- Debra DeCourcy, APR (Media) 513.534.4153
Fifth Third Bancorp Receives Approvals On R-G Crown Acquisition
Fifth Third Bancorp (NASDAQ: FITB) today announced that it has received all regulatory approvals it has requested on its pending acquisition of R-G Crown Bank.
“We are happy to announce that we have received approval on all applications we filed with bank regulatory agencies related to our purchase of R-G Crown,” said Kevin T. Kabat, president and CEO of Fifth Third Bancorp. “We are excited to move forward on the integration.”
In May Fifth Third Bancorp announced a definitive agreement with R-G Financial Corporation to acquire R-G Crown Bank, which operates 30 branches in Florida and three in Augusta, Georgia. The acquisition will strengthen Fifth Third Bank’s presence in the Greater Orlando and Tampa Bay markets and also expands the Bank’s footprint into the Jacksonville and Augusta, Georgia markets.
The integration is expected to be finalized in November.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $101 billion in assets, operates 18 affiliates with 1,181 full-service Banking Centers, including 104 Bank Mart® locations open seven days a week inside select grocery stores and 2,153 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania and Missouri. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2007, has $232 billion in assets under care, of which it managed $34 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 through the NASDAQ® National Global Select Market System under the symbol “FITB.”