[Executive Summary & Key Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Key%20Highlights) This section provides an initial overview of Fifth Third Bancorp's strong Q3 2025 performance, highlighting diluted EPS growth, positive operating leverage, and strategic financial management across net interest income, noninterest income, and expense control [Key Financial Data & Highlights](index=1&type=section&id=Key%20Financial%20Data%20%26%20Highlights) Fifth Third Bancorp reported Q3 2025 diluted EPS of $0.91, driven by strong revenue growth and expense discipline, marking the 4th consecutive quarter of positive operating leverage Key Financial Data (3Q25 vs. Prior Periods) | Metric | 3Q25 | 2Q25 | 3Q24 | | :----------------------------------- | :----- | :----- | :----- | | Net income available to common shareholders ($M) | $608 | $591 | $532 | | Net interest income (FTE) ($M) | $1,525 | $1,500 | $1,427 | | Noninterest income ($M) | $781 | $750 | $711 | | Noninterest expense ($M) | $1,267 | $1,264 | $1,244 | | Earnings per share, diluted | $0.91 | $0.88 | $0.78 | | Tangible book value per share | $21.66 | $20.98 | $20.20 | | Net interest margin (FTE) | 3.13% | 3.12% | 2.90% | | Efficiency (FTE) | 54.9% | 56.2% | 58.2% | | Average portfolio loans and leases ($M) | $123,326 | $123,071 | $116,826 | | Average deposits ($M) | $164,754 | $163,575 | $167,196 | | Net charge-off ratio | 1.09% | 0.45% | 0.48% | | Nonperforming asset ratio | 0.65% | 0.72% | 0.62% | | Return on average assets | 1.21% | 1.20% | 1.06% | | CET1 capital | 10.54% | 10.58% | 10.75% | * Adjusted Pre-Provision Net Revenue (PPNR) increased **6% sequentially** and **11% year-over-year**, marking the highest annual growth rate in over two years[3](index=3&type=chunk) * The company repurchased **$300 million of shares** in the quarter and achieved a **7% increase in tangible book value per share** over the past year[3](index=3&type=chunk) [Income Statement Highlights](index=2&type=section&id=Income%20Statement%20Highlights) Net income available to common shareholders increased 3% sequentially and 14% YoY to $608 million, with diluted EPS rising 3% sequentially and 17% YoY to $0.91 Condensed Statements of Income (3Q25 vs. Prior Periods) | Metric ($ in millions, except per share data) | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :------------------------------------------ | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Net interest income (NII) | $1,525 | $1,500 | $1,427 | 2% | 7% | | Provision for credit losses | 197 | 173 | 160 | 14% | 23% | | Noninterest income | 781 | 750 | 711 | 4% | 10% | | Noninterest expense | 1,267 | 1,264 | 1,244 | — | 2% | | Net income available to common shareholders | $608 | $591 | $532 | 3% | 14% | | Earnings per share, diluted | $0.91 | $0.88 | $0.78 | 3% | 17% | Diluted Earnings Per Share Impact of Certain Items - 3Q25 | Item (after-tax impact; $ in millions, except per share data) | Impact | | :---------------------------------------------------------- | :----- | | Interchange litigation matters | $(21) | | FDIC special assessment (noninterest expense) | 5 | | After-tax impact of certain item(s) | $(16) | | Diluted earnings per share impact of certain item(s) | $(0.02) | [Net Interest Income](index=3&type=section&id=Net%20Interest%20Income) Fully-taxable equivalent (FTE) Net Interest Income (NII) increased 2% sequentially to $1.525 billion and 7% YoY, driven by improved earning asset mix, fixed-rate asset repricing, and strategic management actions Net Interest Income (FTE) Analysis | Metric (FTE; $ in millions) | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :-------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Net interest income (NII) | $1,525 | $1,500 | $1,427 | 2% | 7% | | Yield on interest-earning assets | 5.18% | 5.18% | 5.43% | — | (25) bps | | Rate paid on interest-bearing liabilities | 2.77% | 2.78% | 3.38% | (1) bps | (61) bps | | Net interest rate spread | 2.41% | 2.40% | 2.05% | 1 bp | 36 bps | | Net interest margin (NIM) | 3.13% | 3.12% | 2.90% | 1 bp | 23 bps | * The improvement in NII and NIM was primarily due to improved earning asset mix, fixed-rate asset repricing, and strategic management actions decreasing the cost of interest-bearing liabilities[7](index=7&type=chunk)[8](index=8&type=chunk) [Noninterest Income](index=4&type=section&id=Noninterest%20Income) Total noninterest income increased 4% sequentially to $781 million and 10% YoY, primarily driven by strong growth in capital markets fees and wealth and asset management revenue Noninterest Income (3Q25 vs. Prior Periods) | Noninterest Income ($ in millions) | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :-------------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Wealth and asset management revenue | $181 | $166 | $163 | 9% | 11% | | Commercial payments revenue | 157 | 152 | 154 | 3% | 2% | | Consumer banking revenue | 144 | 147 | 143 | (2)% | 1% | | Capital markets fees | 115 | 90 | 111 | 28% | 4% | | Commercial banking revenue | 87 | 79 | 93 | 10% | (6)% | | Mortgage banking net revenue | 58 | 56 | 50 | 4% | 16% | | Total noninterest income | $781 | $750 | $711 | 4% | 10% | Noninterest Income Excluding Certain Items | Noninterest Income ($ in millions) | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :-------------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Noninterest income (U.S. GAAP) | $781 | $750 | $711 | | | | Interchange litigation matters | 18 | 1 | 47 | | | | Securities (gains) losses, net | (10) | (16) | (10) | | | | Noninterest income excluding certain items (a) | $789 | $735 | $748 | 7% | 5% | * Capital markets fees saw a strong rebound, increasing **28% sequentially**, driven by loan syndications and M&A advisory revenue[11](index=11&type=chunk) [Noninterest Expense](index=5&type=section&id=Noninterest%20Expense) Total noninterest expense remained stable sequentially at $1.267 billion and increased 2% YoY, primarily due to increases in equipment, occupancy, marketing, and technology expenses Noninterest