The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: Great. Thank you, Tim. So maybe to kick it off to dig a little bit deeper on the two announcements that you had yesterday with both Brax
and Fannie DUS license. Maybe just talk about how you'd expect this to impact the business, the financials over the medium-term time
frame?
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: That's great. And this will be more capital market-oriented?
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DECEMBER 10, 2025 / 1:00PM, FITB.OQ - Fifth Third Bancorp at Goldman Sachs U.S. Financial Services
Conference
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: So a lot of interesting stuff in the deck on the Comerica and the integration revenue synergies. So we'll start to dig into some of those. I'm
looking at 1 of the slides, the deal slated to close in the first quarter. I guess, for us, what are the major hurdles between now and then and
any concerns given the hold co lawsuit that was out there that could delay this?
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: And I will agree. That was best behavior, and that was -- I did like the way he talked about the TBV dilution. So just on the time line, you're
planning on closing in the first quarter, and then it a systems branch and conversion gotten the fourth. I guess, Talk to us about why that's
the right time, what planning is being done and what you do need to ensure that you're ready at those dates approach?
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: Got you. So one of the things that you've noted is that their consumer bank was somewhat underinvested in. And maybe just talk about, is
it just opening more branches? Is there more to do than that? And you commented before about getting loan growth being similar to the
5% to 6% that Fifth Third historically has done -- how do you get the franchises as you bring them together, generating the type of loans
and deposit growth? And is there more investments that have to be made?
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: When you think about the 150 branches that you're in an said 75 Houston, Dallas and then 25 in San Antonio and Austin. Maybe just talk
about the strategy going in there. Is this -- are we using the same playbook that we've used in the Southeast? Are the markets different at
all they have to make some tweaks to it, talks about that?
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: And maybe to round out the discussion on the Comerica footprint. California is obviously a longer-term time line, but you mentioned there's
lots of things you could do. You give you the example of New line can work with TLS within the innovation economy. Maybe just talk about
the approach to California. Is there more that could be done. There's things like BOCC opening up venture lending and that's the kind of
thing, increase what you can do out there?
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: Maybe let's switch a little bit, just talk about the current operating environment. So you gave an updated 4Q guide where, as you mentioned
in your prepared remarks, Tim, you tweaked down slightly noninterest income due to a little bit capital market deals getting pushed. You
made up over on the expense side, so we're ending up in the same place. from a PPNR perspective. Maybe just focus on two things in
particular.
One, what are you guys seeing in the lending environment? And Two, obviously, it was nice to see the reiteration of the 40 basis points of
charge-offs taking sort of a broad update in terms of how you're feeling about credit?
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: Maybe dig in a little bit further on the revenue synergy opportunity, the $500 million over three to five years. lots of these are in areas where
if you think about it, either you're building the branches, you generate retail opportunity. Are these areas where Fifth Third has been -- has
had superior performance and a lot of it is bringing Comerica up to the same sort of level. Can you maybe just talk about any investment
that's needed to generate these? And will there be any sort of timing mismatch as you think about generating this?
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DECEMBER 10, 2025 / 1:00PM, FITB.OQ - Fifth Third Bancorp at Goldman Sachs U.S. Financial Services
Conference
Question: Ryan M. Nash - Goldman Sachs Group Inc - Analyst
: Awesome. We're out of time, but please join me in thanking Tim.
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