FIFTH THIRD BANCORP, 10-K filed on 2/24/2025
Annual Report
v3.25.0.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Jan. 31, 2025
Jun. 30, 2024
Entity Listings [Line Items]      
Document Type 10-K    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Entity File Number 001-33653    
Entity Incorporation, State or Country Code OH    
Entity Tax Identification Number 31-0854434    
Entity Address, Address Line One 38 Fountain Square Plaza    
Entity Address, City or Town Cincinnati    
Entity Address, State or Province OH    
Entity Address, Postal Zip Code 45263    
City Area Code 800    
Local Phone Number 972-3030    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   665,618,316  
Entity Public Float     $ 21.7
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE

This report incorporates into a single document the requirements of the U.S. Securities and Exchange Commission (the “SEC”) with respect to annual reports on Form 10-K and annual reports to shareholders. Sections of the Bancorp’s Proxy Statement for the 2025 Annual Meeting of Shareholders are incorporated by reference into Part III of this report.

Only those sections of this 2024 Annual Report to Shareholders that are specified in this Cross Reference Index constitute part of the registrant’s Form 10-K for the year ended December 31, 2024. No other information contained in this 2024 Annual Report to Shareholders shall be deemed to constitute any part of this Form 10-K nor shall any such information be incorporated into the Form 10-K and shall not be deemed “filed” as part of the registrant’s Form 10-K.
    
Amendment Flag false    
Entity Central Index Key 0000035527    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Document Annual Report true    
Document Transition Report false    
Entity Registrant Name FIFTH THIRD BANCORP    
Treasury Stock      
Entity Listings [Line Items]      
Title of 12(b) Security Common Stock, Without Par Value    
Trading Symbol FITB    
Security Exchange Name NASDAQ    
Preferred stock, Series I      
Entity Listings [Line Items]      
Title of 12(b) Security 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I    
Trading Symbol FITBI    
Security Exchange Name NASDAQ    
Class B Preferred stock, Series A      
Entity Listings [Line Items]      
Title of 12(b) Security 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A    
Trading Symbol FITBP    
Security Exchange Name NASDAQ    
Preferred Stock, Series K      
Entity Listings [Line Items]      
Title of 12(b) Security 4.95% Non-Cumulative Perpetual Preferred Stock, Series K    
Trading Symbol FITBO    
Security Exchange Name NASDAQ    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Name Deloitte & Touche LLP
Auditor Location Cincinnati, Ohio
Auditor Firm ID 34
v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 3,014 $ 3,142
Other short-term investments [1] 17,120 22,082
Available-for-sale debt and other securities 39,547 50,419
Held-to-maturity securities 11,278 2
Trading debt securities 1,185 899
Equity securities 341 613
Loans and leases held for sale 640 378
Total portfolio loans and leases 119,791 117,234
Allowance for loan and lease losses [1] (2,352) (2,322)
Portfolio loans and leases, net 117,439 114,912
Bank premises and equipment 2,475 2,349
Operating lease equipment 319 459
Goodwill 4,918 4,919
Intangible assets 90 125
Servicing rights 1,704 1,737
Other assets [1] 12,857 12,538
Total Assets 212,927 214,574
Deposits:    
Noninterest-bearing deposits 41,038 43,146
Interest-bearing deposits 126,214 125,766
Total deposits 167,252 168,912
Federal funds purchased 204 193
Other short-term borrowings 4,450 2,861
Accrued taxes, interest and expenses 2,137 2,195
Other liabilities [1] 4,902 4,861
Long-term debt [1] 14,337 16,380
Total Liabilities 193,282 195,402
Equity    
Common stock [2] 2,051 2,051
Preferred stock [3] 2,116 2,116
Capital surplus 3,804 3,757
Retained earnings 24,150 22,997
Accumulated other comprehensive loss (4,636) (4,487)
Treasury stock [2] (7,840) (7,262)
Total Equity 19,645 19,172
Total Liabilities and Equity $ 212,927 $ 214,574
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
[2] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at December 31, 2024 – 669,853,830 (excludes 254,038,751 treasury shares), 2023 – 681,124,810 (excludes 242,767,771 treasury shares).
[3]
(c)500,000 shares of no par value preferred stock were authorized at both December 31, 2024 and 2023. There were 422,000 unissued shares of undesignated no par value preferred stock at both December 31, 2024 and 2023. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both December 31, 2024 and 2023. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both December 31, 2024 and 2023. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.
v3.25.0.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Other short-term investments [1] $ 17,120 $ 22,082
Total portfolio loans and leases 119,791 117,234
Allowance for loan and lease losses [1] (2,352) (2,322)
Other assets [1] 12,857 12,538
Other liabilities [1] 4,902 4,861
Long-term debt [1] 14,337 16,380
Amortized Cost 43,878 55,789
Held-to-maturity securities 10,965 2
Bank premises and equipment held for sale $ 14 $ 19
Common stock, par value (in dollars per share) $ 2.22 $ 2.22
Common stock, authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, outstanding (in shares) 669,853,830 681,124,810
Treasury shares (in shares) 254,038,751 242,767,771
Preferred stock, authorized (in shares) 500,000 500,000
Preferred stock, unissued (in shares) 422,000 422,000
Preferred stock, liquidation preference per share (in dollars per share) $ 25,000 $ 25,000
Preferred Class B    
Preferred stock, authorized (in shares) 500,000 500,000
Preferred stock, unissued (in shares) 300,000 300,000
Preferred stock, liquidation preference per share (in dollars per share) $ 1,000 $ 1,000
Residential Mortgage    
Allowance for loan and lease losses $ (146) $ (145)
Loans held for sale 574 334
Loans measured at FV 108 116
Variable Interest Entity, Primary Beneficiary | Automobile And Solar Loan    
Other short-term investments 51 55
Total portfolio loans and leases 1,000 1,573
Allowance for loan and lease losses (19) (28)
Other assets 5 10
Other liabilities 12 14
Long-term debt $ 889 $ 1,409
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest Income      
Interest and fees on loans and leases $ 7,477 $ 7,334 $ 4,954
Interest on securities 1,839 1,770 1,517
Interest on other short-term investments 1,110 656 116
Total interest income 10,426 9,760 6,587
Interest Expense      
Interest on deposits 3,736 2,929 447
Interest on federal funds purchased 11 15 6
Interest on other short-term borrowings 157 247 108
Interest on long-term debt 892 742 417
Total interest expense 4,796 3,933 978
Net Interest Income 5,630 5,827 5,609
Provision for credit losses 530 515 563
Net Interest Income After Provision for Credit Losses 5,100 5,312 5,046
Noninterest Income      
Wealth and asset management revenue 647 581 570
Commercial payments revenue 608 564 568
Consumer banking revenue 555 546 542
Capital markets fees 424 422 387
Commercial banking revenue 377 409 419
Mortgage banking net revenue 211 250 215
Other noninterest income 12 91 149
Securities gains (losses), net 15 18 (84)
Total noninterest income 2,849 2,881 2,766
Noninterest Expense      
Compensation and benefits [1] 2,763 2,694 2,554
Technology and communications [1] 474 464 416
Net occupancy expense [1] 339 331 307
Equipment expense [1] 153 148 145
Loan and lease expense [1] 132 133 167
Marketing expense [1] 115 126 118
Card and processing expense [1] 84 84 80
Other noninterest expense [1] 973 1,225 932
Total noninterest expense [1] 5,033 5,205 4,719
Income (loss) before income taxes (FTE) 2,916 2,988 3,093
Applicable income tax expense 602 639 647
Net Income 2,314 2,349 2,446
Dividends on preferred stock 159 137 116
Net Income Available to Common Shareholders $ 2,155 $ 2,212 $ 2,330
Shares Disclosures      
Earnings per share - basic (in dollars per share) $ 3.16 $ 3.23 $ 3.38
Earnings per share - diluted (in dollars per share) $ 3.14 $ 3.22 $ 3.35
Average common shares outstanding - basic (in shares) 682,160,985 684,172,079 688,633,659
Average common shares outstanding - diluted (in shares) 687,300,837 687,678,291 694,952,038
[1] During the fourth quarter of 2024, certain noninterest income and noninterest expense line items were reclassified to better align disclosures to business activities. These reclassifications were retrospectively applied to all prior periods presented. Total noninterest income and noninterest expense did not change as a result of these reclassifications. Refer to Note 1 for additional information.
v3.25.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net Income $ 2,314 $ 2,349 $ 2,446
Net unrealized losses on available-for-sale debt securities:      
Unrealized holding gains (losses) arising during the year 15 494 (5,478)
Unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities 785 0 0
Reclassification adjustment for net losses (gains) included in net income 14 1 (2)
Net unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities:      
Unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities (785) 0 0
Amortization of unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities 101 0 0
Net unrealized losses on cash flow hedge derivatives:      
Unrealized holding losses arising during the year (552) (131) (774)
Reclassification adjustment for net losses (gains) included in net income 270 257 (77)
Defined benefit pension plans, net:      
Net actuarial (loss) gain arising during the year (2) (1) 9
Reclassification of amounts to net periodic benefit costs 3 3 5
Other 2 0 0
Other comprehensive (loss) income, net of tax (149) 623 (6,317)
Comprehensive Income (Loss) $ 2,165 $ 2,972 $ (3,871)
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Preferred stock, Series H
Preferred stock Series I
Preferred stock, Series J
Preferred Stock Series K
Preferred stock, Series L
Class B Series A Preferred Stock
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Preferred Stock
Preferred Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Capital Surplus
Capital Surplus
Cumulative Effect, Period of Adoption, Adjusted Balance
Retained Earnings
Retained Earnings
Preferred stock, Series H
Retained Earnings
Preferred stock Series I
Retained Earnings
Preferred stock, Series J
Retained Earnings
Preferred Stock Series K
Retained Earnings
Preferred stock, Series L
Retained Earnings
Class B Series A Preferred Stock
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury Stock
Treasury Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning Balance at Dec. 31, 2021 $ 22,210                 $ 2,051   $ 2,116   $ 3,624   $ 20,236                 $ 1,207   $ (7,024)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                        
Net Income 2,446                             2,446                        
Other comprehensive (loss) income, net of tax (6,317)                                               (6,317)      
Cash dividends declared:                                                        
Common stock (877)                             (877)                        
Preferred stock [1]   $ (31) $ (30) $ (15) $ (12) $ (16) $ (12)                   $ (31) $ (30) $ (15) $ (12) $ (16) $ (12)            
Shares acquired for treasury (100)                                                   (100)  
Impact of stock transactions under stock compensation plans, net 81                         60                         21  
Ending Balance at Dec. 31, 2022 $ 17,327             $ 37 $ 17,364 2,051 $ 2,051 2,116 $ 2,116 3,684 $ 3,684 21,689             $ 37 $ 21,726 (5,110) $ (5,110) (7,103) $ (7,103)
Cash dividends declared:                                                        
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2022-02 [Member]                                                      
Net Income $ 2,349                             2,349                        
Other comprehensive (loss) income, net of tax 623                                               623      
Common stock (941)                             (941)                        
Preferred stock [1]   (42) (30) (25) (12) (16) (12)                   (42) (30) (25) (12) (16) (12)            
Shares acquired for treasury (201)                                                   (201)  
Impact of stock transactions under stock compensation plans, net 115                         73                         42  
Ending Balance at Dec. 31, 2023 19,172             $ (10) [2] $ 19,162 2,051 $ 2,051 2,116 $ 2,116 3,757 $ 3,757 22,997             $ (10) [2] $ 22,987 (4,487) $ (4,487) (7,262) $ (7,262)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                        
Net Income 2,314                             2,314                        
Other comprehensive (loss) income, net of tax (149)                                               (149)      
Cash dividends declared:                                                        
Common stock [1] (992)                             (992)                        
Preferred stock [1]   $ (51) $ (42) $ (26) $ (12) $ (16) $ (12)                   $ (51) $ (42) $ (26) $ (12) $ (16) $ (12)            
Shares acquired for treasury (630)                                                   (630)  
Impact of stock transactions under stock compensation plans, net 99                         47                         52  
Ending Balance at Dec. 31, 2024 $ 19,645                 $ 2,051   $ 2,116   $ 3,804   $ 24,150                 $ (4,636)   $ (7,840)  
[1] Refer to Note 24 for further information on dividends declared for preferred stock.
[2] Related to the adoption of ASU 2023-02 as of January 1, 2024. Refer to Note 1 for additional information.
v3.25.0.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Common stock dividends, per share (in dollars per share) $ 1.44 $ 1.36 $ 1.26
Net Income $ 2,314 $ 2,349 $ 2,446
Preferred stock, Series H      
Preferred stock dividends, per share (in usd per share) [1] $ 2,144.06 $ 1,740.35 $ 1,275
Preferred stock Series I      
Preferred stock dividends, per share (in usd per share) [1] 2,316.08 1,656.24 1,656.24
Preferred stock, Series J      
Preferred stock dividends, per share (in usd per share) [1] 2,168.54 2,131.27 1,249.19
Preferred Stock Series K      
Preferred stock dividends, per share (in usd per share) [1] 1,237.5 1,237.5 1,237.5
Preferred stock, Series L      
Preferred stock dividends, per share (in usd per share) [1] 1,125 1,125 1,125
Class B Series A Preferred Stock      
Preferred stock dividends, per share (in usd per share) [1] $ 60.00 $ 60.00 $ 60.00
[1] Refer to Note 24 for further information on dividends declared for preferred stock.
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net Income $ 2,314 $ 2,349 $ 2,446
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 530 515 563
Depreciation, amortization and accretion 495 462 436
Stock-based compensation expense 164 169 165
Provision for (benefit from) deferred income taxes 72 (106) (60)
Securities (gains) losses, net (20) (31) 84
MSR fair value adjustment 77 105 (177)
Net gains on sales of loans and fair value adjustments on loans held for sale (34) (27) (126)
Net gains on disposition and impairment of bank premises and equipment and operating lease equipment (14) (7) (1)
Gain on the TRA associated with Worldpay, Inc. (11) (22) (46)
Proceeds from sales of loans held for sale 4,066 4,938 13,123
Loans originated or purchased for sale, net of repayments (4,301) (4,242) (10,239)
Dividends representing return on equity method investments 44 46 50
Net change in:      
Equity and trading debt securities (3) (128) 70
Other assets (625) 326 646
Accrued taxes, interest and expenses and other liabilities 70 162 (506)
Net Cash Provided by Operating Activities 2,824 4,509 6,428
Proceeds from sales:      
AFS securities and other investments 782 2,813 4,359
Loans and leases 419 444 155
Bank premises and equipment 24 7 2
MSRs 5 0 0
Proceeds from repayments / maturities of AFS and HTM securities and other investments 5,814 4,235 4,495
Purchases:      
AFS securities, equity method investments and other investments (7,129) (6,244) (29,714)
Bank premises and equipment (414) (491) (348)
MSRs 0 (25) (213)
Proceeds from settlement of BOLI 34 14 49
Proceeds from sales and dividends representing return of equity method investments 11 69 87
Net cash received for divestitures 6 0 66
Net cash paid on acquisitions 0 0 (917)
Net change in:      
Other short-term investments 4,962 (13,731) 26,224
Portfolio loans and leases (3,540) 3,358 (8,992)
Operating lease equipment 65 63 (124)
Net Cash Provided by (Used in) Investing Activities 1,039 (9,488) (4,871)
Financing Activities      
Net change in deposits (1,660) 5,222 (5,994)
Net change in federal funds purchased and other short-term borrowings (32) (81) (543)
Proceeds from short-term FHLB advances 4,100 6,750 7,550
Repayment of short-term FHLB advances (2,500) (8,550) (3,250)
Proceeds from long-term debt issuances/advances 3,249 4,286 4,026
Repayment of long-term debt (5,282) (1,657) (1,762)
Dividends paid on common and preferred stock (1,176) (1,060) (927)
Repurchase of treasury stock and related forward contract (625) (200) (100)
Other (65) (55) (85)
Net Cash (Used in) Provided by Financing Activities (3,991) 4,655 (1,085)
(Decrease) Increase in Cash and Due from Banks (128) (324) 472
Cash and Due from Banks at Beginning of Period 3,142 3,466 2,994
Cash and Due from Banks at End of Period $ 3,014 $ 3,142 $ 3,466
v3.25.0.1
Summary of Significant Accounting and Reporting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting and Reporting Policies Summary of Significant Accounting and Reporting Policies
Nature of Operations
Fifth Third Bancorp, an Ohio corporation, conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States as well as through other offices, telephone sales, the internet and mobile applications.

Basis of Presentation
The Consolidated Financial Statements include the accounts of the Bancorp and its majority-owned subsidiaries and VIEs in which the Bancorp has been determined to be the primary beneficiary. Other entities, including certain joint ventures in which the Bancorp has the ability to exercise significant influence over operating and financial policies of the investee, but upon which the Bancorp does not possess control, are accounted for by the equity method and not consolidated. The investments in those entities in which the Bancorp does not have the ability to exercise significant influence are generally carried at fair value unless the investment does not have a readily determinable fair value. The Bancorp accounts for equity investments without a readily determinable fair value using the measurement alternative to fair value, representing the cost of the investment minus any impairment recorded and plus or minus changes resulting from observable price changes in orderly transactions for an identical or a similar investment of the same issuer. Intercompany transactions and balances among consolidated entities have been eliminated.

Certain prior period data has been reclassified to conform to current period presentation. Specifically, certain line items within noninterest income and noninterest expense have been reclassified to better align disclosures to business activities. Within noninterest income, these reclassifications resulted in three new financial statement line items, including commercial payments revenue, consumer banking revenue and capital markets fees. Commercial banking revenue and other noninterest income were also affected by the reclassifications. Within noninterest expense, these reclassifications resulted in the separate disclosure of loan and lease expense, which was previously a component of other noninterest expense. These reclassifications did not impact total noninterest income or total noninterest expense and were applied retrospectively to all prior periods presented.

Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Cash and Due from Banks
Cash and due from banks consist of currency and coin, cash items in the process of collection and due from banks. Currency and coin includes both U.S. and foreign currency owned and held at Fifth Third offices and that is in-transit to the FRB. Cash items in the process of collection include checks and drafts that are drawn on another depository institution or the FRB that are payable immediately upon presentation in the U.S. Balances due from banks include noninterest-bearing balances that are funds on deposit at other depository institutions or the FRB.

Investment Securities
Debt securities are classified as held-to-maturity, available-for-sale or trading on the date of purchase. Only those securities which management has the intent and ability to hold to maturity are classified as held-to-maturity and reported at amortized cost. Debt securities are classified as available-for-sale when, in management’s judgment, they may be sold in response to, or in anticipation of, changes in market conditions. Debt securities are classified as trading typically when bought and held principally for the purpose of selling them in the near term. Trading debt securities are reported at fair value with unrealized gains and losses included in noninterest income. Available-for-sale debt securities are reported at fair value with unrealized gains and losses, net of related deferred income taxes, included in OCI. For available-for-sale debt securities hedged in a fair value hedge, the amortized cost basis of the hedged items (excluding unrealized gains and losses) includes the cumulative fair value hedging basis adjustments. Changes in the fair value of these securities which are attributable to changes in the hedged risk are recognized in earnings instead of OCI. Accrued interest receivable on investment securities is presented in the Consolidated Balance Sheets as a component of other assets.

Available-for-sale debt securities with unrealized losses are reviewed quarterly to determine if the decline in fair value is the result of a credit loss or other factors. An allowance for credit losses is recorded against available-for-sale debt securities to reflect the amount of the unrealized loss attributable to credit; however, this impairment is limited by the amount that the fair value is less than the amortized cost basis. Any remaining unrealized loss is recognized through OCI. Changes in the allowance for credit losses are recognized in earnings.

The determination of whether or not a credit loss exists is based on consideration of the cash flows expected to be collected from the debt security. The Bancorp develops these expectations after considering various factors such as agency ratings, the financial condition of the issuer or underlying obligors, payment history, payment structure of the security, industry and market conditions, underlying collateral and other factors which may be relevant based on the facts and circumstances pertaining to individual securities.
If the Bancorp intends to sell the debt security or will more likely than not be required to sell the debt security before recovery of its amortized cost basis, then the allowance for credit losses, if previously recorded, is written off and the security’s amortized cost is written down to the security’s fair value at the reporting date, with any incremental impairment recorded as a charge to noninterest income.

Held-to-maturity debt securities are assessed periodically to determine if an allowance is necessary to absorb credit losses expected to occur over the remaining contractual life of the securities. The carrying amount of held-to-maturity debt securities is presented net of the allowance for credit losses when such an allowance is deemed necessary.

Debt securities classified as available-for-sale may be transferred to the held-to-maturity classification if the Bancorp determines that it has the positive intent and ability to hold the securities until their maturity. Upon transfer to held-to-maturity, the transferred securities are reported at amortized cost plus or minus the pre-tax amount of the remaining unrealized gains or losses reported in AOCI at the transfer date. The resulting premium or discount is amortized into income over the remaining life of the securities as an adjustment to yield. Any unrealized gains or losses that exist on the date of transfer continue to be reported as a component of AOCI and are amortized into income over the remaining life of the securities as an adjustment to yield, offsetting the amortization of the premium or discount that was recognized at the transfer date. Any allowance for credit losses that was previously recorded when the securities were classified as available-for-sale is reversed into earnings on the date of transfer. After the transfer to held-to-maturity, the securities would be re-assessed for any necessary allowance for credit losses, as previously discussed.

Equity securities with readily determinable fair values not accounted for under the equity method are reported at fair value with unrealized gains and losses included in noninterest income in the Consolidated Statements of Income. Equity securities without readily determinable fair values are measured at cost minus impairment, if any, plus or minus changes as a result of an observable price change for the identical or similar investment of the same issuer. At each quarterly reporting period, the Bancorp performs a qualitative assessment to evaluate whether impairment indicators are present. If qualitative indicators are identified, the investment is measured at fair value with the impairment loss included in noninterest income in the Consolidated Statements of Income.

The fair value of a security is determined based on quoted market prices. If quoted market prices are not available, fair value is determined based on quoted prices of similar instruments.

Premiums on purchased callable debt securities are amortized to the earliest call date if the call feature meets certain criteria. Otherwise, premiums are amortized to maturity similar to discounts on callable debt securities.

Realized securities gains or losses are reported within noninterest income in the Consolidated Statements of Income. The cost of securities sold is based on the specific identification method.

Portfolio Loans and Leases
Basis of accounting
Portfolio loans and leases are generally reported at the principal amount outstanding, net of unearned income, deferred direct loan origination fees and costs and any direct principal charge-offs. Direct loan origination fees and costs are deferred and the net amount is amortized over the contractual life or estimated life, if prepayments are estimated, of the related loans as a yield adjustment. Interest income is recognized based on the principal balance outstanding, computed using the effective interest method.

Loans and leases acquired by the Bancorp through a purchase or a business combination are recorded at fair value as of the acquisition date. Purchased loans and finance leases (including both sales-type leases and direct financing leases) are evaluated for evidence of credit deterioration at acquisition and recorded at their initial fair value. For loans and finance leases acquired in a business combination that do not exhibit evidence of more-than-insignificant credit deterioration since origination, the Bancorp does not carry over the acquired company’s ALLL, but upon acquisition will record an ALLL and provision for credit losses reflective of credit losses expected to be incurred over the remaining contractual life of the acquired loans. Premiums and discounts reflected in the initial fair value are amortized over the contractual life of the loan as an adjustment to yield.

For loans and finance leases that exhibit evidence of more-than-insignificant credit quality deterioration since origination, the Bancorp’s estimate of expected credit losses is added to the ALLL upon acquisition and to the initial purchase price of the loans and leases to determine the initial amortized cost basis for the purchased financial assets with credit deterioration. Any resulting difference between the initial amortized cost basis (as adjusted for expected credit losses) and the par value of the loans and leases at the acquisition date represents the non-credit premium or discount, which is amortized over the contractual life of the loan or lease as an adjustment to yield. This method of accounting for loans acquired with deteriorated credit quality does not apply to loans carried at fair value or loans held for sale.

The Bancorp’s lease portfolio consists of sales-type, direct financing and leveraged leases. Leases are classified as sales-type if the Bancorp transfers control of the underlying asset to the lessee. The Bancorp classifies leases that do not meet any of the criteria for a sales-type lease as a direct financing lease if the present value of the sum of the lease payments and any residual value guaranteed by the lessee and/or any other third party equals or exceeds substantially all of the fair value of the underlying asset and the collection of the lease payments and residual value guarantee is probable. Sales-type and direct financing leases are recorded at the aggregate of lease payments plus estimated
residual value of the leased property, less unearned income. Interest income on sales-type and direct financing leases is recognized over the term of the lease to achieve a constant periodic rate of return on the outstanding investment.

Leveraged leases, entered into before January 1, 2019, are recorded at the aggregate of lease payments (less nonrecourse debt payments) plus estimated residual value of the leased property, less unearned income. Interest income on leveraged leases is recognized over the term of the lease to achieve a constant rate of return on the outstanding investment in the lease, net of the related deferred income tax liability, in the years in which the net investment is positive. Leveraged lease accounting is no longer applied for leases entered into or modified after the Bancorp’s adoption of ASU 2016-02, Leases, on January 1, 2019.

Nonaccrual loans and leases
The Bancorp places loans and leases on nonaccrual status when full repayment of principal and interest is not expected, unless the loan or lease is well-secured and in the process of collection. When a loan is placed on nonaccrual status, the accrual of interest, amortization of loan premium, accretion of loan discount and amortization/accretion of deferred net direct loan origination fees or costs are discontinued and all previously accrued and unpaid interest is reversed against income. The Bancorp utilizes the following policies to determine when full repayment of principal and interest on a loan or lease is not expected:
•Commercial loans are placed on nonaccrual status when there is a clear indication that the borrower’s cash flows may not be sufficient to meet payments as they become due. Commercial loans where the principal or interest has been in default for a period of 90 days or more are generally maintained on nonaccrual status unless the loan is fully or partially guaranteed by a government agency or otherwise considered to be well secured and in the process of collection.
•Residential mortgage loans are placed on nonaccrual status when principal and interest payments become past due 150 days or more, unless repayment of the loan is fully or partially guaranteed by a government agency. Residential mortgage loans may stay on nonaccrual status for an extended time as the foreclosure process typically lasts longer than 180 days. The Bancorp maintains a reserve for the portion of accrued interest receivable that it estimates will be uncollectible, at the portfolio level, for residential mortgage loans which are past due 90 days or more and on accrual status. This reserve is recorded as a component of other assets in the Consolidated Balance Sheets, consistent with the classification of the related accrued interest receivable.
•Home equity loans and lines of credit are placed on nonaccrual status if principal or interest becomes past due 90 days or more. Home equity loans and lines of credit that become past due 60 days or more are also placed on nonaccrual status if the senior lien has been past due 120 days or more.
•Credit card loans that have been modified for a borrower experiencing financial difficulty are placed on nonaccrual status at the time of the modification. Subsequent to the modification, accounts are placed on nonaccrual status when required payments become past due 90 days or more in accordance with the modified terms.
•Indirect secured consumer loans and other consumer loans are generally placed on nonaccrual status when principal or interest becomes past due 90 days or more.
•Loan balances remaining after charge-off on consumer loans subject to a bankruptcy proceeding are generally placed on nonaccrual status within 60 days of verification of the bankruptcy unless the borrower demonstrates willingness to repay the loan through a guaranteed repayment plan or reaffirmation of their obligation to the Bancorp. These loans are also placed on nonaccrual status when principal or interest becomes past due 60 days or more.
•Loans discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower are placed on nonaccrual status and considered collateral-dependent loans at the time of discharge, regardless of the borrower’s payment history or capacity to repay in the future.

Well-secured loans are collateralized by perfected security interests in real and/or personal property for which the Bancorp estimates proceeds from the sale would be sufficient to recover the outstanding principal and accrued interest balance of the loan and pay all costs to sell the collateral. The Bancorp considers a loan in the process of collection if collection efforts or legal action is proceeding and the Bancorp expects to collect funds sufficient to bring the loan current or recover the entire outstanding principal and accrued interest balance in the near future.

Nonaccrual loans and leases may be returned to accrual status when all delinquent principal and interest payments become current in accordance with the loan agreement and the remaining principal and interest payments are reasonably assured of repayment in accordance with the contractual terms of the loan agreement, or when the loan is both well-secured and in the process of collection. Nonaccrual loans that have been modified for a borrower experiencing financial difficulty may not be returned to accrual status unless such loans have sustained repayment performance of six months or more and are reasonably assured of repayment in accordance with the modified terms. Loans discharged in a Chapter 7 bankruptcy may be returned to accrual status twelve months or more after discharge provided there is a sustained payment history after bankruptcy and collectability is reasonably assured for all remaining contractual payments.

Except for loans discharged in a Chapter 7 bankruptcy that are not reaffirmed by the borrower, accruing residential mortgage loans, home equity loans and lines of credit, indirect secured consumer loans and other consumer loans modified for borrowers experiencing financial difficulty are maintained on accrual status, provided there is reasonable assurance of repayment and of performance according to the modified terms based upon a current, well-documented credit evaluation. Accruing commercial loans modified for borrowers experiencing financial difficulty are maintained on accrual status provided there is a sustained payment history of six months or more prior to the modification and collectability is reasonably assured for all remaining contractual payments under the modified terms. Modifications of commercial loans and credit card loans for borrowers experiencing financial difficulty that do not have a sustained payment history of six months or more in accordance with their modified terms remain on nonaccrual status until a six-month payment history is sustained.
Nonaccrual loans and leases are generally accounted for on the cost recovery method due to the existence of doubt as to the collectability of the remaining amortized cost basis of nonaccrual assets. Under the cost recovery method, any payments received are applied to reduce principal. Once the entire amortized cost basis is collected, additional payments received are treated as recoveries of amounts previously charged-off until recovered in full, and any subsequent payments are treated as interest income. In certain circumstances when the remaining amortized cost basis of a nonaccrual loan or lease is deemed to be fully collectible, the Bancorp may utilize the cash basis method to account for interest payments received on a nonaccrual loan or lease. Under the cash basis method, interest income is recognized when cash is received, to the extent such income would have been accrued on the loan’s remaining balance at the contractual rate.

The Bancorp records a charge-off to the ALLL when all or a portion of a loan or lease is deemed to be uncollectible, after considering the net realizable value of any underlying collateral. Commercial loans and leases on nonaccrual status and criticized commercial loans with aggregate borrower relationships exceeding $1 million are subject to an individual review to identify charge-offs. The Bancorp does not have an established delinquency threshold for partially or fully charging off commercial loans and leases. The Bancorp records charge-offs on consumer loans in accordance with applicable regulatory guidelines, which are primarily based on a loan’s delinquency status.

Loan modifications
In circumstances where an existing loan is modified (including a restructuring, refinancing, or other changes in terms which affect the loan’s contractual cash flows), the Bancorp evaluates whether the modification results in a continuation of the existing loan or the origination of a new loan. The Bancorp accounts for a modification as a new loan if the terms of the modified loan are at least as favorable to the Bancorp as the terms for comparable loans to other borrowers with similar collection risks who are obtaining new loans, or if the modification of terms is considered more than minor. If neither of these conditions are met, then the Bancorp will account for the loan as a continuation of the existing loan. When a modification is accounted for as a new loan, any unamortized net deferred fees or costs from the original loan are recognized in interest income when the new loan is originated. When a modification is accounted for as a continuation of the existing loan, the unamortized net deferred fees or costs from the original loan and any additional incremental direct fees and costs are carried forward and deferred as part of the amortized cost basis of the modified loan.

ALLL
The Bancorp disaggregates its portfolio loans and leases into portfolio segments for purposes of determining the ALLL. The Bancorp’s portfolio segments include commercial, residential mortgage and consumer. The Bancorp further disaggregates its portfolio segments into classes for purposes of monitoring and assessing credit quality based on certain risk characteristics. Classes within the commercial portfolio segment are based on the purpose of the loan or lease and include commercial and industrial, commercial mortgage owner-occupied, commercial mortgage nonowner-occupied, commercial construction and commercial leases. The residential mortgage portfolio segment is also considered a class. Classes within the consumer portfolio segment are based on the loan product type and include home equity, indirect secured consumer loans, credit card, solar energy installation loans and other consumer loans. For an analysis of the Bancorp’s ALLL by portfolio segment and credit quality information by class, refer to Note 6.

The Bancorp maintains the ALLL to absorb the amount of credit losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. Contractual terms are adjusted for expected prepayments but are not extended for expected extensions, renewals or modifications except in circumstances where extension or renewal options are embedded in the original contract and not unconditionally cancellable by the Bancorp.

Accrued interest receivable on loans is presented in the Consolidated Financial Statements as a component of other assets. When accrued interest is deemed to be uncollectible (typically when a loan is placed on nonaccrual status), interest income is reversed. The Bancorp follows established policies for placing loans on nonaccrual status, so uncollectible accrued interest receivable is reversed in a timely manner. As a result, the Bancorp has elected not to measure a reserve for accrued interest receivable as part of its ALLL. However, the Bancorp does record a reserve for the portion of accrued interest receivable that it expects to be uncollectible. Refer to the Portfolio Loans and Leases section of this footnote for additional information.

Credit losses are charged and recoveries are credited to the ALLL. The ALLL is maintained at a level the Bancorp considers to be adequate and is based on ongoing quarterly assessments and evaluations of the collectability of loans and leases, including historical credit loss experience, current and forecasted market and economic conditions and consideration of various qualitative factors that, in management’s judgment, deserve consideration in estimating expected credit losses. Provisions for credit losses are recorded for the amounts necessary to adjust the ALLL to the Bancorp’s current estimate of expected credit losses on portfolio loans and leases.

The Bancorp’s methodology for determining the ALLL includes an estimate of expected credit losses on a collective basis for groups of loans and leases with similar risk characteristics and specific allowances for loans and leases which are individually evaluated.

Larger commercial loans and leases included within aggregate borrower relationship balances exceeding $1 million on nonaccrual status are individually evaluated for an ALLL. The Bancorp considers the current value of collateral, credit quality of any guarantees, the guarantor’s liquidity and willingness to cooperate, the loan or lease structure (including modifications, if any) and other factors when determining the amount of the ALLL. Other factors may include the borrower’s susceptibility to risks presented by the forecasted macroeconomic
environment, the industry and geographic region of the borrower, size and financial condition of the borrower, cash flow and leverage of the borrower and the Bancorp’s evaluation of the borrower’s management. When loans and leases are individually evaluated, allowances are determined based on management’s estimate of the borrower’s ability to repay the loan or lease given the availability of collateral and other sources of cash flow, as well as an evaluation of legal options available to the Bancorp. Allowances for individually evaluated loans and leases that are collateral-dependent are measured based on the fair value of the underlying collateral, less expected costs to sell where applicable. Allowances for individually evaluated loans and leases that are not collateral-dependent are typically measured based on the present value of expected cash flows of the loan or lease, discounted at its effective interest rate. Specific allowances on individually evaluated commercial loans and leases are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience.

The Bancorp considers loans to be collateral-dependent when it becomes probable that repayment of the loan will be provided through the sale or operation of the collateral instead of from payments made by the borrower. The expected credit losses for these loans are typically estimated based on the fair value of the underlying collateral, less expected costs to sell where applicable. Specific allowances on individually evaluated consumer and residential mortgage loans are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience.

Expected credit losses are estimated on a collective basis for loans and leases that are not individually evaluated. For collectively evaluated loans and leases, the Bancorp uses models to forecast expected credit losses based on the probability of a loan or lease defaulting, the expected balance at the estimated date of default and the expected loss percentage given a default. The estimate of the expected balance at the time of default considers prepayments and, for loans with available credit, expected utilization rates. The Bancorp’s expected credit loss models were developed based on historical credit loss experience and observations of migration patterns for various credit risk characteristics (such as internal credit risk ratings, external credit ratings or scores, delinquency status, loan-to-value trends, etc.) over time, with those observations evaluated in the context of concurrent macroeconomic conditions. The Bancorp developed its models from historical observations capturing a full economic cycle when possible.

The Bancorp’s expected credit loss models consider historical credit loss experience, current market and economic conditions, and forecasted changes in market and economic conditions if such forecasts are considered reasonable and supportable. Generally, the Bancorp considers its forecasts to be reasonable and supportable for a period of up to three years from the estimation date. For periods beyond the reasonable and supportable forecast period, expected credit losses are estimated by reverting to historical loss information without adjustment for changes in economic conditions. This reversion is phased in over a two-year period. The Bancorp evaluates the length of its reasonable and supportable forecast period, its reversion period and reversion methodology at least annually, or more often if warranted by economic conditions or other circumstances.

The Bancorp also considers qualitative factors in determining the ALLL in order to capture characteristics in the portfolio that impact expected credit losses but are not fully captured within the Bancorp’s expected credit loss models. These may include adjustments for changes in policies or procedures in underwriting, monitoring or collections, lending and risk management personnel and results of internal audit and quality control reviews. These may also include adjustments, when deemed necessary, for specific idiosyncratic risks such as geopolitical events, natural disasters and their effects on regional borrowers, changes in product structures or changes in economic conditions that are not reflected in the quantitative credit loss models. Qualitative factor adjustments may also be used to address the impacts of unforeseen events on key inputs and assumptions within the Bancorp’s expected credit loss models, such as the reasonable and supportable forecast period, changes to historical loss information or changes to the reversion period or methodology.

When evaluating the adequacy of allowances, consideration is also given to regional geographic concentrations and the closely associated effect that changing economic conditions may have on the Bancorp’s customers.

Reserve for Unfunded Commitments
The reserve for unfunded commitments is maintained at a level believed by management to be sufficient to absorb estimated expected credit losses related to unfunded credit facilities and is included in other liabilities in the Consolidated Balance Sheets. The determination of the adequacy of the reserve is based upon expected credit losses over the remaining contractual life of the commitments, taking into consideration the current funded balance and estimated exposure over the reasonable and supportable forecast period. This process takes into consideration the same risk elements that are analyzed in the determination of the adequacy of the Bancorp’s ALLL, as previously discussed. Net adjustments to the reserve for unfunded commitments are included in the provision for credit losses in the Consolidated Statements of Income.

Loans and Leases Held for Sale
Loans and leases held for sale primarily represent conforming fixed-rate residential mortgage loans originated or acquired with the intent to sell in the secondary market and jumbo residential mortgage loans, commercial loans, other residential mortgage loans and other consumer loans that management has the intent to sell. Loans and leases held for sale may be carried at the lower of cost or fair value, or carried at fair value where the Bancorp has elected the fair value option of accounting under U.S. GAAP. The Bancorp has elected to measure certain groups of loans held for sale under the fair value option, including certain residential mortgage loans originated as held for sale and certain
purchased commercial loans designated as held for sale at acquisition. For loans in which the Bancorp has not elected the fair value option, the lower of cost or fair value is determined at the individual loan level.

The fair value of residential mortgage loans held for sale for which the fair value election has been made is estimated based upon mortgage-backed securities prices and spreads to those prices or, for certain ARM loans, DCF models that may incorporate the anticipated portfolio composition, credit spreads of asset-backed securities with similar collateral and market conditions. The anticipated portfolio composition includes the effects of interest rate spreads and discount rates due to loan characteristics such as the state in which the loan was originated, the loan amount and the ARM margin. These fair value marks are recorded as a component of noninterest income in mortgage banking net revenue in the Consolidated Statements of Income. For residential mortgage loans that it has originated as held for sale, the Bancorp generally has commitments to sell these loans in the secondary market. Gains or losses on sales are recognized in mortgage banking net revenue in the Consolidated Statements of Income.

Management’s intent to sell residential mortgage loans classified as held for sale may change over time due to such factors as changes in the overall liquidity in markets or changes in characteristics specific to certain loans held for sale. Consequently, these loans may be reclassified to loans held for investment and, thereafter, reported within the Bancorp’s residential mortgage class of portfolio loans and leases. In such cases, if the fair value option was elected, the residential mortgage loans will continue to be measured at fair value, which is based on mortgage-backed securities prices, interest rate risk and an internally developed credit component.

Loans and leases held for sale are placed on nonaccrual status consistent with the Bancorp’s nonaccrual policies for portfolio loans and leases.

Loan Sales and Securitizations
The Bancorp periodically sells loans through either securitizations or individual loan sales in accordance with its investment policies. The sold loans are removed from the Consolidated Balance Sheet and a net gain or loss is recognized in the Consolidated Financial Statements at the time of sale. The Bancorp typically isolates the loans through the use of a VIE and thus is required to assess whether the entity holding the sold or securitized loans is a VIE and whether the Bancorp is the primary beneficiary and therefore consolidator of that VIE. If the Bancorp holds the power to direct activities most significant to the economic performance of the VIE and has the obligation to absorb losses or right to receive benefits that could potentially be significant to the VIE, then the Bancorp will generally be deemed the primary beneficiary of the VIE. If the Bancorp is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under the equity method of accounting or other accounting standards as appropriate. Refer to Note 12 for further information on consolidated and non-consolidated VIEs.

The Bancorp’s loan sales and securitizations are generally structured with servicing retained, which often results in the recording of servicing rights. The Bancorp may also purchase servicing rights. The Bancorp has elected to measure all existing classes of its residential mortgage servicing rights portfolio at fair value with changes in the fair value of servicing rights reported in mortgage banking net revenue in the Consolidated Statements of Income in the period in which the changes occur.

Servicing rights are valued using internal OAS models. Key economic assumptions used in estimating the fair value of the servicing rights include the prepayment speeds of the underlying loans, the weighted-average life, the OAS and the weighted-average coupon rate, as applicable. The primary risk of material changes to the value of the servicing rights resides in the potential volatility in the economic assumptions used, particularly the prepayment speeds. In order to assist in the assessment of the fair value of servicing rights, the Bancorp obtains external valuations of the servicing rights portfolio from third parties and participates in peer surveys that provide additional confirmation of the reasonableness of the key assumptions utilized in the internal OAS model.

Fees received for servicing loans owned by investors are based on a percentage of the outstanding monthly principal balance of such loans and are included in noninterest income in the Consolidated Statements of Income as loan payments are received. Costs of servicing loans are charged to expense as incurred.

Reserve for Representation and Warranty Provisions
Conforming residential mortgage loans sold to unrelated third parties are generally sold with representation and warranty provisions. A contractual liability arises only in the event of a breach of these representations and warranties and, in general, only when a loss results from the breach. The Bancorp may be required to repurchase any previously sold loan or indemnify (make whole) the investor or insurer for which the representation or warranty of the Bancorp proves to be inaccurate, incomplete or misleading. The Bancorp establishes a residential mortgage repurchase reserve related to various representations and warranties that reflects management’s estimate of losses based on a combination of factors.

The Bancorp’s estimation process requires management to make subjective and complex judgments about matters that are inherently uncertain, such as future demand expectations, economic factors and the specific characteristics of the loans subject to repurchase. Such factors incorporate historical investor audit and repurchase demand rates, appeals success rates, historical loss severity and any additional information obtained from the GSEs regarding future mortgage repurchase and file request criteria. At the time of a loan sale, the Bancorp records a representation and warranty reserve at the estimated fair value of the Bancorp’s guarantee and continually updates the reserve
during the life of the loan as losses in excess of the reserve become probable and reasonably estimable. The provision for the estimated fair value of the representation and warranty guarantee arising from the loan sales is recorded as an adjustment to the gain on sale, which is included in other noninterest income in the Consolidated Statements of Income at the time of sale. Updates to the reserve are recorded in other noninterest expense in the Consolidated Statements of Income.

Bank Premises and Equipment and Other Long-Lived Assets
Bank premises and equipment, including leasehold improvements, and operating lease equipment are carried at cost less accumulated depreciation and accumulated amortization. Generally, depreciation is calculated using the straight-line method based on estimated useful lives of the assets for book purposes, while accelerated depreciation is used for income tax purposes. Amortization of leasehold improvements is generally computed using the straight-line method over the lives of the related leases or useful lives of the related assets, whichever is shorter. Whenever events or changes in circumstances dictate, the Bancorp tests its long-lived assets for impairment by determining whether the sum of the estimated undiscounted future cash flows attributable to a long-lived asset or asset group is less than the carrying amount of the long-lived asset or asset group through a probability-weighted approach. In the event the carrying amount of the long-lived asset or asset group is not recoverable, an impairment loss is measured as the amount by which the carrying amount of the long-lived asset or asset group exceeds its fair value. Maintenance, repairs and minor improvements are charged to noninterest expense in the Consolidated Statements of Income as incurred. Lease payments received for operating lease equipment are recognized in commercial banking revenue in the Consolidated Statements of Income over the lease term on a straight-line basis unless another systematic and rational basis is more representative of the pattern in which benefit is expected to be derived from use of the underlying equipment.

Lessee Accounting
ROU assets and lease liabilities are recognized for all leases unless the initial term of the lease is twelve months or less. Lease costs for operating leases are recognized on a straight-line basis over the lease term unless another systematic basis is more representative of the pattern of consumption. The lease term includes any renewal period that the Bancorp is reasonably certain to exercise. The Bancorp uses its incremental borrowing rate to discount the lease payments if the rate implicit in the lease is not readily determinable. Variable lease payments associated with operating leases are recognized in the period in which the obligation for payments is incurred.

For finance leases, the lease liability is measured using the effective interest method such that the liability is increased for interest based on the discount rate that is implicit in the lease or the Bancorp’s incremental borrowing rate if the implicit rate cannot be readily determined, offset by a decrease in the liability resulting from the periodic lease payments. The ROU asset associated with the finance lease is amortized on a straight-line basis unless there is another systematic and rational basis that better reflects how the benefits of the underlying assets are consumed over the lease term. The period over which the ROU asset is amortized is generally the lesser of the remaining lease term or the remaining useful life of the leased asset. Variable lease payments associated with finance leases are recognized in the period in which the obligation for those payments is incurred.

When the lease liability is remeasured to reflect changes to the lease payments as a result of a lease modification, the ROU asset is adjusted for the amount of the lease liability remeasurement. If a lease modification reduces the scope of a lease, the ROU asset would be reduced proportionately based on the change in the lease liability and the difference between the lease liability adjustment and the resulting ROU asset adjustment would be recognized as a gain or loss in the Consolidated Statements of Income. Additionally, the amortization of the ROU asset is adjusted prospectively from the date of remeasurement.

The Bancorp performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. Any impairment loss is recognized in net occupancy expense in the Consolidated Statements of Income. Refer to the Bank Premises and Equipment and Other Long-Lived Assets section of this note for further information.

Goodwill
Business combinations entered into by the Bancorp typically include the recognition of goodwill. U.S. GAAP requires goodwill to be tested for impairment at the reporting unit level on an annual basis and more frequently if events or circumstances indicate that there may be impairment. Historically, the Bancorp’s annual goodwill impairment test was performed as of September 30 of each year. However, in 2024, the testing was performed as of September 30 and again as of October 1 to reflect the change in date in which the Bancorp will perform its annual goodwill impairment testing in future periods. The Bancorp does not consider this change to be material, and the change in assessment date did not delay, accelerate, or avoid a potential impairment charge. The new testing date is in close proximity to the previous assessment date and the testing methods and valuation inputs were not significantly affected by the change, resulting in consistent conclusions.

Impairment exists when a reporting unit’s carrying amount of goodwill exceeds its implied fair value. In testing goodwill for impairment, U.S. GAAP permits the Bancorp to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. In this qualitative assessment, the Bancorp evaluates events and circumstances which may include, but are not limited to, the general economic environment, banking industry and market conditions, the overall financial performance of the Bancorp, the performance of the Bancorp’s common stock, the key financial performance metrics of the Bancorp’s reporting units and events affecting the reporting units to determine if it is not more likely than not that the fair value of a reporting unit is less than its carrying amount. If the quantitative impairment test is required or the decision to bypass the qualitative assessment is elected, the Bancorp performs the goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying
amount of the reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. A recognized impairment loss cannot be reversed in future periods even if the fair value of the reporting unit subsequently recovers.

The fair value of a reporting unit is the price that would be received to sell the unit as a whole in an orderly transaction between market participants at the measurement date. As none of the Bancorp’s reporting units are publicly traded, individual reporting unit fair value determinations cannot be directly correlated to the Bancorp’s stock price. The determination of the fair value of a reporting unit is a subjective process that involves the use of estimates and judgments, particularly related to cash flows, the appropriate discount rates and an applicable control premium. The determination of the fair value of the Bancorp’s reporting units includes both an income-based approach and a market-based approach. The income-based approach utilizes the reporting unit’s forecasted cash flows (including a terminal value approach to estimate cash flows beyond the final year of the forecast) and the reporting unit’s estimated cost of equity as the discount rate. Significant management judgment is necessary in the preparation of each reporting unit’s forecasted cash flows surrounding expectations for earnings projections, growth and credit loss expectations and actual results may differ from forecasted results. Additionally, the Bancorp determines its market capitalization based on the average of the closing price of the Bancorp’s stock during the period beginning September 1 and ending on the measurement date, incorporating an additional control premium, and compares this market-based fair value measurement to the aggregate fair value of the Bancorp’s reporting units in order to corroborate the results of the income approach. Refer to Note 10 for further information regarding the Bancorp’s goodwill.

Tax Credit Investments
The Bancorp invests in projects to create affordable housing and revitalize business and residential areas. These investments are classified as other assets on the Bancorp’s Consolidated Balance Sheets. Investments in projects that qualify for Low-Income Housing Tax Credits, New Markets Tax Credits and Rehabilitation Investment Tax Credits are accounted for using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other benefits received and recognized as a component of applicable income tax expense in the Consolidated Statements of Income. Investments which do not meet the qualification criteria for the proportional amortization method are accounted for using the equity method of accounting with impairment associated with the investments recognized in other noninterest expense in the Consolidated Statements of Income.

Derivative Financial Instruments and Hedge Accounting
The Bancorp accounts for its derivatives as either assets or liabilities measured at fair value through adjustments to AOCI and/or current earnings, as appropriate. The related cash flows are classified as operating activities in the Consolidated Statements of Cash Flows. On the date the Bancorp enters into a derivative contract, the Bancorp designates the derivative instrument as either a fair value hedge, cash flow hedge or as a free-standing derivative instrument. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability attributable to the hedged risk are recorded in current period net income. For a cash flow hedge, changes in the fair value of the derivative instrument are recorded in AOCI and subsequently reclassified to net income in the same period(s) that the hedged transaction impacts net income. For free-standing derivative instruments, changes in fair values are reported in current period net income.

When entering into a hedge transaction, the Bancorp formally documents the relationship between the hedging instrument and the hedged item, as well as the risk management objective and strategy for undertaking the hedge transaction before the end of the quarter in which the transaction is consummated. This process includes linking the derivative instrument designated as a fair value or cash flow hedge to a specific asset or liability on the balance sheet or to specific forecasted transactions and the risk being hedged, along with a formal assessment at the inception of the hedge as to the effectiveness of the derivative instrument in offsetting changes in fair values or cash flows of the hedged item. The Bancorp continues to assess hedge effectiveness on an ongoing basis using either a qualitative or a quantitative assessment (regression analysis). Additionally, the Bancorp may also utilize the shortcut method to evaluate hedge effectiveness for certain qualifying hedges with matched terms that permit the assumption of perfect offset. If the shortcut method is no longer appropriate, the Bancorp would apply the long-haul method identified at inception of the hedging transaction for assessing hedge effectiveness as long as the hedge is highly effective. If it is determined that the derivative instrument is not highly effective as a hedge, hedge accounting is discontinued. For fair value hedges, if hedge accounting is discontinued, the cumulative basis adjustments related to the hedged asset or liability are amortized to earnings in the same manner as other components of the carrying amount of that asset or liability. For cash flow hedges, upon discontinuation of hedge accounting, any amounts in AOCI related to that relationship should affect earnings at the same time and in the same manner in which the hedged transaction affects earnings. However, if it becomes probable that the forecasted transaction will not occur, any related amounts in AOCI are reclassified to earnings immediately.

Other Real Estate Owned
OREO, which is included in other assets in the Consolidated Balance Sheets, represents property acquired through foreclosure or other proceedings and branch-related real estate no longer intended to be used for banking purposes. OREO is carried at the lower of cost or fair value, less costs to sell. All OREO property is periodically evaluated for impairment and decreases in carrying value are recognized as reductions in other noninterest income in the Consolidated Statements of Income. For government-guaranteed mortgage loans, upon foreclosure, a separate other receivable is recognized if certain conditions are met for the amount of the loan balance (principal and interest)
expected to be recovered from the guarantor. This receivable is also included in other assets, separate from OREO, in the Consolidated Balance Sheets.

Deposits
Deposits generally include the unpaid balance of cash or its equivalent received or held by the Bank for its commercial and consumer customers. Deposits are classified as either transactional or non-transactional and include both interest-bearing and noninterest-bearing balances. Interest expense incurred on interest-bearing deposits is recognized in accordance with applicable guidance in U.S. GAAP for these liabilities and includes certain ongoing deposit placement fees paid on custodial accounts.

Legal Contingencies
The Bancorp and its subsidiaries are parties to numerous claims and lawsuits as well as threatened or potential actions or claims concerning matters arising from the conduct of its business activities. The outcome of claims or litigation and the timing of ultimate resolution are inherently difficult to predict and significant judgment may be required in the determination of both the probability of loss and whether the amount of the loss is reasonably estimable. The Bancorp’s estimates are subjective and are based on the status of legal and regulatory proceedings, the merit of the Bancorp’s defenses and consultation with internal and external legal counsel. An accrual for a potential litigation loss is established when information related to the loss contingency indicates both that a loss is probable and that the amount of loss can be reasonably estimated. This accrual is included in other liabilities in the Consolidated Balance Sheets and is adjusted from time to time as appropriate to reflect changes in circumstances. Legal expenses are recorded in other noninterest expense in the Consolidated Statements of Income.

Income Taxes
The Bancorp accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for expected future tax consequences. Under the asset and liability method, deferred tax assets and liabilities are determined by applying the federal and state tax rates to the differences between financial statement carrying amounts and the corresponding tax bases of assets and liabilities. Deferred tax assets are also recorded for any tax attributes, such as tax credits and net operating loss carryforwards. The net balances of deferred tax assets and liabilities are reported in other assets and accrued taxes, interest and expenses in the Consolidated Balance Sheets. Any effect of a change in federal or state tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date. The Bancorp reflects the expected amount of income tax to be paid or refunded during the year as current income tax expense or benefit. Accrued taxes represent the net expected amount due to and/or from taxing jurisdictions and are reported in accrued taxes, interest and expenses in the Consolidated Balance Sheets. The Bancorp uses the deferral method of accounting on investments that generate investment tax credits. Under this method, the investment tax credits are recognized as a reduction to the related asset.

The Bancorp evaluates the realization of deferred tax assets based on all positive and negative evidence available at the balance sheet date. Realization of deferred tax assets is based on the Bancorp’s judgment about relevant factors affecting their realization, including the taxable income within any applicable carry back periods, future projected taxable income, the reversal of taxable temporary differences and tax planning strategies. The Bancorp records a valuation allowance for deferred tax assets where the Bancorp does not believe that it is more likely than not that the deferred tax assets will be realized.

Income tax benefits from uncertain tax positions are recognized in the financial statements only if the Bancorp believes that it is more likely than not that the uncertain tax position will be sustained based solely on the technical merits of the tax position and consideration of the relevant taxing authority’s widely understood administrative practices and precedents. If the Bancorp does not believe that it is more likely than not that an uncertain tax position will be sustained, the Bancorp records a liability for the uncertain tax position. If the Bancorp believes that it is more likely than not that an uncertain tax position will be sustained, the Bancorp only records a tax benefit for the portion of the uncertain tax position where the likelihood of realization is greater than 50% upon settlement with the relevant taxing authority that has full knowledge of all relevant information. The Bancorp recognizes interest expense, interest income and penalties related to unrecognized tax benefits within applicable income tax expense in the Consolidated Statements of Income. Refer to Note 21 for further discussion regarding income taxes.

Fair Value Measurements
The Bancorp measures certain financial assets and liabilities at fair value in accordance with U.S. GAAP, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Bancorp employs various valuation approaches to measure fair value including the market, income and cost approaches. The market approach uses prices or relevant information generated by market transactions involving identical or comparable assets or liabilities. The income approach involves discounting future amounts to a single present amount and is based on current market expectations about those future amounts. The cost approach is based on the amount that currently would be required to replace the service capacity of the asset.

U.S. GAAP establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). A financial instrument’s categorization within the fair value hierarchy is based upon the
lowest level of input that is significant to the instrument’s fair value measurement. The three levels within the fair value hierarchy are described as follows:

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Bancorp has the ability to access at the measurement date.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 – Unobservable inputs for the asset or liability for which there is little, if any, market activity at the measurement date. Unobservable inputs reflect the Bancorp’s own assumptions about what market participants would use to price the asset or liability. The inputs are developed based on the best information available in the circumstances, which might include the Bancorp’s own financial data such as internally developed pricing models and DCF methodologies, as well as instruments for which the fair value determination requires significant management judgment.

The Bancorp’s fair value measurements involve various valuation techniques and models, which involve inputs that are observable, when available. Valuation techniques and parameters used for measuring assets and liabilities are reviewed and validated by the Bancorp on a quarterly basis. Additionally, the Bancorp monitors the fair values of significant assets and liabilities using a variety of methods including the evaluation of pricing runs and exception reports based on certain analytical criteria, comparison to previous trades and overall review and assessments for reasonableness. The Bancorp may, as a practical expedient, measure the fair value of certain investments on the basis of the net asset value per share of the investment, or its equivalent. Any investments which are valued using this practical expedient are not classified in the fair value hierarchy. Refer to Note 28 for further information on fair value measurements.

Revenue Recognition
The Bancorp’s interest income is derived from loans and leases, investment securities and other short-term investments. The Bancorp recognizes interest income in accordance with the applicable guidance in U.S. GAAP for these assets. Refer to the Portfolio Loans and Leases and Investment Securities sections of this footnote for further information.

The Bancorp generally measures noninterest income revenue based on the amount of consideration the Bancorp expects to be entitled for the transfer of goods or services to a customer, then recognizes this revenue when or as the Bancorp satisfies its performance obligations under the contract, except in transactions where U.S. GAAP provides other applicable guidance. When the amount of consideration is variable, the Bancorp will only recognize revenue to the extent that it is probable that the cumulative amount recognized will not be subject to a significant reversal in the future. Substantially all of the Bancorp’s contracts with customers have expected durations of one year or less and payments are typically due when or as the services are rendered or shortly thereafter. When third parties are involved in providing goods or services to customers, the Bancorp recognizes revenue on a gross basis when it has control over those goods or services prior to transfer to the customer; otherwise, revenue is recognized for the net amount of any fee or commission. The Bancorp excludes sales taxes from the recognition of revenue and recognizes the incremental costs of obtaining contracts as an expense if the period of amortization for those costs would be one year or less. The following provides additional information about the components of noninterest income:
•Wealth and asset management revenue consists primarily of service fees for investment management, custody, and trust administration services provided to commercial and consumer clients. The Bancorp’s performance obligations for these services are generally satisfied over time and revenues are recognized monthly based on the fee structure outlined in individual contracts. Transaction prices are most commonly based on the market value of assets under management or care and/or a fee per transaction processed. The Bancorp also offers certain services for which the performance obligations are satisfied and revenue is recognized at a point in time, when the services are performed. Wealth and asset management revenue also includes trailing commissions received from investments and annuities held in customer accounts, which are recognized in revenue when the Bancorp determines that it has satisfied its performance obligations and has sufficient information to estimate the amount of the commissions to which it expects to be entitled.
•Commercial payments revenue consists primarily of treasury management fees for commercial clients, monthly service charges on commercial deposit accounts and revenue related to commercial cards associated with commercial client relationships. The Bancorp’s treasury management fees include revenues for traditional treasury management services as well as embedded payments services. Monthly service charges are typically collected from customers directly from the related deposit account at the time the transaction is processed and/or at the end of the customer’s statement cycle (typically monthly). Commercial card revenue includes interchange fees earned when commercial cards are processed through card association networks, revenue derived from the Bancorp’s relationships with card processors and transaction-based fees charged directly to commercial clients. The performance obligations for treasury management fees and service charges on deposits are typically satisfied over time while performance obligations for transaction-based fees are typically satisfied at a point in time when the transactions generating the fees are processed. Revenues are recognized on an accrual basis when or as the services are provided to the customer, net of applicable discounts, waivers, reversals, and costs not controlled by the Bancorp (primarily interchange fees charged by credit card associations and expenses of certain transaction-based rewards programs offered to customers).
•Consumer banking revenue consists primarily of interchange fees earned when the Bancorp’s consumer credit and debit cards are processed through card association networks, monthly service charges on consumer deposit accounts and other deposit account-related charges, transaction-based fees (such as late fees, overdraft fees and wire transfer fees) for consumer loans and deposits, and fees related to ancillary services provided to consumers. The Bancorp’s performance obligations for transaction-based fees are typically satisfied at a point in time when the transactions generating the fees are processed while performance obligations for consumer deposit account service charges are typically satisfied over time. Revenues are recognized on an accrual basis when or as the services are provided to the customer, net of applicable discounts, waivers, reversals, and certain costs not controlled by the Bancorp (primarily interchange fees charged by credit card associations and expenses of certain transaction-based rewards programs offered to customers). Revenue related to consumer loans is recognized in accordance with the Bancorp’s policies for portfolio loans and leases.
•Capital markets fees consist primarily of underwriting revenue recognized by the Bancorp’s broker-dealer subsidiary, syndication fees for commercial loans, merger and acquisition advisory fees and income earned related to financial risk management services provided to commercial clients. Underwriting revenue is generally recognized on the trade date, which is when the Bancorp’s performance obligations are satisfied. Syndication fees are recognized in income when the syndication is complete unless a portion of the loan is retained in the transaction, in which case the Bancorp’s policies for portfolio loans and leases would apply. Merger and acquisition advisory fees are recognized in income at a point in time when the transactions generating the fees are completed. Income from financial risk management services is primarily related to customer accommodation derivatives and is recognized in accordance with the Bancorp’s policies for derivative financial instruments.
•Commercial banking revenue consists primarily of service fees and other income related to lending activity to commercial clients and leasing business revenue, which includes operating lease income, lease remarketing fees and lease syndication fees. Revenue related to loans and leases is recognized in accordance with either the Bancorp’s policies for portfolio loans and leases or when the Bancorp’s performance obligations are satisfied.
•Mortgage banking net revenue consists primarily of origination fees and gains on loan sales, mortgage servicing fees and the impact of MSRs. Refer to the Loans and Leases Held for Sale and Loan Sales and Securitizations sections of this footnote for further information.
•Other noninterest income primarily includes BOLI income, private equity income, gains and losses on other assets and other miscellaneous revenues and gains.

Earnings Per Share
Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Earnings per diluted share is computed by dividing adjusted net income available to common shareholders by the weighted-average number of shares of common stock outstanding, adjusted for the impact of potentially dilutive common shares arising from the exercise or settlement of stock-based awards and the settlement of outstanding forward contracts.

The Bancorp calculates earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share separately for common stock and participating securities according to dividends declared and participation rights in undistributed earnings. For purposes of calculating earnings per share under the two-class method, restricted shares that contain nonforfeitable rights to dividends are considered participating securities until vested. While the dividends declared per share on such restricted shares are the same as dividends declared per common share outstanding, the dividends recognized on such restricted shares may be less because dividends paid on restricted shares that are expected to be forfeited are reclassified to compensation expense during the period when forfeiture is expected.

Pension Plans
The Bancorp uses an expected long-term rate of return applied to the fair market value of assets as of the beginning of the year and the expected cash flow during the year for calculating the expected investment return on all pension plan assets. Amortization of the net gain or loss resulting from experience different from that assumed and from changes in assumptions (excluding asset gains and losses not yet reflected in market-related value) is included as a component of net periodic benefit cost. If, as of the beginning of the year, that net gain or loss exceeds 10% of the greater of the projected benefit obligation and the market-related value of plan assets, the amortization is that excess divided by the average remaining service period of participating employees expected to receive benefits under the plan. The Bancorp uses a third-party actuary to compute the remaining service period of participating employees. This period reflects expected turnover, pre-retirement mortality and other applicable employee demographics.

Stock-Based Compensation
The Bancorp recognizes compensation expense for the grant-date fair value of stock-based awards that are expected to vest over the requisite service period. All awards, both those with cliff vesting and graded vesting, are expensed on a straight-line basis over the requisite service period. Awards to employees that meet eligible retirement status are expensed immediately. As compensation expense is recognized, a deferred tax asset is recorded that represents an estimate of the future tax deduction from exercise or release of restrictions. At the time awards are exercised, cancelled, expire or restrictions are released, the Bancorp recognizes an adjustment to income tax expense for the difference between the previously estimated tax deduction and the actual tax deduction realized. For further information on the Bancorp’s stock-based compensation plans, refer to Note 25.
Other
Securities and other property held in a trust or fiduciary capacity by divisions of the Bancorp’s banking subsidiary are not included in the Consolidated Balance Sheets because such items are not assets of the subsidiaries.

Other short-term investments have original maturities less than one year and primarily include interest-bearing balances that are funds on deposit at other depository institutions or the FRB. The Bancorp uses other short-term investments as part of its liquidity risk management activities.

The Bancorp purchases life insurance policies on the lives of certain directors, officers and employees and is the owner and beneficiary of the policies. The Bancorp invests in these policies, known as BOLI, to provide an efficient form of funding for long-term retirement and other employee benefits costs. Certain BOLI policies have a stable value agreement through either a large, well-rated bank or multi-national insurance carrier that provides limited cash surrender value protection from declines in the value of each policy’s underlying investments. The Bancorp records these BOLI policies within other assets in the Consolidated Balance Sheets at each policy’s respective cash surrender value, with changes recorded in other noninterest income in the Consolidated Statements of Income.

Intangible assets are amortized on either a straight-line or an accelerated basis over their estimated useful lives and, based on the type of intangible asset, the amortization expense may be recorded in either commercial banking revenue or other noninterest expense in the Consolidated Statements of Income. The Bancorp reviews intangible assets for impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable.

Securities sold under repurchase agreements are accounted for as secured borrowings and included in other short-term borrowings in the Consolidated Balance Sheets at the amounts at which the securities were sold plus accrued interest.

Acquisitions of treasury stock are carried at cost and are subject to a non-deductible excise tax of 1% of the net fair market value of stock repurchased during a given tax year. The amount of taxable repurchases is reduced by the fair market value of stock which is issued within the same tax year, including stock issued as part of stock-based compensation plans. The Bancorp accounts for this excise tax as a cost of acquiring treasury stock and includes the estimated incremental tax liability associated with individual share repurchase transactions as part of the cost basis of the shares repurchased. Reissuance of shares in treasury for acquisitions, exercises of stock-based awards or other corporate purposes is recorded based on the specific identification method.

Advertising costs are generally expensed as incurred.

ACCOUNTING AND REPORTING DEVELOPMENTS
Standards Adopted in 2024
The Bancorp adopted the following new accounting standards effective January 1, 2024:

ASU 2022-03 – Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
In June 2022, the FASB issued ASU 2022-03, which clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to contractual sale restrictions, stating that such restrictions are not considered part of the unit of account of the security and therefore are not considered in measuring fair value. The amended guidance also requires disclosure of the fair value of equity securities subject to contractual sale restrictions and certain additional information about those restrictions. The Bancorp adopted the amended guidance on January 1, 2024 on a prospective basis. The adoption did not have a material impact on the Bancorp’s Consolidated Financial Statements.

ASU 2023-02 – Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method
In March 2023, the FASB issued ASU 2023-02, which expands the permitted usage of the proportional amortization method to include additional tax credit investment programs beyond qualifying LIHTC structures if certain conditions are met. The amended guidance permits entities to make elections to apply the proportional amortization method on a program-by-program basis for qualifying programs and also makes certain amendments to measurement and disclosure guidance. The amended disclosure guidance applies to all investments within programs where the proportional amortization method has been elected, including investments within those programs which do not meet the criteria to permit application of the proportional amortization method. The Bancorp adopted the amended guidance on January 1, 2024 on a modified retrospective basis, except for certain provisions which the Bancorp adopted on a prospective basis, as permitted. Upon adoption, the Bancorp recorded a cumulative-effect adjustment to decrease retained earnings by $10 million, net of tax.

ASU 2023-07 – Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
In November 2023, the FASB issued ASU 2023-07, which amends the disclosure requirements for reportable segments. The amendments include new requirements to disclose certain significant segment expenses and other items, the title and position of the chief operating decision maker and information about how the reported measures of segment profit or loss are used in assessing segment performance. The amendments also make certain annual disclosure requirements applicable to interim periods and permit the reporting of multiple measures of segment profit or loss if appropriate. The Bancorp implemented the amended guidance on a retrospective basis beginning with this Annual
Report on Form 10-K for the year ended December 31, 2024 and will also apply the amended guidance to interim reporting periods beginning in 2025. The amended disclosures are presented in Note 31.

Significant Accounting Standards Issued but Not Yet Adopted
The following significant accounting standards were issued but not yet adopted by the Bancorp as of December 31, 2024:

ASU 2023-09 – Income Taxes (Topic 740): Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU 2023-09, which amends the disclosure requirements for income taxes. The amendments primarily include new requirements to disclose additional information as part of the reconciliation of the effective tax rate to statutory tax rates, provide the amount of income taxes paid, net of refunds received, and income tax expense disaggregated between federal, state and foreign jurisdictions and provide income before income taxes disaggregated between domestic and foreign jurisdictions. The amendments also discontinue certain other disclosure requirements. The Bancorp adopted the amended guidance on January 1, 2025 on a prospective basis and will provide the amended disclosures within its Annual Report on Form 10-K for the year ended December 31, 2025.

ASU 2024-03 – Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03, which introduces new requirements to disclose additional information about certain types of expenses, including employee compensation, depreciation, intangible asset amortization and selling expenses. The amended guidance is effective for the Bancorp for the year ending December 31, 2027 and subsequent interim reporting periods beginning in 2028, with early adoption permitted, and is to be applied prospectively, with retrospective application permitted. The Bancorp is in the process of evaluating the impact of the amended guidance on its Consolidated Financial Statements
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Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2024
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]  
Supplemental Cash Flow Information Supplemental Cash Flow Information
Cash payments related to interest and income taxes in addition to non-cash investing and financing activities are presented in the following table for the years ended December 31:
($ in millions)202420232022
Cash Payments:
Interest$4,871 3,776 869 
Income taxes195 655 272 
Transfers:
Portfolio loans and leases to loans and leases held for sale$422 513 105 
Loans and leases held for sale to portfolio loans and leases4 6 409 
Portfolio loans and leases to OREO23 12 8 
Bank premises and equipment to OREO9 30 24 
Available-for-sale debt securities to held-to-maturity securities(a)
11,593 — — 
Supplemental Disclosures:
Net additions to lease liabilities under operating leases
$74 72 152 
Net additions (reductions) to lease liabilities under finance leases44 (6)27 
(a)Represents the fair value of the securities on the date of transfer. Refer to Note 4 for additional information.
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Restrictions on Dividends and Capital Actions
 12 Months Ended
Dec. 31, 2024
Cash and Cash Equivalents [Abstract]  
Restrictions on Dividends and Capital Actions Restrictions on Dividends and Capital Actions
Restrictions on Cash Dividends
The principal source of income and funds for the Bancorp (parent company) are dividends from its subsidiaries. The dividends paid by the Bancorp’s banking subsidiary are subject to regulations and limitations prescribed by state and federal supervisory agencies. The Bancorp’s indirect banking subsidiary paid the Bancorp’s direct nonbank subsidiary holding company, which in turn paid the Bancorp, $1.8 billion in dividends during both the years ended December 31, 2024 and 2023. The Bancorp’s nonbank subsidiaries are also limited by certain federal and state statutory provisions and regulations covering the amount of dividends that may be paid in any given year.

Capital Actions
The Bancorp is subject to restrictions on its capital actions, primarily as a result of supervisory policies set by the FRB. The Bancorp is required to develop and maintain a capital plan that governs its capacity to pay dividends and execute share repurchases and this plan is required to be submitted to the FRB periodically. As part of its capital plan, the Bancorp increased its quarterly common stock dividend to $0.37 per share in the third quarter of 2024. Additionally, the Bancorp entered into and settled accelerated share repurchase transactions during the year ended December 31, 2024. For more information related to these transactions, refer to Note 24.
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Investment Securities
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment Securities
The Bancorp uses investment securities as a means of managing interest rate risk, providing collateral for pledging purposes and for liquidity risk management. The Bancorp may also utilize investment securities as part of a non-qualifying hedging strategy to manage interest rate risk related to MSRs.

The following tables provide the amortized cost, unrealized gains and losses and fair value for the major categories of the available-for-sale debt and other securities and held-to-maturity securities portfolios as of December 31:
2024
($ in millions)Amortized CostUnrealized GainsUnrealized LossesFair
Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,358 2 — 4,360 
Obligations of states and political subdivisions securities— — — — 
Mortgage-backed securities:
Agency residential mortgage-backed securities6,460 — (779)5,681 
Agency commercial mortgage-backed securities23,853 1 (3,022)20,832 
Non-agency commercial mortgage-backed securities4,505 — (338)4,167 
Asset-backed securities and other debt securities3,924 3 (198)3,729 
Other securities(a)
778 — — 778 
Total available-for-sale debt and other securities$43,878 6 (4,337)39,547 
Held-to-maturity securities:(b)
U.S. Treasury and federal agencies securities$2,370 — (26)2,344 
Mortgage-backed securities:
Agency residential mortgage-backed securities4,898 — (197)4,701 
Agency commercial mortgage-backed securities4,008 — (90)3,918 
Asset-backed securities and other debt securities2 — — 2 
Total held-to-maturity securities$11,278 — (313)10,965 
(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $276, $500 and $2, respectively, at December 31, 2024, that are carried at cost.
(b)The amortized cost basis includes a discount of $865 at December 31, 2024 pertaining to the remaining unamortized portion of unrealized losses on securities transferred to HTM.

2023
($ in millions)Amortized CostUnrealized GainsUnrealized LossesFair
Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,477 1 (142)4,336 
Obligations of states and political subdivisions securities2 — — 2 
Mortgage-backed securities:
Agency residential mortgage-backed securities11,564 — (1,282)10,282 
Agency commercial mortgage-backed securities28,945 5 (3,230)25,720 
Non-agency commercial mortgage-backed securities4,872 — (427)4,445 
Asset-backed securities and other debt securities5,207 3 (298)4,912 
Other securities(a)
722 — — 722 
Total available-for-sale debt and other securities$55,789 9 (5,379)50,419 
Held-to-maturity securities:
Asset-backed securities and other debt securities$2 — — 2 
Total held-to-maturity securities$2 — — 2 
(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $224, $496 and $2, respectively, at December 31, 2023, that are carried at cost.

The following table provides the fair value of trading debt securities and equity securities as of December 31:
($ in millions)20242023
Trading debt securities$1,185 899 
Equity securities341 613 

The amounts reported in the preceding tables exclude accrued interest receivable on investment securities of $162 million and $146 million at December 31, 2024 and 2023, respectively, which is presented as a component of other assets in the Consolidated Balance Sheets.
In January 2024, the Bancorp transferred $12.6 billion (amortized cost basis) of securities from available-for-sale to held-to-maturity to reflect the Bancorp’s change in intent to hold these securities to maturity in order to reduce potential capital volatility associated with investment security market price fluctuations. AOCI included pretax unrealized losses of $994 million on these securities at the date of transfer. The unrealized losses that existed on the date of transfer will continue to be reported as a component of AOCI and will be amortized into income over the remaining life of the securities as an adjustment to yield, offsetting the amortization of the discount resulting from the transfer recorded at fair value. The amortized cost basis of held-to-maturity securities included a discount of $865 million at December 31, 2024 pertaining to the unamortized portion of unrealized losses on securities, which are offset in AOCI.

The following table presents the components of net securities gains and losses recognized in the Consolidated Statements of Income, including those recognized related to the Bancorp’s non-qualifying hedging strategy for MSRs, for the years ended December 31:
($ in millions)202420232022
Available-for-sale debt and other securities:
Realized gains$5 34 16 
Realized losses(2)(30)(13)
Impairment losses(21)(5)(1)
Net (losses) gains on available-for-sale debt and other securities$(18)(1)2 
Trading debt securities:
Net realized losses— — (2)
Net unrealized gains— 3 11 
Net trading debt securities gains$— 3 9 
Equity securities:
Net realized gains 15 5 1 
Net unrealized gains (losses)18 11 (96)
Net equity securities gains (losses)$33 16 (95)
Total gains (losses) recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities(a)
$15 18 (84)
(a)Excludes $5 and $13 of net securities gains for the years ended December 31, 2024 and 2023, respectively, and an immaterial amount of net securities losses for the year ended December 31, 2022 related to securities held by FTS to facilitate the timely execution of customer transactions. These gains and losses are included in capital markets fees and wealth and asset management revenue in the Consolidated Statements of Income.

The Bancorp recognized impairment losses on available-for-sale debt and other securities of $21 million, $5 million and $1 million during the years ended December 31, 2024, 2023 and 2022, respectively. These losses were included in securities gains (losses), net, in the Consolidated Statements of Income and related to certain securities in unrealized loss positions where the Bancorp had determined that it no longer intended to hold the securities until the recovery of their amortized cost bases.

At both December 31, 2024 and 2023, the Bancorp did not recognize an allowance for credit losses for its investment securities. The Bancorp also did not recognize provision for credit losses for investment securities during the years ended December 31, 2024, 2023 and 2022.

At December 31, 2024 and 2023, investment securities with a fair value of $30.0 billion and $25.2 billion, respectively, were pledged to secure borrowing capacity, public deposits, trust funds, derivative contracts and for other purposes as required or permitted by law.

The expected maturity distribution of the Bancorp’s mortgage-backed securities and the contractual maturity distribution of the remainder of the Bancorp’s available-for-sale debt and other securities and held-to-maturity securities as of December 31, 2024 are shown in the following table:
Available-for-Sale Debt and OtherHeld-to-Maturity
($ in millions)Amortized CostFair Value   Amortized CostFair Value    
Debt securities:(a)
Due in 1 year or less$3,682 3,666 37 38 
Due after 1 year through 5 years16,586 15,643 3,231 3,191 
Due after 5 years through 10 years16,262 13,830 7,549 7,286 
Due after 10 years6,570 5,630 461 450 
Other securities778 778 — — 
Total$43,878 39,547 11,278 10,965 
(a)Actual maturities may differ from contractual maturities when a right to call or prepay obligations exists with or without call or prepayment penalties.
The following table provides the fair value and gross unrealized losses on available-for-sale debt and other securities in an unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31:
Less than 12 months12 months or moreTotal
($ in millions)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
2024
U.S. Treasury and federal agencies securities$569 — — — 569 — 
Agency residential mortgage-backed securities1,061 (14)4,566 (765)5,627 (779)
Agency commercial mortgage-backed securities157 (6)20,536 (3,016)20,693 (3,022)
Non-agency commercial mortgage-backed securities183 (3)3,984 (335)4,167 (338)
Asset-backed securities and other debt securities283 (11)3,157 (187)3,440 (198)
Total$2,253 (34)32,243 (4,303)34,496 (4,337)
2023
U.S. Treasury and federal agencies securities$1,989 (3)2,157 (139)4,146 (142)
Agency residential mortgage-backed securities81 (2)10,200 (1,280)10,281 (1,282)
Agency commercial mortgage-backed securities5,439 (556)19,957 (2,674)25,396 (3,230)
Non-agency commercial mortgage-backed securities141 (2)4,284 (425)4,425 (427)
Asset-backed securities and other debt securities340 (17)4,184 (281)4,524 (298)
Total$7,990 (580)40,782 (4,799)48,772 (5,379)

At December 31, 2024 and 2023, $34 million and $45 million, respectively, of unrealized losses in the available-for-sale debt and other securities portfolio were related to non-rated securities.
v3.25.0.1
Loans and Leases
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Loans and Leases Loans and Leases
The Bancorp diversifies its loan and lease portfolio by offering a variety of loan and lease products with various payment terms and rate structures. The Bancorp’s commercial loan and lease portfolio consists of lending to various industry types. Management periodically reviews the performance of its loan and lease products to evaluate whether they are performing within acceptable interest rate and credit risk levels and changes are made to underwriting policies and procedures as needed. The Bancorp maintains an allowance to absorb loan and lease losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. For further information on credit quality and the ALLL, refer to Note 6.

The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of December 31:
($ in millions)20242023
Loans and leases held for sale:
Commercial and industrial loans$15 41 
Commercial mortgage loans22 — 
Commercial construction loans29 — 
Commercial leases— 3 
Residential mortgage loans574 334 
Total loans and leases held for sale$640 378 
Portfolio loans and leases:
Commercial and industrial loans$52,271 53,270 
Commercial mortgage loans12,246 11,276 
Commercial construction loans5,588 5,621 
Commercial leases3,188 2,579 
Total commercial loans and leases$73,293 72,746 
Residential mortgage loans$17,543 17,026 
Home equity4,188 3,916 
Indirect secured consumer loans16,313 14,965 
Credit card1,734 1,865 
Solar energy installation loans4,202 3,728 
Other consumer loans2,518 2,988 
Total consumer loans$46,498 44,488 
Total portfolio loans and leases$119,791 117,234 

Portfolio loans and leases are recorded net of unearned income, which totaled $380 million and $272 million as of December 31, 2024 and 2023, respectively. The amortized cost basis of loans and leases excludes accrued interest receivable of $566 million and $593 million at December 31, 2024 and 2023, respectively, which is presented as a component of other assets in the Consolidated Balance Sheets. Additionally, portfolio loans and leases are recorded net of unamortized premiums and discounts, deferred direct loan origination fees and costs associated with loans and valuation adjustments associated with loans measured at fair value. These items totaled a net discount of $324 million and $395 million as of December 31, 2024 and 2023, respectively, of which $901 million and $865 million of net discount was related to solar energy installation loans, respectively.

The Bancorp’s FHLB and FRB borrowings are primarily secured by loans. The Bancorp had loans of $15.1 billion and $14.5 billion as of December 31, 2024 and 2023, respectively, pledged to the FHLB, and loans of $55.3 billion and $49.3 billion at December 31, 2024 and 2023, respectively, pledged to the FRB.
The following table presents a summary of the total loans and leases owned by the Bancorp and net charge-offs (recoveries) as of and for the years ended December 31:
Carrying Value
90 Days Past Due and Still Accruing(a)
Net Charge-Offs (Recoveries)
($ in millions)202420232024202320242023
Commercial and industrial loans$52,286 53,311 5 8 242 155 
Commercial mortgage loans12,268 11,276 — — — (2)
Commercial construction loans5,617 5,621 — — — 1 
Commercial leases3,188 2,582 1 — 2 (1)
Residential mortgage loans18,117 17,360 6 7 (2)— 
Home equity4,188 3,916 — — (1)1 
Indirect secured consumer loans16,313 14,965 — — 90 72 
Credit card1,734 1,865 20 21 68 64 
Solar energy installation loans4,202 3,728 — — 56 26 
Other consumer loans2,518 2,988 — — 77 72 
Total loans and leases$120,431 117,612 32 36 532 388 
Less: Loans and leases held for sale640 378 
Total portfolio loans and leases$119,791 117,234 
(a)Excludes government guaranteed residential mortgage loans.

