FIFTH THIRD BANCORP - FORM 8-K - EX-99.3

Attached files

Attached files

Stock widget

Investing forum

file	filename
EX-99.1 - EX-99.1 - FIFTH THIRD BANCORP	d712070dex991.htm
EX-99.2 - EX-99.2 - FIFTH THIRD BANCORP	d712070dex992.htm
8-K - FORM 8-K - FIFTH THIRD BANCORP	d712070d8k.htm

Exhibit 99.3

April 2014

LOGO

QUARTERLY FINANCIAL SUPPLEMENT

Investment Community Member:

To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.

Numbers are unaudited for quarterly information.

If you need further information, please fax or e-mail your request to Fifth Third’s Investor Relations Department at (513) 534-0629 or IR@53.com

LOGO

Quarterly Data


	Three Months Ended
	March 2014		December 2013		September 2013		June 2013		March 2013		December 2012		September 2012		June 2012
Ratios (percent)
Return on average assets		1.00		1.24		1.35		1.94		1.41		1.33		1.23		1.32
Return on average common equity		9.0		10.8		12.1		17.3		12.5		11.5		10.4		11.4
Average Bancorp shareholders’ equity as a percent of average assets		11.53		11.51		11.71		11.64		11.38		11.65		11.82		11.58
Net interest margin^(a)		3.22		3.21		3.31		3.33		3.42		3.49		3.56		3.56
Efficiency^(a)		64.9		61.5		59.2		53.2		59.8		65.2		63.7		59.4
Net losses charged off as a percent of average loans and leases		0.76		0.67		0.49		0.51		0.63		0.70		0.75		0.88
ALLL as a percent of portfolio loans and leases		1.65		1.79		1.92		1.99		2.08		2.16		2.32		2.45
Allowance for credit losses as a percent of portfolio loans and leases		1.82		1.97		2.11		2.18		2.28		2.37		2.53		2.66
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO^(b)		1.05		1.10		1.16		1.32		1.41		1.49		1.73		1.96
Allowance for loan and lease losses as a percent of nonperforming assets^(b)		157		161		165		151		147		144		133		125
Allowance for credit losses as a percent of nonperforming assets^(b)		173		178		182		165		161		158		145		136
Common Share Data
Earnings per share	$	0.36	$	0.44	$	0.47	$	0.67	$	0.47	$	0.44	$	0.39	$	0.41
Earnings per diluted share	$	0.36	$	0.43	$	0.47	$	0.65	$	0.46	$	0.43	$	0.38	$	0.40
Cash dividends per common share		0.12		0.12		0.12		0.12		0.11		0.10		0.10		0.08
Book value per share		16.27		15.85		15.84		15.56		15.42		15.10		14.84		14.56
Common shares outstanding, excluding treasury		847,568,728		855,305,745		887,029,539		851,473,955		874,644,725		882,152,057		897,467,317		918,913,253
Market price per share:
High	$	23.39	$	21.04	$	19.69	$	18.60	$	16.61	$	16.16	$	15.95	$	14.67
Low		20.50		17.50		18.04		15.80		15.35		13.75		13.07		12.04
End of period		22.96		21.03		18.05		18.05		16.31		15.20		15.51		13.40
Supplemental Data
Common dividends declared ($ in millions)	$	102	$	103	$	106	$	102	$	96	$	88	$	89	$	74
Full-time equivalent employees		19,080		19,446		20,256		20,569		20,744		20,798		20,789		20,888
Banking centers		1,311		1,320		1,326		1,326		1,320		1,325		1,320		1,322
ATMs		2,614		2,586		2,374		2,433		2,426		2,415		2,404		2,409

(a)

Presented on a fully taxable equivalent basis (FTE).

(b)

Excludes nonperforming assets held for sale.

