Fifth Third Bancorp reported its annual meeting of shareholders on April 15, 2025, highlighting its strong performance in a dynamic environment. The company achieved a 1.09% return on average assets and a 12.47% return on average common equity for the full year 2024. Furthermore, it improved its efficiency ratio to 73% and saw a 10.57% increase in its loan-to-core deposit ratio.
In terms of its net interest margin (NIM), Fifth Third Bancorp experienced a notable increase of 28 basis points compared to 2023. The company also witnessed a 25% growth in middle market relationship managers in high-growth areas compared to 2023, along with the addition of new branches in the southeast region. Additionally, household growth in the southeast region surpassed the figures from 2023.
From a shareholder perspective, the company declared dividends of $1.44 per common share in 2024, representing a 9% growth over a 5-year period. This growth positioned Fifth Third Bancorp as the #2 company among peers in terms of dividends declared per common share over the same period.
Fifth Third Bancorp has also made significant strides in its commitment to community and employee well-being. It has delivered over $42 billion of its $100 billion sustainability and stewardship target, with over $28.5 million in charitable donations and over $1.4 billion provided in community development lending and investment. The company has also achieved national recognition, ranking #1 in Florida for retail banking customer satisfaction.
The positive financial and community-oriented outcomes demonstrate Fifth Third Bancorp's dedication to achieving long-term sustainable value for its shareholders. The market has reacted to these announcements by moving the company's shares 1.8% to a price of $35.24. For more information, read the company's full 8-K submission here.
