Finance History | Fifth Third — Assets Carried Across Fourth Street
· 1908-6
Unreviewed contributionBy kevin · · updated · Report an issue
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Finance History | Fifth Third — Assets Carried Across Fourth Street
kevin
People treat Fifth Third as a Fountain Square tower that always printed a fraction on the door.
The first book opened on Third Street.
On 17 June 1858 William W. Scarborough's Bank of the Ohio Valley opened in Cincinnati between Vine and Walnut, then the city's financial row. On 23 June 1863 Third National Bank organized under National Bank Act charter number 20 and set up at Third and Walnut. In 1871 Third National took the Ohio Valley book.
Queen City National Bank changed its name to Fifth National Bank in 1888. On 1 June 1908 the two national banks merged as the Fifth-Third National Bank of Cincinnati. Clerks carried Fifth National's assets by hand across Fourth Street to Third National's house.
For two weeks the combined name sat as Third Fifth National. Officers dropped that order. A later telling says Fifth-Third sounded safer than Third Fifth, which could be read as three fifths of whiskey in a dry decade. The hyphen later came off. The fraction stayed.
Charles Hinsch, president at the merger, had wanted National Bank of Commerce. A rival already held that title. The awkward number was the name that cleared.
Fifth Third Center now stands at 38 Fountain Square Plaza, a few blocks from the Third Street counter. The bank still files from Cincinnati. The name still records which two national charters were walked across the street.
Photo: public-domain city view of Fountain Square and the Cincinnati riverfront, via Wikimedia Commons.
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