Fifth Third Bancorp (FITB) 10-Q 6 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Financial Position

Statement Of Financial Position Unclassified - Deposit Based Operations (USD $)
In Millions	Sep. 30, 2009		Dec. 31, 2008		Sep. 30, 2008
Assets
Cash and due from banks	$2,130		$2,739		$2,774
Available-for-sale and other securities	15,682	[2]	12,728	[2]	13,177	[2]
Held-to-maturity securities	356	[4]	360	[4]	360	[4]
Trading securities	1,079		1,191		915
Other short-term investments	1,126		3,578		229
Loans held for sale	2,063	[5]	1,452	[5]	1,000	[5]
Portfolio loans and leases:
Commercial loans	26,175		29,197		29,424
Commercial mortgage loans	12,105		12,502		13,355
Commercial construction loans	4,147		5,114		6,002
Commercial leases	3,584		3,666		3,642
Residential mortgage loans	8,229	[6]	9,385	[6]	9,351	[6]
Home equity	12,377		12,752		12,599
Automobile loans	8,972		8,594		8,306
Credit card	1,973		1,811		1,688
Other consumer loans and leases	857		1,122		1,131
Portfolio loans and leases	78,419		84,143		85,498
Allowance for loan and lease losses	(3,681)		(2,787)		(2,058)
Portfolio loans and leases, net	74,738		81,356		83,440
Bank premises and equipment	2,426		2,494		2,470
Operating lease equipment	486		463		369
Goodwill	2,417		2,624		3,592
Intangible assets	119		168		188
Servicing rights	626		499		687
Other assets	7,492		10,112		7,093
Total Assets	110,740		119,764		116,294
Deposits:
Demand	17,666		15,287		14,241
Interest checking	15,168		14,222		13,251
Savings	17,098		16,063		15,955
Money market	4,378		4,689		5,352
Other time	13,725		14,350		11,778
Certificates - $100,000 and over	8,962		11,851		13,173
Foreign office and other	2,361		2,151		3,710
Total deposits	79,358		78,613		77,460
Federal funds purchased	433		287		2,521
Other short-term borrowings	3,674		9,959		8,791
Accrued taxes, interest and expenses	878		2,029		1,757
Other liabilities	2,547		3,214		2,122
Long-term debt	10,162		13,585		12,947
Total Liabilities	97,052		107,687		105,598
Shareholders' Equity
Common stock	1,779	[3]	1,295	[3]	1,295	[3]
Preferred stock	3,599	[1]	4,241	[1]	1,082	[1]
Capital surplus	1,729	[7]	848	[7]	597	[7]
Retained earnings	6,496		5,824		8,013
Accumulated other comprehensive income	285		98		(60)
Treasury stock	(200)		(229)		(231)
Total Shareholders' Equity	13,688		12,077		10,696
Total Liabilities and Shareholders' Equity	$110,740		$119,764		$116,294
[1]317,680 shares of undesignated no par value preferred stock are authorized of which none had been issued; 5.0% cumulative Series F perpetual preferred stock with a $25,000 liquidation preference: 136,320 issued and outstanding at September 30, 2009; 8.5% non-cumulative Series G convertible (into 2,159.8272 common shares) perpetual preferred stock with a $25,000 liquidation preference: 46,000 authorized, 16,451 issued and outstanding at September 30, 2009; 7,250 shares of 8.0% cumulative Series D convertible (at $23.5399 per share) perpetual preferred stock with a stated value of $1,000 per share, which were issued and outstanding at September 30, 2008 and repurchased for $22 million and retired on November 26, 2008; 2,000 shares of 8.0% cumulative Series E perpetual preferred stock with a stated value of $1,000 per share, which were issued and outstanding at September 30, 2008 and repurchased for $6 million and retired on November 26, 2008.
[2]Amortized cost: September 30, 2009 - $15,260, December 31, 2008 - $12,550 and September 30, 2008 - $13,249.
[3]Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at September 30, 2009 - 795,316,187 (excludes 6,188,001 treasury shares), December 31, 2008 - 577,386,612 (excludes 6,040,492 treasury shares) and September 30, 2008 - 577,486,544 (excludes 5,912,013 treasury shares).
[4]Fair values: September 30, 2009 - $356, December 31, 2008 - $360 and September 30, 2008 - $360.
[5]Includes $1,575, $881 and $844 of residential mortgage loans held for sale measured at fair value at September 30, 2009, December 31, 2008 and September 30, 2008, respectively.
[6]Includes $16, $7 and $5 of residential mortgage loans measured at fair value at September 30, 2009, December 31, 2008 and September 30, 2008, respectively.
[7]Includes ten-year warrants initially valued at $239 to purchase up to 43,617,747 shares of common stock, no par value, related to Series F preferred stock, at an initial exercise price of $11.72 per share.

Statement Of Income Interest Ba

Statement Of Income Interest Based Revenue (USD $)
In Millions, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Interest Income
Interest and fees on loans and leases	$986	$1,378	$2,977	$3,718
Interest on securities	183	165	547	472
Interest on other short-term investments	0	5	1	12
Total interest income	1,169	1,548	3,525	4,202
Interest Expense
Interest on deposits	228	291	759	967
Interest on short-term borrowings	4	64	41	193
Interest on long-term debt	68	130	249	421
Total interest expense	300	485	1,049	1,581
Net Interest Income	869	1,063	2,476	2,621
Provision for loan and lease losses	952	941	2,766	2,203
Net Interest Income (Loss) After Provision for Loan and Lease Losses	(83)	122	(290)	418
Noninterest Income
Service charges on deposits	164	172	472	478
Mortgage banking net revenue	140	45	421	228
Corporate banking revenue	86	104	301	323
Investment advisory revenue	74	90	222	275
Card and processing revenue	74	235	539	682
Gain on sale of processing business	(6)	0	1,758	0
Other noninterest income	311	112	372	339
Securities gains (losses), net	8	(63)	(12)	(45)
Securities gains, net - non-qualifying hedges on mortgage servicing rights	0	22	57	24
Total noninterest income	851	717	4,130	2,304
Noninterest Expense
Salaries, wages and incentives	335	321	1,008	1,000
Employee benefits	83	72	241	216
Net occupancy expense	75	77	233	222
Technology and communications	43	47	133	142
Equipment expense	30	34	92	95
Card and processing expense	25	70	167	203
Other noninterest expense	285	346	985	665
Total noninterest expense	876	967	2,859	2,543
Income (Loss) Before Income Taxes	(108)	(128)	981	179
Applicable income tax expense (benefit)	(11)	(72)	146	150
Net Income (Loss)	(97)	(56)	835	29
Dividends on preferred stock	62	25	165	26
Net Income (Loss) Available to Common Shareholders	($159)	($81)	$670	$3
Earnings Per Share	-0.2	-0.14	$1	0.01
Earnings Per Diluted Share	-0.2	-0.14	0.91	0.01

