DALLAS, Nov. 8, 2011 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) today announced that it has submitted a
redemption notice to the trustee of Sterling Bancshares Statutory
Trust One, which will result in the redemption on December 31, 2011 of all $20,000,000 of the floating rate capital
securities issued by Sterling Bancshares Statutory Trust One at
par, plus accrued and unpaid distributions to the redemption date.
In addition, Comerica announced that it has submitted a redemption
notice to the trustee of BOTH Capital Trust I, which will result in
the redemption on January 7, 2012 of
all $4,000,000 of TP Securities
issued by BOTH Capital Trust I at par, plus accrued and unpaid
distributions to the redemption date. The securities are
callable under their existing arrangements. The redemptions
will be funded with existing available cash.
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Comerica Incorporated is a financial services company
headquartered in Dallas, Texas,
and strategically aligned by three business segments: The Business
Bank, The Retail Bank, and Wealth Management. Comerica focuses on
relationships, and helping people and businesses be successful. In
addition to Texas, Comerica Bank
locations can be found in Arizona,
California, Florida and Michigan, with select businesses operating in
several other states, as well as in Canada and Mexico. Comerica reported total assets of
$60.9 billion at September 30, 2011. To receive e-mail alerts of
breaking Comerica news, go to
http://www.comerica.com/newsalerts.
Forward-looking Statements
Any statements in this news release that are not historical
facts are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Words such as
"anticipates," "believes," "feels," "expects," "estimates,"
"seeks," "strives," "plans," "intends," "outlook," "forecast,"
"position," "target," "mission," "assume," "achievable,"
"potential," "strategy," "goal," "aspiration," "opportunity,"
"initiative," "outcome," "continue," "remain," "maintain," "trend,"
"objective," "looks forward" and variations of such words and
similar expressions, or future or conditional verbs such as "will,"
"would," "should," "could," "might," "can," "may" or similar
expressions, as they relate to Comerica or its management, are
intended to identify forward-looking statements. These
forward-looking statements are predicated on the beliefs and
assumptions of Comerica's management based on information known to
Comerica's management as of the date of this news release and do
not purport to speak as of any other date. Forward-looking
statements may include descriptions of plans and objectives of
Comerica's management for future or past operations, products or
services, and forecasts of Comerica's revenue, earnings or other
measures of economic performance, including statements of
profitability, business segments and subsidiaries, estimates of
credit trends and global stability. Such statements reflect the
view of Comerica's management as of this date with respect to
future events and are subject to risks and uncertainties. Should
one or more of these risks materialize or should underlying beliefs
or assumptions prove incorrect, Comerica's actual results could
differ materially from those discussed. Factors that could
cause or contribute to such differences are changes in general
economic, political or industry conditions and related credit and
market conditions; changes in trade, monetary and fiscal policies,
including the interest rate policies of the Federal Reserve Board;
adverse conditions in the capital markets; the interdependence of
financial service companies; changes in regulation or oversight,
including the effects of recently enacted legislation, actions
taken by or proposed by the U.S. Treasury, the Board of Governors
of the Federal Reserve System, the Texas Department of Banking and
the Federal Deposit Insurance Corporation, legislation or
regulations enacted in the future, and the impact and expiration of
such legislation and regulatory actions; unfavorable developments
concerning credit quality; the acquisition of Sterling Bancshares,
Inc., or any future acquisitions; the effects of more stringent
capital or liquidity requirements; declines or other changes in the
businesses or industries in which Comerica has a concentration of
loans, including, but not limited to, the automotive production
industry and the real estate business lines; the implementation of
Comerica's strategies and business models, including the
anticipated performance of any new banking centers and the
implementation of revenue enhancements and efficiency improvements;
Comerica's ability to utilize technology to efficiently and
effectively develop, market and deliver new products and services;
operational difficulties or information security problems; changes
in the financial markets, including fluctuations in interest rates
and their impact on deposit pricing; the entry of new competitors
in Comerica's markets; changes in customer borrowing, repayment,
investment and deposit practices; management's ability to maintain
and expand customer relationships; management's ability to retain
key officers and employees; the impact of legal and regulatory
proceedings; the effectiveness of methods of reducing risk
exposures; the effects of war and other armed conflicts or acts of
terrorism and the effects of catastrophic events including, but not
limited to, hurricanes, tornadoes, earthquakes, fires, droughts and
floods. Comerica cautions that the foregoing list of factors is not
exclusive. For discussion of factors that may cause actual results
to differ from expectations, please refer to our filings with the
Securities and Exchange Commission. In particular, please refer to
"Item 1A. Risk Factors" beginning on page 16 of Comerica's Annual
Report on Form 10-K for the year ended December 31, 2010, "Item 1A. Risk Factors"
beginning on page 65 of Comerica's Quarterly Report on Form 10-Q
for the quarter ended March 31, 2011,
"Item 1A. Risk Factors" beginning on page 74 of Comerica's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 and "Item 1A. Risk Factors"
beginning on page 81 of Comerica's Quarterly Report on Form 10-Q
for the quarter ended September 30,
2011. Forward-looking statements speak only as of the date
they are made. Comerica does not undertake to update
forward-looking statements to reflect facts, circumstances,
assumptions or events that occur after the date the forward-looking
statements are made. For any forward-looking statements made in
this news release or in any documents, Comerica claims the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of
1995.
SOURCE Comerica Incorporated