A Fifth Third Bancorp board member spent more than a million dollars to buy shares of the Cincinnati-based banking services company cheaply, but then got even cheaper as concerns about the health of the banking sector continued to mount.
After the stock declined a total of 9.9% on March 9-10 as the failures of SVB Financial Group’s Silicon Valley Bank and Signature Bank went public, director Gary Hemminger stepped in on March 13 to spend $1.27 million to buy . 47,500 shares.
According…