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions	9 Months Ended Sep. 30, 2009		9 Months Ended Sep. 30, 2008
Total Shareholders' Equity, beginning	$12,077		$9,161
Net income	835		29
Change in unrealized gains and (losses):
Available-for-sale securities	159	[1]	47	[1]
Qualifying cash flow hedges	20		15
Change in accumulated other comprehensive income related to employee benefit plans	8		4
Comprehensive income	1,022		95
Cash dividends declared:
Common stock (2009 - $.03 per share and 2008 - $.74 per share)	(21)		(408)
Preferred stock	(168)		(26)
Issuance of common stock	986		0
Issuance of preferred stock, Series G	0		1,072
Exchange of preferred stock, Series G	(234)		0
Stock-based awards exercised, including treasury shares issued	1		0
Stock-based compensation expense	34		43
Loans repaid related to the exercise of stock-based awards, net	0		2
Change in corporate tax benefit related to stock-based compensation	(30)		(15)
Shares issued in an acquisition	0		770
Reversal of OTTI	24	[1]	0	[1]
Other	(3)		2
Total Shareholders' Equity, ending	$13,688		$10,696
[1]Includes the after-tax impact of the reversal of other than temporary impairment (OTTI) totaling $24 million in the second quarter of 2009.

1_Statement Of Shareholders Equ

Statement Of Shareholders Equity And Other Comprehensive Income (Parenthetical) (USD $)
	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Common stock, per share	0.03	0.74

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect Deposit Based Operations (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Operating Activities
Net income	$835	$29
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan and lease losses	2,766	2,203
Depreciation, amortization and accretion	258	268
Stock-based compensation expense	34	43
Provision for deferred income taxes	154	84
Realized securities gains	(27)	(34)
Realized securities gains - non-qualifying hedges on mortgage servicing rights	(64)	(24)
Realized securities losses	39	79
Realized securities losses - non-qualifying hedges on mortgage servicing rights	7	0
Provision (recovery) for mortgage servicing rights	56	(1)
Net losses (gains) on sales of loans	7	(56)
Capitalized mortgage servicing rights	(305)	(155)
Loss on recalculation of the timing of tax benefits on leveraged leases	0	130
Loans originated for sale, net of repayments	(17,447)	(9,602)
Proceeds from sales of loans held for sale	16,815	9,379
Decrease in trading securities	273	406
Gain on sale of processing business, net of tax	(1,052)	0
Decrease in other assets	1,288	790
Decrease in accrued taxes, interest and expenses	(1,115)	(701)
(Decrease) increase in other liabilities	(51)	345
Net Cash Provided by Operating Activities	2,471	3,183
Investing Activities
Proceeds from sales of available-for-sale securities	3,624	4,176
Proceeds from calls, paydowns and maturities of available-for-sale securities	92,032	49,903
Purchases of available-for-sale securities	(98,325)	(56,045)
Proceeds from calls, paydowns and maturities of held-to-maturity securities	3	3
Purchases of held-to-maturity securities	0	(10)
Decrease in other short-term investments	2,452	393
Decrease (increase) in loans and leases	4,631	(5,268)
Proceeds from sale of loans	320	4,439
Increase in operating lease equipment	(52)	(39)
Purchases of bank premises and equipment	(157)	(324)
Proceeds from disposal of bank premises and equipment	28	30
Proceeds from sale of processing business	562	0
Net cash paid in acquisitions	(16)	(154)
Net Cash Provided by (Used In) Investing Activities	5,102	(2,896)
Financing Activities
Increase (decrease) in core deposits	3,346	(6,434)
(Decrease) increase in certificates - $100,000 and over, including other foreign office	(2,898)	4,606
Increase (decrease) in federal funds purchased	146	(2,117)
(Decrease) increase in other short-term borrowings	(6,285)	3,311
Proceeds from issuance of long-term debt	4	2,151
Repayment of long-term debt	(3,058)	(2,190)
Payment of cash dividends	(188)	(577)
Exercise of stock-based awards, net	0	2
Issuance of common stock	986	0
Issuance of preferred stock	0	1,072
Exchange of preferred stock	(234)	0
Excess tax benefit related to stock-based compensation	0	1
Other	(1)	2
Net Cash Used In Financing Activities	(8,182)	(173)
(Decrease) Increase in Cash and Due from Banks	(609)	114
Cash and Due from Banks at Beginning of Period	2,739	2,660
Cash and Due from Banks at End of Period	2,130	2,774
Cash Payments
Interest	1,127	1,580
Income taxes	$97	$408

1.Basis of Presentation

1.Basis of Presentation
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
1.Basis of Presentation	1. Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of the Bancorp and its majority-owned subsidiaries and variable interest entities (VIEs) in which the Bancorp has been determined to be the primary beneficiary. Other entities, including certain joint ventures, in which the Bancorp has the ability to exercise significant influence over operating and financial policies of the investee, but upon which the Bancorp does not possess control, are accounted for by the equity method and not consolidated. Those entities in which the Bancorp does not have the ability to exercise significant influence are generally carried at the lower of cost or fair value. Intercompany transactions and balances have been eliminated. The Bancorp has evaluated subsequent events through November6, 2009, the date of issuance, to determine if either recognition or disclosure of significant events or transactions is required. In the opinion of management, the unaudited Condensed Consolidated Financial Statements include all adjustments, which consist of normal recurring accruals, necessary to present fairly the financial position as of September30, 2009 and 2008, the results of operations for the three and nine months ended September30, 2009 and 2008, and the cash flows and changes in shareholders equity for the nine months ended September30, 2009 and 2008. In accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the rules and regulations of the United States Securities and Exchange Commission (SEC) for interim financial information, these statements do not include certain information and footnote disclosures required for complete annual financial statements and it is suggested that these condensed consolidated financial statements be read in conjunction with the latest annual financial statements. The results of operations for the three and nine months ended September30, 2009 and 2008 and the cash flows and changes in shareholders equity for the nine months ended September30, 2009 and 2008 are not necessarily indicative of the results to be expected for the full year. Financial information as of December31, 2008 has been derived from the annual audited Consolidated Financial Statements of the Bancorp. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain reclassifications have been made to prior periods Condensed Consolidated Financial Statements and related notes to conform to the current period presentation.

