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Fifth Third Bank Extends More Than $9.3 Billion In Credit To Business Customers

Stocks in this article: FITB

Fifth Third Bank announced today that it has extended more than $9.3 billion in new and renewed credit to business customers from July through September 2013. During the first nine months of 2013, Fifth Third Bank lent more than $28.4 billion to businesses throughout its footprint.

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

  • The Salvation Army in Greater Cincinnati, serving those in need in Cincinnati and Northern Kentucky since 1885. The organization secured construction loan financing for a 96-unit affordable senior housing project located in Cincinnati.
  • Koerner Distributor, Inc., a wholesaler of beer, wine, spirits and non-alcoholic beverages headquartered in Effingham, IL. The company received a term loan, a revolving line of credit, 401(k) retirement services, and a treasury management program from Fifth Third to help meet its strategic business goals.
  • Traditions Senior Management, a Clearwater, Fla.-based owner and operator of skilled nursing facilities throughout the United States. The company secured a loan and a treasury management program to improve access to working capital for operation of its facilities.

“Fifth Third is focused on helping businesses grow and create jobs in our local communities. We actively listen to our customers to understand their goals and provide the right financing solutions to help them succeed,” said Greg Kosch, executive vice president and head of Commercial Banking for Fifth Third Bank.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $126 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 2,374 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 25% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2013, had $318 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® Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC. Equal Housing Lender.

Copyright Business Wire 2010

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