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Fifth Third Bancorp Reports Second Quarter 2025 Diluted Earnings Per Share of $0.88
Accelerating revenue growth led by continued loan growth and net interest margin expansion
Reported results included a negative $0.02 impact from certain items on page 2
Key Financial DataKey Highlights
$ in millions for all balance sheet and income statement items
2Q25
1Q25
2Q24
         Stability:
•Net charge-off ratio(b) declined 1 bp sequentially and 4 bps compared to 2Q24; NPAs decreased 11% sequentially, including commercial NPAs down 18%
•Interest-bearing liabilities costs down 2 bps compared to 1Q25; 4% DDA growth year-over-year
•Strong profitability resulted in CET1 increasing 13 bps to 10.56%
    Profitability:
•Disciplined expense management; efficiency ratio(a) of 56.2%; adjusted efficiency ratio(a) of 55.5%, an improvement of 130 bps year-over-year
•Net interest margin expanded for the 6th consecutive quarter
•Adjusted ROTCE ex. AOCI(a) of 13.9% and adjusted ROA(a) of 1.22%
    Growth:
•5% loan growth compared to 2Q24; annual loan growth reaches highest level in over two years
•Consumer household growth of 2%, including 6% in the Southeast
•Assets under management of $73B, up 12% compared to 2Q24
Income Statement Data
Net income available to common shareholders$591$478$561
Net interest income (U.S. GAAP)1,4951,4371,387
Net interest income (FTE)(a)
1,5001,4421,393
Noninterest income750694695
Noninterest expense1,2641,3041,221
Per Share Data
Earnings per share, basic$0.88$0.71$0.82
Earnings per share, diluted0.880.710.81
Book value per share28.4727.4125.13
Tangible book value per share(a)
20.9819.9217.75
Balance Sheet & Credit Quality
Average portfolio loans and leases$123,071$121,272$116,891
Average deposits163,575164,157167,194
Accumulated other comprehensive loss(3,546)(3,895)(4,901)
Net charge-off ratio(b)
0.45%0.46%0.49%
Nonperforming asset ratio(c)
0.720.810.55
Financial Ratios
Return on average assets1.20%0.99%1.14%
Return on average common equity12.810.813.6
Return on average tangible common equity(a)
17.615.219.8
CET1 capital(d)(e)
10.5610.4310.62
Net interest margin(a)
3.123.032.88
Efficiency(a)
56.261.058.5
Other than the Quarterly Financial Review tables beginning on page 13, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Regulation S-K that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis.
From Tim Spence, Fifth Third Chairman, CEO and President:
Fifth Third's financial results once again underscore our strong balance sheet, diverse revenue streams, and disciplined expense management. We've expanded our net interest margin, improved credit metrics, and strengthened our efficiency ratio.

Our ongoing investments in strategic growth priorities continue to drive robust results. In the second quarter, adjusted revenues and adjusted PPNR increased year-over-year by 6% and 10%, respectively, marking the highest growth rate in the past two years. Our balance sheet remains well-diversified and neutrally positioned. This quarter, we accreted 13 basis points of CET1 capital and grew tangible book value per share by 18% over the past year.

By focusing on developing the capabilities to generate high-quality deposits, diversified loan originations, recurring fee revenue and consistent improvements in operating scalability, we expect to continue to generate strong, stable returns for our long-term shareholders during volatile environments.

As we move forward, we will continue to adhere to our operating principles of stability, profitability, and growth – in that order.
Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693 July 17, 2025

Income Statement Highlights
($ in millions, except per share data)For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Condensed Statements of Income
Net interest income (NII)(a)
$1,500$1,442$1,3934%8%
Provision for credit losses17317497(1)%78%
Noninterest income7506946958%8%
Noninterest expense1,2641,3041,221(3)%4%
Income before income taxes(a)
$813$658$77024%6%
Taxable equivalent adjustment$5$5$6—(17)%
Applicable income tax expense18013816330%10%
Net income$628$515$60122%4%
Dividends on preferred stock373740—(8)%
Net income available to common shareholders$591$478$56124%5%
Earnings per share, diluted$0.88$0.71$0.8124%9%
Fifth Third Bancorp (NASDAQ®: FITB) today reported second quarter 2025 net income available to common shareholders of $591 million, or $0.88 per diluted share, compared to $478 million, or $0.71 per diluted share, in the prior quarter and $561 million, or $0.81 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 2Q25
(after-tax impact; $ in millions, except per share data)
Severance expense (noninterest expense)(f)
$(11)
Valuation of Visa total return swap (noninterest income)(f)
$(1)
After-tax impact(f) of certain item(s)
$(12)
Diluted earnings per share impact of certain item(s)1
$(0.02)
Totals may not foot due to rounding; 1Diluted earnings per share impact reflects 674.034 million average diluted shares outstanding


2

Net Interest Income
(FTE; $ in millions)(a)
For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Interest Income
Interest income$2,489 $2,437 $2,626 2%(5)%
Interest expense9899951,233(1)%(20)%
Net interest income (NII)$1,500 $1,442 $1,393 4%8%
NII excluding certain items(a)
$1,500$1,442$1,3984%7%
Average Yield/Rate Analysisbps Change
Yield on interest-earning assets5.18 %5.13 %5.43 %5(25)
Rate paid on interest-bearing liabilities2.78 %2.80 %3.39 %(2)(61)
Ratios
Net interest rate spread2.40 %2.33 %2.04 %736
Net interest margin (NIM)3.12 %3.03 %2.88 %924
NIM excluding certain items(a)
3.12 %3.03 %2.89 %923
Compared to the prior quarter, NII increased $58 million, or 4%. This improvement primarily reflects higher average loan balances, fixed-rate asset repricing and strategic deposit management actions decreasing the cost of interest-bearing deposits. NII included a $14 million benefit in the quarter associated with the payoff of a partially charged-off commercial loan previously classified as nonaccrual. These same factors, coupled with the continued normalization of cash and other short-term investment balances, contributed to the 9 bps increase in NIM.
Compared to the year-ago quarter, NII increased $107 million, or 8%, and NIM increased 24 bps. This improvement was due to the benefits from proactive deposit and wholesale funding management decreasing interest-bearing liabilities costs by 61 bps, improved earning asset mix, and the benefit of fixed-rate asset repricing, which more than offset the impact of lower market rates on floating rate assets.

3

Noninterest Income
($ in millions)For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Noninterest Income
Wealth and asset management revenue$166$172$159(3)%4%
Commercial payments revenue152153154(1)%(1)%
Consumer banking revenue1471371397%6%
Capital markets fees909093—(3)%
Commercial banking revenue798090(1)%(12)%
Mortgage banking net revenue565750(2)%12%
Other noninterest income44147214%529%
Securities gains (losses), net16(9)3NM433%
Total noninterest income$750$694$6958%8%
Reported noninterest income increased $56 million, or 8%, from the prior quarter, and increased $55 million, or 8%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including the mark-to-market on the valuation of the Visa total return swap and securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are more than offset in noninterest expense.
Noninterest Income excluding certain items
($ in millions)For the Three Months Ended
JuneMarchJune% Change
202520252024SeqYr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)$750 $694 $695 
Valuation of Visa total return swap11823
Legal settlements and remediations——2
Securities (gains) losses, net(16)9(3)
Noninterest income excluding certain items(a)
$735 $721 $7172%3% 
Noninterest income excluding certain items increased $14 million, or 2%, compared to the prior quarter, and increased $18 million, or 3%, from the year-ago quarter.
Wealth and asset management revenue decreased $6 million, or 3% sequentially, due to seasonal tax-related revenue in the prior quarter. Commercial payments revenue decreased $1 million, or 1%, due to higher earnings credits. Consumer banking revenue increased $10 million, or 7%, driven by card and processing revenue and deposit fees. Capital markets fees were stable, reflecting decreases in client financial risk management and corporate bond fees, offset by increases in equity capital markets and M&A advisory revenue. The increase in other noninterest income was driven by seasonal equity fund investment income and the Visa total return swap.
Compared to the year-ago quarter, wealth and asset management revenue increased $7 million, or 4%, primarily reflecting an increase in personal asset management revenue due to AUM growth. Commercial payments revenue decreased $2 million, or 1%, driven by higher earnings credits and lower commercial card fees, partially offset by higher deposit fees. Consumer banking revenue increased $8 million, or 6%, primarily driven by deposit fees. Capital markets fees decreased $3 million, or 3%, reflecting a decrease in M&A advisory and client financial risk management, partially offset by higher loan syndication revenue. Commercial banking revenue decreased $11 million, or 12%, primarily reflecting lower business lending fees and the continued decrease in operating lease revenue. Mortgage banking net revenue increased $6 million, or 12%, due to the prior year loss on MSR net valuation adjustments not recurring in the current quarter.
4


