Exhibit 99.3
January 2010
ANNUAL FINANCIAL SUPPLEMENT
Investment Community Member:
To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.
Numbers are unaudited for year-end information.
If you need further information, please fax or e-mail your request to Fifth Third’s Investor Relations Department at (513) 534-3945 or IR@53.com
Jim Eglseder | Rich Rosen | |||||
VP / Investor Relations | VP / Investor Relations | |||||
(513) 534-8424 | (513) 534-3307 |
Yearly Data
Years Ended December 31, | ||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||
Ratios (percent) | ||||||||||||||||
Return on assets | 0.64 | (1.85 | ) | 1.05 | 1.13 | 1.51 | ||||||||||
Return on average common equity | 5.6 | (23.0 | ) | 11.2 | 12.1 | 16.6 | ||||||||||
Average equity as a percent of average assets | 11.36 | 8.78 | 9.35 | 9.32 | 9.06 | |||||||||||
Net interest margin (a) | 3.32 | 3.54 | 3.36 | 3.06 | 3.23 | |||||||||||
Efficiency (a) | 46.9 | 70.4 | 60.2 | 55.4 | 52.1 | |||||||||||
Net losses charged off as a percent of average loans and leases | 3.20 | 3.23 | 0.61 | 0.44 | 0.45 | |||||||||||
Allowance for loan and lease losses as a percent of loans and leases | 4.88 | 3.31 | 1.17 | 1.04 | 1.06 | |||||||||||
Allowance for credit losses as a percent of loans and leases | 5.27 | 3.54 | 1.29 | 1.14 | 1.16 | |||||||||||
Nonperforming assets as a percent of loans, leases and other assets, including OREO (b) | 4.22 | 2.38 | 1.32 | 0.61 | 0.52 | |||||||||||
Allowance for loan and lease losses as a percent of nonperforming assets | 108.08 | 112.44 | 88.06 | 169.62 | 206.03 | |||||||||||
Allowance for credit losses as a percent of nonperforming assets | 116.56 | 120.30 | 96.99 | 186.33 | 225.33 | |||||||||||
Common Share Data | ||||||||||||||||
Earnings per share | $ | 0.73 | $ | (3.91 | ) | $ | 1.99 | $ | 2.13 | $ | 2.79 | |||||
Earnings per diluted share | 0.67 | (3.91 | ) | 1.98 | 2.12 | 2.77 | ||||||||||
Cash dividends per common share | 0.04 | 2.52 | 1.70 | 1.58 | 1.46 | |||||||||||
Book value per share | 12.44 | 13.57 | 17.24 | 18.00 | 16.98 | |||||||||||
Common shares outstanding, excluding treasury | 795,068,164 | 577,386,612 | 532,671,925 | 556,252,674 | 555,623,430 | |||||||||||
Market price per share: | ||||||||||||||||
High | $ | 11.20 | $ | 28.58 | $ | 43.32 | $ | 41.57 | $ | 48.12 | ||||||
Low | 1.01 | 6.32 | 24.82 | 35.86 | 35.04 | |||||||||||
Close | 9.75 | 8.26 | 25.13 | 40.93 | 37.72 | |||||||||||
Supplemental Data | ||||||||||||||||
Common dividends declared ($ in millions) | $ | 29 | $ | 413 | $ | 914 | $ | 880 | $ | 810 | ||||||
Full-time equivalent employees | 20,998 | 21,476 | 21,683 | 21,362 | 21,681 | |||||||||||
Banking centers | 1,309 | 1,307 | 1,227 | 1,150 | 1,119 | |||||||||||
ATMs | 2,358 | 2,341 | 2,211 | 2,096 | 2,024 |
(a) | Presented on a fully taxable equivalent basis (“FTE”). |
(b) | Excludes nonperforming assets held for sale. |