Page 2

LOGO

Quarterly Data


	Three Months Ended
	March			December			September			June			March			December			September			June
	2014			2013			2013			2013			2013			2012			2012			2012
Income Statement ($ in millions)
Interest income (FTE)	$	998		$	1,007		$	997		$	989		$	1,000		$	1,020		$	1,027		$	1,031
Interest expense		100			102			99			104			107			117			120			132

Net interest income (FTE)		898			905			898			885			893			903			907			899
Provision for loan and lease losses		69			53			51			64			62			76			65			71
Noninterest income:
Service charges on deposits		133			142			140			136			131			134			128			130
Investment advisory revenue		102			98			97			98			100			93			92			93
Corporate banking revenue		104			94			102			106			99			114			101			102
Mortgage banking net revenue		109			126			121			233			220			258			200			183
Card and processing revenue		68			71			69			67			65			66			65			64
Other noninterest income		41			170			185			414			109			215			78			103
Securities gains, net		7			2			2			—			17			2			2			3
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—			—			5			6			2			(2	)		5			—

Total noninterest income		564			703			721			1,060			743			880			671			678
Noninterest expense:
Salaries, wages and incentives		359			388			389			404			399			416			399			393
Employee benefits		101			78			83			83			114			96			79			84
Net occupancy expense		80			77			75			76			79			76			76			74
Technology and communications		53			53			52			50			49			52			49			48
Equipment expense		30			29			29			28			28			27			28			27
Card and processing expense		31			37			33			33			31			31			30			30
Other noninterest expense		296			327			298			361			278			465			345			281

Total noninterest expense		950			989			959			1,035			978			1,163			1,006			937
Income before income taxes (FTE)		443			566			609			846			596			544			507			569
Taxable equivalent adjustment		5			5			5			5			5			4			4			4

Income before income taxes		438			561			604			841			591			540			503			565
Applicable income tax		119			159			183			250			179			144			139			180

Net income	$	319		$	402		$	421		$	591		$	412		$	396		$	364		$	385
Less: Net income attributable to noncontrolling interests		1			—			—			—			(10	)		(3	)		1			—

Net income attributable to Bancorp	$	318		$	402		$	421		$	591		$	422		$	399		$	363		$	385
Dividends on preferred stock		9			19			—			9			9			9			9			9

Net income available to common shareholders	$	309		$	383		$	421		$	582		$	413		$	390		$	354		$	376

*Regulatory Capital Data ($ in millions)^(a)***
Tier I capital	$	12,182		$	12,094		$	12,762		$	12,426		$	11,878		$	11,685		$	11,594		$	13,093
Tier II capital		4,173			4,347			3,674			3,675			3,853			4,131			4,183			4,188

Total risk-based capital	$	16,355		$	16,441		$	16,436		$	16,101		$	15,731		$	15,816		$	15,777		$	17,281

Risk-weighted assets	$	116,622		$	116,736		$	114,544		$	112,285		$	109,626		$	109,699		$	106,858		$	106,398

Tier I risk-based capital ratio		10.45	%		10.36	%		11.14	%		11.07	%		10.83	%		10.65	%		10.85	%		12.31	%
Total risk-based capital ratio		14.02	%		14.08	%		14.35	%		14.34	%		14.35	%		14.42	%		14.76	%		16.24	%
Tier I leverage ratio		9.65	%		9.64	%		10.58	%		10.40	%		10.03	%		10.05	%		10.09	%		11.39	%
Tier I common equity ratio		9.51	%		9.39	%		9.88	%		9.43	%		9.70	%		9.51	%		9.67	%		9.77	%

(a)

Current period regulatory capital data and ratios are estimated.

Page 3

LOGO

Quarterly Data


	As of
	March			December			September			June			March			December			September			June
	2014			2013			2013			2013			2013			2012			2012			2012
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	3,153		$	3,178		$	2,887		$	2,390		$	2,186		$	2,441		$	2,490		$	2,393
Available-for-sale and other securities		20,749			18,597			18,080			16,187			15,263			15,207			15,402			15,552
Held-to-maturity securities		195			208			265			274			283			284			287			305
Trading securities		347			343			246			219			218			207			205			200
Other short-term investments		2,202			5,116			2,622			1,109			2,286			2,421			1,286			1,964

