Fifth Third Bancorp (FITB) 8-K Fifth Third Bancorp Announces 2011 Net Income of $1.3 Billion

Exhibit 99.1

News Release            

CONTACTS:	Jim Eglseder (Investors)	FOR IMMEDIATE RELEASE
	(513) 534-8424	January 20, 2012
	Rich Rosen, CFA (Investors)
	(513) 534-3307
	Debra DeCourcy, APR (Media)
	(513) 534-4153

FIFTH THIRD BANCORP ANNOUNCES 2011 NET INCOME OF $1.3 BILLION

Fourth quarter net income of $314 million, earnings per diluted share of $0.33

• 4Q11 net income available to common shareholders of $305 million, or $0.33 per diluted common share, vs. $373 million, or $0.40 per share, in 3Q11 and $270 million, or $0.33 per share in 4Q10

• 4Q11 return on assets of 1.1%

• 4Q11 return on average common equity of 9.5%; return on average tangible common equity* of 11.9%

• Full year EPS of $1.18, up 87% compared with 2010; 2011 included $153 million, or $0.17 per share, of TARP discount accretion recorded in 1Q11

• Pre-provision net revenue (PPNR)* of $473 million reflected:

• Net interest income (FTE) of $920 million, up 2% sequentially; net interest margin 3.67%; period end portfolio loans up 2% sequentially driven by 5% growth in C&I loans

• Noninterest income of $550 million compared with $665 million in the prior quarter; decline largely due to $54 million charge to a swap liability related to our previous sale of class B Visa shares, about $30 million lower debit interchange revenue due to change in debit interchange regulations, $22 million lower mortgage banking revenue, and $21 million lower net investment securities gains

• Noninterest expense of $993 million, up 5% sequentially, driven by a $14 million litigation reserve charge related to card association membership and higher compensation and benefits expense which included a $10 million sequential increase largely due to the impact of a higher stock price on long term equity awards, $6 million in pension settlement expense, and the effect of higher loan volumes

• Credit trends remain favorable

• 4Q11 net charge-offs of $239 million (1.19% of loans and leases), versus 3Q11 NCOs of $262 million and 4Q10 NCOs of $356 million; lowest NCO level since 4Q07; 4Q11 provision expense of $55 million compared with 3Q11 provision of $87 million and 4Q10 provision of $166 million

• Loan loss allowance declined $184 million, similar to 3Q11 and 4Q10, due to improvement in credit results; allowance to loan ratio of 2.78%, 124% of nonperforming assets, 157% of nonperforming loans and leases, and 2.4 times 4Q11 annualized net charge-offs

• Total nonperforming assets of $2.0 billion including held-for-sale declined $187 million or 9% sequentially; nonperforming assets excluding held-for-sale of $1.8 billion declined $128 million or 7%; lowest levels since 1Q08

• NPA ratio of 2.23% down 21 bps from 3Q11, NPL ratio of 1.76% down 17 bps from 3Q11; gross NPL inflows of $396 million down 5% sequentially

• Total delinquencies (includes 30-89 days past dues and over 90 days past dues) down 13% sequentially

• No direct European sovereign exposure; total exposure to European peripheral borrowers less than $0.2 billion; total exposure to European banks less than $0.2 billion**

• Strong capital ratios; exceed fully phased-in Basel III proposed standards

• Tier 1 common ratio 9.34%*, up 1 bp sequentially (pro forma*** ~9.7% on a fully-phased in Basel III-adjusted basis, estimated among highest of large cap U.S. banks)

• Tier 1 capital ratio 11.91%, Total capital ratio 16.08%, Leverage ratio 11.10%

• Tangible common equity ratio* of 8.68% excluding unrealized gains/losses; 9.04% including unrealized gains/losses

• Book value per share of $13.92, tangible book value per share* of $11.25

• Tangible book value per share growth 2% from 3Q11, 13% from 4Q10

* Non-GAAP measure; See Reg. G reconciliation on page 33

** “European” includes non-Eurozone countries; “European peripheral” includes Greece, Ireland, Italy, Portugal, Spain

*** Current estimate (non-GAAP), subject to final rule-making and clarification by U.S. banking regulators; currently assumes unrealized securities gains are included in common equity for purposes of this calculation

Fifth Third Bancorp (Nasdaq: FITB) today reported full year 2011 net income of $1.3 billion, compared with net income of $753 million in 2010. After preferred dividends, 2011 net income available to common shareholders was $1.1 billion, or $1.18 per diluted share, compared with 2010 net income available to common shareholders of $503 million, or $0.63 per diluted share. Preferred dividends in the first quarter of 2011 included $153 million, or $0.17 per diluted share, of discount accretion primarily related to the repayment of TARP preferred stock, as well as $15 million, or $0.02 per diluted share, of contractual dividend payments on the TARP preferred stock. TARP preferred dividends in 2010 were $215 million, or $0.27 per diluted share, including $170 million of contractual dividend payments and $45 million of discount accretion.

