# FIFTH THIRD BANCORP (FITB)

Informational only - not investment advice.

CIK: 0000035527
SIC: 6022 State Commercial Banks
SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6022 State Commercial Banks](/industry/6022/)
Latest 10-K filed: 2026-02-24
SEC page: https://www.sec.gov/edgar/browse/?CIK=35527
Filing source: https://www.sec.gov/Archives/edgar/data/35527/000003552726000124/fitb-20251231.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-02-24 · accession 0000035527-26-000124 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000035527.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 9,903,000,000 USD | 2025 | verified |
| Net income | 2,522,000,000 USD | 2025 | verified |
| Assets | 214,376,000,000 USD | 2025 | verified |
| Free cash flow | 3,930,000,000 USD | 2025 | computed |
| Net margin | 25.47% | 2025 | computed |
| Revenue YoY | -5.02% | 2025 | computed |
| ROE | 11.61% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

Peer groups: [Regional banks](/compare/regional-banks/) · SIC 6022 State Commercial Banks

No market price, no rating, no forecast on this site. Not investment advice.

## Peer comparisons including FITB

- Regional banks: [peer review](/compare/regional-banks/) · [market-risk page](/compare/regional-banks/risk/)

### Peer percentile fingerprint

| Ratio | FITB | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 25.5% | 21.9% | 68 | 149 |
| Revenue growth | -5.0% | 6.0% | 5 | 148 |
| FCF margin | 39.7% | 23.8% | 91 | 133 |
| ROE | 11.6% | 9.6% | 72 | 149 |
| ROA | 1.2% | 1.1% | 63 | 149 |
| Liabilities / equity | 8.87 | 8.04 | 69 | 149 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6022 State Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 9903000000 | USD | 2025 | 2026-02-24 |
| Net income | 2522000000 | USD | 2025 | 2026-02-24 |
| Assets | 214376000000 | USD | 2025 | 2026-02-24 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-24. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000035527.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2008 | 2009 | 2012 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue |  |  |  | 4,193,000,000 | 4,489,000,000 | 5,183,000,000 | 6,254,000,000 | 5,572,000,000 | 5,211,000,000 | 6,587,000,000 | 9,760,000,000 | 10,426,000,000 | 9,903,000,000 |
| Net income |  |  |  | 1,547,000,000 | 2,180,000,000 | 2,193,000,000 | 2,512,000,000 | 1,427,000,000 | 2,770,000,000 | 2,446,000,000 | 2,349,000,000 | 2,314,000,000 | 2,522,000,000 |
| Diluted EPS |  |  |  | 1.91 | 2.81 | 3.06 | 3.33 | 1.83 | 3.73 | 3.35 | 3.22 | 3.14 | 3.53 |
| Operating cash flow |  |  | 2,557,000,000 |  | 1,480,000,000 | 2,856,000,000 | 1,824,000,000 | 371,000,000 | 2,704,000,000 | 6,428,000,000 | 4,509,000,000 | 2,824,000,000 | 4,514,000,000 |
| Capital expenditures |  |  |  | 186,000,000 | 200,000,000 | 192,000,000 | 243,000,000 | 305,000,000 | 309,000,000 | 348,000,000 | 491,000,000 | 414,000,000 | 584,000,000 |
| Dividends paid | 687,000,000 | 247,000,000 |  |  |  | 565,000,000 | 753,000,000 | 858,000,000 | 897,000,000 | 927,000,000 | 1,060,000,000 | 1,176,000,000 | 1,163,000,000 |
| Share buybacks |  |  |  | 661,000,000 | 1,605,000,000 | 1,453,000,000 | 1,763,000,000 | 0.00 | 1,393,000,000 | 100,000,000 | 200,000,000 | 625,000,000 | 525,000,000 |
| Assets |  |  |  | 142,080,000,000 | 142,081,000,000 | 146,069,000,000 | 169,369,000,000 | 204,680,000,000 | 211,116,000,000 | 207,452,000,000 | 214,574,000,000 | 212,927,000,000 | 214,376,000,000 |
| Liabilities |  |  |  | 125,945,000,000 | 125,861,000,000 | 129,819,000,000 | 148,166,000,000 | 181,569,000,000 | 188,906,000,000 | 190,125,000,000 | 195,402,000,000 | 193,282,000,000 | 192,652,000,000 |
| Stockholders' equity |  |  |  | 16,205,000,000 | 16,200,000,000 | 16,250,000,000 | 21,203,000,000 | 23,111,000,000 | 22,210,000,000 | 17,327,000,000 | 19,172,000,000 | 19,645,000,000 | 21,724,000,000 |
| Free cash flow |  |  |  |  | 1,280,000,000 | 2,664,000,000 | 1,581,000,000 | 66,000,000 | 2,395,000,000 | 6,080,000,000 | 4,018,000,000 | 2,410,000,000 | 3,930,000,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2008 | 2009 | 2012 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin |  |  |  | 36.89% | 48.56% | 42.31% | 40.17% | 25.61% | 53.16% | 37.13% | 24.07% | 22.19% | 25.47% |
| Return on equity |  |  |  | 9.55% | 13.46% | 13.50% | 11.85% | 6.17% | 12.47% | 14.12% | 12.25% | 11.78% | 11.61% |
| Return on assets |  |  |  | 1.09% | 1.53% | 1.50% | 1.48% | 0.70% | 1.31% | 1.18% | 1.09% | 1.09% | 1.18% |
| Liabilities / equity |  |  |  | 7.77 | 7.77 | 7.99 | 6.99 | 7.86 | 8.51 | 10.97 | 10.19 | 9.84 | 8.87 |

