Fifth Third Bancorp reported second quarter 2007 earnings of $0.69 per diluted share, up slightly from the previous quarter and flat compared to the second quarter of 2006. Net interest income increased 4% year-over-year due to balance sheet actions in late 2006. Loan balances grew 5% year-over-year while deposit balances were flat. Noninterest income increased 9% sequentially and 8% year-over-year due to growth across fee categories. Credit quality deteriorated with provision for loan losses increasing 70% from the second quarter of 2006, reflecting challenges in the current credit cycle.
Fifth Third Bancorp reported third quarter 2007 earnings of $376 million, or $0.71 per diluted share. Net interest income increased 2% sequentially and 6% year-over-year. Average loans grew 2% sequentially and 6% year-over-year. Noninterest income grew 2% sequentially and 9% year-over-year, driven by increases in electronic payment processing, service charges on deposits, and corporate banking revenue. Credit quality remained challenging with provision for loan and lease losses up 14% sequentially.
Fifth Third Bancorp reported first quarter 2007 earnings of $359 million, or $0.65 per diluted share, compared to $66 million in the previous quarter and $363 million in the first quarter of 2006. Net interest income was $742 million, flat compared to the previous quarter but up 3% year-over-year. Noninterest income was $648 million, significantly higher than the previous quarter due to securities losses in that quarter, and up 5% year-over-year. Average loans grew 1% sequentially and 6% year-over-year, while average deposits declined 2% sequentially but grew 1% year-over-year.
Fifth Third Bancorp reported 2007 earnings of $1.1 billion, or $2.03 per diluted share, compared to $1.2 billion, or $2.13 per diluted share in 2006. Fourth quarter 2007 earnings were $38 million, or $0.07 per diluted share, compared to $325 million, or $0.61 per diluted share in the third quarter of 2007. Results were impacted by non-cash charges including lowering the value of a Bank-Owned Life Insurance policy and reserves related to potential Visa litigation settlements. Excluding these items, operating earnings were lower due to deterioration in credit performance and increased loan loss reserves in response to challenging credit conditions expected to continue in the near
Fifth Third Bancorp reported first quarter 2008 earnings of $292 million, or $0.55 per diluted share, compared to $16 million in the previous quarter and $359 million in the first quarter of 2007. Net interest income increased 11% year-over-year to $826 million due to loan and deposit growth as well as lower funding costs, while the net interest margin declined slightly. Loan balances grew 9% year-over-year led by increases in commercial and residential mortgage loans. Credit costs increased substantially due to deterioration in residential real estate, homebuilder, and development loans.
Fifth Third Bancorp reported a net loss for Q2 2008 due to charges related to leveraged leases. Excluding these charges, pre-tax earnings were up 16% year-over-year due to increases in noninterest income and average loans. However, credit costs increased significantly due to deteriorating economic conditions, particularly in real estate loans in Florida and Michigan. In response, Fifth Third raised capital levels and reduced the common dividend to strengthen its position during the economic downturn.
In 3 sentences:
BGC Partners reported their financial results for 4Q2012 compared to 4Q2011. Total revenue was $1.1 billion, down 1% from the previous year. Revenue from rates, credit, and equities declined due to lower industry volumes and quantitative easing, though foreign exchange revenue grew due to strong performance in electronic trading. Overall pre-tax earnings were $35.1 million in financial services and $12.6 million in real estate.
Progressive Waste Solutions Fourth-Quarter Supplemental Information PackageProgressiveWaste
Progressive Waste Solutions reported financial results for the fourth quarter and full year of 2012. Revenue increased 8.4% in Q4 2012 and 3.1% for the full year, driven by acquisitions completed in 2012 and price increases, partially offset by lower recycling revenue and volumes. Adjusted net income decreased 25.9% in Q4 2012 and 16.2% for the full year due to lower operating margins and higher financing costs related to acquisitions. The company continued its acquisition strategy in 2012, completing 19 acquisitions including seven in Q4, and remains focused on improving returns on invested capital.
The Progressive Corporation reported its second quarter 2008 financial results. Net premiums written declined 3% from the second quarter of 2007 to $7 billion. Net income was $450 million, down from $650 million in the prior year's second quarter. The combined ratio was 93.6%, reflecting strong underwriting profits but higher than the company's target of 96. Weather-related catastrophes including flooding in the Midwest contributed to losses and a higher combined ratio for the quarter.
Fifth Third Bancorp reported third quarter 2007 earnings of $376 million, or $0.71 per diluted share. Net interest income increased 2% sequentially and 6% year-over-year. Average loans grew 2% sequentially and 6% year-over-year. Noninterest income grew 2% sequentially and 9% year-over-year, driven by increases in electronic payment processing, service charges on deposits, and corporate banking revenue. Credit quality remained challenging with provision for loan and lease losses up 14% sequentially.
Fifth Third Bancorp reported first quarter 2007 earnings of $359 million, or $0.65 per diluted share, compared to $66 million in the previous quarter and $363 million in the first quarter of 2006. Net interest income was $742 million, flat compared to the previous quarter but up 3% year-over-year. Noninterest income was $648 million, significantly higher than the previous quarter due to securities losses in that quarter, and up 5% year-over-year. Average loans grew 1% sequentially and 6% year-over-year, while average deposits declined 2% sequentially but grew 1% year-over-year.
Fifth Third Bancorp reported 2007 earnings of $1.1 billion, or $2.03 per diluted share, compared to $1.2 billion, or $2.13 per diluted share in 2006. Fourth quarter 2007 earnings were $38 million, or $0.07 per diluted share, compared to $325 million, or $0.61 per diluted share in the third quarter of 2007. Results were impacted by non-cash charges including lowering the value of a Bank-Owned Life Insurance policy and reserves related to potential Visa litigation settlements. Excluding these items, operating earnings were lower due to deterioration in credit performance and increased loan loss reserves in response to challenging credit conditions expected to continue in the near
Fifth Third Bancorp reported first quarter 2008 earnings of $292 million, or $0.55 per diluted share, compared to $16 million in the previous quarter and $359 million in the first quarter of 2007. Net interest income increased 11% year-over-year to $826 million due to loan and deposit growth as well as lower funding costs, while the net interest margin declined slightly. Loan balances grew 9% year-over-year led by increases in commercial and residential mortgage loans. Credit costs increased substantially due to deterioration in residential real estate, homebuilder, and development loans.
Fifth Third Bancorp reported a net loss for Q2 2008 due to charges related to leveraged leases. Excluding these charges, pre-tax earnings were up 16% year-over-year due to increases in noninterest income and average loans. However, credit costs increased significantly due to deteriorating economic conditions, particularly in real estate loans in Florida and Michigan. In response, Fifth Third raised capital levels and reduced the common dividend to strengthen its position during the economic downturn.
In 3 sentences:
BGC Partners reported their financial results for 4Q2012 compared to 4Q2011. Total revenue was $1.1 billion, down 1% from the previous year. Revenue from rates, credit, and equities declined due to lower industry volumes and quantitative easing, though foreign exchange revenue grew due to strong performance in electronic trading. Overall pre-tax earnings were $35.1 million in financial services and $12.6 million in real estate.
Progressive Waste Solutions Fourth-Quarter Supplemental Information PackageProgressiveWaste
Progressive Waste Solutions reported financial results for the fourth quarter and full year of 2012. Revenue increased 8.4% in Q4 2012 and 3.1% for the full year, driven by acquisitions completed in 2012 and price increases, partially offset by lower recycling revenue and volumes. Adjusted net income decreased 25.9% in Q4 2012 and 16.2% for the full year due to lower operating margins and higher financing costs related to acquisitions. The company continued its acquisition strategy in 2012, completing 19 acquisitions including seven in Q4, and remains focused on improving returns on invested capital.
The Progressive Corporation reported its second quarter 2008 financial results. Net premiums written declined 3% from the second quarter of 2007 to $7 billion. Net income was $450 million, down from $650 million in the prior year's second quarter. The combined ratio was 93.6%, reflecting strong underwriting profits but higher than the company's target of 96. Weather-related catastrophes including flooding in the Midwest contributed to losses and a higher combined ratio for the quarter.
omnicom group Q3 2007 Investor Presentationfinance22
Omnicom Group presented results for the third quarter of 2007. Revenue increased 11.8% to $3.1 billion compared to the third quarter of 2006. Net income rose 14.2% to $202.2 million. Acquisition spending totaled $329 million for the first nine months of 2007, and potential future earn-out obligations total $374 million if acquired agencies maintain current performance levels through 2010 and beyond.
This document provides an overview of Xcel Energy's strategy to achieve financial success through environmental leadership. It summarizes the company's plans to reduce carbon emissions by 2020 through investments in wind, solar, and natural gas generation while expanding demand side management efforts. It also outlines Xcel's goals for annual earnings per share growth of 5-7% and dividend growth of 2-4% through 2020. The capital expenditure forecast estimates spending between $2.1-$2.2 billion annually through 2011 to fund these clean energy investments and system upgrades.
- Sallie Mae reported net income of $526 million for full year 2008 and $65 million for Q4 2008 according to generally accepted accounting principles (GAAP). However, using the non-GAAP measure of "Core Earnings", Sallie Mae had net income of $526 million for 2008 and $8 million for Q4 2008.
- Sallie Mae originated $17.9 billion in FFELP loans in 2008, a 67% increase from Q4 2007, with 90% of originations coming directly from Sallie Mae.
- As of December 31, 2008, Sallie Mae had $16.6 billion in primary and standby liquidity, including $5 billion
The Progressive Corporation reported its first quarterly loss since 2000 in its third quarter 2008 report. Progressive was impacted by market turmoil related to the mortgage and credit crises. Progressive had recognized losses on its investment portfolio due to declines in the stock market. However, the company's underlying insurance operations remained strong, with continued growth in policies in force and high customer retention rates.
omnicom group Q2 2007 Investor Presentationfinance22
The document provides an overview of Omnicom Group's second quarter 2007 results. It summarizes key financial metrics such as revenue growth of 10.7% year-over-year, operating income growth of 10.6%, and net income growth of 13.4%. The summary also breaks down revenue and growth by business discipline, geography, and sources of revenue growth including foreign exchange, acquisitions, and organic growth. Additional sections cover cash flow, credit profile, liquidity, acquisitions, and potential earn-out obligations.
1) Independent Bank Corporation held a 1st quarter 2009 earnings conference call to discuss financial results and challenges.
2) Key highlights included a net loss of $18.6 million due to a $30.8 million loan loss provision and credit costs, but pre-tax core earnings grew sequentially.
3) Challenges included a weak Michigan economy, high credit costs, and a $43.7 million deferred tax asset valuation allowance, but the net interest margin expanded and regulatory capital ratios remained strong.
Bank of Baroda reported a 9% quarter-on-quarter decline in adjusted net profit. Net interest income grew 19% year-over-year and 9% quarter-on-quarter. Loan growth was 22% year-over-year while deposit growth outpaced loans at 25%. Asset quality deteriorated sequentially with gross NPAs rising 6% quarter-on-quarter, but the coverage ratio remained adequate. The bank maintained a buy rating based on comfortable capital levels, best-in-class returns, and minimal concerns over asset quality.
This document summarizes Midwest investor meetings held by Xcel Energy in May and June 2005. It outlines Xcel's low-risk business strategy of investing in regulated utility assets to earn an authorized return on equity. Key points include Xcel operating as the 4th largest US electric and gas utility, growth opportunities through infrastructure investments, regulatory filings, and a total return objective of 7-9% per year through earnings growth and dividends.
