Banks see the ‘mass affluent’ as hot prospects worth enticing offers
A dramatic shift in cash offers—one-time cash incentives banks offer to new customers—is an example of how keen banks are to land the mass affluent
Fifth Third Bank
Fifth Third Bank to pay $5M to settle auto insurance allegations
Consumer Financial Protection Bureau Director Rohit Chopra said the bank had been “illegally loading up auto loan bills with excessive charges,” with about 1,000 families losing their cars to repossession as a result.
Economist: Pandemic recession has ended, but disruptions linger
Fifth Third Bank’s Chief Investment Strategist Jeff Korzenik told an Indianapolis audience Wednesday that the workforce crunch and sudden glut in downtown office space remain vexing problems, but Indiana is in solid position to take advantage of the return of manufacturing from overseas.
Fifth Third Bank announces $20M investment in Arlington Woods neighborhood
Most of of the funding will will go to improve mortgage access, capital access for small businesses and other education resources in the northeast-side neighborhood.
Economist: Indiana might benefit as pandemic pushes people to flee big cities
Jeff Korzenik, chief investment strategist at Fifth Third Bank, said Thursday that homeowners and businesses have become more interested in locating in suburbs and mid-sized cities—a trend that could benefit the Indianapolis area.
Chase remains Indy’s biggest bank
PNC and Fifth Third rank as the second and third largest area bank by deposits.
Fifth Third Bank announces market president change
Kevin Hipskind, Fifth Third’s Indianapolis-based market president since 2018, has been promoted. His successor comes from Louisville, where he has been market president since 2015.
Banks changing branch operations due to coronavirus
Chase has temporarily closed a few of its local branches, while many others are moving to appointment-only service and drive-through service in response to the outbreak.
Feds say Fifth Third opened fake accounts like Wells Fargo
Fifth Third said it had already investigated the allegations and called the fraudulently opened accounts “a limited and historical event.”
Expert: Economy inching closer to downturn as workforce constrains growth
Jeff Korzenik, chief investment officer for Fifth Third Bank, told the audience at IBJ’s 2020 Economic Forecast that employers need to investigate nontraditional sources of workers to offset the weak labor market.
Biz leaders say focus on neighborhoods results in more significant impact
Cummins isn’t alone in its neighborhood approach. Multiple Indianapolis companies are choosing to focus their philanthropy on a particular neighborhood as a way to make a greater impact.
Six arrested in 2011 killing of former Indianapolis banker
Federal authorities announced Wednesday that they have solved the high-profile orchestrated killing of a former Indiana banking executive who was shot to death more than seven years ago while driving home from work.
Fifth Third to acquire Chicago’s MB Financial for $4.7 billion
Fifth Third is paying a premium to gain a bigger foothold in the Chicago market, where MB Financial is among the middle-market banking leaders with 86 retail bank branches.
Fifth Third Bancorp announces local executive promotions
Steve Alonso, the bank’s Indiana regional president, will take on a national-level position effective Jan. 1. Kevin Hispkind will be promoted to fill Alonso’s old job.
Is U.S. economic recovery nearing its end after 8 years?
The chief investment strategist for Fifth Third Bank says the economy is in the seventh inning of its recovery, which is "good news." But headwinds in the labor market could be limiting the potential for growth.
Chase stays atop ranking of biggest banks in Indy
As of June 30, New York-based Chase held $8.6 billion in deposits within Marion County, which represents a local market share of 30.1 percent.
In economic ballgame, U.S. is in ‘seventh inning,’ strategist says
The chief investment strategist for Fifth Third Bank on Friday tried to temper optimism in an economic forecast for 2017, noting global headwinds that could curtail growth.
Fifth Third Bank to shed 44 branches system-wide
Cincinnati-based Fifth Third has about 44 branches and about 490 employees in the Indianapolis area.
FBI offers $20K reward in former Fifth Third banker’s death
The FBI on Tuesday offered a $20,000 reward for information that could help solve the 2011 killing of a U.S. banking executive who spent a significant part of his career in Indianapolis.
Fifth Third Bancorp ready to close about 100 branches
Fifth Third Bancorp said it plans to close or consolidate about 100 branches and has abandoned plans for 30 new ones. The company has more than 40 branches in the Indianapolis area.