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Fifth Third Announces Fourth Quarter 2020 Results

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Fifth Third Bancorp (FITB):

Key Highlights

  • CET1 approx. 84 bps above target; positioned to initiate repurchases up to $180 million in 1Q21
  • Solid credit quality, with stable NCOs and declines in NPAs; reserve coverage reflects improved macroeconomic environment and credit results
  • Completed divestitures of property & casualty insurance and 401(k) recordkeeping businesses as well as facility exits to help deliver $200 million of annual expense savings
  • Closed acquisition of Hammond Hanlon Camp LLC, expanding our healthcare advisory expertise
  • Made $2.8 billion commitment to accelerate racial equity, equality and inclusion, including 4Q20 donation of $25 million

4Q20 compared to 3Q20

  • NII up 1%; Reported NIM stable, with ~8 bps expansion to underlying NIM excl. excess cash and all PPP impacts(f)
  • Noninterest income up 9%, and up 16% excl. certain items(a) reflecting record commercial banking revenue
  • Noninterest expense up 6% (up 3% excl. certain items and after impact of non-qualified deferred compensation(a)) reflecting strong business performance
 

Key Financial Data

 

 

 

 

 

 

 

$ millions for all balance sheet and income statement items

 

4Q20

3Q20

4Q19

 

 

 

 

 

 

 

Income Statement Data

 

 

 

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Fifth Third Bancorp

NASDAQ:FITB

FITB Rankings

#426 Ranked by Market Cap
#4144 Ranked by Stock Gains
#911 Ranked by Dividends

FITB Latest News

FITB Stock Data

Commercial Banking
Finance and Insurance
Link
Finance, Regional Banks, Finance and Insurance, Commercial Banking
US
Cincinnati

About FITB

at fifth third bank, we are always listening to new ideas so that we can strengthen our commitment to you and the communities we serve. fifth third bank, member fdic. fifth third bank is proud to be an affirmative action/equal opportunity employer. m/f/d/v