Fifth Third Bancorp公布3Q26业绩：GAAP EPS $0.90、调整后EPS $1.13，盘前股价下跌，市场暂未认可 headline beat

Organic momentum and successful integration advance the earnings power of the combined company
Reported EPS of $0.90; adjusted EPS
(a)
of $1.13 excludes $0.23 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
3Q26
2Q26
3Q25
Stability:
Resilient credit performance. Net charge-offs
(b)
of 31 bps in 3Q26
Core deposits increased 3% sequentially; loan-to-core deposit ratio of 76%
Strong client and banker retention through the Comerica conversion
Profitability:
Net interest income increased 3% sequentially
8% adjusted PPNR
(a)
growth and 450 bps of positive operating leverage from 2Q26
20.6% adjusted ROTCE
(a)
and 1.41% adjusted ROA
(a)
Growth:
Generated 70% more commercial new quality relationships compared to 3Q25
Consumer household growth of 7% in the Southeast and 8% in the Southwest
Gained deposit share in Texas and California, with capped deposits in Dallas, Houston and Austin each up more than 20% year-over-year, while Southeast deposit growth was more than five times the market rate
Income Statement Data
Net income available to common shareholders
$828
$763
$608
Net interest income (U.S. GAAP)
2,271
2,215
1,520
Net interest income (FTE)
(a)
2,276
2,220
1,525
Noninterest income
1,008
1,059
781
Noninterest expense
2,049
2,109
1,267
Per Share Data
Earnings per share, basic
$0.91
$0.84
$0.91
Earnings per share, diluted
0.90
0.83
0.91
Book value per share
34.31
35.63
29.26
Tangible book value per share
(a)
22.01
23.22
21.66
Balance Sheet & Credit Quality
Average portfolio loans and leases
$179,244
$177,572
$123,326
Average deposits
238,344
231,506
164,754
Accumulated other comprehensive loss
(4,919
)
(3,286
)
(3,276
)
Net charge-off ratio
(b)
0.31
%
0.30
%
1.09
%
Nonperforming asset ratio
(c)
0.64
0.60
0.65
Financial Ratios
Return on average assets
1.14
%
1.08
%
1.21
%
Return on average common equity
10.2
9.5
12.6
Return on average tangible common equity
(a)
16.6
15.6
17.3
CET1 capital
(d)
10.02
9.93
10.57
Net interest margin
(a)
3.34
3.36
3.13
Efficiency
(a)
62.4
64.3
54.9
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 third quarter reflected the earnings power of the combined company. Even while integrating Comerica, our adjusted return on tangible common equity and efficiency ratio improved from the second quarter, and credit performance remained stable.
Less than a year after we announced the Comerica acquisition, we completed the systems conversion with strong client and banker retention. Most importantly, the business is growing. The latest FDIC data show sustained deposit share gains in the Southeast and new share gains in Comerica's Michigan, Texas and California markets, and household growth continues to be led by the Southeast.
We live in a more volatile world, and competition for deposits is heating up. Multiple sources of low-cost deposits and limited exposure to the borrowers most sensitive to higher rates give us flexibility regardless of the rate environment. We are building a Fifth Third that is better and not just bigger. 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
September
June
September
2026
2026
2025
Seq
Yr/Yr
Condensed Statements of Income
Net interest income (NII)
(a)
$2,276
$2,220
$1,525
3%
49%
Provision for credit losses
122
129
197
(5)%
(38)%
Noninterest income
1,008
1,059
781
(5)%
29%
Noninterest expense
2,049
2,109
1,267
(3)%
62%
Income before income taxes
(a)
$1,113
$1,041
$842
7%
32%
Taxable equivalent adjustment
$5
$5
$5
—
—
Applicable income tax expense
242
235
188
3%
29%
Net income
$866
$801
$649
8%
33%
Dividends on preferred stock
38
38
41
—
(7)%
Net income available to common shareholders
$828
$763
$608
9%
36%
Earnings per share, diluted
$0.90
$0.83
$0.91
8%
(1)%
Fifth Third Bancorp (NYSE: FITB) today reported third quarter 2026 net income available to common shareholders of $828 million, or $0.90 per diluted share, compared to $763 million, or $0.83 per diluted share, in the prior quarter and $608 million, or $0.91 per diluted share, in the year-ago quarter.
Diluted earnings per share impact of certain item(s) - 3Q26
(after-tax impact; $ in millions, except per share data)
Merger-related charges
(e)
1,2
$(171)
Interchange litigation matters
(e)3
(26)
Technology-related asset impairments
(e)
(14)
After-tax impact
of certain item(s)
$(211)
Diluted earnings per share impact of certain item(s)
4
$(0.23)
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 $215 million and decreased noninterest income by $10 million;
3
Interchange litigation matters increased noninterest expense by $5 million and decreased noninterest income by $29 million;
4
Diluted earnings per share impact reflects 917.103 million average diluted shares outstanding
Net Interest Income
(FTE; $ in millions)
(a)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Interest Income
Interest income
$3,503
$3,377
$2,524
4%
39%
Interest expense
1,227
1,157
999
6%
23%
Net interest income (NII)
$2,276
$2,220
$1,525
3%
49%
Average Yield/Rate Analysis
bps Change
Yield on interest-earning assets
5.15%
5.11%
5.18%
4
(3)
Rate paid on interest-bearing liabilities
2.50%
2.44%
2.77%
6
(27)
Ratios
Net interest rate spread
2.65%
2.67%
2.41%
(2)
24
Net interest margin (NIM)
3.34%
3.36%
3.13%
(2)
21
Net interest income (FTE) increased 3% sequentially to $2.28 billion, reflecting the benefit of higher market rates, continued fixed-rate asset repricing, active investment portfolio management, and loan growth. These benefits were partially offset by higher deposit costs due to higher market rates and the migration of former off-balance-sheet Comerica investment sweep balances into interest-bearing deposits.
Compared with the year-ago quarter, net interest income increased 49%, primarily reflecting the addition of Comerica, with further support from fixed-rate asset repricing and balance sheet management.
Noninterest Income
($ in millions)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Noninterest Income
Wealth and asset management revenue
$259
$256
$181
1%
43%
Commercial payments revenue
256
254
157
1%
63%
Consumer banking revenue
158
161
144
(2)%
10%
Capital markets fees
147
154
115
(5)%
28%
Commercial banking revenue
128
125
87
2%
47%
Mortgage banking net revenue
47
39
58
21%
(19)%
Other noninterest income
18
50
29
(64)%
(38)%
Securities (losses) gains, net
(5)
20
10
NM
NM
Total noninterest income
$1,008
$1,059
$781
(5)%
29%
Noninterest income of $1.01 billion decreased $51 million, or 5%, sequentially and increased $227 million, or 29%, year-over-year. The reported results reflect the impact of certain items in the table below, including interchange litigation matters, merger-related charges, and other securities gains/losses, which incorporate the mark-to-market impacts from securities tied to non-qualified deferred compensation plans, which are offset in noninterest expense.
Higher mortgage banking, commercial banking, and wealth and asset management revenue more than offset lower capital markets and consumer banking revenue. Wealth and asset management benefited from higher institutional trust and personal asset management revenue. Commercial payments was stable, as growth in deposit fees was offset by higher earnings credits. Capital markets fees declined as late-quarter market volatility slowed M&A advisory and loan syndication activity, more than offsetting higher corporate bond fees.
Noninterest Income excluding certain items
($ in millions)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)
$1,008
$1,059
$781
Interchange litigation matters
29
1
18
Merger-related charges
10
—
—
Other securities losses/(gains), net
5
(30)
(10)
Securities repositioning losses
—
10
—
Noninterest income excluding certain items
(a)
$1,052
$1,040
$789
1%
33%
Excluding certain items, noninterest income increased 1% sequentially to $1.05 billion.
Noninterest Expense
($ in millions)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Noninterest Expense
Compensation and benefits
$982
$1,129
$685
(13)%
43%
Technology and communications
300
250
128
20%
134%
Net occupancy expense
144
154
89
(6)%
62%
Card and processing expense
60
66
22
(9)%
173%
Equipment expense
59
60
44
(2)%
34%
Loan and lease expense
47
53
39
(11)%
21%
Marketing expense
57
65
34
(12)%
68%
Other noninterest expense
400
332
226
20%
77%
Total noninterest expense
$2,049
$2,109
$1,267
(3)%
62%
Noninterest expense of $2.05 billion decreased 3% sequentially, driven primarily by lower compensation and benefits expense. The reported results reflect the impact of certain items in the table below.
Noninterest Expense excluding certain item(s)
($ in millions)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)
$2,049
$2,109
$1,267
Merger-related charges
(215)
(203)
—
Technology-related asset impairments
(19)
(7)
—
Interchange litigation matters
(5)
(1)
(9)
Severance expense
—
(7)
—
FDIC special assessment
—
—
6
Noninterest expense excluding certain item(s)
(a)
$1,810
$1,891
$1,264
(4)%
43%
Non-qualified deferred compensation benefit/(expense)
6
(30)
(11)
Noninterest expense excluding certain item(s) and non-qualified deferred compensation
(a)
$1,816
$1,861
$1,253
(2)%
45%
Noninterest expense excluding certain items and non-qualified deferred compensation decreased 2% sequentially to $1.82 billion. Merger-related charges recognized in noninterest expense totaled approximately 1.04 billion year-to-date, consistent with the integration timeline.
