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Business Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Business Segments 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 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 assets by segment for the years ended December 31:
2024 ($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(d)
Total
Net interest income (FTE)(a)
$2,647 4,169 210 (1,372)5,654 
Provision for (benefit from) credit losses304 322 — (96)530 
Net interest income after provision for (benefit from) credit losses$2,343 3,847 210 (1,276)5,124 
Noninterest income:
Wealth and asset management revenue$3 247 397 — 647 
Commercial payments revenue529 76 1 2 608 
Consumer banking revenue— 551 2 2 555 
Capital markets fees421 2 2 (1)424 
Commercial banking revenue373 4 — — 377 
Mortgage banking net revenue— 210 1 — 211 
Other noninterest income53 4 1 (46)12 
Securities gains, net1 — — 14 15 
Total noninterest income$1,380 1,094 404 (29)2,849 
Noninterest expense:
Compensation and benefits$656 882 222 1,003 2,763 
Technology and communications14 30 1 429 474 
Net occupancy expense(b)
36 212 12 79 339 
Equipment expense28 51 — 74 153 
Loan and lease expense31 80 1 20 132 
Marketing expense3 68 1 43 115 
Card and processing expense9 75 1 (1)84 
Other noninterest expense(c)
1,117 1,074 149 (1,367)973 
Total noninterest expense$1,894 2,472 387 280 5,033 
Income (loss) before income taxes (FTE)$1,829 2,469 227 (1,585)2,940 
Average assets$77,177 51,627 4,390 79,612 212,806 
(a)Includes FTE adjustments of $15 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.
(c)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(d)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
2023 ($ in millions)Commercial BankingConsumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(e)
Total      
Net interest income (FTE)(a)
$3,828 5,207 360 (3,543)5,852 
Provision for credit losses12 303 1 199 515 
Net interest income after provision for credit losses$3,816 4,904 359 (3,742)5,337 
Noninterest income:
Wealth and asset management revenue$2 216 363 — 581 
Commercial payments revenue473 85 1 5 564 
Consumer banking revenue— 544 2 — 546 
Capital markets fees419 2 1 — 422 
Commercial banking revenue406 2 — 1 409 
Mortgage banking net revenue— 250 — — 250 
Other noninterest income(b)
65 6 2 18 91 
Securities gains (losses), net(9)— — 27 18 
Total noninterest income$1,356 1,105 369 51 2,881 
Noninterest expense:
Compensation and benefits$654 878 220 942 2,694 
Technology and communications14 27 1 422 464 
Net occupancy expense(c)
41 209 12 69 331 
Equipment expense29 44 — 75 148 
Loan and lease expense30 86 1 16 133 
Marketing expense3 70 1 52 126 
Card and processing expense11 76 1 (4)84 
Other noninterest expense(d)
1,221 1,125 139 (1,260)1,225 
Total noninterest expense$2,003 2,515 375 312 5,205 
Income (loss) before income taxes (FTE)$3,169 3,494 353 (4,003)3,013 
Average assets$83,078 50,974 4,678 69,696 208,426 
(a)Includes FTE adjustments of $16 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes impairment charges of $1 recorded in Consumer and Small Business Banking and $1 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7 and Note 28.
(c)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9. 
(d)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(e)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
2022 ($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(f)
Total      
Net interest income (FTE)(a)
$2,552 3,131 262 (320)5,625 
Provision for credit losses33 139 — 391 563 
Net interest income after provision for credit losses$2,519 2,992 262 (711)5,062 
Noninterest income:
Wealth and asset management revenue$3 204 363 — 570 
Commercial payments revenue468 89 1 10 568 
Consumer banking revenue— 538 2 2 542 
Capital markets fees387 2 — (2)387 
Commercial banking revenue417 
(c)
1 1 — 419 
Mortgage banking net revenue— 214 1 — 215 
Other noninterest income(b)
98 7 — 44 149 
Securities losses, net(33)(2)— (49)(84)
Total noninterest income$1,340 1,053 368 5 2,766 
Noninterest expense:
Compensation and benefits$639 828 218 869 2,554 
Technology and communications11 22 1 382 416 
Net occupancy expense(d)
40 196 13 58 307 
Equipment expense27 38 — 80 145 
Loan and lease expense27 107 1 32 167 
Marketing expense5 58 1 54 118 
Card and processing expense11 72 1 (4)80 
Other noninterest expense(e)
1,063 1,068 144 (1,343)932 
Total noninterest expense$1,823 2,389 379 128 4,719 
Income (loss) before income taxes (FTE)$2,036 1,656 251 (834)3,109 
Average assets$82,239 49,823 4,763 70,104 206,929 
(a)Includes FTE adjustments of $10 for Commercial Banking and $6 for General Corporate and Other.
(b)Includes impairment charges of $6 recorded in Consumer and Small Business Banking and $3 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7.
(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8.
(d)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9.
(e)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(f)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.