Customers of Fifth Third Bank in Southwest Michigan appear unlikely to be affected by a major round of branch consolidations tied to the company’s recent merger with Comerica Bank.
Documents recently filed during the regulatory review of Fifth Third’s $10.9 billion acquisition of Comerica indicate that approximately 76 Michigan bank branches are expected to close or be consolidated as the newly combined institution streamlines overlapping operations. Most of the affected locations are former Comerica offices concentrated in Metro Detroit and other larger Michigan markets.
For customers in the St. Joseph, Benton Harbor, Niles, Stevensville, South Haven and Dowagiac areas, the news appears largely reassuring. None of the Fifth Third branches serving Berrien, Cass or Van Buren counties have been identified on the preliminary closure list reviewed during the merger approval process.
The closest announced closure to Michigan’s Great Southwest is a Fifth Third branch on East Michigan Avenue in downtown Kalamazoo. While that location is expected to close as part of the consolidation effort, Fifth Third maintains other offices in the Kalamazoo market.
The merger between Cincinnati-based Fifth Third Bancorp and Dallas-based Comerica officially closed in February, creating the nation’s ninth-largest bank with approximately $294 billion in assets and a network of more than 1,100 branches. Company executives have said the combination strengthens Fifth Third’s position in key growth markets while expanding its commercial banking capabilities.
Bank mergers frequently result in branch consolidations when two institutions operate offices in close proximity to one another. Industry analysts note that maintaining multiple branches in the same market is often difficult to justify as more customers shift routine banking activities online.
While the statewide numbers are significant, the impact on Southwest Michigan appears limited for now, with local Fifth Third customers expected to retain access to the bank’s existing branch network throughout the region.
