Fifth Third Bancorp Reports Second Quarter 2026 Earnings
Organic momentum and integration progress advance the earnings power of the combined company
Reported EPS of $0.83; adjusted EPS(a) of $1.02 excludes $0.19 of certain items on page 2
CINCINNATI--(BUSINESS WIRE)--Fifth Third Bancorp (NYSE: 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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| 2Q26 |
| 1Q26 |
| 2Q25 |
| Stability:
Profitability:
Growth:
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| Income Statement Data |
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| Net income available to common shareholders | $763 |
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| $128 |
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| $591 |
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| Net interest income (U.S. GAAP) | 2,215 |
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| 1,934 |
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| 1,495 |
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| Net interest income (FTE)(a) | 2,220 |
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| 1,939 |
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| 1,500 |
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| Noninterest income | 1,059 |
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| 895 |
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| 750 |
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| Noninterest expense | 2,109 |
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| 2,395 |
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| 1,264 |
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| Per Share Data |
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| Earnings per share, basic | $0.84 |
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| $0.16 |
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| $0.88 |
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| Earnings per share, diluted | 0.83 |
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| 0.15 |
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| 0.88 |
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| Book value per share | 35.56 |
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| 35.24 |
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| 28.47 |
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| Tangible book value per share(a) | 23.15 |
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| 22.88 |
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| 20.98 |
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| Balance Sheet & Credit Quality |
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| Average portfolio loans and leases | $177,572 |
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| $157,632 |
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| $123,071 |
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| Average deposits | 231,506 |
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| 209,352 |
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| 163,575 |
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| Accumulated other comprehensive loss | (3,345 | ) |
| (3,234 | ) |
| (3,546 | ) |
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| Net charge-off ratio(b) | 0.30 |
| % | 0.37 |
| % | 0.45 |
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| Nonperforming asset ratio(c) | 0.60 |
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| 0.57 |
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| 0.72 |
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| Financial Ratios |
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| Return on average assets | 1.08 |
| % | 0.25 |
| % | 1.20 |
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| Return on average common equity | 9.5 |
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| 1.8 |
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| 12.8 |
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| Return on average tangible common equity(a) | 15.6 |
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| 3.5 |
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| 17.6 |
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| CET1 capital(d) | 9.93 |
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| 9.89 |
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| 10.58 |
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| Net interest margin(a) | 3.36 |
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| 3.30 |
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| 3.12 |
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| Efficiency(a) | 64.3 |
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| 84.5 |
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| 56.2 |
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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: |
Fifth Third's second quarter was another step toward the earnings power we committed to deliver by year-end. Our core business continues to grow, with momentum across our fee businesses, led by wealth and asset management, commercial payments, and capital markets. The results were higher returns and tangible book value per share growth. Our balance sheet is well-positioned, supporting net interest margin expansion and improved credit performance.
The Comerica integration remains on track. Systems conversion is scheduled for Labor Day weekend and is the final step to unlocking the full run-rate of our expected cost synergies. Revenue synergies are emerging across our expanded footprint. Our deposit campaigns in the Comerica Southwest markets delivered results above our internal targets, and end-of-period commercial loan growth was broad-based across legacy geographies and specialty verticals.
Our capital generation supports both reinvestment in the business and consistent returns to shareholders. Investments in deposits, payments, technology, and high-growth markets are increasingly visible in our results. We are building a Fifth Third that is not just larger, but is better and more resilient. We will continue to be guided by our operating priorities of stability, profitability, and growth – in that order.
