Comerica

Comerica is a financial company located in the United States, specifically in Texas, and that offers its services nationally and internationally. It provides commercial, corporate, private, and retail banking to clients in general and institutions.

History

Elon Farnsworth founded this banking institution in 1849 under the name of the Detroit Savings Fund Institute. The bank offered its services to the workers and merchants of that time. In 1871, the name was changed to The Detroit Savings Bank and later, in 1936, to The Detroit Bank. During the financial crisis in World War II, all bank employees (male) enlisted for the war. The women took their place in the institution. At that time, under the leadership of Joseph M. Dodge (Bank President), he worked with the German and Japanese government to rebuild the economy.

In 1956, it was further consolidated by merging with the Birmingham National Bank, the Ferndale National Bank, and the Detroit Wabeek Bank & Trust Company to form the Detroit Bank & Trust. In 1980, it changed its name to Comerica Incorporated. During the 1980s, it established more branches in the United States, specifically in Texas and California. Comerica merged with Manufacturers National Corporation in 1992, which was its rival in the market.

To be located in a more centralized place, in 2007, the bank relocated its headquarters (Comerica Bank Tower today) in Dallas, Texas.

Routing Number

The routing number is usually used to identify a banking institution. It is generally made up of 9 digits, and on occasions, it is called the ABA or RTN route number:

  • Arizona, California: 121137522.
  • Florida: 067012099.
  • Michigan: 072000096.
  • Texas: 111000753.

Number of Employees

Comerica has a total of 8,190employees.

Rating

It is used to determine a long-term risk for a debt. Normally, Moody’s, S&P, and Fitch agencies are responsible for placing the score.

Comerica has a rating of:

  • S&P = BBB+.
  • Moody’s = A3.
  • Fitch = A.

BBB+ (S&P Global) = It means a medium level, but they are in a good situation.

A3 (Moody’s) = It refers to a medium-high quality, low credit risk, but with elements that suggest a susceptibility to long-term deterioration.

A (Fitch) = It has high solvency capacity and low risk of default.

Headquarters

The headquarters of Comerica is located in Dallas, Texas, USA.

Website

The bank’s website can be accessed through this URL: http://comerica.com

Services

  • Personal banking: It offers services and products to people in general. It includes savings and investment accounts, home loans, credit and debit cards, online banking, checking accounts, and more.
  • Business banking: It provides international and corporate services, business loans, business savings, bill payments, financing, deposits, transfers, credit card processing, and more.
  • Wealth management: The bank allows fiduciary and equity solutions, investment advice, loans, retirement considerations, investment management, and insurance.

Contact

  • Address: 1717 Main Street Dallas, Texas.
  • Phone Number: Customer service: 800.266.3742 (Eastern Time Zone), 800.925.2160 (Central Time Zone), 800.522.2265 (Mountain / Pacific Time Zone).