Fifth Third Bank Extends More Than $7.6 Billion in Credit to Business Customers

Business Wirevia The Motley Fool
Updated

Fifth Third Bank Extends More Than $7.6 Billion in Credit to Business Customers

CINCINNATI--(BUSINESS WIRE)-- Fifth Third Bank announced today that it has extended more than $7.6 billion in new and renewed credit to business customers from January through March 2013.

"We are focused on listening to our customers to understand their businesses and changing needs," said John Bultema, executive vice president and head of Business Banking for Fifth Third Bank. "Fifth Third works closely with customers to provide credit and financing services to fit their business strategy and help them expand and generate jobs."


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

  • Acadia Healthcare, Inc., a Franklin, Tenn.-based provider of behavioral health treatment facilities for children, adolescents, adults and seniors. The company secured a revolving line of credit, a term loan, commercial card services and a treasury management program from Fifth Third Bank to help meet its strategic business goals and finance continued expansion and growth.

  • CGM Services, Inc., a heating, ventilation and air conditioning (HVAC) maintenance and service provider headquartered in Tampa, Fla. The company received a revolving line of credit and a commercial mortgage from Fifth Third. These loans will allow CGM Services to expand its marketing strategy and gain market share.

  • Omnipoint, Inc., a technology consulting firm headquartered in Sandy Springs, Ga. The company secured a short-term loan from Fifth Third to help manage cash flow and improve access to working capital for a strategic business initiative.

"Fifth Third believes businesses, both large and small, play a key role in our continued economic recovery," said Greg Kosch, executive vice president and head of Commercial Banking for Fifth Third Bank. "We are committed to helping these clients improve their access to working capital and achieve their long-term business goals."

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $121 billion in assets and operates 18 affiliates with 1,320 full-service Banking Centers, including 104 Bank Mart® locations open seven days a week inside select grocery stores and 2,426 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 March 31, 2013, had $318 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." Fifth Third Bank was established in 1858. Lending is subject to credit review and approval. Fifth Third Bank. Member FDIC. Equal Housing Lender.



Fifth Third Bank
Barbara Grimsley, 513-534-6791

KEYWORDS: United States North America Florida Georgia Ohio Tennessee

INDUSTRY KEYWORDS:

The article Fifth Third Bank Extends More Than $7.6 Billion in Credit to Business Customers originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Advertisement