Fifth Third Bank and Dallas-based Comerica on Monday finalized their $10.9 billion merger, creating the nation’s ninth-largest bank and expanding Fifth Third’s footprint in Texas.
Cincinnati-based Fifth Third Bancorp said the combined company will have $294 billion in assets following the merger with Comerica, according to a company release.
“We are thrilled to announce we have closed our merger with Comerica,” said Tim Spence, chairman, CEO and president of Fifth Third. “This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities. Together, we are creating a stronger, more diversified bank that is well-positioned to deliver exceptional value for our shareholders, customers, communities and teammates – starting today, and over the long-term.”
The deal follows layoffs of 184 Comerica employees at its Frisco location. It remains unclear whether additional Dallas-area employees could be affected by future job cuts.
Comerica reported more than $5 billion in local deposits as of June 2025, according to the Dallas Business Journal. The bank currently operates 101 branches in Texas, including 51 in the Dallas-Fort Worth area. Bank officials say integration teams will continue working closely together to ensure a seamless transition for customers.
Fifth Third said it plans to open 150 new branches in Texas by 2029 as part of its expansion strategy.
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