Fifth Third Q4 2020 Earnings Report
Key Takeaways
Fifth Third Bancorp reported Q4 2020 net income of $604 million, compared to $581 million in the prior quarter and $734 million in the year-ago quarter. Diluted earnings per share were $0.78. The results reflect strong business performance and improved credit quality compared to the prior quarter.
CET1 approx. 84 bps above target; positioned to initiate repurchases up to $180 million in 1Q21
Solid credit quality, with stable NCOs and declines in NPAs; reserve coverage reflects improved macroeconomic environment and credit results
Completed divestitures of property & casualty insurance and 401(k) recordkeeping businesses as well as facility exits to help deliver $200 million of annual expense savings
Closed acquisition of Hammond Hanlon Camp LLC, expanding our healthcare advisory expertise
Fifth Third
Fifth Third
Fifth Third Revenue by Segment
Forward Guidance
Fifth Third did not provide specific forward guidance in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income