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Fifth Third Bancorp (NASDAQ: FITB):
| Key Financial Data |
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| Key Highlights | |||
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| $ in millions for all balance sheet and income statement items |
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| 1Q26 | 4Q25 | 1Q25 | Successfully closed Comerica acquisition Opening Balances as of February 1st:
Stability:
Profitability:
Growth:
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| Income Statement Data |
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| Net income available to common shareholders | $128 |
| $699 |
| $478 |
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| Net interest income (U.S. GAAP) | 1,934 |
| 1,529 |
| 1,437 |
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| Net interest income (FTE)(a) | 1,939 |
| 1,533 |
| 1,442 |
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| Noninterest income | 895 |
| 811 |
| 694 |
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| Noninterest expense | 2,395 |
| 1,309 |
| 1,304 |
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| Per Share Data |
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| Earnings per share, basic | $0.16 |
| $1.05 |
| $0.71 |
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| Earnings per share, diluted | 0.15 |
| 1.04 |
| 0.71 |
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| Book value per share | 35.24 |
| 30.18 |
| 27.41 |
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| Tangible book value per share(a) | 22.88 |
| 22.60 |
| 19.92 |
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| Balance Sheet & Credit Quality |
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| Average portfolio loans and leases | $157,632 |
| $123,430 |
| $121,272 |
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| Average deposits | 209,352 |
| 168,384 |
| 164,157 |
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| Accumulated other comprehensive loss | (3,234) |
| (3,110) |
| (3,895) |
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| Net charge-off ratio(b) | 0.37 | 0.40 | 0.46 | ||||||
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| Nonperforming asset ratio(c) | 0.57 |
| 0.65 |
| 0.81 |
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| Financial Ratios |
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| Return on average assets | 0.25 | 1.36 | 0.99 | ||||||
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| Return on average common equity | 1.8 |
| 14.0 |
| 10.8 |
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| Return on average tangible common equity(a) | 3.5 |
| 19.0 |
| 15.2 |
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| CET1 capital(d) | 9.96 |
| 10.81 |
| 10.43 |
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| Net interest margin(a) | 3.30 |
| 3.13 |
| 3.03 |
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| Efficiency(a) | 84.5 |
| 55.8 |
| 61.0 |
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| 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. | |||||||||
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| From Tim Spence, Fifth Third Chairman, CEO and President: |
The first quarter reflected continued momentum across Fifth Third. We delivered strong loan and deposit growth, driven by new commercial relationships and continued household expansion. We closed the acquisition of Comerica on February 1st, and early financial benefits are already showing up, including strong net interest margin expansion and tangible book value per share growth.
Integration is progressing as we expected. We have integrated the combined management teams and are retaining key customer‑facing colleagues, supporting continuity for clients as we move forward as one organization. We are also seeing early revenue synergies across both commercial and consumer businesses.
Our focus is unchanged: stability, profitability, and growth, in that order. Disciplined execution will drive growth and deepen client relationships as we expand in our attractive footprint markets, while maintaining strong credit performance and delivering the expected financial synergies from Comerica. We are building a better and more resilient institution and remain committed to delivering consistent, long-term value for shareholders.
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| Income Statement Highlights |
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| ($ in millions, except per share data) | For the Three Months Ended |
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| 2026 |
| 2025 |
| 2025 |
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| Condensed Statements of Income |
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| Net interest income (NII)(a) | $1,939 |
| $1,533 |
| $1,442 |
| 26 |
| 34 |
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| Provision for credit losses | 227 |
| 119 |
| 174 |
| 91 |
| 30 |
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| Noninterest income | 895 |
| 811 |
| 694 |
| 10 |
| 29 |
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| Noninterest expense | 2,395 |
| 1,309 |
| 1,304 |
| 83 |
| 84 |
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| Income before income taxes(a) | $212 |
| $916 |
| $658 |
| (77 |
| (68 |
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| Taxable equivalent adjustment | $5 |
| $4 |
| $5 |
| 25 |
| — |
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| Applicable income tax expense | 42 |
| 181 |
| 138 |
| (77 |
| (70 |
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| Net income | $165 |
| $731 |
| $515 |
| (77 |
| (68 |
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| Dividends on preferred stock | 37 |
| 32 |
| 37 |
| 16 |
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| Net income available to common shareholders | $128 |
| $699 |
| $478 |
| (82 |
| (73 |
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| Earnings per share, diluted | $0.15 |
| $1.04 |
| $0.71 |
| (86 |
| (79 |
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Fifth Third Bancorp (NASDAQ®: FITB) today reported first quarter 2026 net income available to common shareholders of $128 million, or $0.15 per diluted share, compared to $699 million, or $1.04 per diluted share, in the prior quarter and $478 million, or $0.71 per diluted share, in the year-ago quarter.
On February 1, 2026, Fifth Third completed the acquisition of Comerica Incorporated in an all-stock transaction valued at approximately $12.7 billion. First quarter results include two months of activity for Comerica.
