expenses		449			487			374
Provision for income taxes		70			108			96
Income before cumulative effect of change in accounting principle		202			207			199
Cumulative effect of change in accounting principle, net of tax		(8	)		—			—
Net income	$	194		$	207		$	199
Diluted EPS before cumulative effect of change in accounting principle	$	1.23		$	1.25		$	1.16
Diluted EPS		1.18			1.25			1.16
Return on average common shareholders’ equity		15.33	%		16.28	%		15.73	%
Net interest margin		3.80			4.00			4.00

First Quarter 2006 Compared to Fourth Quarter 2005

• On an annualized basis, average loans increased 10 percent, led by 20 percent growth in the Western market, 11 percent growth in the Texas market and 3 percent growth in Midwest & Other Markets (growth rates exclude Financial Services Division loans).

• Net interest margin was 3.80 percent in the first quarter 2006, down from 4.00 percent in the fourth quarter 2005, due to lower noninterest-bearing deposits (principally Financial Services Division), competitive loan pricing, and loan growth in excess of deposit growth.

• Credit quality remained solid, with nonperforming assets declining 13 percent to $141 million at March 31, 2006.

• Noninterest income reflected increased revenue from the investment advisory (up 16 percent), brokerage (up 10 percent) and fiduciary (up 4 percent) businesses; fourth quarter 2005 noninterest income had included a $55 million gain on the sale of businesses.

• Noninterest expenses decreased $38 million, largely explained by lower incentives ($26 million), credit-related costs($17 million), charitable contributions ($10 million) and customer services expense ($6 million), partially offset by an increase in share-based compensation expense ($9 million) and interest expense on tax liabilities ($23 million) related to completion of an examination of the Corporation’s federal tax returns for the years 1996 through 2000, among other items.

• The provision for federal income taxes reflected a decrease ($16 million after tax) from the completion of the examination of the Corporation’s federal tax returns for the years 1996 through 2000.

• The quarterly cash dividend was increased by 7.3 percent to $0.59 per share. Comerica has increased its annual dividend for 37 consecutive years.

- more -

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS – 2

“Our first quarter financial results reflect solid loan growth across all our businesses and geographic markets,” said Ralph W. Babb Jr., chairman and chief executive officer. “Credit quality continued to be excellent. Deposits were down, however, because customers are investing in their businesses, and because of slower real estate activity in our Western Market, which affects title and escrow deposits in our Financial Services Division. Our net interest margin declined, due in part to the decline in deposits.”

Net Interest Income

Net interest income was $479 million for the first quarter 2006, compared to $501 million for the fourth quarter 2005 and $460 million for the first quarter 2005. The $22 million decrease in net interest income from the fourth quarter 2005 level resulted principally from a combination of lower noninterest-bearing deposits (mostly in the Financial Services Division), lower loan spreads (including lower fees), and the impact of two less days ($11 million) in the first quarter 2006. Average earning assets of $51.0 billion for the first quarter 2006 increased $1.2 billion from the fourth quarter 2005, primarily the result of a $1.2 billion, or three percent, increase in average loans to $46.5 billion for the first quarter 2006. Average deposits of $41.2 billion for the first quarter 2006 decreased $280 million from the fourth quarter 2005. Total average noninterest-bearing deposits declined $1.5 billion, of which $1.2 billion was in the Financial Services Division, resulting from an overall decline in mortgage financing activity and first quarter seasonality.

The net interest margin was 3.80 percent in the first quarter 2006, compared to 4.00 percent for both the fourth quarter 2005 and the first quarter 2005. The first quarter 2006 net interest margin was impacted by the items described above.

Noninterest Income

Noninterest income was $215 million for the first quarter 2006, compared to $281 million for the fourth quarter 2005 and $210 million for the first quarter 2005. Fee income increased in Wealth & Institutional Management in the first quarter 2006, mostly from new business. Commercial lending fees were seasonally down in the first quarter 2006 compared to the fourth quarter 2005. Other categories of noninterest income are highlighted in the table below. The $66 million decrease in noninterest income in the first quarter 2006 compared to the fourth quarter 2005 was largely due to the net gain on sales of businesses of $55 million in the fourth quarter 2005 from the sale of the Corporation’s interest in Framlington Group Limited. In addition, the Corporation recorded a $5 million impairment charge on assets held-for-sale in the first quarter 2006. Risk management hedge ineffectiveness relates to LIBOR and prime interest rate swap hedges and foreign exchange balance sheet hedges, and varies from period to period as rates and rate spreads change.

(in millions)	1st Qtr ‘06			4th Qtr ‘05		1st Qtr ‘05
Net gain on sales of businesses	$	—		$	55	$	—
Other noninterest income
Impairment on assets held-for-sale		(5	)		—		—
Risk management hedge ineffectiveness		(2	)		6		(5	)

- more -

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS – 3

Noninterest Expenses

Noninterest expenses were $449  million for the first quarter 2006, compared to $487 million for the fourth quarter 2005 and $374 million for the first quarter 2005. Certain categories of noninterest expenses are highlighted in the table below. Share-based compensation increased $9 million, primarily from the adoption of the requisite service period provision of SFAS No. 123(R) for annual share-based grants. Customer services expense varies from period-to-period as a result of changes in the level of noninterest-bearing deposits in the Corporation’s Financial Services Division, the earnings credit allowance provided on these deposits, and a competitive environment. The provision for credit losses on lending-related commitments was $13 million, increasing the allowance for credit losses on lending-related commitments for exposure to the automotive industry.

(in millions)	1st Qtr ‘06		4th Qtr ‘05		1st Qtr ‘05
Salaries
Salaries — regular	$	155	$	155	$	144
Severance		1		3		1
Incentives		29		55		35
Share-based compensation		21		12		9
Total salaries		206		225		189
Employee benefits — pension expense		12		8		8
Customer services		13		19		11
Provision for credit losses on lending-related commitments		13		25		(3	)
Other noninterest expenses
Interest on tax liabilities		26		3		2
Charitable contributions		1		11		—
Other real estate expense		4		9		1

Tax-related Items

During the first quarter 2006, the Internal Revenue Service (IRS) completed the examination of the Corporation’s federal tax returns for the years 1996 through 2000. The benefits of certain types of structured lease transactions and a series of loans to foreign borrowers were disallowed by the IRS. The Corporation intends to defend its tax position on these two matters. Interest expense (included in noninterest expenses) and tax reserves were adjusted to reflect an updated assessment of reserves for these two items and final resolution of all other matters for those tax years. The effect of these adjustments decreased federal taxes ($16 million after-tax) and caused the increase in interest on tax liabilities ($23 million, $15 million after-tax). The effective tax rate for the remaining periods in 2006 is expected to be about 31 percent.

Change in Accounting Principle — Transition Adjustment

SFAS No. 123(R), adopted on January 1, 2006, affected the accounting for grants of options and restricted shares in Munder Capital Management (Munder). The amortization expense now must be based on current valuations of Munder, instead of valuations at the original grant date. The $8 million after-tax change in accounting principle on January 1, 2006 cumulatively recorded the new accounting. After a further valuation change at the end of March 2006, certain provisions in Munder’s option and restricted share plans were amended to eliminate the need for future adjustments to the amortization expense.

