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Headquarters:
Fifth Third Center
Cincinnati, OH 45263
Employees: 22,000
CEO: Kevin Kabat
Stock Symbol: FITB
Website:
http://www.53.com
Career
Site
Fifth Third is among the top 15 bank holding
companies in the nation.
The Company has $111 billion in assets,
operates 18 affiliates with 1,233 full-service Banking Centers,
including 108 Bank Mart locations open seven days a week inside
select grocery stores and 2,214 ATMs in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania,
Missouri and Georgia.
Fifth Third operates five main businesses:
Commercial Banking, Branch Banking, Consumer Lending, Investment
Advisors and Fifth Third Processing Solutions. Fifth Third is
among the largest money managers in the Midwest and, as of December
31, 2007, has $223 billion in assets under care, of which it
managed $33 billion for individuals, corporations and not-for-profit
organizations.
In fiscal 2007, the company had revenues
of $8.49 billion and net income of $1.07 billion.
History
Fifth Third traces its origins to the Bank
of the Ohio Valley, which opened its doors in Cincinnati in 1858.
In 1871, that bank was purchased by the Third National Bank.
With the turn of the century came the union of the Third National
Bank and the Fifth National Bank, and eventually the organization
became known as "Fifth Third Bank" in 1969.
Benefits
Insurance Coverage - Includes health, dental, life and disability insurance.
Profit Sharing
Fifth Third has made "wealth accumulation" a reality
through Profit Sharing. On an annual basis, active employees
may receive contributions from the Bank's profits. The contribution
is based on Bank performance and ranges from 0-10% with a target
of 4%. The contribution is placed in a retirement account set
up for each employee. Profit sharing contributions vest after
five years of service. Eligible compensation for Profit Sharing
is accumulated from January 1st to December 31st of each year.
401(k) Plan
The 401(k) Plan allows employees to contribute between 1% and
20% of eligible compensation. Participation may begin after 30
days of service. These contributions are made on a pre-tax basis,
which means federal and state income taxes are lower. Also, employees
may elect to make after-tax deferrals into the Plan; however,
the total contribution may not exceed 20%.
401(k) Match
As a bonus, Fifth Third offers a 100% match on the first
4% of pretax contributions made by employees. The match vests
after three years of service.
Employee Stock Purchase Plan
Fifth Third Stock is an excellent way to accumulate wealth for
the future. Fifth Third offers employees the opportunity to purchase
Fifth Third Bancorp common stock through payroll deductions.
The Bank provides a 15% match on employee contributions. Employees
pay no service fees or commissions.
Vacation
Regular full-time and part-time
employees hired to work more than 20 hours/week earn vacation
based on length of service according to the following schedule:
| Length of Service |
Weeks of Vacation |
|
1 < 5 years |
2 |
|
5 < 11 years |
3 |
|
11 < 12 years |
3+1 day |
|
12 < 13 years |
3+2 days |
|
13 < 14 years |
3+3 days |
|
14 < 15 years |
3+4 days |
|
15 < 25 years |
4 |
|
25 years and over |
5 |
Vacation time will accumulate on an hourly
basis each pay period. Full-time employees receive 8 hours of
pay per vacation day. Part-time employees receive 5 hours of
pay per vacation day.
Vacation Purchase
Employees may be eligible to purchase up to 5 days of additional
vacation. This election can be made only during open enrollment.
Holidays
Fifth Third provides holiday pay
for all regular employees upon hire. Full-time employees receive
8 hours of pay per holiday. Part-time employees receive holiday
pay based on that day's normally scheduled hours. Ten national
holidays are observed.
Sick Days
All full-time employees are eligible
for sick days.* Sick days are divided into two categories: Current
and Medical Leave. These days are incremented on a per pay basis.
Current days are available for use in the current year when a
personal or family illness prevents an employee from working.
Medical Leave days are available for use when there is an extended
absence of four days or more due to an illness or injury. Any
remaining sick days at year-end are accumulated up to a maximum
of 130 days.
* Part-time employees hired to work more
than 20 hours/week accrue Medical Leave days.
Medical Appointments
Fifth Third recognizes that employees
may need time off occasionally for a medical appointment. Therefore,
full-time employees may be eligible for up to two hours for a
medical appointment per quarter.
Employee Banking Services
Fifth Third employees are eligible for several special banking
services such as:
Free Checking Account: Employees receive a checking account
without service fees and free designated style checks.
Administrative Services: The following administrative
services are free to all employees:
Traveler's Checks
Checking Transfers
Automated Savings
Jeanie Transactions (at a 5/3 location)
Jeanie's Private Line
Employee Visa/MasterCard: Employees may apply for an employee
Visa and/or MasterCard after 90 days of employment.
Employee Loans: Employees are eligible for special discounts
on mortgage loans after 90 days of employment.
Updated April 4, 2008
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