Fifth Third, Comerica enter $10.9 billion deal to create ninth-largest US bank

Fifth Third Bank has agreed to acquire Comerica in a $10.9 billion all-stock deal, forming the ninth-largest bank in the U.S. with a strong Midwest presence.

On October 6, Fifth Third Bank (FITB.O) announced its agreement to buy Comerica (CMA.N) in a $10.9 billion all-stock transaction.
The merger will establish a bank with significant operations in Texas and the Midwest, enhancing Fifth Third's regional footprint.
Shareholders of both Fifth Third and Comerica will receive stock in the combined entity, which is projected to have increased revenue streams post-merger.
This deal is part of a growing trend among regional lenders like Fifth Third to diversify revenue and strengthen market competitiveness.

Why It Matters

The merger between Fifth Third and Comerica will reshape the regional banking landscape, potentially impacting thousands of customers and employees in both institutions. It signifies a strategic effort by regional banks to compete more effectively against larger financial institutions. Observers should monitor how this merger influences customer services, market shares, and future regional banking consolidations.