Greg Carmichael

Fifth Third is latest bank to raise its minimum wage


The Cincinnati regional bank says it will spend an extra $15 million a year to offer more competitive pay that it hopes will attract talented front-line employees.


Regional banks use hedging tactics to combat rate cuts


KeyCorp, Regions Financial and others have sacrificed short-term profits to avoid being crushed by an anticipated decline in interest rates.


Fifth Third CEO sees no need for digital-only bank


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.


Which bank CEOs received the biggest raises in 2018?


Jamie Dimon remains the highest-paid chief executive, but his 5% pay raise was smaller than that of at least five of his counterparts. Here's what CEOs of 13 large and regional banks earned last year, based on recent proxy filings.


Fifth Third eyes middle market in Texas, Colorado


CEO Greg Carmichael says the Cincinnati bank will hire bankers in Denver, Dallas and Houston as part of a broader expansion into fast-growing markets that are home to lots of midsize firms. It is also interested in buying more fee-based businesses.


Fee income, profits fall at Fifth Third


Though consumer lending and C&I lending improved at the Cincinnati company, its corporate and mortgage banking revenues fell in the third quarter. Last year Fifth Third also posted a one-time gain of $1B associated with its sale of shares in Vantiv, complicating the comparison.


Fifth Third resumes Southeast expansion it began pre-crisis


The bank announced plans to open 100 to 125 branches in fast-growing cities across the Southeast, and will close an equal number in the Midwest. In a way, it's finishing a plan it cooked up nearly two decades ago.


De-risking at Fifth Third stifles loan growth


The Cincinnati bank reported strong profits, but its efforts to lower credit risk curbed lending as expenses rose in the first quarter.


Weak spot in banks' earnings: Fee income


Net interest income has surged thanks to rising rates, but noninterest income has lagged as trading revenue has weakened, refi demand has softened and fees from deposit service charges have barely budged. Is this the new normal?


Banks offer raises, bonuses after Congress passes tax reform bill


Fifth Third said it will give a bonus or raise to about three-quarters of its employees while Wells Fargo raised its minimum hourly pay in the wake of Congress' passing a tax reform bill.