The following table presents the components of the net investment in portfolio leases as of December 31:
($ in millions)(a)
20242023
Net investment in direct financing leases:
Lease payment receivable (present value)$631 556 
Unguaranteed residual assets (present value)121 105 
Net investment in sales-type leases:
Lease payment receivable (present value)2,102 1,585 
Unguaranteed residual assets (present value)86 84 
(a)Excludes $248 and $249 of leveraged leases at December 31, 2024 and 2023, respectively.

Interest income recognized in the Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022 was $40 million, $26 million and $29 million, respectively, for direct financing leases and $82 million, $63 million and $50 million, respectively, for sales-type leases.

The following table presents undiscounted cash flows for both direct financing and sales-type portfolio leases for 2025 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:
As of December 31, 2024 ($ in millions)Direct Financing
Leases		Sales-Type Leases
2025$197 653 
2026169 508 
2027137 438 
202876 313 
202953 172 
Thereafter69 229 
Total undiscounted cash flows$701 2,313 
Less: Difference between undiscounted cash flows and discounted cash flows70 211 
Present value of lease payments (recognized as lease receivables)$631 2,102 

The lease residual value represents the present value of the estimated fair value of the leased equipment at the end of the lease. The Bancorp performs quarterly reviews of residual values associated with its leasing portfolio considering factors such as the subject equipment, structure of the transaction, industry, prior experience with the lessee and other factors that impact the residual value to assess for impairment. The Bancorp maintained an allowance of $16 million and $13 million at December 31, 2024 and 2023, respectively, to cover the losses that are expected to be incurred over the remaining contractual terms of the related leases, including the potential losses related to the lease residual value. Refer to Note 6 for additional information on credit quality and the ALLL.
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Credit Quality and the Allowance for Loan and Lease Losses Credit Quality and the Allowance for Loan and Lease Losses
The Bancorp disaggregates ALLL balances and transactions in the ALLL by portfolio segment. Credit quality related disclosures for loans and leases are further disaggregated by class.

Allowance for Loan and Lease Losses
The following tables summarize transactions in the ALLL by portfolio segment for the years ended December 31:
2024 ($ in millions)CommercialResidential MortgageConsumerTotal    
Balance, beginning of period$1,130 145 1,047 2,322 
Losses charged-off(a)
(267)(2)(417)(686)
Recoveries of losses previously charged-off(a)
23 4 127 154 
Provision for (benefit from) loan and lease losses268 (1)295 562 
Balance, end of period$1,154 146 1,052 2,352 
(a)The Bancorp recorded $28 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

2023 ($ in millions)CommercialResidential MortgageConsumerTotal    
Balance, beginning of period$1,127 245 822 2,194 
Impact of adoption of ASU 2022-024 (36)(17)(49)
Losses charged-off(a)
(170)(4)(348)(522)
Recoveries of losses previously charged-off(a)
17 4 113 134 
Provision for (benefit from) loan and lease losses152 (64)477 565 
Balance, end of period$1,130 145 1,047 2,322 
(a)The Bancorp recorded $35 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

2022 ($ in millions)CommercialResidential MortgageConsumerTotal    
Balance, beginning of period$1,102 235 555 1,892 
Losses charged-off(a)
(131)(3)(228)(362)
Recoveries of losses previously charged-off(a)
30 5 100 135 
Provision for loan and lease losses126 8 395 529 
Balance, end of period$1,127 245 822 2,194 
(a)The Bancorp recorded $32 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

The following tables provide a summary of the ALLL and related loans and leases classified by portfolio segment:
As of December 31, 2024 ($ in millions)CommercialResidential Mortgage ConsumerTotal    
ALLL:(a)
Individually evaluated$106 — 11 117 
Collectively evaluated1,048 146 1,041 2,235 
Total ALLL$1,154 146 1,052 2,352 
Portfolio loans and leases:(b)
Individually evaluated$395 131 96 622 
Collectively evaluated72,898 17,304 28,859 119,061 
Total portfolio loans and leases$73,293 17,435 28,955 119,683 
(a)Includes $1 related to commercial leveraged leases at December 31, 2024.
(b)Excludes $108 of residential mortgage loans measured at fair value and includes $248 of commercial leveraged leases, net of unearned income, at December 31, 2024.
As of December 31, 2023 ($ in millions)CommercialResidential MortgageConsumerTotal
ALLL:(a)
Individually evaluated$90 — 6 96 
Collectively evaluated1,040 145 1,041 2,226 
Total ALLL$1,130 145 1,047 2,322 
Portfolio loans and leases:(b)
Individually evaluated$281 126 69 476 
Collectively evaluated72,465 16,784 27,393 116,642 
Total portfolio loans and leases$72,746 16,910 27,462 117,118 
(a)Includes $2 related to commercial leveraged leases at December 31, 2023.
(b)Excludes $116 of residential mortgage loans measured at fair value and includes $249 of commercial leveraged leases, net of unearned income, at December 31, 2023.

CREDIT RISK PROFILE
Commercial Portfolio Segment
For purposes of monitoring the credit quality and risk characteristics of its commercial portfolio segment, the Bancorp disaggregates the segment into the following classes: commercial and industrial, commercial mortgage owner-occupied, commercial mortgage nonowner-occupied, commercial construction and commercial leases.

To facilitate the monitoring of credit quality within the commercial portfolio segment, the Bancorp utilizes the following categories of credit ratings: pass, special mention, substandard, doubtful and loss. The five categories, which are derived from standard regulatory rating definitions, are assigned upon initial approval of credit to borrowers and updated periodically thereafter.

Pass ratings, which are assigned to those borrowers that do not have identified potential or well-defined weaknesses and for which there is a high likelihood of orderly repayment, are updated at least annually based on the size and credit characteristics of the borrower. All other categories are updated on a quarterly basis during the month preceding the end of the calendar quarter.

The Bancorp assigns a special mention rating to loans and leases that have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the loan or lease or the Bancorp’s credit position.

The Bancorp assigns a substandard rating to loans and leases that are inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged. Substandard loans and leases have well-defined weaknesses or weaknesses that could jeopardize the orderly repayment of the debt. Loans and leases with this rating also are characterized by the distinct possibility that the Bancorp will sustain some loss if the deficiencies noted are not addressed and corrected.

The Bancorp assigns a doubtful rating to loans and leases that have all the attributes of a substandard rating with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonable specific pending factors that may work to the advantage of and strengthen the credit quality of the loan or lease, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors may include a proposed merger or acquisition, liquidation proceeding, capital injection, perfecting liens on additional collateral or refinancing plans.

Loans and leases classified as loss are considered uncollectible and are charged off in the period in which they are determined to be uncollectible. Because loans and leases in this category are fully charged-off, they are not included in the following tables.

For loans and leases that are collectively evaluated for an ACL, the Bancorp utilizes models to forecast expected credit losses over a reasonable and supportable forecast period based on the probability of a loan or lease defaulting, the expected balance at the estimated date of default and the expected loss percentage given a default. For the commercial portfolio segment, the estimates for probability of default are primarily based on internal ratings assigned to each commercial borrower on a 13-point scale and historical observations of how those ratings migrate to a default over time in the context of macroeconomic conditions. For loans with available credit, the estimate of the expected balance at the time of default considers expected utilization rates, which are primarily based on macroeconomic conditions and the utilization history of similar borrowers under those economic conditions. The estimates for loss severity are primarily based on collateral type and coverage levels and the susceptibility of those characteristics to changes in macroeconomic conditions. For more information about the Bancorp’s processes for developing these models, estimating credit losses for periods beyond the reasonable and supportable forecast period and for estimating credit losses for individually evaluated loans, refer to Note 1.

The Bancorp defines term loans and leases as those having a fixed duration, repayment schedule and defined interest rate. For purposes of disclosing term loans by origination year, the Bancorp generally determines the origination date for loans and leases within the commercial portfolio as the date of the most recent credit decision or extension. Revolving and other loans include loans with revolving privileges
and certain complex lending arrangements involving commitments made by the Bancorp under predefined terms, including loans with both revolving and non-revolving components, loans with delayed draw features or loans with interchangeable interest rate and repayment options that extend beyond the time of origination.

The following tables present the amortized cost basis of the Bancorp’s commercial portfolio segment, by class and vintage, disaggregated by credit risk rating:
As of December 31, 2024 ($ in millions) Term Loans and Leases by Origination YearRevolving
and Other Loans
20242023202220212020PriorTotal
Commercial and industrial loans:
Pass$2,966 1,346 2,445 1,321 371 437 40,185 49,071 
Special mention15 13 22 1 3 9 1,055 1,118 
Substandard67 95 182 74 32 15 1,545 2,010 
Doubtful— — 2 — — — 70 72 
Total commercial and industrial loans$3,048 1,454 2,651 1,396 406 461 42,855 52,271 
Commercial mortgage owner-occupied loans:

Pass$786 790 844 630 315 307 1,829 5,501 
Special mention8 9 23 7 — 3 31 81 
Substandard64 34 24 28 9 43 239 441 
Doubtful— — — — — — — — 
Total commercial mortgage owner-occupied loans
$858 833 891 665 324 353 2,099 6,023 
Commercial mortgage nonowner-occupied loans:

Pass$710 751 769 170 263 408 2,698 5,769 
Special mention54 — 50 5 — — 150 259 
Substandard38 27 9 — — 2 119 195 
Doubtful— — — — — — — — 
Total commercial mortgage nonowner-occupied loans
$802 778 828 175 263 410 2,967 6,223 
Commercial construction loans:

Pass$4 21 — 29 — — 4,565 4,619 
Special mention— — — — — — 756 756 
Substandard— — — — — — 213 213 
Doubtful— — — — — — — — 
Total commercial construction loans$4 21 — 29 — — 5,534 5,588 
Commercial leases:

Pass$1,532 335 281 311 137 517 — 3,113 
Special mention4 4 2 3 2 4 — 19 
Substandard— 11 12 4 3 26 — 56 
Doubtful— — — — — — — — 
Total commercial leases$1,536 350 295 318 142 547 — 3,188 
Total commercial loans and leases:
Pass$5,998 3,243 4,339 2,461 1,086 1,669 49,277 68,073 
Special mention81 26 97 16 5 16 1,992 2,233 
Substandard169 167 227 106 44 86 2,116 2,915 
Doubtful— — 2 — — — 70 72 
Total commercial loans and leases$6,248 3,436 4,665 2,583 1,135 1,771 53,455 73,293 
As of December 31, 2023 ($ in millions) Term Loans and Leases by Origination YearRevolving and Other Loans
20232022202120202019PriorTotal
Commercial and industrial loans:
Pass$2,124 3,434 1,814 580 263 321 40,889 49,425 
Special mention16 100 60 33 6 105 1,756 2,076 
Substandard105 103 28 18 39 73 1,397 1,763 
Doubtful— — — — — — 6 6 
Total commercial and industrial loans$2,245 3,637 1,902 631 308 499 44,048 53,270 
Commercial mortgage owner-occupied loans:
Pass$870 1,078 746 408 219 260 1,279 4,860 
Special mention30 23 18 — 6 — 20 97 
Substandard31 22 11 10 45 10 114 243 
Doubtful— — — — — — — — 
Total commercial mortgage owner-occupied loans
$931 1,123 775 418 270 270 1,413 5,200 
Commercial mortgage nonowner-occupied loans:
Pass$886 825 261 348 293 243 2,724 5,580 
Special mention111 166 — 2 — 2 81 362 
Substandard81 1 8 — — 2 42 134 
Doubtful— — — — — — — — 
Total commercial mortgage nonowner-occupied loans
$1,078 992 269 350 293 247 2,847 6,076 
Commercial construction loans:
Pass$171 36 45 41 70 6 4,818 5,187 
Special mention— — — — — — 199 199 
Substandard61 — 33 — — — 141 235 
Doubtful— — — — — — — — 
Total commercial construction loans$232 36 78 41 70 6 5,158 5,621 
Commercial leases:
Pass$598 386 462 202 145 664 — 2,457 
Special mention1 9 12 3 8 14 — 47 
Substandard20 14 1 5 5 30 — 75 
Doubtful— — — — — — — — 
Total commercial leases$619 409 475 210 158 708 — 2,579 
Total commercial loans and leases:
Pass$4,649 5,759 3,328 1,579 990 1,494 49,710 67,509 
Special mention158 298 90 38 20 121 2,056 2,781 
Substandard298 140 81 33 89 115 1,694 2,450 
Doubtful— — — — — — 6 6 
Total commercial loans and leases$5,105 6,197 3,499 1,650 1,099 1,730 53,466 72,746 

The following tables summarize the Bancorp’s gross charge-offs within the commercial portfolio segment, by class and vintage during the years ended December 31:
2024 ($ in millions)Term Loans and Leases by Origination YearRevolving and Other Loans
20242023202220212020PriorTotal
Commercial loans and leases:
Commercial and industrial loans$1 6 17 1 1 — 238 264 
Commercial mortgage owner-occupied loans— 1 — — — — — 1 
Commercial construction loans— — — — — — — — 
Commercial leases— — — — — 2 — 2 
Total commercial loans and leases$1 7 17 1 1 2 238 267 
2023 ($ in millions)Term Loans and Leases by Origination YearRevolving and Other Loans
20232022202120202019PriorTotal
Commercial loans and leases:
Commercial and industrial loans$25 7 12 1 — 11 112 168 
Commercial mortgage owner-occupied loans— — — — — — 1 1 
Commercial construction loans— — — — — — 1 1 
Commercial leases— — — — — — — — 
Total commercial loans and leases$25 7 12 1 — 11 114 170 

Age Analysis of Past Due Commercial Loans and Leases
The following tables summarize the Bancorp’s amortized cost basis in portfolio commercial loans and leases, by age and class:
Current Loans and Leases(a)
Past DueTotal Loans and Leases90 Days Past Due and Still Accruing
As of December 31, 2024 ($ in millions)
30-89 Days(a)
90 Days or More(a)
Total Past Due  
Commercial loans and leases:
Commercial and industrial loans$52,098 90 83 173 52,271 5 
Commercial mortgage owner-occupied loans5,980 40 3 43 6,023 — 
Commercial mortgage nonowner-occupied loans6,215 6 2 8 6,223 — 
Commercial construction loans5,587 1 — 1 5,588 — 
Commercial leases3,167 18 3 21 3,188 1 
Total portfolio commercial loans and leases$73,047 155 91 246 73,293 6 
(a)Includes accrual and nonaccrual loans and leases.

Current Loans and Leases(a)
Past DueTotal Loans and Leases90 Days Past Due and Still Accruing
As of December 31, 2023 ($ in millions)
30-89 Days(a)
90 Days or More(a)
Total Past Due  
Commercial loans and leases:
Commercial and industrial loans$53,107 61 102 163 53,270 8 
Commercial mortgage owner-occupied loans5,196 1 3 4 5,200 — 
Commercial mortgage nonowner-occupied loans6,061 14 1 15 6,076 — 
Commercial construction loans5,621 — — — 5,621 — 
Commercial leases2,562 17 — 17 2,579 — 
Total portfolio commercial loans and leases$72,547 93 106 199 72,746 8 
(a)Includes accrual and nonaccrual loans and leases.

Residential Mortgage and Consumer Portfolio Segments
For purposes of monitoring the credit quality and risk characteristics of its consumer portfolio segment, the Bancorp disaggregates the segment into the following classes: home equity, indirect secured consumer loans, credit card, solar energy installation loans and other consumer loans. The Bancorp’s residential mortgage portfolio segment is also a separate class.

The Bancorp considers repayment performance as the best indicator of credit quality for residential mortgage and consumer loans, which includes both the delinquency status and performing versus nonperforming status of the loans. The delinquency status of all residential mortgage and consumer loans and the performing versus nonperforming status are presented in the following tables.

For collectively evaluated loans in the consumer and residential mortgage portfolio segments, the Bancorp’s expected credit loss models primarily utilize the borrower’s FICO score and delinquency history in combination with macroeconomic conditions when estimating the probability of default. The estimates for loss severity are primarily based on collateral type and coverage levels and the susceptibility of those characteristics to changes in macroeconomic conditions. The expected balance at the estimated date of default is also especially impactful in the expected credit loss models for portfolio classes which generally have longer terms (such as residential mortgage loans and home equity) and portfolio classes containing a high concentration of loans with revolving privileges (such as home equity). The estimate of the expected balance at the time of default considers expected prepayment and utilization rates where applicable, which are primarily based on macroeconomic conditions and the utilization history of similar borrowers under those economic conditions. Refer to Note 1 for additional information about the Bancorp’s process for developing these models and its process for estimating credit losses for periods beyond the reasonable and supportable forecast period.

The following tables present the amortized cost basis of the Bancorp’s residential mortgage and consumer portfolio segments, by class and vintage, disaggregated by both age and performing versus nonperforming status:
As of December 31, 2024 ($ in millions) Term Loans by Origination YearRevolving
Loans		Revolving Loans Converted to Term Loans
20242023202220212020PriorTotal
Residential mortgage loans:
Performing:
Current(a)
$1,961 998 2,961 4,606 2,491 4,245 — — 17,262 
30-89 days past due1 3 4 9 4 12 — — 33 
90 days or more past due1 — 1 1 — 2 — — 5 
Nonperforming— 2 9 13 8 103 — — 135 
Total residential mortgage loans(b)
$1,963 1,003 2,975 4,629 2,503 4,362 — — 17,435 
Home equity:

Performing:

Current$168 67 34 2 4 86 3,660 72 4,093 
30-89 days past due— — — — — 1 23 1 25 
90 days or more past due— — — — — — — — — 
Nonperforming— — 1 — — 7 56 6 70 
Total home equity$168 67 35 2 4 94 3,739 79 4,188 
Indirect secured consumer loans:

Performing:









Current$6,773 2,836 3,046 2,371 753 349 — — 16,128 
30-89 days past due19 27 39 27 11 7 — — 130 
90 days or more past due— — — — — — — — — 
Nonperforming4 10 19 13 5 4 — — 55 
Total indirect secured consumer loans$6,796 2,873 3,104 2,411 769 360 — — 16,313 
Credit card:

Performing:
Current$— — — — — — 1,664 — 1,664 
30-89 days past due— — — — — — 18 — 18 
90 days or more past due— — — — — — 20 — 20 
Nonperforming— — — — — — 32 — 32 
Total credit card$— — — — — — 1,734 — 1,734 
Solar energy installation loans:
Performing:
Current$894 2,095 1,094 2 — 33 — — 4,118 
30-89 days past due2 11 7 — — — — — 20 
90 days or more past due— — — — — — — — — 
Nonperforming1 34 28 — — 1 — — 64 
Total solar energy installation loans$897 2,140 1,129 2 — 34 — — 4,202 
Other consumer loans:

Performing:

Current$201 351 507 219 171 142 860 34 2,485 
30-89 days past due1 5 10 3 1 2 1 1 24 
90 days or more past due— — — — — — — — — 
Nonperforming— 2 4 1 — 1 — 1 9 
Total other consumer loans$202 358 521 223 172 145 861 36 2,518 
Total residential mortgage and consumer loans:
Performing:
Current$9,997 6,347 7,642 7,200 3,419 4,855 6,184 106 45,750 
30-89 days past due23 46 60 39 16 22 42 2 250 
90 days or more past due1 — 1 1 — 2 20 — 25 
Nonperforming5 48 61 27 13 116 88 7 365 
Total residential mortgage and consumer loans(b)
$10,026 6,441 7,764 7,267 3,448 4,995 6,334 115 46,390 
(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2024, $90 of these loans were 30-89 days past due and $162 were 90 days or more past due. The Bancorp recognized $1 of losses during the year ended December 31, 2024 due to claim denials and curtailments associated with these insured or guaranteed loans.
(b)Excludes $108 of residential mortgage loans measured at fair value at December 31, 2024, including $1 of 30-89 days past due loans, $1 of 90 days or more past due loans and $2 of nonperforming loans.
As of December 31, 2023 ($ in millions) Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term Loans
20232022202120202019PriorTotal
Residential mortgage loans:
Performing:
Current(a)
$995 3,139 5,001 2,703 943 3,971 — — 16,752 
30-89 days past due— 3 6 5 1 14 — — 29 
90 days or more past due— 1 1 1 1 3 — — 7 
Nonperforming— 6 6 5 4 101 — — 122 
Total residential mortgage loans(b)
$995 3,149 5,014 2,714 949 4,089 — — 16,910 
Home equity:
Performing:
Current$84 41 2 6 11 92 3,549 46 3,831 
30-89 days past due— — — — — 2 25 1 28 
90 days or more past due— — — — — — — — — 
Nonperforming— — — — — 6 50 1 57 
Total home equity$84 41 2 6 11 100 3,624 48 3,916 
Indirect secured consumer loans:
Performing:
Current$4,126 4,333 3,925 1,527 597 271 — — 14,779 
30-89 days past due22 49 40 19 12 8 — — 150 
90 days or more past due— — — — — — — — — 
Nonperforming4 11 9 6 3 3 — — 36 
Total indirect secured consumer loans$4,152 4,393 3,974 1,552 612 282 — — 14,965 
Credit card:
Performing:
Current$— — — — — — 1,789 — 1,789 
30-89 days past due— — — — — — 21 — 21 
90 days or more past due— — — — — — 21 — 21 
Nonperforming— — — — — — 34 — 34 
Total credit card$— — — — — — 1,865 — 1,865 
Solar energy installation loans:
Performing:
Current$2,415 1,192 2 — — 41 — — 3,650 
30-89 days past due12 6 — — — — — — 18 
90 days or more past due— — — — — — — — — 
Nonperforming29 30 — — — 1 — — 60 
Total solar energy installation loans$2,456 1,228 2 — — 42 — — 3,728 
Other consumer loans:
Performing:
Current$511 703 328 246 101 154 859 41 2,943 
30-89 days past due5 15 4 2 2 2 2 1 33 
90 days or more past due— — — — — — — — — 
Nonperforming2 6 1 1 1 — — 1 12 
Total other consumer loans$518 724 333 249 104 156 861 43 2,988 
Total residential mortgage and consumer loans:
Performing:
Current$8,131 9,408 9,258 4,482 1,652 4,529 6,197 87 43,744 
30-89 days past due39 73 50 26 15 26 48 2 279 
90 days or more past due— 1 1 1 1 3 21 — 28 
Nonperforming35 53 16 12 8 111 84 2 321 
Total residential mortgage and consumer loans(b)
$8,205 9,535 9,325 4,521 1,676 4,669 6,350 91 44,372 
(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2023, $79 of these loans were 30-89 days past due and $141 were 90 days or more past due. The Bancorp recognized $2 of losses during the year ended December 31, 2023 due to claim denials and curtailments associated with these insured or guaranteed loans.
(b)Excludes $116 of residential mortgage loans measured at fair value at December 31, 2023, including $1 of 30-89 days past due loans and $2 of nonperforming loans.
The following tables summarize the Bancorp’s gross charge-offs within the residential mortgage and consumer portfolio segments, by class and vintage during the years ended December 31:
2024 ($ in millions)Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term Loans
20242023202220212020PriorTotal
Residential mortgage loans$— — — — — 2 — — 2 
Consumer loans:
Home equity— — — — — 1 5 — 6 
Indirect secured consumer loans7 35 53 25 9 10 — — 139 
Credit card— — — — — — 87 — 87 
Solar energy installation loans2 16 13 — 14 18 — — 63 
Other consumer loans1 12 24 12 20 16 34 3 122 
Total residential mortgage and consumer loans$10 63 90 37 43 47 126 3 419 

2023 ($ in millions)Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term Loans
20232022202120202019PriorTotal
Residential mortgage loans$— — — — — 4 — — 4 
Consumer loans:
Home equity— — — — — 1 7 — 8 
Indirect secured consumer loans9 42 27 14 10 8 — — 110 
Credit card— — — — — — 82 — 82 
Solar energy installation loans8 16 1 — — 2 — — 27 
Other consumer loans7 37 14 12 7 8 34 2 121 
Total residential mortgage and consumer loans$24 95 42 26 17 23 123 2 352 

Collateral-Dependent Loans and Leases
The Bancorp considers a loan or lease to be collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. When a loan or lease is collateral-dependent, its fair value is generally based on the fair value less cost to sell of the underlying collateral.

The following table presents the amortized cost basis of the Bancorp’s collateral-dependent loans and leases, by portfolio class, as of:
($ in millions)December 31,
2024		December 31,
2023
Commercial loans and leases:
Commercial and industrial loans$325 268 
Commercial mortgage owner-occupied loans63 8 
Commercial mortgage nonowner-occupied loans4 2 
Commercial construction loans1 1 
Commercial leases2 — 
Total commercial loans and leases$395 279 
Residential mortgage loans131 126 
Consumer loans:
Home equity66 54 
Indirect secured consumer loans30 15 
Total consumer loans$96 69 
Total portfolio loans and leases$622 474 

Nonperforming Assets
Nonperforming assets include nonaccrual loans and leases for which ultimate collectability of the full amount of the principal and/or interest is uncertain and certain other assets, including OREO and other repossessed property.
The following table presents the amortized cost basis of the Bancorp’s nonaccrual loans and leases, by class, and OREO and other repossessed property, as of:
December 31, 2024December 31, 2023
 ($ in millions)With an ALLLNo Related
ALLL		TotalWith an ALLLNo Related
ALLL		Total
Commercial loans and leases:
Commercial and industrial loans$265 109 374 273 31 304 
Commercial mortgage owner-occupied loans52 23 75 11 6 17 
Commercial mortgage nonowner-occupied loans— 4 4 — 3 3 
Commercial construction loans— 1 1 — 1 1 
Commercial leases2 — 2 — 1 1 
Total nonaccrual portfolio commercial loans and leases$319 137 456 284 42 326 
Residential mortgage loans57 80 137 26 98 124 
Consumer loans:
Home equity21 49 70 21 36 57 
Indirect secured consumer loans48 7 55 32 4 36 
Credit card32 — 32 34 — 34 
Solar energy installation loans64 — 64 60 — 60 
Other consumer loans9 — 9 12 — 12 
Total nonaccrual portfolio consumer loans$174 56 230 159 40 199 
Total nonaccrual portfolio loans and leases(a)(b)
$550 273 823 469 180 649 
OREO and other repossessed property— 30 30 — 39 39 
Total nonperforming portfolio assets(a)(b)
$550 303 853 469 219 688 
(a)Excludes $7 and $1 of nonaccrual loans held for sale as of December 31, 2024 and 2023, respectively.
(b)Includes $18 and $19 of nonaccrual government-insured commercial loans whose repayments are insured by the SBA as of December 31, 2024 and 2023, respectively.

The Bancorp recognized an immaterial amount of interest income on nonaccrual loans and leases for both the years ended December 31, 2024 and 2023.

The Bancorp’s amortized cost basis of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction was $94 million and $107 million as of December 31, 2024 and 2023, respectively.
Modifications to Borrowers Experiencing Financial Difficulty
In the course of servicing its loans, the Bancorp works with borrowers who are experiencing financial difficulty to identify solutions that are mutually beneficial to both parties with the objective of mitigating the risk of losses on the loan. These efforts often result in modifications to the payment terms of the loan. The types of modifications offered to borrowers vary by type of loan and may include term extensions, interest rate reductions, payment delays (other than those that are insignificant) or combinations thereof. The Bancorp typically does not provide principal forgiveness except in circumstances where the loan has already been fully or partially charged off.

The Bancorp applies its expected credit loss models consistently to both modified and non-modified loans when estimating the ALLL. For loans which are modified for borrowers experiencing financial difficulty, there is generally not a significant change to the ALLL upon modification because the Bancorp’s ALLL estimation methodologies already consider those borrowers’ financial difficulties and the resulting effects of potential modifications when estimating expected credit losses.

Portfolio loans with an amortized cost basis of $552 million and $615 million were modified during the years ended December 31, 2024 and 2023, respectively, for borrowers experiencing financial difficulty, as further discussed in the following sections. These modifications for the years ended December 31, 2024 and 2023 represented 0.46% and 0.52%, respectively, of total portfolio loans and leases as of December 31, 2024 and 2023. These amounts excluded $52 million and $29 million for the years ended December 31, 2024 and 2023, respectively, of consumer and residential mortgage loans which have been granted a concession under provisions of the Federal Bankruptcy Act and are monitored separately from loans modified under the Bancorp’s loan modification programs. As of December 31, 2024 and 2023, the Bancorp had commitments of $88 million and $130 million, respectively, to lend additional funds to borrowers experiencing financial difficulty whose terms have been modified during the years ended December 31, 2024 and 2023, respectively.

Commercial portfolio segment
Commercial loan modifications are individually negotiated and may vary depending on the borrower’s financial situation, but the Bancorp most commonly utilizes term extensions for periods of three to twelve months. In less common situations and when specifically warranted by the borrower’s situation, the Bancorp may also consider offering commercial borrowers interest rate reductions or payment delays, which may be combined with a term extension.
The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the Bancorp’s commercial portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification, during the years ended:
December 31, 2024 ($ in millions)
Term ExtensionTerm Extension and Payment DelayPayment DelayOtherTotal% of Total Class
Commercial and industrial loans$155 19 57 1 232 0.44 %
Commercial mortgage owner-occupied loans46 14 1 — 61 1.01 
Commercial mortgage nonowner-occupied loans72 — — — 72 1.16 
Commercial construction loans58 — — 1 59 1.06 
Total commercial portfolio loans$331 33 58 2 424 0.60 %

December 31, 2023 ($ in millions)
Term ExtensionTerm Extension and Payment DelayPayment DelayOtherTotal% of Total Class
Commercial and industrial loans$155 31 56 3 245 0.46 %
Commercial mortgage owner-occupied loans27 — — — 27 0.52 
Commercial mortgage nonowner-occupied loans66 — — 2 68 1.12 
Commercial construction loans113 — — — 113 2.01 
Total commercial portfolio loans$361 31 56 5 453 0.62 %

Residential mortgage portfolio segment
The Bancorp has established residential mortgage loan modification programs which define the type of modifications available as well as the eligibility criteria for borrowers. The designs of the Bancorp’s modification programs for residential mortgage loans are similar to those utilized by the various GSEs. The most common modification program utilized for residential mortgage loans is a term extension for up to 480 months from the modification date, combined with a change in interest rate to a fixed rate (which may be an increase or decrease from the rate in the original loan). As part of these modifications, the Bancorp may capitalize delinquent amounts due at the time of the modification into the principal balance of the loan when determining its modified payment structure. For loans where the modification results in a new monthly payment amount, borrowers may be required to complete a trial period of three to four months before the loan is permanently modified. The Bancorp also offers payment delay modifications to qualified borrowers which allow either the delay of repayment for delinquent amounts due until maturity or capitalization of delinquent amounts due into the principal balance of the loan. The number of monthly payments delayed varies by borrower but is most commonly within a range of six to twelve months.

The following table presents the amortized cost basis as of December 31, 2024 and 2023 of the Bancorp’s residential mortgage portfolio loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the years ended:
December 31, 2024December 31, 2023
($ in millions)Total% of Total ClassTotal% of Total Class
Payment delay$5 0.03 %$18 0.11 %
Term extension and payment delay72 0.41 91 0.53 
Term extension, interest rate reduction and payment delay12 0.07 4 0.02 
Total residential mortgage portfolio loans$89 0.51 %$113 0.66 %

The Bancorp had $5 million and $3 million of in-process modifications to residential mortgage loans outstanding as of December 31, 2024 and 2023, respectively, which are excluded from the completed modification activity in the tables above. These in-process modifications will be reported as completed modifications once the borrower satisfies the applicable contingencies in the modification agreement and the loan is contractually modified to make the modified terms permanent.

Consumer portfolio segment
The Bancorp’s modification programs for consumer loans vary based on type of loan. The most common modification program for home equity is a term extension for up to 360 months combined with a delay in repayment of delinquent amounts due until maturity, which is typically combined with an interest rate reduction. Modification programs for credit card typically involve an interest rate reduction and an increase to the minimum monthly payment in order to repay a larger portion of outstanding balances. Modifications for indirect secured consumer loans, solar energy installation loans and other consumer loans are less commonly utilized as part of the Bancorp’s loss mitigation activities and programs vary by specific product type.
The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the Bancorp’s consumer portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification, during the years ended:
December 31, 2024 ($ in millions)
Interest Rate ReductionPayment DelayInterest Rate Reduction and Payment DelayTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal% of Total Class
Home equity$4 — — 2 9 15 0.36 %
Credit card20 — — — — 20 1.15 
Solar energy installation loans— 1 — — — 1 0.02 
Other consumer loans— 3 — — — 3 0.12 
Total consumer portfolio loans$24 4 — 2 9 39 0.13 %

December 31, 2023 ($ in millions)
Interest Rate ReductionPayment DelayInterest Rate Reduction and Payment DelayTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal% of Total Class
Home equity$4 1 1 2 8 16 0.41 %
Credit card27 — — — — 27 1.45 
Solar energy installation loans— 1 — — — 1 0.03 
Other consumer loans— 5 — — — 5 0.17 
Total consumer portfolio loans$31 7 1 2 8 49 0.18 %

Financial effects of loan modifications
The following table presents the financial effects of the Bancorp’s significant types of portfolio loan modifications to borrowers experiencing financial difficulty, by portfolio class for the years ended December 31:
Financial Effects20242023
Commercial loans:
Commercial and industrial loansWeighted-average length of term extensions9 months11 months
Weighted-average length of payment delay15 months23 months
Commercial mortgage owner-
occupied loans
Weighted-average length of term extensions10 months15 months
Weighted-average length of payment delay15 monthsN/A
Commercial mortgage nonowner-
occupied loans
Weighted-average length of term extensions20 months16 months
Commercial construction loansWeighted-average length of term extensions12 months12 months
Residential mortgage loansWeighted-average length of term extensions10.4 years12.9 years
Approximate amount of payment delays as a percentage of the related loan balances13%17%
Consumer loans:
Home equityWeighted-average length of term extensions22.8 years24.2 years
Weighted-average interest rate reduction
From 9.2% to 7.2%
From 8.7% to 7.0%
Approximate amount of payment delays as a percentage of the related loan balances5%5%
Credit cardWeighted-average interest rate reduction
From 23.9% to 4.1%
From 23.7% to 3.9%
Credit quality of modified loans
The Bancorp closely monitors the performance of loans that are modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts.

The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, for the Bancorp’s portfolio loans that were modified during the years ended December 31, 2024 and 2023, respectively, for borrowers experiencing financial difficulty, by age and portfolio class:
December 31, 2024 ($ in millions)
Past Due
Current30-89 Days90 Days or MoreTotal
Commercial loans:
Commercial and industrial loans$182 22 28 232 
Commercial mortgage owner-occupied loans61 — — 61 
Commercial mortgage nonowner-occupied loans72 — — 72 
Commercial construction loans59 — — 59 
Residential mortgage loans56 15 18 89 
Consumer loans:
Home equity13 1 1 15 
Credit card(a)
15 3 2 20 
Solar energy installation loans1 — — 1 
Other consumer loans3 — — 3 
Total portfolio loans$462 41 49 552 
(a)Credit card loans continue to be reported as delinquent after modification as they are not returned to current status until the borrower demonstrates a willingness and ability to repay the loan according to its modified terms.
December 31, 2023 ($ in millions)
Past Due
Current30-89 Days90 Days or MoreTotal
Commercial loans:
Commercial and industrial loans$184 9 52 245 
Commercial mortgage owner-occupied loans26 — 1 27 
Commercial mortgage nonowner-occupied loans68 — — 68 
Commercial construction loans113 — — 113 
Residential mortgage loans86 15 12 113 
Consumer loans:
Home equity14 2 — 16 
Credit card(a)
19 5 3 27 
Solar energy installation loans1 — — 1 
Other consumer loans5 — — 5 
Total portfolio loans$516 31 68 615 
(a)Credit card loans continue to be reported as delinquent after modification as they are not returned to current status until the borrower demonstrates a willingness and ability to repay the loan according to its modified terms.
The Bancorp considers modifications to borrowers experiencing financial difficulty that subsequently become 90 days or more past due under the modified terms as subsequently defaulted. The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the modifications for borrowers experiencing financial difficulty that subsequently defaulted during the years ended December 31, 2024 and 2023, respectively, and were within twelve months of the modification date:
December 31, 2024
($ in millions)
Term ExtensionInterest Rate ReductionPayment DelayTerm Extension and Interest Rate ReductionTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal
Commercial loans:
Commercial and industrial loans$14 — 13 1 8 — 36 
Commercial mortgage owner-occupied loans— — — — — — — 
Residential mortgage loans— — 3 — 29 6 38 
Consumer loans:
Home equity— 1 — — 1 1 3 
Credit card— 9 — — — — 9 
Total portfolio loans$14 10 16 1 38 7 86 
December 31, 2023
($ in millions)(a)
Term ExtensionInterest Rate ReductionPayment DelayTerm Extension and Interest Rate ReductionTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal
Commercial loans:
Commercial and industrial loans$51 — — — — — 51 
Commercial mortgage owner-occupied loans1 — — — — — 1 
Residential mortgage loans— — 2 — 11 1 14 
Consumer loans:
Home equity— 1 — — — — 1 
Credit card— 10 — — — — 10 
Total portfolio loans$52 11 2 — 11 1 77 
(a)Excludes loans modified prior to the adoption of ASU 2022-02.
v3.25.0.1
Bank Premises and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Bank Premises and Equipment Bank Premises and Equipment
The following table provides a summary of bank premises and equipment as of December 31:
($ in millions)Estimated Useful Life20242023
Equipment1-20 years$2,769 2,578 
Buildings(a)
1-30 years1,784 1,742 
Leasehold improvements1-30 years760 685 
Land and improvements(a)
623 618 
Construction in progress(a)
199 180 
Bank premises and equipment held for sale:(b)
Land and improvements10 15 
Buildings4 4 
Accumulated depreciation and amortization(3,674)(3,473)
Total bank premises and equipment$2,475 2,349 
(a)At December 31, 2024 and 2023, land and improvements, buildings and construction in progress included $1 and $9, respectively, associated with parcels of undeveloped land intended for future branch expansion.
(b)Included within the assets of General Corporate & Other in the Bancorp’s segment reporting.

Depreciation and amortization expense related to bank premises and equipment, including amortization of finance lease ROU assets, was $306 million, $292 million and $273 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The Bancorp monitors changing customer preferences associated with the channels it uses for banking transactions to evaluate the efficiency, competitiveness and quality of the customer service experience in its consumer distribution network. As part of this ongoing assessment, the Bancorp may determine that it is no longer fully committed to maintaining full-service banking centers at certain locations. Similarly, the Bancorp may also determine that it is no longer fully committed to building banking centers on certain parcels of land which had previously been held for future branch expansion. The Bancorp closed a total of 32 banking centers throughout its footprint during the year ended December 31, 2024.

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. Impairment losses associated with such assessments and lower of cost or market adjustments were $1 million, $2 million and $9 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the year ended December 31, 2023, the Bancorp also recognized $8 million of impairment losses in conjunction with transferring certain parcels of land to OREO. The recognized impairment losses were recorded in other noninterest income in the Consolidated Statements of Income.
v3.25.0.1
Operating Lease Equipment
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Operating Lease Equipment Operating Lease Equipment
Operating lease equipment was $319 million and $459 million at December 31, 2024 and 2023, respectively, net of accumulated depreciation of $333 million and $355 million at December 31, 2024 and 2023, respectively. The Bancorp recorded lease income of $100 million, $135 million and $146 million relating to lease payments for operating leases in commercial banking revenue in the Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022, respectively. Depreciation expense related to operating lease equipment is reported as a component of other noninterest expense in the Consolidated Statements of Income and was $81 million, $110 million and $121 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Bancorp received payments of $101 million, $140 million and $147 million related to operating leases during the years ended December 31, 2024, 2023 and 2022, respectively.

The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. As a result of these recoverability assessments, the Bancorp recognized impairment losses associated with operating lease assets of an immaterial amount for the years ended December 31, 2024 and 2023 and $2 million for the year ended December 31, 2022. The recognized impairment losses were recorded in commercial banking revenue in the Consolidated Statements of Income.

The following table presents future lease payments receivable from operating leases for 2025 through 2029 and thereafter:
As of December 31, 2024 ($ in millions)Undiscounted
Cash Flows
2025$73 
202647 
202725 
202811 
20296 
Thereafter9 
Total operating lease payments$171 
v3.25.0.1
Lease Obligations - Lessee
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Obligations, Lessee Lease Obligations - Lessee
The Bancorp leases certain banking centers, ATM sites, land for owned buildings and equipment. The Bancorp’s lease agreements typically do not contain any residual value guarantees or any material restrictive covenants.

The following table provides a summary of lease assets and lease liabilities as of December 31:
($ in millions)Consolidated Balance Sheets Caption20242023
Assets
Operating lease ROU assetsOther assets$526 511 
Finance lease ROU assetsBank premises and equipment146 126 
Total ROU assets(a)
$672 637 
Liabilities
Operating lease liabilitiesAccrued taxes, interest and expenses$606 601 
Finance lease liabilitiesLong-term debt161 134 
Total lease liabilities$767 735 
(a)Operating and finance lease ROU assets are recorded net of accumulated amortization of $328 and $54, respectively, as of December 31, 2024, and $292 and $77, respectively, as of December 31, 2023.

The following table presents the components of lease costs for the years ended December 31:
($ in millions)Consolidated Statements of Income Caption202420232022
Lease costs:
  Amortization of ROU assetsNet occupancy and equipment expense$21 19 19 
Interest on lease liabilitiesInterest on long-term debt6 5 5 
Total finance lease costs$27 24 24 
Operating lease costNet occupancy expense$89 87 84 
Short-term lease costNet occupancy expense1 2 1 
Variable lease costNet occupancy expense30 29 28 
Sublease incomeNet occupancy expense(3)(2)(3)
Total operating lease costs$117 116 110 
Total lease costs$144 140 134 

The Bancorp performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. In addition to the lease costs disclosed in the table above, the Bancorp recognized $1 million, $2 million and $2 million of impairment losses and termination charges for the ROU assets related to certain operating leases for the years ended December 31, 2024, 2023 and 2022, respectively. The recognized losses were recorded in net occupancy expense in the Consolidated Statements of Income.

The following table presents undiscounted cash flows for both operating leases and finance leases for 2025 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:
As of December 31, 2024 ($ in millions)Operating
Leases		Finance
Leases		Total
2025$92 22 114 
202686 22 108 
202778 21 99 
202870 21 91 
202960 11 71 
Thereafter397 104 501 
Total undiscounted cash flows$783 201 984 
Less: Difference between undiscounted cash flows and discounted cash flows177 40 217 
Present value of lease liabilities$606 161 767 
The following table presents the weighted-average remaining lease term and weighted-average discount rate as of December 31:
20242023
Weighted-average remaining lease term (years):
Operating leases11.5711.07
Finance leases12.6615.21
Weighted-average discount rate:
Operating leases4.08 %3.72 
Finance leases3.80 3.02 

The following table presents information related to lease transactions for the years ended December 31:
($ in millions)202420232022
Cash paid for amounts included in the measurement of lease liabilities:(a)
Operating cash flows from operating leases$95 91 90 
Operating cash flows from finance leases6 5 5 
Financing cash flows from finance leases18 16 23 
Gains on sale-leaseback transactions— 2 4 
(a)The cash flows related to short-term and variable lease payments are not included in the amounts presented as they were not included in the measurement of lease liabilities.
Lease Obligations, Lessee Lease Obligations - Lessee
The Bancorp leases certain banking centers, ATM sites, land for owned buildings and equipment. The Bancorp’s lease agreements typically do not contain any residual value guarantees or any material restrictive covenants.

The following table provides a summary of lease assets and lease liabilities as of December 31:
($ in millions)Consolidated Balance Sheets Caption20242023
Assets
Operating lease ROU assetsOther assets$526 511 
Finance lease ROU assetsBank premises and equipment146 126 
Total ROU assets(a)
$672 637 
Liabilities
Operating lease liabilitiesAccrued taxes, interest and expenses$606 601 
Finance lease liabilitiesLong-term debt161 134 
Total lease liabilities$767 735 
(a)Operating and finance lease ROU assets are recorded net of accumulated amortization of $328 and $54, respectively, as of December 31, 2024, and $292 and $77, respectively, as of December 31, 2023.

The following table presents the components of lease costs for the years ended December 31:
($ in millions)Consolidated Statements of Income Caption202420232022
Lease costs:
  Amortization of ROU assetsNet occupancy and equipment expense$21 19 19 
Interest on lease liabilitiesInterest on long-term debt6 5 5 
Total finance lease costs$27 24 24 
Operating lease costNet occupancy expense$89 87 84 
Short-term lease costNet occupancy expense1 2 1 
Variable lease costNet occupancy expense30 29 28 
Sublease incomeNet occupancy expense(3)(2)(3)
Total operating lease costs$117 116 110 
Total lease costs$144 140 134 

The Bancorp performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. In addition to the lease costs disclosed in the table above, the Bancorp recognized $1 million, $2 million and $2 million of impairment losses and termination charges for the ROU assets related to certain operating leases for the years ended December 31, 2024, 2023 and 2022, respectively. The recognized losses were recorded in net occupancy expense in the Consolidated Statements of Income.

The following table presents undiscounted cash flows for both operating leases and finance leases for 2025 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:
As of December 31, 2024 ($ in millions)Operating
Leases		Finance
Leases		Total
2025$92 22 114 
202686 22 108 
202778 21 99 
202870 21 91 
202960 11 71 
Thereafter397 104 501 
Total undiscounted cash flows$783 201 984 
Less: Difference between undiscounted cash flows and discounted cash flows177 40 217 
Present value of lease liabilities$606 161 767 
The following table presents the weighted-average remaining lease term and weighted-average discount rate as of December 31:
20242023
Weighted-average remaining lease term (years):
Operating leases11.5711.07
Finance leases12.6615.21
Weighted-average discount rate:
Operating leases4.08 %3.72 
Finance leases3.80 3.02 

The following table presents information related to lease transactions for the years ended December 31:
($ in millions)202420232022
Cash paid for amounts included in the measurement of lease liabilities:(a)
Operating cash flows from operating leases$95 91 90 
Operating cash flows from finance leases6 5 5 
Financing cash flows from finance leases18 16 23 
Gains on sale-leaseback transactions— 2 4 
(a)The cash flows related to short-term and variable lease payments are not included in the amounts presented as they were not included in the measurement of lease liabilities.
v3.25.0.1
Goodwill
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
Business combinations entered into by the Bancorp typically result in the recognition of goodwill. Acquisition activity includes acquisitions in the respective period in addition to purchase accounting adjustments related to previous acquisitions.

The Bancorp completed its annual goodwill impairment test as of September 30, 2024 by performing a qualitative assessment of goodwill at the reporting unit level to determine whether any indicators of impairment existed. In performing this qualitative assessment, the Bancorp evaluated events and circumstances since the last impairment analysis, macroeconomic conditions, banking industry and market conditions and key financial metrics of the Bancorp as well as reporting unit and overall Bancorp financial performance. After assessing the totality of the events and circumstances, the Bancorp determined that it was not more likely than not that the fair values of the Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management reporting units were less than their respective carrying amounts and, therefore, the quantitative goodwill impairment test was deemed unnecessary.

As further discussed in Note 1, the Bancorp completed an additional goodwill impairment test as of October 1, 2024 to align with the annual testing date that will be used in future periods. This additional test followed the same methodology as the previously described September 30, 2024 test. This test as of October 1, 2024 also concluded that it was not more likely than not that the fair values of the Bancorp’s reporting units were less than their respective carrying amounts.

Changes in the net carrying amount of goodwill, by reporting unit, for the years ended December 31, 2024 and 2023 were as follows:
($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth and Asset
Management		General Corporate and OtherTotal
Goodwill$3,074 2,580 226 — 5,880 
Accumulated impairment losses(750)(215)— — (965)
Net carrying value as of December 31, 20222,324 2,365 226 — 4,915 
Acquisition activity— 4 — — 4 
Net carrying value as of December 31, 20232,324 2,369 226 — 4,919 
Sale of business— — (1)— (1)
Net carrying value as of December 31, 2024$2,324 2,369 225 — 4,918 
v3.25.0.1
Intangible Assets
 12 Months Ended
Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets Intangible Assets
Intangible assets consist of core deposit intangibles, developed technology, customer relationships, and other intangible assets which include trade names, backlog, operating leases and non-compete agreements. Intangible assets are amortized on either a straight-line or an accelerated basis over their estimated useful lives and, based on the type of intangible asset, the amortization expense may be recorded in either commercial banking revenue or other noninterest expense in the Consolidated Statements of Income.

The details of the Bancorp’s intangible assets are shown in the following table:
($ in millions)Gross Carrying AmountAccumulated
Amortization		Net Carrying
Amount
As of December 31, 2024
Core deposit intangibles$206 (196)10 
Developed technology106 (50)56 
Customer relationships28 (9)19 
Other13 (8)5 
Total intangible assets$353 (263)90 
As of December 31, 2023
Core deposit intangibles$209 (184)25 
Developed technology106 (33)73 
Customer relationships30 (10)20 
Other16 (9)7 
Total intangible assets$361 (236)125 

As of December 31, 2024, all of the Bancorp’s intangible assets were being amortized. Amortization expense recognized on intangible assets was $35 million, $43 million and $48 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The Bancorp’s projections of amortization expense shown in the following table are based on existing asset balances as of December 31, 2024. Future amortization expense may vary from these projections. Estimated amortization expense for 2025 through 2029 is as follows:
($ in millions)Total
2025$28 
202622 
202714 
20289 
20296 
v3.25.0.1
Variable Interest Entities
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities Variable Interest Entities
The Bancorp, in the normal course of business, engages in a variety of activities that involve VIEs, which are legal entities that lack sufficient equity at risk to finance their activities without additional subordinated financial support or the equity investors of the entities as a group lack any of the characteristics of a controlling interest. The Bancorp evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Bancorp is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. If the Bancorp is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Bancorp is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under the equity method of accounting or other accounting standards as appropriate.

Consolidated VIEs
The Bancorp has consolidated VIEs related to an automobile loan securitization and a solar loan securitization where it has determined that it is the primary beneficiary. The following table provides a summary of assets and liabilities recorded on the Consolidated Balance Sheets for these consolidated VIEs as of:
($ in millions)December 31,
2024		December 31,
2023
Assets:
Other short-term investments$51 55 
Indirect secured consumer loans967 1,535 
Solar energy installation loans33 38 
ALLL(19)(28)
Other assets5 10 
Total assets$1,037 1,610 
Liabilities:
Other liabilities$12 14 
Long-term debt889 1,409 
Total liabilities$901 1,423 

In a securitization transaction that occurred in August of 2023, the Bancorp transferred $1.74 billion in aggregate automobile loans to a bankruptcy remote trust which was deemed to be a VIE. This trust then issued approximately $1.58 billion of asset-backed notes, of which approximately $79 million were retained by the Bancorp. Additionally, as a result of a previous business acquisition, the Bancorp acquired interests in a completed securitization transaction in which solar energy installation loans were transferred to a bankruptcy remote trust which was deemed to be a VIE. Refer to Note 17 for more information.

In each of these securitization transactions, the primary purposes of the VIEs were to issue asset-backed securities with varying levels of credit subordination and payment priority, as well as residual interests, and to provide access to liquidity for originated loans. The Bancorp retained residual interests in the VIEs and, therefore, has an obligation to absorb losses and a right to receive benefits from the VIEs that could potentially be significant to the VIEs. In addition, the Bancorp retained servicing rights for the underlying loans and, therefore, holds the power to direct the activities of the VIEs that most significantly impact the economic performance of the VIEs. As a result, the Bancorp concluded that it is the primary beneficiary of the VIEs and has consolidated these VIEs. The assets of the VIEs are restricted to the settlement of the asset-backed securities and other obligations of the VIEs. The third-party holders of the asset-backed notes do not have recourse to the general assets of the Bancorp.

The economic performance of the VIEs is most significantly impacted by the performance of the underlying loans. The principal risks to which the VIEs are exposed include credit risk and prepayment risk. The credit and prepayment risks are managed through credit enhancements in the form of reserve accounts, over-collateralization, excess interest on the loans and the subordination of certain classes of asset-backed securities to other classes.
Non-consolidated VIEs
The following tables provide a summary of assets and liabilities carried on the Consolidated Balance Sheets related to non-consolidated VIEs for which the Bancorp holds an interest, but is not the primary beneficiary of the VIE, as well as the Bancorp’s maximum exposure to losses associated with its interests in the entities as of:
December 31, 2024 ($ in millions)Total AssetsTotal LiabilitiesMaximum Exposure
CDC investments$2,179 741 2,224 
Private equity investments268 — 487 
Loans provided to VIEs4,711 — 7,529 
Lease pool entities30 — 30 
Solar loan securitizations8 — 8 
December 31, 2023 ($ in millions)Total AssetsTotal LiabilitiesMaximum Exposure
CDC investments$2,007 690 2,054 
Private equity investments230 — 400 
Loans provided to VIEs4,274 — 6,395 
Lease pool entities42 — 42 
Solar loan securitizations9 — 9 

CDC investments
CDC invests in projects to create affordable housing and revitalize business and residential areas. CDC generally co-invests with other unrelated companies and/or individuals and typically makes investments in a separate legal entity that owns the property under development. The entities are usually formed as limited partnerships and LLCs and CDC typically invests as a limited partner/investor member in the form of equity contributions. The economic performance of the VIEs is driven by the performance of their underlying investment projects as well as the VIEs’ ability to operate in compliance with the rules and regulations necessary for the qualification of tax credits generated by equity investments. The Bancorp has determined that it is not the primary beneficiary of these VIEs because it lacks the power to direct the activities that most significantly impact the economic performance of the underlying project or the VIEs’ ability to operate in compliance with the rules and regulations necessary for the qualification of tax credits generated by equity investments. This power is held by the managing members who exercise full and exclusive control of the operations of the VIEs. For information regarding the Bancorp’s accounting for these investments, refer to Note 1.

The Bancorp’s funding requirements are limited to its invested capital and any additional unfunded commitments for future equity contributions. The Bancorp’s maximum exposure to loss as a result of its involvement with the VIEs is limited to the carrying amounts of the investments, including the unfunded commitments. The carrying amounts of these investments, which are included in other assets in the Consolidated Balance Sheets, and the liabilities related to the unfunded commitments, which are included in other liabilities in the Consolidated Balance Sheets, are included in the previous tables for all periods presented. Certain CDC investments include undrawn liquidity and lending commitments which are included in the maximum exposure amount but not included in the Consolidated Balance Sheets. The Bancorp has no other liquidity arrangements or obligations to purchase assets of the VIEs that would expose the Bancorp to a loss. In certain arrangements, the general partner/managing member of the VIE has guaranteed a level of projected tax credits to be received by the limited partners/investor members, thereby minimizing a portion of the Bancorp’s risk.

The Bancorp utilizes the proportional amortization method to account for its qualifying investments in projects that are related to certain income tax credit programs. Effective with the adoption of ASU 2023-02 on January 1, 2024, these tax credit programs include the LIHTC program established under Section 42 of the IRC, the New Markets Tax Credit program established under Section 45D of the IRC and the Rehabilitation Investment Tax Credit program established under Section 47 of the IRC. Prior to the adoption of ASU 2023-02 on January 1, 2024, the Bancorp utilized the proportional amortization method for its LIHTC investments but other tax credit program investments were accounted for under the equity method.

At December 31, 2024 and 2023, the Bancorp’s CDC investments included $2.0 billion and $1.6 billion, respectively, of tax credit program investments accounted for under the proportional amortization method. The unfunded commitments related to these investments were $741 million and $684 million at December 31, 2024 and 2023, respectively. The unfunded commitments as of December 31, 2024 are expected to be funded from 2025 to 2041.
The following table summarizes the impacts to the Consolidated Statements of Income related to the Bancorp’s tax credit program investments for the years ended December 31:
($ in millions)
Consolidated Statements of Income Caption(a)
202420232022
Proportional amortizationApplicable income tax expense$200 200 189 
Tax credits and other benefits(b)
Applicable income tax expense(248)(230)(219)
Changes in carrying amounts of equity method investments(c)
Other noninterest expense8 — — 
(a)The Bancorp did not recognize impairment losses resulting from the forfeiture or ineligibility of tax credits or other circumstances during the years ended December 31, 2024, 2023 and 2022.
(b)The related cash flows are classified as operating activities in the Consolidated Statements of Cash Flows primarily in net change in other assets.
(c)These amounts pertain to tax credit program investments which were accounted for under the equity method as they did not meet the qualification criteria for the proportional amortization method, effective with the adoption of ASU 2023-02.

Private equity investments
The Bancorp invests as a limited partner in private equity investment funds which provide the Bancorp an opportunity to obtain higher rates of return on invested capital, while also providing strategic opportunities in certain cases. Each of the limited partnerships has an unrelated third-party general partner responsible for appointing the fund manager. The Bancorp has not been appointed fund manager for any of these private equity investments. The funds finance primarily all of their activities from the partners’ capital contributions and investment returns. The Bancorp has determined that it is not the primary beneficiary of the funds because it does not have the obligation to absorb the funds’ expected losses or the right to receive the funds’ expected residual returns that could potentially be significant to the funds and lacks the power to direct the activities that most significantly impact the economic performance of the funds. The Bancorp, as a limited partner, does not have substantive participating or substantive kick-out rights over the general partner. Therefore, the Bancorp accounts for its investments in these limited partnerships under the equity method of accounting.

The Bancorp is exposed to losses arising from the negative performance of the underlying investments in the private equity investment funds. As a limited partner, the Bancorp’s maximum exposure to loss is limited to the carrying amounts of the investments plus unfunded commitments. The carrying amounts of these investments, which are included in other assets in the Consolidated Balance Sheets, are presented in previous tables. Also, at December 31, 2024 and 2023, the Bancorp’s unfunded commitment amounts to the private equity funds were $219 million and $170 million, respectively. As part of previous commitments, the Bancorp made capital contributions to private equity investments of $49 million and $47 million during the years ended December 31, 2024 and 2023, respectively.

Loans provided to VIEs
The Bancorp has provided funding to certain unconsolidated VIEs sponsored by third parties. These VIEs are generally established to finance certain consumer and business loans originated by third parties. The entities are primarily funded through the issuance of a loan from the Bancorp or a syndication through which the Bancorp is involved. The sponsor/administrator of the entities is responsible for servicing the underlying assets in the VIEs. Because the sponsor/administrator, not the Bancorp, holds the servicing responsibilities, which include the establishment and employment of default mitigation policies and procedures, the Bancorp does not hold the power to direct the activities that most significantly impact the economic performance of the entity and, therefore, is not the primary beneficiary.

The principal risk to which these entities are exposed is credit risk related to the underlying assets. The Bancorp’s maximum exposure to loss is equal to the carrying amounts of the loans and unfunded commitments to the VIEs. The Bancorp’s outstanding loans to these VIEs are included in commercial loans in Note 5. As of December 31, 2024 and 2023, the Bancorp’s unfunded commitments to these entities were $2.8 billion and $2.1 billion, respectively. The loans and unfunded commitments to these VIEs are included in the Bancorp’s overall analysis of the ALLL and reserve for unfunded commitments, respectively. The Bancorp does not provide any implicit or explicit liquidity guarantees or principal value guarantees to these VIEs.

Lease pool entities
The Bancorp is a co-investor with other unrelated leasing companies in three LLCs designed for the purpose of purchasing pools of residual interests in leases which have been originated or purchased by the other investing member. For each LLC, the leasing company is the managing member and has full authority over the day-to-day operations of the entity. While the Bancorp holds more than 50% of the equity interests in each LLC, the operating agreements require both members to consent to significant corporate actions, such as liquidating the entity or removing the manager. In addition, the Bancorp has a preference with regards to distributions such that all of the Bancorp’s equity contribution for each pool must be distributed, plus a pre-defined rate of return, before the other member may receive distributions. The leasing company is also entitled to the return of its investment plus a pre-defined rate of return before any residual profits are distributed to the members.

The lease pool entities are primarily subject to risk of losses on the lease residuals purchased. The Bancorp’s maximum exposure to loss is equal to the carrying amount of the investments. The Bancorp has determined that it is not the primary beneficiary of these VIEs because it does not have the power to direct the activities that most significantly impact the economic performance of the entities. This power is held by the leasing company, who as managing member controls the servicing of the leases and collection of the proceeds on the residual interests.
Solar loan securitizations
As a result of a previous business acquisition, the Bancorp acquired interests in completed securitization transactions in which solar energy installation loans were transferred to bankruptcy remote trusts which were deemed to be VIEs. In each of these securitization transactions, the primary purposes of the VIEs were to issue asset-backed securities with varying levels of credit subordination and payment priority, as well as residual interests, and to provide access to liquidity for originated loans. The Bancorp retained certain risk retention interests in the classes of securities issued by the VIEs and retained servicing rights for the underlying loans. The Bancorp’s maximum exposure to loss is equal to the carrying amount of the investments. The Bancorp has determined that it is not the primary beneficiary of the VIEs because it does not have the obligation to absorb the VIEs expected losses or the right to receive the VIEs expected residual returns that could potentially be significant to the VIEs. The risk retention interests held by the Bancorp were included in available-for-sale debt and other securities in the Consolidated Balance Sheets.
v3.25.0.1
Sales of Receivables and Servicing Rights
 12 Months Ended
Dec. 31, 2024
Transfers and Servicing [Abstract]  
Sales of Receivables and Servicing Rights Sales of Receivables and Servicing Rights
Residential Mortgage Loan Sales
The Bancorp sold fixed and adjustable-rate residential mortgage loans during the years ended December 31, 2024, 2023 and 2022. In those sales, the Bancorp obtained servicing responsibilities and provided certain standard representations and warranties; however, the investors have no recourse to the Bancorp’s other assets for failure of debtors to pay when due. The Bancorp receives servicing fees based on a percentage of the outstanding balance. The Bancorp identifies classes of servicing assets based on financial asset type and interest rates.

Information related to residential mortgage loan sales and the Bancorp’s mortgage banking activity, which is included in mortgage banking net revenue in the Consolidated Statements of Income, for the years ended December 31 is as follows:
($ in millions)202420232022
Residential mortgage loan sales(a)
$3,954 4,888 13,307 
Origination fees and gains on loan sales67 79 91 
Gross mortgage servicing fees309 319 310 
(a)Represents the unpaid principal balance at the time of the sale.

Servicing Rights
The Bancorp measures all of its mortgage servicing rights at fair value with changes in fair value reported in mortgage banking net revenue in the Consolidated Statements of Income.

The following table presents changes in the servicing rights related to residential mortgage loans for the years ended December 31:
($ in millions)20242023
Balance, beginning of period$1,737 1,746 
Servicing rights originated49 71 
Servicing rights purchased— 25 
Servicing rights sold(5)— 
Changes in fair value:
Due to changes in inputs or assumptions(a)
74 43 
Other changes in fair value(b)
(151)(148)
Balance, end of period$1,704 1,737 
(a)Primarily reflects changes in prepayment speed and OAS assumptions which are updated based on market interest rates.
(b)Primarily reflects changes due to realized cash flows and the passage of time.

The Bancorp maintains a non-qualifying hedging strategy to manage a portion of the risk associated with changes in the value of the MSR portfolio. This strategy may include the purchase of free-standing derivatives and various available-for-sale debt and trading debt securities. The interest income, mark-to-market adjustments and gain or loss from sale activities associated with these portfolios are expected to economically hedge a portion of the change in value of the MSR portfolio caused by fluctuating OAS, earnings rates and prepayment speeds. The fair value of the servicing asset is based on the present value of expected future cash flows.

The following table presents activity related to valuations of the MSR portfolio and the impact of the non-qualifying hedging strategy for the years ended December 31:
($ in millions)202420232022
Securities (losses) gains, net - non-qualifying hedges on mortgage servicing rights$— — (2)
Changes in fair value and settlement of free-standing derivatives purchased to economically
    hedge the MSR portfolio(a)
(88)(43)(363)
MSR fair value adjustment due to changes in inputs or assumptions(a)
74 43 355 
(a)Included in mortgage banking net revenue in the Consolidated Statements of Income.
The key economic assumptions used in measuring the servicing rights related to residential mortgage loans that continued to be held by the Bancorp at the date of sale, securitization or purchase resulting from transactions completed during the years ended December 31 were as follows:
20242023
Weighted-
Average Life
(in years)		Prepayment
Speed
(annual)		OAS    
(bps)    		Weighted-Average Life
(in years)		Prepayment
Speed
(annual)		OAS
(bps)
Fixed-rate6.612.7 %4886.612.4 %596
Adjustable-rate— — —3.027.9 774

At December 31, 2024 and 2023, the Bancorp serviced $94.2 billion and $100.8 billion, respectively, of residential mortgage loans for other investors. The value of MSRs that continue to be held by the Bancorp is subject to credit, prepayment and interest rate risks on the sold financial assets. The weighted-average coupon of the MSR portfolio was 3.79% and 3.72% at December 31, 2024 and 2023, respectively.

At December 31, 2024, the sensitivity of the current fair value of residual cash flows to immediate 10%, 20% and 50% adverse changes in prepayment speed assumptions and immediate 10% and 20% adverse changes in OAS for servicing rights related to residential mortgage loans are as follows:
($ in millions)(a)
Fair ValueWeighted-
Average Life
(in years)		Prepayment Speed AssumptionOAS Assumption
Impact of Adverse Change
on Fair Value		OAS 
(bps)		Impact of Adverse 
Change on Fair Value
Rate 10%20%50%10%20%
Fixed-rate$1,701 8.65.8 %$(37)(72)(168)459$(35)(69)
Adjustable-rate3 5.116.9 — — (1)731— — 
(a)The impact of the weighted-average default rate on the current fair value of residual cash flows for all scenarios is immaterial.

These sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on these variations in the assumptions typically cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. The Bancorp believes that variations of these levels are reasonably possible; however, there is the potential that adverse changes in key assumptions could be even greater. Also, in the previous table, the effect of a variation in a particular assumption on the fair value of the interests that continue to be held by the Bancorp is calculated without changing any other assumption; in reality, changes in one factor may result in changes in another (for example, increases in market interest rates may result in lower prepayments), which might magnify or counteract these sensitivities.
v3.25.0.1
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
The Bancorp maintains an overall risk management strategy that incorporates the use of derivative instruments to reduce certain risks related to interest rate, prepayment and foreign currency volatility. Additionally, the Bancorp holds derivative instruments for the benefit of its commercial customers and for other business purposes. The Bancorp does not enter into unhedged speculative derivative positions.

The Bancorp’s interest rate risk management strategy involves modifying the repricing characteristics of certain financial instruments so that changes in interest rates do not adversely affect the Bancorp’s net interest margin and cash flows. Derivative instruments that the Bancorp may use as part of its interest rate risk management strategy include interest rate swaps, interest rate floors, interest rate caps, forward contracts, forward starting interest rate swaps, options, swaptions and TBA securities. Interest rate swap contracts are exchanges of interest payments, such as fixed-rate payments for floating-rate payments, based on a stated notional amount and maturity date. Interest rate floors protect against declining rates, while interest rate caps protect against rising interest rates. Forward contracts are contracts in which the buyer agrees to purchase, and the seller agrees to make delivery of, a specific financial instrument at a predetermined price or yield. Options provide the purchaser with the right, but not the obligation, to purchase or sell a contracted item during a specified period at an agreed upon price. Swaptions are financial instruments granting the owner the right, but not the obligation, to enter into or cancel a swap.

Prepayment volatility arises mostly from changes in fair value of the largely fixed-rate MSR portfolio, mortgage loans and mortgage-backed securities. The Bancorp may enter into various free-standing derivatives (principal-only swaps, interest rate swaptions, interest rate floors, mortgage options, TBA securities and interest rate swaps) to economically hedge prepayment volatility. Principal-only swaps are total return swaps based on changes in the value of the underlying mortgage principal-only trust. TBA securities are a forward purchase agreement for a mortgage-backed securities trade whereby the terms of the security are undefined at the time the trade is made.

Foreign currency volatility occurs as the Bancorp enters into certain loans denominated in foreign currencies. Derivative instruments that the Bancorp may use to economically hedge these foreign denominated loans include foreign exchange swaps and forward contracts.

The Bancorp also enters into derivative contracts (including foreign exchange contracts, commodity contracts and interest rate contracts) for the benefit of commercial customers and other business purposes. The Bancorp economically hedges significant exposures related to these free-standing derivatives by entering into offsetting third-party contracts with approved, reputable and independent counterparties with substantially matching terms and currencies. Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. The Bancorp’s exposure is limited to the replacement value of the contracts rather than the notional, principal or contract amounts. Credit risk is minimized through credit approvals, limits, counterparty collateral and monitoring procedures.

The fair value of derivative instruments is presented on a gross basis, even when the derivative instruments are subject to master netting arrangements. Derivative instruments with a positive fair value are reported in other assets in the Consolidated Balance Sheets while derivative instruments with a negative fair value are reported in other liabilities in the Consolidated Balance Sheets. Cash collateral payables and receivables associated with the derivative instruments are not added to or netted against the fair value amounts with the exception of certain variation margin payments that are considered legal settlements of the derivative contracts. For derivative contracts cleared through certain central clearing parties who have modified their rules to treat variation margin payments as settlements, the variation margin payments are applied to net the fair value of the respective derivative contracts.

The Bancorp’s derivative contracts include certain contractual features in which either the Bancorp or the counterparties may be required to provide collateral, typically in the form of cash or securities, as initial margin and to offset changes in the fair value of the derivatives, including changes in the fair value due to credit risk, either of the Bancorp or the counterparty. In measuring the fair value of its derivative contracts, the Bancorp considers its own credit risk, taking into consideration collateral maintenance requirements of certain derivative counterparties and the duration of instruments with counterparties that do not require collateral maintenance.

As of December 31, 2024 and 2023, the balance of collateral held by the Bancorp for derivative assets was $947 million and $1.3 billion, respectively. For derivative contracts cleared through certain central clearing parties whose rules treat variation margin payments as settlements of the derivative contract, the payments for variation margin of $403 million and $587 million as of December 31, 2024 and 2023, respectively, were applied to reduce the respective derivative contracts and were also not included in the total amount of collateral held. As of December 31, 2024 and 2023, the credit component negatively impacting the fair value of derivative assets associated with customer accommodation contracts was $4 million and $7 million, respectively.

As of both December 31, 2024 and 2023, the balance of collateral posted by the Bancorp, as either initial margin or due to changes in fair value of the related derivative contracts, was $1.1 billion. Additionally, as of December 31, 2024 and 2023, $1.2 billion and $721 million, respectively, of variation margin payments were applied to the respective derivative contracts to reduce the Bancorp’s derivative liabilities and were also not included in the total amount of collateral posted. Certain of the Bancorp’s derivative liabilities contain credit risk-related contingent features that could result in the requirement to post additional collateral upon the occurrence of specified events. As of December 31, 2024 and 2023, the fair value of the additional collateral that could be required to be posted as a result of the credit risk-related contingent features being triggered was immaterial to the Bancorp’s Consolidated Financial Statements. The posting of collateral has been determined to remove the need for further consideration of credit risk. As a result, the Bancorp determined that the impact of the Bancorp’s credit risk to the valuation of its derivative liabilities was immaterial to the Bancorp’s Consolidated Financial Statements.
The Bancorp holds certain derivative instruments that qualify for hedge accounting treatment and are designated as either fair value hedges or cash flow hedges. Derivative instruments that do not qualify for hedge accounting treatment, or for which hedge accounting is not established, are held as free-standing derivatives. All customer accommodation derivatives are held as free-standing derivatives.

The following tables reflect the notional amounts and fair values for all derivative instruments included in the Consolidated Balance Sheets as of:
Fair Value
December 31, 2024 ($ in millions)Notional
Amount		Derivative
Assets		Derivative
Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt$4,955 1 12 
Total fair value hedges1 12 
Cash flow hedges:
Interest rate swaps related to C&I loans11,000 2 4 
Interest rate swaps related to C&I loans - forward starting(a)
1,000 1 — 
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)
4,000 3 — 
Total cash flow hedges6 4 
Total derivatives designated as qualifying hedging instruments7 16 
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSR portfolio3,135 4 4 
Forward contracts related to residential mortgage loans measured at fair value(b)
881 8 — 
Swap associated with the sale of Visa, Inc. Class B Shares2,465 — 170 
Foreign exchange contracts104 2 — 
Interest-only strips30 — — 
Interest rate contracts for collateral management1,000 1 — 
Interest rate contracts for LIBOR transition597 — — 
Other43 — — 
Total free-standing derivatives - risk management and other business purposes15 174 
Free-standing derivatives - customer accommodation:
Interest rate contracts(c)
87,928 708 924 
Interest rate lock commitments264 2 — 
Commodity contracts16,889 575 564 
TBA securities44 — — 
Foreign exchange contracts38,640 1,165 1,120 
Total free-standing derivatives - customer accommodation2,450 2,608 
Total derivatives not designated as qualifying hedging instruments2,465 2,782 
Total$2,472 2,798 
(a)Forward starting swaps will become effective in January and February 2025.
(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments in addition to certain portfolio residential mortgage loans measured at fair value.
(c)Derivative assets and liabilities are presented net of variation margin of $257 and $45, respectively.
Fair Value
December 31, 2023 ($ in millions)Notional
Amount		Derivative
Assets		Derivative
Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt$5,955 — 32 
Total fair value hedges— 32 
Cash flow hedges:
Interest rate floors related to C&I loans3,000 1 — 
Interest rate swaps related to C&I loans8,000 2 11 
Interest rate swaps related to C&I loans - forward starting(a)
6,000 6 1 
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)
4,000 1 1 
Total cash flow hedges10 13 
Total derivatives designated as qualifying hedging instruments10 45 
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSR portfolio3,205 81 — 
Forward contracts related to residential mortgage loans measured at fair value(b)
650 — 5 
Swap associated with the sale of Visa, Inc. Class B Shares4,178 — 168 
Foreign exchange contracts190 — 4 
Interest-only strips39 1 — 
Interest rate contracts for collateral management5,000 1 1 
Interest rate contracts for LIBOR transition597 — — 
Other30 — — 
Total free-standing derivatives - risk management and other business purposes83 178 
Free-standing derivatives - customer accommodation:
Interest rate contracts(c)(d)
95,079 885 1,162 
Interest rate lock commitments252 5 — 
Commodity contracts17,621 1,051 1,018 
TBA securities27 — — 
Foreign exchange contracts37,734 643 596 
Total free-standing derivatives - customer accommodation2,584 2,776 
Total derivatives not designated as qualifying hedging instruments2,667 2,954 
Total$2,677 2,999 
(a)Forward starting swaps will become effective on various dates between June 2024 and February 2025.
(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments in addition to certain portfolio residential mortgage loans measured at fair value.
(c)Derivative assets and liabilities are presented net of variation margin of $335 and $58, respectively.
(d)Includes replacement contracts with a notional amount of approximately $675 million which were the result of certain central clearing parties replacing existing LIBOR-based contracts with multiple separate contracts as part of the LIBOR transition.

Fair Value Hedges
The Bancorp may enter into interest rate swaps to convert its fixed-rate funding to floating-rate or to hedge the exposure to changes in fair value of a recognized asset attributable to changes in the benchmark interest rate. Decisions to enter into these interest rate swaps are made primarily through consideration of the asset/liability mix of the Bancorp, the desired asset/liability sensitivity and interest rate levels. As of December 31, 2024, certain interest rate swaps met the criteria required to qualify for the shortcut method of accounting that permits the assumption of perfect offset. For all designated fair value hedges of interest rate risk as of December 31, 2024 that were not accounted for under the shortcut method of accounting, the Bancorp performed an assessment of hedge effectiveness using regression analysis with changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability attributable to the hedged risk recorded in the same income statement line in current period net income.
The following table reflects the changes in fair value of interest rate contracts, designated as fair value hedges and the changes in fair value of the related hedged items attributable to the risk being hedged, as well as the line items in the Consolidated Statements of Income in which the corresponding gains or losses are recorded:
For the years ended December 31 ($ in millions)Consolidated Statements of Income Caption202420232022
Long-term debt:
Change in fair value of interest rate swaps hedging long-term debtInterest on long-term debt$(66)29 (460)
Change in fair value of hedged long-term debt attributable to the risk
being hedged
Interest on long-term debt65 (26)460 
Available-for-sale debt and other securities:
Change in fair value of interest rate swaps hedging available-for-sale
debt and other securities
Interest on securities— — 8 
Change in fair value of hedged available-for-sale debt and other
securities attributable to the risk being hedged
Interest on securities— — (8)

The following amounts were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of December 31:
($ in millions)Consolidated Balance 
Sheets Caption		20242023
Long-term debt:
Carrying amount of the hedged itemsLong-term debt$4,838 5,899 
Cumulative amount of fair value hedging adjustments included in
the carrying amount of the hedged items
Long-term debt(103)(38)
Available-for-sale debt and other securities:
Cumulative amount of fair value hedging adjustments remaining
for hedged items for which hedge accounting has been discontinued
Available-for-sale debt and other securities(9)(11)

Cash Flow Hedges
The Bancorp may enter into interest rate swaps to convert floating-rate assets and liabilities to fixed rates or to hedge certain forecasted transactions for the variability in cash flows attributable to the contractually specified interest rate. The assets or liabilities may be grouped in circumstances where they share the same risk exposure that the Bancorp desires to hedge. The Bancorp may also enter into interest rate caps and floors to limit cash flow variability of floating-rate assets and liabilities. As of December 31, 2024, all hedges designated as cash flow hedges were assessed for effectiveness using regression analysis. The entire change in the fair value of the interest rate swap included in the assessment of hedge effectiveness is recorded in AOCI and reclassified from AOCI to current period earnings when the hedged item affects earnings. As of December 31, 2024, the maximum length of time over which the Bancorp is hedging its exposure to the variability in future cash flows is 85 months.

Reclassified gains and losses on interest rate contracts related to commercial loans are recorded within interest income in the Consolidated Statements of Income. As of December 31, 2024 and 2023, respectively, $654 million and $372 million of net deferred losses, net of tax, on cash flow hedges were recorded in AOCI in the Consolidated Balance Sheets. As of December 31, 2024, $134 million in net unrealized losses, net of tax, recorded in AOCI are expected to be reclassified into earnings during the next 12 months. This amount could differ from amounts actually recognized due to changes in interest rates, hedge de-designations or the addition of other hedges subsequent to December 31, 2024.

During both the years ended December 31, 2024 and 2023, there were no gains or losses reclassified from AOCI into earnings associated with the discontinuance of cash flow hedges because it was probable that the original forecasted transaction would no longer occur by the end of the originally specified time period or within the additional period of time as defined by U.S. GAAP.

The following table presents the pre-tax net (losses) gains recorded in the Consolidated Statements of Income and in the Consolidated Statements of Comprehensive Income relating to derivative instruments designated as cash flow hedges:
For the years ended December 31 ($ in millions)202420232022
Amount of pre-tax net losses recognized in OCI$(724)(171)(1,006)
Amount of pre-tax net (losses) gains reclassified from OCI into net income(351)(334)99 
Free-Standing Derivative Instruments – Risk Management and Other Business Purposes
As part of its overall risk management strategy relative to its mortgage banking activity, the Bancorp may enter into various free-standing derivatives (principal-only swaps, interest rate swaptions, interest rate floors, mortgage options, TBA securities and interest rate swaps) to economically hedge changes in fair value of its largely fixed-rate MSR portfolio. Principal-only swaps hedge the spread between mortgage rates and benchmark rates because these swaps appreciate in value as a result of tightening spreads. Principal-only swaps also provide prepayment protection by increasing in value when prepayment speeds increase, as opposed to MSRs that lose value in a faster prepayment environment. Receive-fixed/pay-floating interest rate swaps and swaptions increase in value when interest rates do not increase as quickly as expected.

The Bancorp enters into forward contracts and mortgage options to economically hedge the changes in fair value of certain residential mortgage loans held for sale and certain residential mortgage portfolio loans measured at fair value which are due to changes in interest rates. These contracts generally settle within one year or less. IRLCs issued on residential mortgage loan commitments that will be held for sale are also considered free-standing derivative instruments and the interest rate exposure on these commitments is economically hedged primarily with forward contracts. Revaluation gains and losses from free-standing derivatives related to mortgage banking activity are recorded as a component of mortgage banking net revenue in the Consolidated Statements of Income.

In conjunction with the sale of Visa, Inc. Class B Shares in 2009, the Bancorp entered into a total return swap in which the Bancorp will make or receive payments based on subsequent changes in the conversion rate of the Class B Shares into Class A Shares. This total return swap is accounted for as a free-standing derivative. Refer to Note 28 for more information about significant inputs and assumptions used in the valuation of this instrument.

The Bancorp entered into certain interest rate swap contracts for the purpose of managing its collateral positions across two central clearing parties. These interest rate swaps were perfectly offsetting positions that allowed the Bancorp to lower the cash posted as required initial margin at the clearing parties, which reduced its credit exposure to the clearing parties. Given that all relevant terms for these interest rate swaps are offsetting, these trades create no additional market risk for the Bancorp.

As part of the LIBOR to SOFR transition, the Bancorp received certain interest rate swap contracts from the two central clearing parties that have moved from an Effective Federal Funds Rate discounting curve to a SOFR discounting curve. The purpose of these interest rate swaps was to neutralize the impact on collateral requirements due to the change in discounting curves implemented by the central clearing parties.

The net (losses) gains recorded in the Consolidated Statements of Income relating to free-standing derivative instruments used for risk management and other business purposes are summarized in the following table:
For the years ended December 31 ($ in millions)Consolidated Statements of Income Caption202420232022
Interest rate contracts:
Interest rate contracts related to MSR portfolioMortgage banking net revenue$(88)(43)(363)
Forward contracts related to residential mortgage loans measured at fair valueMortgage banking net revenue13 (7)3 
Interest-only stripsOther noninterest income(1)(3)— 
Foreign exchange contracts:
Foreign exchange contracts for risk management purposesOther noninterest income14 (3)12 
Equity contracts:
Swap associated with sale of Visa, Inc. Class B SharesOther noninterest income(138)(94)(84)

Free-Standing Derivative Instruments – Customer Accommodation
The majority of the free-standing derivative instruments the Bancorp enters into are for the benefit of its commercial customers. These derivative contracts are not designated against specific assets or liabilities on the Consolidated Balance Sheets or to forecasted transactions and, therefore, do not qualify for hedge accounting. These instruments include foreign exchange derivative contracts entered into for the benefit of commercial customers involved in international trade to hedge their exposure to foreign currency fluctuations, commodity contracts to hedge such items as natural gas and various other derivative contracts. The Bancorp may economically hedge significant exposures related to these derivative contracts entered into for the benefit of customers by entering into offsetting contracts with approved, reputable, independent counterparties with substantially matching terms. The Bancorp hedges its interest rate exposure on commercial customer transactions by executing offsetting swap agreements with primary dealers. Revaluation gains and losses on interest rate, foreign exchange, commodity and other commercial customer derivative contracts are recorded as a component of capital markets fees or other noninterest income in the Consolidated Statements of Income.

