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Fifth Third Bancorp Re-submits CCAR 2018 Capital Plan To The Federal Reserve

While reporting financial results for the third quarter, Fifth Third Bancorp (FITB) revealed Tuesday it has re-submitted its CCAR 2018 capital plan to the Federal Reserve, recognizing the pro forma impact of the combined Fifth Third MB Financial post-merger entity.

Meanwhile, Fifth Third said expects to resume capital distribution activities consistent with the originally-submitted April 2018 capital plan. The timing and amount of this activity is subject to market conditions and applicable securities laws.

On September 18, MB Financial, Inc. common stockholders approved Fifth Third's acquisition in a deal valued at about $4.7 billion, which was originally announced on May 21, 2018. The acquisition is expected to close in the first quarter of 2019, subject to regulatory approvals and other customary closing conditions.

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