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3h ago

Fifth Third to Acquire Comerica in $10.9 Billion All-Stock Deal, Creating Ninth-Largest U.S. Bank

The tie-up seeks scale in faster-growing markets under a regulatory outlook seen as favorable to bank mergers.

A Fifth Third Bank corporate building is seen in downtown Cincinnati, Ohio.
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Overview

  • Comerica investors will receive 1.8663 Fifth Third shares per share, valuing the offer at $82.88 based on Fifth Third’s Oct. 3 close, with closing targeted for the first quarter of 2026 pending approvals.
  • Post-merger ownership is projected at roughly 73% for Fifth Third shareholders and 27% for Comerica shareholders.
  • Shares of Comerica jumped about 11%–12% in early trading after the announcement, while Fifth Third slipped roughly 2.6%–3%, and the regional-bank ETF KRE rose about 1%.
  • The combined bank plans a larger footprint in 17 of the 20 fastest-growing U.S. markets, including parts of the Southeast, Texas and California, with more than half of branches expected in these regions by 2030.
  • Executives forecast two roughly $1 billion recurring fee businesses in Commercial Payments and Wealth and Asset Management, and Comerica CEO Curt Farmer will become vice chair with Peter Sefzik leading wealth and asset management.