Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 504

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 504
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 Components of Investment SecuritiesAs of December 31 ($ in millions)20242023Available-for-sale debt and other securities (amortized cost basis):U.S. Treasury and federal agencies securities$4,358 4,477 Obligations of states and political subdivisions securities— 2 Mortgage-backed securities:Agency residential mortgage-backed securities6,460 11,564 Agency commercial mortgage-backed securities23,853 28,945 Non-agency commercial mortgage-backed securities4,505 4,872 Asset-backed securities and other debt securities3,924 5,207 Other securities(a)778 722 Total available-for-sale debt and other securities$43,878 55,789 Held-to-maturity securities (amortized cost basis):(b)U.S. Treasury and federal agencies securities$2,370 — Mortgage-backed securities:Agency residential mortgage-backed securities4,898 — Agency commercial mortgage-backed securities4,008 — Asset-backed securities and other debt securities2 2 Total held-to-maturity securities$11,278 2 Trading debt securities (fair value):U.S. Treasury and federal agencies securities$626 647 Obligations of states and political subdivisions securities120 39 Agency residential mortgage-backed securities10 6 Asset-backed securities and other debt securities429 207 Total trading debt securities$1,185 899 Total equity securities (fair value)$341 613 

(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings that are carried at cost.

(b)Includes a discount of $865 at December 31, 2024 pertaining to the remaining unamortized portion of unrealized losses on securities transferred to HTM.

In January 2024, the Bancorp transferred $12.6 billion (amortized cost basis) of securities from available-for-sale to held-to-maturity to reflect the Bancorp’s change in intent to hold these securities to maturity in order to reduce potential capital volatility associated with investment security market price fluctuations. The transfer included U.S. Treasury and federal agencies securities, agency residential mortgage-backed securities and agency commercial mortgage-backed securities. On the date of the transfer, pre-tax unrealized losses of $994 million were included in AOCI related to these transferred securities. The unrealized losses that existed on the date of transfer will continue to be reported as a component of AOCI and will be amortized into