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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.
| 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?
Recent developments and announcements about FITB.
Earnings
New Earnings (Q4 2024)
·Jan 24, 2025, 12:13 AMView full earnings summary →FITB's Q4 saw 3% loan growth and record pipelines, with robust expansions in the Southeast fueling deposit growth. Commercial payments revenue jumped 7% yoy, offset by a spike in C&I nonaccruals. Watch credit quality and uncertain NIM in 2025.
8-K Filings
8-K Filing
·Feb 19, 2025, 9:34 PMFinancial ExhibitsOther EventsView full 8-K filing →The filing incorporates Q4 2024 earnings details (Exhibit 99.1): Net income available to common shareholders was $582M ($0.85 EPS), up from $532M last quarter. Full-year net income remained at $2.2B, with 1% higher NII and a 7 bps NIM increase.