2.Supplemental Cash Flow Inform

2.Supplemental Cash Flow Information
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
2.Supplemental Cash Flow Information	2. Supplemental Cash Flow Information Noncash investing and financing activities are presented in the following table: NinemonthsendedSeptember30 ($ in millions) 2009 2008 Transfers of portfolio loans to held-for-sale loans $ 36 $ 59 Transfers of held-for-sale loans to portfolio loans 18 1,627 Transfers of held-for-sale loans to available-for-sale securities 430 Transfers of held-for-sale loans to trading securities 136 268 Transfers of portfolio loans to trading securities 92 Transfers of portfolio loans to other real estate owned 269 214 Noncash activities from acquisitions: Fair value of tangible assets acquired 7 4,321 Goodwill and identifiable intangible assets acquired 13 1,206 Liabilities assumed (4 ) (4,603 ) Common stock issued (770 )

3.Accounting and Reporting Deve

3.Accounting and Reporting Developments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
3.Accounting and Reporting Developments	3. Accounting and Reporting Developments FASB Accounting Standards Codification In June 2009, the FASB issued Accounting Standards Update (ASU) No.2009-01, Topic 105 - Generally Accepted Accounting Principles amendments based on Statement of Financial Accounting Standards No.168 - The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles. This Update amends the FASB Accounting Standards Codification (ASC) for the issuance of Statement No.168, which establishes the Codification as the single source of authoritative U.S. GAAP recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative U.S. GAAP for SEC registrants. ASU 2009-01 is effective for financial statements issued for interim and annual periods ending after September15, 2009. The Bancorp has incorporated the disclosure requirements of ASU 2009-01 by reference to the ASC in these Notes to the Bancorps Condensed Consolidated Financial Statements. Transfers of Financial Assets In June 2009, the FASB issued guidance amending the accounting for the transfers of financial assets. This amended guidance removes the concept of a qualifying special-purpose entity (QSPE), changes the requirements for derecognizing financial assets, and requires additional disclosures about transfers of financial assets and a transferors continuing involvement in transferred financial assets. The amended guidance is effective for interim and annual periods beginning after November15, 2009, with early adoption prohibited. The Bancorps implementation of the amended guidance will impact its structuring of securitizations and other transfers of financial assets, including guaranteed mortgage securitizations, in order to meet the amended sale treatment criteria under the new guidance. In addition, see the discussion below regarding amended guidance on the consolidation of variable interest entities and the impact on the Bancorps Condensed Consolidated Financial Statements for assets previously transferred to QSPEs. Consolidation of Variable Interest Entities In June 2009, the FASB issued guidance amending the accounting for the consolidation of variable interest entities (VIEs). This new guidance amends the methodology for determining the primary beneficiary (and therefore consolidator) of a VIE and will require such assessment to be performed on an ongoing basis. Under this new guidance, the primary beneficiary of a VIE is defined as the enterprise that has both (1)the power to direct activities of the VIE that most significantly impact the VIEs economic performance, and (2)the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. Upon transition, if the Bancorp is required to consolidate a VIE as a result of initial application of the amended guidance, the Bancorp must initially measure the assets, liabilities, and noncontrolling interest of the VIE at their carrying amounts, defined as the amounts at which the assets, liabilities, and noncontrolling interests would

4.Restriction on Cash and Divid

4.Restriction on Cash and Dividends
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
4.Restriction on Cash and Dividends	4. Restriction on Cash and Dividends The Federal Reserve Bank requires banks to maintain minimum average reserve balances. The amount of the reserve requirement was approximately $231 million, $406 million and $403 million at September30, 2009,December31, 2008 and September30, 2008, respectively. Dividends paid by the Bancorp are subject to various federal and state regulatory limitations. The dividends paid by the Bancorps state chartered bank are subject to regulations and limitations prescribed by the appropriate state authority. Under these provisions, due to the charter consolidation, the Bancorps state chartered bank would require regulatory approval to pay a dividend at September30, 2009, and the dividend limitations were $492 million and $2.2 billion at December31, 2008, and September30, 2008, respectively. See Note 13 for further information on the Bancorps charter consolidation. The Bancorps nonbank subsidiaries are also limited by certain federal and state statutory provisions and regulations covering the amount of dividends that may be paid in any given year. Based on retained earnings at September30, 2009,December31, 2008 and September30, 2008, the dividend limitation of the Bancorps nonbank subsidiaries under these provisions was $82 million, $50 million and $54 million, respectively. On December31, 2008, the Bancorp sold approximately $3.4 billion in senior preferred stock and related warrants to the U.S. Treasury under the terms of the CPP. The terms include restrictions on common stock dividends, which require the U.S. Treasurys consent to increase common stock dividends for a period of three years from the date of investment unless the preferred shares are redeemed in whole or the U.S. Treasury has transferred all of the preferred shares to a third party. For the Bancorp, approval from the U.S. Treasury will be required for common stock dividends in excess of $0.15 per share of common stock. In addition, no dividends can be declared or paid on the Bancorps common stock unless all accrued and unpaid dividends have been paid on the preferred shares.

5.Securities

5.Securities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
5.Securities	5. Securities The following tables provide the amortized cost and fair value for the major categories of the available-for-sale and held-to-maturity securities portfolios: As of September30, 2009 ($ in millions) Amortized Cost Unrealized Gains Unrealized Losses FairValue Available-for-sale and other: U.S. Treasury and Government agencies $ 367 1 $ 368 U.S. Government sponsored agencies 1,745 44 (17 ) 1,772 Obligations of states and political subdivisions 310 4 314 Agency mortgage-backed securities 9,115 370 (1 ) 9,484 Other bonds, notes and debentures 2,556 47 (35 ) 2,568 Other securities (a) 1,167 9 1,176 Total $ 15,260 475 (53 ) $ 15,682 Held-to-maturity: Obligations of states and political subdivisions $ 351 $ 351 Other debt securities 5 5 Total $ 356 $ 356 As of December31, 2008 ($ in millions) Amortized Cost Unrealized Gains Unrealized Losses FairValue Available-for-sale and other: U.S. Treasury and Government agencies $ 186 4 $ 190 U.S. Government sponsored agencies 1,651 83 (4 ) 1,730 Obligations of states and political subdivisions 323 4 (1 ) 326 Agency mortgage-backed securities 8,529 157 (5 ) 8,681 Other bonds, notes and debentures 613 (43 ) 570 Other securities (a) 1,248 (17 ) 1,231 Total $ 12,550 248 (70 ) $ 12,728 Held-to-maturity: Obligations of states and political subdivisions $ 355 $ 355 Other debt securities 5 5 Total $ 360 $ 360 As of September30, 2008 ($ in millions) Amortized Cost Unrealized Gains Unrealized Losses FairValue Available-for-sale and other: U.S. Treasury and Government agencies $ 187 1 $ 188 U.S. Government sponsored agencies 329 1 330 Obligations of states and political subdivisions 357 3 360 Agency mortgage-backed securities 9,773 76 (78 ) 9,771 Other bonds, notes and debentures 1,552 2 (69 ) 1,485 Other securities (a) 1,051 65 (73 ) 1,043 Total $ 13,249 148 (220 ) $ 13,177 Held-to-maturity: Obligations of states and political subdivisions $ 355 $ 355 Other debt securities 5 5 Total $ 360 $ 360 (a) Other securities consist of FHLB and Federal Reserve Bank restricted stock holdings of $551 million and $294 million, respectively, at September30, 2009, $545 million and $252 million, respectively, at December31, 2008 and $544 million and $252 million, respectively, at September30, 2008, that are carried at cost, and certain mutual fund holdings and equity security holdings. For the three and nine months end

