Latest news with #FifthThird
Yahoo
12 hours ago
- Business
- Yahoo
Fifth Third Q2 Earnings Top Estimates on Higher NII & Fee Income
Fifth Third Bancorp FITB reported second-quarter 2025 adjusted earnings per share (EPS) of 9 cents, surpassing the Zacks Consensus Estimate of 87 cents. In the prior-year quarter, the company posted an EPS of 86 cents. Results benefited from a rise in net interest income (NII), fee income and loan balances. However, higher expenses and weak asset quality were headwinds. Results included a negative 2-cent impact of certain items. After considering this, the company has reported net income available to common shareholders (GAAP basis) of $591 million, down 5.3% year over year. FITB's Quarterly Revenues & Expenses Rise Total quarterly revenues in the reported quarter were $2.25 billion, which increased 7.7% year over year. Further, the top line surpassed the Zacks Consensus Estimate by 1.8%. Fifth Third's NII (on an FTE basis) was $1.5 billion, up 7.6% year over year. Our estimate for NII was pegged at $1.48 billion. The net interest margin (on an FTE basis) increased year over year to 3.12% from 2.88%. Our estimate for net interest margin was 3.05%. Non-interest income rose 7.9% year over year to $750 million. This rise was primarily due to an increase in revenues from wealth and asset management and consumer banking fees. Our estimate for non-interest income was pinned at $721.6 million. Non-interest expenses increased 3.5% year over year to $1.26 billion. The increase was primarily due to a rise in all cost components except occupancy and other non-interest income. Our estimate for the metric was $1.27 billion. FITB's Credit Quality Deteriorates The company has reported a provision for credit losses of $173 million, up 78% from the year-ago quarter. Our estimate for the metric was pinned at $149.1 million. Moreover, the total non-performing portfolio loans and leases were $886 million, up 37.8% year over year. Net charge-offs in the first quarter increased to $139 million or 0.45% of average loans and leases (on an annualized basis) from $144 million or 0.49% in the prior-year quarter. Our estimate for net charge-offs was $145.3 million. The total allowance for credit losses increased 5.5% to $2.56 billion year over year. Our estimate for allowance for credit losses was pinned at $2.53 billion. Fifth Third's Capital Position Mixed The Tier 1 risk-based capital ratio was 11.83% compared with 11.93% posted in the prior-year quarter. The CET1 capital ratio was 10.56%, down from 10.62% in the year-ago quarter. The leverage ratio was 9.42% compared with the year-earlier quarter's 9.07%. Our Viewpoint on Fifth Third A rise in NII, driven by loan growth, deposit rate management, and fixed-rate asset repricing, supported top-line growth. Strategic acquisitions have diversified Fifth Third's revenue sources, which will aid its top-line growth in the future. However, higher expenses and weak asset quality remain near-term concerns. Fifth Third Bancorp Price, Consensus and EPS Surprise Fifth Third Bancorp price-consensus-eps-surprise-chart | Fifth Third Bancorp Quote Currently, Fifth Third carries a Zacks Rank #3 (Hold). You can seethe complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Performance of Other Banks State Street's STT second-quarter 2025 adjusted earnings of $2.53 per share surpassed the Zacks Consensus Estimate of $2.36. The bottom line also increased 17.7% from the prior-year quarter. (Find the latest earnings estimates and surprises on Zacks Earnings Calendar.) Results were aided by growth in fee revenues. Also, STT witnessed improvements in total assets under custody and administration and assets under management balances. However, higher adjusted expenses, a jump in provisions and lower NII acted as spoilsports. Hancock Whitney Corp.'s HWC second-quarter 2025 adjusted earnings per share of $1.37 exceeded the Zacks Consensus Estimate of $1.34. Further, the bottom line rose 4.6% from the prior year quarter. HWC's results benefited from an increase in non-interest income and NII. Also, higher loans were another positive. However, higher adjusted expenses and provisions alongside lower deposit balances were headwinds. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fifth Third Bancorp (FITB) : Free Stock Analysis Report State Street Corporation (STT) : Free Stock Analysis Report Hancock Whitney Corporation (HWC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Business Journals