- more -

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS – 4

Credit Quality

“Consistently solid credit quality metrics in the first quarter 2006 resulted in a $36 million decline in the allowance for credit losses from the fourth quarter,” said Babb. “Nonperforming assets continued to improve from already low levels.”

(dollar amounts in millions)	1st Qtr ‘06			4th Qtr ‘05			1st Qtr ‘05
Net loan charge-offs	$	17		$	22		$	38
Net lending-related commitment charge-offs		5			6			—
	‘
Total net credit-related charge-offs		22			28			38
Net loan charge-offs/Average total loans		0.14	%		0.20	%		0.36	%
Provision for loan losses	$	(27	)	$	(20	)	$	1
Provision for credit losses on lending-related commitments		13			25			(3	)
	‘
Total provision for credit losses		(14	)		5			(2	)
Nonperforming assets (NPAs)		141			162			311
NPAs/Total loans, other real estate & nonaccrual debt securities		0.32	%		0.37	%		0.75	%
Allowance for loan losses	$	472		$	516		$	636
Allowance for credit losses on lending-related commitments*		41			33			18
	‘
Total allowance for credit losses		513			549			654
Allowance for loan losses/Total loans		1.06	%		1.19	%		1.52	%
Allowance for loan losses/NPAs		334			319			204

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

During the first quarter 2006, $20 million of loans greater than $2 million were transferred to nonaccrual status, a decrease of $8 million from the fourth quarter 2005. Nonperforming assets were $141 million at March 31, 2006, a decrease of $21 million from December 31, 2005.

Balance Sheet and Capital Management

Total assets and common shareholders’ equity were $56.4 billion and $5.1 billion, respectively, at March 31, 2006, compared to $53.0 billion and $5.1 billion, respectively, at December 31, 2005. There were approximately 162 million shares outstanding at March 31, 2006, compared to approximately 163 million shares outstanding at December 31, 2005. In the first quarter 2006, approximately 1.5 million shares were repurchased in the open market for $86 million. Comerica’s first quarter 2006 estimated tier 1 common, tier 1 and total risk-based capital ratios were 7.70 percent, 8.28 percent and 11.74 percent, respectively.

Full Year 2006 Outlook

• Mid-to-high single digit average loan growth excluding Financial Services Division loans

• Average full year net interest margin of about 3.80 to 3.85 percent

• Credit-related net charge-offs of 20 to 25 basis points of average loans and, for the remainder of 2006, a provision for credit losses consistent with credit-related net charge-offs

• Low-single digit noninterest income growth, excluding net gain on sales of businesses

• Low-single digit noninterest expense growth, excluding the provision for credit losses on lending-related commitments (included in above outlook for the provision for credit losses)

• Active capital management

- more -

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS – 5

Business Segments

Comerica’s operations are strategically aligned into three major business segments: the Business Bank, the Retail Bank (formerly known as Small Business & Personal Financial Services), and Wealth & Institutional Management. The Finance Division also is included as a segment. In the first quarter 2006, the Corporation allocated (including prior periods) the portion of the allowance for loan losses based on industry-specific and international risks, previously included in the Other category, to the three major business segments. The financial results below are based on the internal business unit structure of the Corporation and methodologies in effect at March 31, 2006 and are presented on a fully taxable equivalent (FTE) basis.

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

(dollar amounts in millions)	1st Qtr ‘06					4th Qtr ‘05					1st Qtr ‘05
Business Bank	$	144		77	%	$	135		67	%	$	172		71	%
Retail Bank		36		19			30		14			45		19
Wealth & Institutional Management		8		4			38		19			25		10
		188		100	%		203		100	%		242		100	%
Finance		(3	)				(4	)				(30	)
Other*		9					8					(13	)
Total	$	194				$	207				$	199

* Includes items not directly associated with the three major business segments or the Finance Division

Net income for the Business Bank was $144 million for the first quarter 2006, compared to $135 million for the fourth quarter 2005. Net interest income (FTE) of $314 million in the first quarter 2006 decreased $23 million from the fourth quarter 2005, principally due to a combination of lower demand deposits (mostly in the Financial Services Division), lower loan spreads (including lower fees), and the impact of two less days in the first quarter 2006. Average loans of $36.9 billion in the first quarter 2006 increased $1.0 billion, or 12 percent on an annualized basis, compared to the fourth quarter 2005, primarily due to increases in loans in the National Dealer Services, Middle Market, and Commercial Real Estate businesses. Average deposits of $18.9 billion in the first quarter 2006 decreased $1.7 billion compared to the fourth quarter 2005, primarily due to a decrease in noninterest-bearing deposits in the Financial Services Division. The first quarter 2006 net interest margin of 3.45 percent decreased 27 basis points, primarily due to the items described above. As a result of loan growth and a smaller benefit from improving credit quality trends, the provision for loan losses increased $18 million from a negative $31 million in the fourth quarter 2005 to a negative$13 million in the first quarter 2006. Noninterest income of $63 million in the first quarter 2006 decreased $8 million from the fourth quarter 2005, primarily due to a $5 million impairment charge on assets held-for-sale recorded in the first quarter 2006. First quarter 2006 noninterest expenses of $187 million decreased $39 million from the fourth quarter 2005, primarily due to decreases in the provision for credit losses on lending-related commitments, incentive-related costs, corporate overhead expenses, and customer services expense.

- more -

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS – 6

Net income for the Retail Bank was $36 million for the first quarter 2006, compared to $30 million for the fourth quarter 2005. Net interest income (FTE) of $155 million in the first quarter 2006 decreased $2 million, primarily due to the impact of two less days in the first quarter 2006. Average loans of $6.0 billion in the first quarter 2006 increased $125 million, or nine percent on an annualized basis, compared to the fourth quarter 2005. Average deposits of $16.7 billion in the first quarter 2006 were relatively unchanged compared to the fourth quarter 2005. The first quarter 2006 net interest margin increased four basis points to 3.75 percent. Noninterest expenses of $145 million in the first quarter 2006 declined $9 million from the fourth quarter 2005, due in part to a decline in corporate overhead expenses.

Net income for Wealth & Institutional Management was $8 million for the first quarter 2006, compared to $38 million for the fourth quarter 2005. Net interest income (FTE) of $38 million in the first quarter 2006 decreased $1 million compared to the fourth quarter 2005. First quarter 2006 average loans of $3.5 billion increased $60 million, or seven percent on an annualized basis, and average deposits of $2.5 billion declined $77 million compared to the fourth quarter 2005. The first quarter 2006 net interest margin of 4.36 percent decreased eight basis points compared to the fourth quarter 2005 as loans grew and deposits declined. First quarter 2006 noninterest income of $84 million decreased $53 million from the fourth quarter 2005, primarily due to a $55 million net gain on the sale of the Corporation’s interest in Framlington Group Limited in the fourth quarter 2005. First quarter 2006 noninterest expenses of $98 million decreased $16 million compared to the fourth quarter 2005, primarily due to decreases in incentive-related costs, other real estate expenses, and corporate overhead expenses. In addition, there was an $8 million, net of tax, transition adjustment related to the adoption of SFAS No. 123(R) recorded in the first quarter 2006 associated with Munder Capital Management.