Expense (3Q25 vs. Prior Periods) | Noninterest Expense ($ in millions) | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :-------------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Compensation and benefits | $685 | $698 | $690 | (2)% | (1)% | | Technology and communications | 128 | 126 | 121 | 2% | 6% | | Net occupancy expense | 89 | 83 | 81 | 7% | 10% | | Equipment expense | 44 | 41 | 38 | 7% | 16% | | Loan and lease expense | 39 | 36 | 34 | 8% | 15% | | Marketing expense | 34 | 43 | 26 | (21)% | 31% | | Total noninterest expense | $1,267 | $1,264 | $1,244 | — | 2% | Noninterest Expense Excluding Certain Items | Noninterest Expense ($ in millions) | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :-------------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Noninterest expense (U.S. GAAP) | $1,267 | $1,264 | $1,244 | | | | Interchange litigation matters | (9) | — | (10) | | | | Severance expense | — | (15) | (9) | | | | FDIC special assessment | 6 | — | — | | | | Noninterest expense excluding certain item(s) (a) | $1,264 | $1,249 | $1,225 | 1% | 3% | | Non-qualified deferred compensation (expense)/benefit | (11) | (16) | (10) | | | | Noninterest expense excluding certain item(s) and non-qualified (a) deferred compensation | $1,253 | $1,233 | $1,215 | 2% | 3% | [Balance Sheet & Credit Quality Overview](index=6&type=section&id=Balance%20Sheet%20%26%20Credit%20Quality%20Overview) This section details Fifth Third Bancorp's asset and liability structure, including loan and deposit trends, wholesale funding, and an in-depth analysis of credit quality metrics and capital position [Average Interest-Earning Assets](index=6&type=section&id=Average%20Interest-Earning%20Assets) Total average portfolio loans and leases remained stable sequentially at $123 billion and increased 6% YoY, with commercial loans decreasing and consumer loans increasing Average Portfolio Loans and Leases ($ in millions) | Category | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :----------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Total commercial loans and leases | $74,915 | $75,415 | $71,769 | (1)% | 4% | | Total consumer loans | $48,411 | $47,656 | $45,057 | 2% | 7% | | Total average portfolio loans and leases | $123,326 | $123,071 | $116,826 | — | 6% | * Average commercial portfolio loans and leases decreased **1% sequentially** due to declines in commercial mortgage and commercial construction loans, partially offset by increases in C&I middle market loans[17](index=17&type=chunk) * Average consumer portfolio loans increased **2% sequentially**, driven by continued strong growth in indirect secured consumer and home equity loans[17](index=17&type=chunk) [End of Period Interest-Earning Assets](index=7&type=section&id=End%20of%20Period%20Interest-Earning%20Assets) Total period-end portfolio loans and leases increased 1% sequentially to $123.13 billion and 6% YoY, with commercial loans stable and consumer loans increasing End of Period Portfolio Loans and Leases ($ in millions) | Category | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :----------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Total commercial loans and leases | $74,423 | $74,152 | $71,130 | — | 5% | | Total consumer loans | $48,707 | $48,244 | $45,538 | 1% | 7% | | Total portfolio loans and leases | $123,130 | $122,396 | $116,668 | 1% | 6% | * Period-end consumer portfolio loans increased **1% sequentially**, primarily reflecting increases in indirect secured consumer and home equity loans[21](index=21&type=chunk) * Total period-end securities decreased **4% sequentially** and **7% YoY**[22](index=22&type=chunk) [Average Deposits](index=7&type=section&id=Average%20Deposits) Total average deposits increased 1% sequentially to $165 billion, driven by money market and demand deposits, partially offset by declines in savings and interest checking Average Deposits ($ in millions) | Category | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :----------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Demand | $41,235 | $40,885 | $40,020 | 1% | 3% | | Interest checking | 56,624 | 56,738 | 58,605 | — | (3)% | | Savings | 16,376 | 16,962 | 17,272 | (3)% | (5)% | | Money market | 37,434 | 36,296 | 37,257 | 3% | — | | Total average deposits | $164,754 | $163,575 | $167,196 | 1% | (1)% | * The growth in demand deposits reflects a strategic focus on enhancing the deposit mix and represents the **second consecutive quarter of demand deposit growth**[23](index=23&type=chunk) * The period-end portfolio loan-to-core deposit ratio was **75%** in the current quarter, compared to 76% in the prior quarter and 71% in the year-ago quarter[24](index=24&type=chunk) [Average Wholesale Funding](index=8&type=section&id=Average%20Wholesale%20Funding) Total average wholesale funding decreased 3% sequentially to $22 billion and 7% YoY, primarily due to reductions in long-term debt and CDs over $250,000 Average Wholesale Funding ($ in millions) | Category | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :------------------------------------ | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | CDs over $250,000 | $2,244 | $2,200 | $3,499 | 2% | (36)% | | FHLB advances | 4,920 | 4,976 | 2,576 | (1)% | 91% | | Long-term debt | 14,001 | 14,599 | 16,716 | (4)% | (16)% | | Total average wholesale funding | $21,821 | $22,423 | $23,415 | (3)% | (7)% | * The decrease in average wholesale funding was primarily attributable to a reduction in long-term debt and CDs over $250,000, inclusive of brokered deposits[25](index=25&type=chunk) [Credit Quality Summary](index=9&type=section&id=Credit%20Quality%20Summary) Provision for credit losses totaled $197 million, with the Allowance for Credit Losses (ACL) ratio decreasing to 1.96%, while net charge-offs significantly increased due to a commercial credit impairment Credit Quality Summary ($ in millions) | Metric | September 2025 | June 2025 | September 2024 | | :------------------------------------------------- | :--------------- | :-------- | :--------------- | | Total