Fourth quarter 2011 net income was $314 million, compared with net income of $381 million in the third quarter of 2011 and net income of $333 million in the fourth quarter of 2010. After preferred dividends, fourth quarter 2011 net income available to common shareholders was $305 million or $0.33 per diluted share, compared with third quarter net income of $373 million or $0.40 per diluted share, and net income of $270 million or $0.33 per diluted share in the fourth quarter of 2010.

As previously announced, fourth quarter 2011 results included a $54 million pre-tax charge to noninterest income related to changes in the fair value of a swap liability that Fifth Third entered into in conjunction with its sale of Class B Visa shares in 2009 (compared with a $17 million charge in the third quarter of 2011 and a $5 million charge in the fourth quarter of 2010) and a $14 million charge in noninterest expense to increase litigation reserves associated with bankcard association membership. Fourth quarter 2011 results also included $10 million in positive valuation adjustments on Vantiv LLC puts and warrants compared with $3 million in positive valuation adjustments in both the third quarter of 2011 and the fourth quarter of 2010, and investment securities gains of $5 million compared with gains of $26 million in the third quarter of 2011 and gains of $21 million in the fourth quarter of 2010. Third quarter 2011 results also included $28 million of expense related to the termination of certain FHLB borrowings and hedging transactions. Fourth quarter 2010 results also included a $17 million charge related to the early extinguishment of $1.0 billion in FHLB borrowings.

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Earnings Highlights

	For the Three Months Ended															% Change
	December 2011			September 2011			June 2011			March 2011			December 2010			Seq			Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	314		$	381		$	337		$	265		$	333			(18	%)		(6	%)
Net income available to common shareholders	$	305		$	373		$	328		$	88		$	270			(18	%)		13	%
Common Share Data
Earnings per share, basic		0.33			0.41			0.36			0.10			0.34			(20	%)		(3	%)
Earnings per share, diluted		0.33			0.40			0.35			0.10			0.33			(18	%)		—
Cash dividends per common share		0.08			0.08			0.06			0.06			0.01			—			700	%
Financial Ratios
Return on average assets		1.08	%		1.34	%		1.22	%		0.97	%		1.18	%		(19	%)		(8	%)
Return on average common equity		9.5			11.9			11.0			3.1			10.4			(20	%)		(9	%)
Return on average tangible common equity		11.9			14.9			14.0			4.2			13.9			(20	%)		(14	%)
Tier I capital		11.91			11.96			11.93			12.20			13.89			—			(14	%)
Tier I common equity		9.34			9.33			9.20			8.99			7.48			—			25	%
Net interest margin (a)		3.67			3.65			3.62			3.71			3.75			1	%		(2	%)
Efficiency (a)		67.5			60.4			59.1			62.5			62.6			12	%		8	%
Common shares outstanding (in thousands)		919,804			919,779			919,818			918,728			796,273			—			16	%
Average common shares outstanding (in thousands):
Basic		914,997			914,947			914,601			880,830			791,072			—			16	%
Diluted		956,349			955,490			955,478			894,841			836,225			—			14	%

(a) Presented on a fully taxable equivalent basis

“Fifth Third’s 2011 results clearly demonstrated continued improvement, with net income available to common shareholders more than doubling compared with last year,” said Kevin T. Kabat, president and CEO of Fifth Third Bancorp. “We’re growing our loan portfolio, credit trends continued to improve, and we continue to maintain a strong capital position.

“Throughout 2011, we have seen solid expansion of the loan portfolio through our lending activities, although demand remained relatively soft, with total loan growth of 5 percent from a year ago. The fourth quarter saw a significant pick-up in demand and loan growth, with end of period total loan growth of 2 percent, including 5 percent in C&I lending which continues to be a strength for us.

