Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 45

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 7
Chunk 45
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Table of ContentsManagement’s Discussion and Analysis of Financial Condition and Results of Operations (continued)

Nonaccrual assets with relationships exceeding $1 million are reviewed quarterly to assess the appropriateness of the value ascribed in the assessment of charge-offs and specific reserves. Additionally, collateral values are also reviewed at least annually for all criticized assets.

The Bancorp assesses all real estate and non-real estate collateral securing a loan and considers all cross-collateralized loans in the calculation of the LTV ratio. The following tables provide detail on the most recent LTV ratios for commercial mortgage loans greater than $1 million, excluding commercial mortgage loans that are individually evaluated for an ACL and loans which do not have real estate as the primary collateral. The Bancorp does not typically aggregate the LTV ratios for commercial mortgage loans less than $1 million.

TABLE 28:  Commercial Mortgage Loans Outstanding by LTV, Loans Greater Than $1 MillionAs of March 31, 2025 ($ in millions)LTV > 100%LTV 80-100%LTV < 80%Commercial mortgage owner-occupied loans$96 274 3,727 Commercial mortgage nonowner-occupied loans— 244 5,586 Total$96 518 9,313 TABLE 29:  Commercial Mortgage Loans Outstanding by LTV, Loans Greater Than $1 MillionAs of December 31, 2024 ($ in millions)LTV > 100%LTV 80-100%LTV < 80%Commercial mortgage owner-occupied loans$53 1373,753Commercial mortgage nonowner-occupied loans— 2885,615Total$53 4259,368

The Bancorp views nonowner-occupied commercial real estate as a higher credit risk product compared to some other commercial loan portfolios due to the higher volatility of the industry.

The following tables provide an analysis of nonowner-occupied commercial real estate loans, disaggregated by property location (excluding loans held for sale):

TABLE 30:  Nonowner-Occupied Commercial Real Estate (excluding loans held for sale)(a)As of March 31, 2025 ($ in millions)OutstandingExposure90 DaysPast DueNonaccrualBy State:Florida$1,769 2,564 — — Texas969 1,713 — — Michigan865 1,024 1 — Ohio773 1,163 — — California760 1,148 —