Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 532

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 532
---
 of period$456 137 230 823 

TABLE 50:  Rollforward of Portfolio Nonaccrual Loans and LeasesFor the year ended December 31, 2023 ($ in millions)CommercialResidential MortgageConsumerTotalBalance, beginning of period$263 124 128 515 Transfers to nonaccrual status452 68 401 921 Transfers to accrual status(59)(29)(85)(173)Transfers to held for sale(10)— — (10)Loan paydowns/payoffs(158)(34)(65)(257)Transfers to OREO— (9)(12)(21)Charge-offs(170)— (169)(339)Draws/other extensions of credit8 4 1 13 Balance, end of period$326 124 199 649 

Analysis of Net Loan Charge-offs 

Net charge-offs were 45 bps and 32 bps of average portfolio loans and leases for the years ended December 31, 2024 and 2023, respectively. Table 51 provides a summary of credit loss experience and net charge-offs as a percent of average portfolio loans and leases outstanding by loan category. 

The ratio of commercial loan and lease net charge-offs as a percent of average portfolio commercial loans and leases increased to 34 bps during the year ended December 31, 2024, compared to 20 bps during 2023, primarily due to an increase in net charge-offs on commercial and industrial loans of $87 million.

The ratio of consumer loan net charge-offs as a percent of average portfolio consumer loans increased to 64 bps during the year ended December 31, 2024, compared to 52 bps during 2023, primarily due to increases in net charge-offs on solar energy installation loans and indirect secured consumer loans of $30 million and $18 million, respectively.

88 Fifth Third Bancorp 

Table of Contents MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

TABLE 51:  Summary of Credit Loss ExperienceFor the years ended December 31 ($ in millions)202420232022Losses charged-off:Commercial and industrial loans$(264)(168)(121)Commercial mortgage loans(1)(1)— Commercial construction loans— (1)(3)Commercial leases(2)— (7)Residential mortgage loans(2)(4)(3)Home equity(6)(