Fifth Third Bancorp has agreed to acquire Comerica for $10.9 billion, creating the nation’s ninth-largest bank with $288 billion in assets pending regulatory approval. The deal aims to help Fifth Third expand in the Southeast and Southwest to compete against megabanks. Comerica’s stock rose 14% while Fifth Third’s fell 1% on Monday. This acquisition is the latest and largest in a year of bank mergers following a 2023 banking crisis. Other notable bank deals this year include PNC Bank’s purchase of FirstBank for $4.1 billion and Pinnacle Financial Partners’ agreement to acquire Synovus for $8.6 billion.

Read more at Yahoo Finance: Fifth Third to buy Comerica for $10.9 billion in deal that will make it ninth-largest bank in US