Fifth Third Bancorp Reports Third Quarter 2025 Diluted Earnings Per Share of $0.91

CINCINNATI--( BUSINESS WIRE)--Fifth Third Bancorp (NASDAQ: FITB):

Key Financial Data

Key Highlights

$ in millions for all balance sheet and income statement items

3Q25

2Q25

3Q24

Stability:

Profitability:

Growth:

Income Statement Data

Net income available to common shareholders

$608

$591

$532

Net interest income (U.S. GAAP)

1,520

1,495

1,421

Net interest income (FTE) (a)

1,525

1,500

1,427

Noninterest income

781

750

711

Noninterest expense

1,267

1,264

1,244

Per Share Data

Earnings per share, basic

$0.91

$0.88

$0.78

Earnings per share, diluted

0.91

0.88

0.78

Book value per share

29.26

28.47

27.60

Tangible book value per share (a)

21.66

20.98

20.20

Balance Sheet & Credit Quality

Average portfolio loans and leases

$123,326

$123,071

$116,826

Average deposits

164,754

163,575

167,196

Accumulated other comprehensive loss

(3,276)

(3,546)

(3,446)

Net charge-off ratio (b)

1.09

%

0.45

%

0.48

%

Nonperforming asset ratio (c)

0.65

0.72

0.62

Financial Ratios

Return on average assets

1.21

%

1.20

%

1.06

%

Return on average common equity

12.6

12.8

11.7

Return on average tangible common equity (a)

17.3

17.6

16.3

CET1 capital (d)(e)

10.54

10.58

10.75

Net interest margin (a)

3.13

3.12

2.90

Efficiency (a)

54.9

56.2

58.2

Other than the Quarterly Financial Review tables beginning on page 14, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Regulation S-K that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis.

From Tim Spence, Fifth Third Chairman, CEO and President:

Fifth Third's financial results once again underscore our strong balance sheet, diverse revenue streams, and disciplined expense management. We've continued to expand our net interest margin, improve our pre-provision net revenue, and strengthen our efficiency ratio.

Our ongoing investments in strategic growth priorities continue to drive robust results. In the third quarter, adjusted PPNR increased 6% sequentially and 11% year-over-year, marking the highest annual growth rate in over two years. Our balance sheet remains well-diversified and neutrally positioned. Our strong returns on capital enabled $300 million of share repurchases in the quarter and a 7% increase in tangible book value per share over the past year.

By focusing on high-quality deposits, diversified loan originations, recurring fee revenue and consistent improvements in operating scalability, we expect to continue to generate strong, stable through-the-cycle returns for our long-term shareholders.

As we move forward, we will continue to adhere to our operating principles 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

2025

2025

2024

Seq

Yr/Yr

Condensed Statements of Income

Net interest income (NII) (a)

$1,525

$1,500

$1,427

2%

7%

Provision for credit losses

197

173

160

14%

23%

Noninterest income

781

750

711

4%

10%

Noninterest expense

1,267

1,264

1,244

—

2%

Income before income taxes (a)

$842

$813

$734

4%

15%

Taxable equivalent adjustment

$5

$5

$6

—

(17)%

Applicable income tax expense

188

180

155

4%

21%

Net income

$649

$628

$573

3%

13%

Dividends on preferred stock

41

37

41

11%

—

Net income available to common shareholders

$608

$591

$532

3%

14%

Earnings per share, diluted

$0.91

$0.88

$0.78

3%

17%

Fifth Third Bancorp (NASDAQ ®: FITB) today reported third quarter 2025 net income available to common shareholders of $608 million, or $0.91 per diluted share, compared to $591 million, or $0.88 per diluted share, in the prior quarter and $532 million, or $0.78 per diluted share, in the year-ago quarter. On September 30, 2025, Fifth Third redeemed all of its outstanding Series L Preferred Stock, which resulted in a reduction to net income to common shareholders of $3.5 million, recorded as an incremental preferred dividend.

Diluted earnings per share impact of certain item(s) - 3Q25

(after-tax impact; $ in millions, except per share data)

Interchange litigation matters (f)1

$(21)

FDIC special assessment (noninterest expense) (f)

5

After-tax impact (f) of certain item(s)

$(16)

Diluted earnings per share impact of certain item(s) 2

$(0.02)

1Interchange litigation matters decreased noninterest income by $18 million and increased noninterest expense by $9 million

Totals may not foot due to rounding; 2Diluted earnings per share impact reflects 670.878 million average diluted shares outstanding

Net Interest Income

(FTE; $ in millions) (a)

For the Three Months Ended

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

Interest Income

Interest income

$2,524

$2,489

$2,675

1

%

(6

)%

Interest expense

999

989

1,248

1

%

(20

)%

Net interest income (NII)

$1,525

$1,500

$1,427

2

%

7

%

Average Yield/Rate Analysis

bps Change

Yield on interest-earning assets

5.18%

5.18%

5.43%

—

(25

)

Rate paid on interest-bearing liabilities

2.77%

2.78%

3.38%

(1

)

(61

)

Ratios

Net interest rate spread

2.41%

2.40%

2.05%

1

36

Net interest margin (NIM)

3.13%

3.12%

2.90%

1

23

Fully-taxable equivalent (FTE) NII of $1.525 billion increased $25 million, or 2% compared to the prior quarter. This improvement primarily reflects improved earning asset mix, fixed-rate asset repricing and strategic management actions decreasing the cost of interest-bearing liabilities. These same factors contributed to the 1 bp increase in NIM. NII in the prior quarter benefited $14 million from the payoff of a partially charged-off commercial loan, excluding this benefit, NII increased $39 million, or 3%, and NIM increased 4 bps.

Compared to the year-ago quarter, NII increased $98 million, or 7%, and NIM increased 23 bps. This improvement was due to the benefits from proactive deposit and wholesale funding management decreasing interest-bearing liabilities costs by 61 bps, improved earning asset mix, and the benefit of fixed-rate asset repricing.

Noninterest Income

($ in millions)

For the Three Months Ended

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

Noninterest Income

Wealth and asset management revenue

$181

$166

$163

9%

11%

Commercial payments revenue

157

152

154

3%

2%

Consumer banking revenue

144

147

143

(2)%

1%

Capital markets fees

115

90

111

28%

4%

Commercial banking revenue

87

79

93

10%

(6)%

Mortgage banking net revenue

58

56

50

4%

16%

Other noninterest income (loss)

29

44

(13)

(34)%

NM

Securities gains, net

10

16

10

(38)%

—

Total noninterest income

$781

$750

$711

4%

10%

Noninterest income of $781 million increased $31 million, or 4%, from the prior quarter, and increased $70 million, or 10%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including interchange litigation matters and the securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are more than offset in noninterest expense.

Noninterest Income excluding certain items

($ in millions)

For the Three Months Ended

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

Noninterest Income excluding certain items

Noninterest income (U.S. GAAP)

$781

$750

$711

Interchange litigation matters

18

1

47

Securities (gains) losses, net

(10)

(16)

(10)

Noninterest income excluding certain items (a)

$789

$735

$748

7%

5%

Noninterest income excluding certain items of $789 million increased $54 million, or 7%, compared to the prior quarter, and increased $41 million, or 5%, from the year-ago quarter.

Wealth and asset management revenue increased $15 million, or 9% sequentially, due to increases in personal asset management revenue and brokerage fees. Commercial payments revenue increased $5 million, or 3%, driven by deposit fees and Newline revenue, partially offset by higher earnings credits. Capital markets fees were up $25 million, or 28%, reflecting a strong rebound in loan syndications and M&A advisory revenue.

Compared to the year-ago quarter, wealth and asset management revenue increased $18 million, or 11%, with 12% year-over-year AUM growth driving increases in personal asset management revenue and brokerage fees. Commercial payments revenue increased $3 million, or 2%, primarily due to higher deposit fees. Capital markets fees increased $4 million, or 4%, driven by higher loan syndications and M&A advisory revenue, partially offset by lower corporate bond fees. Commercial banking revenue decreased $6 million, or 6%, primarily reflecting lower operating lease and lease syndication revenue. Mortgage banking net revenue increased $8 million, or 16%, due to the prior year loss on MSR net valuation adjustments not recurring in the current quarter.

Noninterest Expense

($ in millions)

For the Three Months Ended

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

Noninterest Expense

Compensation and benefits

$685

$698

$690

(2)%

(1)%

Technology and communications

128

126

121

2%

6%

Net occupancy expense

89

83

81

7%

10%

Equipment expense

44

41

38

7%

16%

Loan and lease expense

39

36

34

8%

15%

Marketing expense

34

43

26

(21)%

31%

Card and processing expense

22

22

22

—

—

Other noninterest expense

226

215

232

5%

(3)%

Total noninterest expense

$1,267

$1,264

$1,244

—

2%

Noninterest expense of $1.267 billion remained stable from the prior quarter, and increased 2% from the year-ago quarter. 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

2025

2025

2024

Seq

Yr/Yr

Noninterest Expense excluding certain item(s)

Noninterest expense (U.S. GAAP)

$1,267

$1,264

$1,244

Interchange litigation matters

(9)

—

(10)

Severance expense

—

(15)

(9)

FDIC special assessment

6

—

—

Noninterest expense excluding certain item(s) (a)

$1,264

$1,249

$1,225

1%

3%

Non-qualified deferred compensation (expense)/benefit

(11)

(16)

(10)

Noninterest expense excluding certain item(s) and non-qualified deferred compensation (a)

$1,253

$1,233

$1,215

2%

3%

Noninterest expense excluding certain items and non-qualified deferred compensation of $1.253 billion increased $20 million or 2% compared to the prior quarter with increases in equipment and occupancy, partially offset by lower marketing expense.

Compared to the year-ago quarter, noninterest expense excluding certain items and non-qualified deferred compensation increased $38 million, or 3% due primarily to increases in equipment and occupancy, marketing, and technology expense.

Expenses related to the mark-to-market impact of non-qualified deferred compensation were largely offset in net securities gains/losses through noninterest income in the current and prior periods.

