Fifth Third Bancorp Reports Fourth Quarter 2025 Diluted Earnings Per Share of $1.04

CINCINNATI--( BUSINESS WIRE)--Fifth Third Bancorp (NASDAQ: FITB):

Key Financial Data

Key Highlights

$ in millions for all balance sheet and income statement items

4Q25

3Q25

4Q24

Stability:

Profitability:

Growth:

Income Statement Data

Net income available to common shareholders

$699

$608

$582

Net interest income (U.S. GAAP)

1,529

1,520

1,437

Net interest income (FTE) (a)

1,533

1,525

1,443

Noninterest income

811

781

732

Noninterest expense

1,309

1,267

1,226

Per Share Data

Earnings per share, basic

$1.05

$0.91

$0.86

Earnings per share, diluted

1.04

0.91

0.85

Book value per share

30.18

29.26

26.17

Tangible book value per share (a)

22.60

21.66

18.69

Balance Sheet & Credit Quality

Average portfolio loans and leases

$123,430

$123,326

$117,860

Average deposits

168,384

164,754

167,237

Accumulated other comprehensive loss

(3,110)

(3,276)

(4,636)

Net charge-off ratio (b)

0.40

%

1.09

%

0.46

%

Nonperforming asset ratio (c)

0.65

0.65

0.71

Financial Ratios

Return on average assets

1.36

%

1.21

%

1.17

%

Return on average common equity

14.0

12.6

13.0

Return on average tangible common equity (a)

19.0

17.3

18.4

CET1 capital (d)(e)

10.77

10.57

10.57

Net interest margin (a)

3.13

3.13

2.97

Efficiency (a)

55.8

54.9

56.4

Other than the Quarterly Financial Review tables beginning on page 14, 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 delivered strong operating results in the fourth quarter and for the full year. In 2025, we produced record NII, generated profitable relationship growth and diligently managed our expenses, generating 230 bps of positive operating leverage. Our strong profitability allowed us to return $1.6 billion of capital to our shareholders while maintaining strong capital ratios and increasing tangible book value per share 21% compared to last year.

Our consistent investment and focus on growth priorities continue to drive strong results. In 2025, we opened 50 branches in our high-growth Southeast markets and grew consumer households by 2.5%. We generated record quarterly revenue in our Wealth & Asset Management business, and assets under management increased 16% year-over-year to $80 billion.

Years of disciplined execution on strategic initiatives have positioned us to deliver sustained profitability as we integrate Comerica. With shareholder and regulatory approvals secured, we expect the transaction to close on February 1, 2026. We remain confident in our ability to achieve the expected financial synergies from the pending acquisition, and the result will be a Fifth Third that is better and not just bigger.

Income Statement Highlights

($ in millions, except per share data)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Condensed Statements of Income

Net interest income (NII) (a)

$1,533

$1,525

$1,443

1%

6%

Provision for credit losses

119

197

179

(40)%

(34)%

Noninterest income

811

781

732

4%

11%

Noninterest expense

1,309

1,267

1,226

3%

7%

Income before income taxes (a)

$916

$842

$770

9%

19%

Taxable equivalent adjustment

$4

$5

$6

(20)%

(33)%

Applicable income tax expense

181

188

144

(4)%

26%

Net income

$731

$649

$620

13%

18%

Dividends on preferred stock

32

41

38

(22)%

(16)%

Net income available to common shareholders

$699

$608

$582

15%

20%

Earnings per share, diluted

$1.04

$0.91

$0.85

14%

22%

Fifth Third Bancorp (NASDAQ ®: FITB) today reported fourth quarter 2025 net income available to common shareholders of $699 million, or $1.04 per diluted share, compared to $608 million, or $0.91 per diluted share, in the prior quarter and $582 million, or $0.85 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 4Q25

(after-tax impact; $ in millions, except per share data)

Fifth Third Foundation contribution (f)

$(38)

Merger-related expenses (f)1

(13)

Interchange litigation matters (f)2

(8)

Benefit related to the resolution of certain tax matters

7

Litigation settlements (noninterest income) (f)

9

FDIC special assessment (noninterest expense) (f)

19

After-tax impact of certain item(s)

$(24)

Diluted earnings per share impact of certain item(s) 3

$(0.04)

Totals may not foot due to rounding; 1A portion of the adjustments related to merger-related expenses are not tax-deductible; 2Interchange litigation matters decreased noninterest income by $8 million and increased noninterest expense by $3 million; 3Diluted earnings per share impact reflects 669.153 million average diluted shares outstanding

Full year 2025 net income available to common shareholders was $2.4 billion, or $3.53 per diluted share, compared to full year 2024 net income available to common shareholders of $2.2 billion, or $3.14 per diluted share.

Net Interest Income

(FTE; $ in millions) (a)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Interest Income

Interest income

$

2,472

$

2,524

$

2,534

(2

)%

(2

)%

Interest expense

939

999

1,091

(6

)%

(14

)%

Net interest income (NII)

$

1,533

$

1,525

$

1,443

1

%

6

%

Average Yield/Rate Analysis

bps Change

Yield on interest-earning assets

5.05

%

5.18

%

5.21

%

(13

)

(16

)

Rate paid on interest-bearing liabilities

2.60

%

2.77

%

3.00

%

(17

)

(40

)

Ratios

Net interest rate spread

2.45

%

2.41

%

2.21

%

4

24

Net interest margin (NIM)

3.13

%

3.13

%

2.97

%

—

16

Fully taxable-equivalent (FTE) NII of $1.533 billion increased $8 million, or 1%, compared to the prior quarter. This improvement primarily reflects deposit and wholesale funding management actions decreasing the cost of interest-bearing liabilities, partially offset by lower loan yields due to the impact of market rates on floating rate loans. These same factors, coupled with higher average other short-term investments (including interest-bearing cash), contributed to the flat NIM in the quarter.

Compared to the year-ago quarter, NII increased $90 million, or 6%, and NIM increased 16 bps. This improvement was due to the benefits from proactive deposit and wholesale funding management decreasing interest-bearing liabilities costs by 40 bps and the benefit of fixed-rate asset repricing, which combined more than offset the 16 bps decrease in interest-earning asset yields.

Noninterest Income

($ in millions)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Noninterest Income

Wealth and asset management revenue

$185

$181

$163

2%

13%

Commercial payments revenue

167

157

155

6%

8%

Consumer banking revenue

143

144

137

(1)%

4%

Capital markets fees

121

115

123

5%

(2)%

Commercial banking revenue

102

87

109

17%

(6)%

Mortgage banking net revenue

56

58

57

(3)%

(2)%

Other noninterest income (loss)

42

29

(4)

45%

NM

Securities (losses) gains, net

(5)

10

(8)

NM

(38)%

Total noninterest income

$811

$781

$732

4%

11%

Noninterest income of $811 million increased $30 million, or 4%, from the prior quarter and increased $79 million, or 11%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are offset in noninterest expense.

Noninterest Income excluding certain items

($ in millions)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Noninterest Income excluding certain items

Noninterest income (U.S. GAAP)

$811

$781

$732

Interchange litigation matters

8

18

51

Litigation settlements

(12)

—

—

Securities (gains) losses, net

5

(10)

8

Noninterest income excluding certain items (a)

$812

$789

$791

3%

3%

Noninterest income excluding certain items of $812 million increased $23 million, or 3%, compared to the prior quarter and increased $21 million, or 3%, from the year-ago quarter.

Wealth and asset management revenue increased $4 million, or 2% sequentially, due to an increase in personal asset management revenue. Commercial payments revenue increased $10 million, or 6%, driven by commercial card and Newline revenue. Capital markets fees were up $6 million, or 5%, reflecting seasonal strength in M&A advisory revenue and loan syndications. Commercial banking revenue increased $15 million, or 17%, driven by higher lease syndication and remarketing.

Compared to the year-ago quarter, wealth and asset management revenue increased $22 million, or 13%, with 16% year-over-year AUM growth driving increases in personal asset management revenue and brokerage fees. Commercial payments revenue increased $12 million, or 8%, led by managed services, Newline revenue, and commercial card fees, partially offset by higher earnings credits. Capital markets fees decreased $2 million, or 2%, driven by lower loan syndications revenue, partially offset by higher M&A advisory revenue. Commercial banking revenue decreased $7 million, or 6%, primarily reflecting lower operating lease and other commercial banking revenue.

Noninterest Expense

($ in millions)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Noninterest Expense

Compensation and benefits

$683

$685

$665

—

3%

Technology and communications

138

128

123

8%

12%

Net occupancy expense

89

89

88

—

1%

Equipment expense

43

44

39

(2)%

10%

Loan and lease expense

41

39

36

5%

14%

Marketing expense

37

34

23

9%

61%

Card and processing expense

27

22

21

23%

29%

Other noninterest expense

251

226

231

11%

9%

Total noninterest expense

$1,309

$1,267

$1,226

3%

7%

Noninterest expense of $1.309 billion increased 3% from the prior quarter and increased 7% 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

December

September

December

2025

2025

2024

Seq

Yr/Yr

Noninterest Expense excluding certain item(s)

Noninterest expense (U.S. GAAP)

$1,309

$1,267

$1,226

Fifth Third Foundation contribution

(50)

—

(15)

Merger-related expenses

(13)

—

—

FDIC special assessment

25

6

11

Interchange litigation matters

(3)

(9)

(4)

Noninterest expense excluding certain item(s) (a)

$1,268

$1,264

$1,218

—

4%

Non-qualified deferred compensation (expense)/benefit

5

(11)

7

Noninterest expense excluding certain item(s) and non-qualified deferred compensation (a)

$1,273

$1,253

$1,225

2%

4%

Noninterest expense excluding certain items and non-qualified deferred compensation of $1.273 billion increased 2% compared to the prior quarter with increases in technology and communications and card and processing expense.

