US Market News
2月前
Fifth Third Bancorp Reports First Quarter 2026 EarningsApril 17, 2026 6:30 AM
Business Wire
Core business momentum remains strong and Comerica acquisition meaningfully propels growth trajectory
Reported results included a net negative $0.68 impact from certain items on page 2
Fifth Third Bancorp (NASDAQ: FITB):
Key Financial Data
Key Highlights
$ in millions for all balance sheet and income statement items
1Q26
4Q25
1Q25
Successfully closed Comerica acquisition
Opening Balances as of February 1st:
Total assets, including goodwill, of $86 billion
Total loans of $51 billion
Total deposits of $65 billion
Stability:
Solid credit performance. Net charge-offs(b) of 37 bps in 1Q26; lowest since 4Q23
Funding mix strengthened; demand deposits increased from 25% of total deposits to 28%
Tangible Common Equity(a) increased 11 bps to 7.3%
Profitability:
Net interest margin(a) expanded 17 bps sequentially
Adjusted ROTCE ex. AOCI(a) improved 190 bps and adjusted ROA(a) improved 9 bps year-over-year
Tangible book value per share(a) grew 15% year-over-year
Growth:
Newline deposits up $2.7B and fee revenues up 30% year-over-year
Legacy Fifth Third consumer household growth of 3%, including 8% in the Southeast
LOIs for 81 Texas branch locations executed or in process
Income Statement Data
Net income available to common shareholders
$128
$699
$478
Net interest income (U.S. GAAP)
1,934
1,529
1,437
Net interest income (FTE)(a)
1,939
1,533
1,442
Noninterest income
895
811
694
Noninterest expense
2,395
1,309
1,304
Per Share Data
Earnings per share, basic
$0.16
$1.05
$0.71
Earnings per share, diluted
0.15
1.04
0.71
Book value per share
35.24
30.18
27.41
Tangible book value per share(a)
22.88
22.60
19.92
Balance Sheet & Credit Quality
Average portfolio loans and leases
$157,632
$123,430
$121,272
Average deposits
209,352
168,384
164,157
Accumulated other comprehensive loss
(3,234)
(3,110)
(3,895)
Net charge-off ratio(b)
0.37
%
0.40
%
0.46
%
Nonperforming asset ratio(c)
0.57
0.65
0.81
Financial Ratios
Return on average assets
0.25
%
1.36
%
0.99
%
Return on average common equity
1.8
14.0
10.8
Return on average tangible common equity(a)
3.5
19.0
15.2
CET1 capital(d)
9.96
10.81
10.43
Net interest margin(a)
3.30
3.13
3.03
Efficiency(a)
84.5
55.8
61.0
Other than the Quarterly Financial Review tables beginning on page 14, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Regulation S-K that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis.
From Tim Spence, Fifth Third Chairman, CEO and President:
The first quarter reflected continued momentum across Fifth Third. We delivered strong loan and deposit growth, driven by new commercial relationships and continued household expansion. We closed the acquisition of Comerica on February 1st, and early financial benefits are already showing up, including strong net interest margin expansion and tangible book value per share growth.
Integration is progressing as we expected. We have integrated the combined management teams and are retaining key customer-facing colleagues, supporting continuity for clients as we move forward as one organization. We are also seeing early revenue synergies across both commercial and consumer businesses.
Our focus is unchanged: stability, profitability, and growth, in that order. Disciplined execution will drive growth and deepen client relationships as we expand in our attractive footprint markets, while maintaining strong credit performance and delivering the expected financial synergies from Comerica. We are building a better and more resilient institution and remain committed to delivering consistent, long-term value for shareholders.
Income Statement Highlights
($ in millions, except per share data)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Condensed Statements of Income
Net interest income (NII)(a)
$1,939
$1,533
$1,442
26
%
34
%
Provision for credit losses
227
119
174
91
%
30
%
Noninterest income
895
811
694
10
%
29
%
Noninterest expense
2,395
1,309
1,304
83
%
84
%
Income before income taxes(a)
$212
$916
$658
(77
)%
(68
)%
Taxable equivalent adjustment
$5
$4
$5
25
%
—
Applicable income tax expense
42
181
138
(77
)%
(70
)%
Net income
$165
$731
$515
(77
)%
(68
)%
Dividends on preferred stock
37
32
37
16
%
—
Net income available to common shareholders
$128
$699
$478
(82
)%
(73
)%
Earnings per share, diluted
$0.15
$1.04
$0.71
(86
)%
(79
)%
Fifth Third Bancorp (NASDAQ®: FITB) today reported first quarter 2026 net income available to common shareholders of $128 million, or $0.15 per diluted share, compared to $699 million, or $1.04 per diluted share, in the prior quarter and $478 million, or $0.71 per diluted share, in the year-ago quarter.
On February 1, 2026, Fifth Third completed the acquisition of Comerica Incorporated in an all-stock transaction valued at approximately $12.7 billion. First quarter results include two months of activity for Comerica.
Diluted earnings per share impact of certain item(s) - 1Q26
(after-tax impact; $ in millions, except per share data)
Merger-related charges(e)1,2
$(510)
Merger-related Day 1 ACL build(e)
(63)
Interchange litigation matters(e)
6
After-tax impact of certain item(s)
$(567)
Diluted earnings per share impact of certain item(s)3
$(0.68)
Totals may not foot due to rounding; 1A portion of the adjustments related to merger-related expenses are not tax-deductible; 2Pre-tax merger-related charges increased noninterest expense by $635 million and decreased noninterest income by $22 million; 3Diluted earnings per share impact reflects 830.274 million average diluted shares outstanding
Net Interest Income
(FTE; $ in millions)(a)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Interest Income
Interest income
$2,977
$2,472
$2,437
20%
22%
Interest expense
1,038
939
995
11%
4%
Net interest income (NII)
$1,939
$1,533
$1,442
26%
34%
Average Yield/Rate Analysis
bps Change
Yield on interest-earning assets
5.07%
5.05%
5.13%
2
(6)
Rate paid on interest-bearing liabilities
2.44%
2.60%
2.80%
(16)
(36)
Ratios
Net interest rate spread
2.63%
2.45%
2.33%
18
30
Net interest margin (NIM)
3.30%
3.13%
3.03%
17
27
Fully taxable-equivalent (FTE) NII of $1.939 billion increased $406 million, or 26%, compared to the prior quarter. This improvement primarily reflects contributions from the Comerica acquisition, lower funding costs and disciplined balance sheet management. These benefits were partially offset by the impact of market rates on floating rate loans and lower day count. These same factors contributed to the 17 bps increase in NIM compared to the prior quarter. Purchase accounting accretion contributed approximately $38 million to net interest income in the quarter.
Compared to the year-ago quarter, NII increased $497 million, or 34%, and NIM increased 27 bps. This improvement was driven by the addition of Comerica earning assets and lower funding costs, partially offset by lower market rates impacting earning asset yields.
Noninterest Income
($ in millions)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Noninterest Income
Wealth and asset management revenue
$233
$185
$172
26%
35%
Commercial payments revenue
218
167
153
31%
42%
Consumer banking revenue
146
143
137
2%
7%
Capital markets fees
134
121
90
11%
49%
Commercial banking revenue
105
102
80
3%
31%
Mortgage banking net revenue
44
56
57
(21)%
(23)%
Other noninterest income
27
42
14
(36)%
93%
Securities losses, net
(12)
(5)
(9)
140%
33%
Total noninterest income
$895
$811
$694
10%
29%
Noninterest income of $895 million increased $84 million, or 10%, from the prior quarter and increased $201 million, or 29%, from the year-ago quarter. Both comparisons reflect two months of results from Comerica in the quarter. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are offset in noninterest expense.
Noninterest Income excluding certain items
($ in millions)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)
$895
$811
$694
Merger-related charges
22
—
—
Interchange litigation matters
(8)
8
18
Litigation settlements
—
(12)
—
Securities losses, net
12
5
9
Noninterest income excluding certain items(a)
$921
$812
$721
13%
28%
Noninterest income excluding certain items of $921 million increased $109 million, or 13%, compared to the prior quarter and increased $200 million, or 28%, from the year-ago quarter.
Comparisons to the prior and year-ago quarters were primarily driven by merger-related impacts with additional incremental contributions from positive business momentum. Wealth and asset management revenue totaled $233 million, supported by seasonal tax-related revenue and higher personal asset management revenue. Commercial payments revenue was $218 million, reflecting continued strength in core treasury services. Capital markets fees of $134 million were driven by client financial risk management revenue. Commercial banking revenue totaled $105 million, reflecting higher commercial lending-related fees. Mortgage banking net revenue was $44 million, reflecting lower MSR net valuation adjustments.
Noninterest Expense
($ in millions)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Noninterest Expense
Compensation and benefits
$1,410
$683
$750
106%
88%
Technology and communications
204
138
123
48%
66%
Net occupancy expense
140
89
87
57%
61%
Card and processing expense
79
27
21
193%
276%
Equipment expense
55
43
42
28%
31%
Loan and lease expense
42
41
30
2%
40%
Marketing expense
50
37
28
35%
79%
Other noninterest expense
415
251
223
65%
86%
Total noninterest expense
$2,395
$1,309
$1,304
83%
84%
Noninterest expense of $2.395 billion increased 83% from the prior quarter and increased 84% from the year-ago quarter. Both comparisons include two months of Comerica results in the quarter and the reported results reflect the impact of certain items in the table below.
