Fifth Third Bank (5/3 Bank), the principal subsidiary of Fifth Third Bancorp, is an American bank holding company headquartered in Cincinnati, Ohio. Fifth Third is one of the largest consumer banks in the Midwestern United States.

Fifth Third Bancorp
Fifth Third Bank
Company typePublic
PredecessorBank of the Ohio Valley, Third National Bank, Fifth National Bank
FoundedJune 17, 1858; 165 years ago (1858-06-17), in Cincinnati, Ohio, U.S. (as Bank of the Ohio Valley)
HeadquartersFifth Third Center, ,
Number of locations
1,100 branches and 2,400 automated teller machines
Area served
Key people
Timothy N. Spence (chairman, CEO and president)
ProductsConsumer banking, corporate banking, private banking, financial analysis, insurance, investment banking, mortgage loans, private equity, wealth management, credit cards
RevenueIncrease US$7.90 billion (2021)
3,093,000,000 United States dollar (2022) Edit this on Wikidata
Increase US$2.66 billion (2021)
Total assetsIncrease US$211.12 billion (2021)
Total equityIncrease US$22.21 billion (2021)
Number of employees
19,112 (December 2021)
Footnotes / references
Fifth Third Bank branch located in Fairborn, Ohio

Fifth Third's client base spans retail, small business, corporate, and investment clients. Fifth Third operates 1,100 branches and 2,400 automated teller machines, which are in 11 states: Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.

The name "Fifth Third" is derived from the names of the bank's two predecessor companies, Third National Bank and Fifth National Bank, which merged in 1909.

The company is ranked 411th on the Fortune 500.[2] Fifth Third Bank is one of the largest banks in the United States.[3]



Bank of the Ohio Valley


On June 17, 1858, the Bank of the Ohio Valley opened in Cincinnati, Ohio. On June 23, 1863, the Third National Bank was organized. On April 29, 1871, Third National Bank came into possession of Bank of the Ohio Valley, and by 1882 the bank's capital was around $16 million, considered the state's largest bank capital at the time. In 1888, Queen City National Bank changed its name to Fifth National Bank.[4]

Merger of Third National Bank and Fifth National Bank


On June 1, 1908, Third National Bank and Fifth National Bank merged to become the Fifth–Third National Bank of Cincinnati; the hyphen was later dropped. The merger took place when prohibitionist ideas were gaining popularity, and it is a legend that "Fifth Third" was better than "Third Fifth", which could have been construed as a reference to three fifths of alcohol.[5] The name went through several changes—the most recent being Fifth Third Union Trust Company[6]—until March 24, 1969, when it was changed to Fifth Third Bank.

Current day operations


In November 2008, the United States Department of the Treasury invested $3.4 billion in the company as part of the Troubled Asset Relief Program and in February 2011, the company repurchased the investment from the Treasury.[7][8]

During the 2009 recession, Fifth Third was forced to spin–off its processing arm, Fifth Third Processing Services. The new company was named Vantiv.[9]

In May 2018, Fifth Third expanded their footprint in the greater–Chicago area by purchasing MB Financial's $29 billion in deposits and 120 branches for $4.7 Billion USD.[10]

For 2020, Fifth Third originated nearly 56,000 mortgages with a value of $10.6 billion ($12.3 billion in 2023).[11] In August 2020, the bank signed a partnership with Trust & Will.[12]

In January 2022, Fifth Third announced it had acquired the San Francisco–based residential solar power lender, Dividend Finance.[13]



In December 2016, small business owners sued Fifth Third, along with Vantiv and National Processing Company, for violating telemarketing laws. On August 4, 2022, a $50 million settlement was finalized. [14]

On March 9, 2020, the Consumer Financial Protection Bureau (CFPB) charged Fifth Third with illegal cross–selling. The complaint was amended on June 16, 2021 and is currently pending litigation.[15] As a result of the CFPB's charge, a class action suit was filed on behalf of former MB Financial shareholders, alleging that the cross–selling strategy artificially inflated Fifth Third's stock price and thus MB Financial's shareholders were not honestly compensated when the purchase occurred. Fifth Third filed a motion to dismiss on October 13, 2020, which was denied March 19, 2021. The case was settled on September 14, 2023, with Fifth Third paying former MB Financial shareholders $5.5 million.[16]

In September 2015, the US Department of Justice and the Consumer Financial Protection Bureau announced an $18 million settlement to resolve allegations that Fifth Third Bank engaged in a pattern or practice of discrimination against African–American and Hispanic borrowers in its indirect auto lending business.[17]

On April 27, 2023, a jury sided with Fifth Third in a lawsuit filed by customers of its Early Access loan program. The program charged a 10% flat fee. While Fifth Third listed an APR estimate of 120%, the actual APR would be higher if the loan was paid off early due to the fee structure. While the jury agreed Fifth Third breached its loan agreement, it also agreed that customers were fully aware of the fee and thus were not awarded any damages.[18]

