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

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8-K - FORM 8-K - FIFTH THIRD BANCORP	d660158d8k.htm
EX-99.2 - EX-99.2 - FIFTH THIRD BANCORP	d660158dex992.htm
EX-99.1 - EX-99.1 - FIFTH THIRD BANCORP	d660158dex991.htm
EX-99.4 - EX-99.4 - FIFTH THIRD BANCORP	d660158dex994.htm

Exhibit 99.3

January 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
	December 2013		September 2013		June 2013		March 2013		December 2012		September 2012		June 2012		March 2012

Ratios (percent)
Return on average assets		1.24		1.35		1.94		1.41		1.33		1.23		1.32		1.49
Return on average common equity		10.8		12.1		17.3		12.5		11.5		10.4		11.4		13.1
Average Bancorp shareholders’ equity as a percent of average assets		11.51		11.71		11.64		11.38		11.65		11.82		11.58		11.49
Net interest margin^(a)		3.21		3.31		3.33		3.42		3.49		3.56		3.56		3.61
Efficiency^(a)		61.5		59.2		53.2		59.8		65.2		63.7		59.4		58.3
Net losses charged off as a percent of average loans and leases		0.67		0.49		0.51		0.63		0.70		0.75		0.88		1.08
ALLL as a percent of portfolio loans and leases		1.79		1.92		1.99		2.08		2.16		2.32		2.45		2.59
Allowance for credit losses as a percent of portfolio loans and leases		1.97		2.11		2.18		2.28		2.37		2.53		2.66		2.81
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO^(b)		1.10		1.16		1.32		1.41		1.49		1.73		1.96		2.03
Allowance for loan and lease losses as a percent of nonperforming assets^(b)		161		165		151		147		144		133		125		127
Allowance for credit losses as a percent of nonperforming assets^(b)		178		182		165		161		158		145		136		138
Common Share Data
Earnings per share	$	0.44	$	0.47	$	0.67	$	0.47	$	0.44	$	0.39	$	0.41	$	0.46
Earnings per diluted share	$	0.43	$	0.47	$	0.65	$	0.46	$	0.43	$	0.38	$	0.40	$	0.45
Cash dividends per common share		0.12		0.12		0.12		0.11		0.10		0.10		0.08		0.08
Book value per share		15.85		15.84		15.56		15.42		15.10		14.84		14.56		14.30
Common shares outstanding, excluding treasury		855,305,745		887,029,539		851,473,955		874,644,725		882,152,057		897,467,317		918,913,253		920,056,340
Market price per share:
High	$	21.04	$	19.69	$	18.60	$	16.61	$	16.16	$	15.95	$	14.67	$	14.73
Low		17.50		18.04		15.80		15.35		13.75		13.07		12.04		12.78
End of period		21.03		18.05		18.05		16.31		15.20		15.51		13.40		14.04
Supplemental Data
Common dividends declared ($ in millions)	$	103	$	106	$	102	$	96	$	88	$	89	$	74	$	74
Full-time equivalent employees		19,446		20,256		20,569		20,744		20,798		20,789		20,888		21,206
Banking centers		1,320		1,326		1,326		1,320		1,325		1,320		1,322		1,315
ATMs		2,586		2,374		2,433		2,426		2,415		2,404		2,409		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
	December			September			June			March			December			September			June			March
	2013			2013			2013			2013			2012			2012			2012			2012
Income Statement ($ in millions)
Interest income (FTE)	$	1,007		$	997		$	989		$	1,000		$	1,020		$	1,027		$	1,031		$	1,045
Interest expense		102			99			104			107			117			120			132			142

