Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 199

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 199
---
 loans and leases, including held for sale$67,999 66,085 68,393 66,785 Demand deposits16,661 16,679 16,285 17,003 Interest checking deposits39,619 40,826 39,623 39,877 Savings deposits118 138 125 145 Money market deposits4,450 4,636 4,517 4,538 Certificates of deposit32 39 32 51 

(a)Includes FTE adjustments of $3 and $4 for the three months ended September 30, 2025 and 2024, respectively, and $9 and $11 for the nine months ended September 30, 2025 and 2024, respectively.

Income before income taxes on an FTE basis was $251 million and $896 million for the three and nine months ended September 30, 2025, respectively, compared to $466 million and $1.3 billion for the same periods in the prior year. The decrease for the three months ended September 30, 2025 was primarily driven by an increase in provision for credit losses and a decrease in net interest income on an FTE basis. The decrease for the nine months ended September 30, 2025 was primarily driven by a decrease in net interest income on an FTE basis, an increase in provision for credit losses, an increase in noninterest expense and a decrease in noninterest income.

Net interest income on an FTE basis decreased $54 million and $204 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily driven by decreases in FTP credits on deposits and decreases in yields on average commercial loans and leases. These negative impacts were partially offset by decreases in FTP charges on commercial loans and leases, decreases in rates paid on average interest-bearing deposits and increases in the average balances of commercial loans and leases.

Provision for credit losses increased $170 million and $121 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily driven by increases in net charge-offs on commercial loans and leases, which included $178 million related to the impairment of an asset-backed finance commercial loan, partially offset by decreases in the allocated provision for credit losses related to commercial criticized assets. Annualized net charge-offs as a percent of average portfolio loans and leases increased to 156 bps and