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.
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.
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.
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.
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.