By Connor Hart

Fifth Third Bancorp's profit was lower in the first quarter, during which the regional lender closed its acquisition of Comerica.

The company on Friday posted net income of $165 million, or 15 cents a share, compared with $731 million, or $1.04 a share, a year earlier.

One-time charges, such as expenses tied to the Comerica deal, weighed down earnings by 68 cents a share. Analysts surveyed by FactSet had expected a per-share loss of 10 cents.

Chief Executive Tim Spence said early financial benefits from the Comerica deal are already showing up, including strong net interest margin expansion and tangible book value per share growth.

"We have integrated the combined management teams and are retaining key customer-facing colleagues, supporting continuity for clients as we move forward as one organization," he said. "We are also seeing early revenue synergies across both commercial and consumer businesses."

The Cincinnati company notched a provision for credit losses of $227 million, down 30% from a year ago.

Net interest income jumped 34% to $1.94 billion. Noninterest income climbed 29% to $895 million, while noninterest expense jumped 84% to $2.4 billion.

Net charge-offs totaled $144 million in the recent quarter, up $8 million from last year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 17, 2026 07:06 ET (11:06 GMT)

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