Comerica

Comerica, Inc. is an American financial services company founded in Detroit, Michigan and currently headquartered in Dallas, Texas. In addition to Michigan and Texas, it has retail-banking operations in Arizona, California, and Florida, and select business operations in several other U.S. states, as well as in Canada and Mexico.

It is the 22nd largest U.S. financial holding company, with $69.3 billion in total assets, $48.2 billion in total loans, and $57 billion in total deposits as of March 31, 2015. 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; Karen Parkhill is the Chief Financial Officer.

History

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.