The Cincinnati company's new Momentum checking and savings will give customers extra time to avoid overdraft fees, quicker access to paychecks and the option for advances on future direct deposits.

The Ohio company has opened just 32 of 120 new branches it plans in the region by 2022, but those offices are making a sizable contribution to growth.

Greg Carmichael said lightly regulated challenger banks pose a long-term threat to traditional banks, echoing comments JPMorgan Chase’s Jamie Dimon made last week.

Fifth Third is partnering with Provide and Panacea Financial works with Sonabank in Virginia to meet the specialized needs of medical professionals who own their own practices.

The Cincinnati bank joins a growing list of banks pledging billions of dollars to fight systemic racism and help close the wealth gap that exists between white and minority households.

A former Fifth Third executive recently accused the company of failing to deliver on a promise to make him president because he’s in his mid-50s. The case offers important lessons in hiring and succession planning as the banking industry cuts costs and seeks out younger, digital-savvy managers.

Fifth Third Bancorp promoted Chief Risk Officer Jamie Leonard to succeed Tayfun Tuzun, who will become chief financial officer of BMO Financial Group on Jan. 1. Both companies made other executive moves at the same time.

Spence’s promotion to president could signal that the Cincinnati banking company is grooming him as a potential successor to Chairman and CEO Greg Carmichael.

The Cincinnati company, one of just a handful of lenders to reduce its cushion against bad credits in the third quarter, was grilled by analysts who suggested it was being too optimistic about the long-term effects of the pandemic recession.

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