Comerica (CMA) 8-K Comerica Reports First Quarter 2007 Earnings

Exhibit 99.1

COMERICA REPORTS FIRST QUARTER 2007 EARNINGS

Positive Financial Performance

Net Interest Margin Rises, Credit Quality Remains Solid

Expenses are Well Controlled

DETROIT/April 17, 2007— Comerica Incorporated (NYSE: CMA) today reported first quarter 2007 income from continuing operations of $189 million, or $1.19 per diluted share, compared to $185 million, or $1.16 per diluted share, for the fourth quarter 2006 and $207 million, or $1.26 per diluted share, for the first quarter 2006. Fourth quarter 2006 income from continuing operations included income of $47 million ($31 million after-tax, or $0.19 per diluted share) from the settlement of a Financial Services Division (FSD)-related lawsuit and the net after-tax impact of a charge to tax and related interest reserves of $31 million, or $(0.19) per diluted share, discussed under “Tax-related items” below. First quarter 2006 income from continuing operations included a negative provision for loan losses of $27 million.

In the fourth quarter 2006, Comerica sold its stake in Munder Capital Management (Munder) for an after-tax gain of $108 million ($0.68 per diluted shares). Comerica reports Munder as a discontinued operation in all periods presented.

(dollar amounts in millions, except per share data)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income	$	502		$	502		$	479
Provision for loan losses		23			22			(27	)
Noninterest income		203			262			195
Noninterest expenses		407			457			429
Income from continuing operations, net of tax		189			185			207
Net income		190			299			194
Diluted EPS from continuing operations		1.19			1.16			1.26
Diluted EPS from discontinued operations		—			0.71			(0.08	)
Diluted EPS		1.19			1.87			1.18
Return on average common shareholders’ equity from continuing operations		14.83	%		14.03	%		16.31	%
Return on average common shareholders’ equity		14.86			22.63			15.33
Net interest margin		3.82			3.75			3.80

The following table illustrates certain items impacting diluted earnings per share from continuing operations:

(dollar amounts per diluted share)	1st Qtr '07			4th Qtr '06			1st Qtr '06
FSD-related lawsuit settlement	$	—		$	0.19		$	—
Loss on sale of Mexican bank charter		—			—			(0.02	)
Net income (loss) from principal investing and warrants		(0.02	)		0.01			0.01
Tax adjustments		—			(0.14	)		0.09
Tax-related interest adjustments		—			(0.05	)		(0.09	)
Performance-based compensation related to Munder gain		—			(0.04	)		—
Charitable Foundation contribution		—			(0.04	)		—

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 2

“The financial results highlight our positive financial performance in the first quarter,” said Ralph W. Babb Jr., chairman and chief executive officer. “Our net interest margin rose seven basis points from the fourth quarter of 2006. Credit quality was solid across all markets and expenses were well controlled.”

First Quarter 2007 Compared to Fourth Quarter 2006

• On an annualized basis, excluding Financial Services Division loans, average loans increased six percent, led by growth of 15 percent in the Western market, five percent in the Texas market, four percent in the Florida market, three percent in Other markets and 18 percent in the International market, with the Midwest market down one percent. The Texas loan growth, impacted by pay downs in January, rebounded in February and March with low double-digit annualized average loan growth rates.

• The net interest margin was 3.82 percent in the first quarter 2007, an increase of seven basis points from 3.75 percent in the fourth quarter 2006.

• Net credit-related charge-offs were $19 million, or 16 basis points as a percent of average total loans, for the first quarter 2007, compared to $23 million, or 19 basis points as a percent of average total loans, for the fourth quarter 2006. Fourth quarter 2006 included a $9 million charge-off to reflect the estimated fair value of a portfolio of loans related to manufactured housing that were transferred to held-for-sale.

• Noninterest expenses, excluding the provision for credit losses on lending-related commitments, decreased $52 million from the fourth quarter 2006, the detail of which is discussed in “Noninterest expenses” below. Employee levels from continuing operations (FTE) decreased slightly from December 31, 2006, to March 31, 2007. This decrease occurred even as nine new banking centers were opened in the first quarter 2007.

• The provision for income taxes decreased primarily due to a fourth quarter 2006 adjustment to tax reserves of $22 million. Refer to “Tax-related items” below for further discussion.

• Open market share repurchases in the first quarter 2007 totaled 3.4 million shares, or two percent of total shares outstanding at December 31, 2006.

Net Interest Income Stable and Net Interest Margin Rises

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income	$	502		$	502		$	479
Net interest margin		3.82	%		3.75	%		3.80	%
Selected average balances:
Total earning assets	$	53,148		$	53,289		$	50,977
Total loans		48,896			48,568			46,479
Total loans, excluding FSD loans (primarily low-rate)		47,327			46,659			43,570
Total interest-bearing deposits		30,417			30,554			27,589
Total noninterest-bearing deposits		12,162			12,649			13,609
Total noninterest-bearing deposits, excluding FSD		8,712			8,696			8,926

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 3

• A seven basis point improvement in the net interest margin offset the impact of two less days in the first quarter 2007 ($11 million). Average earning assets remained relatively stable in the first quarter 2007, when compared to fourth quarter 2006.

• The first quarter 2007 net interest margin reflected stable loan yields and a decline in deposit rates. The positive impact of lower average Financial Services Division loans (primarily low-rate) was essentially offset by a decline in Financial Services Division noninterest-bearing deposits.

Steady Noninterest Income, Excluding Identified Items

Noninterest income was $203 million for the first quarter 2007, compared to $262 million for the fourth quarter 2006 and $195 million for the first quarter 2006. The $59 million decrease in noninterest income in the first quarter 2007, compared to the fourth quarter 2006, was primarily the result of income of $47 million from the settlement of a Financial Services Division-related lawsuit received in the fourth quarter 2006, a $7 million decrease in income from principal investing and warrants and a $6 million decrease in investment banking fees, partially offset by positive trends in several categories (including fiduciary income, brokerage fees and card fees). Certain categories of noninterest income are highlighted in the table below.

(in millions)	1st Qtr ’07			4th Qtr ’06		1st Qtr ’06
Net income (loss) from principal investing and warrants	$	(4	)	$	3	$	3
Net gain (loss) on sales of businesses		1			—		(5	)
Income from lawsuit settlement		—			47		—
Other noninterest income
Investment banking fees		4			10		5

Noninterest Expenses Well Controlled

Noninterest expenses were $407 million for the first quarter 2007, compared to $457 million for the fourth quarter 2006 and $429 million for the first quarter 2006. The $50 million decrease in noninterest expenses in the first quarter 2007, compared to the fourth quarter 2006, reflected decreased salaries expense of $25 million. The decrease in salaries expense was due primarily to decreased incentives tied to performance, including the fourth quarter 2006 gain on the sale of Munder, contract labor costs associated with technology-related projects, and severance, partially offset by an increase in share-based compensation expense. The increase in share-based compensation expense reflected the annual award of restricted stock to retirement-eligible employees, granted in the first quarter each year, which must be expensed in the period granted. Also reflected in the decrease in noninterest expenses was a decrease in interest on tax liabilities of $15 million (see “Tax-related items” below), and a fourth quarter 2006 contribution of $10 million to the Comerica Charitable Foundation.

Certain categories of noninterest expenses are highlighted in the table below.

