Fifth Third Bancorp发布2026年二季度业绩，调整后EPS小幅高于预期但缺乏足够超预期交易边际

Fifth Third Bancorp - Fifth Third Bancorp Reports Second Quarter 2026 Earnings
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Fifth Third Bancorp Reports Second Quarter 2026 Earnings
July 17, 2026
Organic momentum and integration progress advance the earnings power of the combined company
Reported EPS of $0.83; adjusted EPS
(a)
of $1.02 excludes $0.19 of certain items on page 2
CINCINNATI--(BUSINESS WIRE)--
Fifth Third Bancorp (NYSE: FITB):
Key Financial Data
Key Highlights
$ in millions for all balance sheet and income statement items
2Q26
1Q26
2Q25
Stability:
Strong credit performance. Net charge-offs
(b)
of 30 bps in 2Q26, the lowest level since 2Q23
Interest-bearing deposit costs decreased 2 bps sequentially to 2.13%
Tangible common equity
increased 43 bps year-over-year
Profitability:
Net interest margin
expanded 6 bps sequentially
Adjusted ROTCE
improved 100 bps and adjusted ROA
improved 9 bps year-over- year
Disciplined expense management; adjusted efficiency ratio
of 57.1% improved 480 bps sequentially
Growth:
Delivered $2.5 billion of consumer deposits from the Comerica Southwest marketing campaign
Newline deposits up $2.1 billion and fee revenues up 35% year-over-year
Legacy Fifth Third consumer household growth of 3%, including 7% in the Southeast
Income Statement Data
Net income available to common shareholders
$763
$128
$591
Net interest income (U.S. GAAP)
2,215
1,934
1,495
Net interest income (FTE)
2,220
1,939
1,500
Noninterest income
1,059
895
750
Noninterest expense
2,109
2,395
1,264
Per Share Data
Earnings per share, basic
$0.84
$0.16
$0.88
Earnings per share, diluted
0.83
0.15
0.88
Book value per share
35.56
35.24
28.47
Tangible book value per share
23.15
22.88
20.98
Balance Sheet & Credit Quality
Average portfolio loans and leases
$177,572
$157,632
$123,071
Average deposits
231,506
209,352
163,575
Accumulated other comprehensive loss
(3,345
)
(3,234
(3,546
Net charge-off ratio
0.30
%
0.37
0.45
Nonperforming asset ratio
(c)
0.60
0.57
0.72
Financial Ratios
Return on average assets
1.08
0.25
1.20
Return on average common equity
9.5
1.8
12.8
Return on average tangible common equity
15.6
3.5
17.6
CET1 capital
(d)
9.93
9.89
10.58
3.36
3.30
3.12
Efficiency
64.3
84.5
56.2
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:
Fifth Third's second quarter was another step toward the earnings power we committed to deliver by year-end. Our core business continues to grow, with momentum across our fee businesses, led by wealth and asset management, commercial payments, and capital markets. The results were higher returns and tangible book value per share growth. Our balance sheet is well-positioned, supporting net interest margin expansion and improved credit performance.
The Comerica integration remains on track. Systems conversion is scheduled for Labor Day weekend and is the final step to unlocking the full run-rate of our expected cost synergies. Revenue synergies are emerging across our expanded footprint. Our deposit campaigns in the Comerica Southwest markets delivered results above our internal targets, and end-of-period commercial loan growth was broad-based across legacy geographies and specialty verticals.
Our capital generation supports both reinvestment in the business and consistent returns to shareholders. Investments in deposits, payments, technology, and high-growth markets are increasingly visible in our results. We are building a Fifth Third that is not just larger, but is better and more resilient. We will continue to be guided by our operating priorities of stability, profitability, and growth – in that order.
Income Statement Highlights
($ in millions, except per share data)
For the Three Months Ended
% Change
June
March
2026
2025
Seq
Yr/Yr
Condensed Statements of Income
Net interest income (NII)
$2,220
$1,939
$1,500
14%
48%
Provision for credit losses
129
227
173
(43)%
(25)%
18%
41%
(12)%
67%
Income before income taxes
$1,041
$212
$813
391%
28%
Taxable equivalent adjustment
$5
—
Applicable income tax expense
235
42
180
460%
31%
Net income
$801
$165
$628
385%
Dividends on preferred stock
38
37
3%
496%
29%
$0.83
$0.15
453%
(6)%
Fifth Third Bancorp (NYSE: FITB) today reported second quarter 2026 net income available to common shareholders of $763 million, or $0.83 per diluted share, compared to $128 million, or $0.15 per diluted share, in the prior quarter and $591 million, or $0.88 per diluted share, in the year-ago quarter.
The second quarter of 2026 marked an important milestone for Fifth Third, surpassing $300 billion in total assets and formally becoming a Category III institution. Fifth Third has been preparing for a Category III transition over multiple years through sustained investments in risk, capital, liquidity, and regulatory reporting and is well-positioned to meet all Category III requirements on or before required dates.
