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Comerica Incorporated (NYSE: CMA) is a prominent financial services company headquartered in Dallas, Texas. The company is strategically aligned by three main business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica is renowned for its emphasis on relationship-based banking, aimed at helping individuals and businesses achieve success.
The Commercial Bank provides companies of all sizes with an extensive range of credit and non-credit financial products and services. The Retail Bank offers personalized financial products and services to individual consumers, while Wealth Management caters to high net worth clients and institutions, ensuring their financial goals are met with precision.
Comerica operates across seven of the ten largest cities in the United States, with 480 banking centers situated in key markets including Texas, Arizona, California, Florida, and Michigan. The company also has a presence in Canada and Mexico, thereby broadening its geographical footprint and service reach.
Founded 175 years ago in Detroit, Michigan, Comerica has grown to become one of the 25 largest commercial U.S. financial holding companies. As of December 31, 2023, Comerica reported total assets worth $85.8 billion. The company continues to expand into new regions such as the Southeast Market based in North Carolina, and the Mountain West Market in Colorado, underscoring its commitment to growth and community service.
Comerica's recent achievements include the launch of its new Frisco Business & Innovation Hub in North Texas, which offers free coworking space for small business customers. Additionally, Comerica has invested $100,000 in the Network for Teaching Entrepreneurship to support entrepreneurship education for under-resourced communities.
The company's financial health is robust, with quarterly financial results showing consistent growth. Comerica is also active in community service, hosting events like Shred Day to promote sustainability and fight hunger through partnerships with organizations such as Gleaners Community Food Bank.
For more information, visit Comerica's official website or follow them on social media platforms like Facebook, X (formerly known as Twitter), Instagram, and LinkedIn.
Comerica (NYSE: CMA) announced key financial decisions: a quarterly cash dividend of $0.71 per common share and a dividend of $1,406.25 per share on Series A Preferred Stock, both payable January 1, 2025. The Board approved an additional 10 million shares buyback authorization, supplementing the existing 5 million shares remaining from previous authorizations. The company, with $79.7 billion in total assets, operates through three segments: Commercial Bank, Retail Bank, and Wealth Management, serving 14 of the 15 largest U.S. metropolitan areas with nearly 380 banking centers across the country.
Comerica Bank's BusinessHQ™ program has been recognized by the American Bankers Association (ABA) with a Community Commitment Award in the category of Community & Economic Development. The program, launched in 2023, serves as a collaborative business resource center for small businesses and nonprofits in Southern Dallas. BusinessHQ offers free workspaces, high-speed Wi-Fi, and various services to support local entrepreneurs.
Key achievements of the program include:
- 3,713 people served through programming
- $118,102 in no-cost coworking provided
- 528 hours of CRA technical assistance programming
- 199 total programs hosted
- 250 small business owners and non-profit members onboarded
The ABA Foundation Community Commitment Awards recognize banks for their extraordinary acts of service in supporting their communities and growing local economies.
Comerica Incorporated (NYSE: CMA) has released its third quarter 2024 financial results. The detailed report is available on the company's Investor Relations website and will be filed with the SEC on Form 8-K. Comerica has scheduled a conference call to discuss the results on Friday, October 18, 2024, at 7 a.m. CT / 8 a.m. ET.
Interested parties can access the call via phone at (877) 484-6065 or (201) 689-8846. A live audio webcast, earnings release, and presentation will also be available on Comerica's website. The company's presentation may include forward-looking statements.
Comerica Bank and the Grand Rapids Griffins are partnering for a four-week food drive from Sept. 24 to Oct. 17 to support Kids' Food Basket (KFB) in West Michigan. Donors can earn ticket vouchers for Griffins' 2024-25 home games by dropping off non-perishable items from KFB's Wish List at participating Comerica banking centers. The initiative aims to reduce food insecurity and help nourish children to reach their full potential.
Last year's collaboration resulted in over 3,300 food items donated and $15,000 in charitable contributions. KFB serves about 10,000 meals daily to 60 schools across four counties. Since 2020, Comerica has contributed $43,500 to KFB's efforts. The total amount collected will be announced at the Griffins' game on Oct. 18.