nonaccrual portfolio loans and leases (NPLs) | $768 | $853 | $686 | | Total nonperforming portfolio loans and leases and OREO (NPAs) | $801 | $886 | $725 | | NPL ratio | 0.62% | 0.70% | 0.59% | | NPA ratio | 0.65% | 0.72% | 0.62% | | Provision for loan and lease losses | 192 | 167 | 159 | | Total net losses charged-off | $(339) | $(139) | $(142) | | Net charge-off ratio (NCO ratio) | 1.09% | 0.45% | 0.48% | | Commercial NCO ratio | 1.46% | 0.38% | 0.40% | | Consumer NCO ratio | 0.52% | 0.56% | 0.62% | | ACL as a % of portfolio loans and leases | 1.96% | 2.09% | 2.09% | | ACL as a % of nonperforming portfolio loans and leases | 314% | 300% | 356% | * Net charge-offs in Q3 2025 included **$178 million** related to the impairment of an asset-backed finance commercial credit[27](index=27&type=chunk) * Nonperforming portfolio loans and leases decreased to **$768 million (0.62% NPL ratio)** from $853 million (0.70% NPL ratio) in the prior quarter[30](index=30&type=chunk) [Capital Position](index=11&type=section&id=Capital%20Position) The CET1 capital ratio decreased 4 bps sequentially to 10.54% due to risk-weighted asset growth and capital returns, while Fifth Third repurchased $300 million of common stock and increased its quarterly common dividend Regulatory Capital Ratios (Bancorp) | Metric | September 2025 | June 2025 | September 2024 | | :-------------------- | :--------------- | :-------- | :--------------- | | CET1 capital | 10.54% | 10.58% | 10.75% | | Tier 1 risk-based capital | 11.60% | 11.85% | 12.07% | | Total risk-based capital | 13.51% | 13.77% | 14.13% | | Leverage | 9.24% | 9.42% | 9.11% | * Fifth Third repurchased **$300 million of its common stock** during the third quarter of 2025[31](index=31&type=chunk) * The quarterly cash common dividend was increased by **$0.03, or 8%, to $0.40 per share** for Q3 2025[31](index=31&type=chunk) [Other Financial Information](index=12&type=section&id=Other%20Financial%20Information) This section covers supplementary financial details such as the effective tax rate, corporate profile, forward-looking statements, and explanations of non-GAAP measures used in the report [Tax Rate](index=12&type=section&id=Tax%20Rate) The effective tax rate for Q3 2025 was 22.6%, an increase from 22.2% in the prior quarter and 21.3% in the year-ago quarter Effective Tax Rate | Period | Effective Tax Rate | | :----- | :----------------- | | 3Q25 | 22.6% | | 2Q25 | 22.2% | | 3Q24 | 21.3% | [Corporate Profile & Conference Call](index=12&type=section&id=Corporate%20Profile%20%26%20Conference%20Call) Fifth Third Bancorp, founded in 1858, is a bank recognized for innovation and ethical practices, aiming to be a high-performing and trusted regional bank * Fifth Third is a bank founded in **1858**, known for innovation and helping individuals, families, businesses, and communities grow[34](index=34&type=chunk) * The company has been named among Ethisphere's **World's Most Ethical Companies®** for several years[34](index=34&type=chunk) * A conference call to discuss financial results will be webcast live at **9:00 a.m. (Eastern Time)** via the Fifth Third Investor Relations website (www.53.com)[33](index=33&type=chunk) [Forward-Looking Statements](index=13&type=section&id=Forward-Looking%20Statements) This release contains forward-looking statements subject to various risks and uncertainties, including deteriorating credit quality, regulatory changes, economic conditions, cybersecurity risks, and potential impacts of the pending merger with Comerica Incorporated * Statements in this release are forward-looking and subject to risks and uncertainties, not statements of historical fact[37](index=37&type=chunk) * Key risk factors include deteriorating credit quality, loan concentration, problems encountered by other financial institutions, inadequate funding or liquidity, adverse government regulation, changes in interest rates, and litigation[38](index=38&type=chunk) * The company disclaims any obligation to publicly update or revise forward-looking statements, except as required by law[39](index=39&type=chunk) [Earnings Release End Notes](index=12&type=section&id=Earnings%20Release%20End%20Notes) This section provides definitions and clarifications for various financial measures and ratios used in the earnings release, including non-GAAP measures, annualized ratios, and regulatory capital calculation methods * Non-GAAP measures are used and reconciled on **page 27**[36](index=36&type=chunk) * Net losses charged-off are presented as a percent of average portfolio loans and leases on an **annualized basis**[36](index=36&type=chunk) * Regulatory capital ratios for prior periods were calculated using a five-year transition provision option for CECL effects, and current period ratios are estimated[36](index=36&type=chunk) [Quarterly Financial Review (Detailed Tables)](index=14&type=section&id=Quarterly%20Financial%20Review%20(Detailed%20Tables)) This section presents the comprehensive financial statements and detailed breakdowns of key financial data, including income statements, balance sheets, equity changes, average balances, loans, regulatory capital, credit loss experience, asset quality, non-GAAP reconciliations, and segment performance for the quarter ended September 30, 2025 [Financial Highlights](index=15&type=section&id=Financial%20Highlights) This section provides a comprehensive overview of Fifth Third Bancorp's key financial performance indicators and ratios for the three months ended September 30, 2025, and year-to-date, with comparative data for prior periods Key Financial Highlights (3Q25 vs. Prior Periods) | Metric | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :------------------------------------------------- | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Net income available to common shareholders ($M) | $608 | $591 | $532 | 3% | 14% | | Earnings per share, diluted | $0.91 | $0.88 | $0.78 | 3% | 17% | | Net interest income (FTE) ($M) | $1,525 | $1,500 | $1,427 | 