4 days ago
- Business
- Business Journals
Fifth Third Bank accelerates growth and community investment across Kentucky
1. Expanding Our Footprint Across the State We're growing to meet Kentuckians where they are. This year, we relocated our Louisville corporate office and downtown branch to the vibrant NuLu neighborhood—underscoring our long-term commitment to downtown Louisville. In Lexington, new financial centers are opening in 2025, with Bowling Green and Elizabethtown slated for expansion through 2026. These investments bring banking closer to home for more Kentuckians, making financial services more accessible and convenient. 2. Growing Our Team to Better Serve Clients As our footprint expands, so does our team. We're actively hiring across all lines of business, with a particular focus on strengthening our Commercial and Private Bank divisions. This growth is about more than numbers—it's about bringing in top-tier talent to deliver the personalized, consultative service our clients expect. Our team is equipped to guide individuals and businesses through every stage of their financial journey. expand 3. Investing in Communities That Matter Fifth Third is committed to driving meaningful, place-based community engagement across Kentucky. Through the Fifth Third Neighborhood Program, we've invested more than $40 million in Louisville's Russell neighborhood over the past three years—supporting economic mobility in partnership with local residents and stakeholders. Our commitment extends beyond Louisville. We're proud to invest alongside Community Ventures in the revitalization of Mustard Seed Hill in Millersburg, helping to transform the historic campus into a hub for economic development and community gathering. We're also partnering with the Kentucky Chamber Foundation and Goodwill Industries of Kentucky to bring our eBus—a mobile financial services center—to Elizabethtown. There, we're hosting expungement clinics to help individuals remove barriers to employment and re-enter the workforce with confidence. These efforts are part of our broader mission to create pathways to financial stability and long-term prosperity for Kentuckians across the state. expand 4. Enhancing the Client Experience Through Innovation Our new financial centers are designed with the client in mind—modern, welcoming spaces that make banking easier. We're also investing in digital tools like Genie, our AI-powered assistant in the Fifth Third mobile app, which helps clients manage their finances with greater ease and flexibility. Whether online, on the app, or in person, we're focused on delivering a seamless and personalized experience. 5. A Long-Term Commitment to Kentucky We're not just growing—we're here to stay. Our momentum is strong, and our dedication to Kentucky is unwavering. Whether you're visiting a financial center, meeting with a banker, or volunteering alongside us in the community, know this: Fifth Third is committed to Kentucky and to the people who call it home. Find your nearest branch or explore career opportunities at Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at
Associated Press
03-07-2025
- Business
- Associated Press
Fifth Third Becomes First Bank To Offer Free Wills to All Customers
CINCINNATI, July 3, 2025 /3BL/ - Fifth Third (NASDAQ: FITB) announced a first-of-its-kind initiative to offer free wills to every customer, through an exclusive partnership with Trust & Will, the leading digital estate planning platform in the U.S. Starting today, millions of Fifth Third customers can access a secure, guided online experience to create a state-specific, attorney approved will—at no cost and in less than one hour. This experience is designed to be simple and stress-free, ensuring peace of mind and a streamlined legal process for more American families during what can be a time of great emotional turmoil. This pioneering offer from Fifth Third and Trust & Will seeks to addresses a significant gap in estate planning in the U.S. According to Trust & Will's 2025 Estate Planning Report, which surveyed 10,000 Americans aged 18 and over, 83% of Americans think a will is important, and yet only 31% have one in place. This lack of preparedness isn't evenly distributed. Older generations, wealthier households, and men tend to be more prepared, while younger adults, lower-income individuals, and women lag behind. 