The Bancorp enters into risk participation agreements, under which the Bancorp assumes credit exposure relating to certain underlying interest rate derivative contracts. The Bancorp typically only enters into these risk participation agreements in instances in which the Bancorp has participated in the loan that the underlying interest rate derivative contract was designed to hedge. The Bancorp will make payments under these agreements if a customer defaults on its obligation to perform under the terms of the underlying interest rate derivative contract.
As of December 31, 2024 and 2023, the total notional amount of the risk participation agreements was $3.2 billion and $3.6 billion, respectively, and the fair value was a liability of $5 million and $6 million, respectively, which is included in other liabilities in the Consolidated Balance Sheets. As of December 31, 2024, the risk participation agreements had a weighted-average remaining life of 2.1 years.

The Bancorp’s maximum exposure in the risk participation agreements is contingent on the fair value of the underlying interest rate derivative contracts in an asset position at the time of default. The Bancorp monitors the credit risk associated with the underlying customers in the risk participation agreements through the same risk rating system currently utilized for establishing loss reserves in its loan and lease portfolio.

Risk ratings of the notional amount of risk participation agreements under this risk rating system are summarized in the following table as of December 31:
($ in millions)20242023
Pass$3,138 3,168 
Special mention9 323 
Substandard100 72 
Total$3,247 3,563 

The net gains (losses) recorded in the Consolidated Statements of Income relating to free-standing derivative instruments used for customer accommodation are summarized in the following table:
For the years ended December 31 ($ in millions)Consolidated Statements of Income Caption202420232022
Interest rate contracts:
Interest rate contracts for customers (contract revenue)Capital markets fees$29 35 48 
Interest rate contracts for customers (credit portion of fair value adjustment)Other noninterest expense4 (2)10 
Interest rate lock commitmentsMortgage banking net revenue41 52 16 
Commodity contracts:
Commodity contracts for customers (contract revenue)Capital markets fees18 36 44 
Commodity contracts for customers (credit portion of fair value adjustment)Other noninterest expense1 — — 
Foreign exchange contracts:
Foreign exchange contracts for customers (contract revenue)Capital markets fees74 89 70 
Foreign exchange contracts for customers (contract revenue)Other noninterest income6 (14)8 
Foreign exchange contracts for customers (credit portion of fair value adjustment)Other noninterest expense— 4 (3)

Offsetting Derivative Financial Instruments
The Bancorp’s derivative transactions are generally governed by ISDA Master Agreements and similar arrangements, which include provisions governing the setoff of assets and liabilities between the parties. When the Bancorp has more than one outstanding derivative transaction with a single counterparty, the setoff provisions contained within these agreements generally allow the non-defaulting party the right to reduce its liability to the defaulting party by amounts eligible for setoff, including the collateral received as well as eligible offsetting transactions with that counterparty, irrespective of the currency, place of payment or booking office. The Bancorp’s policy is to present its derivative assets and derivative liabilities on the Consolidated Balance Sheets on a gross basis, even when provisions allowing for setoff are in place. However, for derivative contracts cleared through certain central clearing parties who have modified their rules to treat variation margin payments as settlements, the fair value of the respective derivative contracts is reported net of the variation margin payments.

Collateral amounts included in the tables below consist primarily of cash and highly rated government-backed securities and do not include variation margin payments for derivative contracts with legal rights of setoff for both periods shown.
The following table provides a summary of offsetting derivative financial instruments:
Gross Amount Recognized in the Consolidated Balance Sheets(a)
Gross Amounts Not Offset in the
Consolidated Balance Sheets
Derivatives
Collateral(b)
Net Amount
As of December 31, 2024
Derivative assets$2,470 (1,378)(573)519 
Derivative liabilities2,798 (1,378)(193)1,227 
As of December 31, 2023
Derivative assets$2,672 (1,031)(877)764 
Derivative liabilities2,999 (1,031)(159)1,809 
(a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements.
(b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Consolidated Balance Sheets were excluded from this table.
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Other Assets
 12 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
Other Assets Other Assets
The following table provides the components of other assets included in the Consolidated Balance Sheets as of December 31:
($ in millions)20242023
Partnership investments$2,520 2,326 
Derivative instruments2,472 2,677 
Accounts receivable and drafts-in-process2,381 2,007 
Bank owned life insurance2,135 2,103 
Deferred tax assets1,429 1,438 
Accrued interest and fees receivable796 797 
Operating lease right-of-use assets526 511 
Income tax receivable174 187 
Prepaid expenses142 143 
OREO and other repossessed property32 39 
Worldpay, Inc. TRA receivable— 35 
Other250 275 
Total other assets$12,857 12,538 

In conjunction with Worldpay, Inc.’s IPO in 2012, the Bancorp entered into two TRAs with Worldpay, Inc. The TRAs provide for payments by Worldpay, Inc. to the Bancorp of 85% of the cash savings actually realized as a result of the increase in tax basis that results from the historical or future purchase of equity in Worldpay Holding, LLC from the Bancorp or from the exchange of equity units in Worldpay Holding, LLC for cash or Class A Stock, as well as any tax benefits attributable to payments made under the TRA.

During the fourth quarter of 2019, the Bancorp entered into an agreement with Fidelity National Information Services, Inc. and Worldpay, Inc. under which Worldpay, Inc. was potentially obligated to pay up to approximately $366 million to the Bancorp to terminate and settle a portion of the remaining TRA cash flows, totaling an estimated $720 million, upon the exercise of certain call options by Worldpay, Inc. or certain put options by the Bancorp. In 2019, the Bancorp recognized a gain of approximately $345 million in other noninterest income associated with these options. The Worldpay, Inc. TRA receivable associated with this transaction, recorded in other assets in the Consolidated Balance Sheets, was $35 million as of December 31, 2023. Subsequent to December 31, 2023, the Bancorp received cash from Worldpay, Inc. to settle the receivable that had been recorded as of December 31, 2023 for the remaining put and call options. Neither the Bancorp nor Worldpay, Inc. have any significant remaining rights or obligations under this agreement.
Separate from the impact of the TRA settlement agreement discussed above, the Bancorp recognized $11 million, $22 million and $46 million in other noninterest income in the Consolidated Statements of Income associated with the TRA during the years ended December 31, 2024, 2023 and 2022, respectively. There are no remaining cash flows to be recognized associated with the TRA.
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Short-Term Borrowings
 12 Months Ended
Dec. 31, 2024
Short-Term Debt [Abstract]  
Short-Term Borrowings Short-Term Borrowings
Borrowings with original maturities of one year or less are classified as short-term and include federal funds purchased and other short-term borrowings. Federal funds purchased are excess balances in reserve accounts held at the FRB that the Bancorp purchased from other member banks on an overnight basis. Other short-term borrowings may include FHLB advances, securities sold under repurchase agreements, derivative collateral and other borrowings with original maturities of one year or less.

The following table summarizes short-term borrowings and weighted-average rates:
20242023
($ in millions)AmountRate      AmountRate        
As of December 31:
Federal funds purchased$204 4.30 %$193 5.31 %
Other short-term borrowings4,450 4.39 2,861 5.21 
Average for the years ended December 31:
Federal funds purchased$207 5.21 %$307 4.96 %
Other short-term borrowings3,024 5.18 5,044 4.90 
Maximum month-end balance for the years ended December 31:
Federal funds purchased$247 $1,143 
Other short-term borrowings5,070 7,423 

The following table presents a summary of the Bancorp’s other short-term borrowings as of December 31:
($ in millions)20242023
FHLB advances$4,100 2,500 
Securities sold under repurchase agreements273 330 
Derivative collateral19 3 
Other borrowed money58 28 
Total other short-term borrowings$4,450 2,861 

The Bancorp’s securities sold under repurchase agreements are accounted for as secured borrowings and are collateralized by securities included in available-for-sale debt and other securities and held-to-maturity securities in the Consolidated Balance Sheets. These securities are subject to changes in market value and, therefore, the Bancorp may increase or decrease the level of securities pledged as collateral based upon these movements in market value. As of both December 31, 2024 and 2023, all securities sold under repurchase agreements were secured by agency mortgage-backed securities and the repurchase agreements had an overnight remaining contractual maturity.
At both December 31, 2024 and 2023, the Bancorp’s other borrowed money primarily included obligations recognized by the Bancorp under ASC Topic 860 related to certain loans sold to GNMA and serviced by the Bancorp. Under ASC Topic 860, once the Bancorp has the unilateral right to repurchase the GNMA loans due to the borrower missing three consecutive payments, the Bancorp is considered to have regained effective control over the loan. As such, the Bancorp is required to recognize both the loan and the repurchase liability, regardless of the intent to repurchase the loans.
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Long-Term Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
The following table is a summary of the Bancorp’s long-term borrowings at December 31:
($ in millions)MaturityInterest Rate20242023
Parent Company
Senior:
Fixed-rate notes20243.65%$— 1,500 
Fixed-rate notes20252.375%750 749 
Fixed-rate notes20272.55%748 748 
Fixed-rate/floating-rate notes(c)
20271.707%472 461 
Fixed-rate notes20283.95%648 648 
Fixed-rate/floating-rate notes(c)
20284.055%387 386 
Fixed-rate/floating-rate notes(c)
20286.361%999 1,013 
Fixed-rate/floating-rate notes(c)
20296.339%1,246 1,245 
Fixed-rate/floating-rate notes(c)
20304.772%933 944 
Fixed-rate/floating-rate notes(c)
20304.895%747 — 
Fixed-rate/floating-rate notes(c)
20325.631%996 — 
Fixed-rate/floating-rate notes(c)
20334.337%544 561 
Subordinated:(a)
Fixed-rate notes20244.30%— 750 
Fixed-rate notes20388.25%1,051 1,103 
Subsidiaries
Senior:
Fixed-rate notes20253.95%747 727 
Fixed-rate/floating-rate notes(e)
20255.852%— 996 
Fixed-rate notes20272.25%599 599 
Subordinated:(a)
Fixed-rate notes20263.85%750 749 
Junior subordinated:
 Floating-rate debentures(a)(b)
20356.04%-6.31%54 54 
FHLB advances(d)
2025-20474.91%1,508 1,510 
Notes associated with consolidated VIEs:
Automobile loan securitization2026-20315.13%-5.80%816 1,305 
Solar loan securitization, fixed-rate notes20384.05%-7.00%30 35 
Other2025-2052Varies312 297 
Total$14,337 16,380 
(a)In aggregate, $1.3 billion and $1.5 billion qualifies as Tier 2 capital for regulatory capital purposes for the years ended December 31, 2024 and 2023, respectively.
(b)These rates reflect the floating rates as of December 31, 2024.
(c)This rate reflects the fixed rate in effect as of December 31, 2024.
(d)This rate reflects the weighted-average rate as of December 31, 2024.
(e)This rate reflects the fixed rate in effect as of December 31, 2023.

The Bancorp pays down long-term debt in accordance with contractual terms over maturity periods summarized in the previous table. The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2024 are presented in the following table:
($ in millions)Parent CompanySubsidiariesTotal
2025$750 756 1,506 
2026— 2,429 2,429 
20271,220 613 1,833 
20282,034 587 2,621 
20291,246 82 1,328 
Thereafter4,271 349 4,620 
Total$9,521 4,816 14,337 

At December 31, 2024, the Bancorp’s long-term borrowings consisted of outstanding principal balances of $14.5 billion, net discounts of $13 million, debt issuance costs of $31 million and reductions for mark-to-market adjustments on its hedged debt of $103 million. At December 31, 2023, the Bancorp’s long-term borrowings consisted of outstanding principal balances of $16.5 billion, net discounts of $14
million, debt issuance costs of $32 million and reductions for mark-to-market adjustments on its hedged debt of $38 million. The Bancorp was in compliance with all debt covenants at December 31, 2024 and 2023.

For further information on a subsequent event related to long-term debt, refer to Note 32.

Parent Company Long-Term Borrowings
Senior notes
On March 14, 2018, the Bancorp issued and sold $650 million of senior notes to third-party investors. The senior notes bear a fixed-rate of interest of 3.95% per annum. The notes are unsecured, senior obligations of the Bancorp. Payment of the full principal amounts of the notes is due upon maturity on March 14, 2028. These fixed-rate senior notes will be redeemable by the Bancorp, in whole or in part, on or after the date that is 30 days prior to the maturity date at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest up to, but excluding, the redemption date.

On October 28, 2019, the Bancorp issued and sold $750 million of senior notes to third-party investors. The senior notes bore a fixed-rate of interest of 2.375% per annum and were unsecured, senior obligations of the Bancorp. The notes were outstanding at December 31, 2024 and subsequently matured on January 28, 2025.

On May 5, 2020, the Bancorp issued and sold $750 million of 2.55% senior fixed-rate notes, with a maturity of seven years, due on May 5, 2027. The notes will be redeemable on or after April 5, 2027, in whole or in part, at any time and from time to time, at the Bancorp’s option at a redemption price equal to 100% of the aggregate principal amount of the senior fixed-rate notes being redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. Additionally, the notes will be redeemable at the Bancorp’s option, in whole or in part, at any time or from time to time, on or after November 2, 2020, and prior to April 5, 2027, in each case at a redemption price, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date, equal to the greater of: (a) 100% of the aggregate principal amount of the senior fixed-rate notes being redeemed on that redemption date; and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the senior fixed-rate notes being redeemed that would be due if the senior fixed-rate notes to be redeemed matured on April 5, 2027 (not including any portion of such payments of interest accrued to the redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus 35 bps.

On November 1, 2021, the Bancorp issued and sold $500 million of fixed-rate/floating-rate senior notes which will mature on November 1, 2027. The senior notes bear a fixed rate of interest of 1.707% per annum to, but excluding, November 1, 2026. From, and including, November 1, 2026 until, but excluding, November 1, 2027, the senior notes will have an interest rate of compounded SOFR plus 0.685%. The Bancorp entered into an interest rate swap designated as a fair value hedge to convert the fixed-rate period of the notes to a floating rate of compounded SOFR plus 69 bps, and the Bancorp paid a rate of 5.34% at December 31, 2024. The notes will be redeemable in whole, but not in part, by the Bancorp on November 1, 2026, the date that is one year prior to the maturity date, at a redemption price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. In addition, the notes will be redeemable, in whole or in part, by the Bancorp on or after the date that is 30 days prior to the maturity date at a redemption price equal to 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date.

On April 25, 2022, the Bancorp issued and sold $1 billion of fixed-rate/floating-rate senior notes. $400 million of the notes will bear interest at a rate of 4.055% per annum to, but excluding, April 25, 2027, followed by an interest rate of compounded SOFR plus 1.355% until maturity on April 25, 2028. The remaining $600 million of the notes will bear interest at a rate of 4.337% per annum to, but excluding, April 25, 2032, followed by an interest rate of compounded SOFR plus 1.660% until maturity on April 25, 2033. The Bancorp entered into interest rate swaps designated as fair value hedges to convert the fixed-rate periods of the notes to a floating rate of compounded SOFR plus 1.357% and a floating rate of compounded SOFR plus 1.666% for the notes due April 25, 2028 and the notes due April 25, 2033, respectively. The Bancorp paid rates on these swaps of 5.91% and 6.22%, respectively, at December 31, 2024. Each tranche of notes is redeemable in whole at par plus accrued and unpaid interest one year prior to its maturity date, or may be wholly or partially redeemed 30 days or 90 days prior to maturity for the 2028 notes and the 2033 notes, respectively.

On July 28, 2022, the Bancorp issued and sold $1 billion of fixed-rate/floating-rate senior notes which will mature on July 28, 2030. The senior notes bear interest at a rate of 4.772% per annum to, but excluding, July 28, 2029. From, and including July 28, 2029 until, but excluding July 28, 2030, the senior notes will bear interest at a rate of compounded SOFR plus 2.127%. The Bancorp entered into interest rate swaps designated as fair value hedges to convert the fixed-rate period of the notes to a floating rate of compounded SOFR plus 2.132%, and the Bancorp paid a rate of 6.67% at December 31, 2024. The senior notes are redeemable in whole at par plus accrued and unpaid interest one year prior to their maturity date, or may be wholly or partially redeemed 60 days prior to maturity.

On October 27, 2022, the Bancorp issued and sold $1 billion of fixed-rate/floating-rate senior notes which will mature on October 27, 2028. The senior notes will bear interest at a rate of 6.361% per annum to, but excluding, October 27, 2027. From, and including October 27, 2027 until, but excluding October 27, 2028, the senior notes will bear interest at a rate of compounded SOFR plus 2.192%. The Bancorp entered into an interest rate swap designated as a fair value hedge to convert the fixed-rate period of the notes to a floating rate of compounded SOFR
plus 2.193%, and the Bancorp paid a rate of 6.74% at December 31, 2024. The senior notes are redeemable in whole at par plus accrued and unpaid interest one year prior to their maturity date, or may be wholly or partially redeemed on or after 30 days prior to maturity. Additionally, the senior notes are redeemable at the Bancorp’s option, in whole or in part, beginning 180 days after the issue date and prior to October 27, 2027, at the greater of: (a) the aggregate principal amount of the senior notes being redeemed, or (b) the discounted present value of the remaining scheduled payments of principal and interest that would be due if the senior notes being redeemed matured on October 27, 2027.

On July 27, 2023, the Bancorp issued and sold $1.25 billion of fixed-rate/floating-rate senior notes which will mature on July 27, 2029. The senior notes bear interest at a rate of 6.339% per annum to, but excluding, July 27, 2028. From, and including, July 27, 2028 until, but excluding, July 27, 2029, the senior notes will bear interest at a rate of compounded SOFR plus 2.340%. The senior notes are redeemable in whole at par plus accrued and unpaid interest one year prior to their maturity date, or may be wholly or partially redeemed on or after 30 days prior to maturity. Additionally, the senior notes are redeemable at the Bancorp’s option, in whole or in part, beginning 180 days after the issue date and prior to July 27, 2028, at the greater of: (a) the aggregate principal amount of the senior notes being redeemed, or (b) the discounted present value of the remaining scheduled payments of principal and interest that would be due if the senior notes being redeemed matured on July 27, 2028.

On January 29, 2024, the Bancorp issued and sold $1.0 billion of fixed-rate/floating-rate senior notes which will mature on January 29, 2032. The senior notes will bear interest at a rate of 5.631% per annum to, but excluding, January 29, 2031. From, and including, January 29, 2031 until, but excluding January 29, 2032, the senior notes will bear interest at a rate of compounded SOFR plus 1.840%. The senior notes are redeemable in whole one year prior to their maturity date, or in whole or in part beginning 60 days prior to maturity, at par plus accrued and unpaid interest. Additionally, the senior notes are redeemable at the Bancorp’s option, in whole or in part, beginning 180 days after the issue date and prior to January 29, 2031, at the greater of: (a) the aggregate principal amount of the senior notes being redeemed, plus accrued and unpaid interest, or (b) the present value of the remaining scheduled payments of principal and interest.

On September 6, 2024, the Bancorp issued and sold $750 million of fixed-rate/floating-rate senior notes which will mature on September 6, 2030. The senior notes will bear interest at a rate of 4.895% per annum to, but excluding, September 6, 2029. From, and including, September 6, 2029 until, but excluding, September 6, 2030, the senior notes will bear interest at a rate of compounded SOFR plus 1.486%. The senior notes are redeemable in whole one year prior to their maturity date, or in whole or in part beginning 30 days prior to maturity, at par plus accrued and unpaid interest. Additionally, the senior notes are redeemable at the Bancorp’s option, in whole or in part, beginning 180 days after the issue date and prior to September 6, 2029, at the greater of: (a) the aggregate principal amount of the senior notes being redeemed, plus accrued and unpaid interest, or (b) the present value of the remaining scheduled payments of principal and interest.

Subordinated debt
The Bancorp has entered into interest rate swaps to convert part of its subordinated fixed-rate notes due in 2038 to a floating rate. Of the $1.0 billion in 8.25% subordinated fixed-rate notes due in 2038, the Bancorp entered into an interest rate swap designated as a fair value hedge to convert $705 million of the notes to a floating rate of compounded SOFR plus 3.31%, and the Bancorp paid a rate of 8.20% on the hedged portion of these notes at December 31, 2024.

Subsidiary Long-Term Borrowings
Senior and subordinated debt
Medium-term senior notes and subordinated bank notes with maturities ranging from one year to 30 years can be issued by the Bancorp’s banking subsidiary. Under the Bancorp’s banking subsidiary’s global bank note program, the Bank’s capacity to issue its senior and subordinated unsecured bank notes is $25.0 billion. As of December 31, 2024, $20.4 billion was available for future issuance under the global bank note program.

On March 15, 2016, the Bank issued and sold, under its bank notes program, $750 million of 3.85% subordinated fixed-rate notes due on March 15, 2026. These bank notes will be redeemable by the Bank, in whole or in part, on or after the date that is 30 days prior to the maturity date at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest up to, but excluding, the redemption date.

On July 26, 2018, the Bank issued and sold, under its bank notes program, $750 million of 3.95% senior fixed-rate notes due on July 28, 2025. The Bank entered into interest rate swaps designated as fair value hedges to convert these fixed-rate notes to a floating rate of compounded SOFR plus 1.16%, and the Bancorp paid a rate of 5.70% at December 31, 2024. These bank notes will be redeemable by the Bank, in whole or in part, on or after the date that is 30 days prior to the maturity date at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest up to, but excluding, the redemption date.
On January 31, 2020, the Bank issued and sold, under its bank notes program, $600 million of 2.25% senior fixed-rate notes due on February 1, 2027. The notes will be redeemable at the Bank’s option, in whole or in part, at any time or from time to time, on or after July 31, 2020, and prior to January 4, 2027, at a redemption price, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date, equal to the greater of: (a) 100% of the aggregate principal amount of the notes being redeemed on that redemption date; and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed that would be due if the notes
to be redeemed matured on January 4, 2027. Additionally, the notes will also be redeemable by the Bank, in whole or in part, on or after January 4, 2027, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest up to, but excluding, the redemption date.

Junior subordinated debt
The junior subordinated floating-rate debentures due in 2035 were assumed by the Bancorp’s direct nonbank subsidiary holding company as part of the acquisition of First Charter in June 2008. The obligation was issued to First Charter Capital Trust I and II. The floating-rate capital securities of First Charter Capital Trust I and II pay a floating rate at three-month CME Term SOFR plus 1.69% and 1.42%, respectively, plus the tenor spread adjustment of 0.26161%. The Bancorp’s nonbank subsidiary holding company has fully and unconditionally guaranteed all obligations under the acquired TruPS issued by First Charter Capital Trust I and II.

FHLB advances
At December 31, 2024, FHLB advances have a weighted-average rate of 4.91%, with interest payable monthly. The Bancorp has pledged $36.6 billion of loans and securities to secure its borrowing capacity at the FHLB which is partially utilized to fund $1.5 billion in FHLB advances that are outstanding. The FHLB advances mature as follows: $3 million in 2025, $1.5 billion in 2026 and $5 million after 2029.

Notes associated with consolidated VIEs
As discussed in Note 12, the Bancorp was determined to be the primary beneficiary of various VIEs associated with certain automobile and solar loan securitizations, including an automobile loan securitization transaction that occurred in August of 2023. Third-party holders of this debt do not have recourse to the general assets of the Bancorp. Approximately $846 million of outstanding notes related to these VIEs were included in long-term debt in the Consolidated Balance Sheets as of December 31, 2024. The notes mature as follows: $169 million in 2026, $550 million in 2028 and $127 million after 2029.
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments, Contingent Liabilities and Guarantees Commitments, Contingent Liabilities and Guarantees
The Bancorp, in the normal course of business, enters into financial instruments and various agreements to meet the financing needs of its customers. The Bancorp also enters into certain transactions and agreements to manage its interest rate and prepayment risks, provide funding, equipment and locations for its operations and invest in its communities. These instruments and agreements involve, to varying degrees, elements of credit risk, counterparty risk and market risk in excess of the amounts recognized in the Consolidated Balance Sheets. The creditworthiness of counterparties for all instruments and agreements is evaluated on a case-by-case basis in accordance with the Bancorp’s credit policies. The Bancorp’s significant commitments, contingent liabilities and guarantees in excess of the amounts recognized in the Consolidated Balance Sheets are discussed in the following sections.

Commitments
The Bancorp has certain commitments to make future payments under contracts. The following table reflects a summary of significant commitments as of December 31:
($ in millions)20242023
Commitments to extend credit$80,680 81,570 
Letters of credit1,952 2,095 
Forward contracts related to residential mortgage loans measured at fair value881 650 
Capital commitments for private equity investments219 170 
Capital expenditures80 95 
Purchase obligations27 69 

Commitments to extend credit
Commitments to extend credit are agreements to lend, typically having fixed expiration dates or other termination clauses that may require payment of a fee. Since many of the commitments to extend credit may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. The Bancorp is exposed to credit risk in the event of nonperformance by the counterparty for the amount of the contract. Fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and the Bancorp’s exposure is limited to the replacement value of those commitments. As of December 31, 2024 and 2023, the Bancorp had a reserve for unfunded commitments, including letters of credit, totaling $134 million and $166 million, respectively, included in other liabilities in the Consolidated Balance Sheets. The Bancorp monitors the credit risk associated with commitments to extend credit using the same standard regulatory risk rating systems utilized for its loan and lease portfolio.

Risk ratings of outstanding commitments to extend credit under this risk rating system are summarized in the following table as of December 31:
($ in millions)20242023
Pass$78,734 79,593 
Special mention850 1,301 
Substandard1,095 676 
Doubtful1 — 
Total commitments to extend credit$80,680 81,570 

Letters of credit
Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party and expire as summarized in the following table as of December 31, 2024:
($ in millions)
Less than 1 year(a)
$980 
1 - 5 years(a)
967 
Over 5 years5 
Total letters of credit$1,952 
(a)Includes $2 and $3 issued on behalf of commercial customers to facilitate trade payments in U.S. dollars and foreign currencies which expire in less than 1 year and between 1 - 5 years, respectively.

Standby letters of credit accounted for approximately 99% of total letters of credit at both December 31, 2024 and 2023 and are considered guarantees in accordance with U.S. GAAP. Approximately 76% and 72% of the total standby letters of credit were collateralized as of December 31, 2024 and 2023, respectively. In the event of nonperformance by the customers, the Bancorp has rights to the underlying collateral, which can include commercial real estate, physical plant and property, inventory, receivables, cash and marketable securities. The reserve related to these standby letters of credit, which was included in the total reserve for unfunded commitments, was $12 million and $20 million at December 31, 2024 and 2023, respectively. The Bancorp monitors the credit risk associated with letters of credit using the same standard regulatory risk rating systems utilized for its loan and lease portfolio.
Risk ratings of outstanding letters of credit under this risk rating system are summarized in the following table as of December 31:
($ in millions)20242023
Pass$1,779 1,902 
Special mention60 81 
Substandard110 112 
Doubtful3 — 
Total letters of credit$1,952 2,095 

At December 31, 2024 and 2023, the Bancorp had outstanding letters of credit that were supporting certain securities issued as VRDNs. The Bancorp facilitates financing for its commercial customers, which consist of companies and municipalities, by marketing the VRDNs to investors. The VRDNs pay interest to holders at a rate of interest that fluctuates based upon market demand. The VRDNs generally have long-term maturity dates, but can be tendered by the holder for purchase at par value upon proper advance notice. When the VRDNs are tendered, a remarketing agent generally finds another investor to purchase the VRDNs to keep the securities outstanding in the market. As of December 31, 2024 and 2023, total VRDNs, of which FTS was the remarketing agent for all, were $356 million and $400 million, respectively. As remarketing agent, FTS is responsible for actively remarketing VRDNs to other investors when they have been tendered. If another investor is not identified, FTS may choose to purchase the VRDNs into inventory at its discretion while it continues to remarket them. If FTS purchases the VRDNs into inventory, it can subsequently tender back the VRDNs to the issuer’s trustee with proper advance notice. The Bancorp issued letters of credit, as a credit enhancement, to $45 million and $83 million of the VRDNs remarketed by FTS at December 31, 2024 and 2023, respectively. These letters of credit are included in the total letters of credit balance provided in the previous tables. The Bancorp held an immaterial amount and $6 million of these VRDNs in its portfolio and classified them as trading debt securities at December 31, 2024 and 2023, respectively.

Forward contracts related to residential mortgage loans measured at fair value
The Bancorp enters into forward contracts and mortgage options to economically hedge the change in fair value of certain residential mortgage loans held for sale, and certain residential mortgage portfolio loans measured at fair value, due to changes in interest rates. The outstanding notional amounts of these forward contracts are included in the summary of significant commitments table for all periods presented.

Other commitments
The Bancorp has entered into a limited number of agreements for work related to banking center construction and to purchase goods or services.

Contingent Liabilities
Legal claims
There are legal claims pending against the Bancorp and its subsidiaries that have arisen in the normal course of business. Refer to Note 19 for additional information regarding these proceedings.

Guarantees
The Bancorp has performance obligations upon the occurrence of certain events under financial guarantees provided in certain contractual arrangements as discussed in the following sections.

Residential mortgage loans sold with representation and warranty provisions
Conforming residential mortgage loans sold to unrelated third parties are generally sold with representation and warranty provisions. A contractual liability arises only in the event of a breach of these representations and warranties and, in general, only when a loss results from the breach. The Bancorp may be required to repurchase any previously sold loan, or indemnify or make whole the investor or insurer for which the representation or warranty of the Bancorp proves to be inaccurate, incomplete or misleading. For more information on how the Bancorp establishes the residential mortgage repurchase reserve, refer to Note 1.

As of December 31, 2024 and 2023, respectively, the Bancorp maintained reserves related to loans sold with representation and warranty provisions totaling $5 million and $7 million, respectively, included in other liabilities in the Consolidated Balance Sheets.

The Bancorp uses the best information available when estimating its mortgage representation and warranty reserve; however, the estimation process is inherently uncertain and imprecise and, accordingly, losses in excess of the amounts reserved as of December 31, 2024 are reasonably possible. The Bancorp currently estimates that it is reasonably possible that it could incur losses related to mortgage representation and warranty provisions in an amount up to approximately $8 million in excess of amounts reserved. This estimate was derived by modifying the key assumptions to reflect management’s judgment regarding reasonably possible adverse changes to those assumptions. The actual repurchase losses could vary significantly from the recorded mortgage representation and warranty reserve or this estimate of reasonably possible losses, depending on the outcome of various factors, including those previously discussed.
During both the years ended December 31, 2024 and 2023, the Bancorp paid an immaterial amount in the form of make-whole payments and repurchased $20 million and $54 million, respectively, in outstanding principal of loans to satisfy investor demands. Total repurchase demand requests during the years ended December 31, 2024 and 2023 were $44 million and $89 million, respectively. Total outstanding repurchase demand inventory was $7 million and $8 million at December 31, 2024 and 2023, respectively.

Margin accounts
FTS, an indirect wholly-owned subsidiary of the Bancorp, guarantees the collection of all margin account balances held by its brokerage clearing agent for the benefit of its customers. FTS is responsible for payment to its brokerage clearing agent for any loss, liability, damage, cost or expense incurred as a result of customers failing to comply with margin or margin maintenance calls on all margin accounts. The margin account balances held by the brokerage clearing agent were $16 million and $6 million at December 31, 2024 and 2023, respectively. In the event of customer default, FTS has rights to the underlying collateral provided. Given the existence of the underlying collateral provided and negligible historical credit losses, the Bancorp does not maintain a loss reserve related to the margin accounts.

Long-term borrowing obligations
The Bancorp had certain fully and unconditionally guaranteed long-term borrowing obligations issued by wholly-owned issuing trust entities of $62 million at both December 31, 2024 and 2023.

Visa litigation
The Bancorp, as a member bank of Visa prior to Visa’s reorganization and IPO (the “IPO”) of its Class A common shares (the “Class A Shares”) in 2008, had certain indemnification obligations pursuant to Visa’s certificate of incorporation and bylaws and in accordance with its membership agreements. In accordance with Visa’s bylaws prior to the IPO, the Bancorp could have been required to indemnify Visa for the Bancorp’s proportional share of losses based on the pre-IPO membership interests. As part of its reorganization and IPO, the Bancorp’s indemnification obligation was modified to include only certain known or anticipated litigation (the “Covered Litigation”) as of the date of the restructuring. This modification triggered a requirement for the Bancorp to recognize a liability equal to the fair value of the indemnification liability.

In conjunction with the IPO, the Bancorp received 10.1 million of Visa’s Class B common shares (the “Class B Shares”) based on the Bancorp’s membership percentage in Visa prior to the IPO. The Class B Shares were not transferable (other than to another member bank) until the later of the third anniversary of the IPO closing or the date on which the Covered Litigation has been resolved; therefore, the Bancorp’s Class B Shares were classified in other assets and accounted for at their carryover basis of $0. Visa deposited $3 billion of the proceeds from the IPO into a litigation escrow account, established for the purpose of funding judgments in, or settlements of, the Covered Litigation. Since then, when Visa’s litigation committee determined that the escrow account was insufficient, Visa issued additional Class A Shares and deposited the proceeds from the sale of the Class A Shares into the litigation escrow account. When Visa funded the litigation escrow account, the Class B Shares were subjected to dilution through an adjustment in the conversion rate of Class B Shares into Class A Shares. On January 23, 2024, Visa announced shareholder approval of changes to its articles of incorporation that would release certain transfer restrictions on portions of Class B Shares. The program will allow holders of Class B Shares to liquidate some of their shares subject to assurances that other Visa stockholders will retain existing protection from exposure to the Covered Litigation.

In 2009, the Bancorp completed the sale of Visa, Inc. Class B Shares and entered into a total return swap in which the Bancorp will make or receive payments based on subsequent changes in the conversion rate of the Class B Shares into Class A Shares. The swap terminates on the later of the third anniversary of Visa’s IPO or the date on which the Covered Litigation is settled. Refer to Note 28 for additional information on the valuation of the swap. The counterparty to the swap as a result of its ownership of the Class B Shares will be impacted by dilutive adjustments to the conversion rate of the Class B Shares into Class A Shares caused by any Covered Litigation losses in excess of the litigation escrow account. If actual judgments in, or settlements of, the Covered Litigation significantly exceed current expectations, then additional funding by Visa of the litigation escrow account and the resulting dilution of the Class B Shares could result in a scenario where the Bancorp’s ultimate exposure associated with the Covered Litigation (the “Visa Litigation Exposure”) exceeds the value of the Class B Shares owned by the swap counterparty (the “Class B Value”). In the event the Bancorp concludes that it is probable that the Visa Litigation Exposure exceeds the Class B Value, the Bancorp would record a litigation reserve liability and a corresponding amount of other noninterest expense for the amount of the excess. Any such litigation reserve liability would be separate and distinct from the fair value derivative liability associated with the total return swap.

As of the date of the Bancorp’s sale of the Visa Class B Shares and through December 31, 2024, the Bancorp has concluded that it is not probable that the Visa Litigation Exposure will exceed the Class B Value. Based on this determination, upon the sale of Class B Shares, the Bancorp reversed its net Visa litigation reserve liability and recognized a free-standing derivative liability associated with the total return swap. The fair value of the swap liability was $170 million and $168 million at December 31, 2024 and 2023, respectively. Refer to Note 14 and Note 28 for further information.
After the Bancorp’s sale of the Class B Shares, Visa has funded additional amounts into the litigation escrow account which have resulted in further dilutive adjustments to the conversion of Class B Shares into Class A Shares, and along with other terms of the total return swap, required the Bancorp to make cash payments in varying amounts to the swap counterparty as follows:
Period ($ in millions)Visa Funding AmountBancorp Cash Payment Amount
Q2 2010$500 20 
Q4 2010800 35 
Q2 2011400 19 
Q1 20121,565 75 
Q3 2012150 6 
Q3 2014450 18 
Q2 2018600 26 
Q3 2019300 12 
Q4 2021250 11 
Q2 2022600 25 
Q4 2022350 15 
Q2 2023500 21 
Q3 2023150 6 
Q3 20241,500 65 
v3.25.0.1
Legal and Regulatory Proceedings
 12 Months Ended
Dec. 31, 2024
Loss Contingency [Abstract]  
Legal and Regulatory Proceedings Legal and Regulatory Proceedings
Litigation
Visa/MasterCard Merchant Interchange Litigation
In April 2006, the Bancorp was added as a defendant in a consolidated antitrust class action lawsuit originally filed against Visa®, MasterCard® and several other major financial institutions in the United States District Court for the Eastern District of New York (In re: Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, Case No. 5-MD-1720). The plaintiffs, merchants operating commercial businesses throughout the U.S. and trade associations, claimed that the interchange fees charged by card-issuing banks were unreasonable and sought injunctive relief and unspecified damages. In addition to being a named defendant, the Bancorp is currently also subject to a possible indemnification obligation of Visa as discussed in Note 18 and has also entered into judgment and loss sharing agreements with Visa, MasterCard and certain other named defendants. In October 2012, the parties to the litigation entered into a settlement agreement that was initially approved by the trial court but reversed by the U.S. Second Circuit Court of Appeals and remanded to the district court for further proceedings. More than 500 of the merchants who requested exclusion from the class filed separate federal lawsuits against Visa, MasterCard and certain other defendants alleging similar antitrust violations. These individual federal lawsuits were transferred to the United States District Court for the Eastern District of New York. While the Bancorp is only named as a defendant in one of the individual federal lawsuits, it may have obligations pursuant to indemnification arrangements and/or the judgment or loss sharing agreements noted above. On September 17, 2018, the defendants in the consolidated class action signed a second settlement agreement (the “Amended Settlement Agreement”) resolving the claims seeking monetary damages by the proposed plaintiffs’ class (the “Plaintiff Damages Class”) and superseding the original settlement agreement entered into in October 2012. The Amended Settlement Agreement included, among other terms, a release from participating class members for liability for claims that accrue no later than five years after the Amended Settlement Agreement becomes final. The Amended Settlement Agreement provided for a total payment by all defendants of approximately $6.24 billion, composed of approximately $5.34 billion held in escrow plus an additional $900 million in new funds. Pursuant to the terms of the Settlement Agreement, $700 million of the additional $900 million has been returned to the defendants due to the level of opt-outs from the class. The Bancorp’s allocated share of the settlement is within existing reserves, including funds maintained in escrow. On December 13, 2019, the Court entered an order granting final approval for the settlement, and on March 15, 2023, the Second Circuit affirmed that order. The settlement does not resolve the claims of the separate proposed plaintiffs’ class seeking injunctive relief or the claims of merchants who have opted out of the proposed class settlement and are pursuing, or may in the future decide to pursue, private lawsuits. Several of the remaining opt-out cases have now been set for a trial scheduled to commence on October 20, 2025 in the matter of Target Corp. et al. v. Visa Inc. et al., Case No. 13 Civ. 3477 (AKH) (S.D.N.Y.). On September 27, 2021, the Court overseeing the class litigation entered an order certifying a class of merchants pursuing claims for injunctive relief. On March 26, 2024, Plaintiffs filed a motion seeking preliminary approval of a settlement that would resolve class claims for injunctive relief. On June 13, 2024, the Court held a hearing on Plaintiffs’ motion for preliminary approval of the injunctive relief settlement, and on June 25, 2024, the Court issued an order denying the request for preliminary approval of the settlement. The ultimate outcome in this matter, including the timing of resolution, remains uncertain. Refer to Note 18 for further information.

Klopfenstein v. Fifth Third Bank
On August 3, 2012, William Klopfenstein and Adam McKinney filed a lawsuit against Fifth Third Bank in the United States District Court for the Northern District of Ohio (Klopfenstein et al. v. Fifth Third Bank), alleging that the 120% APR that Fifth Third disclosed on its Early Access program was misleading. Early Access is a deposit-advance program offered to eligible customers with checking accounts. The plaintiffs sought to represent a nationwide class of customers who used the Early Access program and repaid their cash advances within 30 days. On October 31, 2012, the case was transferred to the United States District Court for the Southern District of Ohio. In 2013, four similar putative class action lawsuits were filed against Fifth Third Bank in federal courts throughout the country (Lori and Danielle Laskaris v. Fifth Third Bank, Janet Fyock v. Fifth Third Bank, Jesse McQuillen v. Fifth Third Bank, and Brian Harrison v. Fifth Third Bank). Those four lawsuits were transferred to the Southern District of Ohio and consolidated with the original lawsuit as In re: Fifth Third Early Access Cash Advance Litigation (Case No. 1:12-CV-851). On behalf of a putative class, the plaintiffs sought unspecified monetary and statutory damages, injunctive relief, punitive damages, attorneys’ fees, and pre- and post-judgment interest. On March 30, 2015, the court dismissed all claims alleged in the consolidated lawsuit except a claim under the TILA. On May 28, 2019, the Sixth Circuit Court of Appeals reversed the dismissal of plaintiffs’ breach of contract claim and remanded for further proceedings. The plaintiffs’ claimed damages for the alleged breach of contract claim exceed $440 million, plus prejudgment interest. On March 26, 2021, the trial court granted plaintiffs’ motion for class certification. On March 29, 2023, the trial court issued an order granting summary judgement on plaintiffs’ TILA claim, with statutory damages capped at $2 million plus costs and attorney fees. Plaintiffs’ claim for breach of contract proceeded to trial beginning on April 17, 2023. On April 27, 2023, the jury returned a verdict in favor of the Bank, finding a breach of contract, but that the voluntary payment doctrine is a complete defense to the breach of contract claim. On September 30, 2024, the trial court issued a decision denying post-trial motions related to the jury verdict. On October 30, 2024, plaintiffs filed a notice of appeal, and on November 7, 2024, Fifth Third filed a notice of cross appeal.

Bureau of Consumer Financial Protection v. Fifth Third Bank, National Association
On March 9, 2020, the CFPB filed a lawsuit against Fifth Third in the United States District Court for the Northern District of Illinois entitled CFPB v. Fifth Third Bank, National Association, Case No. 1:20-CV-1683, alleging violations of the Consumer Financial Protection Act, TILA, and Truth in Savings Act related to Fifth Third’s alleged opening of unspecified numbers of allegedly unauthorized credit card, savings, checking, online banking and early access accounts from 2010 through 2016. The parties agreed to the entry of a Stipulated Final
Judgment and Order on July 9, 2024 to resolve this matter, pursuant to which Fifth Third, without admitting or denying any of the allegations in the suit except as specified in the order, agreed to pay a civil monetary penalty of $15 million, agreed to maintain existing policies around its consumer sales incentives, agreed to create a compliance plan to ensure its account opening practices comply with law and the order and agreed to provide a redress plan to remediate certain customers with checking, savings, or credit card accounts opened beginning January 1, 2010 and ending December 31, 2016.

Concurrently with the Stipulated Final Judgment and Order, Fifth Third, without admitting or denying any of the findings of fact or conclusions of law (except to establish jurisdiction), has also agreed to entry of a Consent Order related to a since-discontinued program in its auto lending business that placed collateral protection insurance on certain auto loans. Under the Consent Order, Fifth Third has agreed to pay a $5 million civil monetary penalty related to those issues, maintain existing policy changes related to its auto servicing practices, agreed to create a compliance plan to ensure its compliance with the order and provide a redress plan to remediate certain customers within a redress period beginning July 21, 2011 and ending December 31, 2020.

Howards v. Fifth Third Bank
On March 8, 2018, Plaintiff Troy Howards filed a putative class action against Fifth Third Bank in the United States District Court for the Central District of California (Case No. 1:18-CV-869, S.D. OH 2018), alleging that Fifth Third improperly charged certain fees related to insufficient funds, customer overdrafts, and out-of-network ATM use. Venue was subsequently transferred to the United States District Court for the Southern District of Ohio. Plaintiff filed claims for breach of contract, breach of the implied covenant of good faith and fair dealing, for violation of the California Unfair Competition Law (Ca. Bus. & Prof. Code sec. 17200, et seq.), and the California Consumer Legal Remedies Act (Cal. Civ. Code sec. 1750 et seq.). Plaintiff seeks to represent putative nationwide classes and California classes of consumers allegedly charged improper repeated insufficient funds fees, improper overdraft fees, and fees for out-of-network ATM use from the beginning of the applicable statute of limitations to present. Plaintiff seeks damages of restitution and disgorgement in the amount of the allegedly unlawfully charged fees, damages proved at trial together with interest as allowed by applicable law. Fifth Third filed a motion to dismiss all claims. On February 6, 2023, the trial court issued an order dismissing the Plaintiff’s breach of contract claim with respect to out-of-network ATM fees and dismissing the two claims for violations of California consumer protection statutes. The Court denied Fifth Third’s motion to dismiss as it relates to the claims for breach of contract and breach of the implied covenant of good faith and fair dealing for certain customer overdrafts and insufficient funds fees. The case is in discovery, and no trial date has been set.

Other litigation
The Bancorp and its subsidiaries are not parties to any other material litigation at this time. However, there are other litigation matters that arise in the normal course of business, which include, or may include, claims related to product features, pricing and other lending practices. For example, Fifth Third Bank, National Association is currently responding to lawsuits regarding bankruptcies and practices of residential solar installers as well as lending practices of credit providers to this market, which includes Dividend Solar Finance, LLC, which the Bank acquired in May 2022. While it is impossible to ascertain the ultimate resolution or range of financial liability with respect to these contingent matters, management believes that the resulting liability, if any, from these other actions would not have a material effect upon the Bancorp’s consolidated financial position, results of operations or cash flows. However, it is possible that the ultimate resolution of a matter, if unfavorable, may be material to the Bancorp’s consolidated financial position, results of operations or cash flows.

Governmental Investigations and Proceedings
The Bancorp and/or its affiliates are or may become involved in information-gathering requests, reviews, investigations and proceedings (both formal and informal) by various governmental regulatory agencies and law enforcement authorities, including but not limited to the FRB, OCC, CFPB, SEC, FINRA, U.S. Department of Justice, etc., as well as state and other governmental authorities and self-regulatory bodies regarding their respective businesses. For example, Fifth Third Bank, National Association is currently cooperating with investigations related to several civil investigative demands by a number of state attorneys general regarding the residential solar installation industry and lending practices of credit providers to this market, which includes Dividend Solar Finance, LLC, which the Bank acquired in May 2022. Among these are investigations related to multiple lenders by a coalition of 17 state attorneys general relating to the Chapter 7 bankruptcy filing of one such installer, Power Home Solar, LLC, dba Pink Energy. Dividend Solar Finance, LLC financed installations of Power Home Solar, LLC customers in 11 of the 17 states represented by the coalition. Additional matters will likely arise from time to time. Any of these matters may result in material adverse consequences or reputational harm to the Bancorp, its affiliates and/or their respective directors, officers and other personnel, including adverse judgments, findings, settlements, fines, penalties, orders, injunctions or other actions, amendments and/or restatements of the Bancorp’s SEC filings and/or financial statements, as applicable, and/or determinations of material weaknesses in our disclosure controls and procedures. Investigations by regulatory authorities may from time to time result in civil or criminal referrals to law enforcement. Additionally, in some cases, regulatory authorities may take supervisory actions that are considered to be confidential supervisory information which may not be publicly disclosed.

Reasonably Possible Losses in Excess of Accruals
The Bancorp and its subsidiaries are parties to numerous claims and lawsuits as well as threatened or potential actions or claims concerning matters arising from the conduct of its business activities. The outcome of claims or litigation and the timing of ultimate resolution are inherently difficult to predict. The following factors, among others, contribute to this lack of predictability: claims often include significant legal uncertainties, damages alleged by plaintiffs are often unspecified or overstated, discovery may not have started or may not be complete and material facts may be disputed or unsubstantiated. As a result of these factors, the Bancorp is not always able to provide an estimate of
the range of reasonably possible outcomes for each claim. An accrual for a potential litigation loss is established when information related to the loss contingency indicates both that a loss is probable and that the amount of loss can be reasonably estimated. Any such accrual is adjusted from time to time thereafter as appropriate to reflect changes in circumstances. The Bancorp also determines, when possible (due to the uncertainties described above), estimates of reasonably possible losses or ranges of reasonably possible losses, in excess of amounts accrued. Under U.S. GAAP, an event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely” and an event is “remote” if “the chance of the future event or events occurring is slight.” Thus, references to the upper end of the range of reasonably possible loss for cases in which the Bancorp is able to estimate a range of reasonably possible loss mean the upper end of the range of loss for cases for which the Bancorp believes the risk of loss is more than slight. For matters where the Bancorp is able to estimate such possible losses or ranges of possible losses, the Bancorp currently estimates that it is reasonably possible that it could incur losses related to legal and regulatory proceedings in an aggregate amount up to approximately $92 million in excess of amounts accrued, with it also being reasonably possible that no losses will be incurred in these matters. The estimates included in this amount are based on the Bancorp’s analysis of currently available information, and as new information is obtained the Bancorp may change its estimates.

For these matters and others where an unfavorable outcome is reasonably possible but not probable, there may be a range of possible losses in excess of the established accrual that cannot be estimated. Based on information currently available, advice of counsel, available insurance coverage and established accruals, the Bancorp believes that the eventual outcome of the actions against the Bancorp and/or its subsidiaries, including the matters described above, will not, individually or in the aggregate, have a material adverse effect on the Bancorp’s consolidated financial position. However, in the event of unexpected future developments, it is possible that the ultimate resolution of those matters, if unfavorable, may be material to the Bancorp’s results of operations for any particular period, depending, in part, upon the size of the loss or liability imposed and the operating results for the applicable period.
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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
The Bancorp maintains written policies and procedures covering related party transactions with principal shareholders, directors and executives of the Bancorp. These policies and procedures cover transactions such as employee-stock purchase loans, personal lines of credit, residential secured loans, overdrafts, letters of credit and increases in indebtedness. Such transactions are subject to the Bancorp’s normal underwriting and approval procedures. Prior to approving a loan to a related party, Compliance Risk Management must review and determine whether the transaction requires approval from or a post notification to the Bancorp’s Board of Directors. At December 31, 2024 and 2023, certain directors, executive officers, principal holders of Bancorp common stock and their related interests were indebted, including undrawn commitments to lend, to the Bancorp’s banking subsidiary.

The following table summarizes the Bancorp’s lending activities with its principal shareholders, directors, executives and their related interests at December 31:
($ in millions)20242023
Commitments to lend, net of participations:
Directors and their affiliated companies$162 165 
Executive officers3 3 
Total$165 168 
Outstanding balance on loans, net of participations and undrawn commitments$56 111 
The commitments to lend are in the form of loans and guarantees for various business and personal interests. This indebtedness was incurred in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated parties. This indebtedness does not involve more than the normal risk of repayment or present other features unfavorable to the Bancorp.
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Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Bancorp and its subsidiaries file a consolidated federal income tax return. The following is a summary of applicable income taxes included in the Consolidated Statements of Income for the years ended December 31:
($ in millions)202420232022
Current income tax expense:
U.S. Federal income taxes$452 647 570 
State and local income taxes75 96 126 
Foreign income taxes3 2 11 
Total current income tax expense530 745 707 
Deferred income tax expense (benefit):
U.S. Federal income taxes84 (81)(31)
State and local income taxes(13)(23)(29)
Foreign income taxes1 (2)— 
Total deferred income tax expense (benefit)72 (106)(60)
Applicable income tax expense $602 639 647 

The current U.S. Federal income taxes above include proportional amortization for qualifying CDC investments of $200 million, $200 million and $189 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The following is a reconciliation between the statutory U.S. Federal income tax rate and the Bancorp’s effective tax rate for the years ended December 31:
202420232022
Statutory tax rate21.0 %21.0 21.0 
Increase (decrease) resulting from:
State taxes, net of federal benefit1.7 1.9 2.5 
Tax-exempt income(0.9)(0.8)(0.8)
Tax credits and other tax benefits from CDC investments(8.5)(7.7)(7.1)
Proportional amortization of qualifying CDC investments6.8 6.7 6.1 
Other tax credits(0.1)(0.7)(0.4)
Other, net0.6 1.0 (0.3)
Effective tax rate20.6 %21.4 21.0 

As discussed in Note 1, the Bancorp adopted ASU 2023-02 on January 1, 2024 which expanded the permitted usage of the proportional amortization method to include additional tax credit programs beyond qualifying LIHTC structures if certain conditions are met. As a result, tax credits and other tax benefits from CDC investments in the rate reconciliation table for the year ended December 31, 2024 include Low-Income Housing, New Markets and Rehabilitation Investment tax credits and other related tax benefits from those investments. For the years ended December 31, 2023 and 2022, prior to the adoption of ASU 2023-02, tax credits and other tax benefits from CDC investments only include the tax credits and other related tax benefits pertaining to investments in the Low-Income Housing tax credit program, with the credits arising from the Bancorp’s investments in the New Markets and Rehabilitation Investment tax credit programs presented as a component of other tax credits. Other tax credits in the rate reconciliation table also include the Increasing Research Activities and Qualified Zone Academy Bond tax credits. Tax-exempt income in the rate reconciliation table includes interest on municipal bonds, interest on tax-exempt lending, and income on life insurance policies held by the Bancorp.

The following table provides a reconciliation of the beginning and ending amounts of the Bancorp’s unrecognized tax benefits:
($ in millions)202420232022
Unrecognized tax benefits at January 1$97 94 102 
Gross increases for tax positions taken during prior period12 14 3 
Gross decreases for tax positions taken during prior period(7)(5)(5)
Gross increases for tax positions taken during current period21 15 11 
Settlements with taxing authorities(1)(1)— 
Lapse of applicable statute of limitations(21)(20)(17)
Unrecognized tax benefits at December 31(a)
$101 97 94 
(a)All amounts represent unrecognized tax benefits that, if recognized, would affect the annual effective tax rate.

The Bancorp’s unrecognized tax benefits as of December 31, 2024, 2023 and 2022 primarily related to state income tax exposures from taking tax positions where the Bancorp believes it is likely that, upon examination, a state would take a position contrary to the position taken by the Bancorp.
While it is reasonably possible that the amount of the unrecognized tax benefits with respect to certain of the Bancorp’s uncertain tax positions could increase or decrease during the next twelve months, the Bancorp believes it is unlikely that its unrecognized tax benefits will change by a material amount during the next twelve months.

Deferred income taxes are comprised of the following items at December 31:
($ in millions)20242023
Deferred tax assets:
Other comprehensive income$1,459 1,395 
Allowance for loan and lease losses494 488 
Loan origination fees and costs199 195 
Deferred compensation115 114 
Reserves38 33 
State deferred taxes35 43 
Reserves for unfunded commitments28 35 
Federal net operating loss carryforwards7 19 
State net operating loss carryforwards6 11 
Other138 135 
Total deferred tax assets$2,519 2,468 
Deferred tax liabilities:
Lease financing$583 551 
MSRs and related economic hedges153 141 
Bank premises and equipment76 68 
Goodwill and intangible assets
64 70 
Investments in joint ventures and partnership interests48 58 
Other168 143 
Total deferred tax liabilities$1,092 1,031 
Total net deferred tax asset$1,427 1,437 

At December 31, 2024 and 2023, the Bancorp recorded deferred tax assets of $6 million and $11 million, respectively, related to state net operating loss carryforwards. The deferred tax assets relating to state net operating losses are presented net of specific valuation allowances of $7 million and $5 million at December 31, 2024 and 2023, respectively. If these carryforwards are not utilized, they will expire in varying amounts through 2044.

The Bancorp has determined that a valuation allowance is not needed against the remaining deferred tax assets as of December 31, 2024 or 2023. The Bancorp considered all of the positive and negative evidence available to determine whether it is more likely than not that the deferred tax assets will ultimately be realized and, based upon that evidence, the Bancorp believes it is more likely than not that the deferred tax assets recorded at December 31, 2024 and 2023 will ultimately be realized. The Bancorp reached this conclusion as it is expected that the Bancorp’s remaining deferred tax assets will be realized through the reversal of its existing taxable temporary differences, its projected future taxable income and tax-planning strategies.

The statute of limitations for the Bancorp’s federal income tax returns remains open for tax years 2020 through 2024. On occasion, as various state and local taxing jurisdictions examine the returns of the Bancorp and its subsidiaries, the Bancorp may agree to extend the statute of limitations for a reasonable period of time. Otherwise, the statutes of limitations for state income tax returns remain open only for tax years in accordance with each state’s statutes.

Any interest and penalties incurred in connection with income taxes are recorded as a component of applicable income tax expense in the Consolidated Financial Statements. During the years ended December 31, 2024, 2023 and 2022, the Bancorp recognized $1 million, $2 million and $1 million, respectively, of interest expense in connection with income taxes. At December 31, 2024 and 2023, the Bancorp had accrued interest liabilities, net of the related tax benefits, of $11 million and $10 million, respectively. No material liabilities were recorded for penalties related to income taxes.
Retained earnings at both December 31, 2024 and 2023 included $157 million in allocations of earnings for bad debt deductions of former thrift subsidiaries for which no income tax has been provided. Under current tax law, if certain of the Bancorp’s subsidiaries use these bad debt reserves for purposes other than to absorb bad debt losses, they will be subject to federal income tax at the current corporate tax rate.
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Retirement and Benefit Plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Retirement and Benefit Plans Retirement and Benefit Plans
The Bancorp’s qualified defined benefit plan’s benefits were frozen in 1998, except for grandfathered employees. The Bancorp’s other defined benefit retirement plans consist of non-qualified plans which are frozen and funded on an as-needed basis. A majority of these plans were obtained in acquisitions and are included with the qualified defined benefit plan in the following tables (“the Plan”). The Bancorp recognizes the overfunded or underfunded status of the Plan in other assets and accrued taxes, interest and expenses, respectively, in the Consolidated Balance Sheets.

The following table summarizes the defined benefit retirement plans as of and for the years ended December 31:
($ in millions)
20242023
Fair value of plan assets at January 1$102 109 
Actual return on assets(3)5 
Contributions1 2 
Settlement(7)(7)
Benefits paid(6)(7)
Fair value of plan assets at December 31$87 102 
Projected benefit obligation at January 1$113 120 
Interest cost5 6 
Settlement(7)(7)
Actuarial (gain) loss(5)1 
Benefits paid(6)(7)
Projected benefit obligation at December 31$100 113 
Underfunded projected benefit obligation at December 31$(13)(11)
Accumulated benefit obligation at December 31(a)
$100 113 
(a)Since the Plan’s benefits are frozen, the rate of compensation increase is no longer an assumption used to calculate the accumulated benefit obligation. Therefore, the accumulated benefit obligation was the same as the projected benefit obligation at both December 31, 2024 and 2023.

The following table summarizes net periodic benefit cost and other changes in the Plan’s assets and benefit obligations recognized in OCI for the years ended December 31:
($ in millions)202420232022
Components of net periodic benefit cost:
Interest cost$5 6 5 
Expected return on assets(5)(5)(4)
Amortization of net actuarial loss2 2 3 
Settlement2 2 3 
Net periodic benefit cost$4 5 7 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)$2 1 (11)
Amortization of net actuarial loss(2)(2)(3)
Settlement(1)(2)(3)
Total recognized in other comprehensive income(1)(3)(17)
Total recognized in net periodic benefit cost and other comprehensive income$3 2 (10)

Fair Value Measurements of Plan Assets
The following tables summarize Plan assets measured at fair value on a recurring basis as of December 31:
Fair Value Measurements Using(a)
2024 ($ in millions)Level 1Level 2Level 3    Total Fair Value
Cash equivalents$3 — — 3 
Debt securities:
U.S. Treasury and federal agencies securities48 3 — 51 
Asset-backed securities and other debt securities(b)
— 33 — 33 
Total debt securities$48 36 — 84 
Total Plan assets$51 36 — 87 
(a)For further information on fair value hierarchy levels, refer to Note 1.
(b)Includes corporate bonds.
Fair Value Measurements Using(a)
2023 ($ in millions)Level 1Level 2Level 3 Total Fair Value
Cash equivalents$7 — — 7 
Debt securities:
U.S. Treasury and federal agencies securities52 3 — 55 
Asset-backed securities and other debt securities(b)
— 40 — 40 
Total debt securities$52 43 — 95 
Total Plan assets$59 43 — 102 
(a)For further information on fair value hierarchy levels, refer to Note 1.
(b)Includes corporate bonds.

The following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Cash equivalents
Cash equivalents are comprised of money market mutual funds that invest in short-term money market instruments that are issued and payable in U.S. dollars. The Plan measures its cash equivalent funds that are exchange-traded using the fund’s quoted price, which is in an active market. Therefore, these investments are classified within Level 1 of the valuation hierarchy.

Debt securities
Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities. If quoted market prices are not available, then fair values are estimated using pricing models which primarily utilize quoted prices of securities with similar characteristics. Examples of such instruments, which are classified within Level 2 of the valuation hierarchy, include federal agencies securities and asset-backed securities and other debt securities.

Plan Assumptions
The Plan’s assumptions are evaluated annually and are updated as necessary. The discount rate assumption reflects the yield on a portfolio of high quality fixed-income instruments that have a similar duration to the Plan’s liabilities. The expected long-term rate of return assumption reflects the average return expected on the assets invested to provide for the Plan’s liabilities. In determining the expected long-term rate of return, the Bancorp evaluated actuarial and economic inputs, including long-term inflation rate assumptions and broad equity and bond indices long-term return projections, as well as actual long-term historical plan performance.

The following table summarizes the weighted-average plan assumptions for the years ended December 31:
202420232022
For measuring benefit obligations at year end:
Discount rate5.58 %5.04 5.37 
For measuring net periodic benefit cost:
Discount rate5.08 5.50 3.69 
Expected return on plan assets5.09 5.52 3.91 

Lowering both the expected rate of return on the plan assets and the discount rate by 0.25% would have increased the 2024 pension expense by approximately $1 million.

Based on the actuarial assumptions, the Bancorp expects to contribute $1 million to the Plan in 2025. Estimated pension benefit payments are $12 million for 2025, $12 million for 2026, $11 million for 2027, $10 million for 2028 and $10 million for 2029. The total estimated payments for the years 2030 through 2034 is $39 million.

Investment Policies and Strategies
The Bancorp’s policy for the investment of Plan assets is to employ investment strategies that achieve a range of weighted-average target asset allocations relating to equity securities, fixed-income securities (including U.S. Treasury and federal agencies securities, mortgage-backed securities, asset-backed securities, corporate bonds and municipal bonds), alternative strategies (including traditional mutual funds, precious metals and commodities) and cash.
The following table provides the Bancorp’s targeted and actual weighted-average asset allocations by asset category, with mutual and exchange-traded funds incorporated according to their underlying investments, for the years ended December 31:
Targeted Range(a)  
20242023
Fixed-income securities
50-100 %  
95 90 
Cash or cash equivalents
0-100    
5 10 
Total100 %100 
(a)These reflect the targeted ranges for the year ended December 31, 2024.

Plan Management’s objective is to achieve and maintain a fully-funded status of the qualified defined benefit plan while also minimizing the risk of excess assets. As a result, the portfolio assets of the qualified defined benefit plan will continue to increase the weighting of long duration fixed income, or liability matching assets, as the funded status increases. There were no significant concentrations of risk associated with the investments of the Plan at December 31, 2024.

Permitted asset classes of the Plan include cash and cash equivalents, fixed-income (domestic and non-U.S. bonds), equities (U.S., non-U.S., emerging markets and real estate investment trusts), equipment leasing and mortgages. The Plan utilizes derivative instruments including puts, calls, straddles or other option strategies, as approved by management.

Fifth Third Bank, National Association, as Trustee, is expected to manage Plan assets in a manner consistent with the Plan agreement and other regulatory, federal and state laws. The Fifth Third Bank Pension, 401(k) and Medical Plan Committee (the “Committee”) is the plan administrator. The Trustee is required to provide to the Committee monthly and quarterly reports covering a list of Plan assets, portfolio performance, transactions and asset allocation. The Trustee is also required to keep the Committee apprised of any material changes in the Trustee’s outlook and recommended investment policy. There were no fees paid by the Plan for investment management, accounting or administrative services provided by the Trustee for the years ended December 31, 2024, 2023 and 2022.

Other Information on Retirement and Benefit Plans
The Bancorp has a qualified defined contribution savings plan that allows participants to make voluntary 401(k) contributions on a pre-tax or Roth basis, subject to statutory limitations. Expenses recognized for matching contributions to the Bancorp’s qualified defined contribution savings plan were $115 million, $114 million and $111 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Bancorp did not make profit sharing contributions during the years ended December 31, 2024, 2023 and 2022. In addition, the Bancorp has a non-qualified defined contribution plan that allows certain employees to make voluntary contributions into a deferred compensation plan. Expenses recognized by the Bancorp for its non-qualified defined contribution plan were $5 million, $5 million and $7 million for the years ended December 31, 2024, 2023 and 2022, respectively.
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Accumulated Other Comprehensive Income
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income
The tables below present the activity of the components of OCI and AOCI for the years ended December 31:
Total OCITotal AOCI
2024 ($ in millions)Pre-tax
Activity		Tax
Effect		Net
Activity		Beginning
Balance		Net
Activity		Ending
Balance
Unrealized holding gains on available-for-sale debt securities
   arising during the year		$27 (12)15 
Unrealized losses on available-for-sale debt securities transferred to
   held-to-maturity securities		994 (209)785 
Reclassification adjustment for net losses on available-for-sale debt
   securities included in net income		18 (4)14 
Net unrealized losses on available-for-sale debt securities1,039 (225)814 (4,094)814 (3,280)
Unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities(994)209 (785)
Amortization of unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities included in net income129 (28)101 
Net unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities(865)181 (684)— (684)(684)
Unrealized holding losses on cash flow hedge derivatives arising
   during the year		(724)172 (552)
Reclassification adjustment for net losses on cash flow hedge
   derivatives included in net income		351 (81)270 
Net unrealized losses on cash flow hedge derivatives(373)91 (282)(372)(282)(654)
Net actuarial loss arising during the year(2)— (2)
Reclassification of amounts to net periodic benefit costs3 — 3 
Defined benefit pension plans, net1 — 1 (17)1 (16)
Other2 — 2 (4)2 (2)
Total$(196)47 (149)(4,487)(149)(4,636)

Total OCITotal AOCI
2023 ($ in millions)Pre-tax
Activity		Tax
Effect		Net
Activity		Beginning
Balance		Net
Activity		Ending
Balance
Unrealized holding gains on available-for-sale debt securities
    arising during the year		$656 (162)494 
Reclassification adjustment for net losses on available-for-sale debt
    securities included in net income		1 — 1 
Net unrealized losses on available-for-sale debt securities657 (162)495 (4,589)495 (4,094)
Unrealized holding losses on cash flow hedge derivatives arising
    during the year		(171)40 (131)
Reclassification adjustment for net losses on cash flow hedge
    derivatives included in net income		334 (77)257 
Net unrealized losses on cash flow hedge derivatives163 (37)126 (498)126 (372)
Net actuarial loss arising during the year(1)— (1)
Reclassification of amounts to net periodic benefit costs4 (1)3 
Defined benefit pension plans, net3 (1)2 (19)2 (17)
Other— — — (4)— (4)
Total$823 (200)623 (5,110)623 (4,487)
Total OCITotal AOCI
2022 ($ in millions)Pre-tax
Activity		Tax
Effect		Net
Activity		Beginning
Balance		Net
Activity		Ending
Balance
Unrealized holding losses on available-for-sale debt securities
    arising during the year
 		$(7,194)1,716 (5,478)
Reclassification adjustment for net gains on available-for-sale debt
    securities included in net income		(2)— (2)
Net unrealized losses on available-for-sale debt securities(7,196)1,716 (5,480)891 (5,480)(4,589)
Unrealized holding losses on cash flow hedge derivatives arising
    during the year
 		(1,006)232 (774)
Reclassification adjustment for net gains on cash flow hedge
    derivatives included in net income		(99)22 (77)
Net unrealized losses on cash flow hedge derivatives(1,105)254 (851)353 (851)(498)
Net actuarial gain arising during the year
 		11 (2)9 
Reclassification of amounts to net periodic benefit costs6 (1)5 
Defined benefit pension plans, net17 (3)14 (33)14 (19)
Other— — — (4)— (4)
Total$(8,284)1,967 (6,317)1,207 (6,317)(5,110)

The table below presents reclassifications out of AOCI for the years ended December 31:
($ in millions)Consolidated Statements of
Income Caption		202420232022
Net unrealized losses on available-for-sale debt securities:(a)
Net (losses) gains included in net incomeSecurities gains (losses), net$(18)(1)2 
Income before income taxes(18)(1)2 
Applicable income tax expense4 — — 
Net income(14)(1)2 
Net unrealized losses on available-for-sale debt securities
transferred to held-to-maturity securities:(a)
Net losses included in net incomeInterest on securities(129)— — 
Income before income taxes(129)— — 
Applicable income tax expense28 — — 
Net income(101)— — 
Net unrealized losses on cash flow hedge derivatives:(a)
Interest rate contracts related to C&I, commercial mortgage and commercial construction loansInterest and fees on loans and leases(351)(334)99 
Income before income taxes(351)(334)99 
Applicable income tax expense81 77 (22)
Net income(270)(257)77 
Net periodic benefit costs:(a)
Amortization of net actuarial loss
Compensation and benefits(b)
(2)(2)(3)
Settlements
Compensation and benefits(b)
(1)(2)(3)
Income before income taxes(3)(4)(6)
Applicable income tax expense— 1 1 
Net income(3)(3)(5)
Other:(a)
Net losses included in net income
Other noninterest expense
(2)— — 
Income before income taxes
(2)— — 
Applicable income tax expense
— — — 
Net income
(2)— — 
Total reclassifications for the periodNet income$(390)(261)74 
(a)Amounts in parentheses indicate reductions to net income.
(b)This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 22 for information on the computation of net periodic benefit cost.
v3.25.0.1
Common, Preferred and Treasury Stock
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Common, Preferred and Treasury Stock Common, Preferred and Treasury Stock
The table presents a summary of the share activity within common, preferred and treasury stock for the years ended:
Common StockPreferred StockTreasury Stock
($ in millions, except share data)ValueSharesValueSharesValueShares
December 31, 2021$2,051 923,892,581 $2,116 278,000$(7,024)241,114,917 
Shares acquired for treasury— — — — (100)3,079,462 
Impact of stock transactions under stock
   compensation plans, net		— — — — 21 (3,687,834)
Other— — — — — 156 
December 31, 2022$2,051 923,892,581 $2,116 278,000$(7,103)240,506,701 
Shares acquired for treasury— — — — (201)5,589,996 
Impact of stock transactions under stock
   compensation plans, net		— — — — 42 (3,328,926)
December 31, 2023$2,051 923,892,581 $2,116 278,000$(7,262)242,767,771 
Shares acquired for treasury— — — —(630)15,043,170 
Impact of stock transactions under stock
   compensation plans, net		— — — — 52 (3,772,190)
December 31, 2024$2,051 923,892,581 $2,116 278,000$(7,840)254,038,751 

Preferred Stock—Series L
On July 30, 2020, the Bancorp issued in a registered public offering 350,000 depositary shares, representing 14,000 shares of 4.50% fixed-rate reset non-cumulative perpetual preferred stock, Series L, for net proceeds of approximately $346 million. Each preferred share has a $25,000 liquidation preference. The preferred stock accrues dividends on a non-cumulative basis at an annual rate of 4.50% through but excluding September 30, 2025. From, and including, September 30, 2025 and for each dividend reset period thereafter, dividends will accrue on the Series L preferred stock, on a non-cumulative basis, at a rate equal to the five-year U.S. Treasury rate as of the most recent reset dividend determination date plus 4.215%. Dividends will be payable, when, as and if declared by the Bancorp’s Board of Directors, quarterly in arrears on each of March 31, June 30, September 30 and December 31, beginning on September 30, 2020. Subject to obtaining all required regulatory approvals, on any dividend payment date on or after September 30, 2025, the Bancorp may redeem the Series L preferred stock and the related depositary shares in whole or in part, at 100% of their liquidation preference, plus an amount equal to any declared and unpaid dividends, without accumulation of any undeclared dividends. In addition, the Series L preferred stock and the related depositary shares may be redeemed, subject to obtaining all required regulatory approvals, in whole but not in part, at any time, following the occurrence of a regulatory capital event, at 100% of their liquidation preference, plus an amount equal to any declared and unpaid dividends, without accumulation of any undeclared dividends. The Series L preferred shares are not convertible into Bancorp common shares or any other securities.

Preferred Stock—Series K
On September 17, 2019, the Bancorp issued, in a registered public offering 10,000,000 depositary shares, representing 10,000 shares of 4.95% non-cumulative Series K perpetual preferred stock, for net proceeds of approximately $242 million. Each preferred share has a $25,000 liquidation preference. Subject to any required regulatory approval, the Bancorp may redeem the Series K preferred shares at its option in whole or in part, on any dividend payment date on or after September 30, 2024 and may redeem in whole, but not in part, at any time following a regulatory capital event. The Series K preferred shares are not convertible into Bancorp common shares or any other securities.

Preferred Stock—Class B, Series A
On August 26, 2019, the Bancorp issued 200,000 shares of 6.00% non-cumulative perpetual Class B preferred stock, Series A. Each preferred share has a $1,000 liquidation preference. These shares were issued to the holders of MB Financial, Inc.’s 6.00% non-cumulative perpetual preferred stock, Series C, in conjunction with the merger of MB Financial, Inc. with and into Fifth Third Bancorp. The newly issued shares of Class B preferred stock, Series A were recognized by the Bancorp at the carrying value previously assigned to the MB Financial, Inc. Series C preferred stock prior to the transaction. Subject to any required regulatory approval, the Bancorp may redeem the shares of Class B preferred stock, Series A at its option, in whole or in part, at any time on any dividend payment due date and may redeem, in whole but not in part, within 90 days following a regulatory capital treatment event.

Preferred Stock—Series J
On June 5, 2014, the Bancorp issued, in a registered public offering, 300,000 depositary shares, representing 12,000 shares of 4.90% fixed to floating-rate non-cumulative Series J perpetual preferred stock, for net proceeds of $297 million. Each preferred share has a $25,000 liquidation preference. The preferred stock accrued dividends, on a non-cumulative semi-annual basis, at an annual rate of 4.90% through but excluding September 30, 2019, at which time it converted to a quarterly floating-rate dividend of three-month LIBOR plus 3.129%. Pursuant to LIBOR transition, it later converted from a reference rate of three-month LIBOR to a reference rate of three-month CME Term SOFR on September 30, 2023. Following this conversion, the quarterly floating-rate dividend is three-month CME Term SOFR plus 3.129% plus the tenor spread adjustment of 0.26161%. Subject to any required regulatory approval, the Bancorp may redeem the Series J preferred shares at
its option, in whole or in part, at any time. The Series J preferred shares are not convertible into Bancorp common shares or any other securities.

Preferred Stock—Series I
On December 9, 2013, the Bancorp issued, in a registered public offering, 18,000,000 depositary shares, representing 18,000 shares of 6.625% fixed to floating-rate non-cumulative Series I perpetual preferred stock, for net proceeds of $441 million. Each preferred share has a $25,000 liquidation preference. The preferred stock accrued dividends, on a non-cumulative quarterly basis, at an annual rate of 6.625% through but excluding December 31, 2023, at which time it converted to a quarterly floating-rate dividend of three-month CME Term SOFR plus 3.71% plus the tenor spread adjustment of 0.26161%. Subject to any required regulatory approval, the Bancorp may redeem the Series I preferred shares at its option in whole or in part, at any time. The Series I preferred shares are not convertible into Bancorp common shares or any other securities.

Preferred Stock—Series H
On May 16, 2013, the Bancorp issued, in a registered public offering, 600,000 depositary shares, representing 24,000 shares of 5.10% fixed to floating-rate non-cumulative Series H perpetual preferred stock, for net proceeds of $593 million. Each preferred share has a $25,000 liquidation preference. The preferred stock accrued dividends, on a non-cumulative semi-annual basis, at an annual rate of 5.10% through but excluding June 30, 2023, at which time it converted to a quarterly floating-rate dividend of three-month LIBOR plus 3.033%. Pursuant to LIBOR transition, it later converted from a reference rate of three-month LIBOR to a reference rate of three-month CME Term SOFR on September 30, 2023. Following this conversion, the quarterly floating-rate dividend is three-month CME Term SOFR plus 3.033% plus the tenor spread adjustment of 0.26161%. Subject to any required regulatory approval, the Bancorp may redeem the Series H preferred shares at its option in whole or in part, at any time. The Series H preferred shares are not convertible into Bancorp common shares or any other securities.

Treasury Stock
In June of 2019, the Board of Directors authorized the Bancorp to repurchase up to 100 million common shares in the open market or in privately negotiated transactions and to utilize any derivative or similar instrument to effect share repurchase transactions.

Under this authorization, the Bancorp entered into and settled accelerated share repurchase transactions during the years ended December 31, 2024 and 2023. As part of these transactions, the Bancorp entered into forward contracts in which the final number of shares delivered at settlement was based on a discount to the average daily volume-weighted average price of the Bancorp’s common stock during the respective terms of each repurchase agreement. Each accelerated share repurchase was treated as two separate transactions: (i) the repurchase of treasury shares on the repurchase date and (ii) a forward contract indexed to the Bancorp’s common stock.

The following table presents a summary of the Bancorp’s accelerated share repurchase transactions that were entered into and settled during the years ended December 31, 2024 and 2023:
Repurchase DateAmount  ($ in millions)Shares Repurchased on Repurchase DateShares Received from Forward Contract  SettlementTotal Shares RepurchasedFinal Settlement Date
January 24, 2023200 4,911,875 678,121 5,589,996 March 6, 2023
June 12, 2024125 3,011,621 496,767 3,508,388 June 27, 2024
July 23, 2024200 4,160,548 713,340 4,873,888 August 5, 2024
October 22, 2024300 5,879,640 781,254 6,660,894 December 18, 2024

The Bancorp increased the cost basis of shares repurchased during the years ended December 31, 2024 and 2023 by $5 million and $1 million, respectively, as a result of the excise tax on share repurchases.
For further information on a subsequent event related to treasury stock, refer to Note 32.
v3.25.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Stock-based awards are eligible for issuance under the Bancorp’s Incentive Compensation Plan to executives, directors and key employees of the Bancorp and its subsidiaries. The 2024 Incentive Compensation Plan was approved by shareholders on April 16, 2024 and authorized the issuance of up to 55 million shares as equity compensation. The plan authorizes the issuance of SARs, RSAs, RSUs, stock options, performance share or unit awards, dividend or dividend equivalent rights and stock awards. As of December 31, 2024, there were 54.5 million shares available for future issuance. Based on total stock-based awards outstanding (including SARs, RSUs, stock options and PSAs) and shares remaining for future grants under the 2024 Incentive Compensation Plan, the potential dilution to which the Bancorp’s common shareholders are exposed due to the potential that stock-based compensation will be awarded to executives, directors or key employees of the Bancorp and its subsidiaries is 11%. SARs, RSUs, stock options and PSAs outstanding represent 2% of the Bancorp’s issued shares at December 31, 2024.

All of the Bancorp’s stock-based awards are to be settled with stock. The Bancorp has historically used treasury stock to settle stock-based awards, when available. SARs, issued at fair value based on the closing price of the Bancorp’s common stock on the date of grant, have terms up to ten years and vest and typically become exercisable ratably over a three year period of continued employment. The Bancorp does not grant discounted SARs or stock options, re-price previously granted SARs or stock options or grant reload stock options. RSUs are typically released after three or four years or ratably over three or four years of continued employment and receive dividend equivalents. Dividend equivalents are accrued and paid in cash when the underlying shares are distributed, except for certain RSUs which have the rights to receive dividend equivalents paid in cash at each dividend payment date. Stock options were previously issued at fair value based on the closing price of the Bancorp’s common stock on the date of grant, had up to ten year terms and vested and became fully exercisable ratably over a three or four-year period of continued employment. For PSAs that are eligible to receive dividend equivalents, the accrued cash dividends are adjusted by the payout percentage achieved on the underlying awards. PSAs have three-year cliff vesting terms with performance conditions as defined by the plan. All of the Bancorp’s executive stock-based awards contain an annual performance hurdle of 2% return on tangible common equity. If this threshold is not met in any one of the three years during the performance period, one-third of PSAs are forfeited. Additionally, if this threshold is not met, all SARs and RSUs that would vest in the next year may also be forfeited at the discretion of the Human Capital and Compensation Committee of the Board of Directors. The Bancorp met this threshold as of December 31, 2024.

Stock-based compensation expense was $164 million, $169 million and $165 million for the years ended December 31, 2024, 2023 and 2022, respectively, and is included in compensation and benefits expense in the Consolidated Statements of Income. The total related income tax benefit recognized was $34 million, $35 million and $34 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Stock Appreciation Rights
The Bancorp uses assumptions, which are evaluated and revised as necessary, in estimating the grant-date fair value of each SAR grant.

The weighted-average assumptions were as follows for the years ended December 31:
202420232022
Expected life (in years)777
Expected volatility33 %31 31 
Expected dividend yield4.2 3.6 3.4 
Risk-free interest rate4.1 3.8 2.7 

The expected life is generally derived from historical exercise patterns and represents the amount of time that SARs granted are expected to be outstanding. The expected volatility is based on a combination of historical and implied volatilities of the Bancorp’s common stock. The expected dividend yield is based on annual dividends divided by the Bancorp’s stock price. Annual dividends are based on projected dividends, estimated using an expected long-term dividend payout ratio, over the estimated life of the awards. The risk-free interest rate for periods within the contractual life of the SARs is based on the U.S. Treasury yield curve in effect at the time of grant.

The grant-date fair value of SARs is measured using the Black-Scholes option-pricing model. The weighted-average grant-date fair value of SARs granted was $9.71, $10.49 and $12.76 per share for the years ended December 31, 2024, 2023 and 2022, respectively. The total grant-date fair value of SARs that vested during the years ended December 31, 2024, 2023 and 2022 was $3 million, $3 million and $2 million, respectively.

