Fifth Third Bancorp

Midwest contender

Fifth Third Bancorp began its existence in 1858 as the Bank of the Ohio Valley.  In 1871, the Bank of the Ohio Valley was acquired by the Third National Bank, and in 1908, the combined company decided to merge with The Fifth National Bank, creating the Fifth Third National Bank of Cincinnati.  The name was subsequently changed to its current form.   Fifth Third's recent acquisitions include the June 2008 purchase of First Center Corporation, the May 2008 buy of nine First Horizon branches, the November 2007 acquisition of R-G Crown Bank and the January 2006 purchase of Card Management Corporation.

Today, Fifth Third Bancorp (whose logo is "5/3") is a diversified financial services company headquartered in Cincinnati, Ohio.  As of March 2010, it had $113 billion in assets, and operated through had 16 affiliate companies and 1,306 full-service banking centers in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina.  Fifth Third operates four main businesses: commercial banking, branch banking, consumer lending and investment advisors.  Fifth Third also has a 49 percent interest in Fifth Third Processing Solutions, LLC.

In 2010, Fifth Third ranked No. 248 on the 2010 Fortune 500 and No. 387 on the Forbes Global 2000.  Among the largest money managers in the Midwest, Fifth Third had $190 billion in assets under management as of March 31 2010.  Investor information and press releases can be viewed at www.53.com.  Fifth Third's common stock is traded on the Nasdaq National Global Select Market under the symbol "FITB."

Working its way up

In terms of diversity, the company is "great at the lower levels, but at the upper levels it is more typical of a Midwestern good-old boys' club."  Mostly, however, diversity with respect to women and minorities gets decent marks from contacts.  Another source says that the firm "is very focused on diversity," but a different contact feels that "the firm doesn't take diversity very seriously."

 

 

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Fifth Third Bancorp


Fifth Third Center
38 Fountain Square Plaza
Cincinnati, OH 45263
Phone: (513) 534-5300
www.53.com

STATS


  • Employer Type: Public
  • Stock Symbol: FITB
  • Stock Exchange: NASDAQ
  • Chairman, President, & CEO: Kevin T. Kabat
  • 2010 Employees: 21,901

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