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Fifth Third obtains regulatory approvals to acquire First Charter

Fifth Third Bancorp has received all regulatory approvals on its pending acquisition of First Charter Corporation, the holding company of First Charter Bank.

The deal allows for Fifth Third Bancorp to acquire 57 branches in North Carolina and two in suburban Atlanta. The integration is expected to be finalized in the second quarter of 2008.

The combination provides Fifth Third Bank an entrance into the North Carolina market and adds to its small presence in Georgia, which it acquired with the acquisition of R-G Crown Bank in late 2007.

Bob James, president and CEO of First Charter Bank, said: We are pleased that the merger with Fifth Third has received all regulatory approvals. We look forward to offering our customers even greater choices in products and services.