This document outlines Xcel Energy's low-risk business strategy of investing in regulated utility assets to earn their authorized rate of return. Key points include:
- Xcel Energy aims for a total annual return of 7-9% through a 5% dividend yield and 2-4% earnings growth.
- Nearly 100% of income comes from regulated utility operations in 8 states, diversifying regulatory risk.
- Capital expenditure forecasts through 2009 will increase rate base and allow earning higher returns on equity.
- Regulatory initiatives are planned in various states from 2005-2007 to obtain rate increases.
1) Sallie Mae reported a net loss of $21 million for Q1 2009 compared to net income of $188 million for Q1 2008.
2) Key drivers of the decline were higher loan loss provisions, costs associated with debt refinancing, and the impact of lower interest rates on variable rate assets and liabilities.
3) Sallie Mae's liquidity position remained strong with $14 billion in primary and secondary sources of liquidity as of March 31, 2009.
More than a third of Canadians have withdrawn funds from their retirement savings plans, which could significantly impact their retirement. Reasons for withdrawals include buying a home, paying down debt, and covering day-to-day expenses. However, withdrawals deplete retirement savings and it is important to continue regular contributions. The article proposes a strategy to transfer funds from RRSPs to non-registered accounts in order to reduce taxes, allowing investments to grow more. Moving from fully taxable RRSPs to partially taxable non-registered accounts could substantially increase retirement savings over time.
First American sent its shareholders its 2007 Form 10-K and amendment instead of the annual report and proxy materials. The company's board will set a date for the annual shareholder meeting where proxy materials and a summary annual report will be provided. First American is separating its Financial Services and Information Solutions businesses into two independent publicly traded companies and will provide updates on its website and SEC filings.
Fifth Third Bancorp reported earnings per share of $0.65 for the first quarter of 2006, down from $0.72 in the first quarter of 2005. Net income totaled $363 million, down from $405 million in the first quarter of 2005. The company saw strong loan growth but margins compressed due to interest rate trends. Looking forward, Fifth Third expects improving performance as margins normalize and loan and fee income growth continues.
The document discusses Monsanto bringing its research plots to the Farm Progress Show, the largest outdoor farm show in the United States, for the second year. This gives Monsanto's customers the opportunity to see cutting-edge research performing in the field. Monsanto's presentation highlights advances across its platforms in traits, cotton, soybeans, breeding technology, and yield and stress tolerance. The company also discusses its annual R&D cycle and pipeline of potential blockbuster traits.
Virgin Media reported its fourth quarter 2008 results. Total revenue was £1.03 billion, a slight decrease from the previous year. Operational cash flow was £320 million. The company achieved record broadband, TV, and contract mobile customer numbers during the quarter. Virgin Media added 185,500 total revenue generating units in the quarter and increased its triple-play penetration rate to 55.9%.
- In 2006, Virgin Media was formed through the merger of NTL and Telewest, creating the largest cable operator in the UK serving over 5 million customers.
- The company now offers 'quad-play' services of television, broadband, home phone, and mobile phone under the Virgin brand across the UK.
- Performance has improved in 2006 through focus on bundling services, cross-selling, and improving customer service, growing consumer revenue and increasing penetration of triple-play packages. However, challenges remain from fixed-to-mobile substitution and aggressive broadband pricing.
- 2007 was a year of change, challenge, and achievement for the company as it integrated acquisitions and built its management team.
- The company saw strong growth in the second half of the year in revenue, broadband and television customer additions, and mobile contracts.
- The company is focused on driving further growth, improving customer experience, and increasing operational efficiency.
Fifth Third Bancorp reported third quarter 2007 earnings of $376 million, or $0.71 per diluted share. Net interest income increased 2% sequentially and 6% year-over-year. Average loans grew 2% sequentially and 6% year-over-year. Noninterest income grew 2% sequentially and 9% year-over-year, driven by increases in electronic payment processing, service charges on deposits, and corporate banking revenue. Credit quality remained challenging with provision for loan and lease losses up 14% sequentially.
Fifth Third Bancorp reported first quarter 2007 earnings of $359 million, or $0.65 per diluted share, compared to $66 million in the previous quarter and $363 million in the first quarter of 2006. Net interest income was $742 million, flat compared to the previous quarter but up 3% year-over-year. Noninterest income was $648 million, significantly higher than the previous quarter due to securities losses in that quarter, and up 5% year-over-year. Average loans grew 1% sequentially and 6% year-over-year, while average deposits declined 2% sequentially but grew 1% year-over-year.
Fifth Third Bancorp reported earnings for full year 2007 of $1.1 billion, down slightly from 2006. Earnings for Q4 2007 were $38 million, down significantly from previous quarters due to charges including a $155 million non-cash charge related to a decline in the value of a BOLI policy and $94 million in litigation reserves. Excluding these charges, operating earnings were relatively stable. Credit quality deteriorated during the quarter as loan loss provisions increased 105% from the previous quarter. Management expects further deterioration in credit conditions in the near term.
- Fifth Third Bancorp reported first quarter 2008 earnings of $292 million, or $0.55 per diluted share, compared to $16 million in Q4 2007 and $359 million in Q1 2007.
- Net interest income increased 11% year-over-year to $826 million due to loan and deposit growth as well as lower funding costs, while the net interest margin declined slightly.
- Loans grew 9% year-over-year led by commercial and industrial loans, while deposits increased 5% with growth in transaction and core deposits.
- Credit costs increased significantly due to deterioration in residential real estate, homebuilder, and development loans, particularly in Florida and Michigan.
Fifth Third Bancorp reported a net loss for Q2 2008 due to charges related to leveraged leases. Excluding these charges, pre-tax earnings were up 16% year-over-year due to increases in noninterest income and loans. However, credit costs rose significantly due to deteriorating economic conditions, particularly in real estate loans in Florida and Michigan. In response, Fifth Third raised capital levels and reduced dividends to strengthen its position for potential future losses.
omnicom group Q3 2007 Investor Presentationfinance22
Omnicom Group presented results for the third quarter of 2007. Revenue increased 11.8% to $3.1 billion compared to the third quarter of 2006. Net income rose 14.2% to $202.2 million. Acquisition spending totaled $329 million for the first nine months of 2007, and potential future earn-out obligations total $374 million if acquired agencies maintain current performance levels through 2010 and beyond.
This document provides an overview of Xcel Energy's strategy to achieve financial success through environmental leadership. It summarizes the company's plans to reduce carbon emissions by 2020 through investments in wind, solar, and natural gas generation while expanding demand side management efforts. It also outlines Xcel's goals for annual earnings per share growth of 5-7% and dividend growth of 2-4% through 2020. The capital expenditure forecast estimates spending between $2.1-$2.2 billion annually through 2011 to fund these clean energy investments and system upgrades.
- Sallie Mae reported net income of $526 million for full year 2008 and $65 million for Q4 2008 according to generally accepted accounting principles (GAAP). However, using the non-GAAP measure of "Core Earnings", Sallie Mae had net income of $526 million for 2008 and $8 million for Q4 2008.
- Sallie Mae originated $17.9 billion in FFELP loans in 2008, a 67% increase from Q4 2007, with 90% of originations coming directly from Sallie Mae.
- As of December 31, 2008, Sallie Mae had $16.6 billion in primary and standby liquidity, including $5 billion
The Progressive Corporation reported its first quarterly loss since 2000 in its third quarter 2008 report. Progressive was impacted by market turmoil related to the mortgage and credit crises. Progressive had recognized losses on its investment portfolio due to declines in the stock market. However, the company's underlying insurance operations remained strong, with continued growth in policies in force and high customer retention rates.
omnicom group Q2 2007 Investor Presentationfinance22
The document provides an overview of Omnicom Group's second quarter 2007 results. It summarizes key financial metrics such as revenue growth of 10.7% year-over-year, operating income growth of 10.6%, and net income growth of 13.4%. The summary also breaks down revenue and growth by business discipline, geography, and sources of revenue growth including foreign exchange, acquisitions, and organic growth. Additional sections cover cash flow, credit profile, liquidity, acquisitions, and potential earn-out obligations.
1) Independent Bank Corporation held a 1st quarter 2009 earnings conference call to discuss financial results and challenges.
2) Key highlights included a net loss of $18.6 million due to a $30.8 million loan loss provision and credit costs, but pre-tax core earnings grew sequentially.
3) Challenges included a weak Michigan economy, high credit costs, and a $43.7 million deferred tax asset valuation allowance, but the net interest margin expanded and regulatory capital ratios remained strong.
Bank of Baroda reported a 9% quarter-on-quarter decline in adjusted net profit. Net interest income grew 19% year-over-year and 9% quarter-on-quarter. Loan growth was 22% year-over-year while deposit growth outpaced loans at 25%. Asset quality deteriorated sequentially with gross NPAs rising 6% quarter-on-quarter, but the coverage ratio remained adequate. The bank maintained a buy rating based on comfortable capital levels, best-in-class returns, and minimal concerns over asset quality.
This document summarizes Midwest investor meetings held by Xcel Energy in May and June 2005. It outlines Xcel's low-risk business strategy of investing in regulated utility assets to earn an authorized return on equity. Key points include Xcel operating as the 4th largest US electric and gas utility, growth opportunities through infrastructure investments, regulatory filings, and a total return objective of 7-9% per year through earnings growth and dividends.
This document outlines Xcel Energy's low-risk business strategy of investing in regulated utility assets to earn their authorized rate of return. Key points include:
- Xcel Energy aims for a total annual return of 7-9% through a 5% dividend yield and 2-4% earnings growth.
- Nearly 100% of income comes from regulated utility operations in 8 states, diversifying regulatory risk.
- Capital expenditure forecasts through 2009 will increase rate base and allow earning higher returns on equity.
- Regulatory initiatives are planned in various states from 2005-2007 to obtain rate increases.
1) Sallie Mae reported a net loss of $21 million for Q1 2009 compared to net income of $188 million for Q1 2008.
2) Key drivers of the decline were higher loan loss provisions, costs associated with debt refinancing, and the impact of lower interest rates on variable rate assets and liabilities.
3) Sallie Mae's liquidity position remained strong with $14 billion in primary and secondary sources of liquidity as of March 31, 2009.
More than a third of Canadians have withdrawn funds from their retirement savings plans, which could significantly impact their retirement. Reasons for withdrawals include buying a home, paying down debt, and covering day-to-day expenses. However, withdrawals deplete retirement savings and it is important to continue regular contributions. The article proposes a strategy to transfer funds from RRSPs to non-registered accounts in order to reduce taxes, allowing investments to grow more. Moving from fully taxable RRSPs to partially taxable non-registered accounts could substantially increase retirement savings over time.
First American sent its shareholders its 2007 Form 10-K and amendment instead of the annual report and proxy materials. The company's board will set a date for the annual shareholder meeting where proxy materials and a summary annual report will be provided. First American is separating its Financial Services and Information Solutions businesses into two independent publicly traded companies and will provide updates on its website and SEC filings.
Fifth Third Bancorp reported earnings per share of $0.65 for the first quarter of 2006, down from $0.72 in the first quarter of 2005. Net income totaled $363 million, down from $405 million in the first quarter of 2005. The company saw strong loan growth but margins compressed due to interest rate trends. Looking forward, Fifth Third expects improving performance as margins normalize and loan and fee income growth continues.