“Growth in loans, along with continued runoff in excess CD balances, drove an expansion in net interest income and net interest margin, which were up sequentially by 2 percent and 2 basis points, respectively. Noninterest income trends reflected the impact of several fourth quarter developments, including the implementation of new debit interchange regulations, a charge related to our previous sale of Visa, Inc. shares, and lower mortgage banking revenue relative to last quarter’s strong results. Fourth quarter expenses were elevated due to a litigation reserve charge related to bankcard association membership and higher compensation expense, which included several unusual items as well as the impact of strong loan production volumes, particularly mortgages, on incentives and fulfillment costs.

“Credit trends continued to be favorable, with net charge-offs down 9 percent sequentially to 1.19 percent of loans and leases, the lowest since 2007. Nonperforming assets (excluding held-for-sale) declined 7 percent sequentially, and delinquency trends remain consistent with pre-crisis levels.

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“While regulatory headwinds remain for the industry, as we look to 2012, we believe Fifth Third Bank is well-positioned to continue to outperform other banking competitors.”

Income Statement Highlights

	For the Three Months Ended															% Change
	December 2011			September 2011			June 2011			March 2011			December 2010			Seq			Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	920		$	902		$	869		$	884		$	919			2	%		—
Provision for loan and lease losses		55			87			113			168			166			(36	%)		(67	%)
Total noninterest income		550			665			656			584			656			(17	%)		(16	%)
Total noninterest expense		993			946			901			918			987			5	%		1	%
Income before income taxes (taxable equivalent)		422			534			511			382			422			(21	%)		—
Taxable equivalent adjustment		4			4			5			5			5			—			(20	%)
Applicable income taxes		104			149			169			112			83			(30	%)		25	%
Net income		314			381			337			265			334			(18	%)		(6	%)
Less: Net income attributable to noncontrolling interest		—			—			—			—			1			—			—
Net income attributable to Bancorp		314			381			337			265			333			(18	%)		(6	%)
Dividends on preferred stock		9			8			9			177			63			13	%		(86	%)
Net income available to common shareholders		305			373			328			88			270			(18	%)		13	%
Earnings per share, diluted	$	0.33		$	0.40		$	0.35		$	0.10		$	0.33			(18	%)		—
Net Interest Income
	For the Three Months Ended															% Change
	December 2011			September 2011			June 2011			March 2011			December 2010			Seq			Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	1,061		$	1,059		$	1,050		$	1,065		$	1,109			—			(4	%)
Total interest expense		141			157			181			181			190			(10	%)		(26	%)
Net interest income (taxable equivalent)	$	920		$	902		$	869		$	884		$	919			2	%		—
Average Yield
Yield on interest-earning assets (taxable equivalent)		4.23	%		4.28	%		4.37	%		4.47	%		4.52	%		(1	%)		(6	%)
Yield on interest-bearing liabilities		0.79	%		0.86	%		1.00	%		1.02	%		1.04	%		(8	%)		(24	%)
Net interest rate spread (taxable equivalent)		3.44	%		3.42	%		3.37	%		3.45	%		3.48	%		1	%		(1	%)
Net interest margin (taxable equivalent)		3.67	%		3. 65	%		3.62	%		3.71	%		3.75	%		1	%		(2	%)
Average Balances ($ in millions)
Loans and leases, including held for sale	$	82,278		$	80,013		$	79,153		$	79,379		$	79,148			3	%		4	%
Total securities and other short-term investments		17,243			18,142			17,192			17,290			18,066			(5	%)		(5	%)
Total interest-earning assets		99,521			98,155			96,345			96,669			97,214			1	%		2	%
Total interest-bearing liabilities		71,467			72,473			72,503			72,372			72,657			(1	%)		(2	%)
Bancorp shareholders’ equity		13,147			12,841			12,365			13,052			14,007			2	%		(6	%)

Net interest income of $920 million on a fully taxable equivalent basis increased $18 million from the third quarter of 2011. Interest income increased $2 million and interest expense declined $16 million. Interest income results reflected a $12 million increase from loans and $10 million reduction from securities. Those trends were driven by loan growth, which more than offset the effect of lower securities balances, lower reinvestment rates on securities given the current interest rate environment, and lower yields on loans. Interest expense improvements were driven by lower deposit costs, including the $16 million impact of continued run-off of high-rate CDs and their replacement into lower yielding products, as well as the benefit from FHLB debt termination and swap redemptions in the third quarter of 2011. These effects were partially offset by increased expense as a result of hedge ineffectiveness in the fourth quarter of 2011 due to changes in the interest rate environment.

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The net interest margin was 3.67 percent, an increase of 2 bps from 3.65 percent in the previous quarter. The increase reflected the net effect of the factors mentioned in the net interest income discussion, with net certificate of deposit (CD) runoff contributing approximately 7 bps to the margin and loan growth contributing 2 bps, while lower loan yields reduced the margin by approximately 5 bps while increased hedge ineffectiveness reduced the margin by 2 bps.

Compared with the fourth quarter of 2010, net interest income increased $1 million and the net interest margin decreased 8 bps, which was largely the result of lower loan and investment securities yields, partially offset by higher average loan balances, run-off in higher-priced CDs, and mix shift to lower cost deposit products.

Securities

Average securities and other short-term investments were $17.2 billion in the fourth quarter of 2011 compared with $18.1 billion in the previous quarter and $18.1 billion in the fourth quarter of 2010. The decline was related to lower reinvestment of portfolio cash flows and lower short-term investment balances due to the repayment of FHLB borrowings entered into during the debt ceiling crisis.

Loans

	For the Three Months Ended										% Change
	December 2011		September 2011		June 2011		March 2011		December 2010		Seq			Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	29,891	$	28,777	$	27,909	$	27,331	$	26,338		4	%		13	%
Commercial mortgage		10,262		10,050		10,394		10,685		10,985		2	%		(7	%)
Commercial construction		1,132		1,752		1,918		2,030		2,171		(35	%)		(48	%)
Commercial leases		3,351		3,300		3,349		3,364		3,314		2	%		1	%
Subtotal - commercial loans and leases		44,636		43,879		43,570		43,410		42,808		2	%		4	%
Consumer:
Residential mortgage loans		10,464		10,006		9,654		9,282		8,382		5	%		25	%
Home equity		10,810		10,985		11,144		11,376		11,655		(2	%)		(7	%)
Automobile loans		11,696		11,445		11,188		11,070		10,825		2	%		8	%
Credit card		1,906		1,864		1,834		1,852		1,844		2	%		3	%
Other consumer loans and leases		402		441		547		646		722		(9	%)		(44	%)
Subtotal - consumer loans and leases		35,278		34,741		34,367		34,226		33,428		2	%		6	%
Total average loans and leases (excluding held for sale)	$	79,914	$	78,620	$	77,937	$	77,636	$	76,236		2	%		5	%
Average loans held for sale		2,364		1,393		1,216		1,743		2,912		70	%		(19	%)

Average and end of period loan and lease balances (excluding loans held-for-sale) were up 2 percent sequentially and 5 percent from the fourth quarter of 2010.

Average commercial portfolio loan and lease balances were up $757 million sequentially, or 2 percent, and increased $1.8 billion, or 4 percent, from the fourth quarter of 2010. Average C&I loans increased 4 percent sequentially and 13 percent compared with the fourth quarter of 2010. Average commercial mortgage and commercial construction loan balances declined by a combined 3 percent sequentially and 13 percent from the same period the previous year, reflecting continued low customer demand and current underwriting standards. Commercial line usage, on an end of period basis, was 32 percent of committed lines in the fourth

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quarter versus 33 percent in both the third quarter of 2011 and the fourth quarter of 2010. The decline was primarily due to an increase in committed lines accompanied with relatively stable usage.

Average consumer portfolio loan and lease balances were up $537 million sequentially, or 2 percent, and increased $1.9 billion, or 6 percent, from the fourth quarter of 2010. Average residential mortgage loans increased 5 percent sequentially, reflecting stronger originations during the quarter as rates remained at historically low levels, as well as the continued retention of certain branch originated shorter-term fixed-rate residential mortgages which totaled $476 million on an end of period basis in the fourth quarter. Compared with the fourth quarter of 2010, average residential mortgage loans increased 25 percent and reflected the previously mentioned retention of mortgages. Average auto loans increased 2 percent sequentially and 8 percent year-over-year as loan origination volumes more than offset pay-downs. The growth outlined above was partially offset by lower home equity loan balances, which declined 2 percent sequentially and 7 percent year-over-year due to lower demand and production.

Average loans held-for-sale of $2.4 billion increased $971 million from third quarter levels primarily due to the high level of mortgage refinancing activity during the quarter. Compared with the fourth quarter of 2010, average loans held-for-sale decreased $548 million due to the effect of elevated mortgage refinancing activity in 2010 in the fourth quarter 2010 mortgage loan warehouse.

