https://files.reportify.cc/media/produc Fifth Third Bancorp Reports Fourth Quarter 2025 Diluted Earnings Per Share of $1.04 Strong returns supported by continued business momentum and improved credit trends Reported results included a net negative $0.04 impact from certain items on page 2 | Key Financial Data | | | Key Highlights | | | --- | --- | --- | --- | --- | | $ in millions for all balance sheet and income statement items | | | | | | | 4Q25 | 3Q25 | 4Q24 | Stability: | | Income Statement Data | | | | ...

Fifth Third Bancorp Reports Fourth Quarter 2025 Diluted Earnings Per Share of $1.04 Strong returns supported by continued business momentum and improved credit trends Reported results included a net negative $0.04 impact from certain items on page 2 | Key Financial Data | | | Key Highlights | | | --- | --- | --- | --- | --- | | $ in millions for all balance sheet and income statement items | | | | | | | 4Q25 | 3Q25 | 4Q24 | Stability: | | Income Statement Data | | | | (b) • Net charge-offs of 40 bps in 4Q25 ...

Financial Performance - Fourth quarter 2025 net income available to common shareholders was $699 million, or $1.04 per diluted share, representing a 15% increase from the prior quarter and a 20% increase year-over-year[5]. - Net interest income (NII) for the fourth quarter 2025 was $1.533 billion, a 1% increase sequentially and a 6% increase year-over-year[7]. - Noninterest income reached $811 million in the fourth quarter 2025, up 4% from the previous quarter and 11% from the same quarter last year[9]. - Total revenue (FTE) was $2,344 million, up 2% sequentially and 8% year-over-year[42]. - Net income for Q4 2025 reached $731 million, representing a 13% increase sequentially and an 18% increase year-over-year[48]. - Net income available to common shareholders increased to $699 million, a 15% sequential increase and a 20% year-over-year increase[48]. - Total revenue (FTE) for December 2025 reached $2,344 million, up from $2,175 million in December 2024, indicating a year-over-year growth of 7.8%[75]. Asset Management - Assets under management increased 16% year-over-year to $80 billion, contributing to record quarterly revenue in the Wealth & Asset Management business[3]. - The bank's assets under care increased to $690 billion, a 1% sequential increase and a 9% year-over-year increase[43]. - Assets under management grew to $80 billion, representing a 4% sequential increase and a 16% year-over-year increase[43]. Loan and Deposit Growth - Total average portfolio loans and leases remained stable at $123 billion compared to the prior quarter, with average consumer portfolio loans increasing 1% to $49 billion, driven by growth in home equity and indirect secured consumer loans[16]. - Total average deposits increased 2% to $168 billion compared to the prior quarter, primarily due to growth in interest checking, money market, and demand deposits[22]. - Period-end total deposits increased 3% to $172 billion, reflecting a strategic focus on enhancing the deposit mix[22]. - Total average commercial loans and leases increased 4% to $74.6 billion year-over-year, reflecting growth in commercial and industrial loans and commercial mortgage loans[17]. Credit Quality - The net charge-off ratio improved to 0.40% in the fourth quarter 2025, down from 1.09% in the previous quarter[1]. - Net charge-offs totaled $125 million, down $214 million from the prior quarter, resulting in a net charge-off ratio of 0.40%, a decrease of 69 basis points[28]. - The allowance for credit losses (ACL) was $2.41 billion, representing 1.96% of total portfolio loans and leases, consistent with the prior quarter[31]. - Total nonperforming portfolio loans and leases (NPLs) decreased to $767 million, with an NPL ratio of 0.62%, unchanged from the prior quarter[30]. Efficiency and Expenses - The efficiency ratio improved to 54.3%, an enhancement of 50 basis points year-over-year[1]. - Noninterest expense excluding certain items and non-qualified deferred compensation increased 2% to $1.273 billion compared to the prior quarter, driven by increases in technology and communications and card processing expenses[14]. - Year-over-year, noninterest expense excluding certain items and non-qualified deferred compensation rose by $48 million, or 4%, primarily due to higher compensation and benefits, technology and communications, and marketing expenses[15]. - Total noninterest expense was $1,309 million, up 3% sequentially and 7% year-over-year[48]. Capital and Shareholder Returns - The CET1 capital ratio increased by 20 basis points to 10.77%, reflecting strong earnings that bolstered retained capital[31]. - The dividend payout ratio was 38.1%, down from 44.0% in the previous quarter, indicating a potential for increased shareholder returns[46]. - Total equity increased to $21,724 million in December 2025, up from $19,645 million in December 2024, reflecting a growth of 10.98% year-over-year[54]. Future Outlook - The company expects to close the acquisition of Comerica on February 1, 2026, with anticipated financial synergies[4]. - Fifth Third will host a conference call to discuss these financial results, accessible through the Fifth Third Investor Relations website[33].