## As-reported value updates

2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/FITB/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-04. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000035527.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 0.91 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | 0.78 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 0.82 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 2,529,000,000 | 660,000,000 | 0.91 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 2,647,000,000 | 530,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-31 | 2,608,000,000 | 520,000,000 | 0.70 | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 2,620,000,000 | 601,000,000 | 0.81 | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 2,669,000,000 | 573,000,000 | 0.78 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 2,529,000,000 | 620,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-31 | 2,432,000,000 | 515,000,000 | 0.71 | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 2,484,000,000 | 628,000,000 | 0.88 | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 2,519,000,000 | 649,000,000 | 0.91 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 2,468,000,000 | 731,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-31 | 2,972,000,000 | 165,000,000 | 0.15 | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 3,372,000,000 | 801,000,000 | 0.83 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from FITB's latest 10-K: [/company/FITB/business/](/company/FITB/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from FITB's latest 10-K: [/company/FITB/risk-factors/](/company/FITB/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/35527/000003552726000202/fitb-20260630.htm

Extracted from a substantive MD&A body after the formal Item 2 span was a TOC or reference stub.
Confidence: high
Filing date: 2026-08-04
Report date: 2026-06-30

OVERVIEW

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. At June 30, 2026, the Bancorp had $300 billion in assets and operated 1,500 full-service banking centers and 2,648 Fifth Third ATMs in fifteen states throughout its retail footprint. The Bancorp reports on three business segments: Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management.

This overview of MD&A highlights selected information in the financial results of the Bancorp and may not contain all of the information that is important to you. For a more complete understanding of trends, events, commitments, uncertainties, liquidity, capital resources and critical accounting policies and estimates, you should carefully read this entire document as well as the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025. Each of these items could have an impact on the Bancorp’s financial condition, results of operations and cash flows. In addition, refer to the Glossary of Abbreviations and Acronyms in this report for a list of terms included as a tool for the reader of this Quarterly Report on Form 10-Q. The abbreviations and acronyms identified therein are used throughout this MD&A, as well as the Condensed Consolidated Financial Statements and Notes to Condensed Consolidated Financial Statements.

Net interest income, net interest margin, net interest rate spread and the efficiency ratio are presented in MD&A on an FTE basis. The FTE basis adjusts for the tax-favored status of income from certain loans and leases 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 as it provides a relevant comparison between taxable and non-taxable amounts. The FTE basis for presenting net interest income is a non-GAAP measure. For further information, refer to the Non-GAAP Financial Measures section of MD&A.

The Bancorp’s revenues are dependent on both net interest income and noninterest income. For both the three and six months ended June 30, 2026, net interest income on an FTE basis and noninterest income provided 68% and 32% of total revenue, respectively. The Bancorp derives the majority of its revenues within the U.S. from customers domiciled in the U.S. Changes in interest rates, credit quality, economic trends and the capital markets are primary factors that drive the performance of the Bancorp. As discussed later in the Risk Management section of MD&A, risk identification, measurement, monitoring, control and reporting are important to the management of risk and to the financial performance and capital strength of the Bancorp.

