Fifth Third Bank Extends More Than $7.1 Billion in Credit to Business Customers
Cincinnati – Fifth Third Bank announced today that it has extended more than $7.1 billion in new and renewed credit to business customers from April through June 2014. Fifth Third Bank loaned more than $6.9 billion to businesses throughout its footprint during the First Quarter of 2014.
Companies who have received loans from Fifth Third Bank during this time period include:
- Sim-Lohman, the Midwest's largest distributor of cabinets and fabricator of counter tops. The Cincinnati, Ohio based company secured a line of credit and term loan used to fund five acquisitions over recent months.
- Mansfield Oil Company, a national leader in the dynamic North American energy supply, logistics and services enterprise, is focused on partnering with clients to provide innovative, technology-based solutions to support their energy supply chain. The fuel company received working capital financing to help meet its strategic business goals.
- Community Action Stops Abuse, Inc. (CASA), a Florida based non-profit organization that supports victims of domestic violence. CASA received loan financing for a new 100 bed shelter in St. Petersburg, Florida.
- Kentec, Inc., a distributor of commercial quality tools located headquartered in Georgia. Kentec secured a revolving line of credit, Commercial Real Estate loan and purchasing card solution.
- Broadstar Equity, a private cable operator providing cable, internet and phone service to high density properties based in West Palm Beach, FL. Broadstar received a term loan to consolidate existing debt and revolving line of credit. In addition they received a commercial card, lockbox and other treasury services.
"Fifth Third remains dedicated to providing business access to credit," said Greg Kosch, executive vice president and head of the Wholesale Bank for Fifth Third. "We will continue to work with qualified businesses to help them expand and generate jobs."
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $133 billion in assets and operates 15 affiliates with 1,309 full-service Banking Centers, including 102 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,619 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 22.8% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2014, had $305 billion in assets under care, of which it managed $27 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® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC.