Fifth Third announces 40 new banks, 350 jobs in SE Michigan

Fifth Third Bank has announced plans to invest $100 million into Southeast Michigan, open 40 banks over the next three years and hiring 350 new employees.

Excerpt:

“Southeast Michigan is a growth market for Fifth Third Bank,” Greg Kosch, president of Fifth Third (Eastern Michigan), said in a statement. “We will build out our banking center distribution network, increase wealth-management capabilities and reinforce the commercial bank portfolio over the next few years.”

Two new centers will be unveiled in Detroit at the end of March and April, according to bank officials. In addition, there are plans to open branches over the next several months in Fenton, Ann Arbor, Berkley and Riverview. “We hope there will be about 350 jobs, pretty much all over the market,” said bank spokesman Jack Riley. “I think the key is we’ve had good growth in this market.”

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