Fifth Third Bancorp (FITB) 8-K Fifth Third Bancorp Reports Third Quarter Results

Exhibit 99.1

		News Release
CONTACTS:	Jim Eglseder (Investors)	FOR IMMEDIATE RELEASE
	(513) 534-8424	October 22, 2009
	Rich Rosen (Investors)
	(513) 534-3307
	Debra DeCourcy, APR (Media)
	(513) 534-6957

FIFTH THIRD BANCORP REPORTS THIRD QUARTER RESULTS

• Net loss of $97 million; $0.20 loss per diluted share

• Net interest margin of 3.43%, up 17 bps from the previous quarter; net interest income increased 5% sequentially

• Average core deposits up 11%, wholesale funding down 30% from a year ago

• Sold Visa stake for a $288 million pre-tax benefit, increasing capital ratios by approximately 17 bps; also released additional $29 million of Visa litigation reserves

• Tangible common equity ratio of 6.74%, Tier 1 common ratio of 7.03%, Tier 1 ratio of 13.23%, total capital ratio of 17.48%

• Allowance to loan ratio increased to 4.69%, allowance to nonperforming loans ratio of 125%, allowance 1.2 times annualized net charge-offs

• Extended over $17 billion of new and renewed credit in the third quarter

Earnings Highlights

	For the Three Months Ended															% Change
	September 2009			June 2009			March 2009			December 2008			September 2008			Seq		Yr/Yr
Earnings ($ in millions)
Net income (loss)	($	97	)	$	882		$	50		($	2,142	)	($	56	)	NM		(74	%)
Net income (loss) available to common shareholders	($	159	)	$	856		($	26	)	($	2,184	)	($	81	)	NM		(97	%)
Common Share Data
Earnings per share, basic		(0.20	)		1.35			(0.04	)		(3.78	)		(0.14	)	NM		(43	%)
Earnings per share, diluted		(0.20	)		1.15			(0.04	)		(3.78	)		(0.14	)	NM		(43	%)
Cash dividends per common share		0.01			0.01			0.01			0.01			0.15		—		(93	%)
Financial Ratios
Return on average assets		(.34	%)		3.05	%		0.17	%		(7.16	%)		(.19	%)	NM		(79	%)
Return on average common equity		(6.1	)		41.2			(1.4	)		(94.6	)		(3.3	)	NM		(85	%)
Tier I capital		13.23			12.90			10.93			10.59			8.57		3	%	54	%
Tier I common equity		7.03			6.94			4.50			4.37			5.18		3	%	42	%
Net interest margin (a)		3.43			3.26			3.06			3.46			4.24		5	%	(19	%)
Efficiency (a)		50.8			29.9			65.1			131.3			54.2		70	%	(6	%)
Common shares outstanding (in thousands)		795,316			795,313			576,936			577,387			577,487		—		38	%
Average common shares outstanding (in thousands):
Basic		790,334			629,789			571,810			571,809			571,705		25	%	38	%
Diluted		790,334			718,245			571,810			571,809			571,705		10	%	38	%

(a) Presented on a fully taxable equivalent basis

NM: not meaningful

Fifth Third Bancorp (Nasdaq: FITB) today reported a third quarter 2009 net loss of $97 million, compared with net income of $882 million in the second quarter of 2009 and a net loss of $56 million in the third quarter of 2008. After preferred dividends, the third quarter 2009 net loss available to common shareholders was $159 million, compared with net income of $856 million in the second quarter of 2009 and a net loss of $81 million in the third quarter of 2008. In the third quarter, the net loss was $0.20 per diluted share, compared with net earnings of $1.15 per diluted share in the second quarter and a net loss of $0.14 per diluted share in the third quarter of 2008.

Third quarter 2009 results included a pre-tax net benefit of $288 million from the sale of our Visa, Inc. Class B common shares. This benefit consisted of a pre-tax gain of $244 million on the sale of the Class B shares and the recognition of a derivative that transfers the conversion risk of the Class B shares back to the Bancorp, and a $44 million net reduction in noninterest expense related to the reversal of an existing litigation reserve. Third quarter results also included the release of additional Visa litigation reserves due to Visa’s supplemental funding of its litigation escrow account, which reduced noninterest expense by $29 million. In total, these items benefitted earnings by $317 million pre-tax, or $0.26 per diluted share after-tax.

Second quarter 2009 results included a pre-tax gain of $1,764 million related to the processing business transaction with Advent International, and a pre-tax charge of $55 million related to the special FDIC deposit insurance fund assessment. Second quarter 2009 net income available to common shareholders also included a $35 million benefit, recorded as a reduction to preferred dividend expense, reflecting the excess of the carrying value of preferred shares over the fair value of the common shares and cash exchanged through our tender offer for Series G preferred stock. Third quarter 2008 reported results included net charges of $83 million pre-tax: a $51 million charge due to the impairment of preferred stock held in Fannie Mae and Freddie Mac, a non-cash charge of $45 million related to Visa’s settlement with Discover, a non-cash charge of $27 million to lower the cash surrender value of one of our Bank-Owned Life Insurance (BOLI) policies, and a net benefit of $40 million related to the satisfactory resolution of a court case stemming from goodwill created in a prior acquisition.

“Results for the third quarter continue to reflect solid core results offset by high credit costs,” said Kevin T. Kabat, Chairman, CEO and President of Fifth Third Bancorp. “Highlights include significant improvement in the net interest margin, up 17 basis points from the second quarter, which drove a 5 percent sequential increase in net interest income. Transaction deposits were up 3 percent from last quarter and the mix continues to shift from higher cost CDs to lower cost savings accounts. As a result, we further reduced wholesale funding by $5 billion in the third quarter. Excluding the effect of the processing business sale and Visa transaction, fee growth was solid driven by continued robust mortgage banking revenue which mitigated the effect of unusually high credit related charges in other noninterest income. We remain focused on careful management of expenses, despite growth in credit-related operating expenses which were at unusually elevated levels this quarter.

2

The credit environment remains challenging, and we continue to aggressively work to manage risk in the portfolio. Net charge-offs were $756 million, an increase of $130 million from the second quarter, driven largely by losses on shared national credits (SNC). Excluding SNC related losses, commercial loan losses were up $80 million sequentially, driven by higher real estate and construction losses. Consumer losses declined by $28 million, or 10 percent, reflecting some stabilization in trends. We expect net charge-offs to be lower in the fourth quarter due to a reduction in C&I losses. Nonperforming assets in the loan portfolio increased 13 percent, in line with our expectations, and we expect a generally similar mid-teens rate of growth in the fourth quarter.

The provision for loan losses exceeded net charge-offs by $196 million, increasing the reserve to loan ratio to 4.69 percent. Our reserve position relative to loans, nonperforming loans, and levels of charge-offs remains very strong relative to problem assets and current levels of losses. It remains our expectation that reserve building will lessen from the pace seen earlier in the cycle as we move forward. We continue to believe that our pre-provision earnings power and our strong capital and reserve levels position us well for the remainder of this cycle.”

Income Statement Highlights

	For the Three Months Ended														% Change
	September 2009			June 2009		March 2009			December 2008			September 2008			Seq		Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	874		$	836	$	781		$	897		$	1,068		5	%	(18	%)
Provision for loan and lease losses		952			1,041		773			2,356			941		(9	%)	1	%
Total noninterest income		851			2,583		697			642			717		(67	%)	19	%
Total noninterest expense		876			1,021		962			2,022			967		(14	%)	(9	%)
Income (loss) before income taxes (taxable equivalent)		(103	)		1,357		(257	)		(2,839	)		(123	)	NM		(16	%)
Taxable equivalent adjustment		5			5		5			5			5		—		—
Applicable income taxes		(11	)		470		(312	)		(702	)		(72	)	NM		(85	%)
Net income (loss)		(97	)		882		50			(2,142	)		(56	)	NM		(74	%)
Dividends on preferred stock		62			26		76			42			25		138	%	148	%
Net income (loss) available to common shareholders		(159	)		856		(26	)		(2,184	)		(81	)	NM		(97	%)
Earnings per share, diluted	($	0.20	)	$	1.15	($	0.04	)	($	3.78	)	($	0.14	)	NM		(43	%)

NM: not meaningful

3

Net Interest Income

	For the Three Months Ended															% Change
	September 2009			June 2009			March 2009			December 2008			September 2008			Seq		Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	1,174		$	1,184		$	1,183		$	1,411		$	1,553		(1	%)	(24	%)
Total interest expense		300			348			402			514			485		(14	%)	(38	%)
Net interest income (taxable equivalent)	$	874		$	836		$	781		$	897		$	1,068		5	%	(18	%)
Average Yield
Yield on interest-earning assets		4.61	%		4.62	%		4.63	%		5.44	%		6.16	%	—		(25	%)
Yield on interest-bearing liabilities		1.51	%		1.67	%		1.89	%		2.28	%		2.25	%	(10	%)	(33	%)
Net interest rate spread (taxable equivalent)		3.10	%		2.95	%		2.74	%		3.16	%		3.91	%	5	%	(21	%)
Net interest margin (taxable equivalent)		3.43	%		3.26	%		3.06	%		3.46	%		4.24	%	5	%	(19	%)
Average Balances ($ in millions)
Loans and leases, including held for sale	$	82,888		$	84,996		$	85,829		$	87,426		$	85,772		(2	%)	(3	%)
Total securities and other short-term investments		18,065			17,762			17,835			15,683			14,515		2	%	24	%
Total interest-bearing liabilities		78,759			83,407			86,218			89,440			85,990		(6	%)	(8	%)
Shareholders’ equity		13,885			12,490			12,084			10,291			10,843		11	%	28	%

Net interest income of $874 million on a taxable equivalent basis increased $38 million, or 5 percent, from the second quarter of 2009. The net interest margin was 3.43 percent, up 17 bps from 3.26 percent from the previous quarter. The sequential increase in net interest income and net interest margin was driven by improved spreads on loan originations and continued deposit mix shift to lower cost core deposits as higher priced term deposits issued in the third and fourth quarters of 2008 matured. These effects were partially offset by lower loan balances and an increase in non-accrual loan balances.

Compared with the third quarter of 2008, net interest income decreased $194 million and the net interest margin decreased 81 bps from 4.24 percent. Third quarter 2008 results included $215 million in loan discount accretion related to the First Charter acquisition compared with $27 million this quarter. Excluding this impact in both periods, net interest income declined by 1 percent and net interest margin declined by 5 bps.

Average Loans

	For the Three Months Ended										% Change
	September 2009		June 2009		March 2009		December 2008		September 2008		Seq		Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial loans	$	27,400	$	28,027	$	28,949	$	30,227	$	28,284	(2	%)	(3	%)
Commercial mortgage		12,269		12,463		12,508		13,189		13,257	(2	%)	(7	%)
Commercial construction		4,337		4,672		4,987		5,990		6,110	(7	%)	(29	%)
Commercial leases		3,522		3,512		3,564		3,610		3,641	—		(3	%)
Subtotal - commercial loans and leases		47,528		48,674		50,008		53,016		51,292	(2	%)	(7	%)
Consumer:
Residential mortgage loans		8,355		8,713		9,195		9,335		9,681	(4	%)	(14	%)
Home equity		12,452		12,636		12,763		12,677		12,534	(1	%)	(1	%)
Automobile loans		8,871		8,692		8,687		8,428		8,303	2	%	7	%
Credit card		1,955		1,863		1,825		1,748		1,720	5	%	14	%
Other consumer loans and leases		899		995		1,083		1,165		1,165	(10	%)	(23	%)
Subtotal - consumer loans and leases		32,532		32,899		33,553		33,353		33,403	(1	%)	(3	%)
Total average loans and leases (excluding held for sale)	$	80,060	$	81,573	$	83,561	$	86,369	$	84,695	(2	%)	(5	%)
Average loans held for sale		2,828		3,422		2,268		1,057		1,077	(17	%)	163	%

4

Average portfolio loan and lease balances decreased 2 percent sequentially and declined 5 percent from the third quarter of 2008. Including loans held-for-sale, average loans declined by 2 percent sequentially and 3 percent from the same period the previous year. The decline was due to lower demand for consumer and commercial loans and leases as well as higher net charge-offs.

Average commercial loan and lease balances decreased 2 percent sequentially and declined 7 percent from the third quarter of the previous year. The sequential and year-over-year decline in average commercial loan and lease balances was primarily driven by lower customer line utilization, which was down $1.5 billion from the previous quarter and $2.9 billion from the same quarter the previous year. During the third quarter of 2009, commercial and industrial (C&I) average loans decreased by 2 percent due to lower customer line usage. Average commercial mortgage and commercial construction loan balances declined by a combined 3 percent sequentially and 14 percent from the same period the previous year, reflecting the suspension of residential homebuilder/developer and non-owner occupied lending more than a year ago.