Diluted earnings per share impact of certain item(s) - 2Q26
(after-tax impact; $ in millions, except per share data)
Merger-related charges
(e)
1,2
$(155)
Securities repositioning losses
(8)
Technology-related asset impairments
(5)
Severance expense
Interchange litigation matters
(e)3
(2)
After-tax impact
of certain item(s)
$(175)
Diluted earnings per share impact of certain item(s)
4
$(0.19)
Totals may not foot due to rounding;
1
A portion of the adjustments related to merger-related expenses are not tax-deductible;
2
Pre-tax merger-related charges increased noninterest expense by $203 million;
3
Interchange litigation matters increased noninterest expense by $1 million and decreased noninterest income by $1 million;
Diluted earnings per share impact reflects 915.959 million average diluted shares outstanding
Net Interest Income
(FTE; $ in millions)
Interest Income
Interest income
$3,377
$2,977
$2,489
13
36
Interest expense
1,157
1,038
989
11
17
14
48
Average Yield/Rate Analysis
bps Change
Yield on interest-earning assets
5.11%
5.07%
5.18%
(7
Rate paid on interest-bearing liabilities
2.44%
2.78%
(34
Ratios
Net interest rate spread
2.67%
2.63%
2.40%
27
Net interest margin (NIM)
3.36%
3.30%
3.12%
6
24
Net interest income (FTE) of $2.220 billion increased 14% sequentially and 48% year-over-year. Both increases primarily reflect the addition of Comerica for a full-quarter. Organic loan production, continued fixed-rate asset repricing, and disciplined liability management also contributed to this growth. Net interest margin expanded 6 bps sequentially to 3.36% due to merger impacts, higher earning asset yields, and improved deposit pricing. Consumer deposits grew $4.6 billion as we continue to re-mix toward a more granular deposit base, which contributed to the 2 bps decrease in interest-bearing deposit costs.
Noninterest Income
($ in millions)
Wealth and asset management revenue
$256
$233
$166
10%
54%
Commercial payments revenue
254
218
152
17%
Consumer banking revenue
161
146
147
Capital markets fees
154
134
90
15%
71%
Commercial banking revenue
125
105
79
19%
58%
Mortgage banking net revenue
39
44
56
(11)%
(30)%
Other noninterest income
50
85%
Securities gains/(losses), net
20
(12)
16
NM
25%
Total noninterest income
$1,059
$895
$750
Noninterest income of $1.059 billion increased $164 million, or 18% sequentially and $309 million, or 41%, year-over-year. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate the mark-to-market impacts from securities tied to non-qualified deferred compensation plans, which are offset in noninterest expense. Securities repositioning losses of approximately $10 million reflect active portfolio management resulting in opportunistically repositioning $4 billion of notional short-duration securities to accelerate cash flow reinvestment, enhance net interest income and reduce down-rate risk sensitivity.
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)
22
10
Other securities (gains)/losses, net
(30)
12
(16)
Noninterest income excluding certain items
$1,040
$921
$735
13%
Noninterest income excluding certain items of $1.040 billion increased $119 million, or 13%, compared to the prior quarter and increased $305 million, or 41%, from the year-ago quarter.
Growth was driven by the full-quarter contribution from Comerica and momentum across our fee businesses. Wealth and asset management revenue of $256 million benefited from higher personal asset management revenue, 8% sequential assets under management growth, and favorable market performance, partially offset by the seasonal decline in tax‑related revenue from first-quarter highs. Commercial payments revenue of $254 million reflected continued strength in core treasury services and Newline. Capital markets fees of $154 million were led by client financial risk management and loan syndication activity. Commercial banking revenue of $125 million was driven by higher commercial lending-related activity and mortgage banking net revenue of $39 million declined on lower gains on loan sales.
Noninterest Expense
Compensation and benefits
$1,129
$1,410
$698
(20)%
62%
Technology and communications
250
204
126
23%
98%
Net occupancy expense
140
83
86%
Card and processing expense
66
(16)%
200%
Equipment expense
60
55
41
9%
46%
Loan and lease expense
53
26%
47%
Marketing expense
65
43
30%
51%
Other noninterest expense
332
415
215
Total noninterest expense
$2,109
$2,395
$1,264
Noninterest expense of $2.109 billion decreased 12% from the prior quarter and increased 67% from the year-ago quarter. The reported results reflect the impact of certain items in the table below.
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)
(203)
(635)
(7)
(15)
(1)
Noninterest expense excluding certain item(s)
$1,891
$1,760
$1,249
7%
Non-qualified deferred compensation (expense)/benefit
9
Noninterest expense excluding certain item(s) and non-qualified deferred compensation
$1,861
$1,769
$1,233
5%
Noninterest expense excluding certain items and non-qualified deferred compensation of $1.861 billion increased 5% sequentially and 51% year-over-year. Sequential growth reflected the full-quarter contribution from Comerica, higher technology and communications expense tied to integration activity, and elevated marketing spend supporting the Comerica deposit campaign, partially offset by lower compensation and benefits.
Year-to-date merger-related charges represent approximately 65% of the expected full-year total, consistent with our integration timeline.
Average Interest-Earning Assets
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans
$84,967
$73,264
$54,075
16%
57%
Commercial mortgage loans
27,176
21,969
12,410
24%
119%
Commercial construction loans
8,437
7,278
5,810
45%
Commercial leases
3,503
3,347
3,120
12%
Total commercial loans and leases
$124,083
$105,858
$75,415
65%
Consumer loans:
Residential mortgage loans
$19,626
$18,848
$17,615
4%
11%
Home equity
6,830
6,064
4,383
56%
Indirect secured consumer loans
18,239
18,105
17,248
1%
6%
Credit card
1,646
1,659
(1)%
Solar energy installation loans
4,384
4,516
4,268
(3)%
Other consumer loans
2,764
2,582
2,483
Total consumer loans
$53,489
$51,774
$47,656
Total average portfolio loans and leases
44%
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale
$399
$85
$45
369%
787%
Consumer loans held for sale
736
566
541
36%
Total average loans and leases held for sale
$1,135
$651
$586
74%
94%
Total average loans and leases
$178,707
$158,283
$123,657
Securities (taxable and tax-exempt)
$67,924
$59,950
$56,243
21%
Other short-term investments
18,358
19,728
12,782
(7)%
Total average interest-earning assets
$264,989
$237,961
$192,682
38%
Total average portfolio loans and leases of $178 billion increased 13% sequentially and 44% year-over-year. Growth in both periods reflected the full-quarter contribution from Comerica, as well as underlying commercial loan momentum.
