Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 67

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 67
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1,052 2,352 (a)The Bancorp recorded $28 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.2023 ($ in millions)CommercialResidential MortgageConsumerTotal    Balance, beginning of period$1,127 245 822 2,194 Impact of adoption of ASU 2022-024 (36)(17)(49)Losses charged-off(a)(170)(4)(348)(522)Recoveries of losses previously charged-off(a)17 4 113 134 Provision for (benefit from) loan and lease losses152 (64)477 565 Balance, end of period$1,130 145 1,047 2,322 (a)The Bancorp recorded $35 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.2022 ($ in millions)CommercialResidential MortgageConsumerTotal    Balance, beginning of period$1,102 235 555 1,892 Losses charged-off(a)(131)(3)(228)(362)Recoveries of losses previously charged-off(a)30 5 100 135 Provision for loan and lease losses126 8 395 529 Balance, end of period$1,127 245 822 2,194 (a)The Bancorp recorded $32 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.The following tables provide a summary of the ALLL and related loans and leases classified by portfolio segment:As of December 31, 2024 ($ in millions)CommercialResidential Mortgage ConsumerTotal    ALLL:(a)Individually evaluated$106 — 11 117 Collectively evaluated1,048 146 1,041 2,235 Total ALLL$1,154 146 1,052 2,352 Portfolio loans and leases:(b)Individually evaluated$395 131 96 622 Collectively evaluated72,898 17,304 28,859 119,061 Total portfolio loans and leases$73,293 17,435 28