| Income Statement Highlights |
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| ($ in millions, except per share data) | For the Three Months Ended |
| % Change |
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| June |
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| 2026 |
| 2026 |
| 2025 |
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| Condensed Statements of Income |
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| Net interest income (NII)(a) | $2,220 |
| $1,939 |
| $1,500 |
| 14% |
| 48% |
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| Provision for credit losses | 129 |
| 227 |
| 173 |
| (43)% |
| (25)% |
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| Noninterest income | 1,059 |
| 895 |
| 750 |
| 18% |
| 41% |
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| Noninterest expense | 2,109 |
| 2,395 |
| 1,264 |
| (12)% |
| 67% |
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| Income before income taxes(a) | $1,041 |
| $212 |
| $813 |
| 391% |
| 28% |
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| Taxable equivalent adjustment | $5 |
| $5 |
| $5 |
| — |
| — |
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| Applicable income tax expense | 235 |
| 42 |
| 180 |
| 460% |
| 31% |
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| Net income | $801 |
| $165 |
| $628 |
| 385% |
| 28% |
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| Dividends on preferred stock | 38 |
| 37 |
| 37 |
| 3% |
| 3% |
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| Net income available to common shareholders | $763 |
| $128 |
| $591 |
| 496% |
| 29% |
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| Earnings per share, diluted | $0.83 |
| $0.15 |
| $0.88 |
| 453% |
| (6)% |
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Fifth Third Bancorp (NYSE: FITB) today reported second quarter 2026 net income available to common shareholders of $763 million, or $0.83 per diluted share, compared to $128 million, or $0.15 per diluted share, in the prior quarter and $591 million, or $0.88 per diluted share, in the year-ago quarter.
The second quarter of 2026 marked an important milestone for Fifth Third, surpassing $300 billion in total assets and formally becoming a Category III institution. Fifth Third has been preparing for a Category III transition over multiple years through sustained investments in risk, capital, liquidity, and regulatory reporting and is well-positioned to meet all Category III requirements on or before required dates.
| Diluted earnings per share impact of certain item(s) - 2Q26 |
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| Merger-related charges(e)1,2 | $(155) |
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| Securities repositioning losses(e) | (8) |
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| Technology-related asset impairments(e) | (5) |
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| Severance expense(e) | (5) |
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| Interchange litigation matters(e)3 | (2) |
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| After-tax impact of certain item(s) | $(175) |
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| Diluted earnings per share impact of certain item(s)4 | $(0.19) |
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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 $203 million; 3Interchange litigation matters increased noninterest expense by $1 million and decreased noninterest income by $1 million; 4Diluted earnings per share impact reflects 915.959 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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| Interest Income |
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| Interest income | $3,377 |
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| $2,977 |
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| $2,489 |
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| 13 | % |
| 36 | % |
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| Interest expense | 1,157 |
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| 1,038 |
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| 989 |
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| 11 | % |
| 17 | % |
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| Net interest income (NII) | $2,220 |
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| $1,939 |
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| $1,500 |
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| 14 | % |
| 48 | % |
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| Average Yield/Rate Analysis |
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| bps Change |
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| Yield on interest-earning assets | 5.11% |
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| 5.07% |
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| 5.18% |
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| 4 |
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| (7 | ) |
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| Rate paid on interest-bearing liabilities | 2.44% |
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| 2.44% |
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| 2.78% |
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| — |
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| (34 | ) |
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| Ratios |
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| Net interest rate spread | 2.67% |
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| 2.63% |
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| 2.40% |
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| 4 |
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| 27 |
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| Net interest margin (NIM) | 3.36% |
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| 3.30% |
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| 3.12% |
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| 6 |
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| 24 |
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Net interest income (FTE) of $2.220 billion increased 14% sequentially and 48% year-over-year. Both increases primarily reflect the addition of Comerica for a full-quarter. Organic loan production, continued fixed-rate asset repricing, and disciplined liability management also contributed to this growth. Net interest margin expanded 6 bps sequentially to 3.36% due to merger impacts, higher earning asset yields, and improved deposit pricing. Consumer deposits grew $4.6 billion as we continue to re-mix toward a more granular deposit base, which contributed to the 2 bps decrease in interest-bearing deposit costs.
