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.
Fifth Third Bancorp (Nasdaq: FITB) announced cash dividends for its various shares, including $0.27 per common share for Q2 2021, payable on July 15, 2021, to shareholders on record as of June 30, 2021. Preferred shareholders also benefit from dividends on Series H at $637.50, Series I at $414.06, Series J at $210.4375, Series K at approximately $309.375, Series L at $281.25, and Class B Series A at $15.00, all payable on June 30, 2021, to shareholders on record as of June 28, 2021.
Fifth Third Community Development Corp. is investing an additional $2.5 million in First Independence Bank, elevating its total investment to $5.5 million. This makes Fifth Third the largest investor in the minority depository institution. The investment aims to bolster community development and economic opportunities in minority communities, enabling the creation of over $50 million in new loans. This initiative aligns with Fifth Third's Accelerating Racial Equality, Equity and Inclusion strategy, further supporting financial literacy and community investment.
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Fifth Third Bancorp (Nasdaq: FITB) has scheduled its financial results announcements and conference calls for 2022. The dates are as follows: Fourth Quarter on January 20, First Quarter on April 19, Second Quarter on July 21, and Third Quarter on October 20. Each financial result will be announced at approximately 6:30 AM ET, with calls starting at 9:00 AM ET, accessible via the Fifth Third Investor Relations website. As of March 31, 2021, the company reported $207 billion in assets, managing $464 billion across its financial services segments.
Fifth Third Bancorp (Nasdaq: FITB) will participate in the 2021 Morgan Stanley US Financials, Payments & CRE Conference on June 16, 2021, at 8:00 AM ET. CEO Greg Carmichael and CFO Jamie Leonard will represent the company. The conference presentation will be available via live audio webcast and for 14 days thereafter on the Investor Relations section of the company’s website. Fifth Third Bancorp, based in Cincinnati, operates 1,098 banking centers and manages $464 billion in assets under care as of March 31, 2021.
Fifth Third Bank has expanded its Down Payment Assistance program, providing up to $3,600 for low- and moderate-income families purchasing homes in eligible communities. This initiative addresses financial barriers that hinder homeownership, especially in low-income areas. Since 2016, the bank has allocated over $15 million assisting more than 4,500 individuals in home purchases. By increasing eligibility, Fifth Third aims to strengthen community stability and enhance homeownership potential.
Fifth Third Bank has joined the Ceres Company Network, enhancing its commitment to sustainability. This membership allows the bank to collaborate with 60 other companies focused on achieving significant sustainability goals and improving operational resiliency. Chairman and CEO Greg D. Carmichael emphasized the importance of this step in leading regional banks towards a sustainable future. Notably, Fifth Third has achieved carbon neutrality for its 2020 operations, establishing itself as a pioneer in its peer group.
Fifth Third Bancorp celebrates Fifth Third Day by providing 1 million meals to those in need, contributing to local food organizations across its 11-state footprint. This initiative honors the company's commitment to community service and has been ongoing since 1991. The Bank's efforts are particularly significant as the USDA reports over 35 million people faced hunger in 2019, with estimates rising due to the pandemic. Employees will engage in virtual volunteer activities while customers can support the cause through donations.
Fifth Third Bank encourages community support for local businesses during the ongoing pandemic. Notably, the bank has provided over $1.7 billion in loans through the Small Business Administration’s Paycheck Protection Program in 2021, supporting 197,000 jobs at mainly small firms. The bank urges individuals to 'shop local online,' engage with businesses on social media, and patronize local restaurants to help sustain them during challenging times. As of March 31, 2021, Fifth Third managed $464 billion in assets, with common stock traded under the symbol 'FITB.'