Company: FITBI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000035527-25-000171
Chunk: 189

Company: FIFTH THIRD BANCORP
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 189
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 for sale$68,777 66,790 68,592 67,140 Demand deposits16,257 16,679 16,094 17,166 Interest checking deposits39,317 39,195 39,626 39,397 Savings deposits128 145 129 149 Money market deposits4,436 4,495 4,550 4,487 Certificates of deposit32 46 32 58 

(a)Includes FTE adjustments of $3 and $4 for the three months ended June 30, 2025 and 2024, respectively, and $6 and $8 for the six months ended June 30, 2025 and 2024, respectively.

Income before income taxes on an FTE basis was $384 million and $646 million for the three and six months ended June 30, 2025, respectively, compared to $372 million and $796 million for the same periods in the prior year. The increase for the three months ended June 30, 2025 was primarily driven by a decrease in provision for credit losses, partially offset by a decrease in net interest income on an FTE basis and an increase in noninterest expense. The decrease for the six months ended June 30, 2025 was driven by a decrease in net interest income on an FTE basis, an increase in noninterest expense and a decrease in noninterest income, partially offset by a decrease in provision for credit losses. 

Net interest income on an FTE basis decreased $39 million and $151 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily driven by decreases in yields on average commercial loans and leases and decreases in FTP credits on deposits. These negative impacts were partially offset by decreases in FTP charges on commercial loans and leases, decreases in rates paid on average interest-bearing deposits and increases in the average balances of commercial loans and leases.

Provision for credit losses decreased $58 million and $49 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in the prior year primarily driven by decreases in the allocated provision for credit losses related to commercial criticized assets and the impact of net charge-offs on commercial loans and leases which decreased for the three months ended June 30, 2025 and increased for the six months ended June 30, 2025. Annualized net charge-offs as a