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Comerica

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In 1982, Comerica entered the Florida market. In 1983, it acquired its hometown rival, Bank of the Commonwealth of Michigan. In the same year, Comerica entered California and Texas markets by offering auto financing services. It strengthened its entrance into the Texas market in 1988 when it acquired
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As the banking situation in the nation became especially volatile in the 1930s, Detroit Savings Bank attempted to continue offering services. On multiple occasions in 1933, Detroit Savings Bank was the sole bank offering full personal and commercial services in Detroit. The Detroit Savings Bank
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reported that i2c Inc., a Comerica contractor, conducted Direct Express operations through an office in Pakistan, in violation of the bank's contract with the Treasury, which requires all program operations to be conducted in the United States. The report caused Comerica's stock price to fall.
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At the start of 1849, there were just three banks in Detroit: Farmers & Mechanics’ Bank, Michigan Insurance Company Bank and the State Bank of Michigan. These three banks were commercial banks that served the business community. On August 17, 1849, Comerica was founded in Detroit by
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In late 2004, the bank began a plan to diversify its operations by opening new banking centers in strong growth markets, primarily in Texas and California. Comerica opened 18 new banking centers in 2005, 25 new banking centers in 2006, and 30 banking centers in 2007.
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The design of the Institution is to afford to those who are desirous of saving money, but who have not acquired sufficient to purchase a share in the banks, railroads, or a sum in public stocks, the means of employing their money to
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In 1992, the bank merged with a similarly sized Detroit-based bank, Manufacturers National Corporation. The merger of Comerica and Manufacturers created one of the country's 25 largest bank holding companies.
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In 1871, the state of Michigan passed a new law meant to encourage the formation of banks that offered both savings and commercial services. In response, the Institute transformed from a trust to a
1536: 1352: 449:(ATM) such as the Ultra/Matic 24. In 1973, it formed a holding company, DetroitBank Corporation. A year later, the Bank & Trust would celebrate its 125th anniversary. The current name, 1152: 863: 1105: 1486: 1079: 765: 1511: 1658: 1678: 1292: 1247: 796: 1405: 1059: 418:
In 1901, Detroit Savings Bank had 10,000 customers. By 1905, the bank had a staff of 21 employees, who managed a downtown main office and two branches.
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in 1969. The early 1970s introduced new technological advancements to banking, which Detroit Bank & Trust would adopt. These advancements include
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On March 6, 2007, the company announced its decision to relocate its corporate headquarters to Dallas to move closer to its customer base in the
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Unlike most banks of that time, the Institute paid interest on deposits, had no shareholders or capital stock, and was managed by unpaid
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In 1956, the company merged with Birmingham National Bank, Ferndale National Bank and Detroit Wabeek Bank and Trust Company to form
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Comerica expanded into North Carolina with the creation of its new Southeast Market in August 2021. With market headquarters in
1537:"DBusiness Daily Update: 313 Presents Announces Exclusive Presenting Partnership with Comerica Bank for Fox Theatre, and More" 557:
of Texas for $ 1.03 billion. The acquisition virtually tripled Comerica's market share in Houston and provided entry into the
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signed an act authorizing the formation of the institute. Ransom also appointed 11 men of high repute to serve as
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In 2017, the bank announced plans to reduce its office space by 500,000 square feet, saving $ 7 million in 2018.
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In May 2021, the bank announced that it would provide $ 5 billion in small business loans from 2021 to 2023.
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An ad published in 1852-53 issue of Detroit's directory expressed the institute's purpose at the time:
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program. The federal government uses the Express Debit product to issue electronic payments, such as
1200: 446: 1224: 578: 84: 1487:"Kirby McInerney LLP Continues Investigation of Shareholder Claims Against Comerica, Inc. (CMA)" 1373: 467:
In 1991, the bank expanded to California by acquiring Plaza Commerce Bancorp and InBancshares.
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In 2001, the bank acquired Imperial Bank of California, which also had branches in Arizona.
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In 1998, the bank signed a 30-year $ 66 million agreement for the naming rights to
427: 264: 164: 1221:"U.S. Treasury Introduces Direct Express® Debit Card for Social Security Payments" 1637: 1437: 743: 617: 571:
Comerica celebrated a historic milestone in 2019, marking its 170th anniversary.
524: 345: 44: 1581: 1223:(Press release). U. S. Department of the Treasury. June 10, 2008. Archived from 634: 602: 590: 490: 403: 199: 67: 1406:"Comerica Bank Expands Southeast Market Presence Into South Carolina, Georgia" 589:, the Southeast Market supports Wealth and Commercial Bank customers based in 460:
In 1990, Comerica received approval to construct a new headquarters building,
1647: 630: 486: 442: 150: 75: 475: 1576: 1345:"Comerica Bank Commits $ 5 Bln To Small Business Lending Over Next 3-yrs" 1293:"Comerica Incorporated Completes Acquisition of Sterling Bancshares, Inc" 558: 523:. In August, the company announced that it selected 1717 Main Street in 781: 539: 333: 230: 93: 1591: 1432:"Comerica in 'serious violation' of Treasury's Direct Express program" 1269:"Comerica in 'serious violation' of Treasury's Direct Express program" 88: 606: 396: 324:, a regional commercial bank with 413 branches in the U.S. states of 26: 1082:(Press release). MBNA Corporation. January 26, 2000. Archived from 610: 547: 520: 479: 329: 35: 1184: 594: 375: 341: 337: 1295:(Press release). Comerica. July 28, 2011 – via PRNewswire. 538:
selected the company as the issuing bank for its Direct Express
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Grand Bancshares. This was the first of 21 Texas acquisitions.
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is an American financial services company, headquartered in
1565: 1459:"Comerica Bank violated Treasury contract: American Banker" 1108:(Press release). Comerica. January 30, 2001. Archived from 768:(Press release). Comerica. October 20, 1998. Archived from 506: 1060:"Comerica signs sponsorship deal for new Red Wings arena" 184: 178: 1248:"Social Security Debit Cards: 7 Things You Need to Know" 1155:(Press release). Comerica. March 6, 2007. Archived from 426:
in 1936, being one of the few area banks to survive the
1153:"Comerica to Relocate Corporate Headquarters to Dallas" 1133:"Comerica buys Imperial Bank, enters Sacramento market" 1327:"Comerica to trim office space by 500,000 square feet" 294: 1308:"Comerica to Buy Sterling Bancshares for $ 1 Billion" 1180:"Comerica moving headquarters to Dallas from Detroit" 948:"Foray Has Begun: Michigan Firm to Buy Bank In State" 1599: 1038:"Comerica to Sell Illinois Banking Unit to ABN Amro" 797:"Comerica to cut nearly 800 jobs, close 40 branches" 690:"Comerica Incorporated 2023 Form 10-K Annual Report" 505:In 2000, Comerica sold its credit card division to 1430: 1036: 986: 896: 1106:"Comerica Completes Imperial Bancorp Acquisition" 474:In 1996, the bank sold its Illinois operation to 1645: 1481: 1479: 1679:Companies listed on the New York Stock Exchange 344:. Comerica is among the largest U.S. financial 1659:Banks based in the Dallas–Fort Worth metroplex 1080:"MBNA America Bank and Comerica Form Alliance" 841:Promises Kept: The Story of Comerica 1849-1999 1476: 891: 889: 887: 885: 739:"FRB: Large Commercial Banks, June 30, 2023" 843:. Detroit, Michigan: Comerica Incorporated. 348:, with offices in a number of U.S. cities. 988:"Comerica, Rival Will Merge in Stock Swap" 766:"Comerica Celebrates 150 Years of Banking" 34: 25: 1572:Business data for Comerica Incorporated: 1374:"Best Bank Accounts for Small Businesses" 1305: 882: 509:and formed an alliance with the company. 1306:Nicholson, Chris V. (January 18, 2011). 1198: 1130: 927:"Building Plan In Detroit Starts Debate" 536:United States Department of the Treasury 1245: 838: 694:U.S. Securities and Exchange Commission 177:Curt Farmer (Chairman, President & 1664:American companies established in 1849 1646: 1534: 1428: 1400: 1398: 1324: 1266: 1177: 966: 945: 713:Federal Deposit Insurance Corporation 1131:Anderson, Mark (November 21, 2000). 