Comerica is among the twenty largest banking companies in the U.S. with $62.3 billion in total assets and $41.2 billion in total deposits as of 31 December 2007; it is the largest bank holding company headquartered in Texas. Comerica's operating units include corporate banking, small business banking and personal financial services.
In 1982, Comerica entered the Florida market. In 1983, it acquired its hometown rival Bank of the Commonwealth. It entered the Texas market in 1988 when it acquired Grand Bancshares. California was added to its footprint in 1991 when Plaza Commerce Bancorp and InBancshares were acquired.
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 1996, Comerica sold off its Illinois operation, which was acquired through its merger with Manufacturers, to ABN-AMRO Holdings. In 2000, Comerica sold its credit card division to MBNA. In 2001, it acquired Imperial Bank of California.
On 6 March 2007, Comerica announced its decision to relocate its corporate headquarters to Dallas, ending its reign of 158 years in Detroit. The decision was attributed to its long-term strategy of growth in the South and Southwest regions of the United States. The move was completed in August 2007 when Comerica moved into the 60-story 1717 Main in downtown Dallas. The building has since been renamed Comerica Bank Tower.
Comerica also owns the naming rights to the baseball stadium in downtown Detroit. In 1998, the bank paid $66 million over thirty years for the naming rights to Comerica Park, home to the Detroit Tigers of Major League Baseball.