6.Goodwill

6.Goodwill
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
6.Goodwill	6. Goodwill Business combinations entered into by the Bancorp typically include the acquisition of goodwill. Acquisition activity includes acquisitions in the respective period, in addition to purchase accounting adjustments related to previous acquisitions. Changes in the net carrying amount of goodwill by reporting segment for the nine months ended September30, 2009 and 2008 were as follows: ($ in millions) Commercial Banking Branch Banking Consumer Lending Processing Solutions(a) Investment Advisors Total Net carrying value as of December31, 2008: $ 614 1,657 205 148 2,624 Acquisition activity (1 ) (1 ) 7 5 Sale of Processing Business (212 ) (212 ) Net carrying value as of September30, 2009 613 1,656 148 2,417 Carrying value as of December31, 2007: 995 950 182 205 138 2,470 Acquisition activity 375 704 33 10 1,122 Carrying value as of September30, 2008 $ 1,370 1,654 215 205 148 3,592 (a) As a result of the Processing Business sale on June30, 2009, Processing Solutions is no longer a segment of the Bancorp. The Bancorp completed its annual goodwill impairment test as of September30, 2009 and determined that no impairment existed. The Bancorp evaluates goodwill at the segment level for impairment. In Step 1 of the goodwill impairment test, the Bancorp compared the fair value of each reporting unit to its carrying amount, including goodwill. To determine the fair value of a reporting unit, the Bancorp employed an income-based approach utilizing the reporting units forecasted cash flows (including a terminal value approach to estimate cash flows beyond the final year of the forecast) and the reporting units estimated cost of equity as the discount rate. The Bancorp believes that this discounted cash flows (DCF) method, using management projections for the respective reporting units and an appropriate risk adjusted discount rate, is most reflective of a market participants view of fair values given current market conditions. Under the DCF method, the forecasted cash flows were developed for each reporting unit by considering several key business drivers such as new business initiatives, client retention standards, market share changes, anticipated loan and deposit growth, forward interest rates, historical performance, and industry and economic trends, among other considerations. The long-term growth rate used in determining the terminal value of each reporting unit was estimated at 3% based on the Bancorps assessment of the minimum expected terminal growth rate of each reporting unit, as well as broader economic considerations such as gross domestic product and inflation. Discount rates were estimated based on a Capital Asset Pricing Model, which considers the risk-free interest rate, market risk premium, beta, and in some cases, unsystematic risk and size premium adjustments specific to a particular reporting unit. The discount rates used to develop the estimated fair va

7.Intangible Assets

7.Intangible Assets
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
7.Intangible Assets	7. Intangible Assets Intangible assets consist of servicing rights, core deposit intangibles, customer lists, non-compete agreements and cardholder relationships. Intangible assets, excluding servicing rights, are amortized on either a straight-line or an accelerated basis over their estimated useful lives and have an estimated weighted-average life at September30, 2009,December31, 2008 and September30, 2008 of 3.5 years, 2.8 years and 3.8 years, respectively. The Bancorp reviews intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. For more information on servicing rights, see Note 8. The details of the Bancorps intangible assets are shown in the following table. ($ in millions) GrossCarrying Amount Accumulated Amortization Valuation Allowance NetCarrying Amount As of September30, 2009: Mortgage servicing rights $ 1,919 (982 ) (312 ) 625 Other consumer and commercial servicing rights 12 (11 ) 1 Core deposit intangibles 487 (386 ) 101 Other 53 (35 ) 18 Total intangible assets $ 2,471 (1,414 ) (312 ) 745 As of December31, 2008: Mortgage servicing rights $ 1,614 (862 ) (256 ) 496 Other consumer and commercial servicing rights 13 (10 ) 3 Core deposit intangibles 487 (346 ) 141 Other 61 (34 ) 27 Total intangible assets $ 2,175 (1,252 ) (256 ) 667 As of September30, 2008: Mortgage servicing rights $ 1,573 (841 ) (48 ) 684 Other consumer and commercial servicing rights 14 (11 ) 3 Core deposit intangibles 485 (333 ) 152 Other 67 (31 ) 36 Total intangible assets $ 2,139 (1,216 ) (48 ) 875 As of September30, 2009, all of the Bancorps intangible assets were being amortized. Amortization expense recognized on intangible assets, including servicing rights, for the three months ended September30, 2009 and 2008 was $42 million and $39 million, respectively. For the nine months ended September30, 2009 and 2008, amortization expense was $162 million and $127 million, respectively. The Bancorp estimates amortization expense, including servicing rights, to be approximately $62 million for the remaining three months of 2009, $209 million in 2010, $152 million in 2011, $116 million in 2012 and $90 million in 2013.

8.Sales of Receivables and Serv

8.Sales of Receivables and Servicing Rights
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
8.Sales of Receivables and Servicing Rights	8. Sales of Receivables and Servicing Rights Residential Mortgage Loan Sales The Bancorp sold fixed and adjustable rate residential mortgage loans during 2009 and 2008. In those sales, the Bancorp obtained servicing responsibilities and the investors have no recourse to the Bancorps other assets for failure of debtors to pay when due. The Bancorp receives annual servicing fees based on a percentage of the outstanding balance. The Bancorp identifies classes of servicing assets based on financial asset type and interest rates. For the three months ended September30, 2009 and 2008, the Bancorp recognized gains of $96 million and $43 million, respectively, on residential mortgage loan sales of $5.7 billion and $2.1 billion, respectively. Additionally, the Bancorp recognized $50 million and $39 million in servicing fees on residential mortgages for the three months ended September30, 2009 and 2008, respectively. For the nine months ended September30, 2009 and 2008, the Bancorp recognized gains of $387 million and $214 million, respectively, on residential mortgage loan sales of $16.1 billion and $9.7 billion, respectively. Additionally, the Bancorp recognized $144 million and $122 million in servicing fees on residential mortgages for the nine months ended September30, 2009 and 2008, respectively. The gains on sales of residential mortgages and servicing fees related to residential mortgages are included in mortgage banking net revenue in the Condensed Consolidated Statements of Income. Refer to Note 11 for further information on residential mortgage loans sold with recourse. Automobile Loan Securitizations During the first quarter of 2008, the Bancorp sold $2.7 billion of automobile loans in three separate transactions, recognizing gains of $15 million, offset by $26 million in losses on related hedges. Each transaction isolated the related loans through the use of a securitization trust or a conduit, formed as QSPEs, to facilitate the securitization process. The QSPEs issued asset-backed securities with varying levels of credit subordination and payment priority. The investors in these securities have no credit recourse to the Bancorps other assets for failure of debtors to pay when due. During 2008 and the nine months ended September30 2009, required repurchases of previously transferred automobile loans from the QSPE were immaterial to the Bancorps Condensed Consolidated Financial Statements. In each of these sales, the Bancorp obtained servicing responsibilities, but no servicing asset or liability was recorded as the market based servicing fee was considered adequate compensation. For the three months ended September30, 2009 and 2008, the Bancorp recognized $2 million and $3 million, respectively, of servicing fees on these automobile loans. For the nine months ended September30, 2009 and 2008, the Bancorp recognized $6 million and $7 million, respectively, of servicing fees on these automobile loans. The servicing fees are included in other noninterest income in the Condensed Consolidated Statements of Income. As of September30, 2009, the Bancorp held retained interests in the QSPEs in the form of asset-backed securitie

