Fifth Third Bank is expanding its community impact beyond urban centers with the launch of its Small Towns & Small Cities initiative, and Lima, Ohio is the inaugural community. This four-year, place-based program will bring Fifth Third’s capital, expertise, and partnerships to advance locally led priorities in housing, small business, workforce development, and infrastructure.
The initiative builds on the momentum of Fifth Third’s Neighborhood Program, which since 2021 has invested nearly $410 million in urban communities and catalyzed an additional $200 million from partners. Lima represents the program’s next chapter, targeting smaller cities historically affected by disinvestment.
Economic Mobility Block by Block
“This partnership reflects Fifth Third’s belief that economic mobility is built locally – block by block, business by business, family by family,” said Kala Gibson, Chief Corporate Responsibility Officer at Fifth Third.
Lima’s local leadership, guided by Mayor Sharetta Smith, has been driving revitalization through the Better Together Plan. Fifth Third’s involvement aims to accelerate these efforts by providing financial resources, technical expertise, and strategic partnerships to strengthen housing, infrastructure, small businesses, and workforce pathways.
“Being selected as the first community in this initiative aligns with our Better Together Plan and accelerates work to expand homeownership, strengthen workforce pathways, and support entrepreneurs,” said Mayor Smith.
Strategic Focus Areas
Over the next four years, Fifth Third will deploy a comprehensive suite of solutions designed to deliver measurable impact:
Housing and Neighborhoods
- Finance housing projects via the Fifth Third Community Development Company and Tax Credit Lending Group
- Expand special purpose credit programs to increase homeownership access
- Support neighborhood revitalization aligned with local housing plans
Small Business Revitalization
- Provide grants, loans, and technical assistance through the Small Business Catalyst Fund
- Launch a $53,000 small business pitch competition to support local entrepreneurs
- Expand special purpose credit for businesses affected by disinvestment
Workforce Development
- Partner with JobsOhio and local stakeholders to create training pathways
- Strengthen employment participation through financial empowerment and employer partnerships
Infrastructure and Financial Access
- Support water and energy affordability improvements
- Modernize aging infrastructure across neighborhoods
- Expand access to free financial education and the Fifth Third Financial Empowerment Mobile
Community Partnerships
- Provide philanthropic support through the Fifth Third Foundation for youth development, housing stability, and neighborhood vibrancy
Listening, Partnering, Delivering Results
The program’s priorities were shaped by community listening sessions in 2025, where Fifth Third leaders engaged directly with residents and local leaders to identify the most impactful opportunities.
“Lima has worked hard to address long-standing challenges, and the community is gaining momentum,” said Susan Thomas, Head of Community Development for Fifth Third. “We’re investing because the community is resilient, the partnerships are strong, and the plans are in place to create measurable change.”
The Bigger Picture
Fifth Third’s initiative underscores a growing trend among financial institutions to move beyond transactional banking into place-based economic development. By combining capital with expertise, the bank aims to foster sustainable economic mobility and infrastructure resilience in smaller communities—demonstrating that the path to equitable growth often begins at the local level.
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