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No. of Recommendations: 3
This is also a company that was once very successful & admired by investors. Then, for no really good reason, the bank suddenly lost the ability to manage s/t vs l/t interest rate risk. The market is not a fan of dumb banks, and when they need to try to make a recovery in the jaws of a regional recession...well, the market is saying, "Show me."

For the past 3 years, the best thing that anyone could say about good old FITB is that it was a potential buyout target from a foreign buyer or perhaps by USB. That does not appear to be in the offing in the current environment.

So if you want a not-so-great bank with a decent-sized presence in the difficult Ohio/Florida markets...that has been kicked down...then this is your kind of bank. My own opinion is that they need a super-star from the outside (a Jamie Dimon Mini-me) to turn this value trap ship around.

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