$FITB · FIFTH THIRD BANCORP
Fifth Third Bancorp reported Q3 2026 net income of $828M ($0.90 diluted EPS), with adjusted EPS of $1.13 excluding $0.23 in merger-related charges, interchange litigation matters, and technology asset impairments. Net interest income (FTE) rose 3% sequentially to $2.28B, while the CET1 ratio improved to 10.02%. The Comerica systems conversion was completed during the quarter with strong client and banker retention.
- Adjusted EPS of $1.13 excludes $0.23 in merger charges, interchange litigation, and tech asset impairments.
- Net interest income (FTE) rose 3% sequentially to $2.28B; NIM compressed 2 bps to 3.34%.
- Core deposits grew 3% sequentially; loan-to-core-deposit ratio improved to 76% from 77%.
- CET1 capital ratio increased to 10.02% from 9.93%; no share repurchases during the quarter.
- Net charge-off ratio held stable at 31 bps, with commercial NCOs at 22 bps and consumer at 52 bps.
Extended-hours trading shows FITB at $49.86, down 1.01% from the regular close of $50.37, suggesting the market is weighing the $0.23 in certain-item adjustments and NIM compression against otherwise solid organic growth metrics.
The first full quarter post-Comerica conversion shows the combined entity generating 20.6% adjusted ROTCE with stable credit, validating the acquisition thesis.
The Comerica integration is delivering tangible operating leverage — 450 bps positive from Q2 — and deposit share gains in Texas, California, and the Southeast, positioning Fifth Third as a rare regional bank showing both deal-synergy realization and organic growth simultaneously.
Merger-related charges totaled $1.04B year-to-date and remain ongoing per the integration timeline. Deposit-cost pressure from higher market rates and migration of former Comerica off-balance-sheet sweep balances into interest-bearing deposits compressed NIM.
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