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Comerica
Comerica
Incorporated is a financial services company headquartered in Dallas, Texas. It has retail banking operations in Texas, Michigan, Arizona, California
California
and Florida, with select business operations in several other U.S. states, as well as in Canada
Canada
and Mexico.[1] Comerica
Comerica
is the largest U.S. commercial bank headquartered in Texas and is on the list of largest banks in the United States. The company's largest offices are in Detroit, Livonia, Auburn Hills, Michigan
Michigan
and Dallas. The banks sponsors Comerica Park
Comerica Park
in Detroit, Comerica Theatre
Comerica Theatre
in Phoenix, and sponsored the Comerica Bank New Year's Parade
Comerica Bank New Year's Parade
in Dallas between 2007 and 2010. History[edit] In 1849, the company was founded in Detroit by Elon Farnsworth as the Detroit Savings Fund Institute.[2] Its name changed to The Detroit Savings Bank in 1871 and to The Detroit Bank in 1936, being one of the few area banks to survive the Great Depression.[3] In 1956, the company merged with Birmingham National Bank, Ferndale National Bank and Detroit Wabeek Bank and Trust Company to form The Detroit Bank & Trust Company.[3] In 1973, it formed a holding company, DetroitBank Corporation.[3] The current name was adopted in 1982.[3] In 1982, Comerica
Comerica
entered the Florida
Florida
market. In 1983, it acquired its hometown rival, Bank of the Commonwealth of Michigan. It entered the Texas
Texas
market in 1988 when it acquired Grand Bancshares. In 1990, Comerica
Comerica
received approval to construct a new headquarters building, One Detroit Center.[4] In 1991, the bank expanded to California
California
by acquiring Plaza Commerce Bancorp and InBancshares.[5] In 1992, the bank merged with a similarly-sized Detroit-based bank, Manufacturers National Corporation.[6][7] In 1996, the bank sold its Illinois operation to LaSalle Bank
LaSalle Bank
parent ABN Amro
ABN Amro
for $190 million.[8] In 1998, the bank signed a 30-year $66 million agreement for the naming rights to Comerica Park
Comerica Park
in downtown Detroit, home to the Detroit Tigers
Detroit Tigers
of Major League Baseball.[9] In 2000, the bank sold its credit card division to MBNA
MBNA
and formed an alliance with the company.[10] In 2001, the bank acquired Imperial Bank of California, which also had branches in Arizona.[11][12] 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 Sun Belt.[13][14] In August, the company announced that it selected 1717 Main Street in Downtown Dallas. The company executives began moving into 1717 Main Street in November 2007 and the building was renamed Comerica
Comerica
Tower.[15] In January 2008, the United States Department of the Treasury
United States Department of the Treasury
selected the company as the issuing bank for its Direct Express debit-card program. The federal government uses the Express Debit product to issue electronic payments, such as Social Security benefits, to people who do not have bank accounts (unbanked).[16][17] In July 2011, the bank acquired Sterling Bank of Texas
Texas
for $1.03 billion.[18][19] In 2017, the bank announced plans to reduce its office space by 500,000 square feet, saving $7 million in 2018.[20] References[edit]

^ a b " Comerica
Comerica
Incorporated 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.  ^ " Comerica
Comerica
Celebrates 150 Years of Banking" (Press release). Comerica. October 20, 1998 – via PRNewswire.  ^ a b c d "Comerica: 158 years in Detroit". Crain's Detroit Business. March 6, 2007. Retrieved February 1, 2018. (Subscription required (help)).  ^ "Building Plan In Detroit Starts Debate". The New York Times. August 22, 1990.  ^ Bates, James (September 21, 1989). "Foray Has Begun: Michigan
Michigan
Firm to Buy Bank In State". Los Angeles Times.  ^ Quint, Michael (October 29, 1991). "Banks Plan A Merger In Detroit". The New York Times.  ^ "Comerica, Rival Will Merge in Stock Swap". Los Angeles Times. Associated Press. October 29, 1991.  ^ " Comerica
Comerica
to Sell Illinois Banking Unit to ABN Amro". The New York Times. March 20, 1996.  ^ Shea, Bill (February 24, 2016). " Comerica
Comerica
signs sponsorship deal for new Red Wings arena". Crain's Detroit Business.  ^ " MBNA
MBNA
America Bank and Comerica
Comerica
Form Alliance" (Press release). MBNA Corporation. January 26, 2000 – via PRNewswire.  ^ " Comerica
Comerica
Completes Imperial Bancorp Acquisition" (Press release). Comerica. January 30, 2001 – via PRNewswire.  ^ Anderson, Mark (November 21, 2000). " Comerica
Comerica
buys Imperial Bank, enters Sacramento market". Sacramento Business Journal.  ^ " Comerica
Comerica
to Relocate Corporate Headquarters to Dallas" (Press release). Comerica. March 6, 2007 – via PRNewswire.  ^ Gupta, Poornima (March 6, 2007). " Comerica
Comerica
moving headquarters to Dallas from Detroit". Reuters.  ^ Hethcock, Bill (December 9, 2007). "Large ad agency cites area's vibrancy in decision to return". Dallas Business Journal.  ^ "U.S. Treasury Introduces Direct Express® Debit Card for Social Security Payments" (Press release). U. S. Department of the Treasury. June 10, 2008.  ^ Brandon, Emily (June 11, 2008). "Social Security Debit Cards: 7 Things You Need to Know". U.S. News & World Report.  ^ " Comerica
Comerica
Incorporated Completes Acquisition of Sterling Bancshares, Inc" (Press release). Comerica. July 28, 2011 – via PRNewswire.  ^ Nicholson, Chris V. (January 18, 2011). " Comerica
Comerica
to Buy Sterling Bancshares for $1 Billion". The New York Times.  ^ Prior, Jon (April 25, 2017). " Comerica
Comerica
to trim office space by 500,000 square feet". Dallas Business Journal. 

External links[edit]

Business data for Comerica: Google Finance Yahoo! Finance Bloomberg Reuters SEC filings

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50 largest banks and bank holding companies in the United States

Ally American Express Bank of America Bank of New York Mellon Barclays* BB&T BBVA* BMO Harris* BNP Paribas* Capital One Charles Schwab CIT Citigroup Citizens Comerica Credit Suisse* Deutsche Bank* Discover E-Trade Fifth Third First Horizon Goldman Sachs HSBC* Huntington JPMorgan Chase KeyBank M&T* Morgan Stanley MUFG Union Bank* Mutual of Omaha New York Community Northern Trust People's United PNC Popular RBC* Regions Banco Santander* State Farm State Street SunTrust SVB Synchrony TD* TIAA U.S. Bancorp UBS* USAA Wells Fargo Zions

* indicates the U.S. subsidiary of a non-U.S. bank. Inclusion on this list is based on U.S. assets only, and is current as of March 31, 2017.

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