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Midas Edge

FIFTH THIRD BANCORP

For the period ended Mar 31, 2024. Filed May 7, 2024.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

FITB$54.19-0.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

As of
March 31,December 31,
($ in millions, except share data)20242023
Assets
Cash and due from banks$2,7963,142
Other short-term investments(a)22,84022,082
Available-for-sale debt and other securities(b)38,79150,419
Held-to-maturity securities(c)11,5202
Trading debt securities1,151899
Equity securities380613
Loans and leases held for sale(d)339378
Portfolio loans and leases(a)(e)116,485117,234
Allowance for loan and lease losses(a)(2,318)(2,322)
Portfolio loans and leases, net114,167114,912
Bank premises and equipment(f)2,3762,349
Operating lease equipment427459
Goodwill4,9184,919
Intangible assets115125
Servicing rights1,7561,737
Other assets(a)12,93012,538
Total Assets$214,506214,574
Liabilities
Deposits:
Noninterest-bearing deposits$41,84943,146
Interest-bearing deposits127,738125,766
Total deposits169,587168,912
Federal funds purchased247193
Other short-term borrowings2,8662,861
Accrued taxes, interest and expenses1,9652,195
Other liabilities(a)5,3794,861
Long-term debt(a)15,44416,380
Total Liabilities$195,488195,402
Equity
Common stock(g)$2,0512,051
Preferred stock(h)2,1162,116
Capital surplus3,7423,757
Retained earnings23,22422,997
Accumulated other comprehensive loss(4,888)(4,487)
Treasury stock(g)(7,227)(7,262)
Total Equity$19,01819,172
Total Liabilities and Equity$214,506214,574

(a)Includes $48 and $55 of other short-term investments, $1,420 and $1,573 of portfolio loans and leases, $(26) and $(28) of ALLL, $29 and $10 of other assets, $25 and $14 of other liabilities and $1,274 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2024 and December 31, 2023, respectively. For further information, refer to Note 11.

(b)Amortized cost of $43,400 and $55,789 at March 31, 2024 and December 31, 2023, respectively.

(c)Fair value of $11,341 and $2 at March 31, 2024 and December 31, 2023, respectively.

(d)Includes $307 and $334 of residential mortgage loans held for sale measured at fair value at March 31, 2024 and December 31, 2023, respectively.

(e)Includes $113 and $116 of residential mortgage loans measured at fair value at March 31, 2024 and December 31, 2023, respectively.

(f)Includes $16 and $19 of bank premises and equipment held for sale at March 31, 2024 and December 31, 2023, respectively.

(g)Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at March 31, 2024 –683,812,363 (excludes 240,080,218 treasury shares), December 31, 2023 –681,124,810 (excludes 242,767,771 treasury shares).

(h)500,000 shares of no par value preferred stock were authorized at both March 31, 2024 and December 31, 2023. There were 422,000 unissued shares of undesignated no par value preferred stock at both March 31, 2024 and December 31, 2023. Each issued share of no par value preferred stock has a liquidation preference of $25,000.500,000 shares of no par value Class B preferred stock were authorized at both March 31, 2024 and December 31, 2023. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both March 31, 2024 and December 31, 2023. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.