Noninterest Expense excluding certain item(s)
($ in millions)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)
$2,395
$1,309
$1,304
Merger-related charges
(635)
(13)
—
Fifth Third Foundation contribution
—
(50)
—
FDIC special assessment
—
25
—
Interchange litigation matters
—
(3)
—
Noninterest expense excluding certain item(s)(a)
$1,760
$1,268
$1,304
39%
35%
Non-qualified deferred compensation benefit
9
5
4
Noninterest expense excluding certain item(s) and non-qualified deferred compensation(a)
$1,769
$1,273
$1,308
39%
35%
Noninterest expense excluding certain items and non-qualified deferred compensation of $1.769 billion increased 39% compared to the prior quarter and increased 35% from the year-ago quarter. Expenses in the quarter were impacted by ongoing costs associated with the merger and seasonal-related increases in compensation and benefits. Merger-related expenses of $635 million noted above represent approximately half of the expected full-year charges.
Average Interest-Earning Assets
($ in millions)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans
$73,264
$53,947
$53,401
36
%
37
%
Commercial mortgage loans
21,969
12,079
12,368
82
%
78
%
Commercial construction loans
7,278
5,399
5,797
35
%
26
%
Commercial leases
3,347
3,172
3,110
6
%
8
%
Total commercial loans and leases
$105,858
$74,597
$74,676
42
%
42
%
Consumer loans:
Residential mortgage loans
$18,848
$17,660
$17,552
7
%
7
%
Home equity
6,064
4,769
4,222
27
%
44
%
Indirect secured consumer loans
18,105
17,879
16,476
1
%
10
%
Credit card
1,659
1,694
1,627
(2
)%
2
%
Solar energy installation loans
4,516
4,486
4,221
1
%
7
%
Other consumer loans
2,582
2,345
2,498
10
%
3
%
Total consumer loans
$51,774
$48,833
$46,596
6
%
11
%
Total average portfolio loans and leases
$157,632
$123,430
$121,272
28
%
30
%
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale
$85
$19
$64
347
%
33
%
Consumer loans held for sale
566
698
428
(19
)%
32
%
Total average loans and leases held for sale
$651
$717
$492
(9
)%
32
%
Total average loans and leases
$158,283
$124,147
$121,764
27
%
30
%
Securities (taxable and tax-exempt)
$59,950
$52,512
$56,598
14
%
6
%
Other short-term investments
19,728
17,485
14,446
13
%
37
%
Total average interest-earning assets
$237,961
$194,144
$192,808
23
%
23
%
Compared to the prior quarter, total average portfolio loans and leases of $158 billion increased 28% and average commercial portfolio loans and leases of $106 billion increased 42%. Compared to the year-ago quarter, total average portfolio loans and leases increased 30% and average commercial portfolio loans and leases increased 42%. In each comparison the growth was primarily driven by commercial loans and leases acquired from Comerica.
Compared to the prior quarter, average consumer portfolio loans of $52 billion increased 6%. On a year-over-year basis, average consumer portfolio loans increased 11%. Growth in both periods primarily reflected consumer loans acquired from Comerica, with additional growth due to strong production in indirect secured consumer loans.
Average securities (taxable and tax-exempt; amortized cost) of $60 billion in the current quarter increased 14% compared to the prior quarter and 6% compared to the year-ago quarter. Growth in both periods primarily reflected securities acquired from Comerica. Average other short-term investments (including interest-bearing cash) of $20 billion in the current quarter increased 13% compared to the prior quarter and increased 37% compared to the year-ago quarter.
End of Period Interest-Earning Assets
($ in millions)
As of
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
End of Period Portfolio Loans and Leases
Total commercial loans and leases
$122,859
$73,562
$75,137
67
%
64
%
Total consumer loans
53,391
49,089
47,054
9
%
13
%
Total portfolio loans and leases
$176,250
$122,651
$122,191
44
%
44
%
End of Period Loans and Leases Held for Sale
Total loans and leases held for sale
$1,365
$733
$473
86
%
189
%
Total loans and leases
$177,615
$123,384
$122,664
44
%
45
%
Securities (taxable and tax-exempt)
$67,823
$51,961
$56,323
31
%
20
%
Other short-term investments
17,456
18,876
14,965
(8
)%
17
%
Total interest-earning assets
$262,894
$194,221
$193,952
35
%
36
%
Period-end commercial portfolio loans and leases of $123 billion increased 67% and 64% compared to the prior and year-ago quarters, respectively. Growth in both comparisons primarily reflecting $46.5 billion of commercial loans and leases acquired from Comerica. Strong loan production and a rebound in line utilization also contributed to quarterly growth.
Period-end consumer portfolio loans of $53 billion increased 9% compared to the prior quarter and 13% compared to the year-ago quarter, both primarily driven by $4.1 billion of consumer loans acquired from Comerica.
Total period-end securities (taxable and tax-exempt; amortized cost) of $68 billion in the current quarter increased 31% compared to the prior quarter and increased 20% compared to the year-ago quarter. Securities growth in the quarter included $11.2 billion acquired from Comerica. Period-end other short-term investments of approximately $17 billion decreased 8% compared to the prior quarter and increased 17% compared to the year-ago quarter.
Average Deposits
($ in millions)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Average Deposits
Demand
$55,770
$41,771
$39,788
34
%
40
%
Interest checking
67,369
58,612
57,964
15
%
16
%
Savings
17,546
16,103
17,226
9
%
2
%
Money market
54,219
39,409
36,453
38
%
49
%
Total transaction deposits
$194,904
$155,895
$151,431
25
%
29
%
CDs $250,000 or less
11,641
10,541
10,380
10
%
12
%
Total core deposits
$206,545
$166,436
$161,811
24
%
28
%
CDs over $250,0001
2,807
1,948
2,346
44
%
20
%
Total average deposits
$209,352
$168,384
$164,157
24
%
28
%
1CDs over $250,000 includes $0.4BN, $0.8BN, and $1.3BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 3/31/26, 12/31/25, and 3/31/25, respectively.
Total average deposits of $209 billion increased 24% compared to the prior quarter and period-end total deposits of $234 billion increased 36%. Compared to the year-ago quarter, total average deposits increased 28% and period-end total deposits increased 41%. In both comparisons the increase reflects $65.2 billion of deposits acquired from Comerica. Growth in high quality, low-cost deposits remains a key strategic priority to further enhance the deposit base.
The period-end portfolio loan-to-core deposit ratio was 76% in the current quarter, compared to 72% in the prior quarter and 75% in the year-ago quarter.
Average Wholesale Funding
($ in millions)
For the Three Months Ended
% Change
March
December
March
2026
2025
2025
Seq
Yr/Yr
Average Wholesale Funding
CDs over $250,0001
$2,807
$1,948
$2,346
44
%
20
%
Federal funds purchased
178
204
194
(13
)%
(8
)%
Securities sold under repurchase agreements
322
365
286
(12
)%
13
%
FHLB advances
99
2,552
4,767
(96
)%
(98
)%
Derivative collateral and other secured borrowings
83
84
84
(1
)%
(1
)%
Long-term debt
18,062
13,700
14,585
32
%
24
%
Total average wholesale funding
$21,551
$18,853
$22,262
14
%
(3
)%
1CDs over $250,000 includes $0.4BN, $0.8BN, and $1.3BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 3/31/26, 12/31/25, and 3/31/25, respectively.
Average wholesale funding of $22 billion increased 14% compared to the prior quarter, driven by an increase in long-term debt reflecting the $5.5 billion acquired from Comerica and the $2 billion issuance in January 2026, partially offset by a decrease in FHLB advances. The 3% decrease in average wholesale funding compared to the year-ago quarter was primarily attributable to a decrease in FHLB advances, partially offset by an increase in long-term debt.
Credit Quality Summary
($ in millions)
As of and For the Three Months Ended
March
December
September
June
March
2026
2025
2025
2025
2025
Total nonaccrual portfolio loans and leases (NPLs)
$960
$767
$768
$853
$966
Repossessed property
11
11
12
8
9
OREO
28
19
21
25
21
Total nonperforming portfolio loans and leases and OREO (NPAs)
$999
$797
$801
$886
$996
NPL ratio(f)
0.54%
0.62%
0.62%
0.70%
0.79%
NPA ratio(c)
0.57%
0.65%
0.65%
0.72%
0.81%
Portfolio loans and leases 30-89 days past due (accrual)
$683
$360
$348
$277
$385
Portfolio loans and leases 90 days past due (accrual)
49
30
29
34
33
30-89 days past due as a % of portfolio loans and leases
0.39%
0.29%
0.28%
0.23%
0.31%
90 days past due as a % of portfolio loans and leases
0.03%
0.02%
0.02%
0.03%
0.03%
Allowance for loan and lease losses (ALLL), beginning
$2,253
$2,265
$2,412
$2,384
$2,352
Total net losses charged-off
(144)
(125)
(339)
(139)
(136)
Provision for loan and lease losses
152
113
192
167
168
Allowance on PCD loans and leases at acquisition
180
—
—
—
—
Allowance on PSLs at acquisition
481
—
—
—
—
ALLL, ending
$2,922
$2,253
$2,265
$2,412
$2,384
Reserve for unfunded commitments, beginning
$157
$151
$146
$140
$134
Provision for the reserve for unfunded commitments
75
6
5
6
6
Reserve for unfunded commitments, ending
$232
$157
$151
$146
$140
Total allowance for credit losses (ACL)
$3,154
$2,410
$2,416
$2,558
$2,524
ACL ratios:
As a % of portfolio loans and leases
1.79%
1.96%
1.96%
2.09%
2.07%
As a % of nonperforming portfolio loans and leases
328%
314%
314%
300%
261%
As a % of nonperforming portfolio assets
316%
302%
302%
289%
253%
ALLL as a % of portfolio loans and leases
1.66%
1.84%
1.84%
1.97%
1.95%
Total losses charged-off
$(187)
$(177)
$(382)
$(194)
$(173)
Total recoveries of losses previously charged-off
43
52
43
55
37
Total net losses charged-off1
$(144)
$(125)
$(339)
$(139)
$(136)
Net charge-off ratio (NCO ratio)(b)1
0.37%
0.40%
1.09%
0.45%
0.46%
Commercial NCO ratio
0.26%
0.27%
1.46%
0.38%
0.35%
Consumer NCO ratio
0.58%
0.59%
0.52%
0.56%
0.63%
1Excludes net charge-offs of $21 million which were taken immediately at the time of merger.
