Overview
Fifth Third Bancorp (NYSE:FITB) posted its second‑quarter 2026 results for the quarter ended June 30. Diluted earnings per share were $0.83, falling short of the Wall Street consensus of $0.84 by $0.01. On an adjusted basis, excluding $0.19 of merger‑related charges and other items, EPS was $1.02.
Financial Performance
Revenue on a fully taxable‑equivalent basis rose 46% year‑over‑year to $3.28 billion, reflecting the full‑quarter contribution from the recent Comerica acquisition. Net interest income increased 48% YoY to $2.22 billion, while non‑interest income grew 41% to $1.06 billion. The net interest margin expanded six basis points sequentially to 3.36%.
Net charge‑offs improved to 0.30% of average loans, the lowest level since Q2 2023. The provision for credit losses was $129 million, down from $227 million in the prior quarter, leaving the allowance for credit losses at 1.76% of the loan portfolio.
Non‑interest expense rose 67% YoY to $2.11 billion, of which $203 million were merger‑related charges. The adjusted efficiency ratio improved to 57.1% from 61.9% in the previous quarter.
Average loans and leases totaled $178.7 billion, up 45% YoY, driven by the Comerica acquisition and organic commercial loan growth. Average deposits increased 42% YoY to $231.5 billion, with $2.5 billion of consumer deposits generated through the Comerica Southwest marketing campaign, surpassing internal targets.
Market Reaction
Despite the slight earnings miss, the bank’s shares rose 1.58% in pre‑market trading as investors focused on the robust revenue expansion and the improvement in credit quality.
Management Commentary
CEO Tim Spence said the quarter represented “another step toward the earnings power we committed to deliver by year‑end,” highlighting momentum in fee businesses such as wealth and asset management, commercial payments, and capital markets.