| Noninterest Income |
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| ($ in millions) | For the Three Months Ended | % Change |
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| June | March | June |
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| 2026 | 2026 | 2025 | Seq | Yr/Yr |
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| Noninterest Income |
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| Wealth and asset management revenue | $256 | $233 | $166 | 10% | 54% |
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| Commercial payments revenue | 254 | 218 | 152 | 17% | 67% |
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| Consumer banking revenue | 161 | 146 | 147 | 10% | 10% |
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| Capital markets fees | 154 | 134 | 90 | 15% | 71% |
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| Commercial banking revenue | 125 | 105 | 79 | 19% | 58% |
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| Mortgage banking net revenue | 39 | 44 | 56 | (11)% | (30)% |
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| Other noninterest income | 50 | 27 | 44 | 85% | 14% |
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| Securities gains/(losses), net | 20 | (12) | 16 | NM | 25% |
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| Total noninterest income | $1,059 | $895 | $750 | 18% | 41% |
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Noninterest income of $1.059 billion increased $164 million, or 18% sequentially and $309 million, or 41%, year-over-year. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate the mark-to-market impacts from securities tied to non-qualified deferred compensation plans, which are offset in noninterest expense. Securities repositioning losses of approximately $10 million reflect active portfolio management resulting in opportunistically repositioning $4 billion of notional short-duration securities to accelerate cash flow reinvestment, enhance net interest income and reduce down-rate risk sensitivity.
| Noninterest Income excluding certain items | ||||||||||
| ($ in millions) | For the Three Months Ended |
| % Change |
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| 2026 |
| 2026 |
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| Noninterest Income excluding certain items |
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| Noninterest income (U.S. GAAP) | $1,059 |
| $895 |
| $750 |
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| Interchange litigation matters | 1 |
| (8) |
| 1 |
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| Merger-related charges | — |
| 22 |
| — |
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| Securities repositioning losses | 10 |
| — |
| — |
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| Other securities (gains)/losses, net | (30) |
| 12 |
| (16) |
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| Noninterest income excluding certain items(a) | $1,040 |
| $921 |
| $735 |
| 13% |
| 41% |
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Noninterest income excluding certain items of $1.040 billion increased $119 million, or 13%, compared to the prior quarter and increased $305 million, or 41%, from the year-ago quarter.
Growth was driven by the full-quarter contribution from Comerica and momentum across our fee businesses. Wealth and asset management revenue of $256 million benefited from higher personal asset management revenue, 8% sequential assets under management growth, and favorable market performance, partially offset by the seasonal decline in tax‑related revenue from first-quarter highs. Commercial payments revenue of $254 million reflected continued strength in core treasury services and Newline. Capital markets fees of $154 million were led by client financial risk management and loan syndication activity. Commercial banking revenue of $125 million was driven by higher commercial lending-related activity and mortgage banking net revenue of $39 million declined on lower gains on loan sales.
| Noninterest Expense |
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| ($ in millions) | For the Three Months Ended | % Change |
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| June | March | June |
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| 2026 | 2026 | 2025 | Seq | Yr/Yr |
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| Noninterest Expense |
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| Compensation and benefits | $1,129 | $1,410 | $698 | (20)% | 62% |
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| Technology and communications | 250 | 204 | 126 | 23% | 98% |
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| Net occupancy expense | 154 | 140 | 83 | 10% | 86% |
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| Card and processing expense | 66 | 79 | 22 | (16)% | 200% |
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| Equipment expense | 60 | 55 | 41 | 9% | 46% |
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| Loan and lease expense | 53 | 42 | 36 | 26% | 47% |
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| Marketing expense | 65 | 50 | 43 | 30% | 51% |
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| Other noninterest expense | 332 | 415 | 215 | (20)% | 54% |
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| Total noninterest expense | $2,109 | $2,395 | $1,264 | (12)% | 67% |
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Noninterest expense of $2.109 billion decreased 12% from the prior quarter and increased 67% from the year-ago quarter. The reported results reflect the impact of certain items in the table below.
