Comerica (NYSE:CMA) is a banking and financial services company based in Dallas, TX. It holds $59.25 billion in assets, $42.16 billion in loans, and $39.67 billion in deposits. The company has over 9,000 employees and over 440 banking offices. Comerica delivers financial services in four primary geographic markets: Michigan/Midwest, California/West, Texas, and Florida. It also has substantial operations in Arizona, as well as branches in Canada and Mexico.
Net interest income constituted roughly 60% of its revenues in 2009, while service charges on deposits, fiduciary income, and other non-interest sources represented the remainder. Comerica was negatively impacted by the 2008 financial crisis and elected to participate in the U.S. Treasury TARP Capital Purchase Program beginning in November 2008 by selling $2.25 billion in preferred stock to the Treasury. It left the program in March 2010 by repurchasing the preferred shares with a combination of cash from retained earnings and the proceeds from issuing $880 million in new common stock. The company relocated its headquarters to Dallas, Texas in 2009 to position itself in a more central location relative to its fastest-growing business regions and due to comparatively strong economic performance in the region. Comerica was founded in 1849 in Michigan, where the majority of its branches are still located.(Read more at Wikinvest )