Noninterest Expense
($ in millions)For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Noninterest Expense
Compensation and benefits$698$750$656(7)%6%
Technology and communications1261231142%11%
Net occupancy expense838783(5)%—
Equipment expense414238(2)%8%
Loan and lease expense36303320%9%
Marketing expense43283454%26%
Card and processing expense2221215%5%
Other noninterest expense215223242(4)%(11)%
Total noninterest expense$1,264$1,304$1,221(3)%4%
Reported noninterest expense decreased $40 million, or 3%, from the prior quarter, and increased $43 million, or 4%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below.
Noninterest Expense excluding certain item(s)
($ in millions)For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)$1,264 $1,304 $1,221 
Severance expense(15)——
Legal settlements and remediations——(11)
FDIC special assessment——(6)
Noninterest expense excluding certain item(s)(a)
$1,249 $1,304 $1,204(4)%4%

Compared to the prior quarter, noninterest expense excluding certain items decreased $55 million, or 4%, primarily reflecting a seasonal decrease in compensation and benefits expense. Noninterest expense in the current quarter included a $16 million expense related to the mark-to-market impact of non-qualified deferred compensation compared to a $4 million benefit in the prior quarter, both of which were largely offset in net securities gains/losses through noninterest income.
Compared to the year-ago quarter, noninterest expense excluding certain items increased $45 million, or 4%. The year-ago quarter included an $3 million expense related to the mark-to-market impact of non-qualified deferred compensation, which was largely offset in net securities gains through noninterest income.
5

Average Interest-Earning Assets
($ in millions)For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans$54,075 $53,401 $52,357 1%3%
Commercial mortgage loans12,41012,36811,352—9%
Commercial construction loans5,8105,7975,917—(2)%
Commercial leases3,1203,1102,575—21%
Total commercial loans and leases$75,415$74,676$72,2011%4%
Consumer loans:
Residential mortgage loans$17,615$17,552$17,004—4%
Home equity4,3834,2223,9294%12%
Indirect secured consumer loans17,24816,47615,3735%12%
Credit card1,6591,6271,7282%(4)%
Solar energy installation loans4,2684,2213,9161%9%
Other consumer loans2,4832,4982,740(1)%(9)%
Total consumer loans$47,656$46,596$44,6902%7%
Total average portfolio loans and leases$123,071 $121,272 $116,891 1%5%
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale$45$64$33(30)%36%
Consumer loans held for sale54142835926%51%
Total average loans and leases held for sale$586$492$39219%49%
Total average loans and leases$123,657$121,764$117,2832%5%
Securities (taxable and tax-exempt)$56,243$56,598$56,607(1)%(1)%
Other short-term investments12,78214,44620,609(12)%(38)%
Total average interest-earning assets$192,682$192,808$194,499—(1)%
Compared to the prior quarter, total average portfolio loans and leases increased 1%. Average commercial portfolio loans and leases increased 1%, primarily driven by increases in C&I loans. Average consumer portfolio loans increased 2%, primarily due to increases in indirect secured consumer and home equity loans.
Compared to the year-ago quarter, total average portfolio loans and leases increased 5%. Average commercial portfolio loans and leases increased 4%, primarily reflecting increases in C&I and commercial mortgage loans. Average consumer portfolio loans increased 7%, primarily due to increases in indirect secured consumer and residential mortgage loans.
Average securities (taxable and tax-exempt; amortized cost) of $56 billion in the current quarter decreased 1% compared to the prior and year-ago quarter. Average other short-term investments (including interest-bearing cash) of $13 billion in the current quarter decreased 12% compared to the prior quarter and decreased 38% compared to the year-ago quarter due to proactive liability management and increased lending activity.
Period-end commercial portfolio loans and leases of $74 billion decreased 1% compared to the prior quarter, primarily reflecting decreases in C&I and commercial construction loans. Compared to the year-ago quarter, period-end commercial portfolio loans and leases increased 3%, primarily due to increases in C&I and commercial mortgage loans.
Period-end consumer portfolio loans of $48 billion increased 3% compared to the prior quarter, primarily reflecting an increase in indirect secured consumer and home equity loans. Compared to the year-ago quarter, period-end consumer portfolio loans increased 8%, primarily driven by increases in indirect secured consumer, residential mortgage, and home equity loans.
6

Total period-end securities (taxable and tax-exempt; amortized cost) of $55 billion in the current quarter decreased 2% compared to the prior quarter and decreased 3% compared to the year-ago quarter. Period-end other short-term investments of approximately $13 billion decreased 13% compared to the prior quarter and decreased 38% compared to the year-ago quarter.
Average Deposits
($ in millions)For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Average Deposits
Demand$40,885 $39,788 $40,266 3%2%
Interest checking56,73857,96458,156(2)%(2)%
Savings16,96217,22617,747(2)%(4)%
Money market36,29636,45335,511—2%
Total transaction deposits$150,881$151,431$151,680—(1)%
CDs $250,000 or less10,49410,38010,7671%(3)%
Total core deposits$161,375$161,811$162,447—(1)%
CDs over $250,0001
2,2002,3464,747(6)%(54)%
Total average deposits$163,575 $164,157 $167,194 —(2)%
1CDs over $250,000 includes $1.1BN, $1.3BN, and $3.8BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/25, 3/31/25, and 6/30/24, respectively.
Compared to the prior quarter, total average deposits were stable, primarily reflecting modest increases in demand deposits and CDs $250,000 or less, offset by a decline in interest checking and savings balances. The growth in demand deposits is a result of our focus on improving our deposit mix and resulted in four consecutive quarters of declining deposit costs. Period-end total deposits decreased 1%.
Compared to the year-ago quarter, total average deposits decreased 2%, primarily driven by the continued reduction in brokered deposits and lower interest checking balances, partially offset by an increase in money market and demand deposits. Period-end total deposits decreased 2%.
The period-end portfolio loan-to-core deposit ratio was 76% in the current quarter, compared to 75% in the prior quarter and 72% in the year-ago quarter.

Average Wholesale Funding
($ in millions)For the Three Months Ended% Change
JuneMarchJune
202520252024SeqYr/Yr
Average Wholesale Funding
CDs over $250,0001
$2,200 $2,346 $4,747 (6)%(54)%
Federal funds purchased2061942306%(10)%
Securities sold under repurchase agreements35328637323%(5)%
FHLB advances4,9764,7673,1654%57%
Derivative collateral and other secured borrowings8984546%65%
Long-term debt14,59914,58515,611—(6)%
Total average wholesale funding$22,423$22,262$24,1801%(7)%
1CDs over $250,000 includes $1.1BN, $1.3BN, and $3.8BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/25, 3/31/25, and 6/30/24, respectively.
Compared to the prior quarter, average wholesale funding increased 1%, driven in part by higher short-term FHLB advances and securities sold under repurchase agreements, partially offset by a reduction in CDs over $250,000. The 7% decrease in average wholesale funding compared to the year-ago quarter was primarily due to lower balances in CDs over $250,000 and long-term debt, partially offset by increased utilization of short-term FHLB advances.
7

Credit Quality Summary
($ in millions)As of and For the Three Months Ended
JuneMarchDecemberSeptemberJune
20252025202420242024
Total nonaccrual portfolio loans and leases (NPLs)$853$966$823$686$606
Repossessed property899119
OREO2521212828
Total nonperforming portfolio loans and leases and OREO (NPAs)$886$996$853$725$643
NPL ratio(g)
0.70 %0.79 %0.69 %0.59 %0.52 %
NPA ratio(c)
0.72 %0.81 %0.71 %0.62 %0.55 %
Portfolio loans and leases 30-89 days past due (accrual)$277$385$303$283$302
Portfolio loans and leases 90 days past due (accrual)3433324033
30-89 days past due as a % of portfolio loans and leases0.23 %0.31 %0.25 %0.24 %0.26 %
90 days past due as a % of portfolio loans and leases0.03 %0.03 %0.03 %0.03 %0.03 %
Allowance for loan and lease losses (ALLL), beginning$2,384 $2,352 $2,305 $2,288 $2,318 
Total net losses charged-off(139)(136)(136)(142)(144)
Provision for loan and lease losses167168183159114
ALLL, ending$2,412$2,384$2,352$2,305$2,288
Reserve for unfunded commitments, beginning$140$134$138$137$154
Provision for (benefit from) the reserve for unfunded commitments66(4)1(17)
Reserve for unfunded commitments, ending$146$140$134$138$137
Total allowance for credit losses (ACL)$2,558 $2,524 $2,486 $2,443 $2,425 
ACL ratios:
As a % of portfolio loans and leases2.09 % 2.07 % 2.08 % 2.09 % 2.08 % 
As a % of nonperforming portfolio loans and leases300 % 261 % 302 % 356 % 400 % 
As a % of nonperforming portfolio assets289 % 253 % 291 % 337 % 377 % 
ALLL as a % of portfolio loans and leases1.97 %1.95 %1.96 %1.98 %1.96 %
Total losses charged-off$(194)$(173)$(175)$(183)$(182)
Total recoveries of losses previously charged-off5537394138
Total net losses charged-off$(139)$(136)$(136)$(142)$(144)
Net charge-off ratio (NCO ratio)(b)
0.45 %0.46 %0.46 %0.48 %0.49 %
Commercial NCO ratio0.38 %0.35 %0.32 %0.40 %0.45 %
Consumer NCO ratio0.56 %0.63 %0.68 %0.62 %0.57 %
The provision for credit losses totaled $173 million in the current quarter and the ACL ratio represented 2.09% of total portfolio loans and leases at quarter end, consistent with 2.07% in the prior quarter and 2.08% in the year-ago period. The ACL covered 300% of nonperforming portfolio loans and leases and 289% of nonperforming portfolio assets.
Net charge-offs totaled $139 million in the current quarter, up $3 million from the prior quarter and the NCO ratio decreased 1 bp to 0.45%. Commercial net charge-offs were $71 million, with a commercial NCO ratio of 0.38%, up 3 bps from the prior quarter. Consumer net charge-offs were $68 million, with a consumer NCO ratio of 0.56%, down 7 bps sequentially.
8

Compared to the year-ago quarter, net charge-offs decreased $5 million and the NCO ratio decreased 4 bps. The commercial NCO ratio decreased 7 bps, and the consumer NCO ratio decreased 1 bps compared to the prior year.
Nonperforming portfolio loans and leases declined to $853 million in the current quarter, representing an NPL ratio of 0.70%, down from 0.79% in the prior quarter and up from 0.52% in the year-ago quarter.
Nonperforming portfolio assets totaled $886 million in the current quarter, resulting in an NPA ratio of 0.72%, compared to 0.81% in the prior quarter and 0.55% in the year-ago quarter.

