Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 160

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 160
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Table of ContentsFifth Third Bancorp and SubsidiariesNotes to Condensed Consolidated Financial Statements (unaudited)

Wealth and Asset Management provides a full range of wealth management solutions for individuals, companies and not-for-profit organizations, including wealth planning, investment management, banking, insurance, trust and estate services. These offerings include retail brokerage services for individual clients, advisory services for institutional clients including middle market businesses, non-profits, states and municipalities, and wealth management strategies and products for high net worth and ultra-high net worth clients.The following tables present the results of operations and average assets by segment for the three months ended:March 31, 2025 ($ in millions)CommercialBankingConsumerand Small BusinessBankingWealthand AssetManagementGeneralCorporate and Other(c)TotalNet interest income (FTE)(a)$552 975 49 (134)1,442 Provision for credit losses80 84 — 10 174 Net interest income after provision for credit losses$472 891 49 (144)1,268 Noninterest income:Wealth and asset management revenue$— 66 106 — 172 Commercial payments revenue133 20 — — 153 Consumer banking revenue— 135 1 1 137 Capital markets fees90 — 1 (1)90 Commercial banking revenue79 1 — — 80 Mortgage banking net revenue— 57 — — 57 Other noninterest income6 2 1 5 14 Securities losses, net(7)— — (2)(9)Total noninterest income$301 281 109 3 694 Noninterest expense:Compensation and benefits$178 236 62 274 750 Technology and communications3 7 — 113 123 Net occupancy expense9 54 3 21 87 Equipment expense8 16 — 18 42 Loan and lease expense7 18 — 5 30 Marketing expense1 19 — 8 28 Card and processing expense3 17 1 — 21 Other noninterest expense(b)302 283 40 (402)223 Total noninterest expense$511 650 106 37 1,304 Income (loss) before income taxes (FTE)(a)$262 522 52 (178)658 Average assets