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Key Financial Data FIFTH THIRD BANCORP Fifth Third Announces First Quarter 2021 Results Reported diluted earnings per share of $ 0.93 $ millions for all balance sheet and income statement items 1Q21 4Q20 1Q20 Income Statement Data Net income available to common shareholders $ 674 $ 569 $ 29 Net interest income ( U.S. GAAP ) 1,176 1,182 1,229 Net interest income ( FTE ) ( a ) 1,179 1,185 1,233 749 787 671 1,215 1,236 1,200 Noninterest income Noninterest expense Per Share Data 0.44 % 0.60 Earnings per share , basic $ 0.94 $ 0.79 $ 0.04 Earnings per share , diluted 0.93 0.78 0.04 Book value per share 28.78 29.46 28.26 Tangible book value per share ( a ) 22.60 23.28 22.02 Balance Sheet & Credit Quality Average portfolio loans and leases $ 108,956 Average deposits 158,888 $ 109,360 158,626 $ 110,779 126,789 Net charge - off ratio ( b ) 0.27 % 0.43 % Nonperforming asset ratio ( c ) 0.72 0.79 Financial Ratios Return on average assets 1.38 % 1.18 % Return on average common equity 13.1 10.8 0.11 % 0.6 Return on average tangible common equity ( a ) 16.8 13.9 1.0 CET1 capital ( d ) ( e ) 10.46 10.34 9.37 Net interest margin ( a ) 2.62 2.58 3.28 Efficiency ( a ) 63.0 62.7 63.0 Other than the Quarterly Financial Review tables beginning on page 13 , commentary is on a fully taxable - equivalent ( FTE ) basis unless otherwise noted . Consistent with SEC guidance in Industry Guide 3 that contemplates the calculation of tax- exempt income on a taxable - equivalent basis , net interest income , net interest margin , net interest rate spread , total revenue and the efficiency ratio are provided on an FTE basis . CEO Commentary Key Highlights Returned $ 180 million to shareholders through repurchases ; capacity to repurchase up to $ 347 million in 2Q21 ROTCE ( a ) of 16.8 % ; adjusted ROTCE ( a ) of 19.8 % excl . AOCI improved 150 bps sequentially Produced record commercial banking revenue Generated consumer household growth of 3 % compared to 1Q20 Historically low NCO ratio reflecting improvements in commercial and consumer Benefit to credit losses and resulting reserve coverage reflects improved macroeconomic environment and strong credit results ; NPA ratio improved 7 bps sequentially NII ( a ) down 1 % ; reported NIM ( a ) increased 4 bps , with ~ 4 bps decline in underlying NIM excl . excess cash and all PPP impacts ( f ) Named one of the " World's Most Ethical Companies " by Ethisphere Exceeded five - year commitment to low - and- moderate income communities by more than $ 9 billion " Fifth Third's quarterly financial performance was once again strong , reflecting record commercial banking revenue , continued momentum generating household growth , a strong underlying net interest margin , and historically low net charge - offs with improvements in both commercial and consumer portfolios . Our credit results continue to demonstrate the strength of our balance sheet , as we have maintained our disciplined client selection , adhered to our conservative underwriting , and continued to manage our balance sheet exposures with a focus on a long - term performance horizon . I am optimistic that we will continue to benefit from an improving economic environment , including higher interest rates , as well as a more vibrant economy over the next year within most of our commercial franchise and throughout our retail footprint . Despite the overall economic recovery over the past several quarters , I recognize that not everyone in our society has benefited from it . This is why I am very proud that , in addition to producing strong financial results , we have also continued to take deliberate actions to improve the lives of our customers and the well - being of our communities . I am particularly pleased that we exceeded our five - year community commitment to invest in low - and - moderate income communities by more than $ 9 billion . We were honored to be named one of the world's most ethical companies by Ethisphere , reflecting our strong corporate culture , compliance program , and ESG actions . We are guided by our core values to work as one bank , be respectful , take accountability , and always act with integrity . We remain committed to generating sustainable long - term value for shareholders and anticipate that we will continue improving our relative performance as a top performing regional bank . " -Greg D. Carmichael , Chairman and CEO Investor contact : Chris Doll ( 513 ) 534-2345 | Media contact : Ed Loyd ( 513 ) 534-6397 April 20 , 2021