Fifth Third Bancorp's section 20 subsidiary has underwritten its first initial public offering.

The unit underwrote a $9.975 million IPO for Michigan Community Bancorp, a new banking company that will own and operate two new community banks.

Fifth Third, based in Cincinnati, got equity underwriting capabilities in June when it bought The Ohio Company. The acquisition also enhanced Fifth Third's corporate bond underwriting and brokerage capabilities.

The section 20 unit is called Fifth Third/The Ohio Company.

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