Fifth Third to Acquire Comerica in $10.9B All-Stock Deal
The merger signals accelerating consolidation within the U.S. regional banking sector, creating the nation's 9th largest bank.
Fifth Third Bancorp and Comerica Incorporated have entered into a definitive merger agreement, an all-stock transaction that will create a premier financial institution with significant scale and a diversified footprint across high-growth markets.
The deal, valued at $10.9 billion, marks a significant step in the ongoing consolidation of the U.S. regional banking landscape. Under the terms of the agreement, Comerica shareholders will receive 1.8663 Fifth Third shares for each share of Comerica common stock they own. The exchange represents a 20% premium to Comerica's 10-day volume-weighted average stock price.
The combination creates the ninth-largest U.S. bank, with approximately $288 billion in assets. The strategic move is designed to enhance Fifth Third’s profitability and expand its market presence. Upon closing, the combined entity is slated to operate in 17 of the 20 fastest-growing U.S. markets, strengthening its position in the Midwest while significantly expanding into Texas, California, and the Southeast.
This acquisition is seen by analysts as part of a broader trend of consolidation within the banking industry, as institutions seek to build scale, diversify revenue streams, and navigate a complex regulatory environment. The merger is expected to be immediately accretive to shareholders. The transaction is anticipated to close by the end of the first quarter of 2026, subject to customary closing conditions, including approvals from shareholders of both companies and regulators.