2% | 7% | | Noninterest income ($M) | $781 | $750 | $711 | 4% | 10% | | Provision for credit losses ($M) | 197 | 173 | 160 | 14% | 23% | | Return on average assets | 1.21% | 1.20% | 1.06% | 1 bp | 15 bps | | Net interest margin (FTE) | 3.13% | 3.12% | 2.90% | 1 bp | 23 bps | | Efficiency (FTE) | 54.9% | 56.2% | 58.2% | (130) bps | (330) bps | | Net losses charged-off as a percent of average portfolio loans and leases (annualized) | 1.09% | 0.45% | 0.48% | 64 bps | 61 bps | | CET1 capital | 10.54% | 10.58% | 10.75% | (4) bps | (21) bps | | Assets under management ($B) | $77 | $73 | $69 | 5% | 12% | [Consolidated Statements of Income](index=17&type=section&id=Consolidated%20Statements%20of%20Income) This section presents the detailed consolidated statements of income for Fifth Third Bancorp, showing interest income, interest expense, net interest income, provision for credit losses, noninterest income, noninterest expense, income before income taxes, and net income available to common shareholders for the three months ended September 30, 2025, and comparative periods Consolidated Statements of Income ($ in millions) | Metric | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :------------------------------------ | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Total interest income | $2,519 | $2,484 | $2,669 | 1% | (6)% | | Total interest expense | 999 | 989 | 1,248 | 1% | (20)% | | Net Interest Income | 1,520 | 1,495 | 1,421 | 2% | 7% | | Provision for credit losses | 197 | 173 | 160 | 14% | 23% | | Total noninterest income | 781 | 750 | 711 | 4% | 10% | | Total noninterest expense | 1,267 | 1,264 | 1,244 | — | 2% | | Income Before Income Taxes | 837 | 808 | 728 | 4% | 15% | | Net Income Available to Common Shareholders | $608 | $591 | $532 | 3% | 14% | [Consolidated Balance Sheets](index=21&type=section&id=Consolidated%20Balance%20Sheets) This section provides a detailed breakdown of Fifth Third Bancorp's assets, liabilities, and equity as of September 30, 2025, and comparative prior periods, highlighting a 1% sequential increase in total assets and total deposits, and stable total equity Consolidated Balance Sheets ($ in millions) | Metric | September 2025 | June 2025 | September 2024 | Seq Change (%) | Yr/Yr Change (%) | | :------------------------------------ | :--------------- | :-------- | :--------------- | :------------- | :--------------- | | Total Assets | $212,903 | $209,991 | $214,318 | 1% | (1)% | | Other short-term investments | 17,215 | 13,043 | 21,729 | 32% | (21)% | | Portfolio loans and leases, net | 120,865 | 119,984 | 114,363 | 1% | 6% | | Total deposits | 166,569 | 164,207 | 168,340 | 1% | (1)% | | Total Liabilities | 191,796 | 188,867 | 193,534 | 2% | (1)% | | Total Equity | 21,107 | 21,124 | 20,784 | — | 2% | [Consolidated Statements of Changes in Equity](index=20&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Equity) This statement details the changes in Fifth Third Bancorp's total equity for the three months and year-to-date periods ended September 30, 2025, compared to the prior year, showing the impact of net income, other comprehensive income, cash dividends, stock transactions, share repurchases, and preferred stock redemption Consolidated Statements of Changes in Equity ($ in millions) | Item | For the Three Months Ended September 2025 | | :------------------------------------------------- | :---------------------------------------- | | Total Equity, Beginning | $21,124 | | Net income | 649 | | Other comprehensive income, net of tax | 270 | | Comprehensive income | 919 | | Cash dividends declared: Common stock | (269) | | Cash dividends declared: Preferred stock | (37) | | Shares acquired for treasury | (303) | | Redemption of preferred stock | (350) | | Total Equity, Ending | $21,107 | [Average Balance Sheets and Yield/Rate Analysis](index=27&type=section&id=Average%20Balance%20Sheets%20and%20Yield%2FRate%20Analysis) This section provides average balance sheet data and a detailed yield/rate analysis for interest-earning assets and interest-bearing liabilities for the three months ended September 30, 2025, and comparative periods Average Balance Sheets and Yield/Rate Analysis (3Q25) | Metric | Average Balance ($M) | Average Yield/Rate | | :------------------------------------ | :------------------- | :----------------- | | Total interest-earning assets | $193,500 | 5.18% | | Total interest-bearing liabilities | $143,096 | 2.77% | | Net interest margin (FTE) | | 3.13% | | Net interest rate spread (FTE) | | 2.41% | * The yield on total loans and leases was **6.12%** for Q3 2025, stable sequentially[54](index=54&type=chunk) * The rate paid on total interest-bearing deposits was **2.41%** for Q3 2025, up 2 bps sequentially[54](index=54&type=chunk) [Summary of Loans and Leases](index=30&type=section&id=Summary%20of%20Loans%20and%20Leases) This section details the average and end-of-period portfolio loans and leases, categorized by commercial and consumer segments, for the current and prior quarters, also including loans and leases held for sale and loans serviced for others Average Portfolio Loans and Leases ($ in millions) | Category | September 2025 | June 2025 | September 2024 | | :----------------------------- | :--------------- | :-------- | :--------------- | | Total commercial loans and leases | $74,915 | $75,415 | $71,769 | | Total consumer loans | $48,411 | $47,656 | $45,057 | | Total average portfolio loans and leases | $123,326 | $123,071 | $116,826 | End of Period Portfolio Loans and Leases ($ in millions) | Category | September 2025 | June 2025 | September 2024 | | :----------------------------- | :--------------- | :-------- | :--------------- | | Total commercial loans and leases | $74,423 | $74,152 | $71,130 | | Total consumer loans | $48,707 | $48,244 | $45,538 | | Total portfolio loans and leases | $123,130 | $122,396 | $116,668 | * Total loans and leases serviced for others amounted to **$93,261 million** in Q3 2025[59](index=59&type=chunk) [Regulatory