8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): January 24, 2017

(Exact Name of Registrant as Specified in Its Charter)

OHIO

(State or Other Jurisdiction of Incorporation)

001-33653	31-0854434
(Commission File Number)	(IRS Employer Identification No.)
Fifth Third Center 38 Fountain Square Plaza, Cincinnati, Ohio	45263
(Address of Principal Executive Offices)	(Zip Code)

(800) 972-3030

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On January 24, 2017 Fifth Third Bancorp issued a press release and its quarterly and annual financial supplements announcing its earnings release for the fourth quarter of 2016. A copy of this press release and its quarterly and annual financial supplements are attached as Exhibits 99.1, 99.3 and 99.4, respectively. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01 Regulation FD Disclosure

On January 24, 2017 Fifth Third Bancorp issued a press release and its quarterly and annual financial supplements announcing its earnings release for the fourth quarter of 2016. A copy of this press release and its quarterly and annual financial supplements are attached as Exhibits 99.1, 99.3 and 99.4, respectively. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

For the benefit of its investors, Fifth Third Bancorp is furnishing information regarding its earnings conference call. A copy of this item is attached as Exhibit 99.2. The information in this Form 8-K and Exhibit attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 – Press release dated January 24, 2017

Exhibit 99.2 – Fourth Quarter Earnings Conference Call

Exhibit 99.3 – Quarterly Financial Supplement

Exhibit 99.4 – Annual Financial Supplement

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FIFTH THIRD BANCORP
	(Registrant)
January 24, 2017	/s/ Tayfun Tuzun
	Tayfun Tuzun
	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

		News Release
CONTACTS:	Sameer Gokhale (Investors)	FOR IMMEDIATE RELEASE
	(513) 534-2219	January 24, 2017
	Larry Magnesen (Media)
	(513) 534-8055

FIFTH THIRD ANNOUNCES FOURTH QUARTER EARNINGS PER DILUTED SHARE OF $0.49

2016 EARNINGS PER DILUTED SHARE OF $1.93

• 4Q16 net income available to common shareholders of $372 million, or $0.49 per diluted common share

• Reported results included the following items which had a positive $0.01 impact on reported 4Q16 EPS:

• A $16 million pre-tax (~$10 million after-tax*) reduction to net interest income for refunds offered to certain bankcard customers

• A $9 million pre-tax (~$6 million after-tax*) gain from the net exercise of the Vantiv warrant

• A $6 million pre-tax (~$4 million after-tax*) benefit related to the valuation of the Visa total return swap

• A $6 million tax benefit from the early adoption of an accounting standard

• Pre-tax income of $509 million and pre-provision net revenue (PPNR)** of $563 million in 4Q16

• Reported net interest income of $903 million and $909 million on an FTE basis, both flat sequentially; net interest income (FTE)** up 1% versus 4Q15; up 1% sequentially and 2% year-over-year excluding the refunds**

• Net interest margin of 2.84% and net interest margin (FTE)** of 2.86% (including a negative 5 basis point impact of the $16 million card refunds), down 2 bps sequentially and up 1 bp from 4Q15

• Average portfolio loans and leases of $93.0 billion, down 1% sequentially and down 1% from 4Q15

• Noninterest income of $620 million compared with $840 million in 3Q16, primarily driven by a gain of only $9 million in 4Q16 compared to a $280 million gain in 3Q16 from Vantiv-related transactions; see table on page 9

• Noninterest expense of $960 million, down 1% from 3Q16 and flat from 4Q15

• Credit trends

• 4Q16 net charge-offs (NCOs) of $73 million (0.31% of loans and leases) decreased from 3Q16 NCOs of $107 million (0.45% of loans and leases)

• Portfolio nonperforming asset (NPA) ratio of 0.80%, up 5 bps from 3Q16; total portfolio NPAs of $738 million

• 4Q16 provision expense of $54 million compared to $80 million in 3Q16 and $91 million in 4Q15

• Strong capital ratios***

• Common equity Tier 1 (CET1) ratio 10.40%; fully phased-in CET1 ratio** of 10.30%

• Tier 1 risk-based capital ratio 11.51%, Total risk-based capital ratio 15.00%, Leverage ratio 9.90%

• Tangible common equity ratio** of 8.91%; 8.87% excluding unrealized gains/losses

• Book value per share of $19.82; down 3% from 3Q16 and up 7% from 4Q15; tangible book value per share** of $16.60 down 4% from 3Q16 and up 8% from 4Q15

* Assumes a 35% tax rate.

** Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

*** Capital ratios estimated; presented under current U.S. capital regulations.

Fifth Third Bancorp (Nasdaq: FITB) today reported full year 2016 net income of $1.6 billion, down 9 percent from net income of $1.7 billion in 2015. After preferred dividends, 2016 net income available to common shareholders was $1.5 billion, or $1.93 per diluted share, down 9 percent compared with 2015 net income available to common shareholders of $1.6 billion, or $2.01 per diluted share. Results were significantly impacted by Vantiv-related transactions throughout 2015 and 2016.

Fourth quarter 2016 net income was $395 million, a decrease of 23 percent from net income of $516 million in the third quarter of 2016 and a decrease of 40 percent from net income of $657 million in the fourth quarter of 2015. Results were significantly impacted by Vantiv-related transactions explained in further detail below, including $280 million in pre-tax income in third quarter of 2016 and $469 million in pre-tax income in fourth quarter of 2015. After preferred dividends, net income available to common shareholders was $372 million, or $0.49 per diluted share, in the fourth quarter 2016, compared with $501 million, or $0.65 per diluted share, in the third quarter 2016, and $634 million, or $0.79 per diluted share, in the fourth quarter of 2015.

Fourth quarter 2016 included:

Income

• $9 million gain on the Vantiv warrant net exercise and share sale

• $6 million benefit related to the valuation of the Visa total return swap

• ($16 million) reduction to net interest income for refunds offered to certain bankcard customers

Expenses

• ($5 million) contribution to Fifth Third Foundation

Results also included a $6 million tax benefit from the early adoption of an accounting standard, and a $33 million annual payment recognized from Vantiv pursuant to the tax receivable agreement, which was recorded in other noninterest income.

Third quarter 2016 included:

Income

• $280 million gain from the termination and settlement of gross cash flows from existing Vantiv tax receivable agreements (TRA) and the expected obligation to terminate and settle the remaining TRA cash flows upon the exercise of put or call options

• $11 million gain on the sale of a non-branch facility

• ($28 million) non-cash impairment charge related to previously announced plans to sell or consolidate certain bank branches and land acquired for future branch expansion

• ($12 million) charge related to the valuation of the Visa total return swap

• ($9 million) charge from the transfer of certain nonconforming investments affected by the Volcker Rule to held-for-sale

• ($2 million) negative valuation adjustment on the Vantiv warrant

Results also included an $8 million beneficial tax impact in connection with certain commercial lease terminations.

Fourth quarter 2015 included:

Income

• $331 million gain on the sale of Vantiv shares

• $89 million gain on Vantiv warrant actions taken during the quarter

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• $49 million payment received from Vantiv to terminate a portion of its tax receivable agreement

• $21 million positive valuation adjustment on the remaining Vantiv warrant

• ($10 million) related to the valuation of the Visa total return swap

Expenses

• ($10 million) contribution to Fifth Third Foundation

Results also included a $31 million annual payment recognized from Vantiv pursuant to the tax receivable agreement, which was recorded in other noninterest income.

Earnings Highlights

	For the Three Months Ended										% Change
	December		September		June		March		December
	2016		2016(d)		2016(d)		2016(d)		2015		Seq		Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	395	$	516	$	328	$	326	$	657		(23%)		(40%)
Net income available to common shareholders	$	372	$	501	$	305	$	311	$	634		(26%)		(41%)
Common Share Data
Earnings per share, basic	$	0.49	$	0.66	$	0.40	$	0.40	$	0.80		(26%)		(39%)
Earnings per share, diluted		0.49		0.65		0.39		0.40		0.79		(25%)		(38%)
Cash dividends per common share		0.14		0.13		0.13		0.13		0.13		8%		8%
Common shares outstanding (in thousands)		750,479		755,582		766,346		770,471		785,080		(1%)		(4%)
Average common shares outstanding (in thousands):
Basic		746,107		750,886		759,105		773,564		784,855		(1%)		(5%)
Diluted		757,444		757,856		764,811		777,758		794,481		—		(5%)
Financial Ratios											bps Change
Return on average assets		1.11%		1.44%		0.92%		0.93%		1.83%		(33)		(72)
Return on average common equity		9.7		12.8		8.0		8.3		17.2		(310)		(750)
Return on average tangible common equity(b)		11.6		15.2		9.6		9.9		20.6		(360)		(900)
CET1 capital(c)		10.40		10.17		9.94		9.81		9.82		23		58
Tier I risk-based capital(c)		11.51		11.27		11.03		10.91		10.93		24		58
CET1 capital (fully-phased in)(b)(c)		10.30		10.09		9.86		9.72		9.72		21		58
Net interest margin(a)(b)		2.86		2.88		2.88		2.91		2.85		(2)		1
Efficiency(a)(b)		62.8		55.5		65.3		63.8		48.0		730		1480

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(c) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets used in the calculation of the tier I risk-based capital and common equity tier 1 ratios. Current period regulatory capital ratios are estimated.

(d) The Condensed Consolidated Financial Statements include a $1 million, $5 million and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

NA: Not applicable.

“Our fourth quarter results were strong and reflected our continued commitment to improving shareholder returns. With a balance sheet positioned to benefit from a rising rate environment, effective expense controls, and good credit quality, we achieved solid results during the quarter,” said Greg D. Carmichael, President and CEO of Fifth Third Bancorp.

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“We believe the hard work and focus of our employees throughout 2016 have positioned us well for 2017 and beyond. With our long-term goals firmly in place, we are executing on the initiatives that we have outlined under Project North Star. Although we did not assume improving economic conditions to help us achieve our targets, we should continue to benefit from a more positive operating environment.

“Also, our confidence in our underlying businesses and our outlook has allowed us to increase our quarterly common stock dividend 8 percent to $0.14. Our capital and liquidity ratios remain strong and growing.

“Lastly, during the quarter we announced plans to invest $30 billion in community development, and also announced a newly-created corporate responsibility and reputation office. Fifth Third is committed to delivering positive outcomes for our customers, our shareholders, and the communities we serve.”

Income Statement Highlights

	For the Three Months Ended										% Change
	December		September		June		March		December
	2016		2016(b)		2016(b)		2016(b)		2015		Seq		Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)(a)	$	909	$	913	$	908	$	909	$	904		—		1%
Provision for loan and lease losses		54		80		91		119		91		(33%)		(41%)
Total noninterest income		620		840		599		637		1,104		(26%)		(44%)
Total noninterest expense		960		973		983		986		963		(1%)		—
Income before income taxes (taxable equivalent)(a)	$	515	$	700	$	433	$	441	$	954		(26%)		(46%)
Taxable equivalent adjustment		6		6		6		6		5		—		20%
Applicable income tax expense		114		178		103		109		292		(36%)		(61%)
Net income	$	395	$	516	$	324	$	326	$	657		(23%)		(40%)
Less: Net income attributable to noncontrolling interests		—		—		(4)		—		—		—		—
Net income attributable to Bancorp	$	395	$	516	$	328	$	326	$	657		(23%)		(40%)
Dividends on preferred stock		23		15		23		15		23		53%		—
Net income available to common shareholders	$	372	$	501	$	305	$	311	$	634		(26%)		(41%)
Earnings per share, diluted	$	0.49	$	0.65	$	0.39	$	0.40	$	0.79		(25%)		(38%)

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(b) The Condensed Consolidated Financial Statements include a $1 million, $5 million and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

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Net Interest Income

	For the Three Months Ended										% Change
	December		September		June		March		December
	2016		2016		2016		2016		2015		Seq		Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)(a)	$	1,058	$	1,063	$	1,052	$	1,044	$	1,035		—		2%
Total interest expense		149		150		144		135		131		(1%)		14%
Net interest income (taxable equivalent)(a)	$	909	$	913	$	908	$	909	$	904		—		1%
Average Yield											bps Change
Yield on interest-earning assets (taxable equivalent)		3.33%		3.36%		3.34%		3.34%		3.26%		(3)		7
Rate paid on interest-bearing liabilities		0.70%		0.70%		0.67%		0.64%		0.61%		—		9
Net interest rate spread (taxable equivalent)		2.63%		2.66%		2.67%		2.70%		2.65%		(3)		(2)
Net interest margin (taxable equivalent)(a)		2.86%		2.88%		2.88%		2.91%		2.85%		(2)		1
Average Balances ($ in millions)											% Change
Loans and leases, including held for sale	$	93,981	$	94,417	$	94,807	$	94,078	$	94,587		—		(1%)
Total securities and other short-term investments		32,567		31,675		32,040		31,573		31,256		3%		4%
Total interest-earning assets		126,548		126,092		126,847		125,651		125,843		—		1%
Total interest-bearing liabilities		84,552		85,193		86,145		85,450		85,381		(1%)		(1%)
Bancorp shareholders’ equity		16,545		16,883		16,584		16,376		15,982		(2%)		4%

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

Excluding the $16 million reduction for the card refunds, net interest income (FTE)* of $925 million was up 1 percent from the third quarter of 2016. Reported net interest income of $903 million and net interest income (FTE)* of $909 million both decreased $4 million from the third quarter of 2016, primarily driven by the aforementioned card refunds, partially offset by improved short-term market rates in the fourth quarter and higher investment securities balances.

The adjusted net interest margin* was 2.91 percent, up 3 bps from the prior quarter, excluding the aforementioned card refunds. The reported net interest margin was 2.84 percent and the net interest margin (FTE)* was 2.86 percent, both decreasing 2 bps from the previous quarter, primarily due to a 5 basis point impact from the aforementioned card refunds. This impact was partially offset by improved short-term market rates in the fourth quarter.

Compared to the fourth quarter of 2015, adjusted net interest income (FTE)* was up 2 percent, excluding the card refunds. Adjusted net interest margin (FTE)* was up 6 bps from the fourth quarter of 2015, excluding the card refunds. Reported net interest income and net interest income (FTE)*, increased by $4 million and $5 million, or 2 percent, respectively from the fourth quarter of 2015. The reported net interest margin and net interest margin (FTE)* increased by 1 bp year-over-year. The increase in net interest income was driven by the impact of higher investment securities balances and improved short-term market rates, partially offset by the previously-mentioned card refunds. The increase in the net interest margin was driven by improved short-term market rates, partially offset by the previously-mentioned card refunds.

Securities

Average securities and other short-term investments were $32.6 billion in the fourth quarter of 2016 compared to $31.7 billion in the previous quarter and $31.3 billion in the fourth quarter of 2015. Average balances of other short-term investments decreased by $18 million sequentially to $1.8 billion.

* Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 32.

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Loans

	For the Three Months Ended										% Change
	December		September		June		March		December
	2016		2016		2016		2016		2015		Seq		Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	42,548	$	43,116	$	43,876	$	43,089	$	43,154		(1%)		(1%)
Commercial mortgage loans		6,957		6,888		6,831		6,886		7,032		1%		(1%)
Commercial construction loans		3,890		3,848		3,551		3,297		3,141		1%		24%
Commercial leases		3,921		3,962		3,898		3,874		3,839		(1%)		2%
Total commercial loans and leases	$	57,316	$	57,814	$	58,156	$	57,146	$	57,166		(1%)		—
Consumer:
Residential mortgage loans	$	14,854	$	14,455	$	14,046	$	13,788	$	13,504		3%		10%
Home equity		7,779		7,918		8,054		8,217		8,360		(2%)		(7%)
Automobile loans		10,162		10,508		10,887		11,283		11,670		(3%)		(13%)
Credit card		2,180		2,165		2,134		2,179		2,218		1%		(2%)
Other consumer loans and leases		673		651		654		662		676		3%		—
Total consumer loans and leases	$	35,648	$	35,697	$	35,775	$	36,129	$	36,428		—		(2%)
Total average portfolio loans and leases	$	92,964	$	93,511	$	93,931	$	93,275	$	93,594		(1%)		(1%)
Average loans held for sale	$	1,017	$	906	$	876	$	803	$	993		12%		2%

Average portfolio loan and lease balances decreased $547 million, or 1 percent, sequentially and decreased $630 million, or 1 percent, from the fourth quarter of 2015. The sequential and year-over-year decrease was driven by both declines in automobile loans related to the strategic decision to reduce auto loan originations to improve return on shareholders’ equity and deliberate exits from certain commercial and industrial (C&I) loans that did not meet risk-adjusted profitability targets. The sequential and year-over-year decreases were partially offset by increases in residential mortgage and commercial real estate loans. Period end portfolio loans and leases of $92.1 billion decreased $1.1 billion, or 1 percent, sequentially and $484 million, or 1 percent, from a year ago. The sequential decrease was primarily due to decreases in C&I and automobile loans, partially offset by an increase in residential mortgage loans. The year-over-year decline was primarily driven by decreases in automobile and home equity loans, partially offset by increases in residential mortgage and commercial construction loans.

Average commercial portfolio loan and lease balances decreased $498 million, or 1 percent, sequentially and were flat from the fourth quarter of 2015. Average C&I loans decreased $568 million, or 1 percent, from the prior quarter and decreased $606 million, or 1 percent, from the fourth quarter of 2015. Average commercial real estate loans increased $111 million, or 1 percent, from the prior quarter and increased $674 million, or 7 percent, from the fourth quarter of 2015. Within commercial real estate, growth was relatively balanced as average commercial mortgage balances increased $69 million and average commercial construction balances increased $42 million sequentially. Period end commercial line utilization of 34% decreased 95 bps from the third quarter of 2016 and decreased 88 bps from the fourth quarter of 2015.

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Average consumer portfolio loan and lease balances were flat sequentially and decreased $780 million, or 2 percent, from the fourth quarter of 2015. This was primarily driven by average automobile loans which decreased 3 percent sequentially and 13 percent from a year ago. Average residential mortgage loans increased 3 percent sequentially and 10 percent from the previous year. Average home equity loans decreased 2 percent sequentially and 7 percent from the fourth quarter of 2015. Average credit card loans increased 1 percent sequentially and decreased 2 percent from the fourth quarter of 2015.

Deposits

	For the Three Months Ended										% Change
	December		September		June		March		December
	2016		2016		2016		2016		2015		Seq		Yr/Yr
Average Deposits ($ in millions)
Demand	$	36,412	$	35,918	$	35,912	$	35,201	$	36,254		1%		—
Interest checking		25,644		24,475		24,714		25,740		25,296		5%		1%
Savings		13,979		14,232		14,576		14,601		14,615		(2%)		(4%)
Money market		20,476		19,706		19,243		18,655		18,775		4%		9%
Foreign office(a)		497		524		484		483		736		(5%)		(32%)
Total transaction deposits	$	97,008	$	94,855	$	94,929	$	94,680	$	95,676		2%		1%
Other time		3,941		4,020		4,044		4,035		4,052		(2%)		(3%)
Total core deposits	$	100,949	$	98,875	$	98,973	$	98,715	$	99,728		2%		1%
Certificates - $100,000 and over		2,539		2,768		2,819		2,815		3,305		(8%)		(23%)
Other		115		749		467		—		7		(85%)		NM
Total average deposits	$	103,603	$	102,392	$	102,259	$	101,530	$	103,040		1%		1%

(a) Includes commercial customer Eurodollar sweep balances for which the Bancorp pays rates comparable to other commercial deposit accounts.

Average core deposits increased $2.1 billion, or 2 percent, sequentially and increased $1.2 billion, or 1 percent, from the fourth quarter of 2015. Average transaction deposits increased $2.2 billion, or 2 percent from the third quarter of 2016 and increased $1.3 billion, or 1 percent from the fourth quarter of 2015. Sequential performance was primarily driven by increased commercial interest checking account balances, as well as consumer money market account balances that benefited from the recent enactment of new money market reforms, partially offset by lower savings account balances. The year-over-year increase was primarily driven by higher consumer money market and consumer interest checking account balances, partially offset by lower savings and foreign office account balances. Other time deposits decreased by 2 percent sequentially and 3 percent year-over-year.

Average total commercial transaction deposits of $45 billion increased 3 percent sequentially and decreased 2 percent from the fourth quarter of 2015. Average total consumer transaction deposits of $52 billion increased 2 percent sequentially and increased 5 percent from the fourth quarter of 2015.

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Wholesale Funding

	For the Three Months Ended										% Change
	December 2016		September 2016		June 2016		March 2016		December 2015		Seq		Yr/Yr
Average Wholesale Funding ($ in millions)
Certificates - $100,000 and over	$	2,539	$	2,768	$	2,819	$	2,815	$	3,305		(8%)		(23%)
Other deposits		115		749		467		—		7		(85%)		NM
Federal funds purchased		280		446		693		608		1,182		(37%)		(76%)
Other short-term borrowings		1,908		2,171		3,754		3,564		1,675		(12%)		14%
Long-term debt		15,173		16,102		15,351		14,949		15,738		(6%)		(4%)
Total average wholesale funding	$	20,015	$	22,236	$	23,084	$	21,936	$	21,907		(10%)		(9%)

Average wholesale funding of $20.0 billion decreased $2.2 billion, or 10 percent, sequentially and decreased $1.9 billion, or 9 percent, compared with the fourth quarter of 2015. The sequential decrease in average wholesale funding was primarily driven by a decline in long-term debt largely due to maturities early in the fourth quarter. The year-over-year decline reflected a decrease in federal funds purchased resulting from an increase in deposit balances.

Noninterest Income

	For the Three Months Ended										% Change
	December 2016		September 2016		June 2016		March 2016		December 2015		Seq		Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	141	$	143	$	138	$	137	$	144		(1%)		(2%)
Corporate banking revenue		101		111		117		102		104		(9%)		(3%)
Mortgage banking net revenue		65		66		75		78		74		(2%)		(12%)
Wealth and asset management revenue		100		101		101		102		102		(1%)		(2%)
Card and processing revenue		79		79		82		79		77		—		3%
Other noninterest income		137		336		80		136		602		(59%)		(77%)
Securities gains (losses), net		(3)		4		6		3		1		NM		NM
Total noninterest income	$	620	$	840	$	599	$	637	$	1,104		(26%)		(44%)

Noninterest income of $620 million decreased $220 million sequentially and decreased $484 million compared with prior year results. The sequential and year-over-year comparisons reflect the impacts described below.