(in millions)	1st Qtr ’07			4th Qtr ’06			1st Qtr ’06
Salaries
Regular salaries	$	154		$	162		$	149
Severance		—			5			1
Incentives		29			52			25
Share-based compensation		23			12			18
Total salaries		206			231			193
Employee benefits		46			42			50
Provision for credit losses on lending-related commitments		(2	)		(4	)		13
Other noninterest expenses
Interest on tax liabilities		n/a			15			26
Charitable Foundation contribution		—			10			—
Other real estate expense		—			(2	)		4
Redemption premium on trust preferred securities		—			3			—

n/a — not applicable

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 4

Tax-related Items

On January 1, 2007, Comerica adopted the provisions of FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes — an interpretation of FASB Statement No. 109,” (FIN 48). FIN 48 permits Comerica to prospectively change its accounting policy as to where interest on tax liabilities is classified on the consolidated statements of income. Effective January 1, 2007, Comerica changed its accounting policy and began to classify interest on tax liabilities in the “provision for income taxes” on the consolidated statements of income. Prior to January 1, 2007, interest on tax liabilities was classified in “other noninterest expenses.” In the first quarter 2007, the Securities and Exchange Commission requested that the American Institute of Certified Public Accountants clarify that an election to change classification under the Interpretation could only be prospective. Therefore, for all prior periods presented, interest on tax liabilities remained classified in “other noninterest expenses” on the consolidated statements of income. The provision for income taxes included interest on tax liabilities of $1 million for the first quarter 2007. Noninterest expenses in 2006 included $38 million of interest on tax liabilities, including $15 million in the fourth quarter 2006 and $26 million in the first quarter 2006.

Fourth quarter 2006 reflected a charge to Comerica’s combined tax and related interest reserves for disallowed loan benefits related to a series of loans to foreign borrowers of $31 million after-tax based on settlements discussed with the Internal Revenue Service. Of the total, $22 million was included in the provision for income taxes and $14 million ($9 million after-tax) was for tax-related interest included in other noninterest expenses.

Income from Discontinued Operations

In December 2006, Comerica completed the sale of its stake in Munder to an investor group and recognized an initial after-tax gain from the sale of $108 million, reflected in “income from discontinued operations, net of tax” on the consolidated statements of income. Comerica reports Munder as a discontinued operation in all periods presented; therefore, the after-tax earnings of Munder, including the gain from its sale, are reported as a single item at the bottom of the income statement. The following table summarizes significant items affecting income from discontinued operations, net of tax:

(in millions)	1st Qtr '07		4th Qtr '06		1st Qtr '06
Income from discontinued operations, net of tax:
Gain on sale of Munder	$	1	$	108	$	—
Cumulative effect of change in accounting principle		—		—		(8	)
Operating net income and other		—		6		(5	)
Total		1		114		(13	)

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 5

Credit Quality Remained Solid

“Net charge-offs were lower and nonperforming assets were unchanged,” said Babb. “We continued to manage our credit risk effectively, particularly the automotive and commercial real estate portfolios. Our people, and the enhanced risk management tools they use, have helped us to maintain solid credit quality in all markets.”

• The provision for loan losses reflected challenges to industries located in Michigan (Midwest market), including the automotive industry.

• Fourth quarter 2006 net loan charge-offs included a $9 million charge-off to reflect the estimated fair value of a portfolio of loans related to manufactured housing that were transferred to held-for-sale.

• Nonperforming assets remained at the low level of 49 basis points of total loans and foreclosed property, compared to the fourth quarter 2006. During the first quarter 2007, $69 million of loan relationships greater than $2 million were transferred to nonaccrual status, an increase of $3 million from the fourth quarter 2006.

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net loan charge-offs	$	16		$	22		$	17
Net lending-related commitment charge-offs		3			1			5
Total net credit-related charge-offs		19			23			22
Net loan charge-offs/Average total loans		0.13	%		0.18	%		0.14	%
Net credit-related charge-offs/Average total loans		0.16			0.19			0.19
Provision for loan losses	$	23		$	22		$	(27	)
Provision for credit losses on lending-related commitments		(2	)		(4	)		13
Total provision for credit losses		21			18			(14	)
Nonperforming assets (NPAs)		233			232			141
NPAs/Total loans and foreclosed property		0.49	%		0.49	%		0.32	%
Allowance for loan losses	$	500		$	493		$	472
Allowance for credit losses on lending-related commitments*		21			26			41
Total allowance for credit losses		521			519			513
Allowance for loan losses/Total loans		1.04	%		1.04	%		1.06	%
Allowance for loan losses/NPAs		214			213			334

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

Balance Sheet and Capital Management

Total assets and common shareholders’ equity were $57.5 billion and $5.1 billion, respectively, at March 31, 2007, compared to $58.0 billion and $5.2 billion, respectively, at December 31, 2006. There were approximately 156 million shares outstanding at March 31, 2007, compared to 158 million shares outstanding at December 31, 2006. Open market share repurchases for the current and prior quarter are shown in the following table:

	1st Qtr '07				4th Qtr '06
	Number				Number
(in millions)	of Shares		Amount		of Shares		Amount
Open market share repurchases		3.4	$	207		1.5	$	86

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 6

In the first quarter 2007, Comerica generated approximately $145 million of capital from the issuance of trust preferred securities, net of redemptions, and used $100 million of the proceeds to repurchase approximately 1.7 million additional shares.

Comerica’s first quarter 2007 estimated tier 1 common, tier 1 and total risk-based capital ratios were 7.47 percent, 8.17 percent and 12.21 percent, respectively.

New Accounting Pronouncements

Comerica adopted FSP 13-2 (Accounting for a Projected Change in the Timing of Cash Flows Related to Income Taxes Generated by a Leveraged Lease Transaction) and FIN 48 (Accounting for Uncertainty in Income Taxes) as of January 1, 2007. The effect of adoption was a reduction to retained earnings of $46 million and a lowering of 2007 income earned on lease financing loans for FSP 13-2 and an increase to retained earnings of $3 million for FIN 48. The effects of FSP 13-2 will reverse over periods ranging from four to 20 years.

Full Year 2007 Outlook

Comerica’s outlook for full-year 2007, compared to full-year 2006, is as follows:

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

• Average earning asset growth slightly less than average loan growth

• Average Financial Services Division noninterest-bearing deposits remaining at first quarter 2007 level of $3.5 billion. Financial Services Division loans will fluctuate in 2007 with the level of noninterest-bearing deposits

• Average full year net interest margin of about 3.75 percent to 3.80 percent

• Average net credit-related charge-offs of about 20 basis points of average loans, with a provision for credit losses modestly exceeding net charge-offs

• Low single-digit growth in noninterest income, from a 2006 adjusted base of $820 million which excludes the Financial Services Division-related lawsuit settlement and the loss on sale of the Mexican bank charter

• Flat noninterest expenses, excluding the provision for credit losses on lending-related commitments. Outlook reflects anticipated 2007 costs associated with the previously announced headquarters move to Dallas, Texas (expected to be about $10 million) and tax-related interest in 2006 (classified in the provision for income taxes in 2007)

• Effective tax rate of about 32 percent

• Active capital management within targeted capital ratios (tier 1 common of 6.50 percent to 7.50 percent and tier 1 of 7.25 percent to 8.25 percent)

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 7

Business Segments

Comerica’s continuing operations are strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. The Finance Division also is included as a segment. The financial results below are based on the internal business unit structure of the Corporation and methodologies in effect at March 31, 2007 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2007 results compared to fourth quarter 2006.

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

(dollar amounts in millions)	1st Qtr '07					4th Qtr '06					1st Qtr '06
Business Bank	$	141		72	%	$	154		80	%	$	151		73	%
Retail Bank		33		17			27		14			38		19
Wealth & Institutional Management		21		11			11		6			17		8
		195		100	%		192		100	%		206		100	%
Finance		1					(4	)				(2	)
Other*		(6	)				111					(10	)
Total	$	190				$	299				$	194

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

Business Bank

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income (FTE)	$	329		$	335		$	315
Provision for loan losses		14			15			(29	)
Noninterest income		61			116			63
Noninterest expenses		170			194			193
Net income		141			154			151
Net credit-related charge-offs		15			6			16
Selected average balances:
Assets		40,059			39,872			38,100
Loans		39,015			38,766			36,883
FSD loans		1,569			1,909			2,909
Deposits		16,710			17,110			18,899
FSD deposits		4,698			5,291			6,969
Net interest margin		3.42	%		3.43	%		3.45	%

• The net interest margin was relatively unchanged, as both loan spreads and deposits spreads were relatively stable.