Within the total, average commercial portfolio loans and leases of $124 billion grew 17% sequentially and 65% year-over-year, while average consumer portfolio loans of $53 billion grew 3% sequentially and 12% year-over-year, primarily reflecting growth in residential mortgage and home equity balances.
Average securities (taxable and tax-exempt; amortized cost) of $68 billion increased 13% sequentially and 21% year-over-year, reflecting the addition of Comerica's securities portfolio and ongoing reinvestment activity. Average other short-term investments (including interest-bearing cash) of $18 billion decreased 7% sequentially and increased 44% year-over-year. The sequential decline primarily reflected the continued repositioning of the Comerica securities portfolio, seasonal deposit trends and loan growth.
End of Period Interest-Earning Assets
As of
End of Period Portfolio Loans and Leases
$124,880
$122,859
$74,152
2%
68%
53,648
53,391
48,244
Total portfolio loans and leases
$178,528
$176,250
$122,396
End of Period Loans and Leases Held for Sale
Total loans and leases held for sale
$866
$1,365
$646
(37)%
34%
Total loans and leases
$179,394
$177,615
$123,042
$68,332
$67,823
$55,109
19,350
17,456
13,043
Total interest-earning assets
$267,076
$262,894
$191,194
40%
Period-end commercial portfolio loans and leases of $125 billion increased 2% sequentially and 68% year-over-year. Sequential growth was led by C&I, reflecting strong origination activity across corporate banking and middle market, partially offset by elevated payoffs.
Period-end consumer portfolio loans of $54 billion were flat sequentially and increased 11% year-over-year. Sequentially, continued momentum in home equity and growth in residential mortgage were offset by declines in indirect secured consumer and solar energy installation balances.
Total period-end securities (taxable and tax-exempt; amortized cost) of $68 billion increased 1% sequentially and 24% year-over-year. Period-end other short-term investments of $19 billion increased 11% sequentially and increased 48% year-over-year. The sequential increase primarily reflects the reversal of seasonal deposit trends experienced earlier in the quarter.
Average Deposits
Demand
$63,976
$55,770
$40,885
Interest checking
70,507
67,369
56,738
Savings
18,430
17,546
16,962
Money market
63,200
54,219
36,296
Total transaction deposits
$216,113
$194,904
$150,881
43%
CDs $250,000 or less
12,403
11,641
10,494
Total core deposits
$228,516
$206,545
$161,375
42%
CDs over $250,000
2,990
2,807
2,200
Total average deposits
$231,506
$209,352
$163,575
CDs over $250,000 includes $0.1BN, $0.4BN, and $1.1BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/26, 3/31/26, and 6/30/25, respectively.
Total average deposits of $232 billion increased 11% sequentially and 42% year-over-year. Period-end total deposits of $234 billion were flat sequentially and up 43% year-over-year.
Period-end consumer deposits grew $4.6 billion in the quarter, supported by outperformance from the Comerica retail deposit campaign, and were largely offset by the intentional reduction of higher-cost, non-relationship commercial deposits. This mix shift is consistent with the strategy to increase granular consumer deposits.
The period-end portfolio loan-to-core deposit ratio was 77%, compared to 76% in both the prior and year-ago quarters, reflecting balanced growth in loans and deposits.
Average Wholesale Funding
$2,990
$2,807
$2,200
Federal funds purchased
160
178
206
(10)%
(22)%
Securities sold under repurchase agreements
444
322
353
FHLB advances
3,437
99
4,976
(31)%
Derivative collateral and other secured borrowings
64
89
(23)%
(28)%
Long-term debt
18,817
18,062
14,599
Total average wholesale funding
$25,912
$21,551
$22,423
20%
Average wholesale funding of $26 billion increased 20% sequentially, driven primarily by a $3.3 billion increase in short-term FHLB advances used to bridge the seasonal trough in commercial deposit balances.
Compared to the year-ago quarter, average wholesale funding increased 16%, driven by a $4.2 billion increase in long-term debt associated with the Comerica acquisition, partially offset by a $1.5 billion decline in FHLB advances as strong deposit growth reduced the reliance on wholesale funding.