Compared to the year-ago quarter, noninterest expense excluding certain items and non-qualified deferred compensation increased $48 million, or 4%, due primarily to increases in compensation and benefits, technology and communications, and marketing expense.

Expenses related to the mark-to-market impact of non-qualified deferred compensation were largely offset in net securities gains/losses through noninterest income in the current and prior periods.

Average Interest-Earning Assets

($ in millions)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Average Portfolio Loans and Leases

Commercial loans and leases:

Commercial and industrial loans

$53,947

$54,170

$51,567

—

5%

Commercial mortgage loans

12,079

12,027

11,792

—

2%

Commercial construction loans

5,399

5,541

5,702

(3)%

(5)%

Commercial leases

3,172

3,177

2,902

—

9%

Total commercial loans and leases

$74,597

$74,915

$71,963

—

4%

Consumer loans:

Residential mortgage loans

$17,660

$17,656

$17,322

—

2%

Home equity

4,769

4,579

4,125

4%

16%

Indirect secured consumer loans

17,879

17,729

16,100

1%

11%

Credit card

1,694

1,678

1,668

1%

2%

Solar energy installation loans

4,486

4,355

4,137

3%

8%

Other consumer loans

2,345

2,414

2,545

(3)%

(8)%

Total consumer loans

$48,833

$48,411

$45,897

1%

6%

Total average portfolio loans and leases

$123,430

$123,326

$117,860

—

5%

Average Loans and Leases Held for Sale

Commercial loans and leases held for sale

$19

$44

$48

(57)%

(60)%

Consumer loans held for sale

698

623

584

12%

20%

Total average loans and leases held for sale

$717

$667

$632

7%

13%

Total average loans and leases

$124,147

$123,993

$118,492

—

5%

Securities (taxable and tax-exempt)

$52,512

$54,592

$56,702

(4)%

(7)%

Other short-term investments

17,485

14,915

18,319

17%

(5)%

Total average interest-earning assets

$194,144

$193,500

$193,513

—

—

Total average portfolio loans and leases of $123 billion and average commercial portfolio loans and leases of $75 billion remained stable compared to the prior quarter. Average consumer portfolio loans of $49 billion increased 1%, driven by continued growth in home equity and indirect secured consumer loans.

Compared to the year-ago quarter, total average portfolio loans and leases increased 5%. Average commercial portfolio loans and leases increased 4%, reflecting increases in C&I loans, commercial mortgage loans, and commercial leases. Average consumer portfolio loans increased 6%, primarily due to increases in indirect secured consumer, home equity, and solar energy installation loans.

Average securities (taxable and tax-exempt; amortized cost) of $53 billion in the current quarter decreased 4% compared to the prior quarter and 7% compared to the year-ago quarter. Average other short-term investments (including interest-bearing cash) of $17 billion in the current quarter increased 17% compared to the prior quarter and decreased 5% compared to the year-ago quarter.

End of Period Interest-Earning Assets

($ in millions)

As of

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

End of Period Portfolio Loans and Leases

Total commercial loans and leases

$73,562

$74,423

$73,293

(1)%

—

Total consumer loans

49,089

48,707

46,498

1%

6%

Total portfolio loans and leases

$122,651

$123,130

$119,791

—

2%

End of Period Loans and Leases Held for Sale

Total loans and leases held for sale

$733

$576

$640

27%

15%

Total loans and leases

$123,384

$123,706

$120,431

—

2%

Securities (taxable and tax-exempt)

$51,961

$52,680

$56,713

(1)%

(8)%

Other short-term investments

18,876

17,215

17,120

10%

10%

Total interest-earning assets

$194,221

$193,601

$194,264

—

—

Period-end commercial portfolio loans and leases of $74 billion decreased 1% compared to the prior quarter as the highest quarterly commercial loan production in over three years was more than offset by the decrease in line utilization. Compared to the year-ago quarter, period-end commercial portfolio loans and leases remained stable.

Period-end consumer portfolio loans of $49 billion increased 1% compared to the prior quarter, primarily reflecting increases in home equity and indirect secured consumer loans. Compared to the year-ago quarter, period-end consumer portfolio loans increased 6% driven by increases in indirect secured consumer and home equity loans.

Total period-end securities (taxable and tax-exempt; amortized cost) of $52 billion in the current quarter decreased 1% compared to the prior quarter and decreased 8% compared to the year-ago quarter. Period-end other short-term investments of approximately $19 billion increased 10% compared to the prior and year-ago quarters.

Average Deposits

($ in millions)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Average Deposits

Demand

$41,771

$41,235

$40,137

1%

4%

Interest checking

58,612

56,624

59,441

4%

(1)%

Savings

16,103

16,376

17,257

(2)%

(7)%

Money market

39,409

37,434

37,279

5%

6%

Total transaction deposits

$155,895

$151,669

$154,114

3%

1%

CDs $250,000 or less

10,541

10,841

10,592

(3)%

—

Total core deposits

$166,436

$162,510

$164,706

2%

1%

CDs over $250,000 1

1,948

2,244

2,531

(13)%

(23)%

Total average deposits

$168,384

$164,754

$167,237

2%

1%

1CDs over $250,000 includes $0.8BN, $1.0BN, and $1.5BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 12/31/25, 9/30/25, and 12/31/24, respectively.

Total average deposits of $168 billion increased 2% compared to the prior quarter, primarily driven by growth in interest checking, money market and demand deposits, partially offset by declines in CDs $250,000 or less. The growth in demand deposits reflects our strategic focus on enhancing the deposit mix and represents the third consecutive quarter of demand deposit growth. Period-end total deposits of $172 billion increased 3%.

Compared to the year-ago quarter, total average deposits increased 1%, mainly due to increases in money market and demand deposits, partially offset by decreases in savings and interest checking deposits. Period-end total deposits increased 3%.

The period-end portfolio loan-to-core deposit ratio was 72% in the current quarter, compared to 75% in the prior quarter and 73% in the year-ago quarter.

Average Wholesale Funding

($ in millions)

For the Three Months Ended

% Change

December

September

December

2025

2025

2024

Seq

Yr/Yr

Average Wholesale Funding

CDs over $250,000 1

$1,948

$2,244

$2,531

(13)%

(23)%

Federal funds purchased

204

198

223

3%

(9)%

Securities sold under repurchase agreements

365

376

313

(3)%

17%

FHLB advances

2,552

4,920

1,567

(48)%

63%

Derivative collateral and other secured borrowings

84

82

76

2%

11%

Long-term debt

13,700

14,001

15,492

(2)%

(12)%

Total average wholesale funding

$18,853

$21,821

$20,202

(14)%

(7)%

1CDs over $250,000 includes $0.8BN, $1.0BN, and $1.5BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 12/31/25, 9/30/25, and 12/31/24, respectively.

Average wholesale funding of $19 billion decreased 14% compared to the prior quarter, driven by a reduction in FHLB advances and long-term debt. The 7% decrease in average wholesale funding compared to the year-ago quarter was primarily attributable to a decrease in long-term debt and CDs over $250,000, inclusive of brokered deposits, partially offset by an increase in FHLB advances.

Credit Quality Summary

($ in millions)

As of and For the Three Months Ended

December

September

June

March

December

2025

2025

2025

2025

2024

Total nonaccrual portfolio loans and leases (NPLs)

$767

$768

$853

$966

$823

Repossessed property

11

12

8

9

9

OREO

19

21

25

21

21

Total nonperforming portfolio loans and leases and OREO (NPAs)

$797

$801

$886

$996

$853

NPL ratio (g)

0.62%

0.62%

0.70%

0.79%

0.69%

NPA ratio (c)

0.65%

0.65%

0.72%

0.81%

0.71%

Portfolio loans and leases 30-89 days past due (accrual)

$360

$348

$277

$385

$303

Portfolio loans and leases 90 days past due (accrual)

30

29

34

33

32

30-89 days past due as a % of portfolio loans and leases

0.29%

0.28%

0.23%

0.31%

0.25%

90 days past due as a % of portfolio loans and leases

0.02%

0.02%

0.03%

0.03%

0.03%

Allowance for loan and lease losses (ALLL), beginning

$2,265

$2,412

$2,384

$2,352

$2,305

Total net losses charged-off

(125)

(339)

(139)

(136)

(136)

Provision for loan and lease losses

113

192

167

168

183

ALLL, ending

$2,253

$2,265

$2,412

$2,384

$2,352

Reserve for unfunded commitments, beginning

$151

$146

$140

$134

$138

Provision for (benefit from) the reserve for unfunded commitments

6

5

6

6

(4)

Reserve for unfunded commitments, ending

$157

$151

$146

$140

$134

Total allowance for credit losses (ACL)

$2,410

$2,416

$2,558

$2,524

$2,486

ACL ratios:

As a % of portfolio loans and leases

1.96%

1.96%

2.09%

2.07%

2.08%

As a % of nonperforming portfolio loans and leases

314%

314%

300%

261%

302%

As a % of nonperforming portfolio assets

302%

302%

289%

253%

291%

ALLL as a % of portfolio loans and leases

1.84%

1.84%

1.97%

1.95%

1.96%

Total losses charged-off

$(177)

$(382)

$(194)

$(173)

$(175)

Total recoveries of losses previously charged-off

52

43

55

37

39

Total net losses charged-off

$(125)

$(339)

$(139)

$(136)

$(136)

Net charge-off ratio (NCO ratio) (b)

0.40%

1.09%

0.45%

0.46%

0.46%

Commercial NCO ratio

0.27%

1.46%

0.38%

0.35%

0.32%

Consumer NCO ratio

0.59%

0.52%

0.56%

0.63%

0.68%

The provision for credit losses totaled $119 million in the current quarter. The ACL ratio represented 1.96% of total portfolio loans and leases at quarter end, consistent with the prior quarter and down 12 bps from the year-ago quarter. The ACL coverage ratio was unchanged from the prior quarter at 314% of nonperforming portfolio loans and leases and 302% of nonperforming portfolio assets.

