AP IMPACT: Banks added 10,000 branches in boom Aug 17, 2009
-Fifth Third Bancorp increased its presence in minority neighborhoods by more than half, expanding from 60 offices to 95 branches. Still, only 7 percent of its 1,356 branch offices are in minority areas. (Anchorage Daily News)
Cincinnati Financial downgraded by Fitch Aug 7, 2009
Fitch noted that, as well as the steps the insurer has taken to rebalance its investment portfolio to focus less on the financial sector (Cincinnati Financial had been a major holder of Fifth Third Bancorp stock) and add more high-quality bonds. Fitch also said Cincinnati Financial s capitalization is strong, and it has ample liquidity to meet claim and debt obligations. (Cincinnati Business Courier, OH)
U.S. Stocks Rise as S&P Climbs Above 1,000 for First Time Since November Aug 4, 2009
Office Depot Inc., and Fifth Third Bancorp rallied almost sevenfold or more since the S&P 500 fell to a 12-year low of 676. 53 on March 9. (Bloomberg -- Canada)
Director Barrett Resigns From Fifth Third Bancorp Board Aug 1, 2009
CINCINNATI, July 31 /PRNewswire-FirstCall/ -- Kevin T. Kabat, chairman, president and CEO of Fifth Third Bancorp (Nasdaq: ), today announced that John F. Barrett has resigned from the Bancorp board of directors effective immediately ... Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio ... SOURCE Fifth Third Bancorp. (PR Newswire)
Huntington boosts advisory biz Jul 30, 2009
Evans was employed at Wachovia Corp. in Indianapolis when the bank was taken over by Wells Fargo & Co. Other recent hires include advisers previously employed by National City Corp., which was acquired by PNC Financial Services Group Inc. last year, and Fifth Third Bancorp. Shift to Growth. (Columbus Business First, OH)
* Lending at top US banks slowing: WSJ Jul 28, 2009
The banks surveyed included financial giants such as JPMorgan Chase, Bank of America and Citigroup as well as regional banks such as Fifth Third Bancorp, based in Cincinnati, and Regions Financial Corp of Birmingham, Alabama. The 15 banks hold 47 percent of federally insured deposits and got US$182. (Taipei Times, Taiwan -- World Business)
Lending slowdown in US: report Jul 27, 2009
The banks surveyed include financial giants such as J.P. Morgan Chase, Bank of America and Citigroup as well as regional banks such as Fifth Third Bancorp, based in Cincinnati, and Regions Financial Corp. of Birmingham, Alabama. The 15 banks hold 47 percent of federally insured deposits and got 182. (Yahoo! Asia News)
Markets stall after Thursday run-up Jul 25, 2009
Fifth Third Bancorp, still riding the wave from its Thursday quarterly results that beat expectations, was a big gainer for the day, closing up 6 percent. while E.W. Scripps Co. closed up 19 percent on no news. (Cincinnati Business Courier, OH)
US Financial 15 Split Corp.-Portfolio Update Jul 15, 2009
US Financial 15 invests in a portfolio consisting of U.S. financial services companies primarily, including the following: American Express, Bank of America, Bank of New York Mellon, Citigroup, CME Group, Fifth Third Bancorp, The Goldman Sachs Group, JPMorgan Chase, Morgan Stanley, PNC Bank, Regions Financial, State Street Corp., SunTrust Banks, U.S. Bancorp and Wells Fargo. Contact. (CCNMatthews Press Releases)
Client culture is new Olson focus Jul 14, 2009
Studies of another Olson client, Cincinnati-based Fifth Third Bancorp, found its customers and prospective customers believed in working hard to achieve goals. Olson designed a campaign that stressed stories of people working hard to achieve goals a woman who parked her car 10 blocks from work so she could save money for her son s medical training, for example. (Twin Cities Business Journal, MN)
What Wall Street's Strong Quarter Jul 2, 2009
Shares of Huntington Bancshares (HBAN), a regional bank, jumped more than 160% in the quarter, while another regional bank Fifth Third Bancorp (FITB) saw its shares rise more than 140% in the quarter. Insurance company Genworth Financial (GNW) was the quarters best performer, soaring nearly 275. (Fox News)
Bankers Club closing; no reopening plans for now Jun 27, 2009
