Fifth Third Bancorp Announces Plans to Participate in U.S. Treasury Capital Purchase Program

CINCINNATI, Oct. 26 /PRNewswire-FirstCall/ — Fifth Third Bancorp (NASDAQ:FITB) today announced its plans to participate in the U.S. Treasury Capital Purchase Program ("CPP" or "Program").

The Treasury has announced plans to purchase up to $250 billion of senior preferred shares on a voluntary basis in U.S. financial institutions, as part of its efforts to provide a firmer capital foundation for financial firms and to increase credit availability to consumers and businesses. Nine institutions participated initially in this plan and several others have subsequently announced their participation. We expect many additional institutions to also avail themselves of this program.