The provision for credit losses totaled $227 million in the current quarter and included approximately $83 million of provision expense to establish part of the Day 1 allowance for Comerica. The total Day 1 allowance for credit losses established due to the Comerica acquisition was $744 million, with the allowance primarily established through purchase accounting. The ACL ratio represented 1.79% of total portfolio loans and leases at quarter end, down 17 bps from the prior quarter and down 28 bps from the year-ago quarter. The ACL coverage ratio increased to 328% of nonperforming portfolio loans and leases and 316% of nonperforming portfolio assets.
Net charge-offs totaled $144 million in the current quarter, up $19 million from the prior quarter and the NCO ratio decreased 3 bps to 0.37%. Commercial net charge-offs were $69 million, with a commercial NCO ratio of 0.26%, down 1 bp from the prior quarter. Consumer net charge-offs were $75 million, with a consumer NCO ratio of 0.58%, down 1 bp from the prior quarter.
Compared to the year-ago quarter, net charge-offs increased $8 million and the NCO ratio decreased 9 bps. The commercial NCO ratio decreased 9 bps, and the consumer NCO ratio decreased 5 bps compared to the prior year.
Nonperforming portfolio loans and leases totaled $960 million in the current quarter, representing an NPL ratio of 0.54%, compared to 0.62% in the prior quarter and 0.79% in the year-ago quarter. Nonperforming portfolio assets totaled $999 million in the current quarter, resulting in an NPA ratio of 0.57%, compared to 0.65% in the prior quarter and 0.81% in the year-ago quarter.
Capital Position
As of and For the Three Months Ended
March
December
September
June
March
2026
2025
2025
2025
2025
Capital Position
Average total Bancorp shareholders' equity as a % of average assets
11.34
%
10.11
%
10.02
%
9.82
%
9.50
%
Tangible equity(a)
9.01
%
9.28
%
9.12
%
9.39
%
9.07
%
Tangible common equity (excluding AOCI)(a)
8.26
%
8.46
%
8.29
%
8.38
%
8.07
%
Tangible common equity (including AOCI)(a)
7.25
%
7.14
%
6.89
%
6.84
%
6.40
%
Regulatory Capital Ratios(d)
CET1 capital
9.96
%
10.81
%
10.57
%
10.58
%
10.43
%
Tier 1 risk-based capital
10.86
%
11.87
%
11.63
%
11.85
%
11.71
%
Total risk-based capital
12.56
%
13.78
%
13.54
%
13.77
%
13.63
%
Leverage
10.20
%
9.41
%
9.24
%
9.42
%
9.23
%
CET1 capital ratio of 9.96% decreased 85 bps sequentially, primarily reflecting capital impacts from the Comerica acquisition, including approximately $12.3 billion of common equity issued as consideration for the merger, $6.2 billion of goodwill and intangibles, $73 billion of risk-weighted assets, and $740 million of pre-tax merger-related impacts. There was no share repurchase activity in the first quarter of 2026.
Tax Rate
The effective tax rate for the quarter was 20.1% compared with 19.8% in the prior quarter and 21.2% in the year-ago quarter.
Conference Call
Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”). Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address, which will be available for 30 days.
Corporate Profile
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com.
Earnings Release End Notes
(a)
Non-GAAP measure; see discussion of non-GAAP reconciliation beginning on page 26.
(b)
Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis.
(c)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO.
(d)
Current period regulatory capital ratios are estimated.
(e)
Assumes a 24% tax rate.
(f)
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases.
FORWARD-LOOKING STATEMENTS
This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”).
There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) any instability or disruption in the financial system, including those caused by actual or perceived issues affecting the soundness of other financial institutions or market participants; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements, including the use of artificial intelligence; (13) failure of internal controls and other risk management programs; (14) losses related to fraud, theft, misappropriation or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) weakness in the national or local economies; (24) global political and economic uncertainty or negative actions; (25) changes in interest rates and the effects of inflation; (26) changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; (27) changes and trends in capital markets; (28) fluctuation of Fifth Third’s stock price; (29) volatility in mortgage banking revenue; (30) litigation, investigations, and enforcement proceedings; (31) breaches of contractual covenants, representations and warranties; (32) competition and changes in the financial services industry; (33) potential impacts of the adoption of real-time payment networks; (34) changing retail distribution strategies, customer preferences and behavior; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events, other natural disasters, or health emergencies (including pandemics); (43) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (44) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; (45) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments; and (46) risks relating to the merger with Comerica Incorporated, including Fifth Third’s inability to realize the anticipated benefits of the merger and potential disruption to Fifth Third’s business resulting from post-merger integration.
You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.
Quarterly Financial Review for March 31, 2026
Table of Contents
Financial Highlights
14-15
Consolidated Statements of Income
16-17
Consolidated Balance Sheets
18-19
Consolidated Statements of Changes in Equity
20
Average Balance Sheets and Yield/Rate Analysis
21
Summary of Loans and Leases
22
Regulatory Capital
23
Summary of Credit Loss Experience
24
Asset Quality
25
Non-GAAP Reconciliation
26-28
Segment Presentation
29
Fifth Third Bancorp and Subsidiaries
Financial Highlights
As of and For the
Three Months Ended
% / bps
$ in millions, except per share data
Change
(unaudited)
March
December
March
2026
2025
2025
Seq
Yr/Yr
Income Statement Data
Net interest income
$1,934
$1,529
$1,437
26%
35%
Net interest income (FTE)(a)
1,939
1,533
1,442
26%
34%
Noninterest income
895
811
694
10%
29%
Total revenue (FTE)(a)
2,834
2,344
2,136
21%
33%
Provision for credit losses
227
119
174
91%
30%
Noninterest expense
2,395
1,309
1,304
83%
84%
Net income
165
731
515
(77%)
(68%)
Net income available to common shareholders
128
699
478
(82%)
(73%)
Earnings Per Share Data
Net income allocated to common shareholders
$128
$699
$478
(82%)
(73%)
Average common shares outstanding (in thousands):
Basic
825,119
664,384
671,052
24%
23%
Diluted
830,274
669,153
676,040
24%
23%
Earnings per share, basic
$0.16
$1.05
$0.71
(85%)
(77%)
Earnings per share, diluted
0.15
1.04
0.71
(86%)
(79%)
Common Share Data
Cash dividends per common share
$0.40
$0.40
$0.37
—
8%
Book value per share
35.24
30.18
27.41
17%
29%
Market value per share
46.46
46.81
39.20
(1%)
19%
Common shares outstanding (in thousands)
905,823
661,198
667,272
37%
36%
Market capitalization
$42,085
$30,951
$26,157
36%
61%
Financial Ratios
Return on average assets
0.25%
1.36%
0.99%
(111)
(74)
Return on average common equity
1.8%
14.0%
10.8%
NM
(900)
Return on average tangible common equity(a)
3.5%
19.0%
15.2%
NM
NM
Noninterest income as a percent of total revenue(a)
32%
35%
32%
(300)
—
Dividend payout
250.0%
38.1%
52.1%
NM
NM
Average total Bancorp shareholders’ equity as a percent of average assets
11.34%
10.11%
9.50%
123
184
Tangible common equity(a)
8.26%
8.46%
8.07%
(20)
19
Net interest margin (FTE)(a)
3.30%
3.13%
3.03%
17
27
Efficiency (FTE)(a)
84.5%
55.8%
61.0%
NM
NM
Effective tax rate
20.1%
19.8%
21.2%
30
(110)
Credit Quality
Net losses charged-off(h)
$144
$125
$136
15%
6%
Net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.37%
0.40%
0.46%
(3)
(9)
ALLL as a percent of portfolio loans and leases
1.66%
1.84%
1.95%
(18)
(29)
ACL as a percent of portfolio loans and leases(f)
1.79%
1.96%
2.07%
(17)
(28)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO
0.57%
0.65%
0.81%
(8)
(24)
Average Balances
Loans and leases, including held for sale
$158,283
$124,147
$121,764
27%
30%
Securities and other short-term investments
79,678
69,997
71,044
14%
12%
Assets
265,551
213,021
210,558
25%
26%
Transaction deposits(b)
194,904
155,895
151,431
25%
29%
Core deposits(c)
206,545
166,436
161,811
24%
28%
Wholesale funding(d)
21,551
18,853
22,262
14%
(3%)
Bancorp shareholders' equity
30,108
21,527
20,000
40%
51%
Regulatory Capital Ratios(e)
CET1 capital
9.96%
10.81%
10.43%
(85)
(47)
Tier 1 risk-based capital
10.86%
11.87%
11.71%
(101)
(85)
Total risk-based capital
12.56%
13.78%
13.63%
(122)
(107)
Leverage
10.20%
9.41%
9.23%
79
97
Additional Metrics
Banking centers
1,489
1,130
1,084
32%
37%
ATMs
2,643
2,199
2,069
20%
28%
Full-time equivalent employees
25,980
18,676
18,786
39%
38%
Assets under care ($ in billions)(g)
$746
$690
$639
8%
17%
Assets under management ($ in billions)(g)
119
80
68
49%
75%
(a)
Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.
(b)
Includes demand, interest checking, savings and money market deposits..