Net charge-offs totaled $125 million in the current quarter, down $214 million from the prior quarter and the NCO ratio decreased 69 bps to 0.40%. The third quarter of 2025 net charge-offs included a $178 million fraud-related impairment of a commercial credit. Excluding this credit, net charge-offs were down $36 million, or 12 bps, sequentially. Commercial net charge-offs were $51 million, with a commercial NCO ratio of 0.27%, down 119 bps from the prior quarter. Consumer net charge-offs were $74 million, with a consumer NCO ratio of 0.59%, up 7 bps sequentially, reflecting the seasonal increase in indirect secured net charge-offs.

Compared to the year-ago quarter, net charge-offs decreased $11 million and the NCO ratio decreased 6 bps. The commercial NCO ratio decreased 5 bps, and the consumer NCO ratio decreased 9 bps compared to the prior year.

Nonperforming portfolio loans and leases totaled $767 million in the current quarter, representing an NPL ratio of 0.62%, compared to 0.62% in the prior quarter and 0.69% in the year-ago quarter. Nonperforming portfolio assets totaled $797 million in the current quarter, resulting in an NPA ratio of 0.65%, compared to 0.65% in the prior quarter and 0.71% in the year-ago quarter.

Capital Position

As of and For the Three Months Ended

December

September

June

March

December

2025

2025

2025

2025

2024

Capital Position

Average total Bancorp shareholders' equity as a % of average assets

10.11%

10.02%

9.82%

9.50%

9.40%

Tangible equity (a)

9.28%

9.12%

9.39%

9.07%

9.02%

Tangible common equity (excluding AOCI) (a)

8.46%

8.29%

8.38%

8.07%

8.03%

Tangible common equity (including AOCI) (a)

7.14%

6.89%

6.84%

6.40%

6.02%

Regulatory Capital Ratios (d)(e)

CET1 capital

10.77%

10.57%

10.58%

10.43%

10.57%

Tier 1 risk-based capital

11.82%

11.63%

11.85%

11.71%

11.86%

Total risk-based capital

13.73%

13.54%

13.77%

13.63%

13.86%

Leverage

9.42%

9.24%

9.42%

9.23%

9.22%

CET1 capital ratio of 10.77% increased 20 bps sequentially, primarily reflecting strong earnings that bolstered retained capital. There was no share repurchase activity in the fourth quarter of 2025 due to the pending Comerica acquisition.

Tax Rate

The effective tax rate for the quarter was 19.8% compared with 22.6% in the prior quarter and 18.8% in the year-ago quarter.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 10:00 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 27.

(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 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.

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; (45) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments; and (46) risks relating to the pending merger with Comerica Incorporated, including Fifth Third’s inability to realize the anticipated benefits of the pending merger, the failure to satisfy the closing conditions of the pending merger or an unexpected delay in the closing of the pending merger and the disruption of Fifth Third’s business as a result of the pending merger.

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.

Quarterly Financial Review for December 31, 2025

Table of Contents

Financial Highlights

14-15

Consolidated Statements of Income

16-17

Consolidated Balance Sheets

18-19

Consolidated Statements of Changes in Equity

20

Average Balance Sheets and Yield/Rate Analysis

21-22

Summary of Loans and Leases

23

Regulatory Capital

24

Summary of Credit Loss Experience

25

Asset Quality

26

Non-GAAP Reconciliation

27-29

Segment Presentation

30

Fifth Third Bancorp and Subsidiaries

Financial Highlights

As of and For the

% / bps

% / bps

$ in millions, except per share data

Three Months Ended

Change

Year to Date

Change

(unaudited)

December

September

December

December

December

2025

2025

2024

Seq

Yr/Yr

2025

2024

Yr/Yr

Income Statement Data

Net interest income

$1,529

$1,520

$1,437

1%

6%

$5,982

$5,630

6%

Net interest income (FTE) (a)

1,533

1,525

1,443

1%

6%

6,002

5,654

6%

Noninterest income

811

781

732

4%

11%

3,035

2,849

7%

Total revenue (FTE) (a)

2,344

2,306

2,175

2%

8%

9,037

8,503

6%

Provision for credit losses

119

197

179

(40%)

(34%)

662

530

25%

Noninterest expense

1,309

1,267

1,226

3%

7%

5,144

5,033

2%

Net income

731

649

620

13%

18%

2,522

2,314

9%

Net income available to common shareholders

699

608

582

15%

20%

2,376

2,155

10%

Earnings Per Share Data

Net income allocated to common shareholders

$699

$608

$582

15%

20%

$2,376

$2,155

10%

Average common shares outstanding (in thousands):

Basic

664,384

666,427

675,307

—

(2%)

668,140

682,161

(2%)

Diluted

669,153

670,878

681,456

—

(2%)

672,503

687,301

(2%)

Earnings per share, basic

$1.05

$0.91

$0.86

15%

22%

$3.56

$3.16

13%

Earnings per share, diluted

1.04

0.91

0.85

14%

22%

3.53

3.14

12%

Common Share Data

Cash dividends per common share

$0.40

$0.40

$0.37

—

8%

$1.54

$1.44

7%

Book value per share

30.18

29.26

26.17

3%

15%

30.18

26.17

15%

Market value per share

46.81

44.55

42.28

5%

11%

46.81

42.28

11%

Common shares outstanding (in thousands)

661,198

660,973

669,854

—

(1%)

661,198

669,854

(1%)

Market capitalization

$30,951

$29,446

$28,321

5%

9%

$30,951

$28,321

9%

Financial Ratios

Return on average assets

1.36%

1.21%

1.17%

15

19

1.19%

1.09%

10

Return on average common equity

14.0%

12.6%

13.0%

140

100

12.6%

12.5%

10

Return on average tangible common equity (a)

19.0%

17.3%

18.4%

170

60

17.4%

17.8%

(40)

Noninterest income as a percent of total revenue (a)

35%

34%

34%

100

100

34%

34%

—

Dividend payout

38.1%

44.0%

43.0%

(590)

(490)

43.3%

45.6%

(230)

Average total Bancorp shareholders’ equity as a percent of average assets

10.11%

10.02%

9.40%

9

71

9.86%

9.12%

74

Tangible common equity (a)

8.46%

8.29%

8.03%

17

43

8.46%

8.03%

43

Net interest margin (FTE) (a)

3.13%

3.13%

2.97%

—

16

3.11%

2.90%

21

Efficiency (FTE) (a)

55.8%

54.9%

56.4%

90

(60)

56.9%

59.2%

(230)

Effective tax rate

19.8%

22.6%

18.8%

(280)

100

21.4%

20.6%

80

Credit Quality

Net losses charged-off

$125

$339

$136

(63%)

(8%)

$738

$532

39%

Net losses charged-off as a percent of average portfolio loans and leases (annualized)

0.40%

1.09%

0.46%

(69)

(6)

0.60%

0.45%

15

ALLL as a percent of portfolio loans and leases

1.84%

1.84%

1.96%

—

(12)

1.84%

1.96%

(12)

ACL as a percent of portfolio loans and leases (g)

1.96%

1.96%

2.08%

—

(12)

1.96%

2.08%

(12)

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO

0.65%

0.65%

0.71%

—

(6)

0.65%

0.71%

(6)

Average Balances

Loans and leases, including held for sale

$124,147

$123,993

$118,492

—

5%

$123,399

$117,724

5%

Securities and other short-term investments

69,997

69,507

75,021

1%

(7%)

69,889

77,076

(9%)

Assets

213,021

211,770

211,709

1%

1%

211,483

212,806

(1%)

Transaction deposits (b)

155,895

151,669

154,114

3%

1%

152,479

152,830

—

Core deposits (c)

166,436

162,510

164,706

2%

1%

163,044

163,367

—

Wholesale funding (d)

18,853

21,821

20,202

(14%)

(7%)

21,332

23,135

(8%)

Bancorp shareholders' equity

21,527

21,216

19,893

1%

8%

20,858

19,398

8%

Regulatory Capital Ratios (e)(f)

CET1 capital

10.77%

10.57%

10.57%

20

20

10.77%

10.57%

20

Tier 1 risk-based capital

11.82%

11.63%

11.86%

19

(4)

11.82%

11.86%

(4)

Total risk-based capital

13.73%

13.54%

13.86%

19

(13)

13.73%

13.86%

(13)

Leverage

9.42%

9.24%

9.22%

18

20

9.42%

9.22%

20

Additional Metrics

Banking centers

1,130

1,102

1,089

3%

4%

1,130

1,089

4%

ATMs

2,199

2,184

2,080

1%

6%

2,199

2,080

6%

Full-time equivalent employees

18,676

18,476

18,616

1%

—

18,676

18,616

—

Assets under care ($ in billions) (h)

$690

$681

$634

1%

9%

$690

$634

9%

Assets under management ($ in billions) (h)

80

77

69

4%

16%

80

69

16%

Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.

(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 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.