| Noninterest Expense excluding certain item(s) |
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| ($ in millions) | For the Three Months Ended |
| % Change |
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| June |
| March |
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| 2026 |
| 2026 |
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| Noninterest Expense excluding certain item(s) |
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| Noninterest expense (U.S. GAAP) | $2,109 |
| $2,395 |
| $1,264 |
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| Merger-related charges | (203) |
| (635) |
| — |
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| Technology-related asset impairments | (7) |
| — |
| — |
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| Severance expense | (7) |
| — |
| (15) |
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| Interchange litigation matters | (1) |
| — |
| — |
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| Noninterest expense excluding certain item(s)(a) | $1,891 |
| $1,760 |
| $1,249 |
| 7% |
| 51% |
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| Non-qualified deferred compensation (expense)/benefit | (30) |
| 9 |
| (16) |
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| Noninterest expense excluding certain item(s) and non-qualified deferred compensation(a) | $1,861 |
| $1,769 |
| $1,233 |
| 5% |
| 51% |
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Noninterest expense excluding certain items and non-qualified deferred compensation of $1.861 billion increased 5% sequentially and 51% year-over-year. Sequential growth reflected the full-quarter contribution from Comerica, higher technology and communications expense tied to integration activity, and elevated marketing spend supporting the Comerica deposit campaign, partially offset by lower compensation and benefits.
Year-to-date merger-related charges represent approximately 65% of the expected full-year total, consistent with our integration timeline.
| Average Interest-Earning Assets |
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| ($ in millions) | For the Three Months Ended |
| % Change |
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| June |
| March |
| June |
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| 2026 |
| 2026 |
| 2025 |
| Seq |
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| Average Portfolio Loans and Leases |
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| Commercial loans and leases: |
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| Commercial and industrial loans | $84,967 |
| $73,264 |
| $54,075 |
| 16% |
| 57% |
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| Commercial mortgage loans | 27,176 |
| 21,969 |
| 12,410 |
| 24% |
| 119% |
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| Commercial construction loans | 8,437 |
| 7,278 |
| 5,810 |
| 16% |
| 45% |
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| Commercial leases | 3,503 |
| 3,347 |
| 3,120 |
| 5% |
| 12% |
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| Total commercial loans and leases | $124,083 |
| $105,858 |
| $75,415 |
| 17% |
| 65% |
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| Consumer loans: |
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| Residential mortgage loans | $19,626 |
| $18,848 |
| $17,615 |
| 4% |
| 11% |
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| Home equity | 6,830 |
| 6,064 |
| 4,383 |
| 13% |
| 56% |
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| Indirect secured consumer loans | 18,239 |
| 18,105 |
| 17,248 |
| 1% |
| 6% |
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| Credit card | 1,646 |
| 1,659 |
| 1,659 |
| (1)% |
| (1)% |
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| Solar energy installation loans | 4,384 |
| 4,516 |
| 4,268 |
| (3)% |
| 3% |
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| Other consumer loans | 2,764 |
| 2,582 |
| 2,483 |
| 7% |
| 11% |
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| Total consumer loans | $53,489 |
| $51,774 |
| $47,656 |
| 3% |
| 12% |
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| Total average portfolio loans and leases | $177,572 |
| $157,632 |
| $123,071 |
| 13% |
| 44% |
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| Average Loans and Leases Held for Sale |
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| Commercial loans and leases held for sale | $399 |
| $85 |
| $45 |
| 369% |
| 787% |
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| Consumer loans held for sale | 736 |
| 566 |
| 541 |
| 30% |
| 36% |
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| Total average loans and leases held for sale | $1,135 |
| $651 |
| $586 |
| 74% |
| 94% |
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| Total average loans and leases | $178,707 |
| $158,283 |
| $123,657 |
| 13% |
| 45% |
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| Securities (taxable and tax-exempt) | $67,924 |
| $59,950 |
| $56,243 |
| 13% |
| 21% |
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| Other short-term investments | 18,358 |
| 19,728 |
| 12,782 |
| (7)% |
| 44% |
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| Total average interest-earning assets | $264,989 |
| $237,961 |
| $192,682 |
| 11% |
| 38% |
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Total average portfolio loans and leases of $178 billion increased 13% sequentially and 44% year-over-year. Growth in both periods reflected the full-quarter contribution from Comerica, as well as underlying commercial loan momentum.