At December 31, 2024, there was $2 million of stock-based compensation expense related to outstanding SARs not yet recognized. The expense is expected to be recognized over an estimated remaining weighted-average period at December 31, 2024 of 1.8 years.
The following table summarizes SARs activity for the years ended December 31:
202420232022
SARs (in thousands, except per share data)Number of
SARs		Weighted-
Average Grant
Price Per Share		Number of
SARs		Weighted-
Average Grant
Price Per Share		Number of
SARs		Weighted-
Average Grant
Price Per Share 
Outstanding at January 17,331 $23.72 9,112 $22.22 11,185 $20.47 
Granted316 33.51 253 37.19 304 46.96 
Exercised(3,010)20.01 (2,011)18.42 (2,358)17.05 
Forfeited or expired(1)19.01 (23)40.36 (19)30.43 
Outstanding at December 314,636 $26.80 7,331 $23.72 9,112 $22.22 
Exercisable at December 314,063 $25.39 6,796 $22.44 8,487 $20.97 

The following table summarizes outstanding and exercisable SARs by grant price per share at December 31, 2024:
Outstanding SARsExercisable SARs
SARs (in thousands, except per share data)Number of
SARs		Weighted-Average Grant Price Per ShareWeighted-
Average Remaining
Contractual Life
(in years)		Number of
SARs		Weighted-Average Grant Price Per ShareWeighted-
Average Remaining
Contractual Life
(in years)
$10.01-$20.00
1,673 $18.28 0.91,673 $18.28 0.9
$20.01-$30.00
1,615 27.10 3.01,615 27.10 3.0
$30.01-$40.00
1,105 34.27 7.0612 33.90 5.5
Over $40.00
243 49.51 7.1163 49.51 7.1
All SARs4,636 $26.80 3.44,063 $25.39 2.7

Restricted Stock Units
The total grant-date fair value of RSUs that were released during the years ended December 31, 2024, 2023 and 2022 was $141 million, $130 million and $110 million, respectively. At December 31, 2024, there was $168 million of stock-based compensation expense related to outstanding RSUs not yet recognized. The expense is expected to be recognized over an estimated remaining weighted-average period at December 31, 2024 of 2.3 years.

The following table summarizes RSUs activity for the years ended December 31:
202420232022
RSUs (in thousands, except per unit data)Units Weighted-Average Grant-Date Fair Value Per UnitUnits Weighted-Average Grant-Date Fair Value Per UnitUnits Weighted-Average Grant-Date Fair Value Per Unit
Outstanding at January 110,365 $37.63 9,906 $38.04 9,487 $30.67 
Granted4,546 33.87 4,763 34.94 4,682 47.11 
Released(3,751)37.54 (3,696)35.04 (3,608)30.54 
Forfeited(396)36.37 (608)38.75 (655)37.12 
Outstanding at December 3110,764 $36.12 10,365 $37.63 9,906 $38.04 

The following table summarizes outstanding RSUs by grant-date fair value per unit at December 31, 2024:
Outstanding RSUs
RSUs (in thousands)Units       Weighted-Average Remaining Contractual Life (in years)
Under $25.00
554 0.4
$25.01-$30.00
403 0.8
$30.01-$35.00
4,940 1.4
$35.01-$40.00
3,160 1.2
$40.01-$45.00
124 1.6
$45.01 and over
1,583 0.6
All RSUs10,764 1.1
Stock Options
There were no stock options granted during the years ended December 31, 2024, 2023 and 2022. The Bancorp generally utilizes the Black-Scholes option pricing model to measure the fair value of stock option grants.

The total intrinsic value of stock options exercised was $2 million, $1 million and $2 million for the years ended December 31, 2024, 2023 and 2022, respectively. Cash received from stock options exercised was $2 million, $1 million and $1 million for the years ended December 31, 2024, 2023 and 2022, respectively. No stock options vested during the years ended December 31, 2024 and 2023 and an immaterial amount of stock options vested during the year ended December 31, 2022. As of December 31, 2024, the aggregate intrinsic value of both outstanding stock options and exercisable stock options was $2 million.

The following table summarizes stock options activity for the years ended December 31:
202420232022
Stock Options (in thousands, except per share data)  Number of OptionsWeighted-Average Exercise Price Per ShareNumber of OptionsWeighted-Average Exercise Price Per ShareNumber of OptionsWeighted-Average Exercise Price Per Share
Outstanding at January 1224 $21.45 312 $21.65 409 $21.51 
Exercised(129)21.03 (86)21.97 (97)21.06 
Forfeited or expired— — (2)27.71 — — 
Outstanding at December 3195 $22.03 224 $21.45 312 $21.65 
Exercisable at December 3195 $22.03 224 $21.45 312 $21.65 

The following table summarizes outstanding and exercisable stock options by exercise price per share at December 31, 2024:
Outstanding Stock OptionsExercisable Stock Options
Stock Options (in thousands, except per share data)Number of OptionsWeighted-Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)Number of OptionsWeighted-Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)
$10.01-$20.00
50 18.58 0.850 18.58 0.8
$20.01-$30.00
45 25.86 2.845 25.86 2.8
All stock options95 $22.03 1.895 $22.03 1.8

Other Stock-Based Compensation
PSAs are payable contingent upon the Bancorp achieving certain predefined performance targets over a three-year measurement period. Depending on performance, between zero and 1.2 million shares may be released to settle the PSAs outstanding at December 31, 2024 once the applicable performance periods are completed. Awards granted during the years ended December 31, 2024, 2023 and 2022 will be entirely settled in stock. The performance targets are based on the Bancorp’s performance relative to a defined peer group. PSAs use a performance-based metric based on return on average common equity in relation to peers. During the years ended December 31, 2024, 2023 and 2022, approximately 295 thousand, 256 thousand and 288 thousand PSAs, respectively, were granted by the Bancorp. These awards were granted at a weighted-average grant-date fair value of $33.51, $37.19 and $47.03 per unit during the years ended December 31, 2024, 2023 and 2022, respectively. During the years ended December 31, 2024, 2023 and 2022, approximately 355 thousand, 395 thousand and 429 thousand PSAs, respectively, were distributed to participants. These awards were distributed with a total grant date fair value of $12 million, $12 million and $11 million during the years ended December 31, 2024, 2023 and 2022, respectively.

The Bancorp sponsors an employee stock purchase plan that allows qualifying employees to purchase shares of the Bancorp’s common stock with a 15% match. During the years ended December 31, 2024, 2023 and 2022, there were approximately 487 thousand, 768 thousand and 520 thousand shares, respectively, purchased by participants. The Bancorp recognized expense of $2 million in each of the years ended December 31, 2024, 2023 and 2022 related to this plan. This expense is included in compensation and benefits expense in the Consolidated Statements of Income. On April 16, 2024, the Bancorp’s shareholders approved the 2024 Employee Stock Purchase Plan. This plan allowed for the purchase of up to 15 million shares and cancelled the remaining 1.8 million shares available for purchase under the predecessor plan. Approximately 278 thousand shares purchased by participants during the year ended December 31, 2024 were under the Bancorp’s 2024 Employee Stock Purchase Plan, leaving approximately 14.7 million shares available for future issuance as of December 31, 2024.
v3.25.0.1
Other Noninterest Income and Other Noninterest Expense
 12 Months Ended
Dec. 31, 2024
Noninterest Income [Abstract]  
Other Noninterest Income and Other Noninterest Expense Other Noninterest Income and Other Noninterest Expense
The following table presents the major components of other noninterest income and other noninterest expense for the years ended December 31:
($ in millions)202420232022
Other noninterest income:
BOLI income$66 6164
Private equity investment income35 4470
Equity method investment income18 5222
Income from the TRA associated with Worldpay, Inc.11 2246
Gains (losses) on sales of businesses7 —(7)
Loss on swap associated with the sale of Visa, Inc. Class B Shares(138)(94)(84)
Other, net13 638
Total other noninterest income$12 91149
Other noninterest expense:
FDIC insurance and other taxes$181 385 132 
Leasing business expense92 121 131 
Losses and adjustments86 91 91 
Data processing81 87 82 
Dues and subscriptions61 61 58 
Travel60 56 60 
Securities recordkeeping55 50 48 
Professional service fees49 53 54 
Postal and courier48 46 40 
Cash and coin processing47 48 44 
Intangible amortization35 43 47 
Other, net178 184 145 
Total other noninterest expense$973 1,225 932 
v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table provides the calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share for the years ended December 31:
($ in millions, except per share data)202420232022
Net income available to common shareholders$2,155 2,212 2,330 
Less: Income allocated to participating securities— — 2 
Net income allocated to common shareholders2,155 2,212 2,328 
Average common shares outstanding - basic682 684 689 
Effect of dilutive stock-based awards5 4 6 
Average common shares outstanding - diluted687 688 695 
Earnings per share - basic3.16 3.23 3.38 
Earnings per share - diluted3.14 3.22 3.35 
Anti-dilutive stock-based awards excluded from diluted shares1 6 3 
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The Bancorp measures certain financial assets and liabilities at fair value in accordance with U.S. GAAP, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. For more information regarding the fair value hierarchy and how the Bancorp measures fair value, refer to Note 1.

Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables summarize assets and liabilities measured at fair value on a recurring basis as of:
Fair Value Measurements Using
December 31, 2024 ($ in millions)     Level 1     Level 2   Level 3     Total Fair Value
Assets:
   Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,360 — — 4,360 
Obligations of states and political subdivisions securities— — — — 
Mortgage-backed securities:
Agency residential mortgage-backed securities— 5,681 — 5,681 
Agency commercial mortgage-backed securities— 20,832 — 20,832 
          Non-agency commercial mortgage-backed securities— 4,167 — 4,167 
Asset-backed securities and other debt securities— 3,729 — 3,729 
Available-for-sale debt and other securities(a)
4,360 34,409 — 38,769 
Trading debt securities:
U.S. Treasury and federal agencies securities591 35 — 626 
Obligations of states and political subdivisions securities— 120 — 120 
Agency residential mortgage-backed securities— 10 — 10 
Asset-backed securities and other debt securities— 429 — 429 
Trading debt securities591 594 — 1,185 
Equity securities307 34 — 341 
Residential mortgage loans held for sale— 574 — 574 
Residential mortgage loans(b)
— — 108 108 
Servicing rights— — 1,704 1,704 
Derivative assets:
Interest rate contracts7 721 2 730 
Foreign exchange contracts— 1,167 — 1,167 
Commodity contracts75 500 — 575 
Derivative assets(c)
82 2,388 2 2,472 
Total assets$5,340 37,999 1,814 45,153 
Liabilities:
Derivative liabilities:
Interest rate contracts$— 939 5 944 
Foreign exchange contracts— 1,120 — 1,120 
Equity contracts— — 170 170 
Commodity contracts57 507 — 564 
Derivative liabilities(d)
57 2,566 175 2,798 
Short positions:
U.S. Treasury and federal agencies securities139 — — 139 
Asset-backed securities and other debt securities— 156 — 156 
Equity securities21 — — 21 
Short positions(d)
160 156 — 316 
Total liabilities$217 2,722 175 3,114 
(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $276, $500 and $2, respectively, at December 31, 2024.
(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)Included in other assets in the Consolidated Balance Sheets.
(d)Included in other liabilities in the Consolidated Balance Sheets.
Fair Value Measurements Using
December 31, 2023 ($ in millions)Level 1Level 2Level 3Total Fair Value
Assets:
   Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,336 — — 4,336 
Obligations of states and political subdivisions securities— 2 — 2 
Mortgage-backed securities:
Agency residential mortgage-backed securities— 10,282 — 10,282 
Agency commercial mortgage-backed securities— 25,720 — 25,720 
Non-agency commercial mortgage-backed securities— 4,445 — 4,445 
Asset-backed securities and other debt securities— 4,912 — 4,912 
Available-for-sale debt and other securities(a)
4,336 45,361 — 49,697 
Trading debt securities:
U.S. Treasury and federal agencies securities640 7 — 647 
Obligations of states and political subdivisions securities— 39 — 39 
Agency residential mortgage-backed securities— 6 — 6 
Asset-backed securities and other debt securities— 207 — 207 
Trading debt securities640 259 — 899 
Equity securities600 13 — 613 
Residential mortgage loans held for sale— 334 — 334 
Residential mortgage loans(b)
— — 116 116 
Servicing rights— — 1,737 1,737 
Derivative assets:
Interest rate contracts— 977 6 983 
Foreign exchange contracts— 643 — 643 
Commodity contracts205 846 — 1,051 
Derivative assets(c)
205 2,466 6 2,677 
Total assets$5,781 48,433 1,859 56,073 
Liabilities:
Derivative liabilities:
Interest rate contracts$5 1,202 6 1,213 
Foreign exchange contracts— 600 — 600 
Equity contracts— — 168 168 
Commodity contracts28 990 — 1,018 
Derivative liabilities(d)
33 2,792 174 2,999 
Short positions:
U.S. Treasury and federal agencies securities31 — — 31 
Asset-backed securities and other debt securities— 76 — 76 
Short positions(d)
31 76 — 107 
Total liabilities$64 2,868 174 3,106 
(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $224, $496 and $2, respectively, at December 31, 2023.
(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)Included in other assets in the Consolidated Balance Sheets.
(d)Included in other liabilities in the Consolidated Balance Sheets.

The following is a description of the valuation methodologies used for significant instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy.

Available-for-sale debt and other securities, trading debt securities and equity securities
Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities and equity securities. If quoted market prices are not available, then fair values are estimated using pricing models which primarily utilize quoted prices of securities with similar characteristics. Level 2 securities may include federal agencies securities, obligations of states and political subdivisions securities, agency residential mortgage-backed securities, agency and non-agency commercial mortgage-backed securities, asset-backed securities and other debt securities and equity securities. These securities are generally valued using a market approach based on observable prices of securities with similar characteristics.

Residential mortgage loans held for sale
For residential mortgage loans held for sale for which the fair value election has been made, fair value is estimated based upon mortgage-backed securities prices and spreads to those prices or, for certain ARM loans, DCF models that may incorporate the anticipated portfolio
composition, credit spreads of asset-backed securities with similar collateral and market conditions. The anticipated portfolio composition includes the effect of interest rate spreads and discount rates due to loan characteristics such as the state in which the loan was originated, the loan amount and the ARM margin. Residential mortgage loans held for sale that are valued based on mortgage-backed securities prices are classified within Level 2 of the valuation hierarchy as the valuation is based on external pricing for similar instruments. ARM loans classified as held for sale are also classified within Level 2 of the valuation hierarchy due to the use of observable inputs in the DCF model. These observable inputs include interest rate spreads from agency mortgage-backed securities market rates and observable discount rates.

Residential mortgage loans
For residential mortgage loans for which the fair value election has been made, and that are reclassified from held for sale to held for investment, the fair value estimation is based on mortgage-backed securities prices, interest rate risk and an internally developed credit component. Therefore, these loans are transferred from Level 2 to Level 3 of the valuation hierarchy. An adverse change in the loss rate or severity assumption would result in a decrease in fair value of the related loans.

Servicing rights
MSRs do not trade in an active, open market with readily observable prices. While sales of MSRs do occur, the precise terms and conditions typically are not readily available. Accordingly, the Bancorp estimates the fair value of MSRs using internal OAS models with certain unobservable inputs, primarily prepayment speed assumptions, OAS and weighted-average lives, resulting in a classification within Level 3 of the valuation hierarchy. Refer to Note 13 for further information on the assumptions used in the valuation of the Bancorp’s MSRs.

Derivatives
Exchange-traded derivatives valued using quoted prices and certain over-the-counter derivatives valued using active bids are classified within Level 1 of the valuation hierarchy. Most of the Bancorp’s derivative contracts are valued using DCF or other models that incorporate current market interest rates, credit spreads assigned to the derivative counterparties and other market parameters and, therefore, are classified within Level 2 of the valuation hierarchy. Such derivatives include basic and structured interest rate, foreign exchange and commodity swaps and options. Derivatives that are valued based upon models with significant unobservable market parameters are classified within Level 3 of the valuation hierarchy. At December 31, 2024 and 2023, derivatives classified as Level 3, which are valued using models containing unobservable inputs, consisted primarily of a total return swap associated with the Bancorp’s sale of Visa, Inc. Class B Shares as well as IRLCs, which utilize internally generated loan closing rate assumptions as a significant unobservable input in the valuation process.

Under the terms of the total return swap, the Bancorp will make or receive payments based on subsequent changes in the conversion rate of the Visa, Inc. Class B Shares into Class A Shares. Additionally, the Bancorp will make a quarterly payment based on Visa’s stock price and the conversion rate of the Visa, Inc. Class B Shares into Class A Shares until the date on which the Covered Litigation is settled. The fair value of the total return swap was calculated using a DCF model based on unobservable inputs consisting of management’s estimate of the probability of certain litigation scenarios, the timing of the resolution of the Covered Litigation and Visa litigation loss estimates in excess, or shortfall, of the Bancorp’s proportional share of escrow funds.

An increase in the loss estimate or a delay in the resolution of the Covered Litigation would result in an increase in the fair value of the derivative liability; conversely, a decrease in the loss estimate or an acceleration of the resolution of the Covered Litigation would result in a decrease in the fair value of the derivative liability. Refer to Note 18 for additional information on the Covered Litigation.

The net asset fair value of the Bancorp’s IRLCs at December 31, 2024 was $2 million. Immediate decreases in current interest rates of 25 bps and 50 bps would result in increases in the fair value of the IRLCs of approximately $2 million and $3 million, respectively. Immediate increases in current interest rates of 25 bps and 50 bps would result in decreases in the fair value of the IRLCs of approximately $2 million and $4 million, respectively. An immediate 10% or 20% change in loan closing rates, either adverse or favorable, would not have a material impact on the fair value of IRLCs as of December 31, 2024. These sensitivities are hypothetical and should be used with caution, as changes in fair value based on a variation in assumptions typically cannot be extrapolated because the relationship of the change in assumptions to the change in fair value may not be linear.

Short positions
Where quoted prices are available in an active market, short positions are classified within Level 1 of the valuation hierarchy. Level 1 securities include U.S. Treasury securities and equity securities. If quoted market prices are not available, then fair values are estimated using pricing models which primarily utilize quoted prices of securities with similar characteristics and therefore are classified within Level 2 of the valuation hierarchy. Level 2 securities include asset-backed and other debt securities.
The following tables are a reconciliation of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the year ended December 31, 2024 ($ in millions)Residential Mortgage LoansServicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total Fair Value
Balance, beginning of period$116 1,737 — (168)1,685 
Total (losses) gains (realized/unrealized):(b)
Included in earnings(1)(77)41 (138)(175)
Purchases/originations— 49 (1)— 48 
Sales— (5)— — (5)
Settlements(11)— (43)136 82 
Transfers into Level 3(c)
4 — — — 4 
Balance, end of period$108 1,704 (3)(170)1,639 
The amount of total (losses) gains for the period
   included in earnings attributable to the change in
   unrealized gains or losses relating to instruments
   still held at December 31, 2024
$(1)14 6 (138)(119)
(a)Net interest rate derivatives include derivative assets and liabilities of $2 and $5, respectively, as of December 31, 2024.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at December 31, 2024.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the year ended December 31, 2023 ($ in millions)Residential Mortgage LoansServicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total Fair Value
Balance, beginning of period$123 1,746 (1)(195)1,673 
Total (losses) gains (realized/unrealized):(b)
Included in earnings2 (105)53 (94)(144)
Purchases/originations— 96 (3)— 93 
Settlements(15)— (49)121 57 
Transfers into Level 3(c)
6 — — — 6 
Balance, end of period$116 1,737 — (168)1,685 
The amount of total (losses) gains for the period
   included in earnings attributable to the change in
   unrealized gains or losses relating to instruments
   still held at December 31, 2023
$2 (28)5 (94)(115)
(a)Net interest rate derivatives include $6 for both derivative assets and liabilities as of December 31, 2023.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at December 31, 2023.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the year ended December 31, 2022 ($ in millions)Residential Mortgage LoansServicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total Fair Value
Balance, beginning of period$154 1,121 4 (214)1,065 
Total gains (losses) (realized/unrealized):(b)
Included in earnings(18)177 22 (84)97 
Purchases/originations— 448 1 — 449 
Settlements(23)— (28)103 52 
Transfers into Level 3(c)
10 — — — 10 
Balance, end of period$123 1,746 (1)(195)1,673 
The amount of total gains (losses) for the period
   included in earnings attributable to the change in
   unrealized gains or losses relating to instruments
   still held at December 31, 2022
$(18)311 6 (84)215 
(a)Net interest rate derivatives include derivative assets and liabilities of $7 and $8, respectively, as of December 31, 2022.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at December 31, 2022.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.
The total losses and gains included in earnings for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were recorded in the Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022 as follows:
($ in millions)202420232022
Mortgage banking net revenue$(38)(54)177 
Capital markets fees2 4 4 
Other noninterest income(139)(94)(84)
Total (losses) gains$(175)(144)97 

The total losses and gains included in earnings attributable to changes in unrealized gains and losses related to Level 3 assets and liabilities still held at December 31, 2024, 2023 and 2022 were recorded in the Consolidated Statements of Income as follows:
($ in millions)202420232022
Mortgage banking net revenue$18 (25)295 
Capital markets fees2 4 4 
Other noninterest income(139)(94)(84)
Total (losses) gains$(119)(115)215 

The following tables present information as of December 31, 2024 and 2023 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured at fair value on a recurring basis:
As of December 31, 2024 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable
Inputs		Range of InputsWeighted-Average
Residential mortgage loans$108 Loss rate modelInterest rate risk factor(51.9)-4.6%(13.3)%
(a)
Credit risk factor— -0.5%0.2 %
(a)
Servicing rights1,704 DCFPrepayment speed— -100.0%(Fixed)5.8 %
(b)
(Adjustable)16.9 %
(b)
OAS (bps)420-1,823(Fixed)459
(b)
(Adjustable)731
(b)
IRLCs, net2 DCFLoan closing rates20.8 -96.0%83.5 %
(c)
Swap associated with the sale of Visa, Inc. Class B Shares(170)DCFTiming of the resolution of the Covered LitigationQ2 2027-Q1 2028Q4 2027
(d)
(a)Unobservable inputs were weighted by the relative carrying value of the instruments.
(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.
(c)Unobservable inputs were weighted by the relative notional amount of the instruments.
(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.
As of December 31, 2023 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable
Inputs		Range of InputsWeighted-Average
Residential mortgage loans$116 Loss rate modelInterest rate risk factor(23.4)-3.4%(11.6)%
(a)
Credit risk factor— -0.6%0.2 %
(a)
Servicing rights1,737 DCFPrepayment speed— -100.0%(Fixed)5.9 %
(b)
(Adjustable)20.3 %
(b)
OAS (bps)477-1,447(Fixed)569
(b)
(Adjustable)1,016
(b)
IRLCs, net5 DCFLoan closing rates20.9 -96.0%82.3 %
(c)
Swap associated with the sale of Visa, Inc. Class B Shares(168)DCFTiming of the resolution of the Covered LitigationQ4 2024-Q1 2027Q4 2025
(d)
(a)Unobservable inputs were weighted by the relative carrying value of the instruments
(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.
(c)Unobservable inputs were weighted by the relative notional amount of the instruments.
(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Certain assets and liabilities are measured at fair value on a nonrecurring basis. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment.
The following tables provide the fair value hierarchy and carrying amount of all assets that were held as of December 31, 2024 and 2023, and for which a nonrecurring fair value adjustment was recorded during the years ended December 31, 2024 and 2023, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period.
Fair Value Measurements UsingTotal (Losses) Gains
As of December 31, 2024 ($ in millions)Level 1  Level 2Level 3    Total For the year ended December 31, 2024
Commercial loans held for sale$— — 6 6 (1)
Commercial loans and leases— — 168 168 (245)
Consumer and residential mortgage loans— — 215 215 (17)
OREO— — 2 2 (2)
Bank premises and equipment— — 7 7 (1)
Private equity investments— 3 — 3 11 
Total$— 3 398 401 (255)
Fair Value Measurements UsingTotal Losses
As of December 31, 2023 ($ in millions)Level 1Level 2Level 3TotalFor the year ended December 31, 2023
Commercial loans held for sale$— — 1 1 — 
Commercial loans and leases— — 163 163 (162)
Consumer and residential mortgage loans— — 189 189 (12)
OREO— — 18 18 (8)
Bank premises and equipment— — 15 15 (2)
Operating lease equipment— — 2 2 — 
Private equity investments— — — — (2)
Total$— — 388 388 (186)

The following tables present information as of December 31, 2024 and 2023 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured on a nonrecurring basis:
As of December 31, 2024 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable InputsRanges of
Inputs		Weighted-Average
Commercial loans held for sale$6 Comparable company analysisMarket comparable transactionsNMNM
Commercial loans and leases168 Appraised valueCollateral valueNMNM
Consumer and residential mortgage loans215 Appraised valueCollateral valueNMNM
OREO2 Appraised valueAppraised valueNMNM
Bank premises and equipment7 Appraised valueAppraised valueNMNM
As of December 31, 2023 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable InputsRanges of  
Inputs  		Weighted-Average
Commercial loans held for sale$1 Comparable company analysisMarket comparable transactionsNMNM
Commercial loans and leases163 Appraised valueCollateral valueNMNM
Consumer and residential mortgage loans189 Appraised valueCollateral valueNMNM
OREO18 Appraised valueAppraised valueNMNM
Bank premises and equipment15 Appraised valueAppraised valueNMNM
Operating lease equipment2 Appraised valueAppraised valueNMNM

Commercial loans held for sale
The Bancorp estimated the fair value of certain commercial loans held for sale during the years ended December 31, 2024 and 2023. These valuations were primarily based on applying unobservable inputs such as an estimated market discount to the unpaid principal balance of the loans (Level 3 of the valuation hierarchy).

Portfolio loans and leases
During the years ended December 31, 2024 and 2023, the Bancorp recorded nonrecurring adjustments to certain collateral-dependent portfolio loans and leases. When a loan is collateral-dependent, the fair value of the loan is generally based on the fair value less cost to sell of the underlying collateral supporting the loan and therefore these loans were classified within Level 3 of the valuation hierarchy. In cases
where the amortized cost basis of the loan or lease exceeds the estimated net realizable value of the collateral, then an ALLL is recognized, or a charge-off once the remaining amount is considered uncollectible.

OREO
During the years ended December 31, 2024 and 2023, the Bancorp recorded nonrecurring adjustments to certain commercial and residential real estate properties and branch-related real estate no longer intended to be used for banking purposes classified as OREO and measured at the lower of carrying amount or fair value. These nonrecurring losses were primarily due to declines in real estate values of the properties upon the transfer, or subsequent to the transfer, to OREO. The fair value amounts are generally based on appraisals of the property values, resulting in a classification within Level 3 of the valuation hierarchy. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized.

Bank premises and equipment
The Bancorp performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. These properties were written down to their lower of cost or market values. At least annually thereafter, the Bancorp will review these properties for market fluctuations. The fair value amounts were generally based on appraisals of the property values, resulting in a classification within Level 3 of the valuation hierarchy. For further information on bank premises and equipment, refer to Note 7.

Private equity investments
The Bancorp accounts for its private equity investments using the measurement alternative to fair value, except for those accounted for under the equity method of accounting. Under the measurement alternative, the Bancorp carries each investment at its cost basis minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. The Bancorp recognized gains of $11 million during the year ended December 31, 2024 and did not recognize gains during the year ended December 31, 2023, resulting from observable price changes. The carrying value of the Bancorp’s private equity investments still held as of December 31, 2024 includes a cumulative $20 million of positive adjustments as a result of observable price changes since January 1, 2018. Because these adjustments are based on observable transactions in inactive markets, they are classified in Level 2 of the fair value hierarchy.

For private equity investments which are accounted for using the measurement alternative to fair value, the Bancorp qualitatively evaluates each investment quarterly to determine if impairment may exist. If necessary, the Bancorp then measures impairment by estimating the value of its investment and comparing that to the investment’s carrying value, whether or not the Bancorp considers the impairment to be temporary. These valuations are typically developed using a DCF method, but other methods may be used if more appropriate for the circumstances. These valuations are based on unobservable inputs and therefore are classified in Level 3 of the fair value hierarchy. The Bancorp did not recognize impairment charges during the year ended December 31, 2024 and recognized $2 million of impairment charges on its private equity investments for the year ended December 31, 2023. The carrying value of the Bancorp’s private equity investments still held as of December 31, 2024 includes a cumulative $15 million of impairment charges recognized since adoption of the measurement alternative to fair value on January 1, 2018.

Fair Value Option
The Bancorp elected to measure certain residential mortgage loans held for sale under the fair value option as allowed under U.S. GAAP. Electing to measure residential mortgage loans held for sale at fair value reduces certain timing differences and better matches changes in the value of these assets with changes in the value of derivatives used as economic hedges for these assets. Management’s intent to sell residential mortgage loans classified as held for sale may change over time due to such factors as changes in the overall liquidity in markets or changes in characteristics specific to certain loans held for sale. Consequently, these loans may be reclassified to loans held for investment and maintained in the Bancorp’s loan portfolio. In such cases, the loans will continue to be measured at fair value.

Fair value changes recognized in earnings for residential mortgage loans held at December 31, 2024 and 2023 for which the fair value option was elected, as well as the changes in fair value of the underlying IRLCs, included losses of $11 million and $6 million, respectively. These changes are reported in mortgage banking net revenue in the Consolidated Statements of Income.

Valuation adjustments related to instrument-specific credit risk for residential mortgage loans measured at fair value negatively impacted the fair value of those loans by an immaterial amount at both December 31, 2024 and 2023. Interest on loans measured at fair value is accrued as it is earned using the effective interest method and is reported as interest income in the Consolidated Statements of Income.
The following table summarizes the difference between the fair value and the unpaid principal balance for residential mortgage loans measured at fair value as of:
($ in millions)Aggregate  Fair ValueAggregate Unpaid Principal BalanceDifference
December 31, 2024
Residential mortgage loans measured at fair value$682 693 (11)
Past due loans of 30-89 days1 1 — 
Past due loans of 90 days or more1 1 — 
Nonaccrual loans2 2 — 
December 31, 2023
Residential mortgage loans measured at fair value$450 456 (6)
Past due loans of 30-89 days1 1 — 
Nonaccrual loans2 2 — 

Fair Value of Certain Financial Instruments
The following tables summarize the carrying amounts and estimated fair values for certain financial instruments, excluding financial instruments measured at fair value on a recurring basis:
Net CarryingFair Value Measurements Using        Total
As of December 31, 2024 ($ in millions)AmountLevel 1Level 2Level 3Fair Value
Financial assets:
Cash and due from banks$3,014 3,014 — — 3,014 
Other short-term investments17,120 17,120 — — 17,120 
Other securities778 — 778 — 778 
Held-to-maturity securities11,278 2,344 8,619 2 10,965 
Loans and leases held for sale66 — — 66 66 
Portfolio loans and leases:
Commercial loans and leases72,139 — — 72,319 72,319 
Consumer and residential mortgage loans45,192 — — 42,155 42,155 
Total portfolio loans and leases, net$117,331 — — 114,474 114,474 
Financial liabilities:
Deposits$167,252 — 167,353 — 167,353 
Federal funds purchased204 204 — — 204 
Other short-term borrowings4,450 — 4,459 — 4,459 
Long-term debt14,440 3,753 10,835 — 14,588 
Net CarryingFair Value Measurements Using        Total
As of December 31, 2023 ($ in millions)AmountLevel 1Level 2Level 3Fair Value
Financial assets:
Cash and due from banks$3,142 3,142 — — 3,142 
Other short-term investments22,082 22,082 — — 22,082 
Other securities722 — 722 — 722 
Held-to-maturity securities2 — — 2 2 
Loans and leases held for sale44 — — 44 44 
Portfolio loans and leases:
Commercial loans and leases71,616 — — 71,766 71,766 
Consumer and residential mortgage loans43,180 — — 41,410 41,410 
Total portfolio loans and leases, net$114,796 — — 113,176 113,176 
Financial liabilities:
Deposits$168,912 — 168,873 — 168,873 
Federal funds purchased193 193 — — 193 
Other short-term borrowings2,861 — 2,872 — 2,872 
Long-term debt16,418 14,481 1,903 — 16,384 
v3.25.0.1
Regulatory Capital Requirements and Capital Ratios
 12 Months Ended
Dec. 31, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Regulatory Capital Requirements and Capital Ratios Regulatory Capital Requirements and Capital Ratios
The Board of Governors of the Federal Reserve System issued capital adequacy guidelines pursuant to which it assesses the adequacy of capital in examining and supervising a BHC. These guidelines include quantitative measures that assign risk weightings to assets and off-balance sheet items, define and set minimum regulatory capital requirements as well as the measure of “well-capitalized” status. Additionally, the U.S. banking agencies issued similar guidelines for minimum regulatory capital requirements and “well-capitalized” measurements for banking subsidiaries.

The following table summarizes the prescribed capital ratios for the Bancorp and its banking subsidiary.
Minimum      Well-Capitalized
CET1 capital:
Fifth Third Bancorp4.50 %N/A
Fifth Third Bank, National Association4.50 6.50 
Tier 1 risk-based capital:
Fifth Third Bancorp6.00 6.00 
Fifth Third Bank, National Association6.00 8.00 
Total risk-based capital:
Fifth Third Bancorp8.00 10.00 
Fifth Third Bank, National Association8.00 10.00 
Leverage:
Fifth Third Bancorp4.00 N/A
Fifth Third Bank, National Association4.00 5.00 

Failure to meet the minimum capital requirements or falling below the “well-capitalized” measure can initiate certain actions by regulators that could have a direct material effect on the Consolidated Financial Statements of the Bancorp. The Bancorp is subject to the stress capital buffer requirement and must maintain capital ratios above its buffered minimum (regulatory minimum plus stress capital buffer) in order to avoid certain limitations on capital distributions and discretionary bonuses to executive officers. The FRB uses the supervisory stress test to determine the Bancorp’s stress capital buffer, subject to a floor of 2.5%. At December 31, 2024 and 2023, the Bancorp’s stress capital buffer requirement was 3.2% and 2.5%, respectively. The Bancorp’s capital ratios have exceeded the stress capital buffer requirement for all periods presented.

The Bancorp and its banking subsidiary, Fifth Third Bank, National Association, had CET1 capital, Tier 1 risk-based capital, Total risk-based capital and Leverage ratios above the “well-capitalized” levels at both December 31, 2024 and 2023. To continue to qualify for financial holding company status pursuant to the Gramm-Leach-Bliley Act of 1999, the Bancorp’s banking subsidiary must, among other things, maintain “well-capitalized” capital ratios.

The following table presents capital and risk-based capital and leverage ratios for the Bancorp and its banking subsidiary at December 31:
20242023
($ in millions)AmountRatio        AmountRatio      
CET1 capital:
Fifth Third Bancorp$17,339 10.57 %$16,800 10.29 %
Fifth Third Bank, National Association20,943 12.86 20,147 12.42 
Tier 1 risk-based capital:
Fifth Third Bancorp19,455 11.86 18,916 11.59 
Fifth Third Bank, National Association20,943 12.86 20,147 12.42 
Total risk-based capital:
Fifth Third Bancorp22,746 13.86 22,400 13.72 
Fifth Third Bank, National Association23,116 14.19 22,463 13.85 
Leverage:(a)
Fifth Third Bancorp19,455 9.22 18,916 8.73 
Fifth Third Bank, National Association20,943 10.02 20,147 9.38 
(a)Quarterly average assets are a component of the Leverage ratio and for this purpose do not include goodwill and any other intangible assets and other investments that the U.S. banking agencies determine should be deducted from Tier 1 capital.
v3.25.0.1
Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Statements Parent Company Financial Statements
Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions)202420232022
Income
Dividends from consolidated nonbank subsidiaries(a)
$1,800 1,819 165 
Securities gains (losses), net3 4 (9)
Interest 85 63 11 
Total income1,888 1,886 167 
Expenses
Interest553 525 311 
Other27 39 19 
Total expenses580 564 330 
Income (Loss) Before Income Taxes and Equity in Undistributed Earnings of Subsidiaries1,308 1,322 (163)
Applicable income tax benefit(115)(112)(76)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries1,423 1,434 (87)
Equity in undistributed earnings891 915 2,533 
Net Income$2,314 2,349 2,446 
Other Comprehensive Income— — — 
Comprehensive Income$2,314 2,349 2,446 
(a)Includes dividends paid by the Bancorp’s indirect banking subsidiary to the Bancorp’s direct nonbank subsidiary holding company of $1.8 billion for both the years ended December 31, 2024 and 2023. The Bancorp’s indirect banking subsidiary did not pay dividends during the year ended December 31, 2022.

Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)20242023
Assets
Cash$969 120 
Other short-term investments3,106 6,500 
Available-for-sale debt and other securities2,500 1,000 
Equity securities29 34 
Loans to nonbank subsidiaries5 — 
Investment in nonbank subsidiaries22,891 21,998 
Goodwill80 80 
Other assets156 179 
Total Assets$29,736 29,911 
Liabilities
Other short-term borrowings$3 — 
Accrued expenses and other liabilities567 631 
Long-term debt (external)9,521 10,108 
Total Liabilities$10,091 10,739 
Equity
Common stock$2,051 2,051 
Preferred stock2,116 2,116 
Capital surplus3,804 3,757 
Retained earnings24,150 22,997 
Accumulated other comprehensive loss(4,636)(4,487)
Treasury stock(7,840)(7,262)
Total Equity19,645 19,172 
Total Liabilities and Equity$29,736 29,911 
Condensed Statements of Cash Flows (Parent Company Only)   
For the years ended December 31 ($ in millions)202420232022
Operating Activities   
Net income$2,314 2,349 2,446 
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion7 7 7 
Provision for (benefit from) deferred income taxes2 1 (3)
Securities (gains) losses, net(3)(4)9 
Equity in undistributed earnings(891)(915)(2,533)
Net change in:
Equity securities8 4 6 
Other assets(49)147 (115)
Accrued expenses and other liabilities(60)(126)45 
Net Cash Provided by (Used in) Operating Activities1,328 1,463 (138)
Investing Activities
Proceeds from maturities of securities issued by subsidiary1,000 1,000 — 
Purchase of securities issued by subsidiary(2,500)(1,000)(1,000)
Net change in:
Other short-term investments3,394 (833)567 
Loans to nonbank subsidiaries(5)60 132 
Net Cash Provided by (Used in) Investing Activities1,889 (773)(301)
Financing Activities
Net change in other short-term borrowings3 (121)(240)
Proceeds from issuance of long-term debt1,742 1,244 2,986 
Repayment of long-term debt(2,250)(500)(1,200)
Dividends paid on common and preferred stock(1,176)(1,060)(927)
Repurchase of treasury stock and related forward contract(625)(200)(100)
Other, net(62)(53)(82)
Net Cash (Used in) Provided by Financing Activities(2,368)(690)437 
Increase (Decrease) in Cash849 — (2)
Cash at Beginning of Period120 120 122 
Cash at End of Period$969 120 120 
v3.25.0.1
Subsequent Event
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Event Subsequent Events
On January 22, 2025, the Bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the Bancorp paid $225 million on January 23, 2025 to repurchase shares of its outstanding common stock. The Bancorp is repurchasing the shares of its common stock as part of its Board-approved 100 million share repurchase program previously announced on June 18, 2019. The Bancorp expects the settlement of the transaction to occur on or before March 28, 2025.

On January 28, 2025, the Bank issued and sold, under its bank notes program, $700 million of fixed-rate/floating-rate senior notes due on January 28, 2028. The senior notes will bear interest at a rate of 4.967% per annum to, but excluding, January 28, 2027. From, and including January 28, 2027 until maturity, the senior notes will bear interest at a rate of compounded SOFR plus 0.81%. The senior notes are redeemable at the Bank’s option, in whole, but not in part, one year prior to their maturity date, or in whole or in part beginning 30 days prior to maturity, at par plus accrued and unpaid interest. Additionally, the senior notes are redeemable at the Bank’s option, in whole or in part, beginning 180 days after the issue date and prior to January 28, 2027, at the greater of: (a) the aggregate principal amount of the senior notes being redeemed, plus accrued and unpaid interest, or (b) the sum of the present value of the remaining scheduled payments of principal and interest.

On January 28, 2025, the Bank issued and sold, under its bank notes program, $300 million of floating-rate senior notes due on January 28, 2028. The senior notes will bear interest at a rate of compounded SOFR plus 0.81%. These senior notes are redeemable at the Bank’s option, in whole, but not in part, one year prior to their maturity date, or in whole or in part beginning 30 days prior to maturity, at par plus accrued and unpaid interest.
v3.25.0.1
Business Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Business Segments Business Segments
The Bancorp has three reportable segments: Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management. The Bancorp’s reportable segments have been determined based on its management structure and management accounting practices. This presentation is aligned with how results are reviewed internally by the Bancorp’s Chairman, Chief Executive Officer and President, which the Bancorp has determined to be its Chief Operating Decision Maker (“CODM”). For each of the Bancorp’s segments, the CODM primarily uses segment income before income taxes on an FTE basis to allocate resources such as employees and capital. The CODM also monitors trends in net interest income, noninterest income and noninterest expense to evaluate the financial performance of each segment and make resource allocation decisions. These decisions also consider segment-specific events and circumstances, general market conditions, forecasts and variances to annual budgets. Additionally, the CODM uses segment average assets as a measure to allocate resources to the segments.
The Bancorp manages interest rate risk centrally at the corporate level. By employing an FTP methodology, the segments are insulated from most benchmark interest rate volatility, enabling them to focus on serving customers through the origination of loans and acceptance of deposits. The FTP methodology assigns charge and credit rates to classes of assets and liabilities, respectively, based on the estimated amount and timing of the cash flows for each transaction. Assigning the FTP rate based on matching the duration of cash flows allocates interest income and interest expense to each segment so its resulting net interest income is insulated from future changes in benchmark interest rates. The Bancorp’s FTP methodology also allocates the contribution to net interest income of the asset-generating and deposit-providing businesses on a duration-adjusted basis to better attribute the driver of the performance. As the asset and liability durations are not perfectly matched, the residual impact of the FTP methodology is captured in General Corporate and Other. The charge and credit rates are determined using the FTP rate curve, which is based on an estimate of Fifth Third’s marginal borrowing cost in the wholesale funding markets. The FTP curve is constructed using the U.S. swap curve, brokered CD pricing and unsecured debt pricing.

The Bancorp adjusts the FTP charge and credit rates as dictated by changes in interest rates for various interest-earning assets and interest-bearing liabilities and by the review of behavioral assumptions, such as prepayment rates on interest-earning assets and the estimated durations for indeterminate-lived deposits. Key assumptions, including the credit rates provided for deposit accounts, are reviewed annually. Credit rates for deposit products and charge rates for loan products may be reset more frequently in response to changes in market conditions.

The Bancorp’s methodology for allocating provision for credit losses to the segments includes charges or benefits associated with changes in criticized commercial loan levels in addition to actual net charge-offs experienced by the loans and leases owned by each segment. Provision for credit losses attributable to loan and lease growth and changes in ALLL factors is captured in General Corporate and Other. The financial results of the segments also include allocations for shared services and headquarters expenses, which are included within other noninterest expense. Additionally, the segments form synergies by taking advantage of relationship depth opportunities and funding operations by accessing the capital markets as a collective unit.

The following is a description of each of the Bancorp’s segments and the products and services they provide to their respective client bases.

Commercial Banking offers credit intermediation, cash management and financial services to large and middle-market businesses and government and professional customers. In addition to the traditional lending and depository offerings, Commercial Banking products and services include global cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing and syndicated finance.

Consumer and Small Business Banking provides a full range of deposit and loan products to individuals and small businesses through a network of full-service banking centers and relationships with indirect and correspondent loan originators in addition to providing products designed to meet the specific needs of small businesses, including cash management services. Consumer and Small Business Banking includes the Bancorp’s residential mortgage, home equity loans and lines of credit, credit cards, automobile and other indirect lending, solar energy installation and other consumer lending activities. Residential mortgage activities include the origination, retention and servicing of residential mortgage loans, sales and securitizations of those loans and all associated hedging activities. Indirect lending activities include extending loans to consumers through automobile dealers, motorcycle dealers, powersport dealers, recreational vehicle dealers and marine dealers. Solar energy installation loans and certain other consumer loans are originated through a network of contractors and installers.

Wealth and Asset Management provides a full range of wealth management solutions for individuals, companies and not-for-profit organizations, including wealth planning, investment management, banking, insurance, trust and estate services. These offerings include retail brokerage services for individual clients, advisory services for institutional clients including middle market businesses, non-profits, states and municipalities, and wealth management strategies and products for high net worth and ultra-high net worth clients.
The following tables present the results of operations and assets by segment for the years ended December 31:
2024 ($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(d)
Total
Net interest income (FTE)(a)
$2,647 4,169 210 (1,372)5,654 
Provision for (benefit from) credit losses304 322 — (96)530 
Net interest income after provision for (benefit from) credit losses$2,343 3,847 210 (1,276)5,124 
Noninterest income:
Wealth and asset management revenue$3 247 397 — 647 
Commercial payments revenue529 76 1 2 608 
Consumer banking revenue— 551 2 2 555 
Capital markets fees421 2 2 (1)424 
Commercial banking revenue373 4 — — 377 
Mortgage banking net revenue— 210 1 — 211 
Other noninterest income53 4 1 (46)12 
Securities gains, net1 — — 14 15 
Total noninterest income$1,380 1,094 404 (29)2,849 
Noninterest expense:
Compensation and benefits$656 882 222 1,003 2,763 
Technology and communications14 30 1 429 474 
Net occupancy expense(b)
36 212 12 79 339 
Equipment expense28 51 — 74 153 
Loan and lease expense31 80 1 20 132 
Marketing expense3 68 1 43 115 
Card and processing expense9 75 1 (1)84 
Other noninterest expense(c)
1,117 1,074 149 (1,367)973 
Total noninterest expense$1,894 2,472 387 280 5,033 
Income (loss) before income taxes (FTE)$1,829 2,469 227 (1,585)2,940 
Average assets$77,177 51,627 4,390 79,612 212,806 
(a)Includes FTE adjustments of $15 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.
(c)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(d)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
2023 ($ in millions)Commercial BankingConsumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(e)
Total      
Net interest income (FTE)(a)
$3,828 5,207 360 (3,543)5,852 
Provision for credit losses12 303 1 199 515 
Net interest income after provision for credit losses$3,816 4,904 359 (3,742)5,337 
Noninterest income:
Wealth and asset management revenue$2 216 363 — 581 
Commercial payments revenue473 85 1 5 564 
Consumer banking revenue— 544 2 — 546 
Capital markets fees419 2 1 — 422 
Commercial banking revenue406 2 — 1 409 
Mortgage banking net revenue— 250 — — 250 
Other noninterest income(b)
65 6 2 18 91 
Securities gains (losses), net(9)— — 27 18 
Total noninterest income$1,356 1,105 369 51 2,881 
Noninterest expense:
Compensation and benefits$654 878 220 942 2,694 
Technology and communications14 27 1 422 464 
Net occupancy expense(c)
41 209 12 69 331 
Equipment expense29 44 — 75 148 
Loan and lease expense30 86 1 16 133 
Marketing expense3 70 1 52 126 
Card and processing expense11 76 1 (4)84 
Other noninterest expense(d)
1,221 1,125 139 (1,260)1,225 
Total noninterest expense$2,003 2,515 375 312 5,205 
Income (loss) before income taxes (FTE)$3,169 3,494 353 (4,003)3,013 
Average assets$83,078 50,974 4,678 69,696 208,426 
(a)Includes FTE adjustments of $16 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes impairment charges of $1 recorded in Consumer and Small Business Banking and $1 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7 and Note 28.
(c)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9. 
(d)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(e)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
2022 ($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(f)
Total      
Net interest income (FTE)(a)
$2,552 3,131 262 (320)5,625 
Provision for credit losses33 139 — 391 563 
Net interest income after provision for credit losses$2,519 2,992 262 (711)5,062 
Noninterest income:
Wealth and asset management revenue$3 204 363 — 570 
Commercial payments revenue468 89 1 10 568 
Consumer banking revenue— 538 2 2 542 
Capital markets fees387 2 — (2)387 
Commercial banking revenue417 
(c)
1 1 — 419 
Mortgage banking net revenue— 214 1 — 215 
Other noninterest income(b)
98 7 — 44 149 
Securities losses, net(33)(2)— (49)(84)
Total noninterest income$1,340 1,053 368 5 2,766 
Noninterest expense:
Compensation and benefits$639 828 218 869 2,554 
Technology and communications11 22 1 382 416 
Net occupancy expense(d)
40 196 13 58 307 
Equipment expense27 38 — 80 145 
Loan and lease expense27 107 1 32 167 
Marketing expense5 58 1 54 118 
Card and processing expense11 72 1 (4)80 
Other noninterest expense(e)
1,063 1,068 144 (1,343)932 
Total noninterest expense$1,823 2,389 379 128 4,719 
Income (loss) before income taxes (FTE)$2,036 1,656 251 (834)3,109 
Average assets$82,239 49,823 4,763 70,104 206,929 
(a)Includes FTE adjustments of $10 for Commercial Banking and $6 for General Corporate and Other.
(b)Includes impairment charges of $6 recorded in Consumer and Small Business Banking and $3 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7.
(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8.
(d)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9.
(e)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(f)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net Income $ 2,314 $ 2,349 $ 2,446
v3.25.0.1
Insider Trading Arrangements
shares in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
shares
Dec. 31, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Jude A. Schramm [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On December 10, 2024, Jude A. Schramm, Executive Vice President and Chief Information Officer of the Bancorp, adopted a trading arrangement for the sale of shares of stock (a “Rule 10b5-1 Trading Plan”) that is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). Mr. Schramm’s Rule 10b5-1 Trading Plan, which shall terminate on December 31, 2025, provides for the sale of up to 10,000 shares of common stock pursuant to the terms of the Rule 10b5-1 Trading Plan.
Name Jude A. Schramm  
Title Executive Vice President and Chief Information Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 10, 2024  
Expiration Date December 31, 2025  
Arrangement Duration 386 days  
Aggregate Available 10 10
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Bancorp recognizes the importance of maintaining a cybersecurity risk management system designed to reduce the risks that cybersecurity threats pose to financial institutions. As such, the Bancorp has adopted proactive and defensive safeguards intended to better protect the Bancorp’s information assets and supporting infrastructures from technology-related attacks. The Bancorp’s Board of Directors and management oversee its information security and cybersecurity risk management programs. As further discussed below, the Bancorp has established various programs, policies and procedures which are designed to proactively protect information assets. However, not all incidents can be prevented. As a result, the Bancorp has also established various policies and procedures governing how to respond to security incidents, with the objective of minimizing any potential impacts. As of December 31, 2024, the Bancorp is not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect Fifth Third, including its business strategies, results of operations or financial condition.

Risk Assessment and Management
The Bancorp maintains a variety of programs and policies to support the management of cybersecurity risk within the organization with a focus on prevention, detection and response processes. These programs and policies leverage frameworks and controls from the National Institute of Standards and Technology as well as various other regulatory requirements and industry-specific standards. The Bancorp also participates in the federally recognized Financial Services Information Sharing and Analysis Center and requires its employees and contractors to complete various education and training programs related to information security.

The Bancorp’s Information Technology (“IT”) and Information Security (“IS”) teams have the primary responsibility for establishing appropriate policies and procedures that are responsive to cybersecurity threats and other information security risks. The Bancorp’s Information Technology and Cybersecurity Risk Management (“IT CSRM”) team, as part of the Bancorp’s Risk Management division, provides independent risk management oversight to those IT and IS teams. In addition to the Board oversight discussed below, the Bancorp’s Internal Audit function independently oversees, reviews and validates these activities and reports to the Board of Directors on the effectiveness of governance, risk management and internal controls.

The Bancorp has established an Enterprise Risk Management Framework which informs the Bancorp’s risk management programs. As part of this framework, the IT CSRM team maintains the Bancorp’s IT CSRM Program, which is designed to identify, assess, manage, monitor and report cybersecurity risks as part of the Bancorp’s independent risk management function. The IT CSRM team is responsible for defining the risk management practices set forth in the IT CSRM Program. Refer to the Risk Management – Overview section of Item 7 (Management’s Discussion and Analysis of Financial Condition and Results of Operations) of this Annual Report for additional information on the Bancorp’s Enterprise Risk Management Framework and related risk management processes.

In light of the complexity and evolving nature of the cybersecurity landscape, the Bancorp periodically re-assesses the maturity of its cybersecurity programs, policies and procedures, including in some instances by engaging the assistance of external experts. The Bancorp also conducts exercises to test its incident response plans and threat assessments, some of which also involve assistance from external consultants.

The Bancorp also maintains a Third Party Risk Management Program to perform similar functions related to risks associated with the Bancorp’s relationships with third parties. This assists the Bancorp in its management of its relationships with third parties, which includes considerations for identifying, analyzing and monitoring the cybersecurity risks that third parties may present to Fifth Third. The Bancorp also maintains a third-party incident response program to govern its response in the event of third-party cybersecurity events.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] The Bancorp recognizes the importance of maintaining a cybersecurity risk management system designed to reduce the risks that cybersecurity threats pose to financial institutions. As such, the Bancorp has adopted proactive and defensive safeguards intended to better protect the Bancorp’s information assets and supporting infrastructures from technology-related attacks. The Bancorp’s Board of Directors and management oversee its information security and cybersecurity risk management programs. As further discussed below, the Bancorp has established various programs, policies and procedures which are designed to proactively protect information assets. However, not all incidents can be prevented. As a result, the Bancorp has also established various policies and procedures governing how to respond to security incidents, with the objective of minimizing any potential impacts.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Technology Committee of the Bancorp’s Board of Directors takes primary responsibility for overseeing the Bancorp’s information security programs at the Board level. The Technology Committee’s primary purpose is to assist the Board of Directors in its oversight of plans and operations related to information technology, cybersecurity, data privacy and third-party technology strategy.

The Bancorp’s Risk and Compliance Committee of the Board of Directors oversees the Bancorp’s Enterprise Risk Management Framework and policies, including oversight of risks related to information security. The Risk and Compliance Committee receives periodic reports from the Technology Committee and these committees meet jointly at least once per year to discuss the Company’s programs and risks.
The full Board of Directors receives reports from the Technology Committee and the Risk and Compliance Committee about the Bancorp’s cybersecurity programs as a result of the above-described oversight. In the event of a material cybersecurity incident, the Bancorp’s incident response procedures include notifications to the Technology Committee, Risk and Compliance Committee and full Board of Directors, when appropriate and necessary.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Technology Committee of the Bancorp’s Board of Directors takes primary responsibility for overseeing the Bancorp’s information security programs at the Board level. The Technology Committee’s primary purpose is to assist the Board of Directors in its oversight of plans and operations related to information technology, cybersecurity, data privacy and third-party technology strategy.

The Bancorp’s Risk and Compliance Committee of the Board of Directors oversees the Bancorp’s Enterprise Risk Management Framework and policies, including oversight of risks related to information security. The Risk and Compliance Committee receives periodic reports from the Technology Committee and these committees meet jointly at least once per year to discuss the Company’s programs and risks.
The full Board of Directors receives reports from the Technology Committee and the Risk and Compliance Committee about the Bancorp’s cybersecurity programs as a result of the above-described oversight. In the event of a material cybersecurity incident, the Bancorp’s incident response procedures include notifications to the Technology Committee, Risk and Compliance Committee and full Board of Directors, when appropriate and necessary.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Bancorp’s Risk and Compliance Committee of the Board of Directors oversees the Bancorp’s Enterprise Risk Management Framework and policies, including oversight of risks related to information security. The Risk and Compliance Committee receives periodic reports from the Technology Committee and these committees meet jointly at least once per year to discuss the Company’s programs and risks.
The full Board of Directors receives reports from the Technology Committee and the Risk and Compliance Committee about the Bancorp’s cybersecurity programs as a result of the above-described oversight. In the event of a material cybersecurity incident, the Bancorp’s incident response procedures include notifications to the Technology Committee, Risk and Compliance Committee and full Board of Directors, when appropriate and necessary.
Cybersecurity Risk Role of Management [Text Block]
The Bancorp’s Information Security Governance Committee (“ISGC”) is a management committee that reviews and discusses critical information security risks that impact the Bancorp, identifies solutions to address these risks and has oversight of the Bancorp’s information technology and information security policies. The ISGC provides cybersecurity reports periodically to the Risk and Compliance Committee and is comprised of the Bancorp’s senior information security, information technology and enterprise risk management leaders, including the Chief Information Security Officer (“CISO”), Chief Information Officer, Chief Technology & Information Security Officer, Chief Data Officer and Chief Operational Risk Officer. The ISGC’s membership enables the ISGC to be informed about and monitor the prevention, detection, mitigation and remediation of cybersecurity incidents, if any, in accordance with the Bancorp’s incident response plans.

The Bancorp’s CISO is responsible for information security policies and the coordination of information security efforts across the organization. The CISO has over 35 years of diverse experience in information technology management and cybersecurity leadership at Fifth Third and at other large, complex organizations. This prior experience includes leadership of functions for cybersecurity threat management, intelligence, risk mitigation and incident response. The CISO has a Bachelor of Science degree in Computer and Information Science and is a certified Six Sigma Black Belt. The Bancorp’s CISO reports to the Chief Technology & Information Security Officer. The CISO also reports directly to the Technology Committee and participates in various management councils and committees. The Bancorp’s IT CSRM team monitors that the CISO has appropriate authority to carry out the duties and responsibilities necessary of that position.

The CISO remains informed about developments in cybersecurity, including potential threats and emerging risk management techniques, reporting such information to the Chief Information Officer and Technology Committee periodically. The CISO implements and oversees processes for the regular monitoring of information systems. This includes the deployment of advanced security measures and system audits to identify potential vulnerabilities. In the event of a cybersecurity incident, the CISO is equipped with a well-defined incident response plan. This plan includes immediate actions designed to mitigate the impact of any incident, and long-term strategies for remediation and prevention of future incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Bancorp’s CISO is responsible for information security policies and the coordination of information security efforts across the organization
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The CISO has over 35 years of diverse experience in information technology management and cybersecurity leadership at Fifth Third and at other large, complex organizations. This prior experience includes leadership of functions for cybersecurity threat management, intelligence, risk mitigation and incident response. The CISO has a Bachelor of Science degree in Computer and Information Science and is a certified Six Sigma Black Belt.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Bancorp’s CISO reports to the Chief Technology & Information Security Officer. The CISO also reports directly to the Technology Committee and participates in various management councils and committees. The Bancorp’s IT CSRM team monitors that the CISO has appropriate authority to carry out the duties and responsibilities necessary of that position.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of Significant Accounting and Reporting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Nature of Operations
Nature of Operations
Fifth Third Bancorp, an Ohio corporation, conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States as well as through other offices, telephone sales, the internet and mobile applications.
Basis of Presentation
Basis of Presentation
The Consolidated Financial Statements include the accounts of the Bancorp and its majority-owned subsidiaries and VIEs in which the Bancorp has been determined to be the primary beneficiary. Other entities, including certain joint ventures in which the Bancorp has the ability to exercise significant influence over operating and financial policies of the investee, but upon which the Bancorp does not possess control, are accounted for by the equity method and not consolidated. The investments in those entities in which the Bancorp does not have the ability to exercise significant influence are generally carried at fair value unless the investment does not have a readily determinable fair value. The Bancorp accounts for equity investments without a readily determinable fair value using the measurement alternative to fair value, representing the cost of the investment minus any impairment recorded and plus or minus changes resulting from observable price changes in orderly transactions for an identical or a similar investment of the same issuer. Intercompany transactions and balances among consolidated entities have been eliminated.

Certain prior period data has been reclassified to conform to current period presentation. Specifically, certain line items within noninterest income and noninterest expense have been reclassified to better align disclosures to business activities. Within noninterest income, these reclassifications resulted in three new financial statement line items, including commercial payments revenue, consumer banking revenue and capital markets fees. Commercial banking revenue and other noninterest income were also affected by the reclassifications. Within noninterest expense, these reclassifications resulted in the separate disclosure of loan and lease expense, which was previously a component of other noninterest expense. These reclassifications did not impact total noninterest income or total noninterest expense and were applied retrospectively to all prior periods presented.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Due from Banks
Cash and Due from Banks
Cash and due from banks consist of currency and coin, cash items in the process of collection and due from banks. Currency and coin includes both U.S. and foreign currency owned and held at Fifth Third offices and that is in-transit to the FRB. Cash items in the process of collection include checks and drafts that are drawn on another depository institution or the FRB that are payable immediately upon presentation in the U.S. Balances due from banks include noninterest-bearing balances that are funds on deposit at other depository institutions or the FRB.
Investment Securities
Investment Securities
Debt securities are classified as held-to-maturity, available-for-sale or trading on the date of purchase. Only those securities which management has the intent and ability to hold to maturity are classified as held-to-maturity and reported at amortized cost. Debt securities are classified as available-for-sale when, in management’s judgment, they may be sold in response to, or in anticipation of, changes in market conditions. Debt securities are classified as trading typically when bought and held principally for the purpose of selling them in the near term. Trading debt securities are reported at fair value with unrealized gains and losses included in noninterest income. Available-for-sale debt securities are reported at fair value with unrealized gains and losses, net of related deferred income taxes, included in OCI. For available-for-sale debt securities hedged in a fair value hedge, the amortized cost basis of the hedged items (excluding unrealized gains and losses) includes the cumulative fair value hedging basis adjustments. Changes in the fair value of these securities which are attributable to changes in the hedged risk are recognized in earnings instead of OCI. Accrued interest receivable on investment securities is presented in the Consolidated Balance Sheets as a component of other assets.

Available-for-sale debt securities with unrealized losses are reviewed quarterly to determine if the decline in fair value is the result of a credit loss or other factors. An allowance for credit losses is recorded against available-for-sale debt securities to reflect the amount of the unrealized loss attributable to credit; however, this impairment is limited by the amount that the fair value is less than the amortized cost basis. Any remaining unrealized loss is recognized through OCI. Changes in the allowance for credit losses are recognized in earnings.

The determination of whether or not a credit loss exists is based on consideration of the cash flows expected to be collected from the debt security. The Bancorp develops these expectations after considering various factors such as agency ratings, the financial condition of the issuer or underlying obligors, payment history, payment structure of the security, industry and market conditions, underlying collateral and other factors which may be relevant based on the facts and circumstances pertaining to individual securities.
If the Bancorp intends to sell the debt security or will more likely than not be required to sell the debt security before recovery of its amortized cost basis, then the allowance for credit losses, if previously recorded, is written off and the security’s amortized cost is written down to the security’s fair value at the reporting date, with any incremental impairment recorded as a charge to noninterest income.

Held-to-maturity debt securities are assessed periodically to determine if an allowance is necessary to absorb credit losses expected to occur over the remaining contractual life of the securities. The carrying amount of held-to-maturity debt securities is presented net of the allowance for credit losses when such an allowance is deemed necessary.

Debt securities classified as available-for-sale may be transferred to the held-to-maturity classification if the Bancorp determines that it has the positive intent and ability to hold the securities until their maturity. Upon transfer to held-to-maturity, the transferred securities are reported at amortized cost plus or minus the pre-tax amount of the remaining unrealized gains or losses reported in AOCI at the transfer date. The resulting premium or discount is amortized into income over the remaining life of the securities as an adjustment to yield. Any unrealized gains or losses that exist on the date of transfer continue to be reported as a component of AOCI and are amortized into income over the remaining life of the securities as an adjustment to yield, offsetting the amortization of the premium or discount that was recognized at the transfer date. Any allowance for credit losses that was previously recorded when the securities were classified as available-for-sale is reversed into earnings on the date of transfer. After the transfer to held-to-maturity, the securities would be re-assessed for any necessary allowance for credit losses, as previously discussed.

Equity securities with readily determinable fair values not accounted for under the equity method are reported at fair value with unrealized gains and losses included in noninterest income in the Consolidated Statements of Income. Equity securities without readily determinable fair values are measured at cost minus impairment, if any, plus or minus changes as a result of an observable price change for the identical or similar investment of the same issuer. At each quarterly reporting period, the Bancorp performs a qualitative assessment to evaluate whether impairment indicators are present. If qualitative indicators are identified, the investment is measured at fair value with the impairment loss included in noninterest income in the Consolidated Statements of Income.

The fair value of a security is determined based on quoted market prices. If quoted market prices are not available, fair value is determined based on quoted prices of similar instruments.

Premiums on purchased callable debt securities are amortized to the earliest call date if the call feature meets certain criteria. Otherwise, premiums are amortized to maturity similar to discounts on callable debt securities.

Realized securities gains or losses are reported within noninterest income in the Consolidated Statements of Income. The cost of securities sold is based on the specific identification method.
Portfolio Loans and Leases and Nonaccrual loans and leases
Portfolio Loans and Leases
Basis of accounting
Portfolio loans and leases are generally reported at the principal amount outstanding, net of unearned income, deferred direct loan origination fees and costs and any direct principal charge-offs. Direct loan origination fees and costs are deferred and the net amount is amortized over the contractual life or estimated life, if prepayments are estimated, of the related loans as a yield adjustment. Interest income is recognized based on the principal balance outstanding, computed using the effective interest method.

Loans and leases acquired by the Bancorp through a purchase or a business combination are recorded at fair value as of the acquisition date. Purchased loans and finance leases (including both sales-type leases and direct financing leases) are evaluated for evidence of credit deterioration at acquisition and recorded at their initial fair value. For loans and finance leases acquired in a business combination that do not exhibit evidence of more-than-insignificant credit deterioration since origination, the Bancorp does not carry over the acquired company’s ALLL, but upon acquisition will record an ALLL and provision for credit losses reflective of credit losses expected to be incurred over the remaining contractual life of the acquired loans. Premiums and discounts reflected in the initial fair value are amortized over the contractual life of the loan as an adjustment to yield.

For loans and finance leases that exhibit evidence of more-than-insignificant credit quality deterioration since origination, the Bancorp’s estimate of expected credit losses is added to the ALLL upon acquisition and to the initial purchase price of the loans and leases to determine the initial amortized cost basis for the purchased financial assets with credit deterioration. Any resulting difference between the initial amortized cost basis (as adjusted for expected credit losses) and the par value of the loans and leases at the acquisition date represents the non-credit premium or discount, which is amortized over the contractual life of the loan or lease as an adjustment to yield. This method of accounting for loans acquired with deteriorated credit quality does not apply to loans carried at fair value or loans held for sale.

The Bancorp’s lease portfolio consists of sales-type, direct financing and leveraged leases. Leases are classified as sales-type if the Bancorp transfers control of the underlying asset to the lessee. The Bancorp classifies leases that do not meet any of the criteria for a sales-type lease as a direct financing lease if the present value of the sum of the lease payments and any residual value guaranteed by the lessee and/or any other third party equals or exceeds substantially all of the fair value of the underlying asset and the collection of the lease payments and residual value guarantee is probable. Sales-type and direct financing leases are recorded at the aggregate of lease payments plus estimated
residual value of the leased property, less unearned income. Interest income on sales-type and direct financing leases is recognized over the term of the lease to achieve a constant periodic rate of return on the outstanding investment.

Leveraged leases, entered into before January 1, 2019, are recorded at the aggregate of lease payments (less nonrecourse debt payments) plus estimated residual value of the leased property, less unearned income. Interest income on leveraged leases is recognized over the term of the lease to achieve a constant rate of return on the outstanding investment in the lease, net of the related deferred income tax liability, in the years in which the net investment is positive. Leveraged lease accounting is no longer applied for leases entered into or modified after the Bancorp’s adoption of ASU 2016-02, Leases, on January 1, 2019.

Nonaccrual loans and leases
The Bancorp places loans and leases on nonaccrual status when full repayment of principal and interest is not expected, unless the loan or lease is well-secured and in the process of collection. When a loan is placed on nonaccrual status, the accrual of interest, amortization of loan premium, accretion of loan discount and amortization/accretion of deferred net direct loan origination fees or costs are discontinued and all previously accrued and unpaid interest is reversed against income. The Bancorp utilizes the following policies to determine when full repayment of principal and interest on a loan or lease is not expected:
•Commercial loans are placed on nonaccrual status when there is a clear indication that the borrower’s cash flows may not be sufficient to meet payments as they become due. Commercial loans where the principal or interest has been in default for a period of 90 days or more are generally maintained on nonaccrual status unless the loan is fully or partially guaranteed by a government agency or otherwise considered to be well secured and in the process of collection.
•Residential mortgage loans are placed on nonaccrual status when principal and interest payments become past due 150 days or more, unless repayment of the loan is fully or partially guaranteed by a government agency. Residential mortgage loans may stay on nonaccrual status for an extended time as the foreclosure process typically lasts longer than 180 days. The Bancorp maintains a reserve for the portion of accrued interest receivable that it estimates will be uncollectible, at the portfolio level, for residential mortgage loans which are past due 90 days or more and on accrual status. This reserve is recorded as a component of other assets in the Consolidated Balance Sheets, consistent with the classification of the related accrued interest receivable.
•Home equity loans and lines of credit are placed on nonaccrual status if principal or interest becomes past due 90 days or more. Home equity loans and lines of credit that become past due 60 days or more are also placed on nonaccrual status if the senior lien has been past due 120 days or more.
•Credit card loans that have been modified for a borrower experiencing financial difficulty are placed on nonaccrual status at the time of the modification. Subsequent to the modification, accounts are placed on nonaccrual status when required payments become past due 90 days or more in accordance with the modified terms.
•Indirect secured consumer loans and other consumer loans are generally placed on nonaccrual status when principal or interest becomes past due 90 days or more.
•Loan balances remaining after charge-off on consumer loans subject to a bankruptcy proceeding are generally placed on nonaccrual status within 60 days of verification of the bankruptcy unless the borrower demonstrates willingness to repay the loan through a guaranteed repayment plan or reaffirmation of their obligation to the Bancorp. These loans are also placed on nonaccrual status when principal or interest becomes past due 60 days or more.
•Loans discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower are placed on nonaccrual status and considered collateral-dependent loans at the time of discharge, regardless of the borrower’s payment history or capacity to repay in the future.

Well-secured loans are collateralized by perfected security interests in real and/or personal property for which the Bancorp estimates proceeds from the sale would be sufficient to recover the outstanding principal and accrued interest balance of the loan and pay all costs to sell the collateral. The Bancorp considers a loan in the process of collection if collection efforts or legal action is proceeding and the Bancorp expects to collect funds sufficient to bring the loan current or recover the entire outstanding principal and accrued interest balance in the near future.

Nonaccrual loans and leases may be returned to accrual status when all delinquent principal and interest payments become current in accordance with the loan agreement and the remaining principal and interest payments are reasonably assured of repayment in accordance with the contractual terms of the loan agreement, or when the loan is both well-secured and in the process of collection. Nonaccrual loans that have been modified for a borrower experiencing financial difficulty may not be returned to accrual status unless such loans have sustained repayment performance of six months or more and are reasonably assured of repayment in accordance with the modified terms. Loans discharged in a Chapter 7 bankruptcy may be returned to accrual status twelve months or more after discharge provided there is a sustained payment history after bankruptcy and collectability is reasonably assured for all remaining contractual payments.

Except for loans discharged in a Chapter 7 bankruptcy that are not reaffirmed by the borrower, accruing residential mortgage loans, home equity loans and lines of credit, indirect secured consumer loans and other consumer loans modified for borrowers experiencing financial difficulty are maintained on accrual status, provided there is reasonable assurance of repayment and of performance according to the modified terms based upon a current, well-documented credit evaluation. Accruing commercial loans modified for borrowers experiencing financial difficulty are maintained on accrual status provided there is a sustained payment history of six months or more prior to the modification and collectability is reasonably assured for all remaining contractual payments under the modified terms. Modifications of commercial loans and credit card loans for borrowers experiencing financial difficulty that do not have a sustained payment history of six months or more in accordance with their modified terms remain on nonaccrual status until a six-month payment history is sustained.
Nonaccrual loans and leases are generally accounted for on the cost recovery method due to the existence of doubt as to the collectability of the remaining amortized cost basis of nonaccrual assets. Under the cost recovery method, any payments received are applied to reduce principal. Once the entire amortized cost basis is collected, additional payments received are treated as recoveries of amounts previously charged-off until recovered in full, and any subsequent payments are treated as interest income. In certain circumstances when the remaining amortized cost basis of a nonaccrual loan or lease is deemed to be fully collectible, the Bancorp may utilize the cash basis method to account for interest payments received on a nonaccrual loan or lease. Under the cash basis method, interest income is recognized when cash is received, to the extent such income would have been accrued on the loan’s remaining balance at the contractual rate.

The Bancorp records a charge-off to the ALLL when all or a portion of a loan or lease is deemed to be uncollectible, after considering the net realizable value of any underlying collateral. Commercial loans and leases on nonaccrual status and criticized commercial loans with aggregate borrower relationships exceeding $1 million are subject to an individual review to identify charge-offs. The Bancorp does not have an established delinquency threshold for partially or fully charging off commercial loans and leases. The Bancorp records charge-offs on consumer loans in accordance with applicable regulatory guidelines, which are primarily based on a loan’s delinquency status.

Loan modifications
In circumstances where an existing loan is modified (including a restructuring, refinancing, or other changes in terms which affect the loan’s contractual cash flows), the Bancorp evaluates whether the modification results in a continuation of the existing loan or the origination of a new loan. The Bancorp accounts for a modification as a new loan if the terms of the modified loan are at least as favorable to the Bancorp as the terms for comparable loans to other borrowers with similar collection risks who are obtaining new loans, or if the modification of terms is considered more than minor. If neither of these conditions are met, then the Bancorp will account for the loan as a continuation of the existing loan. When a modification is accounted for as a new loan, any unamortized net deferred fees or costs from the original loan are recognized in interest income when the new loan is originated. When a modification is accounted for as a continuation of the existing loan, the unamortized net deferred fees or costs from the original loan and any additional incremental direct fees and costs are carried forward and deferred as part of the amortized cost basis of the modified loan.
ALL
ALLL
The Bancorp disaggregates its portfolio loans and leases into portfolio segments for purposes of determining the ALLL. The Bancorp’s portfolio segments include commercial, residential mortgage and consumer. The Bancorp further disaggregates its portfolio segments into classes for purposes of monitoring and assessing credit quality based on certain risk characteristics. Classes within the commercial portfolio segment are based on the purpose of the loan or lease and include commercial and industrial, commercial mortgage owner-occupied, commercial mortgage nonowner-occupied, commercial construction and commercial leases. The residential mortgage portfolio segment is also considered a class. Classes within the consumer portfolio segment are based on the loan product type and include home equity, indirect secured consumer loans, credit card, solar energy installation loans and other consumer loans. For an analysis of the Bancorp’s ALLL by portfolio segment and credit quality information by class, refer to Note 6.

The Bancorp maintains the ALLL to absorb the amount of credit losses that are expected to be incurred over the remaining contractual terms of the related loans and leases. Contractual terms are adjusted for expected prepayments but are not extended for expected extensions, renewals or modifications except in circumstances where extension or renewal options are embedded in the original contract and not unconditionally cancellable by the Bancorp.

Accrued interest receivable on loans is presented in the Consolidated Financial Statements as a component of other assets. When accrued interest is deemed to be uncollectible (typically when a loan is placed on nonaccrual status), interest income is reversed. The Bancorp follows established policies for placing loans on nonaccrual status, so uncollectible accrued interest receivable is reversed in a timely manner. As a result, the Bancorp has elected not to measure a reserve for accrued interest receivable as part of its ALLL. However, the Bancorp does record a reserve for the portion of accrued interest receivable that it expects to be uncollectible. Refer to the Portfolio Loans and Leases section of this footnote for additional information.

Credit losses are charged and recoveries are credited to the ALLL. The ALLL is maintained at a level the Bancorp considers to be adequate and is based on ongoing quarterly assessments and evaluations of the collectability of loans and leases, including historical credit loss experience, current and forecasted market and economic conditions and consideration of various qualitative factors that, in management’s judgment, deserve consideration in estimating expected credit losses. Provisions for credit losses are recorded for the amounts necessary to adjust the ALLL to the Bancorp’s current estimate of expected credit losses on portfolio loans and leases.

The Bancorp’s methodology for determining the ALLL includes an estimate of expected credit losses on a collective basis for groups of loans and leases with similar risk characteristics and specific allowances for loans and leases which are individually evaluated.

Larger commercial loans and leases included within aggregate borrower relationship balances exceeding $1 million on nonaccrual status are individually evaluated for an ALLL. The Bancorp considers the current value of collateral, credit quality of any guarantees, the guarantor’s liquidity and willingness to cooperate, the loan or lease structure (including modifications, if any) and other factors when determining the amount of the ALLL. Other factors may include the borrower’s susceptibility to risks presented by the forecasted macroeconomic
environment, the industry and geographic region of the borrower, size and financial condition of the borrower, cash flow and leverage of the borrower and the Bancorp’s evaluation of the borrower’s management. When loans and leases are individually evaluated, allowances are determined based on management’s estimate of the borrower’s ability to repay the loan or lease given the availability of collateral and other sources of cash flow, as well as an evaluation of legal options available to the Bancorp. Allowances for individually evaluated loans and leases that are collateral-dependent are measured based on the fair value of the underlying collateral, less expected costs to sell where applicable. Allowances for individually evaluated loans and leases that are not collateral-dependent are typically measured based on the present value of expected cash flows of the loan or lease, discounted at its effective interest rate. Specific allowances on individually evaluated commercial loans and leases are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience.

The Bancorp considers loans to be collateral-dependent when it becomes probable that repayment of the loan will be provided through the sale or operation of the collateral instead of from payments made by the borrower. The expected credit losses for these loans are typically estimated based on the fair value of the underlying collateral, less expected costs to sell where applicable. Specific allowances on individually evaluated consumer and residential mortgage loans are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience.

Expected credit losses are estimated on a collective basis for loans and leases that are not individually evaluated. For collectively evaluated loans and leases, the Bancorp uses models to forecast expected credit losses based on the probability of a loan or lease defaulting, the expected balance at the estimated date of default and the expected loss percentage given a default. The estimate of the expected balance at the time of default considers prepayments and, for loans with available credit, expected utilization rates. The Bancorp’s expected credit loss models were developed based on historical credit loss experience and observations of migration patterns for various credit risk characteristics (such as internal credit risk ratings, external credit ratings or scores, delinquency status, loan-to-value trends, etc.) over time, with those observations evaluated in the context of concurrent macroeconomic conditions. The Bancorp developed its models from historical observations capturing a full economic cycle when possible.

The Bancorp’s expected credit loss models consider historical credit loss experience, current market and economic conditions, and forecasted changes in market and economic conditions if such forecasts are considered reasonable and supportable. Generally, the Bancorp considers its forecasts to be reasonable and supportable for a period of up to three years from the estimation date. For periods beyond the reasonable and supportable forecast period, expected credit losses are estimated by reverting to historical loss information without adjustment for changes in economic conditions. This reversion is phased in over a two-year period. The Bancorp evaluates the length of its reasonable and supportable forecast period, its reversion period and reversion methodology at least annually, or more often if warranted by economic conditions or other circumstances.

The Bancorp also considers qualitative factors in determining the ALLL in order to capture characteristics in the portfolio that impact expected credit losses but are not fully captured within the Bancorp’s expected credit loss models. These may include adjustments for changes in policies or procedures in underwriting, monitoring or collections, lending and risk management personnel and results of internal audit and quality control reviews. These may also include adjustments, when deemed necessary, for specific idiosyncratic risks such as geopolitical events, natural disasters and their effects on regional borrowers, changes in product structures or changes in economic conditions that are not reflected in the quantitative credit loss models. Qualitative factor adjustments may also be used to address the impacts of unforeseen events on key inputs and assumptions within the Bancorp’s expected credit loss models, such as the reasonable and supportable forecast period, changes to historical loss information or changes to the reversion period or methodology.

When evaluating the adequacy of allowances, consideration is also given to regional geographic concentrations and the closely associated effect that changing economic conditions may have on the Bancorp’s customers.
Reserve for Unfunded Commitments
Reserve for Unfunded Commitments
The reserve for unfunded commitments is maintained at a level believed by management to be sufficient to absorb estimated expected credit losses related to unfunded credit facilities and is included in other liabilities in the Consolidated Balance Sheets. The determination of the adequacy of the reserve is based upon expected credit losses over the remaining contractual life of the commitments, taking into consideration the current funded balance and estimated exposure over the reasonable and supportable forecast period. This process takes into consideration the same risk elements that are analyzed in the determination of the adequacy of the Bancorp’s ALLL, as previously discussed. Net adjustments to the reserve for unfunded commitments are included in the provision for credit losses in the Consolidated Statements of Income.
Loans and Leases Held for Sale
Loans and Leases Held for Sale
Loans and leases held for sale primarily represent conforming fixed-rate residential mortgage loans originated or acquired with the intent to sell in the secondary market and jumbo residential mortgage loans, commercial loans, other residential mortgage loans and other consumer loans that management has the intent to sell. Loans and leases held for sale may be carried at the lower of cost or fair value, or carried at fair value where the Bancorp has elected the fair value option of accounting under U.S. GAAP. The Bancorp has elected to measure certain groups of loans held for sale under the fair value option, including certain residential mortgage loans originated as held for sale and certain
purchased commercial loans designated as held for sale at acquisition. For loans in which the Bancorp has not elected the fair value option, the lower of cost or fair value is determined at the individual loan level.

The fair value of residential mortgage loans held for sale for which the fair value election has been made is estimated based upon mortgage-backed securities prices and spreads to those prices or, for certain ARM loans, DCF models that may incorporate the anticipated portfolio composition, credit spreads of asset-backed securities with similar collateral and market conditions. The anticipated portfolio composition includes the effects of interest rate spreads and discount rates due to loan characteristics such as the state in which the loan was originated, the loan amount and the ARM margin. These fair value marks are recorded as a component of noninterest income in mortgage banking net revenue in the Consolidated Statements of Income. For residential mortgage loans that it has originated as held for sale, the Bancorp generally has commitments to sell these loans in the secondary market. Gains or losses on sales are recognized in mortgage banking net revenue in the Consolidated Statements of Income.

Management’s intent to sell residential mortgage loans classified as held for sale may change over time due to such factors as changes in the overall liquidity in markets or changes in characteristics specific to certain loans held for sale. Consequently, these loans may be reclassified to loans held for investment and, thereafter, reported within the Bancorp’s residential mortgage class of portfolio loans and leases. In such cases, if the fair value option was elected, the residential mortgage loans will continue to be measured at fair value, which is based on mortgage-backed securities prices, interest rate risk and an internally developed credit component.

Loans and leases held for sale are placed on nonaccrual status consistent with the Bancorp’s nonaccrual policies for portfolio loans and leases.
Loan Sales and Securitizations
Loan Sales and Securitizations
The Bancorp periodically sells loans through either securitizations or individual loan sales in accordance with its investment policies. The sold loans are removed from the Consolidated Balance Sheet and a net gain or loss is recognized in the Consolidated Financial Statements at the time of sale. The Bancorp typically isolates the loans through the use of a VIE and thus is required to assess whether the entity holding the sold or securitized loans is a VIE and whether the Bancorp is the primary beneficiary and therefore consolidator of that VIE. If the Bancorp holds the power to direct activities most significant to the economic performance of the VIE and has the obligation to absorb losses or right to receive benefits that could potentially be significant to the VIE, then the Bancorp will generally be deemed the primary beneficiary of the VIE. If the Bancorp is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under the equity method of accounting or other accounting standards as appropriate. Refer to Note 12 for further information on consolidated and non-consolidated VIEs.

The Bancorp’s loan sales and securitizations are generally structured with servicing retained, which often results in the recording of servicing rights. The Bancorp may also purchase servicing rights. The Bancorp has elected to measure all existing classes of its residential mortgage servicing rights portfolio at fair value with changes in the fair value of servicing rights reported in mortgage banking net revenue in the Consolidated Statements of Income in the period in which the changes occur.