8

Noninterest Income excluding certain items

	For the Three Months Ended						% Change
	December 2016		September 2016		December 2015		Seq		Yr/Yr
Noninterest Income excluding certain items ($ in millions)
Noninterest income (U.S. GAAP)	$	620	$	840	$	1,104
Gain on Vantiv warrant actions		(9)		—		(89)
Valuation of Visa total return swap		(6)		12		10
Gain from termination and settlement of Vantiv TRA and the expected obligation to terminate and settle the remaining TRA cash flows upon exercise of put or call options		—		(280)		(49)
Gain on sale of a non-branch facility		—		(11)		—
Gain on sale of Vantiv shares		—		—		(331)
Vantiv warrant valuation		—		2		(21)
Transfer of certain nonconforming investments under Volcker to HFS		—		9		—
Branch / land impairment charge		—		28		—
Securities (gains) / losses		3		(4)		(1)
Noninterest income excluding certain items(a)	$	608	$	596	$	623		2%		(2%)

(a) Non-GAAP measure; see discussion of non-GAAP on page 32

Excluding the items in the table above, noninterest income of $608 million increased $12 million, or 2 percent, from the previous quarter and decreased $15 million, or 2 percent, from the fourth quarter of 2015. The sequential increase was primarily due to the $33 million annual payment received from Vantiv pursuant to the tax receivable agreement in the fourth quarter of 2016, partially offset by a decrease in corporate banking revenue. The year-over-year decrease was driven by a decline in mortgage banking net revenue.

Service charges on deposits of $141 million decreased 1 percent from the third quarter of 2016, and decreased 2 percent compared with the fourth quarter of 2015. The sequential decrease primarily reflected a 2 percent decrease in commercial service charges, as well as a 1 percent decrease in retail service charges. The decrease from the fourth quarter of 2015 was primarily due to a 5 percent decrease in retail service charges.

Corporate banking revenue of $101 million decreased 9 percent compared to the third quarter of 2016 and decreased 3 percent from the fourth quarter of 2015. The sequential comparison reflects decreases in institutional sales revenue and lease remarketing fees, partially offset by an increase in foreign exchange fees. The year-over-year decrease was primarily driven by lower lease remarketing fees and letter of credit fees, partially offset by higher foreign exchange fees and institutional sales revenue.

9

Mortgage banking net revenue was $65 million in the fourth quarter of 2016, down $1 million from the third quarter of 2016 and down $9 million from the fourth quarter of 2015. Originations of $2.7 billion in the current quarter decreased 5 percent sequentially and increased 54 percent from the same quarter last year. Fourth quarter 2016 originations resulted in $30 million of origination fees and gains on loan sales, compared with $61 million during the previous quarter and $37 million during the fourth quarter of 2015. Net mortgage servicing revenue (which consists of gross mortgage servicing fees, MSR amortization, and net valuation adjustments on MSRs and mark-to-market adjustments on free-standing derivatives used to economically hedge the MSR portfolio) was $35 million this quarter, $5 million in the third quarter of 2016, and $37 million in the fourth quarter of 2015. Gross mortgage servicing fees were $48 million this quarter, $49 million in the third quarter of 2016, and $53 million in the fourth quarter of 2015. MSR amortization was $35 million this quarter, $35 million in the third quarter of 2016, and $29 million in the fourth quarter of 2015. Net servicing asset valuation adjustments resulted in a positive $23 million impact in the fourth quarter of 2016, negative $9 million in the third quarter of 2016, and positive $13 million in the fourth quarter of 2015.

Wealth and asset management revenue of $100 million decreased 1 percent from the third quarter of 2016 and decreased 2 percent from the fourth quarter of 2015. The sequential decrease was primarily driven by lower personal asset management fees. The year-over-year decline was primarily driven by lower securities and brokerage fees, partially offset by an increase in institutional trust fees.

Card and processing revenue of $79 million in the fourth quarter of 2016 was flat sequentially and increased 3 percent from the fourth quarter of 2015. The year-over-year increase reflected higher spend volume and actively used cards.

Other noninterest income totaled $137 million in the fourth quarter of 2016, compared with $336 million in the previous quarter and $602 million in the fourth quarter of 2015. As previously described, the results included the adjustments in the table on page 9 with the exception of securities gains / (losses) in all comparable periods. Excluding these items, other noninterest income of $122 million increased approximately $26 million, or 27 percent, from the third quarter of 2016 and was flat from the fourth quarter of 2015. The sequential increase was primarily due to the $33 million annual payment received from Vantiv pursuant to the tax receivable agreement in the fourth quarter of 2016.

Net losses on investment securities were $3 million in the fourth quarter of 2016, compared with $4 million net gains in the previous quarter and a $1 million net gain in the fourth quarter of 2015.

Noninterest Expense

	For the Three Months Ended										% Change
	December 2016		September 2016		June 2016		March 2016		December 2015		Seq			Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	403	$	400	$	407	$	403	$	386		1	%		4	%
Employee benefits		76		78		85		100		74		(3	%)		3	%
Net occupancy expense		73		73		75		77		83		—			(12	%)
Technology and communications		56		62		60		56		59		(10	%)		(5	%)
Equipment expense		29		29		30		30		32		—			(9	%)
Card and processing expense		31		30		37		35		40		3	%		(23	%)
Other noninterest expense		292		301		289		285		289		(3	%)		1	%
Total noninterest expense	$	960	$	973	$	983	$	986	$	963		(1	%)		—

10

Noninterest expense of $960 million declined $13 million, or 1 percent, compared with the third quarter of 2016 and was flat compared with the fourth quarter of 2015. The sequential decrease primarily reflected lower technology and communications expense, the change in provision for unfunded commitments, and seasonally lower marketing expense. The year-over-year decrease was primarily driven by lower card and processing expense, predominantly due to contract renegotiations as well as lower net occupancy expense, partially offset by increased compensation expense mainly as a result of personnel additions in risk and compliance and information technology.

Credit Quality

	For the Three Months Ended
	December 2016		September 2016		June 2016		March 2016		December 2015
Total net losses charged-off ($ in millions)
Commercial and industrial loans	($	25)	($	61)	($	39)	($	46)	($	30)
Commercial mortgage loans		(2)		(2)		(6)		(6)		(3)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		—		(1)		(2)		(1)
Residential mortgage loans		(2)		(2)		(2)		(2)		(3)
Home equity		(6)		(7)		(6)		(8)		(9)
Automobile loans		(11)		(9)		(8)		(9)		(9)
Credit card		(19)		(20)		(21)		(20)		(19)
Other consumer loans and leases		(7)		(6)		(4)		(3)		(6)
Total net losses charged-off	($	73)	($	107)	($	87)	($	96)	($	80)
Total losses charged-off	($	97)	($	137)	($	105)	($	116)	($	105)
Total recoveries of losses previously charged-off		24		30		18		20		25
Total net losses charged-off	($	73)	($	107)	($	87)	($	96)	($	80)
Ratios (annualized)
Net losses charged-off as a percent of average portfolio loans and leases (excluding held for sale)		0.31%		0.45%		0.37%		0.42%		0.34%
Commercial		0.20%		0.43%		0.32%		0.38%		0.24%
Consumer		0.49%		0.49%		0.45%		0.48%		0.49%

Net charge-offs were $73 million, or 31 bps of average portfolio loans and leases on an annualized basis, in the fourth quarter of 2016 compared with net charge-offs of $107 million, or 45 bps, in the third quarter of 2016 and $80 million, or 34 bps, in the fourth quarter of 2015.

Commercial net charge-offs were $28 million, or 20 bps, and were down $35 million sequentially. The decrease was primarily due to lower charge-offs of C&I loans, which decreased by $36 million from the third quarter of 2016. Commercial real estate net charge-offs were flat from the previous quarter.

Consumer net charge-offs were $45 million, or 49 bps, and were up $1 million sequentially. Compared with the previous quarter, net charge-offs on residential mortgage loans were flat. Net charge-offs on the auto portfolio were up $2 million. Net charge-offs on home equity and credit card loans were each down $1 million from the third quarter of 2016. Net charge-offs on other consumer loans of $7 million were up $1 million sequentially.

11

	For the Three Months Ended
	December		September		June		March		December
	2016		2016		2016		2016		2015
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	1,272	$	1,299	$	1,295	$	1,272	$	1,261
Total net losses charged-off		(73)		(107)		(87)		(96)		(80)
Provision for loan and lease losses		54		80		91		119		91
Allowance for loan and lease losses, ending	$	1,253	$	1,272	$	1,299	$	1,295	$	1,272
Reserve for unfunded commitments, beginning	$	162	$	151	$	144	$	138	$	134
Provision for unfunded commitments		(1)		11		7		6		4
Reserve for unfunded commitments, ending	$	161	$	162	$	151	$	144	$	138
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,253	$	1,272	$	1,299	$	1,295	$	1,272
Reserve for unfunded commitments		161		162		151		144		138
Total allowance for credit losses	$	1,414	$	1,434	$	1,450	$	1,439	$	1,410
Allowance for loan and lease losses ratio
As a percent of portfolio loans and leases		1.36%		1.37%		1.38%		1.38%		1.37%
As a percent of nonperforming loans and leases(a)		190%		212%		188%		185%		252%
As a percent of nonperforming assets(a)		170%		182%		161%		157%		197%

(a) Excludes nonaccrual loans in loans held for sale.

Provision for loan and lease losses totaled $54 million in the fourth quarter of 2016. The allowance represented 1.36 percent of total portfolio loans and leases outstanding as of quarter end, compared with 1.37 percent last quarter, and represented 190 percent of nonperforming loans and leases, and 170 percent of nonperforming assets.

Provision for loan and lease losses decreased $26 million from the third quarter of 2016 and $37 million from the fourth quarter of 2015, impacted by improving criticized assets. The allowance for loan and lease losses decreased $19 million sequentially. As of December 31, the reserve allocated to the energy portfolio was approximately 4.04%, down from approximately 4.95% last quarter.

12

	As of
	December 2016		September 2016		June 2016		March 2016		December 2015
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	302	$	235	$	254	$	278	$	82
Commercial mortgage loans		27		31		39		51		56
Commercial construction loans		—		—		—		—		—
Commercial leases		2		—		4		4		—
Residential mortgage loans		17		19		27		25		28
Home equity		55		59		61		61		62
Total nonaccrual portfolio loans and leases (excludes restructured loans)	$	403	$	344	$	385	$	419	$	228
Nonaccrual restructured portfolio commercial loans and leases(b)		192		194		242		210		203
Nonaccrual restructured portfolio consumer loans and leases		65		63		66		72		75
Total nonaccrual portfolio loans and leases	$	660	$	601	$	693	$	701	$	506
Repossessed property		15		13		15		17		18
OREO		63		84		97		107		123
Total nonperforming portfolio assets(a)	$	738	$	698	$	805	$	825	$	647
Nonaccrual loans held for sale		4		91		20		3		1
Nonaccrual restructured loans held for sale		9		9		—		2		11
Total nonperforming assets	$	751	$	798	$	825	$	830	$	659
Restructured Portfolio Consumer loans and leases (accrual)	$	959	$	972	$	982	$	998	$	979
Restructured Portfolio Commercial loans and leases (accrual)(b)	$	321	$	408	$	431	$	461	$	491
Total loans and leases 30-89 days past due (accrual)	$	231	$	205	$	196	$	208	$	244
Total loans and leases 90 days past due (accrual)	$	84	$	76	$	65	$	73	$	75
Nonperforming portfolio loans and leases as a percent of portfolio loans, leases and other assets, including OREO(a)		0.72%		0.64%		0.74%		0.75%		0.55%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)		0.80%		0.75%		0.86%		0.88%		0.70%

(a) Does not include nonaccrual loans held for sale.

(b) As of December 31, 2016, excludes $7 million of restructured accruing loans and $19 million of restructured nonaccrual loans associated with a consolidated VIE in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party. As of September 30, 2016, June 30, 2016, March 31, 2016 and December 31, 2015, excludes $7 million of restructured accruing loans and $20 million of restructured nonaccrual loans associated with a consolidated VIE in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party.

Total nonperforming portfolio assets increased $40 million, or 6 percent, from the previous quarter to $738 million. Portfolio nonperforming loans (NPLs) at quarter-end increased $59 million, or 10 percent, from the previous quarter to $660 million, or 0.72 percent of total portfolio loans, leases and OREO.

Commercial portfolio NPLs increased $63 million from last quarter to $523 million, or 0.93 percent of commercial portfolio loans, leases and OREO. Consumer portfolio NPLs decreased $4 million from last quarter to $137 million, or 0.38 percent of consumer portfolio loans, leases and OREO.

OREO balances were down $21 million from the prior quarter to $63 million, and included $34 million in commercial OREO and $29 million in consumer OREO. Repossessed personal property increased $2 million from the prior quarter to $15 million.

Loans over 90 days past due and still accruing increased $11 million from the third quarter of 2016 to $84 million. Loans 30-89 days past due of $232 million were up $27 million from the previous quarter. The above delinquency figures exclude nonaccruals described previously.

13

Capital and Liquidity Position

	For the Three Months Ended
	December 2016			September 2016			June 2016			March 2016			December 2015
Capital Position
Average total Bancorp shareholders’ equity to average assets		11.66	%		11.83	%		11.60	%		11.57	%		11.26	%
Tangible equity(a)		9.82	%		9.73	%		9.59	%		9.51	%		9.55	%
Tangible common equity (excluding unrealized gains/losses)(a)		8.87	%		8.78	%		8.64	%		8.55	%		8.59	%
Tangible common equity (including unrealized gains/losses)(a)		8.91	%		9.24	%		9.18	%		8.97	%		8.71	%
Regulatory capital ratios:
CET1 capital(b)		10.40	%		10.17	%		9.94	%		9.81	%		9.82	%
Tier I risk-based capital(b)		11.51	%		11.27	%		11.03	%		10.91	%		10.93	%
Total risk-based capital(b)		15.00	%		14.88	%		14.66	%		14.66	%		14.13	%
Tier I leverage		9.90	%		9.80	%		9.64	%		9.57	%		9.54	%
CET1 capital (fully phased-in)(a)(b)		10.30	%		10.09	%		9.86	%		9.72	%		9.72	%
Book value per share		$19.82			$20.44			$20.09			$19.46			$18.48
Tangible book value per share(a)		$16.60			$17.22			$16.93			$16.32			$15.39
Modified liquidity coverage ratio (LCR)(c)(d)		128	%		115	%		110	%		118	%		N/A

(a) Non-GAAP measure; see discussion of non-GAAP and Reg G. reconciliation beginning on page 32.

(b) Under the banking agencies Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(c) Current period regulatory capital and liquidity ratios are estimated.

(d) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016.

Capital ratios remained strong and grew during the quarter. The CET1 ratio was 10.40 percent, the tangible common equity to tangible assets ratio* was 8.87 percent (excluding unrealized gains/losses), and 8.91 percent (including unrealized gains/losses). The Tier I risk-based capital ratio was 11.51 percent, the Total risk-based capital ratio was 15.00 percent, and the Tier I leverage ratio was 9.90 percent.

Book value per share at December 31, 2016 was $19.82 and tangible book value per share* was $16.60, compared with the September 30, 2016 book value per share of $20.44 and tangible book value per share* of $17.22.

Fifth Third entered into or completed multiple share repurchases during the quarter. Below is a summary of those share repurchases.

• On November 7, 2016, Fifth Third settled the forward contract related to the August 5, 2016 $240 million share repurchase agreement. An additional 1.1 million shares were repurchased in connection with the completion of this agreement.

• On December 20, 2016, Fifth Third initially settled a share repurchase agreement whereby Fifth Third would purchase $155 million of its outstanding stock. This reduced fourth quarter common shares outstanding by 4.8 million shares. Settlement of the forward contract related to this agreement is expected to occur on or before March 15, 2017.

* Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 32.

14

Tax Rate

The effective tax rate was 22.6 percent in the fourth quarter of 2016 compared with 25.6 percent in the third quarter of 2016 and 30.7 percent in the fourth quarter of 2015. The tax rate in the fourth quarter of 2016 was impacted by a $6 million tax benefit associated with the early adoption of ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting”, using the modified retrospective transition method. Additionally, the early adoption resulted in incremental tax expense of $1 million in the first quarter of 2016 and $5 million in the second quarter of 2016. The tax rate in the third quarter of 2016 was impacted by Vantiv-related gains, which were partially offset by an $8 million tax benefit in connection with certain commercial lease terminations.

Other

On November 21, 2016, Vantiv, Inc. conducted a secondary offering of 4.8 million shares of its Class A common stock on behalf of Fifth Third. Vantiv also concurrently repurchased 850,000 shares of Vantiv Class A common stock from Fifth Third. The 5.65 million shares sold by Fifth Third through these transactions were obtained through the net exercise of the entire remaining warrant position in Vantiv Holding, LLC and the exchange of those Vantiv Holding, LLC units for Class A shares of common stock in Vantiv, Inc. The warrant position gave Fifth Third the right to purchase approximately 7.8 million Class C units at a $15.98 strike price, which was settled through the net issuance of 5.65 million units. For more detail, see the 8-K dated November 22, 2016.

Fifth Third Bank owns approximately 35 million units representing a 17.9 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm. Based upon Vantiv’s closing price of $59.62 on December 31, 2016, our interest in Vantiv was valued at approximately $2.1 billion. Next month in our 10-K, we will update our disclosure of the carrying value of our interest in Vantiv stock, which was $404 million as of September 30, 2016. The difference between the market value and the book value of Fifth Third’s interest in Vantiv’s shares is not recognized in Fifth Third’s equity or capital.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live by Thomson Financial and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”). Institutional investors can access the call via Thomson Financial’s password-protected event management site, StreetEvents (www.streetevents.com).

Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address. Additionally, a telephone replay of the conference call will be available beginning approximately two hours after the conference call until Tuesday, February 7, 2017 by dialing 855-859-2056 for domestic access or 404-537-3406 for international access (passcode 44810588#).

15

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of December 31, 2016, the Company had $142 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart^® locations, most open seven days a week, inside select grocery stores and 2,495 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third also has a 17.9% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2016, had $291 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ^® Global Select Market under the symbol “FITB.”

FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “anticipates,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated from time to time by our Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. There is a risk that additional information may become known during the company’s quarterly closing process or as a result of subsequent events that could affect the accuracy of the statements and financial information contained herein.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) general economic or real estate market conditions, either nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, weaken or are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of funding and liquidity; (7) maintaining capital requirements and adequate sources of funding and liquidity may limit Fifth Third’s operations and potential growth; (8) changes and trends in capital markets; (9) problems encountered by larger or similar financial institutions may adversely affect the banking industry and/or Fifth Third; (10) competitive pressures among depository institutions increase significantly; (11) effects of critical accounting policies and judgments; (12) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (13) legislative or regulatory changes or actions, or significant litigation, adversely affect Fifth Third, one or more acquired entities and/or the combined company or the businesses in which Fifth Third, one or more acquired entities and/or the combined company are engaged, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; (14) ability to maintain favorable ratings from rating agencies; (15) fluctuation of Fifth Third’s stock price; (16) ability to attract and retain key personnel; (17) ability to receive dividends from its subsidiaries; (18) potentially dilutive effect of future acquisitions on current shareholders’ ownership of Fifth Third; (19) effects of accounting or financial results of one or more acquired entities; (20) difficulties from Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv, LLC; (21) loss of income from any sale or potential sale of businesses; (22) difficulties in separating the operations of any branches or other assets divested; (23) losses or adverse impacts on the carrying values of branches and long-lived assets in connection with their sales or anticipated sales; (24) inability to achieve expected benefits from branch consolidations and planned sales within desired timeframes, if at all; (25) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; and (26) the impact of reputational risk created by these developments on such matters as business generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements.

In this release, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide GAAP reconciliations for non-GAAP measures in our earnings release and presentation, both of which are available in the investor relations section of our website, www.53.com.

