Fifth Third(US:FITB)2023-07-20 11:42Financial Performance - The company reported an adjusted EPS of $0.87 in 2Q23 [140] - Net interest margin (FTE) was 3.10% in 2Q23 [160] - Adjusted efficiency ratio was 54.9% in 2Q23 [160] - Pre-provision net revenue (PPNR) was $958 million, with adjusted PPNR at $1 billion [200, 160] Loan Portfolio and Credit Quality - Total Bancorp loans were $123 billion as of June 30, 2023 [24] - Office CRE represents 1.3% of total loans [24, 30] - The company's net charge-off ratio was 0.29% [200] - NPA ratio was driven by $93 million from Dividend Finance [3] Deposits and Funding - 26% of deposits are FDIC insured [1] - Median relationship deposit balance is approximately $340,000 [1] - Holding Company cash as of June 30, 2023 was $5.1 billion [28] Interest Rate Risk Management - The company has $12 billion in active cash flow hedges [22] - The company also has approximately $6 billion in fair value hedges associated with long-term debt [22]