Comerica Bank
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| Public | |
| Traded as | : CMA S&P 500 Component |
| Industry | • Banking • Financial services |
| Founded | Detroit, Michigan, United States (1849 as Detroit Savings Fund Institute) |
| Headquarters |
Comerica Bank Tower Dallas, Texas, United States |
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Number of locations
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481 (December 31, 2014) |
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Key people
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• Ralph Babb, Chairman and Chief Executive Officer • Curtis C. Farmer, President |
| Services | • Commercial banking • Retail banking • Wealth management |
| Revenue |
 US$ 2.6 billion (2014)
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US$ 593 million (2014)
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| Total assets | US$ 72.978 billion (2016) |
| Total equity |
US$ 7.4 billion (2014)
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Number of employees
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8,876 (December 31, 2014) |
| Website | comerica.com |
Comerica, Inc. is an American financial services company headquartered in Dallas, Texas. It was founded in Detroit, Michigan, in 1849 as the Detroit Savings Fund Institute. In addition to Texas and Michigan, it has retail-banking operations in Arizona, California and Florida, with select business operations in several other U.S. states, as well as in Canada and Mexico.
Comerica is among the 25 largest U.S. financial holding companies, with $70 billion in total assets, $49.5 billion in total loans, and $56.5 billion in total deposits as of June 30, 2016. It is the largest U.S. commercial bank headquartered in Texas. The company's operating units include the Business Bank, the Retail Bank, and Wealth Management.
Employing nearly 9,000 people, its major operations are located in Detroit, Livonia, Auburn Hills, Michigan and Dallas. Ralph Babb is the Chairman of the Board of Directors and Chief Executive Officer; Curtis C. Farmer is President; and David Duprey is the Chief Financial Officer.
The company was founded in Detroit by Elon Farnsworth in 1849 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 1971, it formed a holding company, DetroitBank Corporation. The current name was adopted in 1982.
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