The big Ohio bank slid $2, or 52 percent, at $1.70 on the New York Stock Exchange. The stock fell more than 25 percent on Friday.
"There are a number of regional banks which may need help, either because of the weakening mortgage market or simply because of the weakening economy," said Michael Sheldon, chief market strategist, RDM Financial Group.
"I think it's absolutely a crisis of confidence, there's some real weakness in the economy," he said. "But the larger issue is simply a paralysis of the economy or lack of confidence in financial institutions."
Earlier Monday, Citigroup Inc
The closely watched S&P Financial index <.GSPF> fell 5 percent, with Fifth Third Bancorp
Two weeks after the financial crisis reached a new and more serious level, including the disappearance of the traditional Wall Street investment bank, several European bank were rescued on Monday.
Last week, JPMorgan Chase & Co
"The biggest banks are getting too big to fail," said William Larkin, fixed income manager at Cabot Money Management in Salem, Mass.
"That's going to be an issue going forward because obviously there's going to be some new, heavy regulation coming down the pipeline."
(Reporting by Juan Lagorio and Jonathan Spicer; editing by Jeffrey Benkoe)