On June 17, 1858, the Bank of the Ohio Valley, founded by William W. Scarborough, opened in Cincinnati, Ohio. On June 23, 1863, the Third National Bank was organized. On April 29, 1871, Third National Bank acquired Bank of the Ohio Valley. In 1888, Queen City National Bank changed its name to Fifth National Bank.[5]
Merger of Third National Bank and Fifth National Bank (1908)
On June 1, 1908, Third National Bank and Fifth National Bank merged to become the Fifth-Third National Bank of Cincinnati; the hyphen was later dropped. The merger took place when prohibitionist ideas were gaining popularity, and it is a legend that "Fifth Third" was better than "Third Fifth", which could have been construed as a reference to three fifths of alcohol.[6] The name went through several changes—the most recent being Fifth Third Union Trust Company[7]—until March 24, 1969, when it was changed to Fifth Third Bank.
Post-merger
Fifth Third Center atrium at the headquarters in Cincinnati.
In 1999, the bank acquired Emerald Financial for $204 million.[8]
In May 2022, Fifth Third acquired Dividend Finance, a San Francisco–based residential solar power lender.[14][15]
In May 2023, the bank acquired Rize Money.[16] Also in May 2023, the bank acquired Big Data Healthcare.[17]
In 2025, Fifth Third was ranked as offering the best mobile banking app experience in a J.D. Power survey.[18]
Merger with Comerica
On October6, 2025, Fifth Third announced that it signed a definitive agreement to acquire Comerica Bank for $10.9billion.[19] If approved by regulators, the all-stock deal is expected to close in March 2026;[20] existing Fifth Third shareholders would own about 73% of the combined company, and existing Comerica shareholders would own about 27%. The combined entity would be the ninth-largest bank in the United States,[21] and is reportedly expected to phase out the Comerica brand by 2027.[22][23]
In December 2025, Crain's Detroit Business reported that 30 Fifth Third locations, primarily in Michigan, are expected to close in 2026 if the acquisition is completed.[24]
In October 2025, Fifth Third announced an agreement to purchase Comerica Bank for $10.9 billion, making it the largest U.S. bank deal of the year. This merger would combine both banks under the Fifth Third name, with nearly $300 billion in assets.[25]
On February 1, 2026, Fifth Third and Comerica Bank merged and created the ninth-largest U.S. Bank with about $294 billion in assets. Fifth Third will now operate in 17 of the 20 fastest-growing large markets in the country, including key regions in the Southeast, Texas and California, while solidifying its leadership in the Midwest, the company said in a news release.[26]
Lawsuits
In September 2015, the U.S. Department of Justice and the Consumer Financial Protection Bureau announced an $18 million settlement to resolve allegations that Fifth Third Bank engaged in a pattern or practice of discrimination against African–American and Hispanic borrowers in its indirect auto lending business.[27]
In December 2016, small business owners sued Fifth Third, along with Vantiv and National Processing Company, for violating telemarketing laws. On August 4, 2022, a $50 million settlement was finalized.[28]
On March 9, 2020, the Consumer Financial Protection Bureau (CFPB) charged Fifth Third with illegal cross-selling; the suit was resolved in 2024 with the bank paying $20 million and taking remedial actions.[29] A class action suit was filed on behalf of former MB Financial shareholders, alleging that the cross-selling strategy artificially inflated Fifth Third's stock price and thus MB Financial's shareholders were not honestly compensated when the purchase occurred. The case was settled on September 14, 2023, with Fifth Third paying former MB Financial shareholders $5.5 million.[30]
On April 27, 2023, a jury ruled Fifth Third breached its Early Access loan program, but customers were not awarded damages because they had been fully informed of the terms. Fifth Third listed the APR estimate of 120%, the actual number was higher if the loan was paid off early due to the fee structure.[31]
On March 8, 2024, the Minnesota Attorney General filed suit against Fifth Third subsidiary Dividend Finance and three other lending companies (GoodLeap, Sunlight Financial, and Solar Mosaic), following an investigation that uncovered they charged Minnesotans $35 million in hidden fees on nearly 5,000 loans to finance sales of residential solar panels. The lawsuit alleges the lenders violated Minnesota state laws against deceptive trade practices, deceptive lending, and illegally high rates of interest.[32][33][34][35][36]
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US$2.212 billion (2023)
US$214.574 billion (2023)
