Fifth Third Bancorp (FITB) 8-K Fifth Third Bancorp Announces First Quarter 2010 Results

Exhibit 99.1

		News Release
CONTACTS:	Jim Eglseder (Investors)	FOR IMMEDIATE RELEASE
	(513) 534-8424 Rich Rosen (Investors) (513) 534-3307 Debra DeCourcy, APR (Media) (513) 579-4153	April 22, 2010

FIFTH THIRD BANCORP ANNOUNCES FIRST QUARTER 2010 RESULTS

Significant improvement in credit trends and continued strong operating results

• First quarter 2010 net loss of $10 million; $0.09 per diluted share

• Fourth quarter 2009 net loss of $98 million; $0.20 per diluted share

• Per share results include preferred dividends which reduced net income available to common shareholders by $0.08 per diluted share

• Significantly improved credit trends

• Nonperforming assets declined 3 percent and nonperforming loans declined 7 percent sequentially (lowest levels since 2Q09)

• Net charge-offs declined $126 million or 18 percent sequentially (lowest level since 1Q09)

• Total delinquencies declined 15 percent sequentially (lowest level since 3Q07), driven by lower loans 90 days past due

• Allowance to loan ratio increased to 4.91 percent, 139 percent of nonperforming loans and leases, and allowance of 1.6 times annualized 1Q10 net charge-offs

• Pre-provision net revenue (PPNR)* of $568 million up $6 million from 4Q09

• Net interest income increased $19 million, or 2 percent, sequentially; net interest margin of 3.63 percent, up 8 bps from the previous quarter

• Noninterest income down 4 percent sequentially, reflecting continued strong mortgage banking revenue more than offset by expected lower TSA revenue, warrant gains in 4Q09, and seasonality

• Noninterest expense down 1 percent sequentially, driven by expected lower TSA expense

• Capital and liquidity position remain very strong

• Average loans increased 1 percent, reflecting impact of consolidation due to accounting guidance adopted on January 1, 2010

• Average core deposits up 14 percent, wholesale funding down 42 percent from a year ago

• Tangible common equity ratio of 6.37 percent, Tier 1 common ratio of 6.97 percent, Leverage ratio of 12.00 percent, Tier 1 ratio of 13.40 percent, total capital ratio of 17.55 percent

• Extended $18 billion of new and renewed credit in the first quarter

* Pre-provision net revenue (PPNR): net interest income plus noninterest income minus noninterest expense.

Fifth Third Bancorp (Nasdaq: FITB) today reported a first quarter 2010 net loss of $10 million compared with a net loss of $98 million in the fourth quarter of 2009 and net income of $50 million in the first quarter of 2009. After preferred dividends, the first quarter 2010 net loss available to common shareholders was $72 million or $0.09 per diluted share, compared with a fourth quarter net loss of $160 million or $0.20 per diluted share, and a net loss of $26 million or $0.04 per diluted share in the first quarter of 2009.

First quarter 2009 net income included $121 million after-tax, or $0.21 per share, in benefits related to the decision to surrender one of our bank-owned life insurance (BOLI) policies, which included lower tax expense partially offset by non-cash charges, and also related to our agreement with the IRS to settle all of Fifth Third’s disputed leveraged leases for all open years, which included a reduction in tax expense partially offset by a reduction in net interest income.

Earnings Highlights

	For the Three Months Ended															% Change
	March 2010			December 2009			September 2009			June 2009			March 2009			Seq		Yr/Yr
Earnings ($ in millions)
Net income (loss)	($	10	)	($	98	)	($	97	)	$	882		$	50		89	%	NM
Net income (loss) available to common shareholders	($	72	)	($	160	)	($	159	)	$	856		($	26	)	55	%	(175	%)
Common Share Data
Earnings per share, basic		(0.09	)		(0.20	)		(0.20	)		1.35			(0.04	)	(55	%)	(125	%)
Earnings per share, diluted		(0.09	)		(0.20	)		(0.20	)		1.15			(0.04	)	(55	%)	(125	%)
Cash dividends per common share		0.01			0.01			0.01			0.01			0.01		—		—
Financial Ratios
Return on average assets		(.04	%)		(.35	%)		(.34	%)		3.05	%		0.17	%	89	%	NM
Return on average common equity		(3.0	)		(6.3	)		(6.1	)		41.2			(1.4	)	52	%	(114	%)
Tier I capital		13.40			13.31			13.19			12.90			10.93		1	%	23	%
Tier I common equity		6.97			7.00			7.01			6.94			4.50		—		16	%
Net interest margin (a)		3.63			3.55			3.43			3.26			3.06		2	%	19	%
Efficiency (a)		62.6			63.1			50.8			29.9			65.1		(1	%)	(4	%)
Common shares outstanding (in thousands)		794,816			795,068			795,316			795,313			576,936		—		38	%
Average common shares outstanding (in thousands):
Basic		790,473			790,442			790,334			629,789			571,810		—		38	%
Diluted		790,473			790,442			790,334			718,245			571,810		—		38	%

(a) Presented on a fully taxable equivalent basis

NM: Not Meaningful

“First quarter results showed continued significant improvement, reflecting not only lower credit costs but also stronger than expected pre-provision earnings” said Kevin Kabat, chairman, CEO and president of Fifth Third Bancorp. “Since the beginning of the credit crisis, we have focused on addressing the sources of credit issues, on aggressively identifying and resolving problem loans. At the same time, we’ve sought to ensure that we were appropriately reserved and capitalized for the deterioration that we expected to occur as the credit cycle unfolded.

I believe our results this quarter reflect the benefit of those actions and efforts. Delinquent loans declined 15 percent to the lowest level since 2007. Nonperforming loans declined 7 percent to the lowest level we’ve seen since mid-2009. And net charge-offs declined $126 million or 18 percent, representing the lowest level

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experienced since the first quarter of 2009. Reserve coverage levels remain very strong, at 4.91 percent of loans, 139 percent of nonperforming loans, and 1.6 times annualized first quarter charge-offs.

We currently expect to see continued credit improvement in the second quarter, with delinquencies and nonperforming assets remaining relatively stable and charge-offs down another $100 million or so in the second quarter. We also expect full year charge-offs to be significantly below the $2.6 billion we experienced in 2009. Given recent credit trends and our current expectations for future credit results, we expect loan loss reserves to begin to come down next quarter. These expectations are dependent on economic trends remaining consistent with our current outlook.

Operating results also showed improvement. Pre-provision net revenue of $568 million reflected solid net interest income growth, better than expected fee income results, and lower expenses. Net interest income increased 2 percent from last quarter despite continued weak loan demand and excess liquidity. Average loans increased 1 percent and average core deposits increased 6 percent sequentially. Wholesale borrowings are down 42 percent from a year ago, reflecting our strong liquidity position. Noninterest income was down 4 percent from a seasonally strong fourth quarter with mortgage banking results stronger than expected. Noninterest expense was down 1 percent sequentially despite continued elevated credit-related expenses and investments in our business.

Capital levels remained strong, including a Tier 1 common equity ratio of 7.0 percent and a Tier 1 capital ratio of 13.4 percent. We expect second quarter capital levels to remain consistent with first quarter levels and to begin to reflect organic growth as our earnings results continue to improve.”

Income Statement Highlights

	For the Three Months Ended														% Change
	March 2010			December 2009			September 2009			June 2009		March 2009			Seq		Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	901		$	882		$	874		$	836	$	781		2	%	15	%
Provision for loan and lease losses		590			776			952			1,041		773		(24	%)	(24	%)
Total noninterest income		627			651			851			2,583		697		(4	%)	(10	%)
Total noninterest expense		956			967			876			1,021		962		(1	%)	(1	%)
Income (loss) before income taxes (taxable equivalent)		(18	)		(210	)		(103	)		1,357		(257	)	92	%	93	%
Taxable equivalent adjustment		4			4			5			5		5		—		(20	%)
Applicable income taxes		(12	)		(116	)		(11	)		470		(312	)	90	%	96	%
Net income (loss)		(10	)		(98	)		(97	)		882		50		89	%	NM
Dividends on preferred stock		62			62			62			26		76		—		(18	%)
Net income (loss) available to common shareholders		(72	)		(160	)		(159	)		856		(26	)	55	%	(175	%)
Earnings per share, diluted	($	0.09	)	($	0.20	)	($	0.20	)	$	1.15	($	0.04	)	(55	%)	(125	%)
NM: Not Meaningful

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Net Interest Income

	For the Three Months Ended															% Change
	March 2010			December 2009			September 2009			June 2009			March 2009			Seq		Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	1,147		$	1,147		$	1,174		$	1,184		$	1,183		—		(3	%)
Total interest expense		246			265			300			348			402		(7	%)	(39	%)
Net interest income (taxable equivalent)	$	901		$	882		$	874		$	836		$	781		2	%	15	%
Average Yield
Yield on interest-earning assets		4.62	%		4.61	%		4.61	%		4.62	%		4.63	%	—		—
Yield on interest-bearing liabilities		1.29	%		1.39	%		1.51	%		1.67	%		1.89	%	(7	%)	(32	%)
Net interest rate spread (taxable equivalent)		3.33	%		3.22	%		3.10	%		2.95	%		2.74	%	3	%	22	%
Net interest margin (taxable equivalent)		3.63	%		3.55	%		3.43	%		3.26	%		3.06	%	2	%	19	%
Average Balances ($ in millions)
Loans and leases, including held for sale	$	80,136		$	79,920		$	82,888		$	84,996		$	85,829		—		(7	%)
Total securities and other short-term investments		20,559			18,869			18,065			17,762			17,835		9	%	15	%
Total interest-bearing liabilities		77,655			75,815			78,759			83,407			86,218		2	%	(10	%)
Shareholders’ equity		13,518			13,724			13,885			12,490			12,084		(2	%)	12	%

Net interest income of $901 million on a taxable equivalent basis increased $19 million, or 2 percent, from the fourth quarter of 2009. The net interest margin was 3.63 percent, up 8 bps from 3.55 percent the previous quarter. The sequential increase in net interest income and net interest margin was largely driven by reduced funding costs and deposit mix shift to lower cost core deposits from higher priced term deposits as well as continued realization of more attractive spreads on loans originated during the quarter. Net interest income also benefitted by approximately $10 million from the effect of the consolidation of loans in accordance with accounting guidance adopted on January 1, 2010,

Compared with the first quarter of 2009, net interest income increased $120 million and the net interest margin increased 57 bps from 3.06 percent, largely the result of the mix shift from higher cost term deposits to lower cost deposit products throughout the year, partially offset by reduced loan demand.

Average Securities

During the quarter, average securities and other short-term investments increased by $1.7 billion. The increase was driven by a $2 billion sequential increase in average short-term investments, reflecting excess liquidity. The full-quarter effect of fourth quarter purchases of agency mortgage-backed securities was largely offset by the impact of the consolidation of certain of our off-balance sheet conduits at the beginning of the quarter. The consolidation reduced securities balances by approximately $940 million on a net basis.

