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Fifth Third Bank Extends More Than $11.4 Billion In Credit To Business Customers

Stocks in this article: FITB

Fifth Third Bank announced today that it has extended more than $11.4 billion in new and renewed credit to business customers from April through June 2013. During the first six months of 2013, Fifth Third Bank lent more than $19.1 billion to businesses throughout its footprint.

“The needs of today’s business owners continue to change. Fifth Third works closely with customers to understand their credit needs and find the right financing solutions to meet their unique business goals,” said John Bultema, executive vice president and head of Business Banking for Fifth Third Bank.

Companies who have received loans from Fifth Third Bank during this time period include:

  • Genova Diagnostics, Inc., a medical laboratory that specializes in personalized medicine and wellness programs headquartered in Asheville, N.C. The company received an incremental term loan to help meet its strategic business goals.
  • PillGuard Medication Delivery Systems, LLC, a Louisville, Ky.-based manufacturer of a prescription delivery device system. The company secured a term loan and treasury management program from Fifth Third to help finance continued growth.
  • Wen Lake Corporation, a Lakeland, Fla., company that owns a national restaurant franchise. The company received a U.S. Small Business Administration (SBA) loan, deposit services and a treasury management program to help manage cash flow and improve access to working capital.

“Fifth Third remains committed to lending to qualified borrowers throughout our footprint,” said Greg Kosch, executive vice president and head of Commercial Banking for Fifth Third Bank. “We are focused on providing both our large and small business customers a personalized approach to lending to help them expand and create new jobs.”

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $123 billion in assets and operates 18 affiliates with 1,326 full-service Banking Centers, including 104 Bank Mart® locations open seven days a week inside select grocery stores and 2,428 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 28% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2013, had $313 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® National Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Lending is subject to credit review and approval. Fifth Third Bank. Member FDIC. Equal Housing Lender.



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