The document discusses Monsanto bringing its research plots to the Farm Progress Show, the largest outdoor farm show in the United States, for the second year. This gives Monsanto's customers the opportunity to see cutting-edge research performing in the field. Monsanto's presentation highlights advances across its platforms in traits, cotton, soybeans, breeding technology, and yield and stress tolerance. The company also discusses its annual R&D cycle and pipeline of potential blockbuster traits.
Virgin Media reported its fourth quarter 2008 results. Total revenue was £1.03 billion, a slight decrease from the previous year. Operational cash flow was £320 million. The company achieved record broadband, TV, and contract mobile customer numbers during the quarter. Virgin Media added 185,500 total revenue generating units in the quarter and increased its triple-play penetration rate to 55.9%.
- In 2006, Virgin Media was formed through the merger of NTL and Telewest, creating the largest cable operator in the UK serving over 5 million customers.
- The company now offers 'quad-play' services of television, broadband, home phone, and mobile phone under the Virgin brand across the UK.
- Performance has improved in 2006 through focus on bundling services, cross-selling, and improving customer service, growing consumer revenue and increasing penetration of triple-play packages. However, challenges remain from fixed-to-mobile substitution and aggressive broadband pricing.
- 2007 was a year of change, challenge, and achievement for the company as it integrated acquisitions and built its management team.
- The company saw strong growth in the second half of the year in revenue, broadband and television customer additions, and mobile contracts.
- The company is focused on driving further growth, improving customer experience, and increasing operational efficiency.
Fifth Third Bancorp reported third quarter 2007 earnings of $376 million, or $0.71 per diluted share. Net interest income increased 2% sequentially and 6% year-over-year. Average loans grew 2% sequentially and 6% year-over-year. Noninterest income grew 2% sequentially and 9% year-over-year, driven by increases in electronic payment processing, service charges on deposits, and corporate banking revenue. Credit quality remained challenging with provision for loan and lease losses up 14% sequentially.
Fifth Third Bancorp reported first quarter 2007 earnings of $359 million, or $0.65 per diluted share, compared to $66 million in the previous quarter and $363 million in the first quarter of 2006. Net interest income was $742 million, flat compared to the previous quarter but up 3% year-over-year. Noninterest income was $648 million, significantly higher than the previous quarter due to securities losses in that quarter, and up 5% year-over-year. Average loans grew 1% sequentially and 6% year-over-year, while average deposits declined 2% sequentially but grew 1% year-over-year.
Fifth Third Bancorp reported earnings for full year 2007 of $1.1 billion, down slightly from 2006. Earnings for Q4 2007 were $38 million, down significantly from previous quarters due to charges including a $155 million non-cash charge related to a decline in the value of a BOLI policy and $94 million in litigation reserves. Excluding these charges, operating earnings were relatively stable. Credit quality deteriorated during the quarter as loan loss provisions increased 105% from the previous quarter. Management expects further deterioration in credit conditions in the near term.
- Fifth Third Bancorp reported first quarter 2008 earnings of $292 million, or $0.55 per diluted share, compared to $16 million in Q4 2007 and $359 million in Q1 2007.
- Net interest income increased 11% year-over-year to $826 million due to loan and deposit growth as well as lower funding costs, while the net interest margin declined slightly.
- Loans grew 9% year-over-year led by commercial and industrial loans, while deposits increased 5% with growth in transaction and core deposits.
- Credit costs increased significantly due to deterioration in residential real estate, homebuilder, and development loans, particularly in Florida and Michigan.
Fifth Third Bancorp reported a net loss for Q2 2008 due to charges related to leveraged leases. Excluding these charges, pre-tax earnings were up 16% year-over-year due to increases in noninterest income and loans. However, credit costs rose significantly due to deteriorating economic conditions, particularly in real estate loans in Florida and Michigan. In response, Fifth Third raised capital levels and reduced dividends to strengthen its position for potential future losses.
Fifth Third Bancorp reported a Q3 2008 net loss of $56 million, compared to a net loss of $202 million in Q2 2008 and net income of $325 million in Q3 2007. Higher credit costs drove the results, as non-performing assets and net charge-offs increased, particularly for commercial and residential real estate loans in Florida and Michigan. However, core earnings were positive, with revenue growth across most business lines and expense control. While facing disruptions in capital markets and a weakening economy, the company remains well-capitalized with a Tier 1 capital ratio of 8.53%.
Fifth Third Bancorp reported a Q3 2008 net loss of $56 million, compared to a net loss of $202 million in Q2 2008 and net income of $325 million in Q3 2007. Higher credit costs drove the results, as non-performing assets and net charge-offs increased, particularly for commercial and residential real estate loans in Florida and Michigan. However, core earnings were positive, with revenue growth across most business lines and expense control. While facing disruptions in capital markets and a weakening economy, the company remains well-capitalized with a Tier 1 capital ratio of 8.53%.
The Progressive Corporation reported its second quarter 2008 financial results. Net premiums written declined 3% from the second quarter of 2007 to $7 billion. Net income was $450 million, down from $650 million in the prior year's second quarter. The combined ratio was 93.6%, reflecting strong underwriting profits but higher than the company's target of 96. Weather-related catastrophes including flooding in the Midwest contributed to losses and a higher combined ratio for the quarter.
Raytheon reported strong third quarter 2007 results with bookings of $6.5 billion and sales of $5.4 billion, up 8% from the prior year. Earnings per share from continuing operations were $0.69, up 17% year-over-year. Raytheon also announced a new $2 billion share repurchase program and the pending sale of its Flight Options subsidiary. Segment results were positive across Integrated Defense Systems, Missile Systems, Network Centric Systems and Intelligence and Information Systems on higher sales and margins.
The Progressive Corporation reported strong financial results for the first half of 2004, with net income of $846.3 million, up 46% from the same period in 2003. Net premiums earned grew 18% to $6.3 billion due to a 12% increase in net premiums written. The combined ratio was 84.3%, substantially better than industry averages. Progressive expects growth to slow as fewer customers actively shop for better rates in the stable market conditions. The company made progress on initiatives to improve claims handling and customer service.
The Progressive Corporation reported strong financial results for the second quarter and first half of 2004. Net income increased 35% for the quarter and 46% year-to-date, driven by higher revenues and improved underwriting margins. Underwriting margins increased to 15.7% for the quarter and improved loss frequency and severity trends contributed to profitability. While growth was solid, the company expects new business growth to slow in the current market environment of low rates and less customer shopping. Progressive aims to continue improving customer service and expanding successful initiatives to outperform competitors over the long run.
The annual shareholder's meeting document summarized the following key points in 3 sentences:
The document outlined the agenda for Life Time Fitness' annual shareholder's meeting, including a formal business meeting to elect directors and ratify auditors. It also provided summaries of management presentations on the company's 2009 performance, 2010 goals to improve sales and reduce member attrition, and maintaining a strong financial position. The meeting concluded with a question and answer session for shareholders.
This document provides annual performance ratios for E.I. DuPont de Nemours and Company for the years 2007-2003. It includes metrics such as total stockholder return, price-to-earnings ratios, dividend payout ratios, return on equity, return on invested capital, debt ratios, and interest coverage. Reconciliations are also provided to calculate ratios before significant items in order to provide adjusted figures.
- Raytheon reported strong second quarter 2007 results with EPS from continuing operations up 30% and sales up 9%.
- They completed the sale of Raytheon Aircraft Company, resulting in $2.4 billion in after-tax proceeds.
- For the full year, Raytheon increased guidance for EPS, bookings, and return on invested capital.
- Segment results were positive with Integrated Defense Systems sales up 12% and operating income up 20% compared to the second quarter of 2006.
- Northern Trust Corporation reported lower net income for the first quarter of 2009 compared to the same period in 2008, with net income declining 64% year-over-year.
- Total revenues decreased 21% due to a 30% decline in noninterest income and a 41% drop in interest income.
- Expenses rose 11% as compensation costs fell 10% but other expenses such as employee benefits, outside services, equipment/software, and the provision for credit losses increased.
- Pre-tax income declined 57% and net income also fell 64% as the provision for income taxes decreased in line with lower pre-tax earnings.
- Northern Trust Corporation reported lower net income for the first quarter of 2009 compared to the same period in 2008, with net income declining 64% to $161.8 million.
- Total revenues decreased 21% to $904.2 million due to lower trust, investment and other servicing fees and noninterest income, partially offset by higher net interest income.
- Expenses increased 11% to $593.5 million, driven by higher provision for credit losses, partially offset by lower compensation and interest expenses.
- Pre-tax income declined 57% to $255.7 million due to lower revenues and higher provision for credit losses.
Progressive reported its results for March 2007. Net income decreased 16% to $131.1 million compared to March 2006. The combined ratio, a measure of profitability, increased 4.9 percentage points to 88.2. Unfavorable development from prior accident years in commercial auto contributed to higher losses. Policies in force grew 3% overall year-over-year, with higher growth in direct auto and special lines.
Progressive reported its results for March 2007. Net income decreased 16% to $131.1 million compared to March 2006. The combined ratio increased 4.9 points to 88.2. For the quarter, net income decreased 17% to $363.5 million and the combined ratio increased 4.3 points to 89.5. Progressive saw unfavorable development from prior accident years, primarily related to larger losses emerging from prior years in commercial auto.
Owens & Minor reported financial results for 3Q 2008 with year-over-year revenue growth but lower earnings per share. Revenue increased 2.4% to $1.81 billion compared to $1.75 billion in 3Q 2007. Gross margin and operating earnings as a percentage of revenue declined slightly. Earnings per share fell from $0.52 to $0.55. For 2008, the company expects organic revenue growth of 5-7% and earnings per share between $2.30-$2.40, despite expected dilution from an acquisition.
This document provides an overview and highlights of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the last 12 months including the Telewest merger and Virgin Mobile acquisition. The fourth quarter saw revenue growth across all segments, strong net additions, and continued ARPU and customer care improvements. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
This document provides an overview of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the past year including the Telewest merger and Virgin Mobile acquisition. The highlights of Q4 2006 include revenue growth across all segments, strong broadband and TV subscriber additions, and increased triple play penetration. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
Virgin Media reported its financial results for the first quarter of 2007. Key highlights include:
1) Strong growth in broadband, TV and mobile contract customers due to compelling offers and marketing campaigns promoting bundled services. However, fixed line customers continued to decline due to increased competition.
2) ARPU was slightly down due to lower fixed line usage, but triple play penetration and Old NTL ARPU increased, pointing to continued ARPU growth.
3) Customer churn improved to 1.6% due to more rigorous credit policies and efficient sales channels, while Sky basics had a minimal impact in Q1.
4) Mobile contract growth remained strong through cable cross-sell, while pre-pay declined season
This document summarizes Virgin Media's performance in the first quarter of 2007. It discusses Virgin Media's progress on key priorities such as brand strength, targeting competitors, cable integration, and cross-sell opportunities. Financial metrics like revenue, customer additions and disconnects, and ARPU are also reviewed. Challenges from increased competition and the impact of Sky's new "Basics" package are addressed.
This document provides a summary of Virgin Media's financial performance in the second quarter of 2007. It discusses declines in revenue due to customer churn related to the loss of Sky basics channels, but notes improving trends in areas like TV and broadband. Key points highlighted include strong growth in video on demand usage, successful bundling of products, expansion of high speed broadband services, and continued strength in the mobile business. The summary also previews upcoming content initiatives and their potential to further drive customer growth and engagement.
