Fifth Third Bancorp

Results & profitability improved meaningfully post–Comerica conversion - Reported EPS: $0.90 or $1.13 excluding certain items. - Adjusted PPNR grew 8% QoQ to about $1.5B (with revenue +2% and expenses -2%). - Adjusted ROTCE: 20.6%, adjusted ROA: 1.41%, efficiency ratio: 54.6%. - Conversion completed with synergies still ramping: more expense synergy expected in Q4 as remaining conversion-related actions flow through.

Net interest income (NII) and margins: modest softness but positioned to benefit from rates - NII: $2.28B, up $56M QoQ (+3%); NIM: 3.34% (-2 bps QoQ). - Margin drag mainly from intentional balance-sheet cash build (Comerica sweep migration simplification): average short-term investments + $3.1B, estimated ~4 bps NIM impact (no material NII impact). Excluding cash build, NIM would have been ~+2 bps. - Rate actions to manage sensitivity: - Added $2.5B to HTM at ~4.9% yield - Added $7B of received fixed cash flow hedges - Management expects the balance sheet remains asset-sensitive and could benefit from further rate hikes.

Credit remains stable (key negative: higher NPA tied to integration-related real estate) - Net charge-offs: 31 bps, essentially stable (within guided 30–35 bps range). - Allowance for credit losses: $3.1B (1.74%), down 2 bps sequentially. - NPL ratio: 59 bps (+1 bp); NPA ratio: 64 bps (+4 bps) due to $58M increase in consolidated branch/other corporate real estate (integration-related). Excluding that, NPA up only ~1 bp. - Early delinquency improved: 30–89 day balances down $21M QoQ to 30 bps.