Fifth Third Bank Extends More Than $12 Billion in Credit to Business Customers
April 27 2016 - 9:42AM
Business Wire
In the first quarter of 2016, Fifth Third Bank (NASDAQ: FITB)
extended more than $12 billion in new and renewed credit to
business customers. During calendar year 2015, Fifth Third Bank
loaned more than $48 billion to businesses.
Companies that received loans from Fifth Third Bank during this
time period include:
Digital Insurance, the nation’s largest benefits-only
insurance broker, specializing in insurance distribution and
benefits management for small to mid-sized companies. The Atlanta,
Georgia based insurance broker received a line of credit to support
their acquisition strategy.
Dry County Brewing Company, a craft microbrewery in
Kennesaw, Georgia. Fifth Third Bank helped the company secure an
SBA loan for capital equipment purchases and leasehold
improvements. The funds were used to secure the equipment needed to
move their craft beer production from a third party manufacturer to
in-house production.
Superior Uniform Group, manufacturer and seller of a wide
range of uniforms, career apparel and accessories for healthcare,
hospitality, public safety, industrial and commercial markets.
Fifth Third Bank provided the Seminole, Florida based company a
revolving line of credit and term loan to acquire BAMBKO to expand
and complement their product lines.
Web.com, provider of a full range of internet services to
small businesses to help them compete and succeed online. Fifth
Third Bank helped the Jacksonville, Florida based firm secure
acquisition financing to expand services to include cloud-based
marketing automation for clients with online, mobile and social
presence.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $142 billion in
assets and operates 1,241 full-service Banking Centers, including
95 Bank Mart® locations, most open seven days a week, inside select
grocery stores and over 2,500 ATMs in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia,
Pennsylvania, Georgia and North Carolina. Fifth Third operates four
main businesses: Commercial Banking, Branch Banking, Consumer
Lending, and Investment Advisors. Fifth Third also has an 18.3%
interest in Vantiv Holding, LLC. Fifth Third is among the largest
money managers in the Midwest and, as of March 31, 2016, had $303
billion in assets under care, of which it managed $26 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®
Global Select Market under the symbol “FITB.” Fifth Third Bank was
established in 1858. Member FDIC, Equal Housing Lender
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Fifth Third BankSean Parker, 513-534-6791
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