Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 170

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 170
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 for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by an increase of $7 million in wealth and asset management revenue primarily due to increases in brokerage income and personal asset management revenue. 

Average consumer loans increased $2.1 billion 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 and average solar energy installation loans, partially offset by a decrease in average other consumer loans. Refer to the Loans and Leases subsection of the Balance Sheet Analysis section of MD&A for additional information on the fluctuations in average indirect secured consumer loans, average residential mortgage loans, average solar energy installation loans and average other consumer loans. Average commercial loans increased 

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

$858 million for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by loan originations exceeding payoffs.

Average deposits increased $1.1 billion for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by increases in average money market deposits and average demand deposits, partially offset by a decrease in average savings deposits. Average money market deposits increased $1.7 billion for the three months ended March 31, 2025 compared to the same period in the prior year primarily as a result of higher average balances per customer account due to higher offering rates. Average demand deposits increased $698 million for the three months ended March 31, 2025 compared to the same period in the prior year primarily as a result of an increase in the number of customer accounts as well as higher average balances per customer account. Average savings deposits decreased $980 million for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to lower average balances per customer account driven by the impact of consumer preferences for products with higher offering rates. 

Wealth and Asset Management

Wealth and Asset Management provides a full range of wealth management solutions for individuals, companies and not-for-profit organizations, including wealth planning, investment management, banking, insurance, trust and estate services. These offerings include retail brokerage services for individual clients, advisory services for institutional clients including middle market businesses, non-profits, states and municipalities, and wealth management strategies and products for high net worth and ultra-high net worth clients.