Fifth Third Bancorp

Company facts

Industry

State Commercial Banks

Headquarters

Cincinnati, Ohio

Most recent report

10-Q, filed Nov 3, 2026

Incorporated

Ohio

Filings on record

1,000+ filings

On EDGAR

CIK 35527

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 10 of 16 sections worth reading, with 0 positive, 29 notable, and 4 negative flags.

• Part I

  Large M&A (Comerica) closed Feb 2026; $12.7B all-stock deal drives all results and ratios.
  Notable

  • Closed $12.7B all-stock Comerica acquisition on Feb 1, 2026; added $73B interest-earning assets.
  • Issued $2.0B senior notes in Jan 2026; exchanged ~$1.27B Comerica notes for new Bancorp notes.
  • Transitioned from Category IV to Category III regulatory standards in Q3 2026, adding stress test and liquidity rules.
  • Proposed Basel III rules could cut CET1 ratio to ~9.2% if implemented; comment period ended June 2026.

• STATEMENTS OF INCOME ANALYSIS

  Comerica acquisition drives large swings in net interest income and margin; purchase accounting details matter.
  Notable

  • Net interest income (FTE) up $751M in Q3 2026 and $2.0B in nine months, driven by Comerica acquisition.
  • Comerica added $73.0B interest-earning assets, $48.2B interest-bearing liabilities, $24.9B noninterest-bearing liabilities on Feb 1, 2026.
  • Purchase accounting amortization/accretion added $57M in Q3 2026 and $160M in nine months.
  • Net interest margin (FTE) rose to 3.34% for both periods, from 3.13% and 3.10% a year ago.

• Average Balance Sheet

  Section details the Comerica acquisition's balance-sheet impact and funding mix shift.
  Notable

  • Comerica acquisition added $46.5B commercial loans, $4.1B consumer loans, $11.3B short-term investments, $11.2B securities in Q3 2026.
  • Excluding Comerica, average commercial loans grew $4.3B organically in Q3 2026 vs Q3 2025, driven by originations and line utilization.
  • Wholesale funding fell to 12% of interest-bearing liabilities in Q3 2026 from 15% in Q3 2025, as FHLB advances and long-term debt matured.
  • Core deposits were 78% of average total assets in Q3 2026, up from 77% in Q3 2025, reflecting deposit growth.
  • Comerica acquisition assumed $40.6B interest-bearing core deposits and $5.5B long-term debt in Q3 2026.

• Condensed Consolidated Average Balance Sheets

  Comerica acquisition integration drives large swings in balance sheet, income, and expenses.
  Notable

  • Provision for credit losses fell to $479M for the nine months ended September 30, 2026, from $544M a year ago.
  • ALLL as a percent of portfolio loans fell to 1.61% at September 30, 2026, from 1.84% at December 31, 2025.
  • Assets under care rose to $880B at September 30, 2026, from $681B a year ago, including $180B from Comerica.
  • Full-time equivalent employees rose to 25,069 at September 30, 2026, from 18,476 a year ago.

• BALANCE SHEET ANALYSIS

  Comerica acquisition integration, credit quality shifts, and detailed portfolio risk disclosures.
  Notable

  • Total loans and leases increased $57.6B or 47% to $181B at Sept 30, 2026, primarily from the Comerica acquisition.
  • Uninsured domestic deposits were $101.5B at Sept 30, 2026, up from $69.8B at Dec 31, 2025, now 42% of domestic deposits.
  • The Bancorp paused origination of new solar energy installation loans in July 2026 due to market shift after tax incentive expiration.
  • Commercial Banking net charge-offs fell sharply to 22 bps (Q3 2026) from 146 bps (Q3 2025), helped by a $178M fraud loss in 2025.
  • Moody's, S&P, Fitch, and DBRS all have a 'Negative' outlook on Fifth Third Bancorp as of Nov 3, 2026.
  • The Bancorp issued 240M common shares and 16M depositary shares (preferred Series M) on Feb 1, 2026 for the Comerica acquisition.
  Negative

  • Net unrealized losses on AFS debt securities grew to $4.7B at Sept 30, 2026 from $2.9B at Dec 31, 2025.

• CONDENSED CONSOLIDATED BALANCE SHEETS

  Comerica acquisition closed Feb 2026, transforming balance sheet; large goodwill and intangibles added.
  Notable

  • Common shares outstanding rose to 907M from 661M, reflecting ~240M shares issued for Comerica.
  • Comerica acquisition closed Feb 1, 2026; total consideration $12.7 billion, all stock. Added $50.5B in loans, $5.0B goodwill.

• Condensed Consolidated Statements of Income

  Notes detail mortgage servicing, derivatives, and VIE funding with specific figures.
  Notable

  • VIE funding: Bancorp has outstanding loans to unconsolidated VIEs, included in commercial loans.
  • Collateral posted by Bancorp for derivatives jumped to $2.4B from $868M, a 176% increase.

• Condensed Consolidated Balance Sheets

  Large swing in hedging losses and deferred losses in AOCI signal material interest rate exposure.
  Negative

  • Deferred losses on cash flow hedges in AOCI tripled to $853M at Sep 30, 2026, from $275M at Dec 31, 2025.
  • $218M in unrealized losses expected to hit earnings over next 12 months, a real near-term earnings risk.

• Condensed Consolidated Statements of Income

  Derivatives notes show a $73M loss on MSR hedges and $3.5B in risk participation agreements.
  Notable

  • Risk participation agreements notional rose to $3.5B at Sep 2026 from $3.2B at Dec 2025, liability $8M.

• Condensed Consolidated Balance Sheets

  Notes detail Comerica acquisition debt, derivative swings, litigation exposure, and pension plans.
  Notable

  • Visa swap liability fell to $77M from $124M at Dec 2025; Bancorp made $18M cash payment in Oct 2026.
  Negative

  • Reasonably possible litigation losses up to $76M above accruals; $440M+ claimed damages case on appeal.

What changed: Sep 2026 vs. Jun 2026

About 2% of FITB's Sep 2026 10-Q is new information. 14 paragraphs were added, 348 changed, and 61 removed. Below are the most important lines SECSift identified.

• BALANCE SHEET ANALYSIS 102
• Condensed Consolidated Statements of Income 69
• Condensed Consolidated Balance Sheets 30
• Condensed Consolidated Average Balance Sheets 26
• CONDENSED CONSOLIDATED BALANCE SHEETS 25
• Part I 15
• STATEMENTS OF INCOME ANALYSIS 3
• Average Balance Sheet 2
• Part II 2