9.Other Assets

9.Other Assets
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
9.Other Assets	9. Other Assets The following table provides the components of other assets included in the Condensed Consolidated Balance Sheets: ($ in millions) September30, 2009 December31, 2008 September30, 2008 Derivative instruments $ 2,151 3,225 $ 1,201 Bank owned life insurance 1,753 1,777 1,798 Partnership investments 1,141 1,121 1,107 Accounts receivable and drafts-in-process 807 1,188 934 Investment in FTPS Holding, LLC 522 Accrued interest receivable 434 478 486 Other real estate owned 274 231 214 Prepaid pension and other expenses 65 84 128 Deferred tax asset 31 301 Deposit with IRS 1,007 1,007 Income tax receivables 488 Other 314 212 218 Total $ 7,492 10,112 $ 7,093 The Bancorp incorporates the utilization of derivative instruments as part of its overall risk management strategy to reduce certain risks related to interest rate, prepayment and foreign currency volatility. The Bancorp also holds derivatives instruments for the benefit of its commercial customers. For further information on derivative instruments, see Note 10. The Bancorp purchases life insurance policies on the lives of certain directors, officers and employees and is the owner and beneficiary of the policies. The Bancorp invests in these policies, known as BOLI, to provide an efficient form of funding for long-term retirement and other employee benefits costs. Therefore, the Bancorps BOLI policies are intended to be long-term investments to provide funding for future payment of long-term liabilities. The Bancorp records these BOLI policies within other assets in the Condensed Consolidated Balance Sheets at each policys respective cash surrender value, with changes recognized in other noninterest income in the Condensed Consolidated Statements of Income. Certain BOLI policies have a stable value agreement through either a large, well-rated bank or multi-national insurance carrier that provides limited cash surrender value protection from declines in the value of each policys underlying investments. During 2008 and the first nine months of 2009, the value of the investments underlying one of the Bancorps BOLI policies continued to decline due to disruptions in the credit markets, widening of credit spreads between U.S. treasuries/swaps versus municipal bonds and bank trust preferred securities, and illiquidity in the asset-backed securities market. These factors caused the cash surrender value to decline further beyond the protection provided by the stable value agreement. As a result of exceeding the cash surrender value protection, the Bancorp recorded charges totaling $1 million and $10 million during the three and nine months ended September30, 2009, respectively, and $27 million and $181 million during the three and nine months ended September30, 2008, respectively, to reflect declines in the policys cash surrender value. The cash surrender value of this BOLI policy was $238 million at September30, 2009, $291 million at December31, 2008 and $32

10.Derivative Financial Instrum

10.Derivative Financial Instruments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
10.Derivative Financial Instruments	10. Derivative Financial Instruments The Bancorp maintains an overall risk management strategy that incorporates the use of derivative instruments to reduce certain risks related to interest rate, prepayment and foreign currency volatility. Additionally, the Bancorp holds derivative instruments for the benefit of its commercial customers. The Bancorp does not enter into derivative instruments for speculative purposes. The Bancorps interest rate risk management strategy involves modifying the repricing characteristics of certain financial instruments so that changes in interest rates do not adversely affect the Bancorps net interest margin and cash flows. Derivative instruments that the Bancorp may use as part of its interest rate risk management strategy include interest rate swaps, interest rate floors, interest rate caps, forward contracts, options and swaptions. Interest rate swap contracts are exchanges of interest payments, such as fixed-rate payments for floating-rate payments, based on a common notional amount and maturity date. Interest rate floors protect against declining rates, while interest rate caps protect against rising interest rates. Forward contracts are contracts in which the buyer agrees to purchase, and the seller agrees to make delivery of, a specific financial instrument at a predetermined price or yield. Options provide the purchaser with the right, but not the obligation, to purchase or sell a contracted item during a specified period at an agreed upon price. Swaptions are financial instruments granting the owner the right, but not the obligation, to enter into or cancel a swap. Prepayment volatility arises mostly from changes in fair value of the largely fixed-rate MSR portfolio, mortgage loans and mortgage-backed securities. The Bancorp may enter into various free-standing derivatives (principal-only swaps, swaptions, floors, options and interest rate swaps) to economically hedge prepayment volatility. Principal-only swaps are total return swaps based on changes in the value of the underlying mortgage principal-only trust. Foreign currency volatility occurs as the Bancorp enters into certain loans denominated in foreign currencies. Derivative instruments that the Bancorp may use to economically hedge these foreign denominated loans include foreign exchange swaps and forward contracts. The Bancorp also enters into derivative contracts (including foreign exchange contracts, commodity contracts and interest rate swaps, floors and caps) for the benefit of commercial customers. The Bancorp may economically hedge significant exposures related to these free-standing derivatives by entering into offsetting third-party contracts with approved, reputable counterparties with substantially matching terms and currencies. Credit risk arises from the possible inability of counterparties to meet the terms of their contracts. The Bancorps exposure is limited to the replacement value of the contracts rather than the notional, principal or contract amounts. The Bancorp minimizes the credit risk through credit approvals, limits, counterparty collateral and monitoring procedures. For the three and nine months ended Septe

11.Commitments, Contingent Liab

11.Commitments, Contingent Liabilities and Guarantees
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
11.Commitments, Contingent Liabilities and Guarantees	11. Commitments, Contingent Liabilities and Guarantees The Bancorp, in the normal course of business, enters into financial instruments and various agreements to meet the financing needs of its customers. The Bancorp also enters into certain transactions and agreements to manage its interest rate and prepayment risks, provide funding, equipment and locations for its operations and invest in its communities. These instruments and agreements involve, to varying degrees, elements of credit risk, counterparty risk and market risk in excess of the amounts recognized in the Bancorps Condensed Consolidated Balance Sheets. Creditworthiness for all instruments and agreements is evaluated on a case-by-case basis in accordance with the Bancorps credit policies. The Bancorps significant commitments, contingent liabilities and guarantees in excess of the amounts recognized in the Condensed Consolidated Balance Sheets are summarized as follows: Commitments The Bancorp has certain commitments to make future payments under contracts. The following table reflects a summary of significant commitments: ($ in millions) September30, 2009 December31, 2008 September31, 2008 Commitments to extend credit $ 42,250 49,391 50,230 Letters of credit (including standby letters of credit) 7,691 8,951 8,899 Forward contracts to sell mortgage loans 4,156 3,235 1,695 Noncancelable lease obligations 910 937 910 Capital commitments for private equity investments 83 79 71 Purchase obligations 60 81 87 Capital expenditures 37 68 83 Commitments to extend credit Commitments to extend credit are agreements to lend, typically having fixed expiration dates or other termination clauses that may require payment of a fee. Since many of the commitments to extend credit may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. The Bancorp is exposed to credit risk in the event of nonperformance for the amount of the contract. Fixed-rate commitments are also subject to market risk resulting from fluctuations in interest rates and the Bancorps exposure is limited to the replacement value of those commitments. As of September30, 2009,December31, 2008 and September30, 2008, the Bancorp had a reserve for unfunded commitments totaling $243 million, $195 million and $132 million, respectively, included in other liabilities in the Condensed Consolidated Balance Sheets. Letters of credit Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. At September30, 2009, approximately $2.7 billion of letters of credit expire within one year (including $44 million issued on behalf of commercial customers to facilitate trade payments in dollars and foreign currencies), $4.7 billion expire between one and five years and $317 million expire thereafter. Standby letters of credit are considered guarantees in accordance with U.S. GAAP. At September30, 2009,December31, 2008 and September30, 2008, the reserve rela

