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Fed OKs Fifth Third's resubmitted CCAR plan

Dec 31, 2018 - SNL Financial
Mergers and Acquisitions

The Federal Reserve Board did not object to the resubmitted Comprehensive Capital Analysis and Review plan of Cincinnati-based Fifth Third Bancorp.

The Fed had asked Fifth Third to resubmit its CCAR plan as it needed to recognize the pro forma impact of the combined Fifth Third-MB Financial Inc. entity. Fifth Third agreed to acquire MB Financial in a $4.7 billion cash-and-stock deal in May.

In its original CCAR plan, the company stated plans to increase its quarterly dividend and to ...