Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 24

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 7
Chunk 24
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 on the swap associated with the sale of Visa, Inc. Class B Shares and increases in equity method investment income.

Net securities gains were $10 million and $17 million for the three and nine months ended September 30, 2025, respectively, compared to $10 million and $23 million for the three and nine months ended September 30, 2024, respectively. For more information, refer to Note 4 of the Notes to Condensed Consolidated Financial Statements.

Noninterest Expense

Noninterest expense increased $23 million and $28 million for the three and nine months ended September 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 endedSeptember 30,For the nine months endedSeptember 30,($ in millions)20252024% Change20252024% ChangeCompensation and benefits$685 690 (1)$2,132 2,099 2Technology and communications128 121 6378 351 8Net occupancy expense89 81 10260 251 4Equipment expense44 38 16126 114 11Loan and lease expense39 34 15105 96 9Marketing expense34 26 31105 92 14Card and processing expense22 22 —65 63 3Other noninterest expense226 232 (3)664 741 (10)Total noninterest expense$1,267 1,244 2$3,835 3,807 1Efficiency ratio on an FTE basis(a)54.9 %58.2 57.3 60.2 

(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 $33 million for the nine months ended September 30, 2025 compared to the same period in the prior year primarily driven by increases in base compensation and performance-based compensation, partially offset by a decrease in employee benefits expense. Full-time equivalent employees totaled 18,476 at September 30, 2025 compared to 18,579 at September 30, 2024.

Technology and communications expense increased $7 million and $27 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily driven