# # #

16

Quarterly Financial Review for December 31, 2016

Table of Contents

Financial Highlights	18-19
Consolidated Statements of Income	20
Consolidated Statements of Income (Taxable Equivalent)	21
Consolidated Balance Sheets	22-23
Consolidated Statements of Changes in Equity	24
Average Balance Sheet and Yield Analysis	25-27
Summary of Loans and Leases	28
Regulatory Capital	29
Summary of Credit Loss Experience	30
Asset Quality	31
Regulation G Non-GAAP Reconciliation	32-33
Segment Presentation	34

17

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended						% / bps Change				Year to Date				% / bps Change
	December 2016		September 2016(m)		December 2015		Seq		Yr/Yr		December 2016		December 2015		Yr/Yr
Income Statement Data
Net interest income(a)(d)	$	909	$	913	$	904		—		1%	$	3,640	$	3,554		2%
Noninterest income		620		840		1,104		(26%)		(44%)		2,696		3,003		(10%)
Total revenue(a)		1,529		1,753		2,008		(13%)		(24%)		6,336		6,557		(3%)
Provision for loan and lease losses		54		80		91		(33%)		(41%)		343		396		(13%)
Noninterest expense		960		973		963		(1%)		—		3,903		3,775		3%
Net income attributable to Bancorp		395		516		657		(23%)		(40%)		1,564		1,712		(9%)
Net income available to common shareholders		372		501		634		(26%)		(41%)		1,489		1,637		(9%)
Earnings Per Share Data
Net income allocated to common shareholders	$	368	$	496	$	627		(26%)		(41%)	$	1,474	$	1,622		(9%)
Average common shares outstanding (in thousands):
Basic		746,107		750,886		784,855		(1%)		(5%)		757,367		798,628		(5%)
Diluted		757,444		757,856		794,481		—		(5%)		764,430		807,659		(5%)
Earnings per share, basic		0.49		0.66		0.80		(26%)		(39%)		1.95		2.03		(4%)
Earnings per share, diluted		0.49		0.65		0.79		(25%)		(38%)		1.93		2.01		(4%)
Common Share Data
Cash dividends per common share	$	0.14	$	0.13	$	0.13		8%		8%	$	0.53	$	0.52		2%
Book value per share		19.82		20.44		18.48		(3%)		7%		19.82		18.48		7%
Market price per share		26.97		20.46		20.10		32%		34%		26.97		20.10		34%
Common shares outstanding (in thousands)		750,479		755,582		785,080		(1%)		(4%)		750,479		785,080		(4%)
Market capitalization	$	20,240	$	15,459	$	15,780		31%		28%	$	20,240	$	15,780		28%
Financial Ratios
Return on average assets		1.11%		1.44%		1.83%		(33)		(72)		1.10%		1.22%		(12)
Return on average common equity		9.7%		12.8%		17.2%		(310)		(750)		9.8%		11.3%		(151)
Return on average tangible common equity(b)(d)		11.6%		15.2%		20.6%		(360)		(900)		11.6%		13.5%		(193)
Noninterest income as a percent of total revenue		41%		48%		55%		(700)		(1,400)		43%		46%		(300)
Dividend payout ratio		28.6%		19.7%		16.3%		890		1,230		27.2%		25.6%		160
Average total Bancorp shareholders’ equity as a percent of average assets		11.66%		11.83%		11.26%		(17)		40		11.67%		11.33%		34
Tangible common equity(c)(d)		8.87%		8.78%		8.59%		9		28		8.87%		8.59%		28
Net interest margin(a)(d)		2.86%		2.88%		2.85%		(2)		1		2.88%		2.88%		—
Efficiency(a)(d)		62.8%		55.5%		48.0%		730		1,480		61.6%		57.6%		400
Effective tax rate		22.6%		25.6%		30.7%		(300)		(810)		24.4%		27.8%		(340)
Credit Quality
Net losses charged-off	$	73	$	107	$	80		(32%)		(9%)	$	362	$	446		(19%)
Net losses charged-off as a percent of average portfolio loans and leases		0.31%		0.45%		0.34%		(14)		(3)		0.39%		0.48%		(9)
ALLL as a percent of portfolio loans and leases		1.36%		1.37%		1.37%		(1)		(1)		1.36%		1.37%		(1)
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.54%		1.54%		1.52%		—		2		1.54%		1.52%		2
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.80%		0.75%		0.70%		5		10		0.80%		0.70%		10
Average Balances
Loans and leases, including held for sale	$	93,981	$	94,417	$	94,587		—		(1%)	$	94,320	$	93,339		1%
Total securities and other short-term investments		32,567		31,675		31,256		3%		4%		31,965		30,245		6%
Total assets		141,837		142,726		141,973		(1%)		—		142,266		140,078		2%
Transaction deposits(f)		97,008		94,855		95,676		2%		1%		95,371		95,244		—
Core deposits(g)		100,949		98,875		99,728		2%		1%		99,381		99,295		—
Wholesale funding(h)		20,015		22,236		21,907		(10%)		(9%)		21,813		20,210		8%
Bancorp shareholders’ equity		16,545		16,883		15,982		(2%)		4%		16,597		15,865		5%
Capital and Liquidity Ratios(i)
CET1 capital(j)		10.40%		10.17%		9.82%		23		58		10.40%		9.82%		58
Tier I risk-based capital(j)		11.51%		11.27%		10.93%		24		58		11.51%		10.93%		58
Total risk-based capital(j)		15.00%		14.88%		14.13%		12		87		15.00%		14.13%		87
Tier I leverage		9.90%		9.80%		9.54%		10		36		9.90%		9.54%		36
CET1 capital (fully phased-in)(j)(d)		10.30%		10.09%		9.72%		21		58		10.30%		9.72%		58
Modified liquidity coverage ratio (LCR)(l)		128%		115%		N/A		12%		—		128%		N/A		—
Operations
Banking centers		1,191		1,191		1,254		—		(4%)		1,191		1,254		(4%)
ATMs		2,495		2,497		2,593		—		(4%)		2,495		2,593		(4%)
Full-time equivalent employees		17,844		18,072		18,261		(1%)		(2%)		17,844		18,261		(2%)

(a) Presented on a fully taxable equivalent basis.

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity (average common equity less goodwill and intangible assets).

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and AOCI).

(d) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(e) Excludes nonaccrual loans held for sale.

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(g) Includes transaction deposits plus other time deposits.

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(i) Current period regulatory capital ratios are estimates.

(j) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(k) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(l) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016.

(m) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

18

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	December 2016			September 2016(m)			June 2016(m)			March 2016(m)			December 2015
Income Statement Data
Net interest income(a)(d)	$	909		$	913		$	908		$	909		$	904
Noninterest income		620			840			599			637			1,104
Total revenue(a)		1,529			1,753			1,507			1,546			2,008
Provision for loan and lease losses		54			80			91			119			91
Noninterest expense		960			973			983			986			963
Net income attributable to Bancorp		395			516			328			326			657
Net income available to common shareholders		372			501			305			311			634
Earnings Per Share Data
Net income allocated to common shareholders	$	368		$	496		$	302		$	308		$	627
Average common shares outstanding (in thousands):
Basic		746,107			750,886			759,105			773,564			784,855
Diluted		757,444			757,856			764,811			777,758			794,481
Earnings per share, basic		0.49			0.66			0.40			0.40			0.80
Earnings per share, diluted		0.49			0.65			0.39			0.40			0.79
Common Share Data
Cash dividends per common share	$	0.14		$	0.13		$	0.13		$	0.13		$	0.13
Book value per share		19.82			20.44			20.09			19.46			18.48
Market price per share		26.97			20.46			17.59			16.69			20.10
Common shares outstanding (in thousands)		750,479			755,582			766,346			770,471			785,080
Market capitalization	$	20,240		$	15,459		$	13,480		$	12,859		$	15,780
Financial Ratios
Return on average assets		1.11	%		1.44	%		0.92	%		0.93	%		1.83	%
Return on average common equity		9.7	%		12.8	%		8.0	%		8.3	%		17.2	%
Return on average tangible common equity(b)(d)		11.6	%		15.2	%		9.6	%		9.9	%		20.6	%
Noninterest income as a percent of total revenue		41	%		48	%		40	%		41	%		55	%
Dividend payout ratio		28.6	%		19.7	%		32.5	%		32.5	%		16.3	%
Average total Bancorp shareholders’ equity as a percent of average assets		11.66	%		11.83	%		11.60	%		11.57	%		11.26	%
Tangible common equity(c)(d)		8.87	%		8.78	%		8.64	%		8.55	%		8.59	%
Net interest margin(a)(d)		2.86	%		2.88	%		2.88	%		2.91	%		2.85	%
Efficiency(a)(d)		62.8	%		55.5	%		65.3	%		63.8	%		48.0	%
Effective tax rate		22.6	%		25.6	%		23.9	%		25.1	%		30.7	%
Credit Quality
Net losses charged-off	$	73		$	107		$	87		$	96		$	80
Net losses charged-off as a percent of average portfolio loans and leases		0.31	%		0.45	%		0.37	%		0.42	%		0.34	%
ALLL as a percent of portfolio loans and leases		1.36	%		1.37	%		1.38	%		1.38	%		1.37	%
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.54	%		1.54	%		1.54	%		1.54	%		1.52	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.80	%		0.75	%		0.86	%		0.88	%		0.70	%
Average Balances
Loans and leases, including held for sale	$	93,981		$	94,417		$	94,807		$	94,078		$	94,587
Total securities and other short-term investments		32,567			31,675			32,040			31,573			31,256
Total assets		141,837			142,726			142,920			141,582			141,973
Transaction deposits(f)		97,008			94,855			94,929			94,680			95,676
Core deposits(g)		100,949			98,875			98,973			98,715			99,728
Wholesale funding(h)		20,015			22,236			23,084			21,936			21,907
Bancorp shareholders’ equity		16,545			16,883			16,584			16,376			15,982
Capital and Liquidity Ratios(i)
CET1 capital(j)		10.40	%		10.17	%		9.94	%		9.81	%		9.82	%
Tier I risk-based capital(j)		11.51	%		11.27	%		11.03	%		10.91	%		10.93	%
Total risk-based capital(j)		15.00	%		14.88	%		14.66	%		14.66	%		14.13	%
Tier I leverage		9.90	%		9.80	%		9.64	%		9.57	%		9.54	%
CET1 capital (fully phased-in)(j)(d)		10.30	%		10.09	%		9.86	%		9.72	%		9.72	%
Modified liquidity coverage ratio (LCR)(l)		128	%		115	%		110	%		118	%		N/A
Operations
Banking centers		1,191			1,191			1,191			1,241			1,254
ATMs		2,495			2,497			2,514			2,556			2,593
Full-time equivalent employees		17,844			18,072			18,051			18,200			18,261

(a) Presented on a fully taxable equivalent basis.

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity (average common equity less goodwill and intangible assets).

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and AOCI).

(d) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(e) Excludes nonaccrual loans held for sale.

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(g) Includes transaction deposits plus other time deposits.

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(i) Current period regulatory capital ratios are estimates.

(j) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(k) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(l) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016.

(m) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

19

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended						% Change				Year to Date				% Change
	December 2016		September 2016(a)		December 2015		Seq		Yr/Yr		December 2016		December 2015		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	805	$	816	$	797		(1%)		1%	$	3,233	$	3,151		3%
Interest on securities		245		239		231		3%		6%		952		869		10%
Interest on other short-term investments		2		2		2		—		—		8		8		—
Total interest income		1,052		1,057		1,030		—		2%		4,193		4,028		4%
Interest Expense
Interest on deposits		54		51		46		6%		17%		205		186		10%
Interest on federal funds purchased		—		—		—		—		—		2		1		100%
Interest on other short-term borrowings		2		2		1		—		100%		10		2		NM
Interest on long-term debt		93		97		84		(4%)		11%		361		306		18%
Total interest expense		149		150		131		(1%)		14%		578		495		17%
Net Interest Income		903		907		899		—		—		3,615		3,533		2%
Provision for loan and lease losses		54		80		91		(33%)		(41%)		343		396		(13%)
Net Interest Income After Provision for Loan and Lease Losses		849		827		808		3%		5%		3,272		3,137		4%
Noninterest Income
Service charges on deposits		141		143		144		(1%)		(2%)		558		563		(1%)
Corporate banking revenue		101		111		104		(9%)		(3%)		432		384		13%
Mortgage banking net revenue		65		66		74		(2%)		(12%)		285		348		(18%)
Wealth and asset management revenue		100		101		102		(1%)		(2%)		404		418		(3%)
Card and processing revenue		79		79		77		—		3%		319		302		6%
Other noninterest income		137		336		602		(59%)		(77%)		688		979		(30%)
Securities gains, net		(3)		4		1		NM		NM		10		9		11%
Total noninterest income		620		840		1,104		(26%)		(44%)		2,696		3,003		(10%)
Noninterest Expense
Salaries, wages and incentives		403		400		386		1%		4%		1,612		1,525		6%
Employee benefits		76		78		74		(3%)		3%		339		323		5%
Net occupancy expense		73		73		83		—		(12%)		299		321		(7%)
Technology and communications		56		62		59		(10%)		(5%)		234		224		4%
Equipment expense		29		29		32		—		(9%)		118		124		(5%)
Card and processing expense		31		30		40		3%		(23%)		132		153		(14%)
Other noninterest expense		292		301		289		(3%)		1%		1,169		1,105		6%
Total noninterest expense		960		973		963		(1%)		—		3,903		3,775		3%
Income Before Income Taxes		509		694		949		(27%)		(46%)		2,065		2,365		(13%)
Applicable income tax expense		114		178		292		(36%)		(61%)		505		659		(23%)
Net Income		395		516		657		(23%)		(40%)		1,560		1,706		(9%)
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		(4)		(6)		(33%)
Net Income Attributable to Bancorp		395		516		657		(23%)		(40%)		1,564		1,712		(9%)
Dividends on preferred stock		23		15		23		53%		—		75		75		—
Net Income Available to Common Shareholders	$	372	$	501	$	634		(26%)		(41%)	$	1,489	$	1,637		(9%)

(a) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	December 2016		September 2016(b)		June 2016(b)		March 2016(b)		December 2015
Interest Income
Interest and fees on loans and leases	$	805	$	816	$	808	$	804	$	797
Interest on securities		245		239		236		232		231
Interest on other short-term investments		2		2		2		2		2
Total interest income		1,052		1,057		1,046		1,038		1,030
Taxable equivalent adjustment		6		6		6		6		5
Total interest income (taxable equivalent)(a)		1,058		1,063		1,052		1,044		1,035
Interest Expense
Interest on deposits		54		51		50		49		46
Interest on federal funds purchased		—		—		1		1		—
Interest on other short-term borrowings		2		2		3		3		1
Interest on long-term debt		93		97		90		82		84
Total interest expense		149		150		144		135		131
Net Interest Income (Taxable Equivalent)		909		913		908		909		904
Provision for loan and lease losses		54		80		91		119		91
Net Interest Income (Taxable Equivalent) After Provision for Provision for Loan and Lease Losses		855		833		817		790		813
Noninterest Income
Service charges on deposits		141		143		138		137		144
Corporate banking revenue		101		111		117		102		104
Mortgage banking net revenue		65		66		75		78		74
Wealth and asset management revenue		100		101		101		102		102
Card and processing revenue		79		79		82		79		77
Other noninterest income		137		336		80		136		602
Securities gains, net		(3)		4		6		3		1
Total noninterest income		620		840		599		637		1,104
Noninterest Expense
Salaries, wages and incentives		403		400		407		403		386
Employee benefits		76		78		85		100		74
Net occupancy expense		73		73		75		77		83
Technology and communications		56		62		60		56		59
Equipment expense		29		29		30		30		32
Card and processing expense		31		30		37		35		40
Other noninterest expense		292		301		289		285		289
Total noninterest expense		960		973		983		986		963
Income Before Income Taxes (Taxable Equivalent)(a)		515		700		433		441		954
Taxable equivalent adjustment		6		6		6		6		5
Income Before Income Taxes		509		694		427		435		949
Applicable income tax expense		114		178		103		109		292
Net Income		395		516		324		326		657
Less: Net Income attributable to noncontrolling interests		—		—		(4)		—		—
Net Income Attributable to Bancorp		395		516		328		326		657
Dividends on preferred stock		23		15		23		15		23
Net Income Available to Common Shareholders	$	372	$	501	$	305	$	311	$	634

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(b) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

21

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of						% Change
	December 2016		September 2016(d)		December 2015		Seq		Yr/Yr
Assets
Cash and due from banks	$	2,392	$	2,164	$	2,540		11%		(6%)
Available-for-sale and other securities(a)		31,183		30,689		29,044		2%		7%
Held-to-maturity securities(b)		26		56		70		(54%)		(63%)
Trading securities		410		431		386		(5%)		6%
Other short-term investments		2,754		2,995		2,671		(8%)		3%
Loans held for sale		751		1,060		903		(29%)		(17%)
Portfolio loans and leases:
Commercial and industrial loans		41,676		42,727		42,131		(2%)		(1%)
Commercial mortgage loans		6,899		6,856		6,957		1%		(1%)
Commercial construction loans		3,903		3,905		3,214		—		21%
Commercial leases		3,974		3,995		3,854		(1%)		3%
Residential mortgage loans		15,051		14,643		13,716		3%		10%
Home equity		7,695		7,864		8,301		(2%)		(7%)
Automobile loans		9,983		10,349		11,493		(4%)		(13%)
Credit card		2,237		2,169		2,259		3%		(1%)
Other consumer loans and leases		680		643		657		6%		4%
Portfolio loans and leases		92,098		93,151		92,582		(1%)		(1%)
Allowance for loan and lease losses		(1,253)		(1,272)		(1,272)		(1%)		(1%)
Portfolio loans and leases, net		90,845		91,879		91,310		(1%)		(1%)
Bank premises and equipment		2,065		2,084		2,239		(1%)		(8%)
Operating lease equipment		738		771		707		(4%)		4%
Goodwill		2,416		2,416		2,416		—		—
Intangible assets		9		10		12		(10%)		(25%)
Servicing rights		744		619		785		20%		(5%)
Other assets		7,844		8,105		7,965		(3%)		(2%)
Total Assets	$	142,177	$	143,279	$	141,048		(1%)		1%
Liabilities
Deposits:
Demand	$	35,782	$	35,625	$	36,267		—		(1%)
Interest checking		26,679		24,483		26,768		9%		—
Savings		13,941		14,019		14,601		(1%)		(5%)
Money market		20,749		19,910		18,494		4%		12%
Foreign office		426		518		464		(18%)		(8%)
Other time		3,866		3,971		4,019		(3%)		(4%)
Certificates $100,000 and over		2,378		2,745		2,592		(13%)		(8%)
Other		—		—		—		—		—
Total deposits		103,821		101,271		103,205		3%		1%
Federal funds purchased		132		126		151		5%		(13%)
Other short-term borrowings		3,535		3,494		1,507		1%		NM
Accrued taxes, interest and expenses		1,800		2,178		2,164		(17%)		(17%)
Other liabilities		2,269		2,516		2,341		(10%)		(3%)
Long-term debt		14,388		16,890		15,810		(15%)		(9%)
Total Liabilities		125,945		126,475		125,178		—		1%
Equity
Common stock(c)		2,051		2,051		2,051		—		—
Preferred stock		1,331		1,331		1,331		—		—
Capital surplus		2,756		2,750		2,666		—		3%
Retained earnings		13,441		13,175		12,358		2%		9%
Accumulated other comprehensive income		59		755		197		(92%)		(70%)
Treasury stock		(3,433)		(3,286)		(2,764)		4%		24%
Total Bancorp shareholders’ equity		16,205		16,776		15,839		(3%)		2%
Noncontrolling interests		27		28		31		(4%)		(13%)
Total Equity		16,232		16,804		15,870		(3%)		2%
Total Liabilities and Equity	$	142,177	$	143,279	$	141,048		(1%)		1%
(a) Amortized cost	$	31,024	$	29,486	$	28,678		5%		8%
(b) Market values		26		56		70		(54%)		(63%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		—		—
Outstanding, excluding treasury		750,479		755,582		785,080		(1%)		(4%)
Treasury		173,413		168,310		138,812		3%		25%

(d) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	December		September		June		March		December
	2016		2016(d)		2016(d)		2016(d)		2015
Assets
Cash and due from banks	$	2,392	$	2,164	$	2,359	$	2,298	$	2,540
Available-for-sale and other securities(a)		31,183		30,689		31,455		29,891		29,044
Held-to-maturity securities(b)		26		56		62		64		70
Trading securities		410		431		401		405		386
Other short-term investments		2,754		2,995		1,818		1,778		2,671
Loans held for sale		751		1,060		877		803		903
Portfolio loans and leases:
Commercial and industrial loans		41,676		42,727		43,558		43,433		42,131
Commercial mortgage loans		6,899		6,856		6,875		6,864		6,957
Commercial construction loans		3,903		3,905		3,706		3,428		3,214
Commercial leases		3,974		3,995		3,978		3,956		3,854
Residential mortgage loans		15,051		14,643		14,307		13,895		13,716
Home equity		7,695		7,864		7,988		8,112		8,301
Automobile loans		9,983		10,349		10,671		11,128		11,493
Credit card		2,237		2,169		2,172		2,138		2,259
Other consumer loans and leases		680		643		654		651		657
Portfolio loans and leases		92,098		93,151		93,909		93,605		92,582
Allowance for loan and lease losses		(1,253)		(1,272)		(1,299)		(1,295)		(1,272)
Portfolio loans and leases, net		90,845		91,879		92,610		92,310		91,310
Bank premises and equipment		2,065		2,084		2,144		2,185		2,239
Operating lease equipment		738		771		756		738		707
Goodwill		2,416		2,416		2,416		2,416		2,416
Intangible assets		9		10		10		11		12
Servicing rights		744		619		621		685		785
Other assets		7,844		8,105		8,096		8,846		7,965
Total Assets	$	142,177	$	143,279	$	143,625	$	142,430	$	141,048
Liabilities
Deposits:
Demand	$	35,782	$	35,625	$	36,137	$	35,858	$	36,267
Interest checking		26,679		24,483		24,571		25,182		26,768
Savings		13,941		14,019		14,356		14,738		14,601
Money market		20,749		19,910		19,125		19,377		18,494
Foreign office		426		518		453		441		464
Other time		3,866		3,971		4,021		4,049		4,019
Certificates $100,000 and over		2,378		2,745		2,778		2,830		2,592
Other		—		—		430		—		—
Total deposits		103,821		101,271		101,871		102,475		103,205
Federal funds purchased		132		126		108		134		151
Other short-term borrowings		3,535		3,494		3,979		3,523		1,507
Accrued taxes, interest and expenses		1,800		2,178		2,187		2,011		2,164
Other liabilities		2,269		2,516		2,495		2,627		2,341
Long-term debt		14,388		16,890		16,231		15,305		15,810
Total Liabilities		125,945		126,475		126,871		126,075		125,178
Equity
Common stock(c)		2,051		2,051		2,051		2,051		2,051
Preferred stock		1,331		1,331		1,331		1,331		1,331
Capital surplus		2,756		2,750		2,760		2,687		2,666
Retained earnings		13,441		13,175		12,772		12,569		12,358
Accumulated other comprehensive income		59		755		889		684		197
Treasury stock		(3,433)		(3,286)		(3,077)		(2,999)		(2,764)
Total Bancorp shareholders’ equity		16,205		16,776		16,726		16,323		15,839
Noncontrolling interests		27		28		28		32		31
Total Equity		16,232		16,804		16,754		16,355		15,870
Total Liabilities and Equity	$	142,177	$	143,279	$	143,625	$	142,430	$	141,048
(a) Amortized cost	$	31,024	$	29,486	$	30,101	$	28,838	$	28,678
(b) Market values		26		56		62		64		70
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		2,000,000		2,000,000
Outstanding, excluding treasury		750,479		755,582		766,346		770,471		785,080
Treasury		173,413		168,310		157,547		153,422		138,812

