Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 38

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 7
Chunk 38
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 Borrowings($ in millions)June 30,2025June 30,2024Federal funds purchased$206 230 Other short-term borrowings5,418 3,592 Long-term debt14,599 15,611 Total average borrowings$20,223 19,433 

Total average borrowings increased $790 million, or 4%, for the three months ended June 30, 2025 compared to the same period in the prior year primarily due to an increase in average other short-term borrowings partially offset by a decrease in average long-term debt. Average other short-term borrowings increased $1.8 billion for the three months ended June 30, 2025 compared to the same period in the prior year primarily due to increased funding needs resulting from loan growth and a decrease in core deposits. Average long-term debt decreased $1.0 billion for the three months ended June 30, 2025 compared to the same period in the prior year primarily driven by redemptions or maturities of $1.8 billion of notes, a $1.5 billion reduction in long-term FHLB advances and $450 million of paydowns associated with loan securitizations since June 30, 2024. These decreases were partially offset by the issuance of $750 million of senior fixed-rate/floating-rate notes in September 2024, the issuance of $1.0 billion of senior fixed-rate/floating-rate notes in January 2025 and $154 million of fair value adjustments associated with hedged long-term debt since June 30, 2024. Information on the average rates paid on borrowings is discussed in the Net Interest Income subsection of the Statements of Income Analysis section of MD&A. In addition, refer to the Liquidity Risk Management subsection of the Risk Management section of MD&A for a discussion on the role of borrowings in the Bancorp’s liquidity management.

25

Table of ContentsManagement’s Discussion and Analysis of Financial Condition and Results of Operations (continued)

BUSINESS SEGMENT REVIEW

The Bancorp has three reportable segments: Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management. Additional information on each segment is included in Note 19 of the Notes to Condensed Consolidated Financial Statements. Results of the Bancorp’s segments are presented based on its management structure and management accounting practices, which are specific to the Bancorp. Therefore, the financial results of the Bancorp’s segments are not necessarily comparable with similar information for other