Credit Quality Summary
As of and For the Three Months Ended
December
September
Total nonaccrual portfolio loans and leases (NPLs)
$960
$767
$768
$853
Repossessed property
8
OREO
28
19
21
25
Total nonperforming portfolio loans and leases and OREO (NPAs)
$1,075
$999
$797
$886
NPL ratio
(f)
0.58%
0.54%
0.62%
0.70%
NPA ratio
0.60%
0.57%
0.65%
0.72%
Portfolio loans and leases 30-89 days past due (accrual)
$561
$683
$360
$348
$277
Portfolio loans and leases 90 days past due (accrual)
33
49
30
29
34
30-89 days past due as a % of portfolio loans and leases
0.31%
0.39%
0.29%
0.28%
0.23%
90 days past due as a % of portfolio loans and leases
0.02%
0.03%
Allowance for loan and lease losses (ALLL), beginning
$2,922
$2,253
$2,265
$2,412
$2,384
Total net losses charged-off
(135)
(144)
(125)
(339)
(139)
Provision for loan and lease losses
131
113
192
167
Allowance on PCD loans and leases at acquisition
Allowance on PSLs at acquisition
481
ALLL, ending
$2,918
Reserve for unfunded commitments, beginning
$232
$157
$151
$146
$140
(Benefit from) provision for the reserve for unfunded commitments
75
5
Reserve for unfunded commitments, ending
$230
Total allowance for credit losses (ACL)
$3,148
$3,154
$2,410
$2,416
$2,558
ACL ratios:
As a % of portfolio loans and leases
1.76%
1.79%
1.96%
2.09%
As a % of nonperforming portfolio loans and leases
303%
328%
314%
300%
As a % of nonperforming portfolio assets
293%
316%
302%
289%
ALLL as a % of portfolio loans and leases
1.63%
1.66%
1.84%
1.97%
Total losses charged-off
$(181)
$(187)
$(177)
$(382)
$(194)
Total recoveries of losses previously charged-off
46
52
$(135)
$(144)
$(125)
$(339)
$(139)
Net charge-off ratio (NCO ratio)
(b)1
0.30%
0.37%
0.40%
1.09%
0.45%
Commercial NCO ratio
0.21%
0.26%
0.27%
1.46%
0.38%
Consumer NCO ratio
0.53%
0.59%
0.52%
0.56%
Excludes net charge-offs of $111 million which were taken immediately at the time of acquisition.
The provision for credit losses totaled $129 million in the current quarter, down from $227 million in the prior quarter, which included an $83 million Day 1 allowance build associated with the Comerica acquisition. The ACL ratio was 1.76% of total portfolio loans and leases at quarter end, down 3 bps sequentially and 33 bps year-over-year, primarily reflecting the addition of Comerica's portfolio mix and continued strong credit performance. The ACL coverage ratio remained strong at 303% of nonperforming portfolio loans and leases and 293% of nonperforming portfolio assets.
Net charge-offs totaled $135 million, and the NCO ratio improved 7 bps sequentially to 0.30%, the lowest level since the second quarter of 2023. Commercial net charge-offs of $64 million represented a commercial NCO ratio of 0.21%, down 5 bps sequentially, while consumer net charge-offs of $71 million equated to a consumer NCO ratio of 0.53%, also down 5 bps from the prior quarter.
Compared to the year-ago quarter, the NCO ratio improved 15 bps, with the commercial NCO ratio down 17 bps and the consumer NCO ratio down 3 bps.
Nonperforming portfolio loans and leases totaled $1.041 billion, representing an NPL ratio of 0.58%, compared to 0.54% in the prior quarter and 0.70% in the year-ago quarter. Nonperforming portfolio assets totaled $1.075 billion, an NPA ratio of 0.60%, compared to 0.57% in the prior quarter and 0.72% in the year-ago quarter. The sequential increase reflected modest growth in consumer and commercial NPAs.
Capital Position
Average total Bancorp shareholders' equity as a % of average assets
11.50%
11.34%
10.11%
10.02%
9.82%
Tangible equity
9.04%
9.01%
9.28%
9.12%
9.39%
Tangible common equity (excluding AOCI)
8.30%
8.26%
8.46%
8.29%
8.38%
Tangible common equity (including AOCI)
7.27%
7.25%
7.14%
6.89%
6.84%
Regulatory Capital Ratios
9.93%
9.89%
10.81%
10.57%
10.58%
Tier 1 risk-based capital
10.79%
11.87%
11.63%
11.85%
Total risk-based capital
12.50%
13.78%
13.54%
13.77%
Leverage
9.20%
10.22%
9.41%
9.24%
9.42%
Fifth Third maintained a strong capital position. CET1 capital ratio increased 4 bps sequentially to 9.93%, as stronger capital generation was partially offset by risk-weighted asset growth. The year-to-date decrease in CET1 reflects the capital impacts from the Comerica acquisition and $933 million of pre-tax merger related impacts. There was no share repurchase activity in the first half of 2026.
Tax Rate
The effective tax rate for the quarter was 22.7% compared with 20.1% in the prior quarter and 22.2% 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 to be the one 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 New York Stock Exchange under the symbol "FITB." Investor information and press releases can be viewed at
. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
Earnings Release End Notes
Non-GAAP measure; see discussion of non-GAAP reconciliation beginning on page 27.
Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis.
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO.
Current period regulatory capital ratios are estimated.
Assumes a 24% tax rate.
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 June 30, 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
Average Balance Sheets and Yield/Rate Analysis
21-22
Summary of Loans and Leases
23
Regulatory Capital
Summary of Credit Loss Experience
Asset Quality
26
Non-GAAP Reconciliation
27-29
Segment Presentation
Fifth Third Bancorp and Subsidiaries
As of and For the
Three Months Ended
% / bps
$ in millions, except per share data
Change
Year to Date
(unaudited)
Net interest income
$2,215
$1,934
$1,495
$4,149
$2,932
4,159
2,942
1,954
1,444
35%
Total revenue (FTE)
3,279
2,834
2,250
6,113
4,386
39%
(43%)
(25%)
356
347
(12%)
4,504
2,568
75%
801
165
628
966
1,142
(15%)
763
128
591
891
1,069
(17%)
Earnings Per Share Data
Net income allocated to common shareholders
$891
$1,069
Average common shares outstanding (in thousands):
Basic
911,613
825,119
670,787
868,605
670,919
Diluted
915,959
830,274
674,034
873,353
675,032
425%
(5%)
$1.03
$1.59
(35%)
(6%)
1.02
1.58
Common Share Data
Cash dividends per common share
$0.40
$0.37
8%
$0.80
$0.74
Market value per share
56.37
46.46
41.13
37%
Common shares outstanding (in thousands)
906,573
905,823
667,710
Market capitalization
$51,103
$42,085
$27,463
1.08%
0.25%
1.20%
0.69%
(40)
9.5%
1.8%
12.8%
770
(330)
6.0%
11.8%
(580)
15.6%
3.5%
17.6%
(200)
10.0%
16.5%
(650)
Noninterest income as a percent of total revenue
32%
33%
(100)
Dividend payout
47.6%
250.0%
42.0%
77.7%
46.5%
Average total Bancorp shareholders’ equity as a percent of average assets
168
11.42%
9.66%
176
Net interest margin (FTE)
3.33%
3.08%
Efficiency (FTE)
64.3%
84.5%
56.2%
810
73.7%
58.6%
Effective tax rate
22.7%
20.1%
22.2%
260
22.3%
21.8%
Credit Quality
Net losses charged-off
(h)
$135
$144
$139
(3%)
$279
$276
Net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.33%
ALLL as a percent of portfolio loans and leases
(3)
(34)
ACL as a percent of portfolio loans and leases
(33)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO
Average Balances
Loans and leases, including held for sale
$168,552
$122,716
Securities and other short-term investments
86,282
79,678
69,025
82,998
70,029
Assets
297,947
265,551
210,554
281,839
210,556
Transaction deposits
216,113
194,904
150,881
205,567
151,153
Core deposits
228,516
206,545
161,375
217,591
161,591
Wholesale funding
25,912
21,551
22,423
23,744
22,343
Bancorp shareholders' equity
34,260
30,108
20,670
66%
32,195
20,337
(65)
(104)
(127)
(102)
(22)
Additional Metrics
Banking centers
1,489
1,089
ATMs
2,648
2,643
2,170
22%
Full-time equivalent employees
25,196
25,980
18,690
Assets under care ($ in billions)
(g)
$902
$865
$657
Assets under management ($ in billions)
119
73
Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.
Includes demand, interest checking, savings and money market deposits..
Includes transaction deposits plus CDs $250,000 or less.
Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.
Current period regulatory capital ratios are estimates.
The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.
Assets under management and assets under care include trust and brokerage assets.
$1,529
$1,520
1,533
1,525
811
781
2,344
2,306
197
1,309
1,267
731
649
699
608
$699
$608
664,384
666,427
669,153
670,878
$1.05
$0.91
1.04
0.91
30.18
29.26
46.81
44.55
661,198
660,973
$30,951
$29,446
1.36%
1.21%
14.0%
12.6%
19.0%
17.3%
38.1%
44.0%
3.13%
55.8%
54.9%
19.8%
22.6%
$125
$339
$124,147
$123,993
69,997
69,507
213,021
211,770
155,895
151,669
166,436
162,510
18,853
21,821
Bancorp shareholders’ equity
21,527
21,216
1,130
1,102
2,199
2,184
18,676
18,476
$690
$681
80
77
Includes demand, interest checking, savings and money market deposits.
$ in millions
Interest and fees on loans and leases
$2,607
$2,293
$1,881
$4,900
$3,696
Interest on securities
598
501
458
1,099
910
Interest on other short-term investments
145
345
311
Total interest income
3,372
2,972
2,484
6,344
4,917
Interest Expense
Interest on deposits
813
732
1,705
1,476
Interest on short-term borrowings
61
660%
(38%)
(64%)
Interest on long-term debt
228
220
196
447
390
Total interest expense
2,195
1,985
4,149
2,932
Net Interest Income After Provision for Credit Losses
2,086
1,707
1,322
3,793
2,585
256
233
166
489
338
472
305
55%
307
284
287
179
60%
230
(11%)
(30%)
(27%)
78
58
Securities gains (losses), net
7
1,129
1,410
698
(20%)
2,539
1,447
453
81%
295
171
73%
(16%)
144
235%
115
82
95
114
71
61%
749
438
Income Before Income Taxes
1,036
207
808
400%
1,243
1,461
277
319
(13%)
Net Income
Net Income Available to Common Shareholders
$1,862
$1,909
431
175
2,468
2,519
726
188
939
999
1,529
1,520
1,323
185
181
157
143
121
102
