Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OAK LAWN, IL -Fifth Third Bank, which is headquartered in Ohio but has ambitious expansion plans for metro Chicago, has announced plans to develop a sizable “lockbox” facility in this suburb southwest of Chicago. A lockbox facility processes consumer-to-business and business-to-business payments, typically for such industries as utilities, retail credit operations, financial services firms, cable, satellite and publishing companies.

The new facility, which will complement similar lockbox operations in the bank’s hometown of Cincinnati, will allow Fifth Third to further expand its treasury management business by offering its clientele greater processing volume capabilities. The bank will convert an existing company location into the 25,000-sf facility, which ought to be able to handle about 7.5 million payments per month when it opens next year.

Fifth Third Bank is the 14th-largest bank holding company in the United States, with assets of $78 billion. Its Chicago-area operations have $8 billion in assets and 118 locations in northern Illinois and northwest Indiana.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.