Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 259

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 259
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MENTS

The following table presents a summary of the total loans and leases owned by the Bancorp and net charge-offs (recoveries) as of and for the years ended December 31:Carrying Value90 Days Past Due and Still Accruing(a)Net Charge-Offs (Recoveries)($ in millions)202420232024202320242023Commercial and industrial loans$52,286 53,311 5 8 242 155 Commercial mortgage loans12,268 11,276 — — — (2)Commercial construction loans5,617 5,621 — — — 1 Commercial leases3,188 2,582 1 — 2 (1)Residential mortgage loans18,117 17,360 6 7 (2)— Home equity4,188 3,916 — — (1)1 Indirect secured consumer loans16,313 14,965 — — 90 72 Credit card1,734 1,865 20 21 68 64 Solar energy installation loans4,202 3,728 — — 56 26 Other consumer loans2,518 2,988 — — 77 72 Total loans and leases$120,431 117,612 32 36 532 388 Less: Loans and leases held for sale640 378 Total portfolio loans and leases$119,791 117,234 (a)Excludes government guaranteed residential mortgage loans. The following table presents the components of the net investment in portfolio leases as of December 31:($ in millions)(a)20242023Net investment in direct financing leases:Lease payment receivable (present value)$631 556 Unguaranteed residual assets (present value)121 105 Net investment in sales-type leases:Lease payment receivable (present value)2,102 1,585 Unguaranteed residual assets (present value)86 84 (a)Excludes $248 and $249 of leveraged leases at December 31, 2024 and 2023, respectively.Interest income recognized in the Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022 was $40 million, $26 million and $29 million, respectively, for direct financing leases and $82 million, $