Latest news with #FifthThirdBank
Business Journals
5 days ago
- Business
- Business Journals
Fifth Third contributes $13M to Findlay Community Center
Fifth Third Bank is contributing a total of $13 million to an Over-the-Rhine project that is set to help transform the northern reaches of the neighborhood.
Yahoo
12-06-2025
- Business
- Yahoo
Reporting on the ground in one of America's Evolving Cities
Anyone who's lived in Nashville for any length of time is familiar with the rapid pace of change here. So it's hardly a surprise the city landed on a list of regions that are projected to continue growing in the report "Empowering American Cities" from the Kenan Institute of Private Enterprise at the University of North Carolina. The report is a yearslong partnership between the institute and Fifth Third Bank, and while there are many lists of growing cities out there, this one goes beyond population statistics and incorporates a variety of economic drivers. Factors driving the top cities' growth, according to the institute's findings, include affordable housing, green space, the absence of a state income tax, walkable neighborhoods and warm weather. And while controversial tariffs, immigration policies and shrinking federal spending have created uncertainty and may slow growth, the top-performing cities still are expected to continue to make gains, according to the institute's chief economist Gerald Cohen. Still, the institute's insights served as a mere jumping off point for the USA TODAY Network project America's Evolving Cities. Journalists from across the country, who live and work in cities that made the list, took a close look at their hometowns' unique paths to success — and how fellow residents have benefited or suffered along the way. The Kenan Institute's report, along with insights from Cohen, provided an overview. Then the journalists filled in the picture from the ground in Phoenix, Des Moines, Nashville and Florida's Space Coast. They crisscrossed the suburbs, spoke with everyone from community leaders to working-class residents, dug through archival photos to illustrate their communities' evolution, and captured residents' connections with their home cities on video. The result is a comprehensive look at what it feels like to live in a growing city — the hope and tension, the nostalgia and excitement. Have a Nashville story to share? Reach city editor Liz Schubauer at lschubauer@ This article originally appeared on Nashville Tennessean: Reporting on the ground in one of America's Evolving Cities
Yahoo
12-06-2025
- Business
- Yahoo
Inside the success of America's growing cities like Phoenix, Nashville
Nashville and Phoenix landed high on a list of large U.S. cities expected to continue growing in 2025 even amid fears of a national recession. Controversial tariffs, immigration policies and shrinking federal spending have created uncertainty and may slow growth, but the top performing cities still are expected to continue to make gains, economist Gerald Cohen told the USA TODAY Network. "Job creation continues to look fairly healthy," he said. "Despite a lot of smoke, there wasn't a lot of heat on the economy." Cohen, chief economist of the Kenan Institute of Private Enterprise at the University of North Carolina, led the team of researchers who forecasted the top midsize and large cities that are projected to continue growing in the report "Empowering American Cities." The yearslong project is a partnership between the institute and Fifth Third Bank and, unlike many other published lists of growing cities, it takes a deeper dive into a variety of economic drivers beyond just population increases. Among large cities, Austin tops the institute's list of growing cities, while Nashville is listed as No. 5, largely due to its thriving music and entertainment industry as well as its status as a national health care hub. Phoenix, home to a hearty real estate market, landed at No. 10. Among midsize cities, Amarillo, Texas, took the top spot for projected growth, while Des Moines ranked fourth. Florida's Space Coast, referred to in the study as Palm Bay, took the No. 10 spot. A key driver for Des Moines is its position as a financial hub. The Space Coast is anchored by engineering, manufacturing and defense work. USA TODAY Network reporters who live and work in cities that made the list took a close look at their hometowns' unique paths to success — and how fellow residents have benefited or suffered along the way. The Kenan Institute team defined and analyzed "economic orbits," called Extended Metropolitan Areas, which can reach beyond the geographic borders of the U.S. Census' Metropolitan Statistical Areas. The orbits include cities, towns and counties with interlinked economies. Growing cities — including Phoenix and Nashville — have "exurbs" with jobs, homes and amenities up to 100 miles from the city center to attract a labor force that prefers working from home, according to the institute's findings. That's part of a post-pandemic trend expected to continue. Other factors driving the top cities' growth, according to the institute's findings, include: affordable housing, green space, the absence of a state income tax, walkable neighborhoods and warm weather. Cohen, also a research professor of finance, said it's too early to gauge the impact of ongoing policy changes initiated by President Donald Trump, including significant