Fifth Third Bancorp (NASDAQ: FITB) announced financial results for the third quarter of 2024, reporting a decline in earnings.
- The company reported net income available to shareholders of $532 million for the third quarter, down 15% year-over-year
- On a per-share basis, September-quarter earnings dropped to $0.78 from $0.91 in Q3 2023
- Tangible book value per share rose sharply to $20.20 in Q3 from $13.76 in the same period last year
- Q3 net interest income edged down to $1.42 billion from $1.45 billion in the comparable quarter of 2023
- Non-interest income was $711 million in the September quarter, compared to $715 million in the prior year quarter
- Third-quarter average deposits increased to $167.2 billion from $165.6 billion in the same period last year
- The company generated consumer household growth of 3% in Q3 compared to 3Q23