Net interest income (FTE)		905			898			885			893			903			907			899			903
Provision for loan and lease losses		53			51			64			62			76			65			71			91
Noninterest income:
Service charges on deposits		142			140			136			131			134			128			130			129
Investment advisory revenue		98			97			98			100			93			92			93			96
Corporate banking revenue		94			102			106			99			114			101			102			97
Mortgage banking net revenue		126			121			233			220			258			200			183			204
Card and processing revenue		71			69			67			65			66			65			64			59
Other noninterest income		170			185			414			109			215			78			103			175
Securities gains, net		2			2			—			17			2			2			3			9
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—			5			6			2			(2	)		5			—			—

Total noninterest income		703			721			1,060			743			880			671			678			769
Noninterest expense:
Salaries, wages and incentives		388			389			404			399			416			399			393			399
Employee benefits		78			83			83			114			96			79			84			112
Net occupancy expense		77			75			76			79			76			76			74			77
Technology and communications		53			52			50			49			52			49			48			47
Equipment expense		29			29			28			28			27			28			27			27
Card and processing expense		37			33			33			31			31			30			30			30
Other noninterest expense		327			298			361			278			465			345			281			281

Total noninterest expense		989			959			1,035			978			1,163			1,006			937			973
Income before income taxes (FTE)		566			609			846			596			544			507			569			608
Taxable equivalent adjustment		5			5			5			5			4			4			4			5

Income before income taxes		561			604			841			591			540			503			565			603
Applicable income tax		159			183			250			179			144			139			180			173

Net income	$	402		$	421		$	591		$	412		$	396		$	364		$	385		$	430
Less: Net income attributable to noncontrolling interests		—			—			—			(10	)		(3	)		1			—			—

Net income attributable to Bancorp	$	402		$	421		$	591		$	422		$	399		$	363		$	385		$	430
Dividends on preferred stock		19			—			9			9			9			9			9			9

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

*Regulatory Capital Data ($ in millions)^(a)***
Tier I capital	$	12,094		$	12,762		$	12,426		$	11,878		$	11,685		$	11,594		$	13,093		$	12,860
Tier II capital		4,348			3,674			3,675			3,853			4,131			4,183			4,188			4,076

Total risk-based capital	$	16,442		$	16,436		$	16,101		$	15,731		$	15,816		$	15,777		$	17,281		$	16,936

Risk-weighted assets	$	116,836		$	114,544		$	112,285		$	109,626		$	109,699		$	106,858		$	106,398		$	105,412

Tier I risk-based capital ratio		10.35	%		11.14	%		11.07	%		10.83	%		10.65	%		10.85	%		12.31	%		12.20	%
Total risk-based capital ratio		14.07	%		14.35	%		14.34	%		14.35	%		14.42	%		14.76	%		16.24	%		16.07	%
Tier I leverage ratio		9.64	%		10.58	%		10.40	%		10.03	%		10.05	%		10.09	%		11.39	%		11.31	%
Tier I common equity ratio		9.38	%		9.88	%		9.43	%		9.70	%		9.51	%		9.67	%		9.77	%		9.64	%

(a)

Current period regulatory capital data and ratios are estimated.

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Quarterly Data


	As of
	December			September			June			March			December			September			June			March
	2013			2013			2013			2013			2012			2012			2012			2012
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	3,178		$	2,887		$	2,390		$	2,186		$	2,441		$	2,490		$	2,393		$	2,235
Available-for-sale and other securities		18,597			18,080			16,187			15,263			15,207			15,402			15,552			16,093
Held-to-maturity securities		208			265			274			283			284			287			305			321
Trading securities		343			246			219			218			207			205			200			195
Other short-term investments		5,116			2,622			1,109			2,286			2,421			1,286			1,964			1,628

Total cash and securities		27,442			24,100			20,179			20,236			20,560			19,670			20,414			20,472
Loans held for sale		944			1,330			2,148			2,691			2,939			1,802			1,863			1,584
Portfolio loans and leases		88,614			87,231			87,032			85,676			85,782			83,059			82,359			82,113