This document summarizes Virgin Media's financial performance in the second quarter of 2007. Key points include: losses of Sky basic channels impacted customer churn but TV performance was better than expected; strong mobile contract sales and bundling of products continued; and while ARPU was affected by retention activities, cash flow outlook remains strong. The document provides details on customer additions and disconnects, growth of triple play bundling, and increases in video on demand usage.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It notes significant improvements in customer and revenue growth metrics compared to previous quarters. Revenue was up slightly from the second quarter due to growth in the consumer, business services, content, and mobile segments. Operating cash flow also increased due to lower costs and certain one-time benefits. However, proactive investment in customer growth was also noted as impacting operating cash flow. Net debt remained substantial as of the end of the third quarter.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It discusses improvements in customer and revenue growth metrics compared to previous quarters. Specifically, it notes record quarterly gross additions and reduced churn. It also summarizes growth in the company's broadband, TV, telephony, mobile, and business services segments. The document concludes with discussions of operating cash flow, revenue, and net debt levels.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives. He highlighted opportunities in premium TV, basic pay-TV, free DTV and contract mobile. Berkett also outlined Virgin Media's network advantages in speed and reach, and strategies to increase customer value through volume, ARPU and tenure. Mobile was discussed as an important driver of consumer value through cross-selling. Valuable tax assets were also noted.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives, and building the platform for growth. He highlighted opportunities in premium TV, basic pay-TV, free DTV, broadband, and mobile services. Berkett also covered Virgin Media's network advantages, content assets, tax assets, and the significant potential asset value of the company's network, consumer base, mobile business, and content.
This document provides a summary of Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF increased slightly compared to last quarter. Capex remained high at 13.7% of revenue to support network upgrades including faster broadband speeds. Revenue declined slightly due to seasonal factors in certain business units.
This document summarizes Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF was £324 million for Q1 2008, up slightly from the previous quarter. Cash capex was £125 million for network upgrades and expansion.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the same period last year.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the prior year through lower churn, higher triple-play penetration and a focus on quality customer growth. The company believes its cable network gives it advantages over DSL providers that will increase further after investments are completed.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenues increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network upgrades and expand service offerings.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenue increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network investments.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. Key points include plans to: 1) lead in next generation broadband through upgrades to 10Mbps and beyond; 2) lead the on-demand TV revolution through growing video on demand usage and iPlayer views; and 3) leverage mobile as a third screen through bundling mobile services. Virgin Media also aims to build a more efficient customer focused organization through an operational transformation program targeting over £120m in annual cost savings by 2012.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. It aims to lead in next generation broadband, lead the on-demand TV revolution, and leverage mobile as a third screen. Virgin Media has the best broadband economics due to its high market share and lower costs. It is focusing on upgrading customers to higher broadband tiers, growing on-demand TV and video usage, and integrating mobile offerings. The company expects operational transformation to deliver over £120 million in annual cost savings by 2012.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Introductions of the senior management team who will be presenting.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Biographies and photos of Virgin Media's management team, including the CEO and heads of key business units.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
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Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Applying the Global Internal Audit Standards_AIS.pdf
fifth third bancorp Q2-07
1. News Release
CONTACTS: Jeff Richardson (Analysts) FOR IMMEDIATE RELEASE
(513) 534-0983 July 19, 2007
Jim Eglseder (Analysts)
(513) 534-8424
Debra DeCourcy, APR (Media)
(513) 534-4153
FIFTH THIRD BANCORP REPORTS SECOND QUARTER 2007
EARNINGS OF $0.69 PER DILUTED SHARE
Earnings Highlights
For the Three Months Ended % Change
June March December September June
Seq Yr/Yr
2007 2007 2006 2006 2006
Net income (in millions) $376 $359 $66 $377 $382 5% (2%)
Common Share Data
Earnings per share, basic 0.69 0.65 0.12 0.68 0.69 6% -
Earnings per share, diluted 0.69 0.65 0.12 0.68 0.69 6% -
Cash dividends per common share 0.42 0.42 0.40 0.40 0.40 - 5%
Financial Ratios
Return on average assets 1.49% 1.47% 0.25% 1.41% 1.45% 1% 3%
Return on average equity 15.7 14.6 2.6 15.1 16.0 8% (2%)
Tangible equity 6.92 7.65 7.79 7.40 6.92 (10%) -
Net interest margin (a) 3.37 3.44 3.16 2.99 3.01 (2%) 12%
Efficiency (a) 55.3 57.0 82.9 55.5 55.3 (3%) -
Common shares outstanding (in thousands) 535,697 550,077 556,253 558,066 557,894 (3%) (4%)
Average common shares outstanding
(in thousands):
Basic 540,264 551,501 554,978 555,565 554,978 (2%) (3%)
Diluted 543,228 554,175 557,654 557,949 557,489 (2%) (3%)
(a) Presented on a fully taxable equivalent basis
Fifth Third Bancorp today reported second quarter 2007 earnings of $376 million, or $0.69 per diluted share,
compared with $359 million, or $0.65 per diluted share, in the first quarter of 2007 and $382 million, or $0.69
per diluted share, for the same period in 2006.
Second quarter 2007 results included a $16 million pre-tax gain ($0.02 per share) on the sale of certain non-
strategic credit card accounts, partially offset by $7 million in pre-tax costs ($0.01 per share) associated with
the implementation of expense reduction initiatives, including severance. Second quarter 2006 results
included a pre-tax gain of $24 million from the redemption of a portion of the common shares of MasterCard
Incorporated held by Fifth Third, which was partially offset by $10 million of losses on certain securities sold
during that quarter. These items benefited earnings per share in the second quarter of 2006 by net $0.02 per
share.
2. “Second quarter results were strong across most areas of the Company,” said Kevin T. Kabat, President and
CEO of Fifth Third Bancorp. “Revenue growth of six percent was gratifying in a fairly tough environment. Net
interest income was up despite a continued challenging interest rate environment and share repurchases, and
we saw fee growth of eight percent, generally reflecting across the board increases. Expenses were also well
managed during the quarter. On the other hand, credit is a challenge at this point in the cycle, and we are
actively managing our risks in this kind of environment. We do expect continued deterioration in credit trends
for the near future, but they remain within our expectations. All told, we were pleased with our results, and
remain very focused on executing on our strategic plans and building shareholder value.”
Income Statement Highlights
For the Three Months Ended % Change
June March December September June
Seq Yr/Yr
2007 2007 2006 2006 2006
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent) $745 $742 $744 $719 $716 - 4%
Provision for loan and lease losses 121 84 107 87 71 45% 70%
Total noninterest income 707 648 219 662 655 9% 8%
Total noninterest expense 803 793 798 767 759 1% 6%
528 513 58 527 541 3% (2%)
Income before income taxes (taxable equivalent)
Taxable equivalent adjustment 6 6 6 6 6 - -
Applicable income taxes 146 148 (14) 144 153 (1%) (5%)
Net income available to common
375 359 66 377 382 5% (2%)
shareholders (a)
Earnings per share, diluted $0.69 $0.65 $0.12 $0.68 $0.69 6% -
(a) Dividends on preferred stock are $.185 million for all quarters presented
Net Interest Income
For the Three Months Ended % Change
June March December September June
Seq Yr/Yr
2007 2007 2006 2006 2006
Interest Income ($ in millions)
Total interest income (taxable equivalent) $1,495 $1,466 $1,551 $1,540 $1,483 2% 1%
750 724 807 821 767
Total interest expense 4% (2%)
Net interest income (taxable equivalent) $745 $742 $744 $719 $716 - 4%
Average Yield
Yield on interest-earning assets 6.76% 6.79% 6.58% 6.40% 6.23% - 9%
4.08 4.07 4.17 4.14 3.90
Yield on interest-bearing liabilities - 5%
2.68 2.72 2.41 2.26 2.33
Net interest rate spread (taxable equivalent) (1%) 15%
3.37 3.44 3.16 2.99 3.01
Net interest margin (taxable equivalent) (2%) 12%
Average Balances ($ in millions)
Loans and leases, including held for sale $77,048 $75,861 $75,262 $73,938 $73,093 2% 5%
11,711 11,673 18,262 21,582 22,439
Total securities and other short-term investments - (48%)
73,735 72,148 76,769 78,735 78,870
Total interest-bearing liabilities 2% (7%)
9,599 9,970 10,150 9,878 9,607
Shareholders' equity (4%) -
Net interest income of $745 million on a taxable equivalent basis was up $3 million from the first quarter.
Growth was driven by consumer deposit production and modest reductions in consumer deposit rates, loan
growth, and day count. These contributions were offset by the impact of the first quarter issuance of $750
2
3. million trust preferred securities and share repurchase activity during the first and second quarters. The net
interest margin was 3.37 percent, down 7 bps, with the reduction driven by the effect of debt issuance, share
repurchases and day count, partially offset by deposit growth and pricing.
Compared with the second quarter 2006, net interest income increased $29 million, or four percent, and the
net interest margin expanded 36 bps, primarily the result of the fourth quarter 2006 balance sheet actions.
During the quarter, we repurchased 16.7 million shares at a total cost of $693 million. As of June 30, 2007,
there were 22.1 million shares remaining under our current share repurchase authorization.
Average Loans
For the Three Months Ended % Change
June March December September June
Seq Yr/Yr
2007 2007 2006 2006 2006
Average Loans and Leases ($ in millions)
Commercial:
Commercial loans $21,587 $20,908 $21,228 $20,879 $20,338 3% 6%
Commercial mortgage 11,030 10,566 9,929 9,833 9,980 4% 11%
Commercial construction 5,595 6,014 6,099 5,913 5,840 (7%) (4%)
Commercial leases 3,678 3,661 3,762 3,740 3,729 - (1%)
Subtotal - commercial loans and leases 41,890 41,149 41,018 40,365 39,887 2% 5%
Consumer:
Residential mortgage loans 10,201 10,166 10,038 9,699 9,491 - 7%
Home equity 11,886 12,072 12,225 12,174 11,999 (2%) (1%)
Automobile loans 10,552 10,230 9,834 9,522 9,480 3% 11%
Credit card 1,248 1,021 915 870 797 22% 57%
Other consumer loans and leases 1,271 1,223 1,232 1,308 1,439 4% (12%)
Subtotal - consumer loans and leases 35,158 34,712 34,244 33,573 33,206 1% 6%
Total average loans and leases $77,048 $75,861 $75,262 $73,938 $73,093 2% 5%
Average loan and lease balances grew two percent sequentially and five percent over the second quarter last
year. Average commercial loans and leases grew two percent sequentially and five percent compared with
the year ago quarter. Average C&I loan growth was three percent sequentially, whereas commercial
mortgage and construction loans were flat, with commercial mortgage growth driven by the conversion of
construction loans to permanent financing. Consumer loans and leases grew one percent sequentially and six
percent compared with the year ago quarter, reflecting strong auto loan and credit card growth offset by
anticipated run-off in the consumer lease portfolio totaling $442 million versus second quarter 2006. Excluding
this run-off, consumer loans and leases grew eight percent versus the quarter a year ago.