Financial Highlights

$ in millions, except per share data

As of and For the Three Months Ended

(unaudited)

December

September

June

March

December

2025

2025

2025

2025

2024

Income Statement Data

Net interest income

$1,529

$1,520

$1,495

$1,437

$1,437

Net interest income (FTE) (a)

1,533

1,525

1,500

1,442

1,443

Noninterest income

811

781

750

694

732

Total revenue (FTE) (a)

2,344

2,306

2,250

2,136

2,175

Provision for credit losses

119

197

173

174

179

Noninterest expense

1,309

1,267

1,264

1,304

1,226

Net income

731

649

628

515

620

Net income available to common shareholders

699

608

591

478

582

Earnings Per Share Data

Net income allocated to common shareholders

$699

$608

$591

$478

$582

Average common shares outstanding (in thousands):

Basic

664,384

666,427

670,787

671,052

675,307

Diluted

669,153

670,878

674,034

676,040

681,456

Earnings per share, basic

$1.05

$0.91

$0.88

$0.71

$0.86

Earnings per share, diluted

1.04

0.91

0.88

0.71

0.85

Common Share Data

Cash dividends per common share

$0.40

$0.40

$0.37

$0.37

$0.37

Book value per share

30.18

29.26

28.47

27.41

26.17

Market value per share

46.81

44.55

41.13

39.20

42.28

Common shares outstanding (in thousands)

661,198

660,973

667,710

667,272

669,854

Market capitalization

$30,951

$29,446

$27,463

$26,157

$28,321

Financial Ratios

Return on average assets

1.36%

1.21%

1.20%

0.99%

1.17%

Return on average common equity

14.0%

12.6%

12.8%

10.8%

13.0%

Return on average tangible common equity (a)

19.0%

17.3%

17.6%

15.2%

18.4%

Noninterest income as a percent of total revenue (a)

35%

34%

33%

32%

34%

Dividend payout

38.1%

44.0%

42.0%

52.1%

43.0%

Average total Bancorp shareholders’ equity as a percent of average assets

10.11%

10.02%

9.82%

9.50%

9.40%

Tangible common equity (a)

8.46%

8.29%

8.38%

8.07%

8.03%

Net interest margin (FTE) (a)

3.13%

3.13%

3.12%

3.03%

2.97%

Efficiency (FTE) (a)

55.8%

54.9%

56.2%

61.0%

56.4%

Effective tax rate

19.8%

22.6%

22.2%

21.2%

18.8%

Credit Quality

Net losses charged-off

$125

$339

$139

$136

$136

Net losses charged-off as a percent of average portfolio loans and leases (annualized)

0.40%

1.09%

0.45%

0.46%

0.46%

ALLL as a percent of portfolio loans and leases

1.84%

1.84%

1.97%

1.95%

1.96%

ACL as a percent of portfolio loans and leases (g)

1.96%

1.96%

2.09%

2.07%

2.08%

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO

0.65%

0.65%

0.72%

0.81%

0.71%

Average Balances

Loans and leases, including held for sale

$124,147

$123,993

$123,657

$121,764

$118,492

Securities and other short-term investments

69,997

69,507

69,025

71,044

75,021

Assets

213,021

211,770

210,554

210,558

211,709

Transaction deposits (b)

155,895

151,669

150,881

151,431

154,114

Core deposits (c)

166,436

162,510

161,375

161,811

164,706

Wholesale funding (d)

18,853

21,821

22,423

22,262

20,202

Bancorp shareholders’ equity

21,527

21,216

20,670

20,000

19,893

Regulatory Capital Ratios (e)(f)

CET1 capital

10.77%

10.57%

10.58%

10.43%

10.57%

Tier 1 risk-based capital

11.82%

11.63%

11.85%

11.71%

11.86%

Total risk-based capital

13.73%

13.54%

13.77%

13.63%

13.86%

Leverage

9.42%

9.24%

9.42%

9.23%

9.22%

Additional Metrics

Banking centers

1,130

1,102

1,089

1,084

1,089

ATMs

2,199

2,184

2,170

2,069

2,080

Full-time equivalent employees

18,676

18,476

18,690

18,786

18,616

Assets under care ($ in billions) (h)

$690

$681

$657

$639

$634

Assets under management ($ in billions) (h)

80

77

73

68

69

(a)

Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.

(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 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.

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

For the Three Months Ended

% Change

Year to Date

% Change

(unaudited)

December

September

December

December

December

2025

2025

2024

Seq

Yr/Yr

2025

2024

Yr/Yr

Interest Income

Interest and fees on loans and leases

$1,862

$1,909

$1,836

(2%)

1%

$7,466

$7,477

—

Interest on securities

431

444

464

(3%)

(7%)

1,785

1,839

(3%)

Interest on other short-term investments

175

166

228

5%

(23%)

652

1,110

(41%)

Total interest income

2,468

2,519

2,528

(2%)

(2%)

9,903

10,426

(5%)

Interest Expense

Interest on deposits

726

750

856

(3%)

(15%)

2,952

3,736

(21%)

Interest on short-term borrowings (a)

34

61

25

(44%)

36%

215

168

28%

Interest on long-term debt

179

188

210

(5%)

(15%)

754

892

(15%)

Total interest expense

939

999

1,091

(6%)

(14%)

3,921

4,796

(18%)

Net Interest Income

1,529

1,520

1,437

1%

6%

5,982

5,630

6%

Provision for credit losses

119

197

179

(40%)

(34%)

662

530

25%

Net Interest Income After Provision for Credit Losses

1,410

1,323

1,258

7%

12%

5,320

5,100

4%

Noninterest Income

Wealth and asset management revenue

185

181

163

2%

13%

704

647

9%

Commercial payments revenue

167

157

155

6%

8%

630

608

4%

Consumer banking revenue

143

144

137

(1%)

4%

571

555

3%

Capital markets fees

121

115

123

5%

(2%)

415

424

(2%)

Commercial banking revenue

102

87

109

17%

(6%)

349

377

(7%)

Mortgage banking net revenue

56

58

57

(3%)

(2%)

227

211

8%

Other noninterest income (loss)

42

29

(4)

45%

NM

126

12

950%

Securities gains (losses), net

(5)

10

(8)

NM

(38%)

13

15

(13%)

Total noninterest income

811

781

732

4%

11%

3,035

2,849

7%

Noninterest Expense

Compensation and benefits

683

685

665

—

3%

2,815

2,763

2%

Technology and communications

138

128

123

8%

12%

516

474

9%

Net occupancy expense

89

89

88

—

1%

349

339

3%

Equipment expense

43

44

39

(2%)

10%

169

153

10%

Loan and lease expense

41

39

36

5%

14%

146

132

11%

Marketing expense

37

34

23

9%

61%

142

115

23%

Card and processing expense

27

22

21

23%

29%

92

84

10%

Other noninterest expense

251

226

231

11%

9%

915

973

(6%)

Total noninterest expense

1,309

1,267

1,226

3%

7%

5,144

5,033

2%

Income Before Income Taxes

912

837

764

9%

19%

3,211

2,916

10%

Applicable income tax expense

181

188

144

(4%)

26%

689

602

14%

Net Income

731

649

620

13%

18%

2,522

2,314

9%

Dividends on preferred stock

32

41

38

(22%)

(16%)

146

159

(8%)

Net Income Available to Common Shareholders

$699

$608

$582

15%

20%

$2,376

$2,155

10%

(a)

Effective December 31, 2025, interest on federal funds purchased and interest on other short-term borrowings are included in interest on short-term borrowings. Prior periods have been adjusted to conform to current period presentation.

Consolidated Statements of Income

$ in millions

For the Three Months Ended

(unaudited)

December

September

June

March

December

2025

2025

2025

2025

2024

Interest Income

Interest and fees on loans and leases

$1,862

$1,909

$1,881

$1,816

$1,836

Interest on securities

431

444

458

451

464

Interest on other short-term investments

175

166

145

165

228

Total interest income

2,468

2,519

2,484

2,432

2,528

Interest Expense

Interest on deposits

726

750

732

743

856

Interest on short-term borrowings (a)

34

61

61

58

25

Interest on long-term debt

179

188

196

194

210

Total interest expense

939

999

989

995

1,091

Net Interest Income

1,529

1,520

1,495

1,437

1,437

Provision for credit losses

119

197

173

174

179

Net Interest Income After Provision for Credit Losses

1,410

1,323

1,322

1,263

1,258

Noninterest Income

Wealth and asset management revenue

185

181

166

172

163

Commercial payments revenue

167

157

152

153

155

Consumer banking revenue

143

144

147

137

137

Capital markets fees

121

115

90

90

123

Commercial banking revenue

102

87

79

80

109

Mortgage banking net revenue

56

58

56

57

57

Other noninterest income (loss)

42

29

44

14

(4)

Securities (losses) gains, net

(5)

10

16

(9)

(8)

Total noninterest income

811

781

750

694

732

Noninterest Expense

Compensation and benefits

683

685

698

750

665

Technology and communications

138

128

126

123

123

Net occupancy expense

89

89

83

87

88

Equipment expense

43

44

41

42

39

Loan and lease expense

41

39

36

30

36

Marketing expense

37

34

43

28

23

Card and processing expense

27

22

22

21

21

Other noninterest expense

251

226

215

223

231

Total noninterest expense

1,309

1,267

1,264

1,304

1,226

Income Before Income Taxes

912

837

808

653

764

Applicable income tax expense

181

188

180

138

144

Net Income

731

649

628

515

620

Dividends on preferred stock

32

41

37

37

38

Net Income Available to Common Shareholders

$699

$608

$591

$478

$582

(a)

Effective December 31, 2025, interest on federal funds purchased and interest on other short-term borrowings are included in interest on short-term borrowings. Prior periods have been adjusted to conform to current period presentation.

