Fifth Third Bancorp reported second-quarter 2026 adjusted diluted earnings per share of $1.02, excluding $0.19 per share in after-tax merger charges and other items. Net interest income on a fully taxable-equivalent basis reached $2.22 billion, a 14% sequential increase driven primarily by a full quarter of contribution from the Comerica acquisition, while the net interest margin expanded 6 basis points to 3.36%. The adjusted return on tangible common equity improved to 19.0% from 16.0% in the prior quarter, and the adjusted efficiency ratio strengthened to 57.1% from 61.9%. Tangible book value per share rose 10% year over year to $23.15. Average portfolio loans grew 13% sequentially to $178 billion, reflecting the full-quarter impact of Comerica and 2% growth in commercial and industrial loans. Average core deposits increased 11% to $229 billion, as granular consumer growth offset intentional reductions in higher-cost non-relationship commercial balances. The company raised its full-year net interest income guidance to a range of $8.74 billion to $8.8 billion, increased and narrowed its non-interest income outlook to $4.06 billion to $4.16 billion, and lowered its adjusted non-interest expense forecast to $7.22 billion to $7.26 billion, excluding acquisition-related charges. Management confirmed that the Comerica integration is on track for a systems conversion over Labor Day weekend, which is expected to unlock $850 million in annualized run-rate expense synergies by the fourth quarter, and indicated that regular share repurchases of $200 million to $300 million per quarter are expected to resume in the second half of 2026.
Fifth Third BancorpQ2 adjusted EPS beat, raised full-year NII and non-interest income guidance, improved efficiency ratio, and announced resumption of share repurchases.