Average Interest-Earning Assets

($ in millions)

For the Three Months Ended

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

Average Portfolio Loans and Leases

Commercial loans and leases:

Commercial and industrial loans

$54,170

$54,075

$51,615

—

5%

Commercial mortgage loans

12,027

12,410

11,488

(3)%

5%

Commercial construction loans

5,541

5,810

5,981

(5)%

(7)%

Commercial leases

3,177

3,120

2,685

2%

18%

Total commercial loans and leases

$74,915

$75,415

$71,769

(1)%

4%

Consumer loans:

Residential mortgage loans

$17,656

$17,615

$17,031

—

4%

Home equity

4,579

4,383

4,018

4%

14%

Indirect secured consumer loans

17,729

17,248

15,680

3%

13%

Credit card

1,678

1,659

1,708

1%

(2)%

Solar energy installation loans

4,355

4,268

3,990

2%

9%

Other consumer loans

2,414

2,483

2,630

(3)%

(8)%

Total consumer loans

$48,411

$47,656

$45,057

2%

7%

Total average portfolio loans and leases

$123,326

$123,071

$116,826

—

6%

Average Loans and Leases Held for Sale

Commercial loans and leases held for sale

$44

$45

$16

(2)%

175%

Consumer loans held for sale

623

541

573

15%

9%

Total average loans and leases held for sale

$667

$586

$589

14%

13%

Total average loans and leases

$123,993

$123,657

$117,415

—

6%

Securities (taxable and tax-exempt)

$54,592

$56,243

$56,707

(3)%

(4)%

Other short-term investments

14,915

12,782

21,714

17%

(31)%

Total average interest-earning assets

$193,500

$192,682

$195,836

—

(1)%

Total average portfolio loans and leases of $123 billion remained stable compared to the prior quarter. Average commercial portfolio loans and leases of $75 billion decreased 1%, due to declines in commercial mortgage and commercial construction loans, partially offset by increases in C&I middle market loans. Average consumer portfolio loans of $48 billion increased 2%, driven by continued strong growth in indirect secured consumer and home equity loans.

Compared to the year-ago quarter, total average portfolio loans and leases increased 6%. Average commercial portfolio loans and leases increased 4%, reflecting increases in C&I middle market, commercial mortgage loans, and commercial leases. Average consumer portfolio loans increased 7%, primarily due to increases in indirect secured consumer, residential mortgage, and home equity loans.

Average securities (taxable and tax-exempt; amortized cost) of $55 billion in the current quarter decreased 3% compared to the prior quarter and 4% compared to the year-ago quarter. Average other short-term investments (including interest-bearing cash) of $15 billion in the current quarter increased 17% compared to the prior quarter and decreased 31% compared to the year-ago quarter.

End of Period Interest-Earning Assets

($ in millions)

As of

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

End of Period Portfolio Loans and Leases

Total commercial loans and leases

$74,423

$74,152

$71,130

—

5%

Total consumer loans

48,707

48,244

45,538

1%

7%

Total portfolio loans and leases

$123,130

$122,396

$116,668

1%

6%

End of Period Loans and Leases Held for Sale

Total loans and leases held for sale

$576

$646

$612

(11)%

(6)%

Total loans and leases

$123,706

$123,042

$117,280

1%

5%

Securities (taxable and tax-exempt)

$52,680

$55,109

$56,738

(4)%

(7)%

Other short-term investments

17,215

13,043

21,729

32%

(21)%

Total interest-earning assets

$193,601

$191,194

$195,747

1%

(1)%

Period-end commercial portfolio loans and leases of $74 billion remained stable compared to the prior quarter. Compared to the year-ago quarter, period-end commercial portfolio loans and leases increased 5%, primarily due to growth in C&I loans.

Period-end consumer portfolio loans of $49 billion increased 1% compared to the prior quarter, primarily reflecting increases in indirect secured consumer and home equity loans. Compared to the year-ago quarter, period-end consumer portfolio loans increased 7%, driven by increases in indirect secured consumer, home equity, and residential mortgage loans.

Total period-end securities (taxable and tax-exempt; amortized cost) of $53 billion in the current quarter decreased 4% compared to the prior quarter and decreased 7% compared to the year-ago quarter. Period-end other short-term investments of approximately $17 billion increased 32% compared to the prior quarter and decreased 21% compared to the year-ago quarter.

Average Deposits

($ in millions)

For the Three Months Ended

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

Average Deposits

Demand

$41,235

$40,885

$40,020

1%

3%

Interest checking

56,624

56,738

58,605

—

(3)%

Savings

16,376

16,962

17,272

(3)%

(5)%

Money market

37,434

36,296

37,257

3%

—

Total transaction deposits

$151,669

$150,881

$153,154

1%

(1)%

CDs $250,000 or less

10,841

10,494

10,543

3%

3%

Total core deposits

$162,510

$161,375

$163,697

1%

(1)%

CDs over $250,000 1

2,244

2,200

3,499

2%

(36)%

Total average deposits

$164,754

$163,575

$167,196

1%

(1)%

1CDs over $250,000 includes $1.0BN, $1.1BN, and $2.6BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 9/30/25, 6/30/25, and 9/30/24, respectively.

Total average deposits of $165 billion increased 1% compared to the prior quarter, primarily driven by growth in money market and demand deposits, partially offset by declines in savings and interest checking balances. The growth in demand deposits reflects our strategic focus on enhancing the deposit mix, and represents the second consecutive quarter of demand deposit growth. Period-end total deposits of $167 billion increased 1%.

Compared to the year-ago quarter, total average deposits decreased 1%, mainly due to lower interest checking balances and a reduction in CDs over $250,000, which includes brokered deposits, partially offset by an increase in demand deposits and CDs $250,000 or less. Period-end total deposits decreased 1%.

The period-end portfolio loan-to-core deposit ratio was 75% in the current quarter, compared to 76% in the prior quarter and 71% in the year-ago quarter.

Average Wholesale Funding

($ in millions)

For the Three Months Ended

% Change

September

June

September

2025

2025

2024

Seq

Yr/Yr

Average Wholesale Funding

CDs over $250,000 1

$2,244

$2,200

$3,499

2%

(36)%

Federal funds purchased

198

206

176

(4)%

13%

Securities sold under repurchase agreements

376

353

396

7%

(5)%

FHLB advances

4,920

4,976

2,576

(1)%

91%

Derivative collateral and other secured borrowings

82

89

52

(8)%

58%

Long-term debt

14,001

14,599

16,716

(4)%

(16)%

Total average wholesale funding

$21,821

$22,423

$23,415

(3)%

(7)%

1CDs over $250,000 includes $1.0BN, $1.1BN, and $2.6BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 9/30/25, 6/30/25, and 9/30/24, respectively.

Average wholesale funding of $22 billion decreased 3% compared to the prior quarter, driven by a reduction in long-term debt and FHLB advances. The 7% decrease in average wholesale funding compared to the year-ago quarter was primarily attributable to a decrease in long-term debt and CDs over $250,000, inclusive of brokered deposits.

Credit Quality Summary

($ in millions)

As of and For the Three Months Ended

September

June

March

December

September

2025

2025

2025

2024

2024

Total nonaccrual portfolio loans and leases (NPLs)

$768

$853

$966

$823

$686

Repossessed property

12

8

9

9

11

OREO

21

25

21

21

28

Total nonperforming portfolio loans and leases and OREO (NPAs)

$801

$886

$996

$853

$725

NPL ratio (g)

0.62%

0.70%

0.79%

0.69%

0.59%

NPA ratio (c)

0.65%

0.72%

0.81%

0.71%

0.62%

Portfolio loans and leases 30-89 days past due (accrual)

$348

$277

$385

$303

$283

Portfolio loans and leases 90 days past due (accrual)

29

34

33

32

40

30-89 days past due as a % of portfolio loans and leases

0.28%

0.23%

0.31%

0.25%

0.24%

90 days past due as a % of portfolio loans and leases

0.02%

0.03%

0.03%

0.03%

0.03%

Allowance for loan and lease losses (ALLL), beginning

$2,412

$2,384

$2,352

$2,305

$2,288

Total net losses charged-off

(339)

(139)

(136)

(136)

(142)

Provision for loan and lease losses

192

167

168

183

159

ALLL, ending

$2,265

$2,412

$2,384

$2,352

$2,305

Reserve for unfunded commitments, beginning

$146

$140

$134

$138

$137

Provision for (benefit from) the reserve for unfunded commitments

5

6

6

(4)

1

Reserve for unfunded commitments, ending

$151

$146

$140

$134

$138

Total allowance for credit losses (ACL)

$2,416

$2,558

$2,524

$2,486

$2,443

ACL ratios:

As a % of portfolio loans and leases

1.96%

2.09%

2.07%

2.08%

2.09%

As a % of nonperforming portfolio loans and leases

314%

300%

261%

302%

356%

As a % of nonperforming portfolio assets

302%

289%

253%

291%

337%

ALLL as a % of portfolio loans and leases

1.84%

1.97%

1.95%

1.96%

1.98%

Total losses charged-off

$(382)

$(194)

$(173)

$(175)

$(183)

Total recoveries of losses previously charged-off

43

55

37

39

41

Total net losses charged-off

$(339)

$(139)

$(136)

$(136)

$(142)

Net charge-off ratio (NCO ratio) (b)

1.09%

0.45%

0.46%

0.46%

0.48%

Commercial NCO ratio

1.46%

0.38%

0.35%

0.32%

0.40%

Consumer NCO ratio

0.52%

0.56%

0.63%

0.68%

0.62%

The provision for credit losses totaled $197 million in the current quarter and the ACL ratio represented 1.96% of total portfolio loans and leases at quarter end, down 13 bps from 2.09% in the prior and year-ago periods. The ACL coverage ratio increased to 314% of nonperforming portfolio loans and leases and 302% of nonperforming portfolio assets.

Net charge-offs totaled $339 million in the current quarter, up $200 million from the prior quarter and the NCO ratio increased 64 bps to 1.09%. The third quarter of 2025 net charge-offs included $178 million related to the impairment of an asset-backed finance commercial credit. Excluding this credit, net charge-offs were $161 million, or 0.52% in the third quarter of 2025, up 7 bps from the prior quarter. Commercial net charge-offs were $275 million, with a commercial NCO ratio of 1.46%, up 108 bps from the prior quarter. The increase in commercial net charge-offs from the prior quarter was primarily due to the asset-backed credit mentioned previously. Consumer net charge-offs were $64 million, with a consumer NCO ratio of 0.52%, down 4 bps sequentially.