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

As of

% Change

(unaudited)

December

September

December

2025

2025

2024

Seq

Yr/Yr

Assets

Cash and due from banks

$3,499

$2,901

$3,014

21%

16%

Other short-term investments

18,876

17,215

17,120

10%

10%

Available-for-sale debt and other securities (a)

36,159

36,461

39,547

(1%)

(9%)

Held-to-maturity securities (b)

11,368

11,498

11,278

(1%)

1%

Trading debt securities

1,057

1,266

1,185

(17%)

(11%)

Equity securities

453

287

341

58%

33%

Loans and leases held for sale

733

576

640

27%

15%

Portfolio loans and leases:

Commercial and industrial loans

52,749

53,947

52,271

(2%)

1%

Commercial mortgage loans

12,228

11,932

12,246

2%

—

Commercial construction loans

5,316

5,326

5,588

—

(5%)

Commercial leases

3,269

3,218

3,188

2%

3%

Total commercial loans and leases

73,562

74,423

73,293

(1%)

—

Residential mortgage loans

17,652

17,644

17,543

—

1%

Home equity

4,846

4,678

4,188

4%

16%

Indirect secured consumer loans

17,964

17,885

16,313

—

10%

Credit card

1,747

1,692

1,734

3%

1%

Solar energy installation loans

4,560

4,432

4,202

3%

9%

Other consumer loans

2,320

2,376

2,518

(2%)

(8%)

Total consumer loans

49,089

48,707

46,498

1%

6%

Portfolio loans and leases

122,651

123,130

119,791

—

2%

Allowance for loan and lease losses

(2,253)

(2,265)

(2,352)

(1%)

(4%)

Portfolio loans and leases, net

120,398

120,865

117,439

—

3%

Bank premises and equipment

2,734

2,655

2,475

3%

10%

Operating lease equipment

374

379

319

(1%)

17%

Goodwill

4,947

4,947

4,918

—

1%

Intangible assets

69

76

90

(9%)

(23%)

Servicing rights

1,598

1,601

1,704

—

(6%)

Other assets

12,111

12,176

12,857

(1%)

(6%)

Total Assets

$214,376

$212,903

$212,927

1%

1%

Liabilities

Deposits:

Demand

$42,647

$41,830

$41,038

2%

4%

Interest checking

61,155

57,239

59,306

7%

3%

Savings

16,155

16,110

17,147

—

(6%)

Money market

39,285

38,748

36,605

1%

7%

CDs $250,000 or less

10,599

10,667

10,798

(1%)

(2%)

CDs over $250,000

1,978

1,975

2,358

—

(16%)

Total deposits

171,819

166,569

167,252

3%

3%

Short-term borrowings (d)

926

5,260

4,654

(82%)

(80%)

Accrued taxes, interest and expenses

2,083

1,943

2,137

7%

(3%)

Other liabilities

4,235

4,347

4,902

(3%)

(14%)

Long-term debt

13,589

13,677

14,337

(1%)

(5%)

Total Liabilities

192,652

191,796

193,282

—

—

Equity

Common stock (c)

2,051

2,051

2,051

—

—

Preferred stock

1,770

1,770

2,116

—

(16%)

Capital surplus

3,831

3,813

3,804

—

1%

Retained earnings

25,488

25,057

24,150

2%

6%

Accumulated other comprehensive loss

(3,110)

(3,276)

(4,636)

(5%)

(33%)

Treasury stock

(8,306)

(8,308)

(7,840)

—

6%

Total Equity

21,724

21,107

19,645

3%

11%

Total Liabilities and Equity

$214,376

$212,903

$212,927

1%

1%

(a) Amortized cost

$39,107

$39,617

$43,878

(1%)

(11%)

(b) Market values

11,404

11,506

10,965

(1%)

4%

(c) Common shares, stated value $2.22 per share (in thousands):

Authorized

2,000,000

2,000,000

2,000,000

—

—

Outstanding, excluding treasury

661,198

660,973

669,854

—

—

Treasury

262,695

262,919

254,039

—

—

(d) Effective December 31, 2025, federal funds purchased and other short-term borrowings are included in short-term borrowings. Prior periods have been adjusted to conform to current period presentation.

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

As of

(unaudited)

December

September

June

March

December

2025

2025

2025

2025

2024

Assets

Cash and due from banks

$3,499

$2,901

$2,972

$3,009

$3,014

Other short-term investments

18,876

17,215

13,043

14,965

17,120

Available-for-sale debt and other securities (a)

36,159

36,461

38,270

39,747

39,547

Held-to-maturity securities (b)

11,368

11,498

11,630

11,185

11,278

Trading debt securities

1,057

1,266

1,324

1,159

1,185

Equity securities

453

287

404

494

341

Loans and leases held for sale

733

576

646

473

640

Portfolio loans and leases:

Commercial and industrial loans

52,749

53,947

53,312

53,700

52,271

Commercial mortgage loans

12,228

11,932

12,112

12,357

12,246

Commercial construction loans

5,316

5,326

5,551

5,952

5,588

Commercial leases

3,269

3,218

3,177

3,128

3,188

Total commercial loans and leases

73,562

74,423

74,152

75,137

73,293

Residential mortgage loans

17,652

17,644

17,681

17,581

17,543

Home equity

4,846

4,678

4,485

4,265

4,188

Indirect secured consumer loans

17,964

17,885

17,591

16,804

16,313

Credit card

1,747

1,692

1,707

1,660

1,734

Solar energy installation loans

4,560

4,432

4,316

4,262

4,202

Other consumer loans

2,320

2,376

2,464

2,482

2,518

Total consumer loans

49,089

48,707

48,244

47,054

46,498

Portfolio loans and leases

122,651

123,130

122,396

122,191

119,791

Allowance for loan and lease losses

(2,253)

(2,265)

(2,412)

(2,384)

(2,352)

Portfolio loans and leases, net

120,398

120,865

119,984

119,807

117,439

Bank premises and equipment

2,734

2,655

2,560

2,506

2,475

Operating lease equipment

374

379

344

314

319

Goodwill

4,947

4,947

4,918

4,918

4,918

Intangible assets

69

76

75

82

90

Servicing rights

1,598

1,601

1,629

1,663

1,704

Other assets

12,111

12,176

12,192

12,347

12,857

Total Assets

$214,376

$212,903

$209,991

$212,669

$212,927

Liabilities

Deposits:

Demand

$42,647

$41,830

$42,174

$40,855

$41,038

Interest checking

61,155

57,239

55,524

58,420

59,306

Savings

16,155

16,110

16,614

17,583

17,147

Money market

39,285

38,748

36,586

36,505

36,605

CDs $250,000 or less

10,599

10,667

10,883

10,248

10,798

CDs over $250,000

1,978

1,975

2,426

1,894

2,358

Total deposits

171,819

166,569

164,207

165,505

167,252

Short-term borrowings (d)

926

5,260

3,571

5,684

4,654

Accrued taxes, interest and expenses

2,083

1,943

1,970

1,722

2,137

Other liabilities

4,235

4,347

4,627

4,816

4,902

Long-term debt

13,589

13,677

14,492

14,539

14,337

Total Liabilities

192,652

191,796

188,867

192,266

193,282

Equity

Common stock (c)

2,051

2,051

2,051

2,051

2,051

Preferred stock

1,770

1,770

2,116

2,116

2,116

Capital surplus

3,831

3,813

3,794

3,773

3,804

Retained earnings

25,488

25,057

24,718

24,377

24,150

Accumulated other comprehensive loss

(3,110)

(3,276)

(3,546)

(3,895)

(4,636)

Treasury stock

(8,306)

(8,308)

(8,009)

(8,019)

(7,840)

Total Equity

21,724

21,107

21,124

20,403

19,645

Total Liabilities and Equity

$214,376

$212,903

$209,991

$212,669

$212,927

(a) Amortized cost

$39,107

$39,617

$41,731

$43,445

$43,878

(b) Market values

11,404

11,506

11,547

11,072

10,965

(c) Common shares, stated value $2.22 per share (in thousands):

Authorized

2,000,000

2,000,000

2,000,000

2,000,000

2,000,000

Outstanding, excluding treasury

661,198

660,973

667,710

667,272

669,854

Treasury

262,695

262,919

256,183

256,621

254,039

(d) Effective December 31, 2025, federal funds purchased and other short-term borrowings are included in short-term borrowings. Prior periods have been adjusted to conform to current period presentation.

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

For the Three Months Ended

Year to Date

December

December

December

December

2025

2024

2025

2024

Total Equity, Beginning

$21,107

$20,784

$19,645

$19,172

Net income

731

620

2,522

2,314

Other comprehensive income, net of tax:

Change in unrealized gains (losses):

Available-for-sale debt securities

159

(747)

1,049

29

Qualifying cash flow hedges

(18)

(468)

379

(282)

Amortization of unrealized losses on securities transferred to held-to-maturity

25

25

97

101

Change in accumulated other comprehensive income related to employee benefit plans

—

—

1

1

Other

—

—

—

2

Comprehensive income

897

(570)

4,048

2,165

Cash dividends declared:

Common stock

(268)

(252)

(1,038)

(992)

Preferred stock

(32)

(38)

(142)

(159)

Impact of stock transactions under stock compensation plans, net

20

24

90

Shares acquired for treasury

—

(303)

(529)

(630)

Redemption of preferred stock

—

—

(350)

—

Impact of cumulative effect of change in accounting principle

—

—

—

(10)

Total Equity, Ending

$21,724

$19,645

$21,724

$19,645

Fifth Third Bancorp and Subsidiaries

Average Balance Sheets and Yield/Rate Analysis

For the Three Months Ended

$ in millions

December

September

December

(unaudited)

2025

2025

2024

Average

Average

Average

Average

Average

Average

Balance

Yield/Rate

Balance

Yield/Rate

Balance

Yield/Rate

Assets

Interest-earning assets:

Loans and leases:

Commercial and industrial loans (a)

$53,960

5.96%

$54,196

6.20%

$51,575

6.65%

Commercial mortgage loans (a)

12,083

5.95%

12,043

6.26%

11,822

5.76%

Commercial construction loans (a)

5,399

6.84%

5,541

7.17%

5,711

6.58%

Commercial leases (a)