Geographic Market Segments

Comerica also provides market segment results for four primary geographic markets: Midwest & Other Markets, Western, Texas and Florida. The financial results below are based on methodologies in effect at March 31, 2006 and are presented on a FTE basis.

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

(dollar amounts in millions)	1st Qtr ‘06				4th Qtr ‘05				1st Qtr ‘05
Midwest & Other Markets	$	102	55	%	$	118	58	%	$	141		58	%
Western		61	32			64	32			77		32
Texas		21	11			19	9			21		9
Florida		4	2			2	1			3		1
		188	100	%		203	100	%		242		100	%
Finance & Other*		6				4				(43	)
Total	$	194			$	207			$	199

* Includes items not directly associated with the four primary geographic markets

Net income for the Midwest & Other Markets was $102 million in the first quarter 2006, compared to $118 million in the fourth quarter 2005. Net interest income (FTE) of $266 million in the first quarter 2006 decreased $6 million from the fourth quarter 2005, principally due to a combination of lower deposits, lower loan spreads, and the impact of two less days in the first quarter 2006. Average loans of $23.7 billion in the first quarter 2006

- more -

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS – 7

increased $203 million, or three percent on an annualized basis, compared to the fourth quarter 2005. Average deposits in the first quarter 2006 of $18.7 billion decreased $167 million compared to the fourth quarter 2005. The first quarter 2006 net interest margin decreased two basis points to 4.53 percent. The provision for loan losses increased $15 million, primarily due to loan growth and a smaller benefit from improving credit quality trends in the first quarter 2006 compared to the fourth quarter 2005. Noninterest income of $147 million in the first quarter 2006 decreased $56 million compared to the fourth quarter 2005, primarily due to a $55 million gain on the sale of the Corporation’s interest in Framlington Group Limited in the fourth quarter 2005, and a $5 million impairment on assets held-for-sale in the first quarter 2006. First quarter 2006 noninterest expenses of $263 million decreased $43 million compared to the fourth quarter 2005, primarily due to decreases in the provision for credit losses on lending-related commitments, incentive-related costs, and corporate overhead expenses. In addition, there was an $8 million, net of tax, transition adjustment related to the adoption of SFAS No. 123(R) recorded in the first quarter 2006 associated with Munder Capital Management.

Net income for the Western market was $61 million for the first quarter 2006, compared to $64 million for the fourth quarter 2005. Net interest income (FTE) of $169 million in the first quarter 2006 decreased $19 million from the fourth quarter 2005, primarily due to a $1.5 billion decrease in average Financial Services Division deposits and the impact of two less days in the first quarter 2006. Excluding the Financial Services Division, average loans of $12.8 billion in the first quarter 2006 increased $618 million, or 20 percent on an annualized basis, primarily due to an increase in the National Dealer Services business. Average deposits of $15.4 billion in the first quarter 2006 decreased $1.6 billion compared to the fourth quarter 2005, primarily due to a decrease in noninterest-bearing deposits in the Financial Services Division. The first quarter 2006 net interest margin decreased four basis points to 4.33 percent. Noninterest income of $28 million in the first quarter 2006 decreased $5 million compared to the fourth quarter 2005, and was due to smaller amounts spread across several categories. First quarter noninterest expenses of $109 million decreased $15 million from the fourth quarter 2005, primarily due to decreases in customer services expense, incentive-related costs, and corporate overhead expenses.

Net income for the Texas market was $21 million for the first quarter 2006, compared to $19 million for the fourth quarter 2005. First quarter 2006 net interest income (FTE) of $61 million declined $2 million compared to the fourth quarter 2005. Average loan balances of $5.4 billion in the first quarter 2006 increased $139 million, or 11 percent on an annualized basis, compared to fourth quarter 2005. Average deposit balances of $3.7 billion in the first quarter 2006 decreased $44 million compared to the fourth quarter 2005. The first quarter 2006 net interest margin of 4.55 percent declined 18 basis points, primarily due to lower loan spreads. Noninterest expenses of $50 million for the first quarter 2006 decreased $5 million compared to the fourth quarter 2005, primarily due to lower corporate overhead expenses and incentive-related costs.

Net income for the Florida market was $4 million for the first quarter 2006, compared to $2 million for the fourth quarter 2005. First quarter 2006 net interest income (FTE) of $11 million increased $1 million compared to the fourth quarter 2005. Average loans of $1.6 billion in the first quarter 2006 increased $119 million, or 32 percent on an annualized basis, while average deposits of $307 million in the first quarter 2006 were flat compared to the fourth quarter 2005. The first quarter 2006 net interest margin of 2.80 percent increased 10 basis points.

- more -

COMERICA REPORTS FIRST QUARTER 2006 EARNINGS – 8

Conference Call and Webcast

Comerica will host a conference call to review first quarter 2006 financial results at 8 a.m. ET Wednesday, April 19, 2006. Interested parties may access the conference call by calling (706) 679-5261 (event ID No. 6764003). The call and supplemental financial information can also be accessed on the Internet at www.comerica.com. A replay of the conference call will be available approximately two hours following the call through Wednesday, May 17, 2006. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 6764003). 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 Detroit, strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. Comerica Bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, and Canada and Mexico.

Forward-looking Statements

Any statements in this news release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “feels,” “expects,” “estimates,” “seeks,” “strives,” “plans,” “intends,” “outlook,” “forecast,” “position,” “target,” “mission,” “assume,” “achievable,” “potential,” “strategy,” “goal,” “aspiration,” “outcome,” “continue,” “remain,” “maintain,” “trend,” “objective” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, as they relate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated on the beliefs and assumptions of Comerica’s management based on information known to Comerica’s management as of the date of this news release and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives of Comerica’s management for future or past operations, products or services, and forecasts of Comerica’s revenue, earnings or other measures of economic performance, including statements of profitability, business segments and subsidiaries, estimates of credit trends and global stability. Such statements reflect the view of Comerica’s management as of this date with respect to future events and are subject to risks and uncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica’s actual results could differ materially from those discussed. Factors that could cause or contribute to such differences are changes in the pace of an economic recovery and related changes in employment levels, the effects of war and other armed conflicts or acts of terrorism, the effects of natural disasters including, but not limited to, hurricanes, tornadoes, earthquakes and floods, the implementation of Comerica’s strategies and business models, management’s ability to maintain and expand customer relationships, 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, automotive production, 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 conditions and related credit and market conditions and adverse conditions in the stock market. Comerica cautions that the foregoing list of factors is not exclusive. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this news release or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Media Contacts:	Investor Contacts:
Sharon R. McMurray	Paul E. Burdiss
(313) 222-4881	(313) 222-2840
Wayne J. Mielke	Paul Jaremski
(313) 222-4732	(313) 222-6317