Within the total, average commercial portfolio loans and leases of $124 billion grew 17% sequentially and 65% year-over-year, while average consumer portfolio loans of $53 billion grew 3% sequentially and 12% year-over-year, primarily reflecting growth in residential mortgage and home equity balances.
Average securities (taxable and tax-exempt; amortized cost) of $68 billion increased 13% sequentially and 21% year-over-year, reflecting the addition of Comerica's securities portfolio and ongoing reinvestment activity. Average other short-term investments (including interest-bearing cash) of $18 billion decreased 7% sequentially and increased 44% year-over-year. The sequential decline primarily reflected the continued repositioning of the Comerica securities portfolio, seasonal deposit trends and loan growth.
| End of Period Interest-Earning Assets |
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| ($ in millions) | As of |
| % Change |
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| June |
| March |
| June |
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| 2026 |
| 2026 |
| 2025 |
| Seq |
| Yr/Yr |
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| End of Period Portfolio Loans and Leases |
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| Total commercial loans and leases | $124,880 |
| $122,859 |
| $74,152 |
| 2% |
| 68% |
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| Total consumer loans | 53,648 |
| 53,391 |
| 48,244 |
| — |
| 11% |
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| Total portfolio loans and leases | $178,528 |
| $176,250 |
| $122,396 |
| 1% |
| 46% |
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| End of Period Loans and Leases Held for Sale |
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| Total loans and leases held for sale | $866 |
| $1,365 |
| $646 |
| (37)% |
| 34% |
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| Total loans and leases | $179,394 |
| $177,615 |
| $123,042 |
| 1% |
| 46% |
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| Securities (taxable and tax-exempt) | $68,332 |
| $67,823 |
| $55,109 |
| 1% |
| 24% |
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| Other short-term investments | 19,350 |
| 17,456 |
| 13,043 |
| 11% |
| 48% |
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| Total interest-earning assets | $267,076 |
| $262,894 |
| $191,194 |
| 2% |
| 40% |
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Period-end commercial portfolio loans and leases of $125 billion increased 2% sequentially and 68% year-over-year. Sequential growth was led by C&I, reflecting strong origination activity across corporate banking and middle market, partially offset by elevated payoffs.
Period-end consumer portfolio loans of $54 billion were flat sequentially and increased 11% year-over-year. Sequentially, continued momentum in home equity and growth in residential mortgage were offset by declines in indirect secured consumer and solar energy installation balances.
Total period-end securities (taxable and tax-exempt; amortized cost) of $68 billion increased 1% sequentially and 24% year-over-year. Period-end other short-term investments of $19 billion increased 11% sequentially and increased 48% year-over-year. The sequential increase primarily reflects the reversal of seasonal deposit trends experienced earlier in the quarter.
