Comerica Incorporated - CMA STOCK NEWS

Comerica Incorporated (NYSE: CMA) announced its third quarter 2021 financial results on October 20, 2021. The results are accessible on its Investor Relations website. The company will hold a conference call on the same day at 7 a.m. CT to discuss these results, with access details provided. Comerica operates through three segments: Commercial Bank, Retail Bank, and Wealth Management, with locations primarily in Texas, Arizona, California, Florida, and Michigan. Additionally, Comerica has a presence in Canada and Mexico.

Comerica Bank has appointed Hassan Melhem as the External Affairs Manager for Southeast Michigan and National Middle Eastern American Business Development Manager, effective October 19, 2021. Melhem will focus on enhancing community reinvestment and establishing partnerships with Middle Eastern American nonprofits. He brings over 13 years of experience in procurement, including notable projects like the Gordie Howe Project. Comerica, with a history of over 172 years in Michigan, aims to strengthen community ties and support local businesses through this strategic appointment.

Comerica Bank will launch its gomerica Mobile Bank in Naples, Florida, on September 27, 2021. This mobile banking service aims to enhance accessibility for underbanked communities, featuring a Banker Connect Interactive Teller Machine (ITM) capable of live customer support. Operating hours include 1 to 4 p.m. for staff and 9 a.m. to 4:30 p.m. for the ITM. A ribbon-cutting ceremony is set for September 29. The initiative reflects Comerica's commitment to financial education and community support.

Comerica Bank's California Economic Activity Index rose to 118.3 in July, marking a 27.6% increase from its historical low in June 2020. This index has improved by 1.6% in July, reaching gains for the thirteenth consecutive month. Key sub-indexes showing growth include nonfarm employment and house prices. The index is expected to remain strong with a projected increase in August. However, challenges persist as federal unemployment benefits decline, though 111,000 net new jobs have been created monthly since February. International travel to the U.S. is set to resume in November.

Comerica Bank's Texas Economic Activity Index rose to 125.6 in July, a 0.2% increase after June's 1.9% gain. This marks the index's fifth consecutive month of growth, with July readings 26.6% above the low set in June 2020. Notably, seven out of nine sub-components showed growth, including nonfarm employment and housing starts. However, challenges remain with falling auto sales and decreased state sales tax revenues. The index is still slightly below February 2020's pre-COVID level of 126.2.

Comerica Bank's Michigan Economic Activity Index rose to 107.6 in July, marking a 25.4% increase from the historical low of 85.8 in June 2020. This is the eighth consecutive monthly gain, nearing the pre-COVID level of 109.2 from February 2020. Six out of nine sub-indices improved, including nonfarm employment and house prices. However, challenges persist with a tightening labor market and supply chain constraints. As of June 30, 2021, Comerica reported total assets of $88.4 billion.

The Comerica Bank Women’s Business Symposium will take place virtually on October 21, 2021. Registration is priced at $30. This event aims to empower women in business and supports nonprofits like Alternatives For Girls and Genesis Women's Shelter. Notable speakers include Liz Jenkins from Hello Sunshine and Col. Nicole Malachowski, a pioneer in aviation. With over 15 years of engagement, the symposium continues to provide valuable networking and developmental opportunities for women in various industries.