Capital](index=31&type=section&id=Regulatory%20Capital) This section provides detailed regulatory capital figures and ratios for Fifth Third Bancorp and Fifth Third Bank, National Association, as of September 30, 2025, and prior periods Regulatory Capital (Bancorp, $ in millions) | Metric | September 2025 | June 2025 | September 2024 | | :-------------------- | :--------------- | :-------- | :--------------- | | CET1 capital | $17,646 | $17,616 | $17,272 | | Additional tier 1 capital | 1,770 | 2,116 | 2,116 | | Tier 1 capital | 19,416 | 19,732 | 19,388 | | Total regulatory capital | $22,625 | $22,929 | $22,691 | | Risk-weighted assets | $167,415 | $166,517 | $160,604 | Regulatory Capital Ratios (Bancorp) | Metric | September 2025 | June 2025 | September 2024 | | :-------------------- | :--------------- | :-------- | :--------------- | | CET1 capital | 10.54% | 10.58% | 10.75% | | Tier 1 risk-based capital | 11.60% | 11.85% | 12.07% | | Total risk-based capital | 13.51% | 13.77% | 14.13% | | Leverage | 9.24% | 9.42% | 9.11% | * Fifth Third Bank, National Association maintained strong capital ratios with **Tier 1 risk-based capital at 12.92%** and **Leverage at 10.30%** in Q3 2025[60](index=60&type=chunk) [Summary of Credit Loss Experience](index=32&type=section&id=Summary%20of%20Credit%20Loss%20Experience) This section details the credit loss experience, including average portfolio loans and leases, total losses charged-off, recoveries, and net losses charged-off, broken down by commercial and consumer loan categories for the current and prior quarters Net Losses Charged-Off ($ in millions) | Category | September 2025 | June 2025 | September 2024 | | :----------------------------- | :--------------- | :-------- | :--------------- | | Total commercial loans and leases | $(275) | $(71) | $(72) | | Total consumer loans | $(64) | $(68) | $(70) | | Total net losses charged-off | $(339) | $(139) | $(142) | Net Losses Charged-Off as a Percent of Average Portfolio Loans and Leases (Annualized) | Category | September 2025 | June 2025 | September 2024 | | :------------------------------------------------- | :--------------- | :-------- | :--------------- | | Total commercial loans and leases | 1.46% | 0.38% | 0.40% | | Total consumer loans | 0.52% | 0.56% | 0.62% | | Total net losses charged-off as a percent of average portfolio loans and leases (annualized) | 1.09% | 0.45% | 0.48% | * Commercial and industrial loans experienced a significant increase in net charge-off ratio to **2.01%** in Q3 2025 from 0.51% in Q2 2025[63](index=63&type=chunk) [Asset Quality](index=34&type=section&id=Asset%20Quality) This section provides a detailed breakdown of the Allowance for Credit Losses (ACL), nonperforming assets, and delinquent loans, showing the ending balance of ALLL at $2,265 million and total nonperforming assets at $805 million for Q3 2025 Allowance for Credit Losses ($ in millions) | Metric | September 2025 | June 2025 | September 2024 | | :------------------------------------ | :--------------- | :-------- | :--------------- | | Allowance for loan and lease losses, ending | $2,265 | $2,412 | $2,305 | | Reserve for unfunded commitments, ending | $151 | $146 | $138 | | Total allowance for credit losses | $2,416 | $2,558 | $2,443 | Nonperforming Assets and Delinquent Loans ($ in millions) | Metric | September 2025 | June 2025 | September 2024 | | :------------------------------------------------- | :--------------- | :-------- | :--------------- | | Total nonaccrual portfolio loans and leases | $768 | $853 | $686 | | Total nonperforming portfolio loans and leases and OREO | $801 | $886 | $725 | | Total nonperforming assets | $805 | $913 | $733 | | Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO | 0.65% | 0.72% | 0.62% | * The ACL as a percent of nonperforming portfolio loans and leases increased to **314%** in Q3 2025 from 300% in Q2 2025[64](index=64&type=chunk) [Non-GAAP Reconciliation](index=36&type=section&id=Non-GAAP%20Reconciliation) This section provides reconciliations of various non-GAAP financial measures to their most directly comparable GAAP measures, explaining why management uses these non-GAAP measures for evaluating performance and capital adequacy * Management uses non-GAAP measures like FTE net interest income, tangible common equity, and adjusted efficiency ratio to evaluate operating performance and capital adequacy, believing they provide useful information to investors[66](index=66&type=chunk)[68](index=68&type=chunk)[69](index=69&type=chunk) * The FTE basis adjusts for the tax-favored status of income from certain loans and securities, providing a relevant comparison between taxable and non-taxable amounts[67](index=67&type=chunk) Key Non-GAAP Metrics (3Q25 vs. Prior Periods) | Metric | September 2025 | June 2025 | September 2024 | | :------------------------------------------------- | :--------------- | :-------- | :--------------- | | Net interest income (FTE) ($M) | $1,525 | $1,500 | $1,427 | | Tangible net income available to common shareholders ($M) | 613 | 596 | 539 | | Tangible book value per share (including AOCI) | $21.66 | $20.98 | $20.20 | | Tangible book value per share (excluding AOCI) | $26.61 | $26.29 | $25.29 | | Adjusted efficiency ratio | 54.1% | 55.2% | 55.9% | | Adjusted pre-provision net revenue (PPNR) ($M) | $1,061 | $1,002 | $960 | [Segment Presentation](index=39&type=section&id=Segment%20Presentation) This section presents the financial performance by business segment: Commercial Banking, Consumer and Small Business Banking, Wealth and Asset Management, and General Corporate and Other, showing the contribution of each segment to net interest income (FTE), provision for credit losses, noninterest income, noninterest expense, and income (loss) before income taxes (FTE) for the current and prior quarters Income (Loss) Before Income Taxes (FTE) by Segment ($ in millions) | Segment | September 2025 | June 2025 | September 2024 | | :------------------------------------ | :--------------- | :-------- | :--------------- | | Commercial Banking | $251 | $384 | $466 | | Consumer and Small Business Banking | $665 | $648 | $647 | | Wealth and Asset Management | $71 | $65 | $54 | | General Corporate and Other | $(145) | $(284) | $(433) | | Total | $842 | $813 | $734 | * During Q1 2025, the Bancorp realigned its reporting structure, moving certain business banking customer relationships and personnel to the Consumer and Small Business Banking segment from Commercial Banking, with prior period results adjusted[77](index=77&type=chunk) * Consumer and Small Business Banking showed consistent growth in income before income taxes (FTE) across the periods presented[76](index=76&type=chunk)