Servicing rights are valued using internal OAS models. Key economic assumptions used in estimating the fair value of the servicing rights include the prepayment speeds of the underlying loans, the weighted-average life, the OAS and the weighted-average coupon rate, as applicable. The primary risk of material changes to the value of the servicing rights resides in the potential volatility in the economic assumptions used, particularly the prepayment speeds. In order to assist in the assessment of the fair value of servicing rights, the Bancorp obtains external valuations of the servicing rights portfolio from third parties and participates in peer surveys that provide additional confirmation of the reasonableness of the key assumptions utilized in the internal OAS model.

Fees received for servicing loans owned by investors are based on a percentage of the outstanding monthly principal balance of such loans and are included in noninterest income in the Consolidated Statements of Income as loan payments are received. Costs of servicing loans are charged to expense as incurred.
Reserve for Representation and Warranty Provisions
Reserve for Representation and Warranty Provisions
Conforming residential mortgage loans sold to unrelated third parties are generally sold with representation and warranty provisions. A contractual liability arises only in the event of a breach of these representations and warranties and, in general, only when a loss results from the breach. The Bancorp may be required to repurchase any previously sold loan or indemnify (make whole) the investor or insurer for which the representation or warranty of the Bancorp proves to be inaccurate, incomplete or misleading. The Bancorp establishes a residential mortgage repurchase reserve related to various representations and warranties that reflects management’s estimate of losses based on a combination of factors.

The Bancorp’s estimation process requires management to make subjective and complex judgments about matters that are inherently uncertain, such as future demand expectations, economic factors and the specific characteristics of the loans subject to repurchase. Such factors incorporate historical investor audit and repurchase demand rates, appeals success rates, historical loss severity and any additional information obtained from the GSEs regarding future mortgage repurchase and file request criteria. At the time of a loan sale, the Bancorp records a representation and warranty reserve at the estimated fair value of the Bancorp’s guarantee and continually updates the reserve
during the life of the loan as losses in excess of the reserve become probable and reasonably estimable. The provision for the estimated fair value of the representation and warranty guarantee arising from the loan sales is recorded as an adjustment to the gain on sale, which is included in other noninterest income in the Consolidated Statements of Income at the time of sale. Updates to the reserve are recorded in other noninterest expense in the Consolidated Statements of Income.
Bank Premises and Equipment and Other Long-Lived Assets
Bank Premises and Equipment and Other Long-Lived Assets
Bank premises and equipment, including leasehold improvements, and operating lease equipment are carried at cost less accumulated depreciation and accumulated amortization. Generally, depreciation is calculated using the straight-line method based on estimated useful lives of the assets for book purposes, while accelerated depreciation is used for income tax purposes. Amortization of leasehold improvements is generally computed using the straight-line method over the lives of the related leases or useful lives of the related assets, whichever is shorter. Whenever events or changes in circumstances dictate, the Bancorp tests its long-lived assets for impairment by determining whether the sum of the estimated undiscounted future cash flows attributable to a long-lived asset or asset group is less than the carrying amount of the long-lived asset or asset group through a probability-weighted approach. In the event the carrying amount of the long-lived asset or asset group is not recoverable, an impairment loss is measured as the amount by which the carrying amount of the long-lived asset or asset group exceeds its fair value. Maintenance, repairs and minor improvements are charged to noninterest expense in the Consolidated Statements of Income as incurred. Lease payments received for operating lease equipment are recognized in commercial banking revenue in the Consolidated Statements of Income over the lease term on a straight-line basis unless another systematic and rational basis is more representative of the pattern in which benefit is expected to be derived from use of the underlying equipment.
Lessee Accounting
Lessee Accounting
ROU assets and lease liabilities are recognized for all leases unless the initial term of the lease is twelve months or less. Lease costs for operating leases are recognized on a straight-line basis over the lease term unless another systematic basis is more representative of the pattern of consumption. The lease term includes any renewal period that the Bancorp is reasonably certain to exercise. The Bancorp uses its incremental borrowing rate to discount the lease payments if the rate implicit in the lease is not readily determinable. Variable lease payments associated with operating leases are recognized in the period in which the obligation for payments is incurred.

For finance leases, the lease liability is measured using the effective interest method such that the liability is increased for interest based on the discount rate that is implicit in the lease or the Bancorp’s incremental borrowing rate if the implicit rate cannot be readily determined, offset by a decrease in the liability resulting from the periodic lease payments. The ROU asset associated with the finance lease is amortized on a straight-line basis unless there is another systematic and rational basis that better reflects how the benefits of the underlying assets are consumed over the lease term. The period over which the ROU asset is amortized is generally the lesser of the remaining lease term or the remaining useful life of the leased asset. Variable lease payments associated with finance leases are recognized in the period in which the obligation for those payments is incurred.

When the lease liability is remeasured to reflect changes to the lease payments as a result of a lease modification, the ROU asset is adjusted for the amount of the lease liability remeasurement. If a lease modification reduces the scope of a lease, the ROU asset would be reduced proportionately based on the change in the lease liability and the difference between the lease liability adjustment and the resulting ROU asset adjustment would be recognized as a gain or loss in the Consolidated Statements of Income. Additionally, the amortization of the ROU asset is adjusted prospectively from the date of remeasurement.

The Bancorp performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. Any impairment loss is recognized in net occupancy expense in the Consolidated Statements of Income. Refer to the Bank Premises and Equipment and Other Long-Lived Assets section of this note for further information.
Goodwill
Goodwill
Business combinations entered into by the Bancorp typically include the recognition of goodwill. U.S. GAAP requires goodwill to be tested for impairment at the reporting unit level on an annual basis and more frequently if events or circumstances indicate that there may be impairment. Historically, the Bancorp’s annual goodwill impairment test was performed as of September 30 of each year. However, in 2024, the testing was performed as of September 30 and again as of October 1 to reflect the change in date in which the Bancorp will perform its annual goodwill impairment testing in future periods. The Bancorp does not consider this change to be material, and the change in assessment date did not delay, accelerate, or avoid a potential impairment charge. The new testing date is in close proximity to the previous assessment date and the testing methods and valuation inputs were not significantly affected by the change, resulting in consistent conclusions.

Impairment exists when a reporting unit’s carrying amount of goodwill exceeds its implied fair value. In testing goodwill for impairment, U.S. GAAP permits the Bancorp to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. In this qualitative assessment, the Bancorp evaluates events and circumstances which may include, but are not limited to, the general economic environment, banking industry and market conditions, the overall financial performance of the Bancorp, the performance of the Bancorp’s common stock, the key financial performance metrics of the Bancorp’s reporting units and events affecting the reporting units to determine if it is not more likely than not that the fair value of a reporting unit is less than its carrying amount. If the quantitative impairment test is required or the decision to bypass the qualitative assessment is elected, the Bancorp performs the goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying
amount of the reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. A recognized impairment loss cannot be reversed in future periods even if the fair value of the reporting unit subsequently recovers.

The fair value of a reporting unit is the price that would be received to sell the unit as a whole in an orderly transaction between market participants at the measurement date. As none of the Bancorp’s reporting units are publicly traded, individual reporting unit fair value determinations cannot be directly correlated to the Bancorp’s stock price. The determination of the fair value of a reporting unit is a subjective process that involves the use of estimates and judgments, particularly related to cash flows, the appropriate discount rates and an applicable control premium. The determination of the fair value of the Bancorp’s reporting units includes both an income-based approach and a market-based approach. The income-based approach utilizes the reporting unit’s forecasted cash flows (including a terminal value approach to estimate cash flows beyond the final year of the forecast) and the reporting unit’s estimated cost of equity as the discount rate. Significant management judgment is necessary in the preparation of each reporting unit’s forecasted cash flows surrounding expectations for earnings projections, growth and credit loss expectations and actual results may differ from forecasted results. Additionally, the Bancorp determines its market capitalization based on the average of the closing price of the Bancorp’s stock during the period beginning September 1 and ending on the measurement date, incorporating an additional control premium, and compares this market-based fair value measurement to the aggregate fair value of the Bancorp’s reporting units in order to corroborate the results of the income approach. Refer to Note 10 for further information regarding the Bancorp’s goodwill.
Tax Credit Investments
Tax Credit Investments
The Bancorp invests in projects to create affordable housing and revitalize business and residential areas. These investments are classified as other assets on the Bancorp’s Consolidated Balance Sheets. Investments in projects that qualify for Low-Income Housing Tax Credits, New Markets Tax Credits and Rehabilitation Investment Tax Credits are accounted for using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other benefits received and recognized as a component of applicable income tax expense in the Consolidated Statements of Income. Investments which do not meet the qualification criteria for the proportional amortization method are accounted for using the equity method of accounting with impairment associated with the investments recognized in other noninterest expense in the Consolidated Statements of Income.
Derivative Financial Instruments and Hedge Accounting
Derivative Financial Instruments and Hedge Accounting
The Bancorp accounts for its derivatives as either assets or liabilities measured at fair value through adjustments to AOCI and/or current earnings, as appropriate. The related cash flows are classified as operating activities in the Consolidated Statements of Cash Flows. On the date the Bancorp enters into a derivative contract, the Bancorp designates the derivative instrument as either a fair value hedge, cash flow hedge or as a free-standing derivative instrument. For a fair value hedge, changes in the fair value of the derivative instrument and changes in the fair value of the hedged asset or liability attributable to the hedged risk are recorded in current period net income. For a cash flow hedge, changes in the fair value of the derivative instrument are recorded in AOCI and subsequently reclassified to net income in the same period(s) that the hedged transaction impacts net income. For free-standing derivative instruments, changes in fair values are reported in current period net income.

When entering into a hedge transaction, the Bancorp formally documents the relationship between the hedging instrument and the hedged item, as well as the risk management objective and strategy for undertaking the hedge transaction before the end of the quarter in which the transaction is consummated. This process includes linking the derivative instrument designated as a fair value or cash flow hedge to a specific asset or liability on the balance sheet or to specific forecasted transactions and the risk being hedged, along with a formal assessment at the inception of the hedge as to the effectiveness of the derivative instrument in offsetting changes in fair values or cash flows of the hedged item. The Bancorp continues to assess hedge effectiveness on an ongoing basis using either a qualitative or a quantitative assessment (regression analysis). Additionally, the Bancorp may also utilize the shortcut method to evaluate hedge effectiveness for certain qualifying hedges with matched terms that permit the assumption of perfect offset. If the shortcut method is no longer appropriate, the Bancorp would apply the long-haul method identified at inception of the hedging transaction for assessing hedge effectiveness as long as the hedge is highly effective. If it is determined that the derivative instrument is not highly effective as a hedge, hedge accounting is discontinued. For fair value hedges, if hedge accounting is discontinued, the cumulative basis adjustments related to the hedged asset or liability are amortized to earnings in the same manner as other components of the carrying amount of that asset or liability. For cash flow hedges, upon discontinuation of hedge accounting, any amounts in AOCI related to that relationship should affect earnings at the same time and in the same manner in which the hedged transaction affects earnings. However, if it becomes probable that the forecasted transaction will not occur, any related amounts in AOCI are reclassified to earnings immediately.
Other Real Estate Owned
Other Real Estate Owned
OREO, which is included in other assets in the Consolidated Balance Sheets, represents property acquired through foreclosure or other proceedings and branch-related real estate no longer intended to be used for banking purposes. OREO is carried at the lower of cost or fair value, less costs to sell. All OREO property is periodically evaluated for impairment and decreases in carrying value are recognized as reductions in other noninterest income in the Consolidated Statements of Income. For government-guaranteed mortgage loans, upon foreclosure, a separate other receivable is recognized if certain conditions are met for the amount of the loan balance (principal and interest)
expected to be recovered from the guarantor. This receivable is also included in other assets, separate from OREO, in the Consolidated Balance Sheets.
Deposits
Deposits
Deposits generally include the unpaid balance of cash or its equivalent received or held by the Bank for its commercial and consumer customers. Deposits are classified as either transactional or non-transactional and include both interest-bearing and noninterest-bearing balances. Interest expense incurred on interest-bearing deposits is recognized in accordance with applicable guidance in U.S. GAAP for these liabilities and includes certain ongoing deposit placement fees paid on custodial accounts.
Legal Contingencies
Legal Contingencies
The Bancorp and its subsidiaries are parties to numerous claims and lawsuits as well as threatened or potential actions or claims concerning matters arising from the conduct of its business activities. The outcome of claims or litigation and the timing of ultimate resolution are inherently difficult to predict and significant judgment may be required in the determination of both the probability of loss and whether the amount of the loss is reasonably estimable. The Bancorp’s estimates are subjective and are based on the status of legal and regulatory proceedings, the merit of the Bancorp’s defenses and consultation with internal and external legal counsel. An accrual for a potential litigation loss is established when information related to the loss contingency indicates both that a loss is probable and that the amount of loss can be reasonably estimated. This accrual is included in other liabilities in the Consolidated Balance Sheets and is adjusted from time to time as appropriate to reflect changes in circumstances. Legal expenses are recorded in other noninterest expense in the Consolidated Statements of Income.
Income Taxes
Income Taxes
The Bancorp accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for expected future tax consequences. Under the asset and liability method, deferred tax assets and liabilities are determined by applying the federal and state tax rates to the differences between financial statement carrying amounts and the corresponding tax bases of assets and liabilities. Deferred tax assets are also recorded for any tax attributes, such as tax credits and net operating loss carryforwards. The net balances of deferred tax assets and liabilities are reported in other assets and accrued taxes, interest and expenses in the Consolidated Balance Sheets. Any effect of a change in federal or state tax rates on deferred tax assets and liabilities is recognized in income tax expense in the period that includes the enactment date. The Bancorp reflects the expected amount of income tax to be paid or refunded during the year as current income tax expense or benefit. Accrued taxes represent the net expected amount due to and/or from taxing jurisdictions and are reported in accrued taxes, interest and expenses in the Consolidated Balance Sheets. The Bancorp uses the deferral method of accounting on investments that generate investment tax credits. Under this method, the investment tax credits are recognized as a reduction to the related asset.

The Bancorp evaluates the realization of deferred tax assets based on all positive and negative evidence available at the balance sheet date. Realization of deferred tax assets is based on the Bancorp’s judgment about relevant factors affecting their realization, including the taxable income within any applicable carry back periods, future projected taxable income, the reversal of taxable temporary differences and tax planning strategies. The Bancorp records a valuation allowance for deferred tax assets where the Bancorp does not believe that it is more likely than not that the deferred tax assets will be realized.

Income tax benefits from uncertain tax positions are recognized in the financial statements only if the Bancorp believes that it is more likely than not that the uncertain tax position will be sustained based solely on the technical merits of the tax position and consideration of the relevant taxing authority’s widely understood administrative practices and precedents. If the Bancorp does not believe that it is more likely than not that an uncertain tax position will be sustained, the Bancorp records a liability for the uncertain tax position. If the Bancorp believes that it is more likely than not that an uncertain tax position will be sustained, the Bancorp only records a tax benefit for the portion of the uncertain tax position where the likelihood of realization is greater than 50% upon settlement with the relevant taxing authority that has full knowledge of all relevant information. The Bancorp recognizes interest expense, interest income and penalties related to unrecognized tax benefits within applicable income tax expense in the Consolidated Statements of Income. Refer to Note 21 for further discussion regarding income taxes.
Fair Value Measurements
Fair Value Measurements
The Bancorp measures certain financial assets and liabilities at fair value in accordance with U.S. GAAP, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Bancorp employs various valuation approaches to measure fair value including the market, income and cost approaches. The market approach uses prices or relevant information generated by market transactions involving identical or comparable assets or liabilities. The income approach involves discounting future amounts to a single present amount and is based on current market expectations about those future amounts. The cost approach is based on the amount that currently would be required to replace the service capacity of the asset.

U.S. GAAP establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). A financial instrument’s categorization within the fair value hierarchy is based upon the
lowest level of input that is significant to the instrument’s fair value measurement. The three levels within the fair value hierarchy are described as follows:

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Bancorp has the ability to access at the measurement date.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 – Unobservable inputs for the asset or liability for which there is little, if any, market activity at the measurement date. Unobservable inputs reflect the Bancorp’s own assumptions about what market participants would use to price the asset or liability. The inputs are developed based on the best information available in the circumstances, which might include the Bancorp’s own financial data such as internally developed pricing models and DCF methodologies, as well as instruments for which the fair value determination requires significant management judgment.

The Bancorp’s fair value measurements involve various valuation techniques and models, which involve inputs that are observable, when available. Valuation techniques and parameters used for measuring assets and liabilities are reviewed and validated by the Bancorp on a quarterly basis. Additionally, the Bancorp monitors the fair values of significant assets and liabilities using a variety of methods including the evaluation of pricing runs and exception reports based on certain analytical criteria, comparison to previous trades and overall review and assessments for reasonableness. The Bancorp may, as a practical expedient, measure the fair value of certain investments on the basis of the net asset value per share of the investment, or its equivalent. Any investments which are valued using this practical expedient are not classified in the fair value hierarchy. Refer to Note 28 for further information on fair value measurements.
Revenue Recognition
Revenue Recognition
The Bancorp’s interest income is derived from loans and leases, investment securities and other short-term investments. The Bancorp recognizes interest income in accordance with the applicable guidance in U.S. GAAP for these assets. Refer to the Portfolio Loans and Leases and Investment Securities sections of this footnote for further information.

The Bancorp generally measures noninterest income revenue based on the amount of consideration the Bancorp expects to be entitled for the transfer of goods or services to a customer, then recognizes this revenue when or as the Bancorp satisfies its performance obligations under the contract, except in transactions where U.S. GAAP provides other applicable guidance. When the amount of consideration is variable, the Bancorp will only recognize revenue to the extent that it is probable that the cumulative amount recognized will not be subject to a significant reversal in the future. Substantially all of the Bancorp’s contracts with customers have expected durations of one year or less and payments are typically due when or as the services are rendered or shortly thereafter. When third parties are involved in providing goods or services to customers, the Bancorp recognizes revenue on a gross basis when it has control over those goods or services prior to transfer to the customer; otherwise, revenue is recognized for the net amount of any fee or commission. The Bancorp excludes sales taxes from the recognition of revenue and recognizes the incremental costs of obtaining contracts as an expense if the period of amortization for those costs would be one year or less. The following provides additional information about the components of noninterest income:
•Wealth and asset management revenue consists primarily of service fees for investment management, custody, and trust administration services provided to commercial and consumer clients. The Bancorp’s performance obligations for these services are generally satisfied over time and revenues are recognized monthly based on the fee structure outlined in individual contracts. Transaction prices are most commonly based on the market value of assets under management or care and/or a fee per transaction processed. The Bancorp also offers certain services for which the performance obligations are satisfied and revenue is recognized at a point in time, when the services are performed. Wealth and asset management revenue also includes trailing commissions received from investments and annuities held in customer accounts, which are recognized in revenue when the Bancorp determines that it has satisfied its performance obligations and has sufficient information to estimate the amount of the commissions to which it expects to be entitled.
•Commercial payments revenue consists primarily of treasury management fees for commercial clients, monthly service charges on commercial deposit accounts and revenue related to commercial cards associated with commercial client relationships. The Bancorp’s treasury management fees include revenues for traditional treasury management services as well as embedded payments services. Monthly service charges are typically collected from customers directly from the related deposit account at the time the transaction is processed and/or at the end of the customer’s statement cycle (typically monthly). Commercial card revenue includes interchange fees earned when commercial cards are processed through card association networks, revenue derived from the Bancorp’s relationships with card processors and transaction-based fees charged directly to commercial clients. The performance obligations for treasury management fees and service charges on deposits are typically satisfied over time while performance obligations for transaction-based fees are typically satisfied at a point in time when the transactions generating the fees are processed. Revenues are recognized on an accrual basis when or as the services are provided to the customer, net of applicable discounts, waivers, reversals, and costs not controlled by the Bancorp (primarily interchange fees charged by credit card associations and expenses of certain transaction-based rewards programs offered to customers).
•Consumer banking revenue consists primarily of interchange fees earned when the Bancorp’s consumer credit and debit cards are processed through card association networks, monthly service charges on consumer deposit accounts and other deposit account-related charges, transaction-based fees (such as late fees, overdraft fees and wire transfer fees) for consumer loans and deposits, and fees related to ancillary services provided to consumers. The Bancorp’s performance obligations for transaction-based fees are typically satisfied at a point in time when the transactions generating the fees are processed while performance obligations for consumer deposit account service charges are typically satisfied over time. Revenues are recognized on an accrual basis when or as the services are provided to the customer, net of applicable discounts, waivers, reversals, and certain costs not controlled by the Bancorp (primarily interchange fees charged by credit card associations and expenses of certain transaction-based rewards programs offered to customers). Revenue related to consumer loans is recognized in accordance with the Bancorp’s policies for portfolio loans and leases.
•Capital markets fees consist primarily of underwriting revenue recognized by the Bancorp’s broker-dealer subsidiary, syndication fees for commercial loans, merger and acquisition advisory fees and income earned related to financial risk management services provided to commercial clients. Underwriting revenue is generally recognized on the trade date, which is when the Bancorp’s performance obligations are satisfied. Syndication fees are recognized in income when the syndication is complete unless a portion of the loan is retained in the transaction, in which case the Bancorp’s policies for portfolio loans and leases would apply. Merger and acquisition advisory fees are recognized in income at a point in time when the transactions generating the fees are completed. Income from financial risk management services is primarily related to customer accommodation derivatives and is recognized in accordance with the Bancorp’s policies for derivative financial instruments.
•Commercial banking revenue consists primarily of service fees and other income related to lending activity to commercial clients and leasing business revenue, which includes operating lease income, lease remarketing fees and lease syndication fees. Revenue related to loans and leases is recognized in accordance with either the Bancorp’s policies for portfolio loans and leases or when the Bancorp’s performance obligations are satisfied.
•Mortgage banking net revenue consists primarily of origination fees and gains on loan sales, mortgage servicing fees and the impact of MSRs. Refer to the Loans and Leases Held for Sale and Loan Sales and Securitizations sections of this footnote for further information.
•Other noninterest income primarily includes BOLI income, private equity income, gains and losses on other assets and other miscellaneous revenues and gains.
Earnings Per Share
Earnings Per Share
Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Earnings per diluted share is computed by dividing adjusted net income available to common shareholders by the weighted-average number of shares of common stock outstanding, adjusted for the impact of potentially dilutive common shares arising from the exercise or settlement of stock-based awards and the settlement of outstanding forward contracts.

The Bancorp calculates earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share separately for common stock and participating securities according to dividends declared and participation rights in undistributed earnings. For purposes of calculating earnings per share under the two-class method, restricted shares that contain nonforfeitable rights to dividends are considered participating securities until vested. While the dividends declared per share on such restricted shares are the same as dividends declared per common share outstanding, the dividends recognized on such restricted shares may be less because dividends paid on restricted shares that are expected to be forfeited are reclassified to compensation expense during the period when forfeiture is expected.
Pension Plans
Pension Plans
The Bancorp uses an expected long-term rate of return applied to the fair market value of assets as of the beginning of the year and the expected cash flow during the year for calculating the expected investment return on all pension plan assets. Amortization of the net gain or loss resulting from experience different from that assumed and from changes in assumptions (excluding asset gains and losses not yet reflected in market-related value) is included as a component of net periodic benefit cost. If, as of the beginning of the year, that net gain or loss exceeds 10% of the greater of the projected benefit obligation and the market-related value of plan assets, the amortization is that excess divided by the average remaining service period of participating employees expected to receive benefits under the plan. The Bancorp uses a third-party actuary to compute the remaining service period of participating employees. This period reflects expected turnover, pre-retirement mortality and other applicable employee demographics.
Stock-Based Compensation
Stock-Based Compensation
The Bancorp recognizes compensation expense for the grant-date fair value of stock-based awards that are expected to vest over the requisite service period. All awards, both those with cliff vesting and graded vesting, are expensed on a straight-line basis over the requisite service period. Awards to employees that meet eligible retirement status are expensed immediately. As compensation expense is recognized, a deferred tax asset is recorded that represents an estimate of the future tax deduction from exercise or release of restrictions. At the time awards are exercised, cancelled, expire or restrictions are released, the Bancorp recognizes an adjustment to income tax expense for the difference between the previously estimated tax deduction and the actual tax deduction realized.
Other
Other
Securities and other property held in a trust or fiduciary capacity by divisions of the Bancorp’s banking subsidiary are not included in the Consolidated Balance Sheets because such items are not assets of the subsidiaries.

Other short-term investments have original maturities less than one year and primarily include interest-bearing balances that are funds on deposit at other depository institutions or the FRB. The Bancorp uses other short-term investments as part of its liquidity risk management activities.

The Bancorp purchases life insurance policies on the lives of certain directors, officers and employees and is the owner and beneficiary of the policies. The Bancorp invests in these policies, known as BOLI, to provide an efficient form of funding for long-term retirement and other employee benefits costs. Certain BOLI policies have a stable value agreement through either a large, well-rated bank or multi-national insurance carrier that provides limited cash surrender value protection from declines in the value of each policy’s underlying investments. The Bancorp records these BOLI policies within other assets in the Consolidated Balance Sheets at each policy’s respective cash surrender value, with changes recorded in other noninterest income in the Consolidated Statements of Income.

Intangible assets are amortized on either a straight-line or an accelerated basis over their estimated useful lives and, based on the type of intangible asset, the amortization expense may be recorded in either commercial banking revenue or other noninterest expense in the Consolidated Statements of Income. The Bancorp reviews intangible assets for impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable.

Securities sold under repurchase agreements are accounted for as secured borrowings and included in other short-term borrowings in the Consolidated Balance Sheets at the amounts at which the securities were sold plus accrued interest.

Acquisitions of treasury stock are carried at cost and are subject to a non-deductible excise tax of 1% of the net fair market value of stock repurchased during a given tax year. The amount of taxable repurchases is reduced by the fair market value of stock which is issued within the same tax year, including stock issued as part of stock-based compensation plans. The Bancorp accounts for this excise tax as a cost of acquiring treasury stock and includes the estimated incremental tax liability associated with individual share repurchase transactions as part of the cost basis of the shares repurchased. Reissuance of shares in treasury for acquisitions, exercises of stock-based awards or other corporate purposes is recorded based on the specific identification method.

Advertising costs are generally expensed as incurred.
Accounting and Reporting Developments
ACCOUNTING AND REPORTING DEVELOPMENTS
Standards Adopted in 2024
The Bancorp adopted the following new accounting standards effective January 1, 2024:

ASU 2022-03 – Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions
In June 2022, the FASB issued ASU 2022-03, which clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to contractual sale restrictions, stating that such restrictions are not considered part of the unit of account of the security and therefore are not considered in measuring fair value. The amended guidance also requires disclosure of the fair value of equity securities subject to contractual sale restrictions and certain additional information about those restrictions. The Bancorp adopted the amended guidance on January 1, 2024 on a prospective basis. The adoption did not have a material impact on the Bancorp’s Consolidated Financial Statements.

ASU 2023-02 – Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method
In March 2023, the FASB issued ASU 2023-02, which expands the permitted usage of the proportional amortization method to include additional tax credit investment programs beyond qualifying LIHTC structures if certain conditions are met. The amended guidance permits entities to make elections to apply the proportional amortization method on a program-by-program basis for qualifying programs and also makes certain amendments to measurement and disclosure guidance. The amended disclosure guidance applies to all investments within programs where the proportional amortization method has been elected, including investments within those programs which do not meet the criteria to permit application of the proportional amortization method. The Bancorp adopted the amended guidance on January 1, 2024 on a modified retrospective basis, except for certain provisions which the Bancorp adopted on a prospective basis, as permitted. Upon adoption, the Bancorp recorded a cumulative-effect adjustment to decrease retained earnings by $10 million, net of tax.

ASU 2023-07 – Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
In November 2023, the FASB issued ASU 2023-07, which amends the disclosure requirements for reportable segments. The amendments include new requirements to disclose certain significant segment expenses and other items, the title and position of the chief operating decision maker and information about how the reported measures of segment profit or loss are used in assessing segment performance. The amendments also make certain annual disclosure requirements applicable to interim periods and permit the reporting of multiple measures of segment profit or loss if appropriate. The Bancorp implemented the amended guidance on a retrospective basis beginning with this Annual
Report on Form 10-K for the year ended December 31, 2024 and will also apply the amended guidance to interim reporting periods beginning in 2025. The amended disclosures are presented in Note 31.

Significant Accounting Standards Issued but Not Yet Adopted
The following significant accounting standards were issued but not yet adopted by the Bancorp as of December 31, 2024:

ASU 2023-09 – Income Taxes (Topic 740): Improvements to Income Tax Disclosures
In December 2023, the FASB issued ASU 2023-09, which amends the disclosure requirements for income taxes. The amendments primarily include new requirements to disclose additional information as part of the reconciliation of the effective tax rate to statutory tax rates, provide the amount of income taxes paid, net of refunds received, and income tax expense disaggregated between federal, state and foreign jurisdictions and provide income before income taxes disaggregated between domestic and foreign jurisdictions. The amendments also discontinue certain other disclosure requirements. The Bancorp adopted the amended guidance on January 1, 2025 on a prospective basis and will provide the amended disclosures within its Annual Report on Form 10-K for the year ended December 31, 2025.

ASU 2024-03 – Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
In November 2024, the FASB issued ASU 2024-03, which introduces new requirements to disclose additional information about certain types of expenses, including employee compensation, depreciation, intangible asset amortization and selling expenses. The amended guidance is effective for the Bancorp for the year ending December 31, 2027 and subsequent interim reporting periods beginning in 2028, with early adoption permitted, and is to be applied prospectively, with retrospective application permitted. The Bancorp is in the process of evaluating the impact of the amended guidance on its Consolidated Financial Statements
v3.25.0.1
Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2024
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]  
Noncash Investing and Financing Activities
Cash payments related to interest and income taxes in addition to non-cash investing and financing activities are presented in the following table for the years ended December 31:
($ in millions)202420232022
Cash Payments:
Interest$4,871 3,776 869 
Income taxes195 655 272 
Transfers:
Portfolio loans and leases to loans and leases held for sale$422 513 105 
Loans and leases held for sale to portfolio loans and leases4 6 409 
Portfolio loans and leases to OREO23 12 8 
Bank premises and equipment to OREO9 30 24 
Available-for-sale debt securities to held-to-maturity securities(a)
11,593 — — 
Supplemental Disclosures:
Net additions to lease liabilities under operating leases
$74 72 152 
Net additions (reductions) to lease liabilities under finance leases44 (6)27 
(a)Represents the fair value of the securities on the date of transfer. Refer to Note 4 for additional information.
v3.25.0.1
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities
The following tables provide the amortized cost, unrealized gains and losses and fair value for the major categories of the available-for-sale debt and other securities and held-to-maturity securities portfolios as of December 31:
2024
($ in millions)Amortized CostUnrealized GainsUnrealized LossesFair
Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,358 2 — 4,360 
Obligations of states and political subdivisions securities— — — — 
Mortgage-backed securities:
Agency residential mortgage-backed securities6,460 — (779)5,681 
Agency commercial mortgage-backed securities23,853 1 (3,022)20,832 
Non-agency commercial mortgage-backed securities4,505 — (338)4,167 
Asset-backed securities and other debt securities3,924 3 (198)3,729 
Other securities(a)
778 — — 778 
Total available-for-sale debt and other securities$43,878 6 (4,337)39,547 
Held-to-maturity securities:(b)
U.S. Treasury and federal agencies securities$2,370 — (26)2,344 
Mortgage-backed securities:
Agency residential mortgage-backed securities4,898 — (197)4,701 
Agency commercial mortgage-backed securities4,008 — (90)3,918 
Asset-backed securities and other debt securities2 — — 2 
Total held-to-maturity securities$11,278 — (313)10,965 
(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $276, $500 and $2, respectively, at December 31, 2024, that are carried at cost.
(b)The amortized cost basis includes a discount of $865 at December 31, 2024 pertaining to the remaining unamortized portion of unrealized losses on securities transferred to HTM.

2023
($ in millions)Amortized CostUnrealized GainsUnrealized LossesFair
Value
Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,477 1 (142)4,336 
Obligations of states and political subdivisions securities2 — — 2 
Mortgage-backed securities:
Agency residential mortgage-backed securities11,564 — (1,282)10,282 
Agency commercial mortgage-backed securities28,945 5 (3,230)25,720 
Non-agency commercial mortgage-backed securities4,872 — (427)4,445 
Asset-backed securities and other debt securities5,207 3 (298)4,912 
Other securities(a)
722 — — 722 
Total available-for-sale debt and other securities$55,789 9 (5,379)50,419 
Held-to-maturity securities:
Asset-backed securities and other debt securities$2 — — 2 
Total held-to-maturity securities$2 — — 2 
(a)Other securities consist of FHLB, FRB and DTCC restricted stock holdings of $224, $496 and $2, respectively, at December 31, 2023, that are carried at cost.

The following table provides the fair value of trading debt securities and equity securities as of December 31:
($ in millions)20242023
Trading debt securities$1,185 899 
Equity securities341 613 
Realized Gain (Loss) on Investments
The following table presents the components of net securities gains and losses recognized in the Consolidated Statements of Income, including those recognized related to the Bancorp’s non-qualifying hedging strategy for MSRs, for the years ended December 31:
($ in millions)202420232022
Available-for-sale debt and other securities:
Realized gains$5 34 16 
Realized losses(2)(30)(13)
Impairment losses(21)(5)(1)
Net (losses) gains on available-for-sale debt and other securities$(18)(1)2 
Trading debt securities:
Net realized losses— — (2)
Net unrealized gains— 3 11 
Net trading debt securities gains$— 3 9 
Equity securities:
Net realized gains 15 5 1 
Net unrealized gains (losses)18 11 (96)
Net equity securities gains (losses)$33 16 (95)
Total gains (losses) recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities(a)
$15 18 (84)
(a)Excludes $5 and $13 of net securities gains for the years ended December 31, 2024 and 2023, respectively, and an immaterial amount of net securities losses for the year ended December 31, 2022 related to securities held by FTS to facilitate the timely execution of customer transactions. These gains and losses are included in capital markets fees and wealth and asset management revenue in the Consolidated Statements of Income.
Contractual Maturity Schedule
The expected maturity distribution of the Bancorp’s mortgage-backed securities and the contractual maturity distribution of the remainder of the Bancorp’s available-for-sale debt and other securities and held-to-maturity securities as of December 31, 2024 are shown in the following table:
Available-for-Sale Debt and OtherHeld-to-Maturity
($ in millions)Amortized CostFair Value   Amortized CostFair Value    
Debt securities:(a)
Due in 1 year or less$3,682 3,666 37 38 
Due after 1 year through 5 years16,586 15,643 3,231 3,191 
Due after 5 years through 10 years16,262 13,830 7,549 7,286 
Due after 10 years6,570 5,630 461 450 
Other securities778 778 — — 
Total$43,878 39,547 11,278 10,965 
(a)Actual maturities may differ from contractual maturities when a right to call or prepay obligations exists with or without call or prepayment penalties.
Fair Value and Gross Unrealized Loss of Securities Available for Sale
The following table provides the fair value and gross unrealized losses on available-for-sale debt and other securities in an unrealized loss position, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position as of December 31:
Less than 12 months12 months or moreTotal
($ in millions)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
2024
U.S. Treasury and federal agencies securities$569 — — — 569 — 
Agency residential mortgage-backed securities1,061 (14)4,566 (765)5,627 (779)
Agency commercial mortgage-backed securities157 (6)20,536 (3,016)20,693 (3,022)
Non-agency commercial mortgage-backed securities183 (3)3,984 (335)4,167 (338)
Asset-backed securities and other debt securities283 (11)3,157 (187)3,440 (198)
Total$2,253 (34)32,243 (4,303)34,496 (4,337)
2023
U.S. Treasury and federal agencies securities$1,989 (3)2,157 (139)4,146 (142)
Agency residential mortgage-backed securities81 (2)10,200 (1,280)10,281 (1,282)
Agency commercial mortgage-backed securities5,439 (556)19,957 (2,674)25,396 (3,230)
Non-agency commercial mortgage-backed securities141 (2)4,284 (425)4,425 (427)
Asset-backed securities and other debt securities340 (17)4,184 (281)4,524 (298)
Total$7,990 (580)40,782 (4,799)48,772 (5,379)
v3.25.0.1
Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Loans and Leases Classified by Primary Purpose
The following table provides a summary of commercial loans and leases classified by primary purpose and consumer loans classified based upon product or collateral as of December 31:
($ in millions)20242023
Loans and leases held for sale:
Commercial and industrial loans$15 41 
Commercial mortgage loans22 — 
Commercial construction loans29 — 
Commercial leases— 3 
Residential mortgage loans574 334 
Total loans and leases held for sale$640 378 
Portfolio loans and leases:
Commercial and industrial loans$52,271 53,270 
Commercial mortgage loans12,246 11,276 
Commercial construction loans5,588 5,621 
Commercial leases3,188 2,579 
Total commercial loans and leases$73,293 72,746 
Residential mortgage loans$17,543 17,026 
Home equity4,188 3,916 
Indirect secured consumer loans16,313 14,965 
Credit card1,734 1,865 
Solar energy installation loans4,202 3,728 
Other consumer loans2,518 2,988 
Total consumer loans$46,498 44,488 
Total portfolio loans and leases$119,791 117,234 
Total Loans and Leases Owned by the Bancorp
The following table presents a summary of the total loans and leases owned by the Bancorp and net charge-offs (recoveries) as of and for the years ended December 31:
Carrying Value
90 Days Past Due and Still Accruing(a)
Net Charge-Offs (Recoveries)
($ in millions)202420232024202320242023
Commercial and industrial loans$52,286 53,311 5 8 242 155 
Commercial mortgage loans12,268 11,276 — — — (2)
Commercial construction loans5,617 5,621 — — — 1 
Commercial leases3,188 2,582 1 — 2 (1)
Residential mortgage loans18,117 17,360 6 7 (2)— 
Home equity4,188 3,916 — — (1)1 
Indirect secured consumer loans16,313 14,965 — — 90 72 
Credit card1,734 1,865 20 21 68 64 
Solar energy installation loans4,202 3,728 — — 56 26 
Other consumer loans2,518 2,988 — — 77 72 
Total loans and leases$120,431 117,612 32 36 532 388 
Less: Loans and leases held for sale640 378 
Total portfolio loans and leases$119,791 117,234 
(a)Excludes government guaranteed residential mortgage loans.
Investment in Lease Financing
The following table presents the components of the net investment in portfolio leases as of December 31:
($ in millions)(a)
20242023
Net investment in direct financing leases:
Lease payment receivable (present value)$631 556 
Unguaranteed residual assets (present value)121 105 
Net investment in sales-type leases:
Lease payment receivable (present value)2,102 1,585 
Unguaranteed residual assets (present value)86 84 
(a)Excludes $248 and $249 of leveraged leases at December 31, 2024 and 2023, respectively.
Sales-Type and Direct Financing Leases, Payment to be Received, Maturity
The following table presents undiscounted cash flows for both direct financing and sales-type portfolio leases for 2025 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease receivables as follows:
As of December 31, 2024 ($ in millions)Direct Financing
Leases		Sales-Type Leases
2025$197 653 
2026169 508 
2027137 438 
202876 313 
202953 172 
Thereafter69 229 
Total undiscounted cash flows$701 2,313 
Less: Difference between undiscounted cash flows and discounted cash flows70 211 
Present value of lease payments (recognized as lease receivables)$631 2,102 
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Summary of Transactions in the ALLL
The following tables summarize transactions in the ALLL by portfolio segment for the years ended December 31:
2024 ($ in millions)CommercialResidential MortgageConsumerTotal    
Balance, beginning of period$1,130 145 1,047 2,322 
Losses charged-off(a)
(267)(2)(417)(686)
Recoveries of losses previously charged-off(a)
23 4 127 154 
Provision for (benefit from) loan and lease losses268 (1)295 562 
Balance, end of period$1,154 146 1,052 2,352 
(a)The Bancorp recorded $28 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

2023 ($ in millions)CommercialResidential MortgageConsumerTotal    
Balance, beginning of period$1,127 245 822 2,194 
Impact of adoption of ASU 2022-024 (36)(17)(49)
Losses charged-off(a)
(170)(4)(348)(522)
Recoveries of losses previously charged-off(a)
17 4 113 134 
Provision for (benefit from) loan and lease losses152 (64)477 565 
Balance, end of period$1,130 145 1,047 2,322 
(a)The Bancorp recorded $35 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.

2022 ($ in millions)CommercialResidential MortgageConsumerTotal    
Balance, beginning of period$1,102 235 555 1,892 
Losses charged-off(a)
(131)(3)(228)(362)
Recoveries of losses previously charged-off(a)
30 5 100 135 
Provision for loan and lease losses126 8 395 529 
Balance, end of period$1,127 245 822 2,194 
(a)The Bancorp recorded $32 in both losses charged-off and recoveries of losses previously charged-off related to customer defaults on point-of-sale consumer loans for which the Bancorp obtained recoveries under third-party credit enhancements.
Summary of the ALLL and Related Loans and Leases Classified by Portfolio Segment
The following tables provide a summary of the ALLL and related loans and leases classified by portfolio segment:
As of December 31, 2024 ($ in millions)CommercialResidential Mortgage ConsumerTotal    
ALLL:(a)
Individually evaluated$106 — 11 117 
Collectively evaluated1,048 146 1,041 2,235 
Total ALLL$1,154 146 1,052 2,352 
Portfolio loans and leases:(b)
Individually evaluated$395 131 96 622 
Collectively evaluated72,898 17,304 28,859 119,061 
Total portfolio loans and leases$73,293 17,435 28,955 119,683 
(a)Includes $1 related to commercial leveraged leases at December 31, 2024.
(b)Excludes $108 of residential mortgage loans measured at fair value and includes $248 of commercial leveraged leases, net of unearned income, at December 31, 2024.
As of December 31, 2023 ($ in millions)CommercialResidential MortgageConsumerTotal
ALLL:(a)
Individually evaluated$90 — 6 96 
Collectively evaluated1,040 145 1,041 2,226 
Total ALLL$1,130 145 1,047 2,322 
Portfolio loans and leases:(b)
Individually evaluated$281 126 69 476 
Collectively evaluated72,465 16,784 27,393 116,642 
Total portfolio loans and leases$72,746 16,910 27,462 117,118 
(a)Includes $2 related to commercial leveraged leases at December 31, 2023.
(b)Excludes $116 of residential mortgage loans measured at fair value and includes $249 of commercial leveraged leases, net of unearned income, at December 31, 2023.
Loan and Leases Balances by Credit Quality Indicator
The following tables present the amortized cost basis of the Bancorp’s commercial portfolio segment, by class and vintage, disaggregated by credit risk rating:
As of December 31, 2024 ($ in millions) Term Loans and Leases by Origination YearRevolving
and Other Loans
20242023202220212020PriorTotal
Commercial and industrial loans:
Pass$2,966 1,346 2,445 1,321 371 437 40,185 49,071 
Special mention15 13 22 1 3 9 1,055 1,118 
Substandard67 95 182 74 32 15 1,545 2,010 
Doubtful— — 2 — — — 70 72 
Total commercial and industrial loans$3,048 1,454 2,651 1,396 406 461 42,855 52,271 
Commercial mortgage owner-occupied loans:

Pass$786 790 844 630 315 307 1,829 5,501 
Special mention8 9 23 7 — 3 31 81 
Substandard64 34 24 28 9 43 239 441 
Doubtful— — — — — — — — 
Total commercial mortgage owner-occupied loans
$858 833 891 665 324 353 2,099 6,023 
Commercial mortgage nonowner-occupied loans:

Pass$710 751 769 170 263 408 2,698 5,769 
Special mention54 — 50 5 — — 150 259 
Substandard38 27 9 — — 2 119 195 
Doubtful— — — — — — — — 
Total commercial mortgage nonowner-occupied loans
$802 778 828 175 263 410 2,967 6,223 
Commercial construction loans:

Pass$4 21 — 29 — — 4,565 4,619 
Special mention— — — — — — 756 756 
Substandard— — — — — — 213 213 
Doubtful— — — — — — — — 
Total commercial construction loans$4 21 — 29 — — 5,534 5,588 
Commercial leases:

Pass$1,532 335 281 311 137 517 — 3,113 
Special mention4 4 2 3 2 4 — 19 
Substandard— 11 12 4 3 26 — 56 
Doubtful— — — — — — — — 
Total commercial leases$1,536 350 295 318 142 547 — 3,188 
Total commercial loans and leases:
Pass$5,998 3,243 4,339 2,461 1,086 1,669 49,277 68,073 
Special mention81 26 97 16 5 16 1,992 2,233 
Substandard169 167 227 106 44 86 2,116 2,915 
Doubtful— — 2 — — — 70 72 
Total commercial loans and leases$6,248 3,436 4,665 2,583 1,135 1,771 53,455 73,293 
As of December 31, 2023 ($ in millions) Term Loans and Leases by Origination YearRevolving and Other Loans
20232022202120202019PriorTotal
Commercial and industrial loans:
Pass$2,124 3,434 1,814 580 263 321 40,889 49,425 
Special mention16 100 60 33 6 105 1,756 2,076 
Substandard105 103 28 18 39 73 1,397 1,763 
Doubtful— — — — — — 6 6 
Total commercial and industrial loans$2,245 3,637 1,902 631 308 499 44,048 53,270 
Commercial mortgage owner-occupied loans:
Pass$870 1,078 746 408 219 260 1,279 4,860 
Special mention30 23 18 — 6 — 20 97 
Substandard31 22 11 10 45 10 114 243 
Doubtful— — — — — — — — 
Total commercial mortgage owner-occupied loans
$931 1,123 775 418 270 270 1,413 5,200 
Commercial mortgage nonowner-occupied loans:
Pass$886 825 261 348 293 243 2,724 5,580 
Special mention111 166 — 2 — 2 81 362 
Substandard81 1 8 — — 2 42 134 
Doubtful— — — — — — — — 
Total commercial mortgage nonowner-occupied loans
$1,078 992 269 350 293 247 2,847 6,076 
Commercial construction loans:
Pass$171 36 45 41 70 6 4,818 5,187 
Special mention— — — — — — 199 199 
Substandard61 — 33 — — — 141 235 
Doubtful— — — — — — — — 
Total commercial construction loans$232 36 78 41 70 6 5,158 5,621 
Commercial leases:
Pass$598 386 462 202 145 664 — 2,457 
Special mention1 9 12 3 8 14 — 47 
Substandard20 14 1 5 5 30 — 75 
Doubtful— — — — — — — — 
Total commercial leases$619 409 475 210 158 708 — 2,579 
Total commercial loans and leases:
Pass$4,649 5,759 3,328 1,579 990 1,494 49,710 67,509 
Special mention158 298 90 38 20 121 2,056 2,781 
Substandard298 140 81 33 89 115 1,694 2,450 
Doubtful— — — — — — 6 6 
Total commercial loans and leases$5,105 6,197 3,499 1,650 1,099 1,730 53,466 72,746 

The following tables summarize the Bancorp’s gross charge-offs within the commercial portfolio segment, by class and vintage during the years ended December 31:
2024 ($ in millions)Term Loans and Leases by Origination YearRevolving and Other Loans
20242023202220212020PriorTotal
Commercial loans and leases:
Commercial and industrial loans$1 6 17 1 1 — 238 264 
Commercial mortgage owner-occupied loans— 1 — — — — — 1 
Commercial construction loans— — — — — — — — 
Commercial leases— — — — — 2 — 2 
Total commercial loans and leases$1 7 17 1 1 2 238 267 
2023 ($ in millions)Term Loans and Leases by Origination YearRevolving and Other Loans
20232022202120202019PriorTotal
Commercial loans and leases:
Commercial and industrial loans$25 7 12 1 — 11 112 168 
Commercial mortgage owner-occupied loans— — — — — — 1 1 
Commercial construction loans— — — — — — 1 1 
Commercial leases— — — — — — — — 
Total commercial loans and leases$25 7 12 1 — 11 114 170 
The following tables present the amortized cost basis of the Bancorp’s residential mortgage and consumer portfolio segments, by class and vintage, disaggregated by both age and performing versus nonperforming status:
As of December 31, 2024 ($ in millions) Term Loans by Origination YearRevolving
Loans		Revolving Loans Converted to Term Loans
20242023202220212020PriorTotal
Residential mortgage loans:
Performing:
Current(a)
$1,961 998 2,961 4,606 2,491 4,245 — — 17,262 
30-89 days past due1 3 4 9 4 12 — — 33 
90 days or more past due1 — 1 1 — 2 — — 5 
Nonperforming— 2 9 13 8 103 — — 135 
Total residential mortgage loans(b)
$1,963 1,003 2,975 4,629 2,503 4,362 — — 17,435 
Home equity:

Performing:

Current$168 67 34 2 4 86 3,660 72 4,093 
30-89 days past due— — — — — 1 23 1 25 
90 days or more past due— — — — — — — — — 
Nonperforming— — 1 — — 7 56 6 70 
Total home equity$168 67 35 2 4 94 3,739 79 4,188 
Indirect secured consumer loans:

Performing:









Current$6,773 2,836 3,046 2,371 753 349 — — 16,128 
30-89 days past due19 27 39 27 11 7 — — 130 
90 days or more past due— — — — — — — — — 
Nonperforming4 10 19 13 5 4 — — 55 
Total indirect secured consumer loans$6,796 2,873 3,104 2,411 769 360 — — 16,313 
Credit card:

Performing:
Current$— — — — — — 1,664 — 1,664 
30-89 days past due— — — — — — 18 — 18 
90 days or more past due— — — — — — 20 — 20 
Nonperforming— — — — — — 32 — 32 
Total credit card$— — — — — — 1,734 — 1,734 
Solar energy installation loans:
Performing:
Current$894 2,095 1,094 2 — 33 — — 4,118 
30-89 days past due2 11 7 — — — — — 20 
90 days or more past due— — — — — — — — — 
Nonperforming1 34 28 — — 1 — — 64 
Total solar energy installation loans$897 2,140 1,129 2 — 34 — — 4,202 
Other consumer loans:

Performing:

Current$201 351 507 219 171 142 860 34 2,485 
30-89 days past due1 5 10 3 1 2 1 1 24 
90 days or more past due— — — — — — — — — 
Nonperforming— 2 4 1 — 1 — 1 9 
Total other consumer loans$202 358 521 223 172 145 861 36 2,518 
Total residential mortgage and consumer loans:
Performing:
Current$9,997 6,347 7,642 7,200 3,419 4,855 6,184 106 45,750 
30-89 days past due23 46 60 39 16 22 42 2 250 
90 days or more past due1 — 1 1 — 2 20 — 25 
Nonperforming5 48 61 27 13 116 88 7 365 
Total residential mortgage and consumer loans(b)
$10,026 6,441 7,764 7,267 3,448 4,995 6,334 115 46,390 
(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2024, $90 of these loans were 30-89 days past due and $162 were 90 days or more past due. The Bancorp recognized $1 of losses during the year ended December 31, 2024 due to claim denials and curtailments associated with these insured or guaranteed loans.
(b)Excludes $108 of residential mortgage loans measured at fair value at December 31, 2024, including $1 of 30-89 days past due loans, $1 of 90 days or more past due loans and $2 of nonperforming loans.
As of December 31, 2023 ($ in millions) Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term Loans
20232022202120202019PriorTotal
Residential mortgage loans:
Performing:
Current(a)
$995 3,139 5,001 2,703 943 3,971 — — 16,752 
30-89 days past due— 3 6 5 1 14 — — 29 
90 days or more past due— 1 1 1 1 3 — — 7 
Nonperforming— 6 6 5 4 101 — — 122 
Total residential mortgage loans(b)
$995 3,149 5,014 2,714 949 4,089 — — 16,910 
Home equity:
Performing:
Current$84 41 2 6 11 92 3,549 46 3,831 
30-89 days past due— — — — — 2 25 1 28 
90 days or more past due— — — — — — — — — 
Nonperforming— — — — — 6 50 1 57 
Total home equity$84 41 2 6 11 100 3,624 48 3,916 
Indirect secured consumer loans:
Performing:
Current$4,126 4,333 3,925 1,527 597 271 — — 14,779 
30-89 days past due22 49 40 19 12 8 — — 150 
90 days or more past due— — — — — — — — — 
Nonperforming4 11 9 6 3 3 — — 36 
Total indirect secured consumer loans$4,152 4,393 3,974 1,552 612 282 — — 14,965 
Credit card:
Performing:
Current$— — — — — — 1,789 — 1,789 
30-89 days past due— — — — — — 21 — 21 
90 days or more past due— — — — — — 21 — 21 
Nonperforming— — — — — — 34 — 34 
Total credit card$— — — — — — 1,865 — 1,865 
Solar energy installation loans:
Performing:
Current$2,415 1,192 2 — — 41 — — 3,650 
30-89 days past due12 6 — — — — — — 18 
90 days or more past due— — — — — — — — — 
Nonperforming29 30 — — — 1 — — 60 
Total solar energy installation loans$2,456 1,228 2 — — 42 — — 3,728 
Other consumer loans:
Performing:
Current$511 703 328 246 101 154 859 41 2,943 
30-89 days past due5 15 4 2 2 2 2 1 33 
90 days or more past due— — — — — — — — — 
Nonperforming2 6 1 1 1 — — 1 12 
Total other consumer loans$518 724 333 249 104 156 861 43 2,988 
Total residential mortgage and consumer loans:
Performing:
Current$8,131 9,408 9,258 4,482 1,652 4,529 6,197 87 43,744 
30-89 days past due39 73 50 26 15 26 48 2 279 
90 days or more past due— 1 1 1 1 3 21 — 28 
Nonperforming35 53 16 12 8 111 84 2 321 
Total residential mortgage and consumer loans(b)
$8,205 9,535 9,325 4,521 1,676 4,669 6,350 91 44,372 
(a)Information includes advances made pursuant to servicing agreements for GNMA mortgage pools whose repayments are insured by the FHA or guaranteed by the VA. As of December 31, 2023, $79 of these loans were 30-89 days past due and $141 were 90 days or more past due. The Bancorp recognized $2 of losses during the year ended December 31, 2023 due to claim denials and curtailments associated with these insured or guaranteed loans.
(b)Excludes $116 of residential mortgage loans measured at fair value at December 31, 2023, including $1 of 30-89 days past due loans and $2 of nonperforming loans.
The following tables summarize the Bancorp’s gross charge-offs within the residential mortgage and consumer portfolio segments, by class and vintage during the years ended December 31:
2024 ($ in millions)Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term Loans
20242023202220212020PriorTotal
Residential mortgage loans$— — — — — 2 — — 2 
Consumer loans:
Home equity— — — — — 1 5 — 6 
Indirect secured consumer loans7 35 53 25 9 10 — — 139 
Credit card— — — — — — 87 — 87 
Solar energy installation loans2 16 13 — 14 18 — — 63 
Other consumer loans1 12 24 12 20 16 34 3 122 
Total residential mortgage and consumer loans$10 63 90 37 43 47 126 3 419 

2023 ($ in millions)Term Loans by Origination YearRevolving LoansRevolving Loans Converted to Term Loans
20232022202120202019PriorTotal
Residential mortgage loans$— — — — — 4 — — 4 
Consumer loans:
Home equity— — — — — 1 7 — 8 
Indirect secured consumer loans9 42 27 14 10 8 — — 110 
Credit card— — — — — — 82 — 82 
Solar energy installation loans8 16 1 — — 2 — — 27 
Other consumer loans7 37 14 12 7 8 34 2 121 
Total residential mortgage and consumer loans$24 95 42 26 17 23 123 2 352 
Summary by Age and Class of the Recorded Investment in Delinquencies Included in the Bancorp's Portfolio of Loans and Leases
The following tables summarize the Bancorp’s amortized cost basis in portfolio commercial loans and leases, by age and class:
Current Loans and Leases(a)
Past DueTotal Loans and Leases90 Days Past Due and Still Accruing
As of December 31, 2024 ($ in millions)
30-89 Days(a)
90 Days or More(a)
Total Past Due  
Commercial loans and leases:
Commercial and industrial loans$52,098 90 83 173 52,271 5 
Commercial mortgage owner-occupied loans5,980 40 3 43 6,023 — 
Commercial mortgage nonowner-occupied loans6,215 6 2 8 6,223 — 
Commercial construction loans5,587 1 — 1 5,588 — 
Commercial leases3,167 18 3 21 3,188 1 
Total portfolio commercial loans and leases$73,047 155 91 246 73,293 6 
(a)Includes accrual and nonaccrual loans and leases.

Current Loans and Leases(a)
Past DueTotal Loans and Leases90 Days Past Due and Still Accruing
As of December 31, 2023 ($ in millions)
30-89 Days(a)
90 Days or More(a)
Total Past Due  
Commercial loans and leases:
Commercial and industrial loans$53,107 61 102 163 53,270 8 
Commercial mortgage owner-occupied loans5,196 1 3 4 5,200 — 
Commercial mortgage nonowner-occupied loans6,061 14 1 15 6,076 — 
Commercial construction loans5,621 — — — 5,621 — 
Commercial leases2,562 17 — 17 2,579 — 
Total portfolio commercial loans and leases$72,547 93 106 199 72,746 8 
(a)Includes accrual and nonaccrual loans and leases.
Summary of the Amortized Cost Basis of the Bancorp's Collateral Dependent Loans
The following table presents the amortized cost basis of the Bancorp’s collateral-dependent loans and leases, by portfolio class, as of:
($ in millions)December 31,
2024		December 31,
2023
Commercial loans and leases:
Commercial and industrial loans$325 268 
Commercial mortgage owner-occupied loans63 8 
Commercial mortgage nonowner-occupied loans4 2 
Commercial construction loans1 1 
Commercial leases2 — 
Total commercial loans and leases$395 279 
Residential mortgage loans131 126 
Consumer loans:
Home equity66 54 
Indirect secured consumer loans30 15 
Total consumer loans$96 69 
Total portfolio loans and leases$622 474 
Summary of the Bancorp's Nonperforming Loans and Leases by Class
The following table presents the amortized cost basis of the Bancorp’s nonaccrual loans and leases, by class, and OREO and other repossessed property, as of:
December 31, 2024December 31, 2023
 ($ in millions)With an ALLLNo Related
ALLL		TotalWith an ALLLNo Related
ALLL		Total
Commercial loans and leases:
Commercial and industrial loans$265 109 374 273 31 304 
Commercial mortgage owner-occupied loans52 23 75 11 6 17 
Commercial mortgage nonowner-occupied loans— 4 4 — 3 3 
Commercial construction loans— 1 1 — 1 1 
Commercial leases2 — 2 — 1 1 
Total nonaccrual portfolio commercial loans and leases$319 137 456 284 42 326 
Residential mortgage loans57 80 137 26 98 124 
Consumer loans:
Home equity21 49 70 21 36 57 
Indirect secured consumer loans48 7 55 32 4 36 
Credit card32 — 32 34 — 34 
Solar energy installation loans64 — 64 60 — 60 
Other consumer loans9 — 9 12 — 12 
Total nonaccrual portfolio consumer loans$174 56 230 159 40 199 
Total nonaccrual portfolio loans and leases(a)(b)
$550 273 823 469 180 649 
OREO and other repossessed property— 30 30 — 39 39 
Total nonperforming portfolio assets(a)(b)
$550 303 853 469 219 688 
(a)Excludes $7 and $1 of nonaccrual loans held for sale as of December 31, 2024 and 2023, respectively.
(b)Includes $18 and $19 of nonaccrual government-insured commercial loans whose repayments are insured by the SBA as of December 31, 2024 and 2023, respectively.
Summary of Loans Modifications
The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the Bancorp’s commercial portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification, during the years ended:
December 31, 2024 ($ in millions)
Term ExtensionTerm Extension and Payment DelayPayment DelayOtherTotal% of Total Class
Commercial and industrial loans$155 19 57 1 232 0.44 %
Commercial mortgage owner-occupied loans46 14 1 — 61 1.01 
Commercial mortgage nonowner-occupied loans72 — — — 72 1.16 
Commercial construction loans58 — — 1 59 1.06 
Total commercial portfolio loans$331 33 58 2 424 0.60 %

December 31, 2023 ($ in millions)
Term ExtensionTerm Extension and Payment DelayPayment DelayOtherTotal% of Total Class
Commercial and industrial loans$155 31 56 3 245 0.46 %
Commercial mortgage owner-occupied loans27 — — — 27 0.52 
Commercial mortgage nonowner-occupied loans66 — — 2 68 1.12 
Commercial construction loans113 — — — 113 2.01 
Total commercial portfolio loans$361 31 56 5 453 0.62 %
The following table presents the amortized cost basis as of December 31, 2024 and 2023 of the Bancorp’s residential mortgage portfolio loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the years ended:
December 31, 2024December 31, 2023
($ in millions)Total% of Total ClassTotal% of Total Class
Payment delay$5 0.03 %$18 0.11 %
Term extension and payment delay72 0.41 91 0.53 
Term extension, interest rate reduction and payment delay12 0.07 4 0.02 
Total residential mortgage portfolio loans$89 0.51 %$113 0.66 %
The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the Bancorp’s consumer portfolio loans that were modified for borrowers experiencing financial difficulty, by portfolio class and type of modification, during the years ended:
December 31, 2024 ($ in millions)
Interest Rate ReductionPayment DelayInterest Rate Reduction and Payment DelayTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal% of Total Class
Home equity$4 — — 2 9 15 0.36 %
Credit card20 — — — — 20 1.15 
Solar energy installation loans— 1 — — — 1 0.02 
Other consumer loans— 3 — — — 3 0.12 
Total consumer portfolio loans$24 4 — 2 9 39 0.13 %

December 31, 2023 ($ in millions)
Interest Rate ReductionPayment DelayInterest Rate Reduction and Payment DelayTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal% of Total Class
Home equity$4 1 1 2 8 16 0.41 %
Credit card27 — — — — 27 1.45 
Solar energy installation loans— 1 — — — 1 0.03 
Other consumer loans— 5 — — — 5 0.17 
Total consumer portfolio loans$31 7 1 2 8 49 0.18 %
The following table presents the financial effects of the Bancorp’s significant types of portfolio loan modifications to borrowers experiencing financial difficulty, by portfolio class for the years ended December 31:
Financial Effects20242023
Commercial loans:
Commercial and industrial loansWeighted-average length of term extensions9 months11 months
Weighted-average length of payment delay15 months23 months
Commercial mortgage owner-
occupied loans
Weighted-average length of term extensions10 months15 months
Weighted-average length of payment delay15 monthsN/A
Commercial mortgage nonowner-
occupied loans
Weighted-average length of term extensions20 months16 months
Commercial construction loansWeighted-average length of term extensions12 months12 months
Residential mortgage loansWeighted-average length of term extensions10.4 years12.9 years
Approximate amount of payment delays as a percentage of the related loan balances13%17%
Consumer loans:
Home equityWeighted-average length of term extensions22.8 years24.2 years
Weighted-average interest rate reduction
From 9.2% to 7.2%
From 8.7% to 7.0%
Approximate amount of payment delays as a percentage of the related loan balances5%5%
Credit cardWeighted-average interest rate reduction
From 23.9% to 4.1%
From 23.7% to 3.9%
Financing Receivable, Modified, Past Due
The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, for the Bancorp’s portfolio loans that were modified during the years ended December 31, 2024 and 2023, respectively, for borrowers experiencing financial difficulty, by age and portfolio class:
December 31, 2024 ($ in millions)
Past Due
Current30-89 Days90 Days or MoreTotal
Commercial loans:
Commercial and industrial loans$182 22 28 232 
Commercial mortgage owner-occupied loans61 — — 61 
Commercial mortgage nonowner-occupied loans72 — — 72 
Commercial construction loans59 — — 59 
Residential mortgage loans56 15 18 89 
Consumer loans:
Home equity13 1 1 15 
Credit card(a)
15 3 2 20 
Solar energy installation loans1 — — 1 
Other consumer loans3 — — 3 
Total portfolio loans$462 41 49 552 
(a)Credit card loans continue to be reported as delinquent after modification as they are not returned to current status until the borrower demonstrates a willingness and ability to repay the loan according to its modified terms.
December 31, 2023 ($ in millions)
Past Due
Current30-89 Days90 Days or MoreTotal
Commercial loans:
Commercial and industrial loans$184 9 52 245 
Commercial mortgage owner-occupied loans26 — 1 27 
Commercial mortgage nonowner-occupied loans68 — — 68 
Commercial construction loans113 — — 113 
Residential mortgage loans86 15 12 113 
Consumer loans:
Home equity14 2 — 16 
Credit card(a)
19 5 3 27 
Solar energy installation loans1 — — 1 
Other consumer loans5 — — 5 
Total portfolio loans$516 31 68 615 
(a)Credit card loans continue to be reported as delinquent after modification as they are not returned to current status until the borrower demonstrates a willingness and ability to repay the loan according to its modified terms.
Summary of Amortized Cost Basis of Modifications to Borrowers Experiencing Financial Difficulty That Subsequently Defaulted and Were Within Twelve Months of the Modification Date The following tables present the amortized cost basis as of December 31, 2024 and 2023, respectively, of the modifications for borrowers experiencing financial difficulty that subsequently defaulted during the years ended December 31, 2024 and 2023, respectively, and were within twelve months of the modification date:
December 31, 2024
($ in millions)
Term ExtensionInterest Rate ReductionPayment DelayTerm Extension and Interest Rate ReductionTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal
Commercial loans:
Commercial and industrial loans$14 — 13 1 8 — 36 
Commercial mortgage owner-occupied loans— — — — — — — 
Residential mortgage loans— — 3 — 29 6 38 
Consumer loans:
Home equity— 1 — — 1 1 3 
Credit card— 9 — — — — 9 
Total portfolio loans$14 10 16 1 38 7 86 
December 31, 2023
($ in millions)(a)
Term ExtensionInterest Rate ReductionPayment DelayTerm Extension and Interest Rate ReductionTerm Extension and Payment DelayTerm Extension, Interest Rate Reduction and Payment DelayTotal
Commercial loans:
Commercial and industrial loans$51 — — — — — 51 
Commercial mortgage owner-occupied loans1 — — — — — 1 
Residential mortgage loans— — 2 — 11 1 14 
Consumer loans:
Home equity— 1 — — — — 1 
Credit card— 10 — — — — 10 
Total portfolio loans$52 11 2 — 11 1 77 
(a)Excludes loans modified prior to the adoption of ASU 2022-02.
v3.25.0.1
Bank Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Summary of Bank Premises and Equipment
The following table provides a summary of bank premises and equipment as of December 31:
($ in millions)Estimated Useful Life20242023
Equipment1-20 years$2,769 2,578 
Buildings(a)
1-30 years1,784 1,742 
Leasehold improvements1-30 years760 685 
Land and improvements(a)
623 618 
Construction in progress(a)
199 180 
Bank premises and equipment held for sale:(b)
Land and improvements10 15 
Buildings4 4 
Accumulated depreciation and amortization(3,674)(3,473)
Total bank premises and equipment$2,475 2,349 
(a)At December 31, 2024 and 2023, land and improvements, buildings and construction in progress included $1 and $9, respectively, associated with parcels of undeveloped land intended for future branch expansion.
(b)Included within the assets of General Corporate & Other in the Bancorp’s segment reporting.
v3.25.0.1
Operating Lease Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Future Lease Payments Receivable from Operating Leases
The following table presents future lease payments receivable from operating leases for 2025 through 2029 and thereafter:
As of December 31, 2024 ($ in millions)Undiscounted
Cash Flows
2025$73 
202647 
202725 
202811 
20296 
Thereafter9 
Total operating lease payments$171 
v3.25.0.1
Lease Obligations - Lessee (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Assets and Lease Liabilities
The following table provides a summary of lease assets and lease liabilities as of December 31:
($ in millions)Consolidated Balance Sheets Caption20242023
Assets
Operating lease ROU assetsOther assets$526 511 
Finance lease ROU assetsBank premises and equipment146 126 
Total ROU assets(a)
$672 637 
Liabilities
Operating lease liabilitiesAccrued taxes, interest and expenses$606 601 
Finance lease liabilitiesLong-term debt161 134 
Total lease liabilities$767 735 
(a)Operating and finance lease ROU assets are recorded net of accumulated amortization of $328 and $54, respectively, as of December 31, 2024, and $292 and $77, respectively, as of December 31, 2023.
Components of Lease Costs, Weighted-Average Lease Term and Discount Rate
The following table presents the components of lease costs for the years ended December 31:
($ in millions)Consolidated Statements of Income Caption202420232022
Lease costs:
  Amortization of ROU assetsNet occupancy and equipment expense$21 19 19 
Interest on lease liabilitiesInterest on long-term debt6 5 5 
Total finance lease costs$27 24 24 
Operating lease costNet occupancy expense$89 87 84 
Short-term lease costNet occupancy expense1 2 1 
Variable lease costNet occupancy expense30 29 28 
Sublease incomeNet occupancy expense(3)(2)(3)
Total operating lease costs$117 116 110 
Total lease costs$144 140 134 
The following table presents the weighted-average remaining lease term and weighted-average discount rate as of December 31:
20242023
Weighted-average remaining lease term (years):
Operating leases11.5711.07
Finance leases12.6615.21
Weighted-average discount rate:
Operating leases4.08 %3.72 
Finance leases3.80 3.02 

The following table presents information related to lease transactions for the years ended December 31:
($ in millions)202420232022
Cash paid for amounts included in the measurement of lease liabilities:(a)
Operating cash flows from operating leases$95 91 90 
Operating cash flows from finance leases6 5 5 
Financing cash flows from finance leases18 16 23 
Gains on sale-leaseback transactions— 2 4 
(a)The cash flows related to short-term and variable lease payments are not included in the amounts presented as they were not included in the measurement of lease liabilities.
Undiscounted Cash Flows for Operating Leases
The following table presents undiscounted cash flows for both operating leases and finance leases for 2025 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:
As of December 31, 2024 ($ in millions)Operating
Leases		Finance
Leases		Total
2025$92 22 114 
202686 22 108 
202778 21 99 
202870 21 91 
202960 11 71 
Thereafter397 104 501 
Total undiscounted cash flows$783 201 984 
Less: Difference between undiscounted cash flows and discounted cash flows177 40 217 
Present value of lease liabilities$606 161 767 
Undiscounted Cash Flows for Finance Leases
The following table presents undiscounted cash flows for both operating leases and finance leases for 2025 through 2029 and thereafter as well as a reconciliation of the undiscounted cash flows to the total lease liabilities:
As of December 31, 2024 ($ in millions)Operating
Leases		Finance
Leases		Total
2025$92 22 114 
202686 22 108 
202778 21 99 
202870 21 91 
202960 11 71 
Thereafter397 104 501 
Total undiscounted cash flows$783 201 984 
Less: Difference between undiscounted cash flows and discounted cash flows177 40 217 
Present value of lease liabilities$606 161 767 
v3.25.0.1
Goodwill (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the Net Carrying Amount of Goodwill by Reporting Segment
Changes in the net carrying amount of goodwill, by reporting unit, for the years ended December 31, 2024 and 2023 were as follows:
($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth and Asset
Management		General Corporate and OtherTotal
Goodwill$3,074 2,580 226 — 5,880 
Accumulated impairment losses(750)(215)— — (965)
Net carrying value as of December 31, 20222,324 2,365 226 — 4,915 
Acquisition activity— 4 — — 4 
Net carrying value as of December 31, 20232,324 2,369 226 — 4,919 
Sale of business— — (1)— (1)
Net carrying value as of December 31, 2024$2,324 2,369 225 — 4,918 
v3.25.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets
The details of the Bancorp’s intangible assets are shown in the following table:
($ in millions)Gross Carrying AmountAccumulated
Amortization		Net Carrying
Amount
As of December 31, 2024
Core deposit intangibles$206 (196)10 
Developed technology106 (50)56 
Customer relationships28 (9)19 
Other13 (8)5 
Total intangible assets$353 (263)90 
As of December 31, 2023
Core deposit intangibles$209 (184)25 
Developed technology106 (33)73 
Customer relationships30 (10)20 
Other16 (9)7 
Total intangible assets$361 (236)125 
Estimated Amortization Expense Estimated amortization expense for 2025 through 2029 is as follows:
($ in millions)Total
2025$28 
202622 
202714 
20289 
20296 
v3.25.0.1
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidation of VIEs The following table provides a summary of assets and liabilities recorded on the Consolidated Balance Sheets for these consolidated VIEs as of:
($ in millions)December 31,
2024		December 31,
2023
Assets:
Other short-term investments$51 55 
Indirect secured consumer loans967 1,535 
Solar energy installation loans33 38 
ALLL(19)(28)
Other assets5 10 
Total assets$1,037 1,610 
Liabilities:
Other liabilities$12 14 
Long-term debt889 1,409 
Total liabilities$901 1,423 
Assets and Liabilities Related to Non-consolidated VIEs and Maximum Exposure to Losses
The following tables provide a summary of assets and liabilities carried on the Consolidated Balance Sheets related to non-consolidated VIEs for which the Bancorp holds an interest, but is not the primary beneficiary of the VIE, as well as the Bancorp’s maximum exposure to losses associated with its interests in the entities as of:
December 31, 2024 ($ in millions)Total AssetsTotal LiabilitiesMaximum Exposure
CDC investments$2,179 741 2,224 
Private equity investments268 — 487 
Loans provided to VIEs4,711 — 7,529 
Lease pool entities30 — 30 
Solar loan securitizations8 — 8 
December 31, 2023 ($ in millions)Total AssetsTotal LiabilitiesMaximum Exposure
CDC investments$2,007 690 2,054 
Private equity investments230 — 400 
Loans provided to VIEs4,274 — 6,395 
Lease pool entities42 — 42 
Solar loan securitizations9 — 9 
Investments in Qualified Affordable Housing Tax Credits
The following table summarizes the impacts to the Consolidated Statements of Income related to the Bancorp’s tax credit program investments for the years ended December 31:
($ in millions)
Consolidated Statements of Income Caption(a)
202420232022
Proportional amortizationApplicable income tax expense$200 200 189 
Tax credits and other benefits(b)
Applicable income tax expense(248)(230)(219)
Changes in carrying amounts of equity method investments(c)
Other noninterest expense8 — — 
(a)The Bancorp did not recognize impairment losses resulting from the forfeiture or ineligibility of tax credits or other circumstances during the years ended December 31, 2024, 2023 and 2022.
(b)The related cash flows are classified as operating activities in the Consolidated Statements of Cash Flows primarily in net change in other assets.
(c)These amounts pertain to tax credit program investments which were accounted for under the equity method as they did not meet the qualification criteria for the proportional amortization method, effective with the adoption of ASU 2023-02.
v3.25.0.1
Sales of Receivables and Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2024
Transfers and Servicing [Abstract]  
Activity Related to Mortgage Banking Net Revenue
Information related to residential mortgage loan sales and the Bancorp’s mortgage banking activity, which is included in mortgage banking net revenue in the Consolidated Statements of Income, for the years ended December 31 is as follows:
($ in millions)202420232022
Residential mortgage loan sales(a)
$3,954 4,888 13,307 
Origination fees and gains on loan sales67 79 91 
Gross mortgage servicing fees309 319 310 
(a)Represents the unpaid principal balance at the time of the sale.
Changes in Servicing Assets
The following table presents changes in the servicing rights related to residential mortgage loans for the years ended December 31:
($ in millions)20242023
Balance, beginning of period$1,737 1,746 
Servicing rights originated49 71 
Servicing rights purchased— 25 
Servicing rights sold(5)— 
Changes in fair value:
Due to changes in inputs or assumptions(a)
74 43 
Other changes in fair value(b)
(151)(148)
Balance, end of period$1,704 1,737 
(a)Primarily reflects changes in prepayment speed and OAS assumptions which are updated based on market interest rates.
(b)Primarily reflects changes due to realized cash flows and the passage of time.
Activity Related to the MSR Portfolio
The following table presents activity related to valuations of the MSR portfolio and the impact of the non-qualifying hedging strategy for the years ended December 31:
($ in millions)202420232022
Securities (losses) gains, net - non-qualifying hedges on mortgage servicing rights$— — (2)
Changes in fair value and settlement of free-standing derivatives purchased to economically
    hedge the MSR portfolio(a)
(88)(43)(363)
MSR fair value adjustment due to changes in inputs or assumptions(a)
74 43 355 
(a)Included in mortgage banking net revenue in the Consolidated Statements of Income.
Servicing Assets and Residual Interests Economic Assumptions
The key economic assumptions used in measuring the servicing rights related to residential mortgage loans that continued to be held by the Bancorp at the date of sale, securitization or purchase resulting from transactions completed during the years ended December 31 were as follows:
20242023
Weighted-
Average Life
(in years)		Prepayment
Speed
(annual)		OAS    
(bps)    		Weighted-Average Life
(in years)		Prepayment
Speed
(annual)		OAS
(bps)
Fixed-rate6.612.7 %4886.612.4 %596
Adjustable-rate— — —3.027.9 774
Sensitivity of the Current Fair Value of Residual Cash Flows to Immediate 10%, 20% and 50% Adverse Changes in Assumptions
At December 31, 2024, the sensitivity of the current fair value of residual cash flows to immediate 10%, 20% and 50% adverse changes in prepayment speed assumptions and immediate 10% and 20% adverse changes in OAS for servicing rights related to residential mortgage loans are as follows:
($ in millions)(a)
Fair ValueWeighted-
Average Life
(in years)		Prepayment Speed AssumptionOAS Assumption
Impact of Adverse Change
on Fair Value		OAS 
(bps)		Impact of Adverse 
Change on Fair Value
Rate 10%20%50%10%20%
Fixed-rate$1,701 8.65.8 %$(37)(72)(168)459$(35)(69)
Adjustable-rate3 5.116.9 — — (1)731— — 
(a)The impact of the weighted-average default rate on the current fair value of residual cash flows for all scenarios is immaterial.
v3.25.0.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following tables reflect the notional amounts and fair values for all derivative instruments included in the Consolidated Balance Sheets as of:
Fair Value
December 31, 2024 ($ in millions)Notional
Amount		Derivative
Assets		Derivative
Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt$4,955 1 12 
Total fair value hedges1 12 
Cash flow hedges:
Interest rate swaps related to C&I loans11,000 2 4 
Interest rate swaps related to C&I loans - forward starting(a)
1,000 1 — 
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)
4,000 3 — 
Total cash flow hedges6 4 
Total derivatives designated as qualifying hedging instruments7 16 
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSR portfolio3,135 4 4 
Forward contracts related to residential mortgage loans measured at fair value(b)
881 8 — 
Swap associated with the sale of Visa, Inc. Class B Shares2,465 — 170 
Foreign exchange contracts104 2 — 
Interest-only strips30 — — 
Interest rate contracts for collateral management1,000 1 — 
Interest rate contracts for LIBOR transition597 — — 
Other43 — — 
Total free-standing derivatives - risk management and other business purposes15 174 
Free-standing derivatives - customer accommodation:
Interest rate contracts(c)
87,928 708 924 
Interest rate lock commitments264 2 — 
Commodity contracts16,889 575 564 
TBA securities44 — — 
Foreign exchange contracts38,640 1,165 1,120 
Total free-standing derivatives - customer accommodation2,450 2,608 
Total derivatives not designated as qualifying hedging instruments2,465 2,782 
Total$2,472 2,798 
(a)Forward starting swaps will become effective in January and February 2025.
(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments in addition to certain portfolio residential mortgage loans measured at fair value.
(c)Derivative assets and liabilities are presented net of variation margin of $257 and $45, respectively.
Fair Value
December 31, 2023 ($ in millions)Notional
Amount		Derivative
Assets		Derivative
Liabilities
Derivatives Designated as Qualifying Hedging Instruments:
Fair value hedges:
Interest rate swaps related to long-term debt$5,955 — 32 
Total fair value hedges— 32 
Cash flow hedges:
Interest rate floors related to C&I loans3,000 1 — 
Interest rate swaps related to C&I loans8,000 2 11 
Interest rate swaps related to C&I loans - forward starting(a)
6,000 6 1 
Interest rate swaps related to commercial mortgage and commercial construction loans - forward starting(a)
4,000 1 1 
Total cash flow hedges10 13 
Total derivatives designated as qualifying hedging instruments10 45 
Derivatives Not Designated as Qualifying Hedging Instruments:
Free-standing derivatives - risk management and other business purposes:
Interest rate contracts related to MSR portfolio3,205 81 — 
Forward contracts related to residential mortgage loans measured at fair value(b)
650 — 5 
Swap associated with the sale of Visa, Inc. Class B Shares4,178 — 168 
Foreign exchange contracts190 — 4 
Interest-only strips39 1 — 
Interest rate contracts for collateral management5,000 1 1 
Interest rate contracts for LIBOR transition597 — — 
Other30 — — 
Total free-standing derivatives - risk management and other business purposes83 178 
Free-standing derivatives - customer accommodation:
Interest rate contracts(c)(d)
95,079 885 1,162 
Interest rate lock commitments252 5 — 
Commodity contracts17,621 1,051 1,018 
TBA securities27 — — 
Foreign exchange contracts37,734 643 596 
Total free-standing derivatives - customer accommodation2,584 2,776 
Total derivatives not designated as qualifying hedging instruments2,667 2,954 
Total$2,677 2,999 
(a)Forward starting swaps will become effective on various dates between June 2024 and February 2025.
(b)Includes forward sale and forward purchase contracts which are utilized to manage market risk on residential mortgage loans held for sale and the related interest rate lock commitments in addition to certain portfolio residential mortgage loans measured at fair value.
(c)Derivative assets and liabilities are presented net of variation margin of $335 and $58, respectively.
(d)Includes replacement contracts with a notional amount of approximately $675 million which were the result of certain central clearing parties replacing existing LIBOR-based contracts with multiple separate contracts as part of the LIBOR transition.
Net Gains (Losses) Recognized in the Income Statement Related to Derivatives in Fair Value Hedging Relationships
The following table reflects the changes in fair value of interest rate contracts, designated as fair value hedges and the changes in fair value of the related hedged items attributable to the risk being hedged, as well as the line items in the Consolidated Statements of Income in which the corresponding gains or losses are recorded:
For the years ended December 31 ($ in millions)Consolidated Statements of Income Caption202420232022
Long-term debt:
Change in fair value of interest rate swaps hedging long-term debtInterest on long-term debt$(66)29 (460)
Change in fair value of hedged long-term debt attributable to the risk
being hedged
Interest on long-term debt65 (26)460 
Available-for-sale debt and other securities:
Change in fair value of interest rate swaps hedging available-for-sale
debt and other securities
Interest on securities— — 8 
Change in fair value of hedged available-for-sale debt and other
securities attributable to the risk being hedged
Interest on securities— — (8)