Compared to the year-ago quarter, net charge-offs increased $197 million and the NCO ratio increased 61 bps. The commercial NCO ratio increased 106 bps, and the consumer NCO ratio decreased 10 bps compared to the prior year.

Nonperforming portfolio loans and leases totaled $768 million in the current quarter, representing an NPL ratio of 0.62%, compared to 0.70% in the prior quarter and 0.59% in the year-ago quarter.

Nonperforming portfolio assets totaled $801 million in the current quarter, resulting in an NPA ratio of 0.65%, compared to 0.72% in the prior quarter and 0.62% in the year-ago quarter.

Capital Position

As of and For the Three Months Ended

September

June

March

December

September

2025

2025

2025

2024

2024

Capital Position

Average total Bancorp shareholders' equity as a % of average assets

10.02%

9.82%

9.50%

9.40%

9.47%

Tangible equity (a)

9.12%

9.39%

9.07%

9.02%

8.99%

Tangible common equity (excluding AOCI) (a)

8.29%

8.38%

8.07%

8.03%

8.00%

Tangible common equity (including AOCI) (a)

6.89%

6.84%

6.40%

6.02%

6.52%

Regulatory Capital Ratios (d)(e)

CET1 capital

10.54%

10.58%

10.43%

10.57%

10.75%

Tier 1 risk-based capital

11.60%

11.85%

11.71%

11.86%

12.07%

Total risk-based capital

13.51%

13.77%

13.63%

13.86%

14.13%

Leverage

9.24%

9.42%

9.23%

9.22%

9.11%

CET1 capital ratio of 10.54% decreased 4 bps sequentially, primarily reflecting risk-weighted asset growth and capital returns to shareholders. During the third quarter of 2025, Fifth Third repurchased $300 million of its common stock, which reduced shares outstanding by approximately 6.9 million at quarter end. Fifth Third increased its quarterly cash common dividend on its common shares by $0.03, or 8%, to $0.40 per share for the third quarter of 2025, reflecting our resilient balance sheet and strong earnings profile. On September 30, 2025, Fifth Third redeemed all of its outstanding 4.50% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L.

Tax Rate

The effective tax rate for the quarter was 22.6% compared with 22.2% in the prior quarter and 21.3% in the year-ago quarter.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”). Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address, which will be available for 30 days.

Corporate Profile

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com.

Earnings Release End Notes

Non-GAAP measure; see discussion of non-GAAP reconciliation beginning on page 27.

Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis.

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO.

Regulatory capital ratios as of December 31, 2024 and September 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

Current period regulatory capital ratios are estimated.

Assumes a 24% tax rate.

Nonperforming portfolio loans and leases as a percent of portfolio loans and leases.

FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”).

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (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 pending merger with Comerica Incorporated, including Fifth Third’s inability to realize the anticipated benefits of the pending merger, the failure to satisfy the closing conditions of the pending merger or an unexpected delay in the closing of the pending merger, the failure to receive required regulatory, stockholder or other approvals and the disruption of Fifth Third’s business as a result of the pending merger.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.

Quarterly Financial Review for September 30, 2025

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

2025

2025

2024

Seq

Yr/Yr

2025

2024

Yr/Yr

Income Statement Data

Net interest income

$1,520

$1,495

$1,421

2%

7%

$4,453

$4,192

6%

Net interest income (FTE) (a)

1,525

1,500

1,427

2%

7%

4,468

4,210

6%

Noninterest income

781

750

711

4%

10%

2,224

2,117

5%

Total revenue (FTE) (a)

2,306

2,250

2,138

2%

8%

6,692

6,327

6%

Provision for credit losses

197

173

160

14%

23%

544

351

55%

Noninterest expense

1,267

1,264

1,244

—

2%

3,835

3,807

1%

Net income

649

628

573

3%

13%

1,791

1,694

6%

Net income available to common shareholders

608

591

532

3%

14%

1,677

1,573

7%

Earnings Per Share Data

Net income allocated to common shareholders

$608

$591

$532

3%

14%

$1,677

$1,573

7%

Average common shares outstanding (in thousands):

Basic

666,427

670,787

680,895

(1%)

(2%)

669,405

684,462

(2%)

Diluted

670,878

674,034

686,109

—

(2%)

673,632

689,263

(2%)

Earnings per share, basic

$0.91

$0.88

$0.78

3%

17%

$2.51

$2.30

9%

Earnings per share, diluted

0.91

0.88

0.78

3%

17%

2.49

2.28

9%

Common Share Data

Cash dividends per common share

$0.40

$0.37

$0.37

8%

8%

$1.14

$1.07

7%

Book value per share

29.26

28.47

27.60

3%

6%

29.26

27.60

6%

Market value per share

44.55

41.13

42.84

8%

4%

44.55

42.84

4%

Common shares outstanding (in thousands)

660,973

667,710

676,269

(1%)

(2%)

660,973

676,269

(2%)

Market capitalization

$29,446

$27,463

$28,971

7%

2%

$29,446

$28,971

2%

Financial Ratios

Return on average assets

1.21%

1.20%

1.06%

1

15

1.13%

1.06%

7

Return on average common equity

12.6%

12.8%

11.7%

(20)

90

12.1%

12.3%

(20)

Return on average tangible common equity (a)

17.3%

17.6%

16.3%

(30)

100

16.8%

17.6%

(80)

Noninterest income as a percent of total revenue (a)

34%

33%

33%

100

100

33%

33%

—

Dividend payout

44.0%

42.0%

47.4%

200

(340)

45.4%

46.5%

(110)

Average total Bancorp shareholders’ equity as a percent of average assets

10.02%

9.82%

9.47%

20

55

9.78%

9.02%

76

Tangible common equity (a)

8.29%

8.38%

8.00%

(9)

29

8.29%

8.00%

29

Net interest margin (FTE) (a)

3.13%

3.12%

2.90%

1

23

3.10%

2.88%

22

Efficiency (FTE) (a)

54.9%

56.2%

58.2%

(130)

(330)

57.3%

60.2%

(290)

Effective tax rate

22.6%

22.2%

21.3%

40

130

22.1%

21.3%

80

Credit Quality

Net losses charged-off

$339

$139

$142

144%

139%

$614

$396

55%

Net losses charged-off as a percent of average portfolio loans and leases (annualized)

1.09%

0.45%

0.48%

64

61

0.67%

0.45%

22

ALLL as a percent of portfolio loans and leases

1.84%

1.97%

1.98%

(13)

(14)

1.84%

1.98%

(14)

ACL as a percent of portfolio loans and leases (g)

1.96%

2.09%

2.09%

(13)

(13)

1.96%

2.09%

(13)

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO

0.65%

0.72%

0.62%

(7)

3

0.65%

0.62%

3

Average Balances

Loans and leases, including held for sale

$123,993

$123,657

$117,415

—

6%

$123,147

$117,466

5%

Securities and other short-term investments

69,507

69,025

78,421

1%

(11%)

69,853

77,765

(10%)

Assets

211,770

210,554

213,838

1%

(1%)

210,965

213,174

(1%)

Transaction deposits (b)

151,669

150,881

153,154

1%

(1%)

151,327

152,400

(1%)

Core deposits (c)

162,510

161,375

163,697

1%

(1%)

161,901

162,918

(1%)

Wholesale funding (d)

21,821

22,423

23,415

(3%)

(7%)

22,167

24,120

(8%)

Bancorp shareholders' equity

21,216

20,670

20,251

3%

5%

20,633

19,232

7%

Regulatory Capital Ratios (e)(f)

CET1 capital

10.54%

10.58%

10.75%

(4)

(21)

10.54%

10.75%

(21)

Tier 1 risk-based capital

11.60%

11.85%

12.07%

(25)

(47)

11.60%

12.07%

(47)

Total risk-based capital

13.51%

13.77%

14.13%

(26)

(62)

13.51%

14.13%

(62)

Leverage

9.24%

9.42%

9.11%

(18)

13

9.24%

9.11%

13

Additional Metrics

Banking centers

1,102

1,089

1,072

1%

3%

1,102

1,072

3%

ATMs

2,184

2,170

2,060

1%

6%

2,184

2,060

6%

Full-time equivalent employees

18,476

18,690

18,579

(1%)

(1%)

18,476

18,579

(1%)

Assets under care ($ in billions) (h)

$681

$657

$635

4%

7%

$681

$635

7%

Assets under management ($ in billions) (h)

77

73

69

5%

12%

77

69

12%

Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.

Includes demand, interest checking, savings and money market deposits..

Includes transaction deposits plus CDs $250,000 or less.

Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

Current period regulatory capital ratios are estimates.

Regulatory capital ratios as of September 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

Assets under management and assets under care include trust and brokerage assets.

