| Market Capitalization (Millions $) |
8,841 |
| Shares
Outstanding (Millions) |
133 |
| Employees |
7,496 |
| Revenues (TTM) (Millions $) |
3,161 |
| Net Income (TTM) (Millions $) |
561 |
| Cash Flow (TTM) (Millions $) |
-1,719 |
| Capital Exp. (TTM) (Millions $) |
0 |
Comerica Incorporated
Comerica Incorporated is a financial services company with a long-standing history, incorporated under the laws of the State of Delaware and headquartered in Detroit, Michigan. Comerica has its roots in the acquisition of Comerica Bank, established in 1849, making it one of the oldest banks in Michigan. The current entity, Comerica Incorporated, was formed in 1973 primarily to acquire the outstanding common stock of Comerica Bank.
Business Structure
Comericas operations are strategically organized into three principal lines of business:
1. Business Bank:
- This division focuses on serving middle-market companies, commercial real estate, and large corporate clients.
- Products and services in this space include commercial loans, lines of credit, treasury management services, capital market products, international trade finance, and specialized lending such as technology and life sciences financing.
- It also caters to the needs of governmental entities and multinational corporations.
2. Small Business and Personal Financial Services:
- This segment targets small businesses (defined as those with annual sales under $10 million) as well as consumer banking.
- Services include consumer deposit accounts, mortgage loans, credit and installment loans, and lines of credit.
- Additionally, it provides a range of services tailored to small businesses and municipalities, ensuring that their banking needs are met.
3. Wealth and Institutional Management:
- This division includes personal banking, trust services, retirement planning, and asset management.
- Comerica Securities is part of this segment, offering brokerage and investment banking services.
- The division also encompasses Comerica Insurance, which provides a comprehensive range of insurance products.
Geographic Presence
Comerica has established its presence primarily in four strategic geographic markets:
- Michigan
- California
- Texas
- Florida
Beyond these primary markets, Comerica extends its operations into additional states across the U.S. as well as in Canada and Mexico, allowing for a diversified geographic footprint.
Competitive Landscape
The financial services industry, in which Comerica operates, is notably competitive. In its primary markets, Comerica competes against a plethora of financial institutions for loans, deposits, and trust accounts. Its extended presence across several states'including Arizona, Colorado, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Minnesota, North Carolina, New Jersey, Nevada, New York, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, and Washington'positions Comerica to engage in robust competition with local and national financial service providers.
In summary, Comerica Incorporated stands as a significant player in the financial services sector, characterized by a diversified business model and a strong geographic presence. The organization is well-equipped to meet the diverse financial needs of its varied clientele, ranging from individual consumers to large corporations and institutions.
Company Address: 1717 Main Street, MC 6404 Dallas 75201 TX
Company Phone Number: 571-0486 Stock Exchange / Ticker: NYSE CMA
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