Comerica Bank (NYSE: CMA) was founded in 1849 as the Detroit Savings Bank in Detroit, Michigan. It was one of the few banks in the Detroit area to make it through the Great Depression, and the company grew over the years, both organically and through mergers and acquisitions. The Detroit Savings Bank become the Detroit Bank in 1936, then the Detroit Bank & Trust in the 1950s, and finally Comerica Bank in 1982. Comerica still maintains a strong presence in Detroit - the Detroit Tigers play in Comerica Park, in fact - but in the last 2000s the company relocated its headquarters to Dallas, Texas.
As of this writing, Comerica Bank is the 35th largest bank in the United States with around $65 billion in assets. The bank primarily operates in Arizona, California, Florida, Michigan, and Texas, although it does have business units that operate out of other states and internationally in Canada and Mexico.
Comerica Bank breaks its offerings into three distinct categories - Personal, Business, and Wealth Management. Since RateZip is mostly focused on consumer rates, we will mainly cover Comerica's "Personal" offerings, which appeal more to individual consumers, instead of Business and Wealth Management which appeal to corporations or individuals who need banking services above and beyond conventional banking products.
First and foremost, Comerica offers products such as savings accounts, checking accounts, certificates of deposit (CDs), and ATM / credit cards. Consumers can apply for any of these accounts via the company's website, and Comerica's online banking platform makes managing these accounts simple. Next is the company's borrowing division, which includes home loans and personal / student loans. Comerica's mortgage arm offers purchase and refinance loans, along with home equity and home improvement loans. You can also view Comerica's mortgage rates at the company's website.
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