Average Interest-Earning Assets
($ in millions)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans
$85,982
$84,967
$54,170
1%
59%
Commercial mortgage loans
27,263
27,176
12,027
—
127%
Commercial construction loans
8,744
8,437
5,541
4%
58%
Commercial leases
3,574
3,503
3,177
2%
12%
Total commercial loans and leases
$125,563
$124,083
$74,915
1%
68%
Consumer loans:
Residential mortgage loans
$19,775
$19,626
$17,656
1%
12%
Home equity
7,023
6,830
4,579
3%
53%
Indirect secured consumer loans
18,182
18,239
17,729
—
3%
Credit card
1,646
1,646
1,678
—
(2)%
Solar energy installation loans
4,244
4,384
4,355
(3)%
(3)%
Other consumer loans
2,811
2,764
2,414
2%
16%
Total consumer loans
$53,681
$53,489
$48,411
—
11%
Total average portfolio loans and leases
$179,244
$177,572
$123,326
1%
45%
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale
$170
$399
$44
(57)%
286%
Consumer loans held for sale
597
736
623
(19)%
(4)%
Total average loans and leases held for sale
$767
$1,135
$667
(32)%
15%
Total average loans and leases
$180,011
$178,707
$123,993
1%
45%
Securities (taxable and tax-exempt)
$68,543
$67,924
$54,592
1%
26%
Other short-term investments
21,469
18,358
14,915
17%
44%
Total average interest-earning assets
$270,023
$264,989
$193,500
2%
40%
Total average portfolio loans and leases of $179 billion increased 1% sequentially and 45% year-over-year. Sequential performance was driven by approximately $1.5 billion of growth in commercial loans and leases, while average consumer loans were broadly stable. Year-over-year growth primarily reflected the addition of Comerica.
Average securities (taxable and tax-exempt; amortized cost) of $69 billion increased 1% sequentially and 26% year-over-year, with sequential growth reflecting continued investment portfolio activity. Average other short-term investments (including interest-bearing cash) increased $3.1 billion, or 17%, sequentially, primarily reflecting the migration of the previously mentioned former off-balance-sheet Comerica investment sweep balances onto the balance sheet.
End of Period Interest-Earning Assets
($ in millions)
As of
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
End of Period Portfolio Loans and Leases
Total commercial loans and leases
$126,366
$124,880
$74,423
1%
70%
Total consumer loans
53,906
53,648
48,707
—
11%
Total portfolio loans and leases
$180,272
$178,528
$123,130
1%
46%
End of Period Loans and Leases Held for Sale
Total loans and leases held for sale
$728
$866
$576
(16)%
26%
Total loans and leases
$181,000
$179,394
$123,706
1%
46%
Securities (taxable and tax-exempt)
$70,769
$68,332
$52,680
4%
34%
Other short-term investments
16,520
19,350
17,215
(15)%
(4)%
Total interest-earning assets
$268,289
$267,076
$193,601
—
39%
Period-end total portfolio loans and leases increased 1% sequentially to $180 billion. Commercial growth was led by construction and C&I originations, partly offset by elevated payoffs. Consumer growth reflected continued momentum in home equity, partially offset by expected runoff in solar energy installation loans.
Total period-end securities (taxable and tax-exempt; amortized cost) increased $2.4 billion sequentially to $71 billion as a portion of the liquidity held earlier in the quarter was deployed into higher-yielding investment securities. As a result, period-end short-term investments declined $2.8 billion even though average short-term investments were higher for the quarter.
Average Deposits
($ in millions)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Average Deposits
Demand
$64,228
$63,976
$41,235
—
56%
Interest checking
75,025
70,507
56,624
6%
32%
Savings
18,037
18,430
16,376
(2)%
10%
Money market
66,247
63,200
37,434
5%
77%
Total transaction deposits
$223,537
$216,113
$151,669
3%
47%
CDs $250,000 or less
12,102
12,403
10,841
(2)%
12%
Total core deposits
$235,639
$228,516
$162,510
3%
45%
CDs over $250,000
1
2,705
2,990
2,244
(10)%
21%
Total average deposits
$238,344
$231,506
$164,754
3%
45%
1
CDs over $250,000 includes $1.0MM, $0.1BN, and $1.0BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 9/30/26, 6/30/26, and 9/30/25, respectively.
Total average deposits increased 3% sequentially to $238 billion, reflecting operational deposit growth, the Southwest retail deposit campaign, and the migration of former off-balance-sheet Comerica investment sweep balances onto the balance sheet. Additionally, certain Comerica legacy deposit products were simplified into more modern interest checking products resulting in a shift from commercial savings and money market into interest checking.
Period-end total deposits increased 2% sequentially to $239 billion, with growth in interest-checking, partially offset by lower money market and CD balances. The period-end portfolio loan-to-core deposit ratio improved to 76% from 77% last quarter, as deposit growth modestly outpaced loan growth.
Average Wholesale Funding
($ in millions)
For the Three Months Ended
% Change
September
June
September
2026
2026
2025
Seq
Yr/Yr
Average Wholesale Funding
CDs over $250,000
1
$2,705
$2,990
$2,244
(10)%
21%
Federal funds purchased
181
160
198
13%
(9)%
Securities sold under repurchase agreements
395
444
376
(11)%
5%
FHLB advances
2,365
3,437
4,920
(31)%
(52)%
Derivative collateral and other secured borrowings
93
64
82
45%
13%
Long-term debt
17,513
18,817
14,001
(7)%
25%
Total average wholesale funding
$23,252
$25,912
$21,821
(10)%
7%
1
CDs over $250,000 includes $1.0MM, $0.1BN, and $1.0BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 9/30/26, 6/30/26, and 9/30/25, respectively.
Strong deposit growth improved the overall funding mix and supported a 10% sequential reduction in average wholesale funding to $23 billion, driven primarily by decreases of $1.3 billion in long-term debt and $1.1 billion in FHLB advances.
Compared with the year-ago quarter, average wholesale funding increased 7%, reflecting the Comerica acquisition.
Credit Quality Summary
($ in millions)
As of and For the Three Months Ended
September
June
March
December
September
2026
2026
2026
2025
2025
Total nonaccrual portfolio loans and leases (NPLs)
$1,070
$1,041
$960
$767
$768
Repossessed property
9
10
11
11
12
OREO
1
81
24
28
19
21
Total nonperforming portfolio loans and leases and OREO (NPAs)
$1,160
$1,075
$999
$797
$801
NPL ratio
(f)
0.59%
0.58%
0.54%
0.62%
0.62%
NPA ratio
(c)
0.64%
0.60%
0.57%
0.65%
0.65%
Portfolio loans and leases 30-89 days past due (accrual)
$540
$561
$683
$360
$348
Portfolio loans and leases 90 days past due (accrual)
42
33
49
30
29
30-89 days past due as a % of portfolio loans and leases
0.30%
0.31%
0.39%
0.29%
0.28%
90 days past due as a % of portfolio loans and leases
0.02%
0.02%
0.03%
0.02%
0.02%
Allowance for loan and lease losses (ALLL), beginning
$2,918
$2,922
$2,253
$2,265
$2,412
Total net losses charged-off
(139)
(135)
(144)
(125)
(339)
Provision for loan and lease losses
127
131
152
113
192
Allowance on PCD loans and leases at acquisition
—
(1)
180
—
—
Allowance on PSLs at acquisition
—
1
481
—
—
ALLL, ending
$2,906
$2,918
$2,922
$2,253
$2,265
Reserve for unfunded commitments, beginning
$230
$232
$157
$151
$146
(Benefit from) provision for the reserve for unfunded commitments
(5)
(2)
75
6
5
Reserve for unfunded commitments, ending
$225
$230
$232
$157
$151
Total allowance for credit losses (ACL)
$3,131
$3,148
$3,154
$2,410
$2,416
ACL ratios:
As a % of portfolio loans and leases
1.74%
1.76%
1.79%
1.96%
1.96%
As a % of nonperforming portfolio loans and leases
292%
303%
328%
314%
314%
As a % of nonperforming portfolio assets
270%
293%
316%
302%
302%
ALLL as a % of portfolio loans and leases
1.61%
1.63%
1.66%
1.84%
1.84%
Total losses charged-off
$(192)
$(181)
$(187)
$(177)
$(382)
Total recoveries of losses previously charged-off
53
46
43
52
43
Total net losses charged-off
2
$(139)
$(135)
$(144)
$(125)
$(339)
Net charge-off ratio (NCO ratio)
(b)2
0.31%
0.30%
0.37%
0.40%
1.09%
Commercial NCO ratio
0.22%
0.21%
0.26%
0.27%
1.46%
Consumer NCO ratio
0.52%
0.53%
0.58%
0.59%
0.52%
1
Includes branch-related real estate no longer intended to be used for banking purposes.
2
Excludes net charge-offs of $100 million which were taken immediately at the time of acquisition.
The provision for credit losses declined to $122 million from $129 million in the prior quarter. The allowance for credit losses was $3.1 billion, or 1.74%, of total portfolio loans and leases, compared with 1.76% in the prior quarter. The modest decline in the ACL ratio reflected improvement in the commercial risk profile. The ACL coverage ratio remained strong at 292% of nonperforming portfolio loans and leases and 270% of nonperforming portfolio assets.
