secwatch.observer — SEC 8-K summary
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Issuer:     FIFTH THIRD BANCORP (FITB)
CIK:        0000035527
Form:       8-K
Filed at:   2024-01-19T23:59:59+00:00
Accession:  0000035527-24-000005
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fifth Third Q4 2023 EPS $0.72, down 21% seq; NII -10% YoY; FDIC charge of $0.27 per share
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- Diluted EPS $0.72 vs $0.91 Q3 and $1.01 year ago; net income $530M down 28% YoY.
- Net interest income (FTE) $1.423B (-2% seq, -10% YoY); net interest margin 2.85% (-13bps seq).
- Noninterest expense $1.455B (+22% seq) included $224M FDIC special assessment; adjusted expense +2% seq.
- CET1 increased 49bps to 10.29%; transferred $12.6B AFS securities to HTM to reduce capital volatility.
- Average deposits +2% seq, +5% YoY; NCO ratio 0.32% improved but NPA ratio 0.59% up from 0.44% YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/35527/000003552724000005/0000035527-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/35527/000003552724000005/fitb-20240119.htm
  HTML page:      https://secwatch.observer/filing/0000035527-24-000005

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