(d) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

23

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	December			December			December			December
	2016			2015			2016			2015
Total equity, beginning	$	16,804		$	15,858		$	15,870		$	15,665
Net income attributable to Bancorp		395			657			1,564			1,712
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		(664	)		(290	)		(137	)		(237	)
Qualifying cash flow hedges		(38	)		(36	)		(12	)		(1	)
Change in accumulated other comprehensive income related to employee benefit plans		6			1			11			6
Comprehensive income		(301	)		332			1,426			1,480
Cash dividends declared:
Common stock		(106	)		(102	)		(405	)		(417	)
Preferred stock		(23	)		(23	)		(75	)		(75	)
Impact of stock transactions under stock compensation plans, net		13			21			80			75
Shares acquired for treasury		(155	)		(215	)		(661	)		(850	)
Noncontrolling interest		(1	)		—			(4	)		—
Other		1			(1	)		1			(8	)
Total equity, ending	$	16,232		$	15,870		$	16,232		$	15,870

24

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended						% Change
	December		September		December
	2016		2016(c)		2015		Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	42,612	$	43,125	$	43,175		(1%)		(1%)
Commercial mortgage loans		6,961		6,891		7,053		1%		(1%)
Commercial construction loans		3,890		3,848		3,141		1%		24%
Commercial leases		3,921		3,963		3,841		(1%)		2%
Residential mortgage loans		15,802		15,346		14,315		3%		10%
Home equity		7,779		7,918		8,394		(2%)		(7%)
Automobile loans		10,162		10,508		11,674		(3%)		(13%)
Credit card		2,180		2,165		2,320		1%		(6%)
Other consumer loans and leases		674		653		674		3%		—
Taxable securities		30,677		29,772		28,951		3%		6%
Tax exempt securities		81		76		52		7%		56%
Other short-term investments		1,809		1,827		2,253		(1%)		(20%)
Total interest-earning assets		126,548		126,092		125,843		—		1%
Cash and due from banks		2,358		2,289		2,466		3%		(4%)
Other assets		14,203		15,644		14,925		(9%)		(5%)
Allowance for loan and lease losses		(1,272)		(1,299)		(1,261)		(2%)		1%
Total Assets	$	141,837	$	142,726	$	141,973		(1%)		—
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,644	$	24,475	$	25,296		5%		1%
Savings deposits		13,979		14,232		14,615		(2%)		(4%)
Money market deposits		20,476		19,706		18,775		4%		9%
Foreign office deposits		497		524		736		(5%)		(32%)
Other time deposits		3,941		4,020		4,052		(2%)		(3%)
Certificates $100,000 and over		2,539		2,768		3,305		(8%)		(23%)
Other deposits		115		749		7		(85%)		NM
Federal funds purchased		280		446		1,182		(37%)		(76%)
Other short-term borrowings		1,908		2,171		1,675		(12%)		14%
Long-term debt		15,173		16,102		15,738		(6%)		(4%)
Total interest-bearing liabilities		84,552		85,193		85,381		(1%)		(1%)
Demand deposits		36,412		35,918		36,254		1%		—
Other liabilities		4,300		4,704		4,325		(9%)		(1%)
Total Liabilities		125,264		125,815		125,960		—		(1%)
Total Equity		16,573		16,911		16,013		(2%)		3%
Total Liabilities and Equity	$	141,837	$	142,726	$	141,973		(1%)		—
	For the Three Months Ended						bps Change
Yield Analysis	December		September		December
	2016		2016		2015		Seq		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		3.33%		3.28%		3.12%		5		21
Commercial mortgage loans(a)		3.42%		3.31%		3.11%		11		31
Commercial construction loans(a)		3.50%		3.43%		3.18%		7		32
Commercial leases(a)		2.64%		2.64%		2.68%		—		(4)
Residential mortgage loans		3.48%		3.51%		3.62%		(3)		(14)
Home equity		3.73%		3.76%		3.57%		(3)		16
Automobile loans		2.80%		2.71%		2.67%		9		13
Credit card		7.30%		10.34%		10.17%		(304)		(287)
Other consumer loans and leases		6.73%		6.90%		6.95%		(17)		(22)
Total loans and leases		3.43%		3.46%		3.36%		(3)		7
Taxable securities		3.17%		3.18%		3.16%		(1)		1
Tax exempt securities(a)		4.76%		4.91%		5.69%		(15)		(93)
Other short-term investments		0.47%		0.44%		0.28%		3		19
Total interest-earning assets		3.33%		3.36%		3.26%		(3)		7
Interest-bearing liabilities:
Interest checking deposits		0.25%		0.23%		0.19%		2		6
Savings deposits		0.04%		0.04%		0.05%		—		(1)
Money market deposits		0.30%		0.27%		0.22%		3		8
Foreign office deposits		0.15%		0.17%		0.14%		(2)		1
Other time deposits		1.24%		1.24%		1.20%		—		4
Certificates $100,000 and over		1.35%		1.28%		1.09%		7		26
Other deposits		0.41%		0.41%		0.09%		—		32
Federal funds purchased		0.41%		0.40%		0.12%		1		29
Other short-term borrowings		0.36%		0.30%		0.12%		6		24
Long-term debt		2.42%		2.40%		2.12%		2		30
Total interest-bearing liabilities		0.70%		0.70%		0.61%		—		9
Ratios:
Net interest margin (taxable equivalent)(b)		2.86%		2.88%		2.85%		(2)		1
Net interest rate spread (taxable equivalent)		2.63%		2.66%		2.65%		(3)		(2)
Interest-bearing liabilities to interest-earning assets		66.81%		67.56%		67.85%		(75)		(104)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(c) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date				% Change
	December		December
	2016		2015		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	43,184	$	42,594		1%
Commercial mortgage loans		6,899		7,121		(3%)
Commercial construction loans		3,648		2,717		34%
Commercial leases		3,916		3,796		3%
Residential mortgage loans		15,101		13,798		9%
Home equity		7,998		8,592		(7%)
Automobile loans		10,708		11,847		(10%)
Credit card		2,205		2,303		(4%)
Other consumer loans and leases		661		571		16%
Taxable securities		30,019		26,932		11%
Tax exempt securities		80		55		45%
Other short-term investments		1,866		3,258		(43%)
Total interest-earning assets		126,285		123,584		2%
Cash and due from banks		2,303		2,608		(12%)
Other assets		14,963		15,179		(1%)
Allowance for loan and lease losses		(1,285)		(1,293)		(1%)
Total Assets	$	142,266	$	140,078		2%
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,143	$	26,160		(4%)
Savings deposits		14,346		14,951		(4%)
Money market deposits		19,523		18,152		8%
Foreign office deposits		497		817		(39%)
Other time deposits		4,010		4,051		(1%)
Certificates $100,000 and over		2,735		2,869		(5%)
Other deposits		333		57		NM
Federal funds purchased		506		920		(45%)
Other short-term borrowings		2,845		1,721		65%
Long-term debt		15,394		14,644		5%
Total interest-bearing liabilities		85,332		84,342		1%
Demand deposits		35,862		35,164		2%
Other liabilities		4,445		4,672		(5%)
Total Liabilities		125,639		124,178		1%
Total Equity		16,627		15,900		5%
Total Liabilities and Equity	$	142,266	$	140,078		2%
	Year to Date				bps Change
Yield Analysis	December		December
	2016		2015		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		3.27%		3.13%		14
Commercial mortgage loans(a)		3.32%		3.19%		13
Commercial construction loans(a)		3.42%		3.17%		25
Commercial leases(a)		2.69%		2.78%		(9)
Residential mortgage loans		3.54%		3.69%		(15)
Home equity		3.78%		3.63%		15
Automobile loans		2.71%		2.66%		5
Credit card		9.69%		10.27%		(58)
Other consumer loans and leases		6.56%		8.00%		(144)
Total loans and leases		3.45%		3.40%		5
Taxable securities		3.16%		3.22%		(6)
Tax exempt securities(a)		4.51%		5.23%		(72)
Other short-term investments		0.44%		0.25%		19
Total interest-earning assets		3.34%		3.28%		6
Interest-bearing liabilities:
Interest checking deposits		0.23%		0.19%		4
Savings deposits		0.05%		0.06%		(1)
Money market deposits		0.27%		0.24%		3
Foreign office deposits		0.16%		0.16%		—
Other time deposits		1.24%		1.20%		4
Certificates $100,000 and over		1.30%		1.16%		14
Other deposits		0.41%		0.16%		25
Federal funds purchased		0.39%		0.13%		26
Other short-term borrowings		0.36%		0.12%		24
Long-term debt		2.35%		2.09%		26
Total interest-bearing liabilities		0.68%		0.59%		9
Ratios:
Net interest margin (taxable equivalent)(b)		2.88%		2.88%		—
Net interest rate spread (taxable equivalent)		2.66%		2.69%		(3)
Interest-bearing liabilities to interest-earning assets		67.57%		68.25%		(68)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	December		September		June		March		December
	2016		2016(c)		2016(c)		2016(c)		2015
Assets
Interest-earning assets:
Commercial and industrial loans	$	42,612	$	43,125	$	43,878	$	43,127	$	43,175
Commercial mortgage loans		6,961		6,891		6,835		6,908		7,053
Commercial construction loans		3,890		3,848		3,551		3,297		3,141
Commercial leases		3,921		3,963		3,904		3,875		3,841
Residential mortgage loans		15,802		15,346		14,842		14,405		14,315
Home equity		7,779		7,918		8,059		8,241		8,394
Automobile loans		10,162		10,508		10,887		11,285		11,674
Credit card		2,180		2,165		2,198		2,277		2,320
Other consumer loans and leases		674		653		653		663		674
Taxable securities		30,677		29,772		30,002		29,619		28,951
Tax exempt securities		81		76		85		78		52
Other short-term investments		1,809		1,827		1,953		1,876		2,253
Total interest-earning assets		126,548		126,092		126,847		125,651		125,843
Cash and due from banks		2,358		2,289		2,228		2,335		2,466
Other assets		14,203		15,644		15,140		14,869		14,925
Allowance for loan and lease losses		(1,272)		(1,299)		(1,295)		(1,273)		(1,261)
Total Assets	$	141,837	$	142,726	$	142,920	$	141,582	$	141,973
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,644	$	24,475	$	24,714	$	25,740	$	25,296
Savings deposits		13,979		14,232		14,576		14,601		14,615
Money market deposits		20,476		19,706		19,243		18,655		18,775
Foreign office deposits		497		524		484		483		736
Other time deposits		3,941		4,020		4,044		4,035		4,052
Certificates $100,000 and over		2,539		2,768		2,819		2,815		3,305
Other deposits		115		749		467		—		7
Federal funds purchased		280		446		693		608		1,182
Other short-term borrowings		1,908		2,171		3,754		3,564		1,675
Long-term debt		15,173		16,102		15,351		14,949		15,738
Total interest-bearing liabilities		84,552		85,193		86,145		85,450		85,381
Demand deposits		36,412		35,918		35,912		35,201		36,254
Other liabilities		4,300		4,704		4,247		4,524		4,325
Total Liabilities		125,264		125,815		126,304		125,175		125,960
Total Equity		16,573		16,911		16,616		16,407		16,013
Total Liabilities and Equity	$	141,837	$	142,726	$	142,920	$	141,582	$	141,973
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.33%		3.28%		3.25%		3.23%		3.12%
Commercial mortgage loans(a)		3.42%		3.31%		3.28%		3.27%		3.11%
Commercial construction loans(a)		3.50%		3.43%		3.36%		3.38%		3.18%
Commercial leases(a)		2.64%		2.64%		2.71%		2.77%		2.68%
Residential mortgage loans		3.48%		3.51%		3.57%		3.63%		3.62%
Home equity		3.73%		3.76%		3.81%		3.80%		3.57%
Automobile loans		2.80%		2.71%		2.68%		2.65%		2.67%
Credit card		7.30%		10.34%		10.47%		10.64%		10.17%
Other consumer loans and leases		6.73%		6.90%		6.36%		6.27%		6.95%
Total loans and leases		3.43%		3.46%		3.45%		3.46%		3.36%
Taxable securities		3.17%		3.18%		3.16%		3.14%		3.16%
Tax exempt securities(a)		4.76%		4.91%		4.09%		4.32%		5.69%
Other short-term investments		0.47%		0.44%		0.43%		0.42%		0.28%
Total interest-earning assets		3.33%		3.36%		3.34%		3.34%		3.26%
Interest-bearing liabilities:
Interest checking deposits		0.25%		0.23%		0.22%		0.23%		0.19%
Savings deposits		0.04%		0.04%		0.05%		0.04%		0.05%
Money market deposits		0.30%		0.27%		0.26%		0.25%		0.22%
Foreign office deposits		0.15%		0.17%		0.15%		0.15%		0.14%
Other time deposits		1.24%		1.24%		1.24%		1.22%		1.20%
Certificates $100,000 and over		1.35%		1.28%		1.29%		1.28%		1.09%
Other deposits		0.41%		0.41%		0.40%		0.00%		0.09%
Federal funds purchased		0.41%		0.40%		0.39%		0.36%		0.12%
Other short-term borrowings		0.36%		0.30%		0.36%		0.39%		0.12%
Long-term debt		2.42%		2.40%		2.36%		2.22%		2.12%
Total interest-bearing liabilities		0.70%		0.70%		0.67%		0.64%		0.61%
Ratios:
Net interest margin (taxable equivalent)(b)		2.86%		2.88%		2.88%		2.91%		2.85%
Net interest rate spread (taxable equivalent)		2.63%		2.66%		2.67%		2.70%		2.65%
Interest-bearing liabilities to interest-earning assets		66.81%		67.56%		67.91%		68.01%		67.85%

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(c) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

27

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	December		September		June		March		December
	2016		2016		2016		2016		2015
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	42,548	$	43,116	$	43,876	$	43,089	$	43,154
Commercial mortgage loans		6,957		6,888		6,831		6,886		7,032
Commercial construction loans		3,890		3,848		3,551		3,297		3,141
Commercial leases		3,921		3,962		3,898		3,874		3,839
Total commercial loans and leases		57,316		57,814		58,156		57,146		57,166
Consumer loans and leases:
Residential mortgage loans		14,854		14,455		14,046		13,788		13,504
Home equity		7,779		7,918		8,054		8,217		8,360
Automobile loans		10,162		10,508		10,887		11,283		11,670
Credit card		2,180		2,165		2,134		2,179		2,218
Other consumer loans and leases		673		651		654		662		676
Total consumer loans and leases		35,648		35,697		35,775		36,129		36,428
Total average portfolio loans and leases	$	92,964	$	93,511	$	93,931	$	93,275	$	93,594
Average loans held for sale	$	1,017	$	906	$	876	$	803	$	993
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	41,676	$	42,727	$	43,558	$	43,433	$	42,131
Commercial mortgage loans		6,899		6,856		6,875		6,864		6,957
Commercial construction loans		3,903		3,905		3,706		3,428		3,214
Commercial leases		3,974		3,995		3,978		3,956		3,854
Total commercial loans and leases		56,452		57,483		58,117		57,681		56,156
Consumer loans and leases:
Residential mortgage loans		15,051		14,643		14,307		13,895		13,716
Home equity		7,695		7,864		7,988		8,112		8,301
Automobile loans		9,983		10,349		10,671		11,128		11,493
Credit card		2,237		2,169		2,172		2,138		2,259
Other consumer loans and leases		680		643		654		651		657
Total consumer loans and leases		35,646		35,668		35,792		35,924		36,426
Total portfolio loans and leases	$	92,098	$	93,151	$	93,909	$	93,605	$	92,582
Total loans held for sale	$	751	$	1,060	$	877	$	803	$	903
Operating lease equipment	$	738	$	771	$	756	$	738	$	707
Loans and Leases Serviced for Others:(a)
Commercial and industrial loans	$	519	$	544	$	567	$	552	$	588
Commercial mortgage loans		226		226		229		231		239
Commercial construction loans		41		38		24		26		27
Commercial leases		280		270		282		262		256
Residential mortgage loans		53,554		54,646		56,170		57,758		59,024
Automobile loans		51		66		83		102		122
Total loans and leases serviced for others		54,671		55,790		57,355		58,931		60,256
Total loans and leases serviced	$	148,258	$	150,772	$	152,897	$	154,077	$	154,448

(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities.

28

Fifth Third Bancorp and Subsidiaries

Regulatory Capital

$ in millions

(unaudited)

	As of
	December			September			June			March			December
	2016(a)			2016			2016			2016			2015
Regulatory capital:
Common stock and related surplus (net of treasury stock)	$	1,374		$	1,510		$	1,728		$	1,738		$	1,953
Retained earnings		13,441			13,175			12,772			12,569			12,358
Common equity tier I capital adjustments and deductions		(2,389	)		(2,386	)		(2,388	)		(2,393	)		(2,394	)
CET1 capital		12,426			12,299			12,112			11,914			11,917
Additional tier I capital		1,330			1,331			1,331			1,330			1,343
Tier I capital		13,756			13,630			13,443			13,244			13,260
Tier II capital		4,164			4,374			4,414			4,553			3,874
Total regulatory capital	$	17,920		$	18,004		$	17,857		$	17,797		$	17,134
Risk-weighted assets(b)	$	119,482		$	120,954		$	121,824		$	121,432		$	121,290
Ratios:
Average shareholders’ equity to average assets		11.66	%		11.83	%		11.60	%		11.57	%		11.26	%
Regulatory capital ratios:
Fifth Third Bancorp
CET1 capital(b)		10.40	%		10.17	%		9.94	%		9.81	%		9.82	%
Tier I risk-based capital(b)		11.51	%		11.27	%		11.03	%		10.91	%		10.93	%
Total risk-based capital(b)		15.00	%		14.88	%		14.66	%		14.66	%		14.13	%
Tier I leverage		9.90	%		9.80	%		9.64	%		9.57	%		9.54	%
CET1 capital (fully phased-in)(b)(c)		10.30	%		10.09	%		9.86	%		9.72	%		9.72	%
Fifth Third Bank
Tier I risk-based capital(b)		11.94	%		11.98	%		11.83	%		11.79	%		11.92	%
Total risk-based capital(b)		13.78	%		13.82	%		13.67	%		13.63	%		13.12	%
Tier I leverage		10.30	%		10.46	%		10.37	%		10.39	%		10.43	%

(a) Current period regulatory capital data and ratios are estimated.

(b) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting weighted values are added together resulting in the total risk-weighted assets.

(c) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

29

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	December 2016		September 2016		June 2016		March 2016		December 2015
Average portfolio loans and leases:
Commercial and industrial loans	$	42,548	$	43,116	$	43,876	$	43,089	$	43,154
Commercial mortgage loans		6,957		6,888		6,831		6,886		7,032
Commercial construction loans		3,890		3,848		3,551		3,297		3,141
Commercial leases		3,921		3,962		3,898		3,874		3,839
Residential mortgage loans		14,854		14,455		14,046		13,788		13,504
Home equity		7,779		7,918		8,054		8,217		8,360
Automobile loans		10,162		10,508		10,887		11,283		11,670
Credit card		2,180		2,165		2,134		2,179		2,218
Other consumer loans and leases		673		651		654		662		676
Total average portfolio loans and leases	$	92,964	$	93,511	$	93,931	$	93,275	$	93,594
Losses charged-off:
Commercial and industrial loans	($	35)	($	76)	($	43)	($	50)	($	38)
Commercial mortgage loans		(4)		(4)		(7)		(8)		(7)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		(1)		(1)		(2)		(1)
Residential mortgage loans		(4)		(4)		(5)		(4)		(5)
Home equity		(10)		(10)		(10)		(11)		(13)
Automobile loans		(15)		(14)		(12)		(14)		(13)
Credit card		(21)		(22)		(23)		(23)		(22)
Other consumer loans and leases		(7)		(6)		(4)		(4)		(6)
Total losses charged-off	($	97)	($	137)	($	105)	($	116)	($	105)
Recoveries of losses previously charged-off:
Commercial and industrial loans	$	10	$	15	$	4	$	4	$	8
Commercial mortgage loans		2		2		1		2		4
Commercial construction loans		—		—		—		—		—
Commercial leases		—		1		—		—		—
Residential mortgage loans		2		2		3		2		2
Home equity		4		3		4		3		4
Automobile loans		4		5		4		5		4
Credit card		2		2		2		3		3
Other consumer loans and leases		—		—		—		1		—
Total recoveries of losses previously charged-off	$	24	$	30	$	18	$	20	$	25
Net losses charged-off:
Commercial and industrial loans	($	25)	($	61)	($	39)	($	46)	($	30)
Commercial mortgage loans		(2)		(2)		(6)		(6)		(3)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		—		(1)		(2)		(1)
Residential mortgage loans		(2)		(2)		(2)		(2)		(3)
Home equity		(6)		(7)		(6)		(8)		(9)
Automobile loans		(11)		(9)		(8)		(9)		(9)
Credit card		(19)		(20)		(21)		(20)		(19)
Other consumer loans and leases		(7)		(6)		(4)		(3)		(6)
Total net losses charged-off	($	73)	($	107)	($	87)	($	96)	($	80)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.24%		0.56%		0.36%		0.43%		0.28%
Commercial mortgage loans		0.11%		0.08%		0.38%		0.35%		0.19%
Commercial construction loans		0.00%		0.00%		0.00%		(0.06%)		0.00%
Commercial leases		0.12%		0.00%		0.09%		0.20%		0.15%
Residential mortgage loans		0.06%		0.07%		0.06%		0.07%		0.08%
Home equity		0.35%		0.32%		0.30%		0.36%		0.39%
Automobile loans		0.40%		0.35%		0.26%		0.32%		0.31%
Credit card		3.52%		3.61%		3.92%		3.73%		3.40%
Other consumer loans and leases		3.30%		3.70%		2.42%		2.28%		3.10%
Total net losses charged-off as a percent of average portfolio loans and leases		0.31%		0.45%		0.37%		0.42%		0.34%

30

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	December		September		June		March		December
	2016		2016		2016		2016		2015
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,272	$	1,299	$	1,295	$	1,272	$	1,261
Total net losses charged-off		(73)		(107)		(87)		(96)		(80)
Provision for loan and lease losses		54		80		91		119		91
Allowance for loan and lease losses, ending	$	1,253	$	1,272	$	1,299	$	1,295	$	1,272
Reserve for unfunded commitments, beginning	$	162	$	151	$	144	$	138	$	134
Provision for unfunded commitments		(1)		11		7		6		4
Reserve for unfunded commitments, ending	$	161	$	162	$	151	$	144	$	138
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,253	$	1,272	$	1,299	$	1,295	$	1,272
Reserve for unfunded commitments		161		162		151		144		138
Total allowance for credit losses	$	1,414	$	1,434	$	1,450	$	1,439	$	1,410
	As of
	December		September		June		March		December
	2016		2016		2016		2016		2015
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	302	$	235	$	254	$	278	$	82
Commercial mortgage loans		27		31		39		51		56
Commercial construction loans		—		—		—		—		—
Commercial leases		2		—		4		4		—
Residential mortgage loans		17		19		27		25		28
Home equity		55		59		61		61		62
Total nonaccrual portfolio loans and leases (excludes restructured loans)		403		344		385		419		228
Nonaccrual restructured portfolio commercial loans and leases		192		194		242		210		203
Nonaccrual restructured portfolio consumer loans and leases		65		63		66		72		75
Total nonaccrual portfolio loans and leases		660		601		693		701		506
Repossessed property		15		13		15		17		18
OREO		63		84		97		107		123
Total nonperforming portfolio assets		738		698		805		825		647
Nonaccrual loans held for sale		4		91		20		3		1
Nonaccrual restructured loans held for sale		9		9		—		2		11
Total nonperforming assets	$	751	$	798	$	825	$	830	$	659
Restructured portfolio consumer loans and leases (accrual)	$	959	$	972	$	982	$	998	$	979
Restructured portfolio commercial loans and leases (accrual)	$	321	$	408	$	431	$	461	$	491
90 days past due loans and leases (accrual):
Commercial and industrial loans	$	4	$	7	$	2	$	3	$	7
Commercial mortgage loans		—		—		—		—		—
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		—		—
Total commercial loans and leases		4		7		2		3		7
Residential mortgage loans		49		43		38		44		40
Home equity		—		—		—		—		—
Automobile loans		9		8		7		8		10
Credit card		22		18		18		18		18
Other consumer loans and leases		—		—		—		—		—
Total consumer loans and leases		80		69		63		70		68
Total 90 days past due loans and leases (accrual)(b)	$	84	$	76	$	65	$	73	$	75
Ratios
Net losses charged-off as a percent of average portfolio loans and leases		0.31%		0.45%		0.37%		0.42%		0.34%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases		1.36%		1.37%		1.38%		1.38%		1.37%
As a percent of nonperforming loans and leases(a)		190%		212%		188%		185%		252%
As a percent of nonperforming assets(a)		170%		182%		161%		157%		197%
Nonperforming loans and leases as a percent of portfolio loans and leases and OREO(a)		0.72%		0.64%		0.74%		0.75%		0.55%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(a)		0.80%		0.75%		0.86%		0.88%		0.70%
Nonperforming assets as a percent of total loans, leases and other assets, including OREO		0.81%		0.85%		0.87%		0.88%		0.70%
Allowance for credit losses as a percent of nonperforming assets		192%		205%		180%		174%		218%

(a) Does not include nonaccrual loans held for sale.