The following amounts were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of December 31:
($ in millions)Consolidated Balance 
Sheets Caption		20242023
Long-term debt:
Carrying amount of the hedged itemsLong-term debt$4,838 5,899 
Cumulative amount of fair value hedging adjustments included in
the carrying amount of the hedged items
Long-term debt(103)(38)
Available-for-sale debt and other securities:
Cumulative amount of fair value hedging adjustments remaining
for hedged items for which hedge accounting has been discontinued
Available-for-sale debt and other securities(9)(11)
Net Gains (Losses) Relating to Derivative Instruments Designated as Cash Flow Hedges
The following table presents the pre-tax net (losses) gains recorded in the Consolidated Statements of Income and in the Consolidated Statements of Comprehensive Income relating to derivative instruments designated as cash flow hedges:
For the years ended December 31 ($ in millions)202420232022
Amount of pre-tax net losses recognized in OCI$(724)(171)(1,006)
Amount of pre-tax net (losses) gains reclassified from OCI into net income(351)(334)99 
Schedule of Price Risk Derivatives
The net (losses) gains recorded in the Consolidated Statements of Income relating to free-standing derivative instruments used for risk management and other business purposes are summarized in the following table:
For the years ended December 31 ($ in millions)Consolidated Statements of Income Caption202420232022
Interest rate contracts:
Interest rate contracts related to MSR portfolioMortgage banking net revenue$(88)(43)(363)
Forward contracts related to residential mortgage loans measured at fair valueMortgage banking net revenue13 (7)3 
Interest-only stripsOther noninterest income(1)(3)— 
Foreign exchange contracts:
Foreign exchange contracts for risk management purposesOther noninterest income14 (3)12 
Equity contracts:
Swap associated with sale of Visa, Inc. Class B SharesOther noninterest income(138)(94)(84)
Risk Ratings of the Notional Amount of Risk Participation Agreements
Risk ratings of the notional amount of risk participation agreements under this risk rating system are summarized in the following table as of December 31:
($ in millions)20242023
Pass$3,138 3,168 
Special mention9 323 
Substandard100 72 
Total$3,247 3,563 
Net Gains (Losses) Recognized in the Income Statement Related to Free-Standing Derivative Instruments Used For Customer Accommodation
The net gains (losses) recorded in the Consolidated Statements of Income relating to free-standing derivative instruments used for customer accommodation are summarized in the following table:
For the years ended December 31 ($ in millions)Consolidated Statements of Income Caption202420232022
Interest rate contracts:
Interest rate contracts for customers (contract revenue)Capital markets fees$29 35 48 
Interest rate contracts for customers (credit portion of fair value adjustment)Other noninterest expense4 (2)10 
Interest rate lock commitmentsMortgage banking net revenue41 52 16 
Commodity contracts:
Commodity contracts for customers (contract revenue)Capital markets fees18 36 44 
Commodity contracts for customers (credit portion of fair value adjustment)Other noninterest expense1 — — 
Foreign exchange contracts:
Foreign exchange contracts for customers (contract revenue)Capital markets fees74 89 70 
Foreign exchange contracts for customers (contract revenue)Other noninterest income6 (14)8 
Foreign exchange contracts for customers (credit portion of fair value adjustment)Other noninterest expense— 4 (3)
Offsetting Derivative Financial Instruments
The following table provides a summary of offsetting derivative financial instruments:
Gross Amount Recognized in the Consolidated Balance Sheets(a)
Gross Amounts Not Offset in the
Consolidated Balance Sheets
Derivatives
Collateral(b)
Net Amount
As of December 31, 2024
Derivative assets$2,470 (1,378)(573)519 
Derivative liabilities2,798 (1,378)(193)1,227 
As of December 31, 2023
Derivative assets$2,672 (1,031)(877)764 
Derivative liabilities2,999 (1,031)(159)1,809 
(a)Amount does not include IRLCs because these instruments are not subject to master netting or similar arrangements.
(b)Amount of collateral received as an offset to asset positions or pledged as an offset to liability positions. Collateral values in excess of related derivative amounts recognized in the Consolidated Balance Sheets were excluded from this table.
v3.25.0.1
Other Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
Other Assets Disclosure
The following table provides the components of other assets included in the Consolidated Balance Sheets as of December 31:
($ in millions)20242023
Partnership investments$2,520 2,326 
Derivative instruments2,472 2,677 
Accounts receivable and drafts-in-process2,381 2,007 
Bank owned life insurance2,135 2,103 
Deferred tax assets1,429 1,438 
Accrued interest and fees receivable796 797 
Operating lease right-of-use assets526 511 
Income tax receivable174 187 
Prepaid expenses142 143 
OREO and other repossessed property32 39 
Worldpay, Inc. TRA receivable— 35 
Other250 275 
Total other assets$12,857 12,538 
v3.25.0.1
Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2024
Short-Term Debt [Abstract]  
Summary of Short-Term Borrowings and Weighted-Average Rates
The following table summarizes short-term borrowings and weighted-average rates:
20242023
($ in millions)AmountRate      AmountRate        
As of December 31:
Federal funds purchased$204 4.30 %$193 5.31 %
Other short-term borrowings4,450 4.39 2,861 5.21 
Average for the years ended December 31:
Federal funds purchased$207 5.21 %$307 4.96 %
Other short-term borrowings3,024 5.18 5,044 4.90 
Maximum month-end balance for the years ended December 31:
Federal funds purchased$247 $1,143 
Other short-term borrowings5,070 7,423 
Summary of Other Short-Term Borrowings
The following table presents a summary of the Bancorp’s other short-term borrowings as of December 31:
($ in millions)20242023
FHLB advances$4,100 2,500 
Securities sold under repurchase agreements273 330 
Derivative collateral19 3 
Other borrowed money58 28 
Total other short-term borrowings$4,450 2,861 
v3.25.0.1
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Summary of the Bancorp's Long-Term Borrowings
The following table is a summary of the Bancorp’s long-term borrowings at December 31:
($ in millions)MaturityInterest Rate20242023
Parent Company
Senior:
Fixed-rate notes20243.65%$— 1,500 
Fixed-rate notes20252.375%750 749 
Fixed-rate notes20272.55%748 748 
Fixed-rate/floating-rate notes(c)
20271.707%472 461 
Fixed-rate notes20283.95%648 648 
Fixed-rate/floating-rate notes(c)
20284.055%387 386 
Fixed-rate/floating-rate notes(c)
20286.361%999 1,013 
Fixed-rate/floating-rate notes(c)
20296.339%1,246 1,245 
Fixed-rate/floating-rate notes(c)
20304.772%933 944 
Fixed-rate/floating-rate notes(c)
20304.895%747 — 
Fixed-rate/floating-rate notes(c)
20325.631%996 — 
Fixed-rate/floating-rate notes(c)
20334.337%544 561 
Subordinated:(a)
Fixed-rate notes20244.30%— 750 
Fixed-rate notes20388.25%1,051 1,103 
Subsidiaries
Senior:
Fixed-rate notes20253.95%747 727 
Fixed-rate/floating-rate notes(e)
20255.852%— 996 
Fixed-rate notes20272.25%599 599 
Subordinated:(a)
Fixed-rate notes20263.85%750 749 
Junior subordinated:
 Floating-rate debentures(a)(b)
20356.04%-6.31%54 54 
FHLB advances(d)
2025-20474.91%1,508 1,510 
Notes associated with consolidated VIEs:
Automobile loan securitization2026-20315.13%-5.80%816 1,305 
Solar loan securitization, fixed-rate notes20384.05%-7.00%30 35 
Other2025-2052Varies312 297 
Total$14,337 16,380 
(a)In aggregate, $1.3 billion and $1.5 billion qualifies as Tier 2 capital for regulatory capital purposes for the years ended December 31, 2024 and 2023, respectively.
(b)These rates reflect the floating rates as of December 31, 2024.
(c)This rate reflects the fixed rate in effect as of December 31, 2024.
(d)This rate reflects the weighted-average rate as of December 31, 2024.
(e)This rate reflects the fixed rate in effect as of December 31, 2023.
Schedule of Long-term Debt Maturities The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2024 are presented in the following table:
($ in millions)Parent CompanySubsidiariesTotal
2025$750 756 1,506 
2026— 2,429 2,429 
20271,220 613 1,833 
20282,034 587 2,621 
20291,246 82 1,328 
Thereafter4,271 349 4,620 
Total$9,521 4,816 14,337 
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of Significant Commitments The following table reflects a summary of significant commitments as of December 31:
($ in millions)20242023
Commitments to extend credit$80,680 81,570 
Letters of credit1,952 2,095 
Forward contracts related to residential mortgage loans measured at fair value881 650 
Capital commitments for private equity investments219 170 
Capital expenditures80 95 
Purchase obligations27 69 
Credit Risk Associated with Commitments
Risk ratings of outstanding commitments to extend credit under this risk rating system are summarized in the following table as of December 31:
($ in millions)20242023
Pass$78,734 79,593 
Special mention850 1,301 
Substandard1,095 676 
Doubtful1 — 
Total commitments to extend credit$80,680 81,570 
Standby and Commercial Letters of Credit, Conditional Commitments Issued to Guarantee the Performance of a Customer to a Third Party
Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party and expire as summarized in the following table as of December 31, 2024:
($ in millions)
Less than 1 year(a)
$980 
1 - 5 years(a)
967 
Over 5 years5 
Total letters of credit$1,952 
(a)Includes $2 and $3 issued on behalf of commercial customers to facilitate trade payments in U.S. dollars and foreign currencies which expire in less than 1 year and between 1 - 5 years, respectively.
Credit Risk Associated with Letters of Credit
Risk ratings of outstanding letters of credit under this risk rating system are summarized in the following table as of December 31:
($ in millions)20242023
Pass$1,779 1,902 
Special mention60 81 
Substandard110 112 
Doubtful3 — 
Total letters of credit$1,952 2,095 
Visa Funding and Bancorp Cash Payments
After the Bancorp’s sale of the Class B Shares, Visa has funded additional amounts into the litigation escrow account which have resulted in further dilutive adjustments to the conversion of Class B Shares into Class A Shares, and along with other terms of the total return swap, required the Bancorp to make cash payments in varying amounts to the swap counterparty as follows:
Period ($ in millions)Visa Funding AmountBancorp Cash Payment Amount
Q2 2010$500 20 
Q4 2010800 35 
Q2 2011400 19 
Q1 20121,565 75 
Q3 2012150 6 
Q3 2014450 18 
Q2 2018600 26 
Q3 2019300 12 
Q4 2021250 11 
Q2 2022600 25 
Q4 2022350 15 
Q2 2023500 21 
Q3 2023150 6 
Q3 20241,500 65 
v3.25.0.1
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Summary of the Bancorp's Activities with its Principal Shareholders, Directors and Executives
The following table summarizes the Bancorp’s lending activities with its principal shareholders, directors, executives and their related interests at December 31:
($ in millions)20242023
Commitments to lend, net of participations:
Directors and their affiliated companies$162 165 
Executive officers3 3 
Total$165 168 
Outstanding balance on loans, net of participations and undrawn commitments$56 111 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Applicable Income Taxes Included in the Consolidated Statements Of Income The following is a summary of applicable income taxes included in the Consolidated Statements of Income for the years ended December 31:
($ in millions)202420232022
Current income tax expense:
U.S. Federal income taxes$452 647 570 
State and local income taxes75 96 126 
Foreign income taxes3 2 11 
Total current income tax expense530 745 707 
Deferred income tax expense (benefit):
U.S. Federal income taxes84 (81)(31)
State and local income taxes(13)(23)(29)
Foreign income taxes1 (2)— 
Total deferred income tax expense (benefit)72 (106)(60)
Applicable income tax expense $602 639 647 
Reconciliation Between the Statutory U.S. Income Tax Rate and the Bancorp's Effective Tax Rate
The following is a reconciliation between the statutory U.S. Federal income tax rate and the Bancorp’s effective tax rate for the years ended December 31:
202420232022
Statutory tax rate21.0 %21.0 21.0 
Increase (decrease) resulting from:
State taxes, net of federal benefit1.7 1.9 2.5 
Tax-exempt income(0.9)(0.8)(0.8)
Tax credits and other tax benefits from CDC investments(8.5)(7.7)(7.1)
Proportional amortization of qualifying CDC investments6.8 6.7 6.1 
Other tax credits(0.1)(0.7)(0.4)
Other, net0.6 1.0 (0.3)
Effective tax rate20.6 %21.4 21.0 
Reconciliation of the Beginning and Ending Amounts of the Bancorp's Unrecognized Tax Benefits
The following table provides a reconciliation of the beginning and ending amounts of the Bancorp’s unrecognized tax benefits:
($ in millions)202420232022
Unrecognized tax benefits at January 1$97 94 102 
Gross increases for tax positions taken during prior period12 14 3 
Gross decreases for tax positions taken during prior period(7)(5)(5)
Gross increases for tax positions taken during current period21 15 11 
Settlements with taxing authorities(1)(1)— 
Lapse of applicable statute of limitations(21)(20)(17)
Unrecognized tax benefits at December 31(a)
$101 97 94 
(a)All amounts represent unrecognized tax benefits that, if recognized, would affect the annual effective tax rate.
Deferred Income Taxes Included in Other Assets in the Consolidated Balance Sheets
Deferred income taxes are comprised of the following items at December 31:
($ in millions)20242023
Deferred tax assets:
Other comprehensive income$1,459 1,395 
Allowance for loan and lease losses494 488 
Loan origination fees and costs199 195 
Deferred compensation115 114 
Reserves38 33 
State deferred taxes35 43 
Reserves for unfunded commitments28 35 
Federal net operating loss carryforwards7 19 
State net operating loss carryforwards6 11 
Other138 135 
Total deferred tax assets$2,519 2,468 
Deferred tax liabilities:
Lease financing$583 551 
MSRs and related economic hedges153 141 
Bank premises and equipment76 68 
Goodwill and intangible assets
64 70 
Investments in joint ventures and partnership interests48 58 
Other168 143 
Total deferred tax liabilities$1,092 1,031 
Total net deferred tax asset$1,427 1,437 
v3.25.0.1
Retirement and Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Defined Benefit Retirement Plans with an Underfunded Status
The following table summarizes the defined benefit retirement plans as of and for the years ended December 31:
($ in millions)
20242023
Fair value of plan assets at January 1$102 109 
Actual return on assets(3)5 
Contributions1 2 
Settlement(7)(7)
Benefits paid(6)(7)
Fair value of plan assets at December 31$87 102 
Projected benefit obligation at January 1$113 120 
Interest cost5 6 
Settlement(7)(7)
Actuarial (gain) loss(5)1 
Benefits paid(6)(7)
Projected benefit obligation at December 31$100 113 
Underfunded projected benefit obligation at December 31$(13)(11)
Accumulated benefit obligation at December 31(a)
$100 113 
(a)Since the Plan’s benefits are frozen, the rate of compensation increase is no longer an assumption used to calculate the accumulated benefit obligation. Therefore, the accumulated benefit obligation was the same as the projected benefit obligation at both December 31, 2024 and 2023.
Net Periodic Benefit Cost and Other Changes In Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
The following table summarizes net periodic benefit cost and other changes in the Plan’s assets and benefit obligations recognized in OCI for the years ended December 31:
($ in millions)202420232022
Components of net periodic benefit cost:
Interest cost$5 6 5 
Expected return on assets(5)(5)(4)
Amortization of net actuarial loss2 2 3 
Settlement2 2 3 
Net periodic benefit cost$4 5 7 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial loss (gain)$2 1 (11)
Amortization of net actuarial loss(2)(2)(3)
Settlement(1)(2)(3)
Total recognized in other comprehensive income(1)(3)(17)
Total recognized in net periodic benefit cost and other comprehensive income$3 2 (10)
Plan Assets Measured at Fair Value on a Recurring Basis
The following tables summarize Plan assets measured at fair value on a recurring basis as of December 31:
Fair Value Measurements Using(a)
2024 ($ in millions)Level 1Level 2Level 3    Total Fair Value
Cash equivalents$3 — — 3 
Debt securities:
U.S. Treasury and federal agencies securities48 3 — 51 
Asset-backed securities and other debt securities(b)
— 33 — 33 
Total debt securities$48 36 — 84 
Total Plan assets$51 36 — 87 
(a)For further information on fair value hierarchy levels, refer to Note 1.
(b)Includes corporate bonds.
Fair Value Measurements Using(a)
2023 ($ in millions)Level 1Level 2Level 3 Total Fair Value
Cash equivalents$7 — — 7 
Debt securities:
U.S. Treasury and federal agencies securities52 3 — 55 
Asset-backed securities and other debt securities(b)
— 40 — 40 
Total debt securities$52 43 — 95 
Total Plan assets$59 43 — 102 
(a)For further information on fair value hierarchy levels, refer to Note 1.
(b)Includes corporate bonds.
Plan Assumptions
The following table summarizes the weighted-average plan assumptions for the years ended December 31:
202420232022
For measuring benefit obligations at year end:
Discount rate5.58 %5.04 5.37 
For measuring net periodic benefit cost:
Discount rate5.08 5.50 3.69 
Expected return on plan assets5.09 5.52 3.91 
Weighted Average Allocation of Plan Assets
The following table provides the Bancorp’s targeted and actual weighted-average asset allocations by asset category, with mutual and exchange-traded funds incorporated according to their underlying investments, for the years ended December 31:
Targeted Range(a)  
20242023
Fixed-income securities
50-100 %  
95 90 
Cash or cash equivalents
0-100    
5 10 
Total100 %100 
(a)These reflect the targeted ranges for the year ended December 31, 2024.
v3.25.0.1
Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Activity of the Components of Other Comprehensive Income and Accumulated Other Comprehensive Income
The tables below present the activity of the components of OCI and AOCI for the years ended December 31:
Total OCITotal AOCI
2024 ($ in millions)Pre-tax
Activity		Tax
Effect		Net
Activity		Beginning
Balance		Net
Activity		Ending
Balance
Unrealized holding gains on available-for-sale debt securities
   arising during the year		$27 (12)15 
Unrealized losses on available-for-sale debt securities transferred to
   held-to-maturity securities		994 (209)785 
Reclassification adjustment for net losses on available-for-sale debt
   securities included in net income		18 (4)14 
Net unrealized losses on available-for-sale debt securities1,039 (225)814 (4,094)814 (3,280)
Unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities(994)209 (785)
Amortization of unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities included in net income129 (28)101 
Net unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities(865)181 (684)— (684)(684)
Unrealized holding losses on cash flow hedge derivatives arising
   during the year		(724)172 (552)
Reclassification adjustment for net losses on cash flow hedge
   derivatives included in net income		351 (81)270 
Net unrealized losses on cash flow hedge derivatives(373)91 (282)(372)(282)(654)
Net actuarial loss arising during the year(2)— (2)
Reclassification of amounts to net periodic benefit costs3 — 3 
Defined benefit pension plans, net1 — 1 (17)1 (16)
Other2 — 2 (4)2 (2)
Total$(196)47 (149)(4,487)(149)(4,636)

Total OCITotal AOCI
2023 ($ in millions)Pre-tax
Activity		Tax
Effect		Net
Activity		Beginning
Balance		Net
Activity		Ending
Balance
Unrealized holding gains on available-for-sale debt securities
    arising during the year		$656 (162)494 
Reclassification adjustment for net losses on available-for-sale debt
    securities included in net income		1 — 1 
Net unrealized losses on available-for-sale debt securities657 (162)495 (4,589)495 (4,094)
Unrealized holding losses on cash flow hedge derivatives arising
    during the year		(171)40 (131)
Reclassification adjustment for net losses on cash flow hedge
    derivatives included in net income		334 (77)257 
Net unrealized losses on cash flow hedge derivatives163 (37)126 (498)126 (372)
Net actuarial loss arising during the year(1)— (1)
Reclassification of amounts to net periodic benefit costs4 (1)3 
Defined benefit pension plans, net3 (1)2 (19)2 (17)
Other— — — (4)— (4)
Total$823 (200)623 (5,110)623 (4,487)
Total OCITotal AOCI
2022 ($ in millions)Pre-tax
Activity		Tax
Effect		Net
Activity		Beginning
Balance		Net
Activity		Ending
Balance
Unrealized holding losses on available-for-sale debt securities
    arising during the year
 		$(7,194)1,716 (5,478)
Reclassification adjustment for net gains on available-for-sale debt
    securities included in net income		(2)— (2)
Net unrealized losses on available-for-sale debt securities(7,196)1,716 (5,480)891 (5,480)(4,589)
Unrealized holding losses on cash flow hedge derivatives arising
    during the year
 		(1,006)232 (774)
Reclassification adjustment for net gains on cash flow hedge
    derivatives included in net income		(99)22 (77)
Net unrealized losses on cash flow hedge derivatives(1,105)254 (851)353 (851)(498)
Net actuarial gain arising during the year
 		11 (2)9 
Reclassification of amounts to net periodic benefit costs6 (1)5 
Defined benefit pension plans, net17 (3)14 (33)14 (19)
Other— — — (4)— (4)
Total$(8,284)1,967 (6,317)1,207 (6,317)(5,110)
Reclassification Out of Accumulated Other Comprehensive Income to Net Income
The table below presents reclassifications out of AOCI for the years ended December 31:
($ in millions)Consolidated Statements of
Income Caption		202420232022
Net unrealized losses on available-for-sale debt securities:(a)
Net (losses) gains included in net incomeSecurities gains (losses), net$(18)(1)2 
Income before income taxes(18)(1)2 
Applicable income tax expense4 — — 
Net income(14)(1)2 
Net unrealized losses on available-for-sale debt securities
transferred to held-to-maturity securities:(a)
Net losses included in net incomeInterest on securities(129)— — 
Income before income taxes(129)— — 
Applicable income tax expense28 — — 
Net income(101)— — 
Net unrealized losses on cash flow hedge derivatives:(a)
Interest rate contracts related to C&I, commercial mortgage and commercial construction loansInterest and fees on loans and leases(351)(334)99 
Income before income taxes(351)(334)99 
Applicable income tax expense81 77 (22)
Net income(270)(257)77 
Net periodic benefit costs:(a)
Amortization of net actuarial loss
Compensation and benefits(b)
(2)(2)(3)
Settlements
Compensation and benefits(b)
(1)(2)(3)
Income before income taxes(3)(4)(6)
Applicable income tax expense— 1 1 
Net income(3)(3)(5)
Other:(a)
Net losses included in net income
Other noninterest expense
(2)— — 
Income before income taxes
(2)— — 
Applicable income tax expense
— — — 
Net income
(2)— — 
Total reclassifications for the periodNet income$(390)(261)74 
(a)Amounts in parentheses indicate reductions to net income.
(b)This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 22 for information on the computation of net periodic benefit cost.
v3.25.0.1
Common, Preferred and Treasury Stock (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Share Activity Within Common, Preferred and Treasury Stock
The table presents a summary of the share activity within common, preferred and treasury stock for the years ended:
Common StockPreferred StockTreasury Stock
($ in millions, except share data)ValueSharesValueSharesValueShares
December 31, 2021$2,051 923,892,581 $2,116 278,000$(7,024)241,114,917 
Shares acquired for treasury— — — — (100)3,079,462 
Impact of stock transactions under stock
   compensation plans, net		— — — — 21 (3,687,834)
Other— — — — — 156 
December 31, 2022$2,051 923,892,581 $2,116 278,000$(7,103)240,506,701 
Shares acquired for treasury— — — — (201)5,589,996 
Impact of stock transactions under stock
   compensation plans, net		— — — — 42 (3,328,926)
December 31, 2023$2,051 923,892,581 $2,116 278,000$(7,262)242,767,771 
Shares acquired for treasury— — — —(630)15,043,170 
Impact of stock transactions under stock
   compensation plans, net		— — — — 52 (3,772,190)
December 31, 2024$2,051 923,892,581 $2,116 278,000$(7,840)254,038,751 
Summary of the Bancorp's Accelerated Share Repurchase Transactions
The following table presents a summary of the Bancorp’s accelerated share repurchase transactions that were entered into and settled during the years ended December 31, 2024 and 2023:
Repurchase DateAmount  ($ in millions)Shares Repurchased on Repurchase DateShares Received from Forward Contract  SettlementTotal Shares RepurchasedFinal Settlement Date
January 24, 2023200 4,911,875 678,121 5,589,996 March 6, 2023
June 12, 2024125 3,011,621 496,767 3,508,388 June 27, 2024
July 23, 2024200 4,160,548 713,340 4,873,888 August 5, 2024
October 22, 2024300 5,879,640 781,254 6,660,894 December 18, 2024
v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Appreciation Rights, Valuation Assumptions
The weighted-average assumptions were as follows for the years ended December 31:
202420232022
Expected life (in years)777
Expected volatility33 %31 31 
Expected dividend yield4.2 3.6 3.4 
Risk-free interest rate4.1 3.8 2.7 
Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity
The following table summarizes SARs activity for the years ended December 31:
202420232022
SARs (in thousands, except per share data)Number of
SARs		Weighted-
Average Grant
Price Per Share		Number of
SARs		Weighted-
Average Grant
Price Per Share		Number of
SARs		Weighted-
Average Grant
Price Per Share 
Outstanding at January 17,331 $23.72 9,112 $22.22 11,185 $20.47 
Granted316 33.51 253 37.19 304 46.96 
Exercised(3,010)20.01 (2,011)18.42 (2,358)17.05 
Forfeited or expired(1)19.01 (23)40.36 (19)30.43 
Outstanding at December 314,636 $26.80 7,331 $23.72 9,112 $22.22 
Exercisable at December 314,063 $25.39 6,796 $22.44 8,487 $20.97 
Outstanding and Exercisable SARs by Grant Price
The following table summarizes outstanding and exercisable SARs by grant price per share at December 31, 2024:
Outstanding SARsExercisable SARs
SARs (in thousands, except per share data)Number of
SARs		Weighted-Average Grant Price Per ShareWeighted-
Average Remaining
Contractual Life
(in years)		Number of
SARs		Weighted-Average Grant Price Per ShareWeighted-
Average Remaining
Contractual Life
(in years)
$10.01-$20.00
1,673 $18.28 0.91,673 $18.28 0.9
$20.01-$30.00
1,615 27.10 3.01,615 27.10 3.0
$30.01-$40.00
1,105 34.27 7.0612 33.90 5.5
Over $40.00
243 49.51 7.1163 49.51 7.1
All SARs4,636 $26.80 3.44,063 $25.39 2.7
Schedule of Share-Based Compensation, RSUs
The following table summarizes RSUs activity for the years ended December 31:
202420232022
RSUs (in thousands, except per unit data)Units Weighted-Average Grant-Date Fair Value Per UnitUnits Weighted-Average Grant-Date Fair Value Per UnitUnits Weighted-Average Grant-Date Fair Value Per Unit
Outstanding at January 110,365 $37.63 9,906 $38.04 9,487 $30.67 
Granted4,546 33.87 4,763 34.94 4,682 47.11 
Released(3,751)37.54 (3,696)35.04 (3,608)30.54 
Forfeited(396)36.37 (608)38.75 (655)37.12 
Outstanding at December 3110,764 $36.12 10,365 $37.63 9,906 $38.04 
Unvested RSUs by Grant-Date Fair Value
The following table summarizes outstanding RSUs by grant-date fair value per unit at December 31, 2024:
Outstanding RSUs
RSUs (in thousands)Units       Weighted-Average Remaining Contractual Life (in years)
Under $25.00
554 0.4
$25.01-$30.00
403 0.8
$30.01-$35.00
4,940 1.4
$35.01-$40.00
3,160 1.2
$40.01-$45.00
124 1.6
$45.01 and over
1,583 0.6
All RSUs10,764 1.1
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes stock options activity for the years ended December 31:
202420232022
Stock Options (in thousands, except per share data)  Number of OptionsWeighted-Average Exercise Price Per ShareNumber of OptionsWeighted-Average Exercise Price Per ShareNumber of OptionsWeighted-Average Exercise Price Per Share
Outstanding at January 1224 $21.45 312 $21.65 409 $21.51 
Exercised(129)21.03 (86)21.97 (97)21.06 
Forfeited or expired— — (2)27.71 — — 
Outstanding at December 3195 $22.03 224 $21.45 312 $21.65 
Exercisable at December 3195 $22.03 224 $21.45 312 $21.65 
Schedule of Outstanding And Exercisable Stock Options Exercise Price
The following table summarizes outstanding and exercisable stock options by exercise price per share at December 31, 2024:
Outstanding Stock OptionsExercisable Stock Options
Stock Options (in thousands, except per share data)Number of OptionsWeighted-Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)Number of OptionsWeighted-Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)
$10.01-$20.00
50 18.58 0.850 18.58 0.8
$20.01-$30.00
45 25.86 2.845 25.86 2.8
All stock options95 $22.03 1.895 $22.03 1.8
v3.25.0.1
Other Noninterest Income and Other Noninterest Expense (Tables)
 12 Months Ended
Dec. 31, 2024
Noninterest Income [Abstract]  
Other Noninterest Income and Other Noninterest Expense
The following table presents the major components of other noninterest income and other noninterest expense for the years ended December 31:
($ in millions)202420232022
Other noninterest income:
BOLI income$66 6164
Private equity investment income35 4470
Equity method investment income18 5222
Income from the TRA associated with Worldpay, Inc.11 2246
Gains (losses) on sales of businesses7 —(7)
Loss on swap associated with the sale of Visa, Inc. Class B Shares(138)(94)(84)
Other, net13 638
Total other noninterest income$12 91149
Other noninterest expense:
FDIC insurance and other taxes$181 385 132 
Leasing business expense92 121 131 
Losses and adjustments86 91 91 
Data processing81 87 82 
Dues and subscriptions61 61 58 
Travel60 56 60 
Securities recordkeeping55 50 48 
Professional service fees49 53 54 
Postal and courier48 46 40 
Cash and coin processing47 48 44 
Intangible amortization35 43 47 
Other, net178 184 145 
Total other noninterest expense$973 1,225 932 
v3.25.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share Basic and Diluted
The following table provides the calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share for the years ended December 31:
($ in millions, except per share data)202420232022
Net income available to common shareholders$2,155 2,212 2,330 
Less: Income allocated to participating securities— — 2 
Net income allocated to common shareholders2,155 2,212 2,328 
Average common shares outstanding - basic682 684 689 
Effect of dilutive stock-based awards5 4 6 
Average common shares outstanding - diluted687 688 695 
Earnings per share - basic3.16 3.23 3.38 
Earnings per share - diluted3.14 3.22 3.35 
Anti-dilutive stock-based awards excluded from diluted shares1 6 3 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables summarize assets and liabilities measured at fair value on a recurring basis as of:
Fair Value Measurements Using
December 31, 2024 ($ in millions)     Level 1     Level 2   Level 3     Total Fair Value
Assets:
   Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,360 — — 4,360 
Obligations of states and political subdivisions securities— — — — 
Mortgage-backed securities:
Agency residential mortgage-backed securities— 5,681 — 5,681 
Agency commercial mortgage-backed securities— 20,832 — 20,832 
          Non-agency commercial mortgage-backed securities— 4,167 — 4,167 
Asset-backed securities and other debt securities— 3,729 — 3,729 
Available-for-sale debt and other securities(a)
4,360 34,409 — 38,769 
Trading debt securities:
U.S. Treasury and federal agencies securities591 35 — 626 
Obligations of states and political subdivisions securities— 120 — 120 
Agency residential mortgage-backed securities— 10 — 10 
Asset-backed securities and other debt securities— 429 — 429 
Trading debt securities591 594 — 1,185 
Equity securities307 34 — 341 
Residential mortgage loans held for sale— 574 — 574 
Residential mortgage loans(b)
— — 108 108 
Servicing rights— — 1,704 1,704 
Derivative assets:
Interest rate contracts7 721 2 730 
Foreign exchange contracts— 1,167 — 1,167 
Commodity contracts75 500 — 575 
Derivative assets(c)
82 2,388 2 2,472 
Total assets$5,340 37,999 1,814 45,153 
Liabilities:
Derivative liabilities:
Interest rate contracts$— 939 5 944 
Foreign exchange contracts— 1,120 — 1,120 
Equity contracts— — 170 170 
Commodity contracts57 507 — 564 
Derivative liabilities(d)
57 2,566 175 2,798 
Short positions:
U.S. Treasury and federal agencies securities139 — — 139 
Asset-backed securities and other debt securities— 156 — 156 
Equity securities21 — — 21 
Short positions(d)
160 156 — 316 
Total liabilities$217 2,722 175 3,114 
(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $276, $500 and $2, respectively, at December 31, 2024.
(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)Included in other assets in the Consolidated Balance Sheets.
(d)Included in other liabilities in the Consolidated Balance Sheets.
Fair Value Measurements Using
December 31, 2023 ($ in millions)Level 1Level 2Level 3Total Fair Value
Assets:
   Available-for-sale debt and other securities:
U.S. Treasury and federal agencies securities$4,336 — — 4,336 
Obligations of states and political subdivisions securities— 2 — 2 
Mortgage-backed securities:
Agency residential mortgage-backed securities— 10,282 — 10,282 
Agency commercial mortgage-backed securities— 25,720 — 25,720 
Non-agency commercial mortgage-backed securities— 4,445 — 4,445 
Asset-backed securities and other debt securities— 4,912 — 4,912 
Available-for-sale debt and other securities(a)
4,336 45,361 — 49,697 
Trading debt securities:
U.S. Treasury and federal agencies securities640 7 — 647 
Obligations of states and political subdivisions securities— 39 — 39 
Agency residential mortgage-backed securities— 6 — 6 
Asset-backed securities and other debt securities— 207 — 207 
Trading debt securities640 259 — 899 
Equity securities600 13 — 613 
Residential mortgage loans held for sale— 334 — 334 
Residential mortgage loans(b)
— — 116 116 
Servicing rights— — 1,737 1,737 
Derivative assets:
Interest rate contracts— 977 6 983 
Foreign exchange contracts— 643 — 643 
Commodity contracts205 846 — 1,051 
Derivative assets(c)
205 2,466 6 2,677 
Total assets$5,781 48,433 1,859 56,073 
Liabilities:
Derivative liabilities:
Interest rate contracts$5 1,202 6 1,213 
Foreign exchange contracts— 600 — 600 
Equity contracts— — 168 168 
Commodity contracts28 990 — 1,018 
Derivative liabilities(d)
33 2,792 174 2,999 
Short positions:
U.S. Treasury and federal agencies securities31 — — 31 
Asset-backed securities and other debt securities— 76 — 76 
Short positions(d)
31 76 — 107 
Total liabilities$64 2,868 174 3,106 
(a)Excludes FHLB, FRB and DTCC restricted stock holdings totaling $224, $496 and $2, respectively, at December 31, 2023.
(b)Includes residential mortgage loans originated as held for sale and subsequently transferred to held for investment.
(c)Included in other assets in the Consolidated Balance Sheets.
(d)Included in other liabilities in the Consolidated Balance Sheets.
Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)
The following tables are a reconciliation of assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the year ended December 31, 2024 ($ in millions)Residential Mortgage LoansServicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total Fair Value
Balance, beginning of period$116 1,737 — (168)1,685 
Total (losses) gains (realized/unrealized):(b)
Included in earnings(1)(77)41 (138)(175)
Purchases/originations— 49 (1)— 48 
Sales— (5)— — (5)
Settlements(11)— (43)136 82 
Transfers into Level 3(c)
4 — — — 4 
Balance, end of period$108 1,704 (3)(170)1,639 
The amount of total (losses) gains for the period
   included in earnings attributable to the change in
   unrealized gains or losses relating to instruments
   still held at December 31, 2024
$(1)14 6 (138)(119)
(a)Net interest rate derivatives include derivative assets and liabilities of $2 and $5, respectively, as of December 31, 2024.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at December 31, 2024.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the year ended December 31, 2023 ($ in millions)Residential Mortgage LoansServicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total Fair Value
Balance, beginning of period$123 1,746 (1)(195)1,673 
Total (losses) gains (realized/unrealized):(b)
Included in earnings2 (105)53 (94)(144)
Purchases/originations— 96 (3)— 93 
Settlements(15)— (49)121 57 
Transfers into Level 3(c)
6 — — — 6 
Balance, end of period$116 1,737 — (168)1,685 
The amount of total (losses) gains for the period
   included in earnings attributable to the change in
   unrealized gains or losses relating to instruments
   still held at December 31, 2023
$2 (28)5 (94)(115)
(a)Net interest rate derivatives include $6 for both derivative assets and liabilities as of December 31, 2023.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at December 31, 2023.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
For the year ended December 31, 2022 ($ in millions)Residential Mortgage LoansServicing
Rights
Interest Rate
Derivatives,
Net(a)
Equity
Derivatives		Total Fair Value
Balance, beginning of period$154 1,121 4 (214)1,065 
Total gains (losses) (realized/unrealized):(b)
Included in earnings(18)177 22 (84)97 
Purchases/originations— 448 1 — 449 
Settlements(23)— (28)103 52 
Transfers into Level 3(c)
10 — — — 10 
Balance, end of period$123 1,746 (1)(195)1,673 
The amount of total gains (losses) for the period
   included in earnings attributable to the change in
   unrealized gains or losses relating to instruments
   still held at December 31, 2022
$(18)311 6 (84)215 
(a)Net interest rate derivatives include derivative assets and liabilities of $7 and $8, respectively, as of December 31, 2022.
(b)There were no unrealized gains or losses for the period included in other comprehensive income for instruments still held at December 31, 2022.
(c)Includes certain residential mortgage loans originated as held for sale that were transferred to held for investment.
Total Gains and Losses Included in Earnings for Assets and Liabilites Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)
The total losses and gains included in earnings for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) were recorded in the Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022 as follows:
($ in millions)202420232022
Mortgage banking net revenue$(38)(54)177 
Capital markets fees2 4 4 
Other noninterest income(139)(94)(84)
Total (losses) gains$(175)(144)97 