Average consumer loan and lease balances decreased 1 percent sequentially and declined 3 percent from the third quarter of 2008. Both sequential and year-over-year comparisons reflect lower home equity and residential mortgage loan balances, which more than offset growth in credit card and auto balances. Excluding loans charged-off, period-end consumer loans increased by 1 percent from the previous year.

The majority of Fifth Third’s mortgages are originated to be sold to agencies and are not reflected in portfolio loans or portfolio loan growth. Warehoused residential mortgages held-for-sale remain at relatively high levels of $2.5 billion due to continued high mortgage origination volumes.

Average Deposits

	For the Three Months Ended										% Change
	September 2009		June 2009		March 2009		December 2008		September 2008		Seq		Yr/Yr
Average Deposits ($ in millions)
Demand deposits	$	17,059	$	16,689	$	15,532	$	14,602	$	14,225	2	%	20	%
Interest checking		14,869		14,837		14,229		13,698		13,843	—		7	%
Savings		16,967		16,705		16,272		15,960		16,154	2	%	5	%
Money market		4,280		4,167		4,559		4,983		6,051	3	%	(29	%)
Foreign office (a)		2,432		1,717		1,755		1,876		2,126	42	%	14	%
Subtotal - Transaction deposits		55,607		54,115		52,347		51,119		52,399	3	%	6	%
Other time		14,264		14,612		14,501		13,337		10,780	(2	%)	32	%
Subtotal - Core deposits		69,871		68,727		66,848		64,456		63,179	2	%	11	%
Certificates - $100,000 and over		10,055		11,455		11,802		12,468		11,623	(12	%)	(13	%)
Other		95		240		247		1,090		395	(60	%)	(76	%)
Total deposits	$	80,021	$	80,422	$	78,897	$	78,014	$	75,197	—		6	%

(a) Includes commercial customer Eurodollar sweep balances for which the Bancorp pays rates comparable to other commercial deposit accounts.

Average core deposits increased 2 percent sequentially and 11 percent from the third quarter of 2008. On a sequential basis, growth in average demand deposit (DDA), savings, money market, and foreign office commercial sweep deposits was partially offset by lower consumer CD balances. Higher priced, short-term consumer CDs originated in the second half of 2008 continue to be replaced by lower cost savings deposits

5

and DDA deposits. Average transaction deposits (excluding consumer time deposits) were up 3 percent from second quarter of 2009 and increased 6 percent from a year ago.

Retail average core deposits were flat sequentially and increased 10 percent from the third quarter of 2008. Sequential growth in savings and foreign office sweep deposits was offset by small declines in DDAs, interest checking, and consumer CD balances. On a year-over-year basis, growth in DDA, savings, consumer CD, and foreign office sweep deposits was partially offset by lower interest checking and money market balances. Net new account production offset lower average account balances. Commercial core deposits increased 8 percent sequentially and 12 percent from the previous year. Sequential growth in DDA, interest checking, and money market account balances drove the increase. Deposit growth was driven primarily by higher average account balances.

Noninterest Income

	For the Three Months Ended														% Change
	September 2009			June 2009		March 2009			December 2008			September 2008			Seq		Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	164		$	162	$	146		$	162		$	172		1	%	(4	%)
Corporate banking revenue		86			99		116			121			104		(13	%)	(18	%)
Mortgage banking net revenue		140			147		134			(29	)		45		(5	%)	208	%
Investment advisory revenue		74			73		76			78			90		1	%	(18	%)
Card and processing revenue		74			243		223			230			235		(70	%)	(69	%)
Gain on sale of FTPS joint venture		(6	)		1,764		—			—			—		NM		NM
Other noninterest income		311			49		10			24			112		538	%	177	%
Securities gains (losses), net		8			5		(24	)		(40	)		(63	)	60	%	NM
Securities gains, net - non-qualifying hedges on mortgage servicing rights		—			41		16			96			22		(100	%)	(100	%)
Total noninterest income	$	851		$	2,583	$	697		$	642		$	717		(67	%)	19	%

Noninterest income of $851 million decreased $1.7 billion sequentially and increased $134 million from a year ago. Third quarter 2009 results included a $244 million gain from the sale of our Visa, Inc. Class B common shares. Second quarter 2009 results included the $1.8 billion gain from the completion of the sale of the processing business, while third quarter 2008 results included a $76 million gain related to a litigation settlement stemming from a prior acquisition and a $27 million charge to lower the cash surrender value of a BOLI policy. The sale of the processing business included the merchant processing and financial institutions businesses. Revenue from these businesses accounted for $169 million in the second quarter of 2009 and $162 million in the same period the previous year. Excluding the divested processing revenue and the items outlined above, as well as investment securities gains/losses in all periods, noninterest income declined by $46 million, or 7 percent, from the previous quarter and increased by $30 million, or 5 percent, from the third quarter of 2008. The sequential decline on this basis was driven by a combined $34 million increase in losses on the sale of other real estate owned (OREO) and fair value adjustments on loans held-for-sale and the effect of $41 million of hedge gains on MSRs in the second quarter of 2009. Year-over-year growth on this basis was driven primarily by continued strong mortgage banking revenue partially offset by the increase in OREO losses and fair value adjustments just mentioned. Comparisons versus both periods also benefited from $38 million in revenue associated with the transition service agreement (TSA) entered into as part of the

6

processing business sale, under which the Bancorp provides services to the processing business to support its operations during the deconversion period.

Service charges on deposits of $164 million increased 1 percent sequentially and declined 4 percent compared with the same quarter last year. Retail service charges increased 1 percent from the previous quarter and declined 9 percent compared with the third quarter of 2008. The sequential increase was driven by net new account production while the year-over-year decline was due to lower transaction volume. Commercial service charges increased 2 percent both sequentially and compared with last year. Year-over-year growth primarily reflected an increase in customer accounts and lower market interest rates, as reduced earnings credit rates paid on customer balances have resulted in higher realized net service fees to pay for treasury management services.

Corporate banking revenue of $86 million decreased 13 percent from the previous quarter and 18 percent from the same period the previous year. Sequential results were driven primarily by lower interest rate derivative sales revenue and a reduction in business lending fees largely as a result of reduced loan originations, partially offset by growth in institutional sales. On a year-over-year basis, lower interest rate derivative sales revenue and foreign exchange revenue was partially offset by growth in institutional sales and business lending fees.

Mortgage banking net revenue was $140 million in the third quarter of 2009, a decrease of $7 million from record second quarter 2009 results and an increase of $95 million from the third quarter of 2008. Third quarter 2009 originations were $4.4 billion, down from a record $6.9 billion the previous quarter, and up from $2.0 billion in the third quarter of 2008. Third quarter 2009 originations resulted in gains of $96 million on mortgages sold compared with gains of $161 million during the previous quarter and $43 million during the same period in 2008. Net servicing revenue, before mortgage servicing rights (MSR) valuation adjustments, totaled $21 million in the third quarter, compared with $2 million last quarter and $17 million a year ago. MSR valuation adjustments, including mark-to-market related adjustments on free-standing derivatives used to economically hedge the MSR portfolio, represented a net gain of $23 million in the third quarter of 2009, compared with a net loss of $16 million last quarter and a net loss of $15 million a year ago. The mortgage-servicing asset, net of the valuation reserve, was $625 million at quarter end on a servicing portfolio of $46.8 billion.

Investment advisory revenue of $74 million was up 1 percent sequentially and down 18 percent from the third quarter of 2008. Institutional trust revenue was up 6 percent from the previous quarter and down 17 percent from the previous year while private client revenue increased 4 percent sequentially and declined 14 percent from the third quarter of 2008. Both sequential and year-over-year comparisons for institutional trust revenue and private client revenue were driven by overall changes in market values. Mutual fund fees were down 2 percent from the previous quarter and 30 percent from the previous year generally due to continued outflows from long-term equity funds to money market funds. Brokerage fees were down 6 percent from the second quarter of 2009 and declined 18 percent from the same period the previous year, reflecting lower transaction based revenues.

7

Card and processing revenue was $74 million in the third quarter, consisting primarily of interchange from the Bank’s credit and debit cards and ATM revenue. Results from previous quarters included merchant processing revenue and financial institutions revenue, which are now part of the processing business joint venture. These items contributed $169 million and $162 million to card and processing revenue in the second quarter of 2009 and the third quarter of 2008, respectively. Excluding merchant processing and financial institutions revenue, card and processing revenue was consistent with levels from both the previous quarter and the same period the previous year. Strong growth in debit card transaction volumes and an increase in average dollar amount per transaction were offset by lower credit card usage.

Other noninterest income totaled $311 million in the third quarter of 2009 versus $49 million in the previous quarter and $112 million in the third quarter of 2008. Third quarter 2009 results included the $244 million gain from the Visa transaction. Second quarter 2009 results included a $15 million write-down on a facility we are vacating, while third quarter 2008 results included a $76 million gain related to a litigation settlement stemming from a prior acquisition and a $27 million charge to lower the cash surrender value of a BOLI policy. Excluding these items, other noninterest income of $67 million increased by $3 million compared with the previous quarter and increased by $4 million from the same period the previous year. The sequential and year-over-year growth reflected third quarter revenue of $38 million related to the processing business TSA and income of $7 million from our ownership interest in the processing business joint venture, partially offset by losses on the sale of OREO and fair value adjustments on loans held-for-sale. Losses on the sale of OREO totaled $22 million in the third quarter compared with $13 million in the previous quarter and $12 million in the third quarter of 2008. Fair value adjustments on loans held-for-sale totaled $30 million in the third quarter of 2009 compared with $6 million in the previous quarter. There were no fair value adjustments in the third quarter of 2008. Net gains on loan sales were $8 million in the third quarter versus net gains of $11 million in the second quarter of 2009 and net losses of $1 million in the same quarter the previous year.

There were no net securities gains on non-qualifying hedges on MSRs in the third quarter of 2009 compared with net gains of $41 million in the previous quarter and gains of $22 million in the third quarter of 2008.

Net gains on investment securities were $8 million in the third quarter of 2009, compared with securities gains of $5 million in the previous quarter and net losses of $63 million in the same period the previous year.

8

Noninterest Expense

	For the Three Months Ended										% Change
	September 2009		June 2009		March 2009		December 2008		September 2008		Seq		Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	335	$	346	$	327	$	337	$	321	(3	%)	4	%
Employee benefits	$	83	$	75	$	83	$	61	$	72	11	%	16	%
Net occupancy expense	$	75	$	79	$	79	$	77	$	77	(5	%)	(3	%)
Technology and communications	$	43	$	45	$	45	$	48	$	46	(4	%)	(7	%)
Equipment expense	$	30	$	31	$	31	$	35	$	34	(4	%)	(12	%)
Card and processing expense	$	25	$	75	$	67	$	70	$	70	(66	%)	(64	%)
Other noninterest expense	$	285	$	370	$	330	$	1,394	$	346	(23	%)	(18	%)
Total noninterest expense	$	876	$	1,021	$	962	$	2,022	$	967	(14	%)	(9	%)

Noninterest expense of $876 million decreased $145 million sequentially and decreased $91 million from a year ago. Third quarter 2009 results included the Visa litigation reserve reversal of $73 million and $10 million of seasonal pension settlement expense. Second quarter 2009 results included a $55 million FDIC special assessment charge. Excluding the effect of the items previously mentioned, third quarter 2009 noninterest expense of $939 million declined by $27 million, or 3 percent, from the previous quarter, driven by the reduction in core expenses due to the processing joint venture as well as broad based expense control, partially offset by higher provision expense for unfunded commitments. Third quarter 2008 results included a $45 million charge due to Visa’s pending settlement with Discover, $36 million related to legal expenses associated with the litigation settlement from a prior acquisition, and $7 million in seasonal pension settlement expense. Excluding the items noted above for the third quarter in both periods, expenses increased by $60 million, or 7 percent, driven by higher credit-related costs partially offset by a reduction in core expenses due to the processing business sale.

During the third quarter we incurred approximately $38 million in operating expenses related to the processing business joint venture that were offset with revenue under the TSA that was reported in other noninterest income.

Expenses incurred in the management of problem assets totaled $100 million in the third quarter of 2009, compared with $46 million in the previous quarter and $45 million in the third quarter of 2008. The largest driver of the sequential increase was the provision expense for unfunded commitments, which was $45 million in the third quarter of 2009 compared with $8 million the previous quarter and $17 million in the third quarter of 2008. Derivative valuation adjustments related to customer risk were $21 million this quarter versus $2 million last quarter. There were none a year ago. Other work-out related expenses were $28 million in the third quarter, compared with $32 million the previous quarter and $25 million in the same period last year. OREO expense was $6 million this quarter, compared with $4 million last quarter and $3 million a year ago.

