Fifth Third Q1 2024 EPS $0.70 down 10% YoY; NIM compressed, deposits grew 5%

FIFTH THIRD BANCORP

2024-Q1 EPS reported $0.70 revenue$151,000,000

Net income available to common shareholders $480M ($0.70 diluted EPS) vs $535M ($0.78) year-ago.
Net interest margin (FTE) 2.86% vs 3.29% year-ago, down 43 bps; NII fell 9% YoY to $1.39B.
Average deposits increased 5% YoY to $168.1B; core deposits up 4%; loan-to-core deposit ratio 71%.
Net charge-off ratio 0.38% (0.26% year-ago); NPA ratio 0.64%; credit remains below historical levels.
CET1 capital ratio improved 15 bps QoQ to 10.44%; transferred $12.6B securities from AFS to HTM.

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 2024 results: net income $520 million, EPS $0.70 per diluted share.

Period: first quarter 2024
Net income: $520 million
EPS: $0.70 per diluted share
Result: reported results

Exact text from the filing

Fifth Third Bancorp Reports First Quarter 2024 Diluted Earnings Per Share of $0.70

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499 earnings releases filed in the last 30 days. Browse all earnings releases →

FIFTH THIRD BANCORP filing history →

Source: SEC EDGAR

accession 0000035527-24-000154

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