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COMERICA INCORPORATED TO ACQUIRE TEXAS BANK

 COMERICA INCORPORATED TO ACQUIRE TEXAS BANK
 DETROIT, July 17 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA),


a Michigan-headquartered bank holding company, today reached a definitive agreement to acquire the $1 billion asset Hibernia National Bank in Texas for $63 million in cash. "This acquisition adds $485 million of deposits to our franchise in Dallas and establishes our entry into three new metropolitan markets in Texas," announced Gerald V. MacDonald, Comerica Incorporated chairman and chief executive officer.
 Comerica Bank-Texas, which currently operates 28 branches in the Dallas-Fort Worth area, will expand its services into Austin, Houston, and San Antonio with this acquisition of Hibernia Corporation's 23 Texas branches.
 The acquisition is subject to regulatory approval and final examination of the assets and liabilities of the bank, according to MacDonald. The acquisition is expected to be completed by year-end 1992. When operationally feasible the following year, the bank will be merged with Comerica's $1.3 billion asset Texas banking subsidiary.
 "This is a natural extension of our Texas franchise, allowing us to grow with a diverse economy," said Charles L. Gummer, president of Comerica Bank-Texas. "The significant expansion of our Dallas-Fort Worth franchise is a strategic move that is part of our long-term plan. And, we gain a presence in three of the state's major metropolitan markets. Hibernia's Texas operation provides us an ideal opportunity."
 Comerica Bank-Texas offers consumer and private banking, while specializing in middle market and small business lending, corporate cash management and trust activities. Hibernia National Bank in Texas is similarly involved in small business and middle market lending, as well as consumer lending and trust activities.
 Comerica Bank-Texas has increased its assets from $475 million in 1988 to approximately $1.3 billion today. The Hibernia acquisition will increase Comerica's total Texas deposit base by $900 million with an addition of 11 branches in Dallas, five branches in Austin, five in Houston and two in San Antonio.
 "We have a solid financial base, but our greatest strength, and the foundation for our success, is that we believe in making a commitment to our customers, and build strong relationships with them in every community we serve," Gummer concluded.
 Comerica Incorporated has assets of approximately $26 billion and, in addition to Texas, operates banks in Michigan, Illinois, California and Florida.
 -0- 7/17/92
 /CONTACT: (Media) Michael Maurer, 313-222-4732, or Joseph Goyne, 214-841-1401, or (Analysts) Len Carleton, 313-222-4940, or Judith Hicks, 313-222-6317, all of Comerica/
 (CMA HIB) CO: Comerica Incorporated; Hibernia National Bank ST: Michigan, Texas IN: FIN SU: TNM


ML -- DE020 -- 0410 07/17/92 16:49 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
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