Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 29

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 7
Chunk 29
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1, 2025, foreign office deposits are included in interest checking. Prior periods have been adjusted to conform to current period presentation.

22

Table of ContentsManagement’s Discussion and Analysis of Financial Condition and Results of Operations (continued)

On an average basis, core deposits decreased $790 million for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to a decrease in average transaction deposits. Average transaction deposits decreased $926 million, or 1%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily driven by decreases in average demand deposits, average savings deposits and average interest checking deposits, partially offset by an increase in average money market deposits. Average demand deposits decreased $1.1 billion, or 3%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily as a result of lower average balances per commercial customer account, partially offset by consumer balance growth. Average savings deposits decreased $881 million, or 5%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to lower average balances per consumer customer account driven by the impact of consumer preferences for products with higher offering rates. Average interest checking deposits decreased $858 million, or 1%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to a decrease in derivative collateral held as a result of lower interest rates and a decrease in consumer balances, partially offset by higher average balances per commercial customer account. Average money market deposits increased $1.9 billion, or 5%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily as a result of higher average balances per consumer customer account due to higher offering rates. 

Average CDs over $250,000 decreased $3.2 billion, or 58%, for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to maturities of retail brokered CDs.

Contractual maturities

The contractual maturities of CDs as of March 31, 2025 are summarized in the following table:

TABLE 20:  Contractual Maturities of CDs(a)($ in millions)Next 12 months$11,425 13-24 months671 25-36 months17 37-48 months9 49