NEW YORK — Fifth Third Bancorp said Monday the Securities and Exchange Commission has subpoenaed information from the bank regarding commercial-loan matters.
The bank said in its annual report that the SEC has made several requests for information, including by subpoena, and it believes the SEC is interested in issues related to accounting and reporting matters involving certain commercial loans.
Shares of Fifth Third fell 4.5% to $13.95 in recent after-hours trading.
Andrew Marquardt, analyst at Evercore Partners, said the sell-off is likely due to the disclosed SEC inquiries.
"Anything accounting-related in an open investigation is concerning," he said.