Total cash and securities		26,646			27,442			24,100			20,179			20,236			20,560			19,670			20,414
Loans held for sale		780			944			1,330			2,148			2,691			2,939			1,802			1,863
Portfolio loans and leases		89,705			88,614			87,231			87,032			85,676			85,782			83,059			82,359

Total loans and leases		90,485			89,558			88,561			89,180			88,367			88,721			84,861			84,222
Allowance for loan and lease losses		(1,483	)		(1,582	)		(1,677	)		(1,735	)		(1,783	)		(1,854	)		(1,925	)		(2,016	)
Bank premises and equipment		2,528			2,531			2,528			2,540			2,540			2,542			2,520			2,506
Operating lease equipment		714			730			707			645			598			581			542			511
Goodwill		2,416			2,416			2,416			2,416			2,416			2,416			2,417			2,417
Intangible assets		18			19			21			23			25			27			30			33
Servicing rights		975			971			919			899			772			697			679			736
Other real estate owned		291			299			312			301			316			320			356			338
Other assets		7,064			8,059			7,786			8,912			7,895			7,884			8,333			8,382

Total assets	$	129,654		$	130,443		$	125,673		$	123,360		$	121,382		$	121,894		$	117,483		$	117,543

Liabilities
Deposits:
Demand	$	31,234		$	32,634		$	30,153		$	30,097		$	30,027		$	30,023		$	27,606		$	26,251
Interest checking		25,472			25,875			23,527			22,878			23,175			24,477			22,891			23,197
Savings		16,867			17,045			17,583			18,448			19,339			19,879			20,624			22,011
Money market		13,208			11,644			10,433			9,247			8,613			6,875			5,285			4,223
Foreign office		1,922			1,976			1,409			1,570			1,089			885			1,059			1,265
Other time		3,660			3,530			3,524			3,793			3,909			4,015			4,167			4,261
Certificates—$100,000 and over		4,511			6,571			7,497			7,374			5,472			3,284			2,978			3,065
Other foreign office		—			—			—			47			—			79			78			—

Total deposits		96,874			99,275			94,126			93,454			91,624			89,517			84,688			84,273
Federal funds purchased		268			284			225			636			386			901			686			641
Other short-term borrowings		2,717			1,380			3,487			2,112			2,439			6,280			5,503			4,613
Other liabilities		3,698			5,245			5,057			5,941			4,693			4,347			4,710			4,507
Long-term debt		11,233			9,633			8,098			6,940			8,320			7,085			8,127			9,685

Total liabilities		114,790			115,817			110,993			109,083			107,462			108,130			103,714			103,719

Equity
Common and preferred equity		16,122			15,802			15,085			15,292			14,315			13,975			13,648			13,402
Net unrealized gains (losses):
Available-for-sale securities		231			121			268			203			381			412			494			476
Qualifying cash flow hedges		16			13			31			29			37			50			62			69
Accumulated other comprehensive income related to employee benefit plans		(51	)		(52	)		(81	)		(83	)		(85	)		(87	)		(88	)		(91	)
Treasury stock, at cost		(1,492	)		(1,295	)		(662	)		(1,202	)		(766	)		(634	)		(398	)		(83	)

Total Bancorp shareholders’ equity		14,826			14,589			14,641			14,239			13,882			13,716			13,718			13,773
Noncontrolling interests		38			37			39			38			38			48			51			51

Total equity		14,864			14,626			14,680			14,277			13,920			13,764			13,769			13,824

Total liabilities and equity	$	129,654		$	130,443		$	125,673		$	123,360		$	121,382		$	121,894		$	117,483		$	117,543

Share Data
Preferred shares outstanding—Series G		—			—			—			16,442			16,450			16,450			16,450			16,450
Preferred shares outstanding—Series H		24,000			24,000			24,000			24,000			—			—			—			—
Preferred shares outstanding—Series I		18,000			18,000			—			—			—			—			—			—
Common shares outstanding, excluding treasury		847,568,728			855,305,745			887,029,539			851,473,955			874,644,725			882,152,057			897,467,317			918,913,253
Treasury shares held		76,323,853			68,586,836			36,863,042			72,418,626			49,247,856			41,740,524			26,425,263			4,979,328