Deposits

	For the Three Months Ended										% Change
	December 2011		September 2011		June 2011		March 2011		December 2010		Seq			Yr/Yr
Average Deposits ($ in millions)
Demand deposits	$	26,069	$	23,677	$	22,174	$	21,582	$	21,066		10	%		24	%
Interest checking		19,263		18,322		18,701		18,539		17,578		5	%		10	%
Savings		21,715		21,747		21,817		21,324		20,602		—			5	%
Money market		5,255		5,213		5,009		5,136		4,985		1	%		5	%
Foreign office (a)		3,325		3,255		3,805		3,580		3,733		2	%		(11	%)
Subtotal - Transaction deposits		75,627		72,214		71,506		70,161		67,964		5	%		11	%
Other time		4,960		6,008		6,738		7,363		8,490		(17	%)		(42	%)
Subtotal - Core deposits		80,587		78,222		78,244		77,524		76,454		3	%		5	%
Certificates - $100,000 and over		3,085		3,376		3,955		4,226		4,858		(9	%)		(36	%)
Other		16		7		2		1		9		147	%		92	%
Total deposits	$	83,688	$	81,605	$	82,201	$	81,751	$	81,321		3	%		3	%

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

Average core deposits increased 3 percent sequentially and 5 percent from the fourth quarter of 2010, as transaction deposit growth was partially offset by continued runoff of other time deposits. Average transaction deposits, excluding other time deposits, increased 5 percent from the third quarter of 2011 primarily driven by higher demand deposit account (DDA) and interest checking balances. Year-over-year growth of 11 percent was driven by higher DDA, interest checking, savings, and money market account balances.

Retail average transaction deposits increased 3 percent sequentially and reflected higher DDA, interest checking, and money market account balances. Growth of 12 percent from the fourth quarter of 2010 reflected higher balances across all transaction deposit account categories. Consumer CDs included in core

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deposits declined 17 percent sequentially and 42 percent year-over-year, driven by maturities of higher-rate CDs and customer reluctance to purchase longer CD maturities given the current low rate environment.

Commercial average transaction deposits increased 9 percent sequentially and 11 percent from the previous year driven by higher average account balances. Sequential growth reflected seasonally higher inflows to DDAs and interest checking during the quarter, partially offset by lower money market account balances. Year-over-year growth also reflected higher inflows to DDAs and interest checking, partially offset by lower foreign office deposits and money market account balances. Average public funds balances were $5.4 billion compared with $5.4 billion in the third quarter of 2011 and $5.1 billion in the fourth quarter of 2010.

Noninterest Income

	For the Three Months Ended											% Change
	December 2011			September 2011		June 2011		March 2011		December 2010		Seq			Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	136		$	134	$	126	$	124	$	140		1	%		(3	%)
Corporate banking revenue		82			87		95		86		103		(5	%)		(20	%)
Mortgage banking net revenue		156			178		162		102		149		(12	%)		5	%
Investment advisory revenue		90			92		95		98		93		(2	%)		(3	%)
Card and processing revenue		60			78		89		80		81		(24	%)		(26	%)
Other noninterest income		24			64		83		81		55		(63	%)		(57	%)
Securities gains, net		5			26		6		8		21		(81	%)		(76	%)
Securities gains, net - non-qualifying hedgeson mortgage servicing rights		(3	)		6		—		5		14		NM			NM
Total noninterest income	$	550		$	665	$	656	$	584	$	656		(17	%)		(16	%)

NM: Not Meaningful

Noninterest income of $550 million decreased $115 million sequentially, or 17 percent, and declined $106 million, or 16 percent, compared with year ago results. The sequential decline was primarily driven by lower mortgage banking net revenue, the impact of new debit interchange regulation on interchange revenue, lower net securities gains, and the effect of valuation adjustments on the Visa total return swap.

Fourth quarter 2011 noninterest income results included a $54 million charge related to the increase in fair value of the liability related to the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares; this compares with a $17 million charge in the third quarter of 2011 and a $5 million charge in the fourth quarter of 2010. Fourth quarter 2011 results also included a $10 million positive valuation adjustment on warrants and puts related to the 2009 sale of a 51 percent interest in our processing business, compared with $3 million in positive valuation adjustments on these instruments in both the third quarter of 2011 and the fourth quarter of 2010. Excluding these items, as well as investment securities gains in all periods, noninterest income decreased $64 million, or 10 percent, from the previous quarter. On a year-over-year basis, noninterest income, excluding the items mentioned above, decreased $48 million, or 8 percent, primarily due to lower debit interchange revenue and mortgage banking revenue.