9

Credit Quality

	For the Three Months Ended
	September 2009			June 2009			March 2009			December 2008			September 2008
Total net losses charged off ($ in millions)
Commercial loans	($	256	)	($	177	)	($	103	)	($	422	)	($	85	)
Commercial mortgage loans		(118	)		(85	)		(77	)		(465	)		(94	)
Commercial construction loans		(126	)		(79	)		(76	)		(539	)		(88	)
Commercial leases		—			(1	)		—			—			—
Residential mortgage loans		(92	)		(112	)		(75	)		(68	)		(77	)
Home equity		(80	)		(88	)		(72	)		(54	)		(55	)
Automobile loans		(34	)		(36	)		(46	)		(43	)		(32	)
Credit card		(45	)		(45	)		(36	)		(30	)		(24	)
Other consumer loans and leases		(5	)		(3	)		(5	)		(6	)		(8	)
Total net losses charged off		(756	)		(626	)		(490	)		(1,627	)		(463	)
Total losses		(796	)		(658	)		(521	)		(1,652	)		(481	)
Total recoveries		40			32			31			25			18
Total net losses charged off	($	756	)	($	626	)	($	490	)	($	1,627	)	($	463	)
Ratios (annualized)
Net losses charged off as a percent of average loans and leases (excluding held for sale)		3.75	%		3.08	%		2.38	%		7.50	%		2.17	%
Commercial		4.17	%		2.81	%		2.08	%		10.70	%		2.07	%
Consumer		3.13	%		3.48	%		2.82	%		2.40	%		2.33	%

Net charge-offs were $756 million in the third quarter of 2009, or 375 bps of average loans on an annualized basis. Second quarter net charge-offs were $626 million, or 308 bps of average loans on an annualized basis. Approximately 60 percent of the total increase in total net-charge offs was due to losses on Shared National Credits (“SNC”). Loss experience overall continues to be driven by commercial and residential real estate loans in Michigan and Florida. In aggregate, Florida and Michigan represented approximately 45 percent of total losses during the quarter and 28 percent of total loans and leases.

Commercial net charge-offs were $500 million, or 417 bps, in the third quarter of 2009, an increase of $158 million from the second quarter of 2009. Losses on SNC were $95 million in the third quarter of 2009, an increase of $78 million from the previous quarter. Within the commercial portfolio, C&I losses were $256 million, an increase of $79 million from the previous quarter. C&I losses included losses on SNC loans of $60 million, an increase of $43 million from the previous quarter, and losses on loans to companies in real estate-related industries of $40 million, an increase of $2 million from the previous quarter. Commercial mortgage net losses totaled $118 million, an increase of $33 million from the previous quarter, and included $1 million of SNC net charge-offs. Michigan and Florida accounted for 55 percent of commercial mortgage losses. Commercial construction net losses were $126 million, an increase of $47 from the previous quarter, of which SNC net losses accounted for $34 million of the increase. Michigan and Florida accounted for 50 percent of total commercial construction losses. Across all commercial portfolios, net losses on residential builder and developer portfolio loans totaled $108 million, compared with $76 million in the second quarter. These homebuilder losses included $57 million on commercial construction loans, $42 million on commercial mortgage loans, and $9 million on C&I loans. Originations of homebuilder/developer loans were suspended in 2007 and the remaining portfolio balance totals $1.8 billion.

10

Consumer net charge-offs of $256 million, or 313 bps, declined $28 million from the second quarter of 2009. Michigan and Florida represented 43 percent of second quarter home equity losses and 29 percent of total home equity loans. Net charge-offs within the residential mortgage portfolio were $92 million, a decrease of $20 million from the previous quarter, with losses in Michigan and Florida representing 77 percent of losses in the third quarter and approximately 43 percent of total residential mortgage loans. Home equity net charge-offs of $80 million decreased $8 million sequentially. Net losses on brokered home equity loans were $30 million, down $9 million sequentially, and represented 38 percent of second quarter home equity losses. Brokered home equity loans represented $2 billion, or 16 percent, of the total home equity portfolio with originations being discontinued in 2007. Net charge-offs in the auto portfolio decreased by $2 million from the second quarter of 2009 to $34 million reflecting improved values on used cars sold at auction. Net losses on consumer credit card loans were $45 million, consistent with the previous quarter, as higher unemployment and weakened economic conditions continue to impact the credit card portfolio.

	For the Three Months Ended
	September 2009			June 2009			March 2009			December 2008			September 2008
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	3,485		$	3,070		$	2,787		$	2,058		$	1,580
Total net losses charged off		(756	)		(626	)		(490	)		(1,627	)		(463	)
Provision for loan and lease losses		952			1,041			773			2,356			941
Allowance for loan and lease losses, ending		3,681			3,485			3,070			2,787			2,058
Reserve for unfunded commitments, beginning		239			231			195			132			115
Provision for unfunded commitments		45			8			36			63			17
Reserve for unfunded commitments, ending		284			239			231			195			132
Components of allowance for credit losses:
Allowance for loan and lease losses		3,681			3,485			3,070			2,787			2,058
Reserve for unfunded commitments		284			239			231			195			132
Total allowance for credit losses	$	3,965		$	3,724		$	3,301		$	2,982		$	2,190
Allowance for loan and lease losses ratio
As a percent of loans and leases		4.69	%		4.28	%		3.72	%		3.31	%		2.41	%
As a percent of nonperforming loans and leases (a) (b)		125	%		135	%		128	%		157	%		92	%
As a percent of nonperforming assets (a) (b)		114	%		123	%		116	%		139	%		84	%

(a) Excludes non accrual loans and leases in loans held for sale

(b) During 1Q09 the Bancorp modified its nonaccrual policy to exclude TDR loans less than 90 days past due because they were performing in accordance with restructured terms. For comparability purposes, prior periods were adjusted to reflect this reclassification.

Provision for loan and lease losses totaled $952 million in the third quarter of 2009, exceeding net charge-offs by $196 million. The allowance for loan and lease losses represented 4.69 percent of total loans and leases outstanding as of quarter end, compared with 4.28 percent last quarter, and represented 125 percent of nonperforming loans and leases and 122 percent of third quarter annualized net charge-offs.

11

	As of
	September 2009			June 2009			March 2009			December 2008			September 2008
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial loans	$	752		$	603		$	667		$	541		$	550
Commercial mortgage loans		912			760			692			482			724
Commercial construction loans		697			684			551			362			636
Commercial leases		51			51			27			21			23
Residential mortgage loans		267			262			265			259			216
Home equity		24			26			25			26			27
Automobile loans		1			1			2			5			3
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual loans and leases	$	2,704		$	2,387		$	2,229		$	1,696		$	2,179
Restructured loans and leases - commercial (non accrual) (a)		18			12			—			—			—
Restructured loans and leases - consumer (non accrual) (a)		225			188			167			80			50
Total nonperforming loans and leases	$	2,947		$	2,587		$	2,396		$	1,776		$	2,229
Repossessed personal property		22			21			25			24			24
Other real estate owned (b)		251			232			227			206			198
Total nonperforming assets (c)	$	3,220		$	2,840		$	2,648		$	2,006		$	2,451
Nonaccrual loans held for sale		286			352			403			473			—
Restructured loans - commercial (non accrual) held for sale		2			—			—			—			—
Total nonperforming assets including loans held for sale	$	3,508		$	3,192		$	3,051		$	2,479		$	2,451
Restructured loans and leases (accrual) (a)	$	1,280		$	1,074		$	615			494			377
Total loans and leases 90 days past due	$	992		$	762		$	733		$	662		$	671
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		3.75	%		3.17	%		2.89	%		2.11	%		2.60	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		4.09	%		3.48	%		3.20	%		2.38	%		2.86	%

(a) During 1Q09 the Bancorp modified its nonaccrual policy to exclude TDR loans less than 90 days past due because they were performing in accordance with restructured terms. For comparability purposes, prior periods were adjusted to reflect this reclassification.

(b) Excludes government insured advances.

(c) Does not include non accrual loans held-for-sale.

Nonperforming assets (NPAs) at quarter end were $3.2 billion or 4.09 percent of total loans and leases and OREO, up $380 million, or 13 percent from $2.8 billion, or 3.48 percent, last quarter. Including $288 million of nonaccrual loans classified as held-for-sale, total nonperforming assets were $3.5 billion compared with $3.2 billion in the second quarter. Growth in NPAs continues to be largely associated with commercial and residential real estate loans in Michigan and Florida. In aggregate, Florida and Michigan represented approximately 45 percent of NPAs in the loan portfolio.

Commercial NPAs at quarter-end were $2.6 billion, or 5.56 percent, and increased $350 million, or 16 percent, from the second quarter of 2009. C&I portfolio NPAs of $790 million increased $156 million from the previous quarter. Commercial construction portfolio NPAs were $751 million, an increase of $16 million from the second quarter of 2009. Commercial mortgage NPAs were $968 million, a sequential increase of $178 million. Commercial real estate loans in Michigan and Florida represented 38 percent of our total commercial real estate portfolio in the third quarter 2009 and 47 percent of commercial real estate NPAs. Across the entire commercial loan portfolio, residential real estate builder and developer portfolio NPAs were $600 million in the third quarter, down $13 million from the previous quarter. Of the residential real estate builder and developer portfolio NPAs, $306 million were commercial construction NPAs, $253 million were commercial mortgage NPAs and $41 million were C&I NPAs.

At quarter-end, $288 million of commercial nonaccrual loans were held-for-sale, compared with $352 million at the end of the second quarter. During the third quarter, we recorded a net gain of $5 million on $26 million

12

of loans that were sold or settled, and we transferred $15 million of loans to OREO. These loans continue to be carried at the lower of cost or market, currently 36 percent of the original balance.

Consumer NPAs of $660 million, or 2.04 percent, increased $32 million from the second quarter of 2009. Of consumer NPAs, $556 million were in residential real estate portfolios. Residential mortgage NPAs were $484 million, up $9 million from the previous quarter. Home equity NPAs decreased $1 million from last quarter to $72 million. Residential real estate loans in Michigan and Florida represented 61 percent of total residential real estate NPAs and 35 percent of total residential real estate loans. Nonaccrual troubled debt restructurings were $225 million, compared with $188 million last quarter. Excluding non accruing TDRs, consumer NPAs declined by $5 million from the previous quarter. Third quarter OREO balances were $251 million compared with OREO balances of $232 million in the second quarter of 2009, and included $106 million in residential mortgage assets, $15 million in home equity assets, and $130 million in commercial real estate assets. Repossessed personal property of $22 million largely consisted of autos.

Loans still accruing over 90 days past due were $992 million, up $230 million from the second quarter of 2009. Commercial 90 days past due balances increased $274 million to $612 million in the third quarter of 2009. Of the commercial balances, $188 million reflected notes past maturity as opposed to being 90 days delinquent on their payments, while $424 million are loans that are delinquent on payments. Commercial 90 days past due are expected to decline in the fourth quarter due to resolutions and lower early stage delinquencies at the end of the third quarter. Consumer 90 days past due balances of $380 million declined by $44 million from the previous quarter, reflecting moderation of primarily mortgage related consumer loans flowing into early stage delinquencies and continued migration of legacy delinquencies out of the 90 days past due category. Commercial 30-89 days past due balances were down $200 million sequentially, due to migration into the 90 days past due category, and consumer 30-89 days past due were consistent with prior quarter levels as new delinquencies continue to stabilize.

13

Capital Position

	For the Three Months Ended
	September 2009		June 2009		March 2009		December 2008		September 2008
Capital Position
Average shareholders’ equity to average assets	12.24	%	10.78	%	10.18	%	8.65	%	9.45	%
Tangible equity (a)	10.08	%	9.72	%	7.89	%	7.86	%	6.19	%
Tangible common equity (excluding unrealized gains/losses) (a)	6.74	%	6.55	%	4.23	%	4.23	%	5.23	%
Tangible common equity (including unrealized gains/losses) (a)	6.98	%	6.67	%	4.35	%	4.31	%	5.19	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (a) (b)	7.09	%	6.96	%	4.51	%	4.39	%	5.19	%
Regulatory capital ratios: (c)
Tier I capital	13.23	%	12.90	%	10.93	%	10.59	%	8.57	%
Total risk-based capital	17.48	%	16.96	%	15.13	%	14.78	%	12.30	%
Tier I leverage	12.34	%	12.17	%	10.29	%	10.27	%	8.77	%
Tier I common equity	7.03	%	6.94	%	4.50	%	4.37	%	5.18	%
Book value per share	12.69		12.71		13.61		13.57		16.65
Tangible book value per share (a)	9.50		9.51		8.79		8.74		10.10

(a) The tangible equity ratio, tangible common equity ratios and tangible book value per share ratio, while not required by accounting principles generally accepted in the United States of America (GAAP), are considered to be critical metrics with which to analyze banks. The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. See the Regulation G Non-GAAP Reconciliation table for a reconciliation of these ratios to GAAP.