Page 4

LOGO

Quarterly Data


	Three Months Ended
	March 2014			December 2013			September 2013			June 2013			March 2013			December 2012			September 2012			June 2012
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	90,238		$	88,865		$	89,154			89,473		$	88,880		$	86,180		$	84,829		$	84,508
Taxable securities		20,385			18,383			16,590			15,346			15,224			15,187			15,005			15,548
Tax exempt securities		46			48			44			55			51			57			48			62
Other short-term investments		2,509			4,612			1,894			1,561			1,571			1,521			1,535			1,558

Total interest-earning assets		113,178			111,908			107,682			106,435			105,726			102,945			101,417			101,676
Cash and due from banks		2,850			2,956			2,380			2,359			2,225			2,442			2,368			2,264
Other assets		14,478			14,986			15,015			15,198			15,016			15,468			15,749			15,835
Allowance for loan and lease losses		(1,576	)		(1,671	)		(1,731	)		(1,780	)		(1,850	)		(1,912	)		(2,013	)		(2,121	)

Total assets	$	128,930		$	128,179		$	123,346		$	122,212		$	121,117		$	118,943		$	117,521		$	117,654

Liabilities
Interest-bearing liabilities:
Interest checking	$	25,911		$	24,650		$	23,116		$	22,796		$	23,763		$	23,556		$	22,967		$	23,548
Savings		16,903			17,323			18,026			18,864			19,576			20,216			21,283			22,143
Money market		12,439			11,285			9,693			8,918			7,932			6,026			4,776			4,258
Foreign office		2,017			1,717			1,755			1,418			1,102			1,174			1,345			1,321
Other time		3,616			3,529			3,676			3,859			3,982			4,094			4,224			4,359
Certificates—$100,000 and over		5,576			7,456			7,315			6,519			4,017			3,084			3,016			3,130
Other foreign office		—			—			17			10			40			32			32			23
Federal funds purchased		547			301			464			560			691			794			664			408
Other short-term borrowings		1,808			2,177			1,675			2,867			5,429			4,553			4,856			4,303
Long-term debt		10,313			9,135			7,453			7,552			7,506			7,891			8,863			9,669

Total interest-bearing liabilities		79,130			77,573			73,190			73,363			74,038			71,420			72,026			73,162
Demand deposits		30,626			30,765			30,655			29,682			28,565			29,223			27,127			26,351
Other liabilities		4,274			5,045			5,023			4,908			4,687			4,394			4,430			4,462

Total liabilities		114,030			113,383			108,868			107,953			107,290			105,037			103,583			103,975
Equity		14,900			14,796			14,478			14,259			13,827			13,906			13,938			13,679

Total liabilities and equity	$	128,930		$	128,179		$	123,346		$	122,212		$	121,117		$	118,943		$	117,521		$	117,654

Average loans and leases (excluding held for sale)	$	89,530		$	87,895		$	87,272		$	86,707		$	85,903		$	83,943		$	82,888		$	82,586
Average common shares outstanding:
Basic		845,860,065			868,077,089			880,182,513			858,582,710			870,923,074			884,676,065			904,474,989			913,540,510
Diluted		857,923,596			877,510,663			888,111,269			900,625,454			913,163,262			925,585,306			944,820,608			954,622,463

Page 5

LOGO

Quarterly Data


	Three Months Ended
	March 2014			December 2013			September 2013			June 2013			March 2013			December 2012			September 2012			June 2012
End of Period Loans and Leases ($ in millions)^{(net of unearned discount)}
Commercial:
Commercial and industrial loans	$	40,692		$	39,347		$	38,260		$	37,868		$	36,782		$	36,077		$	33,357		$	32,625
Commercial mortgage loans		7,959			8,069			8,058			8,450			8,777			9,116			9,368			9,697
Commercial construction loans		1,220			1,041			879			758			699			707			683			834
Commercial leases		3,577			3,626			3,572			3,570			3,568			3,549			3,549			3,471