CONSOLIDATED FINANCIAL HIGHLIGHTS
Comerica Incorporated and Subsidiaries

	Three Months Ended
	March 31,			December 31,			March 31,
(in millions, except per share data)	2006			2005			2005
PER SHARE AND COMMON STOCK DATA
Diluted income before cumulative effect of change in accounting principle	$	1.23		$	1.25		$	1.16
Diluted net income		1.18			1.25			1.16
Cash dividends declared		0.59			0.55			0.55
Common shareholders’ equity (at period end)		31.39			31.11			29.81
Average diluted shares (in thousands)		164,057			165,738			171,382
KEY RATIOS
Return on average common shareholders’ equity		15.33	%		16.28	%		15.73	%
Return on average assets		1.41			1.53			1.57
Average common shareholders’ equity as a percentage of average assets		9.17			9.42			9.99
Tier 1 common capital ratio *		7.70			7.86			8.04
Tier 1 risk-based capital ratio *		8.28			8.46			8.66
Total risk-based capital ratio *		11.74			11.75			12.49
Leverage ratio *		9.90			9.99			10.50
AVERAGE BALANCES
Commercial loans	$	26,620		$	25,666		$	23,248
Real estate construction loans		3,530			3,416			3,052
Commercial mortgage loans		8,998			8,799			8,315
Residential mortgage loans		1,492			1,465			1,310
Consumer loans		2,660			2,675			2,734
Lease financing		1,298			1,288			1,261
International loans		1,881			1,940			2,235
Total loans		46,479			45,249			42,155
Earning assets		50,977			49,764			46,645
Total assets		55,277			54,130			50,750
Interest-bearing deposits		27,589			26,320			25,662
Total interest-bearing liabilities		35,371			32,683			30,380
Noninterest-bearing deposits		13,609			15,158			14,120
Common shareholders’ equity		5,072			5,101			5,072
NET INTEREST INCOME
Net interest income (fully taxable equivalent basis)	$	480		$	502		$	461
Fully taxable equivalent adjustment		1			1			1
Net interest margin		3.80	%		4.00	%		4.00	%
CREDIT QUALITY
Nonaccrual loans	$	122		$	138		$	269
Other real estate		19			24			42
Total nonperforming assets		141			162			311
Loans past due 90 days or more and still accruing		16			16			23
Gross loan charge-offs		25			38			46
Loan recoveries		8			16			8
Net loan charge-offs		17			22			38
Net lending-related commitment charge-offs		5			6			—
Total net credit-related charge-offs		22			28			38
Allowance for loan losses		472			516			636
Allowance for credit losses on lending-related commitments		41			33			18
Total allowance for credit losses		513			549			654
Allowance for loan losses as a percentage of total loans		1.06	%		1.19	%		1.52	%
Net loan charge-offs as a percentage of average total loans		0.14			0.20			0.36
Nonperforming assets as a percentage of total loans, other real estate and nonaccrual debt securities		0.32			0.37			0.75
Allowance for loan losses as a percentage of total nonperforming assets		334			319			204
ADDITIONAL DATA
Goodwill	$	213		$	213		$	247
Other intangibles		1			1			1
Loan servicing rights		17			19			19
Deferred mutual fund distribution costs		6			6			7

* March 31, 2006 ratios are estimated

-9-

CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries

	March 31,			December 31,			March 31,
(in millions, except share data)	2006			2005			2005
ASSETS
Cash and due from banks	$	1,685		$	1,609		$	1,835
Short-term investments		3,027			1,159			3,794
Investment securities available-for-sale		4,251			4,240			3,687
Commercial loans		24,738			23,545			22,780
Real estate construction loans		3,679			3,482			3,035
Commercial mortgage loans		9,146			8,867			8,415
Residential mortgage loans		1,516			1,485			1,335
Consumer loans		2,607			2,697			2,700
Lease financing		1,292			1,295			1,262
International loans		1,761			1,876			2,209
Total loans		44,739			43,247			41,736
Less allowance for loan losses		(472	)		(516	)		(636	)
Net loans		44,267			42,731			41,100
Premises and equipment		516			510			463
Customers’ liability on acceptances outstanding		60			59			40
Accrued income and other assets		2,635			2,705			2,591
Total assets	$	56,441		$	53,013		$	53,510
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	15,772		$	15,666		$	17,216
Interest-bearing deposits		28,324			26,765			25,490
Total deposits		44,096			42,431			42,706
Short-term borrowings		1,901			302			408
Acceptances outstanding		60			59			40
Accrued expenses and other liabilities		1,228			1,192			1,043
Medium- and long-term debt		4,062			3,961			4,283
Total liabilities		51,347			47,945			48,480
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 3/31/06, 12/31/05 and 3/31/05		894			894			894
Capital surplus		466			461			433
Accumulated other comprehensive loss		(198	)		(170	)		(154	)
Retained earnings		4,880			4,796			4,427
Less cost of common stock in treasury — 16,461,565 shares at 3/31/06, 15,834,985 shares at 12/31/05 and 9,988,453 shares at 3/31/05		(948	)		(913	)		(570	)
Total shareholders’ equity		5,094			5,068			5,030
Total liabilities and shareholders’ equity	$	56,441		$	53,013		$	53,510

-10-

CONSOLIDATED STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	Three Months Ended
	March 31,
(in millions, except per share data)	2006			2005
INTEREST INCOME
Interest and fees on loans	$	723		$	566
Interest on investment securities		44			35
Interest on short-term investments		5			6
Total interest income		772			607
INTEREST EXPENSE
Interest on deposits		199			108
Interest on short-term borrowings		42			3
Interest on medium- and long-term debt		52			36
Total interest expense		293			147
Net interest income		479			460
Provision for loan losses		(27	)		1
Net interest income after provision for loan losses		506			459
NONINTEREST INCOME
Service charges on deposit accounts		54			54
Fiduciary income		45			46
Commercial lending fees		15			12
Letter of credit fees		16			20
Foreign exchange income		10			9
Brokerage fees		10			8
Investment advisory revenue, net		17			10
Card fees		11			9
Bank-owned life insurance		13			9
Warrant income		1			2
Net securities losses		(2	)		—
Other noninterest income		25			31
Total noninterest income		215			210
NONINTEREST EXPENSES
Salaries		206			189
Employee benefits		51			47
Total salaries and employee benefits		257			236
Net occupancy expense		31			32
Equipment expense		14			14
Outside processing fee expense		21			17
Software expense		14			12
Customer services		13			11
Litigation and operational losses		1			3
Provision for credit losses on lending-related commitments		13			(3	)
Other noninterest expenses		85			52
Total noninterest expenses		449			374
Income before income taxes and cumulative effect of change in accounting principle		272			295
Provision for income taxes		70			96
Income before cumulative effect of change in accounting principle		202			199
Cumulative effect of change in accounting principle, net of tax		(8	)		—
NET INCOME	$	194		$	199
Basic earnings per common share:
Income before cumulative effect of change in accounting principle	$	1.25		$	1.18
Net income		1.20			1.18
Diluted earnings per common share:
Income before cumulative effect of change in accounting principle		1.23			1.16
Net income		1.18			1.16
Cash dividends declared on common stock		96			93
Dividends per common share		0.59			0.55

