Submitted by Fifth Third Bancorp
Fifth Third Bank, National Association has received an “Outstanding,” the highest rating possible, on its most recent Community Reinvestment Act performance examination1 from the Office of the Comptroller of the Currency. Fifth Third received “Outstanding” ratings on each of the examination’s three tests: Lending, Investment and Service.
“Strong banks need strong communities to succeed. Improving the well-being of the communities where we live and work is foundational to who we are as a bank,” said Tim Spence, president and CEO, Fifth Third. “This ‘Outstanding’ rating from the OCC reflects that commitment.”
The examination period was Jan. 1, 2017, to Dec. 31, 2021, and was the first for Fifth Third under the OCC. The Bank converted from an Ohio state-charted bank to a national bank in 2019. Its last CRA rating also was “Outstanding” for the most recent exam conducted by the Federal Reserve Bank of Cleveland in 2018.
During the majority of the exam period, Fifth Third was focused on delivering its five-year, $32 billion Community Commitment,* designed to address major areas of need across our footprint. In 2021, the Bank announced that it surpassed its goals and delivered $41.6 billion in community support from 2016 to 2020, including $16.3 billion in mortgage lending, $12.6 billion in small business lending and support, and $12.6 billion in community development lending and investments. It also included $378 million in impact initiatives and programming, including $112.9 million in Community Commitment-related grants.
Kala Gibson, chief corporate responsibility officer, said, “We are proud of the work we’ve done to help address the wealth gap, build affordable housing, provide essential job training and financial education, and create opportunities for transformational, generational wealth. However, the job is far from complete. We are actively changing lives one neighborhood at a time and developing communities to create long-term, sustainable growth for individuals, families and small businesses.”
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Member FDIC.
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1The hyperlinked text directs to a summary of the CRA performance examination on 53.com.
*The Community Commitment was originally announced as a $27.5 billion initiative in 2016 and was increased to $30 billion and then $32 billion in part due to Fifth Third’s acquisition of MB Financial and its planned expansion in Chicago.
Stacie Haas (Media Relations)
Stacie.Haas@53.com | 513-534-5113
Chris Doll (Investor Relations)
Christopher.Doll@53.com | 513-534-2345
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of Dec. 31, 2021, Fifth Third had $211 billion in assets and operated 1,117 full-service banking centers and 2,322 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. 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. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.
Fifth Third’s Purpose is to improve lives and the well-being of its communities by being the One Bank people most value and trust. The Company believes in doing well by doing good and delivering long-term sustainable value to all its stakeholders. Fifth Third is focused on five environmental, social and governance priorities: keeping the customer at the center, demonstrating its commitment to employees, strengthening its communities, promoting inclusion and diversity, and addressing climate change.
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