87
683
685
138
251
226
912
837
32
Cash and due from banks
$4,374
$4,084
$2,972
Available-for-sale debt and other securities
44,466
46,161
38,270
(4%)
Held-to-maturity securities
18,404
16,389
11,630
Trading debt securities
1,853
1,669
1,324
Equity securities
495
544
404
(9%)
Loans and leases held for sale
866
1,365
646
(37%)
Portfolio loans and leases:
85,736
83,864
53,312
27,196
27,143
12,112
125%
8,459
8,329
5,551
52%
3,489
3,523
3,177
(1%)
124,880
122,859
74,152
19,713
19,507
17,681
6,929
6,735
4,485
18,186
18,296
17,591
1,683
1,658
4,314
4,465
4,316
2,823
2,730
2,464
Portfolio loans and leases
178,528
176,250
122,396
Allowance for loan and lease losses
(2,918)
(2,922)
(2,412)
Portfolio loans and leases, net
175,610
173,328
119,984
Bank premises and equipment
3,343
3,283
2,560
Goodwill
9,990
9,966
4,918
103%
Intangible assets
1,253
1,233
Servicing rights
1,607
1,583
1,629
Other assets
18,511
19,978
12,536
(7%)
Total Assets
$300,122
$297,039
$209,991
Liabilities
Deposits:
$63,928
$65,335
$42,174
(2%)
70,527
72,425
55,524
27%
18,161
18,610
16,614
65,932
62,345
36,586
80%
12,708
11,807
10,883
2,885
3,099
2,426
Total deposits
234,141
233,621
164,207
Short-term borrowings
4,633
1,289
3,571
259%
Accrued taxes, interest and expenses
3,024
2,628
1,970
Other liabilities
6,265
6,642
4,627
17,636
18,753
14,492
Total Liabilities
265,699
262,933
188,867
Equity
Common stock
2,051
Preferred stock
2,182
2,116
Capital surplus
15,603
15,586
3,794
311%
Retained earnings
25,645
25,248
24,718
(3,345)
(3,234)
(3,546)
Treasury stock
(8,247)
(8,261)
(8,009)
Total Equity
34,423
34,106
21,124
63%
Total Liabilities and Equity
(a) Amortized cost
$47,623
$49,238
$41,731
(b) Market values
18,259
16,341
11,547
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized
2,000,000
Outstanding, excluding treasury
Treasury
257,666
258,416
256,183
$3,499
$2,901
18,876
17,215
36,159
36,461
11,368
11,498
1,057
1,266
733
576
52,749
53,947
12,228
11,932
5,316
5,326
3,269
3,218
73,562
74,423
17,652
17,644
4,846
4,678
17,964
17,885
1,747
1,692
4,560
4,432
2,320
2,376
49,089
48,707
122,651
123,130
(2,253)
(2,265)
120,398
120,865
2,734
2,655
4,947
69
76
1,598
1,601
12,485
12,555
$214,376
$212,903
$42,647
$41,830
61,155
57,239
16,155
16,110
39,285
38,748
10,599
10,667
1,978
1,975
171,819
166,569
926
5,260
2,083
1,943
4,235
4,347
13,589
13,677
192,652
191,796
1,770
3,831
3,813
25,488
25,057
(3,110)
(3,276)
(8,306)
(8,308)
21,724
21,107
$39,107
$39,617
11,404
11,506
262,695
262,919
Total Equity, Beginning
$34,106
$20,403
$21,724
$19,645
Other comprehensive (loss) income, net of tax:
Change in unrealized (losses) gains:
Available-for-sale debt securities
(62)
(162)
660
Qualifying cash flow hedges
(74)
148
(120)
383
Amortization of unrealized losses on securities transferred to held-to-maturity
47
Change in accumulated other comprehensive income related to employee benefit plans
Comprehensive income
690
977
2,232
Cash dividends declared:
(366)
(250)
(734)
(501)
(38)
(37)
(75)
(73)
Impact of Comerica acquisition
12,676
Impact of stock transactions under stock compensation plans, net
31
Shares acquired for treasury
(226)
Other
Total Equity, Ending
$34,423
$21,124
Average
Balance
Yield/Rate
Interest-earning assets:
Loans and leases:
$85,260
5.90%
$73,302
5.89%
$54,109
6.28%
27,215
5.82%
22,005
5.85%
12,420
6.12%
8,504
6.50%
7,287
6.45%
7.17%
4.61%
4.86%
3,121
4.83%
124,482
105,941
75,460
6.26%
20,362
4.16%
19,414
4.18%
18,156
3.98%
6.95%
6,065
7.02%
7.42%
5.53%
5.54%
5.63%
13.69%
13.94%
14.33%
7.93%
8.17%
8.10%
8.66%
2,583
8.77%
9.09%
54,225
5.80%
52,342
5.86%
48,197
5.87%
178,707
158,283
5.88%
123,657
6.11%
Securities:
Taxable securities
66,532
3.55%
58,587
3.41%
54,896
3.29%
Tax exempt securities
1,392
3.25%
1,363
3.26%
1,347
3.19%
3.64%
3.67%
4.56%
264,989
237,961
192,682
3,307
3,066
2,437
32,573
27,210
17,819
(2,686)
(2,384)
$297,947
$265,551
$210,554
Interest-bearing liabilities:
Interest checking deposits
$70,507
2.15%
$67,369
2.19%
$56,738
2.69%
Savings deposits
0.35%
0.48%
Money market deposits
2.43%
2.39%
2.94%
3.14%
3.52%
Total interest-bearing core deposits
164,540
2.11%
150,775
2.12%
120,490
2.36%
4.07%
Total interest-bearing deposits
167,530
2.13%
153,582
122,690
3.65%
3.66%
4.39%
1.69%
1.16%
3.88%
4.10%
4.59%
7.49%
5.61%
4.87%
4.93%
5.36%
Total interest-bearing liabilities
190,452
172,326
142,913
Demand deposits
63,976
55,770
40,885
9,259
7,347
6,086
263,687
235,443
189,884
Ratios:
Net interest rate spread (FTE)
Interest-bearing liabilities to interest-earning assets
71.87%
72.42%
74.17%
(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 27.
