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5/3 FIFTH THIRD BANCORP Fifth Third Announces Third Quarter 2021 Results Reported diluted earnings per share of $ 0.97 Reported results included a positive $ 0.03 impact from certain items on page 2 Key Financial Data Key Highlights $ millions for all balance sheet and income statement items 3Q21 2Q21 3Q20 Select Business Highlights : Income Statement Data Net income available to common shareholders $ 684 $ 674 $ 562 Net interest income ( U.S. GAAP ) 1,189 1,208 1,170 Net interest income ( FTE ) ( a ) 1,192 1,211 1,173 Noninterest income 836 741 722 1,172 1,153 1,161 Noninterest expense Per Share Data Earnings per share , basic Earnings per share , diluted Book value per share $ 0.98 $ 0.95 $ 0.78 0.97 0.94 29.59 29.57 22.79 23.34 0.78 29.25 23.06 ⚫ Closed acquisition of Provide , a leading fintech company serving healthcare practices • Finalized HSA deposit sale , generating a pre - tax gain of $ 60 million ( noninterest income ) • Made $ 15 million pre - tax contribution to accelerate racial equality , equity and inclusion in our communities • Generated consumer household growth of 3 % vs. 3Q20 • Commercial loan production increased 5 % compared to 2Q21 ; strongest production quarter since 4Q19 Select Financial Highlights : Tangible book value per share ( a ) Balance Sheet & Credit Quality Average portfolio loans and leases $ 107,970 Average deposits 162,647 $ 108,534 162,619 $ 113,362 155,911 Net charge - off ratio ( b ) 0.08 % 0.16 % 0.35 % Nonperforming asset ratio ( c ) 0.52 0.61 0.84 Financial Ratios Return on average assets 1.36 % 1.38 % 1.14 % • Return on average common equity 13.0 13.0 10.7 Return on average tangible common equity ( a ) 16.9 16.6 13.8 CET1 capital ( d ) ( e ) 9.85 10.37 10.14 Net interest margin ( a ) 2.59 2.63 2.58 • Efficiency ( a ) 57.8 59.1 61.3 Other than the Quarterly Financial Review tables beginning on page 14 , 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 ROTCE ( a ) of 16.9 % ; adjusted ROTCE ( a ) of 18.7 % excl . AOCI PPNR ( a ) increased 17 % and adjusted PPNR ( a ) increased 4 % compared to 3Q20 Period - end C & I loan growth of 1 % ( or 4 % excl . impact of PPP loans ) compared to 2Q21 Historically low NCO ratio of 0.08 % reflecting improvements in both commercial and consumer Repurchased shares totaling $ 550 million ; capital plans support repurchase of shares totaling approximately $ 300 million in 4Q21 ; continue to target 9.5 % CET1 by June 2022 " Fifth Third has continued to deliver strong and steady financial results throughout the pandemic while fully supporting our customers , communities , and employees . Our performance this quarter once again reflected strong business outcomes across our franchise , resulting in improved and diversified revenues . This was combined with disciplined balance sheet management , expense management , and yet another quarter of benign credit results . As a result of our continued momentum , we generated positive operating leverage on a year - over - year basis . Excluding the impact of the Paycheck Protection Program ( PPP ) , loan growth this quarter reflected robust production , with even better growth on an end - of - period basis . We expect this positive momentum to carry forward in the fourth quarter and beyond . 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 . We made a $ 15 million contribution in the third quarter to accelerate racial equality , equity and inclusion in our communities . We closed two transactions during the third quarter to improve growth and profitability . The acquisition of Provide - a leading fintech company serving healthcare practices - will further accelerate profitable relationship growth . Additionally , we finalized the sale of HSA deposits as part of our multi - year strategy to simplify the organization and prioritize investments in order to generate differentiated outcomes for customers and shareholders . We continue to focus on growing strong relationships and managing the balance sheet with a through - the - cycle perspective in order to generate sustainable long - term value . " -Greg D. Carmichael , Chairman and CEO Investor contact : Chris Doll ( 513 ) 534-2345 | Media contact : Ed Loyd ( 513 ) 534-6397 October 19 , 2021