TITBANK Corporation Executive Summary

Comerica, Inc.
Originally called Detroit Savings Fund Institute, Comerica, Inc. became operative on August 17; 1849. It was founded by Elon Farnsworth on March 5th, 1849. It took in $41 in deposits on the first day of business. 1871, the company name changed to The Detroit Savings Bank. In 1933, Manufacturers National Bank of Detroit was founded; Comerica 1992 merger partner. Its name was change to Detroit bank in 1936. It became allied to other bank such as The Detroit Bank, The Birmingham National Bank, Ferndale National Bank, and Detroit Wabeek Bank and Trust in 1956. They later form The Detroit Bank & Trust Company. In 1973, they were some changes in bank regulations and a holding company, DETROITBANK Corporation, was formed in response
Leon Levine believed he could offer his customers a variety of high-quality, good value merchandise for under $2. Because he had grown up in his family’s retail store, he understood value, quality and customer satisfaction. The first Family Dollar store was open in November 1959, in Charlotte, North Carolina. “The customers are the boss, and you need to keep them happy” was his philosophy.
1961 – First store opens in South Carolina.
1962 – First store opens in Georgia.
1965 – First store opens in Virginia.
1967 – 27 stores operating in four states with annual sales of more than $5 million.
1969 – 50th store opens in Charlotte. 1970 – Family Dollar goes public, offering common stock at $14.50/share (adjusted for stock splits each share is now equivalent to 162 shares).
1971 – 2 for 1 split of common stock. 100th store opens.
1972 – Common stock begins trading on American Stock Exchange. 2 for 1 split of common stock.
1974 – Distribution Center opens in Matthews, NC. 200th store opens.
1976 – First quarterly cash dividend on common stock is
is a customer-oriented, value-driven variety store operating at a one dollar price point. The first store was open in downtown, Norfolk, Virginia and was later renamed K&K 5&10. In 1970, Macon brook, Doug Perry started K&K toy store in Norfolk, Virginia. This concept store grew over 130 stores in the east coast. K&K 5&10 store still exist and is at the origin of the foundation of Dollar Tree. In 1986, they have only 5 store, one in Georgia, one in Tennessee and 3 in Virginia. In 1991, the toy store was sold to the KB Toy, a Melville corp and all the asset was used for the expansion of the Dollar Tree stores. In 1993, the name of the company was changed to Dollar Tree Store. It went public in 1995 NASDAQ Exchange in March at $ 15 a share. They acquired Dollar Bills; Inc. a Chicago based chain of 136 stores in 1996. Its first Distribution Center and Support Center broke ground in 1997, both located in Virginia. In December 19, 1998, it acquired 98-cent clearance center located in California. The second Distribution Center was opened in olive branch, Mississippi with Bob sassi as the Chief Operating Officer. It has only one store located in New York. This happened in 1999. In 2000 it acquired Dollar Express a Philadelphia based company an opened a new distribution center in Stockton, California. Bob Sasser was promoted to president and chief operating officer in 2001. The same year two distribution center were opened, one