Bailout Bank Bio: Comerica Incorporated

Jan 27, 2009 | 2 min read | Print Article

Comerica Incorporated is a financial holding company, providing financial products and services throughout North America. As of the end of 2007, Comerica Incorporated, through its banking affiliates, operated approximately 482 banking centers, trust services locations, and loan production or other financial services offices primarily in the states of Texas, Michigan, California, and Florida. The company is headquartered in Dallas, Texas.

Despite the recent economic troubles, Comerica remains profitable, largely because it refused to offer subprime loans. In the third quarter of 2008, Comerica produced a net income of $28 million. Through the Treasury’s Capital Purchase Program, Comerica will receive $2.25 billion in exchange for 2.25 million shares of the company’s preferred stock.

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Bailout Bank Bio: Comerica Incorporated


Federal Equity Investment	$2.25 billion
Total Revenue	$4.62 billion (2007) $3.94 billion (2008)
Net Income	$686 million (2007) $213 million (2008)
Number of Employees	10,347
Corporate Headquarters	Dallas, Texas
Business Sector	Financial
Officers and Directors	Babb, Ralph, Chairman of the Board, President, Chief Executive Officer Buttigieg, Joseph, Vice Chairman of the Board Acton, Elizabeth, Chief Financial Officer, Executive Vice President Other Officers and Directors
Corporate Website	http://www.comerica.com
Executive Compensation	Comerica Incorporated