Capital Position
As of and For the Three Months Ended
JuneMarchDecemberSeptemberJune
20252025202420242024
Capital Position
Average total Bancorp shareholders' equity as a % of average assets
9.82 %9.50 %9.40 %9.47 %8.80 %
Tangible equity(a)
9.39 %9.07 %9.02 %8.99 %8.91 %
Tangible common equity (excluding AOCI)(a)
8.38 %8.07 %8.03 %8.00 %7.92 %
Tangible common equity (including AOCI)(a)
6.84 %6.40 %6.02 %6.52 %5.80 %
Regulatory Capital Ratios(d)(e)
CET1 capital
10.56 %10.43 %10.57 %10.75 %10.62 %
Tier 1 risk-based capital
11.83 %11.71 %11.86 %12.07 %11.93 %
Total risk-based capital
13.75 %13.63 %13.86 %14.13 %13.95 %
Leverage9.42 %9.23 %9.22 %9.11 %9.07 %
CET1 capital ratio of 10.56% increased 13 bps sequentially driven by strong profitability, reflecting the resilience of our core business performance. Fifth Third did not execute share repurchases in the second quarter of 2025.
In June 2025, Fifth Third's Board of Directors approved a new share repurchase authorization of up to 100 million shares. The new repurchase authorization does not have an expiration date and may be executed through open market purchases or private negotiated transactions.

9

Tax Rate
The effective tax rate for the quarter was 22.2% compared with 21.2% in the prior quarter and 21.3% in the year-ago quarter.
Conference Call
Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”). Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address, which will be available for 30 days.
Corporate Profile
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com.

Earnings Release End Notes
(a)Non-GAAP measure; see discussion of non-GAAP reconciliation beginning on page 26.
(b)Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis.
(c)Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO.
(d)Regulatory capital ratios as of December 31, 2024, September 30, 2024 and June 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.
(e)Current period regulatory capital ratios are estimated.
(f)Assumes a 24% tax rate.
(g)Nonperforming portfolio loans and leases as a percent of portfolio loans and leases.



10


FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”).

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements, including the use of artificial intelligence; (13) failure of internal controls and other risk management programs; (14) losses related to fraud, theft, misappropriation or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) weakness in the national or local economies; (24) global political and economic uncertainty or negative actions; (25) changes in interest rates and the effects of inflation; (26) changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; (27) changes and trends in capital markets; (28) fluctuation of Fifth Third’s stock price; (29) volatility in mortgage banking revenue; (30) litigation, investigations, and enforcement proceedings; (31) breaches of contractual covenants, representations and warranties; (32) competition and changes in the financial services industry; (33) potential impacts of the adoption of real-time payment networks; (34) changing retail distribution strategies, customer preferences and behavior; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events, other natural disasters, or health emergencies (including pandemics); (43) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (44) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (45) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.
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11

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Quarterly Financial Review for June 30, 2025

Table of Contents


Financial Highlights13-14
Consolidated Statements of Income15-16
Consolidated Balance Sheets17-18
Consolidated Statements of Changes in Equity19
Average Balance Sheets and Yield/Rate Analysis20-21
Summary of Loans and Leases22
Regulatory Capital23
Summary of Credit Loss Experience24
Asset Quality25
Non-GAAP Reconciliation26-28
Segment Presentation29


12

Fifth Third Bancorp and Subsidiaries
Financial HighlightsAs of and For the Three Months Ended% / bps% / bps
$ in millions, except per share dataChangeYear to DateChange
(unaudited)JuneMarchJuneJuneJune
202520252024SeqYr/Yr20252024Yr/Yr
Income Statement Data
Net interest income$1,495$1,437$1,3874%8%$2,932$2,7716%
Net interest income (FTE)(a)
1,5001,4421,3934%8%2,9422,7836%
Noninterest income7506946958%8%1,4441,4063%
Total revenue (FTE)(a)
2,2502,1362,0885%8%4,3864,1895%
Provision for credit losses17317497(1%)78%34719182%
Noninterest expense1,2641,3041,221(3%)4%2,5682,562—
Net income62851560122%4%1,1421,1222%
Net income available to common shareholders59147856124%5%1,0691,0413%
Earnings Per Share Data
Net income allocated to common shareholders$591$478$56124%5%$1,069$1,0413%
Average common shares outstanding (in thousands):
Basic670,787671,052686,781—(2%)670,919686,265(2%)
Diluted674,034676,040691,083—(2%)675,032690,858(2%)
Earnings per share, basic$0.88$0.71$0.8224%7%$1.59$1.525%
Earnings per share, diluted0.880.710.8124%9%1.581.515%
Common Share Data
Cash dividends per common share$0.37$0.37$0.35—6%$0.74$0.706%
Book value per share28.4727.4125.134%13%28.4725.1313%
Market value per share41.1339.2036.495%13%41.1336.4913%
Common shares outstanding (in thousands)667,710667,272680,789—(2%)667,710680,789(2%)
Market capitalization$27,463$26,157$24,8425%11%$27,463$24,84211%
Financial Ratios
Return on average assets1.20 %0.99 %1.14 %2161.09 %1.06 %3
Return on average common equity12.8 %10.8 %13.6 %200(80)11.8 %12.6 %(80)
Return on average tangible common equity(a)
17.6 %15.2 %19.8 %240(220)16.5 %18.3 %(180)
Noninterest income as a percent of total revenue(a)
33 %32 %33 %100—33 %34 %(100)
Dividend payout42.0 %52.1 %42.7 %(1,010)(70)46.5 %46.1 %40
Average total Bancorp shareholders’ equity as a percent of average assets
9.82 %9.50 %8.80 %321029.66 %8.79 %87
Tangible common equity(a)
8.38 %8.07 %7.92 %31468.38 %7.92 %46
Net interest margin (FTE)(a)
3.12 %3.03 %2.88 %9243.08 %2.87 %21
Efficiency (FTE)(a)
56.2 %61.0 %58.5 %(480)(230)58.6 %61.2 %(260)
Effective tax rate22.2 %21.2 %21.3 %1009021.8 %21.2 %60
Credit Quality
Net losses charged-off$139$136$1442 %(3 %)$276$2549 %
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.45 %0.46 %0.49 %(1)(4)0.45 %0.44 %1
ALLL as a percent of portfolio loans and leases1.97 %1.95 %1.96 %211.97 %1.96 %1
ACL as a percent of portfolio loans and leases(g)
2.09 %2.07 %2.08 %212.09 %2.08 %1
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO0.72 %0.81 %0.55 %(9)170.72 %0.55 %17
Average Balances
Loans and leases, including held for sale$123,657$121,764$117,2832%5%$122,716$117,4914%
Securities and other short-term investments69,02571,04477,216(3%)(11%)70,02977,433(10%)
Assets210,554210,558212,475—(1%)210,556212,839(1%)
Transaction deposits(b)
150,881151,431151,680—(1%)151,153152,018(1%)
Core deposits(c)
161,375161,811162,447—(1%)161,591162,523(1%)
Wholesale funding(d)
22,42322,26224,1801%(7%)22,34324,476(9%)
Bancorp shareholders' equity
20,67020,00018,7073%10%20,33718,7179%
Regulatory Capital Ratios(e)(f)
CET1 capital
10.56 %10.43 %10.62 %13(6)10.56 %10.62 %(6)
Tier 1 risk-based capital
11.83 %11.71 %11.93 %12(10)11.83 %11.93 %(10)
Total risk-based capital
13.75 %13.63 %13.95 %12(20)13.75 %13.95 %(20)
Leverage9.42 %9.23 %9.07 %19359.42 %9.07 %35
Additional Metrics
Banking centers1,0891,0841,070—2%1,0891,0702%
ATMs2,1702,0692,0675%5%2,1702,0675%
Full-time equivalent employees18,69018,78618,607(1%)—18,69018,607—
Assets under care ($ in billions)(h)
$657$639$6313%4%$657$6314%
Assets under management ($ in billions)(h)
7368657%12%736512%
(a)Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.
(b)Includes demand, interest checking, savings and money market deposits..
(c)Includes transaction deposits plus CDs $250,000 or less.
(d)Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.
(e)Current period regulatory capital ratios are estimates.
(f)Regulatory capital ratios as of June 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.
(g)The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.
(h)Assets under management and assets under care include trust and brokerage assets.


