SAN JOSE, Calif., Sept. 7 /PRNewswire/ -- Comerica Bank, one of the 25 largest banking companies in the U.S., announced today it is continuing the pace of its retail bank expansion in California, opening 10 banking centers in the next six months.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
Six of the new banking centers are in Southern California, and four are in Northern California, said Peg Rulien, national director of the bank's retail expansion.
Comerica opened four new banking centers from June through August in Southern California, and the opening next week of a new banking center in San Ramon in Northern California kicks off the next round of openings in the state. By early next year, she said Comerica Bank expects to have 70 banking centers in California. Just two years ago, the bank operated 42 banking centers in the state.
Rulien moved to California this month to manage the bank's banking center expansion, which is taking place primarily in California, Arizona and Texas, from her office in downtown San Jose.
"The expansion of banking centers that we began in late 2004 has yielded positive results -- for the bank and for our growing customer base -- as California's economy continues to grow," said Mike Fulton, president and chief executive officer of the bank's Western Market. "Our strategy of locating clusters of new offices in the state's key metropolitan areas is continuing."
Rulien said examples of Comerica's new banking center "clusters" in 2006 are: three new offices scheduled to open on the San Francisco peninsula, two north of San Diego, three in Los Angeles, and three in Orange County.
"By getting closer to our customers, we can build stronger relationships, offering consumers and small-business owners a wide range of loan, deposit and other banking services" she said.
These new banking centers will be opening in the next six months:
* Northern California - Burlingame, Millbrae, San Ramon, South San
Francisco
* Southern California - Anaheim, Burbank, Carlsbad, Century City,
Hollywood, Tustin
Comerica's Western Market, which includes California and Arizona, in the second quarter of 2006 generated 32 percent of Comerica Inc.'s net income. The bank's Western Market reported $16.6 billion in assets at June 30, 2006.
To schedule an interview with Rulien or Fulton, call 408-556-5111. About Comerica Bank:
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Detroit strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people be successful. Comerica bank locations can be found in Michigan, California, Texas, Florida and Arizona, with select businesses operating in several other states, Canada and Mexico. Comerica reported total assets of $57.1 billion at June 30, 2006. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Barry Holtzclaw, bholtzclaw@comerica.com, +1-408-556-5111,
+1-408-315-6554 - cell, or Alfredo Padilla, aepadilla@comerica.com,
+1-310-297-3093, +1-213-804-1323 - cell
Web site: http://www.comerica.com/
