Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 194

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 194
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 average home equity and average other consumer loans. Average commercial loans increased $960 million and $910 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily driven by loan originations exceeding payoffs.

Average deposits increased $477 million and $798 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily driven by increases in average money market deposits and average demand deposits, partially offset by decreases in average savings deposits. Average money market deposits increased $829 million and $1.3 billion for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily as a result of higher average balances per customer account due to higher offering rates. Average demand deposits increased $631 million and $666 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily as a result of an increase in customer accounts and average balances per customer account. Average savings deposits decreased $619 million and $799 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily due to lower average balances per customer account partially driven by the impact of consumer preferences for products with higher offering rates.

Wealth and Asset Management

Wealth and Asset Management provides a full range of wealth management solutions for individuals, companies and not-for-profit organizations, including wealth planning, investment management, banking, insurance, trust and estate services. These offerings include retail brokerage services for individual clients, advisory services for institutional clients including middle market businesses, non-profits, states and municipalities, and wealth management strategies and products for high net worth and ultra-high net worth clients.

The following table contains selected financial data for the Wealth and Asset Management segment:

TABLE 27:  Wealth and Asset ManagementFor the three months endedJune 30,For the six months endedJune 30,($ in millions)2025202420252024Income Statement DataNet interest income$57 54 106 112 (Benefit from) provision for credit losses(2)— (2)— Noninterest income:Wealth and asset management revenue100 96 205 197 Other noninterest income1 2 6 3 Noninterest expense:Compensation and benefits55 52 117 114 Other noninterest expense40