(c)
Includes transaction deposits plus CDs $250,000 or less.
(d)
Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.
(e)
Current period regulatory capital ratios are estimates.
(f)
The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.
(g)
Assets under management and assets under care include trust and brokerage assets.
(h)
Excludes net charge-offs of $21 million which were taken immediately at the time of merger.
Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data
As of and For the Three Months Ended
(unaudited)
March
December
September
June
March
2026
2025
2025
2025
2025
Income Statement Data
Net interest income
$1,934
$1,529
$1,520
$1,495
$1,437
Net interest income (FTE)(a)
1,939
1,533
1,525
1,500
1,442
Noninterest income
895
811
781
750
694
Total revenue (FTE)(a)
2,834
2,344
2,306
2,250
2,136
Provision for credit losses
227
119
197
173
174
Noninterest expense
2,395
1,309
1,267
1,264
1,304
Net income
165
731
649
628
515
Net income available to common shareholders
128
699
608
591
478
Earnings Per Share Data
Net income allocated to common shareholders
$128
$699
$608
$591
$478
Average common shares outstanding (in thousands):
Basic
825,119
664,384
666,427
670,787
671,052
Diluted
830,274
669,153
670,878
674,034
676,040
Earnings per share, basic
$0.16
$1.05
$0.91
$0.88
$0.71
Earnings per share, diluted
0.15
1.04
0.91
0.88
0.71
Common Share Data
Cash dividends per common share
$0.40
$0.40
$0.40
$0.37
$0.37
Book value per share
35.24
30.18
29.26
28.47
27.41
Market value per share
46.46
46.81
44.55
41.13
39.20
Common shares outstanding (in thousands)
905,823
661,198
660,973
667,710
667,272
Market capitalization
$42,085
$30,951
$29,446
$27,463
$26,157
Financial Ratios
Return on average assets
0.25%
1.36%
1.21%
1.20%
0.99%
Return on average common equity
1.8%
14.0%
12.6%
12.8%
10.8%
Return on average tangible common equity(a)
3.5%
19.0%
17.3%
17.6%
15.2%
Noninterest income as a percent of total revenue(a)
32%
35%
34%
33%
32%
Dividend payout
250.0%
38.1%
44.0%
42.0%
52.1%
Average total Bancorp shareholders’ equity as a percent of average assets
11.34%
10.11%
10.02%
9.82%
9.50%
Tangible common equity(a)
8.26%
8.46%
8.29%
8.38%
8.07%
Net interest margin (FTE)(a)
3.30%
3.13%
3.13%
3.12%
3.03%
Efficiency (FTE)(a)
84.5%
55.8%
54.9%
56.2%
61.0%
Effective tax rate
20.1%
19.8%
22.6%
22.2%
21.2%
Credit Quality
Net losses charged-off(h)
$144
$125
$339
$139
$136
Net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.37%
0.40%
1.09%
0.45%
0.46%
ALLL as a percent of portfolio loans and leases
1.66%
1.84%
1.84%
1.97%
1.95%
ACL as a percent of portfolio loans and leases(f)
1.79%
1.96%
1.96%
2.09%
2.07%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO
0.57%
0.65%
0.65%
0.72%
0.81%
Average Balances
Loans and leases, including held for sale
$158,283
$124,147
$123,993
$123,657
$121,764
Securities and other short-term investments
79,678
69,997
69,507
69,025
71,044
Assets
265,551
213,021
211,770
210,554
210,558
Transaction deposits(b)
194,904
155,895
151,669
150,881
151,431
Core deposits(c)
206,545
166,436
162,510
161,375
161,811
Wholesale funding(d)
21,551
18,853
21,821
22,423
22,262
Bancorp shareholders’ equity
30,108
21,527
21,216
20,670
20,000
Regulatory Capital Ratios(e)
CET1 capital
9.96%
10.81%
10.57%
10.58%
10.43%
Tier 1 risk-based capital
10.86%
11.87%
11.63%
11.85%
11.71%
Total risk-based capital
12.56%
13.78%
13.54%
13.77%
13.63%
Leverage
10.20%
9.41%
9.24%
9.42%
9.23%
Additional Metrics
Banking centers
1,489
1,130
1,102
1,089
1,084
ATMs
2,643
2,199
2,184
2,170
2,069
Full-time equivalent employees
25,980
18,676
18,476
18,690
18,786
Assets under care ($ in billions)(g)
$746
$690
$681
$657
$639
Assets under management ($ in billions)(g)
119
80
77
73
68
(a)
Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.
(b)
Includes demand, interest checking, savings and money market deposits.
(c)
Includes transaction deposits plus CDs $250,000 or less.
(d)
Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.
(e)
Current period regulatory capital ratios are estimates.
(f)
The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.
(g)
Assets under management and assets under care include trust and brokerage assets.
(h)
Excludes net charge-offs of $21 million which were taken immediately at the time of merger.
Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions
For the Three Months Ended
% Change
(unaudited)
March
December
March
2026
2025
2025
Seq
Yr/Yr
Interest Income
Interest and fees on loans and leases
$2,293
$1,862
$1,816
23%
26%
Interest on securities
501
431
451
16%
11%
Interest on other short-term investments
178
175
165
2%
8%
Total interest income
2,972
2,468
2,432
20%
22%
Interest Expense
Interest on deposits
813
726
743
12%
9%
Interest on short-term borrowings
5
34
58
(85%)
(91%)
Interest on long-term debt
220
179
194
23%
13%
Total interest expense
1,038
939
995
11%
4%
Net Interest Income
1,934
1,529
1,437
26%
35%
Provision for credit losses
227
119
174
91%
30%
Net Interest Income After Provision for Credit Losses
1,707
1,410
1,263
21%
35%
Noninterest Income
Wealth and asset management revenue
233
185
172
26%
35%
Commercial payments revenue
218
167
153
31%
42%
Consumer banking revenue
146
143
137
2%
7%
Capital markets fees
134
121
90
11%
49%
Commercial banking revenue
105
102
80
3%
31%
Mortgage banking net revenue
44
56
57
(21%)
(23%)
Other noninterest income
27
42
14
(36%)
93%
Securities losses, net
(12)
(5)
(9)
140%
33%
Total noninterest income
895
811
694
10%
29%
Noninterest Expense
Compensation and benefits
1,410
683
750
106%
88%
Technology and communications
204
138
123
48%
66%
Net occupancy expense
140
89
87
57%
61%
Card and processing expense
79
27
21
193%
276%
Equipment expense
55
43
42
28%
31%
Loan and lease expense
42
41
30
2%
40%
Marketing expense
50
37
28
35%
79%
Other noninterest expense
415
251
223
65%
86%
Total noninterest expense
2,395
1,309
1,304
83%
84%
Income Before Income Taxes
207
912
653
(77%)
(68%)
Applicable income tax expense
42
181
138
(77%)
(70%)
Net Income
165
731
515
(77%)
(68%)
Dividends on preferred stock
37
32
37
16%
—
Net Income Available to Common Shareholders
$128
$699
$478
(82%)
(73%)
Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions
For the Three Months Ended
(unaudited)
March
December
September
June
March
2026
2025
2025
2025
2025
Interest Income
Interest and fees on loans and leases
$2,293
$1,862
$1,909
$1,881
$1,816
Interest on securities
501
431
444
458
451
Interest on other short-term investments
178
175
166
145
165
Total interest income
2,972
2,468
2,519
2,484
2,432
Interest Expense
Interest on deposits
813
726
750
732
743
Interest on short-term borrowings
5
34
61
61
58
Interest on long-term debt
220
179
188
196
194
Total interest expense
1,038
939
999
989
995
Net Interest Income
1,934
1,529
1,520
1,495
1,437
Provision for credit losses
227
119
197
173
174
Net Interest Income After Provision for Credit Losses
1,707
1,410
1,323
1,322
1,263
Noninterest Income
Wealth and asset management revenue
233
185
181
166
172
Commercial payments revenue
218
167
157
152
153
Consumer banking revenue
146
143
144
147
137
Capital markets fees
134
121
115
90
90
Commercial banking revenue
105
102
87
79
80
Mortgage banking net revenue
44
56
58
56
57
Other noninterest income
27
42
29
44
14
Securities (losses) gains, net
(12)
(5)
10
16
(9)
Total noninterest income
895
811
781
750
694
Noninterest Expense
Compensation and benefits
1,410
683
685
698
750
Technology and communications
204
138
128
126
123
Net occupancy expense
140
89
89
83
87
Card and processing expense
79
27
22
22
21
Equipment expense
55
43
44
41
42
Loan and lease expense
42
41
39
36
30
Marketing expense
50
37
34
43
28
Other noninterest expense
415
251
226
215
223
Total noninterest expense
2,395
1,309
1,267
1,264
1,304
Income Before Income Taxes
207
912
837
808
653
Applicable income tax expense
42
181
188
180
138
Net Income
165
731
649
628
515
Dividends on preferred stock
37
32
41
37
37
Net Income Available to Common Shareholders
$128
$699
$608
$591
$478
Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data
As of
% Change
(unaudited)
March
December
March
2026
2025
2025
Seq
Yr/Yr
Assets
Cash and due from banks
$4,084
$3,499
$3,009
17%
36%
Other short-term investments
17,456
18,876
14,965
(8%)
17%
Available-for-sale debt and other securities(a)
46,161
36,159
39,747
28%
16%
Held-to-maturity securities(b)
16,389
11,368
11,185
44%
47%
Trading debt securities
1,669
1,057
1,159
58%
44%
Equity securities
544
453
494
20%
10%
Loans and leases held for sale
1,365
733
473
86%
189%
Portfolio loans and leases:
Commercial and industrial loans
83,864
52,749
53,700
59%
56%
Commercial mortgage loans
27,143
12,228
12,357
122%
120%
Commercial construction loans
8,329
5,316
5,952
57%
40%
Commercial leases
3,523
3,269
3,128
8%
13%
Total commercial loans and leases
122,859
73,562
75,137
67%
64%
