Fifth Third Bancorp Stock Earnings Reports

Fifth Third reported solid First Quarter 2026 results driven by the February 1 acquisition close (Comerica referenced throughout) and continued strength in legacy franchises. GAAP EPS was $0.15 and adjusted EPS was $0.83. Revenue was $2.9 billion (up 33% YoY) and adjusted net income was $734 million (up 38% YoY). Key performance metrics: adjusted ROA 1.12%, adjusted ROTCE (ex-AOCI) 13.7%, net charge-offs 37 bps (2-year low), NPA ratio improved to 57 bps, tangible common equity ratio 7.3% and tangible book value per share grew 1% sequentially. Management closed the largest M&A in company history and remains on plan for integration: target net cost savings of $360 million in 2026 and an $850 million annual run rate of cost synergies by Q4, with a systems conversion targeted for Labor Day weekend. Balance sheet and funding: end-period loans $178 billion, average loans guided to mid-$170s for full year, average core deposits $207 billion and end-period core deposits $231 billion; noninterest-bearing deposits increased to 28% of core deposits. Net interest income outperformed expectations; full-year NII guidance updated to $8.7–$8.8 billion given current rate outlook. Fee businesses (wealth and commercial payments) are scaling toward $1 billion each in annualized noninterest income; full-year noninterest income guided to $4.0–$4.2 billion. Expenses include $635 million of merger-related charges this quarter; adjusted noninterest expense guided to $7.2–$7.3 billion for FY2026, which incorporates $360 million of net expense synergies. Credit outlook: full-year net charge-offs expected 30–40 bps. Capital: CET1 ended at 10% pro forma (estimated fully phased-in under proposed rule ~9.6%); management expects to resume regular share repurchases in H2 2026 (amount/timing dependent on balance sheet growth and remaining merger charges) while prioritizing dividend, organic growth, then buybacks. Overall, management emphasizes integration execution, early revenue synergies, maintaining credit discipline, and the objective to exit 2026 near the profitability/efficiency targets set for 2027.