Could a red, white and blue Fifth Third in-store branch pop up in a Meijer Inc. store someday? That's not likely right away, but it's an idea Fifth Third would consider. That's provided that another Cincinnati corporate giant, Kroger Co., does not have a store nearby.

        The question of Fifth Third opening an in-store branch in Meijer blossomed last week when the Cincinnati-based banking company appointed Hendrik Meijer, co-chairman of Meijer Inc., to its board.

        Mr. Meijer also was a board member of Old Kent Financial Corp., which Fifth Third acquired in April for $5 billion. Both Meijer and Old Kent have corporate headquarters in Grand Rapids, Mich.

        Meijer has 148 supermarket-discount department stores in Michigan, Ohio, Indiana, Illinois and Kentucky. Fifth Third is one of the industry's pioneers in opening branches in grocery stores.

        But executives from Fifth Third and Meijer said there are no talks to open in-store branches in Meijer. Fifth Third does have an in-store branch at a Meijer in Port Huron, Mich., north of Detroit.

        Still, Fifth Third said it would welcome opening in-store branches in Meijer where Kroger has no presence. Fifth Third has 145 in-store branches nationally. Of those, 125 are in Kroger nationally, including 39 at Kroger stores in Greater Cincinnati.

        "We're very happy with our banking relationship with Kroger,” Stacie Yee, a Fifth Third spokeswoman, said.

        But Fifth Third, one of the nation's most aggressive banks, rarely misses a beat to generate new revenue. And it would like to expand business relationships it has with Meijer, including processing credit cards for the chain.

        And Meijer execs said most of their 148 stores have in-store branches with existing banks. Firstar, Fifth Third's arch-rival, has branches inside Meijer in West Chester, Eastgate, Loveland, Forest Park, Milford, Hamilton, Middletown, Florence and Cold Spring, Ky.

        In-store branches have become popular because they provide banks new ways to access thousands of potential customers and save money by opening outlets in stores instead of building traditional brick-and-mortar branches.

        Meijer said it has a few stores with no in-store branches and did not elaborate on terms of its lease agreements.

        "You should not read too far into Mr. Meijer's appointment to the board,” said Steven VanWagoner, a Meijer spokesman.

        Have a tip about a Tristate company that should be included in our Buzz? Call (513) 768-8147 or e-mail business@enquirer.com.
       

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