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 reports news as a U.S. bank holding company and the indirect parent of Fifth Third Bank, National Association, a federally chartered bank. Company updates cover earnings, loan and deposit trends, net interest income and margin, balance-sheet management, and integration following the completed Comerica merger into Fifth Third Financial Corporation, a wholly owned subsidiary.
Recurring developments also include branch expansion, commercial real estate and multifamily lending through the Fannie Mae DUS program, debt exchange activity, annual meeting results, Community Reinvestment Act performance, community-development programs, financial access initiatives, and service activities across the bank's footprint.
Fifth Third Bancorp (FITB) has announced its participation in the 2024 Goldman Sachs U.S. Financial Services Conference on December 11, 2024, at 8:00 AM ET. Tim Spence, chairman, CEO and president, and Bryan Preston, CFO, will represent the company. The presentation will be accessible via audio webcast through Fifth Third's Investor Relations website for approximately 14 days following the conference.
Founded in 1858, Fifth Third is recognized among Ethisphere's World's Most Ethical Companies®, focusing on tech-driven innovation and community impact. The bank trades on NASDAQ under the symbol 'FITB' and aims to be the nation's highest-performing regional bank while maintaining strong customer and stakeholder trust.
Fifth Third Bank (FITB) and the Kenan Institute of Private Enterprise unveiled their 'Empowering American Cities' initiative's economic data in Chicago. The program, which has hosted events in five cities reaching over 1,000 attendees, provides proprietary economic data and analysis for Extended Metropolitan Areas (EMAs) that represent 90% of U.S. GDP. The initiative offers individually created dashboards and comparative economic health indicators for 150 metropolitan areas. For 2025, the program plans to release new economic data, whitepapers, and host events in seven cities, starting with Los Angeles in February.
Fifth Third Bank directors Laurent Desmangles and Linda W. Clement-Holmes have been named to Savoy Magazine's 2024 Most Influential Corporate Directors list. Desmangles, a retired senior partner from Boston Consulting Group, brings over 30 years of experience in financial services and serves on multiple Fifth Third committees. Clement-Holmes, who was previously recognized in 2021, is a retired chief information officer from Procter & Gamble with expertise in IT and diversity leadership. She serves on Fifth Third's audit, human capital, compensation, and technology committees. Both directors are recognized for their significant contributions to corporate leadership and governance.
Fifth Third Bank (Nasdaq: FITB) has appointed Matt Nipper as Northern Ohio region president, succeeding Tom Partridge who becomes group regional president. Nipper, who joined Fifth Third in April as Cleveland market president, brings 26 years of banking experience and will oversee the growth and strategic alignment of the Bank's commercial, wealth & asset management, and treasury management businesses in Northern Ohio. The region encompasses 92 full-service banking centers and over 1,000 employees. Previously, Nipper spent 25 years at KeyBank in various leadership roles including commercial relationship manager productivity leader.
Fifth Third has launched its second annual 'Swap, Snap, Share' campaign to support small businesses during the holiday shopping season. Through December 1, bank employees can enter local small businesses in a sweepstakes to win one of five $5,300 microgrants. The campaign includes employees leaving $53 tips as random acts of kindness before Small Business Saturday. To participate, employees visit local businesses to swap Fifth Third pens, take photos, and share on social media. Eligible businesses must have 100 or fewer employees, $1 million or less in annual revenue, and be locally owned. Fifth Third serves over 320,000 small business clients across its 11-state footprint.
Fifth Third Foundation announces support for REP4®FinLit, a new financial literacy tool developed by and for students, set to launch in 2025. The digital platform will include features like a 'Money Mindset' quiz to help young adults understand their spending habits and relationship with money. This initiative extends Fifth Third's 20-year commitment to financial education through programs like the Fifth Third Bank Finance Academy® and Young Bankers Club®. The tool originated from REP4®, a national alliance founded by Grand Valley State University, and will roll out statewide in Michigan in 2025 before expanding nationally in 2026.
Fifth Third Wealth Advisors has expanded its presence by opening a new office in Winston-Salem, North Carolina, welcoming a team that previously managed $1.8 billion in client assets. The team includes Jonathan Cochrane and Spencer Huggins as Managing Directors, and Shannon Shelton as Relationship Manager. This expansion follows the recent opening of another office in Charlotte, North Carolina. The firm now operates ten advisor teams across seven states, including Florida, Georgia, Illinois, New York, North Carolina, Pennsylvania, and Texas. Fifth Third Wealth Advisors ranks among the top 500 independent RIAs in the US.
Fifth Third Bank has introduced six hyper-fast electric vehicle (EV) charging stations at its eTown Banking Center in Jacksonville, Florida, marking a first for its network. The charging stations, implemented through a collaboration with Electrify America, are publicly available and can be accessed through Electrify America's mobile app. The bank currently offers 72 EV charging ports across its footprint and continues to expand its solar capacity, with the eTown location being one of more than 25 solar-powered branches. The 1,900-square-foot eTown Banking Center showcases a modern, sustainable design that integrates digital banking with in-person services.
Fifth Third Private Bank has been recognized as the Best Private Bank in North America for Customer Service at the 2024 Global Private Banking Awards in London. The awards, organized by Financial Times' publications The Banker and Professional Wealth Management, evaluate private banking groups based on qualitative and quantitative information.
The bank has also received multiple other accolades, including Best Private Bank for High Net Worth Clients globally (third consecutive year), Best Private Bank for Succession Planning globally, and Best Private Bank (US, Regional) for the fifth consecutive year. These recognitions highlight Fifth Third's commitment to client service excellence and financial success.
Fifth Third Bank announced an immediate decrease in its prime lending rate to 7.75%. This marks the second recent reduction in the prime rate, following a previous decrease from 8.50% to 8.00% on September 18, 2024.