Comerica Bank and the Detroit Lions are continuing their First Down Program for the eighth consecutive year, supporting local nonprofits during the 2024 NFL season. For every Lions first down at Ford Field, Comerica donates $100 to a selected organization. The program will benefit nine different nonprofits throughout the season, starting with ACCESS during the home opener against the Los Angeles Rams.
The Lions' offensive success in recent years has significantly boosted the program's impact. Since 2017, Comerica has contributed approximately $133,000 to about 35 local organizations through this initiative. In 2022, the program reached a milestone of 1,000 first downs, generating $100,000 for local charities.
This partnership aligns with Comerica's 175th anniversary of serving Michigan communities, highlighting its commitment to supporting local initiatives and fostering positive community impact.
Comerica Incorporated (NYSE: CMA) has announced its participation in the 2024 Barclays Global Financial Services Conference on Tuesday, Sept. 10, 2024. The company's presentation will begin at 8 a.m. CT / 9 a.m. ET. Key participants include Curt Farmer (Chairman, President and CEO), James Herzog (CFO), Peter Sefzik (Chief Banking Officer), and Kelly Gage (Director of Investor Relations).
Additionally, Comerica has scheduled its third quarter 2024 earnings call for Friday, Oct. 18, 2024. Investors can access the live audio webcast and presentation slides for both events on Comerica's Investor Relations Presentations and Events page at www.comerica.com.
Comerica Bank (NYSE: CMA) has officially opened its Great Lakes Campus in Farmington Hills, Michigan, marking a significant milestone in the bank's 175-year history. The 340,000-square-foot facility serves as Comerica's largest operations center, housing approximately 2,000 colleagues. The campus features state-of-the-art collaboration spaces, advanced technology, and employee-focused amenities. It reflects Comerica's commitment to Southeast Michigan and its vision for the future.
The campus includes two main buildings connected by a newly-constructed 21,000-square-foot Connector. It offers collaborative workspaces, wellness rooms, a fitness center, and a Tech Café. The design incorporates Comerica's core values and rich history as Michigan's longest-standing bank. As part of the opening celebration, Comerica made donations totaling $17,500 to local community organizations.
Comerica Bank is supporting the Belle Isle Aquarium with a $10,000 contribution, enabling free access every Thursday in August and aiding in building restoration. The bank's assistance includes supporting the Belle Isle Conservancy's 120th-anniversary celebration on August 18 and organizing a park cleanup on August 10 through its Comerica Cares volunteer program.
The aquarium, recently ranked as America's most beautiful, will extend its hours to 10 a.m. - 4 p.m., Thursday through Sunday until August 29. This initiative aligns with Comerica's community commitment, having contributed over $49 million to philanthropic organizations since January 2019, with employees volunteering more than 320,000 hours.
As Comerica celebrates its 175th anniversary, this partnership underscores its long-standing dedication to Detroit's community and historical landmarks.
Comerica Incorporated (NYSE: CMA) has declared quarterly dividends for both common and preferred stockholders. Common stock shareholders will receive $0.71 per share, payable on Oct. 1, 2024, to those on record as of Sept. 13, 2024. Preferred stock shareholders will receive $1,406.25 per share ($14.0625 per depositary share) on the same dates.
Comerica Bank, a subsidiary of Comerica Incorporated, is celebrating its 175th anniversary this year. Founded in 1849 in Detroit, it has grown into one of the 25 largest commercial U.S. financial holding companies. The bank operates 380 banking centers across Arizona, California, Florida, Michigan, and Texas, with recent expansions into North Carolina and Colorado. Comerica reported total assets of $79.6 billion as of June 30, 2024.
Comerica Incorporated (NYSE: CMA) has released its second quarter 2024 financial results. The detailed report is available on Comerica's Investor Relations website and will be filed with the SEC on Form 8-K. Comerica will host a conference call on Friday, July 19, 2024, at 7 a.m. CT / 8 a.m. ET to review the results. Interested parties can access the call via phone or webcast. The live audio webcast, earnings release, and presentation will be accessible on Comerica's website. While specific financial figures are not provided in this announcement, investors and analysts can expect a comprehensive overview of Comerica's performance during the earnings call.
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