CINCINNATI--(BUSINESS WIRE)--Fifth Third Insurance Agency Inc., an indirect, wholly owned subsidiary of Fifth Third Bancorp (Nasdaq: FITB), announced today that it has reached an agreement to acquire Epic Insurance Solutions Agency LLC.
Epic Insurance Agency LLC recently reached an agreement to acquire Integrity HR, Inc. Both transactions are expected to close in fall 2017.
Epic Insurance Solutions was founded in 2013. Its primary service areas include commercial and personal property insurance and casualty, employee benefits and HR consulting services. Integrity HR was founded in 2007. Its primary services include HR outsourcing, recruiting, training, HR policies and procedures and other HR-related services. The Louisville-based insurance agency and company primarily serve the Kentucky and Indiana market.
“This acquisition enables Fifth Third to enhance our insurance capabilities and HR consulting services to support the diverse needs of our customers,” said Mike Michael, head of wealth and asset management for Fifth Third Bank. “Additionally, it allows us to expand our team’s exceptional talent pool and further deepen our understanding of the industry.”
This announcement builds upon Fifth Third’s recent acquisitions of R.G. McGraw Insurance Agency and The Retirement Corporation of America. Fifth Third is making substantial investments in value-added products and services to help clients with their most pressing financial and risk management challenges. This focus supports the NorthStar strategy, a three-year plan designed to deliver strong, consistent returns through economic cycles.
“The partners here at Epic, Jason Rankin, John Neace and I are excited about the opportunity to join Fifth Third Bank, a company that we feel is a natural and cultural fit for our customers and our team,” said Don Thompson, president of Epic Insurance Solutions.
“The combination of Employee Benefit Services and HR Consulting services combined with the strength of Fifth Third provides significant solutions for our clients,” said Amy Letke, president of Integrity HR.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2017, the Company had $141 billion in assets and operated 1,157 full-service Banking Centers and 2,461 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to more than 45,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2017, had $330 billion in assets under care, of which it managed $34 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. 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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