Residential mortgage loans
19,507
17,652
17,581
11%
11%
Home equity
6,735
4,846
4,265
39%
58%
Indirect secured consumer loans
18,296
17,964
16,804
2%
9%
Credit card
1,658
1,747
1,660
(5%)
—
Solar energy installation loans
4,465
4,560
4,262
(2%)
5%
Other consumer loans
2,730
2,320
2,482
18%
10%
Total consumer loans
53,391
49,089
47,054
9%
13%
Portfolio loans and leases
176,250
122,651
122,191
44%
44%
Allowance for loan and lease losses
(2,922)
(2,253)
(2,384)
30%
23%
Portfolio loans and leases, net
173,328
120,398
119,807
44%
45%
Bank premises and equipment
3,283
2,734
2,506
20%
31%
Goodwill
9,966
4,947
4,918
101%
103%
Intangible assets
1,233
69
82
NM
NM
Servicing rights
1,583
1,598
1,663
(1%)
(5%)
Other assets
19,978
12,485
12,661
60%
58%
Total Assets
$297,039
$214,376
$212,669
39%
40%
Liabilities
Deposits:
Demand
$65,335
$42,647
$40,855
53%
60%
Interest checking
72,425
61,155
58,420
18%
24%
Savings
18,610
16,155
17,583
15%
6%
Money market
62,345
39,285
36,505
59%
71%
CDs $250,000 or less
11,807
10,599
10,248
11%
15%
CDs over $250,000
3,099
1,978
1,894
57%
64%
Total deposits
233,621
171,819
165,505
36%
41%
Short-term borrowings
1,289
926
5,684
39%
(77%)
Accrued taxes, interest and expenses
2,628
2,083
1,722
26%
53%
Other liabilities
6,642
4,235
4,816
57%
38%
Long-term debt
18,753
13,589
14,539
38%
29%
Total Liabilities
262,933
192,652
192,266
36%
37%
Equity
Common stock(c)
2,585
2,051
2,051
26%
26%
Preferred stock
2,182
1,770
2,116
23%
3%
Capital surplus
15,586
3,831
3,773
307%
313%
Retained earnings
25,248
25,488
24,377
(1%)
4%
Accumulated other comprehensive loss
(3,234)
(3,110)
(3,895)
4%
(17%)
Treasury stock
(8,261)
(8,306)
(8,019)
(1%)
3%
Total Equity
34,106
21,724
20,403
57%
67%
Total Liabilities and Equity
$297,039
$214,376
$212,669
39%
40%
(a) Amortized cost
$49,238
$39,107
$43,445
26%
13%
(b) Market values
16,341
11,404
11,072
43%
48%
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized
2,000,000
2,000,000
2,000,000
—
—
Outstanding, excluding treasury
905,823
661,198
667,272
—
—
Treasury
258,416
262,695
256,621
—
—
Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data
As of
(unaudited)
March
December
September
June
March
2026
2025
2025
2025
2025
Assets
Cash and due from banks
$4,084
$3,499
$2,901
$2,972
$3,009
Other short-term investments
17,456
18,876
17,215
13,043
14,965
Available-for-sale debt and other securities(a)
46,161
36,159
36,461
38,270
39,747
Held-to-maturity securities(b)
16,389
11,368
11,498
11,630
11,185
Trading debt securities
1,669
1,057
1,266
1,324
1,159
Equity securities
544
453
287
404
494
Loans and leases held for sale
1,365
733
576
646
473
Portfolio loans and leases:
Commercial and industrial loans
83,864
52,749
53,947
53,312
53,700
Commercial mortgage loans
27,143
12,228
11,932
12,112
12,357
Commercial construction loans
8,329
5,316
5,326
5,551
5,952
Commercial leases
3,523
3,269
3,218
3,177
3,128
Total commercial loans and leases
122,859
73,562
74,423
74,152
75,137
Residential mortgage loans
19,507
17,652
17,644
17,681
17,581
Home equity
6,735
4,846
4,678
4,485
4,265
Indirect secured consumer loans
18,296
17,964
17,885
17,591
16,804
Credit card
1,658
1,747
1,692
1,707
1,660
Solar energy installation loans
4,465
4,560
4,432
4,316
4,262
Other consumer loans
2,730
2,320
2,376
2,464
2,482
Total consumer loans
53,391
49,089
48,707
48,244
47,054
Portfolio loans and leases
176,250
122,651
123,130
122,396
122,191
Allowance for loan and lease losses
(2,922)
(2,253)
(2,265)
(2,412)
(2,384)
Portfolio loans and leases, net
173,328
120,398
120,865
119,984
119,807
Bank premises and equipment
3,283
2,734
2,655
2,560
2,506
Goodwill
9,966
4,947
4,947
4,918
4,918
Intangible assets
1,233
69
76
75
82
Servicing rights
1,583
1,598
1,601
1,629
1,663
Other assets
19,978
12,485
12,555
12,536
12,661
Total Assets
$297,039
$214,376
$212,903
$209,991
$212,669
Liabilities
Deposits:
Demand
$65,335
$42,647
$41,830
$42,174
$40,855
Interest checking
72,425
61,155
57,239
55,524
58,420
Savings
18,610
16,155
16,110
16,614
17,583
Money market
62,345
39,285
38,748
36,586
36,505
CDs $250,000 or less
11,807
10,599
10,667
10,883
10,248
CDs over $250,000
3,099
1,978
1,975
2,426
1,894
Total deposits
233,621
171,819
166,569
164,207
165,505
Short-term borrowings
1,289
926
5,260
3,571
5,684
Accrued taxes, interest and expenses
2,628
2,083
1,943
1,970
1,722
Other liabilities
6,642
4,235
4,347
4,627
4,816
Long-term debt
18,753
13,589
13,677
14,492
14,539
Total Liabilities
262,933
192,652
191,796
188,867
192,266
Equity
Common stock(c)
2,585
2,051
2,051
2,051
2,051
Preferred stock
2,182
1,770
1,770
2,116
2,116
Capital surplus
15,586
3,831
3,813
3,794
3,773
Retained earnings
25,248
25,488
25,057
24,718
24,377
Accumulated other comprehensive loss
(3,234)
(3,110)
(3,276)
(3,546)
(3,895)
Treasury stock
(8,261)
(8,306)
(8,308)
(8,009)
(8,019)
Total Equity
34,106
21,724
21,107
21,124
20,403
Total Liabilities and Equity
$297,039
$214,376
$212,903
$209,991
$212,669
(a) Amortized cost
$49,238
$39,107
$39,617
$41,731
$43,445
(b) Market values
16,341
11,404
11,506
11,547
11,072
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
Outstanding, excluding treasury
905,823
661,198
660,973
667,710
667,272
Treasury
258,416
262,695
262,919
256,183
256,621
Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
For the Three Months Ended
March
March
2026
2025
Total Equity, Beginning
$21,724
$19,645
Net income
165
515
Other comprehensive income, net of tax:
Change in unrealized (losses) gains:
Available-for-sale debt securities
(100)
481
Qualifying cash flow hedges
(46)
235
Amortization of unrealized losses on securities transferred to held-to-maturity
22
25
Comprehensive income
41
1,256
Cash dividends declared:
Common stock
(368)
(251)
Preferred stock
(37)
(37)
Impact of Comerica acquisition
12,676
—
Impact of stock transactions under stock compensation plans, net
70
16
Shares acquired for treasury
—
(226)
Total Equity, Ending
$34,106
$20,403
Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate Analysis
For the Three Months Ended
$ in millions
March
December
March
(unaudited)
2026
2025
2025
Average
Average
Average
Average
Average
Average
Balance
Yield/Rate
Balance
Yield/Rate
Balance
Yield/Rate
Assets
Interest-earning assets:
Loans and leases:
Commercial and industrial loans(a)
$73,302
5.89%
$53,960
5.96%
$53,430
6.22%
Commercial mortgage loans(a)
22,005
5.85%
12,083
5.95%
12,388
5.97%
Commercial construction loans(a)
7,287
6.45%
5,399
6.84%
5,813
6.92%
Commercial leases(a)
3,347
4.86%
3,172
4.68%
3,110
4.80%
Total commercial loans and leases
105,941
5.89%
74,614
5.96%
74,741
6.17%
Residential mortgage loans
19,414
4.18%
18,358
4.01%
17,980
3.96%
Home equity
6,065
7.02%
4,770
7.23%
4,222
7.57%
Indirect secured consumer loans
18,105
5.54%
17,879
5.62%
16,476
5.57%
Credit card
1,659
13.94%
1,695
14.04%
1,627
14.76%
Solar energy installation loans
4,516
8.17%
4,486
9.00%
4,221
8.03%
Other consumer loans
2,583
8.77%
2,345
9.33%
2,497
9.37%
Total consumer loans
52,342
5.86%
49,533
5.94%
47,023
5.88%
Total loans and leases
158,283
5.88%
124,147
5.96%
121,764
6.06%
Securities:
Taxable securities
58,587
3.41%
51,157
3.28%
55,205
3.25%
Tax exempt securities(a)
1,363
3.26%
1,355
3.12%
1,393
3.18%
Other short-term investments
19,728
3.67%
17,485
3.96%
14,446
4.64%
Total interest-earning assets
237,961
5.07%
194,144
5.05%
192,808
5.13%
Cash and due from banks
3,066
2,716
2,388
Other assets
27,210
18,425
17,714
Allowance for loan and lease losses
(2,686)
(2,264)
(2,352)
Total Assets
$265,551
$213,021
$210,558
Liabilities
Interest-bearing liabilities:
Interest checking deposits
$67,369
2.19%
$58,612
2.45%
$57,964
2.69%
Savings deposits
17,546
0.35%
16,103
0.40%
17,226
0.53%
Money market deposits
54,219
2.39%
39,409
2.39%
36,453
2.43%
CDs $250,000 or less
11,641
3.14%
10,541
3.43%
10,380
3.61%
Total interest-bearing core deposits
150,775
2.12%
124,665
2.25%
122,023
2.39%
CDs over $250,000
2,807
3.41%
1,948
3.94%
2,346
4.43%
Total interest-bearing deposits
153,582
2.15%
126,613
2.28%
124,369
2.42%
Federal funds purchased
178
3.66%
204
3.92%
194
4.38%
Securities sold under repurchase agreements
322
1.09%
365
1.46%
286
0.92%
FHLB advances
99
4.10%
2,552
4.47%
4,767
4.62%
Derivative collateral and other secured borrowings
83
7.49%
84
6.92%
84
6.46%
Long-term debt
18,062
4.93%
13,700
5.20%
14,585
5.38%
Total interest-bearing liabilities
172,326
2.44%
143,518
2.60%
144,285
2.80%
Demand deposits
55,770
41,771
39,788
Other liabilities
7,347
6,205
6,485
Total Liabilities
235,443
191,494
190,558
Total Equity
30,108
21,527
20,000
Total Liabilities and Equity
$265,551
$213,021
$210,558
Ratios:
Net interest margin (FTE)(b)
3.30%
3.13%
3.03%
Net interest rate spread (FTE)(b)
2.63%
2.45%
2.33%
Interest-bearing liabilities to interest-earning assets
72.42%
73.92%
74.83%
(a) Average Yield/Rate of these assets are presented on an FTE basis.