The total losses and gains included in earnings attributable to changes in unrealized gains and losses related to Level 3 assets and liabilities still held at December 31, 2024, 2023 and 2022 were recorded in the Consolidated Statements of Income as follows:
($ in millions)202420232022
Mortgage banking net revenue$18 (25)295 
Capital markets fees2 4 4 
Other noninterest income(139)(94)(84)
Total (losses) gains$(119)(115)215 
Quantitative Information About Significant Unobservable Level 3 Fair Value Measurement Inputs
The following tables present information as of December 31, 2024 and 2023 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured at fair value on a recurring basis:
As of December 31, 2024 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable
Inputs		Range of InputsWeighted-Average
Residential mortgage loans$108 Loss rate modelInterest rate risk factor(51.9)-4.6%(13.3)%
(a)
Credit risk factor— -0.5%0.2 %
(a)
Servicing rights1,704 DCFPrepayment speed— -100.0%(Fixed)5.8 %
(b)
(Adjustable)16.9 %
(b)
OAS (bps)420-1,823(Fixed)459
(b)
(Adjustable)731
(b)
IRLCs, net2 DCFLoan closing rates20.8 -96.0%83.5 %
(c)
Swap associated with the sale of Visa, Inc. Class B Shares(170)DCFTiming of the resolution of the Covered LitigationQ2 2027-Q1 2028Q4 2027
(d)
(a)Unobservable inputs were weighted by the relative carrying value of the instruments.
(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.
(c)Unobservable inputs were weighted by the relative notional amount of the instruments.
(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.
As of December 31, 2023 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable
Inputs		Range of InputsWeighted-Average
Residential mortgage loans$116 Loss rate modelInterest rate risk factor(23.4)-3.4%(11.6)%
(a)
Credit risk factor— -0.6%0.2 %
(a)
Servicing rights1,737 DCFPrepayment speed— -100.0%(Fixed)5.9 %
(b)
(Adjustable)20.3 %
(b)
OAS (bps)477-1,447(Fixed)569
(b)
(Adjustable)1,016
(b)
IRLCs, net5 DCFLoan closing rates20.9 -96.0%82.3 %
(c)
Swap associated with the sale of Visa, Inc. Class B Shares(168)DCFTiming of the resolution of the Covered LitigationQ4 2024-Q1 2027Q4 2025
(d)
(a)Unobservable inputs were weighted by the relative carrying value of the instruments
(b)Unobservable inputs were weighted by the relative unpaid principal balance of the instruments.
(c)Unobservable inputs were weighted by the relative notional amount of the instruments.
(d)Unobservable inputs were weighted by the probability of the final funding date of the instruments.
The following tables present information as of December 31, 2024 and 2023 about significant unobservable inputs related to the Bancorp’s material categories of Level 3 financial assets and liabilities measured on a nonrecurring basis:
As of December 31, 2024 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable InputsRanges of
Inputs		Weighted-Average
Commercial loans held for sale$6 Comparable company analysisMarket comparable transactionsNMNM
Commercial loans and leases168 Appraised valueCollateral valueNMNM
Consumer and residential mortgage loans215 Appraised valueCollateral valueNMNM
OREO2 Appraised valueAppraised valueNMNM
Bank premises and equipment7 Appraised valueAppraised valueNMNM
As of December 31, 2023 ($ in millions)
Financial InstrumentFair ValueValuation TechniqueSignificant Unobservable InputsRanges of  
Inputs  		Weighted-Average
Commercial loans held for sale$1 Comparable company analysisMarket comparable transactionsNMNM
Commercial loans and leases163 Appraised valueCollateral valueNMNM
Consumer and residential mortgage loans189 Appraised valueCollateral valueNMNM
OREO18 Appraised valueAppraised valueNMNM
Bank premises and equipment15 Appraised valueAppraised valueNMNM
Operating lease equipment2 Appraised valueAppraised valueNMNM
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
The following tables provide the fair value hierarchy and carrying amount of all assets that were held as of December 31, 2024 and 2023, and for which a nonrecurring fair value adjustment was recorded during the years ended December 31, 2024 and 2023, and the related gains and losses from fair value adjustments on assets sold during the period as well as assets still held as of the end of the period.
Fair Value Measurements UsingTotal (Losses) Gains
As of December 31, 2024 ($ in millions)Level 1  Level 2Level 3    Total For the year ended December 31, 2024
Commercial loans held for sale$— — 6 6 (1)
Commercial loans and leases— — 168 168 (245)
Consumer and residential mortgage loans— — 215 215 (17)
OREO— — 2 2 (2)
Bank premises and equipment— — 7 7 (1)
Private equity investments— 3 — 3 11 
Total$— 3 398 401 (255)
Fair Value Measurements UsingTotal Losses
As of December 31, 2023 ($ in millions)Level 1Level 2Level 3TotalFor the year ended December 31, 2023
Commercial loans held for sale$— — 1 1 — 
Commercial loans and leases— — 163 163 (162)
Consumer and residential mortgage loans— — 189 189 (12)
OREO— — 18 18 (8)
Bank premises and equipment— — 15 15 (2)
Operating lease equipment— — 2 2 — 
Private equity investments— — — — (2)
Total$— — 388 388 (186)
Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Residential Mortgage Loans Measured at Fair Value
The following table summarizes the difference between the fair value and the unpaid principal balance for residential mortgage loans measured at fair value as of:
($ in millions)Aggregate  Fair ValueAggregate Unpaid Principal BalanceDifference
December 31, 2024
Residential mortgage loans measured at fair value$682 693 (11)
Past due loans of 30-89 days1 1 — 
Past due loans of 90 days or more1 1 — 
Nonaccrual loans2 2 — 
December 31, 2023
Residential mortgage loans measured at fair value$450 456 (6)
Past due loans of 30-89 days1 1 — 
Nonaccrual loans2 2 — 
Carrying Amounts and Estimated Fair Values for Certain Financial Instruments
The following tables summarize the carrying amounts and estimated fair values for certain financial instruments, excluding financial instruments measured at fair value on a recurring basis:
Net CarryingFair Value Measurements Using        Total
As of December 31, 2024 ($ in millions)AmountLevel 1Level 2Level 3Fair Value
Financial assets:
Cash and due from banks$3,014 3,014 — — 3,014 
Other short-term investments17,120 17,120 — — 17,120 
Other securities778 — 778 — 778 
Held-to-maturity securities11,278 2,344 8,619 2 10,965 
Loans and leases held for sale66 — — 66 66 
Portfolio loans and leases:
Commercial loans and leases72,139 — — 72,319 72,319 
Consumer and residential mortgage loans45,192 — — 42,155 42,155 
Total portfolio loans and leases, net$117,331 — — 114,474 114,474 
Financial liabilities:
Deposits$167,252 — 167,353 — 167,353 
Federal funds purchased204 204 — — 204 
Other short-term borrowings4,450 — 4,459 — 4,459 
Long-term debt14,440 3,753 10,835 — 14,588 
Net CarryingFair Value Measurements Using        Total
As of December 31, 2023 ($ in millions)AmountLevel 1Level 2Level 3Fair Value
Financial assets:
Cash and due from banks$3,142 3,142 — — 3,142 
Other short-term investments22,082 22,082 — — 22,082 
Other securities722 — 722 — 722 
Held-to-maturity securities2 — — 2 2 
Loans and leases held for sale44 — — 44 44 
Portfolio loans and leases:
Commercial loans and leases71,616 — — 71,766 71,766 
Consumer and residential mortgage loans43,180 — — 41,410 41,410 
Total portfolio loans and leases, net$114,796 — — 113,176 113,176 
Financial liabilities:
Deposits$168,912 — 168,873 — 168,873 
Federal funds purchased193 193 — — 193 
Other short-term borrowings2,861 — 2,872 — 2,872 
Long-term debt16,418 14,481 1,903 — 16,384 
v3.25.0.1
Regulatory Capital Requirements and Capital Ratios (Tables)
 12 Months Ended
Dec. 31, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Capital and Risk-Based Capital and Leverage Ratios for the Bancorp and its Significant Subsidiary Banks
The following table summarizes the prescribed capital ratios for the Bancorp and its banking subsidiary.
Minimum      Well-Capitalized
CET1 capital:
Fifth Third Bancorp4.50 %N/A
Fifth Third Bank, National Association4.50 6.50 
Tier 1 risk-based capital:
Fifth Third Bancorp6.00 6.00 
Fifth Third Bank, National Association6.00 8.00 
Total risk-based capital:
Fifth Third Bancorp8.00 10.00 
Fifth Third Bank, National Association8.00 10.00 
Leverage:
Fifth Third Bancorp4.00 N/A
Fifth Third Bank, National Association4.00 5.00 
The following table presents capital and risk-based capital and leverage ratios for the Bancorp and its banking subsidiary at December 31:
20242023
($ in millions)AmountRatio        AmountRatio      
CET1 capital:
Fifth Third Bancorp$17,339 10.57 %$16,800 10.29 %
Fifth Third Bank, National Association20,943 12.86 20,147 12.42 
Tier 1 risk-based capital:
Fifth Third Bancorp19,455 11.86 18,916 11.59 
Fifth Third Bank, National Association20,943 12.86 20,147 12.42 
Total risk-based capital:
Fifth Third Bancorp22,746 13.86 22,400 13.72 
Fifth Third Bank, National Association23,116 14.19 22,463 13.85 
Leverage:(a)
Fifth Third Bancorp19,455 9.22 18,916 8.73 
Fifth Third Bank, National Association20,943 10.02 20,147 9.38 
(a)Quarterly average assets are a component of the Leverage ratio and for this purpose do not include goodwill and any other intangible assets and other investments that the U.S. banking agencies determine should be deducted from Tier 1 capital.
v3.25.0.1
Parent Company Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Statements of Income (Parent Company Only)
Condensed Statements of Income (Parent Company Only)
For the years ended December 31 ($ in millions)202420232022
Income
Dividends from consolidated nonbank subsidiaries(a)
$1,800 1,819 165 
Securities gains (losses), net3 4 (9)
Interest 85 63 11 
Total income1,888 1,886 167 
Expenses
Interest553 525 311 
Other27 39 19 
Total expenses580 564 330 
Income (Loss) Before Income Taxes and Equity in Undistributed Earnings of Subsidiaries1,308 1,322 (163)
Applicable income tax benefit(115)(112)(76)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries1,423 1,434 (87)
Equity in undistributed earnings891 915 2,533 
Net Income$2,314 2,349 2,446 
Other Comprehensive Income— — — 
Comprehensive Income$2,314 2,349 2,446 
(a)Includes dividends paid by the Bancorp’s indirect banking subsidiary to the Bancorp’s direct nonbank subsidiary holding company of $1.8 billion for both the years ended December 31, 2024 and 2023. The Bancorp’s indirect banking subsidiary did not pay dividends during the year ended December 31, 2022.
Condensed Balance Sheets (Parent Company Only)
Condensed Balance Sheets (Parent Company Only)
As of December 31 ($ in millions)20242023
Assets
Cash$969 120 
Other short-term investments3,106 6,500 
Available-for-sale debt and other securities2,500 1,000 
Equity securities29 34 
Loans to nonbank subsidiaries5 — 
Investment in nonbank subsidiaries22,891 21,998 
Goodwill80 80 
Other assets156 179 
Total Assets$29,736 29,911 
Liabilities
Other short-term borrowings$3 — 
Accrued expenses and other liabilities567 631 
Long-term debt (external)9,521 10,108 
Total Liabilities$10,091 10,739 
Equity
Common stock$2,051 2,051 
Preferred stock2,116 2,116 
Capital surplus3,804 3,757 
Retained earnings24,150 22,997 
Accumulated other comprehensive loss(4,636)(4,487)
Treasury stock(7,840)(7,262)
Total Equity19,645 19,172 
Total Liabilities and Equity$29,736 29,911 
Condensed Statements of Cash Flows (Parent Company Only)
Condensed Statements of Cash Flows (Parent Company Only)   
For the years ended December 31 ($ in millions)202420232022
Operating Activities   
Net income$2,314 2,349 2,446 
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and accretion7 7 7 
Provision for (benefit from) deferred income taxes2 1 (3)
Securities (gains) losses, net(3)(4)9 
Equity in undistributed earnings(891)(915)(2,533)
Net change in:
Equity securities8 4 6 
Other assets(49)147 (115)
Accrued expenses and other liabilities(60)(126)45 
Net Cash Provided by (Used in) Operating Activities1,328 1,463 (138)
Investing Activities
Proceeds from maturities of securities issued by subsidiary1,000 1,000 — 
Purchase of securities issued by subsidiary(2,500)(1,000)(1,000)
Net change in:
Other short-term investments3,394 (833)567 
Loans to nonbank subsidiaries(5)60 132 
Net Cash Provided by (Used in) Investing Activities1,889 (773)(301)
Financing Activities
Net change in other short-term borrowings3 (121)(240)
Proceeds from issuance of long-term debt1,742 1,244 2,986 
Repayment of long-term debt(2,250)(500)(1,200)
Dividends paid on common and preferred stock(1,176)(1,060)(927)
Repurchase of treasury stock and related forward contract(625)(200)(100)
Other, net(62)(53)(82)
Net Cash (Used in) Provided by Financing Activities(2,368)(690)437 
Increase (Decrease) in Cash849 — (2)
Cash at Beginning of Period120 120 122 
Cash at End of Period$969 120 120 
v3.25.0.1
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Results of Operations and Assets by Segment
The following tables present the results of operations and assets by segment for the years ended December 31:
2024 ($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(d)
Total
Net interest income (FTE)(a)
$2,647 4,169 210 (1,372)5,654 
Provision for (benefit from) credit losses304 322 — (96)530 
Net interest income after provision for (benefit from) credit losses$2,343 3,847 210 (1,276)5,124 
Noninterest income:
Wealth and asset management revenue$3 247 397 — 647 
Commercial payments revenue529 76 1 2 608 
Consumer banking revenue— 551 2 2 555 
Capital markets fees421 2 2 (1)424 
Commercial banking revenue373 4 — — 377 
Mortgage banking net revenue— 210 1 — 211 
Other noninterest income53 4 1 (46)12 
Securities gains, net1 — — 14 15 
Total noninterest income$1,380 1,094 404 (29)2,849 
Noninterest expense:
Compensation and benefits$656 882 222 1,003 2,763 
Technology and communications14 30 1 429 474 
Net occupancy expense(b)
36 212 12 79 339 
Equipment expense28 51 — 74 153 
Loan and lease expense31 80 1 20 132 
Marketing expense3 68 1 43 115 
Card and processing expense9 75 1 (1)84 
Other noninterest expense(c)
1,117 1,074 149 (1,367)973 
Total noninterest expense$1,894 2,472 387 280 5,033 
Income (loss) before income taxes (FTE)$1,829 2,469 227 (1,585)2,940 
Average assets$77,177 51,627 4,390 79,612 212,806 
(a)Includes FTE adjustments of $15 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes impairment losses and termination charges of $1 for ROU assets related to certain operating leases. For more information, refer to Note 9.
(c)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(d)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
2023 ($ in millions)Commercial BankingConsumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(e)
Total      
Net interest income (FTE)(a)
$3,828 5,207 360 (3,543)5,852 
Provision for credit losses12 303 1 199 515 
Net interest income after provision for credit losses$3,816 4,904 359 (3,742)5,337 
Noninterest income:
Wealth and asset management revenue$2 216 363 — 581 
Commercial payments revenue473 85 1 5 564 
Consumer banking revenue— 544 2 — 546 
Capital markets fees419 2 1 — 422 
Commercial banking revenue406 2 — 1 409 
Mortgage banking net revenue— 250 — — 250 
Other noninterest income(b)
65 6 2 18 91 
Securities gains (losses), net(9)— — 27 18 
Total noninterest income$1,356 1,105 369 51 2,881 
Noninterest expense:
Compensation and benefits$654 878 220 942 2,694 
Technology and communications14 27 1 422 464 
Net occupancy expense(c)
41 209 12 69 331 
Equipment expense29 44 — 75 148 
Loan and lease expense30 86 1 16 133 
Marketing expense3 70 1 52 126 
Card and processing expense11 76 1 (4)84 
Other noninterest expense(d)
1,221 1,125 139 (1,260)1,225 
Total noninterest expense$2,003 2,515 375 312 5,205 
Income (loss) before income taxes (FTE)$3,169 3,494 353 (4,003)3,013 
Average assets$83,078 50,974 4,678 69,696 208,426 
(a)Includes FTE adjustments of $16 for Commercial Banking and $9 for General Corporate and Other.
(b)Includes impairment charges of $1 recorded in Consumer and Small Business Banking and $1 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7 and Note 28.
(c)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9. 
(d)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(e)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
2022 ($ in millions)Commercial
Banking		Consumer and Small Business BankingWealth
and Asset
Management
General
Corporate
and Other(f)
Total      
Net interest income (FTE)(a)
$2,552 3,131 262 (320)5,625 
Provision for credit losses33 139 — 391 563 
Net interest income after provision for credit losses$2,519 2,992 262 (711)5,062 
Noninterest income:
Wealth and asset management revenue$3 204 363 — 570 
Commercial payments revenue468 89 1 10 568 
Consumer banking revenue— 538 2 2 542 
Capital markets fees387 2 — (2)387 
Commercial banking revenue417 
(c)
1 1 — 419 
Mortgage banking net revenue— 214 1 — 215 
Other noninterest income(b)
98 7 — 44 149 
Securities losses, net(33)(2)— (49)(84)
Total noninterest income$1,340 1,053 368 5 2,766 
Noninterest expense:
Compensation and benefits$639 828 218 869 2,554 
Technology and communications11 22 1 382 416 
Net occupancy expense(d)
40 196 13 58 307 
Equipment expense27 38 — 80 145 
Loan and lease expense27 107 1 32 167 
Marketing expense5 58 1 54 118 
Card and processing expense11 72 1 (4)80 
Other noninterest expense(e)
1,063 1,068 144 (1,343)932 
Total noninterest expense$1,823 2,389 379 128 4,719 
Income (loss) before income taxes (FTE)$2,036 1,656 251 (834)3,109 
Average assets$82,239 49,823 4,763 70,104 206,929 
(a)Includes FTE adjustments of $10 for Commercial Banking and $6 for General Corporate and Other.
(b)Includes impairment charges of $6 recorded in Consumer and Small Business Banking and $3 recorded in General Corporate and Other for bank premises and equipment. For more information, refer to Note 7.
(c)Includes impairment charges of $2 for operating lease equipment. For more information, refer to Note 8.
(d)Includes impairment losses and termination charges of $2 for ROU assets related to certain operating leases. For more information, refer to Note 9.
(e)Includes segment expenses which are classified as other noninterest expense and allocations of corporate and shared services expenses.
(f)General Corporate and Other is not a reportable segment and is presented for reconciliation purposes.
v3.25.0.1
Summary of Significant Accounting and Reporting Policies - Portfolio Loans and Leases (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Commercial  
Financing Receivable, Recorded Investment, Past Due  
Threshold period past due for nonaccrual loans 90 days
Established threshold nonaccrual commercial loans $ 1
Commercial | Credit card  
Financing Receivable, Recorded Investment, Past Due  
Loans modified as TDR maintained on accrual status, payment history, period 6 months
Residential Mortgage | Residential mortgage loans  
Financing Receivable, Recorded Investment, Past Due  
Threshold period past due for nonaccrual loans 150 days
Foreclosure process, period 180 days
Threshold period past due for accrual loans 90 days
Consumer | Home equity  
Financing Receivable, Recorded Investment, Past Due  
Threshold period past due for nonaccrual loans 90 days
Threshold period past due for nonaccrual loans, with senior lien in default 60 days
Senior lien in default, threshold period 120 days
Consumer | Credit card  
Financing Receivable, Recorded Investment, Past Due  
Threshold period past due 90 days
Consumer | Indirect Secured Consumer Loan And Other Consumer Loan  
Financing Receivable, Recorded Investment, Past Due  
Threshold period past due for nonaccrual loans 90 days
Consumer | Consumer Loan  
Financing Receivable, Recorded Investment, Past Due  
Threshold period past due for nonaccrual loans 60 days
Threshold past due for nonaccrual loans, principal or interest 60 days
v3.25.0.1
Summary of Significant Accounting and Reporting Policies - ALLL (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Commercial And Credit Card Portfolio Segment  
Financing Receivable, Recorded Investment, Past Due  
Financing Receivable, Troubled Debt Modification On Nonaccrual Status, Payment History, Period 6 months
Large Commercial Loans and Leases  
Financing Receivable, Recorded Investment, Past Due  
Larger commercial loans, subject to impairment review $ 1
Commercial  
Financing Receivable, Recorded Investment, Past Due  
Loans modified as TDR maintained on accrual status, payment history, period 6 months
v3.25.0.1
Summary of Significant Accounting and Reporting Policies - Pension Plans (Details)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Net gain (loss) in excess of projected benefit obligation, percentage 10.00%
v3.25.0.1
Summary of Significant Accounting and Reporting Policies - Accounting Standards (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Jan. 01, 2024
Dec. 31, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Retained earnings $ (24,150)   $ (22,997)
Cumulative Effect, Period of Adoption, Adjustment      
New Accounting Pronouncements or Change in Accounting Principle [Line Items]      
Retained earnings   $ 10  
v3.25.0.1
Supplemental Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Payments:      
Interest $ 4,871 $ 3,776 $ 869
Income taxes 195 655 272
Transfers:      
Portfolio loans and leases to loans and leases held for sale 422 513 105
Loans and leases held for sale to portfolio loans and leases 4 6 409
Portfolio loans and leases to OREO 23 12 8
Bank premises and equipment to OREO 9 30 24
Available-for-sale debt securities to held-to-maturity securities 11,593 0 0
Supplemental Disclosures:      
Net additions to lease liabilities under operating leases 74 72 152
Net additions (reductions) to lease liabilities under finance leases $ 44 $ (6) $ 27
v3.25.0.1
Restrictions on Dividends and Capital Actions (Details) - USD ($)
$ / shares in Units, $ in Billions
 3 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash and Cash Equivalents [Abstract]        
Dividends from consolidated nonbank subsidiaries   $ 1.8 $ 1.8  
Common stock dividends, per share (in dollars per share) $ 0.37 $ 1.44 $ 1.36 $ 1.26
v3.25.0.1
Investment Securities - Investment Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Available-for-sale debt and other securities:    
Amortized Cost $ 43,878 $ 55,789
Unrealized Gains 6 9
Unrealized Losses (4,337) (5,379)
Fair Value 39,547 50,419
Held-to-maturity securities:(b)    
Amortized Cost 11,278 2
Unrealized Gains 0 0
Unrealized Losses (313) 0
Fair Value 10,965 2
Trading debt securities 1,185 899
Equity securities 341 613
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale Transferred to Held-to-Maturity, Parent    
Available-for-sale debt and other securities:    
AOCI offset, unamortized portion of unrealized losses on securities 865  
U.S. Treasury and federal agencies securities    
Available-for-sale debt and other securities:    
Amortized Cost 4,358 4,477
Unrealized Gains 2 1
Unrealized Losses 0 (142)
Fair Value 4,360 4,336
Held-to-maturity securities:(b)    
Amortized Cost 2,370  
Unrealized Gains 0  
Unrealized Losses (26)  
Fair Value 2,344  
Obligations of states and political subdivisions securities    
Available-for-sale debt and other securities:    
Amortized Cost 0 2
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 0 2
Agency mortgage-backed securities | Residential mortgage backed securities    
Available-for-sale debt and other securities:    
Amortized Cost 6,460 11,564
Unrealized Gains 0 0
Unrealized Losses (779) (1,282)
Fair Value 5,681 10,282
Held-to-maturity securities:(b)    
Amortized Cost 4,898  
Unrealized Gains 0  
Unrealized Losses (197)  
Fair Value 4,701  
Agency mortgage-backed securities | Commercial mortgage-backed securities    
Available-for-sale debt and other securities:    
Amortized Cost 23,853 28,945
Unrealized Gains 1 5
Unrealized Losses (3,022) (3,230)
Fair Value 20,832 25,720
Held-to-maturity securities:(b)    
Amortized Cost 4,008  
Unrealized Gains 0  
Unrealized Losses (90)  
Fair Value 3,918  
Non-agency mortgage-backed securities | Commercial mortgage-backed securities    
Available-for-sale debt and other securities:    
Amortized Cost 4,505 4,872
Unrealized Gains 0 0
Unrealized Losses (338) (427)
Fair Value 4,167 4,445
Asset-backed securities and other debt securities    
Available-for-sale debt and other securities:    
Amortized Cost 3,924 5,207
Unrealized Gains 3 3
Unrealized Losses (198) (298)
Fair Value 3,729 4,912
Held-to-maturity securities:(b)    
Amortized Cost 2 2
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 2 2
Other securities    
Available-for-sale debt and other securities:    
Amortized Cost 778 722
Unrealized Gains 0 0
Unrealized Losses 0 0
Fair Value 778 722
FHLB, restricted stock holdings 276 224
FRB, restricted stock holdings 500 496
DTCC, restricted stock holdings $ 2 $ 2
v3.25.0.1
Investment Securities - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended
Jan. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Investments, Unrealized Loss Position      
Accrued interest receivables on investment securities   $ 162 $ 146
Transfer of available-for-sale securities to held-to-maturity $ 12,600    
OCI, available-for-sale debt securities transferred to held-to-maturity, pretax unrealized losses $ 994    
Securities with a fair value, pledged as collateral   30,000 25,200
Unrealized losses   4,337 5,379
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale Transferred to Held-to-Maturity, Parent      
Investments, Unrealized Loss Position      
AOCI offset, unamortized portion of unrealized losses on securities   865  
Non-rated Securities      
Investments, Unrealized Loss Position      
Unrealized losses   $ 34 $ 45
v3.25.0.1
Investment Securities - Gains and Losses Recognized in Income from Securities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Available-for-sale debt and other securities:      
Realized gains $ 5 $ 34 $ 16
Realized losses (2) (30) (13)
Impairment losses (21) (5) (1)
Net (losses) gains on available-for-sale debt and other securities (18) (1) 2
Trading debt securities:      
Net realized losses 0 0 (2)
Net unrealized gains 0 3 11
Net trading debt securities gains 0 3 9
Equity securities:      
Net realized gains 15 5 1
Net unrealized gains (losses) 18 11 (96)
Net equity securities gains (losses) 33 16 (95)
Total (losses) gains recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities 15 18 (84)
Commercial Banking Revenue and Wealth and Asset Management Revenue      
Equity securities:      
Total (losses) gains recognized in income from available-for-sale debt and other securities, trading debt securities and equity securities $ 5 $ 13 $ 0
v3.25.0.1
Investment Securities - Amortized Cost and Fair Value of Available-for-Sale Debt and Held-to-Maturity Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Available-for-Sale Debt and Other, Amortized Cost    
Due in 1 year or less $ 3,682  
Due after 1 year through 5 years 16,586  
Due after 5 years through 10 years 16,262  
Due after 10 years 6,570  
Other securities 778  
Amortized Cost 43,878 $ 55,789
Available-for-Sale Debt and Other, Fair Value    
Due in 1 year or less 3,666  
Due after 1 year through 5 years 15,643  
Due after 5 years through 10 years 13,830  
Due after 10 years 5,630  
Other securities 778  
Fair Value 39,547 50,419
Held-to-Maturity, Amortized Cost    
Due in 1 year or less 37  
Due after 1 year through 5 years 3,231  
Due after 5 years through 10 years 7,549  
Due after 10 years 461  
Other securities 0  
Amortized Cost 11,278 2
Held-to-Maturity, Fair Value    
Due in 1 year or less 38  
Due after 1 year through 5 years 3,191  
Due after 5 years through 10 years 7,286  
Due after 10 years 450  
Other securities 0  
Fair Value $ 10,965 $ 2
v3.25.0.1
Investment Securities - Fair Value and Gross Unrealized Losses on Available-for-Sale Debt Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value    
Less than 12 months $ 2,253 $ 7,990
12 months or more 32,243 40,782
Total 34,496 48,772
Unrealized Losses    
Less than 12 months (34) (580)
12 months or more (4,303) (4,799)
Total (4,337) (5,379)
Amortized Cost 11,278 2
U.S. Treasury and federal agencies securities    
Fair Value    
Less than 12 months 569 1,989
12 months or more 0 2,157
Total 569 4,146
Unrealized Losses    
Less than 12 months 0 (3)
12 months or more 0 (139)
Total 0 (142)
Amortized Cost 2,370  
Agency mortgage-backed securities | Residential mortgage backed securities    
Fair Value    
Less than 12 months 1,061 81
12 months or more 4,566 10,200
Total 5,627 10,281
Unrealized Losses    
Less than 12 months (14) (2)
12 months or more (765) (1,280)
Total (779) (1,282)
Amortized Cost 4,898  
Agency mortgage-backed securities | Commercial mortgage-backed securities    
Fair Value    
Less than 12 months 157 5,439
12 months or more 20,536 19,957
Total 20,693 25,396
Unrealized Losses    
Less than 12 months (6) (556)
12 months or more (3,016) (2,674)
Total (3,022) (3,230)
Amortized Cost 4,008  
Non-agency mortgage-backed securities | Commercial mortgage-backed securities    
Fair Value    
Less than 12 months 183 141
12 months or more 3,984 4,284
Total 4,167 4,425
Unrealized Losses    
Less than 12 months (3) (2)
12 months or more (335) (425)
Total (338) (427)
Asset-backed securities and other debt securities    
Fair Value    
Less than 12 months 283 340
12 months or more 3,157 4,184
Total 3,440 4,524
Unrealized Losses    
Less than 12 months (11) (17)
12 months or more (187) (281)
Total (198) (298)
Amortized Cost $ 2 $ 2
v3.25.0.1
Loans and Leases - Loans and Leases Classified by Primary Purpose (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Loans and leases held for sale:    
Loans and leases held for sale $ 640 $ 378
Portfolio loans and leases:    
Total portfolio loans and leases 119,791 117,234
Commercial    
Portfolio loans and leases:    
Total portfolio loans and leases 73,293 72,746
Commercial | Commercial and industrial loans    
Loans and leases held for sale:    
Loans and leases held for sale 15 41
Portfolio loans and leases:    
Total portfolio loans and leases 52,271 53,270
Commercial | Commercial mortgage loans    
Loans and leases held for sale:    
Loans and leases held for sale 22 0
Portfolio loans and leases:    
Total portfolio loans and leases 12,246 11,276
Commercial | Commercial construction loans    
Loans and leases held for sale:    
Loans and leases held for sale 29 0
Portfolio loans and leases:    
Total portfolio loans and leases 5,588 5,621
Commercial | Commercial leases    
Loans and leases held for sale:    
Loans and leases held for sale 0 3
Portfolio loans and leases:    
Total portfolio loans and leases 3,188 2,579
Consumer    
Portfolio loans and leases:    
Total portfolio loans and leases 46,498 44,488
Consumer | Residential mortgage loans    
Loans and leases held for sale:    
Loans and leases held for sale 574 334
Portfolio loans and leases:    
Total portfolio loans and leases 17,543 17,026
Consumer | Home equity    
Portfolio loans and leases:    
Total portfolio loans and leases 4,188 3,916
Consumer | Indirect secured consumer loans    
Portfolio loans and leases:    
Total portfolio loans and leases 16,313 14,965
Consumer | Credit card    
Portfolio loans and leases:    
Total portfolio loans and leases 1,734 1,865
Consumer | Solar energy installation loans    
Portfolio loans and leases:    
Total portfolio loans and leases 4,202 3,728
Consumer | Other consumer loans    
Portfolio loans and leases:    
Total portfolio loans and leases $ 2,518 $ 2,988
v3.25.0.1
Loans and Leases - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Unearned income $ 380 $ 272    
Accrued interest receivable 566 593    
Net premium (discount) $ (324) $ (395)    
Direct Financing Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and Dividend Income, Operating Interest and Dividend Income, Operating Interest and Dividend Income, Operating  
Sales-Type Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and Dividend Income, Operating Interest and Dividend Income, Operating Interest and Dividend Income, Operating  
Direct financing lease - interest income $ 40 $ 26 $ 29  
Sales type lease - interest income 82 63 50  
Allowance for loan and lease losses 2,352 [1] 2,322 [1] $ 2,194 $ 1,892
Commercial leases        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for loan and lease losses 16 13    
Solar energy installation loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Net premium (discount) (901) (865)    
FHLB advances        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans pledged 15,100 14,500    
FRB Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Loans pledged $ 55,300 $ 49,300    
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Loans and Leases - Total Loans and Leases Managed by the Bancorp and Net Charge-Offs (Recoveries) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value $ 120,431 $ 117,612
Loans and leases held for sale 640 378
Total portfolio loans and leases 119,791 117,234
90 Days Past Due and Still Accruing 32 36
Net Charge-Offs (Recoveries) 532 388
Commercial    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Total portfolio loans and leases 73,293 72,746
Commercial | Commercial and industrial loans    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 52,286 53,311
90 Days Past Due and Still Accruing 5 8
Net Charge-Offs (Recoveries) 242 155
Commercial | Commercial mortgage loans    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 12,268 11,276
90 Days Past Due and Still Accruing 0 0
Net Charge-Offs (Recoveries) 0 (2)
Commercial | Commercial construction loans    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 5,617 5,621
90 Days Past Due and Still Accruing 0 0
Net Charge-Offs (Recoveries) 0 1
Commercial | Commercial leases    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 3,188 2,582
90 Days Past Due and Still Accruing 1 0
Net Charge-Offs (Recoveries) 2 (1)
Consumer    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Total portfolio loans and leases 46,498 44,488
Consumer | Residential mortgage loans    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 18,117 17,360
90 Days Past Due and Still Accruing 6 7
Net Charge-Offs (Recoveries) (2) 0
Consumer | Indirect secured consumer loans    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 16,313 14,965
90 Days Past Due and Still Accruing 0 0
Net Charge-Offs (Recoveries) 90 72
Consumer | Home equity    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 4,188 3,916
90 Days Past Due and Still Accruing 0 0
Net Charge-Offs (Recoveries) (1) 1
Consumer | Credit card    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 1,734 1,865
90 Days Past Due and Still Accruing 20 21
Net Charge-Offs (Recoveries) 68 64
Consumer | Solar energy installation loans    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 4,202 3,728
90 Days Past Due and Still Accruing 0 0
Net Charge-Offs (Recoveries) 56 26
Consumer | Other consumer loans    
Assets that Continue to be Recognized, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together    
Carrying Value 2,518 2,988
90 Days Past Due and Still Accruing 0 0
Net Charge-Offs (Recoveries) $ 77 $ 72
v3.25.0.1
Loans and Leases - Components of Net Investment in Leases (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Net investment in sales-type leases:    
Leveraged leases $ 248 $ 249
Direct Financing Leases    
Net investment in direct financing leases:    
Lease payment receivable (present value) 631 556
Unguaranteed residual assets (present value) 121 105
Sales-Type Leases    
Net investment in sales-type leases:    
Lease payment receivable (present value) 2,102 1,585
Unguaranteed residual assets (present value) $ 86 $ 84
v3.25.0.1
Loans and Leases - Undiscounted Cash Flows (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Direct Financing Leases  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
2025 $ 197
2026 169
2027 137
2028 76
2029 53
Thereafter 69
Total undiscounted cash flows 701
Less: Difference between undiscounted cash flows and discounted cash flows 70
Present value of lease payments (recognized as lease receivables) 631
Sales-Type Leases  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
2025 653
2026 508
2027 438
2028 313
2029 172
Thereafter 229
Total undiscounted cash flows 2,313
Less: Difference between undiscounted cash flows and discounted cash flows 211
Present value of lease payments (recognized as lease receivables) $ 2,102
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Transactions in the ALLL by Portfolio Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period $ 2,322 [1] $ 2,194 $ 1,892
Losses charged off (686) (522) (362)
Recoveries previously charged off 154 134 135
Provision for (benefit from) loan and lease losses 562 565 529
Balance, end of period 2,352 [1] 2,322 [1] $ 2,194
Accounting Standards Update [Extensible Enumeration]     Accounting Standards Update 2022-02 [Member]
Other Consumer Loans, Point of Sale      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Losses charged off (28) (35) $ (32)
Recoveries previously charged off 28 35 32
Cumulative Effect, Period of Adoption, Adjustment      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period   (49)  
Balance, end of period     (49)
Commercial      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period 1,130 1,127 1,102
Losses charged off (267) (170) (131)
Recoveries previously charged off 23 17 30
Provision for (benefit from) loan and lease losses 268 152 126
Balance, end of period 1,154 1,130 1,127
Commercial | Cumulative Effect, Period of Adoption, Adjustment      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period   4  
Balance, end of period     4
Residential Mortgage      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period 145 245 235
Losses charged off (2) (4) (3)
Recoveries previously charged off 4 4 5
Provision for (benefit from) loan and lease losses (1) (64) 8
Balance, end of period 146 145 245
Residential Mortgage | Cumulative Effect, Period of Adoption, Adjustment      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period   (36)  
Balance, end of period     (36)
Consumer      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period 1,047 822 555
Losses charged off (417) (348) (228)
Recoveries previously charged off 127 113 100
Provision for (benefit from) loan and lease losses 295 477 395
Balance, end of period $ 1,052 1,047 822
Consumer | Cumulative Effect, Period of Adoption, Adjustment      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period   $ (17)  
Balance, end of period     $ (17)
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of the ALLL and Related Loans and Leases Classified by Portfolio Segment (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]        
Individually evaluated $ 117 $ 96    
Collectively evaluated 2,235 2,226    
Total ALLL 2,352 [1] 2,322 [1] $ 2,194 $ 1,892
Individually evaluated 622 476    
Collectively evaluated 119,061 116,642    
Total portfolio loans and leases 119,683 117,118    
Leveraged leases 248 249    
Commercial Leveraged Leases        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Total ALLL 1 2    
Commercial        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Individually evaluated 106 90    
Collectively evaluated 1,048 1,040    
Total ALLL 1,154 1,130 1,127 1,102
Individually evaluated 395 281    
Collectively evaluated 72,898 72,465    
Total portfolio loans and leases 73,293 72,746    
Residential Mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Individually evaluated 0 0    
Collectively evaluated 146 145    
Total ALLL 146 145 245 235
Individually evaluated 131 126    
Collectively evaluated 17,304 16,784    
Total portfolio loans and leases 17,435 16,910    
Loans 108 116    
Consumer        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Individually evaluated 11 6    
Collectively evaluated 1,041 1,041    
Total ALLL 1,052 1,047 $ 822 $ 555
Individually evaluated 96 69    
Collectively evaluated 28,859 27,393    
Total portfolio loans and leases $ 28,955 $ 27,462    
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Credit Risk Profile of the Bancorp's Commercial Portfolio Segment by Class (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications    
Total $ 119,791 $ 117,234
Commercial    
Financing Receivable, Modifications    
Year One 6,248 5,105
Year Two 3,436 6,197
Year Three 4,665 3,499
Year Four 2,583 1,650
Year Five 1,135 1,099
Prior 1,771 1,730
Revolving and Other Loans 53,455 53,466
Total 73,293 72,746
Commercial | Pass    
Financing Receivable, Modifications    
Year One 5,998 4,649
Year Two 3,243 5,759
Year Three 4,339 3,328
Year Four 2,461 1,579
Year Five 1,086 990
Prior 1,669 1,494
Revolving and Other Loans 49,277 49,710
Total 68,073 67,509
Commercial | Special mention    
Financing Receivable, Modifications    
Year One 81 158
Year Two 26 298
Year Three 97 90
Year Four 16 38
Year Five 5 20
Prior 16 121
Revolving and Other Loans 1,992 2,056
Total 2,233 2,781
Commercial | Substandard    
Financing Receivable, Modifications    
Year One 169 298
Year Two 167 140
Year Three 227 81
Year Four 106 33
Year Five 44 89
Prior 86 115
Revolving and Other Loans 2,116 1,694
Total 2,915 2,450
Commercial | Doubtful    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 2 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 70 6
Total 72 6
Commercial | Commercial and industrial loans    
Financing Receivable, Modifications    
Year One 3,048 2,245
Year Two 1,454 3,637
Year Three 2,651 1,902
Year Four 1,396 631
Year Five 406 308
Prior 461 499
Revolving and Other Loans 42,855 44,048
Total 52,271 53,270
Commercial | Commercial and industrial loans | Pass    
Financing Receivable, Modifications    
Year One 2,966 2,124
Year Two 1,346 3,434
Year Three 2,445 1,814
Year Four 1,321 580
Year Five 371 263
Prior 437 321
Revolving and Other Loans 40,185 40,889
Total 49,071 49,425
Commercial | Commercial and industrial loans | Special mention    
Financing Receivable, Modifications    
Year One 15 16
Year Two 13 100
Year Three 22 60
Year Four 1 33
Year Five 3 6
Prior 9 105
Revolving and Other Loans 1,055 1,756
Total 1,118 2,076
Commercial | Commercial and industrial loans | Substandard    
Financing Receivable, Modifications    
Year One 67 105
Year Two 95 103
Year Three 182 28
Year Four 74 18
Year Five 32 39
Prior 15 73
Revolving and Other Loans 1,545 1,397
Total 2,010 1,763
Commercial | Commercial and industrial loans | Doubtful    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 2 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 70 6
Total 72 6
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Modifications    
Year One 858 931
Year Two 833 1,123
Year Three 891 775
Year Four 665 418
Year Five 324 270
Prior 353 270
Revolving and Other Loans 2,099 1,413
Total 6,023 5,200
Commercial | Commercial mortgage owner-occupied loans: | Pass    
Financing Receivable, Modifications    
Year One 786 870
Year Two 790 1,078
Year Three 844 746
Year Four 630 408
Year Five 315 219
Prior 307 260
Revolving and Other Loans 1,829 1,279
Total 5,501 4,860
Commercial | Commercial mortgage owner-occupied loans: | Special mention    
Financing Receivable, Modifications    
Year One 8 30
Year Two 9 23
Year Three 23 18
Year Four 7 0
Year Five 0 6
Prior 3 0
Revolving and Other Loans 31 20
Total 81 97
Commercial | Commercial mortgage owner-occupied loans: | Substandard    
Financing Receivable, Modifications    
Year One 64 31
Year Two 34 22
Year Three 24 11
Year Four 28 10
Year Five 9 45
Prior 43 10
Revolving and Other Loans 239 114
Total 441 243
Commercial | Commercial mortgage owner-occupied loans: | Doubtful    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Total 0 0
Commercial | Commercial mortgage nonowner-occupied loans:    
Financing Receivable, Modifications    
Year One 802 1,078
Year Two 778 992
Year Three 828 269
Year Four 175 350
Year Five 263 293
Prior 410 247
Revolving and Other Loans 2,967 2,847
Total 6,223 6,076
Commercial | Commercial mortgage nonowner-occupied loans: | Pass    
Financing Receivable, Modifications    
Year One 710 886
Year Two 751 825
Year Three 769 261
Year Four 170 348
Year Five 263 293
Prior 408 243
Revolving and Other Loans 2,698 2,724
Total 5,769 5,580
Commercial | Commercial mortgage nonowner-occupied loans: | Special mention    
Financing Receivable, Modifications    
Year One 54 111
Year Two 0 166
Year Three 50 0
Year Four 5 2
Year Five 0 0
Prior 0 2
Revolving and Other Loans 150 81
Total 259 362
Commercial | Commercial mortgage nonowner-occupied loans: | Substandard    
Financing Receivable, Modifications    
Year One 38 81
Year Two 27 1
Year Three 9 8
Year Four 0 0
Year Five 0 0
Prior 2 2
Revolving and Other Loans 119 42
Total 195 134
Commercial | Commercial mortgage nonowner-occupied loans: | Doubtful    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Total 0 0
Commercial | Commercial construction loans    
Financing Receivable, Modifications    
Year One 4 232
Year Two 21 36
Year Three 0 78
Year Four 29 41
Year Five 0 70
Prior 0 6
Revolving and Other Loans 5,534 5,158
Total 5,588 5,621
Commercial | Commercial construction loans | Pass    
Financing Receivable, Modifications    
Year One 4 171
Year Two 21 36
Year Three 0 45
Year Four 29 41
Year Five 0 70
Prior 0 6
Revolving and Other Loans 4,565 4,818
Total 4,619 5,187
Commercial | Commercial construction loans | Special mention    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 756 199
Total 756 199
Commercial | Commercial construction loans | Substandard    
Financing Receivable, Modifications    
Year One 0 61
Year Two 0 0
Year Three 0 33
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 213 141
Total 213 235
Commercial | Commercial construction loans | Doubtful    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Total 0 0
Commercial | Commercial leases    
Financing Receivable, Modifications    
Year One 1,536 619
Year Two 350 409
Year Three 295 475
Year Four 318 210
Year Five 142 158
Prior 547 708
Revolving and Other Loans 0 0
Total 3,188 2,579
Commercial | Commercial leases | Pass    
Financing Receivable, Modifications    
Year One 1,532 598
Year Two 335 386
Year Three 281 462
Year Four 311 202
Year Five 137 145
Prior 517 664
Revolving and Other Loans 0 0
Total 3,113 2,457
Commercial | Commercial leases | Special mention    
Financing Receivable, Modifications    
Year One 4 1
Year Two 4 9
Year Three 2 12
Year Four 3 3
Year Five 2 8
Prior 4 14
Revolving and Other Loans 0 0
Total 19 47
Commercial | Commercial leases | Substandard    
Financing Receivable, Modifications    
Year One 0 20
Year Two 11 14
Year Three 12 1
Year Four 4 5
Year Five 3 5
Prior 26 30
Revolving and Other Loans 0 0
Total 56 75
Commercial | Commercial leases | Doubtful    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Total $ 0 $ 0
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Gross Charge-Offs Within the Commercial Portfolio Segments, by Class and Vintage (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Modifications      
Total $ 686 $ 522 $ 362
Commercial      
Financing Receivable, Modifications      
Year One 1 25  
Year Two 7 7  
Year Three 17 12  
Year Four 1 1  
Year Five 1 0  
Prior 2 11  
Revolving Loans 238 114  
Total 267 170 $ 131
Commercial | Commercial and industrial loans      
Financing Receivable, Modifications      
Year One 1 25  
Year Two 6 7  
Year Three 17 12  
Year Four 1 1  
Year Five 1 0  
Prior 0 11  
Revolving Loans 238 112  
Total 264 168  
Commercial | Commercial mortgage owner-occupied loans:      
Financing Receivable, Modifications      
Year One 0 0  
Year Two 1 0  
Year Three 0 0  
Year Four 0 0  
Year Five 0 0  
Prior 0 0  
Revolving Loans 0 1  
Total 1 1  
Commercial | Commercial construction loans      
Financing Receivable, Modifications      
Year One 0 0  
Year Two 0 0  
Year Three 0 0  
Year Four 0 0  
Year Five 0 0  
Prior 0 0  
Revolving Loans 0 1  
Total 0 1  
Commercial | Commercial leases      
Financing Receivable, Modifications      
Year One 0 0  
Year Two 0 0  
Year Three 0 0  
Year Four 0 0  
Year Five 0 0  
Prior 2 0  
Revolving Loans 0 0  
Total $ 2 $ 0  
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Recorded Investment in Portfolio Loans and Leases by Age and Class (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases $ 119,791 $ 117,234
Commercial    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 73,293 72,746
90 Days Past Due and Still Accruing 6 8
Commercial | Current    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 73,047 72,547
Commercial | Total Past Due      
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 246 199
Commercial | 30-89 Days    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 155 93
Commercial | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 91 106
Commercial | Commercial and industrial loans    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 52,271 53,270
90 Days Past Due and Still Accruing 5 8
Commercial | Commercial and industrial loans | Current    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 52,098 53,107
Commercial | Commercial and industrial loans | Total Past Due      
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 173 163
Commercial | Commercial and industrial loans | 30-89 Days    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 90 61
Commercial | Commercial and industrial loans | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 83 102
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 6,023 5,200
90 Days Past Due and Still Accruing 0 0
Commercial | Commercial mortgage owner-occupied loans: | Current    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 5,980 5,196
Commercial | Commercial mortgage owner-occupied loans: | Total Past Due      
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 43 4
Commercial | Commercial mortgage owner-occupied loans: | 30-89 Days    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 40 1
Commercial | Commercial mortgage owner-occupied loans: | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 3 3
Commercial | Commercial mortgage nonowner-occupied loans:    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 6,223 6,076
90 Days Past Due and Still Accruing 0 0
Commercial | Commercial mortgage nonowner-occupied loans: | Current    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 6,215 6,061
Commercial | Commercial mortgage nonowner-occupied loans: | Total Past Due      
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 8 15
Commercial | Commercial mortgage nonowner-occupied loans: | 30-89 Days    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 6 14
Commercial | Commercial mortgage nonowner-occupied loans: | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 2 1
Commercial | Commercial construction loans    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 5,588 5,621
90 Days Past Due and Still Accruing 0 0
Commercial | Commercial construction loans | Current    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 5,587 5,621
Commercial | Commercial construction loans | Total Past Due      
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 1 0
Commercial | Commercial construction loans | 30-89 Days    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 1 0
Commercial | Commercial construction loans | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 0 0
Commercial | Commercial leases    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 3,188 2,579
90 Days Past Due and Still Accruing 1 0
Commercial | Commercial leases | Current    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 3,167 2,562
Commercial | Commercial leases | Total Past Due      
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 21 17
Commercial | Commercial leases | 30-89 Days    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases 18 17
Commercial | Commercial leases | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Loans and Leases $ 3 $ 0
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Credit Risk Profile of the Bancorp's Residential Mortgage and Consumer Portfolio Segments by Class (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications    
Total $ 119,791 $ 117,234
Residential Mortgage    
Financing Receivable, Modifications    
Loans measured at FV 108 116
Residential Mortgage | Federal Housing Administration Loan    
Financing Receivable, Modifications    
Losses due to claim denials and curtailments 1 2
Residential Mortgage | 30-89 days past due    
Financing Receivable, Modifications    
Loans measured at FV 1 1
Residential Mortgage | 30-89 days past due | Federal Housing Administration Loan    
Financing Receivable, Modifications    
Total 90 79
Residential Mortgage | 90 days or more past due    
Financing Receivable, Modifications    
Loans measured at FV 1  
Residential Mortgage | 90 days or more past due | Federal Housing Administration Loan    
Financing Receivable, Modifications    
Total 162 141
Residential Mortgage | Nonperforming    
Financing Receivable, Modifications    
Loans measured at FV 2 2
Residential Mortgage | Residential mortgage loans    
Financing Receivable, Modifications    
Year One 1,963 995
Year Two 1,003 3,149
Year Three 2,975 5,014
Year Four 4,629 2,714
Year Five 2,503 949
Prior 4,362 4,089
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 17,435 16,910
Residential Mortgage | Residential mortgage loans | Performing | Current    
Financing Receivable, Modifications    
Year One 1,961 995
Year Two 998 3,139
Year Three 2,961 5,001
Year Four 4,606 2,703
Year Five 2,491 943
Prior 4,245 3,971
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 17,262 16,752
Residential Mortgage | Residential mortgage loans | Performing | 30-89 days past due    
Financing Receivable, Modifications    
Year One 1 0
Year Two 3 3
Year Three 4 6
Year Four 9 5
Year Five 4 1
Prior 12 14
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 33 29
Residential Mortgage | Residential mortgage loans | Performing | 90 days or more past due    
Financing Receivable, Modifications    
Year One 1 0
Year Two 0 1
Year Three 1 1
Year Four 1 1
Year Five 0 1
Prior 2 3
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 5 7
Residential Mortgage | Residential mortgage loans | Nonperforming    
Financing Receivable, Modifications    
Year One 0 0
Year Two 2 6
Year Three 9 6
Year Four 13 5
Year Five 8 4
Prior 103 101
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 135 122
Consumer    
Financing Receivable, Modifications    
Total 46,498 44,488
Consumer | Residential mortgage loans    
Financing Receivable, Modifications    
Total 17,543 17,026
Consumer | Home equity    
Financing Receivable, Modifications    
Year One 168 84
Year Two 67 41
Year Three 35 2
Year Four 2 6
Year Five 4 11
Prior 94 100
Revolving and Other Loans 3,739 3,624
Revolving Loans Converted to Term Loans 79 48
Total 4,188 3,916
Consumer | Home equity | Performing | Current    
Financing Receivable, Modifications    
Year One 168 84
Year Two 67 41
Year Three 34 2
Year Four 2 6
Year Five 4 11
Prior 86 92
Revolving and Other Loans 3,660 3,549
Revolving Loans Converted to Term Loans 72 46
Total 4,093 3,831
Consumer | Home equity | Performing | 30-89 days past due    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 1 2
Revolving and Other Loans 23 25
Revolving Loans Converted to Term Loans 1 1
Total 25 28
Consumer | Home equity | Performing | 90 days or more past due    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 0 0
Consumer | Home equity | Nonperforming    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 1 0
Year Four 0 0
Year Five 0 0
Prior 7 6
Revolving and Other Loans 56 50
Revolving Loans Converted to Term Loans 6 1
Total 70 57
Consumer | Indirect secured consumer loans    
Financing Receivable, Modifications    
Year One 6,796 4,152
Year Two 2,873 4,393
Year Three 3,104 3,974
Year Four 2,411 1,552
Year Five 769 612
Prior 360 282
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 16,313 14,965
Consumer | Indirect secured consumer loans | Performing | Current    
Financing Receivable, Modifications    
Year One 6,773 4,126
Year Two 2,836 4,333
Year Three 3,046 3,925
Year Four 2,371 1,527
Year Five 753 597
Prior 349 271
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 16,128 14,779
Consumer | Indirect secured consumer loans | Performing | 30-89 days past due    
Financing Receivable, Modifications    
Year One 19 22
Year Two 27 49
Year Three 39 40
Year Four 27 19
Year Five 11 12
Prior 7 8
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 130 150
Consumer | Indirect secured consumer loans | Performing | 90 days or more past due    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 0 0
Consumer | Indirect secured consumer loans | Nonperforming    
Financing Receivable, Modifications    
Year One 4 4
Year Two 10 11
Year Three 19 9
Year Four 13 6
Year Five 5 3
Prior 4 3
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 55 36
Consumer | Credit card    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 1,734 1,865
Revolving Loans Converted to Term Loans 0 0
Total 1,734 1,865
Consumer | Credit card | Performing | Current    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 1,664 1,789
Revolving Loans Converted to Term Loans 0 0
Total 1,664 1,789
Consumer | Credit card | Performing | 30-89 days past due    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 18 21
Revolving Loans Converted to Term Loans 0 0
Total 18 21
Consumer | Credit card | Performing | 90 days or more past due    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 20 21
Revolving Loans Converted to Term Loans 0 0
Total 20 21
Consumer | Credit card | Nonperforming    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 32 34
Revolving Loans Converted to Term Loans 0 0
Total 32 34
Consumer | Solar energy installation loans    
Financing Receivable, Modifications    
Year One 897 2,456
Year Two 2,140 1,228
Year Three 1,129 2
Year Four 2 0
Year Five 0 0
Prior 34 42
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 4,202 3,728
Consumer | Solar energy installation loans | Performing | Current    
Financing Receivable, Modifications    
Year One 894 2,415
Year Two 2,095 1,192
Year Three 1,094 2
Year Four 2 0
Year Five 0 0
Prior 33 41
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 4,118 3,650
Consumer | Solar energy installation loans | Performing | 30-89 days past due    
Financing Receivable, Modifications    
Year One 2 12
Year Two 11 6
Year Three 7 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 20 18
Consumer | Solar energy installation loans | Performing | 90 days or more past due    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 0 0
Consumer | Solar energy installation loans | Nonperforming    
Financing Receivable, Modifications    
Year One 1 29
Year Two 34 30
Year Three 28 0
Year Four 0 0
Year Five 0 0
Prior 1 1
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 64 60
Consumer | Other consumer loans    
Financing Receivable, Modifications    
Year One 202 518
Year Two 358 724
Year Three 521 333
Year Four 223 249
Year Five 172 104
Prior 145 156
Revolving and Other Loans 861 861
Revolving Loans Converted to Term Loans 36 43
Total 2,518 2,988
Consumer | Other consumer loans | Performing | Current    
Financing Receivable, Modifications    
Year One 201 511
Year Two 351 703
Year Three 507 328
Year Four 219 246
Year Five 171 101
Prior 142 154
Revolving and Other Loans 860 859
Revolving Loans Converted to Term Loans 34 41
Total 2,485 2,943
Consumer | Other consumer loans | Performing | 30-89 days past due    
Financing Receivable, Modifications    
Year One 1 5
Year Two 5 15
Year Three 10 4
Year Four 3 2
Year Five 1 2
Prior 2 2
Revolving and Other Loans 1 2
Revolving Loans Converted to Term Loans 1 1
Total 24 33
Consumer | Other consumer loans | Performing | 90 days or more past due    
Financing Receivable, Modifications    
Year One 0 0
Year Two 0 0
Year Three 0 0
Year Four 0 0
Year Five 0 0
Prior 0 0
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 0 0
Total 0 0
Consumer | Other consumer loans | Nonperforming    
Financing Receivable, Modifications    
Year One 0 2
Year Two 2 6
Year Three 4 1
Year Four 1 1
Year Five 0 1
Prior 1 0
Revolving and Other Loans 0 0
Revolving Loans Converted to Term Loans 1 1
Total 9 12
Residential Mortgage and Consumer    
Financing Receivable, Modifications    
Year One 10,026 8,205
Year Two 6,441 9,535
Year Three 7,764 9,325
Year Four 7,267 4,521
Year Five 3,448 1,676
Prior 4,995 4,669
Revolving and Other Loans 6,334 6,350
Revolving Loans Converted to Term Loans 115 91
Total 46,390 44,372
Residential Mortgage and Consumer | Performing | Current    
Financing Receivable, Modifications    
Year One 9,997 8,131
Year Two 6,347 9,408
Year Three 7,642 9,258
Year Four 7,200 4,482
Year Five 3,419 1,652
Prior 4,855 4,529
Revolving and Other Loans 6,184 6,197
Revolving Loans Converted to Term Loans 106 87
Total 45,750 43,744
Residential Mortgage and Consumer | Performing | 30-89 days past due    
Financing Receivable, Modifications    
Year One 23 39
Year Two 46 73
Year Three 60 50
Year Four 39 26
Year Five 16 15
Prior 22 26
Revolving and Other Loans 42 48
Revolving Loans Converted to Term Loans 2 2
Total 250 279
Residential Mortgage and Consumer | Performing | 90 days or more past due    
Financing Receivable, Modifications    
Year One 1 0
Year Two 0 1
Year Three 1 1
Year Four 1 1
Year Five 0 1
Prior 2 3
Revolving and Other Loans 20 21
Revolving Loans Converted to Term Loans 0 0
Total 25 28
Residential Mortgage and Consumer | Nonperforming    
Financing Receivable, Modifications    
Year One 5 35
Year Two 48 53
Year Three 61 16
Year Four 27 12
Year Five 13 8
Prior 116 111
Revolving and Other Loans 88 84
Revolving Loans Converted to Term Loans 7 2
Total $ 365 $ 321
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Gross Charge-Offs Within the Residential Mortgage and Consumer Portfolio Segments, by Class and Vintage (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Modifications      
Total $ 686 $ 522 $ 362
Residential Mortgage      
Financing Receivable, Modifications      
Year One 0 0  
Year Two 0 0  
Year Three 0 0  
Year Four 0 0  
Year Five 0 0  
Prior 2 4  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 2 4 3
Consumer      
Financing Receivable, Modifications      
Total 417 348 $ 228
Consumer | Home equity      
Financing Receivable, Modifications      
Year One 0 0  
Year Two 0 0  
Year Three 0 0  
Year Four 0 0  
Year Five 0 0  
Prior 1 1  
Revolving Loans 5 7  
Revolving Loans Converted to Term Loans 0 0  
Total 6 8  
Consumer | Indirect secured consumer loans      
Financing Receivable, Modifications      
Year One 7 9  
Year Two 35 42  
Year Three 53 27  
Year Four 25 14  
Year Five 9 10  
Prior 10 8  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 139 110  
Consumer | Credit card      
Financing Receivable, Modifications      
Year One 0 0  
Year Two 0 0  
Year Three 0 0  
Year Four 0 0  
Year Five 0 0  
Prior 0 0  
Revolving Loans 87 82  
Revolving Loans Converted to Term Loans 0 0  
Total 87 82  
Consumer | Solar energy installation loans      
Financing Receivable, Modifications      
Year One 2 8  
Year Two 16 16  
Year Three 13 1  
Year Four 0 0  
Year Five 14 0  
Prior 18 2  
Revolving Loans 0 0  
Revolving Loans Converted to Term Loans 0 0  
Total 63 27  
Consumer | Other consumer loans      
Financing Receivable, Modifications      
Year One 1 7  
Year Two 12 37  
Year Three 24 14  
Year Four 12 12  
Year Five 20 7  
Prior 16 8  
Revolving Loans 34 34  
Revolving Loans Converted to Term Loans 3 2  
Total 122 121  
Consumer and residential mortgage loans      
Financing Receivable, Modifications      
Year One 10 24  
Year Two 63 95  
Year Three 90 42  
Year Four 37 26  
Year Five 43 17  
Prior 47 23  
Revolving Loans 126 123  
Revolving Loans Converted to Term Loans 3 2  
Total $ 419 $ 352  
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Amortized Cost Basis of the Bancorp's Collateral Dependent Loans (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Impaired    
Total portfolio loans and leases $ 622 $ 474
Commercial    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 395 279
Commercial | Commercial and industrial loans    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 325 268
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 63 8
Commercial | Commercial mortgage nonowner-occupied loans:    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 4 2
Commercial | Commercial construction loans    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 1 1
Commercial | Commercial leases    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 2 0
Residential Mortgage    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 131 126
Consumer    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 96 69
Consumer | Home equity    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis 66 54
Consumer | Indirect secured consumer loans    
Financing Receivable, Impaired    
Loans and leases receivable, allowance for amortized cost basis $ 30 $ 15
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of the Bancorp's Nonaccrual Loans and Leases by Class (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications    
With an ALLL $ 550 $ 469
No Related ALLL 303 219
Total 853 688
Loans and leases held for sale 640 378
Financing receivable, excluding accrued interest, modified in period, amount 552 615
Nonperforming    
Financing Receivable, Modifications    
Loans and leases held for sale 7 1
Nonperforming | Government Insured    
Financing Receivable, Modifications    
Total 18 19
Commercial    
Financing Receivable, Modifications    
With an ALLL 319 284
No Related ALLL 137 42
Total 456 326
Financing receivable, excluding accrued interest, modified in period, amount 424 453
Commercial | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 33 31
Commercial | Commercial and industrial loans    
Financing Receivable, Modifications    
With an ALLL 265 273
No Related ALLL 109 31
Total 374 304
Loans and leases held for sale 15 41
Financing receivable, excluding accrued interest, modified in period, amount 232 245
Commercial | Commercial and industrial loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 19 31
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Modifications    
With an ALLL 52 11
No Related ALLL 23 6
Total 75 17
Financing receivable, excluding accrued interest, modified in period, amount 61 27
Commercial | Commercial mortgage owner-occupied loans: | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 14 0
Commercial | Commercial mortgage nonowner-occupied loans:    
Financing Receivable, Modifications    
With an ALLL 0 0
No Related ALLL 4 3
Total 4 3
Financing receivable, excluding accrued interest, modified in period, amount 72 68
Commercial | Commercial mortgage nonowner-occupied loans: | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Commercial | Commercial construction loans    
Financing Receivable, Modifications    
With an ALLL 0 0
No Related ALLL 1 1
Total 1 1
Loans and leases held for sale 29 0
Financing receivable, excluding accrued interest, modified in period, amount 59 113
Commercial | Commercial construction loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Commercial | Commercial leases    
Financing Receivable, Modifications    
With an ALLL 2 0
No Related ALLL 0 1
Total 2 1
Loans and leases held for sale 0 3
Residential Mortgage    
Financing Receivable, Modifications    
With an ALLL 57 26
No Related ALLL 80 98
Total 137 124
Financing receivable, excluding accrued interest, modified in period, amount 89 113
Residential Mortgage | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 72 91
Consumer    
Financing Receivable, Modifications    
With an ALLL 174 159
No Related ALLL 56 40
Total 230 199
Financing receivable, excluding accrued interest, modified in period, amount 39 49
Consumer | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 2 2
Consumer | Home equity    
Financing Receivable, Modifications    
With an ALLL 21 21
No Related ALLL 49 36
Total 70 57
Financing receivable, excluding accrued interest, modified in period, amount 15 16
Consumer | Home equity | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 2 2
Consumer | Indirect secured consumer loans    
Financing Receivable, Modifications    
With an ALLL 48 32
No Related ALLL 7 4
Total 55 36
Consumer | Credit card    
Financing Receivable, Modifications    
With an ALLL 32 34
No Related ALLL 0 0
Total 32 34
Financing receivable, excluding accrued interest, modified in period, amount 20 27
Consumer | Credit card | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Solar energy installation loans    
Financing Receivable, Modifications    
With an ALLL 64 60
No Related ALLL 0 0
Total 64 60
Financing receivable, excluding accrued interest, modified in period, amount 1 1
Consumer | Solar energy installation loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Other consumer loans    
Financing Receivable, Modifications    
With an ALLL 9 12
No Related ALLL 0 0
Total 9 12
Financing receivable, excluding accrued interest, modified in period, amount 3 5
Consumer | Other consumer loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Nonaccrual Portfolio Loans and Leases    
Financing Receivable, Modifications    
With an ALLL 550 469
No Related ALLL 273 180
Total 823 649
OREO and Other Repossessed Assets    
Financing Receivable, Modifications    
With an ALLL 0 0
No Related ALLL 30 39
Total $ 30 $ 39
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Mortgage loans in process of foreclosure amount $ 94 $ 107
Financing receivable, excluding accrued interest, modified in period, amount $ 552 $ 615
Loan modification program, percentage of modifications to total portfolio 0.46% 0.52%
Loan modification program, loans excluded from modification program $ 52 $ 29
Unfunded commitment amounts 88 130
Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing receivable, excluding accrued interest, modified in period, amount $ 424 $ 453
Loan modification program, percentage of modifications to total portfolio 0.60% 0.62%
Residential Mortgage    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing receivable, excluding accrued interest, modified in period, amount $ 89 $ 113
Loan modification program, percentage of modifications to total portfolio 0.51% 0.66%
Modification program option, mortgage term 480 months  
Modification program option, in-process modifications $ 5 $ 3
Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing receivable, excluding accrued interest, modified in period, amount $ 39 $ 49
Loan modification program, percentage of modifications to total portfolio 0.13% 0.18%
Consumer | Home equity    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing receivable, excluding accrued interest, modified in period, amount $ 15 $ 16
Loan modification program, percentage of modifications to total portfolio 0.36% 0.41%
Modification program option, mortgage term 360 months  
Minimum | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term extension period 3 months  
Minimum | Residential Mortgage    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Modification program option, trial period 6 months  
Modification program option, mortgage interest payment deferral, term 3 months  
Maximum | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Term extension period 12 months  
Maximum | Residential Mortgage    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Modification program option, trial period 12 months  
Modification program option, mortgage interest payment deferral, term 4 months  
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Amortized Cost Basis of Loans Modified for Borrowers Experiencing Financial Difficulty (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 552 $ 615
% of Total Class 0.46% 0.52%
Commercial    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 424 $ 453
% of Total Class 0.60% 0.62%
Commercial | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 58 $ 56
Commercial | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 33 31
Commercial | Term Extension    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 331 361
Commercial | Other    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 2 5
Commercial | Commercial and industrial loans    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 232 $ 245
% of Total Class 0.44% 0.46%
Commercial | Commercial and industrial loans | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 57 $ 56
Commercial | Commercial and industrial loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 19 31
Commercial | Commercial and industrial loans | Term Extension    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 155 155
Commercial | Commercial and industrial loans | Other    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 1 3
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 61 $ 27
% of Total Class 1.01% 0.52%
Commercial | Commercial mortgage owner-occupied loans: | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 1 $ 0
Commercial | Commercial mortgage owner-occupied loans: | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 14 0
Commercial | Commercial mortgage owner-occupied loans: | Term Extension    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 46 27
Commercial | Commercial mortgage owner-occupied loans: | Other    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Commercial | Commercial mortgage nonowner-occupied loans:    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 72 $ 68
% of Total Class 1.16% 1.12%
Commercial | Commercial mortgage nonowner-occupied loans: | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 0 $ 0
Commercial | Commercial mortgage nonowner-occupied loans: | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Commercial | Commercial mortgage nonowner-occupied loans: | Term Extension    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 72 66
Commercial | Commercial mortgage nonowner-occupied loans: | Other    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 2
Commercial | Commercial construction loans    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 59 $ 113
% of Total Class 1.06% 2.01%
Commercial | Commercial construction loans | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 0 $ 0
Commercial | Commercial construction loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Commercial | Commercial construction loans | Term Extension    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 58 113
Commercial | Commercial construction loans | Other    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 1 0
Residential Mortgage    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 89 $ 113
% of Total Class 0.51% 0.66%
Residential Mortgage | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 5 $ 18
% of Total Class 0.03% 0.11%
Residential Mortgage | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 72 $ 91
% of Total Class 0.41% 0.53%
Residential Mortgage | Term extension, interest rate reduction and payment delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 12 $ 4
% of Total Class 0.07% 0.02%
Consumer    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 39 $ 49
% of Total Class 0.13% 0.18%
Consumer | Interest Rate Reduction    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 24 $ 31
Consumer | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 4 7
Consumer | Interest Rate Reduction and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 1
Consumer | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 2 2
Consumer | Term extension, interest rate reduction and payment delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 9 8
Consumer | Home equity    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 15 $ 16
% of Total Class 0.36% 0.41%
Consumer | Home equity | Interest Rate Reduction    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 4 $ 4
Consumer | Home equity | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 1
Consumer | Home equity | Interest Rate Reduction and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 1
Consumer | Home equity | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 2 2
Consumer | Home equity | Term extension, interest rate reduction and payment delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 9 8
Consumer | Credit card    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 20 $ 27
% of Total Class 1.15% 1.45%
Consumer | Credit card | Interest Rate Reduction    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 20 $ 27
Consumer | Credit card | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Credit card | Interest Rate Reduction and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Credit card | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Credit card | Term extension, interest rate reduction and payment delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Solar energy installation loans    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 1 $ 1
% of Total Class 0.02% 0.03%
Consumer | Solar energy installation loans | Interest Rate Reduction    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 0 $ 0
Consumer | Solar energy installation loans | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 1 1
Consumer | Solar energy installation loans | Interest Rate Reduction and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Solar energy installation loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Solar energy installation loans | Term extension, interest rate reduction and payment delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Other consumer loans    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 3 $ 5
% of Total Class 0.12% 0.17%
Consumer | Other consumer loans | Interest Rate Reduction    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 0 $ 0
Consumer | Other consumer loans | Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 3 5
Consumer | Other consumer loans | Interest Rate Reduction and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Other consumer loans | Term Extension and Payment Delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount 0 0
Consumer | Other consumer loans | Term extension, interest rate reduction and payment delay    
Financing Receivable, Modifications    
Financing receivable, excluding accrued interest, modified in period, amount $ 0 $ 0
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Financial Impacts of Loans That Were Modified for Borrowers Experiencing Financial Difficulty (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Commercial | Commercial and industrial loans    
Financing Receivable, Modifications    
Weighted-average length of term extensions 9 months 11 months
Weighted-average length of payment delay 15 months 23 months
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Modifications    
Weighted-average length of term extensions 10 months 15 months
Weighted-average length of payment delay 15 months  
Commercial | Commercial mortgage nonowner-occupied loans:    
Financing Receivable, Modifications    
Weighted-average length of term extensions 20 months 16 months
Commercial | Commercial construction loans    
Financing Receivable, Modifications    
Weighted-average length of term extensions 12 months 12 months
Residential Mortgage    
Financing Receivable, Modifications    
Weighted-average length of term extensions 10 years 4 months 24 days 12 years 10 months 24 days
Financing receivable, modified, payment deferral, percentage of related loan balance 13.00% 17.00%
Consumer | Home equity    
Financing Receivable, Modifications    
Weighted-average length of term extensions 22 years 9 months 18 days 24 years 2 months 12 days
Financing receivable, modified, payment deferral, percentage of related loan balance 5.00% 5.00%
Weighted-average interest rate, before modification 9.20% 8.70%
Weighted-average interest rate, after modification 7.20% 7.00%
Consumer | Credit card    
Financing Receivable, Modifications    
Weighted-average interest rate, before modification 23.90% 23.70%
Weighted-average interest rate, after modification 4.10% 3.90%
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Loans That Were Modified for Borrowers Experiencing Financial Difficulty (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months $ 552 $ 615
Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 462 516
30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 41 31
90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 49 68
Commercial | Commercial and industrial loans    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 232 245
Commercial | Commercial and industrial loans | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 182 184
Commercial | Commercial and industrial loans | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 22 9
Commercial | Commercial and industrial loans | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 28 52
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 61 27
Commercial | Commercial mortgage owner-occupied loans: | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 61 26
Commercial | Commercial mortgage owner-occupied loans: | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Commercial | Commercial mortgage owner-occupied loans: | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 1
Commercial | Commercial mortgage nonowner-occupied loans:    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 72 68
Commercial | Commercial mortgage nonowner-occupied loans: | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 72 68
Commercial | Commercial mortgage nonowner-occupied loans: | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Commercial | Commercial mortgage nonowner-occupied loans: | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Commercial | Commercial construction loans    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 59 113
Commercial | Commercial construction loans | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 59 113
Commercial | Commercial construction loans | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Commercial | Commercial construction loans | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Residential Mortgage    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 89 113
Residential Mortgage | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 56 86
Residential Mortgage | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 15 15
Residential Mortgage | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 18 12
Consumer | Home equity    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 15 16
Consumer | Home equity | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 13 14
Consumer | Home equity | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 1 2
Consumer | Home equity | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 1 0
Consumer | Credit card    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 20 27
Consumer | Credit card | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 15 19
Consumer | Credit card | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 3 5
Consumer | Credit card | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 2 3
Consumer | Solar energy installation loans    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 1 1
Consumer | Solar energy installation loans | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 1 1
Consumer | Solar energy installation loans | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Consumer | Solar energy installation loans | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Consumer | Other consumer loans    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 3 5
Consumer | Other consumer loans | Current    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 3 5
Consumer | Other consumer loans | 30-89 days past due    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months 0 0
Consumer | Other consumer loans | 90 Days or More    
Financing Receivable, Recorded Investment, Past Due    
Financing receivable, excluding accrued interest, modified, after 12 months $ 0 $ 0
v3.25.0.1
Credit Quality and the Allowance for Loan and Lease Losses - Summary of Amortized Cost Basis of Modifications to Borrowers Experiencing Financial Difficulty (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty $ 86 $ 77
Term Extension    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 14 52
Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 10 11
Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 16 2
Term Extension and Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 1 0
Term Extension and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 38 11
Term Extension, Interest Rate Reduction and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 7 1
Commercial | Commercial and industrial loans    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 36 51
Commercial | Commercial and industrial loans | Term Extension    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 14 51
Commercial | Commercial and industrial loans | Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Commercial | Commercial and industrial loans | Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 13 0
Commercial | Commercial and industrial loans | Term Extension and Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 1 0
Commercial | Commercial and industrial loans | Term Extension and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 8 0
Commercial | Commercial and industrial loans | Term Extension, Interest Rate Reduction and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Commercial | Commercial mortgage owner-occupied loans:    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 1
Commercial | Commercial mortgage owner-occupied loans: | Term Extension    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 1
Commercial | Commercial mortgage owner-occupied loans: | Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Commercial | Commercial mortgage owner-occupied loans: | Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Commercial | Commercial mortgage owner-occupied loans: | Term Extension and Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Commercial | Commercial mortgage owner-occupied loans: | Term Extension and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Commercial | Commercial mortgage owner-occupied loans: | Term Extension, Interest Rate Reduction and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Residential Mortgage    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 38 14
Residential Mortgage | Term Extension    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Residential Mortgage | Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Residential Mortgage | Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 3 2
Residential Mortgage | Term Extension and Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Residential Mortgage | Term Extension and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 29 11
Residential Mortgage | Term Extension, Interest Rate Reduction and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 6 1
Consumer | Home equity    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 3 1
Consumer | Home equity | Term Extension    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Consumer | Home equity | Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 1 1
Consumer | Home equity | Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Consumer | Home equity | Term Extension and Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Consumer | Home equity | Term Extension and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 1 0
Consumer | Home equity | Term Extension, Interest Rate Reduction and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 1 0
Consumer | Credit card    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 9 10
Consumer | Credit card | Term Extension    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Consumer | Credit card | Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 9 10
Consumer | Credit card | Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Consumer | Credit card | Term Extension and Interest Rate Reduction    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Consumer | Credit card | Term Extension and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty 0 0
Consumer | Credit card | Term Extension, Interest Rate Reduction and Payment Delay    
Financing Receivable, Allowance for Credit Losses    
Amortized cost basis of the modifications to borrowers experiencing financial difficulty $ 0 $ 0
v3.25.0.1
Bank Premises and Equipment - Summary of Bank Premises and Equipment (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Accumulated depreciation and amortization $ (3,674) $ (3,473)
Total bank premises and equipment 2,475 2,349
Equipment    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 2,769 2,578
Equipment | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life 1 year  
Equipment | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life 20 years  
Buildings    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 1,784 1,742
Buildings | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life 1 year  
Buildings | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life 30 years  
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 760 685
Leasehold improvements | Minimum    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life 1 year  
Leasehold improvements | Maximum    
Property, Plant and Equipment [Line Items]    
Estimated Useful Life 30 years  
Land and and improvements    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross $ 623 618
Construction in progress    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 199 180
Land and improvements held for sale    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 10 15
Buildings held for sale    
Property, Plant and Equipment [Line Items]    
Property and equipment, gross 4 4
Other property    
Property, Plant and Equipment [Line Items]    
Land improvements $ 1 $ 9
v3.25.0.1
Bank Premises and Equipment - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
banking_location
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Property, Plant and Equipment [Line Items]      
Depreciation and amortization expense $ 306 $ 292 $ 273
Impairment losses on bank premises $ 1 2 $ 9
Closed In 2024      
Property, Plant and Equipment [Line Items]      
Number of branches held for sale | banking_location 32    
Land and improvements held for sale      
Property, Plant and Equipment [Line Items]      
Impairment losses on bank premises   $ 8  
v3.25.0.1
Operating Lease Equipment - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating lease equipment $ 319 $ 459  
Accumulated depreciation 333 355  
Operating lease income $ 100 $ 135 $ 146
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Commercial banking revenue Commercial banking revenue Commercial banking revenue
Depreciation expense $ 81 $ 110 $ 121
Operating lease payments received 101 140 147
Impairment losses of operating lease equipment $ 0 $ 0 $ 2
v3.25.0.1
Operating Lease Equipment - Future Lease Payments Receivable (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Leases [Abstract]  
2025 $ 73
2026 47
2027 25
2028 11
2029 6
Thereafter 9
Total operating lease payments $ 171
v3.25.0.1
Lease Obligations - Lessee - Lease Assets and Lease Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating lease ROU assets $ 526 $ 511
Finance lease ROU assets 146 126
Total right-of-use assets 672 637
Operating lease liabilities 606 601
Finance lease liabilities 161 134
Total lease liabilities 767 735
Operating lease right of use asset, accumulated amortization 328 292
Finance lease right of use asset, accumulated amortization $ 54 $ 77
Operating lease right-of-use assets [Extensible List] Other assets Other assets
Finance lease, right-of-use assets [Extensible List] Bank premises and equipment Bank premises and equipment
Operating lease liabilities [Extensible List] Accrued Liabilities [Member] Accrued Liabilities [Member]
Finance lease liabilities [Extensible List] Long-term debt Long-term debt
v3.25.0.1
Lease Obligations - Lessee - Lease Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Lease Cost [Line Items]      
Total finance lease costs $ 27 $ 24 $ 24
Total operating lease costs 117 116 110
Total lease costs 144 140 134
Impairment losses and termination charges 1 2 2
Net occupancy and equipment expense      
Lease Cost [Line Items]      
  Amortization of ROU assets 21 19 19
Interest on long-term debt      
Lease Cost [Line Items]      
Interest on lease liabilities 6 5 5
Net occupancy expense      
Lease Cost [Line Items]      
Operating lease cost 89 87 84
Short-term lease cost 1 2 1
Variable lease cost 30 29 28
Sublease income $ (3) (2) (3)
Impairment losses and termination charges   $ 2 $ 2
v3.25.0.1
Lease Obligations - Lessee - Undiscounted Cash Flows (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Operating Leases    
2025 $ 92  
2026 86  
2027 78  
2028 70  
2029 60  
Thereafter 397  
Total undiscounted cash flows 783  
Less: Difference between undiscounted cash flows and discounted cash flows 177  
Present value of lease liabilities 606 $ 601
Finance Leases    
2025 22  
2026 22  
2027 21  
2028 21  
2029 11  
Thereafter 104  
Total undiscounted cash flows 201  
Less: Difference between undiscounted cash flows and discounted cash flows 40  
Present value of lease liabilities 161 $ 134
Total    
2025 114  
2026 108  
2027 99  
2028 91  
2029 71  
Thereafter 501  
Total undiscounted cash flows 984  
Less: Difference between undiscounted cash flows and discounted cash flows 217  
Present value of lease liabilities $ 767  
v3.25.0.1
Lease Obligations - Lessee - Other Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating leases, weighted average remaining lease term 11 years 6 months 25 days 11 years 25 days  
Finance leases, weighted average remaining lease term 12 years 7 months 28 days 15 years 2 months 15 days  
Operating leases, weighted average discount rate 4.08% 3.72%  
Finance leases, weighted average discount rate 3.80% 3.02%  
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases $ 95 $ 91 $ 90
Operating cash flows from finance leases 6 5 5
Financing cash flows from finance leases 18 16 23
Gains on sale-leaseback transactions $ 0 $ 2 $ 4
v3.25.0.1
Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill      
Goodwill     $ 5,880
Accumulated impairment losses     (965)
Goodwill [Roll Forward]      
Net carrying value, beginning of period $ 4,919 $ 4,915  
Acquisition activity   4  
Sale of business (1)    
Net carrying value, end of period 4,918 4,919  
General Corporate and Other      
Goodwill      
Goodwill     0
Accumulated impairment losses     0
Goodwill [Roll Forward]      
Net carrying value, beginning of period 0 0  
Acquisition activity   0  
Sale of business 0    
Net carrying value, end of period 0 0  
Commercial Banking | Operating Segments      
Goodwill      
Goodwill     3,074
Accumulated impairment losses     (750)
Goodwill [Roll Forward]      
Net carrying value, beginning of period 2,324 2,324  
Acquisition activity   0  
Sale of business 0    
Net carrying value, end of period 2,324 2,324  
Consumer and Small Business Banking | Operating Segments      
Goodwill      
Goodwill     2,580
Accumulated impairment losses     (215)
Goodwill [Roll Forward]      
Net carrying value, beginning of period 2,369 2,365  
Acquisition activity   4  
Sale of business 0    
Net carrying value, end of period 2,369 2,369  
Wealth and Asset Management | Operating Segments      
Goodwill      
Goodwill     226
Accumulated impairment losses     $ 0
Goodwill [Roll Forward]      
Net carrying value, beginning of period 226 226  
Acquisition activity   0  
Sale of business (1)    
Net carrying value, end of period $ 225 $ 226  
v3.25.0.1
Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets    
Gross Carrying Amount $ 353 $ 361
Accumulated Amortization (263) (236)
Net Carrying Amount 90 125
Total intangible assets 90 125
Core deposit intangibles    
Finite-Lived Intangible Assets    
Gross Carrying Amount 206 209
Accumulated Amortization (196) (184)
Net Carrying Amount 10 25
Developed technology    
Finite-Lived Intangible Assets    
Gross Carrying Amount 106 106
Accumulated Amortization (50) (33)
Net Carrying Amount 56 73
Customer relationships    
Finite-Lived Intangible Assets    
Gross Carrying Amount 28 30
Accumulated Amortization (9) (10)
Net Carrying Amount 19 20
Other    
Finite-Lived Intangible Assets    
Gross Carrying Amount 13 16
Accumulated Amortization (8) (9)
Net Carrying Amount $ 5 $ 7
v3.25.0.1
Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]      
Amortization expense $ 35 $ 43 $ 48
v3.25.0.1
Intangible Assets - Estimated Amortization Expense (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
2025 $ 28
2026 22
2027 14
2028 9
2029 $ 6
v3.25.0.1
Variable Interest Entities - Classifications of Consolidated VIE Assets, Liabilities and Noncontrolling Interest Included in the Bancorp's Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets        
Other short-term investments [1] $ 17,120 $ 22,082    
ALLL (2,352) [1] (2,322) [1] $ (2,194) $ (1,892)
Other assets [1] 12,857 12,538    
Total Assets 212,927 214,574    
Liabilities        
Other liabilities [1] 4,902 4,861    
Long-term debt [1] 14,337 16,380    
Total Liabilities 193,282 195,402    
Variable Interest Entity, Primary Beneficiary | Automobile And Solar Loan        
Assets        
Other short-term investments 51 55    
Indirect secured consumer loans 967 1,535    
Solar energy installation loans 33 38    
ALLL (19) (28)    
Other assets 5 10    
Total Assets 1,037 1,610    
Liabilities        
Other liabilities 12 14    
Long-term debt 889 1,409    
Total Liabilities $ 901 $ 1,423    
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Variable Interest Entities - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
investment
Dec. 31, 2023
USD ($)
Aug. 31, 2023
USD ($)
Secured Debt [Member]      
Variable Interest Entity      
Principal amount     $ 79
LLCs designed for the purpose of purchasing pools of residual interests in leases      
Variable Interest Entity      
Number of co-investments | investment 3    
Ownership percentage 50.00%    
Variable Interest Entity, Not Primary Beneficiary | Loans provided to VIEs      
Variable Interest Entity      
Unfunded commitment amounts $ 2,800 $ 2,100  
Variable Interest Entity, Not Primary Beneficiary | CDC investments      
Variable Interest Entity      
CDC investments 2,000 1,600  
Unfunded commitments in qualifying LIHTC investments $ 741 684  
Variable Interest Entity, Not Primary Beneficiary | CDC investments | Maximum      
Variable Interest Entity      
Unfunded commitments, year expected to be funded 2041    
Variable Interest Entity, Not Primary Beneficiary | CDC investments | Minimum      
Variable Interest Entity      
Unfunded commitments, year expected to be funded 2025    
Variable Interest Entity, Not Primary Beneficiary | Private equity investments      
Variable Interest Entity      
Unfunded commitment amounts $ 219 170  
Capital contribution to private equity investments $ 49 $ 47  
Variable Interest Entity, Primary Beneficiary | Secured Debt [Member]      
Variable Interest Entity      
Principal amount     1,580
Variable Interest Entity, Primary Beneficiary | Automobile Loans      
Variable Interest Entity      
Indirect secured consumer loans     $ 1,740
v3.25.0.1
Variable Interest Entities - Assets and Liabilities Related to Non-consolidated VIEs and Maximum Exposure to Losses (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Variable Interest Entity    
Total Assets $ 212,927 $ 214,574
Total Liabilities 193,282 195,402
Variable Interest Entity, Not Primary Beneficiary | CDC investments    
Variable Interest Entity    
Total Assets 2,179 2,007
Total Liabilities 741 690
Maximum Exposure 2,224 2,054
Variable Interest Entity, Not Primary Beneficiary | Private equity investments    
Variable Interest Entity    
Total Assets 268 230
Total Liabilities 0 0
Maximum Exposure 487 400
Variable Interest Entity, Not Primary Beneficiary | Loans provided to VIEs    
Variable Interest Entity    
Total Assets 4,711 4,274
Total Liabilities 0 0
Maximum Exposure 7,529 6,395
Variable Interest Entity, Not Primary Beneficiary | Lease pool entities    
Variable Interest Entity    
Total Assets 30 42
Total Liabilities 0 0
Maximum Exposure 30 42
Variable Interest Entity, Not Primary Beneficiary | Solar loan securitizations    
Variable Interest Entity    
Total Assets 8 9
Total Liabilities 0 0
Maximum Exposure $ 8 $ 9
v3.25.0.1
Variable Interest Entities - Investments in Qualified Affordable Housing Tax Credits (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Proportional amortization $ 200,000,000 $ 200,000,000 $ 189,000,000
Tax credits and other benefits(b) (248,000,000) (230,000,000) (219,000,000)
Changes in carrying amount of equity method investments $ 8,000,000 $ 0 $ 0
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] Applicable income tax expense Applicable income tax expense Applicable income tax expense
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration] Applicable income tax expense Applicable income tax expense Applicable income tax expense
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration] Increase (Decrease) in Other Operating Assets Increase (Decrease) in Other Operating Assets Increase (Decrease) in Other Operating Assets
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration] Increase (Decrease) in Other Operating Assets Increase (Decrease) in Other Operating Assets Increase (Decrease) in Other Operating Assets
Impairment losses $ 0 $ 0 $ 0
v3.25.0.1
Sales of Receivables and Servicing Rights - Activity Related to Mortgage Banking Net Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Transfers and Servicing [Abstract]      
Contractually Specified Servicing Fee Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Fees and Commissions, Mortgage Banking and Servicing Fees and Commissions, Mortgage Banking and Servicing Fees and Commissions, Mortgage Banking and Servicing
Residential mortgage loan sales $ 3,954 $ 4,888 $ 13,307
Origination fees and gains on loan sales 67 79 91
Gross mortgage servicing fees $ 309 $ 319 $ 310
v3.25.0.1
Sales of Receivables and Servicing Rights - Changes in the Servicing Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Servicing Asset at Fair Value, Amount [Roll Forward]      
Balance, beginning of period $ 1,737 $ 1,746  
Servicing rights originated 49 71  
Servicing rights purchased 0 25  
Servicing rights sold (5) 0  
Changes in fair value:      
Changes in fair value due to changes in inputs or assumptions 74 43 $ 355
Changes in fair value due to other changes in fair value (151) (148)  
Balance, end of period $ 1,704 $ 1,737 $ 1,746
Servicing Asset, Fair Value, Change in Fair Value, Other, Statement of Income or Comprehensive Income [Extensible Enumeration] Fees and Commissions, Mortgage Banking and Servicing Fees and Commissions, Mortgage Banking and Servicing  
v3.25.0.1
Sales of Receivables and Servicing Rights - Activity Related to the MSR Portfolio (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Transfers and Servicing [Abstract]      
Securities (losses) gains, net - non-qualifying hedges on mortgage servicing rights $ 0 $ 0 $ (2)
Changes in fair value and settlement of free-standing derivatives purchased to economically hedge the MSR portfolio (88) (43) (363)
MSR fair value adjustments due to changes in inputs or assumptions $ 74 $ 43 $ 355
v3.25.0.1
Sales of Receivables and Servicing Rights - Servicing Rights and Residual Interests Economic Assumptions (Details) - bps
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fixed-rate    
Schedule of Servicing Assets at Amortized Value    
Weighted- Average Life (in years) 6 years 7 months 6 days 6 years 7 months 6 days
Prepayment Speed (annual) (as a percent) 12.70% 12.40%
OAS (bps) 0.0488 0.0596
Adjustable-rate    
Schedule of Servicing Assets at Amortized Value    
Weighted- Average Life (in years)   3 years
Prepayment Speed (annual) (as a percent) 0.00% 27.90%
OAS (bps) 0 0.0774
v3.25.0.1
Sales of Receivables and Servicing Rights - Additional Information (Details)
$ in Billions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Transfers and Servicing [Abstract]    
Servicing of residential mortgage loans for other investors $ 94.2 $ 100.8
Weighted-average coupon of the MSR portfolio (as a percent) 0.0379 0.0372
v3.25.0.1
Sales of Receivables and Servicing Rights - Sensitivity of the Current Fair Value of Residual Cash Flows to Immediate 10%, 20% and 50% Adverse Changes in Assumptions (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
bps
Fixed-rate  
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption  
Fair Value $ 1,701
Weighted- Average Life (in years) 8 years 7 months 6 days
Prepayment Speed Assumption, Rate (as a percent) 5.80%
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 10% $ (37)
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 20% (72)
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 50% $ (168)
OAS (bps) | bps 0.0459
OAS Spread Assumption, Impact of Adverse Change on Fair Value 10% $ (35)
OAS Spread Assumption, Impact of Adverse Change on Fair Value 20% (69)
Adjustable-rate  
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption  
Fair Value $ 3
Weighted- Average Life (in years) 5 years 1 month 6 days
Prepayment Speed Assumption, Rate (as a percent) 16.90%
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 10% $ 0
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 20% 0
Prepayment Speed Assumption, Impact of Adverse Change on Fair Value 50% $ (1)
OAS (bps) | bps 0.0731
OAS Spread Assumption, Impact of Adverse Change on Fair Value 10% $ 0
OAS Spread Assumption, Impact of Adverse Change on Fair Value 20% $ 0
v3.25.0.1
Derivative Financial Instruments - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Derivative    
Collateral held for derivative assets $ 947,000,000 $ 1,300,000,000
Variation margin 403,000,000 587,000,000
Valuation adjustments related to the credit risk associated with counterparties of customer accommodation derivative contracts 4,000,000 7,000,000
Amount of variation margin payment applied to derivative liability contracts 1,200,000,000 721,000,000
Gain or losses reclassified from AOCI into earnings associated with the discontinuance of cash flow hedges 0 0
Notional amount of the risk participations agreements 3,247,000,000 3,563,000,000
Total collateral    
Derivative    
Collateral held for derivative liabilities $ 1,100,000,000 1,100,000,000
Interest Rate Contract    
Derivative    
Maximum length of time of hedging exposure 85 months  
Deferred loss, net of tax, on cash flow hedges recorded in accumulated other comprehensive income $ (654,000,000) (372,000,000)
Net deferred loss, net of tax, recorded in AOCI are expected to be reclassified into earnings 134,000,000  
Interest Rate Contract | Credit Risk    
Derivative    
Fair value of risk participation agreements $ 5,000,000 $ 6,000,000
Weighted-average remaining life 2 years 1 month 6 days  
v3.25.0.1
Derivative Financial Instruments - Notional Amounts and Fair Values for All Derivative Instruments Included in the Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value    
Derivative assets, fair value, gross assets $ 2,470 $ 2,672
Total derivative assets 2,472 2,677
Derivative liabilities, fair value, gross liabilities 2,798 2,999
Total derivative liabilities 2,798 2,999
Amount of variation margin payment applied to derivative asset contracts 257 335
Amount of variation margin payment applied to derivative liability contracts 45 58
Designated as Hedging Instrument | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges    
Derivatives, Fair Value    
Derivative assets, fair value, gross assets 7 10
Derivative liabilities, fair value, gross liabilities 16 45
Designated as Hedging Instrument | Fair Value Hedging | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges    
Derivatives, Fair Value    
Derivative assets, fair value, gross assets 1 0
Derivative liabilities, fair value, gross liabilities 12 32
Designated as Hedging Instrument | Fair Value Hedging | Interest rate swaps | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges | Long-term debt    
Derivatives, Fair Value    
Notional Amount 4,955 5,955
Derivative assets, fair value, gross assets 1 0
Derivative liabilities, fair value, gross liabilities 12 32
Designated as Hedging Instrument | Cash Flow Hedging | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges    
Derivatives, Fair Value    
Derivative assets, fair value, gross assets 6 10
Derivative liabilities, fair value, gross liabilities 4 13
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges | Commercial and Industrial    
Derivatives, Fair Value    
Notional Amount 11,000 8,000
Derivative assets, fair value, gross assets 2 2
Derivative liabilities, fair value, gross liabilities 4 11
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges | Commercial Mortgage and Commercial Construction    
Derivatives, Fair Value    
Notional Amount   4,000
Derivative assets, fair value, gross assets   1
Derivative liabilities, fair value, gross liabilities   1
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swap - forward starting | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges | Commercial and Industrial    
Derivatives, Fair Value    
Notional Amount 1,000 6,000
Derivative assets, fair value, gross assets 1 6
Derivative liabilities, fair value, gross liabilities 0 1
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swap - forward starting | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges | Commercial Mortgage and Commercial Construction    
Derivatives, Fair Value    
Notional Amount 4,000  
Derivative assets, fair value, gross assets 3  
Derivative liabilities, fair value, gross liabilities 0  
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate floors | Accumulated Net Gain (Loss) from Designated or Qualifying Hedges | Commercial and Industrial    
Derivatives, Fair Value    
Notional Amount   3,000
Derivative assets, fair value, gross assets   1
Derivative liabilities, fair value, gross liabilities   0
Not Designated as Hedging Instrument    
Derivatives, Fair Value    
Total derivative assets 2,465 2,667
Total derivative liabilities 2,782 2,954
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes    
Derivatives, Fair Value    
Derivative assets, fair value, gross assets 15 83
Derivative liabilities, fair value, gross liabilities 174 178
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Interest rate contracts related to MSR portfolio    
Derivatives, Fair Value    
Notional Amount 3,135 3,205
Derivative assets, fair value, gross assets 4 81
Derivative liabilities, fair value, gross liabilities 4 0
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Forward contracts related to residential mortgage loans measured at fair value | Loans held for sale    
Derivatives, Fair Value    
Notional Amount   650
Derivative assets, fair value, gross assets 8 0
Derivative liabilities, fair value, gross liabilities 0 5
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Swap    
Derivatives, Fair Value    
Notional Amount 2,465 4,178
Derivative assets, fair value, gross assets 0 0
Derivative liabilities, fair value, gross liabilities 170 168
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Interest-only strips    
Derivatives, Fair Value    
Notional Amount 30 39
Derivative assets, fair value, gross assets 0 1
Derivative liabilities, fair value, gross liabilities 0 0
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Interest rate contracts for collateral management    
Derivatives, Fair Value    
Notional Amount 1,000 5,000
Derivative assets, fair value, gross assets 1 1
Derivative liabilities, fair value, gross liabilities 0 1
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Interest rate contracts for LIBOR transition    
Derivatives, Fair Value    
Notional Amount 597 597
Derivative assets, fair value, gross assets 0 0
Derivative liabilities, fair value, gross liabilities 0 0
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Other    
Derivatives, Fair Value    
Notional Amount 43 30
Derivative assets, fair value, gross assets 0 0
Derivative liabilities, fair value, gross liabilities 0 0
Not Designated as Hedging Instrument | Risk Management and Other Business Purposes | Foreign exchange contracts    
Derivatives, Fair Value    
Notional Amount 104 190
Derivative assets, fair value, gross assets 2 0
Derivative liabilities, fair value, gross liabilities 0 4
Not Designated as Hedging Instrument | Customer Accommodation    
Derivatives, Fair Value    
Total derivative assets 2,450 2,584
Total derivative liabilities 2,608 2,776
Not Designated as Hedging Instrument | Customer Accommodation | Interest rate contracts for LIBOR transition    
Derivatives, Fair Value    
Notional Amount   675
Not Designated as Hedging Instrument | Customer Accommodation | Interest rate contracts    
Derivatives, Fair Value    
Notional Amount 87,928 95,079
Derivative assets, fair value, gross assets 708 885
Derivative liabilities, fair value, gross liabilities 924 1,162
Not Designated as Hedging Instrument | Customer Accommodation | Interest rate lock commitments    
Derivatives, Fair Value    
Notional Amount 264 252
Derivative assets, not subject to master netting arrangement 2 5
Derivative liabilities, not subject to master netting arrangement 0 0
Not Designated as Hedging Instrument | Customer Accommodation | Commodity contracts    
Derivatives, Fair Value    
Notional Amount 16,889 17,621
Derivative assets, fair value, gross assets 575 1,051
Derivative liabilities, fair value, gross liabilities 564 1,018
Not Designated as Hedging Instrument | Customer Accommodation | TBA securities    
Derivatives, Fair Value    
Notional Amount 44 27
Derivative assets, fair value, gross assets 0 0
Derivative liabilities, fair value, gross liabilities 0 0
Not Designated as Hedging Instrument | Customer Accommodation | Foreign exchange contracts    
Derivatives, Fair Value    
Notional Amount 38,640 37,734
Derivative assets, fair value, gross assets 1,165 643
Derivative liabilities, fair value, gross liabilities $ 1,120 $ 596
v3.25.0.1
Derivative Financial Instruments - Change in the Fair Value for Interest Rate Contracts and the Related Hedged Items (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivatives, Fair Value      
Hedged Asset, Statement of Financial Position [Extensible Enumeration] Long-term debt Long-term debt  
Fair Value Hedging | Debt Securities      
Derivatives, Fair Value      
Cumulative amount of fair value hedging adjustments remaining for hedged items for which hedge accounting has been discontinued $ (9) $ (11)  
Fair Value Hedging | Long-term debt      
Derivatives, Fair Value      
Carrying amount of the hedged items 4,838 5,899  
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items (103) (38)  
Fair Value Hedging | Interest rate contracts | Interest on long-term debt      
Derivatives, Fair Value      
Change in fair value of interest rate swaps hedging long-term debt, available-for-sale debt and other securities (66) 29 $ (460)
Change in fair value of hedged long-term debt, available-for-sale debt and other securities attributable to the risk being hedged 65 (26) 460
Fair Value Hedging | Interest rate contracts | Interest on securities      
Derivatives, Fair Value      
Change in fair value of interest rate swaps hedging long-term debt, available-for-sale debt and other securities 0 0 8
Change in fair value of hedged long-term debt, available-for-sale debt and other securities attributable to the risk being hedged $ 0 $ 0 $ (8)
v3.25.0.1
Derivative Financial Instruments - Net Gains (Losses) Relating to Derivative Instruments Designated as Cash Flow Hedges (Details) - Cash Flow Hedging - Interest Income (Expense) Net - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of pre-tax net losses recognized in OCI $ (724) $ (171) $ (1,006)
Amount of pre-tax net (losses) gains reclassified from OCI into net income $ (351) $ (334) $ 99
v3.25.0.1
Derivative Financial Instruments - Net Gains (Losses) Recorded in the Condensed Consolidated Statements of Income Relating to Free-Standing Derivative Instruments Used for Risk Management and Other Business Purposes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings $ (88) $ (43) $ (363)
Interest rate contracts | Capital markets fees | Contract revenue      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 29 35 48
Interest rate contracts | Other noninterest expense | Credit portion of fair value adjustment      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 4 (2) 10
Interest rate contracts | Mortgage banking net revenue | Interest rate lock commitments      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 41 52 16
Interest rate contracts | Mortgage banking net revenue | MSR portfolio      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings (88) (43) (363)
Foreign exchange contracts | Capital markets fees | Contract revenue      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 74 89 70
Foreign exchange contracts | Other noninterest income      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 14 (3) 12
Foreign exchange contracts | Other noninterest income | Contract revenue      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 6 (14) 8
Foreign exchange contracts | Other noninterest expense | Credit portion of fair value adjustment      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 0 4 (3)
Commodity contracts: | Capital markets fees | Contract revenue      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 18 36 44
Commodity contracts: | Other noninterest expense | Credit portion of fair value adjustment      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 1 0 0
Forward contracts related to residential mortgage loans measured at fair value | Mortgage banking net revenue      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 13 (7) 3
Interest-only strips | Other noninterest income      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings (1) (3) 0
Equity Derivatives | Other noninterest income | Swap      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings $ (138) $ (94) $ (84)
v3.25.0.1
Derivative Financial Instruments - Risk Ratings of the Notional Amount of Risk Participation Agreements (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value    
Notional amount of the risk participations agreements $ 3,247 $ 3,563
Pass    
Derivatives, Fair Value    
Notional amount of the risk participations agreements 3,138 3,168
Special mention    
Derivatives, Fair Value    
Notional amount of the risk participations agreements 9 323
Substandard    
Derivatives, Fair Value    
Notional amount of the risk participations agreements $ 100 $ 72
v3.25.0.1
Derivative Financial Instruments - Net Gains (Losses) Recorded in the Consolidated Statements of Income Relating to Free-Standing Derivative Instruments Used For Customer Accommodation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings $ (88) $ (43) $ (363)
Interest rate contracts | Credit portion of fair value adjustment | Other noninterest expense      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 4 (2) 10
Interest rate contracts | Interest rate lock commitments | Mortgage banking net revenue      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 41 52 16
Commodity contracts | Credit portion of fair value adjustment | Other noninterest expense      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings 1 0 0
Foreign exchange contracts | Credit portion of fair value adjustment | Other noninterest expense      
Derivative Instruments, Gain (Loss)      
Net gains (losses) recorded in earnings $ 0 $ 4 $ (3)
v3.25.0.1
Derivative Financial Instruments - Offsetting Derivative Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative assets    
