Fifth Third Bancorp acquires Comerica Incorporated in an all-stock transaction valued at US$10.9 billion. The deal, announced on 6 October 2025, creates the ninth largest US bank with approximately $288 billion in assets. Under the terms of the definitive merger agreement, Comerica's stockholders receive 1.8663 Fifth Third shares for each Comerica share. This share value represents $82.88 per share based on Fifth Third’s closing stock price on 3 October 2025, and is a 20 per cent premium to Comerica’s 10-day volume-weighted average stock price. The combination is a strategic acceleration of Fifth Third’s long-term growth plan, as it enhances scale, profitability, and geographic reach. The merged entity operates in 17 of the 20 fastest-growing markets in the country. More than half of Fifth Third’s branches are expected to be in the Southeast, Texas, Arizona, and California by 2030. Fifth Third Chairman, CEO and President Tim Spence says the combination marks a pivotal moment for the bank as it accelerates its strategy to build density in high-growth markets and deepen commercial capabilities. Spence adds that Comerica’s strong middle market franchise and complementary footprint make this a natural fit. "Together, we are creating a stronger, more diversified bank that is well-positioned to deliver value for our shareholders, customers, and communities — starting today, and over the long-term," Spence comments. Comerica Chairman, President and CEO Curt Farmer says joining with Fifth Third allows them to build on their leading commercial franchise and further serve customers with enhanced capabilities across more markets. Following the transaction close, Farmer assumes the role of Vice Chair, and Comerica’s chief banking officer, Peter Sefzik, leads Fifth Third’s Wealth and Asset Management business. The transaction is subject to shareholder and customary regulatory approvals and is anticipated to close at the end of the first quarter of 2026.
