Welcome to our dedicated page for Fifth Third Bancorp news (Ticker: FITB), a resource for investors and traders seeking the latest updates and insights on Fifth Third Bancorp stock.
Fifth Third Bancorp reports news as a U.S. bank holding company and the indirect parent of Fifth Third Bank, National Association, a federally chartered bank. Company updates cover earnings, loan and deposit trends, net interest income and margin, balance-sheet management, and integration following the completed Comerica merger into Fifth Third Financial Corporation, a wholly owned subsidiary.
Recurring developments also include branch expansion, commercial real estate and multifamily lending through the Fannie Mae DUS program, debt exchange activity, annual meeting results, Community Reinvestment Act performance, community-development programs, financial access initiatives, and service activities across the bank's footprint.
The Fifth Third Foundation announced over $23 million in grants for 2021, benefiting nearly 140 organizations focused on community programs, affordable housing, and financial literacy. Key initiatives include support for minority homeownership via NeighborWorks America and revitalization efforts in majority-Black communities with nearly $20 million allocated. The Foundation aims to create long-lasting impacts and strengthen communities through these philanthropic efforts, especially in response to pandemic-related needs.
Fifth Third Bank's Foundation Office announced over $5.2 million in grants for 2021, supporting education, arts, health services, and community development for low- to moderate-income individuals and small businesses. Key beneficiaries include Episcopal Retirement Services, which received funding to renovate The Manse for senior housing, and Stepping Stones, which will enhance its campsite for individuals with disabilities. The foundations accept inquiry letters from qualifying nonprofits annually from October 1 to December 31.
Fifth Third Bank’s Community Development Lending and Investments group has secured over $500 million in loans and investments in 2021, creating more than 6,000 housing units for low- and moderate-income families, including seniors. Key projects include John Arthur Flats and Blair Lofts in Cincinnati, catering to income-restricted communities. The group also invested $85 million in the Emerging Minority Developer Fund, aiming to support developers of color in affordable housing development. Fifth Third's total assets were $208 billion as of September 30, 2021.
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Fifth Third Bancorp (NASDAQ: FITB) has announced a redemption notice for all outstanding 3.500% fixed rate senior notes due March 15, 2022, totaling $500 million. The redemption is scheduled for February 13, 2022, at 100% of the principal amount plus accrued interest. This move is aligned with the company's financial strategy as it continues to manage its liabilities efficiently.
Fifth Third Bancorp (NASDAQ: FITB) will present at the Goldman Sachs U.S. Financial Services Conference on December 8, 2021, at 8:40 AM ET. President Tim Spence and CFO Jamie Leonard will represent the company. A live audio webcast and presentation slides will be available on the Investor Relations section of www.53.com for 14 days following the event. As of September 30, 2021, Fifth Third Bancorp has $208 billion in assets and operates 1,100 banking centers across several states, providing access to approximately 52,000 fee-free ATMs nationwide.
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Fifth Third Bancorp (NASDAQ: FITB) announced that its subsidiary, Fifth Third Bank, has submitted a notice for the redemption of $300 million in floating rate senior notes due February 1, 2022. The redemption will occur on January 3, 2022, at 100% of the principal amount, plus accrued interest. As of September 30, 2021, Fifth Third Bancorp held $208 billion in assets and managed $541 billion in assets under care. The bank operates extensively with 1,100 full-service banking centers and 52,000 fee-free ATMs across the U.S.
Fifth Third Bank has appointed Craig Harter as the new head of auto lending, succeeding Peter Kidd, who is retiring in spring 2022. Harter returns with over 30 years of experience in banking and automotive lending, including previous roles at Fifth Third from 2004 to 2010 and most recently as head of indirect lending at a regional bank. Fifth Third is one of the leading bank originators of indirect auto loans in the U.S., with a strong dealer network across 40 states.
Fifth Third Bank announced a special payment of $1,250 for full-time employees providing essential banking services during the pandemic, marking the second recognition of its kind. Over 7,500 employees are eligible, with part-time workers receiving $625. The Bank has maintained 99% of its financial centers open and introduced competitive benefits including additional vacation days and improved time-off policies. As of Sept. 30, 2021, Fifth Third had $208 billion in assets and operates over 1,000 banking centers across the U.S.