Fifth Third Steps Up Branch Investments Alongside Comerica Deal

Fifth Third Bancorp now plans to invest a total $1.9 billion to build new branches through 2029, a substantial increase in projected investments since the Cincinnati-based regional lender began expanding into the US Southeast seven years ago.

In addition to Florida, North Carolina and South Carolina, Fifth Third is targeting Texas as well for new branches, a move prompted by its planned acquisition of Dallas-based Comerica Inc., said Shawn Niehaus, Fifth Third’s head of consumer banking. The planned investment is much higher than the $225 million for 100 new branches in the Southeast contemplated in 2018. The lender ...