CINCINNATI — Fifth Third Bank is making a major move, announcing plans to acquire Comerica in an all-stock deal valued at $10.9 billion. The two lenders said Monday the merger would create the nation’s ninth-largest bank, with about $288 billion in assets once the deal closes — expected in early 2026.
Several media outlets are reporting that under the agreement, Comerica shareholders will get just under two Fifth Third shares for each Comerica share they own — a deal worth about 20 percent more than Comerica’s recent average trading price. Fifth Third shareholders will own roughly three-quarters of the combined company.
CEO Tim Spence called the deal “a pivotal moment” for Fifth Third as it pushes into high-growth markets across the South and West. The move expands the bank’s footprint into Texas and the West Coast, adding branches in California, Arizona, Florida, Michigan, and Texas.
The acquisition also follows pressure on Comerica from an activist investor to consider a sale after several setbacks — including losing a federal benefits card contract to Fifth Third just last month.
The deal marks the largest U.S. bank merger announced so far in 2025.
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