• Excluding the $340 million decline in the Financial Services Division, average loans increased $589 million, or six percent on an annualized basis, primarily due to growth in the National Dealer Services, Middle Market and Global Corporate Banking business lines.

• Average deposits increased $193 million, excluding the $593 million decline in the Financial Services Division, primarily in the Technology and Life Sciences and Global Corporate Banking business lines.

• Noninterest income decreased $55 million, primarily due to income of $47 million from a Financial Services Division-related lawsuit settlement in the fourth quarter 2006, lower investment banking fees and a negative warrant fair value adjustment in the first quarter 2007.

• Noninterest expenses decreased $24 million, primarily due to decreases in net corporate overhead expenses, incentive compensation and legal fees. Net corporate overhead expenses decreased due to the impact on overhead of higher fourth quarter 2006 tax-related interest expense (see “Tax-related Items” above) and a fourth quarter 2006 contribution to the Comerica Charitable Foundation.

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 8

Retail Bank

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income (FTE)	$	157		$	159		$	155
Provision for loan losses		5			6			6
Noninterest income		52			53			50
Noninterest expenses		153			164			143
Net income		33			27			38
Net credit-related charge-offs		4			16			5
Selected average balances:
Assets		6,840			6,810			6,782
Loans		6,095			6,100			6,076
Deposits		17,033			16,969			16,736
Net interest margin		3.74	%		3.71	%		3.76	%

• The net interest margin of 3.74 percent increased three basis points, primarily due to an increase in deposit spreads, partially offset by a decline in loan spreads.

• Average loans remained relatively flat, as increases in small business commercial loans were offset by a decline in consumer loans resulting from the first quarter 2007 sale of $74 million of manufactured housing loans.

• Average deposits increased $64 million, primarily due to growth in customer certificates of deposit.

• Fourth quarter 2006 net credit-related charge-offs included $9 million related to the transfer of the previously mentioned manufactured housing loans to held-for-sale.

• Noninterest expenses decreased $11 million, primarily due to a decrease in net corporate overhead expenses (as described in the Business Bank).

• Opened nine new banking centers in the first quarter 2007.

Wealth and Institutional Management

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income (FTE)	$	36		$	36		$	37
Provision for loan losses		(1	)		2			—
Noninterest income		71			67			64
Noninterest expenses		76			86			75
Net income		21			11			17
Net credit-related charge-offs		—			1			—
Selected average balances:
Assets		3,898			3,794			3,623
Loans		3,747			3,646			3,473
Deposits		2,317			2,351			2,449
Net interest margin		3.88	%		3.90	%		4.28	%

• Average loans increased $101 million, or 11 percent on an annualized basis.

• Average deposits decreased $34 million, primarily due to decreased noninterest-bearing accounts.

• Noninterest income increased $4 million, primarily due to increased trust fees in the first quarter 2007.

• Noninterest expenses decreased $10 million, primarily due to a decrease in net corporate overhead expenses (as described in the Business Bank), severance and incentive compensation.

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 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 March 31, 2007 and are presented on a fully taxable equivalent (FTE) basis. The accompanying narrative addresses first quarter 2007 results compared to fourth quarter 2006.

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

(dollar amounts in millions)	1st Qtr '07					4th Qtr '06				1st Qtr '06
Midwest	$	90		45	%	$	78	41	%	$	99		48	%
Western		66		34			83	43			66		32
Texas		22		11			17	9			23		11
Florida		3		2			3	1			4		2
Other Markets		5		3			4	2			4		2
International		9		5			7	4			10		5
		195		100	%		192	100	%		206		100	%
Finance & Other*		(5	)				107				(12	)
Total	$	190				$	299			$	194

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

Midwest

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income (FTE)	$	244		$	248		$	243
Provision for loan losses		30			37			—
Noninterest income		116			123			117
Noninterest expenses		206			232			223
Net income		90			78			99
Net credit-related charge-offs		22			23			17
Selected average balances:
Assets		22,755			22,843			22,332
Loans		21,783			21,836			21,303
Deposits		16,657			16,713			17,039
Net interest margin		4.52	%		4.49	%		4.51	%

• The net interest margin of 4.52 percent increased three basis points, primarily due to an increase in deposit spreads, partially offset by a decrease in loan spreads.

• Average loans decreased $53 million, primarily due to the first quarter 2007 sale of $74 million of manufactured housing loans.

• Average deposits decreased $56 million, primarily due to a decline in money market accounts.

• The provision for loan losses decreased $7 million. Fourth quarter 2006 included a $9 million charge-off related to the sale of manufactured housing loans, discussed above.

• Noninterest income decreased $7 million, primarily due to a decrease in investment banking fees.

• Noninterest expenses decreased $26 million, primarily due to decreases in net corporate overhead expenses (as described in the Business Bank) and incentive compensation.

• Two new banking centers were opened in Michigan.

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 10

Western Market

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income (FTE)	$	176		$	178		$	168
Provision for loan losses		(11	)		(15	)		(14	)
Noninterest income		28			74			28
Noninterest expenses		110			122			109
Net income		66			83			66
Net credit-related charge-offs		(5	)		(2	)		—
Selected average balances:
Assets		16,782			16,572			16,261
Loans		16,241			16,037			15,644
FSD loans		1,569			1,909			2,909
Deposits		13,696			14,145			15,405
FSD deposits		4,515			5,130			6,855
Net interest margin		4.40	%		4.40	%		4.25	%

• Excluding the Financial Services Division, average loans increased $544 million, or 15 percent on an annualized basis, primarily due to growth in the Middle Market Banking, National Dealer Services, Technology and Life Sciences, Commercial Real Estate, Entertainment Lending and Global Corporate Banking business lines.

• Excluding the Financial Services Division, average deposits increased $166 million, primarily due to interest-bearing checking, money market accounts and growth in customer certificates of deposit.

• Noninterest income decreased $46 million, primarily due to income from a $47 million Financial Services Division-related lawsuit settlement in the fourth quarter 2006 and a negative warrant fair value adjustment in the first quarter 2007.

• Noninterest expenses decreased $12 million, primarily due to lower net corporate overhead expenses (as described in the Business Bank) and legal fees.

• Three new banking centers were opened in California.

Texas Market

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income (FTE)	$	67		$	69		$	61
Provision for loan losses		(1	)		3			(4	)
Noninterest income		19			20			18
Noninterest expenses		54			59			50
Net income		22			17			23
Total net credit-related charge-offs		3			2			1
Selected average balances:
Assets		6,719			6,631			5,611
Loans		6,444			6,360			5,355
Deposits		3,843			3,794			3,662
Net interest margin		4.19	%		4.27	%		4.46	%

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 11

• The net interest margin of 4.19 percent declined eight basis points, primarily due to a decline in loan spreads.

• Average loans increased $84 million, or five percent on an annualized basis, primarily due to growth in Commercial Real Estate, Global Corporate Banking, National Dealer Services and Small Business. The Texas loan growth, impacted by pay downs in January, rebounded in February and March with low double-digit annualized average loan growth rates.

• Average deposits increased $49 million, primarily due to growth in interest-bearing checking and customer certificates of deposit.

• The provision for loan losses decreased $4 million, primarily due to improved credit quality.

• Noninterest expenses decreased $5 million, primarily due to a decrease in net corporate overhead expenses (as described in the Business Bank).

• Four new banking centers were opened.