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Average Loans

	For the Three Months Ended										% Change
	March 2010		December 2009		September 2009		June 2009		March 2009		Seq		Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	26,294	$	25,816	$	27,400	$	28,027	$	28,949	2	%	(9	%)
Commercial mortgage		11,708		11,981		12,269		12,463		12,508	(2	%)	(6	%)
Commercial construction		3,700		4,024		4,337		4,672		4,987	(8	%)	(26	%)
Commercial leases		3,467		3,574		3,522		3,512		3,564	(3	%)	(3	%)
Subtotal - commercial loans and leases		45,169		45,395		47,528		48,674		50,008	—		(10	%)
Consumer:
Residential mortgage loans		7,976		8,129		8,355		8,713		9,195	(2	%)	(13	%)
Home equity		12,338		12,291		12,452		12,636		12,763	—		(3	%)
Automobile loans		10,185		8,973		8,871		8,692		8,687	14	%	17	%
Credit card		1,940		1,982		1,955		1,863		1,825	(2	%)	6	%
Other consumer loans and leases		773		831		899		995		1,083	(7	%)	(29	%)
Subtotal - consumer loans and leases		33,212		32,206		32,532		32,899		33,553	3	%	(1	%)
Total average loans and leases (excluding held for sale)	$	78,381	$	77,601	$	80,060	$	81,573	$	83,561	1	%	(6	%)
Average loans held for sale		1,756		2,319		2,828		3,422		2,268	(24	%)	(23	%)

Average portfolio loan and lease balances increased 1 percent sequentially and declined 6 percent from the first quarter of 2009.

Average commercial loan and lease balances were flat sequentially and declined 10 percent from the first quarter of 2009. Commercial and industrial (C&I) average loans increased 2 percent sequentially and declined 9 percent from the previous year. Sequential growth was driven by the addition of $724 million in C&I balances that were consolidated on January 1, 2010. Excluding this impact, sequential and year-over-year declines were impacted by continued low demand and lower customer line utilization, which was 34 percent of committed lines in the first quarter versus 35 and 41 percent in the fourth quarter and first quarter of 2009 respectively. Average commercial mortgage and commercial construction loan balances declined by a combined 4 percent sequentially and 12 percent from the same period the previous year, reflecting low customer demand and tighter underwriting standards.

Average consumer loan and lease balances increased 3 percent sequentially and declined 1 percent from the first quarter of 2009. The sequential increase was driven by $1.2 billion of securitized auto loans and $263 million of home equity loans that were consolidated on January 1, 2010. Excluding the impact of these consolidations, average consumer loan and lease balances declined 1 percent sequentially and 5 percent from the first quarter of 2009. Sequential declines reflect lower demand for consumer loans and leases, while year-over-year declines in residential mortgage loans and home equity were partially offset by growth in auto loans and credit card.

Nearly all 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 were $1.5 billion at quarter end.

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Average Deposits

	For the Three Months Ended										% Change
	March 2010		December 2009		September 2009		June 2009		March 2009		Seq		Yr/Yr
Average Deposits ($ in millions)
Demand deposits	$	18,822	$	18,137	$	17,059	$	16,689	$	15,532	4	%	21	%
Interest checking		19,533		16,324		14,869		14,837		14,229	20	%	37	%
Savings		18,469		17,540		16,967		16,705		16,272	5	%	13	%
Money market		4,622		4,279		4,280		4,167		4,559	8	%	1	%
Foreign office (a)		2,757		2,516		2,432		1,717		1,755	10	%	57	%
Subtotal - Transaction deposits		64,203		58,796		55,607		54,115		52,347	9	%	23	%
Other time		12,059		13,049		14,264		14,612		14,501	(8	%)	(17	%)
Subtotal - Core deposits		76,262		71,845		69,871		68,727		66,848	6	%	14	%
Certificates - $100,000 and over		7,049		8,200		10,055		11,455		11,802	(14	%)	(40	%)
Other		8		51		95		240		247	(85	%)	(97	%)
Total deposits	$	83,319	$	80,096	$	80,021	$	80,422	$	78,897	4	%	6	%

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

Average core deposits increased 6 percent sequentially and 14 percent from the first quarter of 2009. Sequential growth in demand deposit accounts (DDA), interest checking and savings was partially offset by lower consumer CD balances. Higher priced, short-term consumer CDs originated in the second half of 2008 continue to mature, while demand deposits and interest checking balances continue to reflect excess customer liquidity, particularly public funds. Average transaction deposits excluding consumer time deposits were up 9 percent from fourth quarter of 2009 and increased 23 percent from the same period the previous year.

Retail average core deposits increased 1 percent sequentially and 3 percent from the first quarter of 2009. Sequential growth in savings, interest checking, and foreign deposits was partially offset by a decline in consumer CD balances. On a year-over-year basis, growth in savings, foreign deposits, and interest checking was partially offset by lower money market and consumer CD balances. Commercial average core deposits increased 20 percent sequentially and 46 percent from the previous year, reflecting excess customer liquidity. Sequential growth was driven by a $1.9 billion increase in average public funds balances and year-over-year growth was driven by interest checking and DDA, due to higher average account balances.

Noninterest Income

	For the Three Months Ended												% Change
	March 2010		December 2009		September 2009			June 2009		March 2009			Seq		Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	142	$	159	$	164		$	162	$	146		(11	%)	(3	%)
Corporate banking revenue		81		89		77			93		113		(8	%)	(28	%)
Mortgage banking net revenue		152		132		140			147		134		15	%	14	%
Investment advisory revenue		91		86		82			79		79		5	%	14	%
Card and processing revenue		73		76		74			243		223		(4	%)	(67	%)
Gain on sale of processing business		—		—		(6	)		1,764		—		NM		NM
Other noninterest income		74		107		312			49		10		(30	%)	633	%
Securities gains (losses), net		14		2		8			5		(24	)	600	%	NM
Securities gains, net - non-qualifying hedges on mortgage servicing rights		—		—		—			41		16		NM		(100	%)
Total noninterest income	$	627	$	651	$	851		$	2,583	$	697		(4	%)	(10	%)

NM: Not Meaningful

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Noninterest income of $627 million decreased $24 million sequentially and $70 million from a year ago. Sequential growth in mortgage banking and investment advisory revenue was more than offset by declines in corporate banking revenue, service charges on deposits, and other noninterest income. The decline from a year ago was driven by the effect of processing business sale.

Noninterest income was negatively impacted by both a $9 million decline in fair value on a total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares and $2 million in mark-to-market adjustments on warrants related to the processing business sale. Results benefited from $13 million in revenue associated with the transition service agreement (TSA) entered into as part of our processing business sale, under which the Bancorp provides services to the processing business to support its operations during the deconversion period. Fourth quarter 2009 results included a benefit of $20 million in mark-to-market adjustments on warrants related to the processing business sale and $39 million in revenue from the TSA. First quarter 2009 results included $54 million in charges related to one of our BOLI policies. Excluding these items, as well as investment securities gains/losses in all periods, noninterest income increased by $21 million, or 4 percent, from the previous quarter, driven by strong mortgage banking revenue and lower credit-related costs, partially offset by the effects of seasonality. On the same basis, the $164 million, or 21 percent, decrease from the first quarter of 2009 was largely due to merchant processing and financial institution revenue in the first quarter of 2009 that was included with the processing business sale on June 30, 2009.

Service charges on deposits of $142 million declined 11 percent sequentially and 3 percent compared with the same quarter last year. Retail service charges declined 16 percent from the previous quarter and 5 percent compared with the first quarter of 2009. The sequential decline was largely driven by seasonality as well as a reduction of NSF fees related to fewer occurrences. The year-over-year decline was largely driven by the changes in overdraft policies. Commercial service charges decreased 6 percent sequentially and 1 percent versus last year, reflecting seasonality and higher client use of compensating balances to pay for treasury management services.

Corporate banking revenue of $81 million decreased 8 percent from seasonally strong fourth quarter 2009 results and declined 28 percent from the same period the previous year. Sequential results were driven by declines in business lending fees, foreign exchange revenue, and institutional sales, partially offset by modest growth in interest rate derivative sales revenue. On a year-over-year basis, lower foreign exchange and interest rate derivative sales revenue more than offset growth in institutional sales and business lending fees. Results were impacted by a significant effect of lower loan demand and volume, affecting sales of corporate bonds and loan-related services such as interest rate derivatives.

Mortgage banking net revenue was $152 million in the first quarter of 2010, an increase of $20 million from fourth quarter 2009 results and an increase of $18 million from the first quarter of 2009. First quarter 2010 originations of $3.5 billion declined from strong levels of $4.8 billion in the previous quarter and $5.0 billion in

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the first quarter of 2009. First quarter 2010 originations resulted in gains of $70 million on mortgages sold compared with gains of $97 million during the previous quarter and $130 million during the same period in 2009. Net servicing revenue, before MSR valuation adjustments, totaled $31 million in the first quarter, compared with $26 million last quarter and $2 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 $51 million in the first quarter of 2010, compared with a net gain of $9 million last quarter and a net gain of $1 million a year ago. The mortgage-servicing asset, net of the valuation reserve, was $725 million at quarter end on a servicing portfolio of $50 billion.

Investment advisory revenue of $91 million was up 5 percent sequentially and up 14 percent from the first quarter of 2009. Sequential results were driven by seasonal growth in tax-related private client services fees and brokerage fees, partially offset by declines in institutional trust and mutual fund fees. On a year-over-year basis, growth in brokerage fees, private client services, and institutional trust revenue, primarily due to higher retail trading volumes and market value increases, was offset by lower mutual fund fees.

Card and processing revenue was $73 million in the first quarter of 2010, a decrease of 4 percent from the previous quarter due to seasonality. Results in the first quarter of 2009 included $155 million in merchant processing revenue and financial institutions revenue, which are now part of the processing business that was sold. Excluding the divested revenue, card and processing revenue increased by $5 million, or 8 percent, from the previous year due to growth in debit card transaction volumes.

Other noninterest income totaled $74 million in the first quarter of 2010 versus $107 million in the previous quarter and $10 million in the first quarter of 2009. First quarter 2010 results included the previously mentioned $9 million decline in fair value on a total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares, and $2 million decline in the valuation of warrants related to the processing business sale. First quarter results also included $13 million of TSA revenue and $5 million of revenue from our equity interest in the processing business. Fourth quarter 2009 results included a benefit of $20 million from the valuation of the processing business warrants, $39 million of TSA revenue, and $8 million of revenue from our processing business equity interest. First quarter 2009 results included $54 million in charges related to one of our BOLI policies. Excluding these items, other noninterest income increased $27 million from the previous quarter and $3 million from the first quarter of 2009. Credit-related costs recognized in noninterest income were $1 million in the first quarter of 2010, versus $30 million last quarter and $3 million in the first quarter of 2009. This quarter, we realized $25 million of net gains on the sale of loans held-for-sale which were offset by $9 million of fair value charges on commercial loans held-for-sale and $16 million of losses on the sale of other real estate owned (OREO). Fourth quarter 2009 results included net gains of $8 million on sale of loans held-for-sale, $17 million of fair value charges on commercial loans held-for-sale, and $21 million of losses on the sale of OREO. First quarter 2009 results included net gains of $11 million on the sale of loans, offset by $14 million of losses on the sale of OREO.

