Fifth Third Bank

Fifth Third Bank is the principal banking subsidiary and customer-facing brand of Fifth Third Bancorp, a financial-services company headquartered in Cincinnati, Ohio. The institution serves consumers, small businesses, middle-market companies, corporations, municipalities, and wealth-management clients primarily across the Midwest and Southeast United States. Its activities include deposit accounts, payments, consumer credit, mortgages, home-equity products, commercial lending, treasury management, investment services, private banking, and related financial advice. The bank traces its institutional history to the Bank of the Ohio Valley, which opened in Cincinnati in 1858 under William W. Scarborough. Third National Bank was organized in 1863 and acquired the Bank of the Ohio Valley in 1871. A separate predecessor, Queen City National Bank, adopted the name Fifth National Bank in 1888. Third National Bank and Fifth National Bank merged in 1908, creating Fifth-Third National Bank of Cincinnati. The unusual name reflects the combination of the two predecessor institutions rather than a reference to a product or geographic location. The hyphen was eventually removed, and the institution adopted the name Fifth Third Bank in 1969. Fifth Third developed through a combination of organic expansion and acquisitions. Its growth broadened the franchise beyond traditional branch banking into commercial finance, payment processing, wealth management, and specialized lending. The company acquired Emerald Financial in 1999 and First Charter Bank in 2007, strengthening its presence in additional Midwestern and Southeastern markets. In 2009, it completed the corporate separation of Fifth Third Processing Solutions, a payments business that later became part of Worldpay. The 2018 acquisition of MB Financial expanded the bank's Chicago-area and commercial-banking presence and was one of its most significant recent transactions. The brand's customer proposition combines the reach of a large regulated bank with a concentrated regional footprint. Retail customers can access checking and savings accounts, debit and credit products, mortgages, auto loans, personal lending, digital banking, and branch and ATM services. Business and corporate customers are served through commercial loans, equipment finance, treasury-management services, merchant and payment solutions, capital-markets capabilities, and industry-focused banking. Wealth and investment offerings include brokerage, trust, retirement, private banking, and financial-planning services, subject to the structure of the relevant Fifth Third subsidiary or affiliate. Fifth Third has also pursued targeted expansion into newer financial categories. Its partnership with Trust & Will supported digital estate-planning access, while the acquisition of Dividend Finance added residential solar-project financing capabilities. The company subsequently acquired Rize Money and Big Data Healthcare in 2023, reflecting an interest in embedded finance, fintech-enabled services, and specialized healthcare-related financial infrastructure. The bank has faced regulatory and litigation scrutiny, including a 2015 fair-lending settlement involving indirect auto lending, a 2020 Consumer Financial Protection Bureau action concerning sales practices, and disputes involving payment-processing services, early-access loans, and solar-finance lending. These matters have contributed to a continuing emphasis on consumer-protection controls, compliance, remediation, and responsible banking. Fifth Third Bancorp's common stock trades under the symbol FITB. The bank remains an active U.S. financial institution with a branch and ATM network concentrated in twelve states, while its digital channels and commercial relationships extend the practical reach of the brand beyond its physical footprint.

