Fifth Third has announced plans to acquire Comerica in an all-stock transaction valued at about USD 10.9 billion, a move that would create the ninth-largest bank in the US.
The merger, which still requires regulatory clearance, is the largest US banking deal so far this year and signals renewed momentum in regional bank consolidation. According to Reuters, Comerica shareholders will receive 1.8663 shares of Fifth Third for each Comerica share, valuing the deal at USD 82.88 per share based on Fifth Third’s recent closing price. Upon completion, the combined institution will hold roughly USD 288 billion in assets, USD 224 billion in deposits, and USD 174 billion in loans. It’s worth noting that Comerica shareholders will own approximately 27% of the new entity.
Merger reflects regulatory and market shifts
Representatives from Comerica noted that recent changes in the regulatory environment have made merger activity more viable, with the current administration seeking to ease approval procedures. The talks reportedly progressed within a few weeks. Officials from both banks expressed confidence that the merger would gain regulatory approval after due diligence is completed.
The combination expands Fifth Third’s influence across 17 of the 20 fastest-growing US markets, including parts of Texas, California, and the southeast. Over half of the merged bank’s branches are expected to be located in these areas by 2030.
Analysts have suggested that the transaction underscores a trend of regional banks seeking scale to better compete with national players. Market observers expect further consolidation among mid-sized lenders, particularly those with assets below USD 100 billion. The deal is projected to close by the end of the first quarter of 2026, pending regulatory approval.
