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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

The Bancorp’s common stock is traded in the over-the-counter market and is listed under the symbol “FITB” on the NASDAQ® Global Select Market System.

See a discussion of dividend limitations that the subsidiaries can pay to the Bancorp discussed in Note 4 of the Notes to Consolidated Financial Statements, which is incorporated herein by reference. Additionally, as of December 31, 2020, the Bancorp had 36,824 shareholders of record.

Issuer Purchases of Equity Securities
PeriodTotal Number of Shares Purchased*(a)*Average Price Paid Per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsMaximum Number of Shares that May Yet be Purchased Under the Plans or Programs
October 202044,736$22.91—76,437,348
November 2020129,97825.27—76,437,348
December 202097,52126.80—76,437,348
Total272,235$25.43—76,437,348

*(a)*Shares repurchased during the fourth quarter of 2020 were in connection with various employee compensation plans of the Bancorp. These purchases do not count against the maximum number of shares that may yet be purchased under the Board of Directors’ authorization.

See further discussion on share repurchase transactions and stock-based compensation in Note 25 and Note 26 of the Notes to Consolidated Financial Statements, which is incorporated herein by reference.

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The following performance graphs do not constitute soliciting material and should not be deemed filed or incorporated by reference into any other Company filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent the Bancorp specifically incorporates the performance graphs by reference therein.

Total Return Analysis

The graphs below summarize the cumulative return experienced by the Bancorp’s shareholders over the five and ten year periods ended December 31, 2020, respectively, compared to the S&P 500 Stock and the S&P Banks indices.

FIFTH THIRD BANCORP VS. MARKET INDICES

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2020 ANNUAL REPORT

FINANCIAL CONTENTS

Glossary of Abbreviations and Acronyms50
Selected Financial Data51
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Overview52
Non-GAAP Financial Measures57
Recent Accounting Standards59
Critical Accounting Policies59
Statements of Income Analysis64
Business Segment Review73
Fourth Quarter Review83
Balance Sheet Analysis86
Risk Management - Overview93
Credit Risk Management94
Interest Rate and Price Risk Management114
Liquidity Risk Management120
Operational Risk Management122
Legal and Regulatory Compliance Risk Management123
Capital Management124
Off-Balance Sheet Arrangements127
Contractual Obligations and Other Commitments128
Report of Independent Registered Public Accounting Firm129
Financial Statements
Consolidated Balance Sheets131
Consolidated Statements of Income132
Consolidated Statements of Comprehensive Income133
Consolidated Statements of Changes in Equity134
Consolidated Statements of Cash Flows136
Notes to Consolidated Financial Statements
Summary of Significant Accounting and Reporting Policies137Long-Term Debt190
Supplemental Cash Flow Information152Commitments, Contingent Liabilities and Guarantees194
Business Combination153Legal and Regulatory Proceedings198
Restrictions on Cash, Dividends and Other Capital Actions157Related Party Transactions201
Investment Securities158Income Taxes203
Loans and Leases161Retirement and Benefit Plans205
Credit Quality and the Allowance for Loan and Lease Losses163Accumulated Other Comprehensive Income208
Bank Premises and Equipment172Common, Preferred and Treasury Stock210
Operating Lease Equipment173Stock-Based Compensation212
Lease Obligations – Lessee173Other Noninterest Income and Other Noninterest Expense216
Goodwill175Earnings Per Share217
Intangible Assets176Fair Value Measurements218
Variable Interest Entities177Regulatory Capital Requirements and Capital Ratios227
Sales of Receivables and Servicing Rights180Parent Company Financial Statements228
Derivative Financial Instruments182Business Segments230
Other Assets188Subsequent Event233
Short-Term Borrowings189
Management’s Assessment as to the Effectiveness of Internal Control over Financial Reporting234
Report of Independent Registered Public Accounting Firm235
Consolidated Ten Year Comparison243
Directors and Officers244
Corporate Information

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GLOSSARY OF ABBREVIATIONS AND ACRONYMS

Fifth Third Bancorp provides the following list of abbreviations and acronyms as a tool for the reader that are used in Management’s Discussion and Analysis of Financial Condition and Results of Operations, the Consolidated Financial Statements and the Notes to Consolidated Financial Statements.