13

Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share dataAs of and For the Three Months Ended
(unaudited)JuneMarchDecemberSeptemberJune
20252025202420242024
Income Statement Data
Net interest income$1,495$1,437$1,437$1,421$1,387
Net interest income (FTE)(a)
1,5001,4421,4431,4271,393
Noninterest income750694732711695
Total revenue (FTE)(a)
2,2502,1362,1752,1382,088
Provision for credit losses17317417916097
Noninterest expense1,2641,3041,2261,2441,221
Net income628515620573601
Net income available to common shareholders591478582532561
Earnings Per Share Data
Net income allocated to common shareholders$591$478$582$532$561
Average common shares outstanding (in thousands):
Basic670,787671,052675,307680,895686,781
Diluted674,034676,040681,456686,109691,083
Earnings per share, basic$0.88$0.71$0.86$0.78$0.82
Earnings per share, diluted0.880.710.850.780.81
Common Share Data
Cash dividends per common share$0.37$0.37$0.37$0.37$0.35
Book value per share28.4727.4126.1727.6025.13
Market value per share41.1339.2042.2842.8436.49
Common shares outstanding (in thousands)667,710667,272669,854676,269680,789
Market capitalization$27,463$26,157$28,321$28,971$24,842
Financial Ratios
Return on average assets1.20 %0.99 %1.17 %1.06 %1.14 %
Return on average common equity12.8 %10.8 %13.0 %11.7 %13.6 %
Return on average tangible common equity(a)
17.6 %15.2 %18.4 %16.3 %19.8 %
Noninterest income as a percent of total revenue(a)
33 %32 %34 %33 %33 %
Dividend payout42.0 %52.1 %43.0 %47.4 %42.7 %
Average total Bancorp shareholders’ equity as a percent of average assets
9.82 %9.50 %9.40 %9.47 %8.80 %
Tangible common equity(a)
8.38 %8.07 %8.03 %8.00 %7.92 %
Net interest margin (FTE)(a)
3.12 %3.03 %2.97 %2.90 %2.88 %
Efficiency (FTE)(a)
56.2 %61.0 %56.4 %58.2 %58.5 %
Effective tax rate22.2 %21.2 %18.8 %21.3 %21.3 %
Credit Quality
Net losses charged-off$139$136$136$142$144
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.45 %0.46 %0.46 %0.48 %0.49 %
ALLL as a percent of portfolio loans and leases1.97 %1.95 %1.96 %1.98 %1.96 %
ACL as a percent of portfolio loans and leases(g)
2.09 %2.07 %2.08 %2.09 %2.08 %
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO0.72 %0.81 %0.71 %0.62 %0.55 %
Average Balances
Loans and leases, including held for sale$123,657$121,764$118,492$117,415$117,283
Securities and other short-term investments69,02571,04475,02178,42177,216
Assets210,554210,558211,709213,838212,475
Transaction deposits(b)
150,881151,431154,114153,154151,680
Core deposits(c)
161,375161,811164,706163,697162,447
Wholesale funding(d)
22,42322,26220,20223,41524,180
Bancorp shareholders’ equity
20,67020,00019,89320,25118,707
Regulatory Capital Ratios(e)(f)
CET1 capital
10.56 %10.43 %10.57 %10.75 %10.62 %
Tier 1 risk-based capital11.83 %11.71 %11.86 %12.07 %11.93 %
Total risk-based capital
13.75 %13.63 %13.86 %14.13 %13.95 %
Leverage9.42 %9.23 %9.22 %9.11 %9.07 %
Additional Metrics
Banking centers1,0891,0841,0891,0721,070
ATMs2,1702,0692,0802,0602,067
Full-time equivalent employees18,69018,78618,61618,57918,607
Assets under care ($ in billions)(h)
$657$639$634$635$631
Assets under management ($ in billions)(h)
7368696965
(a)Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.
(b)Includes demand, interest checking, savings and money market deposits.
(c)Includes transaction deposits plus CDs $250,000 or less.
(d)Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.
(e)Current period regulatory capital ratios are estimates.
(f)Regulatory capital ratios as of December 31, 2024, September 30, 2024 and June 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.
(g)The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.
(h)Assets under management and assets under care include trust and brokerage assets.
14

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millionsFor the Three Months Ended% ChangeYear to Date% Change
(unaudited)JuneMarchJuneJuneJune
202520252024SeqYr/Yr20252024Yr/Yr
Interest Income
Interest and fees on loans and leases$1,881$1,816$1,8714%1%$3,696$3,731(1%)
Interest on securities4584514582%—910913—
Interest on other short-term investments145165291(12%)(50%)311584(47%)
Total interest income2,4842,4322,6202%(5%)4,9175,228(6%)
Interest Expense
Interest on deposits732743958(1%)(24%)1,4761,912(23%)
Interest on federal funds purchased223—(33%)46(33%)
Interest on other short-term borrowings5956485%23%1159521%
Interest on long-term debt1961942241%(13%)390444(12%)
Total interest expense9899951,233(1%)(20%)1,9852,457(19%)
Net Interest Income1,4951,4371,3874%8%2,9322,7716%
Provision for credit losses17317497(1%)78%34719182%
Net Interest Income After Provision for Credit Losses1,3221,2631,2905%2%2,5852,580—
Noninterest Income
Wealth and asset management revenue166172159(3%)4%3383206%
Commercial payments revenue152153154(1%)(1%)3052982%
Consumer banking revenue1471371397%6%2842753%
Capital markets fees909093—(3%)179190(6%)
Commercial banking revenue798090(1)(12%)160174(8%)
Mortgage banking net revenue565750(2%)12%1131049%
Other noninterest income44147214%529%583281%
Securities gains (losses), net16(9)3NM433%713(46%)
Total noninterest income7506946958%8%1,4441,4063%
Noninterest Expense
Compensation and benefits698750656(7%)6%1,4471,4093%
Technology and communications1261231142%11%2502318%
Net occupancy expense838783(5%)—1711701%
Equipment expense414238(2%)8%82768%
Loan and lease expense36303320%9%66626%
Marketing expense43283454%26%71668%
Card and processing expense2221215%5%43415%
Other noninterest expense215223242(4%)(11%)438507(14%)
Total noninterest expense1,2641,3041,221(3%)4%2,5682,562—
Income Before Income Taxes80865376424%6%1,4611,4243%
Applicable income tax expense18013816330%10%3193026%
Net Income62851560122%4%1,1421,1222%
Dividends on preferred stock373740—(8%)7381(10%)
Net Income Available to Common Shareholders$591$478$56124%5%$1,069$1,0413%

15

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millionsFor the Three Months Ended
(unaudited)JuneMarchDecemberSeptemberJune
20252025202420242024
Interest Income
Interest and fees on loans and leases$1,881$1,816$1,836$1,910$1,871
Interest on securities458451464461458
Interest on other short-term investments145165228298291
Total interest income2,4842,4322,5282,6692,620
Interest Expense
Interest on deposits732743856968958
Interest on federal funds purchased22323
Interest on other short-term borrowings5956224048
Interest on long-term debt196194210238224
Total interest expense9899951,0911,2481,233
Net Interest Income1,4951,4371,4371,4211,387
Provision for credit losses17317417916097
Net Interest Income After Provision for Credit Losses1,3221,2631,2581,2611,290
Noninterest Income
Wealth and asset management revenue166172163163159
Commercial payments revenue152153155154154
Consumer banking revenue147137137143139
Capital markets fees909012311193
Commercial banking revenue79801099390
Mortgage banking net revenue5657575050
Other noninterest income (loss)4414(4)(13)7
Securities gains (losses), net16(9)(8)103
Total noninterest income750694732711695
Noninterest Expense
Compensation and benefits698750665690656
Technology and communications126123123121114
Net occupancy expense8387888183
Equipment expense4142393838
Loan and lease expense3630363433
Marketing expense4328232634
Card and processing expense2221212221
Other noninterest expense215223231232242
Total noninterest expense1,2641,3041,2261,2441,221
Income Before Income Taxes808653764728764
Applicable income tax expense180138144155163
Net Income628515620573601
Dividends on preferred stock3737384140
Net Income Available to Common Shareholders$591$478$582$532$561

