Comerica

Comerica

Comerica Incorporated is an American financial-services company headquartered in Dallas, Texas. It has retail-banking operations in Arizona, California, Florida, Michigan and Texas; and select business operations in several other U.S. states, as well as in Canada and Mexico.

It is among the 25-largest banking companies in the U.S., and had $54.1 billion in total assets and $41.1 billion in total core deposits as of June 30, 2011; it is the largest bank-holding company headquartered in Texas. The company's operating units include the Business Bank, the Retail Bank, and Wealth Management. Employing 9,100 people, its major operations are located in Dallas; Detroit, Michigan; and Auburn Hills, Michigan. Ralph Babb is the Chairman of the Board of Directors and Chief Executive Officer; Karen Parkhill 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. The current name was adopted in 1982.
In 1982, the company entered the Florida market. In 1983, it acquired its hometown rival Bank of the Commonwealth. It entered the Texas market in 1988 when it acquired Grand Bancshares. The California market was added in 1991 when Plaza Commerce Bancorp and InBancshares were acquired.