M&A Deal Summary

Fifth Third Bank Acquires Ashland Bankshares

On April 16, 1999, Fifth Third Bank acquired financial services company Ashland Bankshares for 85M USD

Acquisition Highlights
  • This is Fifth Third Bank’s 11th transaction in the Financial Services sector.
  • This is Fifth Third Bank’s 18th largest (disclosed) transaction.
  • This is Fifth Third Bank’s 11th transaction in the United States.
  • This is Fifth Third Bank’s 4th transaction in Kentucky.

M&A Deal Summary
Date 1999-04-16
Target Ashland Bankshares
Sector Financial Services
Buyer(s) Fifth Third Bank
Deal Type Add-on Acquisition
Deal Value 85M USD

Target

Ashland Bankshares

Ashland, Kentucky, United States
Ashland Bankshares, Inc., provides banking services.

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Buyer(S) 1

Buyer

Fifth Third Bank

Cincinnati, Ohio, United States
Category Company
Founded 1858
Sector Financial Services
Employees18,657
Revenue 8.5B USD (2023)
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 STATS #
Overall 11 of 37
Sector (Financial Services) 11 of 31
Type (Add-on Acquisition) 11 of 32
State (Kentucky) 4 of 5
Country (United States) 11 of 37
Year (1999) 1 of 6
Size (of disclosed) 18 of 25
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-14 Enterprise Federal Bancorp

West Chester, Ohio, United States

Enterprise Federal Bancorp, Inc., operates holding company for Enterprise Federal Savings Bank. Enterprise Federal provides various banking products.

Buy $121M
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