Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 39

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 7
Chunk 39
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,2025December 31,2024Federal funds purchased$183 204 Other short-term borrowings5,077 4,450 Long-term debt13,677 14,337 Total borrowings$18,937 18,991 

Total borrowings decreased $54 million from December 31, 2024 primarily due to a decrease in long-term debt partially offset by an increase in other short-term borrowings. Long-term debt decreased $660 million from December 31, 2024 primarily due to redemptions or maturities of $1.5 billion of notes and $311 million of paydowns associated with loan securitizations. These decreases were partially offset by the issuance of $1.0 billion of senior fixed-rate/floating-rate notes in January 2025 and $120 million of fair value adjustments associated with hedged long-term debt. Other short-term borrowings increased $627 million from December 31, 2024 primarily due to an increase in short-term FHLB advances to support on-balance sheet liquidity levels. The level of other short-term borrowings and mix of total borrowings can fluctuate significantly from period to period depending on funding needs and the sources that are used to satisfy those needs. For further information on the components of other short-term borrowings, refer to Note 10 of the Notes to Condensed Consolidated Financial Statements. 

The following table summarizes components of average borrowings for the three months ended:

TABLE 23:  Components of Average Borrowings($ in millions)September 30,2025September 30,2024Federal funds purchased$198 176 Other short-term borrowings5,378 3,024 Long-term debt14,001 16,716 Total average borrowings$19,577 19,916 

Total average borrowings decreased $339 million, or 2%, for the three months ended September 30, 2025 compared to the same period in the prior year primarily due to a decrease in average long-term debt partially offset by an increase in average other short-term borrowings. Average long-term debt decreased $2.7 billion for the three months ended September 30, 2025 compared to the same period in the prior year primarily driven by redemptions or maturities of $2.5 billion of notes, a $1.5 billion reduction in long-term FHLB advances and $425 million of paydowns associated with loan securitizations since September