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There were no net securities gains on non-qualifying hedges on MSRs in the first quarter of 2010 or in the previous quarter while first quarter 2009 results included gains of $16 million.

Net gains on investment securities were $14 million in the first quarter of 2010, compared with securities gains of $2 million in the previous quarter and net losses of $24 million in the same period the previous year.

Noninterest Expense

	For the Three Months Ended										% Change
	March 2010		December 2009		September 2009		June 2009		March 2009		Seq		Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	329	$	331	$	335	$	346	$	327	(1	%)	1	%
Employee benefits		86		69		83		75		83	24	%	3	%
Net occupancy expense		76		75		75		79		79	2	%	(3	%)
Technology and communications		45		47		43		45		45	(5	%)	—
Equipment expense		30		31		30		31		31	(4	%)	(5	%)
Card and processing expense		25		27		25		75		67	(7	%)	(63	%)
Other noninterest expense		365		387		285		370		330	(6	%)	11	%
Total noninterest expense	$	956	$	967	$	876	$	1,021	$	962	(1	%)	(1	%)

Noninterest expense of $956 million decreased $11 million sequentially and decreased $6 million from a year ago. Other noninterest expense included a $4 million charge to increase the litigation reserve associated with bank card association memberships, compared with $22 million of such charges in the fourth quarter of 2009. During the first quarter we incurred approximately $13 million in operating expenses related to the processing business that were offset with revenue under the TSA reported in other noninterest income. TSA related expenses were $39 million in the fourth quarter of 2009. First quarter 2009 results included $8 million in severance expense. Excluding these items, first quarter 2010 noninterest expense increased by $33 million from the previous quarter, or 4 percent, and decreased by $15 million from a year ago, or 2 percent. This remaining sequential increase reflected an $18 million increase in credit-related expenses, outlined below, as well as a $16 million seasonal increase in FICA and unemployment costs. The decrease from a year ago was primarily driven by lower provision expense for unfunded commitments.

Expenses incurred related to problem assets totaled $91 million in the first quarter of 2010, compared with $73 million in the fourth quarter and $94 million in the first quarter of 2009. Noninterest expenses related to mortgage repurchase reserves were $39 million, compared with $18 million in the fourth quarter of 2009 and $6 million a year ago. (Realized repurchase losses realized were $13 million in the first quarter of 2010, compared with $14 million and $10 million in the fourth and first quarters of 2009.) Provision expense for unfunded commitments was $9 million in the first quarter of 2010 versus $11 million last quarter and $36 million a year ago. Derivative valuation adjustments related to customer credit risk resulted in an $8 million expense this quarter versus a $2 million gain last quarter and a $15 million expense a year ago. OREO expense was $6 million this quarter, compared with $9 million last quarter and $4 million a year ago. Other work-out related expenses were $29 million in the first quarter, compared with $37 million the previous quarter and $32 million in the same period last year.

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Credit Quality

	For the Three Months Ended
	March 2010			December 2009			September 2009			June 2009			March 2009
Total net losses charged off ($ in millions)
Commercial and industrial loans	($	161	)	($	183	)	($	256	)	($	177	)	($	103	)
Commercial mortgage loans		(99	)		(142	)		(118	)		(85	)		(77	)
Commercial construction loans		(78	)		(135	)		(126	)		(79	)		(76	)
Commercial leases		(4	)		(8	)		—			(1	)		—
Residential mortgage loans		(88	)		(78	)		(92	)		(112	)		(75	)
Home equity		(73	)		(82	)		(80	)		(88	)		(72	)
Automobile loans		(31	)		(32	)		(34	)		(36	)		(46	)
Credit card		(44	)		(44	)		(45	)		(45	)		(36	)
Other consumer loans and leases		(4	)		(4	)		(5	)		(3	)		(5	)
Total net losses charged off		(582	)		(708	)		(756	)		(626	)		(490	)
Total losses		(622	)		(743	)		(796	)		(658	)		(521	)
Total recoveries		40			35			40			32			31
Total net losses charged off	($	582	)	($	708	)	($	756	)	($	626	)	($	490	)
Ratios (annualized)
Net losses charged off as a percent of average loans and leases (excluding held for sale)		3.01	%		3.62	%		3.75	%		3.08	%		2.38	%
Commercial		3.07	%		4.08	%		4.17	%		2.81	%		2.08	%
Consumer		2.93	%		2.97	%		3.13	%		3.48	%		2.82	%

Net charge-offs were $582 million in the first quarter of 2010, or 301 bps of average loans on an annualized basis. Fourth quarter net charge-offs were $708 million, or 362 bps of average loans on an annualized basis. Loss experience overall continues to be disproportionately affected by commercial and residential real estate loans in Michigan and Florida. In aggregate, Florida and Michigan represented approximately 46 percent of total losses during the quarter and 27 percent of total loans and leases.

Commercial net charge-offs were $342 million, or 307 bps, in the first quarter of 2010, a decrease of $126 million from the fourth quarter of 2009. Within the commercial portfolio, C&I losses were $161 million, a decrease of $22 million from the previous quarter. Within C&I, losses on loans to companies in real estate-related industries were $51 million, a decrease of $20 million from the previous quarter. Commercial mortgage net losses totaled $99 million, a decrease of $43 million from the previous quarter, with Michigan and Florida accounting for 53 percent of losses. Commercial construction net losses were $78 million, a decrease of $57 million from the previous quarter, with Michigan and Florida accounting for 40 percent of losses. Across all commercial portfolios, net losses on residential builder and developer portfolio loans totaled $81 million, down $29 million from the fourth quarter. These homebuilder losses included $39 million on commercial construction loans, $37 million on commercial mortgage loans, and $5 million on C&I loans. Originations of homebuilder/developer loans were suspended in 2007 and the remaining portfolio balance totals $1.3 billion.

Consumer net charge-offs of $240 million, or 293 bps, were flat compared with the fourth quarter of 2009. Net charge-offs within the residential mortgage portfolio were $88 million, an increase of $10 million from the previous quarter, with losses in Michigan and Florida representing 68 percent of losses in the first quarter and approximately 42 percent of total residential mortgage loans. Home equity net charge-offs of $73 million

10

decreased $9 million sequentially, with Michigan and Florida representing 44 percent of first quarter home equity losses and 29 percent of total home equity loans. Net losses on brokered home equity loans were $29 million, down $5 million sequentially, and represented 40 percent of first quarter home equity losses and 16 percent of the total home equity portfolio. The home equity portfolio included $1.9 billion of brokered loans; originations of these loans were discontinued in 2007. Net charge-offs in the auto portfolio of $31 million decreased $1 million from the fourth quarter of 2009 and net losses on consumer credit card loans were $44 million, consistent with the previous quarter.

	For the Three Months Ended
	March 2010			December 2009			September 2009			June 2009			March 2009
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	3,749		$	3,681		$	3,485		$	3,070		$	2,787
Impact of cumulative effect of change in accounting principle		45			—			—			—			—
Total net losses charged off		(582	)		(708	)		(756	)		(626	)		(490	)
Provision for loan and lease losses		590			776			952			1,041			773
Allowance for loan and lease losses, ending		3,802			3,749			3,681			3,485			3,070
Reserve for unfunded commitments, beginning		294			284			239			231			195
Impact of cumulative effect of change in accounting principle		(43	)		—			—			—			—
Provision for unfunded commitments		9			10			45			8			36
Reserve for unfunded commitments, ending		260			294			284			239			231
Components of allowance for credit losses:
Allowance for loan and lease losses		3,802			3,749			3,681			3,485			3,070
Reserve for unfunded commitments		260			294			284			239			231
Total allowance for credit losses	$	4,062		$	4,043		$	3,965		$	3,724		$	3,301
Allowance for loan and lease losses ratio
As a percent of loans and leases		4.91	%		4.88	%		4.69	%		4.28	%		3.72	%
As a percent of nonperforming loans and leases (a) (b)		139	%		127	%		125	%		135	%		128	%
As a percent of nonperforming assets (a) (b)		122	%		116	%		114	%		123	%		116	%

(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.

Provision for loan and lease losses totaled $590 million in the first quarter of 2010, down $186 million from the fourth quarter and exceeding net charge-offs by $8 million. The allowance for loan and lease losses represented 4.91 percent of total loans and leases outstanding as of quarter end, compared with 4.88 percent last quarter, and represented 139 percent of nonperforming loans and leases and 161 percent of first quarter annualized net charge-offs.

11

	As of
	March 2010			December 2009			September 2009			June 2009			March 2009
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	746		$	734		$	752		$	603		$	667
Commercial mortgage loans		853			898			912			760			692
Commercial construction loans		479			646			697			684			551
Commercial leases		55			67			51			51			27
Residential mortgage loans		266			275			267			262			265
Home equity		23			21			24			26			25
Automobile loans		1			1			1			1			2
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual loans and leases	$	2,423		$	2,642		$	2,704		$	2,387		$	2,229
Restructured loans and leases - commercial (non accrual)		39			47			18			12			—
Restructured loans and leases - consumer (non accrual)		271			258			225			188			167
Total nonperforming loans and leases	$	2,733		$	2,947		$	2,947		$	2,587		$	2,396
Repossessed personal property		21			22			22			21			25
Other real estate owned (a)		375			275			251			232			227
Total nonperforming assets (b)	$	3,129		$	3,244		$	3,220		$	2,840		$	2,648
Nonaccrual loans held for sale		239			220			286			352			403
Restructured loans - commercial (non accrual) held for sale		4			4			2			—			—
Total nonperforming assets including loans held for sale	$	3,372		$	3,468		$	3,508		$	3,192		$	3,051
Restructured Consumer loans and leases (accrual)	$	1,480		$	1,392		$	1,280		$	1,074		$	615
Restructured Commercial loans and leases (accrual)	$	76		$	68			—			—			—
Total loans and leases 90 days past due	$	436		$	567		$	992		$	762		$	733
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (b)		3.51	%		3.82	%		3.75	%		3.17	%		2.89	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (b)		4.02	%		4.22	%		4.09	%		3.48	%		3.20	%

(a) Excludes government insured advances.

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

Nonperforming assets (NPAs) at quarter end were $3.1 billion or 4.02 percent of total loans, leases and OREO, and decreased $115 million, or 4 percent, from the previous quarter. Including $243 million of nonaccrual loans classified as held-for-sale, total NPAs were $3.4 billion and were down $96 million, or 3 percent compared with the fourth quarter. In aggregate, Florida and Michigan represented approximately 45 percent of NPAs in the loan portfolio. Total NPAs are currently carried at approximately 59 percent of their original face value through the process of taking charge-offs, purchase accounting marks, and specific reserves recorded through the first quarter.

Commercial NPAs at quarter-end were $2.4 billion, or 5.39 percent of commercial loans, leases and OREO, and declined $126 million, or 5 percent, from the fourth quarter of 2009. Commercial construction portfolio NPAs were $569 million, a decline of $138 million from the fourth quarter of 2009. Commercial mortgage NPAs were $1 billion, a sequential increase of $17 million. Commercial real estate loans in Michigan and Florida represented 47 percent of commercial real estate NPAs and 38 percent of our total commercial real estate portfolio. C&I portfolio NPAs of $788 million increased $7 million from the previous quarter. Within the commercial loan portfolio, residential real estate builder and developer portfolio NPAs were down $28 million from the fourth quarter to $520 million, of which $232 million were commercial construction assets, $265 million were commercial mortgage assets and $23 million were C&I assets. Commercial NPAs included $39 million of nonaccrual troubled debt restructurings (TDRs), compared with $47 million last quarter.

