Cincinnati-based Fifth Third and Dallas-based Comerica Incorporated announced they had received approval from the Federal Reserve System to combine.
In a transaction that is expected to close on Feb. 1, 2026, the two banks will combine to form the ninth largest bank in the U.S. with $290 billion in assets and a footprint that includes 17 of the 20 fastest-growing markets in the country.
“We are thrilled to have all material approvals secured so we can begin an exciting new chapter as one combined company,” Tim Spence, Chairman, CEO and President of Fifth Third, said. “Together, Fifth Third and Comerica will create a stronger, more diversified bank with industry-leading capabilities; a leading position in markets across the Midwest, Southeast, Texas and California; and a proven platform for innovation and expansion.”
The companies said integration teams are working together to facilitate a smooth transition for employees and customers, and that a full system and brand conversion is expected later this year. Until then, customers at both banks will see little in terms of changes to their day-to-day business. Comerica branches will continue to operate under the Comerica brand.
“As we move forward, our focus will be on leveraging our expanded footprint and complementary strengths to provide exceptional value to current and future customers,” Spence said. “With immediate earnings accretion, no dilution to tangible book value per share, and a clear path to more than half a billion dollars in annual revenue synergies, we are confident that this combination will deliver superior outcomes and set a new standard for what a modern, innovative bank can achieve.”