Fifth Third Bank is embarking on a major branch building expansion in South Florida while other banks are closing branches. It currently has 16 branches in tri-county South Florida, but in 2024 it is building new ones at the rate of 25 a year across the South Florida footprint with the potential to add even more. Leading the charge is Stephanie Green, a well-rounded veteran banker who broke a big glass ceiling early in her career as the bank’s first African American management program trainee. Fifth Third, which is headquartered in Cincinnati, is a market leader on Florida’s southwest coast with 59 branches.
“The growth trajectory for South Florida is an important part in the bank’s overall growth strategy,” Green says. “The southeast corridor, in particular South Florida, has been going so well that the bank has decided to double down on that growth strategy. The west coast is more of a mature market where we’ve been established for over 30 years, and we are a top five bank. However, in southeast Florida, we’re a little blip on the banking map where, even when we doubled our footprint year over year, we’re still just about 1 percent market share. Our initial goal is to be 8 percent in market share and deposit share.
A Goldilocks Bank
Fifth Third is growing in South Florida with more than a 165-year legacy and a position of financial strength.
Its history traces back to 1858 when the Bank of the Ohio Valley opened in Cincinnati. It was bought out by Third National Bank, which merged with Fifth National Bank, which resulted in the current name.
These days, Fifth Third has $213 billion in assets, $547 billion in assets under care, 1,073 banking centers and 2,101 branded ATMs. Its footprint stretches from Michigan’s upper peninsula down through the Midwest, Georgia, the Carolinas, Florida and now Alabama.
Shares of the company (NASDAQ: FITB) have been on a tear in the past year, up 45 percent to trade recently at $41.63. It ranks as the 15th largest bank nationally.
One might describe Fifth Third as the Goldilocks of banks — not too big and not too small.
“We have the products, solutions, and technology of any of the large money center banks, But we execute and make decisions at the regional level, giving our clients more of a community bank feel,” Green says. Building out its branch network in South Florida will help bring its personal touch to customers, who still want consultative discussions when making big decisions like buying a new home, purchasing a car, financing children’s education or taking out a CD.
Giving back to the community is also a pillar of the bank’s values, which is reflected in Green’s membership on the board of directors of The Beacon Council (Miami-Dade County’s public/private economic development organization) and the Urban League of Broward County.
Green’s Back Story
Green was born and raised in Columbus, Ohio, leaving for just a few years to earn a bachelor’s degree in business management and finance from Hampton University in Virginia. Her father was a children’s hospital lab technician for 30 years. Her mother was a social worker, who ran a nonprofit and eventually became a college professor.
“So, I’m a banker, that’s what I do, but supporting others is really who I am,” Green says. “I learned that from my parents. I watched them helping others and working with people my entire life. I get to do that on the financial front, helping people buy homes, helping them buy or expand their businesses, and protecting and growing their wealth.”
Young Stephanie almost went to law school, but didn’t hit it off with a dean who wondered how she would pay for it and expressed disdain about the idea of working her way through school. She thought about going to another law school and for years kept her LSAT tests up to date. but found Fifth Third at a job fair and kept getting promoted, got married and had children — life happened.
Green started as a teller and was told she could apply for the bank’s management program in six months. “When I went to apply for that role, my manager at the time said to me, ‘They’re not looking for people like you.’ Wow! I didn’t know exactly what he meant by that because I didn’t ask.”
She talked with one of the recruiters from the job fair, who worked in HR. “I told her what happened, and she said, ‘You’re exactly the kind of person we’re looking for.'”
Lesson learned? “You have two hands for a reason – one to help yourself and one to help someone else. I’ve always been very grateful for those who have advocated on my behalf, which is why I’m very intentional about advocating on behalf of others,” Green says.
Green rode the wave of Fifth Third’s growth in Columbus. It only had four branches and 50 employees when she joined, but at the peak of its expansion, it had grown to more than 100 branches and about 1,00 employees.
“As the bank would expand or we’d have a need for leadership in a different line of business, I was often asked to go help in that line of business,” she says. She spent five years in retail banking, rising through the ranks by managing a branch and then a region.
She had experience with SBA lending and was tapped to launch the bank’s small business lending group in Columbus. She spent five years in that lending group with two young children and joining civic and charitable boards.
She jokes about how she was constantly on the run and sometimes bursting through doors like the Kramer character on Seinfeld as she tried to stay on time.
Fifth Third made an acquisition that would double its size and she was asked to help out in human resources as an employee relations and recruiting manager. That was invaluable in learning about the need for clear, open and honest communications and how to confront issues without being confrontational.
“If you’re a leader of people and the goal is to achieve positive results, you have to be comfortable communicating where you are and where you need to be with each individual employee, as well as with the team, otherwise it’s really difficult to accomplish those goals when everyone isn’t on the same page,” she says.
Green picked up more skills when the bank needed residential mortgage managers. She was a regional residential mortgage sales leader for 13 years.
“I literally thought I would retire in residential mortgage. I loved it,” she says. Our team was very successful. It was fun. It was interesting. We were able to navigate the mortgage crisis during 2008-2009. It was a lot of work. But, when you surround yourself with exceptional people, you can do hard things.”
Then, she was tapped by the female leader of Fifth Third Central Ohio’s Wealth and Asset Management division. Green initially wasn’t very interested, but her experience in consumer lending, residential mortgages and commercial lending made her a good fit.
“Sometimes people see things in you that you don’t see in yourself,” Green says. “She was like, ‘Come on, you’ll be great.’ So, I went down and met with the team, and a lot of the people who were on that team were people that I had hired when I was in human resources, so I knew them. It was old coming home week, and it was as if I was supposed to be there.”
She was part of a group that started a Women of Wealth leadership development program at the bank. Members are informed about best practices, learn from each other, share their stories and get the support they need.
When her boss was promoted, Green took over the entire wealth and asset management business in Central Ohio. She was working on finishing her executive MBA at Ohio State University when the opportunity to lead South Florida operations came up in 2023. She knew the region somewhat from visiting clients in the winter.
“My understanding of South Florida then is nothing like it is now — the vibrancy of the communities and they’re all so different. I love describing South Florida to people who aren’t really familiar, because everybody has this real myopic view of wherever they’ve been on vacation,” she says. Green likens South Florida to a continent with each market being a different country with its own unique culture and business strategies. She loves the differences and appreciates the vibrancy and fun of engaging with them.
In her personal life, Green loves to cook, bike ride, swim and hike. She and her husband like to travel and are sometimes joined by their children who are 31 and 32. Her parents have relocated close to her home in Naples.
Her husband, Jack, is executive vice president and chief lending officer at Adelphi Bank, the first black-owned bank in Ohio, so the family still has deep roots in Columbus. Green knows Alligator Alley pretty well as she often stays in Fort Lauderdale.
“I’ve been very fortunate. I’ve had six different careers under the same employer umbrella. I work for an organization that invests in their communities, puts the customer at the center, and gives their employees the opportunity to learn and grow,” she says. “Most importantly, I’ve had the pleasure and privilege to work with exceptional people over the last 35 years, and so many have contributed to my evolution as a leader and a person. The people of South Florida have proven to be no different. They’ve been extremely warm and welcoming; so many relationships already made — relationships are magic. The South Florida team is smart, effective, and they care for our clients and each other like they care for their own families. So, I’m extremely excited to call South Florida home and work with this team to accelerate our growth in South Florida.