12

At quarter-end, $243 million of commercial nonaccrual loans were held-for-sale, compared with $224 million at the end of the fourth quarter, and included $80 million from loans transferred to held-for-sale during the first quarter. During the quarter, we also transferred $28 million of loans from loans held-for-sale to OREO. Loans held-for-sale are carried at the lower of cost or market, and this portfolio is currently recorded at 32 percent of original balances. We recorded negative valuation adjustments of $9 million on held-for-sale loans and we recorded net gains of $25 million on loans that were sold or settled, including loans moved to held-for-sale and sold during the quarter.

Consumer NPAs of $715 million, or 2.16 percent of consumer loans, leases and OREO, increased $10 million, or 1 percent, from the fourth quarter of 2009. Of consumer NPAs, $590 million were in residential real estate portfolios. Residential mortgage NPAs were $521 million, down $2 million from the previous quarter. Home equity NPAs decreased $1 million from last quarter to $70 million. Residential real estate loans in Michigan and Florida represented 59 percent of total residential real estate NPAs and 34 percent of total residential real estate loans. Consumer nonaccrual TDRs were $271 million in the first quarter of 2010, compared with $258 million in the fourth quarter of 2009.

First quarter OREO balances included in NPAs were $375 million compared with $275 million in the fourth quarter of 2009, and included $220 million in commercial real estate assets, $113 million in residential mortgage assets, and $20 million in home equity assets. Repossessed personal property of $21 million largely consisted of autos.

Loans still accruing over 90 days past due were $436 million, down $131 million from the fourth quarter of 2009. Commercial balances 90 days past due declined $78 million to $120 million in the first quarter of 2010. Consumer balances 90 days past due of $316 million declined by $53 million from the previous quarter. Loans 30-89 days past due of $917 million increased $22 million or 2 percent from the fourth quarter. Commercial balances 30-89 days past due were up $34 million sequentially and consumer balances 30-89 days past due were down $12 million from the fourth quarter.

13

Capital Position

	For the Three Months Ended
	March 2010		December 2009		September 2009		June 2009		March 2009
Capital Position
Average shareholders’ equity to average assets	11.92	%	12.31	%	12.24	%	10.78	%	10.18	%
Tangible equity (a)	9.67	%	9.71	%	10.08	%	9.72	%	7.89	%
Tangible common equity (excluding unrealized gains/losses) (a)	6.37	%	6.45	%	6.74	%	6.55	%	4.23	%
Tangible common equity (including unrealized gains/losses) (a)	6.61	%	6.64	%	6.98	%	6.67	%	4.35	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (a) (b)	7.04	%	7.06	%	7.07	%	6.96	%	4.51	%
Regulatory capital ratios: (c)
Tier I capital	13.40	%	13.31	%	13.19	%	12.90	%	10.93	%
Total risk-based capital	17.55	%	17.48	%	17.43	%	16.96	%	15.13	%
Tier I leverage	12.00	%	12.43	%	12.34	%	12.17	%	10.29	%
Tier I common equity	6.97	%	7.00	%	7.01	%	6.94	%	4.50	%
Book value per share	12.31		12.44		12.69		12.71		13.61
Tangible book value per share (a)	9.16		9.26		9.50		9.51		8.79

(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.

Capital ratios were relatively stable during the quarter and included the effect of the consolidation of certain of our off-balance sheet conduits at the beginning of the quarter. The corresponding cumulative effect of change in accounting principle reduced equity by $77 million. Compared with the prior quarter, the Tier 1 common equity ratio decreased 3 bps to 6.97 percent, the Tier 1 capital ratio increased 9 bps to 13.40 percent, and the total capital ratio increased 7 bps to 17.55 percent. The tangible common equity to tangible assets ratio decreased 8 bps to 6.37 percent. Book value per share at March 31, 2010 was $12.31 and tangible book value per share was $9.16, compared with December 31, 2009 book value per share of $12.44 and tangible book value per share of $9.26.

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).

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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, May 6^th by dialing 800-642-1687 for domestic access and 706-645-9291 for international access (passcode 65786356#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of March 31, 2010, the Company has $113 billion in assets, operates 16 affiliates with 1,309 full-service Banking Centers, including 103 Bank Mart^® locations open seven days a week inside select grocery stores and 2,364 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 March 31, 2010, had $190 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. 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) difficulties in separating Fifth Third Processing Solutions from Fifth Third; (21) 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; (22) ability to secure confidential information through the use of computer systems and telecommunications networks; and (23) 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 March 31, 2010

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	24-25
Summary of Loans and Leases	26
Regulatory Capital	27
Summary of Credit Loss Experience	28
Asset Quality	29
Regulation G Non-GAAP Reconciliation	30
Segment Presentation	31

16

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended									% Change
	March 2010			December 2009			March 2009			Seq		Yr/Yr
Income Statement Data
Net interest income (a)	$	901		$	882		$	781		2	%	15	%
Noninterest income		627			651			697		(4	%)	(10	%)
Total revenue (a)		1,528			1,533			1,478		—		3	%
Provision for loan and lease losses		590			776			773		(24	%)	(24	%)
Noninterest expense		956			967			962		(1	%)	(1	%)
Net income (loss)		(10	)		(98	)		50		(89	%)	NM
Net income (loss) available to common shareholders		(72	)		(160	)		(26	)	(55	%)	175	%
Common Share Data
Earnings per share, basic	($	0.09	)	($	0.20	)	($	0.04	)	(55	%)	125	%
Earnings per share, diluted		(0.09	)		(0.20	)		(0.04	)	(55	%)	125	%
Cash dividends per common share		0.01			0.01			0.01		—		—
Book value per share		12.31			12.44			13.61		(1	%)	(10	%)
Market price per share		13.56			9.75			2.92		39	%	364	%
Common shares outstanding (in thousands)		794,816			795,068			576,936		—		38	%
Average common shares outstanding (in thousands):
Basic		790,473			790,442			571,810		—		38	%
Diluted		790,473			790,442			571,810		—		38	%
Market capitalization	$	10,778		$	7,752		$	1,685		39	%	540	%
Financial Ratios
Return on assets		(0.04	%)		(0.35	%)		0.17	%	(89	%)	NM
Return on average common equity		(3.0	%)		(6.3	%)		(1.4	%)	(52	%)	114	%
Noninterest income as a percent of total revenue		41	%		42	%		47	%	(2	%)	(13	%)
Average equity as a percent of average assets		11.92	%		12.31	%		10.18	%	(3	%)	17	%
Tangible equity (b) (d)		9.67	%		9.71	%		7.89	%	—		23	%
Tangible common equity (c) (d)		6.37	%		6.45	%		4.23	%	(1	%)	51	%
Net interest margin (a)		3.63	%		3.55	%		3.06	%	2	%	19	%
Efficiency (a)		62.6	%		63.1	%		65.1	%	(1	%)	(4	%)
Effective tax rate		53.0	%		54.4	%		(119.0	%)	(3	%)	NM
Credit Quality
Net losses charged off	$	582		$	708		$	490		(18	%)	19	%
Net losses charged off as a percent of average loans and leases		3.01	%		3.62	%		2.38	%	(17	%)	26	%
Allowance for loan and lease losses as a percent of loans and leases		4.91	%		4.88	%		3.72	%	1	%	32	%
Allowance for credit losses as a percent of loans and leases		5.25	%		5.27	%		4.00	%	—		31	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		4.02	%		4.22	%		3.20	%	(5	%)	26	%
Average Balances
Loans and leases, including held for sale	$	80,136		$	79,920		$	85,829		—		(7	%)
Total securities and other short-term investments		20,559			18,869			17,835		9	%	15	%
Total assets		113,433			111,505			118,681		2	%	(4	%)
Transaction deposits (f)		64,203			58,796			52,347		9	%	23	%
Core deposits (g)		76,262			71,845			66,848		6	%	14	%
Wholesale funding (h)		20,215			22,107			34,902		(9	%)	(42	%)
Shareholders’ equity		13,518			13,724			12,084		(2	%)	12	%
Regulatory Capital Ratios (i)
Tier I capital		13.40	%		13.31	%		10.93	%	1	%	23	%
Total risk-based capital		17.55	%		17.48	%		15.13	%	—		16	%
Tier I leverage		12.00	%		12.43	%		10.29	%	(3	%)	17	%
Tier I common equity		6.97	%		7.00	%		4.50	%	—		55	%
Operations
Banking centers		1,309			1,309			1,311		—		—
ATMs		2,364			2,358			2,354		—		—
Full-time equivalent employees		20,038			20,998			20,618		(5	%)	(3	%)

(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
	March 2010			December 2009			September 2009			June 2009			March 2009
Income Statement Data
Net interest income (a)	$	901		$	882		$	874		$	836		$	781
Noninterest income		627			651			851			2,583			697
Total revenue (a)		1,528			1,533			1,725			3,419			1,478
Provision for loan and lease losses		590			776			952			1,041			773
Noninterest expense		956			967			876			1,021			962
Net income (loss)		(10	)		(98	)		(97	)		882			50
Net income (loss) available to common shareholders		(72	)		(160	)		(159	)		856			(26	)
Common Share Data
Earnings per share, basic	($	0.09	)	($	0.20	)	($	0.20	)	$	1.35		($	0.04	)
Earnings per share, diluted		(0.09	)		(0.20	)		(0.20	)		1.15			(0.04	)
Cash dividends per common share		0.01			0.01			0.01			0.01			0.01
Book value per share		12.31			12.44			12.69			12.71			13.61
Market price per share		13.56			9.75			10.13			7.10			2.92
Common shares outstanding (in thousands)		794,816			795,068			795,316			795,313			576,936
Average common shares outstanding (in thousands):
Basic		790,473			790,442			790,334			629,789			571,810
Diluted		790,473			790,442			790,334			718,245			571,810
Market capitalization	$	10,778		$	7,752		$	8,057		$	5,647		$	1,685
Financial Ratios
Return on assets		(0.04	%)		(0.35	%)		(0.34	%)		3.05	%		0.17	%
Return on average common equity		(3.0	%)		(6.3	%)		(6.1	%)		41.2	%		(1.4	%)
Noninterest income as a percent of total revenue		41	%		42	%		49	%		76	%		47	%
Average equity as a percent of average assets		11.92	%		12.31	%		12.24	%		10.78	%		10.18	%
Tangible equity (b) (d)		9.67	%		9.71	%		10.08	%		9.72	%		7.89	%
Tangible common equity (c) (d)		6.37	%		6.45	%		6.74	%		6.55	%		4.23	%
Net interest margin (a)		3.63	%		3.55	%		3.43	%		3.26	%		3.06	%
Efficiency (a)		62.6	%		63.1	%		50.8	%		29.9	%		65.1	%
Effective tax rate		53.0	%		54.4	%		10.2	%		34.7	%		(119.0	%)
Credit Quality
Net losses charged off	$	582		$	708		$	756		$	626		$	490
Net losses charged off as a percent of average loans and leases		3.01	%		3.62	%		3.75	%		3.08	%		2.38	%
Allowance for loan and lease losses as a percent of loans and leases		4.91	%		4.88	%		4.69	%		4.28	%		3.72	%
Allowance for credit losses as a percent of loans and leases		5.25	%		5.27	%		5.06	%		4.57	%		4.00	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		4.02	%		4.22	%		4.09	%		3.48	%		3.20	%
Average Balances
Loans and leases, including held for sale	$	80,136		$	79,920		$	82,888		$	84,996		$	85,829
Total securities and other short-term investments		20,559			18,869			18,065			17,762			17,835
Total assets		113,433			111,505			113,453			115,878			118,681
Transaction deposits (f)		64,203			58,796			55,607			54,115			52,347
Core deposits (g)		76,262			71,845			69,871			68,727			66,848
Wholesale funding (h)		20,215			22,107			25,947			31,369			34,902
Shareholders’ equity		13,518			13,724			13,885			12,490			12,084
Regulatory Capital Ratios (i)
Tier I capital		13.40	%		13.31	%		13.19	%		12.90	%		10.93	%
Total risk-based capital		17.55	%		17.48	%		17.43	%		16.96	%		15.13	%
Tier I leverage		12.00	%		12.43	%		12.34	%		12.17	%		10.29	%
Tier I common equity		6.97	%		7.00	%		7.01	%		6.94	%		4.50	%
Operations
Banking centers		1,309			1,309			1,306			1,306			1,311
ATMs		2,364			2,358			2,372			2,355			2,354
Full-time equivalent employees		20,038			20,998			20,559			20,702			20,618

