Comerica employs 11,600 people and is the largest bank holding company headquartered in Texas. Comerica’s operating units include corporate banking, small business banking and personal financial services.

Brief History

Comerica was founded in Detroit by Elon Farnsworth in 1849 as the Detroit Savings Fund Institute.
The company’s name changed to The Detroit Savings Bank in 1871 and to simply The Detroit Bank in 1936, being one of the few area banks to survive the Great Depression. The current name was adopted in 1982.
Comerica entered the Florida market and Texas market in 1982 and 1988 respectively by acquiring major banks.

Recent History

In 1992, Comerica merged with Manufacturers National Corporation. Both banks were approximately the same size in assets ($14.3 billion and $12.5 billion, respectively) and employees (7,000 and 6,000).

The headquarters of the merged bank was relocated to the newly constructed Comerica Tower at Detroit Center in downtown Detroit in 1993.
In January 2008, Comerica was selected by the Department of the Treasury as the financial agent for its Direct Express debit card program.