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- **$290B Category III Bank Creation**: Merger with Comerica to close Q1 2026, targeting 19%+ ROTCE.
- **Strong Q3 Performance**: 7% NII growth, 11% PPNR growth, 54.1% efficiency ratio.
- **Expansion Momentum**: 13 new Southeast branches (7% household growth), 60 Texas branches planned.
- **Fraud Impact**: $200M provision for Tricolor, no contagion risk in NDFI portfolio.
- **Deposit Strength**: 1.93% cost in Southeast, 25M/A branch deposits vs. 12M/A industry.
- **Credit Resilience**: 52bps NCOs (ex-Triple), 65bps NPA ratio, stable consumer delinquencies.

**【CEO Summary Section】**
- Announced merger with Comerica, expected to close by Q1 2026, creating a $290B Category III bank. 
- Q3 EPS of $0.93 (excluding fraud), with $200M provision for Tricolor fraud.
- 6% YoY loan growth, 3% deposit growth, 11% PPNR growth.
- Efficiency ratio 54.1%, ROA 1.25%, ROTCE 17.7%.
- Southeast expansion: 13 new branches, 7% household growth vs. 1.5% market.
- Texas expansion: 60 new branches, targeting 17 fast-growing metros.
- Middle market loans +6%, wealth AUM $77B, +11% fees.
- Newline payments deposits $3.9B, +31% YoY.

**【CFO Financial Commentary】**
- Q3 NII +7% YoY, +2% QoQ, driven by repricing and loan growth.
- Fee income +5% YoY, +7% QoQ, led by wealth (+11%), capital markets (+28%).
- Pre-provision net revenue +11% YoY, 330bps operating leverage.
- Deposit beta 60% on first 100bps rate cuts, targeting 30-50% beta in 2026.
- 2026 outlook: NII stable to +1%, PPNR +7-8%, CET1 10.5%.
- Share buybacks paused until merger close.

**【Q&A Highlights】**
- **Comerica Integration**: 
  - 60%+ cost synergies from 2026E, 19%+ ROTCE target.
  - Texas branches to leverage Fifth Third's payments platform.
  - Direct Express program to simplify for 3.4M participants.
- **Credit Quality**: 
  - NCOs 52bps (ex-Triple), guiding to 40bps in Q4.
  - NPA ratio 65bps, down 30% YoY.
  - Consumer delinquencies at pre-COVID levels.
- **Deposit Strategy**: 
  - 1.93% cost in Southeast vs. 2.35% industry average.
  - 25M/A branch deposits in Southeast vs. 12M/A industry.
- **Regulatory Update**: 
  - S-4 filing expected soon, targeting Q1 2026 close.
  - OCC accelerating charter approvals supports timeline.


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