Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 23

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 7
Chunk 23
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 with the sale of Visa, Inc. Class B Shares and increases in equity method investment income. 

Net securities gains were $16 million and $7 million for the three and six months ended June 30, 2025, respectively, compared to $3 million and $13 million for the three and six months ended June 30, 2024, respectively. For more information, refer to Note 4 of the Notes to Condensed Consolidated Financial Statements.

Noninterest Expense

Noninterest expense increased $43 million and $6 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year.

The following table presents the components of noninterest expense:

TABLE 10:  Components of Noninterest ExpenseFor the three months endedJune 30,For the six months endedJune 30,($ in millions)20252024% Change20252024% ChangeCompensation and benefits$698 656 6$1,447 1,409 3Technology and communications126 114 11250 231 8Net occupancy expense83 83 —171 170 1Equipment expense41 38 882 76 8Marketing expense43 34 2671 66 8Loan and lease expense36 33 966 62 6Card and processing expense22 21 543 41 5Other noninterest expense215 242 (11)438 507 (14)Total noninterest expense$1,264 1,221 4$2,568 2,562 —Efficiency ratio on an FTE basis(a)56.2 %58.5 58.6 61.2 

(a)This is a non-GAAP measure. For further information, refer to the Non-GAAP Financial Measures section of MD&A.

Compensation and benefits expense increased $42 million and $38 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily driven by increases in performance-based compensation, base compensation and severance expense. The increase for the three months ended June 30, 2025 also included an increase in non-qualified deferred compensation expense. Full-time equivalent employees totaled 18,690 at June 30, 2025 compared to 18,607 at June 30, 2024.

Technology and communications expense increased $12 million and $19 million for the three and six months