3
4. Average Deposits
For the Three Months Ended % Change
June March December September June
Seq Yr/Yr
2007 2007 2006 2006 2006
Average Deposits ($ in millions)
Demand deposits $13,370 $13,185 $13,882 $13,642 $13,764 1% (3%)
Interest checking 15,061 15,509 15,744 16,251 17,025 (3%) (12%)
Savings 14,620 13,689 12,812 12,279 12,064 7% 21%
Money market 6,244 6,377 6,572 6,371 6,429 (2%) (3%)
Subtotal - Transaction deposits 49,295 48,760 49,010 48,543 49,282 1% -
Other time 10,780 11,037 10,991 10,794 10,449 (2%) 3%
Subtotal - Core deposits 60,075 59,797 60,001 59,337 59,731 - 1%
Certificates - $100,000 and over 6,511 6,682 6,750 6,415 5,316 (3%) 22%
Foreign office 2,369 1,707 2,758 3,668 4,382 39% (46%)
Total deposits $68,955 $68,186 $69,509 $69,420 $69,429 1% (1%)
Average core deposits were relatively flat sequentially (up two percent annualized) and grew one percent over
second quarter 2006. Strong growth in savings products and modest growth in demand deposits were largely
offset by declines in interest checking and CDs. Retail core deposits remained solid, up two percent or six
percent annualized, driven primarily by growth in savings and demand deposit balances. Commercial core
deposits exhibited modest declines in all categories.
Weighted average rates paid on interest-bearing core deposits remained relatively steady at 3.39 percent
compared with 3.43 percent in the first quarter. This reflected a modest reduction in rates paid across certain
product offerings offset by a continued, but slowing mix shift toward higher rate deposit products, primarily
savings accounts.
Noninterest Income
For the Three Months Ended % Change
June March December September June
Seq Yr/Yr
2007 2007 2006 2006 2006
Noninterest Income ($ in millions)
Electronic payment processing revenue $243 $225 $232 $218 $211 8% 15%
142 126 122 134 135
Service charges on deposits 13% 6%
97 96 90 89 96
Investment advisory revenue 2% 1%
88 83 82 79 82
Corporate banking revenue 6% 8%
41 40 30 36 41
Mortgage banking net revenue 4% -
96 78 58 87 76
Other noninterest income 22% 27%
- - (398) 19 14
Securities gains (losses), net NM (100%)
Securities gains, net - non-qualifying hedges
- - 3 - -
on mortgage servicing rights NM NM
Total noninterest income $707 $648 $219 $662 $655 9% 8%
Noninterest income rose $59 million sequentially, or nine percent, on higher revenues in all fee categories.
Compared with second quarter 2006, noninterest income grew eight percent, with growth across all
categories, but particularly strong in electronic payment processing revenue, deposit service charges and
corporate banking revenue. Second quarter 2007 results included a gain of $16 million on the sale of $89
million in non-strategic credit card accounts. Second quarter 2006 results included a $24 million gain from the
redemption of a portion of the common shares of MasterCard Incorporated held by Fifth Third, partially offset
by $10 million of losses on certain securities sold in the same quarter. Excluding the above-mentioned items,
sequential noninterest income growth was seven percent and year-over-year growth was eight percent.
4
5. Electronic payment processing revenue of $243 million increased eight percent sequentially and fifteen
percent over last year on strong growth in merchant processing, card issuer interchange, and financial
institutions revenue. We expect large national contracts signed with the U.S. Treasury and, more recently,
Walgreens, to continue to support merchant revenue growth going forward. Card issuer interchange was
driven by higher card usage and an increase in credit card accounts stemming from success in our initiative to
increase our customer penetration. Higher card usage volumes drove the financial institutions revenue
growth.
Service charges on deposits of $142 million increased thirteen percent sequentially and six percent versus
the same quarter last year. Retail service charges increased twenty-three percent from seasonally weak first
quarter numbers, driven by more normal levels of customer activity. Retail deposit revenue grew eleven
percent compared with the year ago quarter. Commercial service charges increased by two percent
sequentially, and declined one percent compared with last year reflecting the effect of higher earnings credit
rates.
Investment advisory revenue of $97 million was up two percent sequentially and one percent over second
quarter last year. Private Bank revenue declined modestly due to the earlier completion and filing of seasonal
tax returns in the first quarter of 2007, affecting sequential and year-over-year comparisons. Brokerage fee
revenue grew eleven percent sequentially and six percent year-over-year largely, reflecting additions of
quality brokers and higher broker productivity.
Corporate banking revenue of $88 million increased six percent sequentially led by strong growth in customer
interest rate derivatives income, syndications and asset backed securities fees, and foreign exchange and
letter of credit fees. Compared with last year, revenue increased eight percent as a result of solid growth in
interest rate derivatives income, institutional sales, and syndication fees.
Mortgage banking net revenue totaled $41 million, compared with $40 million last quarter and $41 million in
the prior year quarter. Mortgage originations of $3.3 billion improved from $2.9 billion in first quarter 2007 and
$2.6 billion in second quarter 2006. Gain-on-sale margins narrowed modestly, resulting in second quarter
origination fees and gains on loan sales of $25 million, compared with $26 million in the first quarter and $27
million in second quarter 2006. Net servicing revenue, before MSR valuation adjustments, totaled $13 million
in the second quarter, compared with $14 million in the first quarter and $14 million a year ago. The MSR
valuation and related mark-to-market adjustments on free-standing derivatives netted to a positive $3 million
adjustment in the second quarter compared with less than $1 million in the first and year ago quarters. The
mortgage-servicing asset, net of the valuation reserve, was $602 million at quarter end on a servicing portfolio
of $31.5 billion.
Other noninterest income totaled $96 million in the second quarter, compared with $78 million last quarter and
$76 million in the same quarter last year. The increase resulted primarily from the $16 million gain on sale of
$89 million in certain non-strategic credit card accounts.
5
6. Noninterest Expense
For the Three Months Ended % Change
June March December September June
Seq Yr/Yr
2007 2007 2006 2006 2006
Noninterest Expense ($ in millions)
Salaries, wages and incentives $309 $292 $300 $288 $303 6% 2%
Employee benefits 68 87 61 74 69 (23%) (2%)
Payment processing expense 97 92 89 84 80 5% 21%
Net occupancy expense 68 65 65 63 59 4% 14%
Technology and communications 41 40 39 36 34 4% 22%
Equipment expense 31 29 30 32 28 5% 10%
Other noninterest expense 189 188 214 190 186 1% 2%
Total noninterest expense $803 $793 $798 $767 $759 1% 6%
Noninterest expense of $803 million increased one percent from first quarter 2007 and increased six percent
from second quarter 2006. Second quarter expenses included $7 million in one-time costs associated with
expense reduction initiatives, primarily related to severance. Expenses were otherwise flat sequentially and
up five percent versus a year ago. Salaries, wages and incentives were up six percent sequentially, reflecting
severance of $5 million, relatively flat salary and wages and higher revenue based incentives. Seasonally
higher FICA and unemployment expenses in the first quarter primarily drove the sequential decline in
employee benefit expense. Compared with the second quarter of 2006, compensation expense trends
reflected a relatively stable employee base. Payment processing expense growth of 21 percent was driven by
similar growth in transaction volumes. Year-over-year expense growth in other categories largely reflected
higher de novo related expenses and technology investments.
Credit Quality
For the Three Months Ended
June March December September June
2007 2007 2006 2006 2006
Total net losses charged off ($ in millions)
Commercial loans ($24) ($15) ($29) ($25) ($22)
Commercial mortgage loans (16) (7) (11) (7) (4)
Commercial construction loans (7) (6) (3) (1) (3)
Commercial leases - (1) - 1 (1)
Residential mortgage loans (9) (7) (8) (5) (6)
Home equity (20) (17) (14) (14) (13)
Automobile loans (15) (16) (19) (15) (10)
Credit card (10) (8) (10) (8) (7)
Other consumer loans and leases (1) 6 (3) (5) (1)
Total net losses charged off (102) (71) (97) (79) (67)
Total losses (124) (99) (118) (96) (96)
Total recoveries 22 28 21 17 29
Total net losses charged off ($102) ($71) ($97) ($79) ($67)
Ratios
Net losses charged off as a percent of
average loans and leases 0.55% 0.39% 0.52% 0.43% 0.37%
Commercial 0.44% 0.27% 0.42% 0.32% 0.30%
Consumer 0.68% 0.53% 0.64% 0.57% 0.46%
Net charge-offs as a percentage of average loans and leases were 55 bps in the second quarter, in line with
expectations, compared with 39 bps last quarter and 37 bps in the second quarter of 2006. Gross charge-offs
and recoveries were 66 bps and 11 bps, respectively, of loans and leases, compared with 54 bps and 15 bps
6
7. in the first quarter of 2007. Commercial net charge-off growth of $18 million was driven by higher losses on
commercial mortgages and a $6 million loss related to the liquidation of a commercial borrower. Consumer
net charge-off growth of $13 million reflected first quarter recoveries on the proceeds of $10 million in
charged-off consumer loans and higher losses on consumer real estate. Second quarter net charge-offs
included $3 million in losses related to the sale of $27 million in nonperforming commercial loans. First quarter
net charge-offs included $5 million in losses related to the sale of $39 million in nonperforming commercial
loans, as well as the $10 million in recoveries on the charge-off sale of charged-off consumer loans. The
commercial and consumer net charge-off ratios were 44 bps and 68 bps, respectively, up from 27 bps and 53
bps in the first quarter.
For the Three Months Ended
June March December September June
2007 2007 2006 2006 2006
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning $784 $771 $761 $753 $749
Total net losses charged off (102) (71) (97) (79) (67)
Provision for loan and lease losses 121 84 107 87 71
Allowance for loan and lease losses, ending 803 784 771 761 753
Reserve for unfunded commitments, beginning 79 76 76 74 69
Provision for unfunded commitments (2) 3 - 2 5
Reserve for unfunded commitments, ending 77 79 76 76 74
Components of allowance for credit losses:
Allowance for loan and lease losses 803 784 771 761 753
Reserve for unfunded commitments 77 79 76 76 74
Total allowance for credit losses $880 $863 $847 $837 $827
Ratios
Allowance for loan and lease losses as a percent of
loans and leases 1.06% 1.05% 1.04% 1.04% 1.04%
Provision for loan and lease losses totaled $121 million in the second quarter compared with $84 million last
quarter and $71 million in the same quarter last year. The allowance for loan and lease losses represented
1.06 percent of total loans and leases outstanding as of quarter end, compared with 1.05 percent last quarter
and 1.04 percent in the same quarter last year.
For the Three Months Ended
June March December September June
2007 2007 2006 2006 2006
Nonperforming Assets and Delinquent
Loans ($ in millions)
Nonaccrual loans and leases $406 $390 $352 $320 $281
Other assets, including other real estate owned 122 104 103 91 77
Total nonperforming assets 528 494 455 411 358
Ninety days past due loans and leases 302 243 210 196 191
Nonperforming assets as a percent of loans, leases and
other assets, including other real estate owned 0.70% 0.66% 0.61% 0.56% 0.49%
Nonperforming assets (NPAs) at quarter end were $528 million, or 70 bps of total loans and leases and other
real estate owned, up from 66 bps last quarter and 49 bps in the first quarter a year ago. Sequential growth in
NPAs was $34 million, or 7 percent. Consumer NPA growth of $22 million was driven by higher foreclosed
real estate and higher repossessed autos reflecting an acceleration in our auto repossession policy late last
year. Commercial NPA growth of $12 million was driven by growth in commercial mortgage and construction
7
8. NPAs, particularly in Eastern Michigan. We sold $27 million in commercial NPAs, in the quarter compared
with $39 million in commercial NPAs sold in the first quarter. Delinquent loans were $302 million, up $59
million from the first quarter, with approximately two thirds of the growth in commercial. Commercial
delinquency growth was concentrated in real estate lending, particularly in Michigan and South Florida.
