News Topic: Comerica Bank

The Dallas company finally made the move that had long been expected: Curtis Farmer succeeds Ralph Babb as chief executive. However, Farmer will still report to Babb, who stays on as executive chairman. ... Read full article

The Dallas company beat earnings estimates even as it reported declines in deposits, total loans and fee income. ... Read full article

The senator wants Treasury to enhance fraud protection in the Direct Express prepaid program — now a partnership with Comerica Bank — when its contract is rebid in 2020. ... Read full article

The industry saw some well-known executives step down from their roles or take on new ones during the past month. ... Read full article

The Dallas bank inherited the five Bank of the Hills branches when it acquired Sterling Bancshares in 2011. ... Read full article

The Dallas bank has picked a bad time to shift from cost-cutting to expansion as big banks are in a commercial ending funk. ... Read full article

The Dallas company reported a 41% increase in 3Q earnings despite lackluster performances in lending, deposits and fee income. ... Read full article

In hundreds of cases, the prepaid card program run by the bank allegedly sent users’ funds to fraudsters who had stolen their data. The security lapse has now caught the attention of the Democratic senator. ... Read full article

The Texas bank, which partners with the U.S. Treasury to dispense federal benefits via prepaid cards, is alleged to have dropped the ball as hundreds of cardholders say their money was forwarded to fraudsters posing as them. ... Read full article

If President Trump’s tariffs on steel and other products stay in place long, big U.S. importers would be hurt and pass on the pain to their midsize and small-business suppliers — which are the bread and butter of commercial lending. ... Read full article

In addition to leading the company’s national business banking efforts, Peter Sefzik will also oversee small-business banking. Brian Foley, the chief credit officer for the Texas market, will succeed him as market president. ... Read full article

Comerica faced aggressive questioning Tuesday about how it could use freed-up capital now that it’s no longer considered a systemically important financial institution. It won’t be the last small regional to get such a grilling this earnings season. ... Read full article

Declines in corporate banking and energy loans were part of the reason loan growth was light, but the Dallas bank reported strong earnings thanks heavily to fatter margins. ... Read full article

SigFig was among an early crop of digital advice firms that shifted their focus to serving wealth managers and banks. It has raised more than $100 million from a variety of investors. ... Read full article

The divide highlights a lingering question about how much commercial and retail depositors value cutting-edge technology over price — and whether midsize banks can keep pace with bigger rivals when it comes to tech investments. ... Read full article

Profits soared at the Dallas bank as recent interest rate hikes and ongoing expense cuts outweighed weakness in the company’s loan book and in its fee income. ... Read full article

Look for banks to boost dividend payouts, expand into new markets, increase their tech spending and, eventually, ramp up their C&I lending. But don't expect much in the way of M&A. ... Read full article

Though business owners are more optimistic about the direction of the economy since the tax law was passed, it's doubtful their borrowing will increase meaningfully until they see more signs of more robust growth, bankers say. ... Read full article