Fifth Third Bancorp ($FITB) has announced the acquisition of Comerica Inc. ($CMA) in a $10.9 billion all-stock deal, making it one of the largest regional bank mergers since the 2023 banking crisis. The combined entity will be among the top 20 U.S. banks, with assets totaling around $288 billion. Comerica’s shareholders will hold a 27% stake in the new company, with Fifth Third shareholders owning the remaining 73%. Comerica CEO Curt Farmer will become vice chair of the merged firm. The deal follows a trend of consolidation in the midsize U.S. banking sector, with Comerica shares rising 12% and Fifth Third falling 3% in premarket trading.

Read more at Quiver Quantitative: Fifth Third to Acquire Comerica in $10.9 Billion All-Stock Deal