(b) Does not include loans held for sale.

31

Use of Non-GAAP Financial Measures

In addition to GAAP measures, management considers various Non-GAAP measures when evaluating the performance of the business, including : “net interest income on an FTE basis,” “net interest margin on an FTE basis,” “adjusted net interest margin,” “efficiency ratio,” “income before income taxes on an FTE basis,” “pre-provision net revenue,” “noninterest income excluding certain items,” “adjusted noninterest income,” “adjusted noninterest income excluding mortgage banking revenue,” “tangible net income available to common shareholders,” “average tangible common equity,” “tangible common equity,” “tangible equity,” “tangible book value per common share,” and “Common Equity Tier 1 under Basel III Final Rule (fully phased-in),” and certain ratios derived from these measures.

The FTE basis adjusts for the tax-favored status of income from certain loans and securities held by the Bancorp that are not taxable for federal income tax purposes. The Bancorp believes this presentation to be the preferred industry measurement of net interest income as it provides a relevant comparison between taxable and non-taxable amounts.

Pre-provision net revenue is defined as net interest income plus noninterest income minus noninterest expense. Management believes this measure is important because it provides a ready view of pre-tax earnings before the impact of provision expense. Noninterest income excluding certain items is provided by management to assist the reader in identifying significant, unusual, or large transactions that impacted noninterest income.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding unrealized gains/losses), in addition to capital ratios defined by the U.S. banking agencies. These calculations are intended to complement the capital ratios defined by the U.S. banking agencies for both absolute and comparative purposes. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be Non-GAAP financial measures. Management believes that providing the tangible common equity ratio excluding unrealized gains/losses on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of gains or losses some of which are uncertain and providing the tangible common equity ratio including unrealized gains/losses enables investors and others to assess the Bancorp’s use of equity if all unrealized gains or losses were to be monetized.

Management believes tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of a business as it calculates the return available to common shareholders and book value of common stock without the impact of intangible assets and their related amortization. This is useful for evaluating the performance of a business consistently, whether acquired or developed internally, compared to other companies in the industry who present similar measures.

The Bancorp became subject to the Basel III Final Rule on January 1, 2015 which defined various regulatory capital ratios including the Common Equity Tier 1 (“CET1”) ratio. The CET1 capital ratio has transition provisions that will be phased out over time. CET1 capital ratio is presented on a fully phased-in basis for comparative purposes with other organizations. The Bancorp considers the fully phased-in CET1 ratio a Non-GAAP measure since it is not the CET1 ratio in effect for the periods presented. Since analysts and the U.S. banking agencies may assess the Bancorp’s capital adequacy using these ratios, management believes they are useful to provide investors the ability to assess its capital adequacy on the same basis.

Please note that although Non-GAAP financial measures provide useful insight, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.

Please see page 33 for Reg. G reconciliations of all historical Non-GAAP measures used in this release to the most directly comparable GAAP measures. Management has provided forward-looking guidance on certain Non-GAAP measures in connection with its earnings presentation in order to facilitate comparability with the Bancorp’s historical performance and financial condition as reflected in these Non-GAAP measures. Such forward-looking Non-GAAP measures include return on tangible common equity; net interest margin (FTE); adjusted net interest margin; net interest income (FTE); adjusted noninterest income; adjusted noninterest income excluding mortgage banking net revenue; and noninterest income, excluding certain transactions and adjustments related to the Bancorp’s investment in Vantiv, Visa total return swap, and branch sales, closures and consolidations. Bancorp’s management does not estimate on a forward-looking basis the impact of items similar to those that it has excluded to generate these Non-GAAP measures on a historical basis because the occurrence and amounts of items such as these are difficult to predict. As a result, the Bancorp has not provided reconciliations of its forward-looking Non-GAAP measures.

32

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

		For the Three Months Ended
		December 2016		September 2016(4)		June 2016(4)		March 2016(4)		December 2015
Net interest income (U.S. GAAP)		$	903	$	907	$	902	$	903	$	899
Add:	FTE Adjustment		6		6		6		6		5
Net interest income on an FTE basis (a)			909		913		908		909		904
Net interest income (U.S. GAAP) (annualized) (b)			3,592		3,608		3,628		3,632		3,567
Net interest income on an FTE basis (annualized) (c)			3,616		3,632		3,652		3,656		3,587
Net interest income on an FTE basis (a)			909
Add:	Bankcard refunds		16
Adjusted net interest income on an FTE basis (d)			925
Adjusted net interest income on an FTE basis (annualized) (e)			3,680
Noninterest income (f)			620		840		599		637		1,104
Noninterest expense (g)			960		973		983		986		963
Average interest-earning assets (h)			126,548		126,092		126,847		125,651		125,843
Net interest margin (U.S. GAAP) (b)/(h)			2.84%		2.86%		2.86%		2.89%		2.83%
Net interest margin on an FTE basis (c)/(h)			2.86%		2.88%		2.88%		2.91%		2.85%
Adjusted net interest margin (e)/(h)			2.91%
Efficiency ratio (g)/(a)+(f)			62.8%		55.5%		65.3%		63.8%		48.0%
Income before income taxes (U.S. GAAP)			509		694		427		435		949
Add:	FTE Adjustment		6		6		6		6		5
Income before income taxes on an FTE basis			515		700		433		441		954
Net interest income (U.S. GAAP)			903	$	907	$	902	$	903	$	899
Add:	Noninterest income		620		840		599		637		1,104
Less:	Noninterest expense		(960)		(973)		(983)		(986)		(963)
Pre-provision net revenue			563		774		518		554		1,040
Net income available to common shareholders (U.S. GAAP)			372		501		305		311		634
Add:	Intangible amortization, net of tax		—		—		—		—		—
Tangible net income available to common shareholders			372		501		305		311		634
Tangible net income available to common shareholders (annualized) (i)			1,480		1,993		1,227		1,251		2,515
Average Bancorp shareholders’ equity (U.S. GAAP)			16,545		16,883		16,584		16,376		15,982
Less:	Average preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Average goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Average intangible assets and other servicing rights		(10)		(10)		(11)		(12)		(13)
Average tangible common equity (j)			12,788		13,126		12,826		12,617		12,222
Total Bancorp shareholders’ equity (U.S. GAAP)			16,205		16,776		16,726		16,323		15,839
Less:	Preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(10)		(10)		(11)		(12)		(13)
Tangible common equity, including unrealized gains / losses (k)			12,448		13,019		12,968		12,564		12,079
Less:	Accumulated other comprehensive income		(59)		(755)		(889)		(684)		(197)
Tangible common equity, excluding unrealized gains / losses (l)			12,389		12,264		12,079		11,880		11,882
Add:	Preferred stock		1,331		1,331		1,331		1,331		1,331
Tangible equity (m)			13,720		13,595		13,410		13,211		13,213
Total assets (U.S. GAAP)			142,177		143,279		143,625		142,430		141,048
Less:	Goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(10)		(10)		(11)		(12)		(13)
Tangible assets, including unrealized gains / losses (n)			139,751		140,853		141,198		140,002		138,619
Less:	Accumulated other comprehensive income / loss, before tax		(91)		(1,162)		(1,368)		(1,052)		(303)
Tangible assets, excluding unrealized gains / losses (o)		$	139,660	$	139,691	$	139,830		138,950		138,316
Common shares outstanding (p)			750		756		766		770		785
Risk-weighted assets (actual) (q) (1)		$	119,482	$	120,954	$	121,824	$	121,432	$	121,290
Ratios:
Return on average tangible common equity (i) / (j)			11.6%		15.2%		9.6%		9.9%		20.6%
Tangible equity (m) / (o)			9.82%		9.73%		9.59%		9.51%		9.55%
Tangible common equity (excluding unrealized gains/losses) (l) / (o)			8.87%		8.78%		8.64%		8.55%		8.59%
Tangible common equity (including unrealized gains/losses) (k) / (n)			8.91%		9.24%		9.18%		8.97%		8.71%
Tangible book value per share (k) / (p)		$	16.60	$	17.22	$	16.93	$	16.32	$	15.39
Basel III Final Rule - Transition to fully phased-in
CET1 capital (transitional)		$	12,426	$	12,299	$	12,112	$	11,914	$	11,917
Less: Adjustments to CET1 capital from transitional to fully phased-in (2)			(4)		(4)		(4)		(5)		(8)
CET1 capital (fully phased-in) (r)			12,422		12,295		12,108		11,909		11,909
Risk-weighted assets (transitional)			119,482		120,954		121,824		121,432		121,290
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (3)			1,116		929		932		1,027		1,178
Risk-weighted assets (fully phased-in) (s)		$	120,598	$	121,883	$	122,756	$	122,459	$	122,468
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (r)/(s)			10.30%		10.09%		9.86%		9.72%		9.72%

(1) Under the banking agencies’ risk-based capital guidelines, assets and off-balance sheet exposures are assigned to various risk categories based upon the Standardized Approach to Risk-Weighted Assets.

(2) Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities).

(3) Primarily relates to higher risk-weighting for MSRs

(4) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

33

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended December 31, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	453	$	397	$	63	$	41	($	45)	$	909
(Provision for) benefit from loan and lease losses		43		(34)		(12)		—		(51)		(54)
Net interest income after provision for loan and lease losses		496		363		51		41		(96)		855
Total noninterest income		221		188		69		99		43		620
Total noninterest expense		(359)		(400)		(117)		(103)		19		(960)
Income (loss) before income taxes		358		151		3		37		(34)		515
Applicable income tax expense(a)		(78)		(53)		(1)		(13)		25		(120)
Net income (loss)		280		98		2		24		(9)		395
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		280		98		2		24		(9)		395
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	280	$	98	$	2	$	24	($	32)	$	372
For the three months ended September 30, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations(e)		Total(e)
Net interest income(a)	$	462	$	414	$	63	$	40	($	66)	$	913
(Provision for) benefit from loan and lease losses		18		(34)		(12)		—		(52)		(80)
Net interest income after provision for loan and lease losses		480		380		51		40		(118)		833
Total noninterest income		228		163		71		99		279		840
Total noninterest expense		(349)		(402)		(117)		(103)		(2)		(973)
Income (loss) before income taxes		359		141		5		36		159		700
Applicable income tax expense(a)		(80)		(50)		(2)		(13)		(39)		(184)
Net income (loss)		279		91		3		23		120		516
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		279		91		3		23		120		516
Dividends on preferred stock		—		—		—		—		15		15
Net income (loss) available to common shareholders	$	279	$	91	$	3	$	23	$	105	$	501
For the three months ended June 30, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations(e)		Total(e)
Net interest income(a)	$	466	$	433	$	62	$	44	($	97)	$	908
Provision for loan and lease losses		(72)		(35)		(9)		(1)		26		(91)
Net interest income after provision for loan and lease losses		394		398		53		43		(71)		817
Total noninterest income		236		214		80		100		(31)		599
Total noninterest expense		(355)		(409)		(122)		(108)		11		(983)
Income (loss) before income taxes		275		203		11		35		(91)		433
Applicable income tax expense(a)		(49)		(71)		(4)		(12)		27		(109)
Net income (loss)		226		132		7		23		(64)		324
Less: Net income attributable to noncontrolling interests		—		—		—		—		(4)		(4)
Net income (loss) attributable to Bancorp		226		132		7		23		(60)		328
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	226	$	132	$	7	$	23	($	83)	$	305
For the three months ended March 31, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations(e)		Total(e)
Net interest income(a)	$	457	$	426	$	60	$	43	($	77)	$	909
Provision for loan and lease losses		(65)		(34)		(12)		—		(8)		(119)
Net interest income after provision for loan and lease losses		392		392		48		43		(85)		790
Total noninterest income		223		189		83		100		42		637
Total noninterest expense		(363)		(411)		(118)		(107)		13		(986)
Income before income taxes		252		170		13		36		(30)		441
Applicable income tax expense(a)		(41)		(60)		(5)		(13)		4		(115)
Net income		211		110		8		23		(26)		326
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		211		110		8		23		(26)		326
Dividends on preferred stock		—		—		—		—		15		15
Net income available to common shareholders	$	211	$	110	$	8	$	23	($	41)	$	311
For the three months ended December 31, 2015(b)	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	425	$	406	$	63	$	37	($	27)	$	904
Provision for loan and lease losses		(27)		(35)		(11)		—		(18)		(91)
Net interest income after provision for loan and lease losses		398		371		52		37		(45)		813
Total noninterest income		223		186		80		101		514		1,104
Total noninterest expense		(338)		(393)		(116)		(112)		(4)		(963)
Income before income taxes		283		164		16		26		465		954
Applicable income tax expense(a)		(55)		(57)		(6)		(9)		(170)		(297)
Net income		228		107		10		17		295		657
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		228		107		10		17		295		657
Dividends on preferred stock		—		—		—		—		23		23
Net income available to common shareholders	$	228	$	107	$	10	$	17	$	272	$	634

(a) Includes taxable equivalent adjustments of $6 million for the three months ended December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016 and $5 million for the three months ended December 31, 2015.

(b) 2015 balances have been adjusted to reflect changes in internal allocation methodologies.

(c) Branch Banking provides a full range of deposit and loan and lease products to individuals and small businesses through full-service banking centers.

(d) Consumer Lending includes the Bancorp’s residential mortgage, home equity, automobile and other indirect lending activities.

(e) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

34

EX-99.2

4Q16 Earnings Presentation

January 24, 2017

Refer to earnings release dated January 24, 2017 for further information.

Exhibit 99.2

Cautionary statement

This presentation contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule

175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our

financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified

by

the use of forward-looking language such as “will

likely result,” “may,” “are expected to,” “anticipates,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,”

“plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs.

You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent

Annual Report on Form 10-K as updated from time to time by our Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in

mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are

made and based only on information then actually known to us. There is a risk that additional information may become known during the company’s quarterly closing process or

as a result of subsequent events that could affect the accuracy of the statements and financial information contained herein.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might

cause such a difference include, but are not limited to: (1) general economic or real estate market conditions, either nationally or in the states in which Fifth Third, one or more

acquired entities and/or the combined company do business, weaken or are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or

other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5)

prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of

funding and liquidity; (7) maintaining capital requirements and adequate sources of funding and liquidity may limit Fifth Third’s operations and potential growth; (8) changes and

trends in capital markets; (9) problems encountered by larger or similar financial institutions may adversely affect the banking

industry and/or Fifth Third; (10) competitive

pressures among depository institutions increase significantly; (11) effects of critical accounting policies and judgments; (12)

changes in accounting policies or procedures as

may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (13) legislative or regulatory changes or actions, or significant litigation,

adversely affect Fifth Third, one or more acquired entities and/or the combined company or the businesses in which Fifth Third, one or more acquired entities and/or the

combined company are engaged, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; (14) ability to maintain favorable ratings from rating agencies;

(15) fluctuation of Fifth Third’s stock price; (16) ability to attract and retain key personnel; (17) ability to receive dividends from its subsidiaries; (18) potentially dilutive effect of

future acquisitions on current shareholders’ ownership of Fifth Third; (19) effects of accounting or financial results of one

or

more acquired entities; (20) difficulties from Fifth

Third’s investment in, relationship with, and nature of the operations of Vantiv, LLC; (21) loss of income from any sale or potential sale of businesses; (22) difficulties in

separating the operations of any branches or other assets divested; (23) losses or adverse impacts on the carrying values of branches and long-lived assets in connection with

their sales or anticipated sales; (24) inability to achieve expected benefits from branch consolidations and planned sales within desired timeframes, if at all; (25) ability to secure

confidential information and deliver products and services through the use of computer systems and telecommunications networks; and (26) the impact of reputational risk

created by these developments on such matters as business generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further

information on other factors, which could cause

actual results to be significantly different from those expressed or implied by these forward-looking statements.

In this presentation, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts,

investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide GAAP reconciliations for non-

GAAP measures in a later slide in this presentation as well as in our earnings release, both of which are available in the investor relations section of our website, www.53.com.

Management has provided forward-looking guidance on certain non-GAAP measures in connection with this presentation in order to facilitate comparability with the Bancorp’s

historical performance and financial condition as reflected in these non-GAAP measures. Such forward-looking non-GAAP measures include return on tangible common equity;

net interest margin (FTE); net interest income (FTE); adjusted noninterest income excluding mortgage banking net revenue; and adjusted noninterest income, excluding certain

transactions and adjustments related to the Bancorp’s investment in Vantiv, Visa total return swap, and branch sales, closures and consolidations. Bancorp’s management does

not estimate on a forward-looking basis the impact of items similar to those that it has excluded to generate these non-GAAP measures on a historical basis because the

occurrence and amounts of items such as these are difficult to predict. As a result, the Bancorp has not provided reconciliations of its forward-looking non-GAAP measures.

©

Fifth Third Bank | All Rights Reserved

2

3

Adjusted

1

NII of $925 million, up $12 million

sequentially; adjusted

1

NIM of 2.91%, up 3 bps

sequentially

Reported NII decreased $4 million vs. 3Q16; NIM

(FTE) decreased 2 bps to 2.86%

1

vs. 3Q16

Adjusted

1

noninterest income up 2% vs. 3Q16

Reported noninterest income down 26% vs. 3Q16

primarily driven by Vantiv-related items

Tightly-managed operating expenses; adjusted

1

noninterest expenses down 2% vs. 3Q16

Reported noninterest expenses down 1% vs. 3Q16

Improving charge-offs and criticized assets;

commercial full year NCO ratio at 15 year low

Executing on North Star initiatives

Overall solid credit quality in-line with expectations

Fourth quarter 2016

Diluted EPS

$0.49

Included $0.01 net positive

impact for certain items

2

Net income

$395 million

Fourth quarter 2016

highlights

1

Non-GAAP

measure:

See

Reg

G

reconciliation

on

pages

22

and

23

of

this

presentation

and

use

of

non-GAAP

measures

on

page

32

of

the

earnings

release

2

See page 4

of the presentation for impact of certain items

Full year 2016

Diluted EPS            

$1.93    

Net Income

$1.6 billion

©

Fifth Third Bank | All Rights Reserved

Pre-tax items included in 4Q16 results

had a net positive $0.01 EPS impact:

A $16 million pre-tax (~$10 million

after-tax ) reduction to net interest

income for refunds offered to

certain card customers

A $9 million pre-tax (~$6 million

after-tax ) gain from the net exercise

of the Vantiv warrant

A $6 million pre-tax (~$4 million

after-tax ) benefit related to the

valuation of the Visa total return

swap

A $6 million tax benefit from the

early adoption of an accounting

standard

Credit trends

NCO ratio of 31 bps; down 14

bps

vs. 3Q16

Portfolio NPA ratio of 80 bps; up 5

bps vs. 3Q16 

4Q16 in review

Non-GAAP

measure:

See

Reg

G

reconciliation

on

pages

22

and

23

of

this

presentation

and

use

of

non-GAAP

measures

on

page

32

of

the

earnings

release

Assumes a 35% tax rate

($ millions)

4Q16

Seq.

