Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 210

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 210
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 loans outstanding by LTV at origination as of:

TABLE 41:  Indirect Secured Consumer Portfolio Loans Outstanding by LTV at OriginationJune 30, 2025December 31, 2024($ in millions)OutstandingWeighted- Average LTVOutstandingWeighted- Average LTVLTV ≤ 100%$12,690 80.0  %$11,822 79.8  %LTV > 100%4,901 110.1 4,491 110.1 Total$17,591 88.3  %$16,313 88.1  %

At June 30, 2025 and December 31, 2024, $28 million and $24 million, respectively, of the Bancorp’s nonaccrual indirect secured consumer portfolio loans had an LTV greater than 100% at origination. Net charge-offs on indirect secured consumer loans with an LTV greater than 100% at origination were $5 million and $9 million for the three months ended June 30, 2025 and 2024, respectively, and $14 million and $20 million for the six months ended  June 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 June 30, 2025 and December 31, 2024. At both June 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 rate cuts and potential 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 OriginationJune 30, 2025December 31, 2024($ in millions)Outstanding% of TotalOutstanding% of TotalFICO ≤ 659$79 5  %$78 5  %FICO 660-719465 27 470 27