Access to Capital: The State of Banking
President and CEO of Fifth Third Bank, Tim Spence, gives insight into the health of regional banks and whether it could affect your ability to access capital.
On May 3rd, Fifth Third Bank celebrates “Fifth Third Day,” the third day of the fifth month, by volunteering in the community and reminding us about the importance of supporting one another. Spence emphasizes community as an important part of the success of banks.
Spence explains bank failures over the last month and a half that have resulted from a number of banks being more focused on the tech sector than the real economy. “The good news for the system overall and in particular, the state of Indiana, is that the banks that are in operation in the Midwest were virtually unaffected,” Spence said.
The President and CEO emphasizes the importance of healthy and strong communities and customers.
Midwest banks benefit from this by having stable communities and customers that support and understand the importance of this.