Fifth Third Bancorp announced Monday it will acquire Comerica in a $10.9 billion all-stock deal, creating one of the largest U.S. banks by assets.
Once completed — expected in the first quarter of 2026 — the merger will form the ninth-largest U.S. bank with approximately $288 billion in total assets.
“This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities,” said Fifth Third CEO Tim Spence.
Comerica shares surged 11.5% in premarket trading following the announcement, while Fifth Third fell around 3%.
Comerica CEO Curt Farmer said the merger will strengthen their ability to serve clients: “Joining with Fifth Third – with its strengths in retail, payments, and digital – allows us to build on our leading commercial franchise and further serve our customers with enhanced capabilities across more markets.”The SPDR S&P Regional Banking ETF (KRE) rose 1% in early trading amid expectations the deal could spark a wave of regional bank mergers, particularly as the Trump administration and Republicans move to ease regulations and takeover scrutiny.