Fifth Third (FITB) Completes Comerica Merger with 600,000 Customers

On September 8, Fifth Third Bancorp (NASDAQ: FITB) completed the integration of nearly 600,000 former Comerica customers and 293 branches across five states. Following the merger that started on February 1, Fifth Third has become the ninth-largest U.S. bank, with over $300 billion on its balance sheet. The bank is investing nearly $1 billion in Texas to open 150 new financial centers by 2029. The merger-related charges have impacted earnings, cutting $155 million from after-tax income in the second quarter, and showing a net interest margin of 3.36%. This is significant as it reflects the direct costs and benefits of the merger for the bank's financial performance.

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