Florida Market

(dollar amounts in millions)	1st Qtr '07			4th Qtr '06			1st Qtr '06
Net interest income (FTE)	$	11		$	11		$	10
Provision for loan losses		1			1			—
Noninterest income		4			4			4
Noninterest expenses		9			10			8
Net income		3			3			4
Net credit-related charge-offs		—			—			2
Selected average balances:
Assets		1,646			1,631			1,390
Loans		1,626			1,611			1,371
Deposits		284			292			307
Net interest margin		2.84	%		2.80	%		2.91	%

• Average loans increased $15 million, or four percent on an annualized basis.

• Average deposits decreased $8 million.

Conference Call and Webcast

Comerica will host a conference call to review first quarter 2007 financial results at 8 a.m. ET Tuesday, April 17, 2007. Interested parties may access the conference call by calling (706) 679-5261 (event ID No. 3046574). The call and supplemental financial information can also be accessed on the Internet at www.comerica.com. A replay will be available approximately two hours following the conference call until May 1, 2007. The conference call replay can be accessed by calling (800) 642-1687 or (706) 645-9291 (event ID No. 3046574). 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 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, Canada and Mexico

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COMERICA REPORTS FIRST QUARTER 2007 EARNINGS — 12

Forward-looking Statements

Any statements in this news release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “feels,” “expects,” “estimates,” “seeks,” “strives,” “plans,” “intends,” “outlook,” “forecast,” “position,” “target,” “mission,” “assume,” “achievable,” “potential,” “strategy,” “goal,” “aspiration,” “outcome,” “continue,” “remain,” “maintain,” “trend,” “objective” and variations of such words and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions, as they relate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated on the beliefs and assumptions of Comerica’s management based on information known to Comerica’s management as of the date of this news release and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives of Comerica’s management for future or past operations, products or services, and forecasts of Comerica’s revenue, earnings or other measures of economic performance, including statements of profitability, business segments and subsidiaries, estimates of credit trends and global stability. Such statements reflect the view of Comerica’s management as of this date with respect to future events and are subject to risks and uncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica’s actual results could differ materially from those discussed. Factors that could cause or contribute to such differences are changes in the pace of an economic recovery and related changes in employment levels, the effects of war and other armed conflicts or acts of terrorism, the effects of natural disasters including, but not limited to, hurricanes, tornadoes, earthquakes and floods, the disruption of private or public utilities, the implementation of Comerica’s strategies and business models, management’s ability to maintain and expand customer relationships, 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 Contact:	Investor Contacts:
Wayne J. Mielke	Darlene P. Persons
(313) 222-4732	(313) 222-2840
	Paul Jaremski
	(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)	2007			2006			2006
PER SHARE AND COMMON STOCK DATA
Diluted income from continuing operations	$	1.19		$	1.16		$	1.26
Diluted net income		1.19			1.87			1.18
Cash dividends declared		0.64			0.59			0.59
Common shareholders’ equity (at period end)		32.84			32.70			31.39
Average diluted shares (in thousands)		158,915			160,063			164,057
KEY RATIOS
Return on average common shareholders’ equity from continuing operations		14.83	%		14.03	%		16.31	%
Return on average common shareholders’ equity		14.86			22.63			15.33
Return on average assets from continuing operations		1.33			1.29			1.50
Return on average assets		1.33			2.07			1.41
Average common shareholders’ equity as a percentage of average assets		8.93			9.16			9.17
Tier 1 common capital ratio *		7.47			7.54			7.66
Tier 1 risk-based capital ratio *		8.17			8.02			8.24
Total risk-based capital ratio *		12.21			11.63			11.68
Leverage ratio *		9.98			9.76			9.84
AVERAGE BALANCES
Commercial loans	$	27,757		$	27,609		$	26,620
Real estate construction loans		4,249			4,204			3,530
Commercial mortgage loans		9,673			9,515			8,998
Residential mortgage loans		1,705			1,647			1,492
Consumer loans		2,405			2,468			2,660
Lease financing		1,273			1,335			1,298
International loans		1,834			1,790			1,881
Total loans		48,896			48,568			46,479
Earning assets		53,148			53,289			50,977
Total assets		57,088			57,612			55,277
Interest-bearing deposits		30,417			30,554			27,589
Total interest-bearing liabilities		38,498			38,334			35,371
Noninterest-bearing deposits		12,162			12,649			13,609
Common shareholders’ equity		5,101			5,280			5,072
NET INTEREST INCOME
Net interest income (fully taxable equivalent basis)	$	503		$	503		$	480
Fully taxable equivalent adjustment		1			1			1
Net interest margin		3.82	%		3.75	%		3.80	%
CREDIT QUALITY
Nonaccrual loans	$	218		$	214		$	122
Foreclosed property		15			18			19
Total nonperforming assets		233			232			141
Loans past due 90 days or more and still accruing		15			14			16
Gross loan charge-offs		34			31			25
Loan recoveries		18			9			8
Net loan charge-offs		16			22			17
Lending-related commitment charge-offs		3			1			5
Total net credit-related charge-offs		19			23			22
Allowance for loan losses		500			493			472
Allowance for credit losses on lending-related commitments		21			26			41
Total allowance for credit losses		521			519			513
Allowance for loan losses as a percentage of total loans		1.04	%		1.04	%		1.06	%
Net loan charge-offs as a percentage of average total loans		0.13			0.18			0.14
Net credit-related charge-offs as a percentage of average total loans		0.16			0.19			0.19
Nonperforming assets as a percentage of total loans and foreclosed property		0.49			0.49			0.32
Allowance for loan losses as a percentage of total nonperforming assets		214			213			334

* March 31, 2007 ratios are estimated

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CONSOLIDATED BALANCE SHEETS
Comerica Incorporated and Subsidiaries

	March 31,			December 31,			March 31,
(in millions, except share data)	2007			2006			2006
ASSETS
Cash and due from banks	$	1,334		$	1,434		$	1,685
Federal funds sold and securities purchased under agreements to resell		1,457			2,632			2,837
Other short-term investments		220			327			190
Investment securities available-for-sale		3,989			3,662			4,251
Commercial loans		26,681			26,265			24,738
Real estate construction loans		4,462			4,203			3,679
Commercial mortgage loans		9,592			9,659			9,146
Residential mortgage loans		1,741			1,677			1,516
Consumer loans		2,392			2,423			2,607
Lease financing		1,273			1,353			1,292
International loans		1,848			1,851			1,761
Total loans		47,989			47,431			44,739
Less allowance for loan losses		(500	)		(493	)		(472	)
Net loans		47,489			46,938			44,267
Premises and equipment		596			568			516
Customers’ liability on acceptances outstanding		55			56			60
Accrued income and other assets		2,387			2,384			2,635
Total assets	$	57,527		$	58,001		$	56,441
LIABILITIES AND SHAREHOLDERS’ EQUITY
Noninterest-bearing deposits	$	13,584		$	13,901		$	15,772
Money market and NOW deposits		14,815			15,250			15,653
Savings deposits		1,410			1,365			1,480
Customer certificates of deposit		7,447			7,223			6,122
Institutional certificates of deposit		5,679			5,783			4,129
Foreign office time deposits		735			1,405			940
Total interest-bearing deposits		30,086			31,026			28,324
Total deposits		43,670			44,927			44,096
Short-term borrowings		329			635			1,901
Acceptances outstanding		55			56			60
Accrued expenses and other liabilities		1,205			1,281			1,228
Medium- and long-term debt		7,148			5,949			4,062
Total liabilities		52,407			52,848			51,347
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 3/31/07, 12/31/06 and 3/31/06		894			894			894
Capital surplus		524			520			466
Accumulated other comprehensive loss		(284	)		(324	)		(198	)
Retained earnings		5,311			5,282			4,880
Less cost of common stock in treasury — 22,834,368 shares at 3/31/07, 21,161,161 shares at 12/31/06 and 16,461,565 shares at 3/31/06		(1,325	)		(1,219	)		(948	)
Total shareholders’ equity		5,120			5,153			5,094
Total liabilities and shareholders’ equity	$	57,527		$	58,001		$	56,441

