Company News »

Fifth Third Bank Extends More Than $8.5 Billion in Credit to Business Customers

Business Wire
Share on StockTwits
Published on

Fifth Third Bank announced today that it has extended more than $8.5 billion in new and renewed credit to business customers from July through September 2014. Fifth Third Bank loaned more than $14 billion to businesses throughout its footprint during the first two quarters of 2014.

Companies that received loans from Fifth Third Bank during this time period include:

  • Berry Plastics Group, Inc., a leading provider of plastic consumer packaging and engineered materials delivering customized solutions to its customers. Headquartered in Evansville, Indiana, Berry secured a trade finance credit facility to enhance working capital.
  • Central Site Development LLC, a site development company specializing in excavation, underground utilities, sewer, water and reclaimed storm drainage, and road paving for commercial and residential properties. The company based in Lakeland, Florida, secured a revolving line of credit, term loan and demand deposit account (DDA).
  • Iglesia Hispana de Nashville, the largest Hispanic church in Nashville, Tennessee, with more than 3,000 members. Iglesia Hispana de Nashville secured a construction loan to expand its sanctuary.
  • Westplan Investors, a privately held company headquartered in Atlanta that owns more than 8,000 units and a commercial portfolio of approximately 850,000 square feet in metropolitan markets in the southern United States. The company secured a construction loan to develop a 310-unit apartment building project in Atlanta.

“This is a small sample of the type of loans we’ve made to help businesses expand, hire new employees or better serve the people of their communities,” said Greg Kosch, executive vice president and head of the Wholesale Bank for Fifth Third. “Fifth Third has a strong history of lending to qualified borrowers and providing comprehensives solutions to meet the needs of our clients.”

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $134 billion in assets and operates 15 affiliates with 1,308 full-service Banking Centers, including 102 Bank Mart(R) locations, most open seven days a week, inside select grocery stores and 2,639 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 September 30, 2014, had $303 billion in assets under care, of which it managed $26 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(R) Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC.

Share on StockTwits