Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 147

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 147
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a)Amounts in parentheses indicate reductions to net income.

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Table of ContentsFifth Third Bancorp and SubsidiariesNotes to Condensed Consolidated Financial Statements (unaudited)

18.  Fair Value Measurements

The Bancorp measures certain financial assets and liabilities at fair value in accordance with U.S. GAAP, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the instrument’s fair value measurement. For more information regarding the fair value hierarchy, refer to Note 1 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024.Assets and Liabilities Measured at Fair Value on a Recurring BasisThe following tables summarize assets and liabilities measured at fair value on a recurring basis as of:Fair Value Measurements UsingMarch 31, 2025 ($ in millions)Level 1Level 2Level 3Total Fair ValueAssets:Available-for-sale debt and other securities:U.S. Treasury and federal agencies securities$4,361 — — 4,361 Mortgage-backed securities:Agency residential mortgage-backed securities— 6,601 — 6,601 Agency commercial mortgage-backed securities— 21,056 — 21,056 Non-agency commercial mortgage-backed securities— 3,706 — 3,706 Asset-backed securities and other debt securities— 3,199 — 3,199 Available-for-sale debt and other securities(a)4,361 34,562 — 38,923 Trading debt securities:U.S. Treasury and federal agencies securities675 20 — 695 Obligations of states and political subdivisions securities— 70 — 70 Agency residential mortgage-backed securities— 26 — 26 Asset-backed securities and other debt securities— 368 — 368 Trading debt securities675 484 — 1