Financial Performance - For the second quarter of 2025, net interest income was $1,495 million, an 8% increase from $1,387 million in the same quarter of 2024[28]. - Noninterest income for the second quarter of 2025 was $750 million, up 8% from $695 million in the second quarter of 2024[28]. - Net income available to common shareholders for the second quarter of 2025 was $591 million, or $0.88 per diluted share, a 5% increase from $561 million, or $0.81 per diluted share, in the second quarter of 2024[30]. - The efficiency ratio for the second quarter of 2025 was 56.2%, reflecting a slight improvement from 56.5% in the same quarter of 2024[28]. - Noninterest income increased by $55 million and $38 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024[67]. - Total noninterest income for the six months ended June 30, 2025, was $1,444 million, reflecting a 3% increase from $1,406 million in 2024[68]. Credit Losses and Provisions - The provision for credit losses increased by 78% to $173 million in the second quarter of 2025, compared to $97 million in the same quarter of 2024[28]. - The provision for credit losses was $173 million and $347 million for the three and six months ended June 30, 2025, respectively, compared to $97 million and $191 million during the same periods in the prior year[32]. - The allowance for loan and lease losses (ALLL) increased by $60 million to $2.4 billion at June 30, 2025, with the ALLL as a percentage of portfolio loans and leases at 1.97%[65]. - Provision for credit losses increased by $14 million for both the three and six months ended June 30, 2025, primarily due to increases in net charge-offs on average commercial and industrial loans, with annualized net charge-offs rising to 64 bps and 67 bps for the respective periods[156]. Capital and Ratios - The CET1 Capital Ratio was reported at 10.5%, indicating strong capital adequacy under Basel III standards[27]. - CET1 capital ratio was 10.58%, Tier 1 risk-based capital ratio was 11.85%, and total risk-based capital ratio was 13.77% as of June 30, 2025[37]. - The Bancorp authorized a share repurchase of up to 100 million shares, superseding the previous authorization from June 2019[19]. Loans and Leases - Total loans and leases increased to $123.657 billion for the three months ended June 30, 2025, with a net interest income (FTE) of $1.500 billion[57]. - Average loans and leases increased by $6.4 billion, or 5%, to $123.657 billion for the three months ended June 30, 2025, compared to the same period in the prior year[99]. - Commercial and industrial loans increased by $1.1 billion, or 2%, from December 31, 2024, due to loan originations exceeding payoffs[95]. - Indirect secured consumer loans rose by $1.3 billion, or 8%, from December 31, 2024, driven by higher loan production[96]. Interest Income and Expenses - Interest income from loans and leases increased by $9 million during the three months ended June 30, 2025, primarily due to higher average balances and yields on consumer loans[52]. - Interest expense on average core deposits decreased by $187 million for the three months ended June 30, 2025, with the cost of average interest-bearing core deposits dropping to 236 bps from 295 bps in the prior year[54]. - Interest expense on average wholesale funding decreased by $57 million for the three months ended June 30, 2025, primarily due to lower rates paid on average wholesale funding[55]. Deposits and Borrowings - Total deposits as of June 30, 2025, were $164.207 billion, a decrease of $3.045 billion, or 2%, from $167.252 billion as of December 31, 2024[124]. - Core deposits decreased by $3.1 billion, or 2%, primarily due to a decrease in transaction deposits, which fell by $3.2 billion, or 2%[125]. - Total borrowings decreased by $928 million, or 5%, from December 31, 2024, primarily due to a decrease in other short-term borrowings[133]. Investment Securities - Total investment securities decreased from $52.4 billion at December 31, 2024, to $51.6 billion at June 30, 2025[103]. - The Bancorp transferred $12.6 billion of investment securities from available-for-sale to held-to-maturity to reduce capital volatility associated with market price fluctuations[110]. - Total net unrealized losses on the available-for-sale debt and other securities portfolio were $3.5 billion at June 30, 2025, down from $4.3 billion at December 31, 2024[117]. Tax and Legislative Changes - Recent legislative changes may impact the Bancorp's effective tax rate and are being evaluated for their financial implications[24]. - The effective tax rate increased to 22.2% for the three months ended June 30, 2025, compared to 21.3% for the same period in the prior year, primarily due to an increase in state tax expense[92]. Risk Management - The Bancorp's credit risk management strategy emphasizes diversification across geographic, industry, product, and customer levels, with specific concentration limits established for commercial loans[184]. - The Bancorp utilizes a dual risk rating system with thirteen categories for estimating probabilities of default and eleven categories for estimating losses given default[179]. - The expected credit loss models for the commercial portfolio segment are primarily based on macroeconomic conditions and historical default rates, with collateral type and coverage levels influencing loss severity estimates[181].

