Market Overview

Fifth Third Bank Extends More Than $13 Billion in Credit to Business Customers

CINCINNATI--(BUSINESS WIRE)--

Fifth Third Bank announced today that it has extended more than $13 billion in new and renewed credit to business customers from October through December 2012. During 2012, Fifth Third Bank lent nearly $34 billion to businesses throughout its footprint.

“Fifth Third is focused on actively listening to our business customers to help address their changing needs,” said John Bultema, executive vice president and head of Business Banking for Fifth Third Bank. “We remain committed to providing credit and financial services to help businesses within our footprint expand and create jobs.”

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

  • Electro Prime Group, LLC, a parts assembly and metal coating company headquartered in Toledo, Ohio. The company received the first United States Small Business Administration (SBA) CAPLines Program loan offered from Fifth Third Bank. This loan will help Electro Prime finance short-term and cyclical working capital needs. Electro Prime also secured an additional SBA loan and treasury management, commercial card and deposit account services from Fifth Third.
  • Kelsey Construction, LLC, a Shepherdsville, Ky. construction company that specializes in industrial, commercial and public projects. The company secured a revolving line of credit, an equipment loan and a commercial card program with Fifth Third Bank to help the business grow market share.
  • Midstate Industrial, Inc., a Kennesaw, Ga.-based company that provides equipment to industrial and healthcare systems serving U.S. and global government entities. The company received a SBA Patriot Express loan from Fifth Third Bank. The loan helped Midstate Industrial access the capital needed for future growth plans. The company also secured merchant services and a treasury management program through the Bank.
  • Schiel School Project, a joint venture between two Cincinnati-based property developers, North American Properties and Uptown Rental Properties. Fifth Third Bank provided a loan to the developers to support the project, which will include mixed use development in the Uptown area of urban Cincinnati.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $122 billion in assets and operates 15 affiliates with 1,324 full-service Banking Centers, including 106 Bank Mart® locations open seven days a week inside select grocery stores and 2,409 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 33% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2012, had $308 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® National Global Select Market under the symbol "FITB." Lending is subject to credit review and approval. Fifth Third Bank. Member FDIC.

Fifth Third Bank
Barbara Grimsley, 513-534-6791

 

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