But the group would like at some point to work with landlord Fifth Third Bancorp if it can gather a critical mass of like-minded people, Schuck said. They hope that once the club closes, enough members will miss it and be interested in taking action. (Cincinnati Business Courier, OH)
The Next 2 Dividend Blowups? Jun 21, 2009
Despite more than 25 years of consecutive dividend increases under its belt, Fifth Third Bancorp proved unable to shield itself from the industry headwinds this time around and had to cut its dividend last year. High payout ratioA company's payout ratio -- usually calculated as dividends divided by net income -- is one of the most commonly used metrics to determine whether it can afford to continue paying its dividend at the same rate. (MSNBC -- Business)
Standard & Poor's cuts ratings on 18 banks Jun 18, 2009
Ratings were also cut on Associated Banc , Astoria , Carolina First Bank, Citizens Republic Bancorp , Comerica , Fifth Third Bancorp , Huntington Bancshares , KeyCorp , Susquehanna Bancshares , Synovus Financial , U.S. Bancorp, Webster , Whitney Holding and Wilmington Trust. The ratings of Carolina First Bank, Citizens Republic Bancorp, Huntington Bancshares, Synovus Financial and Whitney Holding were cut to junk status from investment-grade levels. (USA Today -- Money)
Split Decision for Stocks Jun 18, 2009
Financial stocks were the biggest drags on the markets after Standard & Poor's cut its credit ratings on a slew of banks, including Wells Fargo (WFC), U.S. Bancorp (USB), Key Corp. (KEY) and Fifth Third Bancorp (FITB). The ratings company warned of increased risks due to a transition period for the industry. (Fox News)
JSE opens flat on strong rand Jun 16, 2009
Dow Jones Newswires reported that US stocks rose and the major indices closed at or near highs for the year as interest-rate fears receded and banking stocks such as Bank of America and Fifth Third Bancorp returned to favour. The rally wilted in the last half-hour, however, as the weakness of consumer stocks suggested growing concern about oil prices standing at a seven-month high. (Business Report, South Africa)
This Mistake Could Cost You a Fortune May 31, 2009
Fifth Third Bancorp (Nasdaq: FITB). (81%). (MSNBC -- Business)
Banks earned $7.6 billion in first quarter after record loss in fourth May 29, 2009
SunTrust Banks Inc. of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati; and PNC Financial Services Group Inc. of Pittsburgh. The tests were a key part of the Obama administration's plan to fortify the financial system. (Madison Daily Leader, SD)
2-Star Stocks Poised to Plunge: Fifth Third? May 28, 2009
Based on the aggregated intelligence of 130,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, regional bank Fifth Third Bancorp (Nasdaq: FITB) has received a distressing two-star ranking. With that in mind, let's take a closer look at Fifth Third's business and see what CAPS investors are saying about the stock right now. (MSNBC -- Business)
Today's hottest alerts include: HAYZ, XOMA, HBAN, FITB, OCNF, INSM May 23, 2009
Today's focused alerts include: Hayes Lemmerz International Inc (Nasdaq:), XOMA Ltd (Nasdaq:), Hutington Bancshares Inc (NASDAQ:), Fifth Third Bancorp (NASDAQ:), OceanFreight Inc (NASDAQ:), Insmed Inc (NASDAQ: ). UnrealStocks. (PR Newswire)
Dow Sinks 130 as Bears Feast on Ratings Fears May 22, 2009
Existing users please login. Remember me on this computer. (Fox News)
Regions outlines details of $1B stock sale May 22, 2009
The bank s closest peers, Atlanta s SunTrust Banks Inc. and Cincinnati s Fifth Third Bancorp. were also told to raise additional capital. (Birmingham Business Journal, AL)
Worries over persistent job losses pound stocks May 22, 2009
Fifth Third Bancorp fell 76 cents, or 9. 9%, to $6. (USA Today -- Money)
Help Wanted: Bank Boards Seeking Competent Directors May 21, 2009
Fifth Third Bancorp, which was deemed to need an additional $1. 1 billion in capital in the government's recent stress test, has no independent directors on its board with prior experience working at a bank. (Time.com)
Ahead of the Bell: Fifth Third Bancorp May 21, 2009
