Comerica Incorporated is a financial services company headquartered in
Dallas, Texas. It has retail banking operations in Texas, Michigan,
California and Florida, with select business operations in
several other U.S. states, as well as in
Canada and Mexico.
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 and Dallas.
The banks sponsors
Comerica Park in Detroit,
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.
In 1849, the company was founded in Detroit by Elon Farnsworth as the
Detroit Savings Fund Institute.
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. 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. In
1973, it formed a holding company, DetroitBank Corporation. The
current name was adopted in 1982.
Comerica entered the
Florida market. In 1983, it acquired its
hometown rival, Bank of the Commonwealth of Michigan. It entered the
Texas market in 1988 when it acquired Grand Bancshares.
Comerica received approval to construct a new headquarters
building, One Detroit Center.
In 1991, the bank expanded to
California by acquiring Plaza Commerce
Bancorp and InBancshares.
In 1992, the bank merged with a similarly-sized Detroit-based bank,
Manufacturers National Corporation.
In 1996, the bank sold its Illinois operation to
LaSalle Bank parent
ABN Amro for $190 million.
In 1998, the bank signed a 30-year $66 million agreement for the
naming rights to
Comerica Park in downtown Detroit, home to the
Detroit Tigers of Major League Baseball.
In 2000, the bank sold its credit card division to
MBNA and formed an
alliance with the company.
In 2001, the bank acquired Imperial Bank of California, which also had
branches in Arizona.
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. 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
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).
In July 2011, the bank acquired Sterling Bank of
Texas for $1.03
In 2017, the bank announced plans to reduce its office space by
500,000 square feet, saving $7 million in 2018.
^ a b "
Comerica Incorporated 2017 Form 10-K Annual Report". U.S.
Securities and Exchange Commission.
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
^ "Building Plan In Detroit Starts Debate". The New York Times. August
^ Bates, James (September 21, 1989). "Foray Has Begun:
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 to Sell Illinois Banking Unit to ABN Amro". The New York
Times. March 20, 1996.
^ Shea, Bill (February 24, 2016). "
Comerica signs sponsorship deal for
new Red Wings arena". Crain's Detroit Business.
MBNA America Bank and
Comerica Form Alliance" (Press release). MBNA
Corporation. January 26, 2000 – via PRNewswire.
Comerica Completes Imperial Bancorp Acquisition" (Press release).
Comerica. January 30, 2001 – via PRNewswire.
^ Anderson, Mark (November 21, 2000). "
Comerica buys Imperial Bank,
enters Sacramento market". Sacramento Business Journal.
Comerica to Relocate Corporate Headquarters to Dallas" (Press
release). Comerica. March 6, 2007 – via PRNewswire.
^ Gupta, Poornima (March 6, 2007). "
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 Incorporated Completes Acquisition of Sterling Bancshares,
Inc" (Press release). Comerica. July 28, 2011 – via
^ Nicholson, Chris V. (January 18, 2011). "
Comerica to Buy Sterling
Bancshares for $1 Billion". The New York Times.
^ Prior, Jon (April 25, 2017). "
Comerica to trim office space by
500,000 square feet". Dallas Business Journal.
Business data for Comerica: Google Finance
50 largest banks and bank holding companies in the United States
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