Comerica Incorporated is a financial services company headquartered in Dallas, Texas. It has retail banking operations in Texas, Michigan, Arizona, California, and Florida, with certain business operations in several other US states, as well as in Canada and Mexico.
Comerica is the largest US commercial bank headquartered in Texas and is on the list of the largest banks in the United States.
The company's largest offices are in Detroit, Livonia, Auburn Hills, Michigan and Dallas.
The bank sponsors Comerica Park in Detroit, Comerica Theater in Phoenix, and sponsors the New Year's Comerica Bank Parade in Dallas between 2007 and 2010.
Video Comerica
History
In 1849, the company was founded in Detroit by Elon Farnsworth as the Savings Fund Fund of Detroit .
His name changed to The Detroit Savings Bank in 1871 and at The Detroit Bank in 1936, becoming one of several local 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 & amp; Trust Company . In 1973, he formed a holding company, DetroitBank Corporation. The current name was adopted in 1982.
In 1982, Comerica entered the Florida market. In 1983, he acquired his hometown rival, Bank of the Commonwealth of Michigan. It entered the Texas market in 1988 when it acquired Grand Bancshares.
In 1990, Comerica received approval to build 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 joined the Detroit-based bank, Manufacturers National Corporation.
In 1996, the bank sold Illinois operations to the parents of LaSalle Bank ABN Amro for $ 190 million.
In 1998, the bank signed a $ 66 million agreement worth 30 years for the naming rights of Comerica Park in downtown Detroit, where 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 has a branch 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 at Sun Belt. In August, the company announced that it chose 1717 Main Street in Downtown Dallas. Company executives began moving to 1717 Main Street in November 2007 and the building was named Tower Comerica.
In January 2008, the US Treasury selected the company as the issuing bank for the Direct Express debit card program. The federal government uses Express Debit products to issue electronic payments, such as Social Security benefits, to people who do not have a bank account (no bank account).
In July 2011, the bank acquired Sterling Bank of Texas for $ 1.03 billion.
In 2017, the bank announced plans to reduce its office space by 500,000 square feet, saving $ 7 million by 2018.
Maps Comerica
References
External links
Source of the article : Wikipedia
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