Net charge-offs totaled $139 million, or 0.31%, of average portfolio loans, compared with $135 million, or 0.30%, in the prior quarter. The commercial NCO ratio increased 1 bp sequentially to 0.22%, while the consumer NCO ratio declined 1 bp to 0.52%.
Compared with the year-ago quarter, the total NCO ratio improved 78 bps, largely because the prior year period included a $178 million asset-backed finance charge-off. Excluding that credit, the year-ago NCO ratio was 0.52%.
Credit quality remained stable, with early- and late-stage delinquencies, nonperforming portfolio loans and leases and nonperforming portfolio assets broadly unchanged sequentially. OREO was $81 million at September 30, 2026 and included $74 million of branch-related real estate no longer intended to be used for banking purposes primarily driven by the Comerica acquisition.
Capital Position
As of and For the Three Months Ended
September
June
March
December
September
2026
2026
2026
2025
2025
Capital Position
Average total Bancorp shareholders' equity as a % of average assets
11.37%
11.50%
11.34%
10.11%
10.02%
Tangible equity
(a)
9.13%
9.04%
9.01%
9.28%
9.12%
Tangible common equity (excluding AOCI)
(a)
8.39%
8.30%
8.26%
8.46%
8.29%
Tangible common equity (including AOCI)
(a)
6.88%
7.29%
7.25%
7.14%
6.89%
Regulatory Capital Ratios
(d)
CET1 capital
10.02%
9.93%
9.89%
10.81%
10.57%
Tier 1 risk-based capital
10.90%
10.81%
10.79%
11.87%
11.63%
Total risk-based capital
12.54%
12.50%
12.50%
13.78%
13.54%
Leverage
9.22%
9.20%
10.22%
9.41%
9.24%
Fifth Third's CET1 capital ratio increased to 10.02%, compared with 9.93% in the prior quarter, as capital generated through earnings was partially offset by RWA growth. Fifth Third did not repurchase common shares during the quarter or year-to-date.
Tax Rate
The effective tax rate for the quarter was 21.8% compared with 22.7% in the prior quarter and 22.6% 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
www.53.com
. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
Earnings Release End Notes
(a)
Non-GAAP measure; see discussion of non-GAAP reconciliation beginning on page 27.
(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 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 entirety. Any qualifications, assumptions, conditions, limitations or other disclosures that apply to a particular item of information are deemed to apply, with any necessary adjustments to all references to that information throughout this press release.
Quarterly Financial Review for September 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
20
Average Balance Sheets and Yield/Rate Analysis
21-22
Summary of Loans and Leases
23
Regulatory Capital
24
Summary of Credit Loss Experience
25
Asset Quality
26
Non-GAAP Reconciliation
27-29
Segment Presentation
30
Fifth Third Bancorp and Subsidiaries
Financial Highlights
As of and For the Three Months Ended
% / bps
% / bps
$ in millions, except per share data
Change
Year to Date
Change
(unaudited)
September
June
September
September
September
2026
2026
2025
Seq
Yr/Yr
2026
2025
Yr/Yr
Income Statement Data
Net interest income
$2,271
$2,215
$1,520
3%
49%
$6,420
$4,453
44%
Net interest income (FTE)
(a)
2,276
2,220
1,525
3%
49%
6,435
4,468
44%
Noninterest income
1,008
1,059
781
(5%)
29%
2,962
2,224
33%
Total revenue (FTE)
(a)
3,284
3,279
2,306
—
42%
9,397
6,692
40%
Provision for credit losses
122
129
197
(5%)
(38%)
479
544
(12%)
Noninterest expense
2,049
2,109
1,267
(3%)
62%
6,553
3,835
71%
Net income
866
801
649
8%
33%
1,832
1,791
2%
Net income available to common shareholders
828
763
608
9%
36%
1,719
1,677
3%
Earnings Per Share Data
Net income allocated to common shareholders
$828
$763
$608
9%
36%
$1,719
$1,677
3%
Average common shares outstanding (in thousands):
Basic
911,919
911,613
666,427
—
37%
883,202
669,405
32%
Diluted
917,103
915,959
670,878
—
37%
888,097
673,632
32%
Earnings per share, basic
$0.91
$0.84
$0.91
8%
—
$1.95
$2.51
(22%)
Earnings per share, diluted
0.90
0.83
0.91
8%
(1%)
1.94
2.49
(22%)
Common Share Data
Cash dividends per common share
$0.42
$0.40
$0.40
5%
5%
$1.22
$1.14
7%
Book value per share
34.31
35.63
29.26
(4%)
17%
34.31
29.26
17%
Market value per share
50.58
56.37
44.55
(10%)
14%
50.58
44.55
14%
Common shares outstanding (in thousands)
907,367
906,573
660,973
—
37%
907,367
660,973
37%
Market capitalization
$45,895
$51,103
$29,446
(10%)
56%
$45,895
$29,446
56%
Financial Ratios
Return on average assets
1.14%
1.08%
1.21%
6
(7)
0.85%
1.13%
(28)
Return on average common equity
10.2%
9.5%
12.6%
70
(240)
7.5%
12.1%
(460)
Return on average tangible common equity
(a)
16.6%
15.6%
17.3%
100
(70)
12.3%
16.8%
(450)
Noninterest income as a percent of total revenue
(a)
31%
32%
34%
(100)
(300)
32%
33%
(100)
Dividend payout
46.2%
47.6%
44.0%
NM
NM
62.6%
45.4%
NM
Average total Bancorp shareholders’ equity as a percent of average assets
11.37%
11.50%
10.02%
(13)
135
11.40%
9.78%
162
Tangible common equity
(a)
8.39%
8.30%
8.29%
9
10
8.39%
8.29%
10
Net interest margin (FTE)
(a)
3.34%
3.36%
3.13%
(2)
21
3.34%
3.10%
24
Efficiency (FTE)
(a)
62.4%
64.3%
54.9%
(190)
750
69.7%
57.3%
NM
Effective tax rate
21.8%
22.7%
22.6%
(90)
(80)
22.0%
22.1%
(10)
Credit Quality
Net losses charged-off
(h)
$139
$135
$339
3%
(59%)
$419
$614
(32%)
Net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.31%
0.30%
1.09%
1
(78)
0.33%
0.67%
(34)
ALLL as a percent of portfolio loans and leases
1.61%
1.63%
1.84%
(2)
(23)
1.61%
1.84%
(23)
ACL as a percent of portfolio loans and leases
(f)
1.74%
1.76%
1.96%
(2)
(22)
1.74%
1.96%
(22)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO
0.64%
0.60%
0.65%
4
(1)
0.64%
0.65%
(1)
Average Balances
Loans and leases, including held for sale
$180,011
$178,707
$123,993
1%
45%
$172,414
$123,147
40%
Securities and other short-term investments
90,012
86,282
69,507
4%
30%
85,362
69,853
22%
Assets
302,119
297,948
211,770
1%
43%
288,673
210,965
37%
Transaction deposits
(b)
223,537
216,113
151,669
3%
47%
211,624
151,327
40%
Core deposits
(c)
235,639
228,516
162,510
3%
45%
223,674
161,901
38%
Wholesale funding
(d)
23,252
25,912
21,821
(10%)
7%
23,577
22,167
6%
Bancorp shareholders' equity
34,338
34,260
21,216
—
62%
32,917
20,633
60%
Regulatory Capital Ratios
(e)
CET1 capital
10.02%
9.93%
10.57%
9
(55)
10.02%
10.57%
(55)
Tier 1 risk-based capital
10.90%
10.81%
11.63%
9
(73)
10.90%
11.63%
(73)
Total risk-based capital
12.54%
12.50%
13.54%
4
(100)
12.54%
13.54%
(100)
Leverage
9.22%
9.20%
9.24%
2
(2)
9.22%
9.24%
(2)
Additional Metrics
Banking centers
1,429
1,500
1,102
(5%)
30%
1,429
1,102
30%
ATMs
2,549
2,648
2,184
(4%)
17%
2,549
2,184
17%
Full-time equivalent employees
25,069
25,197
18,476
(1%)
36%
25,069
18,476
36%
Assets under care ($ in billions)
(g)
$880
$902
$681
(2%)
29%
$880
$681
29%
Assets under management ($ in billions)
(g)
125
128
77
(2%)
62%
125
77
62%
(a)
Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.
(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 $100 million which were taken at the time of acquisition.
Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data
As of and For the Three Months Ended
(unaudited)
September
June
March
December
September
2026
2026
2026
2025
2025
Income Statement Data
Net interest income
$2,271
$2,215
$1,934
$1,529
$1,520
Net interest income (FTE)
(a)
2,276
2,220
1,939
1,533
1,525
Noninterest income
1,008
1,059
895
811
781
Total revenue (FTE)
(a)
3,284
3,279
2,834
2,344
2,306
Provision for credit losses
122
129
227
119
197
Noninterest expense
2,049
2,109
2,395
1,309
1,267
Net income
866
801
165
731
649
Net income available to common shareholders
828
763
128
699
608
Earnings Per Share Data
Net income allocated to common shareholders
$828
$763
$128
$699
$608
Average common shares outstanding (in thousands):
Basic
911,919
911,613
825,119
664,384
666,427
Diluted
917,103
915,959
830,274
669,153
670,878
Earnings per share, basic
$0.91
$0.84
$0.16
$1.05
$0.91
Earnings per share, diluted
0.90
0.83
0.15
1.04
0.91
Common Share Data
Cash dividends per common share
$0.42
$0.40
$0.40
$0.40
$0.40
Book value per share
34.31
35.63
35.24
30.18
29.26
Market value per share
50.58
56.37
46.46
46.81
44.55
Common shares outstanding (in thousands)
907,367
906,573
905,823
661,198
660,973
Market capitalization
$45,895
$51,103
$42,085
$30,951
$29,446
Financial Ratios
Return on average assets
1.14%
1.08%
0.25%
1.36%
1.21%
Return on average common equity
10.2%
9.5%
1.8%
14.0%
12.6%
Return on average tangible common equity
(a)
16.6%
15.6%
3.5%
19.0%
17.3%
Noninterest income as a percent of total revenue
(a)
31%
32%
32%
35%
34%
Dividend payout
46.2%
47.6%
250.0%
38.1%
44.0%
Average total Bancorp shareholders’ equity as a percent of average assets
11.37%
11.50%
11.34%
10.11%
10.02%
Tangible common equity
(a)
8.39%
8.30%
8.26%
8.46%
8.29%
Net interest margin (FTE)
(a)
3.34%
3.36%
3.30%
3.13%
3.13%
Efficiency (FTE)
(a)
62.4%
64.3%
84.5%
55.8%
54.9%
Effective tax rate
21.8%
22.7%
20.1%
19.8%
22.6%
Credit Quality
Net losses charged-off
(h)
$139
$135
$144
$125
$339
Net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.31%
0.30%
0.37%
0.40%
1.09%
ALLL as a percent of portfolio loans and leases
1.61%
1.63%
1.66%
1.84%
1.84%
ACL as a percent of portfolio loans and leases
(f)
1.74%
1.76%
1.79%
1.96%
1.96%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO
0.64%
0.60%
0.57%
0.65%
0.65%
Average Balances
Loans and leases, including held for sale
$180,011
$178,707
$158,283
$124,147
$123,993
Securities and other short-term investments
90,012
86,282
79,678
69,997
69,507
Assets
302,119
297,948
265,551
213,021
211,770
Transaction deposits
(b)
223,537
216,113
194,904
155,895
151,669
Core deposits
(c)
235,639
228,516
206,545
166,436
162,510
Wholesale funding
(d)
23,252
25,912
21,551
18,853
21,821
Bancorp shareholders’ equity
34,338
34,260
30,108
21,527
21,216
Regulatory Capital Ratios
(e)
CET1 capital
10.02%
9.93%
9.89%
10.81%
10.57%
Tier 1 risk-based capital
10.90%
10.81%
10.79%
11.87%
11.63%
Total risk-based capital
12.54%
12.50%
12.50%
13.78%
13.54%
Leverage
9.22%
9.20%
10.22%
9.41%
9.24%
Additional Metrics
Banking centers
1,429
1,500
1,489
1,130
1,102
ATMs
2,549
2,648
2,643
2,199
2,184
Full-time equivalent employees
25,069
25,197
25,980
18,676
18,476
Assets under care ($ in billions)
(g)
$880
$902
$865
$690
$681
Assets under management ($ in billions)
(g)
125
128
119
80
77
(a)
Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.
(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 $100 million which were taken at the time of acquisition.
Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions
For the Three Months Ended
% Change
Year to Date
% Change
(unaudited)
September
June
September
September
September
2026
2026
2025
Seq
Yr/Yr
2026
2025
Yr/Yr
Interest Income
Interest and fees on loans and leases
$2,669
$2,607
$1,909
2%
40%
$7,570
$5,604
35%
Interest on securities
631
598
444
6%
42%
1,730
1,354
28%
Interest on other short-term investments
198
167
166
19%
19%
543
477
14%
Total interest income
3,498
3,372
2,519
4%
39%
9,843
7,435
32%
Interest Expense
Interest on deposits
983
891
750
10%
31%
2,688
2,226
21%
Interest on short-term borrowings
28
38
61
(26%)
(54%)
71
181
(61%)
Interest on long-term debt
216
228
188
(5%)
15%
664
575
15%
Total interest expense
1,227
1,157
999
6%
23%
3,423
2,982
15%
Net Interest Income
2,271
2,215
1,520
3%
49%
6,420
4,453
44%
Provision for credit losses
122
129
197
(5%)
(38%)
479
544
(12%)
Net Interest Income After Provision for Credit Losses
2,149
2,086
1,323
3%
62%
5,941
3,909
52%
Noninterest Income
Wealth and asset management revenue
259
256
181
1%
43%
748
519
44%
Commercial payments revenue
256
254
157
1%
63%
728
462
58%
Consumer banking revenue
158
161
144
(2%)
10%
465
428
9%
Capital markets fees
147
154
115
(5%)
28%
435
294
48%
Commercial banking revenue
128
125
87
2%
47%
358
247
45%
Mortgage banking net revenue
47
39
58
21%
(19%)
130
171
(24%)
Other noninterest income
18
50
29
(64%)
(38%)
95
86
10%
Securities gains (losses), net
(5)
20
10
NM
NM
3
17
(82%)
Total noninterest income
1,008
1,059
781
(5%)
29%
2,962
2,224
33%
Noninterest Expense
Compensation and benefits
982
1,129
685
(13%)
43%
3,521
2,132
65%
Technology and communications
300
250
128
20%
134%
753
378
99%
Net occupancy expense
144
154
89
(6%)
62%
439
260
69%
Card and processing expense
60
66
22
(9%)
173%
205
65
215%
Equipment expense
59
60
44
(2%)
34%
173
126
37%
Loan and lease expense
47
53
39
(11%)
21%
142
105
35%
Marketing expense
57
65
34
(12%)
68%
171
105
63%
Other noninterest expense
400
332
226
20%
77%
1,149
664
73%
Total noninterest expense
2,049
2,109
1,267
(3%)
62%
6,553
3,835
71%
Income Before Income Taxes
1,108
1,036
837
7%
32%
2,350
2,298
2%
Applicable income tax expense
242
235
188
3%
29%
518
507
2%
Net Income
866
801
649
8%
33%
1,832
1,791
2%
Dividends on preferred stock
38
38
41
—
(7%)
113
114
(1%)
Net Income Available to Common Shareholders
$828
$763
$608
9%
36%
$1,719
$1,677
3%
Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions
For the Three Months Ended
(unaudited)
September
June
March
December
September
2026
2026
2026
2025
2025
Interest Income
Interest and fees on loans and leases
$2,669
$2,607
$2,293
$1,862
$1,909
Interest on securities
631
598
501
431
444
Interest on other short-term investments
198
167
178
175
166
Total interest income
3,498
3,372
2,972
2,468
2,519
Interest Expense
Interest on deposits
983
891
813
726
750
Interest on short-term borrowings
28
38
5
34
61
Interest on long-term debt
216
228
220
179
188
Total interest expense
1,227
1,157
1,038
939
999
Net Interest Income
2,271
2,215
1,934
1,529
1,520
Provision for credit losses
122
129
227
119
197
Net Interest Income After Provision for Credit Losses
2,149
2,086
1,707
1,410
1,323
Noninterest Income
Wealth and asset management revenue
259
256
233
185
181
Commercial payments revenue
256
254
218
167
157
Consumer banking revenue
158
161
146
143
144
Capital markets fees
147
154
134
121
115
Commercial banking revenue
128
125
105
102
87
Mortgage banking net revenue
47
39
44
56
58
Other noninterest income
18
50
27
42
29
Securities (losses) gains, net
(5)
20
(12)
(5)
10
Total noninterest income
1,008
1,059
895
811
781
Noninterest Expense
Compensation and benefits
982
1,129
1,410
683
685
Technology and communications
300
250
204
138
128
Net occupancy expense
144
154
140
89
89
Card and processing expense
60
66
79
27
22
Equipment expense
59
60
55
43
44
Loan and lease expense
47
53
42
41
39
Marketing expense
57
65
50
37
34
Other noninterest expense
400
332
415
251
226
Total noninterest expense
2,049
2,109
2,395
1,309
1,267
Income Before Income Taxes
1,108
1,036
207
912
837
Applicable income tax expense
242
235
42
181
188
Net Income
866
801
165
731
649
Dividends on preferred stock
38
38
37
32
41
Net Income Available to Common Shareholders
$828
$763
$128
$699
$608
Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data
As of
% Change
(unaudited)
September
June
September
2026
2026
2025
Seq
Yr/Yr
Assets
Cash and due from banks
$4,086
$4,374
$2,901
(7%)
41%
Other short-term investments
16,520
19,350
17,215
(15%)
(4%)
Available-for-sale debt and other securities
(a)
42,984
44,466
36,461
(3%)
18%
Held-to-maturity securities
(b)
20,862
18,404
11,498
13%
81%
Trading debt securities
1,760
1,853
1,266
(5%)
39%
Equity securities
471
495
287
(5%)
64%
Loans and leases held for sale
728
866
576
(16%)
26%
Portfolio loans and leases:
Commercial and industrial loans
86,144
85,736
53,947
—
60%
Commercial mortgage loans
27,486
27,196
11,932
1%
130%
Commercial construction loans
8,957
8,459
5,326
6%
68%
Commercial leases
3,779
3,489
3,218
8%
17%
Total commercial loans and leases
126,366
124,880
74,423
1%
70%
Residential mortgage loans
19,895
19,713
17,644
1%
13%
Home equity
7,132
6,929
4,678
3%
52%
Indirect secured consumer loans
18,196
18,186
17,885
—
2%
Credit card
1,660
1,683
1,692
(1%)
(2%)