Net interest income is the difference between interest income earned on assets such as loans, leases and securities, and interest expense incurred on liabilities such as deposits, short-term borrowings and long-term debt. Net interest income is affected by the general level of interest rates, the relative level of short-term and long-term interest rates, changes in interest rates and changes in the amount and composition of interest-earning assets and interest-bearing liabilities.

Noninterest income is derived from wealth and asset management revenue, commercial payments revenue, consumer banking revenue, capital markets fees, commercial banking revenue, mortgage banking net revenue, other noninterest income and net securities gains or losses. Noninterest expense includes compensation and benefits, technology and communications, net occupancy expense, card and processing expense, equipment expense, marketing expense, loan and lease expense and other noninterest expense.

Acquisition of Comerica Incorporated

On February 1, 2026, Fifth Third Bancorp closed the merger with Comerica Incorporated (“Comerica”) in an all-stock transaction valued at approximately $12.7 billion. Under the terms of the merger agreement, each outstanding share of Comerica’s common stock was converted into the right to receive 1.8663 shares of Fifth Third Bancorp common stock and each outstanding share of Comerica’s preferred stock was converted into the right to receive one share of a newly created series of preferred stock with comparable terms issued by the Bancorp.

On February 1, 2026, the Bancorp issued 16,000,000 depository shares, representing 400,000 shares of 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series M to the holders of Comerica’s 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series B that were outstanding on January 30, 2026. Each Series M share has a $1,000 liquidation preference and accrues dividends on a non-cumulative quarterly basis, initially beginning on January 1, 2026 with a first dividend payment date of April 1, 2026. Subject to any required regulatory approval, the Bancorp may redeem the Series M preferred shares at its option, in whole or in part, on any dividend payment date on or after October 1, 2030 and may redeem, in whole but not in part, within 90 days following a regulatory capital event. The Series M preferred shares are not convertible into Bancorp common shares or any other securities.

The Bancorp’s financial condition and results of operations as of, and for the three and six months ended, June 30, 2026, were impacted by activity attributable to the Comerica acquisition and the integration of acquired operations, which affects the comparability of results between periods presented herein.

3

[[GREPCENT_TABLE]]
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[[/GREPCENT_TABLE]]

Refer to Note 4 of the Notes to Condensed Consolidated Financial Statements for more information.

Senior Notes Transactions

On January 29, 2026, the Bancorp issued and sold $1.0 billion of fixed-rate/floating-rate senior notes which will mature on April 29, 2032. The senior notes will bear interest at a rate of 4.566% per annum to, but excluding, April 29, 2031. From, and including, April 29, 2031, to, but excluding, the maturity date, the senior notes will bear interest at a rate of compounded SOFR plus 0.95%.

On January 29, 2026, the Bancorp issued and sold $1.0 billion of fixed-rate/floating-rate senior notes which will mature on January 29, 2037. The senior notes will bear interest at a rate of 5.141% per annum to, but excluding, January 29, 2036. From, and including, January 29, 2036 to, but excluding, the maturity date, the senior notes will bear interest at a rate of compounded SOFR plus 1.24%.

On June 10, 2026, the Bancorp completed the previously announced exchange offer with respect to the $550 million of 4.00% fixed-rate senior notes due February 1, 2029, originally issued by Comerica Incorporated and assumed by Fifth Third Financial Corporation, as successor by merger, pursuant to which approximately $335 million of such notes were exchanged for new senior notes issued by the Bancorp and cash consideration. The new senior notes have substantially identical terms to the prior notes including the same interest rate of 4.00% and maturity date of February 1, 2029.

On June 10, 2026, the Bancorp completed the previously announced exchange offer with respect to the $1.0 billion of fixed-rate/floating-rate senior notes due January 30, 2030, originally issued by Comerica Incorporated and assumed by Fifth Third Financial Corporation, as successor by merger, pursuant to which approximately $938 million of such notes were exchanged for new senior notes issued by the Bancorp and cash consideration. The new senior notes have substantially identical terms to the prior notes including the same interest rate of 5.982% and maturity date of January 30, 2030.

Refer to Note 14 of the Notes to Condensed Consolidated Financial Statements for more information.

