DALLAS, Oct. 26, 2020 /PRNewswire/ -- Comerica
Incorporated (NYSE: CMA) today announced that Beatrice Kelly joined the bank on Oct. 5 as the new Senior Vice President and
Director of Community Development Lending, reporting directly to
Peter Sefzik, Executive Vice
President, Commercial Bank.
In her new role, Kelly will be responsible for growing
Comerica's community development lending program.
"Beatrice's proven experience in connecting with and supporting
small businesses, nonprofits and philanthropic partners aligns with
our focus on cultivating relationships that assist our customers
and improve our communities," said Peter
Sefzik, Executive Vice President, Executive Director of
Commercial Bank. "Undoubtedly, she will strengthen collaborative
initiatives with our line of business leaders to establish
go-to-market strategy for Community Reinvestment Act (CRA) lending
across Comerica's footprint."
Kelly, an experienced veteran of the financial services
industry, rejoins Comerica following an eight-year tenure at Fifth
Third Bank. She was most recently the Director of Operations,
Community Development and Sustainability at Fifth Third Bank where
she was responsible for building and maintaining customized
partnerships that helped to advance their CRA-related activities.
Kelly also served in roles including Business Banking and CRA
lending and investments. Prior to that, Kelly spent 17 years at
Comerica where she held roles in Business Banking and Commercial
Bank Training & Recruiting.
Kelly has a Bachelor of Business Administration from
Davenport University and a Master of
Science Management from Walsh College.
She is currently enrolled in the ABA Stonier Graduate Banking
program at the University of
Pennsylvania. Kelly serves on the Community Reinvestment
Fund, USA, Advisory Committee,
Local Initiatives Support Corporation (LISC) Cincinnati Advisory
Board and is a member of the Delta Sigma Theta Sorority,
Incorporated.
"As we seek opportunities to further support community growth
and development, Beatrice's expertise will enable us to expand our
ability to deliver critical resources, such as much-needed
capital," said Comerica Bank Chief Community Officer Irvin Ashford, Jr. "Her leadership will help
entrepreneurs and small businesses, especially those from low- to
moderate-income communities, during a time when these communities
still face incredible challenges ahead."
Comerica has remained focused on meeting the needs of small
businesses impacted by COVID-19. Comerica's participation in the
Small Business Association Paycheck Protection Program (PPP), a
federal program designed to keep employees on payroll, offered
financial relief to thousands of businesses. The support provided
by Comerica through the program resulted in approximately 14,800
loans processed totaling $3.8 billion
in PPP loans funded.
Comerica has actively supported local communities throughout its
five-state footprint of Arizona,
California, Florida, Michigan and Texas in response to the global pandemic. In
May, Comerica and the Comerica Charitable Foundation announced a
commitment of $8 million to COVID-19
relief efforts. Those funds were geared to aid Community
Development Financial Institutions (CDFIs) and other nonprofits
supporting micro-sized businesses, as well as community programs
supporting those impacted by COVID-19.
As part of the COVID-19 relief funds, $1.5 million was invested to Lendistry, a CDFI
developed to deliver economic opportunities and progressive growth
for small business owners and underserved communities as a source
of financing and financial education. Comerica also supported
California Farm Link with an investment of $500,000 to California FarmLink, which helps
farmers to build strong business skills, access fair financing and
establish secure land tenure. Most recently, a $1 million grant was presented to Local
Initiatives Support Corporation to assist the organization in
providing critical small business loans to businesses adversely
impacted by the pandemic.
Coupled with COVID-19 relief efforts, Comerica has partnered
with Minority Depository Institutions (MDIs). Comerica
announced it was moving $10 million
in deposits to MDIs, as well as building a mutual mentoring
relationship with selected institutions.
About Comerica
Comerica Incorporated (NYSE: CMA) is a
financial services company headquartered in Dallas, Texas, and strategically aligned by
three business segments: The Commercial 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
$83.6 billion at Sept. 30, 2020.
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SOURCE Comerica Incorporated