Fifth Third Bancorp will acquire Comerica Bank for $10.9 Billion

October 6, 2025

Fifth Third Bancorp
38 Fountain Square Plaza
Cincinnati, OH 45263
United States
Main Phone: (800) 972-3030
Website: https://www.53.com
Industry Sector: Financial Services, Banks - Regional
Full Time Employees: 18,690
Annual Revenues: $7.99 Billion USD
CEO: Tim Spence, Chairman, CEO & President
Fortune 500 Rank: #320

Comerica Incorporated
Comerica Bank Tower
1717 Main Street MC 6404
Dallas, TX 75201
United States
Main Phone: (833) 571-0486
Website: https://www.comerica.com
Industry Sector: Financial Services, Banks - Regional
Full Time Employees: 7,963
Annual Revenues: $3.22 Billion USD
CEO: Curt Farmer, Chairman, CEO & President
Fortune 500 Rank: #665

Fifth Third Bancorp’s October 2025 announcement that it will acquire Comerica Bank in an all-stock transaction valued at $10.9 billion represents one of the largest U.S. banking mergers of recent years, cementing its status as the ninth-largest bank nationwide and reshaping the competitive landscape in the Midwest and beyond. The following sales intelligence explores all facets of the deal, drawing on official disclosures, Comerica’s customer communications, and news from the finance sector.

What are the core terms of the deal?

Fifth Third Bancorp will acquire all of Comerica’s outstanding shares in an all-stock transaction valued at approximately $10.9 billion, offering Comerica shareholders 1.8663 Fifth Third shares for each Comerica share owned, equating to $82.88 per share based on Fifth Third’s closing stock price on October 3, 2025—a 20% premium over Comerica’s ten-day volume-weighted average share price. When finalized, Fifth Third shareholders will own 73% of the combined entity, with Comerica shareholders controlling 27%.

Why is Fifth Third acquiring Comerica?

The acquisition is a strategic acceleration of Fifth Third’s long-term growth ambitions, allowing the bank to enhance its scale, profitability, and geographic footprint while boosting its competitive standing in high-growth regions such as the Southeast, Texas, and California. By combining Fifth Third’s award-winning retail and digital capabilities with Comerica’s strong middle-market commercial banking franchise, the transaction deepens both consumer and commercial offerings. It is expected to create efficiencies, drive immediate accretion for shareholders, and unlock new sustainable growth platforms.

How will the combined company rank in the U.S. banking sector?

Post-merger, the combined bank will be the ninth-largest in the U.S. by assets, with approximately $288 billion in total assets, $224 billion in deposits, and $174 billion in loans. It will operate in 17 of the 20 fastest-growing markets across the country, positioning itself as a leading Midwest institution while greatly expanding its national presence.

Fifth Third Bank Org Chart

What did bank leadership say about the combination?

Tim Spence, Chairman and CEO of Fifth Third, remarked, “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. Comerica’s strong middle market franchise and complementary footprint make this a natural fit.”

Comerica’s CEO Curt Farmer added, “Partnering with Fifth Third—known for its strengths in retail banking, payments, and digital solutions—enables us to enhance our commercial franchise and better serve our clients with improved capabilities across a broader range of markets, all while adhering to our core values.”

What regulatory and shareholder approvals are needed?

The transaction is subject to customary regulatory reviews and Comerica shareholder approval, with closing anticipated by the end of the first quarter of 2026. Both banks plan to operate separately until integration is complete, and ongoing planning aims to ensure a smooth transition for customers and staff.

What factors contributed to the timing of the merger?

Executives from both banks cited a favorable business and regulatory environment under the Trump administration, where merger approvals have been happening more rapidly and consolidation among regional banks has accelerated. Tim Spence referenced unsuccessful prior attempts, such as Fifth Third’s offer to acquire First Republic Bank during the 2023 banking crisis, highlighting renewed confidence in regulatory processes now.

How does this affect existing customers and employees?

For Comerica Customers:

No immediate changes: Accounts, cards, checks, fees, and relationships remain the same until integration takes place.

Access to expanded services: Over time, the merger will increase branch and ATM access, digital banking tools, and product offerings. Any required changes, such as new account numbers or banking processes, will be communicated well in advance.

FDIC coverage: Deposits remain fully insured; the merger does not affect FDIC coverage.

No disruption to loans or ongoing applications: Loan terms, payment processing, and applications will continue as usual.

Local branches: No immediate changes in branch locations; branch optimization will be assessed post-merger.

Continuity of banking teams: Relationship teams remain in place for now; future adjustments will be communicated and supported.

Information security: Data privacy and fraud protection are prioritized, with both banks committed to customer protection.

For Fifth Third Customers:

No disruptions expected: Operations, accounts, and services remain unchanged until further notice.

Expanded reach: Over half of Fifth Third’s branches will be located in the Southeast, Texas, Arizona, and California by 2030, along with an enhanced Midwest presence.

For Employees:
Leadership from both organizations will guide the combined company, ensuring continuity and upholding shared values. Integration planning considers staff retention, job impacts, and ongoing customer service excellence.

What will Comerica executives’ roles be in the new entity?

Comerica’s Chairman, President, and CEO Curt Farmer will assume the role of Vice Chair in the combined company, while Comerica’s chief banking officer Peter Sefzik will lead Fifth Third’s Wealth and Asset Management business.

Comerica Org Chart

Will the merger affect regional sports sponsorships and community impact?

There is speculation that the merger could affect branding for sports venues affiliated with Comerica, notably the Detroit Tigers’ home stadium, though no formal details have been announced. Both banks have emphasized ongoing commitments to their communities and continued philanthropic investments in the regions where they operate.

What is the financial impact and market opportunity?

