Add-on Acquisition • Financial Services

Fifth Third Bank Acquires State Savings Co.

On June 19, 1998, Fifth Third Bank acquired financial services company State Savings Co. for 903M USD

Acquisition Context
  • This is Fifth Third Bank’s 9th transaction in the Financial Services sector.
  • This is Fifth Third Bank’s 7th largest (disclosed) transaction.
  • This is Fifth Third Bank’s 9th transaction in the United States.
  • This is Fifth Third Bank’s 5th transaction in Ohio.

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M&A Deal Summary

Date June 19, 1998
Target State Savings Co.
Sector Financial Services
Buyer(s) Fifth Third Bank
Deal Type Add-on Acquisition
Deal Value 903M USD

Target Company

State Savings Co.

Columbus, Ohio, United States
State Savings Co., is a privately owned thrift holding company.
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Buyer Overview 1

Buyer

Fifth Third Bank

Cincinnati, Ohio, United States

Category Company
Founded 1858
Sector Financial Services
Employees18,616
Revenue 8.3B USD (2024)
DESCRIPTION
Fifth Third Bank branch in Chicago, Illinois.
Fifth Third Bank branch in Chicago, Illinois.

Fifth Third Bank is a regional US-based bank. Fifth Third provides a variety of financial services including commercial lending, consumer lending, and investment advisory. Fifth Third Bank was incorporated in 1858 and is based in Cincinnati, Ohio.


Deal Context for Buyer #
Overall 9 of 40
Sector: Financial Services 9 of 33
Type: Add-on Acquisition 9 of 34
State: Ohio 5 of 12
Country: United States 9 of 40
Year: 1998 1 of 2
Size (of disclosed) 7 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-07-25 Suburban Bancorporation

Cincinnati, Ohio, United States

Suburban Bancorporation, a bank holding company. Suburban provides banking services.

Buy $35M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-06-26 CitFed Bancorp

Dayton, Ohio, United States

CitFed Bancorp, Inc., provides retail deposits, investing, mortgage loans and consumer loans services.

Buy $827M