3,172

4.68%

3,177

4.70%

2,902

4.62%

Total commercial loans and leases

74,614

5.96%

74,957

6.22%

72,010

6.42%

Residential mortgage loans

18,358

4.01%

18,279

4.03%

17,906

3.80%

Home equity

4,770

7.23%

4,580

7.43%

4,125

7.95%

Indirect secured consumer loans

17,879

5.62%

17,729

5.65%

16,100

5.53%

Credit card

1,695

14.04%

1,678

14.26%

1,668

14.24%

Solar energy installation loans

4,486

9.00%

4,355

8.76%

4,137

7.91%

Other consumer loans

2,345

9.33%

2,415

9.25%

2,546

9.28%

Total consumer loans

49,533

5.94%

49,036

5.96%

46,482

5.81%

Total loans and leases

124,147

5.96%

123,993

6.12%

118,492

6.18%

Securities:

Taxable securities

51,157

3.28%

53,244

3.25%

55,319

3.27%

Tax exempt securities (a)

1,355

3.12%

1,348

3.18%

1,383

3.18%

Other short-term investments

17,485

3.96%

14,915

4.43%

18,319

4.94%

Total interest-earning assets

194,144

5.05%

193,500

5.18%

193,513

5.21%

Cash and due from banks

2,716

2,485

2,664

Other assets

18,425

18,196

17,838

Allowance for loan and lease losses

(2,264)

(2,411)

(2,306)

Total Assets

$213,021

$211,770

$211,709

Liabilities

Interest-bearing liabilities:

Interest checking deposits

$58,612

2.45%

$56,624

2.72%

$59,441

2.98%

Savings deposits

16,103

0.40%

16,376

0.46%

17,257

0.64%

Money market deposits

39,409

2.39%

37,434

2.40%

37,279

2.65%

CDs $250,000 or less

10,541

3.43%

10,841

3.46%

10,592

3.95%

Total interest-bearing core deposits

124,665

2.25%

121,275

2.38%

124,569

2.64%

CDs over $250,000

1,948

3.94%

2,244

4.00%

2,531

4.83%

Total interest-bearing deposits

126,613

2.28%

123,519

2.41%

127,100

2.68%

Federal funds purchased

204

3.92%

198

4.35%

223

4.73%

Securities sold under repurchase agreements

365

1.46%

376

1.65%

313

1.15%

FHLB advances

2,552

4.47%

4,920

4.51%

1,567

4.87%

Derivative collateral and other secured borrowings

84

6.92%

82

6.13%

76

7.68%

Long-term debt

13,700

5.20%

14,001

5.31%

15,492

5.40%

Total interest-bearing liabilities

143,518

2.60%

143,096

2.77%

144,771

3.00%

Demand deposits

41,771

41,235

40,137

Other liabilities

6,205

6,223

6,908

Total Liabilities

191,494

190,554

191,816

Total Equity

21,527

21,216

19,893

Total Liabilities and Equity

$213,021

$211,770

$211,709

Ratios:

Net interest margin (FTE) (b)

3.13%

3.13%

2.97%

Net interest rate spread (FTE) (b)

2.45%

2.41%

2.21%

Interest-bearing liabilities to interest-earning assets

73.92%

73.95%

74.81%

(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 27.

Fifth Third Bancorp and Subsidiaries

Average Balance Sheets and Yield/Rate Analysis

Year to Date

$ in millions

December

December

(unaudited)

2025

2024

Average

Average

Average

Average

Balance

Yield/Rate

Balance

Yield/Rate

Assets

Interest-earning assets:

Loans and leases:

Commercial and industrial loans (a)

$53,927

6.16%

$52,210

7.00%

Commercial mortgage loans (a)

12,232

6.08%

11,501

6.14%

Commercial construction loans (a)

5,639

7.02%

5,835

7.02%

Commercial leases (a)

3,145

4.75%

2,677

4.44%

Total commercial loans and leases

74,943

6.15%

72,223

6.77%

Residential mortgage loans

18,194

4.00%

17,537

3.68%

Home equity

4,491

7.40%

4,002

8.25%

Indirect secured consumer loans

17,338

5.62%

15,583

5.27%

Credit card

1,665

14.34%

1,719

13.70%

Solar energy installation loans

4,333

8.48%

3,960

8.04%

Other consumer loans

2,435

9.26%

2,700

9.19%

Total consumer loans

48,456

5.91%

45,501

5.71%

Total loans and leases

123,399

6.06%

117,724

6.36%

Securities:

Taxable securities

53,613

3.27%

55,227

3.26%

Tax exempt securities (a)

1,361

3.17%

1,392

3.25%

Other short-term investments

14,915

4.37%

20,457

5.43%

Total interest-earning assets

193,288

5.13%

194,800

5.36%

Cash and due from banks

2,508

2,677

Other assets

18,040

17,637

Allowance for loan and lease losses

(2,353)

(2,308)

Total Assets

$211,483

$212,806

Liabilities

Interest-bearing liabilities:

Interest checking deposits

$57,484

2.63%

$58,757

3.28%

Savings deposits

16,663

0.47%

17,594

0.68%

Money market deposits

37,406

2.41%

36,165

2.90%

CDs $250,000 or less

10,565

3.50%

10,537

4.10%

Total interest-bearing core deposits

122,118

2.34%

123,053

2.87%

CDs over $250,000

2,184

4.12%

4,069

5.11%

Total interest-bearing deposits

124,302

2.37%

127,122

2.94%

Federal funds purchased

200

4.26%

207

5.21%

Securities sold under repurchase agreements

345

1.32%

362

1.86%

FHLB advances

4,299

4.56%

2,602

5.56%

Derivative collateral and other secured borrowings

86

6.27%

60

8.92%

Long-term debt

14,218

5.31%

15,835

5.63%

Total interest-bearing liabilities

143,450

2.73%

146,188

3.28%

Demand deposits

40,926

40,314

Other liabilities

6,249

6,906

Total Liabilities

190,625

193,408

Total Equity

20,858

19,398

Total Liabilities and Equity

$211,483

$212,806

Ratios:

Net interest margin (FTE) (b)

3.11%

2.90%

Net interest rate spread (FTE) (b)

2.40%

2.08%

Interest-bearing liabilities to interest-earning assets

74.22%

75.05%

(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 27.

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

For the Three Months Ended

(unaudited)

December

September

June

March

December

2025

2025

2025

2025

2024

Average Portfolio Loans and Leases

Commercial loans and leases:

Commercial and industrial loans

$53,947

$54,170

$54,075

$53,401

$51,567

Commercial mortgage loans

12,079

12,027

12,410

12,368

11,792

Commercial construction loans

5,399

5,541

5,810

5,797

5,702

Commercial leases

3,172

3,177

3,120

3,110

2,902

Total commercial loans and leases

74,597

74,915

75,415

74,676

71,963

Consumer loans:

Residential mortgage loans

17,660

17,656

17,615

17,552

17,322

Home equity

4,769

4,579

4,383

4,222

4,125

Indirect secured consumer loans

17,879

17,729

17,248

16,476

16,100

Credit card

1,694

1,678

1,659

1,627

1,668

Solar energy installation loans

4,486

4,355

4,268

4,221

4,137

Other consumer loans

2,345

2,414

2,483

2,498

2,545

Total consumer loans

48,833

48,411

47,656

46,596

45,897

Total average portfolio loans and leases

$123,430

$123,326

$123,071

$121,272

$117,860

Average Loans and Leases Held for Sale

Commercial loans and leases held for sale

$19

$44

$45

$64

$48

Consumer loans held for sale

698

623

541

428

584

Average loans and leases held for sale

$717

$667

$586

$492

$632

End of Period Portfolio Loans and Leases

Commercial loans and leases:

Commercial and industrial loans

$52,749

$53,947

$53,312

$53,700

$52,271

Commercial mortgage loans

12,228

11,932

12,112

12,357

12,246

Commercial construction loans

5,316

5,326

5,551

5,952

5,588

Commercial leases

3,269

3,218

3,177

3,128

3,188

Total commercial loans and leases

73,562

74,423

74,152

75,137

73,293

Consumer loans:

Residential mortgage loans

17,652

17,644

17,681

17,581

17,543

Home equity

4,846

4,678

4,485

4,265

4,188

Indirect secured consumer loans

17,964

17,885

17,591

16,804

16,313

Credit card

1,747

1,692

1,707

1,660

1,734

Solar energy installation loans

4,560

4,432

4,316

4,262

4,202

Other consumer loans

2,320

2,376

2,464

2,482

2,518

Total consumer loans

49,089

48,707

48,244

47,054

46,498

Total portfolio loans and leases

$122,651

$123,130

$122,396

$122,191

$119,791

End of Period Loans and Leases Held for Sale

Commercial loans and leases held for sale

$75

$8

$74

$28

$66

Consumer loans held for sale

658

568

572

445

574

Loans and leases held for sale

$733

$576

$646

$473

$640

Operating lease equipment

$374

$379

$344

$314

$319

Loans and Leases Serviced for Others (a)

Commercial and industrial loans

$1,290

$1,206

$1,166

$1,104

$1,071

Commercial mortgage loans

501

558

601

603

579

Commercial construction loans

291

304

333

367

348

Commercial leases

853

764

757

755

725

Residential mortgage loans

87,827

89,639

91,201

92,769

94,225

Solar energy installation loans

686

692

557

575

593

Other consumer loans

92

98

105

112

119

Total loans and leases serviced for others

91,540

93,261

94,720

96,285

97,660

Total loans and leases owned or serviced

$215,298

$217,346

$218,106

$219,263

$218,410

(a)

Fifth Third sells certain loans and leases and obtains servicing responsibilities.