(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
	March 2010			December 2009			March 2009			Seq		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	960		$	957		$	997		—		(4	%)
Interest on securities		182			186			180		(2	%)	1	%
Interest on other short-term investments		1			—			1		NM		—
Total interest income		1,143			1,143			1,178		—		(3	%)
Interest Expense
Interest on deposits		171			194			274		(12	%)	(38	%)
Interest on short-term borrowings		1			2			24		(44	%)	(96	%)
Interest on long-term debt		74			69			104		8	%	(29	%)
Total interest expense		246			265			402		(7	%)	(39	%)
Net Interest Income		897			878			776		2	%	16	%
Provision for loan and lease losses		590			776			773		(24	%)	(24	%)
Net interest income (loss) after provision for loan and lease losses		307			102			3		202	%	NM
Noninterest Income
Service charges on deposits		142			159			146		(11	%)	(3	%)
Corporate banking revenue		81			89			113		(8	%)	(28	%)
Mortgage banking net revenue		152			132			134		15	%	14	%
Investment advisory revenue		91			86			79		5	%	14	%
Card and processing revenue		73			76			223		(4	%)	(67	%)
Other noninterest income		74			107			10		(30	%)	633	%
Securities gains (losses), net		14			2			(24	)	600	%	NM
Securities gains, net - non-qualifying hedges on mortgage servicing rights		—			—			16		NM		NM
Total noninterest income		627			651			697		(4	%)	(10	%)
Noninterest Expense
Salaries, wages and incentives		329			331			327		(1	%)	1	%
Employee benefits		86			69			83		24	%	3	%
Net occupancy expense		76			75			79		2	%	(3	%)
Technology and communications		45			47			45		(5	%)	—
Equipment expense		30			31			31		(4	%)	(5	%)
Card and processing expense		25			27			67		(7	%)	(63	%)
Other noninterest expense		365			387			330		(6	%)	11	%
Total noninterest expense		956			967			962		(1	%)	(1	%)
Income (loss) before income taxes		(22	)		(214	)		(262	)	(90	%)	(92	%)
Applicable income taxes		(12	)		(116	)		(312	)	(90	%)	(96	%)
Net income (loss)		(10	)		(98	)		50		(89	%)	NM
Dividends on preferred stock		62			62			76		—		(18	%)
Net income (loss) available to common shareholders	($	72	)	($	160	)	($	26	)	(55	%)	175	%

19

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	March 2010			December 2009			September 2009			June 2009			March 2009
Interest Income
Interest and fees on loans and leases	$	960		$	957		$	986		$	995		$	997
Interest on securities		182			186			183			184			180
Interest on other short-term investments		1			—			—			—			1
Total interest income		1,143			1,143			1,169			1,179			1,178
Taxable equivalent adjustment		4			4			5			5			5
Total interest income (taxable equivalent)		1,147			1,147			1,174			1,184			1,183
Interest Expense
Interest on deposits		171			194			228			258			274
Interest on short-term borrowings		1			2			4			12			24
Interest on long-term debt		74			69			68			78			104
Total interest expense		246			265			300			348			402
Net interest income (taxable equivalent)		901			882			874			836			781
Provision for loan and lease losses		590			776			952			1,041			773
Net interest income (loss) (taxable equivalent) after provision for loan and lease losses		311			106			(78	)		(205	)		8
Noninterest Income
Service charges on deposits		142			159			164			162			146
Corporate banking revenue		81			89			77			93			113
Mortgage banking net revenue		152			132			140			147			134
Investment advisory revenue		91			86			82			79			79
Card and processing revenue		73			76			74			243			223
Gain on sale of processing business		—			—			(6	)		1,764			—
Other noninterest income		74			107			312			49			10
Securities gains (losses), net		14			2			8			5			(24	)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		—			—			—			41			16
Total noninterest income		627			651			851			2,583			697
Noninterest Expense
Salaries, wages and incentives		329			331			335			346			327
Employee benefits		86			69			83			75			83
Net occupancy expense		76			75			75			79			79
Technology and communications		45			47			43			45			45
Equipment expense		30			31			30			31			31
Card and processing expense		25			27			25			75			67
Other noninterest expense		365			387			285			370			330
Total noninterest expense		956			967			876			1,021			962
Income (loss) before income taxes (taxable equivalent)		(18	)		(210	)		(103	)		1,357			(257	)
Taxable equivalent adjustment		4			4			5			5			5
Income (loss) before income taxes		(22	)		(214	)		(108	)		1,352			(262	)
Applicable income taxes		(12	)		(116	)		(11	)		470			(312	)
Net income (loss)		(10	)		(98	)		(97	)		882			50
Dividends on preferred stock		62			62			62			26			76
Net income (loss) available to common shareholders	($	72	)	($	160	)	($	159	)	$	856		($	26	)

20

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

		As of									% Change
		March 2010			December 2009			March 2009			Seq		Yr/Yr
Assets
Cash and due from banks		$	2,133		$	2,318		$	2,491		(8	%)	(14	%)
Available-for-sale and other securities (a)	��		16,935			18,213			16,916		(7	%)	—
Held-to-maturity securities (b)			355			355			358		—		(1	%)
Trading securities			305			355			1,407		(14	%)	(78	%)
Other short-term investments			3,904			3,369			1,587		16	%	146	%
Loans held for sale			1,607			2,067			2,602		(22	%)	(38	%)
Portfolio loans and leases:
Commercial and industrial loans			26,131			25,683			28,617		2	%	(9	%)
Commercial mortgage loans			11,744			11,803			12,560		—		(6	%)
Commercial construction loans			3,277			3,784			4,745		(13	%)	(31	%)
Commercial leases			3,388			3,535			3,521		(4	%)	(4	%)
Residential mortgage loans			7,918			8,035			8,875		(1	%)	(11	%)
Home equity			12,186			12,174			12,710		—		(4	%)
Automobile loans			10,180			8,995			8,688		13	%	17	%
Credit card			1,863			1,990			1,816		(6	%)	3	%
Other consumer loans and leases			736			780			1,037		(6	%)	(29	%)
Portfolio loans and leases			77,423			76,779			82,569		1	%	(6	%)
Allowance for loan and lease losses			(3,802	)		(3,749	)		(3,070	)	1	%	24	%
Portfolio loans and leases, net			73,621			73,030			79,499		1	%	(7	%)
Bank premises and equipment			2,384			2,400			2,490		(1	%)	(4	%)
Operating lease equipment			492			499			470		(2	%)	5	%
Goodwill			2,417			2,417			2,623		—		(8	%)
Intangible assets			94			106			154		(12	%)	(39	%)
Servicing rights			725			700			481		4	%	51	%
Other assets			7,679			7,551			8,235		2	%	(7	%)
Total assets		$	112,651		$	113,380		$	119,313		(1	%)	(6	%)
Liabilities
Deposits:
Demand		$	19,482		$	19,411		$	16,370		—		19	%
Interest checking			19,126			19,935			14,510		(4	%)	32	%
Savings			19,099			17,898			16,517		7	%	16	%
Money market			4,782			4,431			4,353		8	%	10	%
Foreign office			2,844			2,454			1,671		16	%	70	%
Other time			11,643			12,466			14,571		(7	%)	(20	%)
Certificates - $100,000 and over			6,596			7,700			11,784		(14	%)	(44	%)
Other			2			10			6		(84	%)	(73	%)
Total deposits			83,574			84,305			79,782		(1	%)	5	%
Federal funds purchased			271			182			363		49	%	(25	%)
Other short-term borrowings			1,359			1,415			11,076		(4	%)	(88	%)
Accrued taxes, interest and expenses			633			773			904		(18	%)	(30	%)
Other liabilities			2,459			2,701			2,908		(9	%)	(15	%)
Long-term debt			10,947			10,507			12,178		4	%	(10	%)
Total liabilities			99,243			99,883			107,211		(1	%)	(7	%)
Shareholders’ equity
Common stock			1,779			1,779			1,295		—		37	%
Preferred stock			3,620			3,609			4,252		—		(15	%)
Capital surplus			1,753			1,743			841		1	%	108	%
Retained earnings			6,169			6,326			5,792		(2	%)	6	%
Accumulated other comprehensive income (loss)			288			241			151		20	%	91	%
Treasury stock			(201	)		(201	)		(229	)	—		(12	%)
Total shareholders’ equity (c)			13,408			13,497			12,102		(1	%)	11	%
Total liabilities and shareholders’ equity		$	112,651		$	113,380		$	119,313		(1	%)	(6	%)
(a) Amortized cost		$	16,523		$	17,879		$	16,642		(8	%)	(1	%)
(b) Market values			355			355			358		—		(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			794,816			795,068			576,936		—		38	%
Treasury			6,688			6,436			6,491		4	%	3	%