(b) Under the banking agencies risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk weight of the category. The resulting weighted values are added together resulting in the Bancorp’s total risk weighted assets.

(c) Current period regulatory capital data ratios are estimated.

Compared with the prior quarter, the Tier 1 common equity ratio increased 9 bps to 7.0 percent and the tangible common equity to risk weighted assets ratio increased 13 bps to 7.1 percent. The Tier 1 capital ratio increased 33 bps to 13.2 percent, and the total capital ratio increased 52 bps to 17.5 percent. Book value per share at September 30, 2009 was $12.69 and tangible book value per share was $9.50, compared with June 30, 2009 book value per share of $12.71 and tangible book value per share of $9.51.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live by Thomson Financial and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Fifth Third” then “Investor Relations”). The webcast also is being distributed over Thomson Financial’s Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through Thomson Financial’s individual investor center at www.earnings.com or by visiting any of the investor sites in Thomson Financial’s Individual Investor Network. Institutional investors can access the call via Thomson Financial’s password-protected event management site, StreetEvents (www.streetevents.com).

Those unable to listen to the live webcast may access a webcast replay or podcast through the Fifth Third Investor Relations website at the same web address. Additionally, a telephone replay of the conference call will be available beginning approximately two hours after the conference call until Thursday, November 5^th by dialing 800-642-1687 for domestic access and 706-645-9291 for international access (passcode 31026648#).

14

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2009, the Company has $111 billion in assets, operates 16 affiliates with 1,306 full-service Banking Centers, including 100 Bank Mart® locations open seven days a week inside select grocery stores and 2,372 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2009, has $184 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed atwww.53.com. Fifth Third’s common stock is traded on the NASDAQ® National Global Select Market under the symbol “FITB.”

Forward-Looking Statements

This news release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K and our most recent quarterly report on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us.

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 and weakening in the economy, specifically the real estate market, either nationally 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) deteriorating credit quality; (3) political developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of funding and liquidity; (7) maintaining capital requirements may limit Fifth Third’s operations and potential growth; (8) changes and trends in capital markets; (9) problems encountered by larger or similar financial institutions may adversely affect the banking industry and/or Fifth Third (10) competitive pressures among depository institutions increase significantly; (11) effects of critical accounting policies and judgments; (12) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (13) 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; (14) ability to maintain favorable ratings from rating agencies; (15) fluctuation of Fifth Third’s stock price; (16) ability to attract and retain key personnel; (17) ability to receive dividends from its subsidiaries; (18) potentially dilutive effect of future acquisitions on current shareholders’ ownership of Fifth Third; (19) effects of accounting or financial results of one or more acquired entities; (20) lower than expected gains related to any sale or potential sale of businesses; (21) difficulties in separating Fifth Third Processing Solutions from Fifth Third; (22) loss of income from any sale or potential sale of businesses that could have an adverse effect on Fifth Third’s earnings and future growth;(23) ability to secure confidential information through the use of computer systems and telecommunications networks; and (24) the impact of reputational risk created by these developments on such matters as business generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements.

# # #

15

Quarterly Financial Review for September 30, 2009

Table of Contents

Financial Highlights	17-18
Consolidated Statements of Income	19
Consolidated Statements of Income (Taxable Equivalent)	20
Consolidated Balance Sheets	21-22
Consolidated Statements of Changes in Shareholders’ Equity	23
Average Balance Sheet and Yield Analysis	24-26
Summary of Loans and Leases	27
Regulatory Capital	28
Summary of Credit Loss Experience	29
Asset Quality	30
Regulation G Non-GAAP Reconciliation	31
Segment Presentation	32

16

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended									% Change				Year to Date						% Change
	September 2009			June 2009			September 2008			Seq		Yr/Yr		September 2009			September 2008			Yr/Yr
Income Statement Data
Net interest income (a)	$	874		$	836		$	1,068		5	%	(18	%)	$	2,491		$	2,638		(6	%)
Noninterest income		851			2,583			717		(67	%)	19	%		4,130			2,304		79	%
Total revenue (a)		1,725			3,419			1,785		(50	%)	(3	%)		6,621			4,942		34	%
Provision for loan and lease losses		952			1,041			941		(9	%)	1	%		2,766			2,203		26	%
Noninterest expense		876			1,021			967		(14	%)	(9	%)		2,859			2,543		12	%
Net income (loss)		(97	)		882			(56	)	NM		74	%		835			29		NM
Net income (loss) available to common shareholders		(159	)		856			(81	)	NM		97	%		670			3		NM
Common Share Data
Earnings per share, basic	($	0.20	)	$	1.35		($	0.14	)	NM		43	%	$	1.00		$	0.01		NM
Earnings per share, diluted		(0.20	)		1.15			(0.14	)	NM		43	%		0.91			(0.14	)	NM
Cash dividends per common share		0.01			0.01			0.15		—		(93	%)		0.03			0.74		(96	%)
Book value per share		12.69			12.71			16.65		—		(24	%)		12.69			16.65		(24	%)
Market price per share		10.13			7.10			11.90		43	%	(15	%)		10.13			11.90		(15	%)
Common shares outstanding (in thousands)		795,316			795,313			577,487		—		38	%		795,316			577,487		38	%
Average common shares outstanding (in thousands):
Basic		790,334			629,789			571,705		25	%	38	%		664,778			546,835		22	%
Diluted		790,334			718,245			571,705		10	%	38	%		739,287			548,749		35	%
Market capitalization	$	8,057		$	5,647		$	6,872		43	%	17	%	$	8,057		$	6,872		17	%
Financial Ratios
Return on assets		(0.34	%)		3.05	%		(0.19	%)	NM		79	%		0.96	%		0.03	%	NM
Return on average common equity		(6.1	%)		41.2	%		(3.3	%)	NM		85	%		10.1	%		—		NM
Noninterest income as a percent of total revenue		49	%		76	%		40	%	(36	%)	23	%		62	%		47	%	32	%
Average equity as a percent of average assets		12.24	%		10.78	%		9.45	%	14	%	30	%		11.06	%		8.83	%	25	%
Tangible equity (b) (d)		10.08	%		9.72	%		6.19	%	4	%	63	%		10.08	%		6.19	%	63	%
Tangible common equity (c) (d)		6.74	%		6.55	%		5.23	%	3	%	29	%		6.74	%		5.23	%	29	%
Net interest margin (a)		3.43	%		3.26	%		4.24	%	5	%	(19	%)		3.25	%		3.57	%	(9	%)
Efficiency (a)		50.8	%		29.9	%		54.2	%	70	%	(6	%)		43.2	%		51.4	%	(16	%)
Effective tax rate		10.2	%		34.7	%		56.6	%	(71	%)	(82	%)		14.9	%		84.0	%	(82	%)
Credit Quality
Net losses charged off	$	756		$	626		$	463		21	%	63	%	$	1,872		$	1,082		73	%
Net losses charged off as a percent of average loans and leases		3.75	%		3.08	%		2.17	%	22	%	73	%		3.06	%		1.74	%	76	%
Allowance for loan and lease losses as a percent of loans and leases		4.69	%		4.28	%		2.41	%	10	%	95	%		4.69	%		2.41	%	95	%
Allowance for credit losses as a percent of loans and leases		5.06	%		4.57	%		2.56	%	11	%	98	%		5.06	%		2.56	%	98	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		4.04	%		3.48	%		2.86	%	16	%	41	%		4.04	%		2.86	%	41	%
Average Balances
Loans and leases, including held for sale	$	82,888		$	84,996		$	85,772		(2	%)	(3	%)	$	84,560		$	85,302		(1	%)
Total securities and other short-term investments		18,065			17,762			14,515		2	%	24	%		17,888			13,494		33	%
Total assets		113,453			115,878			114,784		(2	%)	(1	%)		115,985			112,732		3	%
Transaction deposits (f)		55,607			54,115			52,399		3	%	6	%		54,034			53,204		2	%
Core deposits (g)		69,871			68,727			63,179		2	%	11	%		68,492			63,599		8	%
Wholesale funding (h)		25,947			31,369			37,036		(17	%)	(30	%)		30,707			35,145		(13	%)
Shareholders’ equity		13,885			12,490			10,843		11	%	28	%		12,826			9,953		29	%
Regulatory Capital Ratios (i)
Tier I capital		13.23	%		12.90	%		8.57	%	3	%	54	%		13.23	%		8.57	%	54	%
Total risk-based capital		17.48	%		16.96	%		12.30	%	3	%	42	%		17.48	%		12.30	%	42	%
Tier I leverage		12.34	%		12.17	%		8.77	%	1	%	41	%		12.34	%		8.77	%	41	%
Tier I common equity		7.03	%		6.94	%		5.18	%	1	%	36	%		7.03	%		5.18	%	36	%
Operations
Banking centers		1,306			1,306			1,298		—		1	%		1,306			1,298		1	%
ATMs		2,372			2,355			2,329		1	%	2	%		2,372			2,329		2	%
Full-time equivalent employees		20,559			20,702			21,522		(1	%)	(4	%)		20,559			21,522		(4	%)

(a) Presented on a fully taxable equivalent basis

(b) The tangible equity ratio is calculated as tangible equity (shareholders’ equity less goodwill, intangible assets and accumulated other comprehensive income) divided by tangible assets (total assets less goodwill, intangible assets and tax effected accumulated other comprehensive income.)

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill intangible assets and accumulated other comprehensive income) divided by tangible assets (defined above.)

(d) The tangible equity and tangible common equity ratios, while not required by GAAP, are considered to be critical metrics with which to analyze banks. The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition.

(e) Excludes nonaccrual loans held for sale

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers

(g) Includes transaction deposits plus other time deposits

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, short-term borrowings and long-term debt

(i) Current period regulatory capital ratios are estimates

17

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	September 2009			June 2009			March 2009			December 2008			September 2008
Income Statement Data
Net interest income (a)	$	874		$	836		$	781		$	897		$	1,068
Noninterest income		851			2,583			697			642			717
Total revenue (a)		1,725			3,419			1,478			1,539			1,785
Provision for loan and lease losses		952			1,041			773			2,356			941
Noninterest expense		876			1,021			962			2,022			967
Net income (loss)		(97	)		882			50			(2,142	)		(56	)
Net income (loss) available to common shareholders		(159	)		856			(26	)		(2,184	)		(81	)
Common Share Data
Earnings per share, basic	($	0.20	)	$	1.35		($	0.04	)	($	3.78	)	($	0.14	)
Earnings per share, diluted		(0.20	)		1.15			(0.04	)		(3.78	)		(0.14	)
Cash dividends per common share		0.01			0.01			0.01			0.01			0.15
Book value per share		12.69			12.71			13.61			13.57			16.65
Market price per share		10.13			7.10			2.92			8.26			11.90
Common shares outstanding (in thousands)		795,316			795,313			576,936			577,387			577,487
Average common shares outstanding (in thousands):
Basic		790,334			629,789			571,810			571,809			571,705
Diluted		790,334			718,245			571,810			571,809			571,705
Market capitalization	$	8,057		$	5,647		$	1,685		$	4,769		$	6,872
Financial Ratios
Return on assets		(0.34	%)		3.05	%		0.17	%		(7.16	%)		(0.19	%)
Return on average common equity		(6.1	%)		41.2	%		(1.4	%)		(94.6	%)		(3.3	%)
Noninterest income as a percent of total revenue		49	%		76	%		47	%		42	%		40	%
Average equity as a percent of average assets		12.24	%		10.78	%		10.18	%		8.65	%		9.45	%
Tangible equity (b) (d)		10.08	%		9.72	%		7.89	%		7.86	%		6.19	%
Tangible common equity (c) (d)		6.74	%		6.55	%		4.23	%		4.23	%		5.23	%
Net interest margin (a)		3.43	%		3.26	%		3.06	%		3.46	%		4.24	%
Efficiency (a)		50.8	%		29.9	%		65.1	%		131.3	%		54.2	%
Effective tax rate		10.2	%		34.7	%		(119.0	%)		(24.7	%)		56.6	%
Credit Quality
Net losses charged off	$	756		$	626		$	490		$	1,627		$	463
Net losses charged off as a percent of average loans and leases		3.75	%		3.08	%		2.38	%		7.50	%		2.17	%
Allowance for loan and lease losses as a percent of loans and leases		4.69	%		4.28	%		3.72	%		3.31	%		2.41	%
Allowance for credit losses as a percent of loans and leases		5.06	%		4.57	%		4.00	%		3.54	%		2.56	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		4.04	%		3.48	%		3.20	%		2.38	%		2.86	%
Average Balances
Loans and leases, including held for sale	$	82,888		$	84,996		$	85,829		$	87,426		$	85,772
Total securities and other short-term investments		18,065			17,762			17,835			15,683			14,515
Total assets		113,453			115,878			118,681			118,953			114,784
Transaction deposits (f)		55,607			54,115			52,347			51,119			52,399
Core deposits (g)		69,871			68,727			66,848			64,456			63,179
Wholesale funding (h)		25,947			31,369			34,902			39,586			37,036
Shareholders’ equity		13,885			12,490			12,084			10,291			10,843
Regulatory Capital Ratios (i)
Tier I capital		13.23	%		12.90	%		10.93	%		10.59	%		8.57	%
Total risk-based capital		17.48	%		16.96	%		15.13	%		14.78	%		12.30	%
Tier I leverage		12.34	%		12.17	%		10.29	%		10.27	%		8.77	%
Tier I common equity		7.03	%		6.94	%		4.50	%		4.37	%		5.18	%
Operations
Banking centers		1,306			1,306			1,311			1,307			1,298
ATMs		2,372			2,355			2,354			2,341			2,329
Full-time equivalent employees		20,559			20,702			20,618			21,476			21,522

(a) Presented on a fully taxable equivalent basis

(b) The tangible equity ratio is calculated as tangible equity (shareholders’ equity less goodwill, intangible assets and accumulated other comprehensive income) divided by tangible assets (total assets less goodwill, intangible assets and tax effected accumulated other comprehensive income.)