Average Deposits |
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| |
| ($ in millions) | For the Three Months Ended |
| % Change |
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|
| June |
| March |
| June |
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|
| 2026 |
| 2026 |
| 2025 |
| Seq |
| Yr/Yr |
|
| Average Deposits |
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| Demand | $63,976 |
| $55,770 |
| $40,885 |
| 15% |
| 56% |
|
| Interest checking | 70,507 |
| 67,369 |
| 56,738 |
| 5% |
| 24% |
|
| Savings | 18,430 |
| 17,546 |
| 16,962 |
| 5% |
| 9% |
|
| Money market | 63,200 |
| 54,219 |
| 36,296 |
| 17% |
| 74% |
|
| Total transaction deposits | $216,113 |
| $194,904 |
| $150,881 |
| 11% |
| 43% |
|
| CDs $250,000 or less | 12,403 |
| 11,641 |
| 10,494 |
| 7% |
| 18% |
|
| Total core deposits | $228,516 |
| $206,545 |
| $161,375 |
| 11% |
| 42% |
|
| CDs over $250,0001 | 2,990 |
| 2,807 |
| 2,200 |
| 7% |
| 36% |
|
| Total average deposits | $231,506 |
| $209,352 |
| $163,575 |
| 11% |
| 42% |
|
| 1CDs over $250,000 includes $0.1BN, $0.4BN, and $1.1BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/26, 3/31/26, and 6/30/25, respectively. |
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Total average deposits of $232 billion increased 11% sequentially and 42% year-over-year. Period-end total deposits of $234 billion were flat sequentially and up 43% year-over-year.
Period-end consumer deposits grew $4.6 billion in the quarter, supported by outperformance from the Comerica retail deposit campaign, and were largely offset by the intentional reduction of higher-cost, non-relationship commercial deposits. This mix shift is consistent with the strategy to increase granular consumer deposits.
The period-end portfolio loan-to-core deposit ratio was 77%, compared to 76% in both the prior and year-ago quarters, reflecting balanced growth in loans and deposits.
Average Wholesale Funding |
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| ($ in millions) | For the Three Months Ended |
| % Change |
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|
| June |
| March |
| June |
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| 2026 |
| 2026 |
| 2025 |
| Seq |
| Yr/Yr |
|
| Average Wholesale Funding |
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| CDs over $250,0001 | $2,990 |
| $2,807 |
| $2,200 |
| 7% |
| 36% |
|
| Federal funds purchased | 160 |
| 178 |
| 206 |
| (10)% |
| (22)% |
|
| Securities sold under repurchase agreements | 444 |
| 322 |
| 353 |
| 38% |
| 26% |
|
| FHLB advances | 3,437 |
| 99 |
| 4,976 |
| NM |
| (31)% |
|
| Derivative collateral and other secured borrowings | 64 |
| 83 |
| 89 |
| (23)% |
| (28)% |
|
| Long-term debt | 18,817 |
| 18,062 |
| 14,599 |
| 4% |
| 29% |
|
| Total average wholesale funding | $25,912 |
| $21,551 |
| $22,423 |
| 20% |
| 16% |
|
| 1CDs over $250,000 includes $0.1BN, $0.4BN, and $1.1BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/26, 3/31/26, and 6/30/25, respectively. |
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Average wholesale funding of $26 billion increased 20% sequentially, driven primarily by a $3.3 billion increase in short-term FHLB advances used to bridge the seasonal trough in commercial deposit balances.
Compared to the year-ago quarter, average wholesale funding increased 16%, driven by a $4.2 billion increase in long-term debt associated with the Comerica acquisition, partially offset by a $1.5 billion decline in FHLB advances as strong deposit growth reduced the reliance on wholesale funding.