Subtotal—commercial		53,448			52,083			50,769			50,646			49,826			49,449			46,957			46,627
Consumer:
Residential mortgage loans		13,275			13,570			13,832			14,513			14,713			14,873			13,449			13,218
Home equity		9,125			9,246			9,356			9,531			9,727			10,018			10,238			10,377
Automobile loans		12,088			11,984			12,072			12,015			11,741			11,972			11,912			11,739
Credit card		2,177			2,294			2,157			2,114			2,043			2,097			1,994			1,943
Other consumer loans and leases		372			381			375			361			317			312			311			318

Subtotal—consumer		37,037			37,475			37,792			38,534			38,541			39,272			37,904			37,595

Total loans and leases	$	90,485		$	89,558		$	88,561		$	89,180		$	88,367		$	88,721		$	84,861		$	84,222

Average Loans and Leases ($ in millions)^{(net of unearned discount)}
Commercial:
Commercial and industrial loans	$	40,409		$	38,846		$	38,145		$	37,636		$	36,423		$	34,311		$	33,124		$	32,770
Commercial mortgage loans		7,983			8,051			8,280			8,627			8,978			9,209			9,592			9,873
Commercial construction loans		1,118			955			797			717			700			697			751			886
Commercial leases		3,607			3,579			3,574			3,553			3,557			3,509			3,483			3,471

Subtotal—commercial		53,117			51,431			50,796			50,533			49,658			47,726			46,950			47,000
Consumer:
Residential mortgage loans		13,304			13,544			14,333			14,984			14,866			14,028			13,458			13,059
Home equity		9,194			9,296			9,432			9,625			9,872			10,129			10,312			10,430
Automobile loans		12,023			12,019			12,083			11,887			12,096			11,944			11,812			11,755
Credit card		2,230			2,202			2,140			2,071			2,069			2,029			1,971			1,915
Other consumer loans and leases		370			373			370			373			319			324			326			349

Subtotal—consumer		37,121			37,434			38,358			38,940			39,222			38,454			37,879			37,508

Total average loans and leases	$	90,238		$	88,865		$	89,154		$	89,473		$	88,880		$	86,180		$	84,829		$	84,508

Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	398		$	387		$	391		$	551		$	618		$	665		$	808		$	1,002
Nonaccrual loans held for sale		3			6			11			15			16			25			38			55
Restructured loans—commercial (nonaccrual) held for sale		—			—			—			—			3			4			5			5
Restructured loans and leases (nonaccrual) portfolio		335			364			379			358			333			364			345			340
OREO and other repossessed property^(a)		213			229			244			241			259			257			293			277

Total nonperforming assets	$	949		$	986		$	1,025		$	1,165		$	1,229		$	1,315		$	1,489		$	1,679

Ninety days past due loans and leases	$	94		$	103		$	156		$	152		$	164		$	195		$	201		$	203

Nonperforming Loans ($ in millions)^{(nonaccrual plus renegotiated)}
Commercial and industrial loans and leases	$	301		$	287		$	310		$	356		$	323		$	345		$	401		$	471
Commercial mortgage loans		147			146			187			235			260			296			356			449
Commercial construction loans		19			31			34			47			74			85			93			123
Residential mortgage loans		141			165			166			202			221			237			254			260
Home equity and other consumer loans & leases		128			128			84			84			92			95			93			99

Total nonperforming loans and leases (including held for sale)	$	736		$	757		$	781		$	924		$	970		$	1,058		$	1,197		$	1,402

Credit Charge-Offs ($ in millions)
Gross charge-offs	($	190	)	($	183	)	($	141	)	($	145	)	($	168	)	($	177	)	($	188	)	($	219	)
Recoveries		22			35			32			33			35			30			32		$	38

Net losses charged off	($	168	)	($	148	)	($	109	)	($	112	)	($	133	)	($	147	)	($	156	)	($	181	)

(a)

Excludes OREO related to government insured loans.

Page 6

Jim Eglseder

Laura Wehby

VP / Investor Relations

VP / Investor Relations

(513) 534-8424

(513) 534-7407