M&A Deal Summary

Comerica Acquires Imperial Bancorp.

On January 30, 2001, Comerica acquired financial services company Imperial Bancorp. for 1.3B USD

Acquisition Highlights
  • This is Comerica’s 1st transaction in the Financial Services sector.
  • This is Comerica’s largest (disclosed) transaction.
  • This is Comerica’s 1st transaction in the United States.
  • This is Comerica’s 1st transaction in California.

M&A Deal Summary
Date 2001-01-30
Target Imperial Bancorp.
Sector Financial Services
Buyer(s) Comerica
Deal Type Add-on Acquisition
Deal Value 1.3B USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Sullivan & Cromwell (Legal)

Target

Imperial Bancorp.

Inglewood, California, United States
Imperial Bank provides customized financial products and services to mid- size manufacturing, distribution, wholesale, service, import/export, and title and escrow businesses, in addition to emerging technology, entertainment and residential construction. Currently, it operates 15 regional banking offices throughout California and Arizona, Colorado and Washington. Imperial also has 23 small business lending offices across the country, and 15 emerging growth loan offices serving technology centers nationwide.

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Buyer(S) 1

Buyer

Comerica

Dallas, Texas, United States
Category Company
Founded 1849
Sector Financial Services
Employees7,619
Revenue 3.6B USD (2023)
DESCRIPTION
Comerica park in Detroit, Michigan.
Comerica park in Detroit, Michigan.

Comerica is a financial services company that provides retail, business banking, and wealth management services and serves principally operates in the states of Texas, California, and Michigan. Comerica was incorporated in 1849 and is based in Dallas, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 2
Year (2001) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-28 Sterling Bancshares

Houston, Texas, United States

Sterling Bancshares, Inc. provides banking serives to consumers and small to medium-sized businesses in Texas, US.

Buy $1.0B
Mergr

Product

Company

Legal