revenue and the efficiency ratio are provided on an FTE basis. From Tim Spence, Fifth Third Chairman, CEO and President: Fifth Third delivered strong operating results in the fourth quarter and for the full year. In 2025, we produced record NII, generated profitable relationship growth and diligently managed our expenses, generating 230 bps of positive operating leverage. Our strong profitability allowed us to return $1.6 billion of capital to our shareholders while maintaining strong capital ratios and inc ...

Financial Projections - Bakkt's estimated gross digital asset revenues for Q4 2025 are projected to be between $298 million and $300 million[8] - Total digital asset costs and execution, clearing, and brokerage fees for Q4 2025 are estimated to be in the range of $297 million to $299 million[8] - Estimated available cash, cash equivalents, and restricted cash at December 31, 2025, are projected to be between $26 million and $28 million[8] - Net cash used in operating activities for Q4 2025 is estimated to be between $19 million and $21 million, including a customer deposit return of approximately $6.3 million[8] - Net cash used in investing activities for Q4 2025 is estimated to be between $12 million and $14 million, with significant cash outflows related to the sale of the Loyalty Business[8] Corporate Events - Bakkt plans to host an Investor Day on March 17, 2026, to discuss its financial results in detail[8] Legal Matters - The company has filed a complaint against the purchaser of its Loyalty Business for breach of contract regarding the return of approximately $5 million[10] Investments and Acquisitions - Bakkt has invested approximately $10 million in warrants for Transchem Ltd., with potential plans for further acquisitions in India[11] - The acquisition of Distributed Research Technologies is expected to enhance Bakkt's infrastructure and growth strategy[15] Risks and Compliance - Bakkt's future capital requirements and cash sources are subject to various risks, including regulatory changes and market volatility[15] - The company has made forward-looking statements based on information available as of the report date, with no obligation to update these statements[17] - The report is signed by Marc D'Annunzio, General Counsel and Secretary, indicating official acknowledgment of the contents[20] - The filing complies with the Securities Exchange Act of 1934, ensuring regulatory adherence[19]