21

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	March 2010			December 2009			September 2009			June 2009			March 2009
Assets
Cash and due from banks	$	2,133		$	2,318		$	2,130		$	2,899		$	2,491
Available-for-sale and other securities (a)		16,935			18,213			15,682			16,061			16,916
Held-to-maturity securities (b)		355			355			356			357			358
Trading securities		305			355			1,079			1,354			1,407
Other short-term investments		3,904			3,369			1,126			513			1,587
Loans held for sale		1,607			2,067			2,063			3,341			2,602
Portfolio loans and leases:
Commercial and industrial loans		26,131			25,683			26,175			28,409			28,617
Commercial mortgage loans		11,744			11,803			12,105			12,407			12,560
Commercial construction loans		3,277			3,784			4,147			4,491			4,745
Commercial leases		3,388			3,535			3,584			3,532			3,521
Residential mortgage loans		7,918			8,035			8,229			8,489			8,875
Home equity		12,186			12,174			12,377			12,511			12,710
Automobile loans		10,180			8,995			8,972			8,741			8,688
Credit card		1,863			1,990			1,973			1,914			1,816
Other consumer loans and leases		736			780			857			935			1,037
Portfolio loans and leases		77,423			76,779			78,419			81,429			82,569
Allowance for loan and lease losses		(3,802	)		(3,749	)		(3,681	)		(3,485	)		(3,070	)
Portfolio loans and leases, net		73,621			73,030			74,738			77,944			79,499
Bank premises and equipment		2,384			2,400			2,426			2,440			2,490
Operating lease equipment		492			499			486			474			470
Goodwill		2,417			2,417			2,417			2,417			2,623
Intangible assets		94			106			119			133			154
Servicing rights		725			700			626			595			481
Other assets		7,679			7,551			7,492			7,456			8,235
Total assets	$	112,651		$	113,380		$	110,740		$	115,984		$	119,313
Liabilities
Deposits:
Demand	$	19,482		$	19,411		$	17,666		$	17,202		$	16,370
Interest checking		19,126			19,935			15,168			14,630			14,510
Savings		19,099			17,898			17,098			16,819			16,517
Money market		4,782			4,431			4,378			4,193			4,353
Foreign office		2,844			2,454			2,356			2,244			1,671
Other time		11,643			12,466			13,725			14,540			14,571
Certificates - $100,000 and over		6,596			7,700			8,962			10,688			11,784
Other		2			10			5			504			6
Total deposits		83,574			84,305			79,358			80,820			79,782
Federal funds purchased		271			182			433			435			363
Other short-term borrowings		1,359			1,415			3,674			6,802			11,076
Accrued taxes, interest and expenses		633			773			878			959			904
Other liabilities		2,459			2,701			2,547			3,166			2,908
Long-term debt		10,947			10,507			10,162			10,102			12,178
Total liabilities		99,243			99,883			97,052			102,284			107,211
Shareholders’ equity
Common stock		1,779			1,779			1,779			1,779			1,295
Preferred stock		3,620			3,609			3,599			3,588			4,252
Capital surplus		1,753			1,743			1,729			1,722			841
Retained earnings		6,169			6,326			6,496			6,663			5,792
Accumulated other comprehensive income (loss)		288			241			285			152			151
Treasury stock		(201	)		(201	)		(200	)		(204	)		(229	)
Total shareholders’ equity (c)		13,408			13,497			13,688			13,700			12,102
Total liabilities and shareholders’ equity	$	112,651		$	113,380		$	110,740		$	115,984		$	119,313
(a) Amortized cost	$	16,523		$	17,879		$	15,260		$	15,820		$	16,642
(b) Market values		355			355			356			357			358
(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		794,816			795,068			795,316			795,313			576,936
Treasury		6,688			6,436			6,188			6,191			6,491

22

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Shareholders’ Equity

$ in millions

(unaudited)

	For the Three Months Ended
	March 2010			March 2009
Total shareholders’ equity, beginning	$	13,497		$	12,077
Net income (loss)		(10	)		50
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		51			63
Qualifying cash flow hedges		(6	)		(12	)
Change in accumulated other comprehensive income related to employee benefit plans		2			2
Comprehensive income		37			103
Cash dividends declared:
Common stock		(8	)		(5	)
Preferred stock		(51	)		(66	)
Stock-based compensation expense		10			11
Impact of cumulative effect of change in accounting principle		(77	)		—
Change in corporate tax benefit related to stock-based compensation		—			(18	)
Total shareholders’ equity, ending	$	13,408		$	12,102

23

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended									% Change
	March 2010			December 2009			March 2009			Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	26,299		$	25,838		$	28,968		2	%	(9	%)
Commercial mortgage loans		11,836			12,126			12,809		(2	%)	(8	%)
Commercial construction loans		3,781			4,134			5,115		(9	%)	(26	%)
Commercial leases		3,468			3,574			3,564		(3	%)	(3	%)
Residential mortgage loans		9,478			10,142			10,921		(7	%)	(13	%)
Home equity		12,338			12,291			12,763		—		(3	%)
Automobile loans		10,185			8,973			8,687		14	%	17	%
Credit card		1,940			1,982			1,825		(2	%)	6	%
Other consumer loans and leases		811			860			1,177		(6	%)	(31	%)
Taxable securities		17,240			17,521			16,283		(2	%)	6	%
Tax exempt securities		175			205			262		(15	%)	(33	%)
Other short-term investments		3,144			1,143			1,290		175	%	144	%
Total interest-earning assets		100,695			98,789			103,664		2	%	(3	%)
Cash and due from banks		2,247			2,276			2,438		(1	%)	(8	%)
Other assets		14,262			14,084			15,363		1	%	(7	%)
Allowance for loan and lease losses		(3,771	)		(3,644	)		(2,784	)	4	%	35	%
Total assets	$	113,433		$	111,505		$	118,681		2	%	(4	%)
Liabilities
Interest-bearing liabilities:
Interest checking	$	19,533		$	16,324		$	14,229		20	%	37	%
Savings		18,469			17,540			16,272		5	%	13	%
Money market		4,622			4,279			4,559		8	%	1	%
Foreign office		2,757			2,516			1,755		10	%	57	%
Other time		12,059			13,049			14,501		(8	%)	(17	%)
Certificates - $100,000 and over		7,049			8,200			11,802		(14	%)	(40	%)
Other		8			51			247		(85	%)	(97	%)
Federal funds purchased		220			423			701		(48	%)	(69	%)
Other short-term borrowings		1,449			3,029			9,621		(52	%)	(85	%)
Long-term debt		11,489			10,404			12,531		10	%	(8	%)
Total interest-bearing liabilities		77,655			75,815			86,218		2	%	(10	%)
Demand deposits		18,822			18,137			15,532		4	%	21	%
Other liabilities		3,438			3,829			4,847		(10	%)	(29	%)
Total liabilities		99,915			97,781			106,597		2	%	(6	%)
Shareholders’ equity		13,518			13,724			12,084		(2	%)	12	%
Total liabilities and shareholders’ equity	$	113,433		$	111,505		$	118,681		2	%	(4	%)
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		4.61	%		4.48	%		4.00	%
Commercial mortgage loans		4.20	%		4.19	%		4.56	%
Commercial construction loans		2.92	%		2.65	%		3.35	%
Commercial leases		4.54	%		4.59	%		3.12	%
Residential mortgage loans		5.18	%		5.19	%		6.04	%
Home equity		4.02	%		4.06	%		4.28	%
Automobile loans		6.24	%		6.18	%		6.40	%
Credit card		10.76	%		9.66	%		10.89	%
Other consumer loans and leases		11.87	%		11.59	%		6.18	%
Total loans and leases		4.87	%		4.77	%		4.73	%
Taxable securities		4.23	%		4.17	%		4.39	%
Tax exempt securities		7.08	%		6.06	%		7.44	%
Other short-term investments		0.18	%		0.10	%		0.19	%
Total interest-earning assets		4.62	%		4.61	%		4.63	%
Interest-bearing liabilities:
Interest checking		0.28	%		0.27	%		0.27	%
Savings		0.67	%		0.70	%		0.89	%
Money market		0.46	%		0.51	%		0.72	%
Foreign office		0.34	%		0.36	%		0.54	%
Other time		2.75	%		2.95	%		3.62	%
Certificates - $100,000 and over		2.16	%		2.27	%		3.04	%
Other		0.02	%		0.09	%		0.23	%
Federal funds purchased		0.13	%		0.13	%		0.30	%
Other short-term borrowings		0.23	%		0.20	%		1.00	%
Long-term debt		2.64	%		2.65	%		3.36	%
Total interest-bearing liabilities		1.29	%		1.39	%		1.89	%
Ratios:
Net interest margin (taxable equivalent)		3.63	%		3.55	%		3.06	%
Net interest rate spread (taxable equivalent)		3.33	%		3.22	%		2.74	%
Interest-bearing liabilities to interest-earning assets		77.12	%		76.74	%		83.17	%

24

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	March 2010			December 2009			September 2009			June 2009			March 2009
Assets
Interest-earning assets:
Commercial and industrial loans	$	26,299		$	25,838		$	27,416		$	28,038		$	28,968
Commercial mortgage loans		11,836			12,126			12,449			12,668			12,809
Commercial construction loans		3,781			4,134			4,475			4,842			5,115
Commercial leases		3,468			3,574			3,522			3,512			3,564
Residential mortgage loans		9,478			10,142			10,820			11,669			10,921
Home equity		12,338			12,291			12,452			12,636			12,763
Automobile loans		10,185			8,973			8,871			8,692			8,687
Credit card		1,940			1,982			1,955			1,863			1,825
Other consumer loans and leases		811			860			928			1,076			1,177
Taxable securities		17,240			17,521			16,850			16,778			16,283
Tax exempt securities		175			205			246			242			262
Other short-term investments		3,144			1,143			969			742			1,290
Total interest-earning assets		100,695			98,789			100,953			102,758			103,664
Cash and due from banks		2,247			2,276			2,257			2,350			2,438
Other assets		14,262			14,084			13,724			13,907			15,363
Allowance for loan and lease losses		(3,771	)		(3,644	)		(3,481	)		(3,137	)		(2,784	)
Total assets	$	113,433		$	111,505		$	113,453		$	115,878		$	118,681
Liabilities
Interest-bearing liabilities:
Interest checking	$	19,533		$	16,324		$	14,869		$	14,837		$	14,229
Savings		18,469			17,540			16,967			16,705			16,272
Money market		4,622			4,279			4,280			4,167			4,559
Foreign office		2,757			2,516			2,432			1,717			1,755
Other time		12,059			13,049			14,264			14,612			14,501
Certificates - $100,000 and over		7,049			8,200			10,055			11,455			11,802
Other		8			51			95			240			247
Federal funds purchased		220			423			404			542			701
Other short-term borrowings		1,449			3,029			5,285			8,002			9,621
Long-term debt		11,489			10,404			10,108			11,130			12,531
Total interest-bearing liabilities		77,655			75,815			78,759			83,407			86,218
Demand deposits		18,822			18,137			17,059			16,689			15,532
Other liabilities		3,438			3,829			3,750			3,292			4,847
Total liabilities		99,915			97,781			99,568			103,388			106,597
Shareholders’ equity		13,518			13,724			13,885			12,490			12,084
Total liabilities and shareholders’ equity	$	113,433		$	111,505		$	113,453		$	115,878		$	118,681
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		4.61	%		4.48	%		4.36	%		4.06	%		4.00	%
Commercial mortgage loans		4.20	%		4.19	%		4.22	%		4.44	%		4.56	%
Commercial construction loans		2.92	%		2.65	%		2.74	%		2.80	%		3.35	%
Commercial leases		4.54	%		4.59	%		4.59	%		4.66	%		3.12	%
Residential mortgage loans		5.18	%		5.19	%		5.23	%		5.65	%		6.04	%
Home equity		4.02	%		4.06	%		4.10	%		4.14	%		4.28	%
Automobile loans		6.24	%		6.18	%		6.32	%		6.36	%		6.40	%
Credit card		10.76	%		9.66	%		9.87	%		10.06	%		10.89	%
Other consumer loans and leases		11.87	%		11.59	%		9.59	%		7.52	%		6.18	%
Total loans and leases		4.87	%		4.77	%		4.73	%		4.71	%		4.73	%
Taxable securities		4.23	%		4.17	%		4.24	%		4.33	%		4.39	%
Tax exempt securities		7.08	%		6.06	%		7.05	%		8.04	%		7.44	%
Other short-term investments		0.18	%		0.10	%		0.10	%		0.15	%		0.19	%
Total interest-earning assets		4.62	%		4.61	%		4.61	%		4.62	%		4.63	%
Interest-bearing liabilities:
Interest checking		0.28	%		0.27	%		0.24	%		0.27	%		0.27	%
Savings		0.67	%		0.70	%		0.67	%		0.77	%		0.89	%
Money market		0.46	%		0.51	%		0.55	%		0.63	%		0.72	%
Foreign office		0.34	%		0.36	%		0.43	%		0.54	%		0.54	%
Other time		2.75	%		2.95	%		3.24	%		3.48	%		3.62	%
Certificates - $100,000 and over		2.16	%		2.27	%		2.56	%		2.80	%		3.04	%
Other		0.02	%		0.09	%		0.19	%		0.19	%		0.23	%
Federal funds purchased		0.13	%		0.13	%		0.15	%		0.18	%		0.30	%
Other short-term borrowings		0.23	%		0.20	%		0.32	%		0.61	%		1.00	%
Long-term debt		2.64	%		2.65	%		2.67	%		2.79	%		3.36	%
Total interest-bearing liabilities		1.29	%		1.39	%		1.51	%		1.67	%		1.89	%
Ratios:
Net interest margin (taxable equivalent)		3.63	%		3.55	%		3.43	%		3.26	%		3.06	%
Net interest rate spread (taxable equivalent)		3.33	%		3.22	%		3.10	%		2.95	%		2.74	%
Interest-bearing liabilities to interest-earning assets		77.12	%		76.74	%		78.02	%		81.17	%		83.17	%

