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Business Segments
 3 Months Ended
Mar. 31, 2025
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.

Refer to Note 31 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2024 for additional information about the Bancorp’s FTP process and other allocation methodologies.

In January 2025, the Bancorp realigned its reporting structure and moved certain business banking customer relationships and relationship management personnel to the Consumer and Small Business Banking segment from the Commercial Banking segment to improve alignment of customer acquisition and servicing resources with customer product and service demand. In conjunction with this change, the loans, deposits and operating results associated with the affected business banking customer relationships were reclassified from the Commercial Banking segment to the Consumer and Small Business Banking segment effective January 1, 2025, along with $73 million of associated goodwill. This change was applied retrospectively to all prior periods presented. The following table summarizes the impacts of the movements from the Commercial Banking segment to the Consumer & Small Business Banking segment for the years ended December 31:

($ in millions)202420232022
Net interest income (FTE)$103 13574
Income before income taxes (FTE)6810543
Average assets714686660

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 three months ended:
March 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)
$552 975 49 (134)1,442 
Provision for credit losses80 84 — 10 174 
Net interest income after provision for credit losses
$472 891 49 (144)1,268 
Noninterest income:

Wealth and asset management revenue$— 66 106 — 172 
Commercial payments revenue133 20 — — 153 
Consumer banking revenue— 135 1 1 137 
Capital markets fees90 — 1 (1)90 
Commercial banking revenue79 1 — — 80 
Mortgage banking net revenue— 57 — — 57 
Other noninterest income6 2 1 5 14 
Securities losses, net(7)— — (2)(9)
Total noninterest income$301 281 109 3 694 
Noninterest expense:

Compensation and benefits$178 236 62 274 750 
Technology and communications3 7 — 113 123 
Net occupancy expense9 54 3 21 87 
Equipment expense8 16 — 18 42 
Loan and lease expense7 18 — 5 30 
Marketing expense1 19 — 8 28 
Card and processing expense3 17 1 — 21 
Other noninterest expense(b)
302 283 40 (402)223 
Total noninterest expense$511 650 106 37 1,304 
Income (loss) before income taxes (FTE)(a)
$262 522 52 (178)658 
Average assets$77,940 54,406 4,657 73,555 210,558 
(a)Includes FTE adjustments of $3 for Commercial Banking and $2 for General Corporate and Other.
(b)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(c)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
March 31, 2024 ($ in millions)Commercial
Banking		Consumer
and Small Business
Banking		Wealth
and Asset
Management
General
Corporate
and Other(c)
Total
Net interest income (FTE)(a)
$663 1,152 59 (484)1,390 
Provision for (benefit from) credit losses71 84 — (61)94 
Net interest income after provision for (benefit from) credit losses$592 1,068 59 (423)1,296 
Noninterest income:

Wealth and asset management revenue$1 59 101 — 161 
Commercial payments revenue125 20 — — 145 
Consumer banking revenue— 132 1 2 135 
Capital markets fees96 1 — — 97 
Commercial banking revenue85 — — — 85 
Mortgage banking net revenue— 54 — — 54 
Other noninterest income17 1 — 5 23 
Securities gains, net1 — — 9 10 
Total noninterest income$325 267 102 16 710 
Noninterest expense:

Compensation and benefits$186 237 62 268 753 
Technology and communications4 7 — 106 117 
Net occupancy expense9 54 3 21 87 
Equipment expense7 13 — 17 37 
Loan and lease expense6 17 — 6 29 
Marketing expense1 22 — 9 32 
Card and processing expense2 19 — (1)20 
Other noninterest expense(b)
275 281 38 (327)267 
Total noninterest expense$490 650 103 99 1,342 
Income (loss) before income taxes (FTE)(a)
$427 685 58 (506)664 
Average assets$77,415 51,363 4,413 80,012 213,203 
(a)Includes FTE adjustments of $4 for Commercial Banking and $2 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.