Fifth Third Bancorp has officially swallowed Dallas-based Comerica, closing a deal that instantly redraws North Texas’s banking map and puts everything from office leases to paychecks under fresh scrutiny. The Cincinnati lender is now planted squarely in the middle of Dallas’s finance scene, and plenty of Comerica employees are wondering what comes next.
The transaction closed yesterday, confirmed in a Form 8‑K filed with the U.S. Securities and Exchange Commission. The banks had previously billed the combination as creating a top‑10 U.S. institution with roughly $290 billion in assets, according to Fifth Third Bancorp.
Fifth Third Bets Big On Texas
Executives are pitching the acquisition as a fast track into high-growth Sun Belt markets, with Texas at the center of the strategy. Fifth Third has told investors it plans to roll out 150 new branches across the state by 2029, and the combined bank will operate in 17 of the 20 fastest‑growing large U.S. markets, per Banking Dive.
Frisco Layoffs Hit Nearly 200 Workers
The other side of the deal is already landing in the Dallas area. Comerica filed a WARN notice with the Texas Workforce Commission announcing a reduction that will hit 184 employees at its Frisco Star Tower office, with separations scheduled to start March 13. Local reports note the Frisco hub opened in 2023 and was built to house roughly 300 staffers. Comerica said it will offer resources to support those affected workers, according to CoStar.
Downtown Tower’s Future Remains In Flux
One towering question in downtown Dallas is what happens to the 60‑story Comerica Bank Tower. Developers have floated a plan to convert the building into a mixed‑use complex with hotel, residential and retail components, a shift that would rework hundreds of thousands of square feet of office space.
Legal Note
The Frisco WARN notice has already caught the eye of employment attorneys. Strauss Borrelli PLLC says it is investigating whether Comerica complied with the federal WARN Act after filing its notice with state officials, an issue first highlighted in local coverage.
What Customers And Workers Should Expect Next
For now, the banks insist it is business as usual for customers. Branches are expected to keep operating under the Comerica name while integration teams work behind the scenes toward a full systems and brand conversion later this year, according to Comerica…