Service charges on deposits of $136 million increased 1 percent from the third quarter and decreased 3 percent compared with the same quarter last year. Retail service charges were flat sequentially. Compared

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with the fourth quarter of 2010, retail service charges declined 7 percent largely due to the implementation of new overdraft regulations and overdraft policies. Commercial service charges increased 2 percent sequentially due to reductions in earnings credit rates and account growth and were consistent with results from a year ago.

Corporate banking revenue of $82 million decreased 5 percent from the third quarter of 2011 and decreased 20 percent from the same period last year. The sequential decline was primarily driven by lower foreign exchange, interest rate derivative, and lease related fees. The year-over-year decline was driven by these factors as well as strong syndication fees and institutional sales revenue results in the fourth quarter of 2010.

Mortgage banking net revenue was $156 million in the fourth quarter of 2011, a 12 percent decrease from the third quarter of 2011 and a 5 percent increase from the fourth quarter of 2010. Fourth quarter 2011 originations were $7.1 billion, compared with $4.5 billion in the previous quarter and $7.4 billion in the fourth quarter of 2010. Fourth quarter 2011 originations resulted in gains of $152 million on mortgages sold compared with gains of $119 million during the previous quarter and $158 million during the fourth quarter of 2010. Mortgage servicing fees this quarter were $58 million, compared with $59 million in both the third quarter of 2011 and the fourth quarter of 2010. Mortgage banking net revenue is also affected by net servicing asset value adjustments, which include mortgage servicing rights (MSR) amortization and MSR valuation adjustments (including mark-to-market adjustments on free-standing derivatives used to economically hedge the MSR portfolio). These net servicing asset valuation adjustments were negative $54 million in the fourth quarter of 2011 (reflecting MSR amortization of $47 million and MSR valuation adjustments of negative $7 million); net zero in the third quarter of 2011 (MSR amortization of $34 million and MSR valuation adjustments of positive $34 million); and negative $67 million in the fourth quarter of 2010 (MSR amortization of $47 million and MSR valuation adjustments of negative $20 million). The mortgage-servicing asset, net of the valuation reserve, was $681 million at year end on a servicing portfolio of $57 billion.

Net losses on securities held as non-qualifying hedges for the MSR portfolio were $3 million in the fourth quarter of 2011, compared with net gains of $6 million in the third quarter of 2011 and $14 million in the fourth quarter of 2010.

Investment advisory revenue of $90 million decreased 2 percent sequentially and 3 percent from the fourth quarter of 2010. Sequential and year-over-year declines were driven by lower securities and brokerage revenue, institutional trust fees, and mutual fund fees largely due to fluctuations in equity and bond markets, partially offset by higher private client service revenue due to increased production.

Card and processing revenue was $60 million in the fourth quarter of 2011, a decrease of 24 percent sequentially and 26 percent from the fourth quarter of 2010. The sequential and year-over-year declines were

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driven by the approximately $30 million impact of the recently enacted debit interchange legislation, partially offset by increased transaction volumes and initial mitigation activity.

Other noninterest income totaled $24 million in the fourth quarter of 2011, compared with $64 million in the previous quarter and $55 million in the fourth quarter of 2010. Other noninterest income includes changes in income related to the valuation of the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares, revenue from our equity interest in the processing business, and effects of the valuation of warrants and puts related to the processing business sale. For periods ending December 31, 2011, September 30, 2011, and December 31, 2010, reductions in income related to the Visa, Inc. total return swap were $54 million, $17 million, and $5 million, respectively; revenue from our processing business equity interest was $25 million, $17 million, and $8 million, respectively; and warrant/put valuation adjustments were a benefit of $10 million, $3 million, and $3 million, respectively. Excluding these items, other noninterest income decreased $18 million from the previous quarter and $6 million from the fourth quarter of 2010.

Net credit-related costs recognized in other noninterest income were $33 million in the fourth quarter of 2011 versus $25 million last quarter and $34 million in the fourth quarter of 2010. Fourth quarter 2011 results included $9 million of net gains on sales of commercial loans held-for-sale and $18 million of fair value charges on commercial loans held-for-sale, as well as $22 million of losses on other real estate owned (OREO). Third quarter 2011 results included $3 million of net gains on sales of commercial loans held-for-sale and $6 million of fair value charges on commercial loans held-for-sale, as well as $21 million of losses on OREO. Fourth quarter 2010 results included net losses of $21 million on the sale of loans held-for-sale, $35 million of fair value charges on commercial loans held-for-sale, and $19 million of losses on OREO.

