FIFTH THIRD BANCORPFITB
FIFTH THIRD BANCORP Segments Disclosure
Business Segments
The Bancorp has three reportable segments: Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management. The Bancorp’s reportable segments have been determined based on its management structure and management accounting practices. This presentation is aligned with how results are reviewed internally by the Bancorp’s Chairman, Chief Executive Officer and President, which the Bancorp has determined to be its Chief Operating Decision Maker (“CODM”). For each of the Bancorp’s segments, the CODM primarily uses segment income before income taxes on an FTE basis to allocate resources such as employees and capital. The CODM also monitors trends in net interest income, noninterest income and noninterest expense to evaluate the financial performance of each segment and make resource allocation decisions. These decisions also consider segment-specific events and circumstances, general market conditions, forecasts and variances to annual budgets. Additionally, the CODM uses segment average assets as a measure to allocate resources to the segments.
The Bancorp manages interest rate risk centrally at the corporate level. By employing an FTP methodology, the segments are insulated from most benchmark interest rate volatility, enabling them to focus on serving customers through the origination of loans and acceptance of deposits. The FTP methodology assigns charge and credit rates to classes of assets and liabilities, respectively, based on the estimated amount and timing of the cash flows for each transaction. Assigning the FTP rate based on matching the duration of cash flows allocates interest income and interest expense to each segment so its resulting net interest income is insulated from future changes in benchmark interest rates. The Bancorp’s FTP methodology also allocates the contribution to net interest income of the asset-generating and deposit-providing businesses on a duration-adjusted basis to better attribute the driver of the performance. As the asset and liability durations are not perfectly matched, the residual impact of the FTP methodology is captured in General Corporate and Other. The charge and credit rates are determined using the FTP rate curve, which is based on an estimate of Fifth Third’s marginal borrowing cost in the wholesale funding markets. The FTP curve is constructed using the U.S. swap curve, brokered CD pricing and unsecured debt pricing.
The Bancorp adjusts the FTP charge and credit rates as dictated by changes in interest rates for various interest-earning assets and interest-bearing liabilities and by the review of behavioral assumptions, such as prepayment rates on interest-earning assets and the estimated durations for indeterminate-lived deposits. Key assumptions, including the credit rates provided for deposit accounts, are reviewed at a minimum, annually. Credit rates for deposit products and charge rates for loan products may be reset more frequently in response to changes in market conditions.
The Bancorp’s methodology for allocating provision for credit losses to the segments includes charges or benefits associated with changes in criticized commercial loan levels in addition to actual net charge-offs experienced by the loans and leases owned by each segment. Provision for credit losses attributable to loan and lease growth and changes in ALLL factors is captured in General Corporate and Other. The financial results of the segments also include allocations for shared services and headquarters expenses, which are included within other noninterest expense. Additionally, the segments form synergies by taking advantage of relationship depth opportunities and funding operations by accessing the capital markets as a collective unit.
The following is a description of each of the Bancorp’s segments and the products and services they provide to their respective client bases.
Commercial Banking offers credit intermediation, cash management and financial services to large and middle-market businesses and government and professional customers. In addition to the traditional lending and depository offerings, Commercial Banking products and services include global cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing and syndicated finance.
Consumer and Small Business Banking provides a full range of deposit and loan products to individuals and small businesses through a network of full-service banking centers and relationships with indirect and correspondent loan originators in addition to providing products designed to meet the specific needs of small businesses, including cash management services. Consumer and Small Business Banking includes the Bancorp’s residential mortgage, home equity loans and lines of credit, credit cards, automobile and other indirect lending, solar energy installation and other consumer lending activities. Residential mortgage activities include the origination, retention and servicing of residential mortgage loans, sales and securitizations of those loans and all associated hedging activities. Indirect lending activities include extending loans to consumers through automobile dealers, motorcycle dealers, powersport dealers, recreational vehicle dealers and marine dealers. Solar energy installation loans and certain other consumer loans are originated through a network of contractors and installers.
Wealth and Asset Management provides a full range of wealth management solutions for individuals, companies and not-for-profit organizations, including wealth planning, investment management, banking, insurance, trust and estate services. These offerings include retail brokerage services for individual clients, advisory services for institutional clients including middle market businesses, non-profits, states and municipalities, and wealth management strategies and products for high net worth and ultra-high net worth clients.
