Bank / Credit Union

Fifth Third Bank to acquire Comerica in $10.9B deal

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October 7, 2025

Fifth Third Bank has reached a deal to acquire Comerica in an all-stock transaction of $10.9 billion. Through the merger agreement, Comerica's stockholders will receive 1.8663 Fifth Third shares for each Comerica share at $82.88 per share of the stock price on Oct. 3, according to a press release.

The combined bank will hold $288 billion in assets making it the 9th larger U.S. bank. Fifth Third shareholders will hold 73% of the combined bank with Comerica shareholders owning the remaining 27%.

The bank will operate in key markets such as Texas and California, with more than half of its branches operating in the Southeast, Texas, Arizona and California by 2030. Comerica will provide its payments and wealth and asset management businesses for the combined bank.

"Our unique approach to relationship banking has served our customers for nearly two centuries," Curt Farmer, chairman, president and CEO of Comerica, said in the release "Joining with Fifth Third — with its strengths in retail, payments and digital — allows us to build on our leading commercial franchise and further serve our customers with enhanced capabilities across more markets, while staying true to our core values. I am confident that we will be better together, and our customers, shareholders and communities will benefit."

"This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities," Tim Spence, chairman, CEO and president of Fifth Third Bank, said in the release. "Comerica's strong middle market franchise and complementary footprint make this a natural fit. Together, we are creating a stronger, more diversified bank that is well-positioned to deliver value for our shareholders, customers, and communities — starting today, and over the long-term."