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, July 17, 2026–(BUSINESS WIRE)–Fifth Third Bancorp (NYSE: FITB):

$ in millions for all balance sheet and income statement items

Net income available to common shareholders

Net interest income (U.S. GAAP)

Net interest income (FTE)(a)

Earnings per share, diluted

Tangible book value per share(a)

Balance Sheet & Credit Quality

Average portfolio loans and leases

Accumulated other comprehensive loss

Nonperforming asset ratio(c)

Return on average common equity

Return on average tangible common equity(a)

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.

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

($ in millions, except per share data)

For the Three Months Ended

Condensed Statements of Income

Net interest income (NII)(a)

Provision for credit losses

Income before income taxes(a)

Taxable equivalent adjustment

Applicable income tax expense

Dividends on preferred stock

Net income available to common shareholders

Earnings per share, diluted

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

(after-tax impact; $ in millions, except per share data)

Merger-related charges(e)1,2

Securities repositioning losses(e)

Technology-related asset impairments(e)

Interchange litigation matters(e)3

After-tax impact of certain item(s)

Diluted earnings per share impact of certain item(s)4

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

For the Three Months Ended

Average Yield/Rate Analysis

Yield on interest-earning assets

Rate paid on interest-bearing liabilities

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.

For the Three Months Ended

Wealth and asset management revenue

Commercial payments revenue

Commercial banking revenue

Mortgage banking net revenue

Securities gains/(losses), net

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

For the Three Months Ended

Noninterest Income excluding certain items

Noninterest income (U.S. GAAP)

Interchange litigation matters

Securities repositioning losses

Other securities (gains)/losses, net

Noninterest income excluding certain items(a)

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.

For the Three Months Ended

Technology and communications

Card and processing expense

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)

For the Three Months Ended