Fifth Third Bancorp has announced plans to acquire Comerica Inc. in an all-stock deal worth $10.9 billion, marking one of the biggest U.S. regional bank mergers in recent years. The move will create the ninth-largest bank in the country, signaling a major shift in the regional banking landscape.
Under the agreement, Comerica shareholders will receive 1.8663 Fifth Third shares for each Comerica share, giving them nearly 27% ownership in the combined company. The merger is expected to close in early 2026, pending regulatory and shareholder approval.
Once the deal is finalized, Fifth Third CEO Tim Spence will lead the merged entity, while Comerica CEO Curt Farmer will become vice chair. Peter Sefzik, Comerica’s chief banking officer, will take charge of the combined bank’s wealth and asset management division.
The merger aims to strengthen Fifth Third’s footprint in key growth markets like Texas, Arizona, and California, while expanding its corporate banking and payments services. Analysts say the deal should boost profitability and efficiency without hurting existing shareholder value.
This merger could set the tone for more large-scale deals in the banking sector, as mid-sized lenders seek scale and stability in a fast-changing financial environment.
