Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 550

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 550
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 — — 1,734 Solar energy installation loans194 550 1,756 1,702 4,202 Other consumer loans1,026 887 556 49 2,518 Total consumer loans7,481 14,566 12,070 12,381 46,498 Total portfolio loans and leases$25,776 65,604 15,818 12,593 119,791 

The following table displays a summary of cash flows, excluding interest receivable, occurring after one year for both fixed and floating/adjustable-rate loans and leases as of December 31, 2024:

TABLE 61:  Cash Flows from Portfolio Loans and Leases Occurring After One YearInterest Rate($ in millions)Fixed  Floating or AdjustableCommercial and industrial loans$4,338 36,352 Commercial mortgage loans1,956 6,527 Commercial construction loans123 3,277 Commercial leases2,425 — Total commercial loans and leases8,842 46,156 Residential mortgage loans12,410 4,197 Home equity354 3,555 Indirect secured consumer loans12,994 7 Solar energy installation loans4,008 — Other consumer loans1,252 240 Total consumer loans31,018 7,999 Total portfolio loans and leases$39,860 54,155 

Residential Mortgage Servicing Rights and Price Risk

The fair value of the residential MSR portfolio was $1.7 billion at both December 31, 2024 and 2023. The value of servicing rights can fluctuate sharply depending on changes in interest rates and other factors. Generally, as interest rates decline and loans are prepaid to take advantage of refinancing, the total value of existing servicing rights declines because no further servicing fees are collected on repaid loans. For further information on the significant drivers and components of the valuation adjustments on MSRs, refer to the Noninterest Income subsection of the Statements of Income Analysis section of MD&A. The Bancorp maintains a non-qualifying hedging strategy relative to its mortgage banking activity in order to manage a portion of the risk associated with changes in the value of its MSR portfolio as a result of changing interest rates. The Bancorp may adjust its hedging strategy to reflect its assessment of the composition of its MSR portfolio, the cost of hedging and the anticipated effectiveness of the hedges given the economic