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill intangible assets and accumulated other comprehensive income) divided by tangible assets (defined above.)

(d) The tangible equity and tangible common equity ratios, while not required by GAAP, are considered to be critical metrics with which to analyze banks. The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition.

(e) Excludes nonaccrual loans held for sale

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers

(g) Includes transaction deposits plus other time deposits

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, short-term borrowings and long-term debt

(i) Current period regulatory capital ratios are estimates

18

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended									% Change				Year to Date						% Change
	September 2009			June 2009			September 2008			Seq		Yr/Yr		September 2009			September 2008			Yr/Yr
Interest Income
Interest and fees on loans and leases	$	986		$	995		$	1,378		(1	%)	(28	%)	$	2,977		$	3,718		(20	%)
Interest on securities		183			184			165		(1	%)	11	%		547			472		16	%
Interest on other short-term investments		0			0			5		(10	%)	(95	%)		1			12		(91	%)
Total interest income		1,169			1,179			1,548		(1	%)	(25	%)		3,525			4,202		(16	%)
Interest Expense
Interest on deposits		228			258			291		(12	%)	(22	%)		759			967		(22	%)
Interest on short-term borrowings		4			12			64		(64	%)	(93	%)		41			193		(79	%)
Interest on long-term debt		68			78			130		(12	%)	(48	%)		249			421		(41	%)
Total interest expense		300			348			485		(14	%)	(38	%)		1,049			1,581		(34	%)
Net Interest Income		869			831			1,063		5	%	(18	%)		2,476			2,621		(6	%)
Provision for loan and lease losses		952			1,041			941		(9	%)	1	%		2,766			2,203		26	%
Net interest income (loss) after provision for loan and lease losses		(83	)		(210	)		122		(61	%)	NM			(290	)		418		NM
Noninterest Income
Service charges on deposits		164			162			172		1	%	(4	%)		472			478		(1	%)
Corporate banking revenue		86			99			104		(13	%)	(18	%)		301			323		(7	%)
Mortgage banking net revenue		140			147			45		(5	%)	208	%		421			228		85	%
Investment advisory revenue		74			73			90		1	%	(18	%)		222			275		(19	%)
Card and processing revenue		74			243			235		(70	%)	(69	%)		539			682		(21	%)
Gain on sale of processing business		(6	)		1,764			—		NM		NM			1,758			—		NM
Other noninterest income		311			49			112		538	%	177	%		372			339		10	%
Securities gains (losses), net		8			5			(63	)	60	%	NM			(12	)		(45	)	(73	%)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		—			41			22		(100	%)	(100	%)		57			24		137	%
Total noninterest income		851			2,583			717		(67	%)	19	%		4,130			2,304		79	%
Noninterest Expense
Salaries, wages and incentives		335			346			321		(3	%)	4	%		1,008			1,000		1	%
Employee benefits		83			75			72		11	%	16	%		241			216		11	%
Net occupancy expense		75			79			77		(5	%)	(3	%)		233			222		5	%
Technology and communications		43			45			47		(4	%)	(7	%)		133			142		(6	%)
Equipment expense		30			31			34		(4	%)	(12	%)		92			95		(3	%)
Card and processing expense		25			75			70		(66	%)	(64	%)		167			203		(18	%)
Other noninterest expense		285			370			346		(23	%)	(18	%)		985			665		48	%
Total noninterest expense		876			1,021			967		(14	%)	(9	%)		2,859			2,543		12	%
Income (loss) before income taxes		(108	)		1,352			(128	)	NM		(16	%)		981			179		447	%
Applicable income taxes		(11	)		470			(72	)	NM		(85	%)		146			150		(3	%)
Net income (loss)		(97	)		882			(56	)	NM		74	%		835			29		NM
Dividends on preferred stock		62			26			25		138	%	148	%		165			26		535	%
Net income (loss) available to common shareholders	($	159	)	$	856		($	81	)	NM		97	%	$	670		$	3		NM

19

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	September 2009			June 2009			March 2009			December 2008			September 2008
Interest Income
Interest and fees on loans and leases	$	986		$	995		$	997		$	1,218		$	1,378
Interest on securities		183			184			180			187			165
Interest on other short-term investments		0			0			1			1			5
Total interest income		1,169			1,179			1,178			1,406			1,548
Taxable equivalent adjustment		5			5			5			5			5
Total interest income (taxable equivalent)		1,174			1,184			1,183			1,411			1,553
Interest Expense
Interest on deposits		228			258			274			322			291
Interest on short-term borrowings		4			12			24			55			64
Interest on long-term debt		68			78			104			137			130
Total interest expense		300			348			402			514			485
Net interest income (taxable equivalent)		874			836			781			897			1,068
Provision for loan and lease losses		952			1,041			773			2,356			941
Net interest income (loss) (taxable equivalent) after provision for loan and lease losses		(78	)		(205	)		8			(1,459	)		127
Noninterest Income
Service charges on deposits		164			162			146			162			172
Corporate banking revenue		86			99			116			121			104
Mortgage banking net revenue		140			147			134			(29	)		45
Investment advisory revenue		74			73			76			78			90
Card and processing revenue		74			243			223			230			235
Gain on sale of FTPS joint venture		(6	)		1,764			—			—			—
Other noninterest income		311			49			10			24			112
Securities gains (losses), net		8			5			(24	)		(40	)		(63	)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		—			41			16			96			22
Total noninterest income		851			2,583			697			642			717
Noninterest Expense
Salaries, wages and incentives		335			346			327			337			321
Employee benefits		83			75			83			61			72
Net occupancy expense		75			79			79			77			77
Technology and communications		43			45			45			48			47
Equipment expense		30			31			31			35			34
Card and processing expense		25			75			67			70			70
Other noninterest expense		285			370			330			1,394			346
Total noninterest expense		876			1,021			962			2,022			967
Income (loss) before income taxes (taxable equivalent)		(103	)		1,357			(257	)		(2,839	)		(123	)
Taxable equivalent adjustment		5			5			5			5			5
Income (loss) before income taxes		(108	)		1,352			(262	)		(2,844	)		(128	)
Applicable income taxes		(11	)		470			(312	)		(702	)		(72	)
Net income (loss)		(97	)		882			50			(2,142	)		(56	)
Dividends on preferred stock		62			26			76			42			25
Net income (loss) available to common shareholders	($	159	)	$	856		($	26	)	($	2,184	)	($	81	)

20

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of									% Change
	September 2009			June 2009			September 2008			Seq		Yr/Yr
Assets
Cash and due from banks	$	2,130		$	2,899		$	2,774		(27	%)	(23	%)
Available-for-sale and other securities (a)		15,682			16,061			13,177		(2	%)	19	%
Held-to-maturity securities (b)		356			357			360		—		(1	%)
Trading securities		1,079			1,354			915		(20	%)	18	%
Other short-term investments		1,126			513			229		120	%	391	%
Loans held for sale		2,063			3,341			1,000		(38	%)	106	%
Portfolio loans and leases:
Commercial loans		26,175			28,409			29,424		(8	%)	(11	%)
Commercial mortgage loans		12,105			12,407			13,355		(2	%)	(9	%)
Commercial construction loans		4,147			4,491			6,002		(8	%)	(31	%)
Commercial leases		3,584			3,532			3,642		1	%	(2	%)
Residential mortgage loans		8,229			8,489			9,351		(3	%)	(12	%)
Home equity		12,377			12,511			12,599		(1	%)	(2	%)
Automobile loans		8,972			8,741			8,306		3	%	8	%
Credit card		1,973			1,914			1,688		3	%	17	%
Other consumer loans and leases		857			935			1,131		(8	%)	(24	%)
Portfolio loans and leases		78,419			81,429			85,498		(4	%)	(8	%)
Allowance for loan and lease losses		(3,681	)		(3,485	)		(2,058	)	6	%	79	%
Portfolio loans and leases, net		74,738			77,944			83,440		(4	%)	(10	%)
Bank premises and equipment		2,426			2,440			2,470		(1	%)	(2	%)
Operating lease equipment		486			474			369		2	%	32	%
Goodwill		2,417			2,417			3,592		—		(33	%)
Intangible assets		119			133			188		(10	%)	(37	%)
Servicing rights		626			595			687		5	%	(9	%)
Other assets		7,492			7,456			7,093		—		6	%
Total assets	$	110,740		$	115,984		$	116,294		(5	%)	(5	%)
Liabilities
Deposits:
Demand	$	17,666		$	17,202		$	14,241		3	%	24	%
Interest checking		15,168			14,630			13,251		4	%	14	%
Savings		17,098			16,819			15,955		2	%	7	%
Money market		4,378			4,193			5,352		4	%	(18	%)
Foreign office		2,356			2,244			1,999		5	%	18	%
Other time		13,725			14,540			11,778		(6	%)	17	%
Certificates - $100,000 and over		8,962			10,688			13,173		(16	%)	(32	%)
Other		5			504			1,711		(99	%)	(100	%)
Total deposits		79,358			80,820			77,460		(2	%)	2	%
Federal funds purchased		433			435			2,521		(1	%)	(83	%)
Other short-term borrowings		3,674			6,802			8,791		(46	%)	(58	%)
Accrued taxes, interest and expenses		878			959			1,757		(8	%)	(50	%)
Other liabilities		2,547			3,166			2,122		(20	%)	20	%
Long-term debt		10,162			10,102			12,947		1	%	(22	%)
Total liabilities		97,052			102,284			105,598		(5	%)	(8	%)
Shareholders’ equity
Common stock		1,779			1,779			1,295		—		37	%
Preferred stock		3,599			3,588			1,082		—		233	%
Capital surplus		1,729			1,722			597		—		190	%
Retained earnings		6,496			6,663			8,013		(3	%)	(19	%)
Accumulated other comprehensive income (loss)		285			152			(60	)	87	%	NM
Treasury stock		(200	)		(204	)		(231	)	(2	%)	(13	%)
Total shareholders’ equity (c)		13,688			13,700			10,696		—		28	%
Total liabilities and shareholders’ equity	$	110,740		$	115,984		$	116,294		(5	%)	(5	%)
(a) Amortized cost	$	15,260		$	15,820		$	13,249		(4	%)	15	%
(b) Market values		356			357			360		—		(1	%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000		—		—
Outstanding, excluding treasury		795,316			795,313			577,487		—		38	%
Treasury		6,188			6,191			5,941		—		4	%

