Press release
Fifth Third Bank Receives “Outstanding” CRA Rating Across All Categories of Lending, Investment and Service Rated by the OCC
CINCINNATI--(BUSINESS WIRE)-- Fifth Third Bank, National Association has received an “Outstanding,” the highest rating possible, on its most recent Community
About this update from Fifth Third Bancorp
[{"type":"text","content":" CINCINNATI--(BUSINESS WIRE)--\nFifth Third Bank, National Association has received an “Outstanding,” the highest rating possible, on its most recent Community Reinvestment Act performance examination1 from the Office of the Comptroller of the Currency. Fifth Third received “Outstanding” ratings on each of the examination’s three tests: Lending, Investment and Service.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230213005346/en/Fifth Third Bank has received an \"Outstanding\" Community Reinvestment Act rating from the OCC. (Graphic: Business Wire)\n“Strong banks need strong communities to succeed. Improving the well-being of the communities where we live and work is foundational to who we are as a bank,” said Tim Spence, president and CEO, Fifth Third. “This ‘Outstanding’ rating from the OCC reflects that commitment.”\n\nThe examination period was Jan. 1, 2017, to Dec. 31, 2021, and was the first for Fifth Third under the OCC. The Bank converted from an Ohio state-charted bank to a national bank in 2019. Its last CRA rating also was “Outstanding” for the most recent exam conducted by the Federal Reserve Bank of Cleveland in 2018.\n\nDuring the majority of the exam period, Fifth Third was focused on delivering its five-year, $32 billion Community Commitment,* designed to address major areas of need across our footprint. In 2021, the Bank announced that it surpassed its goals and delivered $41.6 billion in community support from 2016 to 2020, including $16.3 billion in mortgage lending, $12.6 billion in small business lending and support, and $12.6 billion in community development lending and investments. It also included $378 million in impact initiatives and programming, including $112.9 million in Community Commitment-related grants.\n\nKala Gibson, chief corporate responsibility officer, said, “We are proud of the work we’ve done to help address the wealth gap, build affordable housing, provide essential job training and financial education, and create opportunities for transformational, generational wealth. However, the job is far from complete. We are actively changing lives one neighborhood at a time and developing communities to create long-term, sustainable growth for individuals, families and small businesses.”\n\nAbout Fifth Third\n\nFifth Third is a bank...