Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 184

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 184
---
,063 1,068 144 (1,343)932 Total noninterest expense$1,823 2,389 379 128 4,719 Income (loss) before income taxes (FTE)$2,036 1,656 251 (834)3,109 Average assets$82,239 49,823 4,763 70,104 206,929 (a)Includes FTE adjustments of $10 for Commercial Banking and $6 for General Corporate and Other.(b)Includes impairment charges of $6 recorded in Consumer and Small Business Banking and $3 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7.(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8.(d)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9.(e)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.(f)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.

32. Subsequent Events

On January 22, 2025, the Bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the Bancorp paid $225 million on January 23, 2025 to repurchase shares of its outstanding common stock. The Bancorp is repurchasing the shares of its common stock as part of its Board-approved 100 million share repurchase program previously announced on June 18, 2019. The Bancorp expects the settlement of the transaction to occur on or before March 28, 2025.  On January 28, 2025, the Bank issued and sold, under its bank notes program, $700 million of fixed-rate/floating-rate senior notes due on January 28, 2028. The senior notes will bear interest at a rate of 4.967% per annum to, but excluding, January 28, 2027. From, and including January 28, 2027 until maturity, the senior notes will bear interest at a rate of compounded SOFR plus 0.81%. The senior notes are redeemable at the Bank’s option, in whole, but not in part, one year prior to their maturity date, or in whole or in part beginning 30 days prior to maturity,