Fifth Third Bancorp Reports Second Quarter 2025 Diluted Earnings Per Share of $0.88 Accelerating revenue growth led by continued loan growth and net interest margin expansion Reported results included a negative $0.02 impact from certain items on page 2 | Key Financial Data | | | Key Highlights | | | --- | --- | --- | --- | --- | | $ in millions for all balance sheet and income statement items | | | | | | | 2Q25 | 1Q25 | 2Q24 | Stability: | | Income Statement Data | | | | | | Net income available to common ...

Financial Performance - For the three months ended March 31, 2025, net interest income on an FTE basis was $1.442 billion, a 4% increase from $1.390 billion in the same period of 2024[26]. - Noninterest income decreased by $16 million to $694 million for the three months ended March 31, 2025, primarily due to a $19 million decrease in net securities gains/losses[31]. - Net income available to common shareholders for Q1 2025 was $478 million, or $0.71 per diluted share, compared to $480 million, or $0.70 per diluted share, for Q1 2024[28]. - The efficiency ratio for the Bancorp was 60.9% for the three months ended March 31, 2025, compared to 63.9% for the same period in 2024[26]. - The Bancorp's return on average tangible common equity was 15.2% for the three months ended March 31, 2025, compared to 17.0% for the same period in 2024[38]. - Income before income taxes (FTE) was $658 million for the three months ended March 31, 2025, compared to $664 million for the same period in the prior year[130]. - Income before income taxes for the Consumer and Small Business Banking segment was $522 million for the three months ended March 31, 2025, down from $685 million in the prior year, mainly due to a decrease in net interest income[143]. Credit Losses and Provisions - The provision for credit losses increased to $174 million for the three months ended March 31, 2025, compared to $94 million in the same period of 2024, reflecting higher loan and lease balances[30]. - The provision for credit losses increased to $174 million for Q1 2025, up from $94 million in Q1 2024, reflecting higher loan balances and economic forecast deterioration[56]. - The allowance for loan and lease losses (ALLL) rose by $32 million to $2.4 billion as of March 31, 2025, with the ALLL as a percentage of portfolio loans and leases decreasing slightly to 1.95%[57]. - The provision for credit losses was $10 million for the three months ended March 31, 2025, compared to a benefit from credit losses of $61 million for the same period in the prior year[155]. Interest Income and Expenses - Net interest margin on an FTE basis was 3.03% for the three months ended March 31, 2025, compared to 2.86% for the same period in 2024[29]. - The net interest rate spread on an FTE basis was 2.33% for the three months ended March 31, 2025, compared to 2.02% for the same period in the prior year[45]. - Interest income on an FTE basis from loans and leases decreased by $44 million during the three months ended March 31, 2025, primarily due to lower yields on average commercial loans[47]. - Interest expense on average core deposits decreased by $165 million for the three months ended March 31, 2025, with the cost of average interest-bearing core deposits dropping to 239 bps from 291 bps year-over-year[48]. - Net interest income (FTE) decreased by $111 million for the three months ended March 31, 2025, primarily driven by a decrease in FTP credits on deposits[134]. - Net interest income decreased by $177 million for the three months ended March 31, 2025, primarily due to a decrease in FTP credits on deposits[144]. Asset and Liability Management - The Bancorp's total assets were $213 billion as of March 31, 2025, with operations in 11 states[13]. - Total loans and leases reached $121.8 billion in Q1 2025, with a net interest income of $1.44 billion, reflecting a net interest margin of 3.03%[52]. - Total deposits decreased to $165.505 billion as of March 31, 2025, from $167.252 billion as of December 31, 2024[111]. - The total core deposits decreased to $163.611 billion as of March 31, 2025, from $164.894 billion as of December 31, 2024[111]. - Total borrowings increased by $1.2 billion, or 6%, from December 31, 2024, primarily due to increases in other short-term borrowings and long-term debt[123]. Noninterest Income - Total noninterest income decreased by $16 million to $694 million in Q1 2025 compared to Q1 2024, primarily due to a decline in capital markets fees and commercial banking revenue[59]. - Noninterest income decreased by $24 million for the three months ended March 31, 2025, compared to the same period in the prior year, primarily due to decreases in capital markets fees and commercial banking revenue[136]. - Noninterest income increased by $14 million for the three months ended March 31, 2025, primarily driven by an increase in wealth and asset management revenue[145]. Loan and Lease Performance - Average loans and leases increased by $4.1 billion, or 3%, for the three months ended March 31, 2025, compared to the same period in the prior year[89]. - Commercial loans and leases increased by $1.8 billion, or 2%, from December 31, 2024, primarily due to increases in commercial and industrial loans[86]. - Average commercial loans and leases increased by $917 million for the three months ended March 31, 2025, driven by increases in average commercial mortgage loans and average commercial leases[139]. - The Bancorp's total outstanding commercial loans and leases amounted to $75.137 billion, with an exposure of $138.099 billion and 623 nonaccrual loans[171]. Nonperforming Assets - Nonperforming assets increased to $1.0 billion at March 31, 2025, compared to $860 million at December 31, 2024[208]. - Nonperforming portfolio assets as a percentage of total portfolio loans and leases were 0.81% at March 31, 2025, up from 0.71% at December 31, 2024[209]. - Portfolio commercial nonaccrual loans and leases rose to $623 million at March 31, 2025, an increase of $167 million from December 31, 2024[210]. Capital and Equity - As of March 31, 2025, the Bancorp's CET1 capital ratio was 10.43%, Tier 1 risk-based capital ratio was 11.71%, total risk-based capital ratio was 13.63%, and leverage ratio was 9.23%[34]. - Total Bancorp shareholders' equity under U.S. GAAP was $20.403 billion as of March 31, 2025, compared to $19.645 billion as of December 31, 2024[39]. - The total equity increased to $20 billion as of March 31, 2025, compared to $18.7 billion a year earlier[52]. Consumer and Residential Loans - Residential mortgage loan originations increased to $1.4 billion in Q1 2025 from $1.1 billion in Q1 2024, attributed to larger average loan sizes and higher correspondent channel volume[65]. - The residential mortgage portfolio's total outstanding loans amount to $17.6 billion, with a weighted average LTV of 73.7% as of March 31, 2025[185]. - The Bancorp's home equity portfolio totals $4.3 billion, with 19% of outstanding balances having a balloon structure at maturity, and approximately $539 million maturing before December 31, 2028[188]. - The Bancorp's residential mortgage loans with LTV greater than 80% and no mortgage insurance have shown immaterial net charge-offs for both the three months ended March 31, 2025 and 2024[187]. Investment Securities - Investment securities totaled $52.6 billion as of March 31, 2025, compared to $52.4 billion as of December 31, 2024[92]. - The total available-for-sale debt and other securities amounted to $43.445 billion as of March 31, 2025, a decrease from $43.878 billion as of December 31, 2024[96]. - The Bancorp transferred $12.6 billion of investment securities from available-for-sale to held-to-maturity in January 2024 to reduce capital volatility[98]. - Total net unrealized losses on the available-for-sale debt and other securities portfolio were $3.7 billion at March 31, 2025, down from $4.3 billion at December 31, 2024[104].

