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

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EX-99.1 - EX-99.1 - FIFTH THIRD BANCORP	d758814dex991.htm
EX-99.2 - EX-99.2 - FIFTH THIRD BANCORP	d758814dex992.htm
8-K - FORM 8-K - FIFTH THIRD BANCORP	d758814d8k.htm

Exhibit 99.3

July 2014

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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

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Quarterly Data


	Three Months Ended
	June		March		December		September		June		March		December		September
	2014		2014		2013		2013		2013		2013		2012		2012
Ratios (percent)
Return on average assets		1.34		1.00		1.24		1.35		1.94		1.41		1.33		1.23
Return on average common equity		11.9		9.0		10.8		12.1		17.3		12.5		11.5		10.4
Average Bancorp shareholders’ equity as a percent of average assets		11.57		11.53		11.51		11.71		11.64		11.38		11.65		11.82
Net interest margin^(a)		3.15		3.22		3.21		3.31		3.33		3.42		3.49		3.56
Efficiency^(a)		58.2		64.9		61.5		59.2		53.2		59.8		65.2		63.7
Net losses charged off as a percent of average loans and leases		0.45		0.76		0.67		0.49		0.51		0.63		0.70		0.75
ALLL as a percent of portfolio loans and leases		1.61		1.65		1.79		1.92		1.99		2.08		2.16		2.32
Allowance for credit losses as a percent of portfolio loans and leases		1.77		1.82		1.97		2.11		2.18		2.28		2.37		2.53
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO^(b)		0.92		1.05		1.10		1.16		1.32		1.41		1.49		1.73
Allowance for loan and lease losses as a percent of nonperforming assets^(b)		175		157		161		165		151		147		144		133
Allowance for credit losses as a percent of nonperforming assets^(b)		192		173		178		182		165		161		158		145
Common Share Data
Earnings per share	$	0.49	$	0.36	$	0.44	$	0.47	$	0.67	$	0.47	$	0.44	$	0.39
Earnings per diluted share	$	0.49	$	0.36	$	0.43	$	0.47	$	0.65	$	0.46	$	0.43	$	0.38
Cash dividends per common share		0.13		0.12		0.12		0.12		0.12		0.11		0.10		0.10
Book value per share		16.74		16.27		15.85		15.84		15.56		15.42		15.10		14.84
Common shares outstanding, excluding treasury		844,488,849		847,568,728		855,305,745		887,029,539		851,473,955		874,644,725		882,152,057		897,467,317
Market price per share:
High	$	23.19	$	23.39	$	21.04	$	19.69	$	18.60	$	16.61	$	16.16	$	15.95
Low		20.03		20.50		17.50		18.04		15.80		15.35		13.75		13.07
End of period		21.35		22.96		21.03		18.05		18.05		16.31		15.20		15.51
Supplemental Data
Common dividends declared ($ in millions)	$	110	$	102	$	103	$	106	$	102	$	96	$	88	$	89
Full-time equivalent employees		18,732		19,080		19,446		20,256		20,569		20,744		20,798		20,789
Banking centers		1,309		1,311		1,320		1,326		1,326		1,320		1,325		1,320
ATMs		2,619		2,614		2,586		2,374		2,433		2,426		2,415		2,404

(a)

Presented on a fully taxable equivalent basis (FTE).

(b)

Excludes nonperforming assets held for sale.

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Quarterly Data


	Three Months Ended
	June			March			December			September			June			March			December			September
	2014			2014			2013			2013			2013			2013			2012			2012
Income Statement ($ in millions)
Interest income (FTE)	$	1,013		$	998		$	1,007		$	997		$	989		$	1,000		$	1,020		$	1,027
Interest expense		108			100			102			99			104			107			117			120

