Fifth Third Bancorp on March 22 announced it completed its purchase of Chicago-based MB Financial Inc. MB systems will switch over to Fifth Third in early May. Fifth Third in a statement said it will be business as usual for MB Financial until the conversion is completed. Fifth Third’s purchase of MB Financial likely will […]
Fifth Third Bancorp, MB Financial Inc. merger wins regulatory approval
Federal regulators on March 7 approved a plan by Fifth Third Bancorp of Cincinnati to acquire MB Financial Inc. of Chicago. The merger, announced in May 2018, was approved by MB Financial stockholders in September 2018. The deal is expected to close on March 22. Representatives for both banks said system conversions expected to occur […]
Fifth Third Bancorp, MB Financial Inc. merging operations
Cincinnati-based Fifth Third Bancorp and MB Financial Inc. will merge operations in a stock and cash transaction valued at $4.7 billion. MB Financial is the holding company for MB Financial Bank, which has about $20 billion in assets and has served the Chicago area for more than 100 years. The deal still is subject […]