Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 43

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 7
Chunk 43
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 compared to the same periods in the prior year primarily due to decreases in average demand deposits, partially offset by increases in average interest checking deposits. Average demand deposits decreased $422 million and $1.1 billion for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily as a result of lower average balances per customer account. Average interest checking deposits increased $122 million and $229 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily driven by increases in balances associated with embedded payments products.

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

Consumer and Small Business Banking

Consumer and Small Business Banking provides a full range of deposit and loan products to individuals and small businesses through a network of full-service banking centers and relationships with indirect and correspondent loan originators in addition to providing products designed to meet the specific needs of small businesses, including cash management services. Consumer and Small Business Banking includes the Bancorp’s residential mortgage, home equity loans and lines of credit, credit cards, automobile and other indirect lending, solar energy installation and other consumer lending activities. Residential mortgage activities include the origination, retention and servicing of residential mortgage loans, sales and securitizations of those loans and all associated hedging activities. Indirect lending activities include extending loans to consumers through automobile dealers, motorcycle dealers, powersport dealers, recreational vehicle dealers and marine dealers. Solar energy installation loans and certain other consumer loans are originated through a network of contractors and installers. 

The following table contains selected financial data for the Consumer and Small Business Banking segment:

TABLE 26:  Consumer and Small Business BankingFor the three months endedJune 30,For the six months endedJune 30,($ in millions)2025202420252024Income Statement DataNet interest income$1,085 1,081 2,060 2,232 Provision for credit losses84 70 168 154 Noninterest income:Consumer banking revenue146 138 282 273 Wealth and asset management revenue66 62 132 121 Mortgage banking net revenue56 50 112 104 Commercial payments revenue22 22 41 43 Other noninterest income3 3 6 5 Noninterest expense:Compensation and benefits230 229 465 466 Net occupancy and equipment expense67 67 137