Fifth Third Bank
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- Date Submitted: 09/23/2013 04:56 PM
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1. DETAILED BACKGROUND of 5/3rd BANK
Fifth Third Bank is one of the leading financial institutions in the United States with $ 117 billion in assets. The bank is operating 1,316 full –service banking centers, functioning 2,300 ATMs throughout its geographical presence, and employing more than 21,000 employees. Fifth Third Bank is operating in 12 States which are Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Missouri, North Carolina, Pennsylvania, Tennessee, and West Virginia. It is headquartered in Cincinnati, Ohio.
Fifth Third Bank is among the top 20 largest bank holding companies in the country. Also, it holds the leading market share of the Midwest market. During the past five years, Fifth Third bank has been building a strong presence in the Southeastern Region with higher growth markets. Thus, Fifth Third Bank has implemented a comprehensive business continuity, back-up, recovery, and archiving solutions in order to be able to protect the financial interests of their customers as well as providing time-sensitive service.
Through history from the 1800s to present, mergers and acquisitions of other banks has been the growth strategy of Fifth Third Bank. Fifth Third Bank started in June 17, 1858 as the Bank of Ohio Valley in Cincinnati. The bank of Ohio Valley was then acquired by Third National Bank in April 29, 1871. In September 28, 1882, the Queen city National Bank was organized only to be renamed again in 1888 as the Fifth National Bank. Later on June 1, 1908, The Third National Bank merged with Fifth National Bank to form the Fifth Third National Bank of Cincinnati. Then in February 23, 1927, The Fifth Third National Bank and The Union Trust Company, which was organized in 1890, were consolidated to have The Fifth Third Union Trust Company. In March 24, 1969, the bank was renamed as the Fifth Third Bank. The Fifth Third Bancorp was incorporated in October 7, 1974. In July 9, 1999, Vanguard Financial Corporation, which was...
Fifth Third Bank is one of the leading financial institutions in the United States with $ 117 billion in assets. The bank is operating 1,316 full –service banking centers, functioning 2,300 ATMs throughout its geographical presence, and employing more than 21,000 employees. Fifth Third Bank is operating in 12 States which are Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Missouri, North Carolina, Pennsylvania, Tennessee, and West Virginia. It is headquartered in Cincinnati, Ohio.
Fifth Third Bank is among the top 20 largest bank holding companies in the country. Also, it holds the leading market share of the Midwest market. During the past five years, Fifth Third bank has been building a strong presence in the Southeastern Region with higher growth markets. Thus, Fifth Third Bank has implemented a comprehensive business continuity, back-up, recovery, and archiving solutions in order to be able to protect the financial interests of their customers as well as providing time-sensitive service.
Through history from the 1800s to present, mergers and acquisitions of other banks has been the growth strategy of Fifth Third Bank. Fifth Third Bank started in June 17, 1858 as the Bank of Ohio Valley in Cincinnati. The bank of Ohio Valley was then acquired by Third National Bank in April 29, 1871. In September 28, 1882, the Queen city National Bank was organized only to be renamed again in 1888 as the Fifth National Bank. Later on June 1, 1908, The Third National Bank merged with Fifth National Bank to form the Fifth Third National Bank of Cincinnati. Then in February 23, 1927, The Fifth Third National Bank and The Union Trust Company, which was organized in 1890, were consolidated to have The Fifth Third Union Trust Company. In March 24, 1969, the bank was renamed as the Fifth Third Bank. The Fifth Third Bancorp was incorporated in October 7, 1974. In July 9, 1999, Vanguard Financial Corporation, which was...