Fifth Third’s bank closures reach Chicago market

Cincinnati-based Fifth Third Bank has closed eight Chicago-area locations as part of its companywide initiative to shutter 8 percent of its brick-and-mortar branches.

The closures, which took place in late October, amounted to 5 percent of the bank’s 149 Chicagoland sites as of June 30.

On Sept. 30, Great Southern reached an agreement with Fifth Third Bancorp (Nasdaq: FITB) to buy 12 branches in the St. Louis area and assume roughly $261 million in deposits and $155 million in loans from the public bank exiting the Gateway City market.

Read more from Crain’s Chicago Business.