Fifth Third Bancorp to Acquire Comerica in $10.9 Billion All-Stock Deal, Forming Ninth-Largest US Bank
Fifth Third Bancorp to Acquire Comerica in $10.9 Billion All-Stock Deal, Forming Ninth-Largest US Bank
Fifth Third Bancorp announced today an agreement to acquire fellow regional bank Comerica in a significant $10.9 billion all-stock transaction. This merger is set to create the ninth-largest U.S. bank by assets, boasting approximately $288 billion. Both financial institutions anticipate the deal will finalize by the end of the first quarter of 2026.
Following the announcement, Comerica shares experienced an immediate surge, rallying 11.5% in premarket trading, while Fifth Third saw a modest decline of about 3%. Fifth Third CEO Tim Spence highlighted the strategic importance of the acquisition, stating it accelerates their strategy to build density in high-growth markets and deepen commercial capabilities. Comerica CEO Curt Farmer echoed this sentiment, noting the combination will enhance customer service with improved capabilities across more markets.
Industry observers are closely watching the deal, with the SPDR S&P Regional Banking ETF (KRE) jumping 1% on expectations that this could signal the beginning of a wave of consolidation in the regional banking sector, spurred by a more favorable regulatory environment under the current administration.
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