Welcome to our dedicated page for Comerica Incorporated news (Ticker: CMA), a resource for investors and traders seeking the latest updates and insights on Comerica Incorporated stock.
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 its plans for a new Business & Innovation Hub in Frisco, Texas, set to open between late 2023 and early 2024. This hub will be located in a new office tower at The Star and will accommodate around 300 employees across various teams. The development emphasizes collaboration and enhanced technology, including an innovation center. This strategic expansion aims to better meet customer needs and attract top talent while complementing the existing headquarters in Dallas. Total assets reported as of June 30, 2022, stood at $86.9 billion.
Comerica Bank and the Detroit Lions are set to surpass $100,000 in total community support through the Comerica Bank Lions First Down Program during the 2022 NFL season. Each Lions first down at Ford Field earns $100 for local nonprofits, marking the 1,000th first down contribution since the program's inception. This season features 10 organizations receiving support, with a total of $89,900 having been contributed since 2017. The initiative emphasizes community impact and long-lasting partnerships.
Comerica Incorporated (NYSE: CMA) has appointed Von E. Hays as Executive Vice President and Chief Legal Officer – General Counsel, effective August 26, 2022. Hays, who was serving as interim Chief Legal Officer since May 2022, has a rich background of over 15 years with Comerica and extensive experience in private practice. He will report to Curt Farmer, the company's Chairman and CEO. Comerica operates in several states and reported total assets of $86.9 billion as of June 30, 2022.
Comerica Incorporated (NYSE: CMA) announced the appointment of Kelly Gage as Senior Vice President, Director of Investor Relations, effective Sept. 1, 2022. She succeeds Darlene Persons, who will retire on April 1, 2023. Gage, a long-time employee, has extensive knowledge of the company and its strategy, and she will focus on articulating Comerica's value proposition to investors. Comerica reported total assets of $86.9 billion as of June 30, 2022.
Comerica (NYSE: CMA) will participate in the Barclays Global Financial Services Conference on Sept. 13, 2022, at 11 a.m. CT. Key executives including CEO Curt Farmer and CFO Jim Herzog will represent the company. Additionally, the third quarter 2022 earnings call is scheduled for Oct. 19, 2022, at 7 a.m. CT, with details available on the Investor Relations website. The company, based in Dallas, Texas, operates across several states and offers a range of financial services through its Commercial Bank, Retail Bank, and Wealth Management segments.
Comerica Incorporated (NYSE: CMA) has appointed Joe Ursuy as Executive Vice President for National Businesses focused on Energy, Renewables, and Waste. Reporting to Mike Ritchie, he will handle large relationships in recycling, renewable energy, and waste sectors. The Environmental Services Department, which Ursuy founded, has seen a 42% increase in green loans, totaling $2 billion as of June 30, 2022. Ursuy, a veteran with 24 years in financial services, holds degrees in economics and an MBA, emphasizing Comerica's commitment to sustainability and industry leadership.
Comerica Incorporated (NYSE: CMA) has appointed Linda Nosegbe as the new Vice President, National Community Impact Manager, reporting to Irvin Ashford Jr., Chief Community Officer. Nosegbe will lead initiatives focused on community impact investments, including support for Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs). In 2021, Comerica originated over 700 community loans totaling more than $2.5 billion aimed at affordable housing and economic development. With nearly 25 years in banking, Nosegbe has significant experience in community initiatives.
Comerica Incorporated (NYSE: CMA) has appointed Corey Bailey as Executive Vice President, Head of Middle Market & Business Banking, reporting to Peter Sefzik, Executive Vice President, Commercial Bank. This restructuring enhances Comerica's focus on its commercial lending businesses and recent expansions into North Carolina and Colorado. Bailey, a 25-year veteran of Comerica, will lead segments that offer various financial products nationwide, aiming to strengthen relationship banking and business solutions for clients.
Comerica Bank has promoted Mike Ritchie to Executive Vice President, Head of National and Specialty Businesses, and Steve Davis to Michigan Market President. Ritchie, a Comerica veteran since 1991, will leverage his 31 years of expertise to enhance national growth. Davis, who joined in 1992, will oversee business engagement in Michigan. Both leaders bring over 60 years of experience to their new roles, aiming to strengthen customer relationships and drive regional growth. Comerica continues to serve the Michigan market with a focus on community impact and its 173-year history.
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