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

2025

2025

2025

2024

2024

Income Statement Data

Net interest income

$1,520

$1,495

$1,437

$1,437

$1,421

Net interest income (FTE) (a)

1,525

1,500

1,442

1,443

1,427

Noninterest income

781

750

694

732

711

Total revenue (FTE) (a)

2,306

2,250

2,136

2,175

2,138

Provision for credit losses

197

173

174

179

160

Noninterest expense

1,267

1,264

1,304

1,226

1,244

Net income

649

628

515

620

573

Net income available to common shareholders

608

591

478

582

532

Earnings Per Share Data

Net income allocated to common shareholders

$608

$591

$478

$582

$532

Average common shares outstanding (in thousands):

Basic

666,427

670,787

671,052

675,307

680,895

Diluted

670,878

674,034

676,040

681,456

686,109

Earnings per share, basic

$0.91

$0.88

$0.71

$0.86

$0.78

Earnings per share, diluted

0.91

0.88

0.71

0.85

0.78

Common Share Data

Cash dividends per common share

$0.40

$0.37

$0.37

$0.37

$0.37

Book value per share

29.26

28.47

27.41

26.17

27.60

Market value per share

44.55

41.13

39.20

42.28

42.84

Common shares outstanding (in thousands)

660,973

667,710

667,272

669,854

676,269

Market capitalization

$29,446

$27,463

$26,157

$28,321

$28,971

Financial Ratios

Return on average assets

1.21%

1.20%

0.99%

1.17%

1.06%

Return on average common equity

12.6%

12.8%

10.8%

13.0%

11.7%

Return on average tangible common equity (a)

17.3%

17.6%

15.2%

18.4%

16.3%

Noninterest income as a percent of total revenue (a)

34%

33%

32%

34%

33%

Dividend payout

44.0%

42.0%

52.1%

43.0%

47.4%

Average total Bancorp shareholders’ equity as a percent of average assets

10.02%

9.82%

9.50%

9.40%

9.47%

Tangible common equity (a)

8.29%

8.38%

8.07%

8.03%

8.00%

Net interest margin (FTE) (a)

3.13%

3.12%

3.03%

2.97%

2.90%

Efficiency (FTE) (a)

54.9%

56.2%

61.0%

56.4%

58.2%

Effective tax rate

22.6%

22.2%

21.2%

18.8%

21.3%

Credit Quality

Net losses charged-off

$339

$139

$136

$136

$142

Net losses charged-off as a percent of average portfolio loans and leases (annualized)

1.09%

0.45%

0.46%

0.46%

0.48%

ALLL as a percent of portfolio loans and leases

1.84%

1.97%

1.95%

1.96%

1.98%

ACL as a percent of portfolio loans and leases (g)

1.96%

2.09%

2.07%

2.08%

2.09%

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO

0.65%

0.72%

0.81%

0.71%

0.62%

Average Balances

Loans and leases, including held for sale

$123,993

$123,657

$121,764

$118,492

$117,415

Securities and other short-term investments

69,507

69,025

71,044

75,021

78,421

Assets

211,770

210,554

210,558

211,709

213,838

Transaction deposits (b)

151,669

150,881

151,431

154,114

153,154

Core deposits (c)

162,510

161,375

161,811

164,706

163,697

Wholesale funding (d)

21,821

22,423

22,262

20,202

23,415

Bancorp shareholders’ equity

21,216

20,670

20,000

19,893

20,251

Regulatory Capital Ratios (e)(f)

CET1 capital

10.54%

10.58%

10.43%

10.57%

10.75%

Tier 1 risk-based capital

11.60%

11.85%

11.71%

11.86%

12.07%

Total risk-based capital

13.51%

13.77%

13.63%

13.86%

14.13%

Leverage

9.24%

9.42%

9.23%

9.22%

9.11%

Additional Metrics

Banking centers

1,102

1,089

1,084

1,089

1,072

ATMs

2,184

2,170

2,069

2,080

2,060

Full-time equivalent employees

18,476

18,690

18,786

18,616

18,579

Assets under care ($ in billions) (h)

$681

$657

$639

$634

$635

Assets under management ($ in billions) (h)

77

73

68

69

69

(a)

Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.

Includes demand, interest checking, savings and money market deposits.

Includes transaction deposits plus CDs $250,000 or less.

Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

Current period regulatory capital ratios are estimates.

Regulatory capital ratios as of December 31, 2024 and September 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

Assets under management and assets under care include trust and brokerage assets.

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

2025

2025

2024

Seq

Yr/Yr

2025

2024

Yr/Yr

Interest Income

Interest and fees on loans and leases

$1,909

$1,881

$1,910

1%

—

$5,604

$5,640

(1%)

Interest on securities

444

458

461

(3%)

(4%)

1,354

1,374

(1%)

Interest on other short-term investments

166

145

298

14%

(44%)

477

883

(46%)

Total interest income

2,519

2,484

2,669

1%

(6%)

7,435

7,897

(6%)

Interest Expense

Interest on deposits

750

732

968

2%

(23%)

2,226

2,880

(23%)

Interest on federal funds purchased

2

2

2

—

—

7

8

(13%)

Interest on other short-term borrowings

59

59

40

—

48%

174

135

29%

Interest on long-term debt

188

196

238

(4%)

(21%)

575

682

(16%)

Total interest expense

999

989

1,248

1%

(20%)

2,982

3,705

(20%)

Net Interest Income

1,520

1,495

1,421

2%

7%

4,453

4,192

6%

Provision for credit losses

197

173

160

14%

23%

544

351

55%

Net Interest Income After Provision for Credit Losses

1,323

1,322

1,261

—

5%

3,909

3,841

2%

Noninterest Income

Wealth and asset management revenue

181

166

163

9%

11%

519

483

7%

Commercial payments revenue

157

152

154

3%

2%

462

453

2%

Consumer banking revenue

144

147

143

(2%)

1%

428

418

2%

Capital markets fees

115

90

111

28%

4%

294

301

(2%)

Commercial banking revenue

87

79

93

10%

(6%)

247

267

(7%)

Mortgage banking net revenue

58

56

50

4%

16%

171

154

11%

Other noninterest income (loss)

29

44

(13)

(34%)

NM

86

18

378%

Securities gains, net

10

16

10

(38%)

—

17

23

(26%)

Total noninterest income

781

750

711

4%

10%

2,224

2,117

5%

Noninterest Expense

Compensation and benefits

685

698

690

(2%)

(1%)

2,132

2,099

2%

Technology and communications

128

126

121

2%

6%

378

351

8%

Net occupancy expense

89

83

81

7%

10%

260

251

4%

Equipment expense

44

41

38

7%

16%

126

114

11%

Loan and lease expense

39

36

34

8%

15%

105

96

9%

Marketing expense

34

43

26

(21%)

31%

105

92

14%

Card and processing expense

22

22

22

—

—

65

63

3%

Other noninterest expense

226

215

232

5%

(3%)

664

741

(10%)

Total noninterest expense

1,267

1,264

1,244

—

2%

3,835

3,807

1%

Income Before Income Taxes

837

808

728

4%

15%

2,298

2,151

7%

Applicable income tax expense

188

180

155

4%

21%

507

457

11%

Net Income

649

628

573

3%

13%

1,791

1,694

6%

Dividends on preferred stock

41

37

41

11%

—

114

121

(6%)

Net Income Available to Common Shareholders

$608

$591

$532

3%

14%

$1,677

$1,573

7%

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

For the Three Months Ended

(unaudited)

September

June

March

December

September

2025

2025

2025

2024

2024

Interest Income

Interest and fees on loans and leases

$1,909

$1,881

$1,816

$1,836

$1,910

Interest on securities

444

458

451

464

461

Interest on other short-term investments

166

145

165

228

298

Total interest income

2,519

2,484

2,432

2,528

2,669

Interest Expense

Interest on deposits

750

732

743

856

968

Interest on federal funds purchased

2

2

2

3

2

Interest on other short-term borrowings

59

59

56

22

40

Interest on long-term debt

188

196

194

210

238

Total interest expense

999

989

995

1,091

1,248

Net Interest Income

1,520

1,495

1,437

1,437

1,421

Provision for credit losses

197

173

174

179

160

Net Interest Income After Provision for Credit Losses

1,323

1,322

1,263

1,258

1,261

Noninterest Income

Wealth and asset management revenue

181

166

172

163

163

Commercial payments revenue

157

152

153

155

154

Consumer banking revenue

144

147

137

137

143

Capital markets fees

115

90

90

123

111

Commercial banking revenue

87

79

80

109

93

Mortgage banking net revenue

58

56

57

57

50

Other noninterest income (loss)

29

44

14

(4)

(13)

Securities gains (losses), net

10

16

(9)

(8)

10

Total noninterest income

781

750

694

732

711

Noninterest Expense

Compensation and benefits

685

698

750

665

690

Technology and communications

128

126

123

123

121

Net occupancy expense

89

83

87

88

81

Equipment expense

44

41

42

39

38

Loan and lease expense

39

36

30

36

34

Marketing expense

34

43

28

23

26

Card and processing expense

22

22

21

21

22

Other noninterest expense

226

215

223

231

232

Total noninterest expense

1,267

1,264

1,304

1,226

1,244

Income Before Income Taxes

837

808

653

764

728

Applicable income tax expense

188

180

138

144

155

Net Income

649

628

515

620

573

Dividends on preferred stock

41

37

37

38

41

Net Income Available to Common Shareholders

$608

$591

$478

$582

$532

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

As of

% Change

(unaudited)

September

June

September

2025

2025

2024

Seq

Yr/Yr

Assets

Cash and due from banks

$2,901

$2,972

$3,215

(2%)

(10%)

Other short-term investments

17,215

13,043

21,729

32%

(21%)

Available-for-sale debt and other securities (a)

36,461

38,270

40,396

(5%)

(10%)

Held-to-maturity securities (b)

11,498

11,630

11,358

(1%)

1%

Trading debt securities

1,266

1,324

1,176

(4%)

8%

Equity securities

287

404

428

(29%)

(33%)

Loans and leases held for sale

576

646

612

(11%)

(6%)

Portfolio loans and leases:

Commercial and industrial loans

53,947

53,312

50,916

1%

6%

Commercial mortgage loans

11,932

12,112

11,394

(1%)

5%

Commercial construction loans

5,326

5,551

5,947

(4%)

(10%)

Commercial leases

3,218

3,177

2,873

1%

12%

Total commercial loans and leases

74,423

74,152

71,130

—

5%

Residential mortgage loans

17,644

17,681

17,166

—

3%

Home equity

4,678

4,485

4,074

4%

15%

Indirect secured consumer loans

17,885

17,591

15,942

2%

12%

Credit card

1,692

1,707

1,703

(1%)

(1%)

Solar energy installation loans

4,432

4,316

4,078

3%

9%

Other consumer loans

2,376

2,464

2,575

(4%)

(8%)

Total consumer loans

48,707

48,244

45,538

1%

7%

Portfolio loans and leases

123,130

122,396

116,668

1%

6%

Allowance for loan and lease losses

(2,265)

(2,412)

(2,305)

(6%)

(2%)

Portfolio loans and leases, net

120,865

119,984

114,363

1%

6%

Bank premises and equipment

2,655

2,560

2,425

4%

9%

Operating lease equipment

379

344

357

10%

6%

Goodwill

4,947

4,918

4,918

1%

1%

Intangible assets

76

75

98

1%

(22%)

