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FIFTH THIRD BANCORP 8-K Report, Financial Results (Apr 17, 2026)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed April 17, 2026
Period End
April 17, 2026
In the record · 2016–202610-K1210-Q348-K328

FITB filed 12 annual reports (10-K), 34 quarterly reports (10-Q) and 328 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’17Apr ’17
  2. Leadership change8-K · Jul ’19Jul ’19
  3. Material agreement8-K · Jul ’21Jul ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed April 17, 2026. Cited figures are marked; the original filing is the authoritative source.

Fifth Third Bancorp (FITB) reported first quarter 2026 net income available to common shareholders of $128 milliona, or $0.15 per diluted share, down sharply from $699 million ($1.04) in the prior quarter and $478 million ($0.71) a year earlier.

The results are heavily distorted by the February 1, 2026 closing of the all-stock acquisition of Comerica (about $12.7 billionb), which included only two months of Comerica activity. Reported EPS absorbed a net $0.68 per-share hit from certain items, chiefly $657 million of pre-tax merger-related charges and an $83 million Day 1 allowance build. Management's adjusted EPS was $0.83.

Reported results were therefore not representative of underlying earnings power, and investors should focus on adjusted metrics and the post-merger run rate. On an underlying basis, the quarter showed strong operating momentum. Net interest income (FTE) rose 26% sequentially to $1.94 billionc, and net interest margin expanded 17 bps to 3.30%, helped by Comerica, lower funding costs and about $38 million of purchase accounting accretion.

Adjusted noninterest income grew 13% sequentially to $921 milliond, and adjusted noninterest expense was $1.77 billion. Credit performance improved, with the net charge-off ratio falling to 0.37% and the nonperforming asset ratio to 0.57%. Total assets reached $297 billion and total deposits $234 billion, with demand deposits rising to 28% of total deposits.

Tangible book value per share increased to $22.88, up 15% year over year. Offsetting these positives, the CET1 ratio fell 85 bps to 9.96% because of the acquisition, and no share repurchases were made. The company also issued updated 2Q26 and full-year 2026 guidance.

Management framed its priorities as "stability, profitability, and growth, in that order." Key open items include integration execution, the remaining merger-related charges (roughly half of the expected full-year total was taken in Q1), and whether the expense base and revenue synergies develop as guided. Investors should also note that the filing furnishes these materials under Items 2.02 and 7.01, meaning they are not deemed filed for Exchange Act Section 18 purposes.

02—Key points

Key Highlights

  1. Reported EPS of $0.15 diluted (vs. $1.04 in 4Q25 and $0.71 in 1Q25) included a net $0.68 per-share hit from certain items; adjusted EPS was $0.83.
  2. Comerica acquisition closed February 1, 2026 (~$12.7B all-stock), adding ~$86B in total assets, $51B in loans and $65B in deposits at opening; Q1 included only two months of Comerica.
  3. Merger-related charges of $657M pre-tax ($510M after-tax) plus an $83M Day 1 ACL build drove the reported earnings decline; Q1 represents about half of expected full-year merger charges.
  4. Net interest margin rose 17 bps sequentially to 3.30%, and NII (FTE) increased 26% to $1.94B, with about $38M of purchase accounting accretion.
  5. Credit quality improved: NCO ratio 0.37% (lowest since 4Q23 per management), NPA ratio 0.57% (vs. 0.81% a year ago), and ACL at 1.79% of portfolio loans.
  6. Capital dipped as expected: CET1 fell 85 bps to 9.96% on the acquisition (~$12.3B of stock issued, ~$6.2B goodwill and intangibles); no buybacks in Q1; tangible common equity rose to 7.25% including AOCI.
  7. Updated guidance: FY2026 NII of $8.7–8.8B, net charge-off ratio of 30–40 bps; 2Q26 NII of $2.20–2.25B and noninterest expense of $1.87–1.89B.

03—Questions

Frequently Asked Questions

  1. Why did Fifth Third's reported earnings fall so sharply in the first quarter?

    Reported diluted EPS of $0.15 was driven mainly by $657 million of pre-tax merger-related charges, an $83 million Day 1 allowance build tied to Comerica, and related integration costs. Together these items reduced EPS by $0.68. Management's adjusted EPS, which excludes these items, was $0.83. Because Q1 also included only two months of Comerica, the quarter does not reflect the combined company's full run rate.

  2. Is the Comerica acquisition showing early benefits?

    Management cites early signs of benefit, including NIM expansion of 17 bps sequentially, growth in demand deposits to 28% of total deposits, and tangible book value per share up 15% year over year. Management also reports early revenue synergies in commercial and consumer and customer retention. Full synergy realization remains a multi-year task, and the financial benefits are not yet fully visible in reported results.

  3. How strong is Fifth Third's capital position after the deal?

    The CET1 ratio declined to 9.96% from 10.81%, reflecting the acquisition's capital impacts, including about $6.2 billion of goodwill and intangibles and $73 billion of added risk-weighted assets. Tangible common equity including AOCI improved to 7.25%. Fifth Third did not repurchase shares in Q1. The company's capital return path will depend on how quickly capital rebuilds through earnings.

  4. What should investors watch in upcoming quarters?

    Key items include whether NIM and fee income hold up as Comerica is fully integrated, the pace of remaining merger charges, expense trajectory against guidance (2Q26 noninterest expense of $1.87–1.89 billion), credit performance against the 30–40 bps full-year NCO guidance, and CET1 rebuilding toward prior levels. Investors should also track the reconciliation between adjusted and reported results.

04—Continue

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