secwatch.observer — SEC 8-K summary
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Issuer:     FIFTH THIRD BANCORP (FITB)
CIK:        0000035527
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0000035527-24-000154
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/35527/000003552724000154/0000035527-24-000154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/35527/000003552724000154/fitb-20240419.htm
  HTML page:      https://secwatch.observer/filing/0000035527-24-000154

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer