Fifth Third (Nasdaq: FITB) will acquire Comerica (NYSE: CMA), according to a public statement. The deal will create the ninth-largest US bank, with approximately $288 billion in assets.Shares of both banks moved higher in early market trading.Fifth Third will pay approximately $10.9 billion in an all-stock transaction, representing around $82.88 per share as of Fifth Third’s closing stock price on October 3.Tim Spence, Chairman, CEO, and President of Fifth Third Bank, called the acquisition a pivotal moment ...

Fifth Third Bancorp (FITB) has agreed to purchase Dallas-based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, executives for Fifth Third and Comerica expect the deal to close at the end of the first quarter of next year, creating one of the nation's largest US commercial banks with $288 billion in total assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's mega banks as it seeks t ...

Fifth Third bank (FITB) has agreed to purchase Dallas, Texas based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, the deal would create the nation's 9th largest bank with $288 billion in assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's mega banks as it seeks to expand in the Southeast and Southwest. Comerica's stock rose 14% in early Monday trading. Its up just as much for t ...

Fifth Third Bancorp (FITB) has agreed to purchase Dallas-based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, executives for Fifth Third and Comerica expect the deal to close at the end of the first quarter of next year, creating the nation's ninth-largest US commercial bank, with $288 billion in total assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's megabanks as it seeks to ...

Fifth Third Bancorp (FITB) has agreed to purchase Dallas-based Comerica (CMA) for $10.9 billion, the regional banks said Monday. Pending regulatory approval, the deal would create the nation's ninth-largest bank, with $288 billion in assets. The all-stock transaction is aimed at helping Midwest lender Fifth Third, based in Cincinnati, compete against the nation's megabanks as it seeks to expand in the Southeast and Southwest. Comerica's stock rose 14% in early Monday trading. It's up just as much for th ...

Herman, you've been talking about it for years. We've been having that conversation with you. It's coming. It's coming.These guys are going to get together. Here it is. How widely expected was this particular tie up.Yes. So this deal actually reinforces the fact that larger Midwest regional banks are expanding into higher growth markets. You've seen this with PNC in the First Bank transaction. You've seen this with Huntington in Ohio expanding into Texas with various acts.And this is a continuation of that ...

The government shutdowns uh paused the release of all economic data, including last week's uh jobs report. We got upcoming inflation reports obviously that the Fed relies on to decide how to set monetary policy. That's also in jeopardy.Joining us now, former Boston Fed President Eric Rosenrren. And it's good to see you uh Eric. And it's always uh kind of a rearview mirror that the Fed looks at, but not even, you know, no one has a crystal ball.Fed always says that. So, it's a difficult job to start with. Wh ...

Fifth Third Bancorp is buying Comerica for $10.9 billion in an all-stock deal, tying up two big regional banks. The buyout will create the 9th largest U.S. bank with approximately $288 billion in assets, the companies said Monday. The combined company will have operations in the Southeast, Texas and California, and will greatly solidify Fifth Third's position in the Midwest. It is anticipated that over half of Fifth Third’s branches will be located in the Southeast, Texas, Arizona and California by 2030. ...

I want to start off with this historic deal, a potential acquisition or takeover of Sabadell. We know this has been going on for quite some time. Sabadell says it's impossible to get a 50% threshold crossed. Is it impossible to you.Well, first, thank you. It's a pleasure to be with you. Kriti.it's not only possible. We are very confident that we will surpass 50% given the attractiveness of the offer that we have presented to Sabadell shareholders. The attractiveness, it's in the exchange itself, very favora ...

What's at stake: Heritage Financial's $176.6 million deal to acquire Olympic Bancorp will create an $8.8 billion-asset community bank.Key insight: After completing its last bank acquisition in July 2018, Heritage spent seven years on the M&A sidelines.Forward look: Heritage is predicting an 18% earnings accretion in 2027, after costs savings totaling 35% of Olympic's operating expense base are fully phased in.In a deal that expands its footprint in the Puget Sound region, Heritage Financial Corp. in Olympia ...