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CONSOLIDATED STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	Three Months Ended
	March 31,
(in millions, except per share data)	2007			2006
INTEREST INCOME
Interest and fees on loans	$	851		$	723
Interest on investment securities		42			44
Interest on short-term investments		8			5
Total interest income		901			772
INTEREST EXPENSE
Interest on deposits		286			199
Interest on short-term borrowings		22			42
Interest on medium— and long-term debt		91			52
Total interest expense		399			293
Net interest income		502			479
Provision for loan losses		23			(27	)
Net interest income after provision for loan losses		479			506
NONINTEREST INCOME
Service charges on deposit accounts		54			54
Fiduciary income		50			44
Commercial lending fees		16			15
Letter of credit fees		16			16
Foreign exchange income		9			10
Brokerage fees		11			10
Card fees		12			11
Bank-owned life insurance		9			13
Net income (loss) from principal investing and warrants		(4	)		3
Net securities losses		—			(2	)
Net gain (loss) on sales of businesses		1			(5	)
Other noninterest income		29			26
Total noninterest income		203			195
NONINTEREST EXPENSES
Salaries		206			193
Employee benefits		46			50
Total salaries and employee benefits		252			243
Net occupancy expense		35			30
Equipment expense		15			13
Outside processing fee expense		20			21
Software expense		15			14
Customer services		14			13
Litigation and operational losses		3			1
Provision for credit losses on lending-related commitments		(2	)		13
Other noninterest expenses		55			81
Total noninterest expenses		407			429
Income from continuing operations before income taxes		275			272
Provision for income taxes		86			65
Income from continuing operations		189			207
Income (loss) from discontinued operations, net of tax		1			(13	)
NET INCOME	$	190		$	194
Basic earnings per common share:
Income from continuing operations	$	1.21		$	1.28
Net income		1.21			1.20
Diluted earnings per common share:
Income from continuing operations		1.19			1.26
Net income		1.19			1.18
Cash dividends declared on common stock		101			96
Dividends per common share		0.64			0.59

-15-

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME
Comerica Incorporated and Subsidiaries

	First			Fourth			Third			Second		First			First Quarter 2007 Compared To:
	Quarter			Quarter			Quarter			Quarter		Quarter			Fourth Quarter 2006						First Quarter 2006
(in millions, except per share data)	2007			2006			2006			2006		2006			Amount			Percent			Amount			Percent
INTEREST INCOME
Interest and fees on loans	$	851		$	858		$	843		$	792	$	723		$	(7	)		(0.7	)%	$	128			17.9	%
Interest on investment securities		42			42			43			45		44			—			(1.1	)		(2	)		(4.6	)
Interest on short-term investments		8			12			7			8		5			(4	)		(39.7	)		3			44.9
Total interest income		901			912			893			845		772			(11	)		(1.3	)		129			16.8
INTEREST EXPENSE
Interest on deposits		286			298			272			236		199			(12	)		(3.9	)		87			43.7
Interest on short-term borrowings		22			15			28			45		42			7			54.3			(20	)		(48.2	)
Interest on medium- and long-term debt		91			97			91			64		52			(6	)		(6.9	)		39			75.4
Total interest expense		399			410			391			345		293			(11	)		(2.6	)		106			36.2
Net interest income		502			502			502			500		479			—			(0.2	)		23			4.9
Provision for loan losses		23			22			15			27		(27	)		1			4.5			50			N/M
Net interest income after provision for loan losses		479			480			487			473		506			(1	)		(0.4	)		(27	)		(5.2	)
NONINTEREST INCOME
Service charges on deposit accounts		54			54			56			54		54			—			(2.6	)		—			(1.3	)
Fiduciary income		50			47			45			44		44			3			5.5			6			11.3
Commercial lending fees		16			19			16			15		15			(3	)		(15.8	)		1			5.5
Letter of credit fees		16			16			17			15		16			—			(2.1	)		—			0.5
Foreign exchange income		9			10			9			9		10			(1	)		(4.7	)		(1	)		(4.5	)
Brokerage fees		11			10			10			10		10			1			5.7			1			6.6
Card fees		12			12			11			12		11			—			2.2			1			13.3
Bank-owned life insurance		9			9			8			10		13			—			10.4			(4	)		(28.5	)
Net income (loss) from principal investing and warrants		(4	)		3			—			4		3			(7	)		N/M			(7	)		N/M
Net securities gains (losses)		—			1			—			1		(2	)		(1	)		N/M			2			N/M
Net gain (loss) on sales of businesses		1			—			(7	)		—		(5	)		1			N/M			6			N/M
Income from lawsuit settlement		—			47			—			—		—			(47	)		N/M			—			N/M
Other noninterest income		29			34			30			29		26			(5	)		(12.8	)		3			10.4
Total noninterest income		203			262			195			203		195			(59	)		(22.5	)		8			4.1
NONINTEREST EXPENSES
Salaries		206			231			202			197		193			(25	)		(10.6	)		13			6.6
Employee benefits		46			42			48			44		50			4			7.5			(4	)		(6.8	)
Total salaries and employee benefits		252			273			250			241		243			(21	)		(7.8	)		9			3.8
Net occupancy expense		35			34			31			30		30			1			2.7			5			16.1
Equipment expense		15			14			13			15		13			1			5.5			2			9.8
Outside processing fee expense		20			21			21			22		21			(1	)		(6.1	)		(1	)		(1.5	)
Software expense		15			15			13			14		14			—			1.8			1			11.3
Customer services		14			14			11			9		13			—			7.6			1			5.0
Litigation and operational losses		3			4			3			3		1			(1	)		(34.7	)		2			173.7
Provision for credit losses on lending-related commitments		(2	)		(4	)		(5	)		1		13			2			51.9			(15	)		N/M
Other noninterest expenses		55			86			62			54		81			(31	)		(36.6	)		(26	)		(32.6	)
Total noninterest expenses		407			457			399			389		429			(50	)		(11.1	)		(22	)		(5.1	)
Income from continuing operations before income taxes		275			285			283			287		272			(10	)		(3.6	)		3			1.3
Provision for income taxes		86			100			88			92		65			(14	)		(14.2	)		21			32.8
Income from continuing operations		189			185			195			195		207			4			2.2			(18	)		(8.5	)
Income (loss) from discontinued operations, net of tax		1			114			5			5		(13	)		(113	)		N/M			14			N/M
NET INCOME	$	190		$	299		$	200		$	200	$	194		$	(109	)		(36.5)	%	$	(4	)		(2.5)	%
Basic earnings per common share:
Income from continuing operations	$	1.21		$	1.17		$	1.22		$	1.21	$	1.28		$	0.04			3.1	%	$	(0.07	)		(5.5)	%
Net income		1.21			1.89			1.25			1.24		1.20			(0.68	)		(36.0	)		0.01			0.8
Diluted earnings per common share:
Income from continuing operations		1.19			1.16			1.20			1.19		1.26			0.03			2.9			(0.07	)		(5.6	)
Net income		1.19			1.87			1.23			1.22		1.18			(0.68	)		(36.4	)		0.01			0.8
Cash dividends declared on common stock		101			94			94			96		96			7			7.6			5			4.5
Dividends per common share		0.64			0.59			0.59			0.59		0.59			0.05			8.5			0.05			8.5

N/M — Not meaningful

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ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES
Comerica Incorporated and Subsidiaries

