Fifth Third expanded its commercial banking capabilities by hiring Joseph Yurosek as market president to serve California-based middle market companies.
Fifth Third Capital Holdings partnered with fintech venture capital firm QED Investors, which will advise Fifth Third on the continued development of its fintech strategy.
Affinity Gaming, a diversified casino gaming operator, repriced its existing $300 million term loan B, with Credit Suisse, Fifth Third and Citizens Bank as arrangers.
Affinity Gaming closed two new senior secured credit facilities totaling $375 million. Credit Suisse served as administrative agent for the transaction.
Fifth Third Bancorp announced plans to pursue changes to its branch network as it works to improve efficiency, competitiveness and the quality of its customers’ experience.
Fifth Third reported Q4/14 earnings were $362 million or $0.43 per diluted share, above analysts’ estimates of $0.42 per share. The bank noted a Q4 decline in average yield on interest-earning assets.
Advocate raised its credit line for law firm loans from $3.2 million to a $4 million, via a facility increase to $115 million. Fifth Third Bancorp is lead agent, with Wells and New York Community Bancorp participating as lenders.
Fifth Third Bancorp announced that Fifth Third Securities agreed to employ Challenger Capital Group’s team of M&A professions, headed by Mike Burr, to its capital markets division.
The Wall Street Journal reported large U.S. banks will stop offering a form of short-term borrowing that has attracted regulatory scrutiny and complaints from consumer advocates over the loans’ costs.
Capital Access Network set a new monthly record in May by providing small businesses access to $66 million of working capital. Also, CAN expanded its credit line to nearly $500 million with WFCF, Goldman, Fifth Third and Capital One.