12.Legal and Regulatory Proceed

12.Legal and Regulatory Proceedings
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
12.Legal and Regulatory Proceedings	12. Legal and Regulatory Proceedings During April 2006, the Bancorp was added as a defendant in a consolidated antitrust class action lawsuit originally filed against Visa, MasterCard and several other major financial institutions in the United States District Court for the Eastern District of New York. The plaintiffs, merchants operating commercial businesses throughout the U.S. and trade associations, claim that the interchange fees charged by card-issuing banks are unreasonable and seek injunctive relief and unspecified damages. In addition to being a named defendant, the Bancorp is also subject to a possible indemnification obligation of Visa as discussed in Note 11. Accordingly, prior to the sale of its Class B shares in the third quarter of 2009, the Bancorp had recorded a litigation reserve of $243 million to account for its potential exposure in this and related litigation. Additionally, the Bancorp had also recorded its proportional share of $199 million of the Visa escrow account funded with proceeds from the Visa IPO along with several subsequent fundings. Upon the Bancorps sale of its Visa, Inc. Class B shares during the third quarter of 2009, and the recognition of the total return swap that transfers conversion risk of the Class B shares back to the Bancorp, the Bancorp reversed the remaining net litigation reserve. Refer to Note 11 for further information regarding the Bancorps net litigation reserve and ownership interest in Visa. This antitrust litigation is still in the pre-trial phase. In September 2007, Ronald A. Katz Technology Licensing, L.P. (Katz) filed a suit in the United States District Court for the Southern District of Ohio against the Bancorp and its Ohio banking subsidiary. In the suit, Katz alleges that the Bancorp and its Ohio bank are infringing on Katzs patents for interactive call processing technology by offering certain automated telephone banking and other services. This lawsuit is one of many related patent infringement suits brought by Katz in various courts against numerous other defendants. Katz is seeking unspecified monetary damages and penalties as well as injunctive relief in the suit. Management believes there are substantial defenses to these claims and intends to defend them vigorously. The impact of the final disposition of this lawsuit cannot be assessed at this time. In 2008, five putative securities class action complaints were filed against the Bancorp and its Chief Executive Officer, among other parties. The five cases have been consolidated, and are currently pending in the United States District Court for the Southern District of Ohio. The lawsuits allege violations of federal securities laws related to disclosures made by the Bancorp in press releases and filings with the SEC regarding its quality and sufficiency of capital, credit losses and related matters, and seeking unquantified damages on behalf of putative classes of persons who either purchased the Bancorps securities, or acquired the Bancorps securities pursuant to the First Charter Corporation Acquisition. In addition to the foregoing, two cases were filed in the United States District Court for the Southern Dis

13.Related Party Transactions

13.Related Party Transactions
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
13.Related Party Transactions	13. Related Party Transactions The Bancorp maintains a written policy and procedures covering related party transactions. These procedures cover transactions such as employee-stock purchase loans, personal lines of credit, residential secured loans, overdrafts, letters of credit and increases in indebtedness. Such transactions are subject to the Bancorps normal underwriting and approval procedures. Prior to the closing of a loan to a related party, Compliance Risk Management must approve and determine whether the transaction requires approval from or a post notification be sent to the Bancorps Board of Directors. At September30, 2009,December31, 2008 and September30, 2008, certain directors, executive officers, principal holders of Bancorp common stock, associates of such persons, and affiliated companies of such persons were indebted, including undrawn commitments to lend, to the Bancorps banking subsidiary. The following table summarizes the Bancorps activities with its related parties. ($ in millions) September30, 2009 December31, 2008 September30, 2008 Commitments to lend, net of participations: Directors and their affiliated companies $ 144 $ 339 $ 316 Executive officers 5 7 7 Total 149 346 323 Outstanding balance on loans, net of participations and undrawn commitments 68 143 120 The commitments to lend are in the form of loans and guarantees for various business and personal interests. This indebtedness was incurred in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time of comparable transactions with unrelated parties. This indebtedness does not involve more than the normal risk of repayment or present other unfavorable features. The decrease in commitments to lend and outstanding balances on loans as of September30, 2009 compared to prior periods is due to the Bancorp merging its Fifth Third Bank (Michigan) and Fifth Third Bank N.A. charters into the Fifth Third Bank (Ohio) charter on September30, 2009 and the resulting reduction in individuals that qualify as related parties. On June30, 2009, the Bancorp completed the sale of a majority interest in its processing businesses, known as FTPS Holding, LLC (FTPS). Advent International (Advent) acquired an approximate 51% interest in FTPS for cash and warrants. The Bancorp retained the remaining approximate 49% interest in FTPS and, as part of the sale, FTPS assumed loans totaling $1.25 billion owed to the Bancorp. The Bancorp recognized $7 million in noninterest income as part of its equity method investment in FTPS for the three months ended September30, 2009. The Bancorp received a quarterly distribution of $9 million in September. The Bancorp and FTPS have various agreements in place covering services relating to the operations of FTPS. The services provided by the Bancorp to FTPS were required to support FTPS as a stand-alone entity. These services include transition support, banking, treasury management, clearing, settlement, sponsorship, data cen