Net gains on investment securities were $5 million in the fourth quarter of 2011, compared with investment securities gains of $26 million in the previous quarter and $21 million in the fourth quarter of 2010.

Noninterest Expense

	For the Three Months Ended										% Change
	December 2011		September 2011		June 2011		March 2011		December 2010		Seq			Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	393	$	369	$	365	$	351	$	385		7	%		2	%
Employee benefits		84		70		79		97		73		21	%		16	%
Net occupancy expense		79		75		75		77		76		5	%		4	%
Technology and communications		48		48		48		45		52		—			(8	%)
Equipment expense		27		28		28		29		32		(3	%)		(13	%)
Card and processing expense		28		34		29		29		26		(17	%)		9	%
Other noninterest expense		334		322		277		290		343		4	%		(3	%)
Total noninterest expense	$	993	$	946	$	901	$	918	$	987		5	%		1	%

Noninterest expense of $993 million increased 5 percent from the third quarter of 2011 and increased 1 percent from the fourth quarter of 2010. Fourth quarter 2011 expenses included a $14 million addition to litigation reserves related to bankcard association membership and $5 million in other litigation reserve additions. Third quarter 2011 expenses included $28 million of costs related to the termination of certain

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FHLB borrowings and hedging transactions. Fourth quarter 2010 included $17 million of expenses related to the termination of $1 billion in FHLB funding. Excluding these items, noninterest expense increased 6 percent from the third quarter of 2011 and was flat compared with the fourth quarter of 2010, driven by higher compensation and benefits expense, with the former driven by higher loan volume fulfillment costs and incentives, particularly mortgage, as well as the effect of a higher stock price on long term equity awards, and the latter driven by $6 million of annual pension settlement expense.

Credit costs related to problem assets recorded as noninterest expense totaled $44 million in the fourth quarter of 2011, compared with $45 million in the third quarter of 2011 and $52 million in the fourth quarter of 2010. Fourth quarter credit-related expenses included provisioning for mortgage repurchases of $18 million, compared with $19 million in the third quarter and $20 million a year ago. (Realized mortgage repurchase losses were $17 million in the fourth quarter of 2011, compared with $31 million last quarter and $23 million in the fourth quarter of 2010.) Provision for unfunded commitments was a benefit of $6 million in the current quarter, compared with a benefit of $10 million last quarter and a benefit of $4 million a year ago. Derivative valuation adjustments related to customer credit risk were a positive $5 million this quarter versus $4 million in expense last quarter and positive $1 million a year ago. OREO expense was $8 million this quarter, compared with $7 million last quarter and $11 million a year ago. Other problem asset-related expenses were $28 million in the fourth quarter, compared with $25 million the previous quarter and $27 million in the same period last year.

Credit Quality

	For the Three Months Ended
	December 2011			September 2011			June 2011			March 2011			December 2010
Total net losses charged off ($ in millions)
Commercial and industrial loans	($	62	)	($	55	)	($	76	)	($	83	)	($	85	)
Commercial mortgage loans		(47	)		(47	)		(47	)		(54	)		(80	)
Commercial construction loans		(4	)		(35	)		(20	)		(26	)		(11	)
Commercial leases		—			1			2			(1	)		3
Residential mortgage loans		(36	)		(36	)		(36	)		(65	)		(62	)
Home equity		(50	)		(53	)		(54	)		(63	)		(65	)
Automobile loans		(13	)		(12	)		(8	)		(20	)		(19	)
Credit card		(21	)		(18	)		(28	)		(31	)		(33	)
Other consumer loans and leases		(6	)		(7	)		(37	)		(24	)		(4	)
Total net losses charged off		(239	)		(262	)		(304	)		(367	)		(356	)
Total losses		(280	)		(294	)		(343	)		(397	)		(399	)
Total recoveries		41			32			39			30			43
Total net losses charged off	($	239	)	($	262	)	($	304	)	($	367	)	($	356	)
Ratios (annualized)
Net losses charged off as a percent of average loans and leases (excluding held for sale)		1.19	%		1.32	%		1.56	%		1.92	%		1.86	%
Commercial		1.00	%		1.23	%		1.30	%		1.52	%		1.59	%
Consumer		1.43	%		1.43	%		1.89	%		2.43	%		2.20	%

Net charge-offs were $239 million in the fourth quarter of 2011, or 119 bps of average loans on an annualized basis. Net charge-offs were 9 percent lower than third quarter 2011 net charge-offs of $262 million, and 33 percent lower than fourth quarter 2010 net charge-offs of $356 million.