Financial Performance - Fifth Third Bancorp reported net income available to common shareholders of $478 million, or $0.71 per diluted share, a decrease of 18% from the prior quarter and stable compared to the year-ago quarter[6]. - Net interest income (NII) was $1,442 million, reflecting a 4% increase year-over-year, while the net interest margin (NIM) expanded to 3.03%, up 17 basis points from the previous year[7][8]. - Noninterest income decreased by $38 million, or 5%, from the prior quarter, totaling $694 million, with notable declines in capital markets fees and commercial banking revenue[9][10]. - Noninterest expense increased by $78 million, or 6%, from the prior quarter, totaling $1,304 million, but decreased by 3% year-over-year[13][14]. - The return on average common equity was 10.8%, down from 13.0% in the previous quarter, while the efficiency ratio improved to 61.0%, reflecting continued expense discipline[1][6]. - Net income available to common shareholders fell by 18% to $478 million, with diluted earnings per share at $0.71, a decrease of 16%[42]. - Total revenue (FTE) for Q1 2025 was $2,136 million, a decrease of 1.8% sequentially and an increase of 0.8% year-over-year[48]. - Income before income taxes (FTE) for Q1 2025 was $658 million, a decrease from $770 million in Q4 2024, showing a decline in profitability[72]. Loan and Lease Growth - The average portfolio loans and leases increased to $121,272 million, up 3% sequentially and year-over-year, driven by growth in both commercial and consumer lending[1]. - Total average portfolio loans and leases increased 3% year-over-year, with commercial loans and leases up 3% and consumer loans up 5%[17]. - Period-end commercial portfolio loans and leases reached $75 billion, a 3% increase from the prior quarter and a 4% increase year-over-year[19]. - Period-end consumer portfolio loans totaled $47 billion, increasing 1% from the prior quarter and 6% year-over-year[20]. - Average loans and leases increased by 3% to $121,764 million compared to the previous quarter[42]. - Total loans and leases increased to $121.764 billion in March 2025, up from $118.492 billion in December 2024, representing a growth of 1.92%[53]. Credit Quality and Loss Provisions - The provision for credit losses totaled $174 million in the current quarter, with an allowance for credit losses (ACL) ratio of 2.07% of total portfolio loans and leases[26]. - Net charge-offs were $136 million in the current quarter, resulting in a net charge-off (NCO) ratio of 0.46%[27]. - Nonperforming portfolio loans and leases increased to $966 million, with an NPL ratio of 0.79%[29]. - Provision for credit losses increased by 85% year-over-year to $174 million, compared to $94 million in Q1 2024[42]. - Nonperforming assets totaled $1,017 million in March 2025, an increase from $860 million in December 2024, indicating a rise in credit quality concerns[60]. - The ratio of allowance for credit losses to portfolio loans and leases was 2.07% in March 2025, slightly down from 2.08% in December 2024[60]. Capital and Equity - CET1 capital ratio decreased by 12 basis points to 10.45% due to loan growth increasing risk-weighted assets[31]. - Average total Bancorp shareholders' equity as a percentage of average assets increased to 9.50% from 9.40% in the previous quarter[31]. - Total risk-based capital ratio stood at 13.66%, down from 13.86% in the previous quarter[31]. - Total equity increased to $20.403 billion in March 2025 from $19.645 billion in December 2024, reflecting a comprehensive income of $1.256 billion[52]. - The Tier 1 risk-based capital ratio was 11.73% as of March 2025, down from 11.86% in December 2024[56]. Shareholder Actions - The company executed $225 million in share repurchases during the quarter, contributing to a 5% increase in tangible book value per share over the past year[3]. - Fifth Third repurchased $225 million of its common stock, reducing shares outstanding by approximately 5.2 million[31]. - Book value per share increased by 5% to $27.41, while market value per share decreased by 7% to $39.20[42]. Strategic Focus - Fifth Third Bancorp plans to continue focusing on stability, profitability, and growth as its operating principles amid economic uncertainty[4]. - Fifth Third aims to be the highest performing regional bank in the U.S. while maintaining a commitment to ethical practices[34]. - The company has been recognized among Ethisphere's World's Most Ethical Companies® for several years[34].