FIFTH THIRD BANCORP (FITB) Earnings History
FIFTH THIRD BANCORP - Q1 2026 EarningsMissed
EXECUTIVE SUMMARY
Fifth Third Bancorp reported a challenging first quarter of 2026, marked by a significant decline in net income and EPS, largely due to substantial merger-related charges from the Comerica acquisition. Despite these headwinds, the company highlighted strong underlying business momentum with growth in loans and deposits, and benefits from the acquisition, including net interest margin expansion.
POSITIVE HIGHLIGHTS
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Total revenue (FTE) increased 21% year-over-year to $2.834 billion, driven by the Comerica acquisition and business momentum.
positive - •
Net interest income (FTE) increased 34% year-over-year to $1.939 billion, with net interest margin expanding 27 bps.
positive - •
Total average deposits increased 28% year-over-year to $209 billion, reflecting the Comerica acquisition and growth in high-quality, low-cost deposits.
positive - •
Solid credit performance with net charge-off ratio at 0.37%, the lowest since Q4 2023.
positive
CONCERNS & RISKS
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Net income available to common shareholders decreased 82% sequentially to $128 million and 73% year-over-year to $478 million.
negative - •
Diluted EPS fell 86% sequentially to $0.15 and 79% year-over-year to $0.71.
negative - •
Merger-related charges of $657 million (pre-tax) and $510 million (after-tax) significantly impacted profitability.
negative - •
Noninterest expense increased 83% sequentially and 84% year-over-year to $2.395 billion, largely due to merger-related expenses.
negative - •
Efficiency ratio (FTE) deteriorated significantly to 84.5% from 55.8% in the prior quarter.
negative - •
CET1 capital ratio decreased 85 bps sequentially to 9.96%, reflecting capital impacts from the Comerica acquisition.
attention
FINANCIAL METRICS
MARGIN ANALYSIS
Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
REVENUE BY SEGMENT — Q1 2026 2026
VISUAL OVERVIEW
DETAILED BREAKDOWN
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Commercial Banking | N/A | — | — | — |
Consumer and Small Business Banking | N/A | — | — | — |
Wealth and Asset Management | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
EARNINGS CALL —
CALL GUIDANCE — Q1 2026 2026
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| net_interest_income | $8.7 to $8.8 billion | FY2026 | wide_range | New |
| net_interest_income | $2.2 to $2.25 billion | Q2 2026 | wide_range | New |
| average_total_loans | mid $170 billion range | FY2026 | wide_range | New |
| average_total_loans | $178 to $179 billion | Q2 2026 | wide_range | New |
| non_interest_income | $4.0 to $4.2 billion | FY2026 | wide_range | New |
| non_interest_income | $1 to $1.06 billion | Q2 2026 | wide_range | New |
| non_interest_expense | $7.2 to $7.3 billion | FY2026 | wide_range | New |
| non_interest_expense | $1.87 to $1.89 billion | Q2 2026 | wide_range | New |
| net_charge_offs | 30 to 40 basis points | FY2026 | wide_range | New |
| net_charge_offs | 30 to 35 basis points | Q2 2026 | wide_range | New |
| CET1 operating target | 10 to 10.5% | FY2026 | tight_range | New |
MACRO STANCE — Q1 2026 2026
- ratesheadwind
Q&A SIGNALS — Q1 2026 2026
SPECIAL ITEMS & ADJUSTMENTS
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
MANAGEMENT COMMENTARY
The first quarter reflected continued momentum across Fifth Third, with strong loan and deposit growth driven by new commercial relationships and continued household expansion.
We closed the acquisition of Comerica on February 1st, and early financial benefits are already showing up, including strong net interest margin expansion and tangible book value per share growth.
Integration is progressing as we expected. We have integrated the combined management teams and are retaining key customer‑facing colleagues, supporting continuity for clients as we move forward as one organization.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
OPERATIONAL METRICS
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.