NEW YORK -- Shares of Fifth Third Bancorp fell in premarket trading Thursday, a day after the regional bank announced a stock offer and debt exchange program to help boost its capital base. After the market closed Wednesday, the Cincinnati-based bank said it will raise $750 million through the issuance of new common stock. (Fresno Bee -- Business)
Fifth Third Plans $750 Million Stock Offer May 21, 2009
Fifth Third Bancorp said Wednesday it will sell no more than $750 million in common stock as part of the company's commitment to add a $1 ... Earlier this month, Fifth Third Bancorp said it would add $1 ... Cincinnati-based Fifth Third Bancorp is a diversified financial services company. (ABC News -- Wire)
Regions, Fifth Third Selling Stock to Add Capital May 21, 2009
NEW YORK (Reuters) - Regions Financial Corp priced a stock offering and Fifth Third Bancorp announced plans to follow suit on Wednesday, the eighth and ninth of the 10 large U.S. banks ordered by federal regulators to bolster their finances to announce capital-raising plans. Regions, a Birmingham, Alabama lender operating mainly in the southeast, said it sold $1. (ABC News -- Wire)
US stocks cap week of losses May 16, 2009
Zions Bancorporation, Bank of America and Fifth Third Bancorp led declines in 23 of 24 companies in the KBW Bank Index after Bair said some chief executive officers may need to be fired in the next few months. Chevron and Exxon Mobil retreated as oil slid from a six-month high of $US60 a barrel. (Sydney Morning Herald -- Business)
At the water cooler May 16, 2009
When the findings of the government's "stress tests" of 19 financial institutions were released Thursday, Cincinnati-based Fifth Third Bancorp was shown to need about $1 ... "Fifth Third Bancorp qualifies as the latter.". (Courier-Journal -- Business)
Bank, technology stocks lure in bargain hunters May 15, 2009
Regional banks Fifth Third Bancorp and Huntington Bancshares showed some of the strongest gains. Fifth Third rose 50 cents, or 7. (USA Today -- Money)
Stocks fall on U.S. retail report May 14, 2009
The biggest losers were Air Transport Services Group (NASDAQ: ATSG), off 15 percent, or 17 cents, to 98 cents per share; Fifth Third Bancorp (NASDAQ: FITB), down 15 percent, or $1. 21, to $7. (Cincinnati Business Courier, OH)
3 Banks Plan Stock Offerings To Repay Gov't Funds May 12, 2009
Regional banks Regions Financial Corp., SunTrust Banks Inc., Fifth Third Bancorp, and PNC Financial Services Group Inc. also need to raise funds. The banks will have one month to devise a capital-raising plan and six months to implement it. (Click2Houston, TX)
JSE closes higher May 11, 2009
Last Updated: 07:21am 11 May 2009. 6 18 SPONSORED LINKS. (iAfrica.com)
Stress Test Results, Jobs Data Fuel Big Rally May 10, 2009
eIBD Investor's Business Daily Digital Edition. Access recent eIBD issues easily. (Investors Business Daily)
STRESS TEST LESS: Fed cut banks' deficits after negotiations... May 10, 2009
At Fifth Third Bancorp, the Fed was preparing to tell the Cincinnati-based bank to find $2. 6 billion in capital, but the final tally dropped to $1. (The Drudge Report)
Stocks surge on relief over unemployment, banks May 10, 2009
Regional bank Fifth Third Bancorp soared $3. 14, or 59 percent, to $8. (Atlanta Journal-Constitution -- Business)
Dow ends Friday trading up 164; PNC up 19% May 9, 2009
Dow gains 164 points by Friday close; PNC up 19 percent - Pittsburgh Business Times. for free extra services. (Pittsburgh Business Times, PA)
* US bank stress test results 'not scary' May 9, 2009
The five other firms found to need more of a capital cushion are all regional banks X Regions Financial Corp of Birmingham, Alabama; SunTrust Banks Inc of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati and PNC Financial Services Group Inc of Pittsburgh ... Fifth Third Bancorp advanced 23. (Taipei Times, Taiwan)
More acquisitions, failures in store for US banks May 9, 2009
