Fifth Third Bancorp is a diversified financial services company with five major divisions: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. A regional bank, based in Cincinnati, it has 1,300 locations in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. It also operates Bank Marts in grocery stores and automated teller machines known as "Jeanies."
"The Fraction," as employees affectionately call it, got its name from a 1908 merger of Fifth National and Third National banks. Once considered among the best-managed U.S. banks, the Bancorp recently has reportedly overpaid for acquisitions and bad investment decisions. In 2008, when other banks scrapped bonuses for top executives, the Bancorp went further. About 50 executives went without a bonus.
The Fifth Third name is on two minor league baseball fields in Ohio, the homes of the Toledo Mud Hens and the Dayton Dragons, and one in Indianapolis, the Indians.