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Dallas , TX / October 20 , 2021 NEWS RELEASE THIRD QUARTER 2021 NET INCOME OF $ 262 MILLION , $ 1.90 PER SHARE Solid Loan Performance Overshadowed by PPP Forgiveness General Middle Market Loans Up 3 Percent Excluding PPP Strong Deposit Growth and Credit Quality Continued Repurchased $ 220 Million , or 3.0 Million Common Shares , Under Program " We generated earnings of $ 1.90 per share and an ROE of 13.53 percent in the third quarter , " said Curt C. Farmer , Comerica Chairman , President and Chief Executive Officer . " Solid loan growth in a number of business lines was overshadowed by headwinds from PPP loan forgiveness and reduced auto dealer loans due to supply constraints . We continued to drive strong deposit growth , robust fee income , and excellent credit quality . Revenue increased quarter over quarter and year over year , despite the low - rate environment . Our efficiency ratio was stable as we remained focused on managing expenses while supporting our revenue - generating activities . Also , we repurchased over 3 million shares , reducing our share count by over 2 percent . We expect economic metrics to remain relatively strong over the next year , which bodes well for growth . " ( dollar amounts in millions , except per share data ) FINANCIAL RESULTS Net interest income Provision for credit losses Comerica Noninterest income Noninterest expenses ( a ) Pre - tax income ( a ) Provision for income taxes 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 ) $ $ $ 3rd Qtr '21 475 ( 42 ) 280 465 332 70 262 1.90 48,135 79,115 1.14 % 13.53 2.23 10.21 10.79 7.84 56.55 51.61 $ $ $ $ 2nd Qtr '21 465 ( 135 ) 284 463 421 93 328 2.32 49,828 75,520 1.50 % 17.10 2.29 10.35 10.93 8.53 56.28 51.43 ( a ) Recast 2020 results . See Reconciliations of Previously Reported Balances . ( b ) Estimated for September 30 , 2021. Ratios reflect deferral of CECL model impact as calculated per regulatory guidance . ( c ) See Reconciliations of Non - GAAP Financial Measures and Regulatory Ratios . $ $ 3rd Qtr '20 458 5 252 438 267 50 217 1.48 52,013 68,763 1.02 % 11.14 2.33 10.25 10.84 8.94 53.78 49.20