Servicing rights

1,601

1,629

1,656

(2%)

(3%)

Other assets

12,176

12,192

11,587

—

5%

Total Assets

$212,903

$209,991

$214,318

1%

(1%)

Liabilities

Deposits:

Demand

$41,830

$42,174

$41,393

(1%)

1%

Interest checking

57,239

55,524

58,727

3%

(3%)

Savings

16,110

16,614

16,990

(3%)

(5%)

Money market

38,748

36,586

37,482

6%

3%

CDs $250,000 or less

10,667

10,883

10,480

(2%)

2%

CDs over $250,000

1,975

2,426

3,268

(19%)

(40%)

Total deposits

166,569

164,207

168,340

1%

(1%)

Federal funds purchased

183

178

169

3%

8%

Other short-term borrowings

5,077

3,393

1,424

50%

257%

Accrued taxes, interest and expenses

1,943

1,970

2,034

(1%)

(4%)

Other liabilities

4,347

4,627

4,471

(6%)

(3%)

Long-term debt

13,677

14,492

17,096

(6%)

(20%)

Total Liabilities

191,796

188,867

193,534

2%

(1%)

Equity

Common stock (c)

2,051

2,051

2,051

—

—

Preferred stock

1,770

2,116

2,116

(16%)

(16%)

Capital surplus

3,813

3,794

3,784

1%

1%

Retained earnings

25,057

24,718

23,820

1%

5%

Accumulated other comprehensive loss

(3,276)

(3,546)

(3,446)

(8%)

(5%)

Treasury stock

(8,308)

(8,009)

(7,541)

4%

10%

Total Equity

21,107

21,124

20,784

—

2%

Total Liabilities and Equity

$212,903

$209,991

$214,318

1%

(1%)

(a) Amortized cost

$39,617

$41,731

$43,754

(5%)

(9%)

(b) Market values

11,506

11,547

11,554

—

—

(c) Common shares, stated value $2.22 per share (in thousands):

Authorized

2,000,000

2,000,000

2,000,000

—

—

Outstanding, excluding treasury

660,973

667,710

676,269

—

—

Treasury

262,919

256,183

247,624

—

—

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

As of

(unaudited)

September

June

March

December

September

2025

2025

2025

2024

2024

Assets

Cash and due from banks

$2,901

$2,972

$3,009

$3,014

$3,215

Other short-term investments

17,215

13,043

14,965

17,120

21,729

Available-for-sale debt and other securities (a)

36,461

38,270

39,747

39,547

40,396

Held-to-maturity securities (b)

11,498

11,630

11,185

11,278

11,358

Trading debt securities

1,266

1,324

1,159

1,185

1,176

Equity securities

287

404

494

341

428

Loans and leases held for sale

576

646

473

640

612

Portfolio loans and leases:

Commercial and industrial loans

53,947

53,312

53,700

52,271

50,916

Commercial mortgage loans

11,932

12,112

12,357

12,246

11,394

Commercial construction loans

5,326

5,551

5,952

5,588

5,947

Commercial leases

3,218

3,177

3,128

3,188

2,873

Total commercial loans and leases

74,423

74,152

75,137

73,293

71,130

Residential mortgage loans

17,644

17,681

17,581

17,543

17,166

Home equity

4,678

4,485

4,265

4,188

4,074

Indirect secured consumer loans

17,885

17,591

16,804

16,313

15,942

Credit card

1,692

1,707

1,660

1,734

1,703

Solar energy installation loans

4,432

4,316

4,262

4,202

4,078

Other consumer loans

2,376

2,464

2,482

2,518

2,575

Total consumer loans

48,707

48,244

47,054

46,498

45,538

Portfolio loans and leases

123,130

122,396

122,191

119,791

116,668

Allowance for loan and lease losses

(2,265)

(2,412)

(2,384)

(2,352)

(2,305)

Portfolio loans and leases, net

120,865

119,984

119,807

117,439

114,363

Bank premises and equipment

2,655

2,560

2,506

2,475

2,425

Operating lease equipment

379

344

314

319

357

Goodwill

4,947

4,918

4,918

4,918

4,918

Intangible assets

76

75

82

90

98

Servicing rights

1,601

1,629

1,663

1,704

1,656

Other assets

12,176

12,192

12,347

12,857

11,587

Total Assets

$212,903

$209,991

$212,669

$212,927

$214,318

Liabilities

Deposits:

Demand

$41,830

$42,174

$40,855

$41,038

$41,393

Interest checking

57,239

55,524

58,420

59,306

58,727

Savings

16,110

16,614

17,583

17,147

16,990

Money market

38,748

36,586

36,505

36,605

37,482

CDs $250,000 or less

10,667

10,883

10,248

10,798

10,480

CDs over $250,000

1,975

2,426

1,894

2,358

3,268

Total deposits

166,569

164,207

165,505

167,252

168,340

Federal funds purchased

183

178

227

204

169

Other short-term borrowings

5,077

3,393

5,457

4,450

1,424

Accrued taxes, interest and expenses

1,943

1,970

1,722

2,137

2,034

Other liabilities

4,347

4,627

4,816

4,902

4,471

Long-term debt

13,677

14,492

14,539

14,337

17,096

Total Liabilities

191,796

188,867

192,266

193,282

193,534

Equity

Common stock (c)

2,051

2,051

2,051

2,051

2,051

Preferred stock

1,770

2,116

2,116

2,116

2,116

Capital surplus

3,813

3,794

3,773

3,804

3,784

Retained earnings

25,057

24,718

24,377

24,150

23,820

Accumulated other comprehensive loss

(3,276)

(3,546)

(3,895)

(4,636)

(3,446)

Treasury stock

(8,308)

(8,009)

(8,019)

(7,840)

(7,541)

Total Equity

21,107

21,124

20,403

19,645

20,784

Total Liabilities and Equity

$212,903

$209,991

$212,669

$212,927

$214,318

(a) Amortized cost

$39,617

$41,731

$43,445

$43,878

$43,754

(b) Market values

11,506

11,547

11,072

10,965

11,554

(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

660,973

667,710

667,272

669,854

676,269

Treasury

262,919

256,183

256,621

254,039

247,624

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

2025

2024

2025

2024

Total Equity, Beginning

$21,124

$19,226

$19,645

$19,172

Net income

649

573

1,791

1,694

Other comprehensive income, net of tax:

Change in unrealized gains:

Available-for-sale debt securities

230

953

890

776

Qualifying cash flow hedges

14

473

397

186

Amortization of unrealized losses on securities transferred to held-to-maturity

25

26

72

76

Change in accumulated other comprehensive income related to employee benefit plans

1

1

1

1

Other

—

2

—

2

Comprehensive income

919

2,028

3,151

2,735

Cash dividends declared:

Common stock

(269)

(254)

(770)

(740)

Preferred stock

(37)

(41)

(110)

(121)

Impact of stock transactions under stock compensation plans, net

23

27

70

75

Shares acquired for treasury

(303)

(202)

(529)

(327)

Redemption of preferred stock

(350)

—

(350)

—

Impact of cumulative effect of change in accounting principle

—

—

—

(10)

Total Equity, Ending

$21,107

$20,784

$21,107

$20,784

Fifth Third Bancorp and Subsidiaries

Average Balance Sheets and Yield/Rate Analysis

For the Three Months Ended

$ in millions

September

June

September

(unaudited)

2025

2025

2024

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)

$54,196

6.20%

$54,109

6.28%

$51,630

7.15%

Commercial mortgage loans (a)

12,043

6.26%

12,420

6.12%

11,488

6.26%

Commercial construction loans (a)

5,541

7.17%

5,810

7.17%

5,982

7.14%

Commercial leases (a)

3,177

4.70%

3,121

4.83%

2,686

4.53%

Total commercial loans and leases

74,957

6.22%

75,460

6.26%

71,786

6.91%

Residential mortgage loans

18,279

4.03%

18,156

3.98%

17,604

3.71%

Home equity

4,580

7.43%

4,383

7.42%

4,018

8.40%

Indirect secured consumer loans

17,729

5.65%

17,248

5.63%

15,680

5.42%

Credit card

1,678

14.26%

1,659

14.33%

1,708

14.00%

Solar energy installation loans

4,355

8.76%

4,268

8.10%

3,990

8.12%

Other consumer loans

2,415

9.25%

2,483

9.09%

2,629

9.37%

Total consumer loans

49,036

5.96%

48,197

5.87%

45,629

5.81%

Total loans and leases

123,993

6.12%

123,657

6.11%

117,415

6.48%

Securities:

Taxable securities

53,244

3.25%

54,896

3.29%

55,329

3.25%

Tax exempt securities (a)

1,348

3.18%

1,347

3.19%

1,378

3.30%

Other short-term investments

14,915

4.43%

12,782

4.56%

21,714

5.47%

Total interest-earning assets

193,500

5.18%

192,682

5.18%

195,836

5.43%

Cash and due from banks

2,485

2,437

2,664

Other assets

18,196

17,819

17,626

Allowance for loan and lease losses

(2,411)

(2,384)

(2,288)

Total Assets

$211,770

$210,554

$213,838

Liabilities

Interest-bearing liabilities:

Interest checking deposits

$56,624

2.72%

$56,738

2.69%

$58,605

3.38%

Savings deposits

16,376

0.46%

16,962

0.48%

17,272

0.71%

Money market deposits

37,434

2.40%

36,296

2.40%

37,257

3.06%

CDs $250,000 or less

10,841

3.46%

10,494

3.52%

10,543

4.07%

Total interest-bearing core deposits

121,275

2.38%

120,490

2.36%

123,677

2.97%

CDs over $250,000

2,244

4.00%

2,200

4.07%

3,499

5.08%

Total interest-bearing deposits

123,519

2.41%

122,690

2.39%

127,176

3.03%

Federal funds purchased

198

4.35%

206

4.39%

176

5.34%

Securities sold under repurchase agreements

376

1.65%

353

1.16%

396

2.36%

FHLB advances

4,920

4.51%

4,976

4.59%

2,576

5.59%

Derivative collateral and other secured borrowings

82

6.13%

89

5.61%

52

14.76%

Long-term debt

14,001

5.31%

14,599

5.36%

16,716

5.65%

Total interest-bearing liabilities

143,096

2.77%

142,913

2.78%

147,092

3.38%

Demand deposits

41,235

40,885

40,020

Other liabilities

6,223

6,086

6,475

Total Liabilities

190,554

189,884

193,587

Total Equity

21,216

20,670

20,251

Total Liabilities and Equity

$211,770

$210,554

$213,838

Ratios:

