Company: FITBI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000035527-25-000212
Chunk: 49

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 7
Chunk 49
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 4,113 Deposits9,553 10,513 10,134 10,585 

Income before income taxes was $71 million and $187 million for the three and nine months ended September 30, 2025, respectively, compared to $54 million and $172 million for the same periods in the prior year. The increase for the three months ended September 30, 2025 was primarily driven by increases in noninterest income and net interest income. The increase for the nine months ended September 30, 2025 was primarily driven by an increase in noninterest income, partially offset by an increase in noninterest expense.

Net interest income increased $5 million for the three months ended September 30, 2025 compared to the same period in the prior year primarily driven by a decrease in rates paid on and average balances of deposits, partially offset by a decrease in FTP credits on deposits.

Noninterest income increased $10 million and $18 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in the prior year primarily due to increases in wealth and asset management revenue, which increased $9 million and $16 million for the three and nine months ended September 30, 2025, respectively, primarily driven by increases in personal asset management revenue. 

Noninterest expense increased $4 million for the nine months ended September 30, 2025 compared to the same period in the prior year primarily driven by increases in compensation and benefits expense and other noninterest expense. Compensation and benefits expense increased $2 million compared to the same period in the prior year primarily driven by an increase in base compensation. Other noninterest expense increased $2 million compared to the same period in the prior year primarily driven by an increase in allocated expenses.

Average loans and leases increased $475 million and $384 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 average commercial and industrial loans, average other consumer loans and average commercial mortgage loans as loan production exceeded payoffs.

Average deposits decreased $960 million and $451 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 average interest checking deposits, average savings deposits and average money market deposits as a result of lower average balances per customer account, partially offset by an increase in average CDs.

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