Category III Transition

In the third quarter of 2026, the Bancorp will begin the transition from Category IV to Category III compliance standards. Under Category III standards, the Bancorp will be subject to additional regulatory requirements and oversight, including enhanced liquidity monitoring through compliance with the liquidity coverage ratio and net stable funding ratio, while additional reporting requirements including compliance with single counterparty credit limits will need to be met. The Bancorp will continue to be required to develop and maintain an annual capital plan, which must be approved by the Board of Directors; however, as a Category III institution, it will transition to annual supervisory stress testing, including the recalibration of its stress capital buffer, from the Category IV biennial requirement.

Proposed Updates to Regulatory Requirements for Capital

On March 19, 2026, the U.S. banking agencies issued notices of proposed rulemaking to revise the U.S. regulatory capital framework to finalize the post-crisis Basel III reforms. Comments were due by June 18, 2026 with final implementation expected to include a multi-year transition. The Bancorp and the Bank would not be required to adopt the new expanded risk‑based approach under the proposed rules, although the proposed rules would permit an election to adopt the expanded risk‑based approach. However, if implemented as proposed, the rules would impact how the Bancorp and the Bank calculate capital requirements. Effective dates for the proposed rules were not included in the proposal. The Bancorp is in the process of evaluating this proposed rulemaking and assessing its potential impact.

Key Performance Indicators

The Bancorp, as a banking institution, utilizes various key indicators of financial condition and operating results in managing and monitoring the performance of the business. In addition to traditional financial metrics, such as revenue and expense trends, the Bancorp monitors other financial measures that assist in evaluating growth trends, capital and liquidity strength and operational efficiencies. The Bancorp analyzes these key performance indicators against its past performance, its forecasted performance and with the performance of its peer banking institutions. These indicators may change from time to time as the operating environment and businesses change. There have been no material changes made during the six months ended June 30, 2026 to the Bancorp’s key performance indicators. Refer to the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025 for more information.

4

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[[/GREPCENT_TABLE]]

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/35527/000003552726000124/fitb-20251231.htm
Complete FY 2025 MD&A: /company/FITB/mda/fy2025/

Extracted from a later financial-section MD&A body after the formal Item 7 span was a short reference.
Confidence: high
Filing date: 2026-02-24
Report date: 2025-12-31

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following is Management’s Discussion and Analysis of Financial Condition and Results of Operations of certain significant factors that have affected Fifth Third Bancorp’s (the “Bancorp” or “Fifth Third”) financial condition and results of operations during the periods included in the Consolidated Financial Statements, which are a part of this filing. Reference to the Bancorp incorporates the parent holding company and all consolidated subsidiaries. The Bancorp’s banking subsidiary is referred to as the Bank.

OVERVIEW

This overview of MD&A highlights selected information in the financial results of the Bancorp and may not contain all of the information that is important to you. For a more complete understanding of trends, events, commitments, uncertainties, liquidity, capital resources and critical accounting policies and estimates, you should carefully read this entire document. Each of these items could have an impact on the Bancorp’s financial condition, results of operations and cash flows. In addition, refer to the Glossary of Abbreviations and Acronyms in this report for a list of terms included as a tool for the reader of this Annual Report on Form 10-K. The abbreviations and acronyms identified therein are used throughout this MD&A, as well as the Consolidated Financial Statements and Notes to Consolidated Financial Statements.

Net interest income, net interest margin, net interest rate spread and the efficiency ratio are presented in MD&A on an FTE basis. The FTE basis adjusts for the tax-favored status of income from certain loans and leases 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 as it provides a relevant comparison between taxable and non-taxable amounts. The FTE basis for presenting net interest income is a non-GAAP measure. For further information, refer to the Non-GAAP Financial Measures section of MD&A.

The Bancorp’s revenues are dependent on both net interest income and noninterest income. For the year ended December 31, 2025, net interest income on an FTE basis and noninterest income provided 66% and 34% of total revenue, respectively. The Bancorp derives the majority of its revenues within the U.S. from customers domiciled in the U.S. Changes in interest rates, credit quality, economic trends and the capital markets are primary factors that drive the performance of the Bancorp. As discussed later in the Risk Management section of MD&A, risk identification, measurement, monitoring, control and reporting are important to the management of risk and to the financial performance and capital strength of the Bancorp.