'At Fifth Third, we are leading the industry with digital solutions that solve everyday banking needs,' said Ben Hoffman, chief strategy officer and head of consumer products at Fifth Third. 'First, we focused on getting customers paid as early as possible, which then streamlined how they paid others. In response to evolving threats of scams and fraud, we reinforced security protections to better protect customers identity and money. Now, we're thrilled to address another gap in financial planning with this novel partnership, securing our customers' legacies for generations to come.' For many families, not having an estate plan can result in significant financial strain and stress. Without a will, families may struggle to access critical funds needed for funeral expenses, rent, or everyday bills. By offering free wills to all families, Fifth Third Bank and Trust & Will proactively address these concerns, ensuring families of all income levels have access to modern tools to secure their legacies and protect what matters most."We believe every family deserves peace of mind,' said Cody Barbo, CEO of Trust & Will. 'Our mission is to make estate planning accessible to all, and this partnership brings us one step closer to that goal.' Fifth Third customers can learn more about Trust & Will and get started at About Fifth ThirdFifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol 'FITB.' Investor information and press releases can be viewed at Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC. About Trust & WillFounded in 2017, Trust & Will is the leading digital estate planning platform in the U.S., trusted by over one million individuals and families. Our simple, secure, and attorney-approved online solutions help Americans easily create wills, trusts, healthcare directives, and other essential estate planning documents tailored to state-specific laws. With a focus on easy access and a guided experience, we're transforming how families plan for the future and protect their legacies. Our platform supports 17,000+ financial advisors, along with 150+ enterprise partners and financial institutions—including AARP, Fifth Third Bank, LPL Financial, UBS, and USAA. We empower professionals to integrate estate planning into their client services, enabling multi-generational wealth planning. With more than one million users and $100+ billion in self-reported estate assets, Trust & Will is redefining estate planning as a relationship-deepening driver of financial wellness. Recognized for innovation and leadership, Trust & Will has earned spots on the CNBC Disruptor 50, Inc. 5000, and Deloitte Technology Fast 500™ lists. Learn more at Visit 3BL Media to see more multimedia and stories from Fifth Third Bancorp
Business Wire
02-07-2025
- Business
- Business Wire
Students Earn Fifth Third Education Scholarships from the Fifth Third Foundation
CINCINNATI--(BUSINESS WIRE)--The Fifth Third Foundation has made education programs a top priority since its founding in 1948. To honor students with high achievements, Fifth Third established its Scholarship Program. These one-time $2,500 scholarships are awarded annually to children of Fifth Third employees for educational purposes at college or university. This year's scholarships total $62,500. Nearly 500 students have been recognized since 2005. Chosen and administered by the National Merit Scholarship Corp., the Fifth Third Scholarship Program recognizes the academic achievements of the following students, listed with their employee parent or parents and their work location: Emily Balent, Child of Maureen Balent, Cincinnati, Ohio Addison J. Wagner*, Child of Dana Berning, Cincinnati, Ohio Kolin L. Cafferky, Child of Traci Cafferky, Cincinnati, Ohio Dominic Capretti, Child of Donna Capretti, Crown Point, Indiana Brandon Fu*, Child of Heather Chu, Weston, Massachusetts Brennan Connor, Child of Trista Connor, Cincinnati, Ohio Alyssa L. Davis, Child of April Davis, Raleigh, North Carolina Parthav Gavini, Child of Raghuram Gavini and Swapna Peram, Cincinnati, Ohio Andrew T. Gillespie, Child of Benjamin Gillespie, Madisonville, Ohio Dominic M. Giordano, Child of Michelle Giordano, Cincinnati, Ohio Michael Granger*, Child of Lidia Granger, South Elgin, Illinois Aishani Kamath, Child of Sarojini Hejamady and Dinesh Kamath, Cincinnati, Ohio Avaneesh Konda*, Child of Anand Kumar Konda, Cincinnati, Ohio Madeline Leete, Child of Ashley Leete, Tyler, Texas Julia E. McTaggart, Child of Allison McTaggart, Hart, Michigan Jenna O'Driscoll*, Child