Consumer growth was driven by residential delinquencies in South Florida, Northeastern Ohio, and Eastern
Michigan.
Capital Position
For the Three Months Ended
June March December September June
2007 (a) 2007 2006 2006 2006
Capital Position
Average shareholders' equity to average assets 9.53% 10.05% 9.70% 9.33% 9.09%
Tangible equity 6.92% 7.65% 7.79% 7.40% 6.92%
Regulatory capital ratios:
Tier I capital 8.08% 8.71% 8.39% 8.64% 8.56%
Total risk-based capital 10.49% 11.19% 11.07% 10.61% 10.50%
Tier I leverage 8.80% 9.36% 8.44% 8.52% 8.38%
(a) Current period regulatory capital data and ratios are estimated
Capital levels were lower during the quarter although they remained very strong. The tangible equity and
regulatory capital ratios declined sequentially due to 16.7 million share repurchases at a total cost of $693
million. The tangible equity ratio was flat compared with the prior year second quarter primarily due to lower
tangible assets as a result of the fourth quarter 2006 balance sheet actions.
On May 21, 2007, Fifth Third Bancorp and R&G Financial Corporation (“RGF”) signed a definitive agreement
under which Fifth Third will acquire RGF‘s Florida-based subsidiary, R–G Crown Bank, which operates 30
branches in Florida and three in Augusta, Georgia. The transaction is expected to close in the fourth quarter
of 2007. This transaction is expected to reduce capital ratios by approximately 40 bps.
Outlook
The following outlook represents currently expected full year growth rates compared with full year 2006
results. The outlook does not include the effect of our pending acquisition of R-G Crown Bank. Our outlook is
based on current expectations as of the date of this release for results within our businesses; prevailing views
related to economic growth, inflation, unemployment and other economic factors; and market forward interest
rate expectations. These expectations are inherently subject to risks and uncertainties. There are a number of
factors that could cause results to differ materially from historical performance and these expectations. We
undertake no obligation to update these expectations after the date of this release. Please refer to the
cautionary statement at the end of this release for more information.
8
9. Category Growth, percentage, or bps range
Net interest income Mid_single digits
Net interest margin 3.35-3.40%
Noninterest income* High single digits
Noninterest expense** Mid single digits
Loans Mid_single digits
Core deposits Low-to-mid single digits
Net charge-offs Low 50 bps range
Effective tax rate [non-tax equivalent] 28.5-29.0%
Tangible equity/tangible asset ratio 2007 target 6.5% [including R-G Crown]
Change from April 19, 2007 outlook
*comparison with the prior year excludes $415 million of losses recorded in noninterest income related to fourth quarter
2006 balance sheet actions
**comparison with the prior year excludes $49 million of charges: $10 million in third quarter 2006 related to the early
retirement of debt, and $39 million in fourth quarter 2006 related to termination of financing agreements
Conference Call
Fifth Third will host a conference call to discuss these financial results at 8:30 a.m. (Eastern Time) today. The
audio webcast is available through the Fifth Third Investor Relations website at www.53.com (click on “About
Fifth Third” then “Investor Relations”). Participants are advised to access the conference call at least 15
minutes prior to the scheduled start time. The dial-in number is 877-309-0967 for domestic access and 706-
679-3977 for international access (password: Fifth Third).
If you are unable to listen to the live call you may access a webcast replay or podcast through the Fifth Third
Investor Relations website at www.53.com. Additionally, a replay of the conference call will be available until
Friday, August 3rd by dialing 800-642-1687 for domestic access and 706-645-9291 for international access
(passcode 1346753#).
Corporate Profile
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The
Company has $101 billion in assets, operates 18 affiliates with 1,167 full-service Banking Centers, including
106 Bank Mart® locations open seven days a week inside select grocery stores and 2,132 ATMs in Ohio,
Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania and Missouri. Fifth
Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment
Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the
Midwest and, as of June 30, 2007, has $232 billion in assets under care, of which it managed $34 billion for
individuals, corporations and not-for-profit organizations. Investor information and press releases can be
viewed at www.53.com. Fifth Third’s common stock is traded through the NASDAQ® National Global Select
Market System under the symbol “FITB.”
9
10. FORWARD-LOOKING STATEMENTS
This report may contain forward-looking statements about Fifth Third Bancorp and/or the company as combined acquired entities
within the meaning of Sections 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and 21E
of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, that involve inherent risks and
uncertainties. This report may contain certain forward-looking statements with respect to the financial condition, results of
operations, plans, objectives, future performance and business of Fifth Third Bancorp and/or the combined company including
statements preceded by, followed by or that include the words or phrases such as “believes,” “expects,” “anticipates,” “plans,”
“trend,” “objective,” “continue,” “remain” or similar expressions or future or conditional verbs such as “will,” “would,” “should,”
“could,” “might,” “can,” “may” or similar expressions. There are a number of important factors that could cause future results to
differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference
include, but are not limited to: (1) general economic conditions, either national or in the states in which Fifth Third, one or more
acquired entities and/or the combined company do business, are less favorable than expected; (2) political developments, wars
or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (3) changes in the interest
rate environment reduce interest margins; (4) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss
provisions; (5) our ability to maintain required capital levels and adequate sources of funding and liquidity; (6) changes and
trends in capital markets; (7) competitive pressures among depository institutions increase significantly; (8) effects of critical
accounting policies and judgments; (9) changes in accounting policies or procedures as may be required by the Financial
Accounting Standards Board or other regulatory agencies; (10) legislative or regulatory changes or actions, or significant
litigation, adversely affect Fifth Third, one or more acquired entities and/or the combined company or the businesses in which
Fifth Third, one or more acquired entities and/or the combined company are engaged; (11) ability to maintain favorable ratings
from rating agencies; (12) fluctuation of Fifth Third’s stock price; (13) ability to attract and retain key personnel; (14) ability to
receive dividends from its subsidiaries; (15) potentially dilutive effect of future acquisitions on current shareholders' ownership of
Fifth Third; (16) effects of accounting or financial results of one or more acquired entity; (17) difficulties in combining the
operations of acquired entities; (18) ability to secure confidential information through the use of computer systems and
telecommunications network; and (19) the impact of reputational risk created by these developments on such matters as
business generation and retention, funding and liquidity. Additional information concerning factors that could cause actual results
to differ materially from those expressed or implied in the forward-looking statements is available in the Bancorp's Annual Report
on Form 10-K for the year ended December 31, 2006, filed with the United States Securities and Exchange Commission
(SEC).Copies of this filing are available at no cost on the SEC's Web site at www.sec.gov or on the Fifth Third’s Web site at
www.53.com. Fifth Third undertakes no obligation to release revisions to these forward-looking statements or reflect events or
circumstances after the date of this report.
###
10
11. Quarterly Financial Review for June 30, 2007
Table of Contents
Financial Highlights 12-13
Consolidated Statements of Income 14
Consolidated Statements of Income (Taxable Equivalent) 15
Consolidated Balance Sheets 16-17
Consolidated Statements of Changes in Shareholders’ Equity 18
Average Balance Sheet and Yield Analysis 19-21
Summary of Loans and Leases 22
Regulatory Capital 23
Asset Quality 24
11
12. Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data
(unaudited)
For the Three Months Ended % Change Year to Date % Change
June March June June June
2007 2007 2006 Seq Yr/Yr 2007 2006 Yr/Yr
Income Statement Data
Net interest income (a) $745 $742 $716 - 4% $1,487 $1,434 4%
Noninterest income 707 648 655 9% 8% 1,355 1,272 7%
Total revenue (a) 1,452 1,390 1,371 4% 6% 2,842 2,706 5%
Provision for loan and lease losses 121 84 71 45% 70% 205 149 38%
Noninterest expense 803 793 759 1% 6% 1,595 1,490 7%
Net income 376 359 382 5% (2%) 735 746 (2%)
Common Share Data
Earnings per share, basic $0.69 $0.65 $0.69 6% - $1.35 $1.34 1%
Earnings per share, diluted 0.69 0.65 0.69 6% - 1.34 1.34 -
Cash dividends per common share $0.42 $0.42 $0.40 - 5% $0.84 $0.78 8%
Book value per share 17.16 17.82 17.13 (4%) - 17.16 17.13 -
Dividend payout ratio 59.7% 64.5% 58.3% (7%) 2% 62.0% 58.2% 7%
Market price per share:
High $43.32 $41.41 $41.02 5% 6% $43.32 $41.43 5%
Low 37.88 37.93 35.86 - 6% 37.88 35.86 6%
End of period 39.77 38.69 36.95 3% 8% 39.77 36.95 8%
Common shares outstanding (in thousands) 535,697 550,077 557,894 (3%) (4%) 535,697 557,894 (4%)
Average common shares outstanding (in thousands):
Basic 540,264 551,501 554,978 (2%) (3%) 545,851 554,689 (2%)
Diluted 543,228 554,175 557,489 (2%) (3%) 548,671 557,181 (2%)
Market capitalization $21,305 $21,282 $20,614 - 3% $21,305 $20,614 3%
Price/earnings ratio (b) 18.58 18.08 13.94 3% 33% 18.58 13.94 33%
Financial Ratios
Return on average assets 1.49% 1.47% 1.45% 1% 3% 1.48% 1.43% 3%
Return on average equity 15.7% 14.6% 16.0% 8% (2%) 15.1% 15.7% (4%)
