Fifth third bank
Here we are talking about the public company of America that is well known for its banking financial services for the past 160 years.
The bank is headquartered in Cincinnati, Ohio with 18,000 + employees at work. It is now working as the subsidiary of Fifth Third Bancorp, a bank holding company.
The net income of the company is $2.194 billion as calculated in the financial year of 2017. It also got ranked at 389th position on the list of Fortune 500.
About its origin
The bank originated in 1858 as Bank of the Ohio Valley in Cincinnati which overtook Third National Bank in 1871 and later merged with Fifth National Bank in 1908 thereby changing its name to Fifth-Third National Bank of Cincinnati.
For years the battle on name continued and it ended in 1969 when Fifth Third bank was chosen as the final.
Later the bank expanded its business by acquiring ventures like Cumberland Federal Bancorp, Kentucky Enterprise Bancorp, W. Lyman Case & Company, Enterprise Federal Bancorp, Emerald Financial, Ashland Bankshares, Bank of Ashland, South Florida Bank Holding, Peoples Bank Corporation of Indianapolis and many more thus turning out one as the largest of all in banking sector.
What makes them special?
They are more focused on improving the lives of people in the community through financial empowerment and are also working well on anti-money laundering and economic sanction compliances.
They are specialized in commercial banking, branch banking, consumer lending, and investment advisors. Aside from this, they have a strong branch network across 10 states in the Midwest, south, and southeast.
But they charge expensive fees on checking accounts and overdrafts whereas saving, checking and certificate accounts have low-interest rates when compared to other banks.
In service, they offer over 55,000 ATMs across the country and even don’t charge any minimum deposit needed to open the account.
Are there any cons about bank?
Yes, they charge with $11 monthly fee and there are seven ways to waive it as follows;
• Have at least $1500 in all Fifth Third accounts
• Spend at least $500 per month on the bank’s credit card
• Have a Fifth Third mortgage auto loan or line of credit
• Be a current or former member of the military with $500 monthly direct deposit
• Participate in the bank’s benefits program and receive a $500 monthly direct deposit.
• Have a valid student ID
• Have a bank’s business checking accounts
In the end, we can say it is in the list of largest banks in the United States and is also best in providing quality service in banking.
References
https://en.wikipedia.org/wiki/Fifth_Third_Bank
https://www.53.com/content/fifth-third/en.html