14.Income Taxes

14.Income Taxes
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
14.Income Taxes	14. Income Taxes At September30, 2009, December31, 2008 and September30, 2008, the Bancorp had unrecognized tax benefits of $98 million, $959 million, and $969 million, respectively. Those balances included $96 million of tax positions at September30, 2009 and $83 million of tax positions at both December31, 2008 and September30, 2008, that, if recognized, would impact the effective tax rate and another $1 million and $2 million at December31, 2008 and September30, 2008, respectively, that would impact goodwill. The remaining $2 million, $875 million and $884 million, as of September30, 2009,December31, 2008 and September30, 2008, respectively, is related to tax positions for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of the deductions. Substantially all of the reduction of uncertain tax positions as of September30, 2009 related to the settlement of certain leasing items with the IRS. It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Bancorps uncertain tax positions could significantly increase or decrease during the next 12 months. An estimate of the range of the reasonably possible changes to the unrecognized tax benefits cannot be made at this time. Any interest and penalties incurred in connection with income taxes are accrued as a component of tax expense. At September30, 2009 the Bancorp had an accrued interest liability of $12 million, net of the related tax benefits. At December31, 2008 and September30, 2008, the Bancorp had an accrued interest liability of $210 million, net of the related tax benefits. No material liabilities were recorded for penalties. Substantially all of the reduction of accrued interest related to the settlement of certain leasing items with the IRS. The Bancorp had filed suit in the United States District Court for the Southern District of Ohio in a dispute with the IRS concerning the timing of deductions associated with certain leveraged lease transactions in its 1997 tax return. The IRS had also proposed adjustments for subsequent tax years. The proposed adjustments related to the Bancorps portfolio of leveraged leases, with both domestic and foreign municipalities. During the first quarter of 2009, the Bancorp settled this dispute by entering into a closing agreement with the IRS to settle all of its leveraged leases for all open years. This settlement favorably impacted tax expense for the nine months ended September30, 2009 by $55 million. At December31, 2008, a deposit of approximately $1.0 billion was held with the IRS for taxes associated with the leveraged lease portfolio. In connection with the settlement, the Bancorp requested that approximately $750 million be applied against outstanding tax and interest and remaining $250 million to be returned to the Bancorp. In April of 2009, the remaining $250 million was received from the IRS. Additionally, during the first quarter of 2009, the Bancorp decided to surrender one of its BOLI policies. As a result of this decision, the Bancorp was required to establish a deferred tax asset relating to this investment. This decision favo

15.Retirement and Benefit Plans

15.Retirement and Benefit Plans
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
15.Retirement and Benefit Plans	15. Retirement and Benefit Plans Net periodic pension cost is recorded as a component of employee benefits expense in the Condensed Consolidated Statements of Income. The plan assumptions are evaluated annually and are updated as necessary. The discount rate assumption reflects the yield on a portfolio of high quality fixed-income instruments that have a similar duration to the plans liabilities. The expected long-term rate of return assumption reflects the average return expected on the assets invested to provide for the plans liabilities. In determining the expected long-term rate of return, the Bancorp evaluated actuarial and economic inputs, including long-term inflation rate assumptions and broad equity and bond indices long-term return projections, as well as actual long-term historical plan performance. During the nine months ended September30, 2009, the Bancorp made cash contributions of approximately $35 million to its pension plans. The following table summarizes the components of net periodic pension cost: Forthethreemonths endedSeptember30, Fortheninemonths endedSeptember30, ($ in millions) 2009 2008 2009 2008 Service cost $ $ Interest cost 3 3 9 10 Expected return on assets (3 ) (4 ) (9 ) (14 ) Amortization of actuarial loss 4 2 12 5 Amortization of net prior service cost Settlement 10 7 11 7 Net periodic pension cost $ 14 8 $ 23 8

16.Accumulated Other Comprehens

16.Accumulated Other Comprehensive Income
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
16.Accumulated Other Comprehensive Income	16. Accumulated Other Comprehensive Income The activity of the components of other comprehensive income and accumulated other comprehensive income for the nine months ended September30, 2009 and 2008 was as follows: TotalOtherComprehensive Income Total Accumulated Other Comprehensive Income ($ in millions) Pre-Tax Activity Tax Effect Net Activity Beginning Balance Net Activity Ending Balance 2009 Unrealized holding gains on available-for-sale securities arising during period $ 339 (119 ) 220 Reclassification adjustment for net gains included in net income (57 ) 20 (37 ) Reclassification adjustment related to prior OTTI charges (37 ) 13 (24 ) Net unrealized gains on available-for-sale securities 245 (86 ) 159 $ 115 159 274 Unrealized holding gains on cash flow hedge derivatives 52 (18 ) 34 Reclassification adjustment for net gains on cash flow hedge derivatives included in net income (22 ) 8 (14 ) Net unrealized gains on cash flow hedge derivatives 30 (10 ) 20 88 20 108 Defined benefit plans: Net prior service cost Net actuarial gain 12 (4 ) 8 Defined benefit plans, net 12 (4 ) 8 (105 ) 8 (97 ) Total $ 287 (100 ) 187 $ 98 187 285 2008 Unrealized holding losses on available-for-sale securities arising during period $ 51 (18 ) 33 Reclassification adjustment for net gains included in net income 21 (7 ) 14 Net unrealized losses on available-for-sale securities 72 (25 ) 47 $ (94 ) 47 (47 ) Unrealized holding gains on cash flow hedge derivatives 25 (9 ) 16 Reclassification adjustment for net losses on cash flow hedge derivatives included in net income (2 ) 1 (1 ) Net unrealized gains on cash flow hedge derivatives 23 (8 ) 15 25 15 40 Defined benefit plans: Net prior service cost Net actuarial gain 6 (2 ) 4 Defined benefit plans, net 6 (2 ) 4 (57 ) 4 (53 ) Total $ 101 (35 ) 66 $ (126 ) 66 (60 )

17.Common and Preferred Stock

17.Common and Preferred Stock
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
17.Common and Preferred Stock	17. Common and Preferred Stock The following is a summary of the share activity within common and preferred stock for the nine months ended September30, 2009 and 2008: Common Stock Preferred Stock (Amounts in millions, except share data) Value Shares Value Shares Shares at December31, 2008 $ 1,295 583,427,104 4,241 180,620 Issuance of common stock 351 157,955,960 Accretion from dividends on preferred shares, Series F 32 Exchange of preferred shares, Series G 133 60,121,124 (674 ) (27,849 ) Shares at September30, 2009 $ 1,779 801,504,188 $ 3,599 152,771 Shares at December31, 2007 $ 1,295 583,427,104 $ 9 9,250 Issuance of preferred shares, Series G 1,073 44,300 Shares at September30, 2008 $ 1,295 583,427,104 $ 1,082 53,550 In the second quarter of 2008, the Bancorp issued its 8.5% non-cumulative Series G convertible preferred stock. The depository shares represented 46,000 shares of the convertible preferred stock and had a liquidation preference of $25,000 per share. The Series G preferred stock is convertible at any time, at the option of the shareholder, into 2,159.8272 shares of common stock, representing a conversion price of approximately $11.575 per share of common stock. On June17, 2009, the Bancorp completed its offer to exchange 2,158.8272 shares of its common stock, no par value, and $8,250 in cash, for each set of 250 validly tendered and accepted depositary shares. The Bancorp issued approximately 60million shares of common stock and paid $230 million in cash in exchange for 7million depositary shares. Overall, $696 million in liquidation amount of the Bancorps depositary shares were validly tendered, not withdrawn and exchanged, which represented 63% of the aggregate liquidation amount of its depositary shares. An aggregate of 7million depositary shares representing 27,849 shares of Series G preferred stock were retired upon receipt. At the time of exchange, the Bancorp recognized an increase to retained earnings and net income available to common shareholders of $35 million, calculated as the difference between the carrying amount of the Series G preferred stock exchanged and the sum of the fair value of the common stock plus cash delivered. After settlement of the exchange offer and as of June30, 2009, 4,112,750 depositary shares representing 16,451 shares of Series G preferred stock remained outstanding. As a result of this exchange, the Bancorp increased its common equity by $441 million. On June4, 2009, the Bancorp announced the successful completion of a $1 billion at-the-market offering of its common shares. Through this offering, the Bancorp issued approximately 158million shares at an average price of $6.33.

