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TNB Sells Card Processing to Fifth Third

Town North Bank, a credit union-owned bank, has sold its card processing division to Fifth Third Card Processing.

By David Morrison | Updated on July 06, 2010

Town North Bank, a credit union-owned bank, has sold its card processing division to Fifth Third Card Processing.

“We made this purchase for growth and want to position ourselves for growth not cost cutting,” Royal Cole, president of Fifth Third’s financial institution division, stated. He also said that the purchase will not lead to layoffs of TNB employees. TNB Card Solutions will eventually be re-branded as Fifth Third Card Processing Solutions.

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