Net interest margin (FTE) (b)

3.13%

3.12%

2.90%

Net interest rate spread (FTE) (b)

2.41%

2.40%

2.05%

Interest-bearing liabilities to interest-earning assets

73.95%

74.17%

75.11%

(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)

2025

2024

Average

Average

Average

Average

Balance

Yield/Rate

Balance

Yield/Rate

Assets

Interest-earning assets:

Loans and leases:

Commercial and industrial loans (a)

$53,916

6.23%

$52,423

7.12%

Commercial mortgage loans (a)

12,282

6.12%

11,394

6.27%

Commercial construction loans (a)

5,720

7.09%

5,877

7.16%

Commercial leases (a)

3,136

4.77%

2,602

4.37%

Total commercial loans and leases

75,054

6.22%

72,296

6.89%

Residential mortgage loans

18,139

3.99%

17,412

3.64%

Home equity

4,396

7.47%

3,960

8.35%

Indirect secured consumer loans

17,156

5.62%

15,410

5.18%

Credit card

1,655

14.44%

1,736

13.53%

Solar energy installation loans

4,282

8.30%

3,900

8.08%

Other consumer loans

2,465

9.24%

2,752

9.16%

Total consumer loans

48,093

5.90%

45,170

5.68%

Total loans and leases

123,147

6.09%

117,466

6.43%

Securities:

Taxable securities

54,441

3.26%

55,196

3.26%

Tax exempt securities (a)

1,362

3.18%

1,395

3.28%

Other short-term investments

14,050

4.54%

21,174

5.57%

Total interest-earning assets

193,000

5.16%

195,231

5.42%

Cash and due from banks

2,437

2,681

Other assets

17,911

17,571

Allowance for loan and lease losses

(2,383)

(2,309)

Total Assets

$210,965

$213,174

Liabilities

Interest-bearing liabilities:

Interest checking deposits

$57,103

2.70%

$58,528

3.38%

Savings deposits

16,852

0.49%

17,707

0.69%

Money market deposits

36,731

2.41%

35,791

2.99%

CDs $250,000 or less

10,574

3.54%

10,518

4.15%

Total interest-bearing core deposits

121,260

2.38%

122,544

2.95%

CDs over $250,000

2,263

4.17%

4,585

5.16%

Total interest-bearing deposits

123,523

2.41%

127,129

3.03%

Federal funds purchased

199

4.37%

202

5.39%

Securities sold under repurchase agreements

339

1.27%

378

2.06%

FHLB advances

4,888

4.57%

2,949

5.68%

Derivative collateral and other secured borrowings

85

6.06%

55

9.50%

Long-term debt

14,393

5.35%

15,951

5.71%

Total interest-bearing liabilities

143,427

2.78%

146,664

3.37%

Demand deposits

40,641

40,374

Other liabilities

6,264

6,904

Total Liabilities

190,332

193,942

Total Equity

20,633

19,232

Total Liabilities and Equity

$210,965

$213,174

Ratios:

Net interest margin (FTE) (b)

3.10%

2.88%

Net interest rate spread (FTE) (b)

2.38%

2.05%

Interest-bearing liabilities to interest-earning assets

74.31%

75.12%

(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

2025

2025

2025

2024

2024

Average Portfolio Loans and Leases

Commercial loans and leases:

Commercial and industrial loans

$54,170

$54,075

$53,401

$51,567

$51,615

Commercial mortgage loans

12,027

12,410

12,368

11,792

11,488

Commercial construction loans

5,541

5,810

5,797

5,702

5,981

Commercial leases

3,177

3,120

3,110

2,902

2,685

Total commercial loans and leases

74,915

75,415

74,676

71,963

71,769

Consumer loans:

Residential mortgage loans

17,656

17,615

17,552

17,322

17,031

Home equity

4,579

4,383

4,222

4,125

4,018

Indirect secured consumer loans

17,729

17,248

16,476

16,100

15,680

Credit card

1,678

1,659

1,627

1,668

1,708

Solar energy installation loans

4,355

4,268

4,221

4,137

3,990

Other consumer loans

2,414

2,483

2,498

2,545

2,630

Total consumer loans

48,411

47,656

46,596

45,897

45,057

Total average portfolio loans and leases

$123,326

$123,071

$121,272

$117,860

$116,826

Average Loans and Leases Held for Sale

Commercial loans and leases held for sale

$44

$45

$64

$48

$16

Consumer loans held for sale

623

541

428

584

573

Average loans and leases held for sale

$667

$586

$492

$632

$589

End of Period Portfolio Loans and Leases

Commercial loans and leases:

Commercial and industrial loans

$53,947

$53,312

$53,700

$52,271

$50,916

Commercial mortgage loans

11,932

12,112

12,357

12,246

11,394

Commercial construction loans

5,326

5,551

5,952

5,588

5,947

Commercial leases

3,218

3,177

3,128

3,188

2,873

Total commercial loans and leases

74,423

74,152

75,137

73,293

71,130

Consumer loans:

Residential mortgage loans

17,644

17,681

17,581

17,543

17,166

Home equity

4,678

4,485

4,265

4,188

4,074

Indirect secured consumer loans

17,885

17,591

16,804

16,313

15,942

Credit card

1,692

1,707

1,660

1,734

1,703

Solar energy installation loans

4,432

4,316

4,262

4,202

4,078

Other consumer loans

2,376

2,464

2,482

2,518

2,575

Total consumer loans

48,707

48,244

47,054

46,498

45,538

Total portfolio loans and leases

$123,130

$122,396

$122,191

$119,791

$116,668

End of Period Loans and Leases Held for Sale

Commercial loans and leases held for sale

$8

$74

$28

$66

$100

Consumer loans held for sale

568

572

445

574

512

Loans and leases held for sale

$576

$646

$473

$640

$612

Operating lease equipment

$379

$344

$314

$319

$357

Loans and Leases Serviced for Others (a)

Commercial and industrial loans

$1,206

$1,166

$1,104

$1,071

$1,178

Commercial mortgage loans

558

601

603

579

515

Commercial construction loans

304

333

367

348

342

Commercial leases

764

757

755

725

773

Residential mortgage loans

89,639

91,201

92,769

94,225

95,808

Solar energy installation loans

692

557

575

593

610

Other consumer loans

98

105

112

119

126

Total loans and leases serviced for others

93,261

94,720

96,285

97,660

99,352

Total loans and leases owned or serviced

$217,346

$218,106

$219,263

$218,410

$216,989

Fifth Third Bancorp and Subsidiaries

Regulatory Capital

$ in millions

As of

(unaudited)

September

June

March

December

September

2025 (a)

2025

2025

2024

2024

Regulatory Capital (b)

CET1 capital

$17,646

$17,616

$17,239

$17,339

$17,272

Additional tier 1 capital

1,770

2,116

2,116

2,116

2,116

Tier 1 capital

19,416

19,732

19,355

19,455

19,388

Tier 2 capital

3,209

3,197

3,175

3,291

3,303

Total regulatory capital

$22,625

$22,929

$22,530

$22,746

$22,691

Risk-weighted assets

$167,415

$166,517

$165,326

$164,102

$160,604

Ratios

Average total Bancorp shareholders' equity as a percent of average assets

10.02%

9.82%

9.50%

9.40%

9.47%

Regulatory Capital Ratios (b)

Fifth Third Bancorp

CET1 capital

10.54%

10.58%

10.43%

10.57%

10.75%

Tier 1 risk-based capital

11.60%

11.85%

11.71%

11.86%

12.07%

Total risk-based capital

13.51%

13.77%

13.63%

13.86%

14.13%

Leverage

9.24%

9.42%

9.23%

9.22%

9.11%

Fifth Third Bank, National Association

Tier 1 risk-based capital

12.92%

12.87%

12.78%

12.86%

12.99%

Total risk-based capital

14.16%

14.12%

14.02%

14.19%

14.32%

Leverage

10.30%

10.25%

10.10%

10.02%

9.82%

(a) Current period regulatory capital data and ratios are estimated.

(b) Regulatory capital ratios as of December 31, 2024 and September 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

For the Three Months Ended

(unaudited)

September

June

March

December

September

2025

2025

2025

2024

2024

Average portfolio loans and leases:

Commercial and industrial loans

$54,170

$54,075

$53,401

$51,567

$51,615

Commercial mortgage loans

12,027

12,410

12,368

11,792

11,488

Commercial construction loans

5,541

5,810

5,797

5,702

5,981

Commercial leases

3,177

3,120

3,110

2,902

2,685

Total commercial loans and leases

74,915

75,415

74,676

71,963

71,769

Residential mortgage loans

17,656

17,615

17,552

17,322

17,031

Home equity

4,579

4,383

4,222

4,125

4,018

Indirect secured consumer loans

17,729

17,248

16,476

16,100

15,680

Credit card

1,678

1,659

1,627

1,668

1,708

Solar energy installation loans

4,355

4,268

4,221

4,137

3,990

Other consumer loans

2,414

2,483

2,498

2,545

2,630

Total consumer loans

48,411

47,656

46,596

45,897

45,057

Total average portfolio loans and leases

$123,326

$123,071

$121,272

$117,860

$116,826

Losses charged-off:

Commercial and industrial loans

($280)

($84)

($54)

($61)

($80)

Commercial mortgage loans

(2)

(4)

(11)

—

—

Commercial construction loans

—

—

—

—

—

Commercial leases

—

(2)

(2)

(2)

—

Total commercial loans and leases

(282)

(90)

(67)

(63)

(80)

Residential mortgage loans

—

—

—

(1)

—

Home equity

(1)

(2)

(2)

(2)

(1)

Indirect secured consumer loans

(34)

(33)

(36)

(39)

(35)

Credit card

(20)

(20)

(22)

(21)

(21)

Solar energy installation loans

(20)

(23)

(21)

(20)

(16)