Net interest income (FTE)		905			898			905			898			885			893			903			907
Provision for loan and lease losses		76			69			53			51			64			62			76			65
Noninterest income:
Service charges on deposits		139			133			142			140			136			131			134			128
Investment advisory revenue		102			102			98			97			98			100			93			92
Corporate banking revenue		107			104			94			102			106			99			114			101
Mortgage banking net revenue		78			109			126			121			233			220			258			200
Card and processing revenue		76			68			71			69			67			65			66			65
Other noninterest income		226			41			170			185			414			109			215			78
Securities gains, net		8			7			2			2			—			17			2			2
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—			—			—			5			6			2			(2	)		5

Total noninterest income		736			564			703			721			1,060			743			880			671
Noninterest expense:
Salaries, wages and incentives		368			359			388			389			404			399			416			399
Employee benefits		79			101			78			83			83			114			96			79
Net occupancy expense		79			80			77			75			76			79			76			76
Technology and communications		52			53			53			52			50			49			52			49
Equipment expense		30			30			29			29			28			28			27			28
Card and processing expense		37			31			37			33			33			31			31			30
Other noninterest expense		309			296			327			298			361			278			465			345

Total noninterest expense		954			950			989			959			1,035			978			1,163			1,006
Income before income taxes (FTE)		611			443			566			609			846			596			544			507
Taxable equivalent adjustment		5			5			5			5			5			5			4			4

Income before income taxes		606			438			561			604			841			591			540			503
Applicable income tax		167			119			159			183			250			179			144			139

Net income	$	439		$	319		$	402		$	421		$	591		$	412		$	396		$	364
Less: Net income attributable to noncontrolling interests		—			1			—			—			—			(10	)		(3	)		1

Net income attributable to Bancorp	$	439		$	318		$	402		$	421		$	591		$	422		$	399		$	363
Dividends on preferred stock		23			9			19			—			9			9			9			9

Net income available to common shareholders	$	416		$	309		$	383		$	421		$	582		$	413		$	390		$	354

*Regulatory Capital Data ($ in millions)^(a)***
Tier I capital	$	12,644		$	12,182		$	12,094		$	12,762		$	12,426		$	11,878		$	11,685		$	11,594
Tier II capital		4,101			4,174			4,337			3,665			3,666			3,846			4,126			4,177

Total risk-based capital	$	16,745		$	16,356		$	16,431		$	16,427		$	16,092		$	15,724		$	15,811		$	15,771

Risk-weighted assets	$	117,127		$	116,622		$	115,969		$	113,801		$	111,559		$	109,027		$	109,301		$	106,402

Tier I risk-based capital ratio		10.80	%		10.45	%		10.43	%		11.21	%		11.14	%		10.89	%		10.69	%		10.90	%
Total risk-based capital ratio		14.30	%		14.02	%		14.17	%		14.43	%		14.43	%		14.42	%		14.47	%		14.82	%
Tier I leverage ratio		9.86	%		9.71	%		9.70	%		10.64	%		10.45	%		10.07	%		10.08	%		10.14	%
Tier I common equity ratio		9.61	%		9.51	%		9.45	%		9.95	%		9.49	%		9.75	%		9.54	%		9.71	%

(a)

Current period regulatory capital data and ratios are estimated.

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Quarterly Data


	As of
	June			March			December			September			June			March			December			September
	2014			2014			2013			2013			2013			2013			2012			2012
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	3,312		$	3,153		$	3,178		$	2,887		$	2,390		$	2,186		$	2,441		$	2,490
Available-for-sale and other securities		22,814			20,749			18,597			18,080			16,187			15,263			15,207			15,402
Held-to-maturity securities		194			195			208			265			274			283			284			287
Trading securities		361			347			343			246			219			218			207			205
Other short-term investments		2,386			2,202			5,116			2,622			1,109			2,286			2,421			1,286

Total cash and securities		29,067			26,646			27,442			24,100			20,179			20,236			20,560			19,670
Loans held for sale		682			780			944			1,330			2,148			2,691			2,939			1,802
Portfolio loans and leases		90,484			89,705			88,614			87,231			87,032			85,676			85,782			83,059

