Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 195

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 195
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41 86 81 Income before income taxes$65 59 116 117 Average Balance Sheet DataLoans and leases, including held for sale$4,550 4,049 4,443 4,106 Deposits10,043 10,507 10,430 10,621 

Income before income taxes was $65 million and $116 million for the three and six months ended June 30, 2025, respectively, compared to $59 million and $117 million for the same periods in the prior year. The increase for the three months ended June 30, 2025 was primarily driven by increases in net interest income and noninterest income, partially offset by an increase in noninterest expense. The decrease for the six months ended June 30, 2025 was primarily driven by an increase in noninterest expense and a decrease in net interest income, partially offset by an increase in noninterest income.

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

Net interest income increased $3 million and decreased $6 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year. The increase for the three months ended June 30, 2025 was primarily driven by a decrease in rates paid on average deposits, partially offset by a decrease in FTP credits on deposits. The decrease for the six months ended June 30, 2025 was primarily driven by a decrease in FTP credits on deposits, partially offset by a decrease in rates paid on average deposits.

Noninterest income increased $3 million and $11 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily due to increases in wealth and asset management revenue, which increased $4 million and $8 million for the three and six months ended June 30, 2025, respectively, primarily driven by increases in personal asset management revenue. 

Noninterest expense increased $2 million and $8 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily due to increases in compensation and benefits expense, which increased $3 million for both the three and six months ended June 30, 2025 compared to the same periods in the prior year primarily driven by increases in base compensation. The increase for the six months ended June 30,