Key Takeaways Fifth Third agrees to acquire Mechanics Bank's DUS business and $1.8B multifamily servicing portfolio.The deal would give FITB direct access to Fannie Mae's multifamily lending platform.FITB expects the acquisition to expand its multifamily capabilities in commercial real estate.Fifth Third Bancorp (FITB) has entered into a definitive agreement to acquire Mechanics Bancorp's subsidiary, Mechanics Bank’s Fannie Mae Delegated Underwriting and Servicing (“DUS") business line. The deal brings over ...

PresentationHere to tell us more about the path ahead is Chairman and CEO, Tim Spence. Tim is going to walk us through some slides, and then we will have a Q&A session.Right. Kicking off the second day, we are pleased to have Fifth Third joining us once again. Fifth Third has continued to execute on its strategy, including building out its Southeast footprint, growing fees faster than the balance sheet, maintaining excellent cost control. More recently, it announced its intention to by Comerica Bank, just i ...

Fifth Third Bancorp (NasdaqGS:FITB) Conference December 10, 2025 08:00 AM ET Company ParticipantsTim Spence - Chairman and CEOModeratorKicking off the second day, we are pleased to have Fifth Third joining us once again. Fifth Third has continued to execute on its strategy, including building out its Southeast footprint, growing fees fast in the balance sheet, maintaining excellent cost control. More recently, it announced its intention to buy Comerica Bank, just its second bank acquisition in the last 20 y ...

Core Insights - Fifth Third Bancorp (FITB) has entered a multi-year partnership with Brex, aiming to unlock $5.6 billion in annual commercial card payment volume [1][8] - The collaboration will enable Fifth Third to utilize Brex's API-driven infrastructure for its new Commercial Card, enhancing services for Commercial Banking clients [1][4] Group 1: Partnership Details - Fifth Third will deploy Brex's platform across all markets, providing businesses with advanced financial tools to improve efficiency and competitiveness [2] - The partnership addresses long-standing issues in commercial finance, such as poor visibility into spending and manual processes, by offering AI-driven solutions [3][4] - Clients will benefit from features like corporate card issuance, automated expense management, and secure real-time payments [4] Group 2: Strategic Implications - The partnership is expected to increase fee income through higher commercial card usage and improve client retention and acquisition [5] - It supports long-term deposit growth and cross-sell opportunities, enhancing the bank's overall revenue profile [5] - This move aligns with Fifth Third's broader expansion strategy, which includes recent acquisitions and partnerships to strengthen its market position [6] Group 3: Market Performance - Over the past six months, FITB's shares have increased by 15.4%, compared to a 19.5% growth in the industry [7]

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Core Insights - Fifth Third Bancorp (FITB) is planning to invest $1.9 billion through 2029 to accelerate its branch expansion strategy, significantly increasing its investment from previous announcements in 2018 [1][8] Expansion Strategy - The company is focusing on Texas as a new growth market, alongside its existing expansion efforts in Florida, North Carolina, and South Carolina, aiming to open 150 branches in Texas by 2029 and achieve at least 8% market share in the state [2] - Fifth Third aims to establish a top-five market share in major Texas cities such as Dallas, Houston, and Austin, indicating a strategic shift in geographic focus [2] Recent Milestones - FITB recently opened its 200th financial center in Florida and its 100th in the Carolinas, enhancing its retail presence in high-growth markets [3] - The bank currently operates over 1,100 banking centers nationwide, with further expansion expected following the anticipated acquisition of Comerica in early 2026 [3] Future Projections - The bank expects that by 2030, more than half of its retail footprint will be concentrated in the Southeast, Texas, and Arizona, with plans to hire an additional 1,500 staff from 2026 to 2029 to support branch operations [4] - FITB forecasts that deposits could increase by $15 to $20 billion over the next seven years as new markets mature [4] Market Performance - Over the past six months, FITB shares have increased by 14.3%, compared to the industry's growth of 18.3% [5]

Fifth Third Bank and Brex have partnered on a commercial card that will enable the bank’s commercial banking clients to access Brex’s intelligent finance platform.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.Wit ...

Core Insights - The partnership between Fifth Third and Brex is likened to a transformative deal in the payments sector, combining Fifth Third's scale with Brex's innovative fintech capabilities, aiming to enhance commercial card processing into an AI-enabled spend management platform [2][5] Company Perspectives - Fifth Third aims to transition its conventional commercial card processing business into a more advanced platform that leverages AI for improved customer value and growth in spending [2][5] - Brex is excited about the scale this partnership brings, allowing them to offer advanced financial tools to Fifth Third's mid-size business clients, many of whom currently manage finances manually [4][5] Technological Advancements - The collaboration is expected to provide a significant upgrade in financial tools, enabling corporate cards that control spending proactively and automate tedious tasks like receipt tracking and invoice approvals [5][8] - The integration of AI is anticipated to streamline financial processes, reducing manual work and errors, and saving hundreds of hours annually for corporate treasurers and controllers [8] Market Impact - A pilot program conducted earlier showed a tenfold increase in the sales pipeline, indicating strong market potential for the combined offerings of Fifth Third and Brex [9]

Core Insights - Fifth Third Bancorp (NASDAQ:FITB) is recognized as one of the cheap NASDAQ stocks to buy now, having recently opened its 200th financial center in Florida and 100th center in the Carolinas, marking a significant milestone in its Southeast expansion strategy [1][2] Expansion Strategy - The new financial center openings demonstrate the bank's commitment to expanding in high-growth markets, with over 1,100 banking centers nationwide [2] - The expansion is expected to accelerate further after the planned acquisition of Comerica, which is anticipated to be completed in the first half of 2026 [2][3] - Management believes that the Comerica acquisition will drive growth for Fifth Third Bancorp over the next 5 to 10 years, with plans to expand further in Texas and the Southeast [3] Company Overview - Fifth Third Bancorp is an American diversified financial services company that provides comprehensive banking solutions tailored to the needs of small businesses, middle-market companies, and large corporations [4]

Core Insights - Fifth Third Bank has partnered with fintech firm Brex to provide commercial cards and expense management tools for its business clients, utilizing Brex's embedded payments platform [1][2] - This partnership reflects a trend among banks to collaborate with fintech companies to meet the evolving technology expectations of clients, rather than developing their own solutions [2] - Fifth Third is in the process of acquiring Comerica, which will position it as the ninth largest bank in the U.S. with approximately $288 billion in assets [2] Company Statements - Fifth Third CEO Tim Spence emphasized that the partnership with Brex aims to redefine how companies utilize financial technology, combining the bank's strength with Brex's AI-driven innovations to create efficient solutions for businesses [3] - The financial terms of the partnership have not been disclosed [3]