Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 282

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 282
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1 3 Credit card— 9 — — — — 9 Total portfolio loans$14 10 16 1 38 7 86 December 31, 2023 ($ in millions)(a)Term ExtensionInterest Rate ReductionPayment DelayTerm Extension and Interest Rate ReductionTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotalCommercial loans:Commercial and industrial loans$51 — — — — — 51 Commercial mortgage owner-occupied loans1 — — — — — 1 Residential mortgage loans— — 2 — 11 1 14 Consumer loans:Home equity— 1 — — — — 1 Credit card— 10 — — — — 10 Total portfolio loans$52 11 2 — 11 1 77 (a)Excludes loans modified prior to the adoption of ASU 2022-02.

144 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

7. Bank Premises and Equipment

The following table provides a summary of bank premises and equipment as of December 31:($ in millions)Estimated Useful Life20242023Equipment1-20 years$2,769 2,578 Buildings(a)1-30 years1,784 1,742 Leasehold improvements1-30 years760 685 Land and improvements(a)623 618 Construction in progress(a)199 180 Bank premises and equipment held for sale:(b)Land and improvements10 15 Buildings4 4 Accumulated depreciation and amortization(3,674)(3,473)Total bank premises and equipment$2,475 2,349 (a)At December 31, 2024 and 2023, land and improvements, buildings and construction in progress included $1 and $9, respectively, associated with parcels of undeveloped land intended for future branch expansion.(b)Included within the assets of General Corporate & Other in the Bancorp’s segment reporting.Depreciation and amortization expense related to bank premises and equipment, including amortization of finance lease ROU assets, was $306 million, $292 million and $273 million for the years ended December 31, 2024, 2023 and 2022, respectively.The Bancorp monitors changing customer preferences