Fifth Third Bank loses $202 million

Fifth Third Bank loses $202 million

There are 217 comments on the WOOD-TV Grand Rapids and Michigan story from Jul 22, 2008, titled Fifth Third Bank loses $202 million. In it, WOOD-TV Grand Rapids and Michigan reports that:

Fifth Third Bancorp is reporting a net loss of $202 million, or 37 cents a share, in the second quarter compared with a profit of $376 million, or 69 cents a share, for the same period in 2007.

Join the discussion below, or Read more at WOOD-TV Grand Rapids and Michigan.

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Doc Boston

San Jose, CA

#1 Jul 22, 2008
I don't see why these guys should expect to break even, when nearly all other financial institutions haven't throughout the US. What makes them different? Over-confidence?
Jim

Littleton, CO

#2 Jul 22, 2008
This doesn't surprise me! They are the worst bank in the system today! I will never use 5/3rd again after the poor customer service my family has received!
Mark

Lovington, NM

#3 Jul 22, 2008
Go figure the way they treat long term customers.
allan greenspan

Kalamazoo, MI

#4 Jul 22, 2008
Jim wrote:
This doesn't surprise me! They are the worst bank in the system today! I will never use 5/3rd again after the poor customer service my family has received!
Maybe it is your branch or your city. My branch is wonderful. Very courteous, efficient, hard working. Tellers are a lil wooden & automatic, but get job done. Office help is really nice. Smile & joke w my son, take care of business over the phone or computer. I noticed on recent Chicago trip that they are all over that city. Very convenient. I am looking into buying their stock. From what I have heard they are 1 of the banks that did not get sucked into that whole sub prime mortgage mess.
kay

United States

#5 Jul 22, 2008
I guess that is why they are calling all their loans due and shutting down Millbrook and double JJ ranch!
GOOD

United States

#6 Jul 22, 2008
GOOD I HATE 5/3... I am shocked they lost money with all the fee's they charge...
Ogie Oglethorpe

Carmel, IN

#7 Jul 22, 2008
Allan,

You are going to pick the stock of a company that just reported a $202 million loss? In retrospect, the sell-off will begin and you can buy it cheap. Hmmm...I might want to rethink this.
clyde

Ravenna, MI

#8 Jul 22, 2008
The way that they treat the customer. I can understand. Wait until the car is almost payed off, be late one payment, then they start repo proceedings.
freedom1

Denver, CO

#9 Jul 22, 2008
Jim wrote:
This doesn't surprise me! They are the worst bank in the system today! I will never use 5/3rd again after the poor customer service my family has received!
I agree I left 5/3rd a few yrs back for same reason and my husband had used that bank for many yrs and he changed also we went to Chase and we are treated like people.
GVSU Grad

United States

#10 Jul 22, 2008
Perhaps Fifth Third Ballpark will get a new name if the sponsor ship is dropped.

Course job cuts are more likely since naming rights mean free advertising during sportscasts ("... Today at Fifth Third Ballpark, the Whitecaps played...")
Give me a break

Grand Rapids, MI

#11 Jul 22, 2008
Jim wrote:
This doesn't surprise me! They are the worst bank in the system today! I will never use 5/3rd again after the poor customer service my family has received!
This is SO true. I left because of the lack of customer service. To bad we can't have our Old Kent back:(
Gwinnie

Marquette, MI

#12 Jul 22, 2008
Great.. this will probably give them another stupid excuse to charge a fee for something. I'm in the process of leaving them right now for Wells Fargo.

“Secure our borders!!!”

Since: Jun 07

Tucson, AZ

#13 Jul 22, 2008
I was with Old Kent Bank for years. Then they got bought out by Fifth Third. I have continued to do business with them.
The only time I had issue with Fifth Third was when they called me on a Sunday Afternoon for a survey.
A few weeks I went in for a Signature Loan and had cash in my hand in less than an hour.
Never got that treatment from National City or Comerica Banks.
Then again, If you have bad credit I am sure they treat you different.
I hope they do not end up like Fannie May or Indy Mac.
Maybe a Credit Union is worth looking into?

“Equal Opportunity”

Since: Jul 08

NA

#14 Jul 22, 2008
I'm glad! I hope they go under! They're all about money. I was robbed last year, yes, robbed! I had video tape of two other people using my card and 5/3 refused to help me even with a police report. It took me six months to get my money back and it was several hundred dollars...the only reason I did...my parents have all of their business, 401k and land wrapped into the bank and threatened to take everything it the bank didn't help me! Come on! A bank that doesn't even provide their people fraud protection should be laughed at and shut down! I rarely say I hate anything, but after what they put me through, I hate them! I reported them to the BB too! Horrible that someone can be robbed have proof and a police report with no help from her bank!
marie

Houston, TX

#15 Jul 22, 2008
I've never had bad customer service but the fees they charge. If I have to wait in a line for over 10 minutes, I'm going to send an invoice for a waiting fee. I don't understand how they lose money with fees for every little thing. It's amazing.
Hex No

Grand Rapids, MI

#16 Jul 22, 2008
GOOD wrote:
GOOD I HATE 5/3... I am shocked they lost money with all the fee's they charge...
AMEN!
fifth turd

Littleton, CO

#17 Jul 22, 2008
GRGirl wrote:
I'm glad! I hope they go under! They're all about money. I was robbed last year, yes, robbed! I had video tape of two other people using my card and 5/3 refused to help me even with a police report. It took me six months to get my money back and it was several hundred dollars...the only reason I did...my parents have all of their business, 401k and land wrapped into the bank and threatened to take everything it the bank didn't help me! Come on! A bank that doesn't even provide their people fraud protection should be laughed at and shut down! I rarely say I hate anything, but after what they put me through, I hate them! I reported them to the BB too! Horrible that someone can be robbed have proof and a police report with no help from her bank!
Seriously, you hope they go under?! Yeah we need another 20,000 people unemployed. Big deal you couldn't keep track of your debit card and didn't report it stolen. BTW what about the store where they used the card, obviously they didn't ask for ID. I assume you and your parents will never shop there, they are more to blame. My wife worked at 5/3 for 16 years and was axed 3 months ago along with 300 plus people. Yes I am upset, but I know plenty of other people there who need their jobs.

Since: Oct 07

Louisville, CO

#18 Jul 22, 2008
The day I went to 5/3rd to close our accounts, there were 3 teller windows open.As I waited my turn, I could hear what was going on. Every person there was dealing with bounced checks. They treated my son so crappy, that we all went to Independent Bank. They are great.Independent's tellers are always fast and friendly. Fifth Thirds tellers never smiled and were barely alive. The branch by my house even is open on Sundays, plus free popcorn every time you go in! That is what I call customer service.

Since: Jun 08

Battle Creek, MI

#19 Jul 22, 2008
Jim wrote:
This doesn't surprise me! They are the worst bank in the system today! I will never use 5/3rd again after the poor customer service my family has received!
I haven't ever had a problem with them.
MEGs

Lansing, MI

#20 Jul 22, 2008
GOOD wrote:
GOOD I HATE 5/3... I am shocked they lost money with all the fee's they charge...
I agree! They charge outrageous fees for everything. I would NEVER use them as a bank. I hope they do go under for all the folks they have made go under by ripping their families off. 5/3 is a scam!

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