Shareholders Approve Proposed Merger of Fifth Third and Comerica

Core Viewpoint - The merger between Fifth Third Bancorp and Comerica has received shareholder approval and is expected to close in the first quarter, creating the ninth-largest U.S. bank with $290 billion in assets [1][2][3]. Group 1: Merger Approval and Details - Shareholders of Fifth Third Bancorp voted 99.7% in favor of the merger, while 97.0% of Comerica stockholders supported it [2]. - The proposed merger is valued at $10.9 billion and aims to enhance both banks' capabilities and market presence [5]. Group 2: Strategic Implications - The merger will combine Fifth Third's retail and digital capabilities with Comerica's middle market banking franchise, creating a more resilient institution [4]. - The transaction is expected to drive innovation and strengthen customer relationships, benefiting the communities served by both banks [5]. Group 3: Market Position and Growth - Upon completion, the new entity will operate in 17 of the 20 fastest-growing large markets in the U.S., positioning it closer to the "Big Four" national banks [3][6]. - Fifth Third plans to expand its branch network significantly, adding 150 branches to Comerica's Texas footprint [7].