Fifth Third Bancorp (FITB) Q2 2026 earnings summary

Executive summary

• Reported Q2 2026 EPS was $0.83, or $1.02 excluding $0.19 of certain items, reflecting strong integration progress with Comerica and visible long-term potential.

• Tangible book value per share increased 10% year-over-year, with improved efficiency and higher returns.

• Net income available to common shareholders was $763 million, up 496% sequentially and 29% year-over-year.

• Total assets surpassed $300 billion, marking transition to Category III institution.

• Broad-based growth in fee businesses, deposits, and commercial lending, with Southeast and Southwest markets delivering strong household and deposit gains.

Financial highlights

• Net interest income was $2.22 billion, up 14% sequentially and 48% year-over-year; net interest margin expanded 6 bps to 3.36%.

• Adjusted noninterest income rose to $1.04 billion, up 13% sequentially and 41% year-over-year.

• Adjusted noninterest expense was $1.86 billion, with $203 million in merger-related charges; efficiency ratio improved to 57.1%.

• Average portfolio loans and leases grew to $178 billion, up 13% sequentially and 44% year-over-year; commercial loans up 17% sequentially.

• Average deposits reached $232 billion, up 11% sequentially and 42% year-over-year.

Outlook and guidance

• Full-year NII guidance raised to $8.74–$8.8 billion; non-interest income guidance to $4.06–$4.16 billion; non-interest expense guidance lowered to $7.22–$7.26 billion.

• Full-year adjusted PPNR growth expected to exceed 40% versus 2025.

• Net charge-offs for the second half expected at 30–35 bps, with full-year performance in the lower half of the 30–40 bps range.

• CET1 operating target is 10%–10.5%, with capital return via share repurchases expected to resume in the second half.

• Integration of Comerica remains on track, with systems conversion scheduled for Labor Day weekend and expected cost synergies to be fully realized.