Fifth Third Bancorp (NASDAQ: FITB) has published its 2016 annual report on corporate social responsibility (CSR). An interactive and responsive report can be accessed at https://www.53.com/csrreport/. Reports printed on recycled paper also are available in limited quantities.
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Fifth Third Bancorp 2016 CSR Report Cover (Photo: Business Wire)
“Fifth Third Bank’s commitment to good citizenship is tangible. It is defined, articulated and communicated in our 2016 CSR Report to help hold us accountable to the people and communities we serve,” said Brian Lamb, executive vice president and chief corporate social responsibility and reputation officer. “We are pleased to have worked so closely, and with so many across our footprint, to live the commitment to strong citizenship. It’s what building a better kind of bank is all about—the kind of bank that fundamentally improves the lives of customers and the wellbeing of communities.”
Fifth Third’s 2016 CSR Report includes the first year results of its $30 billion community commitment, which covers the years 2016 through 2020, and provides supporting detail of its lending, investment and service progress under the Commitment.
The report also includes feature stories about Fifth Third Impact Programming, including its $19.1 million in community donations, expansions in hiring for both its mortgage and small business units, and progress toward financially empowering people at all ages and stages of life.
Further, the CSR Report discloses, for the first time, Fifth Third’s employee demographic data. Fifth Third is proud to be among the first regional banks to publicly share the data. The report also notes the demographic data of its Board of Directors for easy accessibility.
The CSR Report is organized into five sections, which represent constituencies of the Bank: Consumers, Communities, Businesses, Employees and the Planet.
Consumers
Fifth Third Bank believes that lives are improved when individuals have easy access to traditional banking products and services, have the knowledge and tools they need to make financial decisions, and are empowered to actively manage their financial lives. Fifth Third educated 3,700 community members through its Empower U® program, and offered its Young Bankers Club® in all of its Consumer Bank markets for the first time. Fifth Third also signed a multi-year contract with EverFi, Inc., to create a new financial education and entrepreneurship course for high school students.
Communities
The Fifth Third Community Development Corporation invested more than $188 million in affordable housing, small business and historic preservation projects in 2016. It also made $19.1 million in philanthropic donations to improve lives in the community. Fifth Third Bank is fully committed to meeting the needs of all the communities it serves. It embraces its obligations to invest in and serve its communities and believes that building strong communities builds a stronger bank.
Businesses
Fifth Third made $1.96 billion in small business loans in 2016, including $138.7 million in SBA loans. Fifth Third made a $465,000 grant to the Accion U.S. Network to support lending to undeserved small businesses in Illinois, Indiana, Florida, Michigan and Ohio.
Employees
Fifth Third expanded medical coverage for additional services like autism services and infertility treatments, and laid the groundwork for an expanded parental leave program for Fifth Third employee parents. The Company also made plans for its new Maternity Concierge program. Fifth Third believes its success is entirely attributable to the team of employees, shareholders, board members and community partners who work together to fulfill the Bank’s Purpose to improve the lives of the individuals and communities it serves.
Environment
Fifth Third launched a significant LED lighting retrofit program, commenced implementation of the new OurWorkplace open office standard and made organizational changes that will accelerate progress in the years ahead. Fifth Third is working to drive sustainability into its corporate culture, increase employee engagement and create value for the customers and the communities it serves.
For more information about the CSR Report, please visit https://www.53.com/csrreport/.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of December 31, 2016, the Company had $142 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,495 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2016, had $315 billion in assets under care, of which it managed $31 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC, Equal Housing Lender.
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Contacts:
Stacie Haas, (513) 534-5113