Solar energy installation loans
4,193
4,314
4,432
(3%)
(5%)
Other consumer loans
2,830
2,823
2,376
—
19%
Total consumer loans
53,906
53,648
48,707
—
11%
Portfolio loans and leases
180,272
178,528
123,130
1%
46%
Allowance for loan and lease losses
(2,906)
(2,918)
(2,265)
—
28%
Portfolio loans and leases, net
177,366
175,610
120,865
1%
47%
Bank premises and equipment
3,336
3,343
2,655
—
26%
Goodwill
9,984
9,990
4,947
—
102%
Intangible assets
1,190
1,253
76
(5%)
NM
Servicing rights
1,669
1,607
1,601
4%
4%
Other assets
20,268
18,569
12,555
9%
61%
Total Assets
$301,224
$300,180
$212,903
—
41%
Liabilities
Deposits:
Demand
$64,747
$63,928
$41,830
1%
55%
Interest checking
81,784
70,527
57,239
16%
43%
Savings
18,002
18,161
16,110
(1%)
12%
Money market
60,842
65,932
38,748
(8%)
57%
CDs $250,000 or less
11,576
12,708
10,667
(9%)
9%
CDs over $250,000
2,535
2,885
1,975
(12%)
28%
Total deposits
239,486
234,141
166,569
2%
44%
Short-term borrowings
1,200
4,633
5,260
(74%)
(77%)
Accrued taxes, interest and expenses
2,955
3,022
1,943
(2%)
52%
Other liabilities
7,330
6,266
4,347
17%
69%
Long-term debt
16,938
17,636
13,677
(4%)
24%
Total Liabilities
267,909
265,698
191,796
1%
40%
Equity
Common stock
(c)
2,585
2,585
2,051
—
26%
Preferred stock
2,182
2,182
1,770
—
23%
Capital surplus
15,619
15,603
3,813
—
310%
Retained earnings
26,085
25,645
25,057
2%
4%
Accumulated other comprehensive loss
(4,919)
(3,286)
(3,276)
50%
50%
Treasury stock
(8,237)
(8,247)
(8,308)
—
(1%)
Total Equity
33,315
34,482
21,107
(3%)
58%
Total Liabilities and Equity
$301,224
$300,180
$212,903
—
41%
(a) Amortized cost
$47,718
$47,623
$39,617
—
20%
(b) Market values
19,823
18,258
11,506
9%
72%
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized
2,000,000
2,000,000
2,000,000
—
—
Outstanding, excluding treasury
907,367
906,573
660,973
—
—
Treasury
256,872
257,666
262,919
—
—
Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data
As of
(unaudited)
September
June
March
December
September
2026
2026
2026
2025
2025
Assets
Cash and due from banks
$4,086
$4,374
$4,084
$3,499
$2,901
Other short-term investments
16,520
19,350
17,456
18,876
17,215
Available-for-sale debt and other securities
(a)
42,984
44,466
46,161
36,159
36,461
Held-to-maturity securities
(b)
20,862
18,404
16,389
11,368
11,498
Trading debt securities
1,760
1,853
1,669
1,057
1,266
Equity securities
471
495
544
453
287
Loans and leases held for sale
728
866
1,365
733
576
Portfolio loans and leases:
Commercial and industrial loans
86,144
85,736
83,864
52,749
53,947
Commercial mortgage loans
27,486
27,196
27,143
12,228
11,932
Commercial construction loans
8,957
8,459
8,329
5,316
5,326
Commercial leases
3,779
3,489
3,523
3,269
3,218
Total commercial loans and leases
126,366
124,880
122,859
73,562
74,423
Residential mortgage loans
19,895
19,713
19,507
17,652
17,644
Home equity
7,132
6,929
6,735
4,846
4,678
Indirect secured consumer loans
18,196
18,186
18,296
17,964
17,885
Credit card
1,660
1,683
1,658
1,747
1,692
Solar energy installation loans
4,193
4,314
4,465
4,560
4,432
Other consumer loans
2,830
2,823
2,730
2,320
2,376
Total consumer loans
53,906
53,648
53,391
49,089
48,707
Portfolio loans and leases
180,272
178,528
176,250
122,651
123,130
Allowance for loan and lease losses
(2,906)
(2,918)
(2,922)
(2,253)
(2,265)
Portfolio loans and leases, net
177,366
175,610
173,328
120,398
120,865
Bank premises and equipment
3,336
3,343
3,283
2,734
2,655
Goodwill
9,984
9,990
9,966
4,947
4,947
Intangible assets
1,190
1,253
1,233
69
76
Servicing rights
1,669
1,607
1,583
1,598
1,601
Other assets
20,268
18,569
19,978
12,485
12,555
Total Assets
$301,224
$300,180
$297,039
$214,376
$212,903
Liabilities
Deposits:
Demand
$64,747
$63,928
$65,335
$42,647
$41,830
Interest checking
81,784
70,527
72,425
61,155
57,239
Savings
18,002
18,161
18,610
16,155
16,110
Money market
60,842
65,932
62,345
39,285
38,748
CDs $250,000 or less
11,576
12,708
11,807
10,599
10,667
CDs over $250,000
2,535
2,885
3,099
1,978
1,975
Total deposits
239,486
234,141
233,621
171,819
166,569
Short-term borrowings
1,200
4,633
1,289
926
5,260
Accrued taxes, interest and expenses
2,955
3,022
2,628
2,083
1,943
Other liabilities
7,330
6,266
6,642
4,235
4,347
Long-term debt
16,938
17,636
18,753
13,589
13,677
Total Liabilities
267,909
265,698
262,933
192,652
191,796
Equity
Common stock
(c)
2,585
2,585
2,585
2,051
2,051
Preferred stock
2,182
2,182
2,182
1,770
1,770
Capital surplus
15,619
15,603
15,586
3,831
3,813
Retained earnings
26,085
25,645
25,248
25,488
25,057
Accumulated other comprehensive loss
(4,919)
(3,286)
(3,234)
(3,110)
(3,276)
Treasury stock
(8,237)
(8,247)
(8,261)
(8,306)
(8,308)
Total Equity
33,315
34,482
34,106
21,724
21,107
Total Liabilities and Equity
$301,224
$300,180
$297,039
$214,376
$212,903
(a) Amortized cost
$47,718
$47,623
$49,238
$39,107
$39,617
(b) Market values
19,823
18,258
16,341
11,404
11,506
(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
907,367
906,573
905,823
661,198
660,973
Treasury
256,872
257,666
258,416
262,695
262,919
Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
For the Three Months Ended
Year to Date
September
September
September
September
2026
2025
2026
2025
Total Equity, Beginning
$34,482
$21,124
$21,724
$19,645
Net income
866
649
1,832
1,791
Other comprehensive (loss) income, net of tax:
Change in unrealized (losses) gains:
Available-for-sale debt securities
(1,203)
230
(1,365)
890
Qualifying cash flow hedges
(457)
14
(577)
397
Amortization of unrealized losses on securities transferred to held-to-maturity
25
25
71
72
Change in accumulated other comprehensive income related to employee benefit plans
2
1
62
1
Comprehensive income (loss)
(767)
919
23
3,151
Cash dividends declared:
Common stock
(388)
(269)
(1,122)
(770)
Preferred stock
(38)
(37)
(113)
(110)
Impact of Comerica acquisition
—
—
12,676
—
Impact of stock transactions under stock compensation plans, net
26
23
128
70
Shares acquired for treasury
—
(303)
—
(529)
Redemption of preferred stock
—
(350)
—
(350)
Other
—
—
(1)
—
Total Equity, Ending
$33,315
$21,107
$33,315
$21,107
Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate Analysis
For the Three Months Ended
$ in millions
September
June
September
(unaudited)
2026
2026
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)
$86,052
5.89%
$85,260
5.90%
$54,196
6.20%
Commercial mortgage loans
(a)
27,297
5.96%
27,215
5.82%
12,043
6.26%
Commercial construction loans
(a)
8,810
6.49%
8,504
6.50%
5,541
7.17%
Commercial leases
(a)
3,574
4.67%
3,503
4.61%
3,177
4.70%
Total commercial loans and leases
125,733
5.91%
124,482
5.89%
74,957
6.22%
Residential mortgage loans
20,372
4.25%
20,362
4.16%
18,279
4.03%
Home equity
7,023
6.90%
6,830
6.95%
4,580
7.43%
Indirect secured consumer loans
18,182
5.54%
18,239
5.53%
17,729
5.65%
Credit card
1,646
14.07%
1,646
13.69%
1,678
14.26%
Solar energy installation loans
4,244
7.82%
4,384
7.93%
4,355
8.76%
Other consumer loans
2,811
8.64%
2,764
8.66%
2,415
9.25%
Total consumer loans
54,278
5.83%
54,225
5.80%
49,036
5.96%
Total loans and leases
180,011
5.89%
178,707
5.86%
123,993
6.12%
Securities:
Taxable securities
67,170
3.68%
66,532
3.55%
53,244
3.25%
Tax exempt securities
(a)
1,373
3.23%
1,392
3.25%
1,348
3.18%
Other short-term investments
21,469
3.66%
18,358
3.64%
14,915
4.43%
Total interest-earning assets
270,023
5.15%
264,989
5.11%
193,500
5.18%
Cash and due from banks
3,449
3,307
2,485
Other assets
31,565
32,574
18,196
Allowance for loan and lease losses
(2,918)
(2,922)
(2,411)
Total Assets
$302,119
$297,948
$211,770
Liabilities
Interest-bearing liabilities:
Interest checking deposits
$75,025
2.26%
$70,507
2.15%
$56,624
2.72%
Savings deposits
18,037
0.36%
18,430
0.35%
16,376
0.46%
Money market deposits
66,247
2.56%
63,200
2.43%
37,434
2.40%
CDs $250,000 or less
12,102
2.97%
12,403
2.94%
10,841
3.46%
Total interest-bearing core deposits
171,411
2.23%
164,540
2.11%
121,275
2.38%
CDs over $250,000
2,705
3.17%
2,990
3.25%
2,244
4.00%
Total interest-bearing deposits
174,116
2.24%
167,530
2.13%
123,519
2.41%
Federal funds purchased
181
3.69%
160
3.65%
198
4.35%
Securities sold under repurchase agreements
395
1.63%
444
1.69%
376
1.65%
FHLB advances
2,365
3.89%
3,437
3.88%
4,920
4.51%
Derivative collateral and other secured borrowings
93
6.33%
64
7.25%
82
6.13%
Long-term debt
17,513
4.90%
18,817
4.87%
14,001
5.31%
Total interest-bearing liabilities
194,663
2.50%
190,452
2.44%
143,096
2.77%
Demand deposits
64,228
63,976
41,235
Other liabilities
8,890
9,260
6,223
Total Liabilities
267,781
263,688
190,554
Total Equity
34,338
34,260
21,216
Total Liabilities and Equity
$302,119
$297,948
$211,770
Ratios:
Net interest margin (FTE)
(b)
3.34%
3.36%
3.13%
Net interest rate spread (FTE)
(b)
2.65%
2.67%
2.41%
Interest-bearing liabilities to interest-earning assets
72.09%
71.87%
73.95%
(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.
Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate Analysis
Year to Date
$ in millions
September
September
(unaudited)
2026
2025
Average
Average
Average
Average
Balance
Yield/Rate
Balance
Yield/Rate
Assets
Interest-earning assets:
Loans and leases:
Commercial and industrial loans
(a)
$81,586
5.89%
$53,916
6.23%
Commercial mortgage loans
(a)
25,524
5.88%
12,282
6.12%
Commercial construction loans
(a)
8,206
6.48%
5,720
7.09%
Commercial leases
(a)
3,476
4.71%
3,136
4.77%
Total commercial loans and leases
118,792
5.90%
75,054
6.22%
Residential mortgage loans
20,052
4.20%
18,139
3.99%
Home equity
6,643
6.95%
4,396
7.47%
Indirect secured consumer loans
18,175
5.54%
17,156
5.62%
Credit card
1,650
13.90%
1,655
14.44%
Solar energy installation loans
4,380
7.98%
4,282
8.30%
Other consumer loans
2,722
8.69%
2,465
9.24%
Total consumer loans
53,622
5.83%
48,093
5.90%
Total loans and leases
172,414
5.88%
123,147
6.09%
Securities:
Taxable securities
64,128
3.55%
54,441
3.26%
Tax exempt securities
(a)
1,376
3.25%
1,362
3.18%
Other short-term investments
19,858
3.65%
14,050
4.54%
Total interest-earning assets
257,776
5.11%
193,000
5.16%
Cash and due from banks
3,275
2,437
Other assets
30,465
17,911
Allowance for loan and lease losses
(2,843)
(2,383)
Total Assets
$288,673
$210,965
Liabilities
Interest-bearing liabilities:
Interest checking deposits
$70,996
2.20%
$57,103
2.70%
Savings deposits
18,006
0.35%
16,852
0.49%
Money market deposits
61,266
2.47%
36,731
2.41%
CDs $250,000 or less
12,050
3.01%
10,574
3.54%
Total interest-bearing core deposits
162,318
2.16%
121,260
2.38%
CDs over $250,000
2,833
3.27%
2,263
4.17%
Total interest-bearing deposits
165,151
2.18%
123,523
2.41%
Federal funds purchased
173
3.67%
199
4.37%
Securities sold under repurchase agreements
387
1.51%
339
1.27%
FHLB advances
1,975
3.89%
4,888
4.57%
Derivative collateral and other secured borrowings
80
6.97%
85
6.06%
Long-term debt
18,129
4.90%
14,393
5.35%
Total interest-bearing liabilities
185,895
2.46%
143,427
2.78%
Demand deposits
61,356
40,641
Other liabilities
8,505
6,264
Total Liabilities
255,756
190,332
Total Equity
32,917
20,633
Total Liabilities and Equity
$288,673
$210,965
Ratios:
Net interest margin (FTE)
(b)
3.34%
3.10%
Net interest rate spread (FTE)
(b)
2.65%
2.38%
Interest-bearing liabilities to interest-earning assets
72.12%
74.31%
(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.
Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millions
For the Three Months Ended
(unaudited)
September
June
March
December
September
2026
2026
2026
2025
2025
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans
$85,982
$84,967
$73,264
$53,947
$54,170
Commercial mortgage loans
27,263
27,176
21,969
12,079
12,027
Commercial construction loans
8,744
8,437
7,278
5,399
5,541
Commercial leases
3,574
3,503
3,347
3,172
3,177
Total commercial loans and leases
125,563
124,083
105,858
74,597
74,915
Consumer loans:
Residential mortgage loans
19,775
19,626
18,848
17,660
17,656
Home equity
7,023
6,830
6,064
4,769
4,579
Indirect secured consumer loans
18,182
18,239
18,105
17,879
17,729
Credit card
1,646
1,646
1,659
1,694
1,678
Solar energy installation loans
4,244
4,384
4,516
4,486
4,355
Other consumer loans
2,811
2,764
2,582
2,345
2,414
Total consumer loans
53,681
53,489
51,774
48,833
48,411
Total average portfolio loans and leases
$179,244
$177,572
$157,632
$123,430
$123,326
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale
$170
$399
$85
$19
$44
Consumer loans held for sale
597
736
566
698
623
Average loans and leases held for sale
$767
$1,135
$651
$717
$667
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans
$86,144
$85,736
$83,864
$52,749
$53,947
Commercial mortgage loans
27,486
27,196
27,143
12,228
11,932
Commercial construction loans
8,957
8,459
8,329
5,316
5,326
Commercial leases
3,779
3,489
3,523
3,269
3,218
Total commercial loans and leases
126,366
124,880
122,859
73,562
74,423
Consumer loans:
Residential mortgage loans
19,895
19,713
19,507
17,652
17,644
Home equity
7,132
6,929
6,735
4,846
4,678
Indirect secured consumer loans
18,196
18,186
18,296
17,964
17,885
Credit card
1,660
1,683
1,658
1,747
1,692
Solar energy installation loans
4,193
4,314
4,465
4,560
4,432
Other consumer loans
2,830
2,823
2,730
2,320
2,376
Total consumer loans
53,906
53,648
53,391
49,089
48,707
Total portfolio loans and leases
$180,272
$178,528
$176,250
$122,651
$123,130
End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale
$233
$171
$651
$75
$8
Consumer loans held for sale
495
695
714
658
568
Loans and leases held for sale
$728
$866
$1,365
$733
$576
Operating lease equipment
$454
$417
$416
$374
$379
Loans and Leases Serviced for Others
(a)
Commercial and industrial loans
$2,144
$1,838
$1,801
$1,290
$1,206
Commercial mortgage loans
2,718
2,193
518
501
558
Commercial construction loans
769
292
318
291
304
Commercial leases
777
817
821
853
764
Residential mortgage loans
85,091
85,907
86,733
87,827
89,639
Solar energy installation loans
622
643
665
686
692
Other consumer loans
76
81
86
92
98
Total loans and leases serviced for others
92,197
91,771
90,942
91,540
93,261
Total loans and leases owned or serviced
$273,651
$271,582
$268,973
$215,298
$217,346
(a)
Fifth Third sells certain loans and leases and obtains servicing responsibilities.
Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millions
As of
(unaudited)
September
June
March
December
September
2026
(a)
2026
2026
2025
2025
Regulatory Capital
CET1 capital
$25,002
$24,508
$24,136
$18,099
$17,645
Additional tier 1 capital
2,182
2,182
2,182
1,770
1,770
Tier 1 capital
27,184
26,690
26,318
19,869
19,415
Tier 2 capital
4,099
4,173
4,179
3,197
3,204
Total regulatory capital
$31,283
$30,863
$30,497
$23,066
$22,619
Risk-weighted assets
$249,506
$246,820
$243,964
$167,431
$166,999
Ratios
Average total Bancorp shareholders' equity as a percent of average assets
11.37%
11.50%
11.34%
10.11%
10.02%
Regulatory Capital Ratios
Fifth Third Bancorp
CET1 capital
10.02%
9.93%
9.89%
10.81%
10.57%
Tier 1 risk-based capital
10.90%
10.81%
10.79%
11.87%
11.63%
Total risk-based capital
12.54%
12.50%
12.50%
13.78%
13.54%
Leverage
9.22%
9.20%
10.22%
9.41%
9.24%
Fifth Third Bank, National Association
Tier 1 risk-based capital
11.73%
11.70%
11.73%
13.09%
12.95%
Total risk-based capital
12.96%
12.95%
13.00%
14.33%
14.19%
Leverage
9.96%
9.99%
11.16%
10.41%
10.31%
(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)
September
June
March
December
September
2026
2026
2026
2025
2025
Average portfolio loans and leases:
Commercial and industrial loans
$85,982
$84,967
$73,264
$53,947
$54,170
Commercial mortgage loans
27,263
27,176
21,969
12,079
12,027
Commercial construction loans
8,744
8,437
7,278
5,399
5,541
Commercial leases
3,574
3,503
3,347
3,172
3,177
Total commercial loans and leases
125,563
124,083
105,858
74,597
74,915
Residential mortgage loans
19,775
19,626
18,848
17,660
17,656
Home equity
7,023
6,830
6,064
4,769
4,579
Indirect secured consumer loans
18,182
18,239
18,105
17,879
17,729
Credit card
1,646
1,646
1,659
1,694
1,678
Solar energy installation loans
4,244
4,384
4,516
4,486
4,355
Other consumer loans
2,811
2,764
2,582
2,345
2,414
Total consumer loans
53,681
53,489
51,774
48,833
48,411
Total average portfolio loans and leases
$179,244
$177,572
$157,632
$123,430
$123,326
Losses charged-off:
Commercial and industrial loans
($84)
($73)
($77)
($61)
($280)
Commercial mortgage loans
—
—
—
(7)
(2)
Commercial construction loans
—
—
—
—
—
Commercial leases
—
—
—
(1)
—
Total commercial loans and leases
(84)
(73)
(77)
(69)
(282)
Residential mortgage loans
(1)
(1)
—
—
—
Home equity
(1)
(1)
(2)
(2)
(1)
Indirect secured consumer loans
(35)
(36)
(40)
(41)
(34)
Credit card
(19)
(20)
(19)
(20)
(20)
Solar energy installation loans
(29)
(29)
(26)
(22)
(20)
Other consumer loans
(23)
(21)
(23)
(23)
(25)
Total consumer loans
(108)
(108)
(110)
(108)
(100)
Total losses charged-off
($192)
($181)
($187)
($177)
($382)
Recoveries of losses previously charged-off:
Commercial and industrial loans
$9
$8
$8
$17
$6
Commercial mortgage loans
6
—
—
1
1
Commercial construction loans
—
1
—
—
—
Commercial leases
—
—
—
—
—
Total commercial loans and leases
15
9
8
18
7
Residential mortgage loans
1
1
—
1
1
Home equity
2
1
2
1
2
Indirect secured consumer loans
18
18
16
14
16
Credit card
5
5
5
5
4
Solar energy installation loans
6
4
3
5
4
Other consumer loans
6
8
9
8
9
Total consumer loans
38
37
35
34
36
Total recoveries of losses previously charged-off
$53
$46
$43
$52
$43
Net losses charged-off:
Commercial and industrial loans
($75)
($65)
($69)
($44)
($274)
Commercial mortgage loans
6
—
—
(6)
(1)
Commercial construction loans
—
1
—
—
—
Commercial leases
—
—
—
(1)
—
Total commercial loans and leases
(69)
(64)
(69)
(51)
(275)
Residential mortgage loans
—
—
—
1
1
Home equity
1
—
—
(1)
1
Indirect secured consumer loans
(17)
(18)
(24)
(27)
(18)
Credit card
(14)
(15)
(14)
(15)
(16)
Solar energy installation loans
(23)
(25)
(23)
(17)
(16)
Other consumer loans
(17)
(13)
(14)
(15)
(16)
Total consumer loans
(70)
(71)
(75)
(74)
(64)
Total net losses charged-off
(a)
($139)
($135)
($144)
($125)
($339)
Net losses charged-off as a percent of average portfolio loans and leases (annualized):
Commercial and industrial loans
0.35%
0.31%
0.38%
0.32%
2.01%
Commercial mortgage loans
(0.09%)
(0.01%)
—
0.21%
0.04%
Commercial construction loans
(0.01%)
(0.02%)
(0.02%)
—
—
Commercial leases
—
(0.01%)
—
0.16%
(0.04%)
Total commercial loans and leases
0.22%
0.21%
0.26%
0.27%
1.46%
Residential mortgage loans
—
—
(0.01%)
(0.01%)
(0.02%)
Home equity
(0.03%)
(0.02%)
0.01%
0.06%
(0.05%)
Indirect secured consumer loans
0.37%
0.40%
0.54%
0.59%
0.40%
Credit card
3.45%
3.60%
3.51%
3.62%
3.70%
Solar energy installation loans
2.18%
2.25%
2.03%
1.45%
1.47%
Other consumer loans
2.34%
1.95%
2.19%
2.46%
2.51%
Total consumer loans
0.52%
0.53%
0.58%
0.59%
0.52%
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.31%
0.30%
0.37%
0.40%
1.09%
(a) Excludes net charge-offs of $100 million which were taken at the time of acquisition.
Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions
For the Three Months Ended
(unaudited)
September
June
March
December
September
2026
2026
2026
2025
2025
Allowance for Credit Losses
Allowance for loan and lease losses, beginning
$2,918
$2,922
$2,253
$2,265
$2,412
Total net losses charged-off
(e)
(139)
(135)
(144)
(125)
(339)
Provision for loan and lease losses
127
131
152
113
192
Allowance on PCD loans and leases at acquisition
—
(1)
180
—
—
Allowance on PSLs at acquisition
—
1
481
—
—
Allowance for loan and lease losses, ending
$2,906
$2,918
$2,922
$2,253
$2,265
Reserve for unfunded commitments, beginning
$230
$232
$157
$151
$146
(Benefit from) provision for the reserve for unfunded commitments
(5)
(2)
75
6
5
Reserve for unfunded commitments, ending
$225
$230
$232
$157
$151
Components of allowance for credit losses:
Allowance for loan and lease losses
$2,906
$2,918
$2,922
$2,253
$2,265
Reserve for unfunded commitments
225
230
232
157
151
Total allowance for credit losses
$3,131
$3,148
$3,154
$2,410
$2,416
As of
September
June
March
December
September
2026
2026
2026
2025
2025
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans
$449
$455
$417
$393
$393
Commercial mortgage loans
141
94
94
34
42
Commercial construction loans
64
62
62
—
—
Commercial leases
4
4
—
—
—
Residential mortgage loans
159
176
164
149
142
Home equity
135
131
104
71
72
Indirect secured consumer loans
61
62
58
61
61
Credit card
29
29
30
29
29
Solar energy installation loans
23
23
26
22
22
Other consumer loans
5
5
5
8
7
Total nonaccrual portfolio loans and leases
1,070
1,041
960
767
768
Repossessed property
9
10
11
11
12
OREO
(d)
81
24
28
19
21
Total nonperforming portfolio loans and leases and OREO
1,160
1,075
999
797
801
Nonaccrual loans held for sale
162
167
141
70
4
Total nonperforming assets
$1,322
$1,242
$1,140
$867
$805
Loans and leases 90 days past due (accrual):
Commercial and industrial loans
$5
$4
$3
$2
$2
Commercial mortgage loans
4
1
19
—
—
Commercial construction loans
—
—
2
1
—
Commercial leases
—
—
1
—
—
Total commercial loans and leases
9
5
25
3
2
Residential mortgage loans
(c)
16
11
7
10
11
Credit card
16
16
17
17
16
Other consumer loans
1
1
—
—
—
Total consumer loans
33
28
24
27
27
Total loans and leases 90 days past due (accrual)
(b)
$42
$33
$49
$30
$29
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)
0.31%
0.30%
0.37%
0.40%
1.09%
Allowance for credit losses:
As a percent of portfolio loans and leases
1.74%
1.76%
1.79%
1.96%
1.96%
As a percent of nonperforming portfolio loans and leases
(a)
292%
303%
328%
314%
314%
As a percent of nonperforming portfolio assets
(a)
270%
293%
316%
302%
302%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases
(a)
0.59%
0.58%
0.54%
0.62%
0.62%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO
(a)
0.64%
0.60%
0.57%
0.65%
0.65%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property
0.73%
0.69%
0.64%
0.70%
0.65%
(a) Excludes nonaccrual loans held for sale.
(b) Excludes loans held for sale.
(c) Excludes government guaranteed residential mortgage loans.
(d) Includes branch-related real estate no longer intended to be used for banking purposes.
