Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 560

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 560
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1, 2022, and will be fully phased-out by January 1, 2025. The impact of the modified CECL transition amount on the Bancorp’s regulatory capital at December 31, 2024 was an increase in capital of approximately $124 million. On a fully phased-in basis, the Bancorp’s CET1 capital ratio would be reduced by 7 bps as of December 31, 2024.

The following table summarizes the Bancorp’s capital ratios as of December 31:

TABLE 63:  Capital Ratios($ in millions)202420232022Average total Bancorp shareholders’ equity as a percent of average assets9.12 %8.49 9.22 Tangible equity as a percent of tangible assets(a)(b)9.02 8.65 8.31 Tangible common equity as a percent of tangible assets(a)(b)8.03 7.67 7.30 Regulatory capital:(c)CET1 capital$17,339 16,800 15,670 Tier 1 capital19,455 18,916 17,786 Total regulatory capital22,746 22,400 21,606 Risk-weighted assets164,102 163,223 168,909 Regulatory capital ratios:(c)CET1 capital10.57 %10.29 9.28 Tier 1 risk-based capital11.86 11.59 10.53 Total risk-based capital13.86 13.72 12.79 Leverage9.22 8.73 8.56 

(a)These are non-GAAP measures. For further information, refer to the Non-GAAP Financial Measures section of MD&A.

(b)Excludes AOCI.

(c)Regulatory capital ratios as of December 31, 2024, 2023 and 2022 are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

Capital Planning 

The Bancorp maintains a comprehensive process for managing capital that considers the current and forward-looking macroeconomic and regulatory environments and makes capital distributions that are consistent with FRB requirements and the Bancorp’s stress capital buffer requirement. Under the Enhanced Prudential Standards tailoring rules, the Bancorp is subject to Category IV standards, under which the Bancorp is required to develop and maintain a capital plan approved by the Board of Directors on an annual basis.