16

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share dataAs of% Change
(unaudited)JuneMarchJune
202520252024SeqYr/Yr
Assets
Cash and due from banks$2,972$3,009$2,837(1%)5%
Other short-term investments13,04314,96521,085(13%)(38%)
Available-for-sale debt and other securities(a)
38,27039,74738,986(4%)(2%)
Held-to-maturity securities(b)
11,63011,18511,4434%2%
Trading debt securities1,3241,1591,13214%17%
Equity securities404494476(18%)(15%)
Loans and leases held for sale64647353737%20%
Portfolio loans and leases:
  Commercial and industrial loans53,31253,70051,840(1%)3%
  Commercial mortgage loans12,11212,35711,429(2%)6%
  Commercial construction loans5,5515,9525,806(7%)(4%)
  Commercial leases3,1773,1282,7082%17%
Total commercial loans and leases74,15275,13771,783(1%)3%
  Residential mortgage loans17,68117,58117,0401%4%
  Home equity4,4854,2653,9695%13%
  Indirect secured consumer loans17,59116,80415,4425%14%
  Credit card1,7071,6601,7333%(2%)
  Solar energy installation loans4,3164,2623,9511%9%
  Other consumer loans2,4642,4822,661(1%)(7%)
Total consumer loans48,24447,05444,7963%8%
Portfolio loans and leases122,396122,191116,579—5%
Allowance for loan and lease losses(2,412)(2,384)(2,288)1%5%
Portfolio loans and leases, net119,984119,807114,291—5%
Bank premises and equipment2,5602,5062,3892%7%
Operating lease equipment34431439210%(12%)
Goodwill4,9184,9184,918——
Intangible assets7582107(9%)(30%)
Servicing rights1,6291,6631,731(2%)(6%)
Other assets12,19212,34712,938(1%)(6%)
Total Assets$209,991$212,669$213,262(1%)(2%)
Liabilities
Deposits:
  Demand $42,174$40,855$40,6173%4%
  Interest checking 55,52458,42057,509(5%)(3%)
  Savings 16,61417,58317,419(6%)(5%)
  Money market 36,58636,50536,259—1%
  CDs $250,000 or less10,88310,24810,8826%—
  CDs over $250,0002,4261,8944,08228%(41%)
Total deposits164,207165,505166,768(1%)(2%)
Federal funds purchased178227194(22%)(8%)
Other short-term borrowings3,3935,4573,370(38%)1%
Accrued taxes, interest and expenses1,9701,7222,04014%(3%)
Other liabilities4,6274,8165,371(4%)(14%)
Long-term debt14,49214,53916,293—(11%)
Total Liabilities188,867192,266194,036(2%)(3%)
Equity
Common stock(c)
2,0512,0512,051——
Preferred stock2,1162,1162,116——
Capital surplus3,7943,7733,7641%1%
Retained earnings24,71824,37723,5421%5%
Accumulated other comprehensive loss(3,546)(3,895)(4,901)(9%)(28%)
Treasury stock(8,009)(8,019)(7,346)—9%
Total Equity21,12420,40319,2264%10%
Total Liabilities and Equity$209,991$212,669$213,262(1%)(2%)
(a) Amortized cost$41,731$43,445$43,596(4%)(4%)
(b) Market values11,547 11,072 11,187 4 %3 %
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized2,000,0002,000,0002,000,000——
Outstanding, excluding treasury667,710667,272680,789——
Treasury256,183256,621243,103——


17

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share dataAs of
(unaudited)JuneMarchDecemberSeptemberJune
20252025202420242024
Assets
Cash and due from banks$2,972$3,009$3,014$3,215$2,837
Other short-term investments13,04314,96517,12021,72921,085
Available-for-sale debt and other securities(a)
38,27039,74739,54740,39638,986
Held-to-maturity securities(b)
11,63011,18511,27811,35811,443
Trading debt securities1,3241,1591,1851,1761,132
Equity securities404494341428476
Loans and leases held for sale646473640612537
Portfolio loans and leases:
  Commercial and industrial loans53,31253,70052,27150,91651,840
  Commercial mortgage loans12,11212,35712,24611,39411,429
  Commercial construction loans5,5515,9525,5885,9475,806
  Commercial leases3,1773,1283,1882,8732,708
Total commercial loans and leases74,15275,13773,29371,13071,783
  Residential mortgage loans17,68117,58117,54317,16617,040
  Home equity4,4854,2654,1884,0743,969
  Indirect secured consumer loans17,59116,80416,31315,94215,442
  Credit card1,7071,6601,7341,7031,733
  Solar energy installation loans4,3164,2624,2024,0783,951
  Other consumer loans2,4642,4822,5182,5752,661
Total consumer loans48,24447,05446,49845,53844,796
Portfolio loans and leases122,396122,191119,791116,668116,579
Allowance for loan and lease losses(2,412)(2,384)(2,352)(2,305)(2,288)
Portfolio loans and leases, net119,984119,807117,439114,363114,291
Bank premises and equipment2,5602,5062,4752,4252,389
Operating lease equipment344314319357392
Goodwill4,9184,9184,9184,9184,918
Intangible assets75829098107
Servicing rights1,6291,6631,7041,6561,731
Other assets12,19212,34712,85711,58712,938
Total Assets$209,991$212,669$212,927$214,318$213,262
Liabilities
Deposits:
  Demand $42,174$40,855$41,038$41,393$40,617
  Interest checking55,52458,42059,30658,72757,509
  Savings 16,61417,58317,14716,99017,419
  Money market 36,58636,50536,60537,48236,259
CDs $250,000 or less10,88310,24810,79810,48010,882
CDs over $250,0002,4261,8942,3583,2684,082
Total deposits164,207165,505167,252168,340166,768
Federal funds purchased178227204169194
Other short-term borrowings3,3935,4574,4501,4243,370
Accrued taxes, interest and expenses1,9701,7222,1372,0342,040
Other liabilities4,6274,8164,9024,4715,371
Long-term debt14,49214,53914,33717,09616,293
Total Liabilities188,867192,266193,282193,534194,036
Equity
Common stock(c)
2,0512,0512,0512,0512,051
Preferred stock2,1162,1162,1162,1162,116
Capital surplus3,7943,7733,8043,7843,764
Retained earnings24,71824,37724,15023,82023,542
Accumulated other comprehensive loss(3,546)(3,895)(4,636)(3,446)(4,901)
Treasury stock(8,009)(8,019)(7,840)(7,541)(7,346)
Total Equity21,12420,40319,64520,78419,226
Total Liabilities and Equity$209,991$212,669$212,927$214,318$213,262
(a) Amortized cost$41,731$43,445$43,878$43,754$43,596
(b) Market values11,54711,07210,96511,55411,187
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized2,000,0002,000,0002,000,0002,000,0002,000,000
Outstanding, excluding treasury667,710667,272669,854676,269680,789
Treasury256,183256,621254,039247,624243,103
18

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
For the Three Months EndedYear to Date
JuneJuneJuneJune
2025202420252024
Total Equity, Beginning$20,403$19,018$19,645$19,172
Net income6286011,1421,122
Other comprehensive income (loss), net of tax:
Change in unrealized gains (losses):
Available-for-sale debt securities1792660(177)
Qualifying cash flow hedges148(40)383(287)
Amortization of unrealized losses on securities transferred to held-to-maturity22254750
Comprehensive income9775882,232708
Cash dividends declared:
Common stock(250)(243)(501)(486)
Preferred stock(37)(40)(73)(81)
Impact of stock transactions under stock compensation plans, net31284748
Shares acquired for treasury—(125)(226)(125)
Impact of cumulative effect of change in accounting principle———(10)
Total Equity, Ending$21,124$19,226$21,124$19,226
19

Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate AnalysisFor the Three Months Ended
$ in millionsJuneMarchJune
(unaudited)202520252024
AverageAverageAverageAverageAverageAverage
BalanceYield/RateBalanceYield/RateBalanceYield/Rate
Assets
Interest-earning assets:
Loans and leases:
  Commercial and industrial loans(a)
$54,1096.28 %$53,4306.22 %$52,3897.13 %
  Commercial mortgage loans(a)
12,4206.12 %12,3885.97 %11,3536.26 %
  Commercial construction loans(a)
5,8107.17 %5,8136.92 %5,9177.14 %
  Commercial leases(a)
3,1214.83 %3,1104.80 %2,5764.33 %
Total commercial loans and leases75,4606.26 %74,7416.17 %72,2356.90 %
  Residential mortgage loans18,1563.98 %17,9803.96 %17,3633.66 %
  Home equity4,3837.42 %4,2227.57 %3,9298.37 %
  Indirect secured consumer loans17,2485.63 %16,4765.57 %15,3735.18 %
  Credit card1,65914.33 %1,62714.76 %1,72812.86 %
  Solar energy installation loans4,2688.10 %4,2218.03 %3,9168.35 %
  Other consumer loans2,4839.09 %2,4979.37 %2,7399.17 %
Total consumer loans48,1975.87 %47,0235.88 %45,0485.69 %
Total loans and leases123,6576.11 %121,7646.06 %117,2836.43 %
Securities:
Taxable securities54,8963.29 %55,2053.25 %55,2413.27 %
Tax exempt securities(a)
1,3473.19 %1,3933.18 %1,3663.27 %
Other short-term investments12,7824.56 %14,4464.64 %20,6095.67 %
Total interest-earning assets192,6825.18 %192,8085.13 %194,4995.43 %
Cash and due from banks2,4372,3882,637
Other assets17,81917,71417,656
Allowance for loan and lease losses(2,384)(2,352)(2,317)
Total Assets$210,554$210,558$212,475
Liabilities
Interest-bearing liabilities:
  Interest checking deposits$56,7382.69 %$57,9642.69 %$58,1563.39 %
  Savings deposits16,9620.48 %17,2260.53 %17,7470.67 %
  Money market deposits36,2962.40 %36,4532.43 %35,5113.00 %
  CDs $250,000 or less10,4943.52 %10,3803.61 %10,7674.22 %
Total interest-bearing core deposits120,4902.36 %122,0232.39 %122,1812.95 %
  CDs over $250,0002,2004.07 %2,3464.43 %4,7475.16 %
Total interest-bearing deposits122,6902.39 %124,3692.42 %126,9283.04 %
  Federal funds purchased2064.39 %1944.38 %2305.41 %
  Securities sold under repurchase agreements3531.16 %2860.92 %3731.97 %
  FHLB advances4,9764.59 %4,7674.62 %3,1655.71 %
  Derivative collateral and other secured borrowings895.61 %846.46 %546.87 %
  Long-term debt14,5995.36 %14,5855.38 %15,6115.78 %
Total interest-bearing liabilities142,9132.78 %144,2852.80 %146,3613.39 %
Demand deposits40,88539,78840,266
Other liabilities6,0866,4857,141
Total Liabilities189,884190,558193,768
Total Equity20,67020,00018,707
Total Liabilities and Equity$210,554$210,558$212,475
Ratios:
  Net interest margin (FTE)(b)
3.12 %3.03 %2.88 %
  Net interest rate spread (FTE)(b)
2.40 %2.33 %2.04 %
  Interest-bearing liabilities to interest-earning assets74.17 %74.83 %75.25 %
(a) Average Yield/Rate of these assets are presented on an FTE basis.
(b) Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.









