Quick Stats

Type – Public (NASDAQ: FITB)
Founded – 1858 as Bank of the Ohio Valley
Present name acquired June 1, 1908 as the result of merger between Third National Bank and Fifth National Bank
Headquarters – Cincinnati, OH, USA
Key people – Kevin T. Kabat, CEO
Industry – Finance
Products – Banking
Revenue – $8.498b FY2007
Operating income – $1.07b FY2007
Net income – $1.07b FY2007
Employees – 22,000 (2007)
Website – 53.com

History

Fifth Third Bank’s history can be traced back to June 17, 1858, when the Bank of the Ohio Valley opened in Cincinnati. The Third National Bank organized five years later, on June 23, 1863, and on April 29, 1871, the younger bank acquired the older one, beginning a 130-year history of banking acquisitions and mergers, with numerous smaller banks being absorbed and renamed.

Fifth Third’s unusual name is the result of the June 1, 1908 merger of two banks, The Fifth National Bank and The Third National Bank, to become Fifth Third Bank.

Products

The company engages in five main lending and banking practices: Branch Banking, Consumer lending, Commercial Banking, Investment Advisors, and Fifth Third Processing Solutions.

Community Outreach

• The Fifth Third Foundation made grants of over $3.4 million in 2008
• Fifth Third Bancorp funds and staffs a variety of community support projects with the help of employee volunteers, as well as several advocacy groups who support Fifth Third’s community investments.
• The Fifth Third Bank Community Development Corporation invests in community housing and revitalization projects in local neighborhoods
• The Foundation Office helps direct and administer grants of charitable foundations