-11-

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	First				Fourth			Third			Second			First			First Quarter 2006 Compared To:
	Quarter				Quarter			Quarter			Quarter			Quarter			Fourth Quarter 2005						First Quarter 2005
(in millions, except per share data)	2006				2005			2005			2005			2005			Amount			Percent			Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	723			$	698		$	674		$	616		$	566		$	25			3.6	%	$	157			27.7	%
Interest on investment securities		44				41			38			34			35			3			6.4			9			26.5
Interest on short-term investments		5				6			7			5			6			(1	)		(20.1	)		(1	)		(13.4	)
Total interest income		772				745			719			655			607			27			3.6			165			27.2
INTEREST EXPENSE
Interest on deposits		199				171			147			122			108			28			15.9			91			84.3
Interest on short-term borrowings		42				24			16			9			3			18			74.0			39			N/M
Interest on medium- and long-term debt		52				49			44			41			36			3			7.5			16			45.8
Total interest expense		293				244			207			172			147			49			20.0			146			99.8
Net interest income		479				501			512			483			460			(22	)		(4.4	)		19			4.1
Provision for loan losses		(27	)			(20	)		(30	)		2			1			(7	)		(35.0	)		(28	)		N/M
Net interest income after provision for loan losses		506				521			542			481			459			(15	)		(2.9	)		47			10.2
NONINTEREST INCOME
Service charges on deposit accounts		54				55			55			54			54			(1	)		(2.3	)		—			(0.7	)
Fiduciary income		45				44			44			43			46			1			3.5			(1	)		(0.3	)
Commercial lending fees		15				19			16			16			12			(4	)		(19.9	)		3			29.8
Letter of credit fees		16				14			18			18			20			2			16.3			(4	)		(22.9	)
Foreign exchange income		10				10			9			9			9			—			2.9			1			13.0
Brokerage fees		10				9			10			9			8			1			10.2			2			24.0
Investment advisory revenue, net		17		��		15			14			12			10			2			15.6			7			64.2
Card fees		11				11			10			9			9			—			(2.8	)		2			27.6
Bank-owned life insurance		13				10			9			10			9			3			37.4			4			43.2
Warrant income		1				2			2			3			2			(1	)		(62.4	)		(1	)		(67.2	)
Net securities losses		(2	)			—			—			—			—			(2	)		N/M			(2	)		N/M
Net gain on sales of businesses		—				55			1			—			—			(55	)		N/M			—			N/M
Other noninterest income		25				37			44			36			31			(12	)		(32.2	)		(6	)		(17.1	)
Total noninterest income		215				281			232			219			210			(66	)		(23.3	)		5			2.4
NONINTEREST EXPENSES
Salaries		206				225			209			197			189			(19	)		(8.7	)		17			8.9
Employee benefits		51				47			46			44			47			4			10.0			4			8.6
Total salaries and employee benefits		257				272			255			241			236			(15	)		(5.5	)		21			8.8
Net occupancy expense		31				31			30			28			32			—			(2.4	)		(1	)		(4.4	)
Equipment expense		14				14			14			14			14			—			(0.1	)		—			(0.7	)
Outside processing fee expense		21				22			19			20			17			(1	)		(3.7	)		4			21.3
Software expense		14				14			12			11			12			—			(1.8	)		2			18.2
Customer services		13				19			29			10			11			(6	)		(30.2	)		2			24.7
Litigation and operational losses		1				4			4			7			3			(3	)		(72.1	)		(2	)		(63.2	)
Provision for credit losses on lending-related commitments		13				25			(1	)		(3	)		(3	)		(12	)		(47.8	)		16			N/M
Other noninterest expenses		85				86			60			55			52			(1	)		(0.6	)		33			60.9
Total noninterest expenses		449				487			422			383			374			(38	)		(7.8	)		75			20.0
Income before income taxes and cumulative effect of change in accounting principle		272				315			352			317			295			(43	)		(13.4	)		(23	)		(7.7	)
Provision for income taxes		70				108			114			100			96			(38	)		(34.4	)		(26	)		(26.7	)
Income before cumulative effect of change in accounting principle		202				207			238			217			199			(5	)		(2.6	)		3			1.4
Cumulative effect of change in accounting principle, net of tax		(8	)			—			—			—			—			(8	)		N/M			(8	)		N/M
NET INCOME	$	194			$	207		$	238		$	217		$	199		$	(13	)		(6.4	)%	$	(5	)		(2.5)	%
Basic earnings per common share:
Income before cumulative effect of change in accounting principle	$	1.25			$	1.27		$	1.43		$	1.29		$	1.18		$	(0.02	)		(1.6	)%	$	0.07			5.9	%
Net income		1.20				1.27			1.43			1.29			1.18			(0.07	)		(5.5	)		0.02			1.7
Diluted earnings per common share:
Income before cumulative effect of change in accounting principle		1.23				1.25			1.41			1.28			1.16			(0.02	)		(1.6	)		0.07			6.0
Net income		1.18				1.25			1.41			1.28			1.16			(0.07	)		(5.6	)		0.02			1.7
Cash dividends declared on common stock		96				90			92			92			93			6			7.0			3			3.4
Dividends per common share		0.59				0.55			0.55			0.55			0.55			0.04			7.3			0.04			7.3

N/M — Not meaningful

-12-

ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
Comerica Incorporated and Subsidiaries

	2006			2005
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Balance at beginning of period	$	516		$	558		$	609		$	636		$	673
Loans charged-off:
Commercial		12			14			20			29			28
Real estate construction:
Real estate construction business line		—			1			1			—			—
Other		—			—			—			—			—
Total real estate construction		—			1			1			—			—
Commercial mortgage:
Commercial real estate business line		—			—			—			2			2
Other		2			1			4			5			3
Total commercial mortgage		2			1			4			7			5
Residential mortgage		—			1			—			—			—
Consumer		3			3			6			3			3
Lease financing		6			18			13			3			3
International		2			—			3			1			7
Total loans charged-off		25			38			47			43			46
Recoveries on loans previously charged-off:
Commercial		4			13			23			12			7
Real estate construction		—			—			—			—			—
Commercial mortgage		2			1			1			1			—
Residential mortgage		—			—			—			—			—
Consumer		1			2			2			—			1
Lease financing		—			—			—			—			—
International		1			—			—			1			—
Total recoveries		8			16			26			14			8
Net loans charged-off		17			22			21			29			38
Provision for loan losses		(27	)		(20	)		(30	)		2			1
Balance at end of period	$	472		$	516		$	558		$	609		$	636
Allowance for loan losses as a percentage of total loans		1.06	%		1.19	%		1.33	%		1.41	%		1.52	%
Net loans charged-off as a percentage of average total loans		0.14			0.20			0.18			0.27			0.36

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

	2006		2005
(in millions)	1st Qtr		4th Qtr		3rd Qtr			2nd Qtr			1st Qtr
Balance at beginning of period	$	33	$	14	$	15		$	18		$	21
Charge-offs on lending-related commitments (1)		5		6		—			—			—
Provision for credit losses on lending-related commitments		13		25		(1	)		(3	)		(3	)
Balance at end of period	$	41	$	33	$	14		$	15		$	18
Unfunded lending-related commitments sold	$	52	$	20	$	—		$	18		$	27

