All-Star Race in Charlotte this weekend.
“Our organizations share many common values including a focus on teamwork and a desire to challenge the status quo to be the best at what we do," said Greg Carmichael, bank chief executive officer, in a statement.
"We are looking forward to working with the Roush Fenway Racing organization, and Matt Kenseth, to help drive our business and build the Fifth Third Bank brand.”
The bank is expected to sponsor a similar number of races in the following years.
Fifth Third is based in Cincinnati but entered the North Carolina market in 2007 with its purchase of Charlotte-based First Charter Corp. Roush Fenway Racing is based in Concord.