20

Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate AnalysisYear to Date
$ in millionsJuneJune
(unaudited)20252024
AverageAverageAverageAverage
BalanceYield/RateBalanceYield/Rate
Assets
Interest-earning assets:
Loans and leases:
  Commercial and industrial loans(a)
$53,7726.25 %$52,8207.11 %
  Commercial mortgage loans(a)
12,4046.05 %11,3466.27 %
  Commercial construction loans(a)
5,8127.05 %5,8257.17 %
  Commercial leases(a)
3,1154.81 %2,5604.28 %
Total commercial loans and leases75,1036.22 %72,5516.88 %
  Residential mortgage loans18,0683.97 %17,3163.60 %
  Home equity4,3037.49 %3,9318.33 %
  Indirect secured consumer loans16,8645.60 %15,2735.06 %
  Credit card1,64314.54 %1,75113.30 %
  Solar energy installation loans4,2458.06 %3,8558.07 %
  Other consumer loans2,4909.23 %2,8149.06 %
Total consumer loans47,6135.87 %44,9405.61 %
Total loans and leases122,7166.08 %117,4916.40 %
Securities:
  Taxable securities55,0503.27 %55,1283.27 %
  Tax exempt securities(a)
1,3703.19 %1,4033.27 %
Other short-term investments13,6094.60 %20,9025.62 %
Total interest-earning assets192,7455.15 %194,9245.41 %
Cash and due from banks2,4132,690
Other assets17,76617,544
Allowance for loan and lease losses(2,368)(2,319)
Total Assets$210,556$212,839
Liabilities
Interest-bearing liabilities:
  Interest checking deposits$57,3462.69 %$58,4893.39 %
  Savings deposits17,0940.51 %17,9270.68 %
  Money market deposits36,3742.41 %35,0502.96 %
  CDs $250,000 or less10,4383.53 %10,5054.18 %
Total interest-bearing core deposits121,2522.37 %121,9712.93 %
  CDs over $250,0002,2734.26 %5,1345.19 %
Total interest-bearing deposits123,5252.41 %127,1053.02 %
  Federal funds purchased2004.38 %2165.41 %
  Securities sold under repurchase agreements3201.05 %3691.90 %
  FHLB advances4,8724.60 %3,1385.71 %
  Derivative collateral and other secured borrowings866.02 %567.05 %
  Long-term debt14,5925.37 %15,5635.74 %
Total interest-bearing liabilities143,5952.79 %146,4473.37 %
Demand deposits40,33940,552
Other liabilities6,2857,123
Total Liabilities190,219194,122
Total Equity20,33718,717
Total Liabilities and Equity$210,556$212,839
Ratios:
  Net interest margin (FTE)(b)
3.08 %2.87 %
  Net interest rate spread (FTE)(b)
2.36 %2.04 %
  Interest-bearing liabilities to interest-earning assets74.50 %75.13 %
(a) Average Yield/Rate of these assets are presented on an FTE basis.
(b) Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.

21

Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millionsFor the Three Months Ended
(unaudited)JuneMarchDecemberSeptemberJune
20252025202420242024
Average Portfolio Loans and Leases
Commercial loans and leases:
  Commercial and industrial loans$54,075$53,401$51,567$51,615$52,357
  Commercial mortgage loans12,41012,36811,79211,48811,352
  Commercial construction loans5,8105,7975,7025,9815,917
  Commercial leases3,1203,1102,9022,6852,575
Total commercial loans and leases75,41574,67671,96371,76972,201
Consumer loans:
  Residential mortgage loans17,61517,55217,32217,03117,004
  Home equity4,3834,2224,1254,0183,929
  Indirect secured consumer loans17,24816,47616,10015,68015,373
  Credit card1,6591,6271,6681,7081,728
  Solar energy installation loans4,2684,2214,1373,9903,916
  Other consumer loans2,4832,4982,5452,6302,740
Total consumer loans47,65646,59645,89745,05744,690
Total average portfolio loans and leases$123,071$121,272$117,860$116,826$116,891
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale$45$64$48$16$33
Consumer loans held for sale541428584573359
Average loans and leases held for sale$586$492$632$589$392
End of Period Portfolio Loans and Leases
Commercial loans and leases:
  Commercial and industrial loans$53,312$53,700$52,271$50,916$51,840
  Commercial mortgage loans12,11212,35712,24611,39411,429
  Commercial construction loans5,5515,9525,5885,9475,806
  Commercial leases3,1773,1283,1882,8732,708
Total commercial loans and leases74,15275,13773,29371,13071,783
Consumer loans:
  Residential mortgage loans17,68117,58117,54317,16617,040
  Home equity4,4854,2654,1884,0743,969
  Indirect secured consumer loans17,59116,80416,31315,94215,442
  Credit card1,7071,6601,7341,7031,733
  Solar energy installation loans4,3164,2624,2024,0783,951
  Other consumer loans2,4642,4822,5182,5752,661
Total consumer loans48,24447,05446,49845,53844,796
Total portfolio loans and leases$122,396$122,191$119,791$116,668$116,579
End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale$74$28$66$100$25
Consumer loans held for sale572445574512512
Loans and leases held for sale$646$473$640$612$537
Operating lease equipment$344$314$319$357$392
Loans and Leases Serviced for Others(a)
Commercial and industrial loans$1,166$1,104$1,071$1,178$1,201
Commercial mortgage loans601603579515616
Commercial construction loans333367348342309
Commercial leases757755725773730
Residential mortgage loans91,20192,76994,22595,80897,280
Solar energy installation loans557575593610625
Other consumer loans105112119126133
Total loans and leases serviced for others94,72096,28597,66099,352100,894
Total loans and leases owned or serviced$218,106$219,263$218,410$216,989$218,402
(a)Fifth Third sells certain loans and leases and obtains servicing responsibilities.
22

Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millionsAs of
(unaudited)JuneMarchDecemberSeptemberJune
2025(a)
2025202420242024
Regulatory Capital(b)
CET1 capital$17,616$17,239$17,339$17,272$17,160
Additional tier 1 capital2,1162,1162,1162,1162,116
Tier 1 capital19,73219,35519,45519,38819,276
Tier 2 capital3,2003,1753,2913,3033,275
Total regulatory capital$22,932$22,530$22,746$22,691$22,551
Risk-weighted assets
$166,810$165,326$164,102$160,604$161,636
Ratios
Average total Bancorp shareholders' equity as a percent of average assets
9.82 %9.50 %9.40 %9.47 %8.80 %
Regulatory Capital Ratios(b)
Fifth Third Bancorp
CET1 capital
10.56 %10.43 %10.57 %10.75 %10.62 %
Tier 1 risk-based capital
11.83 %11.71 %11.86 %12.07 %11.93 %
Total risk-based capital
13.75 %13.63 %13.86 %14.13 %13.95 %
Leverage9.42 %9.23 %9.22 %9.11 %9.07 %
Fifth Third Bank, National Association
Tier 1 risk-based capital
12.85 %12.78 %12.86 %12.99 %12.81 %
Total risk-based capital
14.09 %14.02 %14.19 %14.32 %14.14 %
Leverage10.26 %10.10 %10.02 %9.82 %9.76 %
(a)Current period regulatory capital data and ratios are estimated.
(b)Regulatory capital ratios as of December 31, 2024, September 30, 2024 and June 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.
23


Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millionsFor the Three Months Ended
(unaudited)JuneMarchDecemberSeptemberJune
20252025202420242024
Average portfolio loans and leases:
  Commercial and industrial loans$54,075$53,401$51,567$51,615$52,357
  Commercial mortgage loans12,41012,36811,79211,48811,352
  Commercial construction loans5,8105,7975,7025,9815,917
  Commercial leases3,1203,1102,9022,6852,575
Total commercial loans and leases75,41574,67671,96371,76972,201
  Residential mortgage loans17,61517,55217,32217,03117,004
  Home equity4,3834,2224,1254,0183,929
  Indirect secured consumer loans17,24816,47616,10015,68015,373
  Credit card1,6591,6271,6681,7081,728
  Solar energy installation loans4,2684,2214,1373,9903,916
  Other consumer loans2,4832,4982,5452,6302,740
Total consumer loans47,65646,59645,89745,05744,690
Total average portfolio loans and leases$123,071$121,272$117,860$116,826$116,891
Losses charged-off:
  Commercial and industrial loans($84)($54)($61)($80)($83)
  Commercial mortgage loans(4)(11)———
  Commercial construction loans—————
  Commercial leases(2)(2)(2)——
Total commercial loans and leases(90)(67)(63)(80)(83)
  Residential mortgage loans——(1)—(1)
  Home equity(2)(2)(2)(1)(1)
  Indirect secured consumer loans(33)(36)(39)(35)(31)
  Credit card(20)(22)(21)(21)(22)
  Solar energy installation loans(23)(21)(20)(16)(14)
  Other consumer loans(26)(25)(29)(30)(30)
Total consumer loans(104)(106)(112)(103)(99)
Total losses charged-off($194)($173)($175)($183)($182)
Recoveries of losses previously charged-off:
  Commercial and industrial loans$15$2$6$8$3
  Commercial mortgage loans11———
  Commercial construction loans—————
  Commercial leases3————
Total commercial loans and leases193683
  Residential mortgage loans1—111
  Home equity22212
  Indirect secured consumer loans1715121314
  Credit card55455
  Solar energy installation loans33322
  Other consumer loans89111111
Total consumer loans3634333335
Total recoveries of losses previously charged-off$55$37$39$41$38
Net losses charged-off:
  Commercial and industrial loans($69)($52)($55)($72)($80)
  Commercial mortgage loans(3)(10)———
  Commercial construction loans—————
  Commercial leases1(2)(2)——
Total commercial loans and leases(71)(64)(57)(72)(80)
  Residential mortgage loans1——1—
  Home equity————1
  Indirect secured consumer loans(16)(21)(27)(22)(17)
  Credit card(15)(17)(17)(16)(17)
  Solar energy installation loans(20)(18)(17)(14)(12)
  Other consumer loans(18)(16)(18)(19)(19)
Total consumer loans(68)(72)(79)(70)(64)
Total net losses charged-off($139)($136)($136)($142)($144)
Net losses charged-off as a percent of average portfolio loans and leases (annualized):
  Commercial and industrial loans0.51 %0.39 %0.42 %0.55 %0.61 %
  Commercial mortgage loans0.11 %0.34 %0.01 %— 0.01 %
  Commercial construction loans— — — — — 
  Commercial leases(0.10 %)0.29 %0.32 %(0.01 %)(0.01 %)
Total commercial loans and leases0.38 %0.35 %0.32 %0.40 %0.45 %
  Residential mortgage loans(0.01 %)— (0.01 %)(0.02 %)(0.01 %)
  Home equity0.02 %0.04 %(0.01 %)(0.02 %)(0.05 %)
  Indirect secured consumer loans0.37 %0.53 %0.66 %0.54 %0.46 %
  Credit card3.74 %4.19 %4.00 %3.74 %3.98 %
  Solar energy installation loans1.86 %1.73 %1.64 %1.44 %1.25 %
  Other consumer loans2.49 %2.52 %2.84 %3.00 %2.61 %
Total consumer loans0.56 %0.63 %0.68 %0.62 %0.57 %
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)0.45 %0.46 %0.46 %0.48 %0.49 %
24

Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millionsFor the Three Months Ended
(unaudited)JuneMarchDecemberSeptemberJune
20252025202420242024
Allowance for Credit Losses
Allowance for loan and lease losses, beginning$2,384$2,352$2,305$2,288$2,318
  Total net losses charged-off(139)(136)(136)(142)(144)
Provision for loan and lease losses167168183159114
Allowance for loan and lease losses, ending$2,412$2,384$2,352$2,305$2,288
Reserve for unfunded commitments, beginning$140$134$138$137$154
Provision for (benefit from) the reserve for unfunded commitments66(4)1(17)
Reserve for unfunded commitments, ending$146$140$134$138$137
Components of allowance for credit losses:
  Allowance for loan and lease losses$2,412$2,384$2,352$2,305$2,288
  Reserve for unfunded commitments146140134138137
Total allowance for credit losses$2,558$2,524$2,486$2,443$2,425
As of
JuneMarchDecemberSeptemberJune
20252025202420242024
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
  Commercial and industrial loans$460$537$374$255$234
  Commercial mortgage loans4870797838
  Commercial construction loans——111
  Commercial leases—162—1
  Residential mortgage loans143145137131129
  Home equity7569706761
  Indirect secured consumer loans6560555036
  Credit card2931323131
  Solar energy installation loans2630646466
  Other consumer loans78999
Total nonaccrual portfolio loans and leases853966823686606
Repossessed property899119
OREO2521212828
Total nonperforming portfolio loans and leases and OREO886996853725643
Nonaccrual loans held for sale2721784
Total nonperforming assets$913$1,017$860$733$647
Loans and leases 90 days past due (accrual):
  Commercial and industrial loans$5$2$5$10$3
  Commercial mortgage loans36—31
  Commercial leases——114
Total commercial loans and leases886148
  Residential mortgage loans(c)
88688
  Credit card1817201817
Total consumer loans2625262625
Total loans and leases 90 days past due (accrual)(b)
$34$33$32$40$33
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.45 %0.46 %0.46 %0.48 %0.49 %
Allowance for credit losses:
As a percent of portfolio loans and leases2.09 %2.07 %2.08 %2.09 %2.08 %
   As a percent of nonperforming portfolio loans and leases(a)
300 %261 %302 %356 %400 %
   As a percent of nonperforming portfolio assets(a)
289 %253 %291 %337 %377 %
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)
0.70 %0.79 %0.69 %0.59 %0.52 %
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)
0.72 %0.81 %0.71 %0.62 %0.55 %
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property0.74 %0.83 %0.71 %0.62 %0.55 %
(a) Excludes nonaccrual loans held for sale.
(b) Excludes loans held for sale.
(c) Excludes government guaranteed residential mortgage loans.


25


Use of Non-GAAP Financial Measures
In addition to GAAP measures, management considers various non-GAAP measures when evaluating the performance of the business, including: “net interest income (FTE),” “interest income (FTE),” “net interest margin (FTE),” “net interest rate spread (FTE),” “income before income taxes (FTE),” “tangible net income available to common shareholders,” “average tangible common equity,” “return on average tangible common equity,” “tangible common equity (excluding AOCI),” “tangible common equity (including AOCI),” “tangible equity,” “tangible book value per share,” “tangible book value per share (excluding AOCI),” “adjusted noninterest income,” “noninterest income excluding certain items,” “adjusted noninterest expense,” “noninterest expense excluding certain items,” “pre-provision net revenue,” “adjusted efficiency ratio,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” “adjusted return on average tangible common equity, excluding accumulated other comprehensive income", “adjusted pre-provision net revenue,” “adjusted return on average assets,” “efficiency ratio (FTE),” “total revenue (FTE),” “noninterest income as a percent of total revenue”, and certain ratios derived from these measures. The Bancorp believes these non-GAAP measures provide useful information to investors because these are among the measures used by the Fifth Third management team to evaluate operating performance and to make day-to-day operating decisions.

The FTE basis adjusts for the tax-favored status of income from certain loans and securities held by the Bancorp that are not taxable for federal income tax purposes. The Bancorp believes this presentation to be the preferred industry measurement of net interest income and net interest margin as it provides a relevant comparison between taxable and non-taxable amounts.

The Bancorp believes tangible net income available to common shareholders, average tangible common equity, tangible common equity (excluding AOCI), tangible common equity (including AOCI), tangible equity, tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of the business without the impacts of intangible items, whether acquired or created internally, in a manner comparable to other companies in the industry who present similar measures.

The Bancorp believes noninterest income, noninterest expense, net interest income, net interest margin, pre-provision net revenue, efficiency ratio, noninterest income as a percent of total revenue, return on average common equity, return on average tangible common equity, and return on average assets are important measures that adjust for significant, unusual, or large transactions that may occur in a reporting period which management does not consider indicative of ongoing financial performance and enhances comparability of results with prior periods.

The Bancorp believes noninterest income excluding certain items and noninterest expense excluding certain items are important measures that adjust for certain components that are prone to significant period-to-period changes in order to facilitate the explanation of variances in the noninterest income and noninterest expense line items.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding AOCI), in addition to capital ratios defined by U.S. banking agencies. These calculations are intended to complement the capital ratios defined by U.S. banking agencies for both absolute and comparative purposes. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be non-GAAP financial measures. Management believes that providing the tangible common equity ratio excluding AOCI on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of changes in AOCI, some of which are uncertain; providing the tangible common equity ratio including AOCI enables investors and others to assess the Bancorp’s use of equity if components of AOCI, such as unrealized gains or losses, were to be monetized.

Please note that although non-GAAP financial measures provide useful insight, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.