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

-13-

NONPERFORMING ASSETS
Comerica Incorporated and Subsidiaries

	2006			2005
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS
Nonaccrual loans:
Commercial	$	53		$	65		$	81		$	125		$	161
Real estate construction:
Real estate construction business line		2			3			4			8			18
Other		—			—			—			2			2
Total real estate construction		2			3			4			10			20
Commercial mortgage:
Commercial real estate business line		11			6			9			9			11
Other		29			29			35			32			38
Total commercial mortgage		40			35			44			41			49
Residential mortgage		1			2			1			2			2
Consumer		2			2			1			2			1
Lease financing		7			13			39			9			12
International		17			18			16			23			24
Total nonaccrual loans		122			138			186			212			269
Reduced—rate loans		—			—			—			—			—
Total nonperforming loans		122			138			186			212			269
Other real estate		19			24			34			34			42
Nonaccrual debt securities		—			—			—			—			—
Total nonperforming assets	$	141		$	162		$	220		$	246		$	311
Nonperforming loans as a percentage of total loans		0.27	%		0.32	%		0.44	%		0.49	%		0.64	%
Nonperforming assets as a percentage of total loans, other real estate and nonaccrual debt securities		0.32			0.37			0.52			0.57			0.75
Allowance for loan losses as a percentage of total nonperforming assets		334			319			253			248			204
Loans past due 90 days or more and still accruing	$	16		$	16		$	14		$	24		$	23
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	138		$	186		$	212		$	269		$	312
Loans transferred to nonaccrual (1)		20			28			81			47			66
Nonaccrual business loan gross charge-offs (2)		(21	)		(34	)		(40	)		(38	)		(42	)
Loans transferred to accrual status (1)		—			(11	)		—			—			(4	)
Nonaccrual business loans sold (3)		(9	)		(4	)		(19	)		—			(14	)
Payments/Other (4)		(6	)		(27	)		(48	)		(66	)		(49	)
Nonaccrual loans at end of period	$	122		$	138		$	186		$	212		$	269

(1) Based on an analysis of nonaccrual loans with book balances greater than $2 million.
(2) Analysis of gross loan charge-offs:
Nonaccrual business loans	$	21	$	34	$	40	$	38	$	42
Performing watch list loans		1		—		1		2		1
Consumer loans and residential mortgage loans		3		4		6		3		3
Total gross loan charge-offs	$	25	$	38	$	47	$	43	$	46
(3) Analysis of loans sold:
Nonaccrual business loans	$	9	$	4	$	19	$	—	$	14
Performing watch list loans		30		15		34		7		4
Total loans sold	$	39	$	19	$	53	$	7	$	18
(4) Net change related to nonaccrual loans with balances less than $2 million, other than business loan gross charge-offs and nonaccrual loans sold, are included in Payments/Other.

-14-

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

	Three Months Ended
	March 31, 2006									December 31, 2005									March 31, 2005
	Average						Average			Average						Average			Average					Average
(dollar amounts in millions)	Balance			Interest			Rate			Balance			Interest			Rate			Balance			Interest		Rate
Commercial loans (1) (2)	$	26,620		$	412			6.27	%	$	25,666		$	388			5.99	%	$	23,248		$	286		5.00	%
Real estate construction loans		3,530			72			8.24			3,416			68			7.94			3,052			49		6.48
Commercial mortgage loans (1)		8,998			155			6.97			8,799			149			6.70			8,315			118		5.77
Residential mortgage loans		1,492			22			5.88			1,465			22			5.87			1,310			18		5.58
Consumer loans		2,660			45			6.83			2,675			43			6.45			2,734			36		5.32
Lease financing		1,298			13			4.03			1,288			13			4.08			1,261			13		4.13
International loans		1,881			30			6.56			1,940			32			6.52			2,235			30		5.43
Business loan swap income (expense)		—			(25	)		—			—			(16	)		—			—			17		—
Total loans (2)		46,479			724			6.31			45,249			699			6.13			42,155			567		5.45
Investment securities available-for-sale		4,154			44			4.10			4,037			41			3.97			3,790			35		3.60
Short-term investments		344			5			6.17			478			6			5.42			700			6		3.47
Total earning assets		50,977			773			6.12			49,764			746			5.94			46,645			608		5.27
Cash and due from banks		1,648									1,757									1,639
Allowance for loan losses		(512	)								(562	)								(685	)
Accrued income and other assets		3,164									3,171									3,151
Total assets	$	55,277								$	54,130								$	50,750
Money market and NOW deposits (1)	$	16,595			105			2.57		$	17,152			102			2.36		$	17,810			69		1.56
Savings deposits (1)		1,476			2			0.65			1,502			1			0.61			1,582			2		0.41
Certificates of deposit (1)		5,887			51			3.52			5,582			45			3.18			5,193			29		2.27
Institutional certificates of deposit		2,624			30			4.62			1,141			12			4.16			365			2		2.54
Foreign office time deposits		1,007			11			4.26			943			11			4.46			712			6		3.72
Total interest-bearing deposits		27,589			199			2.93			26,320			171			2.59			25,662			108		1.71
Short-term borrowings		3,753			42			4.52			2,350			24			4.06			441			3		2.71
Medium- and long-term debt		4,029			52			5.22			4,013			49			4.77			4,277			36		3.37
Total interest-bearing sources		35,371			293			3.36			32,683			244			2.96			30,380			147		1.96
Noninterest-bearing deposits (1)		13,609									15,158									14,120
Accrued expenses and other liabilities		1,225									1,188									1,178
Common shareholders’ equity		5,072									5,101									5,072
Total liabilities and shareholders’ equity	$	55,277								$	54,130								$	50,750
Net interest income/rate spread (FTE)				$	480			2.76					$	502			2.98					$	461		3.31
FTE adjustment				$	1								$	1								$	1
Impact of net noninterest-bearing sources of funds								1.04									1.02								0.69
Net interest margin (as a percentage of average earning assets) (FTE)(2)								3.80	%								4.00	%							4.00	%
(1) FSD balances included above:
Loans (primarily low-rate)	$	2,909		$	3			0.43	%	$	2,769		$	3			0.38	%	$	1,309		$	2		0.54	%
Interest-bearing deposits		2,286			21			3.74			2,613			22			3.38			2,642			16		2.45
Noninterest-bearing deposits		4,683									5,866									5,145
(2) Impact of FSD loans (primarily low-rate) on the following:
Commercial loans								(0.72	)%								(0.68	)%							(0.26	)%
Total loans								(0.40	)								(0.37	)							(0.17	)
Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits)								(0.22	)								(0.22	)							(0.11	)

