Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 539

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 539
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 AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following table provides a rollforward of the Bancorp’s ACL:

TABLE 52:  Changes in Allowance for Credit LossesFor the years ended December 31 ($ in millions)202420232022ALLL:Balance, beginning of period$2,322 2,194 1,892 Losses charged-off(a)(686)(522)(362)Recoveries of losses previously charged-off(a)154 134 135 Provision for loan and lease losses562 565 529 Impact of adoption of ASU 2022-02— (49)— Balance, end of period$2,352 2,322 2,194 Reserve for unfunded commitments:Balance, beginning of period$166 216 182 (Benefit from) provision for the reserve for unfunded commitments(32)(50)34 Balance, end of period$134 166 216 

(a)For the years ended December 31, 2024, 2023 and 2022, the Bancorp recorded $28, $35 and $32, respectively, 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.

92 Fifth Third Bancorp 

Table of Contents MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following table provides an attribution of the Bancorp’s ALLL to portfolio loans and leases:

TABLE 53:  Attribution of Allowance for Loan and Lease Losses to Portfolio Loans and LeasesAs of December 31 ($ in millions)20242023Attributed ALLL:Commercial and industrial loans$728 767 Commercial mortgage loans351 284 Commercial construction loans59 66 Commercial leases16 13 Residential mortgage loans146 145 Home equity106 102 Indirect secured consumer loans311 271 Credit card165 227 Solar energy installation loans351 292 Other consumer loans119 155 Total ALLL$2,352 2,322 Portfolio loans and leases:Commercial and industrial loans$52,271 53,270 Commercial mortgage loans12,246 11,276 Commercial construction loans5,588 5,621 Commercial leases3,188 2,579 Residential mortgage loans(a)17,543 17,026