FIFTH THIRD BANCORP
For the period ended Mar 31, 2024. Filed May 7, 2024.
View on SEC.govAbout 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$54.36+2.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Income (unaudited)
| Fifth Third Bancorp and SubsidiariesCondensed Consolidated Financial Statements and Notes (continued) | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) | ||
| For the three months endedMarch 31, | ||
| ($ in millions, except share data) | 2024 | 2023 |
| Interest Income | ||
| Interest and fees on loans and leases | $1,859 | 1,714 |
| Interest on securities | 455 | 439 |
| Interest on other short-term investments | 294 | 60 |
| Total interest income | 2,608 | 2,213 |
| Interest Expense | ||
| Interest on deposits | 954 | 478 |
| Interest on federal funds purchased | 3 | 5 |
| Interest on other short-term borrowings | 47 | 57 |
| Interest on long-term debt | 220 | 156 |
| Total interest expense | 1,224 | 696 |
| Net Interest Income | 1,384 | 1,517 |
| Provision for credit losses | 94 | 164 |
| Net Interest Income After Provision for Credit Losses | 1,290 | 1,353 |
| Noninterest Income | ||
| Wealth and asset management revenue | 161 | 146 |
| Service charges on deposits | 151 | 137 |
| Commercial banking revenue | 143 | 161 |
| Card and processing revenue | 102 | 100 |
| Mortgage banking net revenue | 54 | 69 |
| Leasing business revenue | 39 | 57 |
| Other noninterest income | 50 | 22 |
| Securities gains, net | 10 | 4 |
| Securities gains, net – non-qualifying hedges on mortgage servicing rights | — | — |
| Total noninterest income | 710 | 696 |
| Noninterest Expense | ||
| Compensation and benefits | 753 | 757 |
| Technology and communications | 117 | 118 |
| Net occupancy expense | 87 | 81 |
| Equipment expense | 37 | 37 |
| Marketing expense | 32 | 29 |
| Leasing business expense | 25 | 34 |
| Card and processing expense | 20 | 22 |
| Other noninterest expense | 271 | 253 |
| Total noninterest expense | 1,342 | 1,331 |
| Income Before Income Taxes | 658 | 718 |
| Applicable income tax expense | 138 | 160 |
| Net Income | 520 | 558 |
| Dividends on preferred stock | 40 | 23 |
| Net Income Available to Common Shareholders | $480 | 535 |
| Earnings per share - basic | $0.70 | 0.78 |
| Earnings per share - diluted | $0.70 | 0.78 |
| Average common shares outstanding - basic | 685,749,673 | 684,017,462 |
| Average common shares outstanding - diluted | 690,633,531 | 689,566,425 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.