25

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	March 2010		December 2009		September 2009		June 2009		March 2009
Average Loans and Leases
Commercial:
Commercial and industrial loans	$	26,294	$	25,816	$	27,400	$	28,027	$	28,949
Commercial mortgage loans		11,708		11,981		12,269		12,463		12,508
Commercial construction loans		3,700		4,024		4,337		4,672		4,987
Commercial leases		3,467		3,574		3,522		3,512		3,564
Subtotal - commercial		45,169		45,395		47,528		48,674		50,008
Consumer:
Residential mortgage loans		7,976		8,129		8,355		8,713		9,195
Home equity		12,338		12,291		12,452		12,636		12,763
Automobile loans		10,185		8,973		8,871		8,692		8,687
Credit card		1,940		1,982		1,955		1,863		1,825
Other consumer loans and leases		773		831		899		995		1,083
Subtotal - consumer		33,212		32,206		32,532		32,899		33,553
Total average loans and leases (excluding held for sale)	$	78,381	$	77,601	$	80,060	$	81,573	$	83,561
Average loans held for sale		1,756		2,319		2,828		3,422		2,268
End of Period Loans and Leases
Commercial:
Commercial and industrial loans	$	26,131	$	25,683	$	26,175	$	28,409	$	28,617
Commercial mortgage loans		11,744		11,803		12,105		12,407		12,560
Commercial construction loans		3,277		3,784		4,147		4,491		4,745
Commercial leases		3,388		3,535		3,584		3,532		3,521
Subtotal - commercial		44,540		44,805		46,011		48,839		49,443
Consumer:
Residential mortgage loans		7,918		8,035		8,229		8,489		8,875
Home equity		12,186		12,174		12,377		12,511		12,710
Automobile loans		10,180		8,995		8,972		8,741		8,688
Credit card		1,863		1,990		1,973		1,914		1,816
Other consumer loans and leases		736		780		857		935		1,037
Subtotal - consumer		32,883		31,974		32,408		32,590		33,126
Total portfolio loans and leases	$	77,423	$	76,779	$	78,419	$	81,429	$	82,569
Core business activity		1,364		1,851		1,775		2,989		2,199
Portfolio management activity		243		216		288		352		403
Total loans held for sale		1,607		2,067		2,063		3,341		2,602
Operating lease equipment		492		499		486		474		470
Loans and Leases Serviced for Others (a):
Commercial and industrial loans		503		1,193		1,367		1,706		2,091
Commercial mortgage loans		291		264		256		264		297
Commercial construction loans		134		196		196		216		258
Commercial leases		146		150		149		152		154
Residential mortgage loans		50,293		48,638		46,837		43,527		41,524
Home equity		—		263		266		267		272
Automobile loans		—		1,230		1,394		1,569		1,754
Credit card		—		15		15		15		16
Other consumer loans and leases		—		7		7		7		7
Total loans and leases serviced for others		51,367		51,956		50,487		47,723		46,373
Total loans and leases serviced	$	130,889	$	131,301	$	131,455	$	132,967	$	132,014

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

26

Fifth Third Bancorp and Subsidiaries

Regulatory Capital (a)

$ in millions

(unaudited)

	As of
	March 2010			December 2009			September 2009			June 2009			March 2009
Tier I capital:
Shareholders’ equity	$	13,408		$	13,497		$	13,688		$	13,700		$	12,102
Goodwill and certain other intangibles		(2,556	)		(2,565	)		(2,559	)		(2,564	)		(2,785	)
Unrealized (gains) losses		(288	)		(240	)		(285	)		(152	)		(151	)
Qualifying trust preferred securities		2,763			2,763			2,763			2,763			2,763
Other		(30	)		(27	)		(33	)		(5	)		(5	)
Total tier I capital	$	13,297		$	13,428		$	13,574		$	13,742		$	11,924
Total risk-based capital:
Tier I capital	$	13,297		$	13,428		$	13,574		$	13,742		$	11,924
Qualifying allowance for credit losses		1,276			1,284			1,308			1,350			1,375
Qualifying subordinated notes		2,843			2,923			3,044			2,980			3,203
Total risk-based capital	$	17,416		$	17,635		$	17,926		$	18,072		$	16,502
Risk-weighted assets (b)	$	99,220		$	100,862		$	102,875		$	106,538		$	109,087
Ratios:
Average shareholders’ equity to average assets		11.92	%		12.31	%		12.24	%		10.78	%		10.18	%
Regulatory capital:
Fifth Third Bancorp
Tier I capital		13.40	%		13.31	%		13.19	%		12.90	%		10.93	%
Total risk-based capital		17.55	%		17.48	%		17.43	%		16.96	%		15.13	%
Tier I leverage		12.00	%		12.43	%		12.34	%		12.17	%		10.29	%
Tier I common equity		6.97	%		7.00	%		7.01	%		6.94	%		4.50	%
Fifth Third Bank (c)
Tier I capital		13.89	%		13.50	%		13.41	%		11.53	%		8.83	%
Total risk-based capital		15.88	%		15.56	%		15.47	%		14.38	%		11.67	%
Tier I leverage		12.52	%		12.69	%		12.76	%		9.89	%		7.46	%
Tier I common equity		13.89	%		13.50	%		13.41	%		11.69	%		8.83	%
Fifth Third Bank (Michigan) (c)
Tier I capital		—			—			—			10.13	%		10.62	%
Total risk-based capital		—			—			—			12.07	%		12.53	%
Tier I leverage		—			—			—			9.45	%		10.06	%
Tier I common equity		—			—			—			9.18	%		9.61	%
Fifth Third Bank N.A. (c)
Tier I capital		—			—			—			12.83	%		13.10	%
Total risk-based capital		—			—			—			14.12	%		14.37	%
Tier I leverage		—			—			—			10.63	%		11.52	%
Tier I common equity		—			—			—			12.83	%		13.10	%

(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.

27

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	March 2010			December 2009			September 2009			June 2009			March 2009
Average loans and leases (excluding held for sale):
Commercial and industrial loans	$	26,294		$	25,816		$	27,400		$	28,027		$	28,949
Commercial mortgage loans		11,708			11,981			12,269			12,463			12,508
Commercial construction loans		3,700			4,024			4,337			4,672			4,987
Commercial leases		3,467			3,574			3,522			3,512			3,564
Residential mortgage loans		7,976			8,129			8,355			8,713			9,195
Home equity		12,338			12,291			12,452			12,636			12,763
Automobile loans		10,185			8,973			8,871			8,692			8,687
Credit card		1,940			1,982			1,955			1,863			1,825
Other consumer loans and leases		773			831			899			995			1,083
Total average loans and leases (excluding held for sale)	$	78,381		$	77,601		$	80,060		$	81,573		$	83,561
Losses charged off:
Commercial and industrial loans	($	175	)	($	197	)	($	271	)	($	185	)	($	116	)
Commercial mortgage loans		(102	)		(144	)		(124	)		(89	)		(79	)
Commercial construction loans		(80	)		(134	)		(130	)		(79	)		(78	)
Commercial leases		(4	)		(11	)		—			(1	)		—
Residential mortgage loans		(88	)		(78	)		(92	)		(113	)		(75	)
Home equity		(75	)		(85	)		(82	)		(90	)		(73	)
Automobile loans		(44	)		(41	)		(44	)		(48	)		(56	)
Credit card		(46	)		(46	)		(47	)		(47	)		(38	)
Other consumer loans and leases		(8	)		(7	)		(6	)		(6	)		(6	)
Total losses		(622	)		(743	)		(796	)		(658	)		(521	)
Recoveries of losses previously charged off:
Commercial and industrial loans		14			14			15			8			13
Commercial mortgage loans		3			2			6			4			2
Commercial construction loans		2			(1	)		4			—			2
Commercial leases		—			3			—			—			—
Residential mortgage loans		—			—			—			1			—
Home equity		2			3			2			2			1
Automobile loans		13			9			10			12			10
Credit card		2			2			2			2			2
Other consumer loans and leases		4			3			1			3			1
Total recoveries		40			35			40			32			31
Net losses charged off:
Commercial and industrial loans		(161	)		(183	)		(256	)		(177	)		(103	)
Commercial mortgage loans		(99	)		(142	)		(118	)		(85	)		(77	)
Commercial construction loans		(78	)		(135	)		(126	)		(79	)		(76	)
Commercial leases		(4	)		(8	)		—			(1	)		—
Residential mortgage loans		(88	)		(78	)		(92	)		(112	)		(75	)
Home equity		(73	)		(82	)		(80	)		(88	)		(72	)
Automobile loans		(31	)		(32	)		(34	)		(36	)		(46	)
Credit card		(44	)		(44	)		(45	)		(45	)		(36	)
Other consumer loans and leases		(4	)		(4	)		(5	)		(3	)		(5	)
Total net losses charged off	($	582	)	($	708	)	($	756	)	($	626	)	($	490	)
Net charge-off Ratios:
Commercial and industrial loans		2.49	%		2.81	%		3.70	%		2.53	%		1.45	%
Commercial mortgage loans		3.42	%		4.69	%		3.82	%		2.73	%		2.50	%
Commercial construction loans		8.57	%		13.28	%		11.56	%		6.76	%		6.21	%
Commercial leases		0.44	%		0.88	%		(0.04	%)		0.02	%		—
Residential mortgage loans		4.46	%		3.82	%		4.38	%		5.17	%		3.30	%
Home equity		2.38	%		2.65	%		2.54	%		2.81	%		2.28	%
Automobile loans		1.27	%		1.38	%		1.52	%		1.65	%		2.17	%
Credit card		9.23	%		8.81	%		9.08	%		9.64	%		7.92	%
Other consumer loans and leases		2.07	%		2.49	%		2.62	%		1.95	%		1.63	%
Total net charge-off ratio		3.01	%		3.62	%		3.75	%		3.08	%		2.38	%

