Fifth Third to Acquire Comerica in $10.9 Billion Deal

 Comerica has more than 350 branches in Texas, California, Michigan, Arizona and Florida. PHOTO: SHELBY TAUBER/BLOOMBERG NEWS

Fifth Third Bancorp FITB 0.38%increase; green up pointing triangle said it would acquire Comerica CMA 16.04%increase; green up pointing triangle for $10.9 billion, marking the latest effort by regional lenders to bulk up and compete with behemoths such as JPMorgan Chase and Bank of America.

The all-stock deal would create one of the top 20 largest banks in the U.S., with $288 billion in total assets, according to Federal Reserve data.