21

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	September 2009			June 2009			March 2009			December 2008			September 2008
Assets
Cash and due from banks	$	2,130		$	2,899		$	2,491		$	2,739		$	2,774
Available-for-sale and other securities (a)		15,682			16,061			16,916			12,728			13,177
Held-to-maturity securities (b)		356			357			358			360			360
Trading securities		1,079			1,354			1,407			1,191			915
Other short-term investments		1,126			513			1,587			3,578			229
Loans held for sale		2,063			3,341			2,602			1,452			1,000
Portfolio loans and leases:
Commercial loans		26,175			28,409			28,617			29,197			29,424
Commercial mortgage loans		12,105			12,407			12,560			12,502			13,355
Commercial construction loans		4,147			4,491			4,745			5,114			6,002
Commercial leases		3,584			3,532			3,521			3,666			3,642
Residential mortgage loans		8,229			8,489			8,875			9,385			9,351
Home equity		12,377			12,511			12,710			12,752			12,599
Automobile loans		8,972			8,741			8,688			8,594			8,306
Credit card		1,973			1,914			1,816			1,811			1,688
Other consumer loans and leases		857			935			1,037			1,122			1,131
Portfolio loans and leases		78,419			81,429			82,569			84,143			85,498
Allowance for loan and lease losses		(3,681	)		(3,485	)		(3,070	)		(2,787	)		(2,058	)
Portfolio loans and leases, net		74,738			77,944			79,499			81,356			83,440
Bank premises and equipment		2,426			2,440			2,490			2,494			2,470
Operating lease equipment		486			474			470			463			369
Goodwill		2,417			2,417			2,623			2,624			3,592
Intangible assets		119			133			154			168			188
Servicing rights		626			595			481			499			687
Other assets		7,492			7,456			8,235			10,112			7,093
Total assets	$	110,740		$	115,984		$	119,313		$	119,764		$	116,294
Liabilities
Deposits:
Demand	$	17,666		$	17,202		$	16,370		$	15,287		$	14,241
Interest checking		15,168			14,630			14,510			14,222			13,251
Savings		17,098			16,819			16,517			16,063			15,955
Money market		4,378			4,193			4,353			4,689			5,352
Foreign office		2,356			2,244			1,671			2,144			1,999
Other time		13,725			14,540			14,571			14,350			11,778
Certificates - $100,000 and over		8,962			10,688			11,784			11,851			13,173
Other		5			504			6			7			1,711
Total deposits		79,358			80,820			79,782			78,613			77,460
Federal funds purchased		433			435			363			287			2,521
Other short-term borrowings		3,674			6,802			11,076			9,959			8,791
Accrued taxes, interest and expenses		878			959			904			2,029			1,757
Other liabilities		2,547			3,166			2,908			3,214			2,122
Long-term debt		10,162			10,102			12,178			13,585			12,947
Total liabilities		97,052			102,284			107,211			107,687			105,598
Shareholders’ equity
Common stock		1,779			1,779			1,295			1,295			1,295
Preferred stock		3,599			3,588			4,252			4,241			1,082
Capital surplus		1,729			1,722			841			848			597
Retained earnings		6,496			6,663			5,792			5,824			8,013
Accumulated other comprehensive income (loss)		285			152			151			98			(60	)
Treasury stock		(200	)		(204	)		(229	)		(229	)		(231	)
Total shareholders’ equity (c)		13,688			13,700			12,102			12,077			10,696
Total liabilities and shareholders’ equity	$	110,740		$	115,984		$	119,313		$	119,764		$	116,294
(a) Amortized cost	$	15,260		$	15,820		$	16,642		$	12,550		$	13,249
(b) Market values		356			357			358			360			360
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000			2,000,000			2,000,000
Outstanding, excluding treasury		795,316			795,313			576,936			577,387			577,487
Treasury		6,188			6,191			6,491			6,040			5,941

22

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Shareholders’ Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	September 2009			September 2008			September 2009			September 2008
Total shareholders’ equity, beginning	$	13,700		$	10,754		$	12,077		$	9,161
Net income (loss)		(97	)		(56	)		835			29
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		117			85			159			47
Qualifying cash flow hedges		13			7			20			15
Change in accumulated other comprehensive income related to employee benefit plans		3			1			8			4
Comprehensive income		36			37			1,022			95
Cash dividends declared:
Common stock		(8	)		(87	)		(21	)		(408	)
Preferred stock		(51	)		(25	)		(133	)		(26	)
Issuance of common stock		—			—			986			—
Issuance of preferred stock, Series G		—			—			—			1,072
Exchange of preferred stock, Series G		—			—			(269	)		—
Stock-based awards exercised, including treasury shares issued		—			—			1			—
Stock-based compensation expense		11			15			34			43
Loans repaid (issued) related to exercise of stock-based awards, net		—			1			—			2
Change in corporate tax benefit related to stock-based compensation		—			—			(30	)		(15	)
Shares issued in an acquisition		—			—			—			770
Reversal of OTTI		—			—			24			—
Other		—			1			(3	)		2
Total shareholders’ equity, ending	$	13,688		$	10,696		$	13,688		$	10,696

23

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended									% Change
	September 2009			June 2009			September 2008			Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial loans	$	27,416		$	28,038		$	28,284		(2	%)	(3	%)
Commercial mortgage loans		12,449			12,668			13,257		(2	%)	(6	%)
Commercial construction loans		4,475			4,842			6,110		(8	%)	(27	%)
Commercial leases		3,522			3,512			3,642		—		(3	%)
Residential mortgage loans		10,820			11,669			10,711		(7	%)	1	%
Home equity		12,452			12,636			12,534		(1	%)	(1	%)
Automobile loans		8,871			8,692			8,303		2	%	7	%
Credit card		1,955			1,863			1,720		5	%	14	%
Other consumer loans and leases		928			1,076			1,211		(14	%)	(23	%)
Taxable securities		16,850			16,778			13,310		—		27	%
Tax exempt securities		246			242			315		2	%	(22	%)
Other short-term investments		969			742			890		31	%	9	%
Total interest-earning assets		100,953			102,758			100,287		(2	%)	1	%
Cash and due from banks		2,257			2,350			2,468		(4	%)	(9	%)
Other assets		13,724			13,907			13,683		(1	%)	—
Allowance for loan and lease losses		(3,481	)		(3,137	)		(1,654	)	11	%	110	%
Total assets	$	113,453		$	115,878		$	114,784		(2	%)	(1	%)
Liabilities
Interest-bearing liabilities:
Interest checking	$	14,869		$	14,837		$	13,843		—		7	%
Savings		16,967			16,705			16,154		2	%	5	%
Money market		4,280			4,167			6,051		3	%	(29	%)
Foreign office		2,432			1,717			2,126		42	%	14	%
Other time		14,264			14,612			10,780		(2	%)	32	%
Certificates - $100,000 and over		10,055			11,455			11,623		(12	%)	(13	%)
Other		95			240			395		(60	%)	(76	%)
Federal funds purchased		404			542			1,013		(25	%)	(60	%)
Other short-term borrowings		5,285			8,002			9,613		(34	%)	(45	%)
Long-term debt		10,108			11,130			14,392		(9	%)	(30	%)
Total interest-bearing liabilities		78,759			83,407			85,990		(6	%)	(8	%)
Demand deposits		17,059			16,689			14,225		2	%	20	%
Other liabilities		3,750			3,292			3,726		14	%	1	%
Total liabilities		99,568			103,388			103,941		(4	%)	(4	%)
Shareholders’ equity		13,885			12,490			10,843		11	%	28	%
Total liabilities and shareholders’ equity	$	113,453		$	115,878		$	114,784		(2	%)	(1	%)
Yield Analysis
Interest-earning assets:
Commercial loans		4.36	%		4.06	%		5.46	%
Commercial mortgage loans		4.22	%		4.44	%		8.71	%
Commercial construction loans		2.74	%		2.80	%		6.97	%
Commercial leases		4.59	%		4.66	%		3.85	%
Residential mortgage loans		5.23	%		5.65	%		7.05	%
Home equity		4.10	%		4.14	%		5.76	%
Automobile loans		6.32	%		6.36	%		6.32	%
Credit card		9.87	%		10.06	%		9.93	%
Other consumer loans and leases		9.59	%		7.52	%		4.93	%
Total loans and leases		4.73	%		4.71	%		6.41	%
Taxable securities		4.24	%		4.33	%		4.81	%
Tax exempt securities		7.05	%		8.04	%		7.38	%
Other short-term investments		0.10	%		0.15	%		2.21	%
Total interest-earning assets		4.61	%		4.62	%		6.16	%
Interest-bearing liabilities:
Interest checking		0.24	%		0.27	%		0.78	%
Savings		0.67	%		0.77	%		1.29	%
Money market		0.55	%		0.63	%		1.67	%
Foreign office		0.43	%		0.54	%		1.37	%
Other time		3.24	%		3.48	%		3.31	%
Certificates - $100,000 and over		2.56	%		2.80	%		2.97	%
Other		0.19	%		0.19	%		1.83	%
Federal funds purchased		0.15	%		0.18	%		1.78	%
Other short-term borrowings		0.32	%		0.61	%		2.46	%
Long-term debt		2.67	%		2.79	%		3.63	%
Total interest-bearing liabilities		1.51	%		1.67	%		2.25	%
Ratios:
Net interest margin (taxable equivalent)		3.43	%		3.26	%		4.24	%
Net interest rate spread (taxable equivalent)		3.10	%		2.95	%		3.91	%
Interest-bearing liabilities to interest-earning assets		78.02	%		81.17	%		85.74	%

24

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date						% Change
	September 2009			September 2008			Yr/Yr
Assets
Interest-earning assets:
Commercial loans	$	28,135		$	27,821		1	%
Commercial mortgage loans		12,641			12,635		—
Commercial construction loans		4,808			5,797		(17	%)
Commercial leases		3,532			3,704		(5	%)
Residential mortgage loans		11,137			11,216		(1	%)
Home equity		12,616			12,132		4	%
Automobile loans		8,751			9,092		(4	%)
Credit card		1,882			1,694		11	%
Other consumer loans and leases		1,058			1,211		(13	%)
Taxable securities		16,639			12,477		33	%
Tax exempt securities		250			360		(31	%)
Other short-term investments		999			657		52	%
Total interest-earning assets		102,448			98,796		4	%
Cash and due from banks		2,347			2,354		—
Other assets		14,327			12,847		12	%
Allowance for loan and lease losses		(3,137	)		(1,265	)	148	%
Total assets	$	115,985		$	112,732		3	%
Liabilities
Interest-bearing liabilities:
Interest checking	$	14,647		$	14,357		2	%
Savings		16,651			16,270		2	%
Money market		4,334			6,511		(33	%)
Foreign office		1,970			2,246		(12	%)
Other time		14,458			10,395		39	%
Certificates - $100,000 and over		11,098			8,545		30	%
Other		193			2,394		(92	%)
Federal funds purchased		548			3,297		(83	%)
Other short-term borrowings		7,620			6,735		13	%
Long-term debt		11,248			14,174		(21	%)
Total interest-bearing liabilities		82,767			84,924		(3	%)
Demand deposits		16,432			13,820		19	%
Other liabilities		3,960			4,035		(2	%)
Total liabilities		103,159			102,779		—
Shareholders’ equity		12,826			9,953		29	%
Total liabilities and shareholders’ equity	$	115,985		$	112,732		3	%
Yield Analysis
Interest-earning assets:
Commercial loans		4.14	%		5.49	%
Commercial mortgage loans		4.41	%		7.02	%
Commercial construction loans		2.97	%		6.04	%
Commercial leases		4.13	%		-0.57	%
Residential mortgage loans		5.64	%		6.42	%
Home equity		4.17	%		5.94	%
Automobile loans		6.36	%		6.33	%
Credit card		10.26	%		9.46	%
Other consumer loans and leases		7.64	%		5.14	%
Total loans and leases		4.72	%		5.84	%
Taxable securities		4.32	%		4.92	%
Tax exempt securities		7.51	%		7.34	%
Other short-term investments		0.15	%		2.47	%
Total interest-earning assets		4.62	%		5.70	%
Interest-bearing liabilities:
Interest checking		0.26	%		1.00	%
Savings		0.77	%		1.42	%
Money market		0.63	%		2.08	%
Foreign office		0.49	%		1.79	%
Other time		3.45	%		3.72	%
Certificates - $100,000 and over		2.81	%		3.40	%
Other		0.21	%		2.69	%
Federal funds purchased		0.22	%		2.67	%
Other short-term borrowings		0.70	%		2.51	%
Long-term debt		2.96	%		3.97	%
Total interest-bearing liabilities		1.69	%		2.49	%
Ratios:
Net interest margin (taxable equivalent)		3.25	%		3.57	%
Net interest rate spread (taxable equivalent)		2.93	%		3.21	%
Interest-bearing liabilities to interest-earning assets		80.79	%		85.96	%

