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Stock impact report

Federal Reserve OK's Fifth Third-Comerica deal, set to happen Feb. 1 [Yahoo! Finance]

Comerica Incorporated (CMA) 
Last comerica incorporated earnings: 4/21 06:34 am Check Earnings Report
US:NYSE Investor Relations: investor.comerica.com
Company Research Source: Yahoo! Finance
In a joint news release issued Tuesday night, Jan. 13, the two banks announced that the Federal Reserve's Board of Governors has approved the acquisition and that they expect the $10.9 billion all-stock deal to close on Feb. 1. Last week, the banks' shareholders voted nearly unanimously in favor of the deal. Bank officials have said that Comerica will fully rebrand as Fifth Third Bank later this year — including with a new name for Comerica Park where the Detroit Tigers play, although not until after the 2026 Major League season. The combined Fifth Third-Comerica would be the ninth-largest U.S. bank with $290 billion in reported assets. The acquisition is expected to result in the closure of 76 Comerica and Fifth Third Bank branches in Michigan. However, bank representatives say the Fifth Third/Comerica combination would give Comerica customers access to about 65% more branches than they have today, and Fifth Third customers access to 45% more branches. Fifth Third had 163 br Show less Read more
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