Gross Amount Recognized in the Consolidated Balance Sheets $ 2,470 $ 2,672
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Derivatives (1,378) (1,031)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral (573) (877)
Net Amount 519 764
Derivative liabilities    
Gross Amount Recognized in the Condensed Consolidated Balance Sheets 2,798 2,999
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Derivatives (1,378) (1,031)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral (193) (159)
Net Amount $ 1,227 $ 1,809
v3.25.0.1
Other Assets - Components (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Other Assets [Abstract]    
Partnership investments $ 2,520 $ 2,326
Derivative instruments 2,472 2,677
Accounts receivable and drafts-in-process 2,381 2,007
Bank owned life insurance 2,135 2,103
Deferred tax assets 1,429 1,438
Accrued interest and fees receivable 796 797
Operating lease right-of-use assets 526 511
Income tax receivable 174 187
Prepaid expenses 142 143
OREO and other repossessed property 32 39
Worldpay, Inc. TRA receivable 0 35
Other 250 275
Total other assets [1] $ 12,857 $ 12,538
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Other Assets - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2012
agreement
Related Party Transactions          
TRA payment $ 11 $ 22 $ 46    
Other noninterest income          
Related Party Transactions          
TRA payment $ 11 22 $ 46    
Worldpay, Inc.          
Related Party Transactions          
TRA receivable   $ 35      
Affiliated Entity | Worldpay, Inc.          
Related Party Transactions          
Number of TRAs entered into | agreement         2
Percentage of cash savings activity         85.00%
Fidelity National Information Services, Inc. and Worldpay, Inc          
Related Party Transactions          
Payment to terminate and settle certain remaining TRA cash flows       $ 366  
Potential termination and settlement of TRA cash flows       720  
Fidelity National Information Services, Inc. and Worldpay, Inc | Other noninterest income          
Related Party Transactions          
Gain from exercise of options       $ 345  
v3.25.0.1
Short-Term Borrowings - Summary of Short-Term Borrowings and Weighted-Average Rates (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]    
Federal funds purchased $ 204 $ 193
Other short-term borrowings 4,450 2,861
Federal Funds Purchased    
Short-term Debt [Line Items]    
Short-term borrowings, average 207 307
Short-term borrowings, maximum month-end balance $ 247 $ 1,143
Short-term borrowings, rate 4.30% 5.31%
Short-term borrowings, average rate 5.21% 4.96%
Other Short Term Borrowings    
Short-term Debt [Line Items]    
Short-term borrowings, average $ 3,024 $ 5,044
Short-term borrowings, maximum month-end balance $ 5,070 $ 7,423
Short-term borrowings, rate 4.39% 5.21%
Short-term borrowings, average rate 5.18% 4.90%
v3.25.0.1
Short-Term Borrowings - Components of Other Short-Term Borrowings (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Short-Term Debt [Abstract]    
FHLB advances $ 4,100 $ 2,500
Securities sold under repurchase agreements 273 330
Derivative collateral 19 3
Other borrowed money 58 28
Other short-term borrowings $ 4,450 $ 2,861
v3.25.0.1
Long-Term Debt - Summary of the Bancorp's Long-Term Borrowings (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
May 05, 2020
Jan. 31, 2020
Oct. 28, 2019
Jul. 26, 2018
Mar. 14, 2018
Mar. 15, 2016
Debt Instrument                
Long-term debt [1] $ 14,337 $ 16,380            
Amount Qualifying as Tier Two Capital for Regulatory Capital Purposes                
Debt Instrument                
Long-term debt 1,300 1,500            
Parent Company                
Debt Instrument                
Long-term debt $ 9,521 10,108            
Parent Company | Senior Notes | Fixed Rate 3.65% Notes Due 2024                
Debt Instrument                
Interest rate (as a percent) 3.65%              
Long-term debt $ 0 1,500            
Parent Company | Senior Notes | Fixed Rate 2.375% Notes Due 2025                
Debt Instrument                
Interest rate (as a percent) 2.375%       2.375%      
Long-term debt $ 750 749            
Parent Company | Senior Notes | Fixed Rate 2.55% Notes Due 2027                
Debt Instrument                
Interest rate (as a percent) 2.55%   2.55%          
Long-term debt $ 748 748            
Parent Company | Senior Notes | Fixed Rate/Floating Rate Notes Due 2027                
Debt Instrument                
Interest rate (as a percent) 1.707%              
Long-term debt $ 472 461            
Parent Company | Senior Notes | Fixed Rate 3.95% Notes Due 2028                
Debt Instrument                
Interest rate (as a percent) 3.95%           3.95%  
Long-term debt $ 648 648            
Parent Company | Senior Notes | Fixed Rate/Floating Rate 4.055 Percent Notes Due 2028                
Debt Instrument                
Interest rate (as a percent) 4.055%              
Long-term debt $ 387 386            
Parent Company | Senior Notes | Fixed Rate/Floating Rate 6.361 Percent Notes Due 202                
Debt Instrument                
Interest rate (as a percent) 6.361%              
Long-term debt $ 999 1,013            
Parent Company | Senior Notes | Fixed Rate/Floating-Rate 6.339% Notes Due 2029                
Debt Instrument                
Interest rate (as a percent) 6.339%              
Long-term debt $ 1,246 1,245            
Parent Company | Senior Notes | Fixed Rate/Floating Rate 4.772 Percent Notes Due 2030                
Debt Instrument                
Interest rate (as a percent) 4.772%              
Long-term debt $ 933 944            
Parent Company | Senior Notes | Fixed Rate/Floating Rate 4.895% Notes Due 2030                
Debt Instrument                
Interest rate (as a percent) 4.895%              
Long-term debt $ 747 0            
Parent Company | Senior Notes | Fixed Rate/Floating Rate 5.631% Notes Due 2032                
Debt Instrument                
Interest rate (as a percent) 5.631%              
Long-term debt $ 996 0            
Parent Company | Senior Notes | Fixed Rate/Floating Rate 4.337 Percent Notes Due 2033                
Debt Instrument                
Interest rate (as a percent) 4.337%              
Long-term debt $ 544 561            
Parent Company | Subordinated Debt | Fixed Rate 4.30% Notes Due 2024                
Debt Instrument                
Interest rate (as a percent) 4.30%              
Long-term debt $ 0 750            
Parent Company | Subordinated Debt | Fixed Rate 8.25% Notes Due 2038                
Debt Instrument                
Interest rate (as a percent) 8.25%              
Long-term debt $ 1,051 1,103            
Subsidiaries                
Debt Instrument                
Long-term debt 4,816              
Subsidiaries | FHLB Advances Due 2021 to 2047                
Debt Instrument                
Long-term debt $ 1,508 1,510            
Subsidiaries | FHLB Advances Due 2021 to 2047 | Weighted-Average                
Debt Instrument                
Interest rate (as a percent) 4.91%              
Subsidiaries | Other Debt Due 2025 - 2052                
Debt Instrument                
Long-term debt $ 312 297            
Subsidiaries | Variable Interest Entity, Primary Beneficiary | Variable Rate | Automobile Loans                
Debt Instrument                
Long-term debt $ 816 1,305            
Subsidiaries | Variable Interest Entity, Primary Beneficiary | Variable Rate | Automobile Loans | Minimum                
Debt Instrument                
Interest rate (as a percent) 5.13%              
Subsidiaries | Variable Interest Entity, Primary Beneficiary | Variable Rate | Automobile Loans | Maximum                
Debt Instrument                
Interest rate (as a percent) 5.80%              
Subsidiaries | Variable Interest Entity, Primary Beneficiary | Fixed-Rate Notes Due 2026 - 2052 | Solar loan securitizations                
Debt Instrument                
Long-term debt $ 30 35            
Subsidiaries | Variable Interest Entity, Primary Beneficiary | Fixed-Rate Notes Due 2026 - 2052 | Solar loan securitizations | Minimum                
Debt Instrument                
Interest rate (as a percent) 4.05%              
Subsidiaries | Variable Interest Entity, Primary Beneficiary | Fixed-Rate Notes Due 2026 - 2052 | Solar loan securitizations | Maximum                
Debt Instrument                
Interest rate (as a percent) 7.00%              
Subsidiaries | Senior Notes | Fixed Rate 3.95% Notes Due 2025                
Debt Instrument                
Interest rate (as a percent) 3.95%         3.95%    
Long-term debt $ 747 727            
Subsidiaries | Senior Notes | Fixed Rate/Floating Rate 5.852 Percent Notes Due 2025                
Debt Instrument                
Interest rate (as a percent) 5.852%              
Long-term debt $ 0 996            
Subsidiaries | Senior Notes | Fixed Rate 2.25% Notes Due 2027                
Debt Instrument                
Interest rate (as a percent) 2.25%     2.25%        
Long-term debt $ 599 599            
Subsidiaries | Subordinated Debt | Fixed Rate 3.85% Notes Due 2026                
Debt Instrument                
Interest rate (as a percent) 3.85%             3.85%
Long-term debt $ 750 749            
Subsidiaries | Junior Subordinated Debt | Floating-Rate Debentures Due 2035                
Debt Instrument                
Long-term debt $ 54 $ 54            
Subsidiaries | Junior Subordinated Debt | Floating-Rate Debentures Due 2035 | Minimum                
Debt Instrument                
Interest rate (as a percent) 6.04%              
Subsidiaries | Junior Subordinated Debt | Floating-Rate Debentures Due 2035 | Maximum                
Debt Instrument                
Interest rate (as a percent) 6.31%              
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Long-Term Debt - Schedule of Aggregate Maturities of Long-Term Debt Obligations (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument    
2025 $ 1,506  
2026 2,429  
2027 1,833  
2028 2,621  
2029 1,328  
Thereafter 4,620  
Total [1] 14,337 $ 16,380
Parent Company    
Debt Instrument    
2025 750  
2026 0  
2027 1,220  
2028 2,034  
2029 1,246  
Thereafter 4,271  
Total 9,521 $ 10,108
Subsidiaries    
Debt Instrument    
2025 756  
2026 2,429  
2027 613  
2028 587  
2029 82  
Thereafter 349  
Total $ 4,816  
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Long-Term Debt - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument    
Debt, outstanding note $ 14,500 $ 16,500
Debt, discounts and premiums 13 14
Unamortized debt issuance costs 31 32
Fair Value Hedging | Long-term debt    
Debt Instrument    
Cumulative amount of fair value hedging adjustments included in the carrying amount of the hedged items $ (103) $ (38)
v3.25.0.1
Long-Term Debt - Senior Notes (Details) - Parent Company - USD ($)
$ in Millions
Sep. 06, 2024
Jan. 29, 2024
Jul. 27, 2023
Oct. 27, 2022
Jul. 28, 2022
Apr. 25, 2022
Nov. 01, 2021
May 05, 2020
Mar. 14, 2018
Dec. 31, 2024
Oct. 28, 2019
Senior Notes | Fixed Rate 3.95% Notes Due 2028                      
Debt Instrument                      
Principal amount                 $ 650    
Interest rate (as a percent)                 3.95% 3.95%  
Redemption period prior to maturity date                 30 days    
Redemption price (as a percent)                 100.00%    
Senior Notes | Fixed Rate 2.375% Notes Due 2025                      
Debt Instrument                      
Principal amount                     $ 750
Interest rate (as a percent)                   2.375% 2.375%
Senior Notes | Fixed Rate 2.55% Notes Due 2027                      
Debt Instrument                      
Principal amount               $ 750      
Interest rate (as a percent)               2.55%   2.55%  
Redemption price (as a percent)               100.00%      
Debt term               7 years      
Senior Notes | Fixed Rate 2.55% Notes Due 2027 | U.S. Treasury Rate                      
Debt Instrument                      
Basis spread on variable rate (as a percent)               0.35%      
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due November 1, 2027                      
Debt Instrument                      
Principal amount             $ 500        
Redemption period prior to maturity date             30 days        
Derivative, variable interest rate                   5.34%  
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due November 1, 2027 | Debt Instrument, Redemption, Period One                      
Debt Instrument                      
Redemption price (as a percent)             100.00%        
Debt instrument, redemption period             1 year        
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due November 1, 2027 | Debt Instrument, Redemption, Period Two                      
Debt Instrument                      
Redemption price (as a percent)             100.00%        
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due November 1, 2027 | Secured Overnight Financing Rate (SOFR)                      
Debt Instrument                      
Derivative, basis spread on a variable rate             0.69%        
Senior Notes | Fixed Rate 1.707% Senior Notes                      
Debt Instrument                      
Interest rate (as a percent)             1.707%        
Senior Notes | Senior Notes with Compounded SOFR Interest Rate | Secured Overnight Financing Rate (SOFR)                      
Debt Instrument                      
Basis spread on variable rate (as a percent)             0.685%        
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due April 2028 And 2033                      
Debt Instrument                      
Principal amount           $ 1,000          
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due April 2028 And 2033 | Debt Instrument, Redemption, Period One                      
Debt Instrument                      
Debt instrument, redemption period           1 year          
Senior Notes | Fixed Rate/Floating Rate 4.055 Percent Senior Notes Due April 2028                      
Debt Instrument                      
Principal amount           $ 400          
Interest rate (as a percent)           4.055%          
Derivative, variable interest rate                   5.91%  
Senior Notes | Fixed Rate/Floating Rate 4.055 Percent Senior Notes Due April 2028 | Debt Instrument, Redemption, Period Two                      
Debt Instrument                      
Debt instrument, redemption period           30 days          
Senior Notes | Fixed Rate/Floating Rate 4.055 Percent Senior Notes Due April 2028 | Secured Overnight Financing Rate (SOFR)                      
Debt Instrument                      
Basis spread on variable rate (as a percent)           1.355%          
Senior Notes | Fixed Rate/Floating Rate 4.055 Percent Senior Notes Due April 2028 | Secured Overnight Financing Rate, Floating (SOFR)                      
Debt Instrument                      
Derivative, basis spread on a variable rate           1.357%          
Senior Notes | Fixed Rate/Floating Rate 4.337 Percent Senior Notes Due April 2033                      
Debt Instrument                      
Principal amount           $ 600          
Interest rate (as a percent)           4.337%          
Derivative, variable interest rate                   6.22%  
Senior Notes | Fixed Rate/Floating Rate 4.337 Percent Senior Notes Due April 2033 | Debt Instrument, Redemption, Period Three                      
Debt Instrument                      
Debt instrument, redemption period           90 days          
Senior Notes | Fixed Rate/Floating Rate 4.337 Percent Senior Notes Due April 2033 | Secured Overnight Financing Rate (SOFR)                      
Debt Instrument                      
Basis spread on variable rate (as a percent)           1.66%          
Senior Notes | Fixed Rate/Floating Rate 4.337 Percent Senior Notes Due April 2033 | Secured Overnight Financing Rate, Floating (SOFR)                      
Debt Instrument                      
Derivative, basis spread on a variable rate           1.666%          
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 2030                      
Debt Instrument                      
Principal amount         $ 1,000            
Derivative, variable interest rate                   6.67%  
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 2030 | Debt Instrument, Redemption, Period One                      
Debt Instrument                      
Debt instrument, redemption period         1 year            
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 2030 | Debt Instrument, Redemption, Period Four                      
Debt Instrument                      
Debt instrument, redemption period         60 days            
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 2030 | Secured Overnight Financing Rate (SOFR)                      
Debt Instrument                      
Basis spread on variable rate (as a percent)         2.127%            
Derivative, basis spread on a variable rate                   2.132%  
Senior Notes | Fixed Rate 4.772 Percent Senior Notes Due July 2030                      
Debt Instrument                      
Interest rate (as a percent)         4.772%            
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due October 2028                      
Debt Instrument                      
Principal amount       $ 1,000              
Redemption period prior to maturity date       180 days              
Derivative, variable interest rate                   6.74%  
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due October 2028 | Debt Instrument, Redemption, Period Four                      
Debt Instrument                      
Redemption period prior to maturity date       1 year              
Debt instrument, redemption period       30 days              
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due October 2028 | Secured Overnight Financing Rate (SOFR)                      
Debt Instrument                      
Basis spread on variable rate (as a percent)       2.192%              
Derivative, basis spread on a variable rate       2.193%              
Senior Notes | Fixed Rate 6.361 Percent Senior Notes Due October 2028                      
Debt Instrument                      
Interest rate (as a percent)       6.361%              
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 27, 2029                      
Debt Instrument                      
Principal amount     $ 1,250                
Interest rate (as a percent)     6.339%                
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 27, 2029 | Debt Instrument, Redemption, Period One                      
Debt Instrument                      
Debt instrument, redemption period     1 year                
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 27, 2029 | Debt Instrument, Redemption, Period Two                      
Debt Instrument                      
Debt instrument, redemption period     30 days                
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 27, 2029 | Debt Instrument, Redemption, Period Five                      
Debt Instrument                      
Debt instrument, redemption period     180 days                
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due July 27, 2029 | Secured Overnight Financing Rate (SOFR)                      
Debt Instrument                      
Basis spread on variable rate (as a percent)     2.34%                
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due January 29, 2032                      
Debt Instrument                      
Principal amount   $ 1,000                  
Interest rate (as a percent)   5.631%                  
Basis spread on variable rate (as a percent)   1.84%                  
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due January 29, 2032 | Debt Instrument, Redemption, Period One                      
Debt Instrument                      
Debt instrument, redemption period   1 year                  
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due January 29, 2032 | Debt Instrument, Redemption, Period Two                      
Debt Instrument                      
Debt instrument, redemption period   60 days                  
Senior Notes | Fixed Rate/Floating Rate Senior Notes Due January 29, 2032 | Debt Instrument, Redemption, Period Three                      
Debt Instrument                      
Debt instrument, redemption period   180 days                  
Senior Notes | Fixed/Floating Rate Floating Rate 4.895% Senior Notes Due 2030                      
Debt Instrument                      
Principal amount $ 750                    
Interest rate (as a percent) 4.895%                    
Basis spread on variable rate (as a percent) 1.486%                    
Senior Notes | Fixed/Floating Rate Floating Rate 4.895% Senior Notes Due 2030 | Debt Instrument, Redemption, Period One                      
Debt Instrument                      
Debt instrument, redemption period 1 year                    
Senior Notes | Fixed/Floating Rate Floating Rate 4.895% Senior Notes Due 2030 | Debt Instrument, Redemption, Period Two                      
Debt Instrument                      
Debt instrument, redemption period 30 days                    
Senior Notes | Fixed/Floating Rate Floating Rate 4.895% Senior Notes Due 2030 | Debt Instrument, Redemption, Period Three                      
Debt Instrument                      
Debt instrument, redemption period 180 days                    
Subordinated Debt | Fixed Rate 8.25% Notes Due 2038                      
Debt Instrument                      
Interest rate (as a percent)                   8.25%  
Derivative, variable interest rate                   8.20%  
Derivative, basis spread on a variable rate                   3.31%  
v3.25.0.1
Long-Term Debt - Subordinated Debt (Details) - Parent Company - Subordinated Debt - Fixed Rate 8.25% Notes Due 2038
$ in Millions
Dec. 31, 2024
USD ($)
Debt Instrument  
Issue of senior notes to third party investors $ 1,000
Interest rate (as a percent) 8.25%
Amount of debt converted to floating rate $ 705
Derivative, basis spread on a variable rate 3.31%
Derivative, variable interest rate 8.20%
v3.25.0.1
Long-Term Debt - Senior and Subordinated Debt (Details) - Subsidiaries - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2020
Jul. 26, 2018
Mar. 15, 2016
Dec. 31, 2024
Debt Instrument        
Global Bank note program       $ 25,000
Debt, available for future issuance       $ 20,400
Subordinated Debt | Fixed Rate 3.85% Notes Due 2026        
Debt Instrument        
Principal amount     $ 750  
Interest rate (as a percent)     3.85% 3.85%
Redemption period prior to maturity date     30 days  
Redemption price (as a percent)     100.00%  
Senior Notes | Fixed rate 395 percent notes due 2025 [Member]        
Debt Instrument        
Principal amount   $ 750    
Interest rate (as a percent)   3.95%   3.95%
Redemption period prior to maturity date   30 days    
Redemption price (as a percent)   100.00%    
Derivative, basis spread on a variable rate       1.16%
Derivative, variable interest rate       5.70%
Senior Notes | Fixed Rate 2.25% Notes Due 2027        
Debt Instrument        
Principal amount $ 600      
Interest rate (as a percent) 2.25%     2.25%
Redemption price (as a percent) 100.00%      
Minimum | Medium-Term Senior Notes and Subordinated Bank Notes        
Debt Instrument        
Debt term       1 year
Maximum | Medium-Term Senior Notes and Subordinated Bank Notes        
Debt Instrument        
Debt term       30 years
v3.25.0.1
Long-Term Debt - Junior Subordinated Debt (Details) - Subordinated Debt
 12 Months Ended
Dec. 31, 2024
First Charter Capital Trust I  
Debt Instrument  
Basis spread on variable rate (as a percent) 1.69%
First Capital Trust II  
Debt Instrument  
Basis spread on variable rate (as a percent) 1.42%
First Charter Capital Trust I and II  
Debt Instrument  
Tenor spread adjustment 0.0026161
v3.25.0.1
Long-Term Debt - FHLB Advances (Details) - Subsidiaries - FHLB Advances Due 2021 to 2047
$ in Millions
Dec. 31, 2024
USD ($)
Debt Instrument  
Loans and securities serving as FHLB collateral $ 36,600
FHLB advances 1,500
FHLB maturing in 2025 3
FHLB maturing in 2026 1,500
FHLB maturing after 2029 $ 5
Weighted-Average  
Debt Instrument  
Interest rate (as a percent) 4.91%
v3.25.0.1
Long-Term Debt - Notes Associated with Consolidated VIEs (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument    
Long-term debt [1] $ 14,337 $ 16,380
2026 2,429  
2028 2,621  
Thereafter 4,620  
Subsidiaries    
Debt Instrument    
Long-term debt 4,816  
2026 2,429  
2028 587  
Thereafter 349  
Variable Interest Entity, Primary Beneficiary | Subsidiaries | Automobile And Solar Loans | Fixed    
Debt Instrument    
Long-term debt 846  
2026 169  
2028 550  
Thereafter $ 127  
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees - Summary of Significant Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Commitments to extend credit    
Long-term Purchase Commitment    
Commitments $ 80,680 $ 81,570
Letters of credit    
Long-term Purchase Commitment    
Commitments 1,952 2,095
Forward contracts related to residential mortgage loans measured at fair value    
Long-term Purchase Commitment    
Commitments 881 650
Capital commitments for private equity investments    
Long-term Purchase Commitment    
Commitments 219 170
Capital expenditures    
Long-term Purchase Commitment    
Commitments 80 95
Purchase obligations    
Long-term Purchase Commitment    
Commitments $ 27 $ 69
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees - Additional Information (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Dec. 31, 2021
Sep. 30, 2019
Jun. 30, 2018
Sep. 30, 2014
Sep. 30, 2012
Mar. 31, 2012
Jun. 30, 2011
Dec. 31, 2010
Jun. 30, 2010
Dec. 31, 2008
Loss Contingencies                                  
Margin account balance held by the brokerage clearing agent $ 16 $ 6                              
Visa                                  
Loss Contingencies                                  
Fair value of mortgage representation and warranty provisions 170 168                              
Visa IPO, shares of Visa's Class B common stock received (in shares)                                 10.1
Visa Class B shares carryover basis                                 $ 0
Escrow deposit     $ 1,500 $ 150 $ 500 $ 350 $ 600 $ 250 $ 300 $ 600 $ 450 $ 150 $ 1,565 $ 400 $ 800 $ 500 $ 3,000
Residential mortgage loans                                  
Loss Contingencies                                  
Fair value of mortgage representation and warranty provisions 8                                
Make-whole payments 0 0                              
Repurchased outstanding principal 20 54                              
Repurchase demand request 44 89                              
Outstanding repurchase demand inventory 7 8                              
Secured Debt                                  
Loss Contingencies                                  
Fully and unconditionally guaranteed certain long-term borrowing obligations issued by wholly-owned issuing trust entities 62 62                              
Standby Letters of Credit                                  
Loss Contingencies                                  
Reserve for unfunded commitments $ 12 $ 20                              
Standby letters of credit as a percentage of total letters of credit 99.00% 99.00%                              
Standby Letters of Credit | Secured Debt                                  
Loss Contingencies                                  
Standby letters of credit as a percentage of total letters of credit 76.00% 72.00%                              
Variable Rate Demand Note                                  
Loss Contingencies                                  
Total variable rate demand notes $ 356 $ 400                              
Letters of credit issued related to variable rate demand notes 45 83                              
Variable Rate Demand Note | Debt Securities                                  
Loss Contingencies                                  
Total variable rate demand notes 0 6                              
Other Liabilities                                  
Loss Contingencies                                  
Reserve for unfunded commitments 134 166                              
Other Liabilities | Residential mortgage loans                                  
Loss Contingencies                                  
Outstanding balances on residential mortgage loans sold with representation and warranty provisions $ 5 $ 7                              
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees - Risk Rating Under the Risk Rating System (Details) - Commitments to Extend Credit - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Line of Credit Facility    
Commitments $ 80,680 $ 81,570
Pass    
Line of Credit Facility    
Commitments 78,734 79,593
Special mention    
Line of Credit Facility    
Commitments 850 1,301
Substandard    
Line of Credit Facility    
Commitments 1,095 676
Doubtful    
Line of Credit Facility    
Commitments $ 1 $ 0
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees - Standby and Commercial Letters of Credit, Conditional Commitments Issued to Guarantee the Performance of a Customer to a Third Party (Details) - Letters of credit
$ in Millions
Dec. 31, 2024
USD ($)
Line of Credit Facility  
Commitments $ 1,952
Less than 1 year  
Line of Credit Facility  
Commitments 980
Less than 1 year | Commercial  
Line of Credit Facility  
Commitments 2
1 - 5 years  
Line of Credit Facility  
Commitments 967
1 - 5 years | Commercial  
Line of Credit Facility  
Commitments 3
Over 5 years  
Line of Credit Facility  
Commitments $ 5
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees - Letters of Credit (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Off-balance Sheet Risks, Disclosure Information    
Letters of credit $ 1,952 $ 2,095
Pass    
Fair Value, Off-balance Sheet Risks, Disclosure Information    
Letters of credit 1,779 1,902
Special mention    
Fair Value, Off-balance Sheet Risks, Disclosure Information    
Letters of credit 60 81
Substandard    
Fair Value, Off-balance Sheet Risks, Disclosure Information    
Letters of credit 110 112
Doubtful    
Fair Value, Off-balance Sheet Risks, Disclosure Information    
Letters of credit $ 3 $ 0
v3.25.0.1
Commitments, Contingent Liabilities and Guarantees - Visa Funding and Bancorp Cash Payments (Details) - USD ($)
$ in Millions
 3 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Dec. 31, 2021
Sep. 30, 2019
Jun. 30, 2018
Sep. 30, 2014
Sep. 30, 2012
Mar. 31, 2012
Jun. 30, 2011
Dec. 31, 2010
Jun. 30, 2010
Dec. 31, 2008
Visa Funding Amount                              
Loss Contingencies                              
Escrow Deposit $ 1,500 $ 150 $ 500 $ 350 $ 600 $ 250 $ 300 $ 600 $ 450 $ 150 $ 1,565 $ 400 $ 800 $ 500 $ 3,000
Bancorp Cash Payment Amount                              
Loss Contingencies                              
Cash Payment Amount $ 65 $ 6 $ 21 $ 15 $ 25 $ 11 $ 12 $ 26 $ 18 $ 6 $ 75 $ 19 $ 35 $ 20  
v3.25.0.1
Legal and Regulatory Proceedings (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Jul. 09, 2024
USD ($)
Mar. 29, 2023
USD ($)
May 28, 2019
USD ($)
Sep. 17, 2018
USD ($)
Oct. 31, 2012
merchant
Dec. 31, 2013
lawsuit
Dec. 31, 2024
USD ($)
attorney
state
Aug. 03, 2012
Loss Contingencies                
Apr percentage allegedly misleading               120.00%
Number of putative class actions filed | lawsuit           4    
Damages sought     $ 440          
Damages awarded   $ 2            
Number of state attorneys | attorney             17  
Number of state attorneys included in the coalition, Power Home Solar customers | state             11  
Number of states in coalition | state             17  
Amount in excess of amounts reserved             $ 92  
Federal Lawsuits                
Loss Contingencies                
Number of merchants requesting exclusion | merchant         500      
Class Action Settlement                
Loss Contingencies                
Total payment by all defendants       $ 6,240        
Amount awarded to other party, escrow       5,340        
Amount awarded to other party, additional       900        
Escrow funds returned to defendants       $ 700        
Civil Monetary Penalty, Consent Order | Bureau of Consumer Financial Protection v Fifth Third Bank                
Loss Contingencies                
Damages awarded $ 5              
Civil Monetary Penalty, Stipulated Final Judgement | Bureau of Consumer Financial Protection v Fifth Third Bank                
Loss Contingencies                
Damages awarded $ 15              
v3.25.0.1
Related Party Transactions - Summary of the Bancorp's Activities with its Principal Shareholders, Directors and Executives (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Related Party Transactions    
Outstanding balance on loans, net of participations and undrawn commitments $ 117,439 $ 114,912
Related Party    
Related Party Transactions    
Outstanding balance on loans, net of participations and undrawn commitments 56 111
Commitments to Extend Credit    
Related Party Transactions    
Commitments 80,680 81,570
Commitments to Extend Credit | Directors and their affiliated companies    
Related Party Transactions    
Commitments 162 165
Commitments to Extend Credit | Executive officers    
Related Party Transactions    
Commitments 3 3
Commitments to Extend Credit | Related Party    
Related Party Transactions    
Commitments $ 165 $ 168
v3.25.0.1
Income Taxes - Applicable Income Taxes Included in the Consolidated Statements of Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current income tax expense:      
U.S. Federal income taxes $ 452 $ 647 $ 570
State and local income taxes 75 96 126
Foreign income taxes 3 2 11
Total current income tax expense 530 745 707
Deferred income tax expense (benefit):      
U.S. Federal income taxes 84 (81) (31)
State and local income taxes (13) (23) (29)
Foreign income taxes 1 (2) 0
Total deferred income tax expense (benefit) 72 (106) (60)
Applicable income tax expense $ 602 $ 639 $ 647
v3.25.0.1
Income Taxes - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Amortization for qualifying CDC investments $ 200,000,000 $ 200,000,000 $ 189,000,000
Deferred tax assets related to state net operating loss carryforwards 6,000,000 11,000,000  
State net operating loss carryforwards specific valuation allowances 7,000,000 5,000,000  
Interest expense recognized in connection with income taxes 1,000,000 2,000,000 $ 1,000,000
Accrued interest liabilities, net of the related tax benefits 11,000,000 10,000,000  
Liabilities for penalties related to income taxes 0 0  
Allocation of earnings for bad debt deductions of former thrift subsidiaries included in retained earnings $ 157,000,000 $ 157,000,000  
v3.25.0.1
Income Taxes - Reconciliation Between the Federal Statutory Corporate Tax Rate and the Bancorp's Effective Tax Rate (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Statutory tax rate 21.00% 21.00% 21.00%
Increase (decrease) resulting from:      
State taxes, net of federal benefit 1.70% 1.90% 2.50%
Tax-exempt income (0.90%) (0.80%) (0.80%)
Tax credits and other tax benefits from CDC investments (8.50%) (7.70%) (7.10%)
Proportional amortization of qualifying CDC investments 0.068 0.067 0.061
Other tax credits (0.10%) (0.70%) (0.40%)
Other, net 0.60% 1.00% (0.30%)
Effective tax rate 20.60% 21.40% 21.00%
v3.25.0.1
Income Taxes - Reconciliation of the Beginning and Ending Amounts of the Bancorp's Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits at January 1 $ 97 $ 94 $ 102
Gross increases for tax positions taken during prior period 12 14 3
Gross decreases for tax positions taken during prior period (7) (5) (5)
Gross increases for tax positions taken during current period 21 15 11
Settlements with taxing authorities (1) (1) 0
Lapse of applicable statute of limitations (21) (20) (17)
Unrecognized tax benefits at December 31 $ 101 $ 97 $ 94
v3.25.0.1
Income Taxes - Deferred Income Taxes Included in Other Assets in the Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Other comprehensive income $ 1,459 $ 1,395
Allowance for loan and lease losses 494 488
Loan origination fees and costs 199 195
Deferred compensation 115 114
Reserves 38 33
State deferred taxes 35 43
Reserves for unfunded commitments 28 35
Federal net operating loss carryforwards 7 19
State net operating loss carryforwards 6 11
Other 138 135
Total deferred tax assets 2,519 2,468
Deferred tax liabilities:    
Lease financing 583 551
MSRs and related economic hedges 153 141
Bank premises and equipment 76 68
Goodwill and intangible assets 64 70
Investments in joint ventures and partnership interests 48 58
Other 168 143
Total deferred tax liabilities 1,092 1,031
Total net deferred tax asset $ 1,427 $ 1,437
v3.25.0.1
Retirement and Benefit Plans - Defined Benefit Retirement Plans with Overfunded and Underfunded Status (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at January 1 $ 102    
Fair value of plan assets at December 31 87 $ 102  
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Interest cost 5 6 $ 5
Underfunded defined benefit pension plans      
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]      
Fair value of plan assets at January 1 102 109  
Actual return on assets (3) 5  
Contributions 1 2  
Settlement (7) (7)  
Benefits paid (6) (7)  
Fair value of plan assets at December 31 87 102 109
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Projected benefit obligation at January 1 113 120  
Interest cost 5 6  
Settlement (7) (7)  
Actuarial (gain) loss (5) 1  
Benefits paid (6) (7)  
Projected benefit obligation at December 31 100 113 $ 120
Underfunded projected benefit obligation at December 31 (13) (11)  
Accumulated benefit obligation at December 31 $ 100 $ 113  
v3.25.0.1
Retirement and Benefit Plans - Net Periodic Benefit Cost and Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Components of net periodic benefit cost:      
Interest cost $ 5 $ 6 $ 5
Expected return on assets (5) (5) (4)
Amortization of net actuarial loss 2 2 3
Settlement 2 2 3
Net periodic benefit cost 4 5 7
Other changes in plan assets and benefit obligations recognized in other comprehensive income:      
Net actuarial loss (gain) 2 1 (11)
Amortization of net actuarial loss (2) (2) (3)
Settlement (1) (2) (3)
Total recognized in other comprehensive income (1) (3) (17)
Total recognized in net periodic benefit cost and other comprehensive income $ 3 $ 2 $ (10)
v3.25.0.1
Retirement and Benefit Plans - Plan Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure    
Plan assets $ 87 $ 102
Cash equivalents    
Defined Benefit Plan Disclosure    
Plan assets 3 7
Total debt securities    
Defined Benefit Plan Disclosure    
Plan assets 84 95
U.S. Treasury and federal agencies securities    
Defined Benefit Plan Disclosure    
Plan assets 51 55
Asset-backed securities and other debt securities    
Defined Benefit Plan Disclosure    
Plan assets 33 40
Level 1    
Defined Benefit Plan Disclosure    
Plan assets 51 59
Level 1 | Cash equivalents    
Defined Benefit Plan Disclosure    
Plan assets 3 7
Level 1 | Total debt securities    
Defined Benefit Plan Disclosure    
Plan assets 48 52
Level 1 | U.S. Treasury and federal agencies securities    
Defined Benefit Plan Disclosure    
Plan assets 48 52
Level 1 | Asset-backed securities and other debt securities    
Defined Benefit Plan Disclosure    
Plan assets 0 0
Level 2    
Defined Benefit Plan Disclosure    
Plan assets 36 43
Level 2 | Cash equivalents    
Defined Benefit Plan Disclosure    
Plan assets 0 0
Level 2 | Total debt securities    
Defined Benefit Plan Disclosure    
Plan assets 36 43
Level 2 | U.S. Treasury and federal agencies securities    
Defined Benefit Plan Disclosure    
Plan assets 3 3
Level 2 | Asset-backed securities and other debt securities    
Defined Benefit Plan Disclosure    
Plan assets 33 40
Level 3        
Defined Benefit Plan Disclosure    
Plan assets 0 0
Level 3     | Cash equivalents    
Defined Benefit Plan Disclosure    
Plan assets 0 0
Level 3     | Total debt securities    
Defined Benefit Plan Disclosure    
Plan assets 0 0
Level 3     | U.S. Treasury and federal agencies securities    
Defined Benefit Plan Disclosure    
Plan assets 0 0
Level 3     | Asset-backed securities and other debt securities    
Defined Benefit Plan Disclosure    
Plan assets $ 0 $ 0
v3.25.0.1
Retirement and Benefit Plans - Plan Assumptions (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
For measuring benefit obligations at year end:      
Discount rate 5.58% 5.04% 5.37%
For measuring net periodic benefit cost:      
Discount rate 5.08% 5.50% 3.69%
Expected return on plan assets 5.09% 5.52% 3.91%
v3.25.0.1
Retirement and Benefit Plans - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure      
Increase in pension expense by lowering both the expected rate of return on the plan and the discount rate by 0.25% $ 1,000,000    
Estimated future defined benefit plan contributions 1,000,000    
Estimated pension benefit payments for 2025 12,000,000    
Estimated pension benefit payments for 2026 12,000,000    
Estimated pension benefit payments for 2027 11,000,000    
Estimated pension benefit payments for 2028 10,000,000    
Estimated pension benefit payments for 2029 10,000,000    
Estimated pension benefit payments for 2030 through 2034 39,000,000    
Trustee fees 0 $ 0 $ 0
Qualified defined contribution plan      
Defined Benefit Plan Disclosure      
Expenses recognized for the Bancorp's defined contribution plan 115,000,000 114,000,000 111,000,000
Non-qualified defined contribution plan      
Defined Benefit Plan Disclosure      
Expenses recognized for the Bancorp's defined contribution plan 5,000,000 5,000,000 7,000,000
Deferred profit sharing      
Defined Benefit Plan Disclosure      
Expenses recognized for the Bancorp's defined contribution plan $ 0 $ 0 $ 0
v3.25.0.1
Retirement and Benefit Plans - Targeted and Actual Weighted Average Asset Allocations by Plan Asset Category (Details)
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure    
Actual weighted-average asset allocation percentage 100.00% 100.00%
Fixed-income securities    
Defined Benefit Plan Disclosure    
Actual weighted-average asset allocation percentage 95.00% 90.00%
Fixed-income securities | Minimum    
Defined Benefit Plan Disclosure    
Target allocation percentage 50.00%  
Fixed-income securities | Maximum    
Defined Benefit Plan Disclosure    
Target allocation percentage 100.00%  
Cash or cash equivalents    
Defined Benefit Plan Disclosure    
Actual weighted-average asset allocation percentage 5.00% 10.00%
Cash or cash equivalents | Minimum    
Defined Benefit Plan Disclosure    
Target allocation percentage 0.00%  
Cash or cash equivalents | Maximum    
Defined Benefit Plan Disclosure    
Target allocation percentage 100.00%  
v3.25.0.1
Accumulated Other Comprehensive Income - Activity in AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Pretax unrealized losses $ (196) $ 823 $ (8,284)
Other comprehensive income (loss), tax effect 47 (200) 1,967
Other comprehensive (loss) income, net of tax (149) 623 (6,317)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance 19,172 17,327 22,210
Other comprehensive (loss) income, net of tax (149) 623 (6,317)
Ending Balance 19,645 19,172 17,327
AOCI      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive (loss) income, net of tax (149) 623 (6,317)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (4,487) (5,110) 1,207
Other comprehensive (loss) income, net of tax (149) 623 (6,317)
Ending Balance (4,636) (4,487) (5,110)
Net unrealized gains on available-for-sale debt securities      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Available-for-sale debt securities transferred to held-to-maturity securities 27 656 (7,194)
Other comprehensive income (loss), before reclassifications, tax effect (12) (162) 1,716
Other comprehensive income (loss), before reclassifications, net activity 15 494 (5,478)
Reclassification adjustment, pre-tax activity 18 1 (2)
Reclassification adjustment, tax effect (4) 0 0
Reclassification adjustment, net activity 14 1 (2)
Pretax unrealized losses 1,039 657 (7,196)
Other comprehensive income (loss), tax effect (225) (162) 1,716
Other comprehensive (loss) income, net of tax 814 495 (5,480)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (4,094) (4,589) 891
Other comprehensive (loss) income, net of tax 814 495 (5,480)
Ending Balance (3,280) (4,094) (4,589)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale Transferred to Held-to-Maturity, Parent      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Available-for-sale debt securities transferred to held-to-maturity securities (994)    
Other comprehensive income (loss), before reclassifications, tax effect 209    
Other comprehensive income (loss), before reclassifications, net activity (785)    
Reclassification adjustment, pre-tax activity 129    
Reclassification adjustment, tax effect (28)    
Reclassification adjustment, net activity 101    
Pretax unrealized losses (865)    
Other comprehensive income (loss), tax effect 181    
Other comprehensive (loss) income, net of tax (684)    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance 0    
Other comprehensive (loss) income, net of tax (684)    
Ending Balance (684) 0  
Cash flow hedge derivatives      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Available-for-sale debt securities transferred to held-to-maturity securities (724) (171) (1,006)
Other comprehensive income (loss), before reclassifications, tax effect 172 40 232
Other comprehensive income (loss), before reclassifications, net activity (552) (131) (774)
Reclassification adjustment, pre-tax activity 351 334 (99)
Reclassification adjustment, tax effect (81) (77) 22
Reclassification adjustment, net activity 270 257 (77)
Pretax unrealized losses (373) 163 (1,105)
Other comprehensive income (loss), tax effect 91 (37) 254
Other comprehensive (loss) income, net of tax (282) 126 (851)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (372) (498) 353
Other comprehensive (loss) income, net of tax (282) 126 (851)
Ending Balance   (372) (498)
Defined benefit pension plants, net      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Available-for-sale debt securities transferred to held-to-maturity securities (2) (1) 11
Other comprehensive income (loss), before reclassifications, tax effect 0 0 (2)
Other comprehensive income (loss), before reclassifications, net activity (2) (1) 9
Reclassification adjustment, pre-tax activity 3 4 6
Reclassification adjustment, tax effect 0 (1) (1)
Reclassification adjustment, net activity 3 3 5
Pretax unrealized losses 1 3 17
Other comprehensive income (loss), tax effect 0 (1) (3)
Other comprehensive (loss) income, net of tax 1 2 14
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (17) (19) (33)
Other comprehensive (loss) income, net of tax 1 2 14
Ending Balance (16) (17) (19)
Other      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Pretax unrealized losses 2 0 0
Other comprehensive income (loss), tax effect 0 0 0
Other comprehensive (loss) income, net of tax 2 0 0
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning Balance (4) (4) (4)
Other comprehensive (loss) income, net of tax 2 0 0
Ending Balance $ (2) $ (4) $ (4)
v3.25.0.1
Accumulated Other Comprehensive Income - Reclassification Out of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Securities gains (losses), net $ 15 $ 18 $ (84)
Income before income taxes 2,916 2,988 3,093
Applicable income tax expense (602) (639) (647)
Interest and fees on loans and leases 7,477 7,334 4,954
Compensation and benefits [1] (2,763) (2,694) (2,554)
Net Income 2,314 2,349 2,446
Interest on securities 1,839 1,770 1,517
Other noninterest expense [1] 973 1,225 932
Reclassification out of AOCI      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Net Income (390) (261) 74
Reclassification out of AOCI | Net unrealized gains on available-for-sale debt securities      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Securities gains (losses), net (18) (1) 2
Income before income taxes (18) (1) 2
Applicable income tax expense 4 0 0
Net Income (14) (1) 2
Reclassification out of AOCI | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale Transferred to Held-to-Maturity, Parent      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Income before income taxes (129) 0 0
Applicable income tax expense 28 0 0
Net Income (101) 0 0
Interest on securities (129) 0 0
Reclassification out of AOCI | Cash flow hedge derivatives      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Income before income taxes (351) (334) 99
Applicable income tax expense 81 77 (22)
Interest and fees on loans and leases (351) (334) 99
Net Income (270) (257) 77
Reclassification out of AOCI | Amortization of net actuarial loss      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Income before income taxes (3) (4) (6)
Applicable income tax expense 0 1 1
Compensation and benefits (2) (2) (3)
Net Income (3) (3) (5)
Reclassification out of AOCI | Settlements      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Compensation and benefits (1) (2) (3)
Reclassification out of AOCI | Other      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Income before income taxes (2) 0 0
Applicable income tax expense 0 0 0
Net Income (2) 0 0
Other noninterest expense $ (2) $ 0 $ 0
[1] During the fourth quarter of 2024, certain noninterest income and noninterest expense line items were reclassified to better align disclosures to business activities. These reclassifications were retrospectively applied to all prior periods presented. Total noninterest income and noninterest expense did not change as a result of these reclassifications. Refer to Note 1 for additional information.
v3.25.0.1
Common, Preferred and Treasury Stock - Share Activity within Common, Preferred and Treasury Stock (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Value      
Beginning Balance $ 19,172 $ 17,327 $ 22,210
Shares acquired for treasury (630) (201) (100)
Ending Balance 19,645 19,172 17,327
Common Stock      
Value      
Beginning Balance 2,051 2,051 2,051
Ending Balance $ 2,051 $ 2,051 $ 2,051
Shares      
Beginning balance (in shares) 923,892,581 923,892,581 923,892,581
Ending balance (in shares) 923,892,581 923,892,581 923,892,581
Preferred Stock      
Value      
Beginning Balance $ 2,116 $ 2,116 $ 2,116
Ending Balance $ 2,116 $ 2,116 $ 2,116
Shares      
Beginning balance (in shares) 278,000 278,000 278,000
Ending balance (in shares) 278,000 278,000 278,000
Treasury Stock      
Value      
Beginning Balance $ (7,262) $ (7,103) $ (7,024)
Shares acquired for treasury (630) (201) (100)
Impact of stock transactions under stock compensation plans, net 52 42 21
Other     0
Ending Balance $ (7,840) $ (7,262) $ (7,103)
Shares      
Beginning balance (in shares) 242,767,771 240,506,701 241,114,917
Shares acquired for treasury (in shares) 15,043,170 5,589,996 3,079,462
Impact of stock transactions under stock compensation plans, net (in shares) (3,772,190) (3,328,926) (3,687,834)
Other (in shares)     156
Ending balance (in shares) 254,038,751 242,767,771 240,506,701
v3.25.0.1
Common, Preferred and Treasury Stock - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jul. 30, 2020
Sep. 30, 2019
Sep. 17, 2019
Aug. 26, 2019
Jun. 05, 2014
Dec. 09, 2013
May 16, 2013
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2019
Jun. 18, 2019
Class of Stock [Line Items]                          
Preferred stock, liquidation preference per share (in dollars per share) $ 25,000                 $ 25,000 $ 25,000    
Number of shares authorized to be repurchased (in shares)                       100,000,000 100,000,000
Increase in cost basis of stock repurchased due to excise taxes                   $ 5 $ 1    
Preferred stock, Series L                          
Class of Stock [Line Items]                          
Issuance of preferred shares (in shares)     350,000                    
Preferred stock, issued (in shares)     14,000                    
Preferred stock, dividend rate (as a percent)     4.50%                    
Issuance of preferred shares     $ 346                    
Preferred stock, liquidation preference per share (in dollars per share)     $ 25,000                    
Preferred stock, redemption percentage     100.00%                    
Preferred stock, Series L | U.S. Treasury Rate                          
Class of Stock [Line Items]                          
Preferred stock, basis spread on variable rate (as a percent)     4.215%                    
Preferred Stock Series K                          
Class of Stock [Line Items]                          
Issuance of preferred shares (in shares)         10,000,000                
Preferred stock, issued (in shares)         10,000                
Preferred stock, dividend rate (as a percent)         4.95%                
Issuance of preferred shares         $ 242                
Preferred stock, liquidation preference per share (in dollars per share)         $ 25,000                
Preferred Stock Class B, Series A                          
Class of Stock [Line Items]                          
Issuance of preferred shares (in shares)           200,000              
Preferred stock, dividend rate (as a percent)           6.00%              
Preferred stock, liquidation preference per share (in dollars per share) $ 1,000         $ 1,000       $ 1,000 $ 1,000    
Preferred stock, Series J                          
Class of Stock [Line Items]                          
Issuance of preferred shares (in shares)             300,000            
Preferred stock, issued (in shares)             12,000            
Preferred stock, dividend rate (as a percent)             4.90%            
Issuance of preferred shares             $ 297            
Preferred stock, liquidation preference per share (in dollars per share)             $ 25,000            
Preferred stock, Series J | LIBOR                          
Class of Stock [Line Items]                          
Preferred stock, basis spread on variable rate (as a percent)       3.129%                  
Preferred stock, Series J | Secured Overnight Financing Rate (SOFR)                          
Class of Stock [Line Items]                          
Preferred stock, basis spread on variable rate (as a percent)   3.129%                      
Tenor spread adjustment   0.0026161                      
Preferred stock, Series I                          
Class of Stock [Line Items]                          
Issuance of preferred shares (in shares)               18,000,000          
Preferred stock, issued (in shares)               18,000          
Preferred stock, dividend rate (as a percent)               6.625%          
Issuance of preferred shares               $ 441          
Preferred stock, liquidation preference per share (in dollars per share)               $ 25,000          
Preferred stock, Series I | Secured Overnight Financing Rate (SOFR)                          
Class of Stock [Line Items]                          
Preferred stock, basis spread on variable rate (as a percent) 3.71%                        
Tenor spread adjustment 0.0026161                        
Preferred stock, Series H                          
Class of Stock [Line Items]                          
Issuance of preferred shares (in shares)                 600,000        
Preferred stock, issued (in shares)                 24,000        
Preferred stock, dividend rate (as a percent)                 5.10%        
Issuance of preferred shares                 $ 593        
Preferred stock, liquidation preference per share (in dollars per share)                 $ 25,000        
Preferred stock, Series H | LIBOR                          
Class of Stock [Line Items]                          
Preferred stock, basis spread on variable rate (as a percent)                 3.033%        
Preferred stock, Series H | Secured Overnight Financing Rate (SOFR)                          
Class of Stock [Line Items]                          
Preferred stock, basis spread on variable rate (as a percent)   3.033%                      
Tenor spread adjustment   0.0026161                      
v3.25.0.1
Common, Preferred and Treasury Stock - Treasury Stock (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accelerated Share Repurchases [Line Items]      
Amount $ 630 $ 201 $ 100
January 24, 2023 ASR      
Accelerated Share Repurchases [Line Items]      
Amount   $ 200  
Shares Repurchased on Repurchase Date (in shares)   4,911,875  
Shares Received from Forward Contract Settlement (in shares)   678,121  
Total Shares Repurchased (in shares)   5,589,996  
June 12, 2024 ASR      
Accelerated Share Repurchases [Line Items]      
Amount $ 125    
Shares Repurchased on Repurchase Date (in shares) 3,011,621    
Shares Received from Forward Contract Settlement (in shares) 496,767    
Total Shares Repurchased (in shares) 3,508,388    
July 23, 2024 ASR      
Accelerated Share Repurchases [Line Items]      
Amount $ 200    
Shares Repurchased on Repurchase Date (in shares) 4,160,548    
Shares Received from Forward Contract Settlement (in shares) 713,340    
Total Shares Repurchased (in shares) 4,873,888    
October 21, 2024 ASR      
Accelerated Share Repurchases [Line Items]      
Amount $ 300    
Shares Repurchased on Repurchase Date (in shares) 5,879,640    
Shares Received from Forward Contract Settlement (in shares) 781,254    
Total Shares Repurchased (in shares) 6,660,894    
v3.25.0.1
Stock-Based Compensation - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
 9 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Apr. 16, 2024
Dec. 31, 2021
Employee Stock Ownership Plan (ESOP) Disclosures            
Share available for future issuance (in shares) 54,500,000 54,500,000        
The Bancorp's total overhang (potential dilution from share-based compensation) (as a percent) 11.00% 11.00%        
SARs, RSAs, RSUs, stock options and PSAs outstanding as a percentage of issued shares 2.00% 2.00%        
Annual return on tangible common equity performance hurdle (as a percent) 2.00% 2.00%        
Stock-based compensation expense   $ 164 $ 169 $ 165    
Income tax benefit related to stock-based compensation expense   $ 34 $ 35 $ 34    
Options granted (in shares)   0 0 0    
Expected dividend yield   4.20% 3.60% 3.40%    
Expected life (in years)   7 years 7 years 7 years    
Intrinsic value of stock options exercised   $ 2 $ 1 $ 2    
Cash received from stock options exercised   2 $ 1 $ 1    
Aggregate intrinsic value of exercisable options $ 2 $ 2        
Shares vested (in shares)   0 0 0    
2024 Incentive Compensation Plan            
Employee Stock Ownership Plan (ESOP) Disclosures            
Stock authorized for issuance (in shares)         55,000,000  
SARs            
Employee Stock Ownership Plan (ESOP) Disclosures            
Award term   10 years        
Award vesting period   3 years        
Award performance period   3 years        
Stock-based compensation expense   $ 2        
Weighted-average grant-date fair value per share (in dollars per share)   $ 9.71 $ 10.49 $ 12.76    
Total grant-date fair value   $ 3 $ 3 $ 2    
Shares granted (in shares)   316,000 253,000 304,000    
Number of shares/units outstanding (in shares) 4,636,000 4,636,000 7,331,000 9,112,000   11,185,000
Weighted-average period over which expense is expected to be recognized   1 year 9 months 18 days        
Exercisable, weighted- average remaining contractual life (in years)   2 years 8 months 12 days        
SARs | Range 4 [Member]            
Employee Stock Ownership Plan (ESOP) Disclosures            
Number of shares/units outstanding (in shares) 243,000 243,000        
Exercisable, weighted- average remaining contractual life (in years)   7 years 1 month 6 days        
RSAs and RSUs | Tranche One            
Employee Stock Ownership Plan (ESOP) Disclosures            
Award vesting period   3 years        
Award performance period   3 years        
RSAs and RSUs | Tranche Two            
Employee Stock Ownership Plan (ESOP) Disclosures            
Award vesting period   4 years        
Award performance period   4 years        
Stock options            
Employee Stock Ownership Plan (ESOP) Disclosures            
Award term   10 years        
Stock options | Tranche One            
Employee Stock Ownership Plan (ESOP) Disclosures            
Award vesting period   3 years        
Stock options | Tranche Two            
Employee Stock Ownership Plan (ESOP) Disclosures            
Award vesting period   4 years        
Performance shares            
Employee Stock Ownership Plan (ESOP) Disclosures            
Award vesting period   3 years        
Award performance period   3 years        
Percentage of shares that will be forfeited   33.33%        
Weighted-average grant-date fair value per share (in dollars per share)   $ 33.51 $ 37.19 $ 47.03    
Shares granted (in shares)   295,000 256,000 288,000    
Stock awards distributed (in shares)   355,000 395,000 429,000    
Stock award granted, fair value   $ 12 $ 12 $ 11    
Performance shares | Minimum            
Employee Stock Ownership Plan (ESOP) Disclosures            
Stock award granted (in shares)   0        
Performance shares | Maximum            
Employee Stock Ownership Plan (ESOP) Disclosures            
Stock award granted (in shares)   1,200,000        
Restricted Stock Units (RSUs)            
Employee Stock Ownership Plan (ESOP) Disclosures            
Stock-based compensation expense   $ 168        
Total grant-date fair value   $ 141 $ 130 $ 110    
Shares granted (in shares)   4,546,000 4,763,000 4,682,000    
Number of shares/units outstanding (in shares) 10,764,000 10,764,000 10,365,000 9,906,000   9,487,000
Weighted-average period over which expense is expected to be recognized   2 years 3 months 18 days        
Employee Stock            
Employee Stock Ownership Plan (ESOP) Disclosures            
Stock authorized for issuance (in shares)         15,000,000  
Stock-based compensation expense   $ 2 $ 2 $ 2    
Match on qualifying employees purchase of shares of the Bancorp's common stock (as a percent) 15.00% 15.00%        
Stock purchased by plan participants (in shares) 278,000 487,000 768,000 520,000    
Shares cancelled (in shares)         1,800,000  
Available for future issuance (in shares) 14,700,000 14,700,000        
v3.25.0.1
Stock-Based Compensation - Schedule of Share-based Payment, Award, Stock Appreciation Rights, Valuation Assumptions (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Expected life (in years) 7 years 7 years 7 years
Expected volatility 33.00% 31.00% 31.00%
Expected dividend yield 4.20% 3.60% 3.40%
Risk-free interest rate 4.10% 3.80% 2.70%
v3.25.0.1
Stock-Based Compensation - Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity (Details) - SARs - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Number of Non-Option Awards      
Outstanding at beginning of period (in shares) 7,331 9,112 11,185
Granted (in shares) 316 253 304
Exercised (in shares) (3,010) (2,011) (2,358)
Forfeited or expired (in shares) (1) (23) (19)
Outstanding at end of period (in shares) 4,636 7,331 9,112
Exercisable at end of period (in shares) 4,063 6,796 8,487
Weighted- Average Grant Price Per Share      
Outstanding at beginning of period (in dollars per share) $ 23.72 $ 22.22 $ 20.47
Granted (in dollars per share) 33.51 37.19 46.96
Exercised (in dollars per share) 20.01 18.42 17.05
Forfeited or expired (in dollars per share) 19.01 40.36 30.43
Outstanding at end of period (in dollars per share) 26.80 23.72 22.22
Exercisable (in dollars per share) $ 25.39 $ 22.44 $ 20.97
v3.25.0.1
Stock-Based Compensation - Outstanding and Exercisable SARs by Grant Price (Details) - SARs - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award        
Number of shares/units outstanding (in shares) 4,636 7,331 9,112 11,185
Outstanding, weighted-average grant price per share (in dollars per share) $ 26.80 $ 23.72 $ 22.22 $ 20.47
Outstanding, weighted- average remaining contractual life (in years) 3 years 4 months 24 days      
Exercisable, number (in shares) 4,063      
Exercisable, weighted-average grant price per share (in dollars per share) $ 25.39 $ 22.44 $ 20.97  
Exercisable, weighted- average remaining contractual life (in years) 2 years 8 months 12 days      
$10.01-$20.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant price range, lower limit (in usd per share) $ 10.01      
Grant price range, lower limit (in usd per share) $ 20.00      
Number of shares/units outstanding (in shares) 1,673      
Outstanding, weighted-average grant price per share (in dollars per share) $ 18.28      
Outstanding, weighted- average remaining contractual life (in years) 10 months 24 days      
Exercisable, number (in shares) 1,673      
Exercisable, weighted-average grant price per share (in dollars per share) $ 18.28      
Exercisable, weighted- average remaining contractual life (in years) 10 months 24 days      
$20.01-$30.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant price range, lower limit (in usd per share) $ 20.01      
Grant price range, lower limit (in usd per share) $ 30.00      
Number of shares/units outstanding (in shares) 1,615      
Outstanding, weighted-average grant price per share (in dollars per share) $ 27.10      
Outstanding, weighted- average remaining contractual life (in years) 3 years      
Exercisable, number (in shares) 1,615      
Exercisable, weighted-average grant price per share (in dollars per share) $ 27.10      
Exercisable, weighted- average remaining contractual life (in years) 3 years      
$30.01-$40.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant price range, lower limit (in usd per share) $ 30.01      
Grant price range, lower limit (in usd per share) $ 40.00      
Number of shares/units outstanding (in shares) 1,105      
Outstanding, weighted-average grant price per share (in dollars per share) $ 34.27      
Outstanding, weighted- average remaining contractual life (in years) 7 years      
Exercisable, number (in shares) 612      
Exercisable, weighted-average grant price per share (in dollars per share) $ 33.90      
Exercisable, weighted- average remaining contractual life (in years) 5 years 6 months      
Over $40.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant price range, lower limit (in usd per share) $ 40.00      
Number of shares/units outstanding (in shares) 243      
Outstanding, weighted-average grant price per share (in dollars per share) $ 49.51      
Outstanding, weighted- average remaining contractual life (in years) 7 years 1 month 6 days      
Exercisable, number (in shares) 163      
Exercisable, weighted-average grant price per share (in dollars per share) $ 49.51      
Exercisable, weighted- average remaining contractual life (in years) 7 years 1 month 6 days      
v3.25.0.1
Stock-Based Compensation - Schedule of Share-based Compensation, Restricted Stock Units Activity (Details) - RSUs - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Number of Non-Option Awards      
Outstanding at beginning of period (in shares) 10,365 9,906 9,487
Granted (in shares) 4,546 4,763 4,682
Released (in shares) (3,751) (3,696) (3,608)
Forfeited (in shares) (396) (608) (655)
Outstanding at end of period (in shares) 10,764 10,365 9,906
Weighted- Average Grant Price Per Share      
Outstanding at beginning of period (in dollars per share) $ 37.63 $ 38.04 $ 30.67
Granted (in dollars per share) 33.87 34.94 47.11
Released (in dollars per share) 37.54 35.04 30.54
Forfeited (in dollars per share) 36.37 38.75 37.12
Outstanding at end of period (in dollars per share) $ 36.12 $ 37.63 $ 38.04
v3.25.0.1
Stock-Based Compensation - Outstanding RSUs by Grant-Date Fair Value (Details) - RSUs - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award        
Number of shares/units outstanding (in shares) 10,764 10,365 9,906 9,487
  Weighted-Average Remaining Contractual Life (in years) 1 year 1 month 6 days      
Under $25.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant-date fair value range, upper limit (in usd per share) $ 25.00      
Number of shares/units outstanding (in shares) 554      
  Weighted-Average Remaining Contractual Life (in years) 4 months 24 days      
$25.01-$30.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant-date fair value range, lower limit (in usd per share) $ 25.01      
Grant-date fair value range, upper limit (in usd per share) $ 30.00      
Number of shares/units outstanding (in shares) 403      
  Weighted-Average Remaining Contractual Life (in years) 9 months 18 days      
$30.01-$35.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant-date fair value range, lower limit (in usd per share) $ 30.01      
Grant-date fair value range, upper limit (in usd per share) $ 35.00      
Number of shares/units outstanding (in shares) 4,940      
  Weighted-Average Remaining Contractual Life (in years) 1 year 4 months 24 days      
$35.01-$40.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant-date fair value range, lower limit (in usd per share) $ 35.01      
Grant-date fair value range, upper limit (in usd per share) $ 40.00      
Number of shares/units outstanding (in shares) 3,160      
  Weighted-Average Remaining Contractual Life (in years) 1 year 2 months 12 days      
$40.01-$45.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant-date fair value range, lower limit (in usd per share) $ 40.01      
Grant-date fair value range, upper limit (in usd per share) $ 45.00      
Number of shares/units outstanding (in shares) 124      
  Weighted-Average Remaining Contractual Life (in years) 1 year 7 months 6 days      
$45.01 and over        
Share-based Compensation Arrangement by Share-based Payment Award        
Grant-date fair value range, lower limit (in usd per share) $ 45.01      
Number of shares/units outstanding (in shares) 1,583      
  Weighted-Average Remaining Contractual Life (in years) 7 months 6 days      
v3.25.0.1
Stock-Based Compensation - Schedule of Share-based Compensation, Stock Options, Activity (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
  Number of Options      
Outstanding at beginning of period (in shares) 224 312 409
Exercised (in shares) (129) (86) (97)
Forfeited or expired (in shares) 0 (2) 0
Outstanding at end of period (in shares) 95 224 312
Exercisable at end of period (in shares) 95 224 312
Weighted-Average Exercise Price Per Share      
Outstanding at beginning of period (in dollars per share) $ 21.45 $ 21.65 $ 21.51
Exercised (in dollars per share) 21.03 21.97 21.06
Forfeited or expired (in dollars per share) 0 27.71 0
Outstanding at end of period (in dollars per share) 22.03 21.45 21.65
Exercisable at end of period (in dollars per share) $ 22.03 $ 21.45 $ 21.65
v3.25.0.1
Stock-Based Compensation - Schedule of Outstanding And Exercisable Stock Options Exercise Price (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award        
Outstanding stock options, number of options (in shares) 95 224 312 409
Outstanding stock options, weighted - exercise price per share (in dollars per share) $ 22.03 $ 21.45 $ 21.65 $ 21.51
Outstanding stock options, weighted- average remaining contractual life 1 year 9 months 18 days      
Exercisable stock options, number of options (in shares) 95      
Exercisable stock options, weighted - exercise price per share (in usd per share) $ 22.03      
Exercisable stock options, weighted - average remaining contractual life 1 year 9 months 18 days      
$10.01-$20.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Exercise price range, lower limit (in usd per share) $ 10.01      
Exercise price range, upper limit (in usd per share) $ 20.00      
Outstanding stock options, number of options (in shares) 50      
Outstanding stock options, weighted - exercise price per share (in dollars per share) $ 18.58      
Outstanding stock options, weighted- average remaining contractual life 9 months 18 days      
Exercisable stock options, number of options (in shares) 50      
Exercisable stock options, weighted - exercise price per share (in usd per share) $ 18.58      
Exercisable stock options, weighted - average remaining contractual life 9 months 18 days      
$20.01-$30.00        
Share-based Compensation Arrangement by Share-based Payment Award        
Exercise price range, lower limit (in usd per share) $ 20.01      
Exercise price range, upper limit (in usd per share) $ 30.00      
Outstanding stock options, number of options (in shares) 45      
Outstanding stock options, weighted - exercise price per share (in dollars per share) $ 25.86      
Outstanding stock options, weighted- average remaining contractual life 2 years 9 months 18 days      
Exercisable stock options, number of options (in shares) 45      
Exercisable stock options, weighted - exercise price per share (in usd per share) $ 25.86      
Exercisable stock options, weighted - average remaining contractual life 2 years 9 months 18 days      
v3.25.0.1
Other Noninterest Income and Other Noninterest Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other noninterest income:      
BOLI income $ 66 $ 61 $ 64
Private equity investment income 35 44 70
Equity method investment income 18 52 22
Income from the TRA associated with Worldpay, Inc. 11 22 46
Gains (losses) on sales of businesses 7 0 (7)
Loss on swap associated with the sale of Visa, Inc. Class B Shares (138) (94) (84)
Other, net 13 6 38
Total other noninterest income 12 91 149
Other noninterest expense:      
FDIC insurance and other taxes 181 385 132
Leasing business expense 92 121 131
Losses and adjustments 86 91 91
Data processing 81 87 82
Dues and subscriptions 61 61 58
Travel 60 56 60
Professional service fees 49 53 54
Securities recordkeeping 55 50 48
Cash and coin processing 47 48 44
Intangible amortization 35 43 47
Postal and courier 48 46 40
Other, net 178 184 145
Total other noninterest expense [1] $ 973 $ 1,225 $ 932
[1] During the fourth quarter of 2024, certain noninterest income and noninterest expense line items were reclassified to better align disclosures to business activities. These reclassifications were retrospectively applied to all prior periods presented. Total noninterest income and noninterest expense did not change as a result of these reclassifications. Refer to Note 1 for additional information.
v3.25.0.1
Earnings Per Share - Calculation of Earnings Per Share and the Reconciliation of Earnings Per Share to Earnings Per Diluted Share (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]      
Net income available to common shareholders $ 2,155 $ 2,212 $ 2,330
Less: Income allocated to participating securities 0 0 2
Net income allocated to common shareholders $ 2,155 $ 2,212 $ 2,328
Average common shares outstanding - basic (in shares) 682,160,985 684,172,079 688,633,659
Effect of dilutive stock-based awards (in shares) 5,000,000 4,000,000 6,000,000
Average common shares outstanding - diluted (in shares) 687,300,837 687,678,291 694,952,038
Earnings per share - basic (in dollars per share) $ 3.16 $ 3.23 $ 3.38
Earnings per share - diluted (in dollars per share) $ 3.14 $ 3.22 $ 3.35
Anti-dilutive stock-based awards excluded from diluted shares (in shares) 1,000,000 6,000,000 3,000,000
v3.25.0.1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets:      
Available-for-sale debt and other securities $ 39,547 $ 50,419  
Equity securities 341 613  
Derivative assets 2,472 2,677  
Liabilities:      
Total derivative liabilities $ 2,798 $ 2,999  
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other liabilities Other liabilities Other liabilities
Residential mortgage      
Assets:      
Residential mortgage loans $ 108 $ 116  
U.S. Treasury and federal agencies securities      
Assets:      
Available-for-sale debt and other securities 4,360 4,336  
Obligations of states and political subdivisions securities      
Assets:      
Available-for-sale debt and other securities 0 2  
Asset-backed securities and other debt securities      
Assets:      
Available-for-sale debt and other securities 3,729 4,912  
Other securities      
Assets:      
Available-for-sale debt and other securities 778 722  
Liabilities:      
FHLB, restricted stock holdings 276 224  
FRB, restricted stock holdings 500 496  
DTCC, restricted stock holdings 2 2  
Level 3     | Interest rate contracts      
Assets:      
Derivative assets 2 6 $ 7
Liabilities:      
Total derivative liabilities 5 6 $ 8
Recurring      
Assets:      
Available-for-sale debt and other securities 38,769 49,697  
Trading debt securities 1,185 899  
Equity securities 341 613  
Residential mortgage loans held for sale 574 334  
Derivative assets 2,472 2,677  
Total assets 45,153 56,073  
Liabilities:      
Total derivative liabilities 2,798 2,999  
Short positions 316 107  
Total liabilities 3,114 3,106  
Recurring | Interest rate contracts      
Assets:      
Derivative assets 730 983  
Liabilities:      
Total derivative liabilities 944 1,213  
Recurring | Foreign exchange contracts      
Assets:      
Derivative assets 1,167 643  
Liabilities:      
Total derivative liabilities 1,120 600  
Recurring | Equity contracts      
Liabilities:      
Total derivative liabilities 170 168  
Recurring | Commodity contracts      
Assets:      
Derivative assets 575 1,051  
Liabilities:      
Total derivative liabilities 564 1,018  
Recurring | Servicing rights      
Assets:      
Servicing rights 1,704 1,737  
Recurring | Residential mortgage      
Assets:      
Residential mortgage loans 108 116  
Recurring | U.S. Treasury and federal agencies securities      
Assets:      
Available-for-sale debt and other securities 4,360 4,336  
Trading debt securities 626 647  
Liabilities:      
Short positions 139 31  
Recurring | Obligations of states and political subdivisions securities      
Assets:      
Available-for-sale debt and other securities 0 2  
Trading debt securities 120 39  
Recurring | Agency mortgage-backed securities | Residential mortgage      
Assets:      
Available-for-sale debt and other securities 5,681 10,282  
Trading debt securities 10 6  
Recurring | Agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 20,832 25,720  
Recurring | Non-agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 4,167 4,445  
Recurring | Asset-backed securities and other debt securities      
Assets:      
Available-for-sale debt and other securities 3,729 4,912  
Trading debt securities 429 207  
Liabilities:      
Short positions 156 76  
Recurring | Equity securities      
Liabilities:      
Short positions 21    
Recurring | Level 1      
Assets:      
Available-for-sale debt and other securities 4,360 4,336  
Trading debt securities 591 640  
Equity securities 307 600  
Residential mortgage loans held for sale 0 0  
Derivative assets 82 205  
Total assets 5,340 5,781  
Liabilities:      
Total derivative liabilities 57 33  
Short positions 160 31  
Total liabilities 217 64  
Recurring | Level 1 | Interest rate contracts      
Assets:      
Derivative assets 7 0  
Liabilities:      
Total derivative liabilities 0 5  
Recurring | Level 1 | Foreign exchange contracts      
Assets:      
Derivative assets 0 0  
Liabilities:      
Total derivative liabilities 0 0  
Recurring | Level 1 | Equity contracts      
Liabilities:      
Total derivative liabilities 0 0  
Recurring | Level 1 | Commodity contracts      
Assets:      
Derivative assets 75 205  
Liabilities:      
Total derivative liabilities 57 28  
Recurring | Level 1 | Servicing rights      
Assets:      
Servicing rights 0 0  
Recurring | Level 1 | Residential mortgage      
Assets:      
Residential mortgage loans 0 0  
Recurring | Level 1 | U.S. Treasury and federal agencies securities      
Assets:      
Available-for-sale debt and other securities 4,360 4,336  
Trading debt securities 591 640  
Liabilities:      
Short positions 139 31  
Recurring | Level 1 | Obligations of states and political subdivisions securities      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Recurring | Level 1 | Agency mortgage-backed securities | Residential mortgage      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Recurring | Level 1 | Agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 0 0  
Recurring | Level 1 | Non-agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 0 0  
Recurring | Level 1 | Asset-backed securities and other debt securities      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Liabilities:      
Short positions 0 0  
Recurring | Level 1 | Equity securities      
Liabilities:      
Short positions 21    
Recurring | Level 2      
Assets:      
Available-for-sale debt and other securities 34,409 45,361  
Trading debt securities 594 259  
Equity securities 34 13  
Residential mortgage loans held for sale 574 334  
Derivative assets 2,388 2,466  
Total assets 37,999 48,433  
Liabilities:      
Total derivative liabilities 2,566 2,792  
Short positions 156 76  
Total liabilities 2,722 2,868  
Recurring | Level 2 | Interest rate contracts      
Assets:      
Derivative assets 721 977  
Liabilities:      
Total derivative liabilities 939 1,202  
Recurring | Level 2 | Foreign exchange contracts      
Assets:      
Derivative assets 1,167 643  
Liabilities:      
Total derivative liabilities 1,120 600  
Recurring | Level 2 | Equity contracts      
Liabilities:      
Total derivative liabilities 0 0  
Recurring | Level 2 | Commodity contracts      
Assets:      
Derivative assets 500 846  
Liabilities:      
Total derivative liabilities 507 990  
Recurring | Level 2 | Servicing rights      
Assets:      
Servicing rights 0 0  
Recurring | Level 2 | Residential mortgage      
Assets:      
Residential mortgage loans 0 0  
Recurring | Level 2 | U.S. Treasury and federal agencies securities      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 35 7  
Liabilities:      
Short positions 0 0  
Recurring | Level 2 | Obligations of states and political subdivisions securities      
Assets:      
Available-for-sale debt and other securities 0 2  
Trading debt securities 120 39  
Recurring | Level 2 | Agency mortgage-backed securities | Residential mortgage      
Assets:      
Available-for-sale debt and other securities 5,681 10,282  
Trading debt securities 10 6  
Recurring | Level 2 | Agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 20,832 25,720  
Recurring | Level 2 | Non-agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 4,167 4,445  
Recurring | Level 2 | Asset-backed securities and other debt securities      
Assets:      
Available-for-sale debt and other securities 3,729 4,912  
Trading debt securities 429 207  
Liabilities:      
Short positions 156 76  
Recurring | Level 2 | Equity securities      
Liabilities:      
Short positions 0    
Recurring | Level 3          
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Equity securities 0 0  
Residential mortgage loans held for sale 0 0  
Derivative assets 2 6  
Total assets 1,814 1,859  
Liabilities:      
Total derivative liabilities 175 174  
Short positions 0 0  
Total liabilities 175 174  
Recurring | Level 3     | Interest rate contracts      
Assets:      
Derivative assets 2 6  
Liabilities:      
Total derivative liabilities 5 6  
Recurring | Level 3     | Foreign exchange contracts      
Assets:      
Derivative assets 0 0  
Liabilities:      
Total derivative liabilities 0 0  
Recurring | Level 3     | Equity contracts      
Liabilities:      
Total derivative liabilities 170 168  
Recurring | Level 3     | Commodity contracts      
Assets:      
Derivative assets 0 0  
Liabilities:      
Total derivative liabilities 0 0  
Recurring | Level 3     | Servicing rights      
Assets:      
Servicing rights 1,704 1,737  
Recurring | Level 3     | Residential mortgage      
Assets:      
Residential mortgage loans 108 116  
Recurring | Level 3     | U.S. Treasury and federal agencies securities      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Liabilities:      
Short positions 0 0  
Recurring | Level 3     | Obligations of states and political subdivisions securities      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Recurring | Level 3     | Agency mortgage-backed securities | Residential mortgage      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Recurring | Level 3     | Agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 0 0  
Recurring | Level 3     | Non-agency mortgage-backed securities | Commercial      
Assets:      
Available-for-sale debt and other securities 0 0  
Recurring | Level 3     | Asset-backed securities and other debt securities      
Assets:      
Available-for-sale debt and other securities 0 0  
Trading debt securities 0 0  
Liabilities:      
Short positions 0 $ 0  
Recurring | Level 3     | Equity securities      
Liabilities:      
Short positions $ 0    
v3.25.0.1
Fair Value Measurements - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Net fair value of the interest rate lock commitments $ 2  
Change in the fair value of the interest rate lock commitments, due to decrease in current interest rates of 25 bps 2  
Change in the fair value of the interest rate lock commitments, due to decrease in current interest rates of 50 bps 3  
Change in the fair value of the interest rate lock commitments, due to increase in current interest rates of 25 bps 2  
Change in the fair value of the interest rate lock commitments, due to increase in current interest rates of 50 bps 4  
Change in fair value of interest rate lock commitments, due to 10% favorable changes in the assumed loan closing rates 0  
Change in fair value of interest rate lock commitments, due to 20% favorable changes in the assumed loan closing rates 0  
Change in fair value of interest rate lock commitments, due to 20% adverse changes in the assumed loan closing rates 0  
Change in fair value of interest rate lock commitments, due to 10% adverse changes in the assumed loan closing rates 0  
Private equity, observable price change adjustment 11 $ 0
Private equity, cumulative observable price change 20  
Private equity, impairment 0 2
Private equity, cumulative impairment 15  
Residential Mortgage    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Fair value changes included in earnings for instruments for which the fair value option was elected 11 6
FVO valuation adjustments related to instrument-specific credit risk $ 0 $ 0
v3.25.0.1
Fair Value Measurements - Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation      
Balance, beginning of period $ 1,685 $ 1,673 $ 1,065
Included in earnings (175) (144) 97
Purchases/originations 48 93 449
Sales (5)    
Settlements 82 57 52
Transfers into Level 3 4 6 10
Balance, end of period 1,639 1,685 1,673
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held (119) (115) 215
Derivative assets 2,472 2,677  
Derivative liabilities 2,798 2,999  
Unrealized gains or losses included in other comprehensive income for instruments still held 0 0 0
Interest Rate Contract | Level 3          
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation      
Derivative assets 2 6 7
Derivative liabilities 5 6 8
Residential Mortgage Loans      
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation      
Balance, beginning of period 116 123 154
Included in earnings (1) 2 (18)
Purchases/originations 0 0 0
Sales 0    
Settlements (11) (15) (23)
Transfers into Level 3 4 6 10
Balance, end of period 108 116 123
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held (1) 2 (18)
Servicing Rights      
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation      
Balance, beginning of period 1,737 1,746 1,121
Included in earnings (77) (105) 177
Purchases/originations 49 96 448
Sales (5)    
Settlements 0 0 0
Transfers into Level 3 0 0 0
Balance, end of period 1,704 1,737 1,746
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held 14 (28) 311
Interest Rate Contract      
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation      
Balance, beginning of period 0 (1) 4
Included in earnings 41 53 22
Purchases/originations (1) (3) 1
Sales 0    
Settlements (43) (49) (28)
Transfers into Level 3 0 0 0
Balance, end of period (3) 0 (1)
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held 6 5 6
Equity Derivatives      
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation      
Balance, beginning of period (168) (195) (214)
Included in earnings (138) (94) (84)
Purchases/originations 0 0 0
Sales 0    
Settlements 136 121 103
Transfers into Level 3 0 0 0
Balance, end of period (170) (168) (195)
The amount of total (losses) gains for the period included in earnings attributable to the change in unrealized gains or losses relating to instruments still held $ (138) $ (94) $ (84)
v3.25.0.1
Fair Value Measurements - Total Gains and Losses Included in Earnings for Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Mortgage banking net revenue      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Fees and Commissions, Mortgage Banking and Servicing Fees and Commissions, Mortgage Banking and Servicing Fees and Commissions, Mortgage Banking and Servicing
Capital markets fees      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Capital markets fees Capital markets fees Capital markets fees
Other noninterest income      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Noninterest Income, Other Operating Income Noninterest Income, Other Operating Income Noninterest Income, Other Operating Income
Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gains and losses included in earnings $ (175) $ (144) $ 97
Level 3     | Mortgage banking net revenue      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gains and losses included in earnings (38) (54) 177
Level 3     | Capital markets fees      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gains and losses included in earnings 2 4 4
Level 3     | Other noninterest income      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gains and losses included in earnings $ (139) $ (94) $ (84)
v3.25.0.1
Fair Value Measurements - Total Gains and Losses Included in Earning Attributable to Changes in Unrealized Gains and Losses Related to Level 3 Assets and Liabilities Still Held at Year End (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gain and losses included in earnings $ (119) $ (115) $ 215
Mortgage banking net revenue      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Fees and Commissions, Mortgage Banking and Servicing Fees and Commissions, Mortgage Banking and Servicing Fees and Commissions, Mortgage Banking and Servicing
Mortgage banking net revenue | Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gain and losses included in earnings $ 18 $ (25) $ 295
Capital markets fees      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Capital markets fees Capital markets fees Capital markets fees
Capital markets fees | Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gain and losses included in earnings $ 2 $ 4 $ 4
Other noninterest income      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Noninterest Income, Other Operating Income Noninterest Income, Other Operating Income Noninterest Income, Other Operating Income
Other noninterest income | Level 3          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis      
Gain and losses included in earnings $ (139) $ (94) $ (84)
v3.25.0.1
Fair Value Measurements - Fair Values of Assets and Liabilities (Significant Unobservable Level 3 Inputs Recurring Basis) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Derivative assets $ 2,472 $ 2,677
Derivative liabilities (2,798) (2,999)
Residential mortgage loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Residential mortgage loans $ 108 $ 116
Residential mortgage loans | Minimum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Interest rate risk factor (51.90%) (23.40%)
Credit risk factor 0.00% 0.00%
Residential mortgage loans | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Interest rate risk factor 4.60% 3.40%
Credit risk factor 0.50% 0.60%
Residential mortgage loans | Weighted-Average    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Interest rate risk factor (13.30%) (11.60%)
Credit risk factor 0.20% 0.20%
Servicing rights    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Servicing rights $ 1,704 $ 1,737
Servicing rights | Minimum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Prepayment speed 0.00% 0.00%
OAS (bps) 0.0420 0.0477
Servicing rights | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Prepayment speed 100.00% 100.00%
OAS (bps) 0.1823 0.1447
Servicing rights | Fixed | Weighted-Average    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Prepayment speed 5.80% 5.90%
OAS (bps) 0.0459 0.0569
Servicing rights | Adjustable | Weighted-Average    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Prepayment speed 16.90% 20.30%
OAS (bps) 0.0731 0.1016
IRLCs, net    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Derivative assets $ 2 $ 5
IRLCs, net | Minimum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Loan closing rates 20.80% 20.90%
IRLCs, net | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Loan closing rates 96.00% 96.00%
IRLCs, net | Weighted-Average    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Loan closing rates 83.50% 82.30%
Swap    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Derivative liabilities $ (170) $ (168)
Swap | Minimum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Timing of the resolution of the Covered Litigation Jun. 30, 2027 Dec. 31, 2024
Swap | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Timing of the resolution of the Covered Litigation Mar. 31, 2028 Mar. 31, 2027
Swap | Weighted-Average    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Timing of the resolution of the Covered Litigation Dec. 31, 2027 Dec. 31, 2025
v3.25.0.1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - Nonrecurring - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value $ 401 $ 388
Total (Losses) Gains (255) (186)
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 3 0
Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 398 388
OREO    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 2 18
Total (Losses) Gains (2) (8)
OREO | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
OREO | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
OREO | Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 2 18
Bank premises and equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 7 15
Total (Losses) Gains (1) (2)
Bank premises and equipment | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Bank premises and equipment | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Bank premises and equipment | Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 7 15
Operating lease equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value   2
Total (Losses) Gains   0
Operating lease equipment | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value   0
Operating lease equipment | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value   0
Operating lease equipment | Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value   2
Private equity investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 3 0
Total (Losses) Gains 11 (2)
Private equity investments | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Private equity investments | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 3 0
Private equity investments | Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Commercial | Commercial loans held for sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 6 1
Total (Losses) Gains (1) 0
Commercial | Commercial loans held for sale | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Commercial | Commercial loans held for sale | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Commercial | Commercial loans held for sale | Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 6 1
Commercial | Commercial loans and leases    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 168 163
Total (Losses) Gains (245) (162)
Commercial | Commercial loans and leases | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Commercial | Commercial loans and leases | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Commercial | Commercial loans and leases | Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 168 163
Consumer | Consumer and residential mortgage loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 215 189
Total (Losses) Gains (17) (12)
Consumer | Consumer and residential mortgage loans | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Consumer | Consumer and residential mortgage loans | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Consumer | Consumer and residential mortgage loans | Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value $ 215 $ 189
v3.25.0.1
Fair Value Measurements - Fair Values of Assets and Liabilities (Significant Unobservable Level 3 Inputs Nonrecurring Basis) (Details) - Nonrecurring - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value $ 401 $ 388
OREO    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 2 18
Bank premises and equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 7 15
Operating lease equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value   2
Private equity investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 3 0
Commercial | Commercial loans held for sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 6 1
Commercial | Commercial loans and leases    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 168 163
Consumer | Consumer and residential mortgage loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 215 189
Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 398 388
Level 3     | OREO    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 2 18
Level 3     | Bank premises and equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 7 15
Level 3     | Operating lease equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value   2
Level 3     | Private equity investments    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 0 0
Level 3     | Commercial | Commercial loans held for sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 6 1
Level 3     | Commercial | Commercial loans and leases    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 168 163
Level 3     | Consumer | Consumer and residential mortgage loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 215 189
Level 3     | Comparable company analysis | Commercial | Commercial loans held for sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 6 1
Level 3     | Appraised value | OREO    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 2 18
Level 3     | Appraised value | Bank premises and equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 7 15
Level 3     | Appraised value | Operating lease equipment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value   2
Level 3     | Appraised value | Commercial | Commercial loans and leases    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value 168 163
Level 3     | Appraised value | Consumer | Consumer and residential mortgage loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, fair value $ 215 $ 189
v3.25.0.1
Fair Value Measurements - Difference Between the Aggregate Fair Value and the Aggregate Unpaid Principal Balance for Residential Mortgage Loans Measured at Fair Value (Details) - Residential mortgage loans - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Aggregate  Fair Value    
Loans measured at fair value $ 682 $ 450
Past due loans of 30-89 days 1 1
Past due loans of 90 days or more 1  
Nonaccrual loans 2 2
Aggregate Unpaid Principal Balance    
Loans measured at fair value 693 456
Past due loans of 30-89 days 1 1
Past due loans of 90 days or more 1  
Nonaccrual loans 2 2
Difference    
Loans measured at fair value (11) (6)
Past due loans of 30-89 days 0 0
Past due loans of 90 days or more 0  
Nonaccrual loans $ 0 $ 0
v3.25.0.1
Fair Value Measurements - Carrying Amounts and Estimated Fair Values for Certain Financial Instruments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financial assets:    
Other short-term investments [1] $ 17,120 $ 22,082
Held-to-maturity securities 11,278 2
Loans and leases held for sale 640 378
Total portfolio loans and leases, net 117,439 114,912
Financial liabilities:    
Deposits 167,252 168,912
Federal funds purchased 204 193
Other short-term borrowings 4,450 2,861
Long-term debt [1] 14,337 16,380
Net Carrying Amount    
Financial assets:    
Cash 3,014 3,142
Other short-term investments 17,120 22,082
Other securities 778 722
Held-to-maturity securities 11,278 2
Loans and leases held for sale 66 44
Total portfolio loans and leases, net 117,331 114,796
Financial liabilities:    
Deposits 167,252 168,912
Federal funds purchased 204 193
Other short-term borrowings 4,450 2,861
Long-term debt 14,440 16,418
Net Carrying Amount | Commercial    
Financial assets:    
Total portfolio loans and leases, net 72,139 71,616
Net Carrying Amount | Consumer    
Financial assets:    
Total portfolio loans and leases, net 45,192 43,180
Total Fair Value    
Financial assets:    
Cash 3,014 3,142
Other short-term investments 17,120 22,082
Other securities 778 722
Held-to-maturity securities 10,965 2
Loans and leases held for sale 66 44
Total portfolio loans and leases, net 114,474 113,176
Financial liabilities:    
Deposits 167,353 168,873
Federal funds purchased 204 193
Other short-term borrowings 4,459 2,872
Long-term debt 14,588 16,384
Total Fair Value | Commercial    
Financial assets:    
Total portfolio loans and leases, net 72,319 71,766
Total Fair Value | Consumer    
Financial assets:    
Total portfolio loans and leases, net 42,155 41,410
Total Fair Value | Level 1    
Financial assets:    
Cash 3,014 3,142
Other short-term investments 17,120 22,082
Other securities 0 0
Held-to-maturity securities 2,344 0
Loans and leases held for sale 0 0
Total portfolio loans and leases, net 0 0
Financial liabilities:    
Deposits 0 0
Federal funds purchased 204 193
Other short-term borrowings 0 0
Long-term debt 3,753 14,481
Total Fair Value | Level 1 | Commercial    
Financial assets:    
Total portfolio loans and leases, net 0 0
Total Fair Value | Level 1 | Consumer    
Financial assets:    
Total portfolio loans and leases, net 0 0
Total Fair Value | Level 2    
Financial assets:    
Cash 0 0
Other short-term investments 0 0
Other securities 778 722
Held-to-maturity securities 8,619 0
Loans and leases held for sale 0 0
Total portfolio loans and leases, net 0 0
Financial liabilities:    
Deposits 167,353 168,873
Federal funds purchased 0 0
Other short-term borrowings 4,459 2,872
Long-term debt 10,835 1,903
Total Fair Value | Level 2 | Commercial    
Financial assets:    
Total portfolio loans and leases, net 0 0
Total Fair Value | Level 2 | Consumer    
Financial assets:    
Total portfolio loans and leases, net 0 0
Total Fair Value | Level 3        
Financial assets:    
Cash 0 0
Other short-term investments 0 0
Other securities 0 0
Held-to-maturity securities 2 2
Loans and leases held for sale 66 44
Total portfolio loans and leases, net 114,474 113,176
Financial liabilities:    
Deposits 0 0
Federal funds purchased 0 0
Other short-term borrowings 0 0
Long-term debt 0 0
Total Fair Value | Level 3     | Commercial    
Financial assets:    
Total portfolio loans and leases, net 72,319 71,766
Total Fair Value | Level 3     | Consumer    
Financial assets:    
Total portfolio loans and leases, net $ 42,155 $ 41,410
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
v3.25.0.1
Regulatory Capital Requirements and Capital Ratios (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Risk Based Ratios    
Banking regulation, capital conservation buffer, capital conserved, minimum 0.032 0.025
Fifth Third Bancorp    
Risk Based Ratios    
CET1 capital (as a percent) 0.1057 0.1029
Tier I risk-based capital (as a percent) 0.1186 0.1159
Total risk-based capital (as a percent) 0.1386 0.1372
Tier I leverage (as a percent) 0.0922 0.0873
Risk Based Capital    
CET1 capital $ 17,339 $ 16,800
Tier I risk-based capital 19,455 18,916
Total risk-based capital 22,746 22,400
Tier I leverage $ 19,455 $ 18,916
Fifth Third Bancorp | Well-Capitalized    
Risk Based Ratios    
Tier I risk-based capital (as a percent) 0.0600  
Total risk-based capital (as a percent) 0.1000  
Fifth Third Bancorp | Minimum          
Risk Based Ratios    
CET1 capital (as a percent) 0.0450  
Tier I risk-based capital (as a percent) 0.0600  
Total risk-based capital (as a percent) 0.0800  
Tier I leverage (as a percent) 0.0400  
Fifth Third Bank, National Association    
Risk Based Ratios    
CET1 capital (as a percent) 0.1286 0.1242
Tier I risk-based capital (as a percent) 0.1286 0.1242
Total risk-based capital (as a percent) 0.1419 0.1385
Tier I leverage (as a percent) 0.1002 0.0938
Risk Based Capital    
CET1 capital $ 20,943 $ 20,147
Tier I risk-based capital 20,943 20,147
Total risk-based capital 23,116 22,463
Tier I leverage $ 20,943 $ 20,147
Fifth Third Bank, National Association | Well-Capitalized    
Risk Based Ratios    
CET1 capital (as a percent) 0.0650  
Tier I risk-based capital (as a percent) 0.0800  
Total risk-based capital (as a percent) 0.1000  
Tier I leverage (as a percent) 0.0500  
Fifth Third Bank, National Association | Minimum          
Risk Based Ratios    
CET1 capital (as a percent) 0.0450  
Tier I risk-based capital (as a percent) 0.0600  
Total risk-based capital (as a percent) 0.0800  
Tier I leverage (as a percent) 0.0400  
v3.25.0.1
Parent Company Financial Statements - Condensed Statements of Income - Parent Company Only (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income      
Dividends from consolidated nonbank subsidiaries $ 1,800 $ 1,800  
Securities gains (losses), net 15 18 $ (84)
Total interest income 10,426 9,760 6,587
Expenses      
Interest 4,796 3,933 978
Other 178 184 145
Applicable income tax expense 602 639 647
Net Income 2,314 2,349 2,446
Other Comprehensive Income (149) 623 (6,317)
Parent Company      
Income      
Dividends from consolidated nonbank subsidiaries 1,800 1,819 165
Securities gains (losses), net 3 4 (9)
Interest 85 63 11
Total interest income 1,888 1,886 167
Expenses      
Interest 553 525 311
Other 27 39 19
Total expenses 580 564 330
Income (Loss) Before Income Taxes and Equity in Undistributed Earnings of Subsidiaries 1,308 1,322 (163)
Applicable income tax expense (115) (112) (76)
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries 1,423 1,434 (87)
Equity in undistributed earnings 891 915 2,533
Net Income 2,314 2,349 2,446
Other Comprehensive Income 0 0 0
Comprehensive Income 2,314 2,349 2,446
Dividends from Bancorp's banking subsidiary to the Bancorp's non-bank subsidiary $ 1,800 $ 1,800 $ 0
v3.25.0.1
Parent Company Financial Statements - Condensed Balance Sheet - Parent Company Only (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets        
Available-for-sale debt and other securities $ 39,547 $ 50,419    
Equity securities 341 613    
Goodwill 4,918 4,919 $ 4,915  
Other assets [1] 12,857 12,538    
Total Assets 212,927 214,574    
Liabilities        
Other short-term borrowings 4,450 2,861    
Accrued expenses and other liabilities [1] 4,902 4,861    
Long-term debt (external) [1] 14,337 16,380    
Total Liabilities 193,282 195,402    
Equity        
Common stock [2] 2,051 2,051    
Preferred stock [3] 2,116 2,116    
Capital surplus 3,804 3,757    
Retained earnings 24,150 22,997    
Accumulated other comprehensive loss (4,636) (4,487)    
Treasury stock [2] (7,840) (7,262)    
Total Equity 19,645 19,172 17,327 $ 22,210
Total Liabilities and Equity 212,927 214,574    
Parent Company        
Assets        
Cash 969 120 $ 120 $ 122
Other short-term investments 3,106 6,500    
Available-for-sale debt and other securities 2,500 1,000    
Equity securities 29 34    
Loans to nonbank subsidiaries 5 0    
Investment in nonbank subsidiaries 22,891 21,998    
Goodwill 80 80    
Other assets 156 179    
Total Assets 29,736 29,911    
Liabilities        
Other short-term borrowings 3 0    
Accrued expenses and other liabilities 567 631    
Long-term debt (external) 9,521 10,108    
Total Liabilities 10,091 10,739    
Equity        
Common stock 2,051 2,051    
Preferred stock 2,116 2,116    
Capital surplus 3,804 3,757    
Retained earnings 24,150 22,997    
Accumulated other comprehensive loss (4,636) (4,487)    
Treasury stock (7,840) (7,262)    
Total Equity 19,645 19,172    
Total Liabilities and Equity $ 29,736 $ 29,911    
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
[2] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at December 31, 2024 – 669,853,830 (excludes 254,038,751 treasury shares), 2023 – 681,124,810 (excludes 242,767,771 treasury shares).
[3]
(c)500,000 shares of no par value preferred stock were authorized at both December 31, 2024 and 2023. There were 422,000 unissued shares of undesignated no par value preferred stock at both December 31, 2024 and 2023. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both December 31, 2024 and 2023. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both December 31, 2024 and 2023. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.
v3.25.0.1
Parent Company Financial Statements - Condensed Statement of Cash Flow - Parent Company Only (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net Income $ 2,314 $ 2,349 $ 2,446
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 495 462 436
Provision for (benefit from) deferred income taxes 72 (106) (60)
Equity in undistributed earnings (18) (52) (22)
Net change in:      
Equity securities (3) (128) 70
Other assets (625) 326 646
Net Cash Provided by Operating Activities 2,824 4,509 6,428
Investing Activities      
Proceeds from repayments / maturities of AFS and HTM securities and other investments 5,814 4,235 4,495
Other short-term investments 4,962 (13,731) 26,224
Net Cash Provided by (Used in) Investing Activities 1,039 (9,488) (4,871)
Financing Activities      
Proceeds from long-term debt issuances/advances 3,249 4,286 4,026
Repayment of long-term debt (5,282) (1,657) (1,762)
Dividends paid on common and preferred stock (1,176) (1,060) (927)
Repurchase of treasury stock and related forward contract (625) (200) (100)
Other, net (65) (55) (85)
Net Cash (Used in) Provided by Financing Activities (3,991) 4,655 (1,085)
(Decrease) Increase in Cash and Due from Banks (128) (324) 472
Parent Company      
Operating Activities      
Net Income 2,314 2,349 2,446
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion 7 7 7
Provision for (benefit from) deferred income taxes 2 1 (3)
Securities (gains) losses, net (3) (4) 9
Equity in undistributed earnings (891) (915) (2,533)
Net change in:      
Equity securities 8 4 6
Other assets (49) 147 (115)
Accrued expenses and other liabilities (60) (126) 45
Net Cash Provided by Operating Activities 1,328 1,463 (138)
Investing Activities      
Proceeds from repayments / maturities of AFS and HTM securities and other investments 1,000 1,000 0
Purchase of securities issued by subsidiary (2,500) (1,000) (1,000)
Other short-term investments 3,394 (833) 567
Loans to nonbank subsidiaries (5) 60 132
Net Cash Provided by (Used in) Investing Activities 1,889 (773) (301)
Financing Activities      
Net change in other short-term borrowings 3 (121) (240)
Proceeds from long-term debt issuances/advances 1,742 1,244 2,986
Repayment of long-term debt (2,250) (500) (1,200)
Dividends paid on common and preferred stock (1,176) (1,060) (927)
Repurchase of treasury stock and related forward contract (625) (200) (100)
Other, net (62) (53) (82)
Net Cash (Used in) Provided by Financing Activities (2,368) (690) 437
(Decrease) Increase in Cash and Due from Banks 849 0 (2)
Cash and Due from Banks at Beginning of Period 120 120 122
Cash and Due from Banks at End of Period $ 969 $ 120 $ 120
v3.25.0.1
Subsequent Events (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Jan. 28, 2025
Jan. 22, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jun. 30, 2019
Jun. 18, 2019
Subsequent Event [Line Items]              
Payment to repurchase shares of common stock     $ 625 $ 200 $ 100    
Number of shares authorized to be repurchased (in shares)           100 100
Subsequent Event              
Subsequent Event [Line Items]              
Payment to repurchase shares of common stock   $ 225          
Subsequent Event | Fixed Rate Floating Rate 4.967% Senior Notes Due 2028 | Senior Notes              
Subsequent Event [Line Items]              
Principal amount $ 700            
Interest rate (as a percent) 4.967%            
Basis spread on variable rate (as a percent) 0.81%            
Subsequent Event | Fixed Rate Floating Rate 4.967% Senior Notes Due 2028 | Senior Notes | Debt Instrument, Redemption, Period One              
Subsequent Event [Line Items]              
Debt instrument, redemption period 1 year            
Subsequent Event | Fixed Rate Floating Rate 4.967% Senior Notes Due 2028 | Senior Notes | Debt Instrument, Redemption, Period Two              
Subsequent Event [Line Items]              
Debt instrument, redemption period 30 days            
Subsequent Event | Fixed Rate Floating Rate 4.967% Senior Notes Due 2028 | Senior Notes | Debt Instrument, Redemption, Period Three              
Subsequent Event [Line Items]              
Debt instrument, redemption period 180 days            
Subsequent Event | Floating Rate 4.967% Senior Notes Due 2028 | Senior Notes              
Subsequent Event [Line Items]              
Principal amount $ 300            
Basis spread on variable rate (as a percent) 0.81%            
v3.25.0.1
Business Segments - Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
class_action
Segment Reporting [Abstract]  
Reportable segments 3
v3.25.0.1
Business Segments - Results of Operations and Average Assets by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information      
Net interest income (FTE) $ 5,654 $ 5,852 $ 5,625
Provision for credit losses 530 515 563
Net interest income after provision for (benefit from) credit losses 5,124 5,337 5,062
Noninterest income:      
Wealth and asset management revenue 647 581 570
Commercial payments revenue 608 564 568
Consumer banking revenue 555 546 542
Capital markets fees 424 422 387
Commercial banking revenue 377 409 419
Mortgage banking net revenue 211 250 215
Other noninterest income 12 91 149
Securities gains (losses), net 15 18 (84)
Total noninterest income 2,849 2,881 2,766
Noninterest Expense      
Compensation and benefits [1] 2,763 2,694 2,554
Technology and communications [1] 474 464 416
Net occupancy expense [1] 339 331 307
Equipment expense [1] 153 148 145
Loan and lease expense [1] 132 133 167
Marketing expense [1] 115 126 118
Card and processing expense [1] 84 84 80
Other noninterest expense [1] 973 1,225 932
Total noninterest expense [1] 5,033 5,205 4,719
Income (loss) before income taxes (FTE) 2,940 3,013 3,109
Average assets 212,806 208,426 206,929
Impairment losses on bank premises 1 2 9
Impairment losses and termination charges 1 2 2
Operating Segments | Commercial Banking      
Segment Reporting Information      
Net interest income (FTE) 2,647 3,828 2,552
Provision for credit losses 304 12 33
Net interest income after provision for (benefit from) credit losses 2,343 3,816 2,519
Noninterest income:      
Wealth and asset management revenue 3 2 3
Commercial payments revenue 529 473 468
Consumer banking revenue 0 0 0
Capital markets fees 421 419 387
Commercial banking revenue 373 406 417
Mortgage banking net revenue 0 0 0
Other noninterest income 53 65 98
Securities gains (losses), net 1 (9) (33)
Total noninterest income 1,380 1,356 1,340
Noninterest Expense      
Compensation and benefits 656 654 639
Technology and communications 14 14 11
Net occupancy expense 36 41 40
Equipment expense 28 29 27
Loan and lease expense 31 30 27
Marketing expense 3 3 5
Card and processing expense 9 11 11
Other noninterest expense 1,117 1,221 1,063
Total noninterest expense 1,894 2,003 1,823
Income (loss) before income taxes (FTE) 1,829 3,169 2,036
Average assets 77,177 83,078 82,239
FTE adjustments 15 16 10
Impairment losses of operating lease equipment     2
Operating Segments | Consumer and Small Business Banking      
Segment Reporting Information      
Net interest income (FTE) 4,169 5,207 3,131
Provision for credit losses 322 303 139
Net interest income after provision for (benefit from) credit losses 3,847 4,904 2,992
Noninterest income:      
Wealth and asset management revenue 247 216 204
Commercial payments revenue 76 85 89
Consumer banking revenue 551 544 538
Capital markets fees 2 2 2
Commercial banking revenue 4 2 1
Mortgage banking net revenue 210 250 214
Other noninterest income 4 6 7
Securities gains (losses), net 0 0 (2)
Total noninterest income 1,094 1,105 1,053
Noninterest Expense      
Compensation and benefits 882 878 828
Technology and communications 30 27 22
Net occupancy expense 212 209 196
Equipment expense 51 44 38
Loan and lease expense 80 86 107
Marketing expense 68 70 58
Card and processing expense 75 76 72
Other noninterest expense 1,074 1,125 1,068
Total noninterest expense 2,472 2,515 2,389
Income (loss) before income taxes (FTE) 2,469 3,494 1,656
Average assets 51,627 50,974 49,823
Impairment losses on bank premises   1 6
Operating Segments | Wealth and Asset Management      
Segment Reporting Information      
Net interest income (FTE) 210 360 262
Provision for credit losses 0 1 0
Net interest income after provision for (benefit from) credit losses 210 359 262
Noninterest income:      
Wealth and asset management revenue 397 363 363
Commercial payments revenue 1 1 1
Consumer banking revenue 2 2 2
Capital markets fees 2 1 0
Commercial banking revenue 0 0 1
Mortgage banking net revenue 1 0 1
Other noninterest income 1 2 0
Securities gains (losses), net 0 0 0
Total noninterest income 404 369 368
Noninterest Expense      
Compensation and benefits 222 220 218
Technology and communications 1 1 1
Net occupancy expense 12 12 13
Equipment expense 0 0 0
Loan and lease expense 1 1 1
Marketing expense 1 1 1
Card and processing expense 1 1 1
Other noninterest expense 149 139 144
Total noninterest expense 387 375 379
Income (loss) before income taxes (FTE) 227 353 251
Average assets 4,390 4,678 4,763
Corporate Corporate and Other      
Segment Reporting Information      
Net interest income (FTE) (1,372) (3,543) (320)
Provision for credit losses (96) 199 391
Net interest income after provision for (benefit from) credit losses (1,276) (3,742) (711)
Noninterest income:      
Wealth and asset management revenue 0 0 0
Commercial payments revenue 2 5 10
Consumer banking revenue 2 0 2
Capital markets fees (1) 0 (2)
Commercial banking revenue 0 1 0
Mortgage banking net revenue 0 0 0
Other noninterest income (46) 18 44
Securities gains (losses), net 14 27 (49)
Total noninterest income (29) 51 5
Noninterest Expense      
Compensation and benefits 1,003 942 869
Technology and communications 429 422 382
Net occupancy expense 79 69 58
Equipment expense 74 75 80
Loan and lease expense 20 16 32
Marketing expense 43 52 54
Card and processing expense (1) (4) (4)
Other noninterest expense (1,367) (1,260) (1,343)
Total noninterest expense 280 312 128
Income (loss) before income taxes (FTE) (1,585) (4,003) (834)
Average assets 79,612 69,696 70,104
FTE adjustments $ 9 9 6
Impairment losses on bank premises   $ 1 $ 3
[1] During the fourth quarter of 2024, certain noninterest income and noninterest expense line items were reclassified to better align disclosures to business activities. These reclassifications were retrospectively applied to all prior periods presented. Total noninterest income and noninterest expense did not change as a result of these reclassifications. Refer to Note 1 for additional information.