Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 48

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 7
Chunk 48
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 The increase for the three months ended September 30, 2025 compared to the same period in the prior year also included an increase of $502 million in average CDs primarily due to higher offering rates. Average money market deposits increased $409 million and $972 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily as a result of higher average balances per customer account due to higher offering rates. Average demand deposits increased $881 million and $739 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily as a result of an increase in the number of customer accounts and average balances per customer account. Average savings deposits decreased $380 million and $659 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily due to a decrease in the number of customer accounts and lower average balances per customer account partially driven by the impact of consumer preferences for products with higher offering rates.

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

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.

The following table contains selected financial data for the Wealth and Asset Management segment:

TABLE 27:  Wealth and Asset ManagementFor the three months endedSeptember 30,For the nine months endedSeptember 30,($ in millions)2025202420252024Income Statement DataNet interest income$55 50 161 162 (Benefit from) provision for credit losses— — (2)— Noninterest income:Wealth and asset management revenue107 98 312 296 Other noninterest income2 1 8 6 Noninterest expense:Compensation and benefits53 54 170 168 Other noninterest expense40 41 126 124 Income before income taxes$71 54 187 172 Average Balance Sheet DataLoans and leases, including held for sale$4,603 4,128 4,497