On March 8, 2024 the Minnesota Attorney General filed suit against Fifth Third subsidiary Dividend Finance and three other lending companies (GoodLeap, Sunlight Financial, and Solar Mosaic), following an investigation that uncovered they charged Minnesotans $35 million in hidden fees on nearly 5000 loans to finance sales of residential solar panels. The lawsuit alleges the lenders violated Minnesota state laws against deceptive trade practices, deceptive lending, and illegally high rates of interest.[19]

The Minnesota suit alleges the “Defendants deceive consumers by charging a hidden and costly upfront fee that they add into the stated price of each financed system while falsely telling consumers that the inflated price only reflects the system’s cost rather than financing.” “The fees vary depending on the loan but are usually between 10 percent and 30 percent of the stated total price of the system.” “Defendants do not allow sales companies to identify such fees in sales proposals and do not calculate such fees in advertised APRs or otherwise disclose the fees as finance charges. Instead, Defendants require Minnesota solar companies to hide the fee in the stated price of the financed system. This means that the upfront fee inflates the original principal amount of the loan, even though Defendants and their partner Minnesota solar companies tell consumers that the stated price is disbursed to the solar company to pay for hardware and installation of the solar-panel system and not financing.”[20][21]

Notable corporate buildings


Naming rights and sponsorships


Fifth Third owns corporate naming rights to the following:

Fifth Third Bank is a sponsor of the following:

See also



  1. ^ "Fifth Third Bancorp 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 25, 2022.
  2. ^ "Fifth Third Bancorp". Fortune. Archived from the original on December 11, 2019. Retrieved April 12, 2020.
  3. ^ "Biggest US Banks by Asset Size (2021)". MX Technologies. April 20, 2021. Retrieved September 21, 2021.
  4. ^ "Our History: A history of providing superior customer service and following sound banking principles". Retrieved October 11, 2020.
  5. ^ "Organization: Fifth Third Bank". Cbonds. Retrieved May 1, 2024.
  6. ^ Brickey, Homer (April 2, 2002). "That funny name for a bank has grown on us". The Blade.
  7. ^ Protess, Ben (February 2, 2011). "Fifth Third Repays Bailout Funds". The New York Times.
  8. ^ "Fifth Third Bancorp repays TARP debt". American City Business Journals. February 2, 2011.
  9. ^ Coolidge, Alexander. "Vantiv transforms into Worldpay, likely region's newest Fortune 500". The Enquirer. Retrieved April 14, 2023.
  10. ^ Coolidge, Alexander. "Fifth Third spends $4.7 billion for Chicago's MB Financial". USA TODAY. Retrieved April 14, 2023.
  11. ^ "Fifth Third Bank Mortgages". Retrieved December 18, 2021.
  12. ^ "Fifth Third Bank and Trust & Will Announce Strategic Relationship to Help Customers Protect and Secure Their Families'". July 16, 2020. Retrieved August 25, 2023.
  13. ^ "US solar lender Dividend Finance acquired by bank Fifth Third". PV Tech. January 20, 2022. Retrieved January 20, 2022.
  14. ^ "Judge finalizes $50M settlement with Fifth Third, Vantiv over recorded telemarketing calls". Retrieved June 5, 2023.
  15. ^ "Consumer Financial Protection Bureau Files Suit Against Fifth Third Bank, National Association for Allegedly Opening Unauthorized Accounts and Enrolling Consumers in Unauthorized Products and Services". CFPB. Retrieved June 5, 2023.
  16. ^ "Fox v. Fifth Third Bancorp". Retrieved March 1, 2024.
  17. ^ "Justice Department and Consumer Financial Protection Bureau Reach Settlement to Resolve Allegations of Auto Lending Discrimination by Fifth Third Bank".
  18. ^ "Federal jury awards zero damages in Fifth Third loan case". Retrieved June 5, 2023.
  19. ^ "Attorney General Ellison sues solar lenders over $35M in deceptive hidden fees" (Press release). Office of the Attorney General of Minnesota. March 8, 2024. Archived from the original on May 20, 2024. Retrieved May 27, 2024.
  20. ^ Office of the Attorney General of Minnesota (April 5, 2024). "Minnesota v. GoodLeap LLC, Sunlight Financial LLC, Solar Mosaic LLC, and Dividend Solar Finance LLC" (PDF). US District Court for the District of Minnesota. Archived (PDF) from the original on May 27, 2024. Retrieved May 27, 2024.
  21. ^ Weaver, John Fitzgerald (April 26, 2024). "Minnesota sues GoodLeap, Sunlight, Mosaic and Dividend over dealer fees". PV Magazine. Archived from the original on April 30, 2024. Retrieved May 27, 2024.
  22. ^ "Fifth Third Bank Extends Sponsorship of RLL through 2025". August 7, 2022. Retrieved March 27, 2023.