Other consumer loans

(25)

(26)

(25)

(29)

(30)

Total consumer loans

(100)

(104)

(106)

(112)

(103)

Total losses charged-off

($382)

($194)

($173)

($175)

($183)

Recoveries of losses previously charged-off:

Commercial and industrial loans

$6

$15

$2

$6

$8

Commercial mortgage loans

1

1

1

—

—

Commercial construction loans

—

—

—

—

—

Commercial leases

—

3

—

—

—

Total commercial loans and leases

7

19

3

6

8

Residential mortgage loans

1

1

—

1

1

Home equity

2

2

2

2

1

Indirect secured consumer loans

16

17

15

12

13

Credit card

4

5

5

4

5

Solar energy installation loans

4

3

3

3

2

Other consumer loans

9

8

9

11

11

Total consumer loans

36

36

34

33

33

Total recoveries of losses previously charged-off

$43

$55

$37

$39

$41

Net losses charged-off:

Commercial and industrial loans

($274)

($69)

($52)

($55)

($72)

Commercial mortgage loans

(1)

(3)

(10)

—

—

Commercial construction loans

—

—

—

—

—

Commercial leases

—

1

(2)

(2)

—

Total commercial loans and leases

(275)

(71)

(64)

(57)

(72)

Residential mortgage loans

1

1

—

—

1

Home equity

1

—

—

—

—

Indirect secured consumer loans

(18)

(16)

(21)

(27)

(22)

Credit card

(16)

(15)

(17)

(17)

(16)

Solar energy installation loans

(16)

(20)

(18)

(17)

(14)

Other consumer loans

(16)

(18)

(16)

(18)

(19)

Total consumer loans

(64)

(68)

(72)

(79)

(70)

Total net losses charged-off

($339)

($139)

($136)

($136)

($142)

Net losses charged-off as a percent of average portfolio loans and leases (annualized):

Commercial and industrial loans

2.01%

0.51%

0.39%

0.42%

0.55%

Commercial mortgage loans

0.04%

0.11%

0.34%

0.01%

—

Commercial construction loans

—

—

—

—

—

Commercial leases

(0.04%)

(0.10%)

0.29%

0.32%

(0.01%)

Total commercial loans and leases

1.46%

0.38%

0.35%

0.32%

0.40%

Residential mortgage loans

(0.02%)

(0.01%)

—

(0.01%)

(0.02%)

Home equity

(0.05%)

0.02%

0.04%

(0.01%)

(0.02%)

Indirect secured consumer loans

0.40%

0.37%

0.53%

0.66%

0.54%

Credit card

3.70%

3.74%

4.19%

4.00%

3.74%

Solar energy installation loans

1.47%

1.86%

1.73%

1.64%

1.44%

Other consumer loans

2.51%

2.49%

2.52%

2.84%

3.00%

Total consumer loans

0.52%

0.56%

0.63%

0.68%

0.62%

Total net losses charged-off as a percent of average portfolio loans and leases (annualized)

1.09%

0.45%

0.46%

0.46%

0.48%

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

For the Three Months Ended

(unaudited)

September

June

March

December

September

2025

2025

2025

2024

2024

Allowance for Credit Losses

Allowance for loan and lease losses, beginning

$2,412

$2,384

$2,352

$2,305

$2,288

Total net losses charged-off

(339)

(139)

(136)

(136)

(142)

Provision for loan and lease losses

192

167

168

183

159

Allowance for loan and lease losses, ending

$2,265

$2,412

$2,384

$2,352

$2,305

Reserve for unfunded commitments, beginning

$146

$140

$134

$138

$137

Provision for (benefit from) the reserve for unfunded commitments

5

6

6

(4)

1

Reserve for unfunded commitments, ending

$151

$146

$140

$134

$138

Components of allowance for credit losses:

Allowance for loan and lease losses

$2,265

$2,412

$2,384

$2,352

$2,305

Reserve for unfunded commitments

151

146

140

134

138

Total allowance for credit losses

$2,416

$2,558

$2,524

$2,486

$2,443

As of

September

June

March

December

September

2025

2025

2025

2024

2024

Nonperforming Assets and Delinquent Loans

Nonaccrual portfolio loans and leases:

Commercial and industrial loans

$393

$460

$537

$374

$255

Commercial mortgage loans

42

48

70

79

78

Commercial construction loans

—

—

—

1

1

Commercial leases

—

—

16

2

—

Residential mortgage loans

142

143

145

137

131

Home equity

72

75

69

70

67

Indirect secured consumer loans

61

65

60

55

50

Credit card

29

29

31

32

31

Solar energy installation loans

22

26

30

64

64

Other consumer loans

7

7

8

9

9

Total nonaccrual portfolio loans and leases

768

853

966

823

686

Repossessed property

12

8

9

9

11

OREO

21

25

21

21

28

Total nonperforming portfolio loans and leases and OREO

801

886

996

853

725

Nonaccrual loans held for sale

4

27

21

7

8

Total nonperforming assets

$805

$913

$1,017

$860

$733

Loans and leases 90 days past due (accrual):

Commercial and industrial loans

$2

$5

$2

$5

$10

Commercial mortgage loans

—

3

6

—

3

Commercial leases

—

—

—

1

1

Total commercial loans and leases

2

8

8

6

14

Residential mortgage loans (c)

11

8

8

6

8

Credit card

16

18

17

20

18

Total consumer loans

27

26

25

26

26

Total loans and leases 90 days past due (accrual) (b)

$29

$34

$33

$32

$40

Ratios

Net losses charged-off as a percent of average portfolio loans and leases (annualized)

1.09%

0.45%

0.46%

0.46%

0.48%

Allowance for credit losses:

As a percent of portfolio loans and leases

1.96%

2.09%

2.07%

2.08%

2.09%

As a percent of nonperforming portfolio loans and leases (a)

314%

300%

261%

302%

356%

As a percent of nonperforming portfolio assets (a)

302%

289%

253%

291%

337%

Nonperforming portfolio loans and leases as a percent of portfolio loans and leases (a)

0.62%

0.70%

0.79%

0.69%

0.59%

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO (a)

0.65%

0.72%

0.81%

0.71%

0.62%

Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property

0.65%

0.74%

0.83%

0.71%

0.62%

(a) Excludes nonaccrual loans held for sale.

(b) Excludes loans held for sale.

(c) Excludes government guaranteed residential mortgage loans.

Use of Non-GAAP Financial Measures

In addition to GAAP measures, management considers various non-GAAP measures when evaluating the performance of the business, including: “net interest income (FTE),” “interest income (FTE),” “net interest margin (FTE),” “net interest rate spread (FTE),” “income before income taxes (FTE),” “tangible net income available to common shareholders,” “average tangible common equity,” “return on average tangible common equity,” “tangible common equity (excluding AOCI),” “tangible common equity (including AOCI),” “tangible equity,” “tangible book value per share,” “tangible book value per share (excluding AOCI),” “adjusted noninterest income,” “noninterest income excluding certain items,” “adjusted noninterest expense,” “noninterest expense excluding certain items,” “pre-provision net revenue,” “adjusted efficiency ratio,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” “adjusted return on average tangible common equity, excluding accumulated other comprehensive income", “adjusted pre-provision net revenue,” “adjusted return on average assets,” “efficiency ratio (FTE),” “total revenue (FTE),” "adjusted total revenue," “noninterest income as a percent of total revenue”, and certain ratios derived from these measures. The Bancorp believes these non-GAAP measures provide useful information to investors because these are among the measures used by the Fifth Third management team to evaluate operating performance and to make day-to-day operating decisions.

The FTE basis adjusts for the tax-favored status of income from certain loans and securities held by the Bancorp that are not taxable for federal income tax purposes. The Bancorp believes this presentation to be the preferred industry measurement of net interest income and net interest margin as it provides a relevant comparison between taxable and non-taxable amounts.

The Bancorp believes tangible net income available to common shareholders, average tangible common equity, tangible common equity (excluding AOCI), tangible common equity (including AOCI), tangible equity, tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of the business without the impacts of intangible items, whether acquired or created internally, in a manner comparable to other companies in the industry who present similar measures.

The Bancorp believes noninterest income, noninterest expense, net interest income, net interest margin, pre-provision net revenue, efficiency ratio, adjusted total revenue, noninterest income as a percent of total revenue, return on average common equity, return on average tangible common equity, and return on average assets are important measures that adjust for significant, unusual, or large transactions that may occur in a reporting period which management does not consider indicative of ongoing financial performance and enhances comparability of results with prior periods.

The Bancorp believes noninterest income excluding certain items and noninterest expense excluding certain items are important measures that adjust for certain components that are prone to significant period-to-period changes in order to facilitate the explanation of variances in the noninterest income and noninterest expense line items.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding AOCI), in addition to capital ratios defined by U.S. banking agencies. These calculations are intended to complement the capital ratios defined by U.S. banking agencies for both absolute and comparative purposes. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be non-GAAP financial measures. Management believes that providing the tangible common equity ratio excluding AOCI on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of changes in AOCI, some of which are uncertain; providing the tangible common equity ratio including AOCI enables investors and others to assess the Bancorp’s use of equity if components of AOCI, such as unrealized gains or losses, were to be monetized.

Please note that although non-GAAP financial measures provide useful insight, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.

Please see reconciliations of all historical non-GAAP measures used in this release to the most directly comparable GAAP measures, beginning on the following page.

