Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 83

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7A
Chunk 83
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 borrowers experiencing financial difficulty, as further discussed in the following sections. These modifications for the years ended December 31, 2024 and 2023 represented 0.46% and 0.52%, respectively, of total portfolio loans and leases as of December 31, 2024 and 2023. These amounts excluded $52 million and $29 million for the years ended December 31, 2024 and 2023, respectively, of consumer and residential mortgage loans which have been granted a concession under provisions of the Federal Bankruptcy Act and are monitored separately from loans modified under the Bancorp’s loan modification programs. As of December 31, 2024 and 2023, the Bancorp had commitments of $88 million and $130 million, respectively, to lend additional funds to borrowers experiencing financial difficulty whose terms have been modified during the years ended December 31, 2024 and 2023, respectively.Commercial portfolio segment Commercial loan modifications are individually negotiated and may vary depending on the borrower’s financial situation, but the Bancorp most commonly utilizes term extensions for periods of three to twelve months. In less common situations and when specifically warranted by the borrower’s situation, the Bancorp may also consider offering commercial borrowers interest rate reductions or payment delays, which may be combined with a term extension. 

140 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the Bancorp’s commercial portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification, during the years ended:December 31, 2024 ($ in millions)Term ExtensionTerm Extension and Payment DelayPayment DelayOtherTotal% of Total ClassCommercial and industrial loans$155 19 57 1 232 0.44 %Commercial mortgage owner-occupied loans46 14 1 — 61 1.01 Commercial mortgage nonowner-occupied loans72 — — — 72 1.16 Commercial construction loans58 — — 1 59 1.06 Total commercial portfolio loans$331 33 58 2 424 0.60 %December 31, 2023 ($ in millions)Term ExtensionTerm Extension and Payment DelayPayment DelayOtherTotal% of Total ClassCommercial and industrial loans$155 31 56 3 245 0.46