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Fifth Third Bank Extends More Than $10.6 Billion in Credit to Business Customers

Fifth Third Bank Extends More Than $10.6 Billion in Credit to Business Customers

 

 

                                                      News Release

                 

CONTACT:    Kelsea Mullane                                                          FOR IMMEDIATE RELEASE

(407) 657-4818                                                           January 24, 2014

                                                                                   

 

Fifth Third Bank Extends More Than $10.6 Billion in Credit

to Business Customers

 

Tampa – Fifth Third Bank announced today that it has extended more than $10.6 billion in new and renewed credit to business customers from October through December 2013. During 2013, Fifth Third Bank lent more than $39 billion to businesses throughout its footprint.

 

Companies who have received loans from Fifth Third Bank during this time period include:

 

  • AIT Laboratories, a national healthcare company headquartered in Indianapolis, which provides toxicology laboratory services to compliance testing, forensics and clinical clients. The company refinanced its senior debt and secured a comprehensive treasury management program through Fifth Third to help AIT in its recapitalization.
  • Gulf Coast Medical Center and Florida Institute for Advanced Diagnostic Imaging, a multi-specialty outpatient diagnostic medical facility with locations in Port Richey and Spring Hill. Fla. The healthcare company received two commercial mortgages and a line of credit from the Bank to realign debt and improve access to working capital for future capital expenditures.
  • Performance Assessment Network (pan), a talent assessment company located in Carmel, Ind. Fifth Third provided the company’s management financing to help buy the organization from a publicly traded company. The company also secured treasury management services through the Bank.
  • Oaklawn Psychiatric, a provider of inpatient, outpatient, residential and addiction recovery services for both youth and adults serving Elkhart, Goshen, Mishawaka and South Bend, Ind. The organization moved its banking relationship, including senior debt refinancing, treasury management and investment management to the Bank due to its expertise in healthcare and dedication to the Indiana marketplace.
  • Spectrum Health, the largest integrated health system in Western Michigan. The organization refinanced bonds through Fifth Third to lower its cost of debt and consolidated its debt structure for efficiency.

 “We work closely with our business customers, both large and small, to understand their unique needs and to provide the right financing and banking solutions to help them grow and achieve their goals,” said Greg Kosch, executive vice president and head of the Wholesale Bank for Fifth Third.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $130 billion in assets and operates 17 affiliates with 1,320 full-service Banking Centers, including 102 Bank Mart® locations open seven days a week inside select grocery stores and 2,599 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 25% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2013, had $302 billion in assets under care, of which it managed $27 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® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858.  Member FDIC.   Equal Housing Lender.

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