About the Company
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, United States. It traces its corporate roots to the Third National Bank and the Fifth National Bank, its predecessors and namesakes. In 1908, these two entities merged their business operations, creating the Fifth-Third National Bank of Cincinnati. The company underwent several name changes in subsequent years and adopted its current name in 1969. Fifth Third Bancorp shares trade on the Nasdaq Stock Exchange (NASDAQ) under the ticker symbol FITB. FITB stocks are also components on the S&P 500 index. Fifth Third Bancorp engages in commercial banking, retail banking, data processing and investment advisory. As of 2020, it operates in over 10 states in the US, namely Georgia, Ohio, Illinois, Indiana, Kentucky, Michigan, Florida, North Carolina, West Virginia and Tennessee.
FITB operates through numerous affiliated companies, such as Fifth Third Financial Corporation; Worldpay, Inc.; Vista Settlement Services, LLC; GNB Management LLC; The Retirement Corporation of America; Walnut & Vine Properties II, LLC; and Fifth Third Auto Leasing Trust, among several others. It also owns the naming rights to several properties like Fifth Third Field, Fifth Third Arena, Fifth Third Ballpark and Fifth Third Bank Stadium. FITB offers a diverse product portfolio that spans personal finances, business finances, commercial financial solutions, as well as wealth management. In 2019, the company completed a major acquisition and bought-off MB Financial, Inc. in a $4.7 billion transaction. Subsequently, this merger brought in $20 billion to its existing $146 billion in assets.
As of 2020, Fifth Third Bancorp is one of the largest banks in America with total assets worth of $201.29 billion. FITB ranked 325th on the list of Fortune 500 companies. It ranked 471st on Forbes’ list of Global 2000 companies. Forbes also included FITB in its lists of World’s Best Banks, Best In-State Banks, America’s Best Banks and America’s Best Employers by State.;
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