Noninterest income as a percent of total revenue 49% 47% 48% 4% 2% 48% 47% 2%
Average equity as a percent of average assets 9.53% 10.05% 9.09% (5%) 5% 9.78% 9.13% 7%
Tangible equity 6.92% 7.65% 6.92% (10%) - 6.92% 6.92% -
Net interest margin (a) 3.37% 3.44% 3.01% (2%) 12% 3.40% 3.04% 12%
Efficiency (a) 55.3% 57.0% 55.3% (3%) - 56.1% 55.0% 2%
Effective tax rate 28.1% 29.3% 28.5% (4%) (1%) 28.7% 29.6% (3%)
Credit Quality
Net losses charged off $102 $71 $67 44% 52% $173 $140 24%
Net losses charged off as a percent of
average loans and leases 0.55% 0.39% 0.37% 41% 49% 0.47% 0.40% 18%
Allowance for loan and lease losses as a
percent of loans and leases 1.06% 1.05% 1.04% 1% 2% 1.06% 1.04% 2%
Allowance for credit losses as a percent
of loans and leases 1.16% 1.15% 1.14% 1% 2% 1.16% 1.14% 2%
Nonperforming assets as a percent of loans, leases
and other assets, including other real estate owned 0.70% 0.66% 0.49% 6% 43% 0.70% 0.49% 43%
Average Balances
Loans and leases, including held for sale $77,048 $75,861 $73,093 2% 5% $76,458 $72,367 6%
Total securities and other short-term investments 11,711 11,673 22,439 - (48%) 11,692 22,677 (48%)
Total assets 100,767 99,192 105,741 2% (5%) 99,984 105,241 (5%)
Transaction deposits (d) 49,295 48,760 49,282 1% - 49,029 49,116 -
Core deposits (e) 60,075 59,797 59,731 - 1% 59,937 59,217 1%
Wholesale funding (f) 27,030 25,536 32,903 6% (18%) 26,287 33,013 (20%)
Shareholders' equity 9,599 9,970 9,607 (4%) - 9,783 9,604 2%
Regulatory Capital Ratios (c)
Tier I capital 8.08% 8.71% 8.56% (7%) (6%) 8.08% 8.56% (6%)
Total risk-based capital 10.49% 11.19% 10.50% (6%) - 10.49% 10.50% -
Tier I leverage 8.80% 9.36% 8.38% (6%) 5% 8.80% 8.38% 5%
Operations
Banking centers 1,167 1,161 1,138 1% 3% 1,167 1,138 3%
ATMs 2,132 2,104 2,034 1% 5% 2,132 2,034 5%
Full-time equivalent employees 21,033 21,442 21,230 (2%) (1%) 21,033 21,230 (1%)
(a) Presented on a fully taxable equivalent basis
(b) Based on the most recent twelve-month diluted earnings per share and end of period stock prices
(c) Current period regulatory capital ratios are estimates
(d) Includes demand, interest checking, savings and money market deposits
(e) Includes transaction deposits plus other time deposits
(f) Includes certificates $100,000 and over, foreign office deposits, federal funds purchased, short-term borrowings and long-term debt
12
13. Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data
(unaudited)
For the Three Months Ended
June March December September June
2007 2007 2006 2006 2006
Income Statement Data
Net interest income (a) $745 $742 $744 $719 $716
Noninterest income 707 648 219 662 655
Total revenue (a) 1,452 1,390 963 1,381 1,371
Provision for loan and lease losses 121 84 107 87 71
Noninterest expense 803 793 798 767 759
Net income 376 359 66 377 382
Common Share Data
Earnings per share, basic $0.69 $0.65 $0.12 $0.68 $0.69
Earnings per share, diluted 0.69 0.65 0.12 0.68 0.69
Cash dividends per common share $0.42 $0.42 $0.40 $0.40 $0.40
Book value per share 17.16 17.82 18.02 17.96 17.13
Dividend payout ratio 59.7% 64.5% 338.0% 59.2% 58.3%
Market price per share:
High $43.32 $41.41 $41.57 $40.18 $41.02
Low 37.88 37.93 37.75 35.95 35.86
End of period 39.77 38.69 40.93 38.08 36.95
Common shares outstanding (in thousands) 535,697 550,077 556,253 558,066 557,894
Average common shares outstanding (in thousands):
Basic 540,264 551,501 554,978 555,565 554,978
Diluted 543,228 554,175 557,654 557,949 557,489
Market capitalization $21,305 $21,282 $22,767 $21,251 $20,614
Price/earnings ratio (b) 18.58 18.08 19.13 14.53 13.94
Financial Ratios
Return on average assets 1.49% 1.47% 0.25% 1.41% 1.45%
Return on average equity 15.7% 14.6% 2.6% 15.1% 16.0%
Noninterest income as a percent of total revenue 49% 47% 23% 48% 48%
Average equity as a percent of average assets 9.53% 10.05% 9.70% 9.33% 9.09%
Tangible equity 6.92% 7.65% 7.79% 7.40% 6.92%
Net interest margin (a) 3.37% 3.44% 3.16% 2.99% 3.01%
Efficiency (a) 55.3% 57.0% 82.9% 55.5% 55.3%
Effective tax rate 28.1% 29.3% (27.0%) 27.6% 28.5%
Credit Quality
Net losses charged off $102 $71 $97 $79 $67
Net losses charged off as a percent of
average loans and leases 0.55% 0.39% 0.52% 0.43% 0.37%
Allowance for loan and lease losses as a
percent of loans and leases 1.06% 1.05% 1.04% 1.04% 1.04%
Allowance for credit losses as a percent
of loans and leases 1.16% 1.15% 1.14% 1.14% 1.14%
Nonperforming assets as a percent of loans, leases
and other assets, including other real estate owned 0.70% 0.66% 0.61% 0.56% 0.49%
Average Balances
Loans and leases, including held for sale $77,048 $75,861 $75,262 $73,938 $73,093
Total securities and other short-term investments 11,711 11,673 18,262 21,582 22,439
Total assets 100,767 99,192 104,602 105,868 105,741
Transaction deposits (d) 49,295 48,760 49,010 48,543 49,282
Core deposits (e) 60,075 59,797 60,001 59,337 59,731
Wholesale funding (f) 27,030 25,536 30,650 33,040 32,903
Shareholders' equity 9,599 9,970 10,150 9,878 9,607
Regulatory Capital Ratios (c)
Tier I capital 8.08% 8.71% 8.39% 8.64% 8.56%
Total risk-based capital 10.49% 11.19% 11.07% 10.61% 10.50%
Tier I leverage 8.80% 9.36% 8.44% 8.52% 8.38%
Operations
Banking centers 1,167 1,161 1,150 1,145 1,138
ATMs 2,132 2,104 2,096 2,114 2,034
Full-time equivalent employees 21,033 21,442 21,362 21,301 21,230
(a) Presented on a fully taxable equivalent basis
(b) Based on the most recent twelve-month diluted earnings per share and end of period stock prices
(c) Current period regulatory capital ratios are estimates
(d) Includes demand, interest checking, savings and money market deposits
(e) Includes transaction deposits plus other time deposits
(f) Includes certificates $100,000 and over, foreign office deposits, federal funds purchased, short-term borrowings and long-term debt
13
14. Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions
(unaudited)
For the Three Months Ended % Change Year to Date % Change
June March June June June
2007 2007 2006 Seq Yr/Yr 2007 2006 Yr/Yr
Interest Income
Interest and fees on loans and leases $1,343 $1,314 $1,227 2% 9% $2,657 $2,375 12%
Interest on securities 143 143 247 - (42%) 286 497 (42%)
Interest on other short-term investments 3 3 3 (17%) 4% 6 4 30%
Total interest income 1,489 1,460 1,477 2% 1% 2,949 2,876 3%
Interest Expense
Interest on deposits 505 498 471 1% 7% 1,003 882 14%
Interest on short-term borrowings 72 59 100 23% (28%) 131 196 (33%)
Interest on long-term debt 173 167 196 3% (12%) 340 377 (10%)
Total interest expense 750 724 767 4% (2%) 1,474 1,455 1%
739 736 710 - 4% 1,475 1,421 4%
Net Interest Income
Provision for loan and lease losses 121 84 71 45% 70% 205 149 38%
Net interest income after
618 652 639 (5%) (3%) 1,270 1,272 -
provision for loan and lease losses
Noninterest Income
Electronic payment processing revenue 243 225 211 8% 15% 468 407 15%
Service charges on deposits 142 126 135 13% 6% 268 261 3%
Investment advisory revenue 97 96 96 2% 1% 193 187 3%
Corporate banking revenue 88 83 82 6% 8% 171 157 9%
Mortgage banking net revenue 41 40 41 4% - 81 88 (8%)
Other noninterest income 96 78 76 22% 27% 174 157 11%
Securities gains (losses), net - - 14 NM (100%) - 15 (100%)
Securities gains, net - non-qualifying hedges
on mortgage servicing rights - - - NM NM - - NM
Total noninterest income 707 648 655 9% 8% 1,355 1,272 7%
Noninterest Expense
Salaries, wages and incentives 309 292 303 6% 2% 601 586 3%
Employee benefits 68 87 69 (23%) (2%) 155 156 (1%)
Payment processing expense 97 92 80 5% 21% 189 151 25%
Net occupancy expense 68 65 59 4% 14% 133 118 13%
Technology and communications 41 40 34 4% 22% 81 66 22%
Equipment expense 31 29 28 5% 10% 60 54 12%
Other noninterest expense 189 188 186 1% 2% 376 359 5%
Total noninterest expense 803 793 759 1% 6% 1,595 1,490 7%
Income before income taxes
522 507 535 3% (2%) 1,030 1,054 (2%)
and cumulative effect
Applicable income taxes 146 148 153 (1%) (5%) 295 312 (5%)
376 359 382 5% (2%) 735 742 (1%)
Income before cumulative effect
Cumulative effect of change in
accounting principle, net of tax (a) - - - NM NM - 4 (100%)
$376 $359 $382 5% (2%) $735 $746 (2%)
Net income
$375 $359 $382 5% (2%) $734 $745 (2%)
Net income available to common shareholders (b)
(a) Reflects a benefit of $3.5 million (net of $1.7 million of tax) for the adoption of SFAS No. 123(R) as of January 1, 2006
due to the recognition of an estimate of forfeiture experience to be realized for all stock-based awards
(b) Dividends on preferred stock are $.185 million for all quarters presented
14
15. Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income (Taxable Equivalent)
$ in millions
(unaudited)
For the Three Months Ended
June March December September June
2007 2007 2006 2006 2006
Interest Income
Interest and fees on loans and leases $1,343 $1,314 $1,332 $1,294 $1,227
Interest on securities 143 143 199 238 247
Interest on other short-term investments 3 3 14 2 3
Total interest income 1,489 1,460 1,545 1,534 1,477
Taxable equivalent adjustment 6 6 6 6 6
Total interest income (taxable equivalent) 1,495 1,466 1,551 1,540 1,483
Interest Expense
Interest on deposits 505 498 518 510 471
Interest on short-term borrowings 72 59 100 106 100
Interest on long-term debt 173 167 189 205 196
Total interest expense 750 724 807 821 767
745 742 744 719 716
Net interest income (taxable equivalent)
Provision for loan and lease losses 121 84 107 87 71
Net interest income (taxable equivalent) after
624 658 637 632 645
provision for loan and lease losses
Noninterest Income
Electronic payment processing revenue 243 225 232 218 211
Service charges on deposits 142 126 122 134 135
Investment advisory revenue 97 96 90 89 96
Corporate banking revenue 88 83 82 79 82
Mortgage banking net revenue 41 40 30 36 41
Other noninterest income 96 78 58 87 76
Securities gains (losses), net - - (398) 19 14
Securities gains, net - non-qualifying hedges
on mortgage servicing rights - - 3 - -
Total noninterest income 707 648 219 662 655
Noninterest Expense
Salaries, wages and incentives 309 292 300 288 303
Employee benefits 68 87 61 74 69
Payment processing expense 97 92 89 84 80
Net occupancy expense 68 65 65 63 59
Technology and communications 41 40 39 36 34
Equipment expense 31 29 30 32 28
Other noninterest expense 189 188 214 190 186
Total noninterest expense 803 793 798 767 759
Income before income taxes and
528 513 58 527 541
cumulative effect (taxable equivalent)
