US EditionUS bank Fifth Third to buy regional lender Comerica in $10.9 billion deal
The $10.9 billion all-stock deal will create the ninth-largest U.S. bank with $288 billion in assets, expanding Fifth Third's presence in 17 of the 20 fastest-growing U.S. markets.
- On Monday, Fifth Third Bancorp announced it will acquire Comerica Incorporated in an all-stock transaction valued at $10.9 billion, issuing 1.8663 Fifth Third shares per Comerica share and creating the ninth-largest U.S. bank with $288 billion in assets.
- A consolidation wave driven by regulatory shifts has swept regional banks as U.S. regulators eased merger reviews, reversing Biden-era scrutiny, and last year’s banking turmoil pressured lenders to merge.
- Operationally, the merger adds more than 350 branches to Fifth Third's nearly 1,100 locations and plans 150 branches in Texas by 2029, `This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities`, said Fifth Third CEO Tim Spence.
- The deal still requires shareholder approvals and customary regulatory consents, with Comerica shares surging double digits and Fifth Third's stock dipping about 2.6%, while three Comerica board members join Fifth Third's board.
- The merger is expected to shift half the combined firm's footprint to the Sun Belt by 2030, prompt regional-bank consolidation, and support Fifth Third's plan for 200 new locations by 2028.
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The Morning Sun
RoyalOakTribune.comComerica Park to be renamed in bank deal. Here’s when it could happen
DETROIT ― A new name is coming for the Tigers’ home ballpark, possibly as soon as 2027. Monday’s announcement that Fifth Third Bancorp is acquiring Comerica Bank for $10.9 billion means that Comerica Park, the Tigers’ home since 2000, will eventually be renamed, officials said, and that it could happen after the 2026 season concludes, according to officials. Related Articles No wrong answer: Tigers’ manager AJ Hinch picks Jack Flah…
Fifth Third to Buy Comerica for $10.9 Billion, Creating 9th-Largest US Bank
Fifth Third Bancorp announced on Oct. 6 it will acquire Comerica Inc. in an all-stock deal valued at $10.9 billion, a move that will create the ninth-largest U.S. bank. The combined bank will have about $288 billion in assets and operate across 17 of the 20 fastest-growing U.S. markets, the companies said. That footprint includes the Southeast, Texas, and California, alongside Fifth Third’s traditional Midwest base. The acquisition comes amid a …
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