June 10, 2017, 6:00 AM
Dear Mr. Berko: We bank at Fifth Third Bank and own 1,000 shares of the stock, which you advised us to buy in 2009 at $7.75 a share. I like the stock’s performance, but when I bragged to friends (a retired banker and his wife) about our good fortune ($16,250 profit), both told me to sell the stock because “the scummy management in the home office doesn’t know what the branch offices are doing.” They also bank at Fifth Third. They’d like to change banks, but automatic deposit instructions (from Social Security, dividends, annuities, investment mortgages, royalties, etc.) become too complicated, so they’d wind up missing some payments that would get stuck in limbo. They don’t like Fifth Third’s policy of changing the staff and tellers every few months, as it’s confusing to bank with strangers. We have noticed this, too, and are concerned enough to sell the stock if you say so.