$79,315
$53,772
6.25%
24,625
5.83%
12,404
6.05%
7,899
6.48%
5,812
7.05%
3,426
4.73%
3,115
4.81%
115,265
75,103
6.22%
19,891
4.17%
18,068
3.97%
6,449
6.98%
4,303
18,172
16,864
5.60%
1,652
13.82%
1,643
14.54%
4,449
8.05%
4,245
8.06%
2,674
8.71%
2,490
9.23%
53,287
47,613
168,552
122,716
6.08%
62,581
3.49%
55,050
3.27%
1,378
1,370
19,039
13,609
4.60%
251,550
5.09%
192,745
5.15%
3,187
2,413
29,906
17,766
(2,804)
(2,368)
$281,839
$210,556
$68,946
2.17%
$57,346
17,990
17,094
0.51%
58,735
2.41%
36,374
12,024
3.04%
10,438
3.53%
157,695
121,252
2.37%
2,899
3.32%
2,273
4.26%
160,594
2.14%
123,525
169
200
4.38%
384
1.44%
320
1.05%
1,777
3.89%
4,872
7.38%
86
6.02%
18,442
4.90%
14,592
5.37%
181,439
143,595
2.79%
59,896
40,339
8,309
6,285
249,644
190,219
2.65%
72.13%
74.50%
$53,947
$54,170
12,079
12,027
5,399
5,541
3,172
124,083
105,858
74,597
74,915
75,415
19,626
18,848
17,660
17,656
17,615
4,769
4,579
17,879
17,729
1,694
1,678
4,486
4,355
2,345
2,414
53,489
51,774
48,833
48,411
47,656
$123,430
$123,326
$19
$44
623
Average loans and leases held for sale
$717
$667
$85,736
$83,864
$52,749
$53,312
$122,651
$123,130
$171
$75
$8
$74
695
714
658
568
572
$733
$576
Operating lease equipment
$417
$416
$374
$379
$344
Loans and Leases Serviced for Others
$1,838
$1,801
$1,290
$1,206
$1,166
2,193
518
558
601
292
318
291
304
333
817
821
853
764
757
85,907
86,733
87,827
89,639
91,201
643
665
686
692
557
81
92
98
Total loans and leases serviced for others
91,771
90,942
91,540
93,261
94,720
Total loans and leases owned or serviced
$271,582
$268,973
$215,298
$217,346
$218,106
(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities.
$24,508
$24,136
$18,099
$17,645
$17,616
Additional tier 1 capital
Tier 1 capital
26,690
26,318
19,869
19,415
19,732
Tier 2 capital
4,164
4,179
3,197
3,204
Total regulatory capital
$30,854
$30,497
$23,066
$22,619
$22,929
Risk-weighted assets
$246,855
$243,964
$167,431
$166,999
$166,517
Average total Bancorp shareholders' equity as a percent of average assets
Fifth Third Bancorp
Fifth Third Bank, National Association
11.69%
11.73%
13.09%
12.95%
12.87%
12.94%
13.00%
14.19%
14.12%
9.99%
11.16%
10.41%
10.31%
10.25%
(a) Current period regulatory capital data and ratios are estimated.
Average portfolio loans and leases:
Losses charged-off:
($73)
($77)
($61)
($280)
($84)
(4)
(77)
(69)
(282)
(90)
(36)
(41)
(20)
(19)
(29)
(26)
(23)
(21)
(25)
(108)
(110)
($181)
($187)
($177)
($382)
($194)
Recoveries of losses previously charged-off:
$17
$6
$15
18
35
$46
$43
$52
$55
Net losses charged-off:
($65)
($69)
($44)
($274)
(6)
(64)
(51)
(275)
(71)
(18)
(24)
(27)
(14)
(17)
(13)
(68)
($135)
($144)
($125)
($339)
($139)
Net losses charged-off as a percent of average portfolio loans and leases (annualized):
0.32%
2.01%
(0.01%)
0.04%
0.11%
(0.02%)
0.16%
(0.04%)
(0.10%)
0.01%
0.06%
(0.05%)
3.60%
3.51%
3.62%
3.70%
3.74%
2.25%
2.03%
1.45%
1.47%
1.86%
1.95%
2.46%
2.51%
2.49%
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)
(a) Excludes net charge-offs of $111 million which were taken immediately at the time of acquisition.
Allowance for Credit Losses
Allowance for loan and lease losses, beginning
Allowance for loan and lease losses, ending
Components of allowance for credit losses:
Reserve for unfunded commitments
232
151
Total allowance for credit losses
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
$455
$393
$460
94
62
164
149
142
104
72
Total nonaccrual portfolio loans and leases
1,041
960
767
768
Total nonperforming portfolio loans and leases and OREO
1,075
797
886
Nonaccrual loans held for sale
141
70
Total nonperforming assets
$1,242
$1,140
$867
$805
$913
Loans and leases 90 days past due (accrual):
$4
$3
$2
Total loans and leases 90 days past due (accrual)
$33
$49
$30
$29
$34
Allowance for credit losses:
As a percent of portfolio loans and leases
As a percent of nonperforming portfolio loans and leases
As a percent of nonperforming portfolio assets
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property
0.64%
0.74%
(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 $111 million which were taken immediately at the time of acquisition.
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.