Fifth Third Bank originated in Cincinnati during the nineteenth-century development of the U.S. national banking system. The Bank of the Ohio Valley opened on June 17, 1858, founded by William W. Scarborough. Third National Bank was organized in 1863 and acquired the Bank of the Ohio Valley in 1871. Meanwhile, Queen City National Bank changed its name to Fifth National Bank in 1888. On June 1, 1908, Third National Bank and Fifth National Bank merged. The resulting institution was named Fifth-Third National Bank of Cincinnati. The name was subsequently modified through several corporate forms, including Fifth Third Union Trust Company, before the institution adopted Fifth Third Bank on March 24, 1969. The combined name is a historical reference to the two predecessor banks. A popular explanation that the ordering avoided an association with alcohol is generally treated as a naming legend rather than the documented basis of the merger. During the twentieth century, Fifth Third expanded from a Cincinnati institution into a broader regional banking organization. The modern company developed capabilities in retail deposits and lending, commercial banking, investment services, trust activities, payments, and wealth management. Acquisitions became an important growth mechanism. Emerald Financial was acquired in 1999, and the announced purchase of First Charter Bank in 2007 extended the franchise into North Carolina and other Southeastern markets. The 2008 financial crisis created a major regulatory and capital event. The U.S. Treasury invested $3.4 billion in Fifth Third Bancorp through TARP in November 2008. The company repurchased the investment in February 2011. In 2009, Fifth Third completed the corporate spin-off of Fifth Third Processing Solutions, its payments-processing business; that company was later acquired by Worldpay in 2012. Fifth Third's largest recent expansion before the 2020s came through its acquisition of MB Financial. Announced and completed in 2018, the transaction strengthened Fifth Third's commercial-banking operations and increased its presence in the Chicago metropolitan area. The bank also continued developing digital and specialized finance activities. Its 2020 partnership with Trust & Will added an estate-planning service to the broader customer proposition. In 2022, it acquired Dividend Finance, a lender focused on residential solar projects. In 2023, it acquired Rize Money and Big Data Healthcare, transactions associated with fintech and specialized financial infrastructure. The institution's growth has been accompanied by legal and regulatory challenges. In 2015, the U.S. Department of Justice and the Consumer Financial Protection Bureau announced an $18 million settlement concerning alleged discrimination against African American and Hispanic borrowers in Fifth Third's indirect auto-lending business. In 2016, small-business plaintiffs filed litigation involving alleged telemarketing-law violations by Fifth Third and payment-processing companies; a $50 million settlement was finalized in 2022. In 2020, the CFPB brought an enforcement action alleging unlawful cross-selling practices, which was resolved in 2024 with a $20 million payment and remedial obligations. Other disputes have concerned the Early Access loan product, shareholder claims related to the MB Financial transaction, and alleged hidden fees in solar lending by Dividend Finance. Today, Fifth Third Bank operates as the principal bank brand of Fifth Third Bancorp. Its physical network is concentrated in twelve U.S. states, while digital banking, commercial relationships, payments, and wealth-management services extend beyond the simple geography of its branches. The brand's identity is therefore that of a diversified regional bank: locally concentrated, publicly traded through its parent company, and broad in the range of financial products it offers.

1. 2023Rize Money and Big Data Healthcare acquisitions

   Fifth Third acquired two businesses associated with fintech and specialized healthcare financial services.

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2. 2022Dividend Finance acquisition

   The acquisition added residential solar lending to Fifth Third's specialized-finance activities.

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3. 2018MB Financial acquisition

   Fifth Third completed its $4.7 billion acquisition of MB Financial.

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4. 2008TARP investment

   The U.S. Treasury invested $3.4 billion in Fifth Third Bancorp under TARP.

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5. 2007First Charter Bank acquisition announced

   The announced purchase of First Charter Bank expanded Fifth Third's presence in North Carolina.

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6. 1999Emerald Financial acquisition

   Fifth Third acquired Emerald Financial as part of its regional expansion.

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7. 1969The institution adopts the Fifth Third Bank name

   After several intervening corporate names, the bank became Fifth Third Bank.

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8. 1908Third National Bank and Fifth National Bank merge

   The merger created Fifth-Third National Bank of Cincinnati.

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9. 1888Queen City National Bank becomes Fifth National Bank

   Queen City National Bank adopted the Fifth National Bank name, later contributing the other half of the Fifth Third identity.

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10. 1871Third National Bank acquires Bank of the Ohio Valley

    The transaction brought the Bank of the Ohio Valley into the Third National Bank organization.

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11. 1863Third National Bank is organized

    Third National Bank was organized in Cincinnati.

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12. 1858Bank of the Ohio Valley opens

    William W. Scarborough founded the Bank of the Ohio Valley in Cincinnati, establishing the oldest principal predecessor in Fifth Third's lineage.

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A diversified regional banking and financial-services provider combining branch-based consumer banking with commercial, wealth-management, digital, and specialized-finance capabilities.

• Consumer bankingRetail banking

  Fifth Third's consumer banking business includes checking and savings accounts, certificates of deposit, debit and credit products, online and mobile banking, personal loans, auto lending, and other everyday financial services. Branches and ATMs support the physical network, while digital channels provide account servicing, payments, transfers, alerts, and money-management tools.

• Mortgage and home lendingConsumer lending

  The bank provides residential mortgages and home-equity-related financing to eligible borrowers. These products support home purchase, refinancing, and borrowing against residential property and are distributed through Fifth Third's consumer-banking and lending channels.

• Commercial bankingCommercial banking

  Commercial banking serves small businesses, middle-market companies, large corporations, and institutions with credit facilities, commercial real-estate finance, equipment finance, treasury management, cash management, foreign-exchange and payment capabilities, and industry-focused relationship banking.

