Company: FITBI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000035527-25-000137
Chunk: 36

Company: FIFTH THIRD BANCORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 7
Chunk 36
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Consumer and Small Business Banking

Consumer and Small Business Banking provides a full range of deposit and loan products to individuals and small businesses through a network of full-service banking centers and relationships with indirect and correspondent loan originators in addition to providing products designed to meet the specific needs of small businesses, including cash management services. Consumer and Small Business Banking includes the Bancorp’s residential mortgage, home equity loans and lines of credit, credit cards, automobile and other indirect lending, solar energy installation and other consumer lending activities. Residential mortgage activities include the origination, retention and servicing of residential mortgage loans, sales and securitizations of those loans and all associated hedging activities. Indirect lending activities include extending loans to consumers through automobile dealers, motorcycle dealers, powersport dealers, recreational vehicle dealers and marine dealers. Solar energy installation loans and certain other consumer loans are originated through a network of contractors and installers. 

The following table contains selected financial data for the Consumer and Small Business Banking segment:

TABLE 25:  Consumer and Small Business BankingFor the three months endedMarch 31,($ in millions)20252024Income Statement DataNet interest income$975 1,152 Provision for credit losses84 84 Noninterest income:Consumer banking revenue135 132 Wealth and asset management revenue66 59 Mortgage banking net revenue57 54 Commercial payments revenue20 20 Other noninterest income3 2 Noninterest expense:Compensation and benefits236 237 Net occupancy and equipment expense70 67 Marketing expense19 22 Loan and lease expense18 17 Other noninterest expense307 307 Income before income taxes$522 685 Average Balance Sheet DataConsumer loans, including held for sale$44,227 42,105 Commercial loans4,759 3,901 Demand deposits22,650 21,952 Interest checking deposits10,946 11,218 Savings deposits14,016 14,996 Money market deposits31,304 29,624 Certificates of deposit11,071 11,084 

Income before income taxes was $522 million for the three months ended March 31, 2025 compared to $685 million for the same period in the prior year. The decrease was primarily driven by a decrease in net interest income, partially offset by an increase in noninterest income. 

Net interest income decreased $177 million for the three months ended March 31, 2025 compared to the same period