LOS ANGELES, March 1 /PRNewswire-FirstCall/ -- Comerica Bank today announced it is continuing its expansion in Southern California with the opening of three banking centers - in Lake Forest, South Huntington Beach, and Brea - by April 1.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
The newest Comerica Bank banking center, in Lake Forest, opened Feb. 21. Two additional new banking centers also will open this month in South Huntington Beach and Brea.
In early 2004, there was one Comerica Bank location in Orange County. The addition of these three new offices will result in a total of 11 full-service banking centers throughout Orange County.
"Opening banking centers in Orange County is part of our long-term strategy that focuses on serving the growing numbers of business banking, small business, wealth management, and retail customers in the region," said David White, Southern California regional president of Comerica Bank's Western Market. "We are expanding our presence in several growth markets in California, especially in Orange County, building on our strengths in relationship banking, and adding new access points and new products and services."
In addition to the Comerica banking centers in Orange County, the bank's Costa Mesa office is the home of Western Market operations for commercial real estate, international finance and small business banking, as well as Southern California offices for SBA lending and the Retail Bank.
Comerica Bank anticipates there will be at least 80 Comerica banking centers in California by January 2008, nearly doubling the bank's California presence in less than four years. Comerica Bank, one of the 25 largest banking companies in the U.S., has 397 banking centers is six states.
In Orange County:
- Lake Forest Banking Center, which opened Feb. 21, is located at 23718 -
B El Toro Road, Lake Forest. The manager is Ehsan Jahangiri.
- South Huntington Beach Banking Center, scheduled to open in March, is
located at 10111 Adams Avenue, Huntington Beach. The manager is
Theodore Nguyen.
- Brea Banking Center, scheduled to open in March, is located at 2500
East Imperial Hwy, Ste. 190, Brea. The manager is Nan Bicker.
Comerica Bank has announced plans to increase the pace of its banking center expansion and its business-line diversification in fast-growing markets like California, Arizona, Texas and Florida over the next four years. By the end of 2010, the bank anticipates more than half of its banking centers will be located in the Western and Sun Belt markets.
About Comerica Bank
The Western Market of Comerica Bank includes 76 retail banking centers in two states, California and Arizona, as of Feb. 21: 71 in the key California markets of San Francisco and the East Bay, San Jose, Los Angeles, Orange County, San Diego, Fresno, Sacramento, and Santa Cruz/Monterey; and five banking centers in greater Phoenix, Ariz.
In the fourth quarter of 2006, the bank's Western Market generated 43 percent of the net operating income for Comerica Incorporated, on approximately $16.7 billion in assets at December 31, 2006.
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 $58.0 billion at December 31, 2006. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts. (Or, for more information, go to http://www.comerica.com/.)
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Alfredo Padilla of Comerica Bank, +1-310-297-3093, or cell,
+1-213-804-1323, or aepadilla@comerica.com
Web site: http://www.comerica.com/
http://www.comerica.com/newsalerts
