CINCINNATI–Fifth Third Bancorp continues to move forward with plans to close more than 80 branches, even as it expands its branch presence in certain markets.
Fifth Third announced in January it would be closing 42 branches, primarily across the Midwest, where it has an established presence. That followed an earlier announcement of 43 branch closures.
Meanwhile, Fifth Third is expanding its branch network in fast-growing areas in the southeastern U.S., where it plans to open 30 branches. The bank’s CEO said it is seeking to open 25 branches a year in the Southeast through 2025.
Fifth Third reported it has 58 fewer branches now than it did at the end of 2017 and operates 1,096 banking offices in 11 states.
Among the markets where Fifth-Third is expanding is Raleigh-Durham, N.C., where it now has 11 branches, up from five in 2017. The bank expects to have 30 locations there by 2025.
The bank, which has also announced investments in its digital infrastructure, recently announced it will be closing nine branches in Greater Cincinnati in the coming months, the majority of which are located inside Kroger stores.