Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 59

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 59
---
 Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

4. Investment Securities

The Bancorp uses investment securities as a means of managing interest rate risk, providing collateral for pledging purposes and for liquidity risk management. The Bancorp may also utilize investment securities as part of a non-qualifying hedging strategy to manage interest rate risk related to MSRs.The following tables provide the amortized cost, unrealized gains and losses and fair value for the major categories of the available-for-sale debt and other securities and held-to-maturity securities portfolios as of December 31:2024($ in millions)Amortized CostUnrealized GainsUnrealized LossesFairValueAvailable-for-sale debt and other securities:U.S. Treasury and federal agencies securities$4,358 2 — 4,360 Obligations of states and political subdivisions securities— — — — Mortgage-backed securities:Agency residential mortgage-backed securities6,460 — (779)5,681 Agency commercial mortgage-backed securities23,853 1 (3,022)20,832 Non-agency commercial mortgage-backed securities4,505 — (338)4,167 Asset-backed securities and other debt securities3,924 3 (198)3,729 Other securities(a)778 — — 778 Total available-for-sale debt and other securities$43,878 6 (4,337)39,547 Held-to-maturity securities:(b)U.S. Treasury and federal agencies securities$2,370 — (26)2,344 Mortgage-backed securities:Agency residential mortgage-backed securities4,898 — (197)4,701 Agency commercial mortgage-backed securities4,008 — (90)3,918 Asset-backed securities and other debt securities2 — — 2 Total held-to-maturity securities$11,278 — (313)10,965 (a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $276, $500 and $2, respectively, at December 31, 2024, that are carried at cost.(b)The amortized cost basis includes a discount of $865 at December 31, 2024 pertaining to the remaining unamortized portion of unrealized losses on securities transferred to HTM.202