Fifth Third Bancorp (based in Cincinnati) has agreed to acquire Comerica Inc. in an all-stock transaction valued at about $10.9 billion. Comerica shareholders will receive 1.8663 shares of Fifth Third for each Comerica share. That values Comerica shares at $82.88 on the Oct. 3 closing price—which is about a 20 % premium over Comerica’s recent 10-day average.
When the deal is completed, Fifth Third shareholders are estimated to own about 73% of the merged entity, with Comerica shareholders holding about 27%. The combined bank would become the ninth-largest U.S. bank by assets, with roughly $288 billion in assets. The deal highlights how U.S. regional banks are seizing opportunities in President Donald Trump’s deregulation era.
It's worth noting that relief on financial rules in the United States are expected to make bank mergers easier to approve as we're seeing in Fifth Third-Comerica merger. Not only that, the merger will also expands Fifth Third’s reach into fast-growing regions, including the Southeast, Texas, Arizona, and California, while reinforcing its strength in the Midwest.
The combined bank will operate in 17 of the 20 fastest-growing U.S. markets, bringing together complementary strengths—Fifth Third’s retail and digital expertise with Comerica’s strong middle-market and commercial banking franchise. The transaction is expected to close by Q1 2026, pending required shareholder and regulatory approvals.
Comerica’s CEO, Curt Farmer, will become Vice Chair of the combined entity. Also, Peter Sefzik—Comerica’s chief banking officer—will lead Fifth Third’s wealth & asset management unit. Three Comerica directors will join Fifth Third’s board. Comerica shares rose strongly on the news (double-digit gains), while Fifth Third’s shares dipped in pre-market trading.
