public traded as nasdaq fitb s & p 500 component industry banking financial services founded june 17 1858 ; 158 years ago 1858 06 17 as bank of the ohio valley headquarters cincinnati ohio u.s. number of locations 1 312 december 2010 1 key people marsha c. williams chairman greg carmichael ceo revenue us 7.218 billion 2010 1 operating income us 940 million 2012 1 net income us 753 million 2012 1 total assets us 142.43 billion 2016 2 total equity us 14.080 billion 2012 1 number of employees 21 613 december 2010 1 website www.53.com fifth third bank 5 3 bank is a u.s. regional banking corporation headquartered in cincinnati ohio at fifth third center and is the principal subsidiary of holding company fifth third bancorp. the company operates under an ohio charter . the company s main businesses include branch banking commercial banking consumer lending payment processing investment advising and title insurance . contents 1 history 1.1 the fifth third name 1.2 acquisitions and mergers 2 controversies 2.1 2014 discrimination settlement 2.2 2007 data breach 3 naming rights 4 references history edit fifth third national bank logo c. 1922 fifth third bank headquarters building in cincinnati ohio fifth third bank offices at 1000 town center in southfield michigan . fifth third center in nashville tennessee . fifth third bank s corporate history began on june 17 1858 when the bank of the ohio valley opened in cincinnati . five years later the third national bank organized on june 23 1863 . on april 29 1871 the younger bank acquired the older one beginning a long history of acquisitions and mergers that absorbed and renamed numerous smaller banks . 3 the fifth third name edit fifth third s unusual name is the result of the june 1 1908 merger of third national bank and fifth national bank to become the fifth third national bank of cincinnati the hyphen was later dropped . 3 while third national was the senior partner the merger took place when prohibitionist ideas were gaining popularity and it is legend that fifth third was better than third fifth which could have been construed as a reference to three fifths of alcohol . 4 the name went through several changes over the years until march 24 1969 when it was changed to fifth third bank . 3 new fifth third bank branch in springboro ohio . older fifth third location in xenia ohio . acquisitions and mergers edit the fifth third footprint in 1999 the company completed the acquisition of enterprise federal bancorp inc. one of the biggest thrifts in the cincinnati area . the purchase estimated at 96.4 million added 11 branches to fifth third in greater cincinnati . fifth third also acquired ashland bankshares inc. and its subsidiary bank of ashland both based in kentucky . the 80 million purchase gave fifth third four more branches and 160 million in assets . fifth third also began to implement plans to expand further into florida and acquired south florida bank holding corp. in june adding another four branches to its florida roster . additional expansion into the cleveland area came with the 204 million acquisition of emerald financial corp. fifth third also acquired cleveland based emerald financial corp. and its subsidiary strongsville savings bank . in november 2000 fifth third announced the purchase of old kent bank of western michigan . this added more than 300 full service banking centers in indiana illinois and michigan . 5 in may 2007 fifth third announced the acquisition of r g crown bank of casselberry florida a transaction that closed in the fourth quarter of 2007 and which added 30 branches in florida and three in georgia . 6 on august 16 2007 fifth third announced the purchase of first charter bank of charlotte north carolina . 7 as part of this transaction fifth third entered the north carolina market with 57 branches and the atlanta market with two branches . 8 the federal reserve board approved the transaction for fifth third bank to acquire first charter april 16 2008 . 9 the acquisition completed in june 2008 . 10 on september 25 2007 fifth third announced the acquisition of nine branch locations in atlanta ga from first horizon national corporation . 11 first horizon canceled the sale february 7 2008 as the sale price suddenly became unacceptable to fhn . then news outlets reported that the sale was reinstated march 25 2008 . 12 on october 31 2008 the federal deposit insurance corporation fdic announced that all deposits of florida based freedom bank which ceased operation that day would be assumed by fifth third bank . 13 on march 30 2009 fifth third announced a joint venture with advent international in which advent would purchase 51 % of its credit card processing business fifth third processing solutions . the new company fifth third processing solutions llc began operation june 2009 . 14 fifth third was rumored to be one of the front runners alongside huntington bancshares to buy the national city branches in the pittsburgh and erie regions that the united states department of justice required pnc financial services to sell as part of pnc s 2008 acquisition of national city . 15 had fifth third bought the branches it would have greatly expanded the bank s presence in the pittsburgh region where fifth third has opened a small handful of branches over the past few years as opposed to acquiring a rival bank as well as enter the erie market . ultimately pnc sold the bulk of the overlapping branches to first niagara bank . in 2015 fifth third announced it would exit the pittsburgh market by selling its retail branches to locally based fnb corporation but it would continue to do commercial banking in pittsburgh . 