-15-

CONSOLIDATED STATISTICAL DATA
Comerica Incorporated and Subsidiaries

	March 31,			December 31,			September 30,			June 30,			March 31,
(in millions, except per share data)	2006			2005			2005			2005			2005
Commercial loans:
Floor plan	$	3,078		$	2,847		$	2,065		$	2,766		$	2,668
Other		21,660			20,698			20,689			20,924			20,112
Total commercial loans		24,738			23,545			22,754			23,690			22,780
Real estate construction loans:
Real estate construction business line		2,996			2,831			2,674			2,587			2,451
Other		683			651			615			581			584
Total real estate construction loans		3,679			3,482			3,289			3,168			3,035
Commercial mortgage loans:
Commercial real estate business line		1,483			1,450			1,440			1,465			1,555
Other		7,663			7,417			7,260			7,071			6,860
Total commercial mortgage loans		9,146			8,867			8,700			8,536			8,415
Residential mortgage loans		1,516			1,485			1,444			1,394			1,335
Consumer loans:
Home equity		1,748			1,775			1,818			1,867			1,797
Other consumer		859			922			878			834			903
Total consumer loans		2,607			2,697			2,696			2,701			2,700
Lease financing		1,292			1,295			1,286			1,296			1,262
International loans		1,761			1,876			1,972			2,239			2,209
Total loans	$	44,739		$	43,247		$	42,141		$	43,024		$	41,736
Goodwill	$	213		$	213		$	247		$	247		$	247
Other intangible assets		1			1			1			1			1
Loan servicing rights		17			19			19			19			19
Deferred mutual fund distribution costs		6			6			7			7			7
Tier 1 common capital ratio*		7.70	%		7.86	%		7.98	%		7.88	%		8.04	%
Tier 1 risk-based capital ratio*		8.28			8.46			8.60			8.49			8.66
Total risk-based capital ratio *		11.74			11.75			12.07			12.08			12.49
Leverage ratio*		9.90			9.99			10.07			10.36			10.50
Book value per share	$	31.39		$	31.11		$	30.81		$	30.60		$	29.81
Market value per share for the quarter:
High	$	58.62		$	60.25		$	63.38		$	59.29		$	61.40
Low		54.23			53.60			56.80			53.17			53.70
Close		57.97			56.76			58.90			57.80			55.08
Quarterly ratios:
Return on average common shareholders’ equity		15.33	%		16.28	%		18.59	%		16.99	%		15.73	%
Return on average assets		1.41			1.53			1.78			1.68			1.57
Efficiency ratio		64.35			62.21			56.63			54.49			55.70
Number of banking offices		372			381			370			364			376
Number of employees — full time equivalent		10,687			10,816			10,779			10,826			10,803

* March 31, 2006 ratios are estimated

-16-

PARENT COMPANY ONLY BALANCE SHEETS
Comerica Incorporated

	March 31,			December 31,			March 31,
(in millions, except share data)	2006			2005			2005
ASSETS
Cash and due from subsidiary bank	$	13		$	11		$	5
Short-term investments with subsidiary bank		298			264			286
Investment in subsidiaries, principally banks		5,591			5,587			5,533
Premises and equipment		3			3			3
Other assets		262			257			290
Total assets	$	6,167		$	6,122		$	6,117
LIABILITIES AND SHAREHOLDERS’ EQUITY
Long-term debt	$	803		$	813		$	814
Other liabilities		270			241			273
Total liabilities		1,073			1,054			1,087
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 3/31/06, 12/31/05 and 3/31/05		894			894			894
Capital surplus		466			461			433
Accumulated other comprehensive loss		(198	)		(170	)		(154	)
Retained earnings		4,880			4,796			4,427
Less cost of common stock in treasury — 16,461,565 shares at 3/31/06, 15,834,985 shares at 12/31/05 and 9,988,453 shares at 3/31/05		(948	)		(913	)		(570	)
Total shareholders’ equity		5,094			5,068			5,030
Total liabilities and shareholders’ equity	$	6,167		$	6,122		$	6,117

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

									Accumulated
									Other									Total
	Common Stock					Capital			Comprehensive			Retained			Treasury			Shareholders’
(in millions, except per share data)	In Shares			Amount		Surplus			Loss			Earnings			Stock			Equity
BALANCE AT JANUARY 1, 2005		170.5		$	894	$	421		$	(69	)	$	4,331		$	(472	)	$	5,105
Net income		—			—		—			—			199			—			199
Other comprehensive loss, net of tax		—			—		—			(85	)		—			—			(85	)
Total comprehensive income																			114
Cash dividends declared on common stock ($0.55 per share)		—			—		—			—			(93	)		—			(93	)
Purchase of common stock		(2.1	)		—		—			—			—			(118	)		(118	)
Net issuance of common stock under employee stock plans		0.3			—		3			—			(10	)		20			13
Recognition of share-based compensation expense		—			—		9			—			—			—			9
BALANCE AT MARCH 31, 2005		168.7		$	894	$	433		$	(154	)	$	4,427		$	(570	)	$	5,030
BALANCE AT JANUARY 1, 2006		162.9		$	894	$	461		$	(170	)	$	4,796		$	(913	)	$	5,068
Net income		—			—		—			—			194			—			194
Other comprehensive loss, net of tax		—			—		—			(28	)		—			—			(28	)
Total comprehensive income																			166
Cash dividends declared on common stock ($0.59 per share)		—			—		—			—			(96	)		—			(96	)
Purchase of common stock		(1.5	)		—		—			—			—			(86	)		(86	)
Net issuance of common stock under employee stock plans		0.9			—		(18	)		—			(14	)		51			19
Recognition of share-based compensation expense		—			—		18			—			—			—			18
Other		—			—		5			—			—			—			5
BALANCE AT MARCH 31, 2006		162.3		$	894	$	466		$	(198	)	$	4,880		$	(948	)	$	5,094