Total loans and leases		89,558			88,561			89,180			88,367			88,721			84,861			84,222			83,697
Allowance for loan and lease losses		(1,582	)		(1,677	)		(1,735	)		(1,783	)		(1,854	)		(1,925	)		(2,016	)		(2,126	)
Bank premises and equipment		2,531			2,528			2,540			2,540			2,542			2,520			2,506			2,485
Operating lease equipment		730			707			645			598			581			542			511			495
Goodwill		2,416			2,416			2,416			2,416			2,416			2,417			2,417			2,417
Intangible assets		19			21			23			25			27			30			33			36
Servicing rights		971			919			899			772			697			679			736			767
Other real estate owned		299			312			301			316			320			356			338			383
Other assets		8,059			7,786			8,912			7,895			7,884			8,333			8,382			8,121

Total assets	$	130,443		$	125,673		$	123,360		$	121,382		$	121,894		$	117,483		$	117,543		$	116,747

Liabilities
Deposits:
Demand	$	32,634		$	30,153		$	30,097		$	30,027		$	30,023		$	27,606		$	26,251		$	26,385
Interest checking		25,875			23,527			22,878			23,175			24,477			22,891			23,197			23,971
Savings		17,045			17,583			18,448			19,339			19,879			20,624			22,011			22,245
Money market		11,644			10,433			9,247			8,613			6,875			5,285			4,223			4,275
Foreign office		1,976			1,409			1,570			1,089			885			1,059			1,265			1,251
Other time		3,530			3,524			3,793			3,909			4,015			4,167			4,261			4,446
Certificates—$100,000 and over		6,571			7,497			7,374			5,472			3,284			2,978			3,065			3,162
Other foreign office		—			—			47			—			79			78			—			56

Total deposits		99,275			94,126			93,454			91,624			89,517			84,688			84,273			85,791
Federal funds purchased		284			225			636			386			901			686			641			319
Other short-term borrowings		1,380			3,487			2,112			2,439			6,280			5,503			4,613			2,877
Other liabilities		5,245			5,057			5,941			4,693			4,347			4,710			4,507			4,502
Long-term debt		9,633			8,098			6,940			8,320			7,085			8,127			9,685			9,648

Total liabilities		115,817			110,993			109,083			107,462			108,130			103,714			103,719			103,137

Equity
Common and preferred equity		15,802			15,085			15,292			14,315			13,975			13,648			13,402			13,154
Net unrealized gains (losses):
Available-for-sale securities		121			268			203			381			412			494			476			487
Qualifying cash flow hedges		13			31			29			37			50			62			69			73
Accumulated other comprehensive income related to employee benefit plans		(52	)		(81	)		(83	)		(85	)		(87	)		(88	)		(91	)		(92	)
Treasury stock, at cost		(1,295	)		(662	)		(1,202	)		(766	)		(634	)		(398	)		(83	)		(62	)

Total Bancorp shareholders’ equity		14,589			14,641			14,239			13,882			13,716			13,718			13,773			13,560
Noncontrolling interests		37			39			38			38			48			51			51			50

Total equity		14,626			14,680			14,277			13,920			13,764			13,769			13,824			13,610

Total liabilities and equity	$	130,443		$	125,673		$	123,360		$	121,382		$	121,894		$	117,483		$	117,543		$	116,747

Share Data
Preferred shares outstanding—Series G		—			—			16,442			16,450			16,450			16,450			16,450			16,450
Preferred shares outstanding—Series H		24,000			24,000			24,000			—			—			—			—			—
Preferred shares outstanding—Series I		18,000			—			—			—			—			—			—			—
Common shares outstanding, excluding treasury		855,305,745			887,029,539			851,473,955			874,644,725			882,152,057			897,467,317			918,913,253			920,056,340
Treasury shares held		68,586,836			36,863,042			72,418,626			49,247,856			41,740,524			26,425,263			4,979,328			3,836,240

