Earnings at the Cincinnati company fell 25% from the same period last year, largely due to $109 million in expenses tied to its March acquisition of MB Financial.
CEO Greg Carmichael said Wednesday that online-only banks "aren't relationship-based" and that Fifth Third would stick to its plan of attracting new depositors by selectively expanding into new markets.
Regions Financial said Thursday that it will not renew its contract with GreenSky — a move analysts say could prompt other banks to re-examine their lending arrangements with the fintech.
Democratic lawmakers made clear at a hearing Wednesday that they do not intend to abandon the issue following the GOP's repeal of regulatory guidance last year.
Now that the Cincinnati company recently completed its first bank acquisition in over a decade, CEO Greg Carmichael is pushing ahead on tech hires and expansion outside its Midwestern core.
Fifth Third Bancorp in Cincinnati also closed on its purchase of MB Financial and benefited from increases in corporate banking revenues and a slight improvement in credit quality.
