Executives at Comerica Inc. have highly valued Texas expansion for a long time — maybe too much in some eyes, after its big deal announcement Tuesday.
Comerica, which moved its headquarters to Dallas four years ago and has credited growth in the Lone Star State with helping to carry it through the financial crisis, prevailed in the bidding for Sterling Bancshares Inc. of Houston with an offer valued at 2.3 times tangible book.
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