FIFTH THIRD BANCORP

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

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.

Jun 30, 2024 · Filed Aug 6, 2024

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

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Contents

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 endedJune 30,		For the six months endedJune 30,
($ in millions, except share data)	2024	2023	2024	2023
Interest Income
Interest and fees on loans and leases	$1,871	1,831	3,731	3,545
Interest on securities	458	437	913	876
Interest on other short-term investments	291	102	584	162
Total interest income	2,620	2,370	5,228	4,583
Interest Expense
Interest on deposits	958	655	1,912	1,133
Interest on federal funds purchased	3	5	6	10
Interest on other short-term borrowings	48	90	95	147
Interest on long-term debt	224	163	444	319
Total interest expense	1,233	913	2,457	1,609
Net Interest Income	1,387	1,457	2,771	2,974
Provision for credit losses	97	177	191	341
Net Interest Income After Provision for Credit Losses	1,290	1,280	2,580	2,633
Noninterest Income
Wealth and asset management revenue	159	143	320	289
Service charges on deposits	156	144	306	281
Commercial banking revenue	144	146	288	307
Card and processing revenue	108	106	210	206
Mortgage banking net revenue	50	59	104	127
Leasing business revenue	38	47	77	104
Other noninterest income	37	74	88	97
Securities gains, net	3	7	13	11
Total noninterest income	695	726	1,406	1,422
Noninterest Expense
Compensation and benefits	656	650	1,409	1,407
Technology and communications	114	114	231	232
Net occupancy expense	83	83	170	164
Equipment expense	38	36	76	73
Marketing expense	34	31	66	60
Leasing business expense	22	31	48	65
Card and processing expense	21	20	41	42
Other noninterest expense	253	266	521	519
Total noninterest expense	1,221	1,231	2,562	2,562
Income Before Income Taxes	764	775	1,424	1,493
Applicable income tax expense	163	174	302	334
Net Income	601	601	1,122	1,159
Dividends on preferred stock	40	39	81	62
Net Income Available to Common Shareholders	$561	562	1,041	1,097
Earnings per share - basic	$0.82	0.82	1.52	1.60
Earnings per share - diluted	$0.81	0.82	1.51	1.59
Average common shares outstanding - basic	686,781,201	684,028,603	686,265,437	684,023,063
Average common shares outstanding - diluted	691,082,792	686,385,938	690,858,162	687,967,395

ContentsView on SEC.gov

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