Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 95

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 95
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-offs:For the three months endedMarch 31,($ in millions)20252024Commercial and industrial loans$52 35 Commercial mortgage loans10 — Commercial leases2 — Indirect secured consumer loans21 24 Credit card17 18 Solar energy installation loans18 12 Other consumer loans16 21 Total net charge-offs$136 110 The following table presents the income recognized related to leases where the Bancorp is the lessor:For the three months endedMarch 31,($ in millions)Condensed Consolidated Statements of Income Caption20252024Direct financing leasesInterest and fees on loans and leases$10 9 Sales-type leasesInterest and fees on loans and leases26 18 Operating leasesCommercial banking revenue20 28 

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Table of ContentsFifth Third Bancorp and SubsidiariesNotes to Condensed Consolidated Financial Statements (unaudited)

6.  Credit Quality and the Allowance for Loan and Lease Losses

The Bancorp disaggregates ALLL balances and transactions in the ALLL by portfolio segment. Credit quality related disclosures for loans and leases are further disaggregated by class. Refer to Note 1 and Note 6 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024 for additional information on the Bancorp’s accounting policies and estimation practices for the ALLL.Allowance for Loan and Lease LossesThe following tables summarize transactions in the ALLL by portfolio segment:For the three months ended March 31, 2025 ($ in millions)CommercialResidentialMortgageConsumerTotalBalance, beginning of period$1,154 146 1,052 2,352 Losses charged-off(a)(67)— (106)(173)Recoveries of losses previously charged-off(a)3 — 34 37 Provision for (benefit from) loan and lease losses151 (7)24 168 Balance, end of period$1,241 139 1,004 2,384 (a)The Bancorp recorded $6 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.For the three months ended March 31, 2024 ($ in millions)CommercialResidentialMortgageConsumerTotalBalance, beginning of period$1,130