of Eric O'Driscoll, Cincinnati, Ohio Ethan J. Park*, Child of Sung Park, Lincolnwood, Illinois Rudraa Patel, Child of Vidhi Patel and Niral Patel, Cincinnati, Ohio Hadley P. Robinson, Child of Brian Robinson, Cincinnati, Ohio Tanya Zhang*, Child of Rui Shen, Cincinnati, Ohio Quinn A. Smith*, Child of Rodney Smith, Greenwood, Indiana Suzanne I. Summers, Child of Lori Summers, Evergreen Park, Illinois Aliya Harris, Child of Damien Todd, Nashville, Tennessee Nubia Xochitl Zapata, Child of Ruben Zapata, Cicero, Illinois ''Here at the Fifth Third Foundation, we recognize access to higher education is essential for the growth of the next generation,'' said Kala Gibson, chief corporate responsibility officer at Fifth Third Bank, ''We are committed to supporting our employees and their families by helping their children pursue both personal and professional development.'' The National Merit Scholarship Corp. is an independent nonprofit organization. The National Merit Scholarship Program was designed to identify and honor exceptionally able high school students, and to provide a system of services for corporations, foundations and other organizations that wish to sponsor college undergraduate scholarships to students who interest them. All aspects of the selection of winners and the administration of their awards are handled by the NMSC. *National Merit Scholarship finalist About the Fifth Third Foundation Established in 1948, the Fifth Third Foundation was one of the first charitable foundations created by a financial institution. The Fifth Third Foundation supports worthy causes in the areas of health and human services, education, community development and the arts in the states where Fifth Third Bank operates. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies ® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
Business Wire
01-07-2025
- Business
- Business Wire
Fifth Third Wealth Advisors ® Surpasses $3 Billion in Net New Assets Under Management, Expands Platform Capabilities
CINCINNATI--(BUSINESS WIRE)--Fifth Third Wealth Advisors®, a multi-custodial registered investment advisory firm, announced it has surpassed $3 billion in net new assets under management, as of June 30, marking another major milestone in the firm's growth. This achievement underscores strong momentum and growing demand from both advisors and clients. According to independent research* Fifth Third Wealth Advisors ranks among the top 500 independent RIAs in the US. 'Our growth reflects the trust our clients place in us and the strength of the advisor teams we continue to attract,' said Eric Housman, president of Fifth Third Wealth Advisors. 'We are building a platform that empowers advisors with the independence, flexibility and tools they need to deliver exceptional client outcomes.' As part of its continued expansion, the firm has added Charles Schwab as a new custodial option on its platform, enhancing its custodial capabilities and providing clients with greater choice and flexibility. In addition, the firm is excited to begin a technology partnership with SS&C's Black Diamond® Wealth Platform, the leading end-to-end cloud-native wealth management platform delivering personalized, innovative and sophisticated wealth management experiences for clients and advisors. 'These new capabilities are part of our broader strategy to scale with purpose,' Housman said. 'We are investing in the infrastructure, technology and relationships that will continue to support our advisors and clients for years to come.' Fifth Third Wealth Advisors serve clients nationwide with offices located in Atlanta, Georgia; Naples and Tampa, Florida; Springfield, Illinois; Westchester, New York; Charlotte and Winston-Salem, North Carolina; Dallas, Texas; and Pittsburgh, Pennsylvania. The firm continues to actively recruit advisor teams seeking a platform that prioritizes independence, innovation and exceptional client service. Learn more about Fifth Third Wealth Advisors at or follow on LinkedIn. About Fifth Third Wealth Advisors Fifth Third Wealth Advisors LLC is a registered investment adviser with the U.S. Securities and Exchange Commission. As a subsidiary of Fifth Third Bank, the firm offers a platform designed for sophisticated investment advisors seeking independence, flexibility and a full suite of capabilities. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association, is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at