(e) Excludes net charge-offs of $100 million which were taken 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 earnings per share," “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 that 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)
September
June
March
December
September
2026
2026
2026
2025
2025
Net interest income
$2,271
$2,215
$1,934
$1,529
$1,520
Add: Taxable equivalent adjustment
5
5
5
4
5
Net interest income (FTE) (a)
2,276
2,220
1,939
1,533
1,525
Net interest income (annualized) (b)
9,010
8,884
7,843
6,066
6,030
Net interest income (FTE) (annualized) (c)
9,030
8,904
7,864
6,082
6,050
Interest income
3,498
3,372
2,972
2,468
2,519
Add: Taxable equivalent adjustment
5
5
5
4
5
Interest income (FTE)
3,503
3,377
2,977
2,472
2,524
Interest income (FTE) (annualized) (d)
13,898
13,545
12,073
9,807
10,014
Interest expense (annualized) (e)
4,868
4,641
4,210
3,725
3,963
Average interest-earning assets (f)
270,023
264,989
237,961
194,144
193,500
Average interest-bearing liabilities (g)
194,663
190,452
172,326
143,518
143,096
Net interest margin (b) / (f)
3.34 %
3.35 %
3.30 %
3.12 %
3.12 %
Net interest margin (FTE) (c) / (f)
3.34 %
3.36 %
3.30 %
3.13 %
3.13 %
Net interest rate spread (FTE) (d) / (f) - (e) / (g)
2.65 %
2.67 %
2.63 %
2.45 %
2.41 %
Income before income taxes
$1,108
$1,036
$207
$912
$837
Add: Taxable equivalent adjustment
5
5
5
4
5
Income before income taxes (FTE)
1,113
1,041
212
916
842
Net income available to common shareholders
828
763
128
699
608
Add: Intangible amortization, net of tax
48
48
34
5
5
Tangible net income available to common shareholders (h)
876
811
162
704
613
Tangible net income available to common shareholders (annualized) (i)
3,475
3,253
657
2,793
2,432
Average Bancorp shareholders
’
equity
34,338
34,260
30,108
21,527
21,216
Less:Average preferred stock
(2,182)
(2,182)
(2,040)
(1,770)
(2,112)
Average goodwill
(9,976)
(9,973)
(8,686)
(4,947)
(4,937)
Average intangible assets
(1,221)
(1,257)
(841)
(72)
(77)
Average tangible common equity, including AOCI (j)
20,959
20,848
18,541
14,738
14,090
Less:Average AOCI
3,813
3,376
3,080
3,137
3,520
Average tangible common equity, excluding AOCI (k)
24,772
24,224
21,621
17,875
17,610
Total Bancorp shareholders
’
equity
33,315
34,482
34,106
21,724
21,107
Less:Preferred stock
(2,182)
(2,182)
(2,182)
(1,770)
(1,770)
Goodwill
(9,984)
(9,990)
(9,966)
(4,947)
(4,947)
Intangible assets
(1,190)
(1,253)
(1,233)
(69)
(76)
Tangible common equity, including AOCI (l)
19,959
21,057
20,725
14,938
14,314
Less:AOCI
4,919
3,286
3,234
3,110
3,276
Tangible common equity, excluding AOCI (m)
24,878
24,343
23,959
18,048
17,590
Add:Preferred stock
2,182
2,182
2,182
1,770
1,770
Tangible equity (n)
27,060
26,525
26,141
19,818
19,360
Total assets
301,224
300,180
297,039
214,376
212,903
Less:Goodwill
(9,984)
(9,990)
(9,966)
(4,947)
(4,947)
Intangible assets
(1,190)
(1,253)
(1,233)
(69)
(76)
Tangible assets, including AOCI (o)
290,050
288,937
285,840
209,360
207,880
Less:AOCI, before tax
6,472
4,324
4,255
4,092
4,311
Tangible assets, excluding AOCI (p)
$296,522
$293,261
$290,095
$213,452
$212,191
Common shares outstanding (q)
907
907
906
661
661
Tangible equity (n) / (p)
9.13%
9.04%
9.01%
9.28%
9.12%
Tangible common equity (excluding AOCI) (m) / (p)
8.39%
8.30%
8.26%
8.46%
8.29%
Tangible common equity (including AOCI) (l) / (o)
6.88%
7.29%
7.25%
7.14%
6.89%
Tangible book value per share (including AOCI) (l) / (q)
$22.01
$23.22
$22.88
$22.60
$21.66
Tangible book value per share (excluding AOCI) (m) / (q)
$27.43
$26.84
$26.44
$27.30
$26.61
Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millions
For the Three Months Ended
(unaudited)
September
June
September
2026
2026
2025
Net income (r)
$866
$801
$649
Net income (annualized) (s)
3,436
3,213
2,575
Adjustments (pre-tax items)
Merger-related charges
225
203
—
Interchange litigation matters
34
2
27
Technology-related asset impairments
19
7
—
Other securities losses/(gains), net
5
(30)
(10)
Securities repositioning losses
—
10
—
Severance expense
—
7
—
FDIC special assessment
—
—
(6)
Non-qualified deferred compensation expense/(benefit)
(6)
30
11
Adjustments, pre-tax
277
229
22
Applicable income tax expense on adjustments
67
54
6
Adjustments, after-tax (t)
(a)(b)
210
175
16
Noninterest income (u)
1,008
1,059
781
Interchange litigation matters
29
1
18
Merger-related charges
10
—
—
Securities repositioning losses
—
10
—
Noninterest income excluding certain item(s)
1,047
1,070
799
Other securities losses/(gains), net
5
(30)
(10)
Adjusted noninterest income, excluding certain items and securities losses (v)
1,052
1,040
789
Noninterest expense (w)
2,049
2,109
1,267
Merger-related charges
(215)
(203)
—
Technology-related asset impairments
(19)
(7)
—
Interchange litigation matters
(5)
(1)
(9)
Severance expense
—
(7)
—
FDIC special assessment
—
—
6
Noninterest expense excluding certain item(s)
1,810
1,891
1,264
Non-qualified deferred compensation (expense)/benefit
6
(30)
(11)
Adjusted noninterest expense, excluding certain items and non-qualified deferred compensation (x)
1,816
1,861
1,253
Adjusted net income (r) + (t)
1,076
976
665
Adjusted net income (annualized) (y)
4,269
3,915
2,638
Adjusted tangible net income available to common shareholders (h) + (t)
1,086
986
629
Adjusted tangible net income available to common shareholders (annualized) (z)
4,309
3,955
2,495
Average assets (aa)
$302,119
$297,948
$211,770
Return on average tangible common equity (i) / (j)
16.6%
15.6%
17.3%
Return on average tangible common equity excluding AOCI (i) / (k)
14.0%
13.4%
13.8%
Adjusted return on average tangible common equity, including AOCI (z) / (j)
20.6%
19.0%
17.7%
Adjusted return on average tangible common equity, excluding AOCI (z) / (k)
17.4%
16.3%
14.2%
Return on average assets (s) / (aa)
1.14%
1.08%
1.21%
Adjusted return on average assets (y) / (aa)
1.41%
1.31%
1.25%
Efficiency ratio (FTE) (w) / [(a) + (u)]
62.4%
64.3%
54.9%
Adjusted efficiency ratio (x) / [(a) + (v)]
54.6%
57.1%
54.1%
Total revenue (FTE) (a) + (u)
$3,284
$3,279
$2,306
Adjusted total revenue (FTE) (a) + (v)
$3,328
$3,260
$2,314
Pre-provision net revenue (PPNR) (a) + (u) - (w)
$1,235
$1,170
$1,039
Adjusted pre-provision net revenue (PPNR) (a) + (v) - (x)
$1,512
$1,399
$1,061
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 September 30, 2026
Commercial Banking
Consumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Income Statement Data
Net interest income (FTE)
(a)
$1,147
$1,274
$112
$(257)
$2,276
(Provision for) benefit from credit losses
(80)
(89)
(7)
54
(122)
Net interest income after (provision for) benefit from credit losses
1,067
1,185
105
(203)
2,154
Noninterest income
512
326
183
(13)
1,008
Noninterest expense
(761)
(855)
(182)
(251)
(2,049)
Income (loss) before income taxes (FTE)
(a)
$818
$656
$106
$(467)
$1,113
Average Balance Sheet Data
Total loans and leases
$114,568
$55,931
$9,504
$8
$180,011
Core deposits
$99,167
$121,371
$12,869
$2,232
$235,639
For the three months ended June 30, 2026
Commercial Banking
Consumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Income Statement Data
Net interest income (FTE)
(a)
$1,115
$1,237
$113
$(245)
$2,220
(Provision for) benefit from credit losses
(25)
(82)
4
(26)
(129)
Net interest income after (provision for) benefit from credit losses
1,090
1,155
117
(271)
2,091
Noninterest income
507
321
186
45
1,059
Noninterest expense
(757)
(860)
(185)
(307)
(2,109)
Income (loss) before income taxes (FTE)
(a)
$840
$616
$118
$(533)
$1,041
Average Balance Sheet Data
Total loans and leases
$113,297
$55,675
$9,709
$26
$178,707
Core deposits
$95,241
$117,628
$12,961
$2,686
$228,516
For the three months ended March 31, 2026
Commercial Banking
Consumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Income Statement Data
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
Average Balance Sheet Data
Total loans and leases
$96,110
$54,165
$7,970
$38
$158,283
Core deposits
$85,160
$107,247
$12,069
$2,069
$206,545
For the three months ended December 31, 2025
Commercial Banking
Consumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Income Statement Data
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
Average Balance Sheet Data
Total loans and leases
$67,425
$52,116
$4,590
$16
$124,147
Core deposits
$62,984
$92,622
$9,567
$1,263
$166,436
For the three months ended September 30, 2025
Commercial Banking
Consumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Income Statement Data
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
Average Balance Sheet Data
Total loans and leases
$68,007
$51,367
$4,603
$16
$123,993
Core deposits
$60,854
$91,110
$9,288
$1,258
$162,510
(a) Includes taxable equivalent adjustments of $5 million for the three months ended September 30, 2026, 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.
Category: Earnings
Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693
Source: Fifth Third Bancorp