Gregory D. Carmichael
Chairman, President & CEO
Steven E. Folker CFA
Director of Research and Director of Equity Strategy
Executive VP & CFO
Fifth Third Bank was founded in the year 1858. The organisation has been active for almost 160 years. The former name of the company was Bank of the Ohio Valley. In the year 1871, the bank was taken over by Third National Bank. Then in the year 1908, Third National Bank had amalgamated with Fifth National Bank and later formed the Fifth Third National Bank. The organisation had gone through several name changes, and finally, in the year 1969, the name of the organisation was fixed to be Fifth Third Bank. In the year 1994, the organisation was again acquired by Cumberland Federal Bancorp, for about $149 million. The following year, about 12 branches of the PNC Financial Services were taken over by the organisation. Then in the year 1998, the company had acquired W Layman Case & Company. This was followed by the acquisition of Enterprise Federal Bancorp, for about $96.3 million.
During the year 1999 to the year 2008, the company had acquired various other companies as well, namely Emerald Financial, Ashland Bankshares, Bank of Ashland, South Florida Bank Holding, Old Kent Bank, Franklin Financial, R-G Crown Bank of Casselberry, First Charter Bank of Charlotte, First Horizon National Corporation, etcetera. In the year 2008, the USA Department of Treasury had invested almost $3.4 billion in the organisation, which was a part of the Troubled Asset Relief Program - the organisation repurchased the investment in the year 2011. In the year 2009, the company had sold almost 51 per cent of its credit card processing services to Advent International. Then in the year 2014, the organisation was planning to move its regional headquarters in Michigan to Detroit. The headquarters had employed almost 150 employees. In the year 2016, nearly 17 branches were sold to FNB Corporation. In the year 2017, the company had acquired Epic Insurance Solutions Agency along with a human resources firm known as Integrity HR. The next year, the company had acquired Coker Capital Advisors, which as followed by the acquisition of MB Financial for an amount of $4.7 billion. The company had also faced many controversies its past; notably, the data breach incident for various TJX companies, which happened in the year 2007 and about 45.7 million credit card information were leaked. Another controversy occurred in the year 2014, for which the company had to pay almost $1.5 million due to a settlement of a discrimination case towards the organisation. The headquarters of the company is based in 38 Fountain Square Plaza. The name of the place is Cincinnati, while the state name is Oklahoma, USA. The area pin code is 45263.
Fifth Third Bank is an American banking organisation that focuses on providing various kinds of banking and financial services to its customers and clients. The current CEO and also chairman of the organisation is Greg D Carmichael. As of the year 2017, the total revenue generated by the company is more than $7.7 billion. Also, the number of employees working in the organisation is more than 18,100. The organisation has over 1,100 branches along with more than 2,400 ATM machines as well. It is currently ranked at 366 places in the Fortune 500 companies list.
The primary services provided by the organisation include allowing customers and clients to obtain various kinds of financial and banking services offered by the organisation itself. The services provided by the organisation include commercial banking, consumer lending, branch banking, investment advising, etcetera.
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