Fifth Third Bank
Fifth Third Bank (5/3 Bank) is a U.S. regional banking corporation, headquartered in Cincinnati, Ohio at Fifth Third Center, and is the principal subsidiary of holding company Fifth Third Bancorp. The company operates under an Ohio charter.
The company's main businesses include branch banking, commercial banking, consumer lending, payment processing, investment advising, and title insurance.
Fifth Third Bank's corporate history began on June 17, 1858, when the Bank of the Ohio Valley opened in Cincinnati. Five years later, the Third National Bank organized on June 23, 1863. On April 29, 1871, the younger bank acquired the older one, beginning a long history of acquisitions and mergers that absorbed and renamed numerous smaller banks.
The Fifth Third name
Fifth Third's unusual name is the result of the June 1, 1908, merger of Third National Bank and Fifth National Bank, to become the Fifth-Third National Bank of Cincinnati (the hyphen was later dropped). While Third National was the senior partner, the merger took place when prohibitionist ideas were gaining popularity, and it is legend that "Fifth Third" was better than "Third Fifth," which could have been construed as a reference to three "fifths" of alcohol. The name went through several changes over the years until March 24, 1969, when it was changed to Fifth Third Bank.