Credit Quality Summary |
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($ in millions) | As of and For the Three Months Ended | |||||||||
| June |
| March |
| December |
| September |
| June | |
| 2026 |
| 2026 |
| 2025 |
| 2025 |
| 2025 | |
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Total nonaccrual portfolio loans and leases (NPLs) | $1,041 |
| $960 |
| $767 |
| $768 |
| $853 |
|
Repossessed property | 10 |
| 11 |
| 11 |
| 12 |
| 8 |
|
OREO | 24 |
| 28 |
| 19 |
| 21 |
| 25 |
|
Total nonperforming portfolio loans and leases and OREO (NPAs) | $1,075 |
| $999 |
| $797 |
| $801 |
| $886 |
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NPL ratio(f) | 0.58% |
| 0.54% |
| 0.62% |
| 0.62% |
| 0.70% |
|
NPA ratio(c) | 0.60% |
| 0.57% |
| 0.65% |
| 0.65% |
| 0.72% |
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Portfolio loans and leases 30-89 days past due (accrual) | $561 |
| $683 |
| $360 |
| $348 |
| $277 |
|
Portfolio loans and leases 90 days past due (accrual) | 33 |
| 49 |
| 30 |
| 29 |
| 34 |
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30-89 days past due as a % of portfolio loans and leases | 0.31% |
| 0.39% |
| 0.29% |
| 0.28% |
| 0.23% |
|
90 days past due as a % of portfolio loans and leases | 0.02% |
| 0.03% |
| 0.02% |
| 0.02% |
| 0.03% |
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Allowance for loan and lease losses (ALLL), beginning | $2,922 |
| $2,253 |
| $2,265 |
| $2,412 |
| $2,384 |
|
Total net losses charged-off | (135) |
| (144) |
| (125) |
| (339) |
| (139) |
|
Provision for loan and lease losses | 131 |
| 152 |
| 113 |
| 192 |
| 167 |
|
Allowance on PCD loans and leases at acquisition | (1) |
| 180 |
| — |
| — |
| — |
|
Allowance on PSLs at acquisition | 1 |
| 481 |
| — |
| — |
| — |
|
ALLL, ending | $2,918 |
| $2,922 |
| $2,253 |
| $2,265 |
| $2,412 |
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Reserve for unfunded commitments, beginning | $232 |
| $157 |
| $151 |
| $146 |
| $140 |
|
(Benefit from) provision for the reserve for unfunded commitments | (2) |
| 75 |
| 6 |
| 5 |
| 6 |
|
Reserve for unfunded commitments, ending | $230 |
| $232 |
| $157 |
| $151 |
| $146 |
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Total allowance for credit losses (ACL) | $3,148 |
| $3,154 |
| $2,410 |
| $2,416 |
| $2,558 |
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ACL ratios: |
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As a % of portfolio loans and leases | 1.76% |
| 1.79% |
| 1.96% |
| 1.96% |
| 2.09% |
|
As a % of nonperforming portfolio loans and leases | 303% |
| 328% |
| 314% |
| 314% |
| 300% |
|
As a % of nonperforming portfolio assets | 293% |
| 316% |
| 302% |
| 302% |
| 289% |
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ALLL as a % of portfolio loans and leases | 1.63% |
| 1.66% |
| 1.84% |
| 1.84% |
| 1.97% |
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Total losses charged-off | $(181) |
| $(187) |
| $(177) |
| $(382) |
| $(194) |
|
Total recoveries of losses previously charged-off | 46 |
| 43 |
| 52 |
| 43 |
| 55 |
|
Total net losses charged-off1 | $(135) |
| $(144) |
| $(125) |
| $(339) |
| $(139) |
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Net charge-off ratio (NCO ratio)(b)1 | 0.30% |
| 0.37% |
| 0.40% |
| 1.09% |
| 0.45% |
|
Commercial NCO ratio | 0.21% |
| 0.26% |
| 0.27% |
| 1.46% |
| 0.38% |
|
Consumer NCO ratio | 0.53% |
| 0.58% |
| 0.59% |
| 0.52% |
| 0.56% |
|
1Excludes net charge-offs of $111 million which were taken immediately at the time of acquisition. |
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The provision for credit losses totaled $129 million in the current quarter, down from $227 million in the prior quarter, which included an $83 million Day 1 allowance build associated with the Comerica acquisition. The ACL ratio was 1.76% of total portfolio loans and leases at quarter end, down 3 bps sequentially and 33 bps year-over-year, primarily reflecting the addition of Comerica's portfolio mix and continued strong credit performance. The ACL coverage ratio remained strong at 303% of nonperforming portfolio loans and leases and 293% of nonperforming portfolio assets.
Net charge-offs totaled $135 million, and the NCO ratio improved 7 bps sequentially to 0.30%, the lowest level since the second quarter of 2023.
Contacts
Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693
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