Our history
Our history
In 1858, William W. Scarborough and eleven bold entrepreneurs opened The Bank of the Ohio Valley in Cincinnati, Ohio. Their purpose and promise was noble – to help improve the lives of their customers and communities through sound banking principles and superior service. This unwavering vision remains at the heart of everything we do today.

June 17, 1858
Fifth Third traces its origins back to The Bank of the Ohio Valley which organized in June 1858. Founded by William W. Scarborough, the bank opened on Third Street between Vine and Walnut Streets, then the city’s financial district.
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June 17, 1858
Scarborough and eleven others who opened the bank began with $25,000 in capital stock – a small fortune at the time. Cincinnati’s newest state-chartered bank was located on Third Street where a steady stream of commerce flowed up and down the Ohio River. The Bank of the Ohio Valley stood strong through the Civil War despite having to manage bank notes from the three Union states and one Southern state (Kentucky) that bordered Ohio.

Late 1800s
With no Federal Reserve System in place, Cincinnati banks open and close frequently in the late 1800s and early 1900s. Numerous banks in Fifth Third’s family tree emerged during this time including Queen City National Bank, Market National Bank, Union Savings Bank and Trust, and Third National Bank.
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Late 1800s
The Third National Bank receives Charter Number 20 under the National Bank Act in 1863, and sets up business on Third and Walnut Streets. In 1871, Third National Bank acquires The Bank of the Ohio Valley. By 1882, Third National’s capital is $16 million and is considered the largest bank capital in the state of Ohio. Queen City National Bank changes its name to Fifth National Bank in 1888. Union Savings Bank and Trust Company, organizes in 1890, and is also part of Fifth Third Bank’s family tree, led by Jacob G. Schmidlapp, a name that remains prominent in Cincinnati history and Fifth Third’s philanthropic efforts.

Early 1900s
Numerous banks in Fifth Third’s family tree emerge during this time including Queen City National Bank, Market National Bank, Union Savings Bank and Trust, and Third National Bank.
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Early 1900s
In 1901 Union Savings Bank and Trust President, Jacob G. Schmidlapp, works with architect Daniel Burnham to erect the first skyscraper in Cincinnati and moves the bank to 36 East Fourth Street, now the Renaissance Hotel.
In 1908, Jacob Schmidlapp establishes the Charlotte R. Schmidlapp Fund. It is the United States’ first charitable fund dedicated solely to helping young women pursue their careers.

1920s
In 1927, Fifth-Third National and The Union Trust Company consolidate to become The Fifth Third Union Trust Company, a name that will last through the late 1970s though most Cincinnatians referred to the bank as “Fifth Third.”
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1920s
By 1928, the bank operated 14 branches. Most were concentrated in downtown and nearby neighborhoods.

1930s
The Fifth Third Union Trust Company emerges from the Great Depression as one of the strongest banks in its market, and acquires three smaller banks from 1930 to 1933.
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1930s
On August 23, 1935, President Franklin D. Roosevelt signs into law the Banking Act of 1935 which moves the “Fed” out of the Treasury Department and establishes it as an independent entity that could set reserve requirements and interest rates. The Federal Reserve structure enacted in 1935 is still in place today.

1940s
Fifth Third Union Trust plays a significant role in the War Bond effort for World War II and in supporting U.S. troops at home and abroad.
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1940s
John J. Rowe, President of Fifth Third Union Trust, serves as Chairman of the Fifth War Bond Drive. Employees participate in War Bond Drives, with more than 90 women working during regular banking hours and through the night to clear bonds through the bank on the same day. In 1943 alone, the Bank issues over $90 million in War Bonds, with more than 60,000 bonds inscribed manually. At the end of the war, in 1948, Fifth Third Union Trust creates the Fifth Third Foundation – the first corporate foundation established by a financial institution in the United States.

1950s
This decade marks Fifth Third’s focus on convenience and service. By 1956, Fifth Third Union Trust has 27 offices, including branches located in shopping centers.
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1950s
With World War II over, Fifth Third Union Trust’s vision to modernize branches and become the most convenient bank in Cincinnati began anew in the early 1950s. As the population expands in the suburbs and new interstate highways are built, bank president John J. Rowe begins building branches in growing neighborhoods. In 1954, Western Hills Plaza opens in Cincinnati followed by Swifton Center in 1956.