2
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Income Statement ($ in millions) | ||||||||||||||||||||
Interest income (FTE) | $ | 4,687 | $ | 5,630 | $ | 6,051 | $ | 5,981 | $ | 5,026 | ||||||||||
Interest expense | 1,314 | 2,094 | 3,018 | 3,082 | 2,030 | |||||||||||||||
Net interest income (FTE) | 3,373 | 3,536 | 3,033 | 2,899 | 2,996 | |||||||||||||||
Provision for loan and lease losses | 3,543 | 4,560 | 628 | 343 | 330 | |||||||||||||||
Noninterest income: | ||||||||||||||||||||
Service charges on deposits | 632 | 641 | 579 | 517 | 522 | |||||||||||||||
Investment advisory revenue | 299 | 353 | 382 | 367 | 358 | |||||||||||||||
Corporate banking revenue | 399 | 444 | 367 | 318 | 299 | |||||||||||||||
Mortgage banking net revenue | 553 | 199 | 133 | 155 | 174 | |||||||||||||||
Card and processing revenue | 615 | 912 | 825 | 717 | 622 | |||||||||||||||
Gain on sale of processing business | 1,758 | — | — | — | — | |||||||||||||||
Other noninterest income | 479 | 1,275 | 154 | 299 | 360 | |||||||||||||||
Securities gains (losses), net | (10 | ) | (86 | ) | 21 | (364 | ) | 39 | ||||||||||||
Securities gains, net - non-qualifying hedges on mortgage servicing rights | 57 | 120 | 6 | 3 | — | |||||||||||||||
Total noninterest income | 4,782 | 2,946 | 2,467 | 2,012 | 2,374 | |||||||||||||||
Noninterest expense: | ||||||||||||||||||||
Salaries, wages, and incentives | 1,339 | 1,337 | 1,239 | 1,174 | 1,133 | |||||||||||||||
Employee benefits | 311 | 278 | 278 | 292 | 283 | |||||||||||||||
Net occupancy expense | 308 | 300 | 269 | 245 | 221 | |||||||||||||||
Technology and communications | 181 | 191 | 169 | 141 | 142 | |||||||||||||||
Equipment expense | 123 | 130 | 123 | 116 | 105 | |||||||||||||||
Card and processing expense | 193 | 274 | 244 | 184 | 145 | |||||||||||||||
Other noninterest expense | 1,564 | 2,328 | 989 | 763 | 772 | |||||||||||||||
Total noninterest expense | 3,826 | 4,564 | 3,311 | 2,915 | 2,801 | |||||||||||||||
Income (loss) before income taxes and cumulative effect (FTE) | 786 | (2,642 | ) | 1,561 | 1,653 | 2,239 | ||||||||||||||
Taxable equivalent adjustment | 19 | 22 | 24 | 26 | 31 | |||||||||||||||
Income (loss) before income taxes and cumulative effect | 767 | (2,664 | ) | 1,537 | 1,627 | 2,208 | ||||||||||||||
Applicable income taxes | 30 | (551 | ) | 461 | 443 | 659 | ||||||||||||||
Income (loss) before cumulative effect | 737 | (2,113 | ) | 1,076 | 1,184 | 1,549 | ||||||||||||||
Cumulative effect of change in accounting principle, net of tax | — | — | — | 4 | — | |||||||||||||||
Net income (loss) | $ | 737 | $ | (2,113 | ) | $ | 1,076 | $ | 1,188 | $ | 1,549 | |||||||||
Dividend on Preferred Stock | 226 | 67 | 1 | — | 1 | |||||||||||||||
Net income (loss) available to common shareholders | $ | 511 | $ | (2,180 | ) | $ | 1,075 | $ | 1,188 | $ | 1,548 | |||||||||
Regulatory Capital Data ($ in millions) (a) | ||||||||||||||||||||