18.Earnings Per Share

18.Earnings Per Share
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
18.Earnings Per Share	18. Earnings Per Share The Bancorp calculates earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share separately for common stock and participating securities according to dividends declared and participation rights in undistributed earnings. For purposes of calculating earnings per share under the two-class method, restricted shares that contain nonforfeitable rights to dividends are considered participating securities until vested. While the dividends declared per share on such restricted shares are the same as dividends declared per common share outstanding, the dividends recognized on such restricted shares may be less because dividends paid on restricted shares that are expected to be forfeited are reclassified to compensation expense during the period when forfeiture is expected. The calculation of earnings per share and the reconciliation of earnings per share and earnings per diluted share were as follows: 2009 2008 For the three months ended September30: (in millions, except per share data) Loss Average Shares PerShare Amount Loss Average Shares PerShare Amount Earnings per share: Net loss $ (97 ) $ (56 ) Dividends on preferred stock 62 25 Net loss available to common shareholders $ (159 ) 790 $ (0.20 ) $ (81 ) 572 $ (0.14 ) Earnings per diluted share: Net loss available to common shareholders $ (159 ) 790 $ (0.20 ) $ (81 ) 572 $ (0.14 ) Effect of dilutive securities: Stock based awards Convertible preferred stock Net loss available to common shareholders plus assumed conversions $ (159 ) 790 $ (0.20 ) $ (81 ) 572 $ (0.14 ) 2009 2008 For the nine months ended September30: (in millions, except per share data) Income Average Shares PerShare Amount Income Average Shares PerShare Amount Earnings per share: Net income $ 835 29 Dividends on preferred stock 165 26 Net income available to common shareholders 670 665 $ 1.00 $ 3 547 $ 0.01 Earnings per diluted share: Net income available to common shareholders $ 670 665 $ 1.00 $ 3 547 $ 0.01 Effect of dilutive securities: Stock based awards 2 2 Convertible preferred stock (a) 6 72 (0.09 ) Net income available to common shareholders plus assumed conversions 676 739 $ 0.91 $ 3 549 $ 0.01 (a) The additive effect to income from dividends on convertible preferred stock for the nine months ended September30, 2009 included preferred dividends

19.Fair Value Measurements

19.Fair Value Measurements
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
19.Fair Value Measurements	19. Fair Value Measurements The Bancorp measures certain financial assets and liabilities at fair value in accordance with U.S. GAAP, which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). A financial instruments categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the instruments fair value measurement. The three levels within the fair value hierarchy are described as follows: Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Bancorp has the ability to access at the measurement date. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Unobservable inputs for the asset or liability for which there is little, if any, market activity at the measurement date. Unobservable inputs reflect the Bancorps own assumptions about what market participants would use to price the asset or liability. The inputs are developed based on the best information available in the circumstances, which might include the Bancorps own financial data such as internally developed pricing models, discounted cash flow methodologies, as well as instruments for which the fair value determination requires significant management judgment. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables summarize assets and liabilities measured at fair value on a recurring basis, including financial instruments in which the Bancorp has elected the fair value option. FairValueMeasurementsUsing As of September30, 2009 ($ in millions) Level1 Level2 Level3 TotalFairValue Assets: Available-for-sale securities: (a) U.S. Treasury and Government agencies $ 368 $ 368 U.S. Government sponsored agencies 1,772 1,772 Obligations of states and political subdivisions 314 314 Agency mortgage-backed securities 9,484 9,484 Residual interests in securitizations 169 (f) 169 Other bonds, notes and debentures 2,399 2,399 Other securities (a) 321 10 331 Available-for-sale securities

20.Business Segments

20.Business Segments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
20.Business Segments	20. Business Segments The Bancorp reports on four business segments: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. On June30, 2009, the Bancorp completed the Processing Business Sale, which represented the sale of a majority interest in the Bancorps merchant acquiring and financial institutions processing businesses. Financial data for the merchant acquiring and financial institutions processing businesses was originally reported in the former Processing Solutions segment through June30, 2009. As a result of the sale, the Bancorp no longer presents Processing Solutions as a segment and therefore, financial information for the merchant acquiring and financial institutions processing businesses has been reclassified under General Corporate and Other for all periods presented. Additionally, the Bancorp retained its retail credit card and commercial multi-card service business, which were also originally reported in the former Processing Solutions segment through June30, 2009, and are now included in the Consumer Lending and Commercial Banking segments, respectively, for all periods presented. Revenue from the remaining ownership interest in the processing businesses is recorded in General Corporate and Other as noninterest income. Results of the Bancorps business segments are presented based on its management structure and management accounting practices. The structure and accounting practices are specific to the Bancorp; therefore, the financial results of the Bancorps business segments are not necessarily comparable with similar information for other financial institutions. The Bancorp refines its methodologies from time to time as management accounting practices are improved and businesses change. The Bancorp manages interest rate risk centrally at the corporate level by employing an FTP methodology. This methodology insulates the business segments from interest rate volatility, enabling them to focus on serving customers through loan originations and deposit taking. The FTP system assigns charge rates and credit rates to classes of assets and liabilities, respectively, based on expected duration and the LIBOR swap curve. Matching duration allocates interest income and interest expense to each segment so its resulting net interest income is insulated from interest rate risk. In a rising rate environment, the Bancorp benefits from the widening spread between deposit costs and wholesale funding costs. However, the Bancorps FTP system credits this benefit to deposit-providing businesses, such as Branch Banking and Investment Advisors, on a duration-adjusted basis. The net impact of the FTP methodology is captured in General Corporate and Other. The business segments are charged provision expense based on the actual net charge-offs experienced by the loans owned by each segment. Provision expense attributable to loan growth and changes in factors in the allowance for loan and lease losses are captured in General Corporate and Other. The financial results of the business segments include allocations for shared services and headquarters expenses. Even with these allocations, the financial results are

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009
Entity [Text Block]
Trading Symbol	FITB
Entity Registrant Name	FIFTH THIRD BANCORP
Entity Central Index Key	0000035527
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	795,316,187