Q2 2026 Fifth Third Bancorp Earnings Call Transcript
Key Points
- Fifth Third Bancorp (FITB) reported a strong increase in tangible book value per share, up 10% year over year and 1% sequentially.
- The company's adjusted return on tangible common equity improved to 19%, and the adjusted return on assets increased to 1.3%.
- Consumer and small business deposits grew by 4% sequentially, driven by strong new customer acquisition, particularly in the Southeast.
- Fifth Third Bancorp (FITB) achieved significant milestones in its fee businesses, with commercial payments and wealth and asset management each reaching a $1 billion-plus annualized fee run rate.
- The company is on track to realize $850 million of annualized run rate synergies from its merger with Comerica, with systems conversion expected to unlock further benefits.
- The integration of Comerica is still ongoing, and not all metrics are where they are expected to be post-integration.
- Despite the positive growth in deposits, the competitive environment for consumer deposits remains intense, leading to increased costs for deposit growth.
- Commercial loan growth was modest, with some sectors showing hesitancy, particularly those focused on value-oriented consumers.
- The company remains more asset-sensitive than historically, which could pose risks in a volatile interest rate environment.
- There is uncertainty regarding the potential impacts of regulatory changes, such as Basel III endgame and LCR reform, on the company's capital and liquidity management.
Hello, everyone. Thank you for joining us, and welcome to the Fifth Third second quarter earnings call. (Operator Instructions)
I will now hand the conference over to Matt Curoe, Director of Investor Relations. Please go ahead.
Good morning, everyone. Welcome to Fifth Third's Second Quarter 2026 Earnings Call. This morning, our Chairman and CEO and President, Tim Spence; and CFO, Bryan Preston, will provide an overview of our second quarter results and outlook.
Please review the cautionary statements in our materials, which can be found in our earnings release and presentation. These materials contain information regarding the use of non-GAAP measures and reconciliations to the GAAP results as well as forward-looking statements about Fifth Third's performance. These statements speak only as of July 17, 2026, and Fifth Third undertakes no obligations to update them.
Following prepared remarks by Tim and Bryan, we will open up the call for questions.
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