Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 493

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 493
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013 3,109 

(a)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.

64 Fifth Third Bancorp 

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

Commercial Banking

Commercial Banking offers credit intermediation, cash management and financial services to large and middle-market businesses and government and professional customers. In addition to the traditional lending and depository offerings, Commercial Banking products and services include global cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing and syndicated finance.

The following table contains selected financial data for the Commercial Banking segment:

TABLE 16: Commercial BankingFor the years ended December 31 ($ in millions)202420232022Income Statement DataNet interest income (FTE)(a)$2,647 3,828 2,552 Provision for credit losses304 12 33 Noninterest income:        Commercial payments revenue529 473 468 Capital markets fees421 419 387 Commercial banking revenue373 406 417 Other noninterest income57 58 68 Noninterest expense:Compensation and benefits656 654 639 Net occupancy and equipment expense64 70 67 Other noninterest expense1,174 1,279 1,117 Income before income taxes (FTE)$1,829 3,169 2,036 Average Balance Sheet DataCommercial loans and leases, including held for sale$67,310 72,293 70,904 Demand deposits18,204 23,170 35,147 Interest checking deposits40,214 32,319 21,341 Savings deposits143 183 280 Money market deposits5,540 5,063 5,739 Certificates of deposit45 62 108 Foreign office deposits158 158 170 

(a)Includes FTE adjustments of $15, $16 and $10 for the years ended December 31, 2024, 2023 and 2022, respectively.

Income before income taxes on an FTE basis was $1.8 billion for the year ended December 31, 2024 compared to $3.2 billion for the year ended December 31, 2023. The decrease was primarily driven by a decrease in net interest income on an FTE basis and an increase in provision for credit losses