Fifth Third Launches Small Towns & Small Cities Initiative to Advance Community & Economic Development

Lima, Ohio selected as the first location for investment

LIMA, Ohio--(BUSINESS WIRE)--Fifth Third (NASDAQ: FITB) today announced that Lima has been selected as the first community in the Bank’s new Small Towns & Small Cities initiative, a place-based community and economic development program designed to support communities with a history of disinvestment. The four-year commitment will bring Fifth Third’s capital, expertise and partnerships to advance Lima’s locally led priorities in housing and homeownership, small business, workforce development and infrastructure.

Fifth Third’s Small Towns & Small Cities initiative builds on the momentum of the Fifth Third Neighborhood Program, which since 2021 has invested nearly $410 million in urban communities across the U.S. and helped catalyze an additional $200 million from partners. Lima represents the next chapter in this momentum.

“This partnership reflects Fifth Third’s belief that economic mobility is built locally – block by block, business by business, family by family,” said Kala Gibson, chief corporate responsibility officer for Fifth Third. “Lima is a resilient community, and under Mayor Sharetta Smith’s leadership, the city is gaining transformational momentum. We’re proud to invest our capital, expertise and partnerships to help accelerate local priorities and deliver lasting opportunities for residents.”

Lima is a resilient community with a proud industrial tradition, strong local leadership, and a clear vision for the future. With the launch of Mayor Smith’s Better Together Plan, the city is building momentum toward revitalization and renewed opportunity. Fifth Third’s partnership will build on that momentum, supporting community-led efforts to modernize housing, improve infrastructure, and help increase economic mobility for Lima’s residents and small businesses.

“Lima is honored to be selected as the first community in Fifth Third’s Small Towns & Small Cities initiative, and we’re grateful for a partner that understands economic mobility is built at the local level — on our blocks, in our neighborhoods, and through the success of our small businesses and working families,” said Mayor Sharetta Smith. “This four-year commitment aligns with our Better Together Plan and accelerates the work we’re leading to expand homeownership, strengthen workforce pathways, modernize infrastructure and support entrepreneurs. Together, we will turn this transformational momentum into measurable results that residents can see and feel in their everyday lives.”

Over the next four years, Fifth Third will deploy its full suite of place‑based community and economic development solutions and invest intellectual, social and financial capital to help advance Mayor Smith’s Better Together Plan, a locally led strategy to strengthen neighborhoods, expand economic opportunity, improve housing and modernize essential infrastructure.

Focus areas include:

Strengthening Housing and Neighborhoods

• Finance housing and community development through the Fifth Third Community Development Company and Tax Credit Lending Group
• Expand Fifth Third’s special purpose credit programs to increase access to homeownership
• Support neighborhood revitalization efforts tied to Lima’s housing and infrastructure plans

Revitalizing Small Business Corridors

• Provide grants, loans and technical assistance through the Fifth Third Small Business Catalyst Fund
• Launch a small business pitch competition to support Lima’s entrepreneurs, awarding $53,000 in grants and capacity-building scholarships
• Expand Fifth Third’s special purpose credit programs for small businesses disproportionately affected by disinvestment

Expanding Workforce Opportunity

• Partner with JobsOhio and local stakeholders to build training pathways aligned with Lima’s workforce needs
• Strengthen employment participation through financial empowerment and employer partnerships

Improving Infrastructure Resiliency

• Support improvements that enhance water and energy affordability
• Advance efforts to strengthen aging infrastructure across neighborhoods

Advancing Financial Access

• Expand access to Fifth Third’s free financial education programs
• Bring the Fifth Third Financial Empowerment Mobile directly to residents and small businesses

Supporting Community Partners

• Provide philanthropic support through the Fifth Third Foundation to strengthen partnerships with organizations focused on housing stability, youth development and neighborhood vibrancy

These priorities were informed by community listening sessions held in 2025, where Fifth Third leaders heard directly from city leaders and residents about the most effective ways Fifth Third could support local housing, economic development, and infrastructure goals.

“Lima has worked hard to address long-standing economic, housing and infrastructure challenges, and the community is gaining momentum in its revitalization efforts,” said Susan Thomas, head of community development for Fifth Third. “We’re investing because this community is resilient, the partnerships are strong, and the plans are in place to create measurable change. Fifth Third is proud to help accelerate this transformational momentum.”

Fifth Third’s place-based economic development approach combines capital with a core solutions toolkit, including investments and financing for housing, small business support and technical assistance, financial access and mobility programs, philanthropy for workforce development, and deploying actions to address climate resiliency and energy affordability for residents.

About the City of Lima

Founded in 1831, Lima is the county seat of Allen County and a regional hub for government, industry, and culture in northwest Ohio. The City of Lima is committed to building a vibrant, inclusive community through strategic investment, collaboration, and service to residents.

About Fifth Third

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies^® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ^® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.