Page 1

Dallas , TX / July 21 , 2021 NEWS RELEASE SECOND QUARTER 2021 NET INCOME OF $ 328 MILLION , $ 2.32 PER SHARE Revenue Increased 5 Percent Robust Growth in Fee - Generating Activity Strong Credit Quality and Improved Economic Outlook Drove Reserve Release Repurchased 5.9 Million , or 4 Percent , of Common Shares Under Program Together With Dividends , Returned $ 542 Million to Shareholders Comerica " Our second quarter results showed continuation of several positive trends , " said Curt C. Farmer , Comerica Chairman , President and Chief Executive Officer . " This included strong deposit growth , robust fee income and excellent credit quality . Revenue increased and we remained focused on expense control as we supported our revenue generating activities . We saw solid loan growth in several business lines , led by General Middle Market , which was more than offset by declines in auto dealer floorplan and Mortgage Banker . Also , our pipeline again increased as customers ramped up with the economy re - opening . We repurchased 5.9 million shares , reducing our share count by over 4 percent . Our ROE of over 17 percent and ROA of 1.50 percent remain above our historical norm , despite the ultra - low rate environment . Our customers and colleagues across our markets are optimistic about the future and we expect economic metrics to remain strong the back half of the year . " ( dollar amounts in millions , except per share data ) FINANCIAL RESULTS Net interest income Provision for credit losses Noninterest income Noninterest expenses ( a ) Pre - tax income ( a ) Provision for income taxes ( a ) Net income ( a ) Diluted earnings per common share ( a ) Average loans Average deposits Return on average assets ( a ) Return on average common shareholders ' equity ( a ) Net interest margin Common equity Tier 1 capital ratio ( b ) Tier 1 capital ratio ( b ) Common equity ratio Common shareholders ' equity per share of common stock Tangible common equity per share of common stock ( c ) $ $ $ 2nd Qtr '21 465 ( 135 ) 284 463 421 93 328 2.32 49,828 75,520 1.50 % 17.10 2.29 10.39 10.97 8.53 56.28 51.43 $ $ $ $ 1st Qtr '21 443 ( 182 ) 270 447 448 98 350 2.43 50,589 71,392 1.68 % 18.04 2.29 11.02 11.62 8.99 55.58 50.93 ( a ) Recast 2020 results . See Reconciliations of Previously Reported Balances . Estimated for June 30 , 2021. Ratios reflect deferral of CECL model impact as calculated per regulatory guidance . See Reconciliations of Non - GAAP Financial Measures and Regulatory Ratios . ( c ) $ $ $ $ 2nd Qtr '20 471 138 247 434 146 28 118 0.84 53,498 64,282 0.58 % 6.40 2.50 9.99 10.58 8.78 53.28 48.69