Please see reconciliations of all historical non-GAAP measures used in this release to the most directly comparable GAAP measures, beginning on the following page.
26

Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ and shares in millionsAs of and For the Three Months Ended
(unaudited)JuneMarchDecemberSeptemberJune
20252025202420242024
Net interest income$1,495$1,437$1,437$1,421$1,387
Add: Taxable equivalent adjustment55666
Net interest income (FTE) (a)1,5001,4421,4431,4271,393
Net interest income (annualized) (b)5,9965,8285,7175,6535,578
Net interest income (FTE) (annualized) (c)6,0165,8485,7415,6775,603
Interest income2,4842,4322,5282,6692,620
Add: Taxable equivalent adjustment55666
Interest income (FTE)2,4892,4372,5342,6752,626
Interest income (FTE) (annualized) (d)9,9839,88310,08110,64210,562
Interest expense (annualized) (e)3,9674,0354,3404,9654,959
Average interest-earning assets (f)192,682192,808193,513195,836194,499
Average interest-bearing liabilities (g)142,913144,285144,771147,092146,361
Net interest margin (b) / (f)3.11 %3.02 %2.95 %2.89 %2.87 %
Net interest margin (FTE) (c) / (f)3.12 %3.03 %2.97 %2.90 %2.88 %
Net interest rate spread (FTE) (d) / (f) - (e) / (g)2.40 %2.33 %2.21 %2.05 %2.04 %
Income before income taxes$808$653$764$728$764
Add: Taxable equivalent adjustment55666
Income before income taxes (FTE)813658770734770
Net income available to common shareholders591478582532561
Add: Intangible amortization, net of tax56777
Tangible net income available to common shareholders (h)596484589539568
Tangible net income available to common shareholders (annualized) (i)2,3911,9632,3432,1442,284
Average Bancorp shareholders’ equity
20,67020,00019,89320,25118,707
Less: Average preferred stock(2,116)(2,116)(2,116)(2,116)(2,116)
Average goodwill(4,918)(4,918)(4,918)(4,918)(4,918)
Average intangible assets(79)(86)(94)(103)(111)
Average tangible common equity, including AOCI (j)13,55712,88012,76513,11411,562
Less:Average AOCI3,9354,3624,2923,9145,278
Average tangible common equity, excluding AOCI (k)17,49217,24217,05717,02816,840
Total Bancorp shareholders’ equity
21,12420,40319,64520,78419,226
Less:Preferred stock(2,116)(2,116)(2,116)(2,116)(2,116)
Goodwill(4,918)(4,918)(4,918)(4,918)(4,918)
Intangible assets(75)(82)(90)(98)(107)
Tangible common equity, including AOCI (l)14,01513,28712,52113,65212,085
Less:AOCI3,5463,8954,6363,4464,901
Tangible common equity, excluding AOCI (m)17,56117,18217,15717,09816,986
Add:Preferred stock2,1162,1162,1162,1162,116
Tangible equity (n)19,67719,29819,27319,21419,102
Total assets209,991212,669212,927214,318213,262
Less:Goodwill(4,918)(4,918)(4,918)(4,918)(4,918)
Intangible assets(75)(82)(90)(98)(107)
Tangible assets, including AOCI (o)204,998207,669207,919209,302208,237
Less:AOCI, before tax4,6665,1255,8684,3626,204
Tangible assets, excluding AOCI (p)$209,664$212,794$213,787$213,664$214,441
Common shares outstanding (q)668667670676681
Tangible equity (n) / (p)9.39 %9.07 %9.02 %8.99 %8.91 %
Tangible common equity (excluding AOCI) (m) / (p)8.38 %8.07 %8.03 %8.00 %7.92 %
Tangible common equity (including AOCI) (l) / (o)6.84 %6.40 %6.02 %6.52 %5.80 %
Tangible book value per share (including AOCI) (l) / (q)$20.98$19.92$18.69$20.20$17.75
Tangible book value per share (excluding AOCI) (m) / (q)$26.29$25.76$25.61$25.29$24.94
27

Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millionsFor the Three Months Ended
(unaudited)JuneMarchJune
202520252024
Net income (r)$628$515$601
Net income (annualized) (s)2,5192,0892,417
Adjustments (pre-tax items)
Valuation of Visa total return swap11823
Severance expense15——
Legal settlements and remediation——18
FDIC special assessment——6
Adjustments, after-tax (t)(a) (b)
121437
Net interest income (FTE) (u)1,5001,4421,393
Legal settlements and remediations——5
Adjusted net interest income (FTE) (v)1,5001,4421,398
Adjusted net interest income (FTE) (annualized) (w)6,0165,8485,623
Noninterest income (x)750694695
Valuation of Visa total return swap11823
Legal settlements and remediations——2
Adjusted noninterest income (y)751712720
Noninterest expense (z)1,2641,3041,221
Severance expense(15)——
Legal settlements and remediation——(11)
FDIC special assessment——(6)
Adjusted noninterest expense (aa)1,2491,3041,204
Adjusted net income (r) + (t)640529638
Adjusted net income (annualized) (ab)2,5672,1452,566
Adjusted tangible net income available to common shareholders (h) + (t)608498605
Adjusted tangible net income available to common shareholders (annualized) (ac)2,4392,0202,433
Average assets (ad)$210,554$210,558$212,475
Return on average tangible common equity (i) / (j)17.6 %15.2 %19.8 %
Return on average tangible common equity excluding AOCI (i) / (k)13.7 %11.4 %13.6 %
Adjusted return on average tangible common equity, including AOCI (ac) / (j)18.0 %15.7 %21.0 %
Adjusted return on average tangible common equity, excluding AOCI (ac) / (k)13.9 %11.7 %14.4 %
Return on average assets (s) / (ad)1.20 %0.99 %1.14 %
Adjusted return on average assets (z) / (ad)1.22 %1.02 %1.21 %
Efficiency ratio (FTE) (z) / [(u) + (x)]56.2 %61.0 %58.5 %
Adjusted efficiency ratio (aa) / [(v) + (y)]55.5 %60.5 %56.8 %
Net interest margin (FTE) (c) / (f)3.12 %3.03 %2.88 %
Adjusted net interest margin (FTE) (w) / (f)3.12 %3.03 %2.89 %
Total revenue (FTE) (u) + (x)$2,250$2,136$2,088
Adjusted total revenue (FTE) (v) + (y)$2,251$2,154$2,118
Pre-provision net revenue (PPNR) (u) + (x) - (z)$986$832$867
Adjusted pre-provision net revenue (PPNR) (v) + (y) - (aa)$1,002$850$914
Totals may not foot due to rounding.
(a) Assumes a 23% tax rate in 2024 and a 24% tax rate in 2025.
(b) A portion of the adjustments related to legal settlements and remediations are not tax-deductible.

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Fifth Third Bancorp and Subsidiaries
Segment Presentation(b)
$ in millions
(unaudited)
For the three months ended June 30, 2025Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$595$1,085$57$(237)$1,500
(Provision for) benefit from credit losses(79)(84)2(12)(173)
Net interest income after (provision for) benefit from credit losses5161,00159(249)1,327
Noninterest income32129310135750
Noninterest expense(453)(646)(95)(70)(1,264)
Income (loss) before income taxes (FTE)(a)
$384$648$65$(284)$813
For the three months ended March 31, 2025Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$552$975$49$(134)$1,442
Provision for credit losses(80)(84)—(10)(174)
Net interest income after provision for credit losses47289149(144)1,268
Noninterest income3012811093694
Noninterest expense(511)(650)(106)(37)(1,304)
Income (loss) before income taxes (FTE)(a)
$262$522$52$(178)$658
For the three months ended December 31, 2024
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$598$984$48$(187)$1,443
Provision for credit losses(21)(89)—(69)(179)
Net interest income after provision for credit losses57789548(256)1,264
Noninterest income373278103(22)732
Noninterest expense(452)(617)(94)(63)(1,226)
Income (loss) before income taxes (FTE)(a)
$498$556$57$(341)$770
For the three months ended September 30, 2024
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$648$1,056$50$(327)$1,427
Provision for credit losses(76)(78)—(6)(160)
Net interest income after provision for credit losses57297850(333)1,267
Noninterest income35428399(25)711
Noninterest expense(460)(614)(95)(75)(1,244)
Income (loss) before income taxes (FTE)(a)
$466$647$54$(433)$734
For the three months ended June 30, 2024
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$634$1,081$54$(376)$1,393
(Provision for) benefit from credit losses(137)(70)—110(97)
Net interest income after (provision for) benefit from credit losses4971,01154(266)1,296
Noninterest income320275982695
Noninterest expense(445)(638)(93)(45)(1,221)
Income (loss) before income taxes (FTE)(a)
$372$648$59$(309)$770
(a) Includes taxable equivalent adjustments of $5 million for the three months ended June 30, 2025 and March 31, 2025 and $6 million for the three months ended December 31, 2024, September 30, 2024 and June 30, 2024.
(b) During the first quarter of 2025, the Bancorp realigned its reporting structure and moved certain business banking customer relationships and relationship management personnel to the Consumer and Small Business Banking segment from the Commercial Banking segment. Prior period results have been adjusted to reflect current presentation.
29