Comerica Bank (CMA) is planning to expand its existing middle-market commercial banking operations at its Dallas headquarters.
The new, nine-person division will complement Comerica's three existing middle market groups that largely focus on the North Texas market, the $65 billion-asset company said in a news release Monday.
Texas has a thriving and diverse middle-market community, said J. Patrick Faubion, the banks Texas market president. "As confidence in the economy builds," Comerica plans to assist firms from various industries "in investing in future growth."
The new commercial banking group will serve commercial and industrial companies with annual revenues between $20 and $500 million. At Dec. 31, loans to middle market firms represented more than 70% of Comerica's commercial loans, the company said.