Welcome to our dedicated page for Fifth Third Bancorp news (Ticker: FITB), a resource for investors and traders seeking the latest updates and insights on Fifth Third Bancorp stock.
Fifth Third Bancorp (symbol: FITB) is a diversified financial-services company headquartered in Cincinnati, Ohio. With over $200 billion in assets, the company operates an extensive network of full-service banking branches and ATMs across Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, and North Carolina. Fifth Third Bancorp is dedicated to providing a wide range of financial services, including commercial banking, consumer lending, and investment advisory services.
Fifth Third Bank, a core subsidiary of Fifth Third Bancorp, is committed to innovation and community service. The bank is an affirmative action/equal opportunity employer and prides itself on fostering a diverse and inclusive workplace. Recent achievements include the introduction of new digital banking solutions and strategic partnerships aimed at enhancing customer experience and expanding service offerings.
The company is continually involved in numerous community-building initiatives through the Fifth Third Foundation, which supports various educational, health, and human services programs. Financially, Fifth Third Bancorp maintains a strong balance sheet, with a focus on sustainable growth and shareholder value. The company's commitment to listening to new ideas and responding to customer and community needs underscores its mission to strengthen its service offerings continually.
Stay updated with the latest developments, financial performance, and news related to Fifth Third Bancorp by regularly checking trusted sources like Fifth Third Bank and the Fifth Third Foundation.
Fifth Third Bank (NASDAQ: FITB) is celebrating its unique 166.7 Percentennial anniversary, marking 166.7 years since its establishment on June 17, 1858. The milestone represents the bank's name as a fraction (5/3 = 166.7%) and symbolizes their commitment to exceptional service.
Under CEO Tim Spence's leadership, the bank highlights several historic achievements, including being the first U.S. bank to establish mall branches (1954), among the first banks listed on Nasdaq (1971), and pioneering the first online-shared ATM network, JEANIE® (1977). Recent accomplishments include processing over $17 trillion in Commercial Payments volume in 2024 and growing their Wealth Management AUM by 17%.
Looking forward, Fifth Third plans to expand with over 200 new branches through 2028, primarily in Southeast markets. The bank is celebrating by distributing thank-you notes to customers and surprising some with $53 gift cards, while continuing to enhance their digital banking capabilities and in-branch experience.
Fifth Third (NASDAQ: FITB) has appointed Mike Powell as Corporate Secretary with immediate effect. Powell, who will maintain his current oversight of Mergers & Acquisitions, Strategic Investments, Securities, Wealth & Asset Management, and Retail Brokerage divisions, brings extensive experience in corporate governance and legal compliance.
Since joining Fifth Third in December 2017, Powell has played a key role in various M&A transactions, notably the successful merger with MB Financial Bank in May 2019. His previous experience includes serving as M&A Counsel at Teradata and practicing law at Baker Hostetler and Dickinson Wright in Washington, D.C. after graduating from Harvard Law School.
Fifth Third Private Bank (NASDAQ: FITB) has announced the opening of a new Trust Administrative Office in Wilmington, Delaware. This strategic expansion aims to leverage Delaware's unique trust laws, offering clients income and estate tax advantages, enhanced privacy, and dynasty trust capabilities.
The expansion reinforces the Private Bank's commitment to serving high-net-worth individuals and families with complex wealth planning needs, from philanthropy to business transitions and wealth protection. The bank's expertise focuses on providing flexible, protective, and personalized services.
The announcement follows Fifth Third Private Bank's recent recognition as Best Private Bank (US, Regional) for the sixth consecutive year and Best Private Bank for Entrepreneurs (Globally) for the second year in the Global Finance 2025 World's Best Private Bank Awards.
Fifth Third Bancorp (FITB) has announced its participation in the 2025 RBC Capital Markets Financial Institutions Conference scheduled for March 5, 2025, at 8:00 AM ET. The company will be represented by Bryan Preston, executive vice president and chief financial officer, and Jamie Leonard, executive vice president and chief operating officer.
The presentation will be accessible through a live audio webcast and slides via the Investor Relations section of www.53.com, with materials remaining available for approximately 14 days after the conference. Presentation slides will also be provided in a printer-friendly format on the company's website.
Fifth Third, established in 1858, has been recognized among Ethisphere's World's Most Ethical Companies® for several years. The bank focuses on providing financial services to individuals, families, businesses, and communities, with an emphasis on innovation and community impact. Fifth Third Bank's common stock trades on the NASDAQ® Global Select Market under the symbol 'FITB'.
Fifth Third Bancorp (FITB) has announced its participation in the BofA Securities 2025 Financial Services Conference scheduled for February 11, 2025, at 1:50 PM ET. Bryan Preston, executive vice president and chief financial officer, will represent the company at the conference.