cuts to scientific research funding through the National Institutes of Health, which could impact Nashville, home to the corporate headquarters of HCA and research hospitals. Evolving immigration policies and historic tariffs, including on goods from Mexico and Canada, could impact supply chains and workforces, helping drive up the costs of cars and other products and slowing consumer spending. "We need foreign-born workers if we want to continue to grow the economy," Cohen said. "Research is very strong in saying that foreign-born workers are additives to the economy. They're doing jobs that we, the native-born population, wouldn't do." The project also examines a city's ability to attract and retain workers as well as their productivity. Nashville, known as Music City, has the nation's highest input-per-worker rate in the leisure and hospitality category, Cohen said. "It's double the U.S. productivity rate, and it's 20% higher than No. 2, which is Las Vegas," the economist said. In Nashville, the economic output, adjusted for inflation, is greater than $100,000 per worker in the leisure and hospitality fields, compared to the U.S. average of $50,000, Cohen said. Productivity gains are typically attributed to three things: better skilled people, either by hiring more skilled workers or by providing additional training for existing staff; upgraded technology or equipment; and innovation. Des Moines beat out New York City as the city with the largest percentage of its gross domestic product, or economic output, coming from the financial sector, Cohen said. Iowa's capital has a thriving market in banking and insurance, driving finance to capture a nearly 26% slice of its GPD, compared to the national average of just over 7%. Des Moines beat out all 150 cities studied. Florida's Space Coast, home to the Kennedy Space Center, is midsized but ranked No. 6 in terms of manufacturing durable goods out of all 150 cities studied. The area makes everything from boats and electronics to explosive-detecting robots for the military and materials for rockets that can withstand extreme environments. During the past decade, the Space Coast's manufacturing sector grew at an annual rate of nearly 9%, compared to the national average of slightly more than 1%, Cohen said. A robust commercial and residential real estate market along with a successful insurance sector help drive the economy in Phoenix. The area has the fifth largest real estate sector of the 50 large cities studied. Commercial and residential real estate constitutes more than 17% of the area's GDP, compared to the national average of less than 14%. April's median home price in the Valley of the Sun came in at $445,000, about $30,000 more than the national median existing-home price. The Phoenix area's population growth rate is more than 4% annually, double that of the national average. "What's notable about the area, it's got a nice combination of both influx of people and increases in productivity, which is driving the economy," Cohen said. "That's been the special sauce there." This article originally appeared on USA TODAY: Why Phoenix, Nashville, Des Moines, Space Coast are still up & coming Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
- Yahoo
Fifth Third Named Among the Best and Brightest in Wellness by National Association for Business Resources
CINCINNATI, June 09, 2025--(BUSINESS WIRE)--For the second consecutive year, Fifth Third (Nasdaq: FITB) has been named among the Nation's Best and Brightest in Wellness by the National Association for Business Resources (NABR). This award recognizes companies that have demonstrated exceptional commitment to promoting employee wellness and creating a healthy working environment. "This award highlights Fifth Third's dedication to fostering a workplace culture that prioritizes wellness through support, education and encouragement – helping employees lead happier, healthier lives," said Nancy Pinckney, chief human resources officer at Fifth Third. "Our innovative wellness programs are designed to help support employees holistically, including improving or sustaining their physical, financial, emotional and social well-being." Fifth Third continues to invest in the well-being of its employees through a comprehensive suite of benefits. The Bank also offers wellness and employee assistance programs, virtual and maternity concierge services, along with on-site concierges in larger locations, and subsidized back-up care for children and elder adults. The Nation's Best and Brightest in Wellness winning companies were evaluated by an assessment created and administered by a leading wellness research firm. Each entry was examined statistically for quantitative and qualitative data. Each survey was scored on a point system based upon criteria to benchmark and improve wellness program effectiveness. Best and Brightest in Wellness award winners were evaluated based on various categories, including wellness program culture, environment and employee input; onsite and remote offerings; physical health; mental health; financial health; leadership commitment; and outcomes, evaluation, analysis and tracking. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC. About the National Association for Business Resources The Best and Brightest in Wellness, Best and Brightest Companies to Work For, Best and Brightest CEOs and Leadership Teams in the Nation are programs of the National Association for Business Resources, and are presented in several markets: Atlanta, Charlotte, Chicago, Dallas/Fort Worth, Denver, Detroit, Houston, Miami, Milwaukee, Nashville, New England, New York, Northern California, Pacific Northwest, Southern California, West Michigan and Nationally. Nominations are now being accepted for all programs. Visit to obtain an application. View source version on Contacts Derek Cuculich (Media Relations) Matt Curoe (Investor Relations) | 513-534-2345