Net interest income is the difference between interest income earned on assets such as loans, leases and securities, and interest expense incurred on liabilities such as deposits, other short-term borrowings and long-term debt. Net interest income is affected by the general level of interest rates, the relative level of short-term and long-term interest rates, changes in interest rates and changes in the amount and composition of interest-earning assets and interest-bearing liabilities. Generally, the rates of interest the Bancorp earns on its assets and pays on its liabilities are established for a period of time. The change in market interest rates over time exposes the Bancorp to interest rate risk through potential adverse changes to net interest income and financial position. The Bancorp manages this risk by continually analyzing and adjusting the composition of its assets and liabilities based on their payment streams and interest rates, the timing of their maturities and their sensitivity to changes in market interest rates. Additionally, in the ordinary course of business, the Bancorp enters into certain derivative transactions as part of its overall strategy to manage its interest rate and prepayment risks. The Bancorp is also exposed to the risk of loss on its loan and lease portfolio as a result of changing expected cash flows caused by borrower credit events, such as loan defaults and inadequate collateral.

Noninterest income is derived from wealth and asset management revenue, commercial payments revenue, consumer banking revenue, capital markets fees, commercial banking revenue, mortgage banking net revenue, other noninterest income and net securities gains or losses. Noninterest expense includes compensation and benefits, technology and communications, net occupancy expense, equipment expense, loan and lease expense, marketing expense, card and processing expense and other noninterest expense.

Acquisition of Comerica Incorporated

On February 1, 2026, Fifth Third Bancorp closed the merger with Comerica Incorporated (“Comerica”) in an all-stock transaction valued at approximately $12.7 billion. Under the terms of the merger agreement, each outstanding share of Comerica’s common stock was converted into the right to receive 1.8663 shares of Fifth Third Bancorp common stock and each outstanding share of Comerica’s preferred stock was converted into the right to receive one share of a newly created series of preferred stock with comparable terms issued by the Bancorp.

Refer to Note 32 of the Notes to Consolidated Financial Statements for more information.

Redemption of Preferred Stock

On September 30, 2025, the Bancorp redeemed all 14,000 outstanding shares of its 4.500% fixed-rate reset non-cumulative perpetual preferred stock, Series L, and the corresponding depositary shares, pursuant to its terms and conditions. Prior to the redemption, the dividend rate on the Series L preferred stock was set to reach its first dividend reset date at which time the dividend would have reset to the five-year U.S. Treasury rate plus 4.215%.

Refer to Note 24 of the Notes to Consolidated Financial Statements for more information.

48 Fifth Third Bancorp

Table of Contents

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Share Repurchase Activity

During the year ended December 31, 2025, the Bancorp repurchased $525 million of common stock in accelerated share repurchase transactions.

On June 13, 2025, the Bancorp’s Board of Directors authorized management to purchase 100 million shares of the Bancorp’s common stock through the open market or in any private party transactions. This authorization superseded the prior authorization from June 2019 and did not include specific targets or an expiration date.

Refer to Note 24 of the Notes to Consolidated Financial Statements for additional information on share repurchase activity.

Senior Notes Offerings

On January 28, 2025, the Bank issued and sold, under its bank note program, $700 million of fixed-rate/floating-rate senior notes due on January 28, 2028. The senior notes will bear interest at a rate of 4.967% per annum to, but excluding, January 28, 2027. From, and including, January 28, 2027, to, but excluding, the maturity date, the senior notes will bear interest at a rate of compounded SOFR plus 0.81%.

On January 28, 2025, the Bank issued and sold, under its bank note program, $300 million of floating-rate senior notes due on January 28, 2028. The senior notes will bear interest at a rate of compounded SOFR plus 0.81%.

Refer to Note 17 of the Notes to Consolidated Financial Statements for more information.

Key Performance Indicators

The Bancorp, as a banking institution, utilizes various key indicators of financial condition and operating results in managing and monitoring the performance of the business. In addition to traditional financial metrics, such as revenue and expense trends, the Bancorp monitors other financial measures that assist in evaluating growth trends, capital and liquidity strength and operational efficiencies. The Bancorp analyzes these key performance indicators against its past performance, its forecasted performance and with the performance of its peer banking institutions. These indicators may change from time to time as the operating environment and businesses change.