The presentation will be accessible through a live audio webcast and slides via the Investor Relations section of Fifth Third's website (www.53.com). The content will remain available for approximately 14 days following the conference, with presentation slides provided in a printer-friendly format.
Fifth Third, established in 1858, is recognized among Ethisphere's World's Most Ethical Companies® and operates as a federally chartered institution through Fifth Third Bank, National Association. The company's common stock trades on the NASDAQ® Global Select Market under the symbol 'FITB'.
Fifth Third Bank (NASDAQ: FITB) has been recognized among America's Most JUST Companies for the third consecutive year by JUST Capital and CNBC. The bank ranked 5th among banks and 33rd overall out of 940 companies evaluated.
The rankings assess companies across 20 issues based on public opinion research regarding responsible corporate behavior. Companies in the JUST 100 demonstrate superior performance compared to Russell 1000 peers, including:
- Paying 10.6% more workers a family sustaining wage
- Offering $1.95 higher minimum wage
- Providing 16.4 more hours of career development training
- Offering 2 additional weeks of paid parental leave
- Being 2.3 times more likely to offer apprenticeship programs
- Emitting 48% less CO2 per revenue dollar
Fifth Third's commitment to corporate responsibility has also earned recognition in Fortune's World's Most Admired Companies 2025 and Ethisphere's World's Most Ethical Companies® 2024.
Fifth Third (NASDAQ: FITB) has been recognized among Fortune Magazine's World's Most Admired Companies™ for the second consecutive year. The prestigious ranking evaluates corporate reputation across more than 50 industries globally, based on a poll of over 3,700 executives, directors, and analysts conducted by Korn Ferry.
Companies are rated on nine criteria including investment value, management quality, social responsibility, and talent attraction. The selection process involves evaluating 1,500 largest U.S. and global companies by revenue.
In 2024, Fifth Third has garnered multiple accolades, including:
- 'U.S. Best Super-Regional Bank' by Euromoney
- No. 1 for Retail Banking Customer Satisfaction in Florida by JD Power
- Forbes' 'Best Customer Service'
- Global Private Banker 'Best Private Bank for High Net Worth Clients'
- Energage 'Top Workplaces USA'
Fifth Third Bank (NASDAQ: FITB) has announced that customers with Fifth Third Momentum® Banking accounts can now receive their tax refunds via direct deposit up to five days earlier than standard processing times, at no additional cost. This service positions Fifth Third as one of the few banks nationwide offering early tax refund deposits.
The bank has been pioneering early payment technology since 2021, when it first introduced early paycheck access. In 2022, they expanded services to include early payments for gig workers and government benefit recipients. The early tax refund feature, launched in 2023, builds upon this innovation track record.
Currently, more than two million customers use Fifth Third Momentum Banking, which combines financial technology to provide faster, easier, and more secure money access. According to IRS data, 90% of electronic filers choosing direct deposit typically receive refunds within 21 days.
Fifth Third Bank has opened a new full-service banking center in Charlotte's Historic West End Neighborhood, marking the first of 15 planned banking centers in low- and moderate-income (LMI) or high minority (HMT) population areas this year. The 1,900-square-foot facility features a drive-thru, ATM, and innovative open design.
This initiative is part of Fifth Third's Neighborhood Program, which aims to revitalize historically disinvested neighborhoods. Since 2021, the bank has invested $85.2 million in Charlotte's Historic West End, catalyzing an additional $28 million for a total impact of $113.2 million.
Key projects include the Thrive Food Hub, a 6,000-square-foot shopping center renovation, the Legacy at Carr Heights senior living complex with 120 affordable units, and the Hoskins Street Home Preservation project protecting 32 families from displacement. At the opening, the Fifth Third Foundation and LISC Charlotte presented $100,000 in grants to five local small businesses.
Fifth Third Bancorp (FITB) reported Q4 2024 net income of $582 million, or $0.85 per diluted share, up from $532 million ($0.78/share) in Q3 2024 and $492 million ($0.72/share) in Q4 2023. The quarter included a negative $0.05 per share impact from certain items.
Key highlights include: Net interest income increased 1% sequentially to $1.437 billion, with net interest margin improving by 7 basis points to 2.97%. Fee performance showed strong growth with capital markets fees up 16%, wealth management revenue up 11%, and commercial payments up 7% year-over-year. Consumer and commercial loans increased 2% and 3% respectively compared to Q3 2024.
The bank maintained strong capital levels with a CET1 ratio of 10.51% and returned $1.6 billion to shareholders in 2024. Total consumer households surpassed 2.5 million, and the bank opened 21 new branches in high-growth markets during Q4.
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