Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 52

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 7
Chunk 52
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1  %$177 1  %FICO 660-7193,096 18 3,040 19 FICO ≥ 72013,529 81 13,096 80 Total$16,804 100  %$16,313 100  %

It is a common industry practice to advance on these types of loans an amount in excess of the collateral value due to the inclusion of negative equity trade-in, maintenance/warranty products, taxes, title and other fees paid at closing. The Bancorp monitors its exposure to these higher risk loans.

38

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

The following table provides an analysis of indirect secured consumer portfolio loans outstanding by LTV at origination as of:

TABLE 40:  Indirect Secured Consumer Portfolio Loans Outstanding by LTV at OriginationMarch 31, 2025December 31, 2024($ in millions)OutstandingWeighted- Average LTVOutstandingWeighted- Average LTVLTV ≤ 100%$12,144 79.9  %$11,822 79.8  %LTV > 100%4,660 110.1 4,491 110.1 Total$16,804 88.3  %$16,313 88.1  %

At March 31, 2025 and December 31, 2024, $26 million and $24 million, respectively, of the Bancorp’s nonaccrual indirect secured consumer portfolio loans had an LTV greater than 100% at origination. Net charge-offs on indirect secured consumer loans with an LTV greater than 100% at origination were $9 million and $11 million for the three months ended March 31, 2025 and 2024, respectively.

Credit card portfolio

The credit card portfolio consists of predominantly prime accounts with 98% of balances existing within the Bancorp’s footprint at both March 31, 2025 and December 31, 2024. At both March 31, 2025 and December 31, 2024, 72% of the outstanding balances were originated through branch-based relationships with the remainder coming from direct mail campaigns and online acquisitions.

Given the variable nature of the credit card portfolio, interest rate increases impact this product and it is regularly monitored to ensure the portfolio remains within the Bancorp’s