28

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	March 2010			December 2009			September 2009			June 2009			March 2009
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	3,749		$	3,681		$	3,485		$	3,070		$	2,787
Impact of cumulative effect of change in accounting principle		45			—			—			—			—
Total net losses charged off		(582	)		(708	)		(756	)		(626	)		(490	)
Provision for loan and lease losses		590			776			952			1,041			773
Allowance for loan and lease losses, ending	$	3,802		$	3,749		$	3,681		$	3,485		$	3,070
Reserve for unfunded commitments, beginning	$	294		$	284		$	239		$	231		$	195
Impact of cumulative effect of change in accounting principle		(43	)		—			—			—			—
Provision for unfunded commitments		9			10			45			8			36
Reserve for unfunded commitments, ending	$	260		$	294		$	284		$	239		$	231
Components of allowance for credit losses:
Allowance for loan and lease losses	$	3,802		$	3,749		$	3,681		$	3,485		$	3,070
Reserve for unfunded commitments		260			294			284			239			231
Total allowance for credit losses	$	4,062		$	4,043		$	3,965		$	3,724		$	3,301
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	746		$	734		$	752		$	603		$	667
Commercial mortgage loans		853			898			912			760			692
Commercial construction loans		479			646			697			684			551
Commercial leases		55			67			51			51			27
Residential mortgage loans		266			275			267			262			265
Home equity		23			21			24			26			25
Automobile loans		1			1			1			1			2
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual portfolio loans and leases		2,423			2,642			2,704			2,387			2,229
Restructured loans and leases - commercial (non accrual)		39			47			18			12			—
Restructured loans and leases - consumer (non accrual)		271			258			225			188			167
Total nonperforming portfolio loans and leases		2,733			2,947			2,947			2,587			2,396
Repossessed personal property		21			22			22			21			25
Other real estate owned		375			275			251			232			227
Total nonperforming assets (a)		3,129			3,244			3,220			2,840			2,648
Nonaccrual loans held for sale		239			220			286			352			403
Restructured loans - commercial (non accrual) held for sale		4			4			2			—			—
Total nonperforming assets including loans held for sale	$	3,372		$	3,468		$	3,508		$	3,192		$	3,051
Restructured Consumer loans and leases (accrual)	$	1,480		$	1,392		$	1,280		$	1,074		$	615
Restructured Commercial loans and leases (accrual)	$	76		$	68			—			—			—
Ninety days past due loans and leases:
Commercial and industrial loans	$	63		$	118		$	256		$	142		$	131
Commercial mortgage loans		44			59			184			131			124
Commercial construction loans		9			17			168			60			49
Commercial leases		4			4			4			5			6
Residential mortgage loans		157			189			198			242			231
Home equity		89			99			104			99			105
Automobile loans		13			17			17			18			18
Credit card		57			64			60			65			68
Other consumer loans and leases		—			—			1			—			1
Total ninety days past due loans and leases	$	436		$	567		$	992		$	762		$	733
Ratios
Net losses charged off as a percent of average loans and leases		3.01	%		3.62	%		3.75	%		3.08	%		2.38	%
Allowance for loan and lease losses:
As a percent of loans and leases		4.91	%		4.88	%		4.69	%		4.28	%		3.72	%
As a percent of nonperforming loans and leases (a)		139	%		127	%		125	%		135	%		128	%
As a percent of nonperforming assets (a)		122	%		116	%		114	%		123	%		116	%
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		3.51	%		3.82	%		3.75	%		3.17	%		2.89	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		4.02	%		4.22	%		4.09	%		3.48	%		3.20	%
Nonperforming assets as a percent of total loans, leases and other assets, including other real estate owned		4.24	%		4.38	%		4.34	%		3.75	%		3.57	%

(a) Does not include nonaccrual loans held for sale

29

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

	For the Three Months Ended
	March 2010		December 2009		September 2009		June 2009		March 2009
Total shareholders’ equity	13,408		13,497		13,688		13,700		12,102
Less:
Preferred stock	(3,620	)	(3,609	)	(3,599	)	(3,588	)	(4,252	)
Goodwill	(2,417	)	(2,417	)	(2,417	)	(2,417	)	(2,623	)
Intangible assets	(94	)	(106	)	(119	)	(133	)	(154	)
Tangible common equity, including unrealized gains / losses (a)	7,277		7,365		7,553		7,562		5,073
Less: Accumulated other comprehensive income / loss	(288	)	(241	)	(285	)	(152	)	(151	)
Tangible common equity, excluding unrealized gains / losses (b)	6,989		7,124		7,268		7,410		4,922
Add back: Preferred stock	3,620		3,609		3,599		3,588		4,252
Tangible equity (c)	10,609		10,733		10,867		10,998		9,174
Total assets (d)	112,651		113,380		110,740		115,984		119,313
Less:
Goodwill	(2,417	)	(2,417	)	(2,417	)	(2,417	)	(2,623	)
Intangible assets	(94	)	(106	)	(119	)	(133	)	(154	)
Tangible assets, including unrealized gains / losses (e)	110,140		110,857		108,204		113,434		116,536
Less: Accumulated other comprehensive income / loss, before tax	(443	)	(370	)	(438	)	(234	)	(233	)
Tangible assets, excluding unrealized gains / losses (f)	109,697		110,487		107,766		113,200		116,303
Common shares outstanding (g)	795		795		795		795		577
Risk-weighted assets, determined in accordance with prescribed regulatory requirements (h)	99,220		100,862		102,875		106,538		109,087
Ratios
Tangible equity (c) / (f)	9.67	%	9.71	%	10.08	%	9.72	%	7.89	%
Tangible common equity (excluding unrealized gains/losses) (b) / (f)	6.37	%	6.45	%	6.74	%	6.55	%	4.23	%
Tangible common equity (including unrealized gains/losses) (a) / (e)	6.61	%	6.64	%	6.98	%	6.67	%	4.35	%
Tangible common equity as a percent of risk-weighted assets
(excluding unrealized gains/losses) (b) / (h)	7.04	%	7.06	%	7.07	%	6.96	%	4.51	%
Tangible book value per share (a) / (g)	9.16		9.26		9.50		9.51		8.79

30

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended March 31, 2010 ($ in millions)	Commercial Banking		Branch Banking		Consumer Lending		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	377		382		109		38		(5	)	901
Provision for loan and lease losses	(278	)	(153	)	(137	)	(13	)��	(9	)	(590	)
Net interest income after provision for loan and lease losses	99		229		(28	)	25		(14	)	311
Total noninterest income	161		213		155		91		7		627
Total noninterest expense	(237	)	(374	)	(118	)	(96	)	(131	)	(956	)
Net income (loss) before taxes	23		68		9		20		(138	)	(18	)
Applicable income taxes (a)	28		(24	)	(3	)	(7	)	14		8
Net income (loss)	51		44		6		13		(124	)	(10	)
Dividends on preferred stock	—		—		—		—		62		62
Net income (loss) available to common shareholders	51		44		6		13		(186	)	(72	)
For the three months ended December 31, 2009 ($ in millions)	Commercial Banking		Branch Banking		Consumer Lending		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	357		388		109		40		(12	)	882
Provision for loan and lease losses	(405	)	(159	)	(128	)	(14	)	(70	)	(776	)
Net interest income after provision for loan and lease losses	(48	)	229		(19	)	26		(82	)	106
Total noninterest income	144		236		132		89		50		651
Total noninterest expense	(243	)	(349	)	(130	)	(94	)	(151	)	(967	)
Net income (loss) before taxes	(147	)	116		(17	)	21		(183	)	(210	)
Applicable income taxes (a)	84		(41	)	6		(7	)	70		112
Net income (loss)	(63	)	75		(11	)	14		(113	)	(98	)
Dividends on preferred stock	—		—		—		—		62		62
Net income (loss) available to common shareholders	(63	)	75		(11	)	14		(175	)	(160	)
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		227		147		84		278		851
Total noninterest expense	(245	)	(336	)	(115	)	(91	)	(89	)	(876	)
Net income (loss) before taxes	(226	)	138		4		18		(37	)	(103	)
Applicable income taxes (a)	102		(49	)	(1	)	(6	)	(40	)	6
Net income (loss)	(124	)	89		3		12		(77	)	(97	)
Dividends on preferred stock	—		—		—		—		62		62
Net income (loss) available to common shareholders	(124	)	89		3		12		(139	)	(159	)
For the three months ended June 30, 2009	Commercial Banking (b)		Branch Banking (b)		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		227		190		82		1,919		2,583
Total noninterest expense	(263	)	(347	)	(151	)	(88	)	(172	)	(1,021	)
Net income (loss) before taxes	(48	)	126		5		15		1,259		1,357
Applicable income taxes (a)	46		(44	)	(2	)	(5	)	(470	)	(475	)
Net income (loss)	(2	)	82		3		10		789		882
Dividends on preferred stock	—		—		—		—		26		26
Net income (loss) available to common shareholders	(2	)	82		3		10		763		856
For the three months ended March 31, 2009	Commercial Banking (b)		Branch Banking (b)		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	)	(135	)	(10	)	(282	)	(773	)
Net interest income after provision for loan and lease losses	117		252		1		27		(389	)	8
Total noninterest income	184		202		158		84		69		697
Total noninterest expense	(239	)	(338	)	(114	)	(83	)	(188	)	(962	)
Net income (loss) before taxes	62		116		45		28		(508	)	(257	)
Applicable income taxes (a)	7		(41	)	(16	)	(10	)	367		307
Net income (loss)	69		75		29		18		(141	)	50
Dividends on preferred stock	—		—		—		—		76		76
Net income (loss) available to common shareholders	69		75		29		18		(217	)	(26	)

(a) Includes taxable equivalent adjustments of $4 million for the three months ended March 31, 2010 and December 30, 2009 and $5 million for the three months ended September 30, 2009, June 30, 2009 and March 31, 2009.

(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 Business 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. Additionally, interchange revenue previously recorded in the Processing Solutions segment and associated with cards currently included in Branch Banking, is now included in the Branch Banking segment for all periods presented.

31