Comerica Bank is based in Dallas, Texas, USA. The bank provides an array of credit and non-credit financial products and services. Comerica Bank is among the twenty largest banking companies in the U.S
Comerica Bank was founded in Detroit by Elon Farnsworth in 1849 as the Detroit Savings Fund Institute. Recently, Comerica operates 444 full-service banking centers in its five primary markets, including 95 in Texas as of data from March 31, 2011. Comerica Bank operates 217 banking centers in Michigan, 104 In Arizona, 17 in Phoenix/Scottsdale, and 11 in Florida. Comerica Bank also can be found in several other states, as well as in Canada and Mexico. Comerica employs 9,100 people.
Latest news, on Tuesday, the head of Comerica Bank expressed optimism about Michigan's economy as the bank reported that its profits in the state more than doubled in the first quarter.
Comerica Bank reported that it earned $53 million in its Michigan market in the first quarter. The earnings growth in Michigan helped Comerica earn $102 million, or 57 cents a share, in the first quarter.
The increase in earnings was driven by fewer write-offs for bad loans and other reductions in credit costs as well as good expense control, said Comerica about the increase in earnings.
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