Fifth Third Bancorp and Subsidiaries

Regulatory Capital

$ in millions

As of

(unaudited)

December

September

June

March

December

2025 (a)

2025

2025

2025

2024

Regulatory Capital (b)

CET1 capital

$18,101

$17,645

$17,616

$17,239

$17,339

Additional tier 1 capital

1,770

1,770

2,116

2,116

2,116

Tier 1 capital

19,871

19,415

19,732

19,355

19,455

Tier 2 capital

3,204

3,204

3,197

3,175

3,291

Total regulatory capital

$23,075

$22,619

$22,929

$22,530

$22,746

Risk-weighted assets

$168,121

$166,999

$166,517

$165,326

$164,102

Ratios

Average total Bancorp shareholders' equity as a percent of average assets

10.11%

10.02%

9.82%

9.50%

9.40%

Regulatory Capital Ratios (b)

Fifth Third Bancorp

CET1 capital

10.77%

10.57%

10.58%

10.43%

10.57%

Tier 1 risk-based capital

11.82%

11.63%

11.85%

11.71%

11.86%

Total risk-based capital

13.73%

13.54%

13.77%

13.63%

13.86%

Leverage

9.42%

9.24%

9.42%

9.23%

9.22%

Fifth Third Bank, National Association

Tier 1 risk-based capital

13.04%

12.95%

12.87%

12.78%

12.86%

Total risk-based capital

14.28%

14.19%

14.12%

14.02%

14.19%

Leverage

10.41%

10.31%

10.25%

10.10%

10.02%

(a)

Current period regulatory capital data and ratios are estimated.

(b)

Regulatory capital ratios as of December 31, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

For the Three Months Ended

(unaudited)

December

September

June

March

December

2025

2025

2025

2025

2024

Average portfolio loans and leases:

Commercial and industrial loans

$53,947

$54,170

$54,075

$53,401

$51,567

Commercial mortgage loans

12,079

12,027

12,410

12,368

11,792

Commercial construction loans

5,399

5,541

5,810

5,797

5,702

Commercial leases

3,172

3,177

3,120

3,110

2,902

Total commercial loans and leases

74,597

74,915

75,415

74,676

71,963

Residential mortgage loans

17,660

17,656

17,615

17,552

17,322

Home equity

4,769

4,579

4,383

4,222

4,125

Indirect secured consumer loans

17,879

17,729

17,248

16,476

16,100

Credit card

1,694

1,678

1,659

1,627

1,668

Solar energy installation loans

4,486

4,355

4,268

4,221

4,137

Other consumer loans

2,345

2,414

2,483

2,498

2,545

Total consumer loans

48,833

48,411

47,656

46,596

45,897

Total average portfolio loans and leases

$123,430

$123,326

$123,071

$121,272

$117,860

Losses charged-off:

Commercial and industrial loans

($61)

($280)

($84)

($54)

($61)

Commercial mortgage loans

(7)

(2)

(4)

(11)

—

Commercial construction loans

—

—

—

—

—

Commercial leases

(1)

—

(2)

(2)

(2)

Total commercial loans and leases

(69)

(282)

(90)

(67)

(63)

Residential mortgage loans

—

—

—

—

(1)

Home equity

(2)

(1)

(2)

(2)

(2)

Indirect secured consumer loans

(41)

(34)

(33)

(36)

(39)

Credit card

(20)

(20)

(20)

(22)

(21)

Solar energy installation loans

(22)

(20)

(23)

(21)

(20)

Other consumer loans

(23)

(25)

(26)

(25)

(29)

Total consumer loans

(108)

(100)

(104)

(106)

(112)

Total losses charged-off

($177)

($382)

($194)

($173)

($175)

Recoveries of losses previously charged-off:

Commercial and industrial loans

$17

$6

$15

$2

$6

Commercial mortgage loans

1

1

1

1

—

Commercial construction loans

—

—

—

—

—

Commercial leases

—

—

3

—

—

Total commercial loans and leases

18

7

19

3

6

Residential mortgage loans

1

1

1

—

1

Home equity

1

2

2

2

2

Indirect secured consumer loans

14

16

17

15

12

Credit card

5

4

5

5

4

Solar energy installation loans

5

4

3

3

3

Other consumer loans

8

9

8

9

11

Total consumer loans

34

36

36

34

33

Total recoveries of losses previously charged-off

$52

$43

$55

$37

$39

Net losses charged-off:

Commercial and industrial loans

($44)

($274)

($69)

($52)

($55)

Commercial mortgage loans

(6)

(1)

(3)

(10)

—

Commercial construction loans

—

—

—

—

—

Commercial leases

(1)

—

1

(2)

(2)

Total commercial loans and leases

(51)

(275)

(71)

(64)

(57)

Residential mortgage loans

1

1

1

—

—

Home equity

(1)

1

—

—

—

Indirect secured consumer loans

(27)

(18)

(16)

(21)

(27)

Credit card

(15)

(16)

(15)

(17)

(17)

Solar energy installation loans

(17)

(16)

(20)

(18)

(17)

Other consumer loans

(15)

(16)

(18)

(16)

(18)

Total consumer loans

(74)

(64)

(68)

(72)

(79)

Total net losses charged-off

($125)

($339)

($139)

($136)

($136)

Net losses charged-off as a percent of average portfolio loans and leases (annualized):

Commercial and industrial loans

0.32%

2.01%

0.51%

0.39%

0.42%

Commercial mortgage loans

0.21%

0.04%

0.11%

0.34%

0.01%

Commercial construction loans

—

—

—

—

—

Commercial leases

0.16%

(0.04%)

(0.10%)

0.29%

0.32%

Total commercial loans and leases

0.27%

1.46%

0.38%

0.35%

0.32%

Residential mortgage loans

(0.01%)

(0.02%)

(0.01%)

—

(0.01%)

Home equity

0.06%

(0.05%)

0.02%

0.04%

(0.01%)

Indirect secured consumer loans

0.59%

0.40%

0.37%

0.53%

0.66%

Credit card

3.62%

3.70%

3.74%

4.19%

4.00%

Solar energy installation loans

1.45%

1.47%

1.86%

1.73%

1.64%

Other consumer loans

2.46%

2.51%

2.49%

2.52%

2.84%

Total consumer loans

0.59%

0.52%

0.56%

0.63%

0.68%

Total net losses charged-off as a percent of average portfolio loans and leases (annualized)

0.40%

1.09%

0.45%

0.46%

0.46%

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

For the Three Months Ended

(unaudited)

December

September

June

March

December

2025

2025

2025

2025

2024

Allowance for Credit Losses

Allowance for loan and lease losses, beginning

$2,265

$2,412

$2,384

$2,352

$2,305

Total net losses charged-off

(125)

(339)

(139)

(136)

(136)

Provision for loan and lease losses

113

192

167

168

183

Allowance for loan and lease losses, ending

$2,253

$2,265

$2,412

$2,384

$2,352

Reserve for unfunded commitments, beginning

$151

$146

$140

$134

$138

Provision for (benefit from) the reserve for unfunded commitments

6

5

6

6

(4)

Reserve for unfunded commitments, ending

$157

$151

$146

$140

$134

Components of allowance for credit losses:

Allowance for loan and lease losses

$2,253

$2,265

$2,412

$2,384

$2,352

Reserve for unfunded commitments

157

151

146

140

134

Total allowance for credit losses

$2,410

$2,416

$2,558

$2,524

$2,486

As of

December

September

June

March

December

2025

2025

2025

2025

2024

Nonperforming Assets and Delinquent Loans

Nonaccrual portfolio loans and leases:

Commercial and industrial loans

$393

$393

$460

$537

$374

Commercial mortgage loans

34

42

48

70

79

Commercial construction loans

—

—

—

—

1

Commercial leases

—

—

—

16

2

Residential mortgage loans

149

142

143

145

137

Home equity

71

72

75

69

70

Indirect secured consumer loans

61

61

65

60

55

Credit card

29

29

29

31

32

Solar energy installation loans

22

22

26

30

64

Other consumer loans

8

7

7

8

9

Total nonaccrual portfolio loans and leases

767

768

853

966

823

Repossessed property

11

12

8

9

9

OREO

19

21

25

21

21

Total nonperforming portfolio loans and leases and OREO

797

801

886

996

853

Nonaccrual loans held for sale

70

4

27

21

7

Total nonperforming assets

$867

$805

$913

$1,017

$860

Loans and leases 90 days past due (accrual):

Commercial and industrial loans

$2

$2

$5

$2

$5

Commercial mortgage loans

—

—

3

6

—

Commercial construction loans

1

—

—

—

—

Commercial leases

—

—

—

—

1

Total commercial loans and leases

3

2

8

8

6

Residential mortgage loans (c)

10

11

8

8

6

Credit card

17

16

18

17

20

Total consumer loans

27

27

26

25

26

Total loans and leases 90 days past due (accrual) (b)

$30

$29

$34

$33

$32

Ratios

Net losses charged-off as a percent of average portfolio loans and leases (annualized)

0.40%

1.09%

0.45%

0.46%

0.46%

Allowance for credit losses:

As a percent of portfolio loans and leases

1.96%

1.96%

2.09%

2.07%

2.08%

As a percent of nonperforming portfolio loans and leases (a)

314%

314%

300%

261%

302%

As a percent of nonperforming portfolio assets (a)

302%

302%

289%

253%

291%

Nonperforming portfolio loans and leases as a percent of portfolio loans and leases (a)

0.62%

0.62%

0.70%

0.79%

0.69%

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO (a)

0.65%

0.65%

0.72%

0.81%

0.71%

Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property

0.70%

0.65%

0.74%

0.83%

0.71%

(a) Excludes nonaccrual loans held for sale.

(b) Excludes loans held for sale.

(c) Excludes government guaranteed residential mortgage loans.

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),” "adjusted total revenue," “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, adjusted total revenue, 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.