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Quarterly Data


	Three Months Ended
	December			September			June			March			December			September			June			March
	2013			2013			2013			2013			2012			2012			2012			2012
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	88,865		$	89,154		$	89,473			88,880		$	86,180		$	84,829		$	84,508		$	83,757
Taxable securities		18,383			16,590			15,346			15,224			15,187			15,005			15,548			15,313
Tax exempt securities		48			44			55			51			57			48			62			59
Other short-term investments		4,612			1,894			1,561			1,571			1,521			1,535			1,558			1,363

Total interest-earning assets		111,908			107,682			106,435			105,726			102,945			101,417			101,676			100,492
Cash and due from banks		2,956			2,380			2,359			2,225			2,442			2,368			2,264			2,345
Other assets		14,986			15,015			15,198			15,016			15,468			15,749			15,835			15,734
Allowance for loan and lease losses		(1,671	)		(1,731	)		(1,780	)		(1,850	)		(1,912	)		(2,013	)		(2,121	)		(2,246	)

Total assets	$	128,179		$	123,346		$	122,212		$	121,117		$	118,943		$	117,521		$	117,654		$	116,325

Liabilities
Interest-bearing liabilities:
Interest checking	$	24,650		$	23,116		$	22,796		$	23,763		$	23,556		$	22,967		$	23,548		$	22,308
Savings		17,323			18,026			18,864			19,576			20,216			21,283			22,143			21,944
Money market		11,285			9,693			8,918			7,932			6,026			4,776			4,258			4,543
Foreign office		1,717			1,755			1,418			1,102			1,174			1,345			1,321			2,277
Other time		3,529			3,676			3,859			3,982			4,094			4,224			4,359			4,551
Certificates—$100,000 and over		7,456			7,315			6,519			4,017			3,084			3,016			3,130			3,178
Other foreign office		—			17			10			40			32			32			23			19
Federal funds purchased		301			464			560			691			794			664			408			370
Other short-term borrowings		2,177			1,675			2,867			5,429			4,553			4,856			4,303			3,261
Long-term debt		9,135			7,453			7,552			7,506			7,891			8,863			9,669			9,768

Total interest-bearing liabilities		77,573			73,190			73,363			74,038			71,420			72,026			73,162			72,219
Demand deposits		30,765			30,655			29,682			28,565			29,223			27,127			26,351			26,063
Other liabilities		5,045			5,023			4,908			4,687			4,394			4,430			4,462			4,627

Total liabilities		113,383			108,868			107,953			107,290			105,037			103,583			103,975			102,909
Equity		14,796			14,478			14,259			13,827			13,906			13,938			13,679			13,416

Total liabilities and equity	$	128,179		$	123,346		$	122,212		$	121,117		$	118,943		$	117,521		$	117,654		$	116,325

Average loans and leases (excluding held for sale)	$	87,895		$	87,272		$	86,707		$	85,903		$	83,943		$	82,888		$	82,586		$	81,500
Average common shares outstanding:
Basic		868,077,089			880,182,513			858,582,710			870,923,074			884,676,065			904,474,989			913,540,510			915,225,816
Diluted		877,510,663			888,111,269			900,625,454			913,163,262			925,585,306			944,820,608			954,622,463			957,415,527

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Quarterly Data


	Three Months Ended
	December			September			June			March			December			September			June			March
	2013			2013			2013			2013			2012			2012			2012			2012
End of Period Loans and Leases ($ in millions)^{(net of unearned discount)}
Commercial:
Commercial and industrial loans	$	39,347		$	38,260		$	37,868		$	36,782		$	36,077		$	33,357		$	32,625		$	32,203
Commercial mortgage loans		8,069			8,058			8,450			8,777			9,116			9,368			9,697			9,976
Commercial construction loans		1,041			879			758			699			707			683			834			916
Commercial leases		3,626			3,572			3,570			3,568			3,549			3,549			3,471			3,512