	2007			2006
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Balance at beginning of period	$	493		$	493		$	481		$	472		$	516
Loan charge-offs:
Commercial		13			7			9			16			12
Real estate construction:
Commercial Real Estate business line		1			—			—			—			—
Other		—			—			—			—			—
Total real estate construction		1			—			—			—			—
Commercial mortgage:
Commercial Real Estate business line		3			3			1			—			—
Other		14			4			4			3			2
Total commercial mortgage		17			7			5			3			2
Residential mortgage		—			—			—			—			—
Consumer		3			13			3			4			3
Lease financing		—			3			—			1			6
International		—			1			—			1			2
Total loan charge-offs		34			31			17			25			25
Recoveries on loans previously charged-off:
Commercial		10			5			13			5			4
Real estate construction		—			—			—			—			—
Commercial mortgage		—			1			1			—			2
Residential mortgage		—			—			—			—			—
Consumer		1			1			—			1			1
Lease financing		4			—			—			—			—
International		3			2			—			1			1
Total recoveries		18			9			14			7			8
Net loan charge-offs		16			22			3			18			17
Provision for loan losses		23			22			15			27			(27	)
Balance at end of period	$	500		$	493		$	493		$	481		$	472
Allowance for loan losses as a percentage of total loans		1.04	%		1.04	%		1.06	%		1.04	%		1.06	%
Net loan charge-offs as a percentage of average total loans		0.13			0.18			0.02			0.15			0.14
Net credit-related charge-offs as a percentage of average total loans		0.16			0.19			0.06			0.16			0.19

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

	2007			2006
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr		1st Qtr
Balance at beginning of period	$	26		$	31		$	41		$	41	$	33
Less: Charge-offs on lending-related commitments(1)		3			1			5			1		5
Add: Provision for credit losses on lending-related commitments		(2	)		(4	)		(5	)		1		13
Balance at end of period	$	21		$	26		$	31		$	41	$	41
Unfunded lending-related commitments sold	$	60		$	20		$	28		$	14	$	52

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

-17-

NONPERFORMING ASSETS
Comerica Incorporated and Subsidiaries

	2007			2006
(in millions)	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
SUMMARY OF NONPERFORMING ASSETS AND PAST DUE LOANS
Nonaccrual loans:
Commercial	$	73		$	97		$	83		$	74		$	53
Real estate construction:
Commercial Real Estate business line		21			18			4			5			2
Other		4			2			—			—			—
Total real estate construction		25			20			4			5			2
Commercial mortgage:
Commercial Real Estate business line		17			18			10			11			11
Other		84			54			46			35			29
Total commercial mortgage		101			72			56			46			40
Residential mortgage		1			1			1			1			1
Consumer		4			4			5			3			2
Lease financing		4			8			12			12			7
International		10			12			13			16			17
Total nonaccrual loans		218			214			174			157			122
Reduced-rate loans		—			—			—			—			—
Total nonperforming loans		218			214			174			157			122
Foreclosed property		15			18			23			17			19
Total nonperforming assets	$	233		$	232		$	197		$	174		$	141
Nonperforming loans as a percentage of total loans		0.45	%		0.45	%		0.37	%		0.34	%		0.27	%
Nonperforming assets as a percentage of total loans and foreclosed property		0.49			0.49			0.42			0.37			0.32
Allowance for loan losses as a percentage of total nonperforming assets		214			213			251			278			334	��
Loans past due 90 days or more and still accruing	$	15		$	14		$	18		$	15		$	16
ANALYSIS OF NONACCRUAL LOANS
Nonaccrual loans at beginning of period	$	214		$	174		$	157		$	122		$	138
Loans transferred to nonaccrual (1)		69			66			39			51			20
Nonaccrual business loan gross charge-offs (2)		(31	)		(16	)		(14	)		(21	)		(21	)
Loans transferred to accrual status (1)		—			—			—			—			—
Nonaccrual business loans sold (3)		(4	)		—			—			—			(9	)
Payments/Other (4)		(30	)		(10	)		(8	)		5			(6	)
Nonaccrual loans at end of period	$	218		$	214		$	174		$	157		$	122

(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	$	31	$	16	$	14	$	21	$	21
Performing watch list loans		—		2		—		—		1
Consumer and residential mortgage loans		3		13		3		4		3
Total gross loan charge-offs	$	34	$	31	$	17	$	25	$	25
(3) Analysis of loans sold:
Nonaccrual business loans	$	4	$	—	$	—	$	—	$	9
Performing watch list loans		—		25		7		15		30
Total loans sold	$	4	$	25	$	7	$	15	$	39

(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.

-18-

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

	Three Months Ended
	March 31, 2007									December 31, 2006									March 31, 2006
	Average						Average			Average						Average			Average						Average
(dollar amounts in millions)	Balance			Interest			Rate			Balance			Interest			Rate			Balance			Interest			Rate
Commercial loans (1) (2)	$	27,757		$	499			7.30	%	$	27,609		$	502			7.21	%	$	26,620		$	412			6.26	%
Real estate construction loans		4,249			91			8.66			4,204			92			8.72			3,530			72			8.24
Commercial mortgage loans		9,673			175			7.35			9,515			178			7.43			8,998			155			6.97
Residential mortgage loans		1,705			26			6.11			1,647			25			6.11			1,492			22			5.88
Consumer loans		2,405			43			7.14			2,468			46			7.34			2,660			45			6.83
Lease financing		1,273			10			3.18			1,335			13			3.88			1,298			13			4.03
International loans		1,834			32			7.07			1,790			33			7.25			1,881			30			6.56
Business loan swap expense		—			(24	)		—			—			(30	)		—			—			(25	)		—
Total loans (2)		48,896			852			7.06			48,568			859			7.02			46,479			724			6.30
Investment securities available-for-sale		3,745			42			4.35			3,842			42			4.27			4,154			44			4.10
Federal funds sold and securities purchased under agreements to resell		276			4			5.39			325			4			5.38			189			2			4.58
Other short-term investments		231			4			6.79			554			8			5.80			155			3			7.95
Total earning assets		53,148			902			6.86			53,289			913			6.79			50,977			773			6.12
Cash and due from banks		1,480									1,460									1,648
Allowance for loan losses		(503	)								(504	)								(512	)
Accrued income and other assets		2,963									3,367									3,164
Total assets	$	57,088								$	57,612								$	55,277
Money market and NOW deposits (1)	$	14,749			111			3.05		$	14,705			117			3.15		$	16,595			105			2.57
Savings deposits		1,381			3			0.85			1,376			3			0.90			1,476			2			0.65
Customer certificates of deposit		7,345			80			4.44			7,191			80			4.39			5,887			51			3.52
Institutional certificates of deposit		5,823			78			5.44			5,783			79			5.44			2,624			30			4.62
Foreign office time deposits		1,119			14			4.96			1,499			19			5.06			1,007			11			4.26
Total interest-bearing deposits		30,417			286			3.81			30,554			298			3.87			27,589			199			2.93
Short-term borrowings		1,655			22			5.32			1,053			15			5.30			3,753			42			4.52
Medium- and long-term debt		6,426			91			5.74			6,727			97			5.76			4,029			52			5.22
Total interest-bearing sources		38,498			399			4.20			38,334			410			4.24			35,371			293			3.36
Noninterest-bearing deposits (1)		12,162									12,649									13,609
Accrued expenses and other liabilities		1,327									1,349									1,225
Common shareholders’ equity		5,101									5,280									5,072
Total liabilities and shareholders’ equity	$	57,088								$	57,612								$	55,277
Net interest income/rate spread (FTE)				$	503			2.66					$	503			2.55					$	480			2.76
FTE adjustment				$	1								$	1								$	1
Impact of net noninterest-bearing sources of funds								1.16									1.20									1.04
Net interest margin (as a percentage of average earning assets) (FTE) (2)								3.82	%								3.75	%								3.80	%
(1) FSD balances included above:
Loans (primarily low-rate)	$	1,569		$	3			0.68	%	$	1,909		$	3			0.66	%	$	2,909		$	3			0.43	%
Interest-bearing deposits		1,248			12			3.91			1,338			13			3.94			2,286			21			3.74
Noninterest-bearing deposits		3,450									3,953									4,683
(2) Impact of FSD loans (primarily low-rate) on the following:
Commercial loans								(0.40	)%								(0.49	)%								(0.72	)%
Total loans								(0.22	)								(0.25	)								(0.40	)
Net interest margin (FTE) (assuming loans were funded by noninterest-bearing deposits)								(0.11	)								(0.11	)								(0.22	)

