Investment Summary

Fifth Third Bank Invests In First Independence Bank

On June 14, 2021, Fifth Third Bank invested in financial services company First Independence Bank

Investment Highlights
  • This is Fifth Third Bank’s 30th transaction in the Financial Services sector.
  • This is Fifth Third Bank’s 33rd transaction in the United States.
  • This is Fifth Third Bank’s 3rd transaction in Michigan.

Investment Summary
Date 2021-06-14
Target First Independence Bank
Sector Financial Services
Investor(s) Fifth Third Bank
Deal Type Stake Purchase

Target

First Independence Bank

Detroit, Michigan, United States
First Independence Bank is the seventh-largest African American-controlled commercial bank in the United States. It offers a variety of high-quality banking services from managing accounts to personal loans, mortgages, consumer education, and investments. First Independence Bank was founded in 1970 and is based in Detroit, Michigan.

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Investor(S) 1

Investor

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 33 of 37
Sector (Financial Services) 30 of 31
Type (Stake Purchase) 1 of 1
State (Michigan) 3 of 3
Country (United States) 33 of 37
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 Hammond Hanlon Camp

San Diego, California, United States

Founded in 2011, H2C is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations and related companies throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers and acquisitions, capital markets, and real estate transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-06 Provide

San Francisco, California, United States

Provide is a digital platform for healthcare practices that offers an integrated suite of financial products that makes starting and running a healthcare practice easier, giving providers more time to care for their patients. Provide’s first product was practice lending, enabling providers to start, buy or expand healthcare practices, and it has since grown to offer banking accounts and payments services. Provide was formed in 2013 and is based in San Francisco, California.

Buy -
Mergr

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