The merger is projected to be immediately accretive to shareholders, delivering peer-leading efficiency ratios, return on assets, and return on tangible common equity. Fifth Third will become No. 2 in deposit share across Midwest markets, and No. 1 in Michigan and Detroit, unlocking a $2 billion deposit growth opportunity post-integration of Comerica’s branches and Fifth Third’s digital tools.

How does the merger fit into broader banking industry trends?

This deal is part of a broader consolidation wave sweeping the regional banking sector, with nearly 20 transactions valued over $200 million in 2025 alone. Other notable deals included PNC Financial’s August 2025 acquisition of Colorado’s FirstBank for $4.1 billion, illustrating heightened competition and strategic expansion among leading regional institutions. Analysts expect ongoing deal activity as banks seek scale, improved technology, and broader customer bases under more business-friendly regulatory conditions.

What reassurances are in place for customers regarding security and fraud?

Both Comerica and Fifth Third urge vigilance against scams targeting customers during major transactions. Customers should never respond to unsolicited requests for personal information, credentials, or computer access, and should use official channels for inquiries.

Where can customers get updates about the merger?

Regular updates and FAQs are available on both banks’ dedicated merger pages, which include official details and ongoing news about the transition process.

How should a SaaS enterprise account executive approach Fifth Third Bank and Comerica after the announced $10.9 Billion acquisition announcement?

A technology SaaS sales rep targeting Fifth Third Bank and Comerica after the $10.9 billion acquisition should focus on integration, scalability, automation, and AI-driven efficiency, as both banks will be navigating one of the largest regional bank mergers of the decade.

Strategic Context: Fifth Third + Comerica Merger

Fifth Third’s acquisition of Comerica will form the 9th largest U.S. bank with approximately $288 billion in assets, operating in 17 of the 20 fastest-growing U.S. markets including Texas, California, and the Southeast. The integration will combine Fifth Third’s retail and digital banking strengths with Comerica’s commercial and middle-market expertise, creating a major focus area on IT consolidation, digital integration, data governance, and customer experience optimization.

Sales opportunities naturally center on:

• Core banking and application modernization
• Data orchestration and cloud integration
• AI tools for analytics, compliance, and productivity
• Cybersecurity and identity management
• Customer experience automation across retail and commercial divisions

Jude Schramm (CIO, Fifth Third Bank)

Jude Schramm has prioritized cloud migration (AWS partnership), AI integration, and agile modernization, emphasizing scalable, secure, and employee-empowering solutions rather than massive in-house builds. He drives technology that simplifies operations and accelerates decision-making — such as deploying Microsoft Copilot and GitHub Copilot to thousands of workers, and experimenting with fintech collaborations for embedded finance.

Resonating Value Propositions for Schramm:

• AI-powered productivity and process automation: Highlight tools that improve internal efficiency and compliance accuracy while reducing manual workload.
• Data orchestration and governance platforms: Offer solutions that support distributed, real-time data environments, aligning with Fifth Third’s plan to manage 80% of its data externally by 2028.
• Integration management platforms: Propose cloud-native systems that simplify Comerica integration while maintaining resilience and risk controls.
• Buy-over-build enablement: Stress rapid, secure deployment and third-party reliability; Schramm prefers buying best-in-class SaaS to accelerate innovation.

Bruce Mitchell (CIO, Comerica Bank)

Bruce Mitchell has led Comerica’s technology transformation through aggressive platform modernization, agile scaling, and cost optimization initiatives. He focuses on data-driven customer experiences, program efficiency, and talent transformation across the enterprise. With the acquisition, he will likely concentrate on system harmonization and IT rationalization to align with Fifth Third’s digital ecosystem.

Resonating Value Propositions for Mitchell:

• Agile integration and DevOps acceleration: Tools that help maintain delivery velocity during M&A systems migration.
• Digital transformation readiness: Offer API-based SaaS products that align legacy Comerica applications with Fifth Third’s modern data infrastructure.
• Cost optimization analytics: Emphasize SaaS tools that provide performance monitoring, financial forecasting, and process visibility across business units.
• Employee enablement and talent retention solutions: Highlight collaboration and upskilling platforms that sustain culture through transition.

Sales Entry Points and Timing

Short-Term (0–6 months)

• M&A due diligence integration (vendor consolidation, shared infrastructure governance)
• Cybersecurity reviews and third-party risk re-evaluation
• Early communication platforms for employee alignment

Mid-Term (6–18 months)

• Data center consolidation and migration to cloud
• AI-powered process orchestration and ERP/CRM alignment
• Shared compliance and risk analytics adoption (e.g., RegTech SaaS)

Long-Term (>18 months)

• Reinvention of customer journeys across retail, commercial, and wealth segments
• Predictive analytics for portfolio management and client engagement
• Advanced automation tools for AI-driven credit decisioning, onboarding, and personalization
  

A strategic SaaS seller should position around accelerating post-merger technology harmonization, AI-powered operational intelligence, and hybrid-cloud integration efficiency, crafting messaging directly tied to Schramm’s AI-driven transformation strategy and Mitchell’s modernization roadmap.

Does Databahn offer a deep dive account intelligence report on Fifth Third Bank and Comerica Bank?

Yes, Databahn offers a deep dive on Fifth Third Bank and a separate report on Comerica Bank. After the merger is complete and settled, we will offer a single report on the new organization in the future.

Summary

This acquisition marks a watershed moment for both Fifth Third Bancorp and Comerica Bank, offering their combined clientele more robust banking services, enhanced technological solutions, and a stronger geographic footprint throughout America’s high-growth and heartland regions. The transaction will require careful regulatory review, employee and customer integration, and prudent management, but the firms are confident they will emerge as a banking powerhouse in the coming years—ready to invest, innovate, and lead in the evolving landscape of U.S. financial services.