The Bancorp's strategy for growth includes strengthening its presence in core markets, expanding its presence in high-growth markets and broadening its product offerings (p. 17). This is a consistent strategy.

Fifth Third's future success depends, in part, upon Fifth Third's ability to address the needs of its customers by using technology to provide products and services that will satisfy customer demands, as well as to create additional efficiencies in its operations (p. 29).

Acquisitions and investments typically involve the payment of a premium over book value and current market price, and therefore, some dilution of tangible book value and net income per share may occur with any future transactions (p. 17).

Full year turnover improved, decreasing from 16.9% in 2023 to 16.2% in 2024 (p. 17).

Fifth Third's commitment to compliance and risk management also remains strong, with all employees and contingent workers completing more than 475,000 course hours on these topics (p. 17).

Fifth Third leaders engaged in 2,800 different development offerings (p. 17). This demonstrates a commitment to leadership development.

If the current economic environment were to deteriorate, more customers may have difficulty in repaying their credit obligations which could result in a higher level of credit losses and reserves for credit losses (p. 25).

Failures, interruptions of service or breaches in the security of these environments occur across the financial services industry with some frequency, including at Fifth Third and its third-party providers. If an event of this nature occurred at Fifth Third or one of its third-party providers and such event proved to be material, this could result in disruptions to Fifth Third's accounting, deposit, lending and other systems, and adversely affect its customer relationships (p. 27).

Future changes in laws or regulations (including tax laws and regulations such as the Inflation Reduction Act) or their interpretations or enforcement may also be materially adverse to Fifth Third and its shareholders or may require Fifth Third to expend significant time and resources to comply with such requirements (p. 31).

Fifth Third is subject to rapid changes in technology, regulation and product innovation, and faces intense competition for customers, sources of revenue, capital, services, qualified employees and other essential business resources (p. 29).

Many of Fifth Third's competitors have substantially greater resources to invest in technological improvements (p. 29).

Fifth Third may not be able to effectively implement new technology driven products and services or be successful in marketing these products and services to its customers. As a result, Fifth Third's ability to effectively compete to retain or acquire new business may be impaired, and its business, financial condition or results of operations, may be adversely affected (p. 29).

Noninterest expense decreased $172 million for the year ended December 31, 2024 compared to the year ended December 31, 2023 primarily due to decreases in FDIC insurance and other taxes and leasing business expense (p. 50).

Efficiency ratio on an FTE basis increased from 59.6% to 59.2% (p. 50).

Changes in retail distribution strategies and consumer behavior may adversely impact Fifth Third's investments in its bank premises and equipment and other assets and may lead to increased expenditures to change its retail distribution channel (p. 29).

Fifth Third relies on its systems and certain third-party service providers and certain failures (including those related to cybersecurity or weather events exacerbated by climate change) could materially adversely affect operations (p. 28).

New technological advancements may subject Fifth Third to additional risks (p. 29).

Fifth Third may not be able to successfully implement future information technology system enhancements, which could adversely affect Fifth Third's business operations and profitability (p. 29).

The Bancorp declared dividends per common share of $1.44, $1.36 and $1.26 during the years ended December 31, 2024, 2023 and 2022, respectively (p. 49). During the year ended December 31, 2024, the Bancorp entered into and settled accelerated share repurchase transactions totaling $625 million (p. 49).

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 (p. 49). 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 (p. 49).

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 (p. 49).

Fifth Third is subject to environmental, social and governance risks that could adversely affect its reputation, the trading price of its common stock and/or its business, operations and earnings (p. 30).

The effects of global physical climate risks, severe weather events or health emergencies may have an effect on the performance of Fifth Third's loan portfolios, thereby adversely impacting its results of operations (p. 26).

There is continued focus, including from governmental organizations, regulators, investors, customers and other stakeholders, on environmental, social, governance and sustainability issues (p. 30).

Fifth Third has been, and will continue to be, impacted by general business and economic conditions in the U.S. These conditions include short-term and long-term interest rates, inflation, money supply, political issues, legislative and regulatory changes, fluctuations in both debt and equity capital markets, broad trends in industry and finance, unemployment, tariffs or other anticipated changes in trade policy (p. 33).

Global financial markets, including the U.S., face political and economic uncertainties that may delay investment and hamper economic activity (p. 34).

Fifth Third's income and cash flows depend to a great extent on the difference between the interest rates earned on interest-earning assets such as loans and investment securities and the interest rates paid on interest-bearing liabilities such as deposits and borrowings (p. 34).