Fifth Third Bancorp - $FITB STOCK NEWS

Fifth Third Bank celebrated 'Fifth Third Day' by giving $1,053 to 115 babies born on May 3 in selected Tampa Bay and Northeast Ohio hospitals, for their 529 college savings accounts. Regional presidents and local celebrities greeted new parents and provided a care package. Since 2017, over 600 babies have received this gift, aiming to alleviate the burden of future education costs, which can exceed $146,000 for a four-year college. Parents are encouraged to start saving early through 529 plans.

Fifth Third Bank's employees and customers will celebrate 'Fifth Third Day XXXIII' by volunteering and donating to fight food insecurity, providing millions of meals to communities facing hunger. Since 1991, the Bank has recognized Fifth Third Day, with this year's theme focusing on food insecurity. In 2022, 44 million people, including over 13 million children, faced hunger. The Bank will provide 1.5 million meals through Feeding America and offer opportunities for customers and employees to support hunger relief. The eBus initiative will tour Ohio, offering enhanced services and community resources. Fifth Third will also gift $1,053 to families of babies born on Fifth Third Day to open a 529 college savings account.

Fifth Third Bank joins Mastercard's Priceless Planet Coalition to restore 100 million trees by 2025, contributing to 10,000 trees. The initiative focuses on tree restoration across six continents with 18 projects, including one in Kentucky. The bank's commitment to combat climate change aligns with its corporate sustainability priorities, emphasizing the importance of reforestation in addressing environmental challenges.

Fifth Third Bancorp reported first quarter 2024 diluted earnings per share of $0.70, showcasing stability in deposits, profitability through fee performance growth, disciplined expense management, and strong growth in key areas. The bank saw a decrease in net income compared to the prior quarter and year-ago quarter, impacted by certain items, resulting in a diluted earnings per share of $0.70 with a negative $0.06 impact from these items. Key financial data revealed a 5% increase in average deposits year-over-year, a loan-to-core deposit ratio of 71%, and a CET1 capital increase of 15 bps sequentially to 10.44%. Fifth Third Wealth Advisors surpassed $1 billion in assets under management, and the bank demonstrated stability, profitability, and growth in its financial performance.

Fifth Third Bancorp (FITB) announces the re-election of directors and shareholder approvals at the Annual Shareholders Meeting. Key directors include Nicholas K. Akins, Evan Bayh III, and Jorge L. Benitez. Shareholders also approved the appointment of Deloitte & Touche LLP as the external audit firm for 2024, executive compensation, and incentive compensation plans.

Fifth Third (FITB) launches Empowering American Cities with the Kenan Institute to provide local economic insights for business growth. The program offers unique data for decision-making, focusing on midsize cities and Extended Metropolitan Areas.

Fifth Third Bank's independent Registered Investment Advisor, Fifth Third Wealth Advisors, surpasses $1 billion in assets under management in under 18 months. The national practice offers a hybrid model for advisors, combining flexibility with access to trust powers, credit, and planning through Fifth Third.

Fifth Third Bank has been named No. 1 for Retail Banking Customer Satisfaction in Florida by J.D. Power as part of its 2024 U.S. Retail Banking Satisfaction Study. Customers rated Fifth Third No. 1 in trust, staff, account offerings, and value. The Bank aims to be the most valued and trusted, with a strong presence in Florida and plans for further expansion.

Fifth Third Bank receives the Top Workplaces USA award for the third consecutive year, showcasing its commitment to an engaging and inclusive culture. Over 11,000 employees participated in the survey, highlighting the positive work environment and strong employee engagement at Fifth Third.