Fifth Third to Acquire MB Financial, Improving The Chicago Franchise; No Change to Our FVE
Fifth Third announced that it is acquiring MB Financial, a Chicago-based bank with roughly $20 billion in assets (Fifth Third had $141.5 billion in assets at the end of the first quarter of 2018). We believe the deal makes sense strategically, giving the bank more scale and a better foothold in one of its core Midwest markets. After the deal closes, Illinois will become Fifth Third’s second-largest state by deposits, and the Chicago MSA (metropolitan statistical area) will become nearly equal wi...Fifth Third Bancorp is a bank holding company. Through its subsidiaries, the company provides financial products and services to the commercial, financial, retail, governmental, educational, energy and healthcare sectors. The company's segments are: Commercial Banking, which provides credit intermediation, cash management and financial services; Branch Banking, which provides a range of deposit and loan products to individuals and small businesses; Consumer Lending, which includes the company's residential mortgage, automobile and other indirect lending activities; and Wealth and Asset Management, which provides a range of investment alternatives for individuals, companies and not-for-profit organizations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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