Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 258

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 258
---
20242023Loans and leases held for sale:Commercial and industrial loans$15 41 Commercial mortgage loans22 — Commercial construction loans29 — Commercial leases— 3 Residential mortgage loans574 334 Total loans and leases held for sale$640 378 Portfolio loans and leases:Commercial and industrial loans$52,271 53,270 Commercial mortgage loans12,246 11,276 Commercial construction loans5,588 5,621 Commercial leases3,188 2,579 Total commercial loans and leases$73,293 72,746 Residential mortgage loans$17,543 17,026 Home equity4,188 3,916 Indirect secured consumer loans16,313 14,965 Credit card1,734 1,865 Solar energy installation loans4,202 3,728 Other consumer loans2,518 2,988 Total consumer loans$46,498 44,488 Total portfolio loans and leases$119,791 117,234 Portfolio loans and leases are recorded net of unearned income, which totaled $380 million and $272 million as of December 31, 2024 and 2023, respectively. The amortized cost basis of loans and leases excludes accrued interest receivable of $566 million and $593 million at December 31, 2024 and 2023, respectively, which is presented as a component of other assets in the Consolidated Balance Sheets. Additionally, portfolio loans and leases are recorded net of unamortized premiums and discounts, deferred direct loan origination fees and costs associated with loans and valuation adjustments associated with loans measured at fair value. These items totaled a net discount of $324 million and $395 million as of December 31, 2024 and 2023, respectively, of which $901 million and $865 million of net discount was related to solar energy installation loans, respectively.The Bancorp’s FHLB and FRB borrowings are primarily secured by loans. The Bancorp had loans of $15.1 billion and $14.5 billion as of December 31, 2024 and 2023, respectively, pledged to the FHLB, and loans of $55.3 billion and $49.3 billion at December 31, 2024 and 2023, respectively, pledged to the FRB.

130 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATE