Fifth Third Bancorp is a diversified financial services company that operates through three main business segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The company provides a wide range of financial products and services, including credit intermediation, cash management, deposit and loan products, and wealth management solutions . Fifth Third Bancorp's revenue is primarily derived from net interest income and noninterest income, with a focus on a diversified fee revenue strategy to mitigate cyclical impacts . The company is also experiencing significant growth in its Commercial Payments business, which processes a substantial volume of payments and generates recurring fee revenue .
- Commercial Banking - Provides credit intermediation, cash management, and financial services to large and middle-market businesses, government, and professional customers, including global cash management, foreign exchange, and international trade finance.
- Consumer and Small Business Banking - Offers a range of deposit and loan products to individuals and small businesses, including residential mortgages, home equity loans, credit cards, and solar energy installation loans.
- Wealth and Asset Management - Delivers wealth management solutions such as investment management, banking, insurance, and trust services for individuals and organizations.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bryan D. Preston Executive | Executive Vice President and Chief Financial Officer | N/A | Bryan Preston became CFO on January 2, 2024, after serving as Treasurer. He has nearly two decades of experience at FITB, focusing on capital and liquidity management. | |
Jude A. Schramm Executive | Executive Vice President and Chief Information Officer | N/A | Jude A. Schramm has been CIO since March 2018, overseeing IT strategy and innovation. | |
Kevin P. Lavender Executive | Executive Vice President and Head of Commercial Bank | N/A | Kevin P. Lavender is the EVP and Head of Commercial Bank as of February 27, 2024. | |
Robert P. Shaffer Executive | Executive Vice President and Chief Risk Officer | N/A | Robert P. Shaffer has been Chief Risk Officer since November 2020, previously serving as Chief Human Resource Officer and Chief Auditor. | |
Susan B. Zaunbrecher Executive | Executive Vice President, Chief Legal Officer, and Corporate Secretary | N/A | Susan B. Zaunbrecher has been Chief Legal Officer since May 2018 and Corporate Secretary since March 2023. She previously practiced law at Dinsmore and Shohl LLP. | |
Timothy N. Spence Executive | President and Chief Executive Officer | N/A | Timothy N. Spence has been serving as President and CEO since January 2017, focusing on strategic planning, financial results, and leadership transitions. | View Report → |
B. Evan Bayh III Board | Director | Senior Advisor at Apollo Global Management; Director at Berry Global Group, Inc.; Director at RLJ Lodging Trust; Treasurer of the Evan and Susan Bayh Foundation | Former U.S. Senator and Governor of Indiana, Bayh has been a director at FITB since 2011. | |
Eileen A. Mallesch Board | Director | Director at Brighthouse Financial; Director at Arch Capital Group Ltd. | Eileen A. Mallesch has been a director at FITB since at least 2023 and serves as Chair of the Audit Committee. She has over 30 years of experience in finance and risk management. | |
Jorge L. Benitez Board | Director | Board Member at Interpublic Group of Companies; Director at World Kinect Corporation | Jorge L. Benitez has been a director at FITB since 2015 and is Chairman of the Technology Committee. He retired as CEO, North America, of Accenture in 2014. | |
Laurent Desmangles Board | Director | Advisor at Nyca Partners; Advisor at Demopolis Equity Partners | Laurent Desmangles joined the board in August 2023 and brings 30 years of experience advising financial services organizations on strategy and transformation. | |
Linda W. Clement-Holmes Board | Director | Board Member at Regis Corporation; Member of IT Senior Management Forum | Linda W. Clement-Holmes has been a director at FITB since 2010 and is certified in Cybersecurity Oversight. She retired as CIO of Procter & Gamble in 2018. | |
Nicholas K. Akins Board | Chairman of the Board of Directors | Board Member at DTE Energy Company; Non-Executive Chair of GE Vernova LLC; Member of the Board of the Rock and Roll Hall of Fame; Nuclear Insurance Mutual Board Member | Nicholas K. Akins is the Chairman of the Board and has extensive leadership experience, including as the former CEO of American Electric Power. |
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Given your expectation that normalizing the yield curve could expand your net interest margin to 315-325 basis points over time, how will you achieve this target if the interest rate environment remains challenging and the curve stays flat?
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With your CET1 ratio at 10.8% and plans to increase share repurchases, how do you balance returning capital to shareholders with funding organic growth, especially considering potential regulatory requirements under Basel III endgame?
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As you aim to shift your deposit mix to a 50-50 split between the Midwest and other regions solely through building new branches, what specific strategies are you implementing to accelerate this expansion without acquisitions, and how confident are you in achieving this goal?