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	September 2009			June 2009			March 2009			December 2008			September 2008
Assets
Interest-earning assets:
Commercial loans	$	27,416		$	28,038		$	28,968		$	30,227		$	28,284
Commercial mortgage loans		12,449			12,668			12,809			13,194			13,257
Commercial construction loans		4,475			4,842			5,115			5,990			6,110
Commercial leases		3,522			3,512			3,564			3,610			3,642
Residential mortgage loans		10,820			11,669			10,921			10,327			10,711
Home equity		12,452			12,636			12,763			12,677			12,534
Automobile loans		8,871			8,692			8,687			8,428			8,303
Credit card		1,955			1,863			1,825			1,748			1,720
Other consumer loans and leases		928			1,076			1,177			1,225			1,211
Taxable securities		16,850			16,778			16,283			14,882			13,310
Tax exempt securities		246			242			262			288			315
Other short-term investments		969			742			1,290			513			890
Total interest-earning assets		100,953			102,758			103,664			103,109			100,287
Cash and due from banks		2,257			2,350			2,438			2,897			2,468
Other assets		13,724			13,907			15,363			15,089			13,683
Allowance for loan and lease losses		(3,481	)		(3,137	)		(2,784	)		(2,142	)		(1,654	)
Total assets	$	113,453		$	115,878		$	118,681		$	118,953		$	114,784
Liabilities
Interest-bearing liabilities:
Interest checking	$	14,869		$	14,837		$	14,229		$	13,698		$	13,843
Savings		16,967			16,705			16,272			15,960			16,154
Money market		4,280			4,167			4,559			4,983			6,051
Foreign office		2,432			1,717			1,755			1,876			2,126
Other time		14,264			14,612			14,501			13,337			10,780
Certificates - $100,000 and over		10,055			11,455			11,802			12,468			11,623
Other		95			240			247			1,090			395
Federal funds purchased		404			542			701			2,016			1,013
Other short-term borrowings		5,285			8,002			9,621			10,912			9,613
Long-term debt		10,108			11,130			12,531			13,100			14,392
Total interest-bearing liabilities		78,759			83,407			86,218			89,440			85,990
Demand deposits		17,059			16,689			15,532			14,602			14,225
Other liabilities		3,750			3,292			4,847			4,620			3,726
Total liabilities		99,568			103,388			106,597			108,662			103,941
Shareholders’ equity		13,885			12,490			12,084			10,291			10,843
Total liabilities and shareholders’ equity	$	113,453		$	115,878		$	118,681		$	118,953		$	114,784
Yield Analysis
Interest-earning assets:
Commercial loans		4.36	%		4.06	%		4.00	%		4.96	%		5.46	%
Commercial mortgage loans		4.22	%		4.44	%		4.56	%		6.10	%		8.71	%
Commercial construction loans		2.74	%		2.80	%		3.35	%		5.32	%		6.97	%
Commercial leases		4.59	%		4.66	%		3.12	%		3.75	%		3.85	%
Residential mortgage loans		5.23	%		5.65	%		6.04	%		6.37	%		7.05	%
Home equity		4.10	%		4.14	%		4.28	%		5.08	%		5.76	%
Automobile loans		6.32	%		6.36	%		6.40	%		6.40	%		6.32	%
Credit card		9.87	%		10.06	%		10.89	%		10.68	%		9.93	%
Other consumer loans and leases		9.59	%		7.52	%		6.18	%		5.70	%		4.93	%
Total loans and leases		4.73	%		4.71	%		4.73	%		5.55	%		6.41	%
Taxable securities		4.24	%		4.33	%		4.39	%		4.91	%		4.81	%
Tax exempt securities		7.05	%		8.04	%		7.44	%		7.41	%		7.38	%
Other short-term investments		0.10	%		0.15	%		0.19	%		0.91	%		2.21	%
Total interest-earning assets		4.61	%		4.62	%		4.63	%		5.44	%		6.16	%
Interest-bearing liabilities:
Interest checking		0.24	%		0.27	%		0.27	%		0.60	%		0.78	%
Savings		0.67	%		0.77	%		0.89	%		1.27	%		1.29	%
Money market		0.55	%		0.63	%		0.72	%		1.29	%		1.67	%
Foreign office		0.43	%		0.54	%		0.54	%		0.95	%		1.37	%
Other time		3.24	%		3.48	%		3.62	%		3.62	%		3.31	%
Certificates - $100,000 and over		2.56	%		2.80	%		3.04	%		3.39	%		2.97	%
Other		0.19	%		0.19	%		0.23	%		0.64	%		1.83	%
Federal funds purchased		0.15	%		0.18	%		0.30	%		0.71	%		1.78	%
Other short-term borrowings		0.32	%		0.61	%		1.00	%		1.87	%		2.46	%
Long-term debt		2.67	%		2.79	%		3.36	%		4.13	%		3.63	%
Total interest-bearing liabilities		1.51	%		1.67	%		1.89	%		2.28	%		2.25	%
Ratios:
Net interest margin (taxable equivalent)		3.43	%		3.26	%		3.06	%		3.46	%		4.24	%
Net interest rate spread (taxable equivalent)		3.10	%		2.95	%		2.74	%		3.16	%		3.91	%
Interest-bearing liabilities to interest-earning assets		78.02	%		81.17	%		83.17	%		86.74	%		85.74	%

26

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	September 2009		June 2009		March 2009		December 2008		September 2008
Average Loans and Leases
Commercial:
Commercial loans	$	27,400	$	28,027	$	28,949	$	30,227	$	28,284
Commercial mortgage loans		12,269		12,463		12,508		13,189		13,257
Commercial construction loans		4,337		4,672		4,987		5,990		6,110
Commercial leases		3,522		3,512		3,564		3,610		3,641
Subtotal - commercial		47,528		48,674		50,008		53,016		51,292
Consumer:
Residential mortgage loans		8,355		8,713		9,195		9,335		9,681
Home equity		12,452		12,636		12,763		12,677		12,534
Automobile loans		8,871		8,692		8,687		8,428		8,303
Credit card		1,955		1,863		1,825		1,748		1,720
Other consumer loans and leases		899		995		1,083		1,165		1,165
Subtotal - consumer		32,532		32,899		33,553		33,353		33,403
Total average loans and leases (excluding held for sale)	$	80,060	$	81,573	$	83,561	$	86,369	$	84,695
Average loans held for sale		2,828		3,422		2,268		1,057		1,077
End of Period Loans and Leases
Commercial:
Commercial loans	$	26,175	$	28,409	$	28,617	$	29,197	$	29,424
Commercial mortgage loans		12,105		12,407		12,560		12,502		13,355
Commercial construction loans		4,147		4,491		4,745		5,114		6,002
Commercial leases		3,584		3,532		3,521		3,666		3,642
Subtotal - commercial		46,011		48,839		49,443		50,479		52,423
Consumer:
Residential mortgage loans		8,229		8,489		8,875		9,385		9,351
Home equity		12,377		12,511		12,710		12,752		12,599
Automobile loans		8,972		8,741		8,688		8,594		8,306
Credit card		1,973		1,914		1,816		1,811		1,688
Other consumer loans and leases		857		935		1,037		1,122		1,131
Subtotal - consumer		32,408		32,590		33,126		33,664		33,075
Total portfolio loans and leases	$	78,419	$	81,429	$	82,569	$	84,143	$	85,498
Core business activity		1,775		2,989		2,199		979		1,000
Portfolio management activity		288		352		403		473		—
Total loans held for sale		2,063		3,341		2,602		1,452		1,000
Operating lease equipment		486		474		470		463		369
Loans and Leases Serviced for Others (a):
Commercial loans		1,367		1,706		2,091		2,518		3,016
Commercial mortgage loans		256		264		297		312		290
Commercial construction loans		196		216		258		264		271
Commercial leases		149		152		154		170		167
Residential mortgage loans		46,837		43,527		41,524		40,378		39,777
Home equity		266		267		272		273		274
Automobile loans		1,394		1,569		1,754		1,946		2,138
Credit card		15		15		16		17		18
Other consumer loans and leases		7		7		7		7		8
Total loans and leases serviced for others		50,487		47,723		46,373		45,885		45,959
Total loans and leases serviced	$	131,455	$	132,967	$	132,014	$	131,943	$	132,826

(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities

27

Fifth Third Bancorp and Subsidiaries

Regulatory Capital (a)

$ in millions

(unaudited)

	As of
	September 2009			June 2009			March 2009			December 2008			September 2008
Tier I capital:
Shareholders’ equity	$	13,688		$	13,700		$	12,102		$	12,077		$	10,696
Goodwill and certain other intangibles		(2,559	)		(2,564	)		(2,785	)		(2,801	)		(3,729	)
Unrealized (gains) losses		(285	)		(152	)		(151	)		(109	)		54
Qualifying trust preferred securities		2,763			2,763			2,763			2,763			2,763
Other		(33	)		(5	)		(5	)		(6	)		(50	)
Total tier I capital	$	13,574		$	13,742		$	11,924		$	11,924		$	9,734
Total risk-based capital:
Tier I capital	$	13,574		$	13,742		$	11,924		$	11,924		$	9,734
Qualifying allowance for credit losses		1,309			1,350			1,375			1,413			1,415
Qualifying subordinated notes		3,044			2,980			3,203			3,309			2,824
Total risk-based capital	$	17,927		$	18,072		$	16,502		$	16,646		$	13,973
Risk-weighted assets (b)	$	102,575		$	106,538		$	109,087		$	112,622		$	113,601
Ratios:
Average shareholders’ equity to average assets		12.24	%		10.78	%		10.18	%		8.65	%		9.45	%
Regulatory capital:
Fifth Third Bancorp
Tier I capital		13.23	%		12.90	%		10.93	%		10.59	%		8.57	%
Total risk-based capital		17.48	%		16.96	%		15.13	%		14.78	%		12.30	%
Tier I leverage		12.34	%		12.17	%		10.29	%		10.27	%		8.77	%
Tier I common equity		7.03	%		6.94	%		4.50	%		4.37	%		5.18	%
Fifth Third Bank (c)
Tier I capital		13.46	%		11.53	%		8.83	%		8.13	%		8.63	%
Total risk-based capital		15.52	%		14.38	%		11.67	%		10.92	%		11.35	%
Tier I leverage		12.00	%		9.89	%		7.46	%		7.03	%		7.64	%
Tier I common equity		13.46	%		11.69	%		8.83	%		7.53	%		8.63	%
Fifth Third Bank (Michigan) (c)
Tier I capital		—			10.13	%		10.62	%		11.06	%		9.65	%
Total risk-based capital		—			12.07	%		12.53	%		12.95	%		11.50	%
Tier I leverage		—			9.45	%		10.06	%		10.45	%		10.04	%
Tier I common equity		—			9.18	%		9.61	%		10.09	%		8.73	%
Fifth Third Bank N.A. (c)
Tier I capital		—			12.83	%		13.10	%		16.33	%		14.59	%
Total risk-based capital		—			14.12	%		14.37	%		17.59	%		15.35	%
Tier I leverage		—			10.63	%		11.52	%		14.11	%		14.17	%
Tier I common equity		—			12.83	%		13.10	%		16.33	%		14.59	%

(a) Current period regulatory capital data and ratios are estimated

(b) Under the banking agencies risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied be the associated risk weight of the category. The resulting weighted values are added together resulting in the Bancorp’s total risk weighted assets.

(c) As of September 30, 2009, the Fifth Third Bank (Michigan) and Fifth Third Bank N.A. charters were merged into the Fifth Third Bank charter.

28

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	September 2009			June 2009			March 2009			December 2008			September 2008
Average loans and leases (excluding held for sale):
Commercial loans	$	27,400		$	28,027		$	28,949		$	30,227		$	28,284
Commercial mortgage loans		12,269			12,463			12,508			13,189			13,257
Commercial construction loans		4,337			4,672			4,987			5,990			6,110
Commercial leases		3,522			3,512			3,564			3,610			3,641
Residential mortgage loans		8,355			8,713			9,195			9,335			9,681
Home equity		12,452			12,636			12,763			12,677			12,534
Automobile loans		8,871			8,692			8,687			8,428			8,303
Credit card		1,955			1,863			1,825			1,748			1,720
Other consumer loans and leases		899			995			1,083			1,165			1,165
Total average loans and leases (excluding held for sale)	$	80,060		$	81,573		$	83,561		$	86,369		$	84,695
Losses charged off:
Commercial loans	$	(271	)	$	(185	)	$	(116	)	$	(430	)	$	(89	)
Commercial mortgage loans		(124	)		(89	)		(79	)		(468	)		(94	)
Commercial construction loans		(130	)		(79	)		(78	)		(541	)		(88	)
Commercial leases		—			(1	)		—			—			—
Residential mortgage loans		(92	)		(113	)		(75	)		(68	)		(77	)
Home equity		(82	)		(90	)		(73	)		(55	)		(58	)
Automobile loans		(44	)		(48	)		(56	)		(50	)		(40	)
Credit card		(47	)		(47	)		(38	)		(32	)		(25	)
Other consumer loans and leases		(6	)		(6	)		(6	)		(8	)		(10	)
Total losses		(796	)		(658	)		(521	)		(1,652	)		(481	)
Recoveries of losses previously charged off:
Commercial loans		15			8			13			8			4
Commercial mortgage loans		6			4			2			3			—
Commercial construction loans		4			—			2			2			—
Commercial leases		—			—			—			—			—
Residential mortgage loans		—			1			—			—			—
Home equity		2			2			1			1			3
Automobile loans		10			12			10			7			8
Credit card		2			2			2			2			1
Other consumer loans and leases		1			3			1			2			2
Total recoveries		40			32			31			25			18
Net losses charged off:
Commercial loans		(256	)		(177	)		(103	)		(422	)		(85	)
Commercial mortgage loans		(118	)		(85	)		(77	)		(465	)		(94	)
Commercial construction loans		(126	)		(79	)		(76	)		(539	)		(88	)
Commercial leases		—			(1	)		—			—			—
Residential mortgage loans		(92	)		(112	)		(75	)		(68	)		(77	)
Home equity		(80	)		(88	)		(72	)		(54	)		(55	)
Automobile loans		(34	)		(36	)		(46	)		(43	)		(32	)
Credit card		(45	)		(45	)		(36	)		(30	)		(24	)
Other consumer loans and leases		(5	)		(3	)		(5	)		(6	)		(8	)
Total net losses charged off	$	(756	)	$	(626	)	$	(490	)	$	(1,627	)	$	(463	)
Net charge-off Ratios:
Commercial loans		3.70	%		2.53	%		1.45	%		5.55	%		1.19	%
Commercial mortgage loans		3.82	%		2.73	%		2.50	%		14.05	%		2.82	%
Commercial construction loans		11.56	%		6.76	%		6.21	%		35.81	%		5.71	%
Commercial leases		(0.04	%)		0.02	%		—			(0.04	%)		(0.03	%)
Residential mortgage loans		4.38	%		5.17	%		3.30	%		2.90	%		3.16	%
Home equity		2.54	%		2.81	%		2.28	%		1.68	%		1.77	%
Automobile loans		1.52	%		1.65	%		2.17	%		2.00	%		1.51	%
Credit card		9.08	%		9.64	%		7.92	%		6.82	%		5.45	%
Other consumer loans and leases		2.62	%		1.95	%		1.63	%		2.41	%		2.84	%
Total net charge-off ratio		3.75	%		3.08	%		2.38	%		7.50	%		2.17	%