-19-

CONSOLIDATED STATISTICAL DATA
Comerica Incorporated and Subsidiaries

	March 31,			December 31,			September 30,			June 30,			March 31,
(in millions, except per share data)	2007			2006			2006			2006			2006
Commercial loans:
Floor plan	$	2,970		$	3,198		$	2,628		$	3,166		$	3,078
Other		23,711			23,067			23,127			22,762			21,660
Total commercial loans		26,681			26,265			25,755			25,928			24,738
Real estate construction loans:
Commercial Real Estate business line		3,708			3,449			3,352			3,222			2,996
Other		754			754			770			736			683
Total real estate construction loans		4,462			4,203			4,122			3,958			3,679
Commercial mortgage loans:
Commercial Real Estate business line		1,286			1,534			1,529			1,537			1,483
Other		8,306			8,125			7,956			7,826			7,663
Total commercial mortgage loans		9,592			9,659			9,485			9,363			9,146
Residential mortgage loans		1,741			1,677			1,622			1,568			1,516
Consumer loans:
Home equity		1,570			1,591			1,668			1,740			1,748
Other consumer		822			832			830			753			859
Total consumer loans		2,392			2,423			2,498			2,493			2,607
Lease financing		1,273			1,353			1,321			1,325			1,292
International loans		1,848			1,851			1,712			1,764			1,761
Total loans	$	47,989		$	47,431		$	46,515		$	46,399		$	44,739
Goodwill	$	150		$	150		$	213		$	213		$	213
Loan servicing rights		14			14			15			16			17
Tier 1 common capital ratio*		7.47	%		7.54	%		7.48	%		7.69	%		7.66	%
Tier 1 risk-based capital ratio*		8.17			8.02			8.04			8.26			8.24
Total risk-based capital ratio *		12.21			11.63			11.25			11.55			11.68
Leverage ratio*		9.98			9.76			9.68			9.83			9.84
Book value per share	$	32.84		$	32.70		$	32.79		$	31.99		$	31.39
Market value per share for the quarter:
High	$	63.39		$	59.72		$	58.95		$	60.10		$	58.62
Low		56.77			55.82			51.45			50.12			54.23
Close		59.12			58.68			56.92			51.99			57.97
Quarterly ratios:
Return on average common shareholders’ equity		14.86	%		22.63	%		15.38	%		15.50	%		15.33	%
Return on average assets		1.33			2.07			1.41			1.41			1.41
Efficiency ratio		57.66			59.81			57.15			55.41			63.39
Number of banking centers		402			393			382			378			374
Number of employees — full time equivalent
Continuing operations		10,661			10,700			10,568			10,549			10,517
Discontinued operations		—			—			167			169			170

* March 31, 2007 ratios are estimated

-20-

PARENT COMPANY ONLY BALANCE SHEETS
Comerica Incorporated

	March 31,			December 31,			March 31,
(in millions, except share data)	2007			2006			2006
ASSETS
Cash and due from subsidiary bank	$	—		$	122		$	13
Short-term investments with subsidiary bank		462			246			298
Other short-term investments		97			92			—
Investment in subsidiaries, principally banks		5,599			5,586			5,591
Premises and equipment		3			4			3
Other assets		167			152			262
Total assets	$	6,328		$	6,202		$	6,167
LIABILITIES AND SHAREHOLDERS’ EQUITY
Long-term debt	$	956		$	806		$	803
Other liabilities		252			243			270
Total liabilities		1,208			1,049			1,073
Common stock — $5 par value:
Authorized — 325,000,000 shares
Issued — 178,735,252 shares at 3/31/07, 12/31/06 and 3/31/06		894			894			894
Capital surplus		524			520			466
Accumulated other comprehensive loss		(284	)		(324	)		(198	)
Retained earnings		5,311			5,282			4,880
Less cost of common stock in treasury — 22,834,368 shares at 3/31/07, 21,161,161 shares at 12/31/06 and 16,461,565 shares at 3/31/06		(1,325	)		(1,219	)		(948	)
Total shareholders’ equity		5,120			5,153			5,094
Total liabilities and shareholders’ equity	$	6,328		$	6,202		$	6,167

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, 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	)		—		—			—			—			(87	)		(87	)
Net issuance of common stock under employee stock plans		0.9			—		(18	)		—			(14	)		52			20
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
BALANCE AT DECEMBER 31, 2006		157.6		$	894	$	520		$	(324	)	$	5,282		$	(1,219	)	$	5,153
FSP 13-2 transition adjustment, net of tax		—			—		—			—			(46	)		—			(46	)
FIN 48 transition adjustment, net of tax		—			—		—			—			3			—			3
BALANCE AT JANUARY 1, 2007		157.6		$	894	$	520		$	(324	)	$	5,239		$	(1,219	)	$	5,110
Net income		—			—		—			—			190			—			190
Other comprehensive income, net of tax		—			—		—			40			—			—			40
Total comprehensive income																			230
Cash dividends declared on common stock ($0.64 per share)		—			—		—			—			(101	)		—			(101	)
Purchase of common stock		(3.5	)		—		—			—			—			(208	)		(208	)
Net issuance of common stock under employee stock plans		1.8			—		(20	)		—			(17	)		103			66
Recognition of share-based compensation expense		—			—		23			—			—			—			23
Employee deferred compensation obligations		—			—		1			—			—			(1	)		—
BALANCE AT MARCH 31, 2007		155.9		$	894	$	524		$	(284	)	$	5,311		$	(1,325	)	$	5,120

-21-

BUSINESS SEGMENT FINANCIAL RESULTS
Comerica Incorporated and Subsidiaries

							Wealth &
(dollar amounts in millions)	Business			Retail			Institutional
Three Months Ended March 31, 2007	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	329		$	157		$	36		$	(17	)	$	(2	)	$	503
Provision for loan losses		14			5			(1	)		—			5			23
Noninterest income		61			52			71			16			3			203
Noninterest expenses		170			153			76			2			6			407
Provision (benefit) for income taxes (FTE)		65			18			11			(4	)		(3	)		87
Income from discontinued operations, net of tax		—			—			—			—			1			1
Net income (loss)	$	141		$	33		$	21		$	1		$	(6	)	$	190
Net credit-related charge-offs	$	15		$	4		$	—		$	—		$	—		$	19
Selected average balances:
Assets	$	40,059		$	6,840		$	3,898		$	5,015		$	1,276		$	57,088
Loans		39,015			6,095			3,747			17			22			48,896
Deposits		16,710			17,033			2,317			6,490			29			42,579
Liabilities		17,565			17,045			2,317			14,600			460			51,987
Attributed equity		2,850			835			312			574			530			5,101
Statistical data:
Return on average assets (1)		1.41	%		0.75	%		2.17	%		N/M			N/M			1.33	%
Return on average attributed equity		19.80			15.97			27.09			N/M			N/M			14.86
Net interest margin (2)		3.42			3.74			3.88			N/M			N/M			3.82
Efficiency ratio		43.56			73.11			70.74			N/M			N/M			57.66