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How are you managing the risk of deposit migration from index deposits to higher-rate products as interest rates decline, and what measures are in place to prevent reverse migration from impacting your deposit costs and betas?
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With an annualized expense growth rate of around 3%, what key investment areas are you prioritizing for 2025, and how will you ensure these investments drive sufficient revenue growth to achieve positive operating leverage if net interest income faces pressure?
Research analysts who have asked questions during FITB earnings calls.
Ebrahim Poonawala
Bank of America Securities
4 questions for FITB
Christopher Marinac
Janney Montgomery Scott LLC
3 questions for FITB
Manan Gosalia
Morgan Stanley
3 questions for FITB
Matthew O'Connor
Deutsche Bank
3 questions for FITB
Robert Siefers
Piper Sandler & Co.
3 questions for FITB
Erika Najarian
UBS
2 questions for FITB
Gerard Cassidy
RBC Capital Markets
2 questions for FITB
L. Erika Penala
UBS
2 questions for FITB
Michael Mayo
Wells Fargo
2 questions for FITB
Bill Carcache
Wolfe Research, LLC
1 question for FITB
Brian Foran
Truist Financial
1 question for FITB
Christopher McGratty
Keefe, Bruyette & Woods
1 question for FITB
John Pancari
Evercore ISI
1 question for FITB
Kenneth Usdin
Jefferies
1 question for FITB
Mike Mayo
Wells Fargo
1 question for FITB
R. Scott Siefers
Piper Sandler Companies
1 question for FITB
Ryan Nash
Goldman Sachs & Co.
1 question for FITB
Steven Alexopoulos
JPMorgan Chase & Co.
1 question for FITB
Thomas Leddy
RBC Capital Markets
1 question for FITB
Thomas Letty
RBC Capital Markets
1 question for FITB
Recent press releases and 8-K filings for FITB.
- Fifth Third Bank’s CFO Bryan Preston explained the strategic rationale for acquiring Comerica, emphasizing the combination of strong retail deposit growth and middle-market banking franchises to shift its growth profile toward the Texas market.
- The bank plans a seven-month integration window (legal day one to customer day one) to address system customizations and improve relationship-manager retention, learning from the longer close-to-conversion timeline of its MBFI deal.
- Fifth Third will expand its branch network with 150 new locations in Texas (75% in Dallas and Houston) post-acquisition and complete its Southeast program of 200 de novos by 2028 to capitalize on higher population growth.
- Management expects a neutral capital impact, will hold off on share buybacks until after closing, maintain a 10.5% CET1 target, and is prepared for Category 3 regulatory requirements with an existing readiness program.
- Fifth Third plans to acquire Comerica with legal close targeted for March 2026 and customer day one in October 2026, providing a seven-month integration window versus a seven-week conversion for its 2018 MBFI deal.
- The deal adds 109 Texas branches, with 150 new locations planned by 2029 (75% in Dallas and Houston), and Fifth Third will complete 200 Southeast de novos by 2028, where 2024–25 vintages are achieving 160% of deposit goals.
- Post-conversion, Comerica’s consumer customers will gain access to Fifth Third’s #1 regional banking mobile app, customer recommendation engine, MyDay, and Momentum Banking features to drive retail growth.
- Fifth Third has built a Category 3 readiness program—maintaining LCR infrastructure, accelerating 2052A reporting, and scoping SECL compliance—expecting minimal incremental costs covered by deal synergies.
- Its non-bank financial institution lending portfolio stands at $10.2 bn, with ~70% in low-loss segments (warehouse, corporate credit, subscription lines) and a cautious approach toward NAV and private credit facilities.
- Fifth Third agreed to acquire Comerica to combine strength-on-strength in retail and middle-market banking and to access key markets in Texas and California, targeting customer day one in October 2026.
- The bank will expand its Texas retail footprint from 109 to 150 branches by 2027–2029—with ~75% in Dallas and Houston—and complete its Southeast de novo program with 200 locations by end-2028 to drive deposit and loan growth.
- Integration lessons from the 2018 MB Financial deal extend the post-close conversion window to seven months (vs. seven weeks) to allow thorough legal, data and fraud-testing processes for a smoother customer migration.
- Upon closing, Fifth Third will enter Category 3 regulatory status but has prebuilt readiness—covering LCR, SECL, and T+2 reporting requirements—as part of its synergy planning at minimal incremental cost.
- Fifth Third Bancorp operates with $213 billion in assets, $167 billion in deposits, and 1,102 U.S. branches, ranking 10th in assets, 9th in deposits, and 8th in branches.
