Fifth Third Bancorp

Strong integration progress + profitability momentum (core “good”): - Q3 results reflect the combined Fifth Third + Comerica bank showing improved profitability despite synergies not yet fully in run-rate. - Adjusted PPNR: grew 8% QoQ to ~$1.5B; more than half the sequential PPNR increase came from revenue, with expenses down primarily due to synergy realization. - Returns & efficiency: Adjusted ROTCE 20.6%, Adjusted ROA 1.41%, Adjusted efficiency ratio 54.6% (improved materially vs Q2). - Capital strength: Tangible book value per share +2% YoY, TCE ratio flat; CET1 = 10.0% within the 10.0%–10.5% operating range.

Growth outcomes highlight deposits + loans resilience (surprising/positive): - Core deposits +3% sequentially, loans +1% sequentially even though conversion occurred late in the quarter (10 weeks in). - Net charge-offs stable: 31 bps (within guided 30–35 bps range). - Retail deposit momentum / market share: FDIC dataset analysis shows No. 1 in retail footprint and No. 3 nationally for YoY retail deposit growth. - Texas standout: Dallas & Houston retail deposits grew >20% YoY, gaining >40 bps share; rankings improved to #7 (Dallas) and #8 (Houston) ahead of a multi-year de novo plan.

Deposits growth supported by both campaigns and “conversion effects” (key detail investors need): - Management emphasized deposit strategy as the determinant of future returns (not rate-pricing alone). - About 45% of Q3 deposit growth was attributed to moving Comerica sweep deposits onto the balance sheet (a conversion-related balance sheet/reclassification effect). - Forward-looking opportunity is tied to structural growth: - Southeast de novo expansion (on track; 55 committed for 2026, 35 opened YTD). - Texas de novo plan: first tranche opening in Q3 2027, total ~150 branches over 3 years. - “i-Banking” launched as a new vertical for startup/growth-stage companies; framed as ~$10B deposit opportunity by 2030.