Fifth Third Bancorp and Subsidiaries

Non-GAAP Reconciliation

$ and shares in millions

As of and For the Three Months Ended

(unaudited)

December

September

June

March

December

2025

2025

2025

2025

2024

Net interest income

$1,529

$1,520

$1,495

$1,437

$1,437

Add: Taxable equivalent adjustment

4

5

5

5

6

Net interest income (FTE) (a)

1,533

1,525

1,500

1,442

1,443

Net interest income (annualized) (b)

6,066

6,030

5,996

5,828

5,717

Net interest income (FTE) (annualized) (c)

6,082

6,050

6,016

5,848

5,741

Interest income

2,468

2,519

2,484

2,432

2,528

Add: Taxable equivalent adjustment

4

5

5

5

6

Interest income (FTE)

2,472

2,524

2,489

2,437

2,534

Interest income (FTE) (annualized) (d)

9,807

10,014

9,983

9,883

10,081

Interest expense (annualized) (e)

3,725

3,963

3,967

4,035

4,340

Average interest-earning assets (f)

194,144

193,500

192,682

192,808

193,513

Average interest-bearing liabilities (g)

143,518

143,096

142,913

144,285

144,771

Net interest margin (b) / (f)

3.12 %

3.12 %

3.11 %

3.02 %

2.95 %

Net interest margin (FTE) (c) / (f)

3.13 %

3.13 %

3.12 %

3.03 %

2.97 %

Net interest rate spread (FTE) (d) / (f) - (e) / (g)

2.45 %

2.41 %

2.40 %

2.33 %

2.21 %

Income before income taxes

$912

$837

$808

$653

$764

Add: Taxable equivalent adjustment

4

5

5

5

6

Income before income taxes (FTE)

916

842

813

658

770

Net income available to common shareholders

699

608

591

478

582

Add: Intangible amortization, net of tax

5

5

5

6

7

Tangible net income available to common shareholders (h)

704

613

596

484

589

Tangible net income available to common shareholders (annualized) (i)

2,793

2,432

2,391

1,963

2,343

Average Bancorp shareholders’ equity

21,527

21,216

20,670

20,000

19,893

Less: Average preferred stock

(1,770)

(2,112)

(2,116)

(2,116)

(2,116)

Average goodwill

(4,947)

(4,937)

(4,918)

(4,918)

(4,918)

Average intangible assets

(72)

(77)

(79)

(86)

(94)

Average tangible common equity, including AOCI (j)

14,738

14,090

13,557

12,880

12,765

Less: Average AOCI

3,137

3,520

3,935

4,362

4,292

Average tangible common equity, excluding AOCI (k)

17,875

17,610

17,492

17,242

17,057

Total Bancorp shareholders’ equity

21,724

21,107

21,124

20,403

19,645

Less: Preferred stock

(1,770)

(1,770)

(2,116)

(2,116)

(2,116)

Goodwill

(4,947)

(4,947)

(4,918)

(4,918)

(4,918)

Intangible assets

(69)

(76)

(75)

(82)

(90)

Tangible common equity, including AOCI (l)

14,938

14,314

14,015

13,287

12,521

Less: AOCI

3,110

3,276

3,546

3,895

4,636

Tangible common equity, excluding AOCI (m)

18,048

17,590

17,561

17,182

17,157

Add: Preferred stock

1,770

1,770

2,116

2,116

2,116

Tangible equity (n)

19,818

19,360

19,677

19,298

19,273

Total assets

214,376

212,903

209,991

212,669

212,927

Less: Goodwill

(4,947)

(4,947)

(4,918)

(4,918)

(4,918)

Intangible assets

(69)

(76)

(75)

(82)

(90)

Tangible assets, including AOCI (o)

209,360

207,880

204,998

207,669

207,919

Less: AOCI, before tax

4,092

4,311

4,666

5,125

5,868

Tangible assets, excluding AOCI (p)

$213,452

$212,191

$209,664

$212,794

$213,787

Common shares outstanding (q)

661

661

668

667

670

Tangible equity (n) / (p)

9.28%

9.12%

9.39%

9.07%

9.02%

Tangible common equity (excluding AOCI) (m) / (p)

8.46%

8.29%

8.38%

8.07%

8.03%

Tangible common equity (including AOCI) (l) / (o)

7.14%

6.89%

6.84%

6.40%

6.02%

Tangible book value per share (including AOCI) (l) / (q)

$22.60

$21.66

$20.98

$19.92

$18.69

Tangible book value per share (excluding AOCI) (m) / (q)

$27.30

$26.61

$26.29

$25.76

$25.61

Fifth Third Bancorp and Subsidiaries

Non-GAAP Reconciliation

$ in millions

For the Three Months Ended

(unaudited)

December

September

December

2025

2025

2024

Net income (r)

$731

$649

$620

Net income (annualized) (s)

2,900

2,575

2,467

Adjustments (pre-tax items)

Interchange litigation matters

11

27

55

Non-qualified deferred compensation expense/(benefit)

(5)

11

(7)

Securities (gains)/losses

5

(10)

8

Litigation settlements

(12)

—

—

Merger-related expenses

13

—

—

FDIC special assessment

(25)

(6)

(11)

Fifth Third Foundation contribution

50

—

15

Adjustments, after-tax (t) (a)(b)

31

16

47

Adjustments (tax related items)

Benefit related to the resolution of certain tax matters

(7)

—

(15)

Adjustments (tax related items) (u)

(7)

—

(15)

Noninterest income (v)

811

781

732

Interchange litigation matters

8

18

51

Litigation settlements

(12)

—

—

Noninterest income excluding certain item(s)

807

799

783

Securities (gains)/losses

5

(10)

8

Adjusted noninterest income, excluding certain items and securities (gains)/losses (w)

812

789

791

Noninterest expense (x)

1,309

1,267

1,226

Interchange litigation matters

(3)

(9)

(4)

Merger-related expenses

(13)

—

—

FDIC special assessment

25

6

11

Fifth Third Foundation contribution

(50)

—

(15)

Noninterest expense excluding certain item(s)

1,268

1,264

1,218

Non-qualified deferred compensation (expense)/benefit

5

(11)

7

Adjusted noninterest expense, excluding certain items and non-qualified deferred compensation (y)

1,273

1,253

1,225

Adjusted net income (r) + (t) + (u)

755

665

652

Adjusted net income (annualized) (z)

2,995

2,638

2,594

Adjusted tangible net income available to common shareholders (h) + (t) + (u)

728

629

621

Adjusted tangible net income available to common shareholders (annualized) (aa)

2,888

2,495

2,470

Average assets (ab)

$213,021

$211,770

$211,709

Return on average tangible common equity (i) / (j)

19.0%

17.3%

18.4%

Return on average tangible common equity excluding AOCI (i) / (k)

15.6%

13.8%

13.7%

Adjusted return on average tangible common equity, including AOCI (aa) / (j)

19.6%

17.7%

19.3%

Adjusted return on average tangible common equity, excluding AOCI (aa) / (k)

16.2%

14.2%

14.5%

Return on average assets (s) / (ab)

1.36%

1.21%

1.17%

Adjusted return on average assets (z) / (ab)

1.41%

1.25%

1.23%

Efficiency ratio (FTE) (x) / [(a) + (v)]

55.8%

54.9%

56.4%

Adjusted efficiency ratio (y) / [(a) + (w)]

54.3%

54.1%

54.8%

Total revenue (FTE) (a) + (v)

$2,344

$2,306

$2,175

Adjusted total revenue (FTE) (a) + (w)

$2,345

$2,314

$2,234

Pre-provision net revenue (PPNR) (a) + (v) - (x)

$1,035

$1,039

$949

Adjusted pre-provision net revenue (PPNR) (a) + (w) - (y)

$1,072

$1,061

$1,009

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 merger-related expenses are not tax-deductible.

Fifth Third Bancorp and Subsidiaries

Segment Presentation (b)

$ in millions

(unaudited)

For the three months ended December 31, 2025

Commercial

Banking

Consumer and

Small Business

Banking

Wealth

and Asset

Management

General

Corporate

and Other

Total

Net interest income (FTE) (a)

$581

$1,026

$52

$(126)

$1,533

(Provision for) benefit from credit losses

(46)

(84)

—

11

(119)

Net interest income after (provision for) benefit from credit losses

535

942

52

(115)

1,414

Noninterest income

386

311

111

3

811

Noninterest expense

(476)

(645)

(97)

(91)

(1,309)

Income (loss) before income taxes (FTE) (a)

$445

$608

$66

$(203)

$916

For the three months ended September 30, 2025

Commercial

Banking

Consumer and

Small Business

Banking

Wealth

and Asset

Management

General

Corporate

and Other

Total

Net interest income (FTE) (a)

$594

$1,082

$55

$(206)

$1,525

(Provision for) benefit from credit losses

(246)

(73)

—

122

(197)

Net interest income after (provision for) benefit from credit losses

348

1,009

55

(84)

1,328

Noninterest income

357

309

109

6

781

Noninterest expense

(454)

(653)

(93)

(67)

(1,267)

Income (loss) before income taxes (FTE) (a)

$251

$665

$71

$(145)

$842

For the three months ended June 30, 2025

Commercial

Banking

Consumer 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 losses

516

1,001

59

(249)

1,327

Noninterest income

321

293

101

35

750

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, 2025

Commercial

Banking

Consumer 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 losses

472

891

49

(144)

1,268

Noninterest income

301

281

109

3

694

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

Banking

Consumer 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 losses

577

895

48

(256)

1,264

Noninterest income

373

278

103

(22)

732

Noninterest expense

(452)

(617)

(94)

(63)

(1,226)

Income (loss) before income taxes (FTE) (a)

$498

$556

$57

$(341)

$770

(a) Includes taxable equivalent adjustments of $4 million for the three months ended December 31, 2025, $5 million for the three months ended September 30, 2025, June 30, 2025 and March 31, 2025 and $6 million for the three months ended December 31, 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.

Category: Earnings