The combined bank is the ninth-largest in the U.S., with nearly 2,000 branches expected to be open by 2030.
WASHINGTON — Fifth Third Bancorp has completed its acquisition of Comerica Bank, officially closing a multibillion-dollar deal that elevates Fifth Third to one of the largest banks in the country.
The all-stock transaction, valued at $12.3 billion, closed Monday, Feb. 2, after receiving approval from shareholders of both banks and the Federal Reserve. The deal was first announced in October and was initially valued at $10.9 billion, before rising stock prices for both companies increased its final value.
With the acquisition complete, Cincinnati-based Fifth Third
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