$ and shares in millions
Add: Taxable equivalent adjustment
Net interest income (FTE) (a)
Net interest income (annualized) (b)
8,884
7,843
6,066
6,030
5,996
Net interest income (FTE) (annualized) (c)
8,904
7,864
6,082
6,050
6,016
Interest income (FTE)
3,377
2,977
2,472
2,524
2,489
Interest income (FTE) (annualized) (d)
13,545
12,073
9,807
10,014
9,983
Interest expense (annualized) (e)
4,641
4,210
3,725
3,963
3,967
Average interest-earning assets (f)
194,144
193,500
Average interest-bearing liabilities (g)
143,518
143,096
Net interest margin (b) / (f)
3.35 %
3.30 %
3.12 %
3.11 %
Net interest margin (FTE) (c) / (f)
3.36 %
3.13 %
Net interest rate spread (FTE) (d) / (f) - (e) / (g)
2.67 %
2.63 %
2.45 %
2.41 %
2.40 %
$1,036
$207
$912
$837
$808
Income before income taxes (FTE)
212
916
842
Add: Intangible amortization, net of tax
Tangible net income available to common shareholders (h)
162
704
613
596
Tangible net income available to common shareholders (annualized) (i)
3,253
657
2,793
2,432
2,391
Average Bancorp shareholders
’
equity
Less:
Average preferred stock
(2,182)
(2,040)
(1,770)
(2,112)
(2,116)
Average goodwill
(9,973)
(8,686)
(4,947)
(4,937)
(4,918)
Average intangible assets
(1,257)
(841)
(72)
(79)
Average tangible common equity, including AOCI (j)
20,848
18,541
14,738
14,090
13,557
Average AOCI
3,080
3,137
3,520
3,935
Average tangible common equity, excluding AOCI (k)
24,225
21,621
17,875
17,610
17,492
Total Bancorp shareholders
(9,990)
(9,966)
(1,253)
(1,233)
(76)
Tangible common equity, including AOCI (l)
20,998
20,725
14,938
14,314
14,015
AOCI
3,345
3,234
3,110
3,276
3,546
Tangible common equity, excluding AOCI (m)
24,343
23,959
18,048
17,590
17,561
Add:
Tangible equity (n)
26,525
26,141
19,818
19,360
19,677
Total assets
300,122
297,039
214,376
212,903
209,991
Tangible assets, including AOCI (o)
288,879
285,840
209,360
207,880
204,998
AOCI, before tax
4,401
4,255
4,092
4,311
4,666
Tangible assets, excluding AOCI (p)
$293,280
$290,095
$213,452
$212,191
$209,664
Common shares outstanding (q)
907
906
661
668
Tangible equity (n) / (p)
Tangible common equity (excluding AOCI) (m) / (p)
Tangible common equity (including AOCI) (l) / (o)
Tangible book value per share (including AOCI) (l) / (q)
$23.15
$22.88
$22.60
$21.66
$20.98
Tangible book value per share (excluding AOCI) (m) / (q)
$26.84
$26.44
$27.30
$26.61
$26.29
Net income (r)
Net income (annualized) (s)
3,213
669
Adjustments (pre-tax items)
203
Non-qualified deferred compensation expense/(benefit)
(9)
15
Merger-related Day 1 ACL build
Adjustments, pre-tax
229
735
Applicable income tax expense on adjustments
54
Adjustments, after-tax (t)
(a)(b)
569
Noninterest income (u)
Noninterest income excluding certain item(s)
1,070
909
751
Adjusted noninterest income, excluding certain items and securities losses (v)
1,040
921
Noninterest expense (w)
1,891
1,760
1,249
Adjusted noninterest expense, excluding certain items and non-qualified deferred compensation (x)
1,861
1,769
Adjusted net income (r) + (t)
976
734
640
Adjusted net income (annualized) (y)
3,915
2,567
Adjusted tangible net income available to common shareholders (h) + (t)
986
Adjusted tangible net income available to common shareholders (annualized) (z)
3,955
2,965
2,439
Average assets (aa)
Return on average tangible common equity (i) / (j)
Return on average tangible common equity excluding AOCI (i) / (k)
13.4%
3.0%
13.7%
Adjusted return on average tangible common equity, including AOCI (z) / (j)
16.0%
18.0%
Adjusted return on average tangible common equity, excluding AOCI (z) / (k)
16.3%
13.9%
Return on average assets (s) / (aa)
Adjusted return on average assets (y) / (aa)
1.31%
1.12%
1.22%
Efficiency ratio (FTE) (w) / [(a) + (u)]
Adjusted efficiency ratio (x) / [(a) + (v)]
57.1%
61.9%
55.2%
Total revenue (FTE) (a) + (u)
$3,279
$2,834
$2,250
Adjusted total revenue (FTE) (a) + (v)
$3,260
$2,860
$2,235
Pre-provision net revenue (PPNR) (a) + (u) - (w)
$1,170
$439
$986
Adjusted pre-provision net revenue (PPNR) (a) + (v) - (x)
$1,399
$1,091
$1,002
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.
For the three months ended June 30, 2026
Commercial Banking
Consumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
$1,115
$1,237
$113
$(245)
(Provision for) benefit from credit losses
(82)
(129)
Net interest income after (provision for) benefit from credit losses
1,090
1,155
117
(271)
2,091
507
321
186
45
(757)
(860)
(185)
(307)
(2,109)
Income (loss) before income taxes (FTE)
$840
$616
$118
$(533)
For the three months ended March 31, 2026
$878
$1,073
$83
$(95)
(158)
(89)
(227)
720
984
1,712
441
298
(810)
(183)
(668)
(2,395)
$427
$472
$64
$(751)
For the three months ended December 31, 2025
$581
$1,026
$(126)
$1,533
(46)
(84)
(119)
535
942
(115)
1,414
386
111
(476)
(645)
(97)
(91)
(1,309)
$445
$66
$(203)
$916
For the three months ended September 30, 2025
$594
$1,082
$(206)
$1,525
(246)
122
(197)
348
1,009
1,328
357
309
109
(454)
(653)
(93)
(67)
(1,267)
$251
$665
$71
$(145)
$842
For the three months ended June 30, 2025
$595
$1,085
$57
$(237)
(173)
516
1,001
59
(249)
1,327
293
101
(453)
(646)
(95)
(70)
(1,264)
$384
$648
$65
$(284)
(a) Includes taxable equivalent adjustments of $5 million for the three months ended June 30, 2026 and March 31, 2026, $4 million for the three months ended December 31, 2025 and $5 million for the three months ended September 30, 2025 and June 30, 2025.
Category: Earnings
Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693
Source: Fifth Third Bancorp
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