-17-

BUSINESS SEGMENT FINANCIAL RESULTS
Comerica Incorporated and Subsidiaries

(dollar amounts in millions)	Business Bank									Retail Bank									Wealth & Institutional Management
	March 31,			December 31,			March 31,			March 31,			December 31,			March 31,			March 31,			December 31,			March 31,
Three Months Ended	2006			2005			2005			2006			2005			2005			2006			2005			2005
Earnings summary:
Net interest income (expense) (FTE)	$	314		$	337		$	337		$	155		$	157		$	146		$	38		$	39		$	36
Provision for loan losses		(13	)		(31	)		9			6			8			—			—			2			(2	)
Noninterest income		63			71			70			50			51			49			84			137			80
Noninterest expenses		187			226			141			145			154			126			98			114			80
Provision (benefit) for income taxes (FTE)		59			78			85			18			16			24			8			22			13
Cumulative effect of change in accounting principle, net of tax		—			—			—			—			—			—			(8	)		—			—
Net income (loss)	$	144		$	135		$	172		$	36		$	30		$	45		$	8		$	38		$	25
Net loans charged-off	$	11		$	15		$	29		$	5		$	8		$	4		$	—		$	1		$	5
Selected average balances:
Assets	$	38,148		$	37,165		$	34,047		$	6,726		$	6,599		$	6,414		$	3,875		$	3,814		$	3,625
Loans		36,883			35,849			32,970			6,016			5,891			5,778			3,533			3,473			3,368
Deposits		18,899			20,578			19,877			16,705			16,778			16,796			2,480			2,557			2,451
Liabilities		19,749			21,361			20,623			16,706			16,776			16,784			2,505			2,576			2,457
Attributed equity		2,557			2,585			2,476			818			826			779			463			474			417
Statistical data:
Return on average assets (1)		1.51	%		1.46	%		2.03	%		0.82	%		0.67	%		1.02	%		0.84	%		4.02	%		2.79	%
Return on average attributed equity		22.54			21.00			27.92			17.50			14.32			23.03			7.00			32.36			24.27
Net interest margin (2)		3.45			3.72			4.13			3.75			3.71			3.53			4.36			4.44			4.34
Efficiency ratio		49.64			55.23			34.61			70.97			74.05			64.67			80.20			64.92			68.51
	Finance									Other									Total
	March 31,			December 31,			March 31,			March 31,			December 31,			March 31,			March 31,			December 31,			March 31,
Three Months Ended	2006			2005			2005			2006			2005			2005			2006			2005			2005
Earnings summary:
Net interest income (expense) (FTE)	$	(27	)	$	(32	)	$	(59	)	$	—		$	1		$	1		$	480		$	502		$	461
Provision for loan losses		—			—			—			(20	)		1			(6	)		(27	)		(20	)		1
Noninterest income		17			22			10			1			—			1			215			281			210
Noninterest expenses		—			1			1			19			(8	)		26			449			487			374
Provision (benefit) for income taxes (FTE)		(7	)		(7	)		(20	)		(7	)		—			(5	)		71			109			97
Cumulative effect of change in accounting principle, net of tax		—			—			—			—			—			—			(8	)		—			—
Net income (loss)	$	(3	)	$	(4	)	$	(30	)	$	9		$	8		$	(13	)	$	194		$	207		$	199
	$
Net loans charged-off	$	—		$	—		$	—		$	1		$	(2	)	$	—		$	17		$	22			38
Selected average balances:
Assets	$	5,431		$	5,483		$	5,518		$	1,097		$	1,069		$	1,146		$	55,277		$	54,130		$	50,750
Loans		3			(9	)		(7	)		44			45			46			46,479			45,249			42,155
Deposits		3,214			1,615			612			(100	)		(50	)		46			41,198			41,478			39,782
Liabilities		10,969			7,983			5,390			276			333			424			50,205			49,029			45,678
Attributed equity		470			469			538			764			747			862			5,072			5,101			5,072
Statistical data:
Return on average assets (1)		N/M			N/M			N/M			N/M			N/M			N/M			1.41	%		1.53	%		1.57	%
Return on average attributed equity		N/M			N/M			N/M			N/M			N/M			N/M			15.33			16.28			15.73
Net interest margin (2)		N/M			N/M			N/M			N/M			N/M			N/M			3.80			4.00			4.00
Efficiency ratio		N/M			N/M			N/M			N/M			N/M			N/M			64.35			62.21			55.70

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

-18-

MARKET SEGMENT FINANCIAL RESULTS
Comerica Incorporated and Subsidiaries

(dollar amounts in millions)	Midwest & Other Markets									Western									Texas
	March 31,			December 31,			March 31,			March 31,			December 31,			March 31,			March 31,			December 31,			March 31,
Three Months Ended	2006			2005			2005			2006			2005			2005			2006			2005			2005
Earnings summary:
Net interest income (expense) (FTE)	$	266		$	272		$	264		$	169		$	188		$	186		$	61		$	63		$	59
Provision for loan losses		(1	)		(16	)		1			(5	)		(5	)		1			(2	)		(2	)		3
Noninterest income		147			203			148			28			33			29			18			19			18
Noninterest expenses		263			306			207			109			124			91			50			55			42
Provision (benefit) for income taxes (FTE)		41			67			63			32			38			46			10			10			11
Cumulative effect of change in accounting principle, net of tax		(8	)		—			—			—			—			—			—			—			—
Net income (loss)	$	102		$	118		$	141		$	61		$	64		$	77		$	21		$	19		$	21
Net loans charged-off	$	11		$	21		$	16		$	2		$	1		$	10		$	1		$	(1	)	$	8
Selected average balances:
Assets	$	25,116		$	24,984		$	24,549		$	16,358		$	15,643		$	13,148		$	5,652		$	5,451		$	4,993
Loans		23,721			23,518			23,288			15,718			14,960			12,638			5,390			5,251			4,807
Deposits		18,666			18,833			18,867			15,437			17,048			16,295			3,674			3,718			3,673
Liabilities		19,497			19,593			19,606			15,479			17,090			16,303			3,678			3,718			3,668
Attributed equity		2,173			2,220			2,134			1,084			1,087			1,024			500			502			448
Statistical data:
Return on average assets (1)		1.63	%		1.90	%		2.31	%		1.47	%		1.41	%		1.79	%		1.48	%		1.38	%		1.66	%
Return on average attributed equity		18.81			21.39			26.52			22.43			23.58			30.30			16.77			14.92			18.46
Net interest margin (2)		4.53			4.55			4.57			4.33			4.37			4.63			4.55			4.73			4.93
Efficiency ratio		63.66			64.42			49.96			55.48			55.94			42.05			63.65			67.03			55.90
	Florida									Finance & Other Businesses									Total
	March 31,			December 31,			March 31,			March 31,			December 31,			March 31,			March 31,			December 31,			March 31,
Three Months Ended	2006			2005			2005			2006			2005			2005			2006			2005			2005
Earnings summary:
Net interest income (expense) (FTE)	$	11		$	10		$	10		$	(27	)	$	(31	)	$	(58	)	$	480		$	502		$	461
Provision for loan losses		1			2			2			(20	)		1			(6	)		(27	)		(20	)		1
Noninterest income		4			4			4			18			22			11			215			281			210
Noninterest expenses		8			9			7			19			(7	)		27			449			487			374
Provision (benefit) for income taxes (FTE)		2			1			2			(14	)		(7	)		(25	)		71			109			97
Cumulative effect of change in accounting principle, net of tax		—			—			—			—			—			—			(8	)		—			—
Net income (loss)	$	4		$	2		$	3		$	6		$	4		$	(43	)	$	194		$	207		$	199
Net loans charged-off	$	2		$	3		$	4		$	1		$	(2	)	$	—		$	17		$	22		$	38
Selected average balances:
Assets	$	1,623		$	1,500		$	1,396		$	6,528		$	6,552		$	6,664		$	55,277		$	54,130		$	50,750
Loans		1,603			1,484			1,383			47			36			39			46,479			45,249			42,155
Deposits		307			314			289			3,114			1,565			658			41,198			41,478			39,782
Liabilities		306			312			287			11,245			8,316			5,814			50,205			49,029			45,678
Attributed equity		81			76			66			1,234			1,216			1,400			5,072			5,101			5,072
Statistical data:
Return on average assets (1)		1.01	%		0.56	%		0.93	%		N/M			N/M			N/M	%		1.41	%		1.53	%		1.57	%
Return on average attributed equity		20.13			11.07			19.68			N/M			N/M			N/M			15.33			16.28			15.73
Net interest margin (2)		2.80			2.70			2.99			N/M			N/M			N/M			3.80			4.00			4.00
Efficiency ratio		53.21			64.82			51.37			N/M			N/M			N/M			64.35			62.21			55.70

(1)	Return on average assets is calculated based on the greater of average assets or average liabilities and attributed equity.
(2)	Net interest margin is calculated based on the greater of average earning assets or average deposits and purchased funds.

FTE	- Fully Taxable Equivalent
N/M	- Not Meaningful

-19-