ACL: Allowance for Credit LossesIRC: Internal Revenue Code
AFS: Available For SaleIRLC: Interest Rate Lock Commitment
ALCO: Asset Liability Management CommitteeIRS: Internal Revenue Service
ALLL: Allowance for Loan and Lease LossesISDA: International Swaps and Derivatives Association, Inc.
AOCI: Accumulated Other Comprehensive Income (Loss)LIBOR: London Interbank Offered Rate
APR: Annual Percentage RateLIHTC: Low-Income Housing Tax Credit
ARM: Adjustable Rate MortgageLLC: Limited Liability Company
ASC: Accounting Standards CodificationLTV: Loan-to-Value Ratio
ASU: Accounting Standards UpdateMD&A: Management’s Discussion and Analysis of Financial
ATM: Automated Teller MachineCondition and Results of Operations
BHC: Bank Holding CompanyMSR: Mortgage Servicing Right
BOLI: Bank Owned Life InsuranceN/A: Not Applicable
bps: Basis PointsNAV: Net Asset Value
CARES: Coronavirus Aid, Relief and Economic SecurityNII: Net Interest Income
CCAR: Comprehensive Capital Analysis and ReviewNM: Not Meaningful
CDC: Fifth Third Community Development CorporationOAS: Option-Adjusted Spread
CECL: Current Expected Credit LossOCC: Office of the Comptroller of the Currency
CET1: Common Equity Tier 1OCI: Other Comprehensive Income (Loss)
CFPB: United States Consumer Financial Protection BureauOREO: Other Real Estate Owned
C&I: Commercial and IndustrialOTTI: Other-Than-Temporary Impairment
DCF: Discounted Cash FlowPCI: Purchase Credit Impaired
DTCC: Depository Trust & Clearing CorporationPCD: Purchased Credit Deteriorated
DTI: Debt-to-Income RatioPPP: Paycheck Protection Program
ERM: Enterprise Risk ManagementPSA: Performance Share Award
ERMC: Enterprise Risk Management CommitteeRCC: Risk Compliance Committee
EVE: Economic Value of EquityROU: Right-of-Use
FASB: Financial Accounting Standards BoardRSA: Restricted Stock Award
FDIC: Federal Deposit Insurance CorporationRSU: Restricted Stock Unit
FHA: Federal Housing AdministrationSAR: Stock Appreciation Right
FHLB: Federal Home Loan BankSBA: Small Business Administration
FHLMC: Federal Home Loan Mortgage CorporationSEC: United States Securities and Exchange Commission
FICO: Fair Isaac Corporation (credit rating)SOFR: Secured Overnight Financing Rate
FINRA: Financial Industry Regulatory AuthorityTBA: To Be Announced
FNMA: Federal National Mortgage AssociationTDR: Troubled Debt Restructuring
FOMC: Federal Open Market CommitteeTILA: Truth in Lending Act
FRB: Federal Reserve BankTRA: Tax Receivable Agreement
FTE: Fully Taxable EquivalentTruPS: Trust Preferred Securities
FTP: Funds Transfer PricingU.S.: United States of America
FTS: Fifth Third SecuritiesUSD: United States Dollar
GDP: Gross Domestic ProductU.S. GAAP: United States Generally Accepted Accounting
GNMA: Government National Mortgage AssociationPrinciples
GSE: United States Government Sponsored EnterpriseVA: United States Department of Veterans Affairs
HTM: Held-To-MaturityVIE: Variable Interest Entity
IPO: Initial Public OfferingVRDN: Variable Rate Demand Note

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SELECTED FINANCIAL DATA

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