YOY

Loans & leases

(ex. HFS)

$92,964

(1%)

(1%)

Core deposits

$100,949

2%

1%

Net interest income

$903

-

-

Taxable equivalent adjustment

6

-

20%

Net interest income (taxable equivalent)

909

-

1%

Provision for loan and lease losses

54

(33%)

(41%)

Noninterest income

620

(26%)

(44%)

Noninterest expense

960

(1%)

-

Net income attributable to Bancorp

$395

(23%)

(40%)

Net income available to common

shareholders

$372

(26%)

(41%)

Earnings per share, diluted

0.49

(25%)

(38%)

Net interest margin (FTE)

2.86%

(2bps)

1bp

Efficiency ratio (FTE)

62.8%

730bps

1480bps

Return on average assets

1.11%

(33bps)

(72bps)

Return on average common equity

9.7%

(310bps)

(750bps)

Return on average tangible common equity

11.6%

(360bps)

(900bps)

Tangible book value per share

$  16.60

(4%)

8%

1

2

1

1

1

2

©

Fifth Third Bank | All Rights Reserved

4

1

Average

Balances

Income

Statement

Data

Financial

Ratios

2

2

2

5

Avg +1% YoY

$95.7

$94.7

$94.9

$94.9

$97.0

94%

94%

95%

95%

92%

4Q15

1Q16

2Q16

3Q16

4Q16

$29.0

$29.7

$30.1

$29.8

$30.8

4Q15

1Q16

2Q16

3Q16

4Q16

Average securities

Short-term  investments

FY: 2% loan growth (EOP, excluding HFS)

Continuing to maintain pricing discipline

$93.6

$93.3

$93.9

$93.5

$93.0

4Q15

1Q16

2Q16

3Q16

4Q16

Balance sheet

Loan & lease balances

1

($ billions)

•

Transaction deposits up 2% vs. 3Q16,

driven by increased:

–

Commercial interest checking

–

Consumer money market

•

Average loan-to-core deposit ratio of 92%

•

Modified LCR of 128% at 4Q16

Core deposit balances

1

($ billions)

$100.9

$99.7

Securities and

short-term investments

1

($ billions)

•

Average securities up $1.8B YoY

driven by:

–

Opportunistically deploying cash

at more attractive entry points

than those experienced in prior

quarters

•

Securities portfolio / total assets of

21.7% compared to 20.4% in 4Q15

1

All balances are on an average basis; loans balances exclude HFS

•

Commercial down 1% vs. 3Q16; flat YoY

–

C&I down 1% vs. 3Q16 and 1% YoY

–

CRE up 1% vs. 3Q16 and 7% YoY

•

Consumer flat vs. 3Q16; down 2% YoY

–

Auto down 3% vs. 3Q16 and 13% YoY

–

HE down 2% vs. 3Q16 and 7% YoY

–

Mortgage up 3% vs. 3Q16 and 10% YoY

$98.9

$99.0

$98.7

Transaction

Other time

Loan-to-core

deposit ratio

Current Outlook:

Avg -1% YoY

$31.3

$31.6

$32.0

$31.7

$32.6

©

Fifth Third Bank | All Rights Reserved

6

FY: NII (FTE) up 3.5 -

5% and NIM (FTE) of 2.95 –

3.00%

Q1: NII (FTE) up 1.5 –

2% and NIM (FTE) up 8 -

9 bps from reported results

(lower-end of FY ranges assumes no additional rate hikes, higher-end assumes June & September rate hikes)

1

Non-GAAP measure: See Reg

G reconciliation on pages 22 and 23 of this presentation and use of non-GAAP measures on page 32 of the earnings release

$925

•

Adjusted NII & NIM performance driven

by:

-

improved short-term market rates

-

continued pricing discipline

•

NII was up $21 million, or 2%

•

NIM up 6 bps

4Q16 vs. 3Q16

4Q16 vs. 4Q15

•

Adjusted NII & NIM performance driven

by:

-

improved short-term market rates

-

continued pricing discipline

•

NII was up $12 million, or 1%

•

NIM up 3 bps

Current Outlook

1

:

NII and NIM (FTE)

1

($ millions)

Net interest income

©

Fifth Third Bank | All Rights Reserved

7

©

Fifth Third Bank | All Rights Reserved

$1,104

$637

$599

$840

$620

$623

$578

$602

$596

$608

4Q15

1Q16

2Q16

3Q16

4Q16

Noninterest income

($ millions)

Noninterest income

Adjusted noninterest income

FY: adjusted up 3.5 -

4%, excluding mortgage

Q1: adjusted flat sequentially, excluding mortgage and TRA payment

(mortgage revenue excluded given volatility from  significant increase in interest rates at the end of 2016)

Noninterest income

1

Non-GAAP

measure:

See

Reg

G

reconciliation

on

pages

22

and

23

of

this

presentation

and

use

of

non-GAAP

measures

on

page

32

of

the

earnings

release

2

2016 excludes all items previously disclosed in the “noninterest income excluding certain items” section of the 2016 earnings releases, including all Vantiv transactions and gains, branch

valuation adjustments and gains, the Visa total return swap, the impact of transferring certain nonconforming investments to HFS, the gain on the agent card portfolio, the gain on non-branch

facility, and gains/losses on securities, resulting in $2.384BN in 2016 ($2.1BN excluding all mortgage banking net revenue)

Adjusted

1

noninterest income up $12

million, or 2%; performance driven by:

Annual Vantiv TRA payment

Partially offset by lower corporate

banking revenue

4Q16 vs. 3Q16

4Q16 vs. 4Q15

Adjusted

1

noninterest income down $15

million, or 2%; performance driven by:

Decrease in mortgage banking net

revenue

1

Current Outlook

1,2

:

8

Noninterest expense

1

Non-GAAP measure: See Reg

G reconciliation on pages 22 and 23 of this presentation and use of non-GAAP measures on page 32 of the earnings release

FY: 1% annual growth

Q1: 2% growth year-over-year

$963

$986

$983

$973

$960

$951

$971

$971

$966

$951

4Q15

1Q16

2Q16

3Q16

4Q16

Noninterest expense

Adjusted noninterest expense

Noninterest expense

($ millions)

•

Adjusted

1

noninterest expense down

2%;  performance driven by:

-

Decrease

in tech and comm. expense

-

Decrease in provision for unfunded

commitments

-

Seasonally lower marketing expense

4Q16 vs. 3Q16

4Q16 vs. 4Q15

•

Adjusted

1

noninterest expense

flat;

performance driven by:

-

Lower card and processing expense

-

Lower net occupancy

•

Partially offset by increased compensation

expense as a result of personnel additions

in risk and compliance and IT

1

Current Outlook:

©

Fifth Third Bank | All Rights Reserved

9

•

Expense growth in 2017 includes the impact of North Star initiatives

•

Excluding the impact of these incremental expenses, 2017 expenses would be

expected to decrease by 50 bps compared to our guidance of 1% growth

year-end

2017

Select North Star Initiatives

Expanded mortgage capacity via new system

Teller automation

Omni-channel distribution investments

New credit card products and investments in analytics

GreenSky -

originations

Specialty and Asset-Based Lending growth

New vertical build-outs

End-to-end process re-design

Continued capital markets growth

Enhanced profitability measurement capabilities

Treasury Mgmt. product expansion and optimization

Compensation plan re-design / headcount rationalization

Renegotiate major vendor contracts

Automation and robotics initiatives

Non-branch rationalization and workspace management

Primary Focus

Revenue / Expense

R + E

E

R + E

R

R

R

R

R + E

R

R + E

E

E

E

E

Ongoing initiatives

<50%

50-75%

76-100%

R

year-end

2018

year-end

2019

Progress towards full

financial run-rate impact

GreenSky -

full channel integration & digital capabilities

R

North Star initiatives

10

•

4Q16

net charge-offs of 0.31%, down 14

bps

from 3Q16, including a $36MM decrease in C&I

loan NCOs

•

4Q16 portfolio NPAs up $40MM from 3Q16

-

Single credit drove increase in NPAs

•

4Q16 criticized asset ratio down 53 bps; lowest

since 2007

•

4Q16 reserve of 1.36% down 1 bp

sequentially

Credit quality overview

NCOs range-bound with potential quarterly variability

Provision reflective of loan growth

$1,272

$1,295

$1,299

$1,272

$1,253

1.37%

1.38%

1.38%

1.37%

1.36%

4Q15

1Q16

2Q16

3Q16

4Q16

Reserve coverage

($ millions)

Allowance for Loan & Lease Losses (ALLL)

ALLL / Loans and Leases

$80

$96

$87

$107

$73

Current Outlook:

$46

$42

$41

$44

$45

4Q15

1Q16

2Q16

3Q16

4Q16

Net charge-offs

($ millions)

Commercial

Consumer

Total NCO Ratio

$419

$611

$602

$513

$564

$228

$214

$203

$185

$174

0.70%

0.88%

0.86%

0.75%

0.80%

$647

$825

$805

$698

$738

4Q15

1Q16

2Q16

3Q16

4Q16

Commercial

Consumer

Total NPA Ratio

HFI non-performing assets

($ millions)

$54

$46

$63

$28

0.34%

0.42%

0.37%

0.45%

0.31%

$34

©

Fifth Third Bank | All Rights Reserved

11

Strong capital and liquidity position

1

Current period regulatory capital ratios are estimated

2

Net of issuance for employee stock compensation; including the issuance, gross payout ratios were 77% in 2014, 78% in 2015, and 66% in 2016

Capital Update

CET1 strong and improved to 10.40%, up 23 bps sequentially and 58 bps from 4Q15

Tier I risk-based capital 11.51%; Total risk-based capital 15.00%; Leverage 9.90%

Share repurchases reduced common shares outstanding by 35

million shares in 2016

$986 million of total capital returned to common shareholders

2

Liquidity Update

Modified LCR of 128% in 4Q16, up from 115% in 3Q16

9.8%

9.8%

9.9%

10.2%

10.4%

4Q15

1Q16

2Q16

3Q16

4Q16

Common Equity Tier 1 Ratio (Basel III)

1

Impacted by 3Q16 Vantiv TRA gains

recognized but not realized; excluding

impact, payout rate was 66%

©

Fifth Third Bank | All Rights Reserved

42%

48%

37%

30%

26%

26%

72%

74%

63%

2014

2015

2016

Share Repurchases

Dividends

Total Capital Returned to Common Shareholders

2

12

©

Fifth Third Bank | All Rights Reserved

Current outlook

1

Non-GAAP

measure:

See

Reg

G

reconciliation

on

pages

22

and

23

of

this

presentation

and

use

of

non-GAAP

measures

on

page

32

of

the

earnings

release

2

2016 excludes all items previously disclosed in the “noninterest income excluding certain items” section of the earnings release, including all Vantiv transactions and gains, branch valuation

adjustments

and

gains,

the

Visa

total

return

swap,

the

impact

of

transferring

certain

nonconforming

investments

to

HFS,

the

gain

on

the

agent

card

portfolio,

the

gain

on

non-branch

facility,

and gains/losses on securities, resulting in $2.384B in 2016 ($2.1B excluding all mortgage banking revenue)

Note: Previous and current outlook excludes potential, but currently unforecasted, items, such as any potential additional Vantiv gains or losses, future capital actions, or changes in regulatory

or accounting guidance

Outlook as of January 24, 2017;

please see cautionary statement on slide 2 regarding forward-looking statements

Total loans & leases

(excl. HFS)

Net

interest

income

(FTE)

1

Net

interest

margin

(FTE)

1

Noninterest income

1,2

Noninterest expense

Effective tax rate

Credit items

FY 2017: 2% annual growth (EOP)

FY 2017: Up 3.5 –

5% (lower-end w/ no additional hikes, higher-end w/ June & Sept hikes)

Q1 2017: Up 1.5 –

2% from the reported fourth quarter NII

FY 2017: 2.95% -

3.00% (lower-end w/ no additional hikes, higher-end w/ June & Sept hikes)

Q1 2017: Up by 8 -

9 bps from the reported fourth quarter NIM

FY 2017: Adjusted up 3.5 –

4%, excluding mortgage

Q1 2017: Adjusted flat, excluding mortgage and Q4 TRA payment

mortgage revenue excluded given volatility from significant increase in interest rates at the end of 2016

FY 2017: 1% annual growth

Q1 2017: 2% growth year-over-year

FY 2017: mid 25% range (assumes no Federal corporate tax reform)

NCOs range-bound with potential quarterly variability

Provision reflective of loan growth

13

©

Fifth Third Bank | All Rights Reserved

Appendix

14

PPNR

and

efficiency

ratio

trends

Non-GAAP

measures:

See

Reg

G

reconciliation

on

pages

22

and

23

of

this

presentation

and

use

of

non-GAAP

measures

on

page

32

of

the

earnings

release

Prior quarters include similar adjustments

©

Fifth Third Bank | All Rights Reserved

($ in millions)

4Q15

1Q16

2Q16

3Q16

4Q16

Net interest income (FTE)

$904

$909

$908

$913

$909

Add: Noninterest income

1,104

637

599

840

620

Less: Noninterest expense

963

986

983

973

960

Pre-provision net revenue

$1,045

$560

$524

$780

$569

Adjustments

to

remove

(benefit)

/

detriment

:

2

In

net

interest

income:

Bankcard refunds

-

-

-

-

16

In

noninterest

income:

Gain on sale of Vantiv shares

(331)

-

-

-

-

Gain on Vantiv warrant actions

(89)

-

-

-

(9)

Vantiv TRA settlement payment

(49)

-

-

-

-

Gain from termination and settlement of Vativ

TRA

-

-

-

(280)

-

Gain on sale from the sale of a non-branch facility

-

-

-

(11)

-

Branch and land valuation adjustments

-

-

-

28

-

Valuation of 2009 Visa total return swap

10

(1)

50

12

(6)

Transfer of nonconforming investments under Volcker to HFS

-

-

-

9

-

Vantiv warrant valuation

(21)

(47)

(19)

2

-

Gain on sale of certain branches

-

(8)

(11)

-

-

Gain on sale of the agented bankcard loan portfolio

-

-

(11)

-

-

Gain from sales of troubled debt restructurings

-

-

-

-

-

Impairment associated with aircraft leases

-

-

-

-

-

Securities (gains) / losses

(1)

(3)

(6)

(4)

3

In

noninterest

expense:

Contribution to Fifth Third Foundation

10

-

-

3

5

Severance expense

2

15

3

4

4

Retirement eligibility changes

-

-

9

-

-

Executive Retirements

-

-

-

-

-

Adjusted PPNR

$576

$516

$539

$543

$582

PPNR reconciliation

1

1

2

•

Adjusted PPNR up 7% vs. 3Q16 driven by:

–

Improvements in NII, noninterest income and

noninterest expense resulted in ~200 bps decline in

adjusted efficiency ratio

•

Adjusted PPNR up 1% YoY

–

Improvement in NII and flat expenses, partially offset

by lower noninterest income resulted in ~20 bps

decline in adjusted efficiency ratio

$576

$516

$539

$543

$582

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

$1,100

4Q15

1Q16

2Q16

3Q16

4Q16

PPNR Trend

($ millions)

Adjusted PPNR

Reported PPNR

48.0%

63.8%

65.3%

55.5%

62.8%

62.2%

65.3%

64.3%

64.0%

62.0%

4Q15

1Q16

2Q16

3Q16

4Q16

Efficiency ratio

Efficiency Ratio

Adjusted Efficiency Ratio

15

©

Fifth Third Bank | All Rights Reserved

Strong liquidity profile

1

Available and contingent borrowing capacity (4Q16):

–

FHLB ~$10.8B available, ~$14.7B total

–

Federal Reserve ~$31.5B

Holding Company:

Modified LCR of 128%

Holding Company cash at 12/31/16: $2.4B

Cash currently sufficient to satisfy all fixed obligations in a stressed

environment for ~24

months (debt maturities, common and preferred

dividends, interest and other expenses) without accessing capital

markets, relying on dividends from subsidiaries or any other actions

$500MM maturity in 1Q17

Bank Entity:

$250MM of debt matured in 4Q16

The Bank did not issue any additional debt in 4Q16

2017 Funding Plans:

The $650MM debt maturity at the Bank will take place in 2Q17

Fifth Third would not be required to replace 2017 debt maturities to

maintain our current senior debt ratings under the Moody’s LGF

methodology

Any additional debt issuance in 2017 would result from general balance

sheet management and prudent liquidity risk management

$500

$500

$500

$1,100

$2,312

2017

2018

2019

2020

2021

2022 on

Fifth Third Bancorp

Fifth Third Capital Trust (Bancorp)

Holding company unsecured debt maturities

($ millions)

$650

$1,850

$2,600

$2,100

$750

2017

2018

2019

2020

2021

2022 on

Bank unsecured debt maturities

($

millions –

excl. Retail Brokered & Institutional CDs)

Demand

25%

Interest

checking

19%

Savings/

MMDA

24%

Consumer

time

3%

Foreign

Office

0%

Non-Core

Deposits

2%

S-T

borrowings

3%

Other

liabilities

3%

Equity

11%

L-T debt

10%

Heavily core funded as of 12/31/2016

S-T

wholesale

5%

16

©

Fifth Third Bank | All Rights Reserved

Balance sheet positioning

Commercial

Loans

1,2

Investment

Portfolio

Consumer

Loans1

Note: Data as of 12/31/16

Includes HFS Loans & Leases

Fifth Third had $4.48BN 1ML receive-fix swaps outstanding against C&I loans, which are being included in fixed

Fifth Third had $3.46BN 3ML receive-fix swaps outstanding against long term debt, which are being included in floating, long term debt with swaps outstanding reflected at fair value

•

Fixed: $14.0B

1, 2

•

Float: $42.5B

1, 2

•

1ML based: 62%

(of total commercial)

•

3ML based: 8%  (of total commercial)

•

Prime based: 4% (of total commercial)

•

Weighted avg. life: 1.65 years

•

50% allocation to bullet/locked-out

cash flow securities

•

Investment portfolio yield: 3.17%

•

Duration: 4.9 years

•

Net unrealized pre-tax gain: $159MM

•

99% AFS

•

Fixed:

$25.1B

•

Float:

$11.3B

•

12ML based: 3%  (of total consumer)

•

Prime based: 24% (of total consumer)

•

Weighted avg. life: 3.76 years

•

Auto weighted avg. life: 1.39 years

Long Term

Debt3

Key Characteristics

Balance Sheet Mix

Fixed vs. Floating

Level 1

100% Fix  /  0% Float

Level 2A

100% Fix  /  0% Float

Non-HQLA

/Other

78% Fix  /  22% Float

C&I

20% Fix  /  80% Float

Commercial

Mortgage

24% Fix  /  76% Float

2% Fix  /  98% Float

Commercial

Construction

100% Fix  /  0% Float

Commercial

Lease

Resi Mtg &

Construction

88% Fix  /  12% Float

Auto

99% Fix  /  1% Float

8% Fix  /  92% Float

Home Equity

30% Fix  /  70% Float

Credit Card

100% Fix  /  0% Float

Other

•

Fixed: $10.3B

•

Float:

$4.0B

•

1ML based: <1% (of total long term debt)

•

3ML based: 28%  (of total long term debt)

•

Weighted avg. life: 4.38 years

Senior Debt

76% Fix  /  24% Float

Sub Debt

55% Fix  /  45% Float

97% Fix  /  3% Float

Auto Securiz.

Proceeds

0% Fix  /  100% Float

TRUPS

100% Fix  /  0% Float

Other

34%

46%

20%

74%

12%

7%

7%

64%

27%

8%

1%

<1%

21%

28%

2%

6%

43%

1

2

3

3

1

3

3

1

1

17

Interest rate risk management

Data as of 12/31/16

1

Actual

results

may

vary

from

these

simulated

results

due

to

differences

between

forecasted

and

actual

balance

sheet

composition,

timing,

magnitude,

and

frequency

of

interest

rate

changes, as well as other changes in market conditions and management strategies. 