Meanwhile, foreign banks - notably stable Canadian banks like Royal Bank of Canada, Toronto Dominion and Bank of Montreal - could end up targeting mid-sized banks such as SunTrust Banks Inc. of Atlanta, KeyCorp of Cleveland, or Fifth Third Bancorp of Cincinnati, Ely said. Whether small or large, banks have learned from the recent spate of shotgun match-ups that determining an appropriate acquisition price is key. (Fresno Bee -- Business)
Fifth Third, Key Bank told by Feds to raise more cash May 9, 2009
8 billion and Fifth Third Bancorp $1. 1 billion in the next six months to remain healthy in a worst-case economic scenario, according to the Treasury Department's analysis. (Cincinnati Nation)
U.S. banks rush to raise capital May 9, 2009
The biggest gainer Friday was Cincinnati regional bank Fifth Third Bancorp, which soared 58 ... Cincinnati regional bank Fifth Third Bancorp. (Yahoo News -- Top Stories)
Fed Sees Bank Losses Of Up to $599 Billion... May 9, 2009
The government's tests measured potential losses on mortgages, commercial loans, securities and other assets held by the stress-tested banks, ranging from giants Bank of America Corp. and Citigroup Inc. to regional institutions such as SunTrust Banks Inc. and Fifth Third Bancorp. The government's "more adverse" scenario includes two-year cumulative losses of 9. (The Drudge Report)
10 big banks need to raise $75B in new capital May 9, 2009
SunTrust Banks Inc. of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati; and PNC Financial Services Group Inc. of Pittsburgh. The banks will have until June 8 to develop a plan and have it approved by their regulators. (Honolulu Advertiser)
BofA setting strategy after stress tests May 9, 2009
5 billion), Fifth Third Bancorp (1. 1 billion), KeyCorp (1. (Charlotte Business Journal, NC)
'Stress Test' says SunTrust Short of Cash May 9, 2009
8 billion; Fifth Third Bancorp in Cincinnati needs $1. 1 billion; and Pittsburgh-based PNC Financial Services Group Inc. needs $600 million. (13WMAZ.com, GA)
5/3, PNC, KeyCorp need capital, Fed stress test finds May 9, 2009
Fifth Third Bancorp was one of 10 banks told to raise capital as a result of the U.S. Treasury Department s stress testing of 19 major U.S. banks ... Fifth Third Bancorp, $1. (Cincinnati Business Courier, OH)
Banks unveil cash-raising plans May 9, 2009
8bn Fifth Third Bancorp - $1. 1bn PNC Financial Services - $600m. (BBC News -- Business)
Next shoe to drop? The other real estate market May 9, 2009
Gee, big Ohio lender Fifth Third Bancorp only has to come up with another $1. 1-billion (on top of the $3. (Globe and Mail -- Business)
Viable but vulnerable May 8, 2009
If there is in fact no appetite to let losers fail, then the real losers are the market at large, the government and the taxpayers,"-- Jaidev Iyer, former risk management chief at CitigroupSOURCE: AP WASHINGTON -- Ten of the nation's largest financial firms need to raise $75 billion more to withstand the losses that would come with a deeper recession, the government said Thursday in a report card that found the banking system viable but still vulnerable. The Federal Reserve, issuing the... (Erie Times-News, PA)
Stress tests show 10 big banks must raise total of $75 billion May 8, 2009
Search hundreds of franchises and business opportunities to find the one that is right for you. Quick Request Form: Request information from your favorite franchises and business opportunities. (USA Today -- Money)
Stress Test Results May 8, 2009
NPR: Bank Stress-Test Results. Bank Stress-Test Results. (NPR)
5 Regional Banks Must Raise $8.2B After Tests May 8, 2009
The two regional banks based in the Southeast, Regions Financial Corp. and Suntrust Banks Inc., got bigger capital-raising mandates than the three based in the Midwest Fifth Third Bancorp, KeyCorp and PNC Financial Services Group Inc. Minneapolis-based U.S. Bancorp and BB. in Winston-Salem, N.C., do not need to raise additional money. Regional banks can be bellwethers of the health of their local economies, making loans to businesses and industries in the region, financing development projects... (ABC News -- Wire)
7 Regional Banks Subjected to Federal Stress Tests May 8, 2009
Five of the seven Regions Financial Corp., SunTrust Banks Inc., KeyCorp, Fifth Third Bancorp and PNC Financial Services Group Inc. were found to need more capital. All already have received from funds from the federal Troubled Asset Relief Program, or TARP.. (ABC News -- Wire)
Will More Banks Need More Funds? May 8, 2009
SunTrust Banks Inc. of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati; and PNC Financial Services Group Inc. of Pittsburgh. Among the banks that the government did not ask to raise more capital were JPMorgan Chase brokerage house Goldman Sachs Group Inc., insurer MetLife Inc. and credit card companies Capital One Financial Corp. and American Express Co.. (ABC News -- Wire)
Stress test results provide 'clarity' May 8, 2009
Smaller lenders such as Fifth Third Bancorp, KeyCorp. Regions Financial Corp. and SunTrust Banks Inc. must raise between $1-billion and $3-billion apiece. (Globe and Mail)
Bank stress tests suggest healing May 8, 2009
SunTrust Banks Inc. of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati; and PNC Financial Services Group Inc. of Pittsburgh ... Fifth Third Bancorp advanced 23. (MSNBC -- Race)
Stress tests: U.S. banks urged to raise $75 bln May 8, 2009
Regions Financial Corp., Fifth Third Bancorp, KeyCorp, PNC Financial Service Group Inc. and SunTrust Banks also were told to bolster their reserves. By contrast, Bank of New York Mellon Corp, American Express Co., Capital One Financial Corp, Goldman Sachs Group Inc, JPMorgan Chase & Co., U.S. Bancorp, BB&T Corp., State Street Corp. and MetLife Inc do not need capital. (Xinhuanet, China)
Treasury hangs out Wall Street's dirty laundry May 8, 2009
" The "good" banks:J.P. Morgan Chase Goldman Sachs MetLife Bank of New York Mellon State Street Capital One Financial Corp. American Express BB&T U.S. BancorpThe "bad" banks (followed by the amount of additional capital required by the government):Bank of America: $33.9 billion Wells Fargo: $13 billion GMAC: $11.5 billion Citigroup: $5.5 billion Regions Financial Corp.: $2.5 billion SunTrust: $2.2 billion Morgan Stanley: $1.8 billion KeyCorp: $1.8 billion Fifth Third Bancorp: $1.1 billion PNC... (Salon)
Results of 'stress tests' of 19 financial firms May 8, 2009
Fifth Third Bancorp must raise $1. 1 billion. (San Francisco Chronicle -- Business)
Ten US banks fail 'stress tests' May 8, 2009
8bn Fifth Third Bancorp - $1 ... 8bn), Fifth Third Bancorp ($1. (BBC News -- Business)
Banks' stress tests results May 8, 2009
The remaining stress-tested banks are: Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, GMAC, SunTrust Banks Inc., State Street Corp., Capital One Financial Corp., BB., Regions Financial Corp., Fifth Third Bancorp and Keycorp. Financial stocks surged Wednesday amid reports on the stress tests. (Pocatello Idaho State Journal, ID)
BofA, Citi, Wells need capital under stress tests May 7, 2009
Analysts believe other banks that may need capital include Fifth Third Bancorp, KeyCorp, PNC Financial Services Group Inc and SunTrust Banks Inc.. PRESSURE ON BANK OF AMERICA CEO. (Yahoo News -- Top Stories)
Bank stress tests show some banks need more funds May 7, 2009
The remaining stress-tested banks are: Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, GMAC, SunTrust Banks Inc., State Street Corp., Capital One Financial Corp., BB., Regions Financial Corp., Fifth Third Bancorp and Keycorp. Financial stocks surged Wednesday amid reports on the stress tests. (News & Observer)
3 banks may have passed stress tests May 7, 2009
Analysts believe other banks that may need capital include Fifth Third Bancorp, GMAC LLC, KeyCorp, PNC Financial Services Group Inc., Regions Financial Corp. and SunTrust Banks Inc., according to Reuters. . (MSNBC -- Business)
Results of bank stress tests leak ahead of report May 7, 2009
The remaining stress-tested banks are: Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, GMAC, SunTrust Banks Inc., State Street Corp., Capital One Financial Corp., BB., Regions Financial Corp., Fifth Third Bancorp and Keycorp ... The 19 companies that were tested are: JPMorgan Chase Citigroup Inc., Bank of America Corp., Wells Fargo Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, Bank... (The Star Online, Malaysia)