The following are some of the key indicators used by management to assess the Bancorp’s business performance, including those which are considered in the Bancorp’s compensation programs:

•CET1 risk-based Capital Ratio: CET1 risk-based capital divided by risk-weighted assets as defined by the Basel III standardized approach to risk-weighting of assets

•Return on Average Tangible Common Equity (non-GAAP): Tangible net income available to common shareholders divided by average tangible common equity

•Return on Average Common Equity, Excluding AOCI (non-GAAP): Net income available to common shareholders divided by total equity, excluding AOCI and preferred stock

•Net Interest Margin (non-GAAP): Net interest income on an FTE basis divided by average interest-earning assets

•Efficiency Ratio (non-GAAP): Noninterest expense divided by the sum of net interest income on an FTE basis and noninterest income

•Earnings Per Share, Diluted: Net income allocated to common shareholders divided by average common shares outstanding after the effect of dilutive stock-based awards

•Nonperforming Portfolio Assets Ratio: Nonperforming portfolio assets divided by portfolio loans and leases and OREO

•Net Charge-off Ratio: Net losses charged-off divided by average portfolio loans and leases

•Return on Average Assets: Net income divided by average assets

•Loan-to-Deposit Ratio: Total loans divided by total deposits

•Household Growth: Change in the number of consumer households with retail relationship-based checking accounts

The list of indicators above is intended to summarize some of the most important metrics utilized by management in evaluating the Bancorp’s performance and does not represent an all-inclusive list of all performance measures that may be considered relevant or important to management or investors.

49 Fifth Third Bancorp

Table of Contents

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

[[GREPCENT_TABLE]]
[["TABLE 1: Earnings Summary"],["For the years ended December 31 ($ in millions, except per share data)","2025","","2024","","2023"],["Income Statement Data"],["Net interest income (U.S. GAAP)","$","5,982","","","5,630","","","5,827"],["Net interest income (FTE)(a)(b)","6,002","","","5,654","","","5,852"],["Noninterest income","3,035","","","2,849","","","2,881"],["Total revenue (FTE)(a)(b)","9,037","","","8,503","","","8,733"],["Provision for credit losses","662","","","530","","","515"],["Noninterest expense","5,144","","","5,033","","","5,205"],["Net income","2,522","","","2,314","","","2,349"],["Net income available to common shareholders","2,376","","","2,155","","","2,212"],["Common Share Data"],["Earnings per share - basic","$","3.56","","","3.16","","","3.23"],["Earnings per share - diluted","3.53","","","3.14","","","3.22"],["Cash dividends declared per common share","1.54","","","1.44","","","1.36"],["Book value per share","30.18","","","26.17","","","25.04"],["Market value per share","46.81","","","42.28","","","34.49"],["Financial Ratios"],["Return on average assets","1.19","%","","1.09","","","1.13"],["Return on average common equity","12.6","","","12.5","","","14.2"],["Return on average tangible common equity(b)","17.4","","","17.8","","","21.3"],["Dividend payout","43.3","","","45.6","","","42.1"]]
[[/GREPCENT_TABLE]]

(a)Amounts presented on an FTE basis. The FTE adjustments were $20, $24 and $25 for the years ended December 31, 2025, 2024 and 2023, respectively.

(b)These are non-GAAP measures. For further information, refer to the Non-GAAP Financial Measures section of MD&A.

Earnings Summary

The Bancorp’s net income available to common shareholders for the yea

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/FITB/mda/fy2025/
All MD&A years: /company/FITB/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/FITB/mda/fy2024/): filed 2025-02-24; accession 0000035527-25-000079 (https://www.sec.gov/Archives/edgar/data/35527/000003552725000079/fitb-20241231.htm)
- [FY 2023 MD&A](/company/FITB/mda/fy2023/): filed 2024-02-27; accession 0000035527-24-000088 (https://www.sec.gov/Archives/edgar/data/35527/000003552724000088/fitb-20231231.htm)
- [FY 2022 MD&A](/company/FITB/mda/fy2022/): filed 2023-02-24; accession 0000035527-23-000122 (https://www.sec.gov/Archives/edgar/data/35527/000003552723000122/fitb-20221231.htm)
- [FY 2021 MD&A](/company/FITB/mda/fy2021/): filed 2022-02-25; accession 0000035527-22-000119 (https://www.sec.gov/Archives/edgar/data/35527/000003552722000119/fitb-20211231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 6022 State Commercial Banks) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit
- [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/FITB.md · JSON record: /company/FITB.json · verified financials: /company/FITB/financials.json / /company/FITB/financials.csv · machine TOC for the whole site: /llms.txt