Fifth Third Bancorp and Subsidiaries

Non-GAAP Reconciliation

$ and shares in millions

As of and For the Three Months Ended

(unaudited)

September

June

March

December

September

2025

2025

2025

2024

2024

Net interest income

$1,520

$1,495

$1,437

$1,437

$1,421

Add: Taxable equivalent adjustment

5

5

5

6

6

Net interest income (FTE) (a)

1,525

1,500

1,442

1,443

1,427

Net interest income (annualized) (b)

6,030

5,996

5,828

5,717

5,653

Net interest income (FTE) (annualized) (c)

6,050

6,016

5,848

5,741

5,677

Interest income

2,519

2,484

2,432

2,528

2,669

Add: Taxable equivalent adjustment

5

5

5

6

6

Interest income (FTE)

2,524

2,489

2,437

2,534

2,675

Interest income (FTE) (annualized) (d)

10,014

9,983

9,883

10,081

10,642

Interest expense (annualized) (e)

3,963

3,967

4,035

4,340

4,965

Average interest-earning assets (f)

193,500

192,682

192,808

193,513

195,836

Average interest-bearing liabilities (g)

143,096

142,913

144,285

144,771

147,092

Net interest margin (b) / (f)

3.12 %

3.11 %

3.02 %

2.95 %

2.89 %

Net interest margin (FTE) (c) / (f)

3.13 %

3.12 %

3.03 %

2.97 %

2.90 %

Net interest rate spread (FTE) (d) / (f) - (e) / (g)

2.41 %

2.40 %

2.33 %

2.21 %

2.05 %

Income before income taxes

$837

$808

$653

$764

$728

Add: Taxable equivalent adjustment

5

5

5

6

6

Income before income taxes (FTE)

842

813

658

770

734

Net income available to common shareholders

608

591

478

582

532

Add: Intangible amortization, net of tax

5

5

6

7

7

Tangible net income available to common shareholders (h)

613

596

484

589

539

Tangible net income available to common shareholders (annualized) (i)

2,432

2,391

1,963

2,343

2,144

Average Bancorp shareholders’ equity

21,216

20,670

20,000

19,893

20,251

Less: Average preferred stock

(2,112)

(2,116)

(2,116)

(2,116)

(2,116)

Average goodwill

(4,937)

(4,918)

(4,918)

(4,918)

(4,918)

Average intangible assets

(77)

(79)

(86)

(94)

(103)

Average tangible common equity, including AOCI (j)

14,090

13,557

12,880

12,765

13,114

Less: Average AOCI

3,520

3,935

4,362

4,292

3,914

Average tangible common equity, excluding AOCI (k)

17,610

17,492

17,242

17,057

17,028

Total Bancorp shareholders’ equity

21,107

21,124

20,403

19,645

20,784

Less: Preferred stock

(1,770)

(2,116)

(2,116)

(2,116)

(2,116)

Goodwill

(4,947)

(4,918)

(4,918)

(4,918)

(4,918)

Intangible assets

(76)

(75)

(82)

(90)

(98)

Tangible common equity, including AOCI (l)

14,314

14,015

13,287

12,521

13,652

Less: AOCI

3,276

3,546

3,895

4,636

3,446

Tangible common equity, excluding AOCI (m)

17,590

17,561

17,182

17,157

17,098

Add: Preferred stock

1,770

2,116

2,116

2,116

2,116

Tangible equity (n)

19,360

19,677

19,298

19,273

19,214

Total assets

212,903

209,991

212,669

212,927

214,318

Less: Goodwill

(4,947)

(4,918)

(4,918)

(4,918)

(4,918)

Intangible assets

(76)

(75)

(82)

(90)

(98)

Tangible assets, including AOCI (o)

207,880

204,998

207,669

207,919

209,302

Less: AOCI, before tax

4,311

4,666

5,125

5,868

4,362

Tangible assets, excluding AOCI (p)

$212,191

$209,664

$212,794

$213,787

$213,664

Common shares outstanding (q)

661

668

667

670

676

Tangible equity (n) / (p)

9.12%

9.39%

9.07%

9.02%

8.99%

Tangible common equity (excluding AOCI) (m) / (p)

8.29%

8.38%

8.07%

8.03%

8.00%

Tangible common equity (including AOCI) (l) / (o)

6.89%

6.84%

6.40%

6.02%

6.52%

Tangible book value per share (including AOCI) (l) / (q)

$21.66

$20.98

$19.92

$18.69

$20.20

Tangible book value per share (excluding AOCI) (m) / (q)

$26.61

$26.29

$25.76

$25.61

$25.29

Fifth Third Bancorp and Subsidiaries

Non-GAAP Reconciliation

$ in millions

For the Three Months Ended

(unaudited)

September

June

September

2025

2025

2024

Net income (r)

$649

$628

$573

Net income (annualized) (s)

2,575

2,519

2,280

Adjustments (pre-tax items)

Interchange litigation matters

27

1

57

Severance expense

—

15

9

Non-qualified deferred compensation expense/(benefit)

11

16

10

Securities (gains)/losses

(10)

(16)

(10)

FDIC special assessment

(6)

—

—

Adjustments, after-tax (t) (a)

16

12

51

Noninterest income (u)

781

750

711

Interchange litigation matters

18

1

47

Noninterest income excluding certain item(s)

799

751

758

Securities (gains)/losses

(10)

(16)

(10)

Adjusted noninterest income, excluding certain items and securities (gains)/losses (v)

789

735

748

Noninterest expense (w)

1,267

1,264

1,244

Interchange litigation matters

(9)

—

(10)

Severance expense

—

(15)

(9)

FDIC special assessment

6

—

—

Noninterest expense excluding certain item(s)

1,264

1,249

1,225

Non-qualified deferred compensation (expense)/benefit

(11)

(16)

(10)

Adjusted noninterest expense, excluding certain items and non-qualified deferred compensation (x)

1,253

1,233

1,215

Adjusted net income (r) + (t)

665

640

624

Adjusted net income (annualized) (y)

2,638

2,567

2,482

Adjusted tangible net income available to common shareholders (h) + (t)

629

608

590

Adjusted tangible net income available to common shareholders (annualized) (z)

2,495

2,439

2,347

Average assets (aa)

$211,770

$210,554

$213,838

Return on average tangible common equity (i) / (j)

17.3%

17.6%

16.3%

Return on average tangible common equity excluding AOCI (i) / (k)

13.8%

13.7%

12.6%

Adjusted return on average tangible common equity, including AOCI (z) / (j)

17.7%

18.0%

17.9%

Adjusted return on average tangible common equity, excluding AOCI (z) / (k)

14.2%

13.9%

13.8%

Return on average assets (s) / (aa)

1.21%

1.20%

1.06%

Adjusted return on average assets (y) / (aa)

1.25%

1.22%

1.16%

Efficiency ratio (FTE) (w) / [(a) + (u)]

54.9%

56.2%

58.2%

Adjusted efficiency ratio (x) / [(a) + (v)]

54.1%

55.2%

55.9%

Total revenue (FTE) (a) + (u)

$2,306

$2,250

$2,138

Adjusted total revenue (FTE) (a) + (v)

$2,314

$2,235

$2,175

Pre-provision net revenue (PPNR) (a) + (u) - (w)

$1,039

$986

$894

Adjusted pre-provision net revenue (PPNR) (a) + (v) - (x)

$1,061

$1,002

$960

Totals may not foot due to rounding.

(a) Assumes a 23% tax rate in 2024 and a 24% tax rate in 2025.

Fifth Third Bancorp and Subsidiaries

Segment Presentation (b)

$ in millions

(unaudited)

For the three months ended September 30, 2025

Commercial Banking

Consumer and Small Business Banking

Wealth

and Asset Management

General Corporate

and Other

Total

Net interest income (FTE) (a)

$594

$1,082

$55

$(206)

$1,525

(Provision for) benefit from credit losses

(246)

(73)

—

122

(197)

Net interest income after (provision for) benefit from credit losses

348

1,009

55

(84)

1,328

Noninterest income

357

309

109

6

781

Noninterest expense

(454)

(653)

(93)

(67)

(1,267)

Income (loss) before income taxes (FTE) (a)

$251

$665

$71

$(145)

$842

For the three months ended June 30, 2025

Commercial Banking

Consumer and Small Business Banking

Wealth

and Asset Management

General Corporate

and Other

Total

Net interest income (FTE) (a)

$595

$1,085

$57

$(237)

$1,500

(Provision for) benefit from credit losses

(79)

(84)

2

(12)

(173)

Net interest income after (provision for) benefit from credit losses

516

1,001

59

(249)

1,327

Noninterest income

321

293

101

35

750

Noninterest expense

(453)

(646)

(95)

(70)

(1,264)

Income (loss) before income taxes (FTE) (a)

$384

$648

$65

$(284)

$813

For the three months ended March 31, 2025

Commercial Banking

Consumer and Small Business Banking

Wealth

and Asset Management

General Corporate

and Other

Total

Net interest income (FTE) (a)

$552

$975

$49

$(134)

$1,442

Provision for credit losses

(80)

(84)

—

(10)

(174)

Net interest income after provision for credit losses

472

891

49

(144)

1,268

Noninterest income

301

281

109

3

694

Noninterest expense

(511)

(650)

(106)

(37)

(1,304)

Income (loss) before income taxes (FTE) (a)

$262

$522

$52

$(178)

$658

For the three months ended December 31, 2024

Commercial Banking

Consumer and Small Business Banking

Wealth

and Asset Management

General Corporate

and Other

Total

Net interest income (FTE) (a)

$598

$984

$48

$(187)

$1,443

Provision for credit losses

(21)

(89)

—

(69)

(179)

Net interest income after provision for credit losses

577

895

48

(256)

1,264

Noninterest income

373

278

103

(22)

732

Noninterest expense

(452)

(617)

(94)

(63)

(1,226)

Income (loss) before income taxes (FTE) (a)

$498

$556

$57

$(341)

$770

For the three months ended September 30, 2024

Commercial Banking

Consumer and Small Business Banking

Wealth

and Asset Management

General Corporate

and Other

Total

Net interest income (FTE) (a)

$648

$1,056

$50

$(327)

$1,427

Provision for credit losses

(76)

(78)

—

(6)

(160)

Net interest income after provision for credit losses

572

978

50

(333)

1,267

Noninterest income

354

283

99

(25)

711

Noninterest expense

(460)

(614)

(95)

(75)

(1,244)

Income (loss) before income taxes (FTE) (a)

$466

$647

$54

$(433)

$734

(a) Includes taxable equivalent adjustments of $5 million for the three months ended September 30, 2025, June 30, 2025 and March 31, 2025 and $6 million for the three months ended December 31, 2024 and September 30, 2024.

(b) During the first quarter of 2025, the Bancorp realigned its reporting structure and moved certain business banking customer relationships and relationship management personnel to the Consumer and Small Business Banking segment from the Commercial Banking segment. Prior period results have been adjusted to reflect current presentation.

Category: Earnings