Financial Performance - The company reported a net loss of $1,000,714 for the six months ended September 30, 2025, compared to a net loss of $2,936,434 for the same period in 2024, indicating an improvement of approximately 65.98%[4] - Total comprehensive loss for the six months ended September 30, 2025, was $897,031, down from $2,741,410 in 2024[133] - The Company reported a loss before income taxes of $1,000,714 for the six months ended September 30, 2025, compared to a loss of $2,717,583 for the same period in 2024[111] - Share of profit in subsidiaries for the six months ended September 30, 2025, was a loss of $151,728, compared to a loss of $2,086,395 in 2024[132] Assets and Liabilities - As of September 30, 2025, total assets decreased to $14,947,654 from $15,257,761 as of March 31, 2025, reflecting a decline of approximately 2.03%[2] - Total current liabilities increased to $2,098,710 as of September 30, 2025, from $1,511,786 as of March 31, 2025, representing a rise of approximately 38.73%[2] - The accumulated deficit increased to $5,233,002 as of September 30, 2025, compared to $4,232,288 as of March 31, 2025, reflecting a deterioration of approximately 23.63%[6] - Total liabilities increased to $1,539,415 as of September 30, 2025, from $904,512 as of March 31, 2025[131] Cash Flow - Net cash used in operating activities for the six months ended September 30, 2025, was $544,922, an increase from $236,355 in 2024[134] - Net cash provided by financing activities for the six months ended September 30, 2025, was $400,000, compared to $100,115 in 2024[134] - The company had cash and cash equivalents of $567,533 as of September 30, 2025, down from $1,217,968 as of March 31, 2025, a decrease of approximately 53.38%[2] Operating Expenses - Operating expenses for the six months ended September 30, 2025, totaled $1,242,818, compared to $922,991 for the same period in 2024, an increase of approximately 34.69%[4] - Total selling and general administrative expenses for the six months ended September 30, 2025, were $1,242,818, significantly higher than $922,991 for the same period in 2024[102] - The Company recorded employee benefit expenses of $42,023 for the six months ended September 30, 2025, compared to $34,867 for the same period in 2024, representing an increase of approximately 20%[42] Revenue Recognition - The Company recognizes revenue from technology services, including software development and cloud services, proportionally over the service period[36] - Revenue from software system sales is recognized upon customer acceptance, indicating a performance obligation is fulfilled at that point[37] - The Group's revenue recognition follows ASC 606, ensuring that revenue is recorded when control of promised goods is obtained by the customer[35] Investments and Capital Structure - The company issued 1,000,000 preferred shares as of September 30, 2025, with a par value of $0.0002 per share, reflecting a new capital structure[6] - The company has a 100% ownership in Easy Skills Technology Limited and Skillful Craftsman Network Technology (Wuxi) Co., Ltd., indicating full control over these subsidiaries[14] - The Group applies the equity method for long-term investments in privately held companies, reflecting significant influence without majority ownership[22] - Long-term investments increased to $14,187,730 as of September 30, 2025, from $13,159,074 as of March 31, 2025, reflecting a share gain of $888,398 and foreign currency translation adjustments of $140,258[83] Taxation - The effective tax rate for the six months ended September 30, 2025 was impacted by a benefit for income taxes at the statutory tax rate of 25%, amounting to $250,179[111] - The Group's PRC subsidiaries are subject to a statutory income tax rate of 25% as per the EIT Law effective since January 1, 2008[107] - The Company has no significant unrecognized uncertain tax positions as of September 30, 2025, and March 31, 2025[48] Going Concern - The Group's financial statements are prepared on a going concern basis, dependent on financial support from shareholders and the ability to obtain necessary equity financing[75] - The Company reported negative operating cash flows of $1,011,462 as of September 30, 2025, raising substantial doubt regarding its ability to continue as a going concern[75] Discontinued Operations - The Group's revenue from discontinued operations for the period from April 1, 2025, to September 30, 2025, was $0, compared to $119,018 for the same period in 2024[78] - Revenue from discontinued operations was $119,018 for the six months ended September 30, 2024, with no revenue reported for the same period in 2025[100] - The net loss from discontinued operations for the period from April 1, 2024, to September 30, 2024, was $(218,851)[78]