Tier I capital | $ | 13,428 | $ | 11,924 | $ | 8,924 | $ | 8,625 | $ | 8,209 | ||||||||||
Tier II capital | 4,207 | 4,722 | 2,809 | 2,760 | 2,031 | |||||||||||||||
Total risk-based capital | $ | 17,635 | $ | 16,646 | $ | 11,733 | $ | 11,385 | $ | 10,240 | ||||||||||
Risk-weighted assets | $ | 100,862 | $ | 112,622 | $ | 115,529 | $ | 102,823 | $ | 98,293 | ||||||||||
Tier I capital ratio | 13.31 | % | 10.59 | % | 7.72 | % | 8.39 | % | 8.35 | % | ||||||||||
Total risk-based capital ratio | 17.48 | % | 14.78 | % | 10.16 | % | 11.07 | % | 10.42 | % | ||||||||||
Tier I leverage ratio | 12.43 | % | 10.27 | % | 8.50 | % | 8.44 | % | 8.08 | % | ||||||||||
Tier I common equity ratio | 7.00 | % | 4.37 | % | 5.72 | % | 8.22 | % | 8.17 | % |
(a) | 2009 regulatory capital data and ratios are estimated. |
3
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Balance Sheet ($ in millions, except share data) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Cash and due from banks | $ | 2,318 | $ | 2,739 | $ | 2,660 | $ | 2,705 | $ | 3,070 | ||||||||||
Available-for-sale securities | 18,213 | 12,728 | 10,677 | 11,053 | 21,924 | |||||||||||||||
Held-to-maturity securities | 355 | 360 | 355 | 356 | 389 | |||||||||||||||
Trading securities | 355 | 1,191 | 171 | 187 | 117 | |||||||||||||||
Other short-term investments | 3,369 | 3,578 | 620 | 841 | 166 | |||||||||||||||
Total cash and securities | 24,610 | 20,596 | 14,483 | 15,142 | 25,666 | |||||||||||||||
Loans held for sale | 2,067 | 1,452 | 4,329 | 1,150 | 1,304 | |||||||||||||||
Portfolio loans and leases | 76,779 | 84,143 | 80,253 | 74,353 | 69,925 | |||||||||||||||
Total loans and leases | 78,846 | 85,595 | 84,582 | 75,503 | 71,229 | |||||||||||||||
Allowance for loan and lease losses | (3,749 | ) | (2,787 | ) | (937 | ) | (771 | ) | (744 | ) | ||||||||||
Bank premises and equipment | 2,400 | 2,494 | 2,223 | 1,940 | 1,726 | |||||||||||||||
Operating lease equipment | 499 | 463 | 353 | 202 | 143 | |||||||||||||||
Goodwill | 2,417 | 2,624 | 2,470 | 2,193 | 2,169 | |||||||||||||||
Intangible assets | 106 | 168 | 147 | 166 | 208 | |||||||||||||||
Servicing rights | 700 | 499 | 618 | 524 | 441 | |||||||||||||||
Other real estate owned | 300 | 231 | 159 | 88 | 54 | |||||||||||||||
Other assets | 7,251 | 9,881 | 9,087 | 7,622 | 6,059 | |||||||||||||||
Total assets | $ | 113,380 | $ | 119,764 | $ | 110,962 | $ | 100,669 | $ | 105,225 | ||||||||||
Liabilities | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand | $ | 19,411 | $ | 15,287 | $ | 14,404 | $ | 14,331 | $ | 14,609 | ||||||||||
Interest checking | 19,935 | 14,222 | 15,254 | 15,993 | 18,282 | |||||||||||||||
Savings | 17,898 | 16,063 | 15,635 | 13,181 | 11,276 | |||||||||||||||
Money market | 4,431 | 4,689 | 6,521 | 6,584 | 6,129 | |||||||||||||||
Foreign Office | 2,454 | 2,144 | 2,572 | 1,353 | 421 | |||||||||||||||