Total loans and leases		91,166			90,485			89,558			88,561			89,180			88,367			88,721			84,861
Allowance for loan and lease losses		(1,458	)		(1,483	)		(1,582	)		(1,677	)		(1,735	)		(1,783	)		(1,854	)		(1,925	)
Bank premises and equipment		2,491			2,528			2,531			2,528			2,540			2,540			2,542			2,520
Operating lease equipment		667			714			730			707			645			598			581			542
Goodwill		2,416			2,416			2,416			2,416			2,416			2,416			2,416			2,417
Intangible assets		17			18			19			21			23			25			27			30
Servicing rights		931			975			971			919			899			772			697			679
Other real estate owned		266			291			299			312			301			316			320			356
Other assets		6,999			7,064			8,059			7,786			8,912			7,895			7,884			8,333

Total assets	$	132,562		$	129,654		$	130,443		$	125,673		$	123,360		$	121,382		$	121,894		$	117,483

Liabilities
Deposits:
Demand	$	32,140		$	31,234		$	32,634		$	30,153		$	30,097		$	30,027		$	30,023		$	27,606
Interest checking		24,744			25,472			25,875			23,527			22,878			23,175			24,477			22,891
Savings		16,087			16,867			17,045			17,583			18,448			19,339			19,879			20,624
Money market		14,216			13,208			11,644			10,433			9,247			8,613			6,875			5,285
Foreign office		1,418			1,922			1,976			1,409			1,570			1,089			885			1,059
Other time		3,724			3,660			3,530			3,524			3,793			3,909			4,015			4,167
Certificates—$100,000 and over		3,623			4,511			6,571			7,497			7,374			5,472			3,284			2,978
Other foreign office		—			—			—			—			47			—			79			78

Total deposits		95,952			96,874			99,275			94,126			93,454			91,624			89,517			84,688
Federal funds purchased		153			268			284			225			636			386			901			686
Other short-term borrowings		3,146			2,717			1,380			3,487			2,112			2,439			6,280			5,503
Other liabilities		3,842			3,698			5,245			5,057			5,941			4,693			4,347			4,710
Long-term debt		13,961			11,233			9,633			8,098			6,940			8,320			7,085			8,127

Total liabilities		117,054			114,790			115,817			110,993			109,083			107,462			108,130			103,714

Equity
Common and preferred equity		16,661			16,122			15,802			15,085			15,292			14,315			13,975			13,648
Net unrealized gains (losses):
Available-for-sale securities		410			231			121			268			203			381			412			494
Qualifying cash flow hedges		22			16			13			31			29			37			50			62
Accumulated other comprehensive income related to employee benefit plans		(50	)		(51	)		(52	)		(81	)		(83	)		(85	)		(87	)		(88	)
Treasury stock, at cost		(1,574	)		(1,492	)		(1,295	)		(662	)		(1,202	)		(766	)		(634	)		(398	)

Total Bancorp shareholders’ equity		15,469			14,826			14,589			14,641			14,239			13,882			13,716			13,718
Noncontrolling interests		39			38			37			39			38			38			48			51

Total equity		15,508			14,864			14,626			14,680			14,277			13,920			13,764			13,769

Total liabilities and equity	$	132,562		$	129,654		$	130,443		$	125,673		$	123,360		$	121,382		$	121,894		$	117,483

Share Data
Preferred shares outstanding—Series G		—			—			—			—			16,442			16,450			16,450			16,450
Preferred shares outstanding—Series H		24,000			24,000			24,000			24,000			24,000			—			—			—
Preferred shares outstanding—Series I		18,000			18,000			18,000			—			—			—			—			—
Preferred shares outstanding—Series J		12,000			—			—			—			—			—			—			—
Common shares outstanding, excluding treasury		844,488,849			847,568,728			855,305,745			887,029,539			851,473,955			874,644,725			882,152,057			897,467,317
Treasury shares held		79,403,732			76,323,853			68,586,836			36,863,042			72,418,626			49,247,856			41,740,524			26,425,263

