please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . december 2011 learn how and when to remove this template message comerica inc. comerica bank tower in downtown dallas texas type public traded as nyse 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 number of locations 481 december 31 2014 1 key people ralph babb chairman and chief executive officer curtis c. farmer president services commercial banking retail banking wealth management revenue us 2.6 billion 2014 1 net income us 593 million 2014 1 total assets us 69.2 billion 2014 1 total equity us 7.4 billion 2014 1 number of employees 8 876 december 31 2014 1 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 . 2 contents 1 history 2 partnership with mastercard 3 see also 4 references 5 external links history edit 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 . 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 . it added the california market in 1991 when it purchased plaza commerce bancorp and inbancshares . in 1992 it merged with another large detroit based bank manufacturers national corporation . both banks were approximately the same size in assets 14.3 billion and 12.5 billion respectively and employees 7 000 and 6 000 . the merged bank announced its headquarters would be in the newly constructed comerica tower at detroit center in downtown detroit in 1993 . comerica had previously maintained offices in the detroit savings bank building and comerica tower while manufacturers bank occupied space in tower 200 of renaissance center . in 1996 the company sold its illinois operation which it acquired as part of its merger with manufacturers to lasalle bank . in 2000 the bank sold its credit card division to mbna . in 2001 it acquired imperial bank of california which also had branches in arizona . in 1998 the company purchased the naming rights to the baseball stadium in downtown detroit home to the detroit tigers of major league baseball . it is to pay 66 million over a period of 30 years for the naming rights to comerica park . in october 2002 comerica inc. announced to restate its second quarter earnings to account for a 213 million charge to cover climbing loan losses and a decline in the value of its munder capital management unit . 3 on march 6 2007 the company announced its decision to relocate its corporate headquarters to dallas in order to move closer to its customer base in the sun belt . 4 in august the company announced that it selected 1717 main street in downtown dallas . the company executives began moving into 1717 main street in november 2007 . 5 the building has since been renamed comerica bank tower . 6 in january 2008 the company was selected by the u.s. department of the treasury as the financial agent for its direct express debit card program . on january 18 2011 it announced the acquisition of houston based sterling bank texas for 1.03 billion strengthening comerica s presence in the lone star state . the acquisition virtually tripled its market share in houston provided it entry into the san antonio and kerrville regions and complemented its banking center network in dallas fort worth . in august 2011 the company consolidated its detroit operations into the 411 building vacating one detroit center . the 411 building is the former headquarters of manufacturers bank . 7 in 2014 comerica provided more than 8.5 million to not for profit organizations in its markets . its employees raised more than 2.2 million for the united way and black united fund and donated their personal time with more than 73 000 hours spent helping to make a positive difference in the communities it serves . in 2015 comerica was again identified as a u.s. leader by cdp the international not for profit for the quality of climate change related information it has disclosed to investors and the global marketplace . comerica was awarded a position on the s & p climate disclosure leadership index cdli as a result of its perfect 100 score independently assessed against cdp s scoring methodology . those organizations graded within the top 10 percent constitute the cdli . this marked comerica s first perfect 100 disclosure score and the fifth time being listed on the cdli . comerica has also twice been listed on the cdp s climate performance leadership index cpli for its performance in reducing carbon emissions . partnership with mastercard edit comerica bank mastercard and the u.s. treasury department teamed up in 2008 to create the direct express debit mastercard prepaid debit card . the federal government uses the express debit product to issue electronic payments to people who do not have bank accounts who are often referred to collectively as the unbanked . comerica bank is the issuing bank for the debit card . 8 see also edit business and economics portal companies portal dallas fort worth portal detroit portal comerica bank building san diego california comerica bank challenger tennis tournament comerica bank new year s parade dallas texas list of banks in the americas list of companies in dallas list of michigan companies references edit a b c d e f 2014 form 10 k comerica incorporated . u.s. securities and exchange commission . david duprey bio comerica to record a 213 million after tax charge related to incremental provision for credit losses goodwill impairment press release . comerica . october 2 2002 . company press release archive comerica bank . march 6 2007 . retrieved on november 23 2013 . hethcock bill . large ad agency cites area s vibrancy in decision to return . dallas business journal . december 9 2007 . p. 2 . retrieved october 17 2010 . in august comerica inc. announced it would move into the skyscraper formerly known as bank one center when the banking and financial firm relocated its headquarters from detroit . comerica leased five floors 164 000 square feet and the building was renamed to reflect its new lead tenant . comerica executives began moving in last month . contact us . comerica . retrieved april 19 2009 . yung katherine august 27 2011 . comerica consolidates downtown . detroit free press . retrieved 2015 10 02 . federal government chooses direct deposit and prepaid cards over mailing checks bankcreditnews 15 apr 2013 accessed 22 apr 2013 external links edit comerica official website comerica online newsroom comerica s senior leadership team v t e 50 largest banks and bank holding companies in the united states ally american express bancwest bank of america bank of new york mellon bb & t bbva compass bmo harris capital one charles schwab cit citigroup citizens comerica deutsche discover e trade fifth third first niagara ge capital goldman sachs hsbc bank usa huntington john deere jpmorgan chase key m & t morgan stanley mufg union mutual of omaha nationwide new york community northern trust people s united pnc popular rbc usa regions santander state farm state street suntrust svb synchrony td tiaa u.s. usaa wells fargo zions indicates the u.s. subsidiary of a non u.s. bank . inclusion on this list is based on u.s. assets only and is current as of december 31 2015 . retrieved from https en.wikipedia.org w index.php title comerica & oldid 743440498 categories 1849 establishments in michiganbanks based in michiganbanks based in texasbanks established in 1849companies based in detroitcompanies based in dallascompanies listed on the new york stock exchangefinancial services companies of the united stateshidden categories articles needing additional references from december 2011all articles needing additional references navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutschfran ais edit links this page was last modified on 9 october 2016 at 17 38 . text is available under the 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