Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 64

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 7
Chunk 64
---
100% at origination. Net charge-offs on indirect secured consumer loans with an LTV greater than 100% at origination were $8 million and $10 million for the three months ended September 30, 2025 and 2024, respectively, and $22 million and $30 million for the nine months ended September 30, 2025 and 2024, respectively.

Credit card portfolio

The credit card portfolio consists of predominantly prime accounts with 98% of balances existing within the Bancorp’s footprint at both September 30, 2025 and December 31, 2024. At both September 30, 2025 and December 31, 2024, 72% of the outstanding balances were originated through branch-based relationships with the remainder coming from direct mail campaigns and online acquisitions.

Given the variable nature of the credit card portfolio, interest rate increases impact this product and it is regularly monitored to ensure the portfolio remains within the Bancorp’s risk appetite. Recent and expected future decreases in interest rates may lessen these risks moving forward.

The following table provides an analysis of the Bancorp’s outstanding credit card portfolio disaggregated based upon FICO score at origination as of:

TABLE 42:  Credit Card Portfolio Loans Outstanding by FICO Score at OriginationSeptember 30, 2025December 31, 2024($ in millions)Outstanding% of TotalOutstanding% of TotalFICO ≤ 659$81 5  %$78 5  %FICO 660-719462 27 470 27 FICO ≥ 7201,149 68 1,186 68 Total$1,692 100  %$1,734 100  %

Solar energy installation loans portfolio

The Bancorp originates point-of-sale solar energy installation loans through a network of approved installers. The Bancorp considers several factors when monitoring its solar energy installation loan portfolio, including concentrations by installer, concentrations by state and FICO distributions at origination. At both September 30, 2025 and December 31, 2024, loans originated through the Bancorp’s three largest approved installers represented approximately 23% of total balances outstanding in the solar energy installation loan portfolio. As consumer clean energy tax incentives are set to expire after December 31, 2025, it is expected that production in this portfolio will decrease in 2026.

41

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