Fifth Third Bancorp is moving into the next phase of its Comerica integration, with management focused on converting cost savings into growth opportunities. Speaking at the Barclays 24th Annual Global Financial Services Conference, CFO Bryan Preston reaffirmed that FITB remains on track to deliver $850 million in annualized expense synergies by the fourth quarter of 2026, with the savings expected to support earnings in 2027. Rather than allowing the full benefit to flow through earnings, Fifth Third plans to reinvest a portion in branches, marketing and sales, particularly across the Southwest and California, accelerating branch openings to roughly 100 annually from about 50, with plans to open 150 new financial centers in Texas by 2029 and to target approximately 1,750 branches by 2030. The update comes shortly after the completion of the Comerica technology and brand conversion of approximately 600,000 Comerica customer accounts and 293 banking centers on Sept. 8, giving FITB a unified platform supporting more than $300 billion in assets, nearly 1,500 branches and operations across 17 of the 20 fastest-growing large U.S. metropolitan areas. Beyond cost savings, management expects more than $500 million in revenue synergies over the next three to five years, with the Comerica franchise adding a commercial loan portfolio that represents nearly 40% of FITB's total commercial loan book, and the bank also sees consumer cross-selling opportunities in mortgage, home-equity and wealth-management products.
Fifth Third BancorpFITB reaffirmed $850M annualized expense synergies from the Comerica integration and expects $500M+ in revenue synergies, supporting earnings.
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