Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 206

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 206
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 to the same period in the prior year primarily driven by a decrease in rates paid on and average balances of deposits, partially offset by a decrease in FTP credits on deposits.

Noninterest income increased $10 million and $18 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily due to increases in wealth and asset management revenue, which increased $9 million and $16 million for the three and nine months ended September 30, 2025, respectively, primarily driven by increases in personal asset management revenue. 

Noninterest expense increased $4 million for the nine months ended September 30, 2025 compared to the same period in the prior year primarily driven by increases in compensation and benefits expense and other noninterest expense. Compensation and benefits expense increased $2 million compared to the same period in the prior year primarily driven by an increase in base compensation. Other noninterest expense increased $2 million compared to the same period in the prior year primarily driven by an increase in allocated expenses.

Average loans and leases increased $475 million and $384 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily driven by increases in average commercial and industrial loans, average other consumer loans and average commercial mortgage loans as loan production exceeded payoffs.

Average deposits decreased $960 million and $451 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily driven by decreases in average interest checking deposits, average savings deposits and average money market deposits as a result of lower average balances per customer account, partially offset by an increase in average CDs.

31

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

General Corporate and Other

General Corporate and Other includes the unallocated portion of the investment securities portfolio, securities gains and losses, certain non-core deposit funding, unassigned equity, unallocated provision for credit losses or a benefit from the reduction of the ACL, the payment of preferred stock dividends and certain support activities and other items not attributed to its segments.

Net interest income on an FTE basis increased $121 million and $609 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily driven by decreases in FTP credits on deposits allocated to the segments, decreases in interest expense on retail brokered CDs and long-term debt