FIFTH THIRD BANCORP
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
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Non-GAAP Financial Measures
The following are non-GAAP financial measures which provide useful insight to the reader of the Consolidated Financial Statements but should be supplemental to primary U.S. GAAP measures and should not be read in isolation or relied upon as a substitute for the primary U.S. GAAP measures. The Bancorp encourages readers to consider the Consolidated Financial Statements in their entirety and not to rely on any single financial measure.
The FTE basis adjusts for the tax-favored status of income from certain loans and leases 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 as it provides a relevant comparison between taxable and non-taxable amounts.
The following table reconciles the non-GAAP financial measures of net interest income on an FTE basis, interest income on an FTE basis, net interest margin, net interest rate spread and the efficiency ratio to U.S. GAAP:
| TABLE 2: Non-GAAP Financial Measures - Financial Measures and Ratios on an FTE basis | |||
|---|---|---|---|
| For the years ended December 31 ($ in millions) | 2025 | 2024 | 2023 |
| Net interest income (U.S. GAAP) | $5,982 | 5,630 | 5,827 |
| Add: FTE adjustment | 20 | 24 | 25 |
| Net interest income on an FTE basis (1) | $6,002 | 5,654 | 5,852 |
| Interest income (U.S. GAAP) | $9,903 | 10,426 | 9,760 |
| Add: FTE adjustment | 20 | 24 | 25 |
| Interest income on an FTE basis (2) | $9,923 | 10,450 | 9,785 |
| Interest expense (3) | $3,921 | 4,796 | 3,933 |
| Noninterest income (4) | 3,035 | 2,849 | 2,881 |
| Noninterest expense (5) | 5,144 | 5,033 | 5,205 |
| Average interest-earning assets (6) | 193,288 | 194,800 | 191,743 |
| Average interest-bearing liabilities (7) | 143,450 | 146,188 | 137,592 |
| Ratios: | |||
| Net interest margin on an FTE basis (1) / (6) | 3.11% | 2.90 | 3.05 |
| Net interest rate spread on an FTE basis ((2) / (6)) - ((3) / (7)) | 2.40 | 2.08 | 2.24 |
| Efficiency ratio on an FTE basis (5) / ((1) + (4)) | 56.9 | 59.2 | 59.6 |
The Bancorp believes return on average tangible common equity is an important measure for comparative purposes with other financial institutions, but is not defined under U.S. GAAP, and therefore is considered a non-GAAP financial measure. This measure is useful for evaluating the performance of a business as it calculates the return available to common shareholders without the impact of intangible assets and their related amortization.
The following table reconciles the non-GAAP financial measure of return on average tangible common equity to U.S. GAAP:
| TABLE 3: Non-GAAP Financial Measures - Return on Average Tangible Common Equity | |||
|---|---|---|---|
| For the years ended December 31 ($ in millions) | 2025 | 2024 | 2023 |
| Net income available to common shareholders (U.S. GAAP) | $2,376 | 2,155 | 2,212 |
| Add: Intangible amortization, net of tax | 22 | 28 | 34 |
| Tangible net income available to common shareholders (1) | $2,398 | 2,183 | 2,246 |
| Average Bancorp shareholders’ equity (U.S. GAAP) | $20,858 | 19,398 | 17,704 |
| Less: Average preferred stock | 2,028 | 2,116 | 2,116 |
| Average goodwill | 4,930 | 4,918 | 4,918 |
| Average intangible assets | 79 | 107 | 146 |
| Average tangible common equity (2) | $13,821 | 12,257 | 10,524 |
| Return on average tangible common equity (1) / (2) | 17.4% | 17.8 | 21.3 |
The Bancorp considers various measures when evaluating capital utilization and adequacy, including the tangible equity ratio and tangible common equity ratio, in addition to capital ratios defined by the U.S. banking agencies. These calculations are intended to complement the capital ratios defined by the U.S. banking agencies for both absolute and comparative purposes. As U.S. GAAP does not include capital ratio measures, the Bancorp believes there are no comparable U.S. GAAP financial measures to these ratios. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be non-GAAP financial measures.
52 Fifth Third Bancorp
The following table reconciles non-GAAP capital ratios to U.S. GAAP:
| TABLE 4: Non-GAAP Financial Measures - Capital Ratios | ||
|---|---|---|
| As of December 31 ($ in millions) | 2025 | 2024 |
| Total Bancorp Shareholders’ Equity (U.S. GAAP) | $21,724 | 19,645 |
| Less: Preferred stock | 1,770 | 2,116 |
| Goodwill | 4,947 | 4,918 |
| Intangible assets | 69 | 90 |
| AOCI | (3,110) | (4,636) |
| Tangible common equity, excluding AOCI (1) | 18,048 | 17,157 |
| Add: Preferred stock | 1,770 | 2,116 |
| Tangible equity (2) | $19,818 | 19,273 |
| Total Assets (U.S. GAAP) | $214,376 | 212,927 |
| Less: Goodwill | 4,947 | 4,918 |
| Intangible assets | 69 | 90 |
| AOCI, before tax | (4,092) | (5,868) |
| Tangible assets, excluding AOCI (3) | $213,452 | 213,787 |
| Ratios: | ||
| Tangible equity as a percentage of tangible assets (2) / (3) | 9.28% | 9.02 |
| Tangible common equity as a percentage of tangible assets (1) / (3) | 8.46 | 8.03 |
53 Fifth Third Bancorp
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