- The bank’s diversified portfolio comprises Commercial Banking (loans $68 B; deposits $61 B), Consumer & Small Business Banking (loans $51 B; deposits $92 B), and Wealth & Asset Management (loans $5 B; deposits $10 B).
- A proposed strategic combination is expected to deliver a 22% IRR, achieve 19%+ ROTCE (up 200 bps), and drive the efficiency ratio into the low-to-mid 50s within two years, with no tangible book value per share dilution.
- The transaction will scale two $1 billion+ recurring revenue engines in Commercial Payments and Wealth & Asset Management, while expanding density in core and high-growth markets.
- EPS: Reported $0.91, adjusted $0.93; adjusted ROE 13.0%.
- Generated adjusted PPNR of $1,061 MM; net interest income $1,525 MM at a margin of 3.13%.
- Average consumer loans up 7% y/y and commercial loans up 4% y/y; 4Q25 average loans forecast up 1% q/q.
- Credit metrics: NPL ratio 0.62%, NCO ratio 1.09% (vs. 0.45% in 2Q25), ACL ratio 1.96%.
- Capital and liquidity: CET1 ratio 10.54%, liquidity sources $107 B, executed $300 MM share repurchases and raised dividend 8%.
- Fifth Third announced a merger agreement with Comerica, with regulatory filings on track for completion by month-end and an expected close around end-2026; both employees and communities have reacted positively to the transaction.
- Third quarter earnings per share were $0.91 (or $0.93 core), with adjusted revenue of $2.30 billion (+6% YoY), net interest income up 7%, fees up 5%, and pre-provision net revenue rising 11%; net loan growth was 6% YoY and adjusted ROA was 1.25%.
- Credit remained stable: net charge-off ratio was 109 bps (including $178 million from a fraud event), nonperforming assets declined, the allowance for credit losses was 1.96% of loans, and CET1 capital stood at 10.54%.
- Fourth quarter guidance assumes two 25 bps rate cuts, with net interest income expected to be stable to +1%, adjusted noninterest income up 2–3%, expenses up 2%, and net charge-offs around 40 bps; full-year adjusted revenue and PPNR are projected to increase by about 5% and 7–8%, respectively.
- Fifth Third announced a merger with Comerica, expected to close end of Q1 2026, targeting strength-strength synergies and superior IRR/NPV versus organic growth.
- Q3 EPS was $0.91 ($0.93 excluding items); average loans rose 6% y/y and consumer DDAs 6% y/y; adjusted revenues increased 6%, delivering 330 bps of positive operating leverage.
- Adjusted revenue reached $2.3 billion, NII grew 7% y/y with net interest margin up 23 bps, and fee businesses expanded 5% y/y in wealth, payments, and capital markets.
- Credit included a $200 million provision for Tricolor fraud; net charge-off ratio was 1.09%; NPAs fell 10% sequentially to 0.65%; ACL coverage ratio rose to 302% of NPAs.
- Q4 guidance assumes NII stable to +1%, adjusted non-interest income +2–3%, expenses +2%; full-year revenue +5%, PP&R +7–8%; net charge-offs ~40 bps; share repurchases paused until merger close.
- On September 19, 2025, Fifth Third Bancorp delivered a notice to redeem all outstanding 4.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L, and related depositary shares on September 30, 2025.
- The redemption price is $25,000 per preferred share and $1,000 per depositary share, plus any declared but unpaid dividends.
- The redemption will reduce Q3 2025 net income available to common shareholders by approximately $3.5 million, reflected as additional preferred dividend expense.
- Fifth Third Bancorp announced the acquisition of DTS Connex, a cash management software provider for multi-location businesses, to bolster its Commercial Payments business with enhanced cash logistics, infrastructure and risk management capabilities.
- The deal, effective August 1, 2025, makes DTS Connex a wholly owned subsidiary that will continue operating independently; financial terms were not disclosed.
- Fifth Third’s Commercial Payments unit processed $17 trillion in payment volume in 2024 and holds top-five market share in six payment categories, including second in coin and currency revenue.
- Fifth Third launched its first Alabama financial center in Huntsville as part of a plan to open 200 new retail locations by 2028, extending its presence to 12 states.
- The bank will open 15 centers in Alabama over three years (10 in Huntsville, 5 in Birmingham) and expects Southeast branches to comprise 50% of its network by end-2028.
- Branches opened between 2022–2024 are averaging $25 million in deposits within the first year, and the bank projects $15–20 billion in deposit growth over the next seven years.