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Fith Third to be Sold?

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in Grand Rapids

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ModSquad Hamlet

ModSquad

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From mlive/grpress

Fifth Third rumored for sale

GRAND RAPIDS -- Fifth Third Bancorp. shares surged today amid rumors the bank -- West Michigan's largest -- could be sold to Wells Fargo or US Bancorp.

A Cincinnati television station reported representatives from Minneapolis-based U.S. Bancorp and San Francisco-based Wells Fargo & Co. were in Cincinnati to discuss a deal.

Fifth Third Chief Executive George Schaefer sent a memo to staff calling the story "unsubstantiated rumor," according to Reuters news service.

Don Van Dine, Wells Fargo's regional vice president, said he had no knowledge of such a deal.

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twoshort Town

twoshort

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GRAND RAPIDS -- Fifth Third Bancorp. shares surged today amid rumors the bank -- West Michigan's largest -- could be sold to Wells Fargo or US Bancorp.

Someone mentioned that to me a couple weeks ago as I was reading an article in one of the west michigan business news papers about how they had big plans to expand on the east side of the state. I took it as rumor based on that article.

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torgo Town

torgo

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Someone mentioned that to me a couple weeks ago as I was reading an article in one of the west michigan business news papers about how they had big plans to expand on the east side of the state. I took it as rumor based on that article.

If they did sell it, at least the name of the business would improve. :lol:

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GRDadof3 Ecumenopolis

GRDadof3

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From mlive/grpress

Fifth Third rumored for sale

GRAND RAPIDS -- Fifth Third Bancorp. shares surged today amid rumors the bank -- West Michigan's largest -- could be sold to Wells Fargo or US Bancorp.

A Cincinnati television station reported representatives from Minneapolis-based U.S. Bancorp and San Francisco-based Wells Fargo & Co. were in Cincinnati to discuss a deal.

Fifth Third Chief Executive George Schaefer sent a memo to staff calling the story "unsubstantiated rumor," according to Reuters news service.

Don Van Dine, Wells Fargo's regional vice president, said he had no knowledge of such a deal.

"unsubstantiated rumor", "no knowledge of such a deal". Oh man! The ink on the deal is probably already dry. Let's hope they don't cut staff here.

Yah, and Fifth/Third was the worst name :P

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snoogit Town

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IF this is true, I'd think Wells Fargo would be the front runner at this point.

Although I prefer to bank at the smaller banks and credit unions anyways :P

right now I'm at First Mattress Union, but I might go to the Bank of Desk Drawer. I hear they got free checking.

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torgo Town

torgo

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IF this is true, I'd think Wells Fargo would be the front runner at this point.

Although I prefer to bank at the smaller banks and credit unions anyways :P

right now I'm at First Mattress Union, but I might go to the Bank of Desk Drawer. I hear they got free checking.

:lol: I dunno, I think First Matress Union has better interest rates :P

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zenstyle Hamlet

zenstyle

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Wouldn't you also think it has something to do with the fact that they treat their customers like CRAP! All I've heard from friends after the Old Kent merger is how bad their customer service and how uncaring they really are. Call them the "red-coats" :D

5/3 is the worst! Old Bent Crank & Rust was bad enough, and its new incarnation also is a firm believer in junk fees and atrocious logos.

I hope the new contender isn't Wells Fargo, though; they are notorious for predatory lending practices.

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torgo Town

torgo

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5/3 is the worst! Old Bent Crank & Rust was bad enough, and its new incarnation also is a firm believer in junk fees and atrocious logos.

I hope the new contender isn't Wells Fargo, though; they are notorious for predatory lending practices.

I have a 5/3 account that I havent used in months. Their service is ok, but they have too many stupid charges, like 50 cents when you check your balance at an atm. wtf is that?? Now I bank with a company on the other side of the country

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publius Unincorporated Area

publius

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Continued bad customer service, clueless managers who turn over every three months, understaffed branches where you had to wait 30 minutes for simple transactions, and 45 minutes to speak to a manager, repeated attempts to get their software to do the proper things on the internet, all the time not responding to proper commands. The bank is clueless. If you don't like the personal experience, you know the stock is headed south--this is the basic Peter Lynch (Fidelity Investment guru) principle....

I ceased doing business with them about two years ago, after the Eastbrook branch reduced staff even more than the unconscionable reductions they had done earlier. Their formula for success was to cut personnel and services relentlessly to increase profits, until they had no personnel and services left, lol. I have a relative who had their trust services transferred to Cincinnati, and when they have a question, is on hold for an hour... They still gave handwritten receipts for deposits and withdrawals at the time I ceased my relationships, lol--that ought to tell you something.

At least Wells Fargo Park is a better ballpark name than Fifth/Third Park, but not as good as Old Kent Park, lol...

:wacko:

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metrogrkid Hamlet

metrogrkid

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If they did sell it, at least the name of the business would improve. :lol:

OH MY GOD, THAT'S AN UNDERSTATEMENT!! PLEASE SAY THAT AGAIN!!!! The Fifth Third name has always been a thorn in my side ever since it inflicted itself on us. I've always thought Wells Fargo would coming some day. Hmmm.

Whomever buys the bank, could they make the first order of business to be the complete replacement of the current 5/3 fortress downtown.

1969 called and they want their building back!

WOW! Two zingers in a row!! REPEAT THIS ONE LOUDLY!!

:thumbsup:

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