(b) Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.
Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millions
For the Three Months Ended
(unaudited)
March
December
September
June
March
2026
2025
2025
2025
2025
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans
$73,264
$53,947
$54,170
$54,075
$53,401
Commercial mortgage loans
21,969
12,079
12,027
12,410
12,368
Commercial construction loans
7,278
5,399
5,541
5,810
5,797
Commercial leases
3,347
3,172
3,177
3,120
3,110
Total commercial loans and leases
105,858
74,597
74,915
75,415
74,676
Consumer loans:
Residential mortgage loans
18,848
17,660
17,656
17,615
17,552
Home equity
6,064
4,769
4,579
4,383
4,222
Indirect secured consumer loans
18,105
17,879
17,729
17,248
16,476
Credit card
1,659
1,694
1,678
1,659
1,627
Solar energy installation loans
4,516
4,486
4,355
4,268
4,221
Other consumer loans
2,582
2,345
2,414
2,483
2,498
Total consumer loans
51,774
48,833
48,411
47,656
46,596
Total average portfolio loans and leases
$157,632
$123,430
$123,326
$123,071
$121,272
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale
$85
$19
$44
$45
$64
Consumer loans held for sale
566
698
623
541
428
Average loans and leases held for sale
$651
$717
$667
$586
$492
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans
$83,864
$52,749
$53,947
$53,312
$53,700
Commercial mortgage loans
27,143
12,228
11,932
12,112
12,357
Commercial construction loans
8,329
5,316
5,326
5,551
5,952
Commercial leases
3,523
3,269
3,218
3,177
3,128
Total commercial loans and leases
122,859
73,562
74,423
74,152
75,137
Consumer loans:
Residential mortgage loans
19,507
17,652
17,644
17,681
17,581
Home equity
6,735
4,846
4,678
4,485
4,265
Indirect secured consumer loans
18,296
17,964
17,885
17,591
16,804
Credit card
1,658
1,747
1,692
1,707
1,660
Solar energy installation loans
4,465
4,560
4,432
4,316
4,262
Other consumer loans
2,730
2,320
2,376
2,464
2,482
Total consumer loans
53,391
49,089
48,707
48,244
47,054
Total portfolio loans and leases
$176,250
$122,651
$123,130
$122,396
$122,191
End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale
$651
$75
$8
$74
$28
Consumer loans held for sale
714
658
568
572
445
Loans and leases held for sale
$1,365
$733
$576
$646
$473
Operating lease equipment
$416
$374
$379
$344
$314
Loans and Leases Serviced for Others(a)
Commercial and industrial loans
$1,801
$1,290
$1,206
$1,166
$1,104
Commercial mortgage loans
518
501
558
601
603
Commercial construction loans
318
291
304
333
367
Commercial leases
821
853
764
757
755
Residential mortgage loans
86,733
87,827
89,639
91,201
92,769
Solar energy installation loans
665
686
692
557
575
Other consumer loans
86
92
98
105
112
Total loans and leases serviced for others
90,942
91,540
93,261
94,720
96,285
Total loans and leases owned or serviced
$268,973
$215,298
$217,346
$218,106
$219,263
(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities.
Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millions
As of
(unaudited)
March
December
September
June
March
2026(a)
2025
2025
2025
2025
Regulatory Capital
CET1 capital
$24,157
$18,099
$17,645
$17,616
$17,239
Additional tier 1 capital
2,182
1,770
1,770
2,116
2,116
Tier 1 capital
26,339
19,869
19,415
19,732
19,355
Tier 2 capital
4,109
3,197
3,204
3,197
3,175
Total regulatory capital
$30,448
$23,066
$22,619
$22,929
$22,530
Risk-weighted assets
$242,458
$167,431
$166,999
$166,517
$165,326
Ratios
Average total Bancorp shareholders' equity as a percent of average assets
11.34%
10.11%
10.02%
9.82%
9.50%
Regulatory Capital Ratios
Fifth Third Bancorp
CET1 capital
9.96%
10.81%
10.57%
10.58%
10.43%
Tier 1 risk-based capital
10.86%
11.87%
11.63%
11.85%
11.71%
Total risk-based capital
12.56%
13.78%
13.54%
13.77%
13.63%
Leverage
10.20%
9.41%
9.24%
9.42%
9.23%
Fifth Third Bank, National Association
Tier 1 risk-based capital
11.84%
13.09%
12.95%
12.87%
12.78%
Total risk-based capital
13.08%
14.33%
14.19%
14.12%
14.02%
Leverage
11.13%
10.41%
10.31%
10.25%
10.10%
(a) Current period regulatory capital data and ratios are estimated.
Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millions
For the Three Months Ended
(unaudited)
March
December
September
June
March
2026
2025
2025
2025
2025
Average portfolio loans and leases:
Commercial and industrial loans
$73,264
$53,947
$54,170
$54,075
$53,401
Commercial mortgage loans
21,969
12,079
12,027
12,410
12,368
Commercial construction loans
7,278
5,399
5,541
5,810
5,797
Commercial leases
3,347
3,172
3,177
3,120
3,110
Total commercial loans and leases
105,858
74,597
74,915
75,415
74,676
Residential mortgage loans
18,848
17,660
17,656
17,615
17,552
Home equity
6,064
4,769
4,579
4,383
4,222
Indirect secured consumer loans
18,105
17,879
17,729
17,248
16,476
Credit card
1,659
1,694
1,678
1,659
1,627
Solar energy installation loans
4,516
4,486
4,355
4,268
4,221
Other consumer loans
2,582
2,345
2,414
2,483
2,498
Total consumer loans
51,774
48,833
48,411
47,656
46,596
Total average portfolio loans and leases
$157,632
$123,430
$123,326
$123,071
$121,272
Losses charged-off:
Commercial and industrial loans
($77)
($61)
($280)
($84)
($54)
Commercial mortgage loans
—
(7)
(2)
(4)
(11)
Commercial construction loans
—
—
—
—
—
Commercial leases
—
(1)
—
(2)
(2)
Total commercial loans and leases
(77)
(69)
(282)
(90)
(67)
Residential mortgage loans
—
—
—
—
—
Home equity
(2)
(2)
(1)
(2)
(2)
Indirect secured consumer loans
(40)
(41)
(34)
(33)
(36)
Credit card
(19)
(20)
(20)
(20)
(22)
Solar energy installation loans
(26)
(22)
(20)
(23)
(21)
Other consumer loans
(23)
(23)
(25)
(26)
(25)
Total consumer loans
(110)
(108)
(100)
(104)
(106)
Total losses charged-off
($187)
($177)
($382)
($194)
($173)
Recoveries of losses previously charged-off:
Commercial and industrial loans
$8
$17
$6
$15
$2
Commercial mortgage loans
—
1
1
1
1
Commercial construction loans
—
—
—
—
—
Commercial leases
—
—
—
3
—
Total commercial loans and leases
8
18
7
19
3
Residential mortgage loans
—
1
1
1
—
Home equity
2
1
2
2
2
Indirect secured consumer loans
16
14
16
17
15
Credit card
5
5
4
5
5
Solar energy installation loans
3
5
4
3
3
Other consumer loans
9
8
9
8
9
Total consumer loans
35
34
36
36
34
Total recoveries of losses previously charged-off
$43
$52
$43
$55
$37
Net losses charged-off:
Commercial and industrial loans
($69)
($44)
($274)
($69)
($52)
Commercial mortgage loans
—
(6)
(1)
(3)
(10)
Commercial construction loans
—
—
—
—
—
Commercial leases
—
(1)
—
1
(2)
Total commercial loans and leases
(69)
(51)
(275)
(71)
(64)
Residential mortgage loans
—
1
1
1
—
Home equity
—
(1)
1
—
—
Indirect secured consumer loans
(24)
(27)
(18)
(16)
(21)
Credit card
(14)
(15)
(16)
(15)
(17)
Solar energy installation loans
(23)
(17)
(16)
(20)
(18)
Other consumer loans
(14)
(15)
(16)
(18)
(16)
Total consumer loans
(75)
(74)
(64)
(68)
(72)
Total net losses charged-off(a)
($144)
($125)
($339)
($139)
($136)
Net losses charged-off as a percent of average portfolio loans and leases (annualized):
Commercial and industrial loans
0.38%
0.32%
2.01%
0.51%
0.39%
Commercial mortgage loans
—
0.21%
0.04%
0.11%
0.34%
Commercial construction loans
(0.02%)
—
—
—
—
Commercial leases
—
0.16%
(0.04%)
(0.10%)
0.29%
Total commercial loans and leases
0.26%
0.27%
1.46%
0.38%
0.35%
Residential mortgage loans
(0.01%)
(0.01%)
(0.02%)
(0.01%)
—
Home equity
0.01%
0.06%
(0.05%)
0.02%
0.04%
Indirect secured consumer loans
0.54%
0.59%
0.40%
0.37%
0.53%
Credit card
3.51%
3.62%
3.70%
3.74%
4.19%
Solar energy installation loans
2.03%
1.45%
1.47%
1.86%
1.73%
Other consumer loans
2.19%
2.46%
2.51%
2.49%
2.52%
Total consumer loans
0.58%
0.59%
0.52%
0.56%
0.63%
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.37%
0.40%
1.09%
0.45%
0.46%
(a) Excludes net charge-offs of $21 million which were taken immediately at the time of merger.
Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions
For the Three Months Ended
(unaudited)
March
December
September
June
March
2026
2025
2025
2025
2025
Allowance for Credit Losses
Allowance for loan and lease losses, beginning
$2,253
$2,265
$2,412
$2,384
$2,352
Total net losses charged-off(d)
(144)
(125)
(339)
(139)
(136)
Provision for loan and lease losses
152
113
192
167
168
Allowance on PCD loans and leases at acquisition
180
—
—
—
—
Allowance on PSLs at acquisition
481
—
—
—
—
Allowance for loan and lease losses, ending
$2,922
$2,253
$2,265
$2,412
$2,384
Reserve for unfunded commitments, beginning
$157
$151
$146
$140
$134
Provision for the reserve for unfunded commitments
75
6
5
6
6
Reserve for unfunded commitments, ending
$232
$157
$151
$146
$140
Components of allowance for credit losses:
Allowance for loan and lease losses
$2,922
$2,253
$2,265
$2,412
$2,384
Reserve for unfunded commitments
232
157
151
146
140
Total allowance for credit losses
$3,154
$2,410
$2,416
$2,558
$2,524
As of
March
December
September
June
March
2026
2025
2025
2025
2025
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans
$417
$393
$393
$460
$537
Commercial mortgage loans
94
34
42
48
70
Commercial construction loans
62
—
—
—
—
Commercial leases
—
—
—
—
16
Residential mortgage loans
164
149
142
143
145
Home equity
104
71
72
75
69
Indirect secured consumer loans
58
61
61
65
60
Credit card
30
29
29
29
31
Solar energy installation loans
26
22
22
26
30
Other consumer loans
5
8
7
7
8
Total nonaccrual portfolio loans and leases
960
767
768
853
966
Repossessed property
11
11
12
8
9
OREO
28
19
21
25
21
Total nonperforming portfolio loans and leases and OREO
999
797
801
886
996
Nonaccrual loans held for sale
141
70
4
27
21
Total nonperforming assets
$1,140
$867
$805
$913
$1,017
Loans and leases 90 days past due (accrual):
Commercial and industrial loans
$3
$2
$2
$5
$2
Commercial mortgage loans
19
—
—
3
6
Commercial construction loans
2
1
—
—
—
Commercial leases
1
—
—
—
—
Total commercial loans and leases
25
3
2
8
8
Residential mortgage loans(c)
7
10
11
8
8
Credit card
17
17
16
18
17
Total consumer loans
24
27
27
26
25
Total loans and leases 90 days past due (accrual)(b)
$49
$30
$29
$34
$33
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.37%
0.40%
1.09%
0.45%
0.46%
Allowance for credit losses:
As a percent of portfolio loans and leases
1.79%
1.96%
1.96%
2.09%
2.07%
As a percent of nonperforming portfolio loans and leases(a)
328%
314%
314%
300%
261%
As a percent of nonperforming portfolio assets(a)
316%
302%
302%
289%
253%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)
0.54%
0.62%
0.62%
0.70%
0.79%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)
0.57%
0.65%
0.65%
0.72%
0.81%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property
0.64%
0.70%
0.65%
0.74%
0.83%
(a) Excludes nonaccrual loans held for sale.
(b) Excludes loans held for sale.
(c) Excludes government guaranteed residential mortgage loans.
(d) Excludes net charge-offs of $21 million which were taken immediately at the time of merger.
Use of Non-GAAP Financial Measures
In addition to GAAP measures, management considers various non-GAAP measures when evaluating the performance of the business, including: “net interest income (FTE),” “interest income (FTE),” “net interest margin (FTE),” “net interest rate spread (FTE),” “income before income taxes (FTE),” “tangible net income available to common shareholders,” “average tangible common equity,” “return on average tangible common equity,” “tangible common equity (excluding AOCI),” “tangible common equity (including AOCI),” “tangible equity,” “tangible book value per share,” “tangible book value per share (excluding AOCI),” “adjusted noninterest income,” “noninterest income excluding certain items,” “adjusted noninterest expense,” “noninterest expense excluding certain items,” “pre-provision net revenue,” “adjusted efficiency ratio,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” “adjusted return on average tangible common equity, excluding accumulated other comprehensive income", “adjusted pre-provision net revenue,” “adjusted return on average assets,” “efficiency ratio (FTE),” “total revenue (FTE),” "adjusted total revenue," “noninterest income as a percent of total revenue”, and certain ratios derived from these measures. The Bancorp believes these non-GAAP measures provide useful information to investors because these are among the measures used by the Fifth Third management team to evaluate operating performance and to make day-to-day operating decisions.
The FTE basis adjusts for the tax-favored status of income from certain loans and securities held by the Bancorp that are not taxable for federal income tax purposes. The Bancorp believes this presentation to be the preferred industry measurement of net interest income and net interest margin as it provides a relevant comparison between taxable and non-taxable amounts.
The Bancorp believes tangible net income available to common shareholders, average tangible common equity, tangible common equity (excluding AOCI), tangible common equity (including AOCI), tangible equity, tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of the business without the impacts of intangible items, whether acquired or created internally, in a manner comparable to other companies in the industry who present similar measures.
The Bancorp believes noninterest income, noninterest expense, net interest income, net interest margin, pre-provision net revenue, efficiency ratio, adjusted total revenue, noninterest income as a percent of total revenue, return on average common equity, return on average tangible common equity, and return on average assets are important measures that adjust for significant, unusual, or large transactions that may occur in a reporting period which management does not consider indicative of ongoing financial performance and enhances comparability of results with prior periods.
The Bancorp believes noninterest income excluding certain items and noninterest expense excluding certain items are important measures that adjust for certain components that are prone to significant period-to-period changes in order to facilitate the explanation of variances in the noninterest income and noninterest expense line items.
Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding AOCI), in addition to capital ratios defined by U.S. banking agencies. These calculations are intended to complement the capital ratios defined by U.S. banking agencies for both absolute and comparative purposes. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be non-GAAP financial measures. Management believes that providing the tangible common equity ratio excluding AOCI on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of changes in AOCI, some of which are uncertain; providing the tangible common equity ratio including AOCI enables investors and others to assess the Bancorp’s use of equity if components of AOCI, such as unrealized gains or losses, were to be monetized.
Please note that although non-GAAP financial measures provide useful insight, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.
Please see reconciliations of all historical non-GAAP measures used in this release to the most directly comparable GAAP measures, beginning on the following page.
Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ and shares in millions
As of and For the Three Months Ended
(unaudited)
March
December
September
June
March
2026
2025
2025
2025
2025
Net interest income
$1,934
$1,529
$1,520
$1,495
$1,437
Add: Taxable equivalent adjustment
5
4
5
5
5
Net interest income (FTE) (a)
1,939
1,533
1,525
1,500
1,442
Net interest income (annualized) (b)
7,843
6,066
6,030
5,996
5,828
Net interest income (FTE) (annualized) (c)
7,864
6,082
6,050
6,016
5,848
Interest income
2,972
2,468
2,519
2,484
2,432
Add: Taxable equivalent adjustment
5
4
5
5
5
Interest income (FTE)
2,977
2,472
2,524
2,489
2,437
Interest income (FTE) (annualized) (d)
12,073
9,807
10,014
9,983
9,883
Interest expense (annualized) (e)
4,210
3,725
3,963
3,967
4,035
Average interest-earning assets (f)
237,961
194,144
193,500
192,682
192,808
Average interest-bearing liabilities (g)
172,326
143,518
143,096
142,913
144,285
Net interest margin (b) / (f)
3.30 %
3.12 %
3.12 %
3.11 %
3.02 %
Net interest margin (FTE) (c) / (f)
3.30 %
3.13 %
3.13 %
3.12 %
3.03 %
Net interest rate spread (FTE) (d) / (f) - (e) / (g)
2.63 %
2.45 %
2.41 %
2.40 %
2.33 %
Income before income taxes
$207
$912
$837
$808
$653
Add: Taxable equivalent adjustment
5
4
5
5
5
Income before income taxes (FTE)
212
916
842
813
658
Net income available to common shareholders
128
699
608
591
478
Add: Intangible amortization, net of tax
34
5
5
5
6
Tangible net income available to common shareholders (h)
162
704
613
596
484
Tangible net income available to common shareholders (annualized) (i)
657
2,793
2,432
2,391
1,963
Average Bancorp shareholders’ equity
30,108
21,527
21,216
20,670
20,000
Less:
Average preferred stock
(2,040)
(1,770)
(2,112)
(2,116)
(2,116)
Average goodwill
(8,686)
(4,947)
(4,937)
(4,918)
(4,918)
Average intangible assets
(841)
(72)
(77)
(79)
(86)
Average tangible common equity, including AOCI (j)
18,541
14,738
14,090
13,557
12,880
Less:
Average AOCI
3,080
3,137
3,520
3,935
4,362
Average tangible common equity, excluding AOCI (k)
21,621
17,875
17,610
17,492
17,242
Total Bancorp shareholders’ equity
34,106
21,724
21,107
21,124
20,403
Less:
Preferred stock
(2,182)
(1,770)
(1,770)
(2,116)
(2,116)
Goodwill
(9,966)
(4,947)
(4,947)
(4,918)
(4,918)
Intangible assets
(1,233)
(69)
(76)
(75)
(82)
Tangible common equity, including AOCI (l)
20,725
14,938
14,314
14,015
13,287
Less:
AOCI
3,234
3,110
3,276
3,546
3,895
Tangible common equity, excluding AOCI (m)
23,959
18,048
17,590
17,561
17,182
Add:
Preferred stock
2,182
1,770
1,770
2,116
2,116
Tangible equity (n)
26,141
19,818
19,360
19,677
19,298
Total assets
297,039
214,376
212,903
209,991
212,669
Less:
Goodwill
(9,966)
(4,947)
(4,947)
(4,918)
(4,918)
Intangible assets
(1,233)
(69)
(76)
(75)
(82)
Tangible assets, including AOCI (o)
285,840
209,360
207,880
204,998
207,669
Less:
AOCI, before tax
4,255
4,092
4,311
4,666
5,125
Tangible assets, excluding AOCI (p)
$290,095
$213,452
$212,191
$209,664
$212,794
Common shares outstanding (q)
906
661
661
668
667
Tangible equity (n) / (p)
9.01%
9.28%
9.12%
9.39%
9.07%
Tangible common equity (excluding AOCI) (m) / (p)
8.26%
8.46%
8.29%
8.38%
8.07%
Tangible common equity (including AOCI) (l) / (o)
7.25%
7.14%
6.89%
6.84%
6.40%
Tangible book value per share (including AOCI) (l) / (q)
$22.88
$22.60
$21.66
$20.98
$19.92
Tangible book value per share (excluding AOCI) (m) / (q)
$26.44
$27.30
$26.61
$26.29
$25.76
Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millions
For the Three Months Ended
(unaudited)
March
December
March
2026
2025
2025
Net income (r)
$165
$731
$515
Net income (annualized) (s)
669
2,900
2,089
Adjustments (pre-tax items)
Merger-related charges
657
13
—
Merger-related Day 1 ACL build
83
—
—
Securities (gains)/losses
12
5
9
Litigation settlements
—
(12)
—
FDIC special assessment
—
(25)
—
Fifth Third Foundation contribution
—
50
—
Interchange litigation matters
(8)
11
18
Non-qualified deferred compensation expense/(benefit)
(9)
(5)
(4)
Adjustments, pre-tax
735
37
23
Applicable income tax expense on adjustments
166
6
5
Adjustments, after-tax (t)(a)(b)
569
31
18
Adjustments (tax related items)
Benefit related to the resolution of certain tax matters
—
(7)
—
Adjustments (tax related items) (u)
—
(7)
—
Noninterest income (v)
895
811
694
Interchange litigation matters
(8)
8
18
Merger-related charges
22
—
—
Litigation settlements
—
(12)
—
Noninterest income excluding certain item(s)
909
807
712
Securities losses, net
12
5
9
Adjusted noninterest income, excluding certain items and securities losses (w)
921
812
721
Noninterest expense (x)
2,395
1,309
1,304
Interchange litigation matters
—
(3)
—
Merger-related charges
(635)
(13)
—
FDIC special assessment
—
25
—
Fifth Third Foundation contribution
—
(50)
—
Noninterest expense excluding certain item(s)
1,760
1,268
1,304
Non-qualified deferred compensation benefit
9
5
4
Adjusted noninterest expense, excluding certain items and non-qualified deferred compensation (y)
1,769
1,273
1,308
Adjusted net income (r) + (t) + (u)
734
755
533
Adjusted net income (annualized) (z)
2,977
2,995
2,162
Adjusted tangible net income available to common shareholders (h) + (t) + (u)
731
728
502
Adjusted tangible net income available to common shareholders (annualized) (aa)
2,965
2,888
2,036
Average assets (ab)
$265,551
$213,021
$210,558
Return on average tangible common equity (i) / (j)
3.5%
19.0%
15.2%
Return on average tangible common equity excluding AOCI (i) / (k)
3.0%
15.6%
11.4%
Adjusted return on average tangible common equity, including AOCI (aa) / (j)
16.0%
19.6%
15.8%
Adjusted return on average tangible common equity, excluding AOCI (aa) / (k)
13.7%
16.2%
11.8%
Return on average assets (s) / (ab)
0.25%
1.36%
0.99%
Adjusted return on average assets (z) / (ab)
1.12%
1.41%
1.03%
Efficiency ratio (FTE) (x) / [(a) + (v)]
84.5%
55.8%
61.0%
Adjusted efficiency ratio (y) / [(a) + (w)]
61.9%
54.3%
60.5%
Total revenue (FTE) (a) + (v)
$2,834
$2,344
$2,136
Adjusted total revenue (FTE) (a) + (w)
$2,860
$2,345
$2,163
Pre-provision net revenue (PPNR) (a) + (v) - (x)
$439
$1,035
$832
Adjusted pre-provision net revenue (PPNR) (a) + (w) - (y)
$1,091
$1,072
$855
Totals may not foot due to rounding.
(a) Assumes a 24% tax rate.
(b) A portion of the adjustments related to merger-related expenses are not tax-deductible.
Fifth Third Bancorp and Subsidiaries
Segment Presentation
$ in millions
(unaudited)
For the three months ended March 31, 2026
Commercial
Banking
Consumer and
Small Business
Banking
Wealth
and Asset
Management
General
Corporate
and Other
Total
Net interest income (FTE)(a)
$878
$1,073
$83
$(95)
$1,939
(Provision for) benefit from credit losses
(158)
(89)
—
20
(227)
Net interest income after (provision for) benefit from credit losses
720
984
83
(75)
1,712
Noninterest income
441
298
164
(8)
895
Noninterest expense
(734)
(810)
(183)
(668)
(2,395)
Income (loss) before income taxes (FTE)(a)
$427
$472
$64
$(751)
$212
For the three months ended December 31, 2025
Commercial
Banking
Consumer and
Small Business
Banking
Wealth
and Asset
Management
General
Corporate
and Other
Total
Net interest income (FTE)(a)
$581
$1,026
$52
$(126)
$1,533
(Provision for) benefit from credit losses
(46)
(84)
—
11
(119)
Net interest income after (provision for) benefit from credit losses
535
942
52
(115)
1,414
Noninterest income
386
311
111
3
811
Noninterest expense
(476)
(645)
(97)
(91)
(1,309)
Income (loss) before income taxes (FTE)(a)
$445
$608
$66
$(203)
$916
For the three months ended September 30, 2025
Commercial
Banking
Consumer and
Small Business
Banking
Wealth
and Asset
Management
General
Corporate
and Other
Total
Net interest income (FTE)(a)
$594
$1,082
$55
$(206)
$1,525
(Provision for) benefit from credit losses
(246)
(73)
—
122
(197)
Net interest income after (provision for) benefit from credit losses
348
1,009
55
(84)
1,328
Noninterest income
357
309
109
6
781
Noninterest expense
(454)
(653)
(93)
(67)
(1,267)
Income (loss) before income taxes (FTE)(a)
$251
$665
$71
$(145)
$842
For the three months ended June 30, 2025
Commercial
Banking
Consumer and
Small Business
Banking
Wealth
and Asset
Management
General
Corporate
and Other
Total
Net interest income (FTE)(a)
$595
$1,085
$57
$(237)
$1,500
(Provision for) benefit from credit losses
(79)
(84)
2
(12)
(173)
Net interest income after (provision for) benefit from credit losses
516
1,001
59
(249)
1,327
Noninterest income
321
293
101
35
750
Noninterest expense
(453)
(646)
(95)
(70)
(1,264)
Income (loss) before income taxes (FTE)(a)
$384
$648
$65
$(284)
$813
For the three months ended March 31, 2025
Commercial
Banking
Consumer and
Small Business
Banking
Wealth
and Asset
Management
General
Corporate
and Other
Total
Net interest income (FTE)(a)
$552
$975
$49
$(134)
$1,442
Provision for credit losses
(80)
(84)
—
(10)
(174)
Net interest income after provision for credit losses
472
891
49
(144)
1,268
Noninterest income
301
281
109
3
694
Noninterest expense
(511)
(650)
(106)
(37)
(1,304)
Income (loss) before income taxes (FTE)(a)
$262
$522
$52
$(178)
$658
(a) Includes taxable equivalent adjustments of $5 million for the three months ended March 31, 2026, $4 million for the three months ended December 31, 2025 and $5 million for the three months ended September 30, 2025, June 30, 2025 and March 31, 2025.
Category: Earnings
View source version on businesswire.com: https://www.businesswire.com/news/home/20260416053198/en/
Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693
Original: Fifth Third Bancorp Reports First Quarter 2026 Earnings