Fifth Third Q1 2023 EPS $0.78; NII down 4% QoQ; deposits flat; announces Big Data Healthcare acquisition

FIFTH THIRD BANCORP

2023-Q1 EPS reported $0.78 revenue$137,000,000

Diluted EPS $0.78 in Q1 2023 vs $1.01 in Q4 2022 and $0.68 in Q1 2022; net income $558M.
Net interest income (FTE) $1,522M, down 4% QoQ; net interest margin 3.29%, down 6 bps.
Average deposits flat QoQ at $160.6B; estimated uninsured deposits ~$64.6B, or 40% of total deposits.
Credit quality: net charge-off ratio 0.26%, ACL ratio 1.99%; nonperforming asset ratio 0.51%.
Announced acquisition of Big Data Healthcare to accelerate digital payments and managed services.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIFTH THIRD BANCORP reported first quarter 2023 results: net income $558 million, EPS $0.78 per diluted share.

Period: first quarter 2023
Net income: $558 million
EPS: $0.78 per diluted share
Result: reported results

Exact text from the filing

Fifth Third Bancorp (NASDAQ ® : FITB) today reported first quarter 2023 net income of $558 million compared to net income of $737 million in the prior quarter and $494 million in the year-ago quarter. Net income available to common shareholders in the current quarter was $535 million, or $0.78 per diluted share, compared to $699 million, or $1.01 per diluted share, in the prior quarter and $474 million, or $0.68 per diluted share, in the year-ago quarter.

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Source: SEC EDGAR

accession 0000035527-23-000153

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