1057: 858: 856: 854: 852: 850: 834: 832: 830: 828: 826: 824: 822: 820: 818: 816: 435:The Detroit Bank & Trust Company 1199:Hethcock, Bill (December 9, 2007). 967:Quint, Michael (October 29, 1991). 946:Bates, James (September 21, 1989). 660:Comerica Bank Free Prix Day at the 16:American financial services company 13: 1395: 682: 366:, a lawyer and politician, as the 14: 1695: 1557: 1178:Gupta, Poornima (March 6, 2007). 847: 813: 794: 489:in downtown Detroit, home to the 128:as Detroit Savings Fund Institute 1630: 1616: 1602: 1246:Brandon, Emily (June 11, 2008). 1058:Shea, Bill (February 24, 2016). 969:"Banks Plan A Merger In Detroit" 898:"Comerica: 158 years in Detroit" 553:In July 2011, the bank acquired 271: 270: 254: 253: 237: 236: 214: 213: 1684:1849 establishments in Michigan 1528: 1504: 1451: 1422: 1384:from the original on 2021-07-30 1366: 1355:from the original on 2021-07-30 1337: 1318: 1299: 1285: 1260: 1239: 1213: 1206:American City Business Journals 1192: 1171: 1145: 1138:American City Business Journals 1124: 1098: 1072: 1051: 1029: 1005: 979: 960: 939: 720:from the original on 2023-10-08 708:"BankFind Suite: Comerica Bank" 655:Comerica Bank New Year's Parade 624: 305:Footnotes / references 919: 788: 758: 731: 700: 368:Detroit Savings Fund Institute 1: 1610:Business and economics portal 1325:Prior, Jon (April 25, 2017). 675: 404:stockholder-owned corporation 1253:U.S. News & World Report 119:; 175 years ago 7: 10: 1700: 1535:Keenan, Tim (2021-09-21). 1429:Berry, Kate (2023-05-30). 1267:Berry, Kate (2023-05-30). 667:Presenting sponsor of the 351: 1674:Companies based in Dallas 1669:Banks established in 1849 839:Luedtke, Eleanor (1999). 671:in Detroit (2021–present) 548:do not have bank accounts 447:automated teller machines 303: 289: 279: 262: 245: 228: 209: 191: 171: 157: 142: 132: 113: 103: 73: 63: 55: 33: 24: 904:Crain's Detroit Business 633:in Detroit, home to the 581:, along with offices in 546:benefits, to people who 500: 413: 408:The Detroit Savings Bank 356: 1331:Dallas Business Journal 1167:– via PRNewswire. 1120:– via PRNewswire. 1094:– via PRNewswire. 453:, was adopted in 1982. 275:US$ 6.41 billion (2023) 258:US$ 85.8 billion (2023) 59:Detroitbank Corporation 406:. Its name changed to 320:. It is the parent of 241:US$ 881 million (2023) 657:in Dallas (2007–2010) 639:Major League Baseball 534:In January 2008, the 495:Major League Baseball 314:Comerica Incorporated 285:7,496 (December 2023) 20:Comerica Incorporated 1654:Banks based in Texas 1065:Crain Communications 696:. February 28, 2024. 422:changed its name to 370:. Michigan Governor 1227:on December 8, 2016 1159:on October 19, 2017 1112:on October 19, 2017 1086:on October 19, 2017 1001:. October 29, 1991. 772:on October 19, 2017 482:for $ 190 million. 372:Epaphroditus Ransom 281:Number of employees 159:Number of locations 147:Comerica Bank Tower 41:Comerica Bank Tower 21: 1541:DBusiness Magazine 1410:Comerica MediaRoom 1312:The New York Times 1044:The New York Times 1017:Comerica MediaRoom 973:The New York Times 935:. August 22, 1990. 932:The New York Times 801:Detroit Free Press 662:Detroit Grand Prix 462:One Detroit Center 196:Commercial banking 108:Financial services 19: 1047:. March 20, 1996. 994:Los Angeles Times 953:Los Angeles Times 870:. 24 January 2023 864:"Company History" 616:On May 29, 2023, 346:holding companies 311: 310: 204:Wealth management 183:James J. 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Index



Comerica Bank Tower
Downtown Dallas
Texas
Public
Traded as
NYSE
CMA
S&P 600
Financial services
Elon Farnsworth
Comerica Bank Tower
Dallas, Texas
branches
CEO
CFO
Commercial banking
Retail banking
Wealth management
US$
Net income
Total assets
Total equity
comerica.com
Dallas, Texas
Texas
Michigan
California
Florida

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