The following tables present the results of operations and average assets by segment for the years ended December 31:
| 2025 ($ in millions) | Commercial Banking | Consumer and Small Business Banking | Wealth and Asset Management | General Corporate and Other(c) | Total | ||||||||||||
Net interest income (FTE)(a) | $ | 2,323 | 4,168 | 213 | (702) | 6,002 | |||||||||||
| Provision for (benefit from) credit losses | 451 | 325 | (2) | (112) | 662 | ||||||||||||
| Net interest income after provision for (benefit from) credit losses | $ | 1,872 | 3,843 | 215 | (590) | 5,340 | |||||||||||
| Noninterest income: | |||||||||||||||||
| Wealth and asset management revenue | $ | 2 | 279 | 422 | 1 | 704 | |||||||||||
| Commercial payments revenue | 553 | 87 | 1 | (11) | 630 | ||||||||||||
| Consumer banking revenue | — | 569 | 2 | — | 571 | ||||||||||||
| Capital markets fees | 412 | 2 | 2 | (1) | 415 | ||||||||||||
| Commercial banking revenue | 344 | 4 | 1 | — | 349 | ||||||||||||
| Mortgage banking net revenue | — | 226 | 1 | — | 227 | ||||||||||||
| Other noninterest income | 59 | 26 | 2 | 39 | 126 | ||||||||||||
| Securities gains (losses), net | (7) | — | — | 20 | 13 | ||||||||||||
| Total noninterest income | $ | 1,363 | 1,193 | 431 | 48 | 3,035 | |||||||||||
| Noninterest expense: | |||||||||||||||||
| Compensation and benefits | $ | 637 | 935 | 226 | 1,017 | 2,815 | |||||||||||
| Technology and communications | 15 | 32 | — | 469 | 516 | ||||||||||||
| Net occupancy expense | 36 | 217 | 13 | 83 | 349 | ||||||||||||
| Equipment expense | 31 | 58 | — | 80 | 169 | ||||||||||||
| Loan and lease expense | 38 | 83 | 1 | 24 | 146 | ||||||||||||
| Marketing expense | 4 | 91 | 1 | 46 | 142 | ||||||||||||
| Card and processing expense | 18 | 72 | 2 | — | 92 | ||||||||||||
Other noninterest expense(b) | 1,114 | 1,103 | 151 | (1,453) | 915 | ||||||||||||
| Total noninterest expense | $ | 1,893 | 2,591 | 394 | 266 | 5,144 | |||||||||||
Income (loss) before income taxes (FTE)(a) | $ | 1,342 | 2,445 | 252 | (808) | 3,231 | |||||||||||
| Average assets | $ | 77,765 | 56,107 | 4,832 | 72,779 | 211,483 | |||||||||||
(a)Includes FTE adjustments of $11 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(c)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
| 2024 ($ in millions) | Commercial Banking | Consumer and Small Business Banking | Wealth and Asset Management | General Corporate and Other(c) | Total | ||||||||||||
Net interest income (FTE)(a) | $ | 2,544 | 4,272 | 210 | (1,372) | 5,654 | |||||||||||
| Provision for (benefit from) credit losses | 304 | 322 | — | (96) | 530 | ||||||||||||
| Net interest income after provision for (benefit from) credit losses | $ | 2,240 | 3,950 | 210 | (1,276) | 5,124 | |||||||||||
| Noninterest income: | |||||||||||||||||
| Wealth and asset management revenue | $ | 3 | 247 | 397 | — | 647 | |||||||||||
| Commercial payments revenue | 519 | 86 | 1 | 2 | 608 | ||||||||||||
| Consumer banking revenue | — | 551 | 2 | 2 | 555 | ||||||||||||
| Capital markets fees | 420 | 3 | 2 | (1) | 424 | ||||||||||||
| Commercial banking revenue | 373 | 4 | — | — | 377 | ||||||||||||
| Mortgage banking net revenue | — | 210 | 1 | — | 211 | ||||||||||||
| Other noninterest income | 52 | 5 | 1 | (46) | 12 | ||||||||||||
| Securities gains, net | 1 | — | — | 14 | 15 | ||||||||||||
