Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 257

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 257
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779)Agency commercial mortgage-backed securities157 (6)20,536 (3,016)20,693 (3,022)Non-agency commercial mortgage-backed securities183 (3)3,984 (335)4,167 (338)Asset-backed securities and other debt securities283 (11)3,157 (187)3,440 (198)Total$2,253 (34)32,243 (4,303)34,496 (4,337)2023U.S. Treasury and federal agencies securities$1,989 (3)2,157 (139)4,146 (142)Agency residential mortgage-backed securities81 (2)10,200 (1,280)10,281 (1,282)Agency commercial mortgage-backed securities5,439 (556)19,957 (2,674)25,396 (3,230)Non-agency commercial mortgage-backed securities141 (2)4,284 (425)4,425 (427)Asset-backed securities and other debt securities340 (17)4,184 (281)4,524 (298)Total$7,990 (580)40,782 (4,799)48,772 (5,379)At December 31, 2024 and 2023, $34 million and $45 million, respectively, of unrealized losses in the available-for-sale debt and other securities portfolio were related to non-rated securities.

129 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

5. Loans and Leases

The Bancorp diversifies its loan and lease portfolio by offering a variety of loan and lease products with various payment terms and rate structures. The Bancorp’s commercial loan and lease portfolio consists of lending to various industry types. Management periodically reviews the performance of its loan and lease products to evaluate whether they are performing within acceptable interest rate and credit risk levels and changes are made to underwriting policies and procedures as needed. The Bancorp maintains an allowance to absorb loan and lease losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. For further information on credit quality and the ALLL, refer to Note 6.The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of December 31:($ in millions)