Revenue and Customer Contributions - For the fiscal year ended September 30, 2025, Customer B accounted for 32.67% of the company's revenue, generating HK$34.93 million (US$4.49 million) and had accounts receivable of HK$5.25 million (US$0.67 million) [235] - For the fiscal year ended September 30, 2024, Customer D contributed 28.52% of the company's revenue with HK$25.01 million and had accounts receivable of HK$4.88 million [236] Purchases and Vendor Contributions - For the fiscal year ended September 30, 2025, Vendor C represented 31.85% of the company's purchases, totaling HK$27.27 million (US$3.50 million) with accounts payable of HK$12.02 million (US$1.54 million) [237] Liquidity and Financial Management - The company regularly monitors liquidity requirements and maintains sufficient cash reserves and committed lines of funding to meet short and long-term liquidity needs [238] - The company is exposed to interest rate risk primarily related to variable-rate import facilities, with no derivative instruments currently used to mitigate this risk [239] - As of September 30, 2024 and 2025, the company had no outstanding forward exchange or foreign currency option contracts to hedge against foreign currency risk [240] Accounting Policies and Estimates - The company prepares financial statements in accordance with U.S. GAAP, which involves significant accounting estimates that could differ from actual results [243] - Accounts receivable are recorded at gross billing amounts less allowances for uncollectible accounts, with credit terms ranging from 30 to 90 days [248] - Revenue is recognized at the point of delivery when control of goods is transferred to customers, in compliance with ASC Topic 606 [250] - The company adopts ASU 2016-02 "Leases (Topic 842)" for lease accounting, requiring recognition of lease assets and liabilities for leases over twelve months [263] - The Company recognizes all leases as operating leases, with no leases having a duration of twelve months or less [266] - ROU assets and liabilities are measured based on the present value of lease payments, using the implicit rate or incremental borrowing rate [265] - Contributions to retirement plans are charged to general and administrative expenses as employee services are provided [267] - The Company uses the projected unit credit method for measuring long service payments under defined benefit plans [268] - Share-based compensation expense is recognized on a straight-line basis over the requisite service period, based on fair value at grant date [269] - Significant accounting estimates include useful lives of assets, impairment of long-lived assets, and revenue recognition [280] Economic Factors and Trends - The Company has not experienced material impacts from inflation on its financial performance for the years ended September 30, 2024 and 2025 [278] - Seasonal fluctuations affect sales volume, with higher sales leading up to Christmas and during fall/winter seasons [277] - The Company is evaluating the impact of ASU No. 2025-05 on its consolidated financial statements, which is expected to enhance disclosures [275] - The Company does not anticipate any trends or uncertainties that would materially affect its financial performance [279]

Financial Performance - Revenues for the year ended December 31, 2024, were $40.0 million, a decrease of $29.9 million, or 43%, compared to $69.9 million in 2023[179]. - Gross profit was $2.9 million (7% of revenue) in 2024, compared to $9.9 million (14% of revenue) in 2023, reflecting reduced margins due to losses on certain jobs[182]. - The net loss for the year ended December 31, 2024, was $36.5 million, or a net loss per share of $2.98, compared to a net loss of $25.4 million, or $2.34 per share in 2023[185]. Cost Management - Cost of revenues decreased to $37.1 million in 2024, down $22.9 million, or 38%, from $60.0 million in 2023[181]. - Operating expenses increased by $5.2 million, or 16%, to $38.4 million in 2024, primarily due to a $5.0 million increase in impairment of goodwill and intangibles[183]. Working Capital and Cash Flow - Negative working capital increased to $26.5 million as of December 31, 2024, from negative working capital of $5.1 million in 2023, an increase of $21.4 million[186]. - Cash decreased to $0.8 million as of December 31, 2024, down $0.3 million from $1.1 million in 2023[187]. - Net cash used in operating activities was $2.8 million in 2024, compared to $10.5 million in 2023[190][191]. - Net cash provided by financing activities was $2.7 million in 2024, primarily from additions to notes payable of $8.1 million[194]. - The company entered into a $10.0 million revolving loan agreement to assist with cash management, with $4.4 million borrowed under this line of credit as of December 31, 2024[188].

Distribution Information - Mesabi Trust declared a distribution of $0.26 per Unit of Beneficial Interest, payable on February 20, 2026[4] - The distribution amount represents a significant decrease from the previous year's distribution of $5.95 per Unit[4]

