Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 44

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 7
Chunk 44
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 133 Marketing expense31 19 50 42 Loan and lease expense21 22 39 39 Other noninterest expense297 301 604 609 Income before income taxes$648 648 1,170 1,335 Average Balance Sheet DataConsumer loans, including held for sale$45,304 42,355 44,768 42,230 Commercial loans5,008 4,048 4,884 3,974 Demand deposits23,349 22,718 23,001 22,335 Interest checking deposits10,928 11,107 10,937 11,162 Savings deposits14,112 14,731 14,065 14,864 Money market deposits31,376 30,547 31,340 30,085 Certificates of deposit11,219 11,404 11,145 11,244 

Income before income taxes was $648 million and $1.2 billion for the three and six months ended June 30, 2025, respectively, compared to $648 million and $1.3 billion for the same periods in the prior year. Income before income taxes was flat for the three months ended June 30, 2025 compared to the same period in the prior year as increases in noninterest income and net interest income were offset by increases in provision for credit losses and noninterest expense. The decrease for the six months ended June 30, 2025 was driven by a decrease in net interest income and increases in provision for credit losses and noninterest expense, partially offset by an increase in noninterest income. 

Net interest income decreased $172 million for the six months ended June 30, 2025 compared to the same period in the prior year primarily driven by a decrease in FTP credits on deposits and an increase in FTP charges on loans and leases. These negative impacts were partially offset by increases in the average balances of and yields on loans and leases as well as a decrease in rates paid on average interest-bearing deposits.

Provision for credit losses increased $14 million for both the three and six months ended June 30, 2025 compared to the same periods in the prior year primarily driven by increases in net charge-offs on average commercial and industrial loans. Annualized net charge-offs as a percent of average portfolio loans and leases increased to 64 bps and 67 bps for the three and six months ended June 30, 2025