Cincinnati-based Fifth Third Bancorp today announced it has closed its merger with Comerica Inc. to create the ninth-largest U.S. bank and largest in Michigan with approximately $294 billion in assets. Comerica, once headquartered in Detroit, now is based in Dallas.
Officials say the combination of Fifth Third’s retail banking and digital capabilities with Comerica’s middle-market banking franchise and “attractive” footprint further strengthens Fifth Third’s stability, profitability, and growth potential.
“We are thrilled to announce we have closed our merger with Comerica,” says Tim Spence, president, CEO, and chairman of Fifth Third. “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. Together, we are creating a stronger, more diversified bank that is well-positioned to deliver exceptional value for our shareholders, customers, communities and teammates — starting today, and over the long-term.”
The combined bank now holds the No. 2 deposit share across its Midwest markets and becomes the No. 1 retail deposit holder in Michigan and Detroit. Customers of both banks are expected to benefit from increased branch access in Michigan, with Fifth Third and Comerica customers gaining access to approximately 45 percent and 60 percent more branches, respectively.
The merger builds on Fifth Third’s momentum entering 2026, following a year of record revenue, profitability and efficiency, strong loan and deposit growth, and continued leadership in digital banking and commercial payments, according to Fifth Third officials.
Fifth Third now will operate in 17 of the 20 fastest-growing large markets in the country, including key regions in the Southeast, Texas, and California, while solidifying its leadership in the Midwest.
By 2030, Fifth Third says it’s planning to have approximately 1,750 branches, more than half of which will be in the Southeast, Texas, Arizona, and California. The combined company now has two $1 billion recurring and high-return fee businesses — Commercial Payments and Wealth and Asset Management — which provide “durable, diversified earnings and the additional capacity to reinvest for growth.”
Fifth Third says it will bring its “proven” consumer acquisition playbook and analytical marketing capabilities to Comerica’s markets to accelerate deposit growth and deepen customer relationships.
“Over the next five years, we see four key opportunities: scaling Comerica’s middle-market expertise; deepening commercial and wealth relationships to Fifth Third levels; expanding retail banking with our proven playbook, including 150 new de novo branches in Texas; and building a differentiated innovation banking business by leveraging the capabilities of Comerica’s Tech and Life sciences vertical with Fifth Third’s Newline platform,” Spence says.
“We’re building a stronger, more innovative bank, deliberately engineered for through-the-cycle performance so we can continue delivering for our customers, communities and teammates.”
Integration teams are expected to continue working closely together to ensure a seamless transition for customers. Customers should continue to enjoy consistent coverage teams and the products and services, with future enhancements as the integration progresses. Full system and brand conversions are expected in the third quarter. Until then, Comerica locations will continue to operate under the Comerica brand.
Full information on what customers can expect in 2026 can be found here.
