Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 21

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 7
Chunk 21
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 and average commercial leases. Average commercial mortgage loans increased $1.0 billion, or 9%, for the three months ended March 31, 2025 compared to the same period in the prior year and included the impact of commercial construction loans transitioning to commercial mortgage loans and increased originations. Average commercial leases increased $567 million, or 22%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by an increase in lease originations as a result of a shift in business strategy in the second half of 2024.

Average consumer loans increased $2.2 billion, or 5%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to increases in average indirect secured consumer loans, average residential mortgage loans, average solar energy installation loans and average home equity, partially offset by a decrease in average other consumer loans. Average indirect secured consumer loans increased $1.3 billion, or 9%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by higher loan production during the second half of 2024 that has continued into 2025 following a planned reduction in balances in the second half of 2023. Average residential mortgage loans increased $712 million, or 4%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by an increase in held-for-investment loan originations and loan purchase transactions completed in the second half of 2024. Average solar energy installation loans increased $427 million, or 11%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to loan originations exceeding payoffs. Average home equity loans increased $289 million, or 7%, for the three months ended March 31, 2025 compared to the same period in the prior year as loan originations and new advances exceeded payoffs, driven by increased marketing efforts. Average other consumer loans decreased $392 million, or 14%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by paydowns of point-of-sale loans, including loans originated in connection with one third-party point-of-sale company with which the Bancorp discontinued the origination of new loans in September 2022.

17

Table of ContentsManagement’s Discussion and Analysis of Financial Condition and