2

Re-pricing percentage or “beta” is the estimated change in yield over 12 months as a result of a shock or ramp 100 bps parallel shift in the yield curve

•

NII benefits from asset rate reset in a rising rate environment

–

58% of total loans are floating rate considering impacts of interest rate swaps (75% of

total commercial and

31% of total consumer)

–

Investment portfolio duration of 4.9 years

–

Short-term borrowings represent approximately 18% of total wholesale funding, or 3% of total funding

–

Approximately $12 billion in non-core funding matures beyond one year

•

Interest rate sensitivity tables are based on conservative deposit assumptions

–

70% beta on all interest-bearing deposit and sweep balances (~50% betas experienced in 2004 –

2006 Fed

tightening cycle)

–

No modeled re-pricing lag

–

Modeled non-interest bearing commercial DDA runoff of approximately $2.5 billion (about 10%) for each 100

bps increase in rates

–

DDA runoff rolls into an interest bearing product with a 100% beta

Change in Interest Rates (bps)

+200 Shock

Change in Interest Rates (bps)

+100 Shock

+200 Ramp over 12 months

1.88%

6.78%

(4.00%)

+25 Shock

+100 Ramp over 12 months

1.13%

4.32%

-

-75 Shock

-75 Ramp over 6 months

(5.77%)

(10.62%)

-

Betas 25% Higher

Betas 25% Lower

Change in Interest Rates (bps)

12

Months

13-24

Months

12

Months

Change in Interest Rates (bps)

12

Months

13-24

Months

12

Months

13-24

Months

+200 Ramp over 12 months

1.61%

6.24%

2.15%

+200 Ramp over 12 months

(1.56%)

(0.10%)

5.32%

13.66%

+100 Ramp over 12 months

1.00%

4.05%

1.27%

+100 Ramp over 12 months

(0.59%)

0.88%

2.85%

7.76%

7.31%

4.58%

-

Estimated NII Sensitivity with Demand Deposit Balance Changes

% Change in NII (FTE)

(12.00%)

% Change in NII (FTE)

$1B Balance Decrease

$1B Balance Increase

13-24

Months

(4.96%)

-

-

-

Estimated NII Sensivity with Deposit Beta Changes

(2.00%)

(6.00%)

(0.36%)

-

(0.14%)

12

Months

13-24

Months

12

Months

13-24   

Months

Estimated NII Sensitivity Profile and ALCO Policy Limits

Estimated EVE Sensitivity Profile and ALCO Policy Limits

% Change in

NII (FTE)

ALCO Policy Limits

Change in EVE

ALCO Policy Limit

©

Fifth Third Bank | All Rights Reserved

18

Mortgage banking results

•

$2.7B in originations, up 54% YoY; 41% purchase volume

•

4Q16 mortgage banking drivers:

–

Origination fees and gain on sale revenue down $31MM, or 51%, vs. 3Q16

–

Gain on sale margin down 132 bps vs. 3Q16

–

Net MSR valuation adjustments of positive $23MM; servicing rights amortization of $35MM

–

$48MM in gross servicing fees

•

YoY decline in mortgage banking revenue driven primarily by lower origination fees and gains

on loan sales

1

Gain on sale margin represents gains on all loans originated for sale

$1.11

$1.06

$1.70

$1.79

$1.66

$0.66

$0.70

$1.05

$1.09

$1.06

2.89%

3.47%

2.62%

3.01%

1.69%

4Q15

1Q16

2Q16

3Q16

4Q16

Originations for sale

Originations HFI

Margin

Mortgage originations and gain-on-sale margins

($ billions)

37

42

54

61

30

53

52

50

49

48

(29)

(27)

(35)

(35)

(35)

13

11

6

(9)

23

4Q15

1Q16

2Q16

3Q16

4Q16

Mortgage banking revenue

($ millions)

©

Fifth Third Bank | All Rights Reserved

1

19

©

Fifth Third Bank | All Rights Reserved

•

4Q16 warrant net exercise and share sale successfully executed; resulted

in ~$6MM after-tax gain and 4 bps increase in CET1

•

Vantiv gains monetized since 4Q15 resulting in ~$493MM in after-tax value

to shareholders:

–

4Q15: $32MM related to TRA termination and settlement

–

4Q15: $273MM related to warrant cancellation and share sale gains

–

3Q16: $182MM related to TRA termination and settlement

–

4Q16: $6MM warrant net exercise and share sale gains

•

Transactions reduce future volatility in reported results

•

17.9% ownership interest in Vantiv Holdings LLC

•

Will continue to account for ownership under equity method of accounting

•

Significant contractual arrangements between Fifth Third and Vantiv

Continuing to monetize our Vantiv stake

20

NPL rollforward

NPL HFI Rollforward

Commercial

4Q15

1Q16

2Q16

3Q16

4Q16

286

$        

341

$        

543

$        

539

$        

460

$        

Transfers to nonaccrual status

165

306

104

145

162

Transfers to accrual status

(3)

(3)

(6)

-

(4)

Transfers from held for sale

-

-

-

-

-

Transfers to held for sale

(12)

(3)

-

(36)

(3)

Loans sold from portfolio

(2)

(6)

(2)

(3)

-

Loan paydowns/payoffs

(37)

(39)

(52)

(112)

(53)

Transfers to OREO

(13)

(1)

(3)

(1)

(3)

Charge-offs

(46)

(60)

(51)

(81)

(40)

Draws/other extensions of credit

3

8

6

9

5

341

$        

543

$        

539

$        

460

$        

524

$        

Consumer

4Q15

1Q16

2Q16

3Q16

4Q16

172

$        

165

$        

158

$        

154

$        

141

$        

Transfers to nonaccrual status

56

55

56

45

43

Transfers to accrual status

(28)

(33)

(31)

(28)

(21)

Transfers from held for sale

-

-

-

-

-

Transfers to held for sale

-

-

-

-

-

Loans sold from portfolio

-

-

-

-

-

Loan paydowns/payoffs

(10)

(9)

(11)

(10)

(8)

Transfers to OREO

(9)

(6)

(7)

(7)

(5)

Charge-offs

(16)

(14)

(11)

(13)

(14)

Draws/other extensions of credit

-

-

-

-

-

165

$        

158

$        

154

$        

141

$        

136

$        

Total NPL

506

$        

701

$        

693

$        

601

$        

660

$        

Total new nonaccrual loans - HFI

221

$        

361

$        

160

$        

190

$        

205

$        

Beginning NPL amount

Ending Commercial NPL

Beginning NPL amount

Ending Consumer NPL

©

Fifth Third Bank | All Rights Reserved

Credit trends

Residential Mortgage

Commercial & Industrial

Home Equity & Automobile

Commercial Real Estate

* Excludes loans held-for-sale

21

©

Fifth Third Bank | All Rights Reserved

22

©

Fifth Third Bank | All Rights Reserved

Regulation G non-GAAP reconciliation

See page 32 of the earnings release for a discussion on the use of non-GAAP financial measures

23

Regulation G non-GAAP reconciliation

See page 32 of the earnings release for a discussion on the use of non-GAAP financial measures

©

Fifth Third Bank | All Rights Reserved

EX-99.3

Exhibit 99.3

January 2017

QUARTERLY FINANCIAL SUPPLEMENT

Investment Community Member:

To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.

Numbers are unaudited for quarterly information.

If you need further information, please fax or e-mail your request to Fifth Third’s Investor Relations Department at (513) 534-0629 or IR@53.com

Sameer Gokhale

Senior Director

Investor Relations

(513) 534-2219

Quarterly Data

	Three Months Ended
	December		September		June		March		December		September		June		March
	2016		2016(e)		2016(e)		2016(e)		2015		2015		2015		2015
Ratios (percent)
Return on average assets		1.11		1.44		0.92		0.93		1.83		1.07		0.90		1.06
Return on average common equity		9.7		12.8		8.0		8.3		17.2		10.0		8.1		9.7
Average total Bancorp shareholders’ equity as a percent of average assets		11.66		11.83		11.60		11.57		11.26		11.24		11.32		11.50
Net interest margin(a)(d)		2.86		2.88		2.88		2.91		2.85		2.89		2.90		2.86
Efficiency(a)(d)		62.8		55.5		65.3		63.8		48.0		58.2		65.4		62.3
Net losses charged-off as a percent of average portfolio loans and leases		0.31		0.45		0.37		0.42		0.34		0.80		0.37		0.41
ALLL as a percent of portfolio loans and leases		1.36		1.37		1.38		1.38		1.37		1.35		1.39		1.42
Allowance for credit losses as a percent of portfolio loans and leases(c)		1.54		1.54		1.54		1.54		1.52		1.49		1.54		1.57
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(b)		0.80		0.75		0.86		0.88		0.70		0.65		0.67		0.76
Allowance for loan and lease losses as a percent of nonperforming assets(b)		170		182		161		157		197		208		206		188
Allowance for credit losses as a percent of nonperforming assets(b)		192		205		180		174		218		230		228		207
Common Share Data
Earnings per share - basic	$	0.49	$	0.66	$	0.40	$	0.40	$	0.80	$	0.46	$	0.36	$	0.42
Earnings per share - diluted	$	0.49	$	0.65	$	0.39	$	0.40	$	0.79	$	0.45	$	0.36	$	0.42
Cash dividends per common share		0.14		0.13		0.13		0.13		0.13		0.13		0.13		0.13
Book value per share		19.82		20.44		20.09		19.46		18.48		18.22		17.62		17.83
Common shares outstanding, excluding treasury		750,479,299		755,582,255		766,345,770		770,470,768		785,080,314		795,439,309		810,054,148		815,190,210
Market price per share:
High	$	27.79	$	20.92	$	19.30	$	19.61	$	21.06	$	21.71	$	21.69	$	20.21
Low		19.58		16.70		16.13		13.94		18.28		18.23		18.91		17.22
End of period		26.97		20.46		17.59		16.69		20.10		18.91		20.82		18.85
Supplemental Data
Common dividends declared ($ in millions)	$	106	$	99	$	100	$	100	$	102	$	103	$	105	$	106
Full-time equivalent employees		17,844		18,072		18,051		18,200		18,261		18,311		18,527		18,471
Banking centers		1,191		1,191		1,191		1,241		1,254		1,295		1,299		1,303
ATMs		2,495		2,497		2,514		2,556		2,593		2,650		2,630		2,637

(a) Presented on a fully taxable equivalent basis (FTE).

(b) Excludes nonperforming assets held for sale.

(c) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(d) This is a non-GAAP measure.

(e) The Condensed Consolidated Financial Statements include a $1 million, $5 million and $0 million net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Quarterly Data

	Three Months Ended
	December		September		June		March		December		September		June		March
	2016		2016(e)		2016(e)		2016(e)		2015		2015		2015		2015
Income Statement ($ in millions)
Interest income (taxable equivalent)(d)	$	1,058	$	1,063	$	1,052	$	1,044	$	1,035	$	1,031	$	1,008	$	975
Interest expense		149		150		144		135		131		125		116		123
Net interest income (taxable equivalent)(d)		909		913		908		909		904		906		892		852
Provision for loan and lease losses		54		80		91		119		91		156		79		69
Noninterest income:
Service charges on deposits		141		143		138		137		144		145		139		135
Wealth and asset management revenue		100		101		101		102		102		103		105		108
Corporate banking revenue		101		111		117		102		104		104		113		63
Mortgage banking net revenue		65		66		75		78		74		71		117		86
Card and processing revenue		79		79		82		79		77		77		77		71
Other noninterest income		137		336		80		136		602		213		1		163
Securities gains, net		(3)		4		6		3		1		—		4		4
Total noninterest income		620		840		599		637		1,104		713		556		630
Noninterest expense:
Salaries, wages and incentives		403		400		407		403		386		387		383		369
Employee benefits		76		78		85		100		74		72		78		99
Net occupancy expense		73		73		75		77		83		77		83		79
Technology and communications		56		62		60		56		59		56		54		55
Equipment expense		29		29		30		30		32		31		31		31
Card and processing expense		31		30		37		35		40		40		38		36
Other noninterest expense		292		301		289		285		289		280		280		254
Total noninterest expense		960		973		983		986		963		943		947		923
Income before income taxes (taxable equivalent)(d)		515		700		433		441		954		520		422		490
Taxable equivalent adjustment		6		6		6		6		5		5		5		5
Income before income taxes		509		694		427		435		949		515		417		485
Applicable income tax expense		114		178		103		109		292		134		108		124
Net income	$	395	$	516	$	324	$	326	$	657	$	381	$	309	$	361
Less: Net income attributable to noncontrolling interests		—		—		(4)		—		—		—		(6)		—
Net income attributable to Bancorp	$	395	$	516	$	328	$	326	$	657	$	381	$	315	$	361
Dividends on preferred stock		23		15		23		15		23		15		23		15
Net income available to common shareholders	$	372	$	501	$	305	$	311	$	634	$	366	$	292	$	346
Regulatory Capital Data ($ in millions)(a)	Basel III Transitional
CET1 capital	$	12,426	$	12,299	$	12,112	$	11,914	$	11,917	$	11,574	$	11,582	$	11,543
Additional tier I capital		1,330		1,331		1,331		1,330		1,343		1,340		1,340		1,339
Tier I capital	$	13,756	$	13,630	$	13,443	$	13,244	$	13,260	$	12,914	$	12,922	$	12,882
Tier II capital		4,164		4,374		4,414		4,553		3,874		3,935		3,909		4,112
Total regulatory capital	$	17,920	$	18,004	$	17,857	$	17,797	$	17,134	$	16,849	$	16,831	$	16,994
Risk-weighted assets(b)	$	119,482	$	120,954	$	121,824	$	121,432	$	121,290	$	123,148	$	122,986	$	121,310
CET1 capital ratio(b)		10.40%		10.17%		9.94%		9.81%		9.82%		9.40%		9.42%		9.52%
Tier I risk-based capital ratio(b)		11.51%		11.27%		11.03%		10.91%		10.93%		10.49%		10.51%		10.62%
Total risk-based capital ratio(b)		15.00%		14.88%		14.66%		14.66%		14.13%		13.68%		13.69%		14.01%
Tier I leverage ratio		9.90%		9.80%		9.64%		9.57%		9.54%		9.38%		9.44%		9.59%
CET1 capital ratio (fully phased-in)(b)(c)(d)		10.30%		10.09%		9.86%		9.72%		9.72%		9.30%		9.31%		9.41%

(a) Current period regulatory capital data and ratios are estimated.

(b) Under the banking agencies’ risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk-weight of the category. The resulting weighted values are added together, along with the measure for market risk, resulting in the Bancorp’s total risk-weighted assets.

(c) This ratio has been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. This is a non-GAAP measure.

(d) These are non-GAAP measures.

(e) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Quarterly Data

	As of
	December		September		June		March		December		September		June		March
	2016		2016(a)		2016(a)		2016(a)		2015		2015		2015		2015
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	2,392	$	2,164	$	2,359	$	2,298	$	2,540	$	2,455	$	2,785	$	2,920
Available-for-sale and other securities		31,183		30,689		31,455		29,891		29,044		28,799		27,987		26,409
Held-to-maturity securities		26		56		62		64		70		157		157		177
Trading securities		410		431		401		405		386		374		370		392
Other short-term investments		2,754		2,995		1,818		1,778		2,671		1,994		3,451		4,919
Total cash and securities		36,765		36,335		36,095		34,436		34,711		33,779		34,750		34,817
Loans held for sale		751		1,060		877		803		903		994		995		724
Portfolio loans and leases		92,098		93,151		93,909		93,605		92,582		93,574		92,703		91,244
Total loans and leases		92,849		94,211		94,786		94,408		93,485		94,568		93,698		91,968
Allowance for loan and lease losses		(1,253)		(1,272)		(1,299)		(1,295)		(1,272)		(1,261)		(1,293)		(1,300)
Bank premises and equipment		2,065		2,084		2,144		2,185		2,239		2,264		2,298		2,433
Operating lease equipment		738		771		756		738		707		680		670		695
Goodwill		2,416		2,416		2,416		2,416		2,416		2,416		2,416		2,416
Intangible assets		9		10		10		11		12		13		13		14
Servicing rights		744		619		621		685		785		757		854		789
Other real estate owned		69		91		107		119		137		149		163		187
Other assets		7,775		8,014		7,989		8,727		7,828		8,518		8,059		8,418
Total assets	$	142,177	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883	$	141,628	$	140,437
Liabilities
Deposits:
Demand	$	35,782	$	35,625	$	36,137	$	35,858	$	36,267	$	34,832	$	35,449	$	35,343
Interest checking		26,679		24,483		24,571		25,182		26,768		24,832		27,074		27,191
Savings		13,941		14,019		14,356		14,738		14,601		14,632		14,976		15,355
Money market		20,749		19,910		19,125		19,377		18,494		18,887		17,900		18,105
Foreign office		426		518		453		441		464		754		728		811
Other time		3,866		3,971		4,021		4,049		4,019		4,041		4,050		4,044
Certificates - $100,000 and over		2,378		2,745		2,778		2,830		2,592		2,915		2,846		2,566
Other foreign office		—		—		430		—		—		—		—		—
Total deposits		103,821		101,271		101,871		102,475		103,205		100,893		103,023		103,415
Federal funds purchased		132		126		108		134		151		132		126		200
Other short-term borrowings		3,535		3,494		3,979		3,523		1,507		4,904		4,136		1,413
Other liabilities		4,069		4,694		4,682		4,638		4,505		4,604		5,214		5,483
Long-term debt		14,388		16,890		16,231		15,305		15,810		15,492		13,491		14,022
Total liabilities	$	125,945	$	126,475	$	126,871	$	126,075	$	125,178	$	126,025	$	125,990	$	124,533
Equity
Common and preferred equity	$	19,579	$	19,307	$	18,914	$	18,638	$	18,406	$	17,867	$	17,578	$	17,421
Net unrealized gains:
Available-for-sale securities		101		765		879		685		238		528		327		608
Qualifying cash flow hedges		10		48		70		61		22		58		29		47
Accumulated other comprehensive income related to employee benefit plans		(52)		(58)		(60)		(62)		(63)		(64)		(65)		(67)
Treasury stock, at cost		(3,433)		(3,286)		(3,077)		(2,999)		(2,764)		(2,563)		(2,264)		(2,145)
Total Bancorp shareholders’ equity		16,205		16,776		16,726		16,323		15,839		15,826		15,605		15,864
Noncontrolling interests		27		28		28		32		31		32		33		40
Total equity	$	16,232	$	16,804	$	16,754	$	16,355	$	15,870	$	15,858	$	15,638	$	15,904
Total liabilities and equity	$	142,177	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883	$	141,628	$	140,437
Share Data
Preferred shares outstanding - Series H		24,000		24,000		24,000		24,000		24,000		24,000		24,000		24,000
Preferred shares outstanding - Series I		18,000		18,000		18,000		18,000		18,000		18,000		18,000		18,000
Preferred shares outstanding - Series J		12,000		12,000		12,000		12,000		12,000		12,000		12,000		12,000
Common shares outstanding, excluding treasury		750,479,299		755,582,255		766,345,770		770,470,768		785,080,314		795,439,309		810,054,148		815,190,210
Treasury shares held		173,413,282		168,310,326		157,546,811		153,421,813		138,812,267		128,453,272		113,838,433		108,702,371

(a) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Quarterly Data

	Three Months Ended
	December		September		June		March		December		September		June		March
	2016		2016(a)		2016(a)		2016(a)		2015		2015		2015		2015
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	93,981	$	94,417	$	94,807	$	94,078	$	94,587	$	94,329	$	92,739	$	91,659
Taxable securities		30,677		29,772		30,002		29,619		28,951		28,251		27,344		23,102
Tax exempt securities		81		76		85		78		52		52		59		59
Other short-term investments		1,809		1,827		1,953		1,876		2,253		1,799		3,160		5,877
Total interest-earning assets		126,548		126,092		126,847		125,651		125,843		124,431		123,302		120,697
Cash and due from banks		2,358		2,289		2,228		2,335		2,466		2,503		2,636		2,830
Other assets		14,203		15,644		15,140		14,869		14,925		15,064		15,322		15,412
Allowance for loan and lease losses		(1,272)		(1,299)		(1,295)		(1,273)		(1,261)		(1,292)		(1,300)		(1,322)
Total assets	$	141,837	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960	$	137,617
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,644	$	24,475	$	24,714	$	25,740	$	25,296	$	25,590	$	26,894	$	26,885
Savings deposits		13,979		14,232		14,576		14,601		14,615		14,868		15,156		15,174
Money market deposits		20,476		19,706		19,243		18,655		18,775		18,253		18,071		17,492
Foreign office deposits		497		524		484		483		736		718		955		861
Other time deposits		3,941		4,020		4,044		4,035		4,052		4,057		4,074		4,022
Certificates - $100,000 and over		2,539		2,768		2,819		2,815		3,305		2,924		2,558		2,683
Other deposits		115		749		467		—		7		222		—		—
Federal funds purchased		280		446		693		608		1,182		1,978		326		172
Other short-term borrowings		1,908		2,171		3,754		3,564		1,675		1,897		1,705		1,602
Long-term debt		15,173		16,102		15,351		14,949		15,738		14,664		13,741		14,414
Total interest-bearing liabilities		84,552		85,193		86,145		85,450		85,381		85,171		83,480		83,305
Demand deposits		36,412		35,918		35,912		35,201		36,254		35,231		35,384		33,760
Other liabilities		4,300		4,704		4,247		4,524		4,325		4,458		5,215		4,693
Total liabilities		125,264		125,815		126,304		125,175		125,960		124,860		124,079		121,758
Equity		16,573		16,911		16,616		16,407		16,013		15,846		15,881		15,859
Total liabilities and equity	$	141,837	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960	$	137,617
Average loans and leases (excluding held for sale)	$	92,964	$	93,511	$	93,931	$	93,275	$	93,594	$	93,373	$	92,173	$	90,508
Share Data
Average common shares outstanding - basic		746,106,624		750,885,834		759,105,385		773,564,178		784,855,006		795,792,825		803,965,057		810,209,585
Average common shares outstanding - diluted		757,443,512		757,855,877		764,811,003		777,757,934		794,481,388		805,022,588		812,842,540		818,672,259

(a) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Quarterly Data

	Three Months Ended
	December		September		June		March		December		September		June		March
	2016		2016		2016		2016		2015		2015		2015		2015
End of Period Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	41,736	$	42,829	$	43,575	$	43,441	$	42,151	$	42,970	$	42,812	$	42,062
Commercial mortgage loans		6,904		6,860		6,883		6,874		6,991		7,084		7,165		7,210
Commercial construction loans		3,903		3,905		3,706		3,428		3,214		3,101		2,709		2,303
Commercial leases		3,974		3,995		3,978		3,956		3,854		3,901		3,882		3,787
Total commercial loans and leases		56,517		57,589		58,142		57,699		56,210		57,056		56,568		55,362
Consumer:
Residential mortgage loans		15,737		15,597		15,159		14,563		14,424		14,197		13,792		13,258
Home equity		7,695		7,864		7,988		8,131		8,336		8,460		8,591		8,714
Automobile loans		9,983		10,349		10,671		11,129		11,497		11,829		11,914		11,873
Credit card		2,237		2,169		2,172		2,235		2,360		2,330		2,278		2,291
Other consumer loans and leases		680		643		654		651		658		696		555		470
Total consumer loans and leases		36,332		36,622		36,644		36,709		37,275		37,512		37,130		36,606
Total loans and leases	$	92,849	$	94,211	$	94,786	$	94,408	$	93,485	$	94,568	$	93,698	$	91,968
Average Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	42,612	$	43,125	$	43,878	$	43,127	$	43,175	$	43,162	$	42,554	$	41,462
Commercial mortgage loans		6,961		6,891		6,835		6,908		7,053		7,038		7,149		7,248
Commercial construction loans		3,890		3,848		3,551		3,297		3,141		2,966		2,549		2,198
Commercial leases		3,921		3,963		3,904		3,875		3,841		3,847		3,776		3,716
Total commercial loans and leases		57,384		57,827		58,168		57,207		57,210		57,013		56,028		54,624
Consumer:
Residential mortgage loans		15,802		15,346		14,842		14,405		14,315		13,976		13,375		13,515
Home equity		7,779		7,918		8,059		8,241		8,394		8,521		8,655		8,802
Automobile loans		10,162		10,508		10,887		11,285		11,674		11,881		11,902		11,933
Credit card		2,180		2,165		2,198		2,277		2,320		2,277		2,296		2,321
Other consumer loans and leases		674		653		653		663		674		661		483		464
Total consumer loans and leases		36,597		36,590		36,639		36,871		37,377		37,316		36,711		37,035
Total average loans and leases	$	93,981	$	94,417	$	94,807	$	94,078	$	94,587	$	94,329	$	92,739	$	91,659
Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	403	$	344	$	385	$	419	$	228	$	205	$	217	$	231
Nonaccrual loans held for sale		4		91		20		3		1		1		1		2
Nonaccrual restructured loans held for sale		9		9		—		2		11		1		—		—
Nonaccrual portfolio restructured loans and leases		257		257		308		282		278		253		258		296
OREO and other repossessed property		78		97		112		124		141		148		151		164
Total nonperforming assets	$	751	$	798	$	825	$	830	$	659	$	608	$	627	$	693
Ninety days past due loans and leases	$	84	$	76	$	65	$	73	$	75	$	70	$	70	$	78
Nonperforming Loans ($ in millions) (nonaccrual plus renegotiated)
Commercial and industrial loans and leases	$	491	$	508	$	483	$	465	$	259	$	171	$	182	$	200
Commercial mortgage loans		46		52		76		83		93		110		106		126
Commercial construction loans		—		—		—		—		—		6		—		1
Residential mortgage loans		34		32		43		44		51		54		62		70
Home equity		73		78		79		80		79		82		88		90
Other consumer loans and leases		29		31		32		34		36		37		38		41
Total nonperforming loans and leases (including held for sale)	$	673	$	701	$	713	$	706	$	518	$	460	$	476	$	528
Credit Charge-Offs ($ in millions)
Total losses charged-off	($	97)	($	137)	($	105)	($	116)	($	105)	($	209)	($	112)	($	115)
Total recoveries of losses previously charged-off		24		30		18		20		25		21		26		24
Total net losses charged-off	($	73)	($	107)	($	87)	($	96)	($	80)	($	188)	($	86)	($	91)