• Wealth and investment servicesWealth management

  Fifth Third's wealth platform includes private banking, trust, investment management, brokerage, retirement planning, and financial-planning services. Offerings are intended for affluent individuals, families, business owners, institutions, and fiduciary clients.

• Dividend FinanceSpecialty lending2022

  Dividend Finance is a residential solar lender acquired by Fifth Third in 2022. Its financing activity supports loans associated with residential solar installations and represents Fifth Third's expansion into energy-transition and specialty consumer finance.

• 2022Acquisition of Dividend FinanceM&A

  Fifth Third pursued specialized lending opportunities connected with residential solar installations.

  What changed. The bank acquired Dividend Finance, a San Francisco-based residential solar lender.

  Aftermath. Dividend Finance became part of Fifth Third's specialty-finance activities, although its lending practices later became the subject of litigation in Minnesota.

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• 2018Acquisition of MB FinancialM&A

  Fifth Third sought to increase scale and deepen its commercial-banking presence, especially in the Chicago market.

  What changed. Fifth Third acquired MB Financial in a transaction valued at $4.7 billion.

  Aftermath. The acquisition broadened the bank's regional franchise and added MB Financial's customer relationships and operating footprint.

  Transaction value. $4.7 billion (2018 transaction)

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• 2009Spin-off of Fifth Third Processing SolutionsStrategy

  Fifth Third separated its payments-processing business from the banking group.

  What changed. The company completed a corporate spin-off of Fifth Third Processing Solutions, which was later acquired by Worldpay.

  Aftermath. The transaction left Fifth Third more focused on banking and financial services while the payments business continued under separate ownership.

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• 2024Minnesota solar-finance lawsuitControversy

  Minnesota's attorney general sued Dividend Finance and other solar lenders, alleging deceptive trade practices, deceptive lending, hidden fees, and unlawful interest charges in residential solar loans.

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• 2023Early Access loan litigationControversy

  A jury found that Fifth Third breached aspects of its Early Access loan program, but customers were not awarded damages because the terms had been disclosed. The litigation highlighted the product's high effective cost and fee structure.

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• 2022Payment-processing telemarketing litigation settlementControversy

  Small-business plaintiffs brought claims involving alleged violations of telemarketing laws against Fifth Third and payment-processing entities. A $50 million settlement was finalized in 2022.

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• 2020CFPB cross-selling enforcement actionControversy

  The CFPB alleged that Fifth Third employees opened or sold products through unlawful cross-selling practices. The matter was resolved in 2024 with a monetary payment and remedial requirements.

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• 2015Indirect auto-lending discrimination settlementControversy

  The U.S. Department of Justice and the Consumer Financial Protection Bureau announced an $18 million settlement over allegations that Fifth Third's indirect auto-lending practices resulted in discriminatory pricing for African American and Hispanic borrowers.

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• 2023Fifth Third acquires Rize Money and Big Data Healthcare

  Fifth Third announced acquisitions of Rize Money and Big Data Healthcare, broadening its fintech and specialized financial-services capabilities.

  M&A
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• 2022Fifth Third acquires Dividend Finance

  The bank acquired Dividend Finance, a residential solar lender based in San Francisco.

  M&A
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• 2020Fifth Third partners with Trust & Will

  Fifth Third partnered with Trust & Will to provide customers with access to digital estate-planning services.

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• 2018Fifth Third completes MB Financial acquisition

  The company completed its $4.7 billion acquisition of MB Financial, expanding its commercial and retail presence, particularly around Chicago.

  M&A
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• 2011Fifth Third completes TARP repayment

  Fifth Third repurchased the Treasury's TARP investment.

  Regulation
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• 2008Treasury invests in Fifth Third under TARP

  The U.S. Treasury invested $3.4 billion in Fifth Third Bancorp through the Troubled Asset Relief Program during the financial crisis.

  Regulation
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• 2007Fifth Third announces First Charter Bank acquisition

  The bank announced an agreement to acquire First Charter Bank of North Carolina, extending its presence in the Southeast.

  M&A
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• 1999Fifth Third acquires Emerald Financial

  Fifth Third expanded its banking franchise through the acquisition of Emerald Financial.

  M&A
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1. Fifth Third Bank
2. Fifth Third Bank official website
3. CFPB cross-selling enforcement action
4. Minnesota solar-lending lawsuit announcement
5. Indirect auto-lending discrimination settlement