Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 86

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 86
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17 Total consumer portfolio loans$31 7 1 2 8 49 0.18 %Financial effects of loan modificationsThe following table presents the financial effects of the Bancorp’s significant types of portfolio loan modifications to borrowers experiencing financial difficulty, by portfolio class for the years ended December 31:Financial Effects20242023Commercial loans:Commercial and industrial loansWeighted-average length of term extensions9 months11 monthsWeighted-average length of payment delay15 months23 monthsCommercial mortgage owner-occupied loansWeighted-average length of term extensions10 months15 monthsWeighted-average length of payment delay15 monthsN/ACommercial mortgage nonowner-occupied loansWeighted-average length of term extensions20 months16 monthsCommercial construction loansWeighted-average length of term extensions12 months12 monthsResidential mortgage loansWeighted-average length of term extensions10.4 years12.9 yearsApproximate amount of payment delays as a percentage of the related loan balances13%17%Consumer loans:Home equityWeighted-average length of term extensions22.8 years24.2 yearsWeighted-average interest rate reductionFrom 9.2% to 7.2% From 8.7% to 7.0%Approximate amount of payment delays as a percentage of the related loan balances5%5%Credit cardWeighted-average interest rate reductionFrom 23.9% to 4.1%From 23.7% to 3.9%

142 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Credit quality of modified loansThe Bancorp closely monitors the performance of loans that are modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, for the Bancorp’s portfolio loans that were modified during the years ended December 31, 2024 and 2023, respectively, for borrowers experiencing financial difficulty, by age and portfolio class:December 31, 2024 ($ in millions)Past DueCurrent30-89 Days90 Days or MoreTotalCommercial loans:Commercial and industrial loans$182 22 28 232 Commercial mortgage owner-occupied loans61 — — 61 Commercial mortgage nonowner-occupied loans72 — — 72 Commercial construction loans59 — — 59 Residential mortgage loans56 15 18 89 Consumer loans:Home equity13 1