Fifth Third, Ninth: Comerica Merger Sees 9th Largest US Bank

Fifth Third Bank has completed its merger of Comerica, creating the ninth largest US bank to date. 

The bank, established in 1858, merges its retail banking and digital capabilities with Comerica for a boost in the bank’s stability, profitability and growth potential. 

Comerica provides a strong middle market banking franchise in addition to an attractive footprint. 

The move already bolsters Fifth Third’s momentum for the start of 2026. 

Fifth Third reports a year of record revenue, with strong loan and deposit growth. 

The bank continues to position itself as a leader in digital banking and commercial payments. 

Fifth Third has now expanded into 17 out of 20 of the fastest-growing US territories including regions in the Southeast, California and Texas. It is also strengthening its leadership in the Midwest. 

Expansion plans include aims to have 1,750 branches open in the US, with half located in the Southeast, California, Texas and Arizona by 2030. 

The company combines its analytical marketing capabilities to Comerica’s markets with aims of accelerating deposit growth and deepening customer relationships. 

In combination, the company claims US$1bn in recurring and high-return fee businesses that provide additional capacity to reinvest in growth. 

The fees also provide diversified and durable earnings. 

Tim Spence, Chairman, CEO and President of Fifth Third says:  “We are thrilled to announce we have closed our merger with Comerica. 

“This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities. 

“Together, we are creating a stronger, more diversified bank that is well-positioned to deliver exceptional value for our shareholders, customers, communities and teammates – starting today, and over the long-term.”

Comercia locations will continue operations under the Comerica brand while the integration continues. 

The transition aims to be seamless in order to better serve customers. 

Coverage teams, products and services will remain consistent throughout, with future enhancements as the integration fully completes.

The third quarter is expected to see full system and brand conversions. 

Tim continues: “Over the next five years, we see four key opportunities: scaling Comerica’s middle market expertise; deepening commercial and wealth relationships to Fifth Third levels; expanding retail banking with our proven playbook, including 150 new de novo branches in Texas; and building a differentiated innovation banking business by leveraging the capabilities of Comerica’s Tech and Life sciences vertical with Fifth Third’s Newline platform. 

“We’re building a stronger, more innovative bank, deliberately engineered for through-the-cycle performance so we can continue delivering for our customers, communities and teammates.”

US Banks: Gaining popularity 

Recent headlines around the US banking systems include and uptake of fintechs applying for US banking licences. 

Affirm announced plans for Affirm Bank, centering on the establishment of an industrial loans company. 

It aims to increase access to ‘honest financial products’ while it scales itself in a responsible manner. 

The bank would be FDIC-insured, adding an extra layer of security. 

Similarly, international bank Nu Bank received conditional approval for a US bank charter. 

Nu currently serves over 127 million customers across Brazil, Colombia and Mexico and serves as one of the largest digital platforms in the world. 

The expansion adds to Nubank’s long-term plan to introduce its products into the US market.