Fifth Third Bancorp Extended $6.0 Billion in Credit in September
Fifth Third Bancorp (NASDAQ: FITB), in conjunction with the U.S. Treasury, has announced that it extended $6.0 billion in loans in the month of September.
"While overall loan demand remains soft, during the month of September Fifth Third Bank extended $6.0 billion in loans to qualified business and consumer borrowers," said Kevin T. Kabat, chairman, president and CEO of Fifth Third Bancorp.
Some highlights include:
- New commercial & industrial commitments increased to $846 million, compared to $780 million in August.
- Renewal levels for existing C&I accounts grew to $2.1 billion from $1.6 billion in August.
- Loans to small businesses increased $148 million in September to $393 million.
- New credit card extensions in September were $124 million, an increase of $17 million over August.
- Total mortgage loan originations were $1.4 billion, driven by over $900 million of refinancing activity and nearly $500 million of new home purchases.
For more information about Fifth Third's lending activities and mortgage assistance programs visit our Web site.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $111 billion in assets, operates16 affiliates with 1,306 full-service Banking Centers, including 101 Bank Mart® locations open seven days a week inside select grocery stores and 2,360 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2009, had $184 billion in assets under care, of which it managed $25 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 on the NASDAQ® National Global Select Market under the symbol "FITB." Fifth Third Bank, Member FDIC.