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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 Incorporated (NYSE: CMA) has appointed Tory Sherman as the Senior Vice President and National Director of Sales and Execution for Wealth Management, reporting to Greg Carr. Sherman aims to enhance growth initiatives and strengthen partnership execution within the enterprise. With over 25 years in the industry, he has held significant positions at Wells Fargo, leading teams to rapid growth. As of March 31, 2022, Comerica reported total assets of $89.2 billion.
Comerica Bank has expanded its Environmental Services Department (ESD) by launching a new Renewable Energy Solutions group, led by Matt Breight, to enhance its renewable energy business. This initiative builds on Comerica's experience in financing renewable energy projects, including solar and wind, alongside its established waste and recycling services. As of March 31, 2022, Comerica reported $1.8 billion in green loans, a 52% increase year-over-year. The bank aims to align credit resources and drive growth in green loans while maintaining its commitment to sustainability.
Comerica Incorporated (NYSE: CMA) appointed Dharmesh Patel as Executive Vice President, Director of Retail Business Services, effective May 3, 2022. Reporting to Cassandra McKinney, Patel will centralize Comerica's service areas, enhancing execution and performance. He has a robust banking background, previously serving as Operational Excellence and Transformation Executive at Truist Bank, and has over 12 years of experience at Ernst & Young. Comerica, headquartered in Dallas, reported total assets of $89.2 billion as of March 31, 2022, and is focused on customer relationships across multiple states.
Comerica Bank has appointed Sineria Ordóñez as the National Hispanic Business Development Manager, enhancing its commitment to serving Hispanic communities in five states: California, Texas, Michigan, Arizona, and Florida. Currently a Vice President, Ordóñez will collaborate with various internal teams to strengthen community ties and expand business relationships. With a focus on fostering new partnerships, she aims to support the growing Hispanic demographic. Comerica reported total assets of $89.2 billion as of March 31, 2022.
Comerica Incorporated (NYSE: CMA) has declared a quarterly cash dividend of $0.68 per share, payable on July 1, 2022, to shareholders of record by June 15, 2022. Additionally, a dividend of $1,406.25 per share on its Series A Preferred Stock is also set for payment on the same date. During its annual shareholder meeting, new directors were elected and Ernst & Young LLP was ratified as the independent auditor. As of March 31, 2022, Comerica reported total assets of $89.2 billion.
Comerica Incorporated (NYSE: CMA) announced its first quarter 2022 financial results on April 20, 2022. The results can be accessed on the company's Investor Relations website. Comerica will host a conference call on the same day at 7 a.m. CT to discuss its financial performance. The company's operations span across Texas, Arizona, California, Florida, and Michigan, and it serves clients in Canada and Mexico through its Commercial, Retail, and Wealth Management segments.
Comerica (NYSE: CMA) has invested over
Comerica Bank is launching its fourth Prom Dress Drive from March 28 to April 15, 2022, encouraging donations of dresses and accessories at selected locations in Metro Detroit. The initiative supports Hope Closet, a nonprofit that helps local high school students attend special events without financial barriers. Since 2017, Comerica has donated nearly 5,000 dresses, with the drive resuming after a hiatus due to the COVID-19 pandemic. Eleven bank centers will accept donations, fostering community support and providing young women with the opportunity for memorable experiences.
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