Overview
- The deal closed less than four months after it was announced, leaving the combined bank with roughly $290 billion in assets.
- Shareholders of both banks backed the merger and a judge rejected an activist lawsuit from HoldCo Asset Management, clearing the path to completion.
- Branding transitions for Comerica locations are slated for the third quarter, with branch and systems conversions planned for early in the fourth quarter.
- Fifth Third projects $850 million in cost savings and expects about $950 million in one-time charges, targeting 9% earnings-per-share accretion in 2027.
- The bank plans to build scale in markets such as Texas and Michigan, expand toward about 1,750 branches by 2030, and has assumed the Treasury’s Direct Express program.