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Quarterly Data


	Three Months Ended
	June			March			December			September			June			March			December			September
	2014			2014			2013			2013			2013			2013			2012			2012
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	91,241		$	90,238		$	88,865			89,154		$	89,473		$	88,880		$	86,180		$	84,829
Taxable securities		21,706			20,385			18,383			16,590			15,346			15,224			15,187			15,005
Tax exempt securities		52			46			48			44			55			51			57			48
Other short-term investments		2,182			2,509			4,612			1,894			1,561			1,571			1,521			1,535

Total interest-earning assets		115,181			113,178			111,908			107,682			106,435			105,726			102,945			101,417
Cash and due from banks		2,847			2,850			2,956			2,380			2,359			2,225			2,442			2,368
Other assets		14,417			14,478			14,986			15,015			15,198			15,016			15,468			15,749
Allowance for loan and lease losses		(1,480	)		(1,576	)		(1,671	)		(1,731	)		(1,780	)		(1,850	)		(1,912	)		(2,013	)

Total assets	$	130,965		$	128,930		$	128,179		$	123,346		$	122,212		$	121,117		$	118,943		$	117,521

Liabilities
Interest-bearing liabilities:
Interest checking	$	25,222		$	25,911		$	24,650		$	23,116		$	22,796		$	23,763		$	23,556		$	22,967
Savings		16,509			16,903			17,323			18,026			18,864			19,576			20,216			21,283
Money market		13,942			12,439			11,285			9,693			8,918			7,932			6,026			4,776
Foreign office		2,200			2,017			1,717			1,755			1,418			1,102			1,174			1,345
Other time		3,693			3,616			3,529			3,676			3,859			3,982			4,094			4,224
Certificates—$100,000 and over		3,840			5,576			7,456			7,315			6,519			4,017			3,084			3,016
Other foreign office		—			—			—			17			10			40			32			32
Federal funds purchased		606			547			301			464			560			691			794			664
Other short-term borrowings		2,234			1,808			2,177			1,675			2,867			5,429			4,553			4,856
Long-term debt		12,524			10,313			9,135			7,453			7,552			7,506			7,891			8,863

Total interest-bearing liabilities		80,770			79,130			77,573			73,190			73,363			74,038			71,420			72,026
Demand deposits		31,275			30,626			30,765			30,655			29,682			28,565			29,223			27,127
Other liabilities		3,724			4,274			5,045			5,023			4,908			4,687			4,394			4,430

Total liabilities		115,769			114,030			113,383			108,868			107,953			107,290			105,037			103,583
Equity		15,196			14,900			14,796			14,478			14,259			13,827			13,906			13,938

Total liabilities and equity	$	130,965		$	128,930		$	128,179		$	123,346		$	122,212		$	121,117		$	118,943		$	117,521

Average loans and leases (excluding held for sale)	$	90,549		$	89,530		$	87,895		$	87,272		$	86,707		$	85,903		$	83,943		$	82,888
Average common shares outstanding:
Basic		838,492,046			845,860,065			868,077,089			880,182,513			858,582,710			870,923,074			884,676,065			904,474,989
Diluted		848,245,111			857,923,596			877,510,663			888,111,269			900,625,454			913,163,262			925,585,306			944,820,608

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Quarterly Data


	Three Months Ended
	June			March			December			September			June			March			December			September
	2014			2014			2013			2013			2013			2013			2012			2012
End of Period Loans and Leases ($ in millions)^{(net of unearned discount)}
Commercial:
Commercial and industrial loans	$	41,364		$	40,692		$	39,347		$	38,260		$	37,868		$	36,782		$	36,077		$	33,357
Commercial mortgage loans		7,807			7,959			8,069			8,058			8,450			8,777			9,116			9,368
Commercial construction loans		1,426			1,220			1,041			879			758			699			707			683
Commercial leases		3,572			3,577			3,626			3,572			3,570			3,568			3,549			3,549