1960s
Fifth Third continues to expand its branch system and earns the reputation for being the most convenient bank in Cincinnati while also supporting Cincinnati’s redevelopment efforts on Fountain Square.
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1960s
In 1965, The Cincinnati Redevelopment Corporation needs a substantial tenant to trigger downtown revitalization. Fifth Third helps fund a portion of the project in “Block A” bordered by Fifth, Walnut, Vine and Sixth Streets, known as Fountain Square. The bank signs a lease to be the principal tenant of a new six-story building that would come to be known as The Fifth Third Center. The building opens on Fountain Square in 1969, placing Fifth Third at the heart of the city. Fifth Third Union Trust Company officially adopts the Fifth Third Bank and 5/3 shield logo the same year.

1970s
This “can do” decade introduces customers to many firsts for Fifth Third, including JEANIE®- an online automated teller system and first shared ATM network in the United States.
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1970s
Fifth Third forms Midwest Payment Solutions (MPS) in 1971 to provide Electronic Funds Transfer (EFT) services to financial institutions. In 1973, Fifth Third signs Johnny Bench, catcher for the Cincinnati Reds, as its sponsor and spokesperson, and also adopts “Working Hard to Be The Only Bank You’ll Ever Need” as its slogan. The following year, in 1974, Fifth Third Bancorp forms, allowing the bank to open offices in surrounding counties, bringing the total number of branches to 37 by 1976. Then, in 1977, Fifth Third launches JEANIE®, forever transforming banking convenience. (MPS became Vantiv and is now Worldpay.)

1980s
The 80s marks Fifth Third’s greatest period of growth in its history.
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1980s
Fifth Third enters its greatest decade of growth with 88 branches in Ohio. Ten years later, there are 198 Fifth Third branches in Ohio, Kentucky and Indiana. Fifth Third becomes the first in the market to place branches, called Bank Marts, in grocery stores. Open seven days a week, Bank Marts cater to customers’ increasingly busy lifestyles. In 1983, Fifth Third introduces its famous lapel pin, a cultural icon that continues to be a source of pride for employees today.

1990s
Seeking to expand its footprint in other states, Fifth Third enters Naples, Florida where many Midwesterners spend winter months. By 1999, Fifth Third has 384 banking centers in Florida, Ohio, Indiana and Kentucky and debuts on the Fortune 500 list.
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1990s
It’s in this decade that Fifth Third also begins celebrating Fifth Third Day on May 3 (5/3), a tradition that continues today.

2000s
While the national financial crisis looms large in the latter half of this decade, Fifth Third experiences smart growth and expands its services to communities. To accommodate growth in data processing, payments and customer service, Fifth Third opens the George A. Schaefer, Jr. Operations Center in Madisonville.
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2000s
In 2001, Fifth Third acquires Old Kent Bank, creating a strong presence throughout Michigan, a stronger base in Chicago and greater market share across northern Indiana. Fifth Third’s commitment to financial empowerment takes hold in 2005 with the launch of its Lives Improved Through Financial Empowerment® (LIFE) suite of programs including the Young Bankers Club® and the Fifth Third Financial Empowerment Mobiles, called eBuses.

2010s
In 2016, Fifth Third makes a $30 billion Community Commitment over five years to lend or invest in low- and moderate-income (LMI) borrowers and in LMI communities through the year 2020.
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2010s
To continue its heritage of innovation, Fifth Third invested in relationships with several fintechs, including GreenSky, ApplePie, AvidXchange, and Transactis, and expanded its wealth and asset management capabilities by acquiring Retirement Corporation of America, R.G. McGraw Insurance Agency, Epic Insurance, and Integrity HR. Fifth Third launched a new mobile app in 2017, Fifth Third Momentum, to allow customers to automatically round up debt card purchases and apply the funds to pay down student loan debt. Fifth Third also joined the Zelle network to allow customers to make person to person payments through its mobile banking app and online.

Today
With more than 20,000 employees and more than 1,200 banking centers in 10 states, we are proud of our heritage to work hard to improve the lives of our customers, communities and employees. We’re working hard to make banking a Fifth Third better®.
Today
With more than 20,000 employees and more than 1,200 banking centers in 10 states, we are proud of our heritage to work hard to improve the lives of our customers, communities and employees. We’re working hard to make banking a Fifth Third better®.