Comerica Bank opens offices in E.V., looks to add more - East Valley Tribune: Business

Comerica Bank opens offices in E.V., looks to add more

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Posted: Tuesday, February 7, 2006 5:39 am | Updated: 3:41 pm, Fri Oct 7, 2011.

Comerica Bank has quietly opened three banking centers in the Valley, including offices in Mesa and Scottsdale, and plans to open more by year’s end.

The Michigan-based bank has targeted Arizona and the Valley in its ongoing strategy to expand across the Southwest. It started with a business-lending office in downtown Phoenix and has expanded into retail banking with offices in Mesa, Scottsdale and Phoenix.

In the last 90 days, Comerica has hired 52 people to staff its local offices and will be hiring another 60 people by the end of the year, said Meredith Russell, Comerica’s Arizona regional president. It now has 80 employees in the Valley.

The bank’s primary Arizona office is at 1 N. Central Ave. in downtown Phoenix. It plans to open a new retail banking center at that address.

It’s East Valley offices are at 1825 N. Val Vista Drive in Mesa and 14801 N. Scottsdale Road in Scottsdale.

“We’re very upbeat about the market and the growth of the market obviously,” Russell said. “The offices are in wellestablished areas with great demographics, growing population and growing business communities. Other locations will be in the newer areas with strong demographics as far as traffic counts and households.”

In addition to the retail center in downtown Phoenix, Comerica plans to open an office on Shea Boulevard east of Scottsdale Road this summer, as well as an office at Tatum Boulevard and Cactus Road in October.

“Both of those sites we’re looking forward to this year and we’re continuing to look for other sites in the southeast Valley as well as the west Valley,” Russell said.

There’s plenty of room for more bank branches in the Valley, where there are 1,600 households per bank branch, compared to the national average of 1,200 households per bank branch, he said.

“As long as the population demographics continue to grow, we will continue growing,” Russell said.

In addition to opening more locations in Arizona, Comerica plans to open 10 more offices in California, said Mike Fulton, president and CEO of Comerica’s western market.

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