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| Diluted earnings per share impact of certain item(s) - 1Q26 |
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| Merger-related charges(e)1,2 | $(510) |
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| Merger-related Day 1 ACL build(e) | (63) |
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| Interchange litigation matters(e) | 6 |
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| After-tax impact of certain item(s) | $(567) |
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| Diluted earnings per share impact of certain item(s)3 | $(0.68) |
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| Totals may not foot due to rounding; 1A portion of the adjustments related to merger-related expenses are not tax-deductible; 2Pre-tax merger-related charges increased noninterest expense by $635 million and decreased noninterest income by $22 million; 3Diluted earnings per share impact reflects 830.274 million average diluted shares outstanding |
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| Net Interest Income |
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| (FTE; $ in millions)(a) | For the Three Months Ended |
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| 2026 |
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| Interest Income |
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| Interest income | $2,977 |
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| $2,472 |
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| $2,437 |
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| 20% |
| 22% |
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| Interest expense | 1,038 |
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| 939 |
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| 995 |
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| 11% |
| 4% |
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| Net interest income (NII) | $1,939 |
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| $1,533 |
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| $1,442 |
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| 26% |
| 34% |
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| Average Yield/Rate Analysis |
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| bps Change |
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| Yield on interest-earning assets | 5.07% |
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| 5.05% |
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| 5.13% |
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| 2 |
| (6) |
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| Rate paid on interest-bearing liabilities | 2.44% |
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| 2.60% |
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| 2.80% |
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| (16) |
| (36) |
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| Ratios |
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| Net interest rate spread | 2.63% |
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| 2.45% |
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| 2.33% |
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| 18 |
| 30 |
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| Net interest margin (NIM) | 3.30% |
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| 3.13% |
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| 3.03% |
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| 17 |
| 27 |
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Fully taxable-equivalent (FTE) NII of $1.939 billion increased $406 million, or 26%, compared to the prior quarter. This improvement primarily reflects contributions from the Comerica acquisition, lower funding costs and disciplined balance sheet management. These benefits were partially offset by the impact of market rates on floating rate loans and lower day count. These same factors contributed to the 17 bps increase in NIM compared to the prior quarter. Purchase accounting accretion contributed approximately $38 million to net interest income in the quarter.
Compared to the year-ago quarter, NII increased $497 million, or 34%, and NIM increased 27 bps. This improvement was driven by the addition of Comerica earning assets and lower funding costs, partially offset by lower market rates impacting earning asset yields.
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| Noninterest Income |
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| ($ in millions) | For the Three Months Ended | % Change |
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| March | December | March |
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| 2026 | 2025 | 2025 | Seq | Yr/Yr |
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| Noninterest Income |
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| Wealth and asset management revenue | $233 | $185 | $172 | 26% | 35% |
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| Commercial payments revenue | 218 | 167 | 153 | 31% | 42% |
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| Consumer banking revenue | 146 | 143 | 137 | 2% | 7% |
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| Capital markets fees | 134 | 121 | 90 | 11% | 49% |
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| Commercial banking revenue | 105 | 102 | 80 | 3% | 31% |
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| Mortgage banking net revenue | 44 | 56 | 57 | (21)% | (23)% |
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| Other noninterest income | 27 | 42 | 14 | (36)% | 93% |
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| Securities losses, net | (12) | (5) | (9) | 140% | 33% |
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| Total noninterest income | $895 | $811 | $694 | 10% | 29% |
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Noninterest income of $895 million increased $84 million, or 10%, from the prior quarter and increased $201 million, or 29%, from the year-ago quarter. Both comparisons reflect two months of results from Comerica in the quarter. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are offset in noninterest expense.
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| Noninterest Income excluding certain items | |||||||||||||
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| ($ in millions) | For the Three Months Ended |
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| 2026 |
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| Noninterest Income excluding certain items |
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| Noninterest income (U.S. GAAP) | $895 |
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| $811 |
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| $694 |
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| Merger-related charges | 22 |
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| — |
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| Interchange litigation matters | (8) |
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| 8 |
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| 18 |
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| Litigation settlements | — |
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| (12) |
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| Securities losses, net | 12 |
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| 5 |
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| 9 |
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| Noninterest income excluding certain items(a) | $921 |
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| $812 |
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| $721 |
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| 13% |
| 28% |
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Noninterest income excluding certain items of $921 million increased $109 million, or 13%, compared to the prior quarter and increased $200 million, or 28%, from the year-ago quarter.
Comparisons to the prior and year-ago quarters were primarily driven by merger‑related impacts with additional incremental contributions from positive business momentum. Wealth and asset management revenue totaled $233 million, supported by seasonal tax‑related revenue and higher personal asset management revenue. Commercial payments revenue was $218 million, reflecting continued strength in core treasury services. Capital markets fees of $134 million were driven by client financial risk management revenue. Commercial banking revenue totaled $105 million, reflecting higher commercial lending‑related fees. Mortgage banking net revenue was $44 million, reflecting lower MSR net valuation adjustments.
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| Noninterest Expense |
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