Subtotal—commercial		52,083			50,769			50,646			49,826			49,449			46,957			46,627			46,607
Consumer:
Residential mortgage loans		13,570			13,832			14,513			14,713			14,873			13,449			13,218			12,523
Home equity		9,246			9,356			9,531			9,727			10,018			10,238			10,377			10,493
Automobile loans		11,984			12,072			12,015			11,741			11,972			11,912			11,739			11,832
Credit card		2,294			2,157			2,114			2,043			2,097			1,994			1,943			1,896
Other consumer loans and leases		381			375			361			317			312			311			318			346

Subtotal—consumer		37,475			37,792			38,534			38,541			39,272			37,904			37,595			37,090

Total loans and leases	$	89,558		$	88,561		$	89,180		$	88,367		$	88,721		$	84,861		$	84,222		$	83,697

Average Loans and Leases ($ in millions)^{(net of unearned discount)}
Commercial:
Commercial and industrial loans	$	38,846		$	38,145		$	37,636		$	36,423		$	34,311		$	33,124		$	32,770		$	31,421
Commercial mortgage loans		8,051			8,280			8,627			8,978			9,209			9,592			9,873			10,077
Commercial construction loans		955			797			717			700			697			751			886			1,008
Commercial leases		3,579			3,574			3,553			3,557			3,509			3,483			3,471			3,543

Subtotal—commercial		51,431			50,796			50,533			49,658			47,726			46,950			47,000			46,049
Consumer:
Residential mortgage loans		13,544			14,333			14,984			14,866			14,028			13,458			13,059			12,928
Home equity		9,296			9,432			9,625			9,872			10,129			10,312			10,430			10,606
Automobile loans		12,019			12,083			11,887			12,096			11,944			11,812			11,755			11,882
Credit card		2,202			2,140			2,071			2,069			2,029			1,971			1,915			1,926
Other consumer loans and leases		373			370			373			319			324			326			349			366

Subtotal—consumer		37,434			38,358			38,940			39,222			38,454			37,879			37,508			37,708

Total average loans and leases	$	88,865		$	89,154		$	89,473		$	88,880		$	86,180		$	84,829		$	84,508		$	83,757

Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	387		$	391		$	551		$	618		$	665		$	808		$	1,002		$	994
Nonaccrual loans held for sale		6			11			15			16			25			38			55			110
Restructured loans—commercial (nonaccrual) held for sale		—			—			—			3			4			5			5			7
Restructured loans and leases (nonaccrual) portfolio		364			379			358			333			364			345			340			358
Other assets, including other real estate owned		229			244			241			259			257			293			277			321

Total nonperforming assets	$	986		$	1,025		$	1,165		$	1,229		$	1,315		$	1,489		$	1,679		$	1,790

Ninety days past due loans and leases	$	103		$	156		$	152		$	164		$	195		$	201		$	203		$	216

Nonperforming Loans ($ in millions)^{(nonaccrual plus renegotiated)}
Commercial and industrial loans and leases	$	287		$	310		$	356		$	323		$	345		$	401		$	471		$	489
Commercial mortgage loans		146			187			235			260			296			356			449			470
Commercial construction loans		31			34			47			74			85			93			123			146
Residential mortgage loans		165			166			202			221			237			254			260			265
Other consumer loans and leases		128			84			84			92			95			93			99			99

Total nonperforming loans and leases (including held for sale)	$	757		$	781		$	924		$	970		$	1,058		$	1,197		$	1,402		$	1,469

Credit Charge-Offs ($ in millions)
Gross charge-offs	($	183	)	($	141	)	($	145	)	($	168	)	($	177	)	($	188	)	($	219	)	($	253	)
Recoveries		35			32			33			35			30			32			38		$	33

Net losses charged off	($	148	)	($	109	)	($	112	)	($	133	)	($	147	)	($	156	)	($	181	)	($	220	)

Page 6

Jim Eglseder

Laura Wehby

VP / Investor Relations

VP / Investor Relations

(513) 534-8424

(513) 534-7407