CINCINNATI, March 18, 2011 /PRNewswire/ -- Fifth Third Bancorp (Nasdaq: FITB) announced today that the Board of Governors of the Federal Reserve System did not object to the proposed capital actions in its capital plan, which included an increase in the quarterly common stock dividend in the first quarter of 2011 and the possible future redemption of certain trust preferred securities. The board of directors is expected to consider the dividend matter at its next scheduled meeting on Tuesday, March 22, 2011.
Fifth Third submitted the capital plan, approved by its board of directors, to the Federal Reserve as part of the Comprehensive Capital Analysis and Review of the 19 bank holding companies that participated in the Supervisory Capital Assessment Program.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $111 billion in assets and operates 15 affiliates with 1,310 full-service Banking Centers, including 101 Bank Mart® locations open seven days a week inside select grocery stores and 2,451 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2010, had $266 billion in assets under care, of which it managed $25 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® National Global Select Market under the symbol "FITB."
SOURCE Fifth Third Bancorp