Fifth Third completes Comerica merger, forms ninth-largest U.S. bank
Fifth Third Bancorp said Monday that it has completed its merger with Comerica, creating the ninth-largest bank in the U.S. with roughly $294 billion in assets.
The combined company brings together Fifth Third’s retail banking and digital operations with Comerica’s middle-market banking business. Fifth Third said the merger is intended to strengthen the bank’s scale, geographic reach and earnings mix.
The transaction was announced in October 2025, when companies signed a definitive merger agreement in an all-stock transaction valued at $10.9 billion.
Fifth Third said it will now operate in 17 of the 20 fastest-growing large U.S. markets, including parts of the Southeast, Texas and California, while maintaining a significant presence in the Midwest. By 2030, Fifth Third said it plans to operate about 1,750 branches, with more than half located in the Southeast, Texas, Arizona and California.
The combined company will also include two fee-based businesses — commercial payments and wealth and asset management — with each generating about $1 billion annually in recurring revenue, according to the companies’ announcement.
“We are thrilled to announce we have closed our merger with Comerica,” said Tim Spence, chairman, CEO and president of Fifth Third. “This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities. Together, we are creating a stronger, more diversified bank that is well-positioned to deliver exceptional value for our shareholders, customers, communities and teammates — starting today, and over the long-term.”
Fifth Third said integration teams from both companies will continue to work together as the merger progresses. Customers are expected to retain their existing coverage teams, products and services during the transition. Full system and brand conversions are expected to take place in the third quarter. Until then, Comerica branches will continue operating under the Comerica name.
Looking ahead, Spence outlined several priorities for the combined bank, including expanding Comerica’s middle-market banking platform, increasing commercial and wealth relationships, growing retail banking operations in Texas through new branch openings, and developing an innovation-focused banking business.
“Over the next five years, we see four key opportunities: scaling Comerica’s middle market expertise; deepening commercial and wealth relationships to Fifth Third levels; expanding retail banking with our proven playbook, including 150 new de novo branches in Texas; and building a differentiated innovation banking business by leveraging the capabilities of Comerica’s Tech and Life sciences vertical with Fifth Third’s Newline platform,” Spence said.
“We’re building a stronger, more innovative bank, deliberately engineered for through-the-cycle performance so we can continue delivering for our customers, communities and teammates.”