Other time | 12,466 | 14,350 | 11,440 | 10,987 | 9,313 | |||||||||||||||
Certificates - $100,000 and over | 7,700 | 11,851 | 6,738 | 6,628 | 4,343 | |||||||||||||||
Other foreign office | 10 | 7 | 2,881 | 323 | 3,061 | |||||||||||||||
Total deposits | 84,305 | 78,613 | 75,445 | 69,380 | 67,434 | |||||||||||||||
Federal funds purchased | 182 | 287 | 4,427 | 1,421 | 5,323 | |||||||||||||||
Other short-term borrowings | 1,415 | 9,959 | 4,747 | 2,796 | 4,246 | |||||||||||||||
Other liabilities | 3,474 | 5,243 | 4,325 | 4,492 | 3,549 | |||||||||||||||
Long-term debt | 10,507 | 13,585 | 12,857 | 12,558 | 15,227 | |||||||||||||||
Total liabilities | 99,883 | 107,687 | 101,801 | 90,647 | 95,779 | |||||||||||||||
Shareholders’ Equity | ||||||||||||||||||||
Common and preferred equity | 13,457 | 12,208 | 11,496 | 11,433 | 11,138 | |||||||||||||||
Net unrealized gains (losses): | ||||||||||||||||||||
Available-for-sale securities | 216 | 115 | (93 | ) | (119 | ) | (395 | ) | ||||||||||||
Qualifying cash flow hedges | 105 | 88 | 24 | (1 | ) | (13 | ) | |||||||||||||
Accumulated other comprehensive income related to employee benefit plans | (80 | ) | (105 | ) | (57 | ) | (59 | ) | (5 | ) | ||||||||||
Treasury stock, at cost | (201 | ) | (229 | ) | (2,209 | ) | (1,232 | ) | (1,279 | ) | ||||||||||
Total shareholders’ equity | 13,497 | 12,077 | 9,161 | 10,022 | 9,446 | |||||||||||||||
Total liabilities & shareholders’ equity | $ | 113,380 | $ | 119,764 | $ | 110,962 | $ | 100,669 | $ | 105,225 | ||||||||||
Share Data | ||||||||||||||||||||
Preferred shares outstanding | 152,771 | 180,620 | 9,250 | 9,250 | 9,250 | |||||||||||||||
Common shares outstanding, excluding treasury | 795,068,164 | 577,386,612 | 532,671,925 | 556,252,674 | 555,623,430 | |||||||||||||||
Treasury shares held | 6,436,023 | 6,040,492 | 50,755,179 | 27,174,430 | 27,803,674 |
4
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Average Balance Sheet ($ in millions, except share data) | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Interest-earning assets: | ||||||||||||||||||||
Loans and leases | $ | 83,391 | $ | 85,835 | $ | 78,348 | $ | 73,493 | $ | 67,737 | ||||||||||
Taxable securities | 16,861 | 13,082 | 11,131 | 20,306 | 24,017 | |||||||||||||||
Tax exempt securities | 239 | 342 | 499 | 604 | 789 | |||||||||||||||
Other short-term investments | 1,035 | 621 | 404 | 410 | 201 | |||||||||||||||
Total interest-earning assets | 101,526 | 99,880 | 90,382 | 94,813 | 92,744 | |||||||||||||||
Cash and due from banks | 2,329 | 2,490 | 2,275 | 2,463 | 2,750 | |||||||||||||||
Other assets | 14,266 | 13,411 | 10,613 | 8,713 | 8,102 | |||||||||||||||
Allowance for loan and lease losses | (3,265 | ) | (1,485 | ) | (793 | ) | (751 | ) | (720 | ) | ||||||||||
Total assets | $ | 114,856 | $ | 114,296 | $ | 102,477 | $ | 105,238 | $ | 102,876 | ||||||||||
Liabilities | ||||||||||||||||||||