Quarterly Data

Regulation G Non-GAAP Reconciliation ($ in millions)	Three Months Ended
	December		September		June		March		December		September		June		March
	2016		2016(3)		2016(3)		2016(3)		2015		2015		2015		2015
Net interest income (U.S. GAAP)	$	903	$	907	$	902	$	903	$	899	$	901	$	887	$	847
Add:   FTE Adjustment		6		6		6		6		5		5		5		5
Net interest income on an FTE basis (a)		909		913		908		909		904		906		892		852
Net interest income (U.S. GAAP) (annualized) (b)		3,592		3,608		3,628		3,632		3,567		3,575		3,558		3,435
Net interest income on an FTE basis (annualized) (c)		3,616		3,632		3,652		3,656		3,587		3,594		3,578		3,455
Noninterest income (d)		620		840		599		637		1,104		713		556		630
Noninterest expense (e)		960		973		983		986		963		943		947		923
Average interest-earning assets (f)		126,548		126,092		126,847		125,651		125,843		124,431		123,302		120,697
Net interest margin (U.S. GAAP) (b)/(f)		2.84%		2.86%		2.86%		2.89%		2.83%		2.87%		2.89%		2.85%
Net interest margin on an FTE basis (c)/(f)		2.86%		2.88%		2.88%		2.91%		2.85%		2.89%		2.90%		2.86%
Efficiency ratio (e)/(a)+(d)		62.8%		55.5%		65.3%		63.8%		48.0%		58.2%		65.4%		62.3%
Income before income taxes (U.S. GAAP)		509		694		427		435		949		515		417		485
Add:   FTE Adjustment		6		6		6		6		5		5		5		5
Income before income taxes on an FTE basis		515		700		433		441		954		520		422		490
Basel III Final  Rule - Transition to fully phased-in
CET1 capital (transitional)	$	12,426	$	12,299	$	12,112	$	11,914	$	11,917	$	11,574	$	11,582	$	11,543
Less: Adjustments to CET1 capital from transitional to fully phased-in (1)		(4)		(4)		(4)		(5)		(8)		(11)		(12)		(13)
CET1 capital (fully phased-in) (g)		12,422		12,295		12,108		11,909		11,909		11,563		11,570		11,530
Risk-weighted assets (transitional)		119,482		120,954		121,824		121,432		121,290		123,148		122,986		121,310
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (2)		1,116		929		932		1,027		1,178		1,136		1,280		1,182
Risk-weighted assets (fully phased-in) (h)	$	120,598	$	121,883	$	122,756	$	122,459	$	122,468	$	124,284	$	124,266	$	122,492
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (g)/(h)		10.30%		10.09%		9.86%		9.72%		9.72%		9.30%		9.31%		9.41%

(1) Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities).

(2) Primarily relates to higher risk-weighting for MSRs.

(3) The Condensed Consolidated Financial Statements include a $1, $5 and $0 net reclassification of excess tax benefits from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

EX-99.4

Exhibit 99.4

January 2017

ANNUAL FINANCIAL SUPPLEMENT

Investment Community Member:

To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.

Numbers are unaudited for year-end information.

If you need further information, please fax or e-mail your request to Fifth Third’s Investor Relations Department at (513) 534-0629 or IR@53.com

Sameer Gokhale

Senior Director

Investor Relations

(513) 534-2219

Yearly Data

	Years Ended December 31,
	2016		2015		2014		2013		2012
Ratios (percent)
Return on average assets		1.10		1.22		1.12		1.48		1.34
Return on average common equity		9.8		11.3		10.0		13.1		11.6
Average total Bancorp shareholders’ equity as a percent of average assets		11.67		11.33		11.59		11.56		11.65
Net interest margin(a)(d)		2.88		2.88		3.10		3.32		3.55
Efficiency(a)(d)		61.6		57.6		61.1		58.2		61.7
Net losses charged-off as a percent of average portfolio loans and leases		0.39		0.48		0.64		0.58		0.85
ALLL as a percent of portfolio loans and leases		1.36		1.37		1.47		1.79		2.16
Allowance for credit losses as a percent of portfolio loans and leases(c)		1.54		1.52		1.62		1.97		2.37
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(b)		0.80		0.70		0.82		1.10		1.49
Allowance for loan and lease losses as a percent of nonperforming assets(b)		170		197		178		161		144
Allowance for credit losses as a percent of nonperforming assets(b)		192		218		196		178		158
Common Share Data
Earnings per share - basic	$	1.95	$	2.03	$	1.68	$	2.05	$	1.69
Earnings per share - diluted	$	1.93	$	2.01	$	1.66	$	2.02	$	1.66
Cash dividends per common share		0.53		0.52		0.51		0.47		0.36
Book value per share		19.82		18.48		17.35		15.85		15.10
Common shares outstanding, excluding treasury		750,479,299		785,080,314		824,046,952		855,305,745		882,152,057
Market price per share:
High	$	27.97	$	21.71	$	23.39	$	21.04	$	16.16
Low		19.58		17.22		17.74		15.35		12.04
End of period		26.97		20.10		20.38		21.03		15.20
Supplemental Data
Common dividends declared ($ in millions)	$	406	$	417	$	427	$	407	$	325
Full-time equivalent employees		17,844		18,261		18,351		19,446		20,798
Banking centers		1,191		1,254		1,302		1,320		1,325
ATMs		2,495		2,593		2,638		2,586		2,415

(a) Presented on a fully taxable equivalent basis (FTE).

(b) Excludes nonperforming assets held for sale.

(c) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(d) This is a non-GAAP measure.

Yearly Data

	Years Ended December 31,
	2016		2015		2014		2013		2012
Income Statement ($ in millions)
Interest income (taxable equivalent)(d)	$	4,218	$	4,049	$	4,051	$	3,993	$	4,125
Interest expense		578		495		451		412		512
Net interest income (taxable equivalent)(d)		3,640		3,554		3,600		3,581		3,613
Provision for loan and lease losses		343		396		315		229		303
Noninterest income:
Service charges on deposits		558		563		560		549		522
Wealth and asset management revenue		404		418		407		393		374
Corporate banking revenue		432		384		430		400		413
Mortgage banking net revenue		285		348		310		700		845
Card and processing revenue		319		302		295		272		253
Other noninterest income		688		979		450		879		574
Securities gains, net		10		9		21		21		15
Securities gains, net - non-qualifying hedges on mortgage servicing rights		—		—		—		13		3
Total noninterest income		2,696		3,003		2,473		3,227		2,999
Noninterest expense:
Salaries, wages and incentives		1,612		1,525		1,449		1,581		1,607
Employee benefits		339		323		334		357		371
Net occupancy expense		299		321		313		307		302
Technology and communications		234		224		212		204		196
Equipment expense		118		124		121		114		110
Card and processing expense		132		153		141		134		121
Other noninterest expense		1,169		1,105		1,139		1,264		1,374
Total noninterest expense		3,903		3,775		3,709		3,961		4,081
Income before income taxes (taxable equivalent)(d)		2,090		2,386		2,049		2,618		2,228
Taxable equivalent adjustment		25		21		21		20		18
Income before income taxes		2,065		2,365		2,028		2,598		2,210
Applicable income tax expense		505		659		545		772		636
Net income	$	1,560	$	1,706	$	1,483	$	1,826	$	1,574
Less: Net income attributable to noncontrolling interests		(4)		(6)		2		(10)		(2)
Net income attributable to Bancorp	$	1,564	$	1,712	$	1,481	$	1,836	$	1,576
Dividends on preferred stock		75		75		67		37		35
Net income available to common shareholders	$	1,489	$	1,637	$	1,414	$	1,799	$	1,541
Regulatory Capital Data ($ in millions)(a)	Basel III Transitional				Basel I
CET1 capital		12,426	$	11,917		N/A		N/A		N/A
Additional tier I capital		1,330		1,343		N/A		N/A		N/A
Tier I capital	$	13,756	$	13,260	$	12,764	$	12,094	$	11,685
Tier II capital		4,164		3,874		4,131		4,337		4,126
Total regulatory capital	$	17,920	$	17,134	$	16,895	$	16,431	$	15,811
Risk-weighted assets	$	119,482(b)	$	121,290(b)	$	117,878	$	115,969	$	109,301
CET1 capital ratio		10.40%(b)		9.82%(b)		N/A		N/A		N/A
Tier I risk-based capital ratio		11.51%(b)		10.93%(b)		10.83%		10.43%		10.69%
Total risk-based capital ratio		15.00%(b)		14.13%(b)		14.33%		14.17%		14.47%
Tier I leverage ratio		9.90%		9.54%		9.66%		9.73%		10.15%
Tier I common equity ratio		N/A		N/A		9.65%(c)		9.45%(c)		9.54%(c)
CET1 capital ratio (fully phased-in)		10.30%(b)(c)(d)		9.72%(b)(c)(d)		N/A		N/A		N/A

(a) Current period regulatory capital data and ratios are estimated.

(b) Under the banking agencies’ risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk-weight of the category. The resulting weighted values are added together, along with the measure for market risk, resulting in the Bancorp’s total risk-weighted assets.

(c) This ratio has been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. This is a Non-GAAP measure.

(d) These are non-GAAP measures.

Yearly Data

	Years Ended December 31,
	2016		2015		2014		2013		2012
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	2,392	$	2,540	$	3,091	$	3,178	$	2,441
Available-for-sale and other securities		31,183		29,044		22,408		18,597		15,207
Held-to-maturity securities		26		70		187		208		284
Trading securities		410		386		360		343		207
Other short-term investments		2,754		2,671		7,914		5,116		2,421
Total cash and securities		36,765		34,711		33,960		27,442		20,560
Loans held for sale		751		903		1,261		944		2,939
Portfolio loans and leases		92,098		92,582		90,084		88,614		85,782
Total loans and leases		92,849		93,485		91,345		89,558		88,721
Allowance for loan and lease losses		(1,253)		(1,272)		(1,322)		(1,582)		(1,854)
Bank premises and equipment		2,065		2,239		2,465		2,531		2,542
Operating lease equipment		738		707		728		730		581
Goodwill		2,416		2,416		2,416		2,416		2,416
Intangible assets		9		12		15		19		27
Servicing rights		744		785		858		971		697
Other real estate owned		69		137		217(a)		299(a)		320(a)
Other assets		7,775		7,828		7,988		8,031		7,859
Total assets	$	142,177	$	141,048	$	138,670	$	130,415	$	121,869
Liabilities
Deposits:
Demand	$	35,782	$	36,267	$	34,809	$	32,634	$	30,023
Interest checking		26,679		26,768		26,800		25,875		24,477
Savings		13,941		14,601		15,051		17,045		19,879
Money market		20,749		18,494		17,083		11,644		6,875
Foreign office		426		464		1,114		1,976		885
Other time		3,866		4,019		3,960		3,530		4,015
Certificates - $100,000 and over		2,378		2,592		2,895		6,571		3,284
Other foreign office		—		—		—		—		79
Total deposits		103,821		103,205		101,712		99,275		89,517
Federal funds purchased		132		151		144		284		901
Other short-term borrowings		3,535		1,507		1,556		1,380		6,280
Other liabilities		4,069		4,505		4,662		5,245		4,347
Long-term debt		14,388		15,810		14,932		9,605		7,060
Total liabilities		125,945		125,178		123,005		115,789		108,105
Equity
Common and preferred equity		19,579		18,406		17,169		15,802		13,975
Net unrealized gains:
Available-for-sale securities		101		238		475		121		412
Qualifying cash flow hedges		10		22		23		13		50
Accumulated other comprehensive income related to employee benefit plans		(52)		(63)		(69)		(52)		(87)
Treasury stock, at cost		(3,433)		(2,764)		(1,972)		(1,295)		(634)
Total Bancorp shareholders’ equity		16,205		15,839		15,626		14,589		13,716
Noncontrolling interests		27		31		39		37		48
Total equity		16,232		15,870		15,665		14,626		13,764
Total liabilities and equity	$	142,177	$	141,048	$	138,670	$	130,415	$	121,869
Share Data
Preferred shares outstanding - Series G		—		—		—		—		16,450
Preferred shares outstanding - Series H		24,000		24,000		24,000		24,000		—
Preferred shares outstanding - Series I		18,000		18,000		18,000		18,000		—
Preferred shares outstanding - Series J		12,000		12,000		12,000		—		—
Common shares outstanding, excluding treasury		750,479,299		785,080,314		824,046,952		855,305,745		882,152,057
Treasury shares held		173,413,282		138,812,267		99,845,629		68,586,836		41,740,524

(a) Includes OREO related to government insured loans. Upon the prospective adoption on January 1, 2015 of ASU 2014-14 “Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure,” government guaranteed loans meeting certain criteria were reclassified to other receivables rather than OREO upon foreclosure.

Yearly Data

	Years Ended December 31,
	2016		2015		2014		2013		2012
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	94,320	$	93,339	$	91,127	$	89,093	$	84,822
Taxable securities		30,019		26,932		21,770		16,395		15,262
Tax exempt securities		80		55		53		49		57
Other short-term investments		1,866		3,258		3,043		2,417		1,495
Total interest-earning assets		126,285		123,584		115,993		107,954		101,636
Cash and due from banks		2,303		2,608		2,892		2,482		2,355
Other assets		14,963		15,179		14,505		15,025		15,643
Allowance for loan and lease losses		(1,285)		(1,293)		(1,481)		(1,757)		(2,072)
Total assets	$	142,266	$	140,078	$	131,909	$	123,704	$	117,562
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,143	$	26,160	$	25,382	$	23,582	$	23,096
Savings deposits		14,346		14,951		16,080		18,440		21,393
Money market deposits		19,523		18,152		14,670		9,467		4,903
Foreign office deposits		497		817		1,828		1,501		1,528
Other time deposits		4,010		4,051		3,762		3,760		4,306
Certificates - $100,000 and over		2,735		2,869		3,929		6,339		3,102
Other deposits		333		57		—		17		27
Federal funds purchased		506		920		458		503		560
Other short-term borrowings		2,845		1,721		1,873		3,024		4,246
Long-term debt		15,394		14,644		12,894		7,886		8,991
Total interest-bearing liabilities		85,332		84,342		80,876		74,519		72,152
Demand deposits		35,862		35,164		31,755		29,925		27,196
Other liabilities		4,445		4,672		3,950		4,917		4,462
Total liabilities		125,639		124,178		116,581		109,361		103,810
Equity		16,627		15,900		15,328		14,343		13,752
Total liabilities and equity	$	142,266	$	140,078	$	131,909	$	123,704		117,562
Average loans and leases (excluding held for sale)	$	93,426	$	92,423	$	90,485		86,950		82,733
Share Data:
Average common shares outstanding - basic		757,366,766		798,628,173		833,116,349		869,462,977		904,425,226
Average common shares outstanding - diluted		764,429,828		807,658,669		842,967,356		894,736,445		945,554,102

Yearly Data

	Years Ended December 31,
	2016		2015		2014		2013		2012
End of Period Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	41,736	$	42,151	$	40,801	$	39,347	$	36,077
Commercial mortgage loans		6,904		6,991		7,410		8,069		9,116
Commercial construction loans		3,903		3,214		2,071		1,041		707
Commercial leases		3,974		3,854		3,721		3,626		3,549
Total commercial loans and leases		56,517		56,210		54,003		52,083		49,449
Consumer:
Residential mortgage loans		15,737		14,424		13,582		13,570		14,873
Home equity		7,695		8,336		8,886		9,246		10,018
Automobile loans		9,983		11,497		12,037		11,984		11,972
Credit card		2,237		2,360		2,401		2,294		2,097
Other consumer loans and leases		680		658		436		381		312
Total consumer loans and leases		36,332		37,275		37,342		37,475		39,272
Total loans and leases	$	92,849	$	93,485	$	91,345	$	89,558	$	88,721
Average Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	43,184	$	42,594	$	41,178	$	37,770	$	32,911
Commercial mortgage loans		6,899		7,121		7,745		8,481		9,686
Commercial construction loans		3,648		2,717		1,492		793		835
Commercial leases		3,916		3,796		3,585		3,565		3,502
Total commercial loans and leases		57,647		56,228		54,000		50,609		46,934
Consumer:
Residential mortgage loans		15,101		13,798		13,344		14,428		13,370
Home equity		7,998		8,592		9,059		9,554		10,369
Automobile loans		10,708		11,847		12,068		12,021		11,849
Credit card		2,205		2,303		2,271		2,121		1,960
Other consumer loans and leases		661		571		385		360		340
Total consumer loans and leases		36,673		37,111		37,127		38,484		37,888
Total average loans and leases	$	94,320	$	93,339	$	91,127	$	89,093	$	84,822
Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	403	$	228	$	269	$	387	$	665
Nonaccrual loans held for sale		4		1		24		6		25
Nonaccrual restructured loans held for sale		9		11		15		—		4
Nonaccrual portfolio restructured loans and leases		257		278		310		364		364
OREO and other repossessed property(a)		78		141		165		229		257
Total nonperforming assets	$	751	$	659	$	783	$	986	$	1,315
Ninety days past due loans and leases	$	84	$	75	$	87	$	103	$	195
Nonperforming Loans ($ in millions) (nonaccrual plus renegotiated)
Commercial and industrial loans and leases	$	491	$	259	$	241	$	287	$	345
Commercial mortgage loans		46		93		146		146		296
Commercial construction loans		—		—		2		31		85
Residential mortgage loans		34		51		94		165		237
Home Equity		73		79		93		93		53
Other consumer loans and leases		29		36		42		35		42
Total nonperforming loans and leases (including held for sale)	$	673	$	518	$	618	$	757	$	1,058
Credit Charge-Offs ($ in millions)
Total losses charged-off	($	456)	($	542)	($	679)	($	637)	($	837)
Total recoveries of losses previously charged-off		94		96		104		136		133
Total net losses charged-off	($	362)	($	446)	($	575)	($	501)	($	704)

(a) Excludes OREO related to government insured loans. The Bancorp has historically excluded government guaranteed loans classified in OREO from its nonperforming asset disclosures. Upon the prospective adoption on January 1, 2015 of ASU 2014-14 “Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure,” government guaranteed loans meeting certain criteria were reclassified to other receivables rather than OREO upon foreclosure.

Yearly Data

Regulation G Non-GAAP Reconciliation ($ in millions)	Years Ended December 31,
	2016		2015		2014		2013		2012
Net interest income (U.S. GAAP) (a)	$	3,615	$	3,533	$	3,579	$	3,561	$	3,595
Add:   FTE Adjustment		25		21		21		20		18
Net interest income on an FTE basis (b)		3,640		3,554		3,600		3,581		3,613
Noninterest income (c)		2,696		3,003		2,473		3,227		2,999
Noninterest expense (d)		3,903		3,775		3,709		3,961		4,081
Average interest-earning assets (e)		126,285		123,584		115,993		107,954		101,636
Net interest margin (U.S. GAAP) (a)/(e)		2.86%		2.86%		3.09%		3.30%		3.54%
Net interest margin on an FTE basis (b)/(e)		2.88%		2.88%		3.10%		3.32%		3.55%
Efficiency ratio (d)/(b)+(c)		61.6%		57.6%		61.1%		58.2%		61.7%
Income before income taxes (U.S. GAAP)		2,065		2,365		2,028		2,598		2,210
Add:   FTE Adjustment		25		21		21		20		18
Income before income taxes on an FTE basis		2,090		2,386		2,049		2,618		2,228
Basel III Final Rule - Transition to fully phased-in
CET1 capital (transitional)	$	12,426	$	11,917		N/A		N/A		N/A
Less: Adjustments to CET1 capital from transitional to fully phased-in (1)		(4)		(8)		N/A		N/A		N/A
CET1 capital (fully phased-in) (f)		12,422		11,909		N/A		N/A		N/A
Risk-weighted assets (transitional)		119,482		121,290		N/A		N/A		N/A
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (2)		1,116		1,178		N/A		N/A		N/A
Risk-weighted assets (fully phased-in) (g)	$	120,598		122,468		N/A		N/A		N/A
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (f)/(g)		10.30%		9.72%		N/A		N/A		N/A

(1) Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities).

(2) Primarily relates to higher risk-weighting for MSRs.