Fifth Third Bancorp to buy Comerica for $10.9 billion in all-stock deal
Fifth Third Bancorp said Monday it will acquire fellow regional bank Comerica
for $10.9 billion in an all-stock deal that will create one of the largest U.S. banks by assets.
When the deal closes, it will create the ninth-largest U.S. bank — with roughly $288 billion in assets. The transaction is expected to finalize in the first quarter of 2026.
“Squawk Box” in an interview Monday. “What’s defined Comerica is an incredible middle-market commercial banking platform, and the access that Comerica has to high growth markets like Texas and large economies like California.”
Spence said the bank intends to build 150 branches in Texas and “move into a top five position in Dallas, Houston and Austin.”
“In an environment where merger approvals are coming faster, it builds our confidence,” he said. “Regulators believed we had the capacity to run a much larger bank.”
Comerica shares rallied about 15% in early trading following the announcement. Fifth Third traded slightly lower.
The SPDR S&P Regional Banking ETF (KRE) jumped 1% in premarket trading on expectations this deal will be the start of many more in the reginal banking space as the Trump administration and Republicans ease regulations and takeover scrutiny.
Source: CNBC
