Fifth Third Acquires Comerica for $10.9 Billion

Core Insights - Fifth Third Bank is set to become the ninth-largest bank in the U.S. following its acquisition of Comerica, which is valued at $10.9 billion, resulting in a combined asset total of $288 billion [2][3] Group 1: Merger Details - The merger is expected to close in the first quarter of 2026, aligning with Fifth Third's expansion strategy [2] - The transaction will enable Fifth Third to increase its presence in high-growth markets, with plans for over half of its branches to be located in the Southeast, Texas, Arizona, and California by 2030 [2] Group 2: Strategic Implications - Fifth Third's Chairman and CEO, Tim Spence, emphasized that the merger will enhance the bank's commercial capabilities and market density [3] - Comerica's CEO, Curt Farmer, noted that Fifth Third's expertise in retail, payments, and digital services will strengthen Comerica's commercial franchise and customer service [3] Group 3: Industry Context - The merger reflects a trend in the regional banking sector, as U.S. regulators have relaxed their stance on bank combinations, with other notable mergers occurring this year [3] - Recent examples include PNC Bank's acquisition of FirstBank for $4.1 billion and FNBO's merger with Country Club Bank [3][4]