Subtotal—commercial		54,169			53,448			52,083			50,769			50,646			49,826			49,449			46,957
Consumer:
Residential mortgage loans		13,250			13,275			13,570			13,832			14,513			14,713			14,873			13,449
Home equity		9,056			9,125			9,246			9,356			9,531			9,727			10,018			10,238
Automobile loans		12,050			12,088			11,984			12,072			12,015			11,741			11,972			11,912
Credit card		2,261			2,177			2,294			2,157			2,114			2,043			2,097			1,994
Other consumer loans and leases		380			372			381			375			361			317			312			311

Subtotal—consumer		36,997			37,037			37,475			37,792			38,534			38,541			39,272			37,904

Total loans and leases	$	91,166		$	90,485		$	89,558		$	88,561		$	89,180		$	88,367		$	88,721		$	84,861

Average Loans and Leases ($ in millions)^{(net of unearned discount)}
Commercial:
Commercial and industrial loans	$	41,451		$	40,409		$	38,846		$	38,145		$	37,636		$	36,423		$	34,311		$	33,124
Commercial mortgage loans		7,886			7,983			8,051			8,280			8,627			8,978			9,209			9,592
Commercial construction loans		1,364			1,118			955			797			717			700			697			751
Commercial leases		3,556			3,607			3,579			3,574			3,553			3,557			3,509			3,483

Subtotal—commercial		54,257			53,117			51,431			50,796			50,533			49,658			47,726			46,950
Consumer:
Residential mortgage loans		13,202			13,304			13,544			14,333			14,984			14,866			14,028			13,458
Home equity		9,101			9,194			9,296			9,432			9,625			9,872			10,129			10,312
Automobile loans		12,070			12,023			12,019			12,083			11,887			12,096			11,944			11,812
Credit card		2,232			2,230			2,202			2,140			2,071			2,069			2,029			1,971
Other consumer loans and leases		379			370			373			370			373			319			324			326

Subtotal—consumer		36,984			37,121			37,434			38,358			38,940			39,222			38,454			37,879

Total average loans and leases	$	91,241		$	90,238		$	88,865		$	89,154		$	89,473		$	88,880		$	86,180		$	84,829

Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	323		$	398		$	387		$	391		$	551		$	618		$	665		$	808
Nonaccrual loans held for sale		5			3			6			11			15			16			25			38
Restructured loans—commercial (nonaccrual) held for sale		—			—			—			—			—			3			4			5
Restructured loans and leases (nonaccrual) portfolio		317			335			364			379			358			333			364			345
OREO and other repossessed property^(a)		192			213			229			244			241			259			257			293

Total nonperforming assets	$	837		$	949		$	986		$	1,025		$	1,165		$	1,229		$	1,315		$	1,489

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

Nonperforming Loans ($ in millions)^{(nonaccrual plus renegotiated)}
Commercial and industrial loans and leases	$	249		$	301		$	287		$	310		$	356		$	323		$	345		$	401
Commercial mortgage loans		141			147			146			187			235			260			296			356
Commercial construction loans		10			19			31			34			47			74			85			93
Residential mortgage loans		117			141			165			166			202			221			237			254
Home equity and other consumer loans and leases		128			128			128			84			84			92			95			93

Total nonperforming loans and leases (including held for sale)	$	645		$	736		$	757		$	781		$	924		$	970		$	1,058		$	1,197

Credit Charge-Offs ($ in millions)
Gross charge-offs	$	(127	)	$	(190	)	$	(183	)	$	(141	)	$	(145	)	$	(168	)	$	(177	)	$	(188	)
Recoveries		26			22			35			32			33			35			30		$	32

Net losses charged off	$	(101	)	$	(168	)	$	(148	)	$	(109	)	$	(112	)	$	(133	)	$	(147	)	$	(156	)

(a)

Excludes OREO related to government insured loans.

Page 6

Jim Eglseder

Laura Wehby

SVP / Investor Relations

VP / Investor Relations

(513) 534-8424

(513) 534-7407