16 october 28 2014 fifth third announced plans to move its michigan regional headquarters from southfield to downtown detroit in what will be named the fifth third bank building at one woodward . the bank will occupy about 62 000 sq ft 5 800 m2 of the structure and has also pledged to invest 85 million in the city of detroit . 17 the office had 150 employees . 18 controversies edit 2014 discrimination settlement edit in august 2014 the department of justice filed a settlement with fifth third mortgage company resolving allegations that the bank engaged in a pattern of discrimination on the basis of disability and receipt of public assistance in violation of equal credit opportunity act . under the settlement fifth third was required to establish a settlement fund of 1.5 million to compensate eligible mortgage loan applicants who were asked to provide a letter from their doctor to document the income they received from social security disability insurance . 19 2007 data breach edit in january 2007 the new york times published an article entitled data breach could affect millions stating yesterday fifth third bank of cincinnati was identified as the sponsoring bank that handles tjx s accounts which makes it responsible for ensuring that the retailer met the industry s data security standards . 20 it was later found that potentially 45.7 million credit card numbers were compromised . this from the associated press tjx says its computer systems were first breached in july 2005 by a hacker or hackers who accessed information from customer transactions dating to january 2003 . tjx says it didn t learn of the breach until about three months ago ... . the filing also says we believe that the intruder had access to the decryption tool for the encryption software utilized by tjx . 21 naming rights edit wikimedia commons has media related to fifth third bank . fifth third owns the naming rights to fifth third field a baseball stadium bearing the bank s name in toledo ohio . home of the toledo mud hens the minor league team of the detroit tigers . fifth third field a baseball stadium bearing the bank s name in dayton ohio . home of the dayton dragons a class a minor league baseball team playing in the midwest league affiliated with the cincinnati reds . fifth third ballpark a baseball stadium bearing the bank s name in comstock park michigan . home of the west michigan whitecaps a class a minor league baseball team playing in the midwest league affiliated with the detroit tigers . fifth third arena an indoor arena bearing the bank s name on the campus of the university of cincinnati used by that school s basketball program fifth third bank ballpark a baseball stadium bearing the bank s name in geneva illinois home of the kane county cougars . single a affiliate of the chicago cubs . fifth third bank stadium home of the kennesaw state university georgia owls . future site of kennesaw state s football team in 2015 . fifth third bank field at the citrus bowl in orlando florida . fifth third bank purchased naming rights to the citrus bowl stadium for orlando city soccer club games in 2013 . references edit a b c d e f 2010 form 10 k fifth third bancorp . united states securities and exchange commission . http www.forbes.com companies fifth third bancorp a b c fifth third bank history and expansion pdf pdf . fifth third bank . retrieved 2012 10 23 . adams cecil 2002 01 18 . the straight dope what gives with fifth third bank . chicago reader . retrieved 2006 09 02 . fifth third bank completes old kent conversion . pr newswire press release . fifth third bank . 24 september 2001 . retrieved 2014 10 28 . fifth third bancorp to buy r g crown bank . reuters . 21 may 2007 . archived from the original on october 28 2014 . retrieved 2014 10 28 . mclaughlin tim 16 august 2007 . fifth third to buy first charter . reuters . retrieved 2014 10 28 . boye will 25 january 2008 . fifth third still committed to first charter purchase . charlotte business journal . retrieved 2014 10 28 . fed approves fifth third s first charter buyout . dayton business journal . 16 april 2008 . retrieved 2014 10 28 . fifth third bank closes first charter deal enters north carolina . pittsburgh business times . 9 june 2008 . retrieved 2014 10 28 . fifth third to expand presence in atlanta with branch purchase from first horizon press release . fifth third bank . 25 september 2007 . retrieved 2014 10 28 . fifth third first horizon agree on sale of atlanta area branches press release . fifth third bank . 26 march 2008 . retrieved 2014 10 28 . fifth third bank acquires all the deposits of freedom bank bradenton florida press release . federal deposit insurance corporation . 31 october 2008 . retrieved 2014 10 28 . fifth third bancorp and advent international announce fifth third processing solutions joint venture . fifth third bank . 30 march 2009 . retrieved 2014 10 28 . sabatini patricia 21 march 2009 . fnb won t buy national city units . pittsburgh post gazette . retrieved 2014 10 28 . http triblive.com business headlines 9351520 74 niagara keycorp based axzz3r6gnxg00 pinho kirk 28 october 2014 . fifth third bank to move 150 employees downtown as part of 85m investment in detroit . crain s detroit business . retrieved 2014 10 28 . gallagher john . fifth third bank to move to downtown detroit archived 2015 11 26 at webcite . detroit free press . october 27 2014 . retrieved on november 27 2015 . justice department reaches settlement with fifth third mortgage company to resolve allegations of discrimination against recipients of disability income . the united states department of justice . united states department of justice . retrieved 10 september 2015 . dash eric 19 january 2007 . data breach could affect millions . the new york times