Printer Friendly

COMERICA BANK & MANUFACTURERS BANK TO CONSOLIDATE OVERLAPPING BRANCHES, WILL MAINTAIN 191 BRANCHES IN TRI-COUNTY AREA

COMERICA BANK & MANUFACTURERS BANK TO CONSOLIDATE OVERLAPPING BRANCHES,
 WILL MAINTAIN 191 BRANCHES IN TRI-COUNTY AREA
 DETROIT, July 29 /PRNewswire/ -- Comerica Bank and Manufacturers Bank today announced they have identified 55 Michigan branches, serving the same neighborhoods, that will be consolidated over the next 1 1/2 years. (A list of the branches to be consolidated follows.)
 The combined banks will have one of the state's largest branch networks, with more than 290 branches, following completion of the consolidation. Comerica Bank also will have the largest branch network in the tri-county area, with 191 locations. The bank will maintain 49 branches in Detroit, ranking the new Comerica as the city's most extensive branch banking network, with 12 more locations than any other bank.
 The consolidation was one of several cost-saving initiatives identified last October, when the merger of Manufacturers National Corporation and Comerica Incorporated (NYSE: CMA) was announced. The two holding companies merged June 18, 1992. The banks, Manufacturers Bank, N.A., and Comerica Bank, will merge in September and will be called Comerica Bank. Customers of one bank may not conduct business at an office of the other until the bank merger is complete.
 "While 55 banks are being consolidated," said Michael T. Monahan, president of Comerica Bank, "our banks' merger will provide the typical new Comerica customer with more rather than fewer locations to do their banking."
 Comerica said it will spend more than $5 million on renovations to 30 branches. Renovations will include expanding the number of drive-up and teller windows, adding automated teller machines, increasing the amount of parking space available and updating the branches to provide easier access for handicapped customers. Branches will not be consolidated until the renovations are complete and the selected branch can accommodate its new customers. The selected branch will be staffed by employees from each of the combining branches so that customers will continue to see familiar faces. All branch employees have been assured they have positions.
 The consolidations will occur over an 18-month period to ensure that customer service is not affected. Most of the consolidations will occur in 1993, and customers will receive at least 90 days advance notification.
 OVERLAPPING BRANCHES TO BE CONSOLIDATED
 (C): Comerica Bank branch (M): Manufacturers Bank, N.A. branch
 TRI-COUNTY
 Detroit: Dearborn Heights:
 Bank Branch Location (C) Van Born-Beech Daly
 (C) Chene-Medbury(a) 4 branches remaining after
 (C) Eastern Market(a) consolidation
 (C) Edison Plaza
 (M) Eight Mile-Chapel Farmington/Farmington Hills:
 (C) Grand River-Wyoming (M) Grand River-Halsted
 (C) Gratiot-Mack(a) 6 branches remaining after
 (M) Gratiot-Pinewood consolidation
 (C) Harper-Grayton
 (C) Jefferson-Piper Grosse Pointe/Grosse Pointe
 (M) Kelly-Whittier Woods:
 (C) Moross-Harper (C) Mack-Kenmore
 (M) New Center One 4 branches remaining after
 (M) Plymouth-Evergreen consolidation
 (C) Renaissance Center
 (M) Shelby-Congress Harrison Township:
 (M) Sherwood-Outer Drive (M) Jefferson-Crocker
 (M) Six Mile-Hoover 1 branch remaining after
 (M) Washington Blvd.-Grand River consolidation
 (C) Warren-Prairie
 49(b) branches remaining after Livonia:
 consolidation (M) Ann Arbor Road-Ann Arbor
 Trail
 Birmingham: (M) Plymouth-Merriman
 (C) Woodward-Oakland (C) Six Mile-Newburgh
 3 branches remaining after 6 branches remaining after
 consolidation consolidation
 Bloomfield Township/ Novi:
 West Bloomfield Township: (M) Eight Mile-Haggerty
 (M) Adams-Square Lake (M) Novi-Grand River
 (M) 14 Mile-Farmington 2 branches remaining after
 (C) Woodward-Square Lake consolidation
 10 branches remaining after
 consolidation Rochester Hills:
 (M) Avon-Rochester
 Canton Township: 5 branches remaining after
 (M) Joy Road-Morton Taylor consolidation
 2 branches remaining after
 consolidation Shelby Township:
 (M) 23 Mile-Van Dyke
 Dearborn: 2 branches remaining after
 (C) Ford-Schaefer consolidation
 (C) Village Plaza
 (C) Warren-Hartwell
 9 branches remaining after
 consolidation
 Southfield:
 (M) Evergreen-Jeanette
 (M) Northland Point
 (M) Southfield-13 Mile
 (C) 10 Mile-Telegraph
 (C) 12 Mile-Evergreen
 (M) 2000 Town Center
 10 branches remaining after consolidation
 St. Clair Shores:
 (M) Harper-Statler
 2 branches remaining after consolidation
 Sterling Heights:
 (C) Lakeside Mall
 (C) Van Dyke-14 Mile
 10 branches remaining after consolidation
 Troy:
 (C) John R-Wattles
 7 branches remaining after consolidation
 Warren:
 (C) Hoover-Martin
 (C) 12 Mile-Gloede
 8 branches remaining after consolidation
 Westland:
 (M) Wayne-Warren
 5 branches remaining after consolidation
 OUTSTATE
 Ann Arbor area:
 (c) Downtown Ann Arbor
 12 branches remaining after consolidation
 Grand Rapids area:
 (c) Downtown Grand Rapids
 (c) Grandville
 (c) Plainfield
 15 branches remaining after consolidation
 (a) -- Prior to the merger, Comerica Bank announced that it would build a new branch into which these branches would be consolidated.
 (b) -- Includes two planned branch openings.
 (c) -- Site to be determined.
 -0- 7/29/92
 /CONTACT: Sharon McMurray, 313-222-4881, or Kathy Pitton, 313-222-4916, both of Comerica/
 (CMA) CO: Comerica Bank; Manufacturers Bank ST: Michigan IN: FIN SU: TNM


JG-SK -- DE004 -- 4462 07/29/92 09:35 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 29, 1992
Words:756
Previous Article:T. ROWE PRICE ASSOCIATES REPORTS SECOND QUARTER RESULTS
Next Article:LCS INDUSTRIES REPORTS SALES AND EARNINGS FOR ITS THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1992
Topics:


Related Articles
BANK SOUTH ANNOUNCES DELIVERY SYSTEM ENHANCEMENTS 'TOMORROW'S DELIVERY SYSTEM TODAY'
COMERICA BANK-TEXAS ACQUIRES FIDELITY NATIONAL BANK
COMERICA BANK TO CONSOLIDATE 16 BRANCHES, WILL MAINTAIN 186 BRANCHES IN TRI-COUNTY AREA, INCLUDING 45 DETROIT LOCATIONS
COMERICA TO OPEN SUPERMARKET BRANCHES IN 15 D&W STORES
COMERICA TO ACQUIRE METROBANK TO EXPAND ITS SOUTHERN CALIFORNIA PRESENCE
COMERICA TO ACQUIRE HOUSTON-BASED QUESTSTAR BANK, N.A.
U.S. Bancorp to Acquire Business & Professional Bank
Comerica to Open Its First ComeriMART in Birmingham
Peoples State Bank Announces Sale of Branch Office.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters