New York, Feb 2, 2026, 10:59 (ET) — Regular session.
- FITB shares climbed roughly 1.5% in morning trading following the bank’s announcement that it completed its merger with Comerica
- SEC filing details share-conversion mechanics for former Comerica holders along with other aspects of the deal
- Attention now turns to how well the integration is carried out before the system and brand conversion slated for later this year
Shares of Fifth Third Bancorp climbed 1.5% to $50.98 Monday morning after the regional bank finalized its merger with Comerica Incorporated. The deal creates the ninth-largest U.S. bank, boasting roughly $294 billion in assets. CEO Tim Spence described the merger as “a pivotal moment” for expanding into faster-growing markets. The SPDR S&P Regional Banking ETF gained 1.7%, with Huntington Bancshares and KeyCorp also posting gains. (Business Wire)
The closing shifts what was a carefully planned expansion into a real operational challenge: juggling systems, customer bases, and expenses. Investors will be closely watching to see if Fifth Third can maintain steady deposits and steer clear of disruptions while merging the two franchises.
Fifth Third disclosed in a U.S. Securities and Exchange Commission filing that the deal closed on Feb. 1. Each Comerica common share converted into the right to receive 1.8663 Fifth Third shares, with cash paid out for fractional shares. The filing also revealed Fifth Third took on about $1.79 billion in Comerica parent notes plus $626 million in bank notes. The bank said it plans to file acquired-business financial statements and pro forma details within 71 calendar days. (SEC)
Comerica Incorporated requested the New York Stock Exchange to halt trading and delist its common and preferred shares ahead of Monday’s open, according to a filing. Fifth Third, as the successor, indicated it will seek to deregister those securities and suspend Comerica’s reporting duties. (SEC)
Fifth Third expanded its board to 16 by adding three former Comerica directors: Derek J. Kerr, Barbara R. Smith, and Michael G. Van de Ven. Spence described the new members as offering a “distinctive combination of leadership and industry experience.” Kerr recently held the role of vice chair at American Airlines Group, while Van de Ven was president and COO at Southwest Airlines Co., the bank noted. (Business Wire)
Fifth Third expects to complete the full system and brand conversion by the third quarter. Until then, Comerica branches will continue to operate under the Comerica name. That timeline is crucial for managing short-term costs, staffing levels, and potential service disruptions.
Since the deal is stock-based, former Comerica shareholders now face FITB’s daily price fluctuations instead of a set cash payout. This usually disrupts merger-arbitrage trades that keep the two stocks closely linked until the deal closes.
Bank shares have tracked changes in rate forecasts closely, given that lenders largely profit from the spread between loan yields and deposit costs. While scale offers an advantage, rising credit expenses can quickly wipe out gains if the cycle reverses.
Integrations rarely go smoothly, and large system overhauls are a common pitfall for lenders. Earnings could come under pressure from delays, customer losses, or costs running above forecasts — all while the merged bank takes on Comerica’s balance sheet and existing credit risks.
Fifth Third is set to update investors on its integration timeline during the BofA Securities Financial Services Conference, where it will speak on Feb. 10 at 2:40 p.m. ET. (53)
