Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 170

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 170
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 are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment.  

191 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following tables provide the fair value hierarchy and carrying amount of all assets that were held as of December 31, 2024 and 2023, and for which a nonrecurring fair value adjustment was recorded during the years ended December 31, 2024 and 2023, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period. Fair Value Measurements UsingTotal (Losses) GainsAs of December 31, 2024 ($ in millions)Level 1  Level 2Level 3    Total For the year ended December 31, 2024Commercial loans held for sale$— — 6 6 (1)Commercial loans and leases— — 168 168 (245)Consumer and residential mortgage loans— — 215 215 (17)OREO— — 2 2 (2)Bank premises and equipment— — 7 7 (1)Private equity investments— 3 — 3 11 Total$— 3 398 401 (255)Fair Value Measurements UsingTotal LossesAs of December 31, 2023 ($ in millions)Level 1Level 2Level 3TotalFor the year ended December 31, 2023Commercial loans held for sale$— — 1 1 — Commercial loans and leases— — 163 163 (162)Consumer and residential mortgage loans— — 189 189 (12)OREO— — 18 18 (8)Bank premises and equipment— — 15 15 (2)Operating lease equipment— — 2 2 — Private equity investments— — — — (2)Total$— — 388 388 (186)The following tables present information as of December 31, 2024 and 2023 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured on a nonrecurring basis:As of December 31, 2024 ($ in millions)Financial InstrumentFair ValueValuation