Taxable equivalent adjustment 6 6 6 6 6
Income before income taxes
522 507 52 521 535
and cumulative effect
Applicable income taxes 146 148 (14) 144 153
376 359 66 377 382
Income before cumulative effect
Cumulative effect of change in
accounting principle, net of tax - - - - -
$376 $359 $66 $377 $382
Net income
$375 $359 $66 $377 $382
Net income available to common shareholders (a)
(a) Dividends on preferred stock are $.185 million for all quarters presented
15
16. Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data
(unaudited)
As of % Change
June March June
2007 2007 2006 Seq Yr/Yr
Assets
Cash and due from banks $2,327 $2,244 $2,670 4% (13%)
Available-for-sale and other securities (a) 11,015 10,592 20,345 4% (46%)
Held-to-maturity securities (b) 346 347 358 - (3%)
Trading securities 148 160 173 (7%) (14%)
Other short-term investments 404 223 207 82% 95%
Loans held for sale 1,708 1,382 931 24% 83%
Portfolio loans and leases:
Commercial loans 22,152 21,479 20,717 3% 7%
Commercial mortgage loans 11,044 10,906 9,792 1% 13%
Commercial construction loans 5,469 5,688 5,950 (4%) (8%)
Commercial leases 3,697 3,687 3,740 - (1%)
Residential mortgage loans 8,477 8,484 8,623 - (2%)
Home equity 11,780 11,926 12,087 (1%) (3%)
Automobile loans 10,714 10,400 9,512 3% 13%
Credit card 1,263 1,111 846 14% 49%
Other consumer loans and leases 1,113 1,140 1,310 (2%) (15%)
Portfolio loans and leases 75,709 74,821 72,577 1% 4%
Allowance for loan and lease losses (803) (784) (753) 2% 7%
Portfolio loans and leases, net 74,906 74,037 71,824 1% 4%
Bank premises and equipment 2,063 2,001 1,853 3% 11%
Operating lease equipment 209 212 150 (1%) 40%
Goodwill 2,192 2,192 2,194 - -
Intangible assets 147 158 185 (7%) (20%)
Servicing rights 607 572 489 6% 24%
Other assets 5,318 5,704 4,732 (7%) 12%
$101,390 $99,824 $106,111 2% (4%)
Total assets
Liabilities
Deposits:
Demand $13,524 $13,510 $14,078 - (4%)
Interest checking 14,672 15,755 16,788 (7%) (13%)
Savings 15,036 14,256 12,061 5% 25%
Money market 6,334 6,336 6,505 - (3%)
Other time 10,428 10,869 10,627 (4%) (2%)
Certificates - $100,000 and over 6,204 6,776 5,691 (8%) 9%
Foreign office 2,995 1,686 4,773 78% (37%)
Total deposits 69,193 69,188 70,523 - (2%)
Federal funds purchased 3,824 1,622 2,493 136% 53%
Other short-term borrowings 3,331 2,383 5,275 40% (37%)
Accrued taxes, interest and expenses 2,114 2,324 1,995 (9%) 6%
Other liabilities 1,780 1,883 1,767 (5%) 1%
Long-term debt 11,957 12,620 14,502 (5%) (18%)
92,199 90,020 96,555 2% (5%)
Total liabilities
9,191 9,804 9,556 (6%) (4%)
Total shareholders' equity (c)
$101,390 $99,824 $106,111 2% (4%)
Total liabilities and shareholders' equity
(a) Amortized cost $11,370 $10,754 $21,376 6% (47%)
(b) Market values 346 347 358 - (3%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized 1,300,000 1,300,000 1,300,000 - -
Outstanding, excluding treasury 535,697 550,077 557,894 (3%) (4%)
Treasury 47,730 33,350 25,533 43% 87%
16
17. Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data
(unaudited)
As of
June March December September June
2007 2007 2006 2006 2006
Assets
Cash and due from banks $2,327 $2,244 $2,737 $2,399 $2,670
Available-for-sale and other securities (a) 11,015 10,592 11,053 19,514 20,345
Held-to-maturity securities (b) 346 347 356 359 358
Trading securities 148 160 187 164 173
Other short-term investments 404 223 809 125 207
Loans held for sale 1,708 1,382 1,150 872 931
Portfolio loans and leases:
Commercial loans 22,152 21,479 20,831 21,260 20,717
Commercial mortgage loans 11,044 10,906 10,405 9,879 9,792
Commercial construction loans 5,469 5,688 6,168 5,879 5,950
Commercial leases 3,697 3,687 3,841 3,751 3,740
Residential mortgage loans 8,477 8,484 8,830 8,811 8,623
Home equity 11,780 11,926 12,153 12,235 12,087
Automobile loans 10,714 10,400 10,028 9,599 9,512
Credit card 1,263 1,111 1,004 876 846
Other consumer loans and leases 1,113 1,140 1,093 1,190 1,310
Portfolio loans and leases 75,709 74,821 74,353 73,480 72,577
Allowance for loan and lease losses (803) (784) (771) (761) (753)
Portfolio loans and leases, net 74,906 74,037 73,582 72,719 71,824
Bank premises and equipment 2,063 2,001 1,940 1,902 1,853
Operating lease equipment 209 212 202 142 150
Goodwill 2,192 2,192 2,193 2,193 2,194
Intangible assets 147 158 166 175 185
Servicing rights 607 572 524 504 489
Other assets 5,318 5,704 5,770 4,760 4,732
$101,390 $99,824 $100,669 $105,828 $106,111
Total assets
Liabilities
Deposits:
Demand $13,524 $13,510 $14,331 $13,883 $14,078
Interest checking 14,672 15,755 15,993 15,855 16,788
Savings 15,036 14,256 13,181 12,392 12,061
Money market 6,334 6,336 6,584 6,462 6,505
Other time 10,428 10,869 10,987 10,818 10,627
Certificates - $100,000 and over 6,204 6,776 6,628 6,871 5,691
Foreign office 2,995 1,686 1,676 2,362 4,773
Total deposits 69,193 69,188 69,380 68,643 70,523
Federal funds purchased 3,824 1,622 1,421 5,434 2,493
Other short-term borrowings 3,331 2,383 2,796 3,833 5,275
Accrued taxes, interest and expenses 2,114 2,324 2,283 2,156 1,995
Other liabilities 1,780 1,883 2,209 1,570 1,767
Long-term debt 11,957 12,620 12,558 14,170 14,502
92,199 90,020 90,647 95,806 96,555
Total liabilities
9,191 9,804 10,022 10,022 9,556
Total shareholders' equity (c)
$101,390 $99,824 $100,669 $105,828 $106,111
Total liabilities and shareholders' equity
(a) Amortized cost $11,370 $10,754 $11,236 $20,103 $21,376
(b) Market values 346 347 356 359 358
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized 1,300,000 1,300,000 1,300,000 1,300,000 1,300,000
Outstanding, excluding treasury 535,697 550,077 556,253 558,066 557,894
Treasury 47,730 33,350 27,174 25,361 25,533
17
18. Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Shareholders' Equity
$ in millions
(unaudited)
For the Three Months Ended Year to Date
June June June June
2007 2006 2007 2006
$9,804 $9,469 $10,022 $9,446
Total shareholders' equity, beginning
Net income 376 382 735 746
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities (125) (117) (111) (275)
Qualifying cash flow hedges (7) 2 (7) 5
Change in accumulated other comprehensive income
related to employee benefit plans 2 - 3 -
Comprehensive income 246 267 620 476
Cash dividends declared:
Common stock (225) (223) (456) (434)
Preferred stock (a) - - - -
Stock-based awards exercised, including treasury shares issued 27 9 45 24
Stock-based compensation expense 18 30 35 44
Loans repaid (issued) related to exercise of stock-based awards, net - 2 2 5
Change in corporate tax benefit related to stock-based compensation 8 1 3 -
Shares acquired for treasury (693) - (973) -
Impact of cumulative effect of change in accounting principle (b) - - (98) (6)
Other 6 1 (9) 1
$9,191 $9,556 $9,191 $9,556
Total shareholders' equity, ending
(a) Dividends on preferred stock are $.185 million for all quarters presented
(b) 2007 includes $96 million impact due to the adoption of FSP FAS 13-2, quot;Accounting for a Change or Projected Change in the Timing of Cash
Flows Relating to Income Taxes Generated by a Leverage Lease Transactionquot; on January 1, 2007 and $2 million impact due to the adoption of
FIN No. 48, quot;Accounting for Uncertainty in Income Taxes - An Interpretation of FASB Statement No. 109quot; on January 1, 2007. 2006 impact is
due to the adoption of SFAS No. 123(R) quot;Share-Based Paymentquot; on January 1, 2006.
18
19. Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield Analysis
$ in millions, except share data
(unaudited)
For the Three Months Ended % Change
June March June
2007 2007 2006 Seq Yr/Yr
Assets
Interest-earning assets:
Commercial loans $21,587 $20,908 $20,338 3% 6%
Commercial mortgage loans 11,030 10,566 9,980 4% 11%
Commercial construction loans 5,595 6,014 5,840 (7%) (4%)
Commercial leases 3,678 3,661 3,729 - (1%)
Residential mortgage loans 10,201 10,166 9,491 - 7%
Home equity 11,886 12,072 11,999 (2%) (1%)
Automobile loans 10,552 10,230 9,480 3% 11%
Credit card 1,248 1,021 797 22% 57%
Other consumer loans and leases 1,271 1,223 1,439 4% (12%)
Taxable securities 11,030 10,951 21,642 1% (49%)
Tax exempt securities 508 534 616 (5%) (17%)
Other short-term investments 173 188 181 (8%) (4%)
Total interest-earning assets 88,759 87,534 95,532 1% (7%)
Cash and due from banks 2,265 2,287 2,564 (1%) (12%)
Other assets 10,524 10,140 8,393 4% 25%
Allowance for loan and lease losses (781) (769) (748) 2% 4%
$100,767 $99,192 $105,741 2% (5%)
Total assets
Liabilities
Interest-bearing liabilities:
Interest checking $15,061 $15,509 $17,025 (3%) (12%)
Savings 14,620 13,689 12,064 7% 21%
Money market 6,244 6,377 6,429 (2%) (3%)
Other time 10,780 11,037 10,449 (2%) 3%
Certificates - $100,000 and over 6,511 6,682 5,316 (3%) 22%
Foreign office 2,369 1,707 4,382 39% (46%)
Federal funds purchased 3,540 2,505 3,886 41% (9%)
Other short-term borrowings 2,372 2,400 4,854 (1%) (51%)
Long-term debt 12,238 12,242 14,465 - (15%)
Total interest-bearing liabilities 73,735 72,148 78,870 2% (7%)
Demand deposits 13,370 13,185 13,764 1% (3%)
Other liabilities 4,063 3,889 3,500 4% 16%
91,168 89,222 96,134 2% (5%)
Total liabilities
9,599 9,970 9,607 (4%) -
Shareholders' equity
$100,767 $99,192 $105,741 2% (5%)
Total liabilities and shareholders' equity
JUN 07 MAR 07 JUN 06
Yield Analysis
Interest-earning assets:
Commercial loans 7.45% 7.50% 7.16%
Commercial mortgage loans 7.30% 7.31% 7.08%
Commercial construction loans 7.69% 7.74% 7.67%
Commercial leases 4.32% 4.34% 5.03%
Residential mortgage loans 6.12% 6.17% 5.91%
Home equity 7.66% 7.69% 7.36%
Automobile loans 6.26% 6.18% 5.62%
Credit card 10.62% 12.17% 11.73%
Other consumer loans and leases 5.41% 5.03% 4.77%
Taxable securities 4.98% 5.06% 4.43%
Tax exempt securities 7.38% 7.40% 7.33%
Other short-term investments 6.08% 6.82% 5.60%
Total interest-earning assets 6.76% 6.79% 6.23%
Interest-bearing liabilities:
Interest checking 2.21% 2.31% 2.39%
Savings 3.23% 3.27% 2.90%
Money market 4.44% 4.46% 4.01%
Other time 4.63% 4.59% 4.00%
Certificates - $100,000 and over 5.12% 5.17% 4.64%
Foreign office 4.67% 4.53% 4.77%
Federal funds purchased 5.31% 5.30% 4.97%
Other short-term borrowings 4.31% 4.37% 4.31%
Long-term debt 5.65% 5.54% 5.45%
Total interest-bearing liabilities 4.08% 4.07% 3.90%
Ratios:
Net interest margin (taxable equivalent) 3.37% 3.44% 3.01%
Net interest rate spread (taxable equivalent) 2.68% 2.72% 2.33%
Interest-bearing liabilities to interest-earning assets 83.07% 82.42% 82.56%
19