Fifth Third Bancorp to Acquire Comerica for $10.9 Billion

On Monday, Fifth Third Bancorp announced its intention to acquire Comerica, another regional bank, through an all-stock transaction valued at $10.9 billion. This merger will result in one of the largest banking entities in the United States based on asset size.

Upon the deal's completion, the new entity will emerge as the ninth-largest bank in the U.S., boasting around $288 billion in assets. The process is anticipated to be finalized by the first quarter of 2026.

"This merger is a significant landmark for Fifth Third as it accelerates our growth strategy, enhancing our presence in rapidly growing markets and expanding our commercial expertise," stated Tim Spence, CEO of Fifth Third, in an official statement.

Following the news, Comerica's stock surged by 11.5% in premarket trading, while Fifth Third's shares saw a slight dip of approximately 3%.

Curt Farmer, Comerica's chief executive, remarked, "Partnering with Fifth Third, known for its strengths in retail, payments, and digital capabilities, empowers us to enhance our leading commercial position and serve our clientele better across expanded markets."

Early trading saw the sector rise by 1% amid optimism this transaction could spark further deals in the regional banking sector, fueled by the Trump Administration's regulatory easing.