Interest-bearing liabilities: | ||||||||||||||||||||
Interest checking | $ | 15,070 | $ | 14,191 | $ | 14,820 | $ | 16,650 | $ | 18,884 | ||||||||||
Savings | 16,875 | 16,192 | 14,836 | 12,189 | 10,007 | |||||||||||||||
Money market | 4,320 | 6,127 | 6,308 | 6,366 | 5,170 | |||||||||||||||
Foreign office | 2,108 | 2,153 | 1,762 | 732 | 248 | |||||||||||||||
Other time | 14,103 | 11,135 | 10,778 | 10,500 | 8,491 | |||||||||||||||
Certificates - $100,000 and over | 10,367 | 9,532 | 6,466 | 5,795 | 4,001 | |||||||||||||||
Other foreign office | 157 | 2,066 | 1,393 | 2,979 | 3,719 | |||||||||||||||
Federal funds purchased | 517 | 2,975 | 3,646 | 4,148 | 4,225 | |||||||||||||||
Short-term borrowings | 6,463 | 7,785 | 3,244 | 8,670 | 9,511 | |||||||||||||||
Long-term debt | 11,035 | 13,903 | 12,505 | 14,247 | 16,384 | |||||||||||||||
Total interest-bearing liabilities | 81,015 | 86,059 | 75,758 | 78,128 | 76,415 | |||||||||||||||
Demand deposits | 16,862 | 14,017 | 13,261 | 13,741 | 13,868 | |||||||||||||||
Other liabilities | 3,926 | 4,182 | 3,876 | 3,558 | 3,276 | |||||||||||||||
Total liabilities | 101,803 | 104,258 | 92,894 | 95,427 | 93,559 | |||||||||||||||
Shareholders’ equity | 13,053 | 10,038 | 9,583 | 9,811 | 9,317 | |||||||||||||||
Total liabilities & shareholders’ equity | $ | 114,856 | $ | 114,296 | $ | 102,477 | $ | 105,238 | $ | 102,876 | ||||||||||
Average loans and leases (excluding held for sale) | $ | 80,681 | $ | 83,895 | $ | 76,033 | $ | 72,447 | $ | 66,685 | ||||||||||
Average common shares outstanding: | ||||||||||||||||||||
Basic | 696,452,466 | 553,112,898 | 537,669,793 | 554,983,021 | 554,410,581 | |||||||||||||||
Diluted | 726,508,263 | 553,112,898 | 540,118,386 | 557,493,607 | 558,442,819 |
5
Yearly Data
Years Ended December 31, | ||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
End of Period Loans and Leases ($ in millions)(net of unearned discount) | ||||||||||||||||||||
Commercial: | ||||||||||||||||||||
Commercial loans | $ | 25,687 | $ | 29,220 | $ | 26,079 | $ | 20,831 | $ | 19,377 | ||||||||||
Commercial mortgage | 11,936 | 12,952 | 11,967 | 10,405 | 9,188 | |||||||||||||||
Commercial construction | 3,871 | 5,114 | 5,561 | 6,168 | 6,342 | |||||||||||||||
Commercial leases | 3,535 | 3,666 | 3,737 | 3,841 | 3,698 | |||||||||||||||
Subtotal - commercial | 45,029 | 50,952 | 47,344 | 41,245 | 38,605 | |||||||||||||||
Consumer: | ||||||||||||||||||||
Residential mortgage | 9,845 | 10,292 | 11,433 | 9,905 | 8,991 | |||||||||||||||
Home equity | 12,174 | 12,752 | 11,874 | 12,154 | 11,805 | |||||||||||||||
Automobile loans | 8,995 | 8,594 | 11,183 | 10,028 | 9,396 | |||||||||||||||
Credit card | 1,990 | 1,811 | 1,591 | 1,004 | 788 | |||||||||||||||
Other consumer loans and leases | 813 | 1,198 | 1,157 | 1,167 | 1,644 | |||||||||||||||
Subtotal - consumer | 33,817 | 34,647 | 37,238 | 34,258 | 32,624 | |||||||||||||||