							Wealth &
	Business			Retail			Institutional
Three Months Ended December 31, 2006	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	335		$	159		$	36		$	(23	)	$	(4	)	$	503
Provision for loan losses		15			6			2			—			(1	)		22
Noninterest income		116			53			67			16			10			262
Noninterest expenses		194			164			86			7			6			457
Provision (benefit) for income taxes (FTE)		88			15			4			(10	)		4			101
Income from discontinued operations, net of tax		—			—			—			—			114			114
Net income (loss)	$	154		$	27		$	11		$	(4	)	$	111		$	299
Net credit-related charge-offs	$	6		$	16		$	1		$	—		$	—		$	23
Selected average balances:
Assets	$	39,872		$	6,810		$	3,794		$	5,515		$	1,621		$	57,612
Loans		38,766			6,100			3,646			25			31			48,568
Deposits		17,110			16,969			2,351			6,817			(44	)		43,203
Liabilities		17,993			16,978			2,348			14,623			390			52,332
Attributed equity		2,748			833			307			568			824			5,280
Statistical data:
Return on average assets (1)		1.54	%		0.61	%		1.17	%		N/M			N/M			2.07	%
Return on average attributed equity		22.32			13.00			14.43			N/M			N/M			22.63
Net interest margin (2)		3.43			3.71			3.90			N/M			N/M			3.75
Efficiency ratio		43.11			77.81			82.90			N/M			N/M			59.81

							Wealth &
	Business			Retail			Institutional
Three Months Ended March 31, 2006	Bank			Bank			Management			Finance			Other			Total
Earnings summary:
Net interest income (expense) (FTE)	$	315		$	155		$	37		$	(24	)	$	(3	)	$	480
Provision for loan losses		(29	)		6			—			—			(4	)		(27	)
Noninterest income		63			50			64			17			1			195
Noninterest expenses		193			143			75			2			16			429
Provision (benefit) for income taxes (FTE)		63			18			9			(7	)		(17	)		66
Loss from discontinued operations, net of tax		—			—			—			—			(13	)		(13	)
Net income (loss)	$	151		$	38		$	17		$	(2	)	$	(10	)	$	194
Net credit-related charge-offs	$	16		$	5		$	—		$	—		$	1		$	22
Selected average balances:
Assets	$	38,100		$	6,782		$	3,623		$	5,228		$	1,544		$	55,277
Loans		36,883			6,076			3,473			3			44			46,479
Deposits		18,899			16,736			2,449			3,214			(100	)		41,198
Liabilities		19,733			16,735			2,446			10,956			335			50,205
Attributed equity		2,557			822			303			471			919			5,072
Statistical data:
Return on average assets (1)		1.59	%		0.87	%		1.86	%		N/M			N/M			1.41	%
Return on average attributed equity		23.71			18.63			22.29			N/M			N/M			15.33
Net interest margin (2)		3.45			3.76			4.28			N/M			N/M			3.80
Efficiency ratio		51.08			69.45			74.62			N/M			N/M			63.39

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

-22-

MARKET SEGMENT FINANCIAL RESULTS
Comerica Incorporated and Subsidiaries

																			Finance
(dollar amounts in millions)													Other						& Other
Three Months Ended March 31, 2007	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	244		$	176		$	67		$	11		$	7		$	17		$	(19	)	$	503
Provision for loan losses		30			(11	)		(1	)		1			(1	)		—			5			23
Noninterest income		116			28			19			4			9			8			19			203
Noninterest expenses		206			110			54			9			9			11			8			407
Provision (benefit) for income taxes (FTE)		34			39			11			2			3			5			(7	)		87
Income from discontinued operations, net of tax		—			—			—			—			—			—			1			1
Net income (loss)	$	90		$	66		$	22		$	3		$	5		$	9		$	(5	)	$	190
Net credit-related charge-offs (recoveries)	$	22		$	(5	)	$	3		$	—		$	—		$	(1	)	$	—		$	19
Selected average balances:
Assets	$	22,755		$	16,782		$	6,719		$	1,646		$	713		$	2,182		$	6,291		$	57,088
Loans		21,783			16,241			6,444			1,626			704			2,059			39			48,896
Deposits		16,657			13,696			3,843			284			482			1,098			6,519			42,579
Liabilities		17,430			13,732			3,858			288			482			1,137			15,060			51,987
Attributed equity		1,955			1,177			556			87			57			165			1,104			5,101
Statistical data:
Return on average assets (1)		1.58	%		1.57	%		1.30	%		0.80	%		3.04	%		1.68	%		N/M			1.33	%
Return on average attributed equity		18.40			22.37			15.73			15.22			38.24			22.27			N/M			14.86
Net interest margin (2)		4.52			4.40			4.19			2.84			4.22			3.22			N/M			3.82
Efficiency ratio		57.17			54.23			62.24			59.07			55.46			42.08			N/M			57.66
																			Finance
													Other						& Other
Three Months Ended December 31, 2006	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	248		$	178		$	69		$	11		$	8		$	16		$	(27	)	$	503
Provision for loan losses		37			(15	)		3			1			(1	)		(2	)		(1	)		22
Noninterest income		123			74			20			4			7			8			26			262
Noninterest expenses		232			122			59			10			9			12			13			457
Provision (benefit) for income taxes (FTE)		24			62			10			1			3			7			(6	)		101
Income from discontinued operations, net of tax		—			—			—			—			—			—			114			114
Net income (loss)	$	78		$	83		$	17		$	3		$	4		$	7		$	107		$	299
Net credit-related charge-offs (recoveries)	$	23		$	(2	)	$	2		$	—		$	—		$	—		$	—		$	23
Selected average balances:
Assets	$	22,843		$	16,572		$	6,631		$	1,631		$	705		$	2,094		$	7,136		$	57,612
Loans		21,836			16,037			6,360			1,611			698			1,970			56			48,568
Deposits		16,713			14,145			3,794			292			439			1,047			6,773			43,203
Liabilities		17,521			14,180			3,807			296			437			1,078			15,013			52,332
Attributed equity		1,901			1,140			559			87			56			145			1,392			5,280
Statistical data:
Return on average assets (1)		1.36	%		2.01	%		1.03	%		0.70	%		2.05	%		1.37	%		N/M			2.07	%
Return on average attributed equity		16.37			29.14			12.20			13.03			25.57			19.74			N/M			22.63
Net interest margin (2)		4.49			4.40			4.27			2.80			4.38			3.25			N/M			3.75
Efficiency ratio		62.64			48.59			66.36			66.69			58.27			50.47			N/M			59.81
																			Finance
													Other						& Other
Three Months Ended March 31, 2006	Midwest			Western			Texas			Florida			Markets			International			Businesses			Total
Earnings summary:
Net interest income (expense) (FTE)	$	243		$	168		$	61		$	10		$	8		$	17		$	(27	)	$	480
Provision for loan losses		—			(14	)		(4	)		—			1			(6	)		(4	)		(27	)
Noninterest income		117			28			18			4			7			3			18			195
Noninterest expenses		223			109			50			8			8			13			18			429
Provision (benefit) for income taxes (FTE)		38			35			10			2			2			3			(24	)		66
Loss from discontinued operations, net of tax		—			—			—			—			—			—			(13	)		(13	)
Net income (loss)	$	99		$	66		$	23		$	4		$	4		$	10		$	(12	)	$	194
Net credit-related charge-offs (recoveries)	$	17		$	—		$	1		$	2		$	—		$	1		$	1		$	22
Selected average balances:
Assets	$	22,332		$	16,261		$	5,611		$	1,390		$	590		$	2,321		$	6,772		$	55,277
Loans		21,303			15,644			5,355			1,371			579			2,180			47			46,479
Deposits		17,039			15,405			3,662			307			601			1,070			3,114			41,198
Liabilities		17,811			15,440			3,666			306			600			1,091			11,291			50,205
Attributed equity		1,803			1,078			496			72			53			180			1,390			5,072
Statistical data:
Return on average assets (1)		1.79	%		1.60	%		1.63	%		1.05	%		2.44	%		1.77	%		N/M			1.41	%
Return on average attributed equity		22.14			24.56			18.40			20.18			30.06			22.90			N/M			15.33
Net interest margin (2)		4.51			4.25			4.46			2.91			5.30			2.97			N/M			3.80
Efficiency ratio		61.83			55.74			63.50			55.72			54.90			64.03			N/M			63.39

(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

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