Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 279

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 279
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 respectively, which are excluded from the completed modification activity in the tables above. These in-process modifications will be reported as completed modifications once the borrower satisfies the applicable contingencies in the modification agreement and the loan is contractually modified to make the modified terms permanent.Consumer portfolio segmentThe Bancorp’s modification programs for consumer loans vary based on type of loan. The most common modification program for home equity is a term extension for up to 360 months combined with a delay in repayment of delinquent amounts due until maturity, which is typically combined with an interest rate reduction. Modification programs for credit card typically involve an interest rate reduction and an increase to the minimum monthly payment in order to repay a larger portion of outstanding balances. Modifications for indirect secured consumer loans, solar energy installation loans and other consumer loans are less commonly utilized as part of the Bancorp’s loss mitigation activities and programs vary by specific product type. 

141 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the Bancorp’s consumer portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification, during the years ended:December 31, 2024 ($ in millions)Interest Rate ReductionPayment DelayInterest Rate Reduction and Payment DelayTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal% of Total ClassHome equity$4 — — 2 9 15 0.36 %Credit card20 — — — — 20 1.15 Solar energy installation loans— 1 — — — 1 0.02 Other consumer loans— 3 — — — 3 0.12 Total consumer portfolio loans$24 4 — 2 9 39 0.13 %December 31, 2023 ($ in millions)Interest Rate ReductionPayment DelayInterest Rate Reduction and Payment DelayTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal% of Total ClassHome equity$4 1 1 2 8 16 0.41 %Credit card27 — — — — 27 1.45 Solar energy installation loans— 1 — — — 1 0.03 Other consumer loans— 5 — — — 5 0.