Financial Performance - BOK Financial Corporation reported annual net income of $578 million, or $9.17 per diluted share, for 2025, compared to $523.6 million, or $8.14 per diluted share, in 2024[2]. - Fourth quarter net income was $177.3 million, or $2.89 per diluted share, an increase from $140.9 million, or $2.22 per diluted share, in the prior quarter[1]. - Net income attributable to BOK Financial Corporation shareholders for Q4 2025 was $177,301 thousand, a 30.2% increase from $136,154 thousand in Q4 2024[50]. - Net income per share for Q4 2025 was $2.89, up from $2.12 in Q4 2024, representing a growth of 36.4%[50]. - Adjusted net income for Q4 2025 was $152,134,000, resulting in adjusted earnings per share of $2.48, compared to $2.89 for net income attributable to shareholders[55]. Revenue and Income Sources - Net interest income for 2025 totaled $1.3 billion, an increase of $116.6 million from the previous year, with a net interest margin of 2.87% compared to 2.65%[2]. - Fees and commissions revenue for the fourth quarter was $214.9 million, up $10.4 million, led by growth in trading revenue and fiduciary and asset management revenue[9]. - Other operating revenue increased by 15.9% to $244.3 million in the fourth quarter, driven by a $23.5 million pre-tax gain on the sale of a merchant banking investment[12]. - Total fees and commissions for the quarter reached $214,864 thousand, up from $206,938 thousand in the previous year, indicating a growth of 3.4%[51]. Loan and Deposit Growth - Average outstanding loan balances increased by $416 million to $25.2 billion, primarily driven by growth in the commercial loan portfolio[5]. - Period end loans grew by $786 million to $25.7 billion, with nonperforming assets stable at $75 million, or 0.29% of outstanding loans[1]. - Outstanding loans increased by $786 million to $25.7 billion, primarily driven by growth in commercial loans, with unfunded loan commitments growing by $590 million[16][17]. - Period-end deposits totaled $39.4 billion, an increase of $935 million, with interest-bearing transaction accounts up by $867 million[24]. - Total loans increased to $25,651,462,000 in Q4 2025, up from $24,865,194,000 in Q3 2025, representing a growth of 3.2%[61]. Operating Expenses and Efficiency - Operating expenses decreased by $8.7 million to $361.1 million in the fourth quarter, while personnel expenses decreased by $3.6 million[1]. - Total operating expenses for Q4 2025 were $361.1 million, a decrease of $8.7 million or 2.4% from the previous quarter[13]. - The efficiency ratio improved to 60.71% in Q4 2025 from 66.66% in Q3 2025, indicating better operational efficiency[54]. - The efficiency ratio for the year ended December 31, 2025, was 65.13%, indicating the company's operational efficiency[55]. Capital and Asset Management - The company's common equity Tier 1 capital ratio was 12.89% at December 31, 2025, down from 13.60% at September 30, 2025[26]. - Total assets increased to $52.2 billion as of December 31, 2025, up from $50.2 billion at September 30, 2025[47]. - The fair value of the available-for-sale securities portfolio increased by $126 million to $13.6 billion at December 31, 2025, with a net unrealized loss of $133 million[35]. - The tangible common equity ratio decreased to 9.46% in Q4 2025 from 10.06% in Q3 2025[54]. Credit Quality and Risk Management - Nonperforming assets totaled $75 million, or 0.29% of outstanding loans, showing a slight improvement from 0.30% in the previous quarter[29]. - Net charge-offs for the fourth quarter of 2025 were $1.4 million, or 0.02% of average loans, with trailing twelve months net charge-offs at $6.7 million, or 0.03% of average loans[31]. - The combined allowance for loan losses and off-balance sheet credit risk was $327 million, or 1.28% of outstanding loans, as of December 31, 2025[33]. - The allowance for loan losses to period end loans was 1.08% as of December 31, 2025, down from 1.12% in the previous quarter, suggesting a slight improvement in loan quality[67]. Shareholder Returns and Stock Activity - The company repurchased 2,617,414 shares of common stock at an average price of $107.99 per share during the fourth quarter[1]. - Cash dividends paid in the quarter amounted to $38,042 thousand, up from $36,421 thousand in the previous year, reflecting a growth of 4.5%[52]. - Shares repurchased during the quarter totaled 2,617,414, with an amount of $282,645 thousand spent, reflecting a significant investment in share buybacks[52]. Segment Performance - Commercial Banking segment contributed $164.0 million to net income before taxes, an increase of $24.2 million from the previous quarter, with average loans rising by $249 million, or 1%[40]. - Consumer Banking segment net income before taxes was $15.1 million, with average loans increasing by $83 million, or 3%[41]. - Wealth Management segment contributed $42.7 million to net income before taxes, an increase of $6.1 million, with assets under management rising by $3.9 billion, or 3%[42].