29

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	September 2009			June 2009			March 2009			December 2008			September 2008
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	3,485		$	3,070		$	2,787		$	2,058		$	1,580
Total net losses charged off		(756	)		(626	)		(490	)		(1,627	)		(463	)
Provision for loan and lease losses		952			1,041			773			2,356			941
Allowance for loan and lease losses, ending	$	3,681		$	3,485		$	3,070		$	2,787		$	2,058
Reserve for unfunded commitments, beginning	$	239		$	231		$	195		$	132		$	115
Provision for unfunded commitments		45			8			36			63			17
Acquisitions		—			—			—			—			—
Reserve for unfunded commitments, ending	$	284		$	239		$	231		$	195		$	132
Components of allowance for credit losses:
Allowance for loan and lease losses	$	3,681		$	3,485		$	3,070		$	2,787		$	2,058
Reserve for unfunded commitments		284			239			231			195			132
Total allowance for credit losses	$	3,965		$	3,724		$	3,301		$	2,982		$	2,190
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial loans	$	752		$	603		$	667		$	541		$	550
Commercial mortgage loans		912			760			692			482			724
Commercial construction loans		697			684			551			362			636
Commercial leases		51			51			27			21			23
Residential mortgage loans		267			262			265			259			216
Home equity		24			26			25			26			27
Automobile loans		1			1			2			5			3
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual portfolio loans and leases		2,704			2,387			2,229			1,696			2,179
Restructured loans and leases - commercial (non accrual)		18			12			—			—			—
Restructured loans and leases - consumer (non accrual)		225			188			167			80			50
Total nonperforming portfolio loans and leases		2,947			2,587			2,396			1,776			2,229
Repossessed personal property		22			21			25			24			24
Other real estate owned		251			232			227			206			198
Total nonperforming assets (a)		3,220			2,840			2,648			2,006			2,451
Nonaccrual loans held for sale		286			352			403			473			—
Restructured loans - commercial (non accrual) held for sale		2			—			—			—			—
Total nonperforming assets including loans held for sale	$	3,508		$	3,192		$	3,051		$	2,479		$	2,451
Restructured loans and leases (accrual)	$	1,280		$	1,074		$	615		$	494		$	377
Ninety days past due loans and leases:
Commercial loans	$	256		$	142		$	131		$	76		$	109
Commercial mortgage loans		184			131			124			136			157
Commercial construction loans		168			60			49			74			84
Commercial leases		4			5			6			4			3
Residential mortgage loans		198			242			231			198			185
Home equity		104			99			105			96			72
Automobile loans		17			18			18			21			16
Credit card		60			65			68			56			44
Other consumer loans and leases		1			—			1			1			1
Total ninety days past due loans and leases	$	992		$	762		$	733		$	662		$	671
Ratios
Net losses charged off as a percent of average loans and leases		3.75	%		3.08	%		2.38	%		7.50	%		2.17	%
Allowance for loan and lease losses:
As a percent of loans and leases		4.69	%		4.28	%		3.72	%		3.31	%		2.41	%
As a percent of nonperforming loans and leases (a)		125	%		135	%		128	%		157	%		92	%
As a percent of nonperforming assets (a)		114	%		123	%		116	%		139	%		84	%
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		3.75	%		3.17	%		2.89	%		2.11	%		2.60	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		4.09	%		3.48	%		3.20	%		2.38	%		2.86	%
Nonperforming assets as a percent of total loans, leases and other assets, including other real estate owned		4.34	%		3.75	%		3.57	%		2.89	%		2.83	%

(a) Does not include nonaccrual loans held for sale

30

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

	For the Three Months Ended
	September 2009		June 2009		March 2009		December 2008		September 2008
Total shareholders’ equity	13,688		13,700		12,102		12,077		10,696
Less:
Preferred stock	(3,599	)	(3,588	)	(4,252	)	(4,241	)	(1,082	)
Goodwill	(2,417	)	(2,417	)	(2,623	)	(2,624	)	(3,592	)
Intangible assets	(119	)	(133	)	(154	)	(168	)	(188	)
Tangible common equity, including unrealized gains / losses (a)	7,553		7,562		5,073		5,044		5,834
Less: Accumulated other comprehensive income / loss	(285	)	(152	)	(151	)	(98	)	60
Tangible common equity, excluding unrealized gains / losses (b)	7,268		7,410		4,922		4,946		5,894
Add back: Preferred stock	3,599		3,588		4,252		4,241		1,082
Tangible equity (c)	10,867		10,998		9,174		9,187		6,976
Total assets (d)	110,740		115,984		119,313		119,764		116,294
Less:
Goodwill	(2,417	)	(2,417	)	(2,623	)	(2,624	)	(3,592	)
Intangible assets	(119	)	(133	)	(154	)	(168	)	(188	)
Tangible assets, including unrealized gains / losses (e)	108,204		113,434		116,536		116,972		112,514
Less: Accumulated other comprehensive income / loss, before tax	(438	)	(234	)	(233	)	(151	)	92
Tangible assets, excluding unrealized gains / losses (f)	107,766		113,200		116,303		116,821		112,606
Common shares outstanding (g)	795		795		577		577		577
Risk-weighted assets, determined in accordance with prescribed regulatory requirements (h)	102,575		106,538		109,087		112,622		113,601
Ratios
Tangible equity (c) / (f)	10.08	%	9.72	%	7.89	%	7.86	%	6.19	%
Tangible common equity (excluding unrealized gains/losses) (b) / (f)	6.74	%	6.55	%	4.23	%	4.23	%	5.23	%
Tangible common equity (including unrealized gains/losses) (a) / (e)	6.98	%	6.67	%	4.35	%	4.31	%	5.19	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (b) / (h)	7.09	%	6.96	%	4.51	%	4.39	%	5.19	%
Tangible book value per share (a) / (g)	9.50		9.51		8.79		8.74		10.10

31

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended September 30, 2009 ($ in millions)	Commercial Banking		Branch Banking		Consumer Lending		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	351		396		114		41		(28	)	874
Provision for loan and lease losses	(447	)	(149	)	(142	)	(16	)	(198	)	(952	)
Net interest income after provision for loan and lease losses	(96	)	247		(28	)	25		(226	)	(78	)
Total noninterest income	115		228		147		84		277		851
Total noninterest expense	(245	)	(323	)	(129	)	(91	)	(88	)	(876	)
Net income (loss) before taxes	(226	)	152		(10	)	18		(37	)	(103	)
Applicable income taxes (a)	102		(53	)	3		(6	)	(40	)	6
Net income (loss)	(124	)	99		(7	)	12		(77	)	(97	)
Dividends on preferred stock	—		—		—		—		62		62
Net income (loss) available to common shareholders	(124	)	99		(7	)	12		(139	)	(159	)
For the three months ended June 30, 2009	Commercial Banking (b)		Branch Banking		Consumer Lending (b)		Investment Advisors		Other/ Eliminations (b)		Total
Net interest income (a)	339		395		136		39		(73	)	836
Provision for loan and lease losses	(289	)	(149	)	(170	)	(18	)	(415	)	(1,041	)
Net interest income after provision for loan and lease losses	50		246		(34	)	21		(488	)	(205	)
Total noninterest income	165		228		191		82		1,917		2,583
Total noninterest expense	(263	)	(332	)	(167	)	(88	)	(171	)	(1,021	)
Net income (loss) before taxes	(48	)	142		(10	)	15		1,258		1,357
Applicable income taxes (a)	46		(50	)	4		(5	)	(470	)	(475	)
Net income (loss)	(2	)	92		(6	)	10		788		882
Dividends on preferred stock	—		—		—		—		26		26
Net income (loss) available to common shareholders	(2	)	92		(6	)	10		762		856
For the three months ended March 31, 2009	Commercial Banking (b)		Branch Banking		Consumer Lending (b)		Investment Advisors		Other/ Eliminations (b)		Total
Net interest income (a)	335		380		136		37		(107	)	781
Provision for loan and lease losses	(218	)	(128	)	(134	)	(9	)	(284	)	(773	)
Net interest income after provision for loan and lease losses	117		252		2		28		(391	)	8
Total noninterest income	185		203		158		83		68		697
Total noninterest expense	(239	)	(325	)	(129	)	(83	)	(186	)	(962	)
Net income (loss) before taxes	63		130		31		28		(509	)	(257	)
Applicable income taxes (a)	6		(46	)	(11	)	(10	)	368		307
Net income (loss)	69		84		20		18		(141	)	50
Dividends on preferred stock	—		—		—		—		76		76
Net income (loss) available to common shareholders	69		84		20		18		(217	)	(26	)
For the three months ended December 31, 2008	Commercial Banking (b)		Branch Banking		Consumer Lending (b)		Investment Advisors		Other/ Eliminations (b)		Total
Net interest income (a)	390		419		128		44		(83	)	898
Provision for loan and lease losses	(1,347	)	(125	)	(125	)	(28	)	(731	)	(2,356	)
Net interest income after provision for loan and lease losses	(957	)	294		3		16		(814	)	(1,458	)
Total noninterest income	182		221		77		87		75		642
Total noninterest expense	(1,000	)	(324	)	(349	)	(91	)	(258	)	(2,022	)
Net income (loss) before taxes	(1,775	)	191		(269	)	12		(997	)	(2,838	)
Applicable income taxes (a)	651		(67	)	95		(4	)	21		696
Net income (loss)	(1,124	)	124		(174	)	8		(976	)	(2,142	)
Dividends on preferred stock	—		—		—		—		42		42
Net income (loss) available to common shareholders	(1,124	)	124		(174	)	8		(1,018	)	(2,184	)
For the three months ended September 30, 2008	Commercial Banking (b)		Branch Banking		Consumer Lending (b)		Investment Advisors		Other/ Eliminations (b)		Total
Net interest income (a)	492		477		136		50		(87	)	1,068
Provision for loan and lease losses	(236	)	(87	)	(128	)	(11	)	(479	)	(941	)
Net interest income after provision for loan and lease losses	256		390		8		39		(566	)	127
Total noninterest income	168		238		75		96		140		717
Total noninterest expense	(228	)	(313	)	(103	)	(91	)	(232	)	(967	)
Net income (loss) before taxes	196		315		(20	)	44		(658	)	(123	)
Applicable income taxes (a)	(44	)	(111	)	7		(15	)	230		67
Net income (loss)	152		204		(13	)	29		(428	)	(56	)
Dividends on preferred stock	—		—		—		—		25		25
Net income (loss) available to common shareholders	152		204		(13	)	29		(453	)	(81	)

(a) Includes taxable equivalent adjustments of $5 million for the three months ended September 30, 2009, June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008

(b) Prior period segment financial information has been restated to reflect the sale of the Processing Business on June 30, 2009 and the elimination of the processing solutions segment. Financial information for the processing businesses has been reclassified under General Corporate/Other for all periods presented. The retained retail credit card and commercial multi-card service business are included in Consumer Lending and Commercial Banking segments, respectively, for all periods presented.

32