| Total noninterest income | $ | 1,368 | 1,106 | 404 | (29) | 2,849 | |||||||||||
| Noninterest expense: | |||||||||||||||||
| Compensation and benefits | $ | 643 | 895 | 222 | 1,003 | 2,763 | |||||||||||
| Technology and communications | 14 | 30 | 1 | 429 | 474 | ||||||||||||
| Net occupancy expense | 34 | 214 | 12 | 79 | 339 | ||||||||||||
| Equipment expense | 28 | 51 | — | 74 | 153 | ||||||||||||
| Loan and lease expense | 29 | 82 | 1 | 20 | 132 | ||||||||||||
| Marketing expense | 3 | 68 | 1 | 43 | 115 | ||||||||||||
| Card and processing expense | 9 | 75 | 1 | (1) | 84 | ||||||||||||
Other noninterest expense(b) | 1,087 | 1,104 | 149 | (1,367) | 973 | ||||||||||||
| Total noninterest expense | $ | 1,847 | 2,519 | 387 | 280 | 5,033 | |||||||||||
Income (loss) before income taxes (FTE)(a) | $ | 1,761 | 2,537 | 227 | (1,585) | 2,940 | |||||||||||
| Average assets | $ | 76,463 | 52,341 | 4,390 | 79,612 | 212,806 | |||||||||||
(a)Includes FTE adjustments of $15 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(c)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
| 2023 ($ in millions) | Commercial Banking | Consumer and Small Business Banking | Wealth and Asset Management | General Corporate and Other(c) | Total | ||||||||||||
Net interest income (FTE)(a) | $ | 3,693 | 5,342 | 360 | (3,543) | 5,852 | |||||||||||
| Provision for credit losses | 12 | 303 | 1 | 199 | 515 | ||||||||||||
| Net interest income after provision for credit losses | $ | 3,681 | 5,039 | 359 | (3,742) | 5,337 | |||||||||||
| Noninterest income: | |||||||||||||||||
| Wealth and asset management revenue | $ | 2 | 216 | 363 | — | 581 | |||||||||||
| Commercial payments revenue | 464 | 94 | 1 | 5 | 564 | ||||||||||||
| Consumer banking revenue | — | 544 | 2 | — | 546 | ||||||||||||
| Capital markets fees | 418 | 3 | 1 | — | 422 | ||||||||||||
| Commercial banking revenue | 406 | 2 | — | 1 | 409 | ||||||||||||
| Mortgage banking net revenue | — | 250 | — | — | 250 | ||||||||||||
| Other noninterest income | 64 | 7 | 2 | 18 | 91 | ||||||||||||
| Securities gains (losses), net | (9) | — | — | 27 | 18 | ||||||||||||
| Total noninterest income | $ | 1,345 | 1,116 | 369 | 51 | 2,881 | |||||||||||
| Noninterest expense: | |||||||||||||||||
| Compensation and benefits | $ | 642 | 890 | 220 | 942 | 2,694 | |||||||||||
| Technology and communications | 14 | 27 | 1 | 422 | 464 | ||||||||||||
| Net occupancy expense | 40 | 210 | 12 | 69 | 331 | ||||||||||||
| Equipment expense | 29 | 44 | — | 75 | 148 | ||||||||||||
| Loan and lease expense | 29 | 87 | 1 | 16 | 133 | ||||||||||||
| Marketing expense | 3 | 70 | 1 | 52 | 126 | ||||||||||||
| Card and processing expense | 11 | 76 | 1 | (4) | 84 | ||||||||||||
Other noninterest expense(b) | 1,194 | 1,152 | 139 | (1,260) | 1,225 | ||||||||||||
| Total noninterest expense | $ | 1,962 | 2,556 | 375 | 312 | 5,205 | |||||||||||
Income (loss) before income taxes (FTE)(a) | $ | 3,064 | 3,599 | 353 | (4,003) | 3,013 | |||||||||||
| Average assets | $ | 82,392 | 51,660 | 4,678 | 69,696 | 208,426 | |||||||||||
(a)Includes FTE adjustments of $16 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(c)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 24, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 25, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.