Total loans and leases | $ | 78,846 | $ | 85,599 | $ | 84,582 | $ | 75,503 | $ | 71,229 | ||||||||||
Average Loans and Leases ($ in millions)(net of unearned discount) | ||||||||||||||||||||
Commercial: | ||||||||||||||||||||
Commercial loans | $ | 27,556 | $ | 28,426 | $ | 22,351 | $ | 20,504 | $ | 18,310 | ||||||||||
Commercial mortgage | 12,511 | 12,776 | 11,078 | 9,797 | 8,923 | |||||||||||||||
Commercial construction | 4,638 | 5,846 | 5,661 | 6,015 | 5,525 | |||||||||||||||
Commercial leases | 3,543 | 3,680 | 3,683 | 3,730 | 3,495 | |||||||||||||||
Subtotal - commercial | 48,248 | 50,728 | 42,773 | 40,046 | 36,253 | |||||||||||||||
Consumer: | ||||||||||||||||||||
Residential mortgage | 10,886 | 10,993 | 10,489 | 9,574 | 8,982 | |||||||||||||||
Home equity | 12,534 | 12,269 | 11,887 | 12,070 | 11,229 | |||||||||||||||
Automobile loans | 8,807 | 8,925 | 10,704 | 9,570 | 8,650 | |||||||||||||||
Credit card | 1,907 | 1,708 | 1,276 | 838 | 728 | |||||||||||||||
Other consumer loans and leases | 1,009 | 1,213 | 1,219 | 1,394 | 1,897 | |||||||||||||||
Subtotal - consumer | 35,143 | 35,108 | 35,575 | 33,446 | 31,486 | |||||||||||||||
Total average loans and leases | $ | 83,391 | $ | 85,836 | $ | 78,348 | $ | 73,492 | $ | 67,739 | ||||||||||
Asset Quality ($ in millions) | ||||||||||||||||||||
Nonaccrual loans and leases | $ | 2,642 | $ | 1,696 | $ | 813 | $ | 352 | $ | 294 | ||||||||||
Nonaccrual loans held for sale | 220 | 473 | — | — | — | |||||||||||||||
Restructured loans - commercial (non accrual) held for sale | 4 | — | — | — | — | |||||||||||||||
Restructured loans and leases (non accrual) portfolio | 305 | 80 | 80 | — | — | |||||||||||||||
Other assets, including other real estate owned | 297 | 230 | 171 | 103 | 67 | |||||||||||||||
Total nonperforming assets | $ | 3,468 | $ | 2,479 | $ | 1,064 | $ | 455 | $ | 361 | ||||||||||
Ninety days past due loans and leases | $ | 567 | $ | 662 | $ | 491 | $ | 210 | $ | 155 | ||||||||||
Nonperforming Loans ($ in millions) (non-accrual plus renegotiated) | ||||||||||||||||||||
Commercial mortgage | $ | 1,035 | 715 | 243 | 84 | $ | 51 | |||||||||||||
Commercial construction loans | 741 | 578 | 249 | 54 | 31 | |||||||||||||||
Commercial loans and leases | 840 | 586 | 180 | 133 | 146 | |||||||||||||||
Consumer mortgage and construction | 412 | 279 | 121 | 38 | 30 | |||||||||||||||
Other consumer loans and leases | 144 | 91 | 100 | 43 | 36 | |||||||||||||||
Total nonperforming loans | $ | 3,172 | $ | 2,249 | $ | 893 | $ | 352 | $ | 294 | ||||||||||
Credit Charge-Offs ($ in millions) | ||||||||||||||||||||
Gross charge-offs | $ | (2,719 | ) | $ | (2,792 | ) | $ | (544 | ) | $ | (408 | ) | $ | (373 | ) | |||||
Recoveries | 138 | 82 | 81 | 92 | 74 | |||||||||||||||
Net losses charged off | $ | (2,581 | ) | $ | (2,710 | ) | $ | (463 | ) | $ | (316 | ) | $ | (299 | ) | |||||
6