Comerica Inc
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Financials : Banks | Mid Cap Blend
Company profile

Comerica Incorporated is a financial holding company. Its Commercial Bank segment serves small and middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services. Retail Bank segment includes a range of personal financial services, consisting of consumer lending, consumer deposit gathering and mortgage loan origination. The segment also offers a subset of commercial products and services to micro-businesses. Wealth Management segment offers products and services consisting of fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. Finance segment includes the securities portfolio and asset and liability management activities.

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Comerica Bank Recognized as One of the 50 Most Community-Minded Companies in the United States for Seventh Consecutive Year

10:05 am ET June 16, 2022 (PR Newswire) Print

Comerica Bank has been named a 2022 honoree of The Civic 50 by Points of Light, the world's largest organization dedicated to volunteer service, in recognition of its support for local communities.

https://mma.prnewswire.com/media/1840707/Points_Of_Light__The_Civic_50.jpg

For 10 years, The Civic 50 has provided a national standard for corporate citizenship and showcases how companies can use their time, skills, and resources to drive social impact in their communities, as well as within their own companies. The Civic 50 honorees are companies with annual U.S. revenues of at least $1 billion that are selected based on four dimensions of their corporate citizenship and social impact programs - investment of resources, integration across business functions, institutionalization through policies and systems and impact measurement.

"Comerica has a long history of taking action to help strengthen our communities and this recognition is a testament to that effort," said Irvin Ashford, Jr., Chief Community Officer. "Comerica and our colleagues continue to share in our mission of supporting the communities we serve, and we look forward to identifying new ways in which we can help make a difference."

Comerica and its nearly 7,500 colleagues across Texas, Michigan, California, Arizona and Florida made a difference supporting communities in multiple ways throughout 2021, which included:

-- Supporting business needs and community service organizations, Comerica and the Comerica Charitable Foundation pledged $16 million in 2021 as part of its ongoing COVID-19 relief efforts. Combined with the 2020 contribution, more than $27 million was provided to help small businesses and community organizations recover from the financial burdens created by the pandemic.

-- Contributing more than 64,000 hours of volunteer time in 2021, equating to more than $1.8 million donated to area nonprofits.

-- Sharing the importance of financial education through 380 small business bootcamps and reaching approximately 50,000 individuals from low- to moderate-income communities through Comerica $ense financial education programs.

The Civic 50 survey is administered by True Impact and consists of quantitative and multiple-choice questions that inform the scoring process. The Civic 50 is the only survey and ranking system that exclusively measures corporate involvement in communities.

To view the full report and see the complete list of The Civic 50 2022 honorees, visit www.pointsoflight.org/the-civic-50.

Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $89.2 billion as of March 31, 2022.

About Points of Light

Points of Light is a nonpartisan, global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world. We envision a world in which every individual discovers the power to make a difference, creating healthy communities in vibrant, participatory societies. Through 177 affiliates across 38 countries, and in partnership with thousands of nonprofits and corporations, Points of Light engages 5 million volunteers in16 million hours of service each year. We bring the power of people to bear where it's needed most. For more information, visit www.pointsoflight.org.

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SOURCE Comerica Bank

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