New Era for regional bank consolidation: Fifth Third to acquire Comerica 💰🏦; Coinbase is pursuing federal trust charter 👀🪙
FinTech is Eating the World, 8 October
Hey Everyone,
Good morning & happy Wednesday! Today, all eyes are on Fifth Third acquiring Comerica (what the biggest bank merger of the year is all about & why it signals new era for regional bank consolidation, what to expect next + bonus M&A resources inside), and digital asset giant Coinbase, which is now pursuing federal trust charter (why it matters & what it means for Coinbase + more bonus dives into Coinbase & co. inside). So let’s just jump straight into the interesting stuff 🌶️
New Era for regional bank consolidation: Fifth Third to acquire Comerica 💰🏦
The news 🗞️ Fifth Third Bancorp FITB 0.00%↑ just announced its agreement to acquire Comerica CMA 0.00%↑ bank for approximately $10.9 billion in an all-stock transaction, marking the largest bank merger of the year and potentially signaling a broader wave of industry consolidation.
The deal will create the 9th-largest bank in the United States with roughly $288 billion in combined assets. Not too shabby!
Let’s take a look at this, understand why it matters, and see what’s next.