Fifth Third Bancorp (FITB) Presents at The BancAnalysts Association of Boston Conference Transcript

Company Overview - Fifth Third is headquartered in Cincinnati, Ohio, and has approximately $200 billion in assets [1] - The company operates in three principal segments: commercial banking, consumer and small business, and wealth and asset management [1] - Fifth Third demonstrates strong profitability metrics, with an ROTCE of about 18% and an ROA of 1.25% [1] - Noninterest-bearing deposits constitute 25% of total deposits, indicating a favorable funding structure [1] - The company's valuation is at 10.5 times next year's earnings [1] Leadership - Bryan Preston serves as the Executive Vice President and Chief Financial Officer, responsible for functions including FP&A, corporate development, accounting, and tax [2] - Preston was appointed CFO in January 2024 after four years as Treasurer and has been with Fifth Third since 2003 [2][3] - Jamie Leonard is the Chief Operating Officer, overseeing areas such as retail banking, consumer lending, business controls, marketing, operations, and strategy [3] - Leonard became COO in January 2024 after three years as CFO and previously held the position of Chief Risk Officer at Struthers [3] Strategic Direction - The company has historically focused on organic growth rather than mergers and acquisitions (M&A) [4] - The recent interest in pursuing the Comerica acquisition marks a strategic shift, prompting questions about its alignment with the company's overall strategy [4]