Yahoo
07-06-2025
- Business
- Yahoo
Fifth Third takes ‘intentionally unsexy' approach to mobile app improvements
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Ben Hoffman has no doubt Fifth Third Bank's peers and competitors are mulling some of the same mobile app features and enhancements as the Cincinnati-based lender. 'There is more convergence in bank strategy than there is in bank execution,' said Hoffman, Fifth Third's chief strategy officer and head of consumer products. 'It's really about your ability to execute' at a sustained pace, he said. For Fifth Third, that means leaning on dedicated staff, operating rhythms and experience, and systems set up to support success, he said. Last week, Fifth Third was named best mobile banking app experience among regional banks in a J.D. Power survey. The bank's app offers services like direct deposit switching and card controls, and features tools like SmartShield, its in-app security tool that 'gamifies' digital safety. The lender continues to work on enhancements to the app, which about 2.4 million bank customers use to handle everyday banking tasks. In Hoffman's eyes, the $212 billion-asset bank's approach stands out in part because of its focus on quality over quantity. 'We focus on quality where it matters, with the core theory being that, for the most part, our customers want banking to fade into the background,' he said. Rather than stuffing apps with features or equipping chatbots with an ever-growing roster of skills, 'it needs to just work to support real lives.' When Fifth Third releases a new feature in the mobile app, automated monitoring is set up to ensure the process works well; if there are defects, point people are contacted and troubleshooting begins. Product managers join release calls, no matter the hour, he noted. It's an 'intentionally unsexy' approach, he said. 'It's really about focusing on the things that matter to our customers and not falling in love with the thing that feels exciting and feels different,' Hoffman said. 'It is more important to customers that banking works, than that banking is delightful.' The bank's technology and communications spending has ticked up in recent years, from $416 million in 2022, to $474 million in 2024, with increased investments in technology modernization being one of the drivers, according to Fifth Third's annual filing. Bank executives, when reporting Q1 earnings in April, said technology investments would continue in the second quarter. The bank declined to comment on its expectation for technology spending this year, or what it's invested in the mobile app specifically. A spokesperson said Fifth Third has 735 technology employees in Cincinnati, and about 300 team members across technology, product, design and other areas of the company worked on development of the mobile app. Behind the scenes, Fifth Third has sought to be intentional with its approach to digital, with the way it's practically integrated into the organizational structure. The approach the bank has taken, and one the reasons Hoffman has a 'somewhat odd mandate': If digital lives off to the side, and the mobile app is disconnected from product and run by IT as a piece of technology not powered by research, 'you risk doing work for its own sake,' he said. And the collaboration among product, technology and design is reflected in physical co-location and culture at the bank, Hoffman said. Teams are structured by customer jobs to be done – like getting into the app or getting paid – rather than by product. 'When you organize that way and then you embed customer research and co-development with the customers at every step, you focus on the things that matter more to customers, and you ensure a higher degree of relevance and salience,' he said. That mindset continues to drive further enhancements. For one, Fifth Third is working on driving 'more smarts' into Jeanie, the bank's virtual banking assistant; the bank has sought to hone its ability to understand what a customer wants. 'We are certainly imagining a world in which you can achieve much of everyday banking in sort of native language interaction with Jeanie, just as you do today through screens and taps in a traditional mobile interface,' Hoffman said. Fifth Third is also undertaking improvements to SmartShield and its customers' Zelle experience, including helping clients manage fraud risk. Hoffman said he expects material releases or substantial developments in the next six months in each of those areas. The bank has focused its initial deployments of artificial intelligence in a couple of key places – 'we work very hard to not use AI for its own sake,' Hoffman said – with Jeanie being one of those. 'Hyper-customized' product and service recommendations, as well as identity and fraud protection, are the other areas, he noted. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