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Commercial net charge-offs were $113 million, or 100 bps, down $23 million versus $136 million, or 123 bps, in the third quarter. C&I net losses were $62 million compared with net losses of $55 million in the previous quarter. Commercial mortgage net losses totaled $47 million, unchanged from the third quarter. Commercial construction net losses were $4 million, compared with net losses of $35 million in the prior quarter. Net losses on residential builder and developer portfolio loans across the C&I and commercial real estate categories totaled $2 million. Originations of homebuilder / developer loans were suspended in 2007 and the remaining portfolio balance is $512 million, down from a peak of $3.3 billion in the second quarter of 2008.

Consumer net charge-offs were $126 million, or 143 bps, flat sequentially. Net charge-offs on residential mortgage loans in the portfolio were $36 million, unchanged from the previous quarter. Home equity net charge-offs were $50 million, versus $53 million in the third quarter. Net losses on brokered home equity loans represented 34 percent of third quarter home equity losses; such loans are 14 percent of the total home equity portfolio. The home equity portfolio included $1.5 billion of brokered loans, down from a peak of $2.6 billion in 2007; originations of these loans were discontinued in 2007. Net charge-offs in the auto portfolio of $13 million increased $1 million seasonally from the prior quarter. Net losses on consumer credit card loans were $21 million, up $3 million from the previous quarter. Net charge-offs in other consumer loans were $6 million, down $1 million from the previous quarter.

	For the Three Months Ended
	December 2011			September 2011			June 2011			March 2011			December 2010
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	2,439		$	2,614		$	2,805		$	3,004		$	3,194
Total net losses charged off		(239	)		(262	)		(304	)		(367	)		(356	)
Provision for loan and lease losses		55			87			113			168			166
Allowance for loan and lease losses, ending		2,255			2,439			2,614			2,805			3,004
Reserve for unfunded commitments, beginning		187			197			211			227			231
Provision for unfunded commitments		(6	)		(10	)		(14	)		(16	)		(4	)
Reserve for unfunded commitments, ending		181			187			197			211			227
Components of allowance for credit losses:
Allowance for loan and lease losses		2,255			2,439			2,614			2,805			3,004
Reserve for unfunded commitments		181			187			197			211			227
Total allowance for credit losses	$	2,436		$	2,626		$	2,811		$	3,016		$	3,231
Allowance for loan and lease losses ratio
As a percent of loans and leases		2.78	%		3.08	%		3.35	%		3.62	%		3.88	%
As a percent of nonperforming loans and leases (a)		157	%		158	%		160	%		170	%		179	%
As a percent of nonperforming assets (a)		124	%		125	%		125	%		132	%		138	%

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

Provision for loan and lease losses totaled $55 million in the fourth quarter of 2011, down $32 million from the third quarter of 2011 and down $111 million from the fourth quarter of 2010. The allowance for loan and lease losses declined $184 million, reflecting continued improvement in credit trends, a similar reduction to that recorded in recent quarters. This allowance represented 2.78 percent of total loans and leases outstanding as of year end, compared with 3.08 percent last quarter, and represented 157 percent of nonperforming loans and leases, 124 percent of nonperforming assets, and 238 percent of third quarter annualized net charge-offs.

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							As of
	December 2011			September 2011			June 2011			March 2011			December 2010
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans (a)	$	408		$	449		$	485		$	477		$	473
Commercial mortgage loans		358			353			417			415			407
Commercial construction loans		123			151			147			159			182
Commercial leases		9			13			16			11			11
Residential mortgage loans		134			142			145			140			152
Home equity		25			25			26			24			23
Automobile loans		—			—			1			1			1
Other consumer loans and leases (a)		1			1			3			60			84
Total nonaccrual loans and leases	$	1,058		$	1,134		$	1,240		$	1,287		$	1,333
Restructured loans and leases - commercial (nonaccrual)		160			189			188			149			141
Restructured loans and leases - consumer (nonaccrual)		220			215			211			209			206
Total nonperforming loans and leases	$	1,438		$	1,538		$	1,639		$	1,645		$	1,680
Repossessed personal property		14			17			15			20			27
Other real estate owned (b)		364			389			434			461			467
Total nonperforming assets (c)	$	1,816		$	1,944		$	2,088		$	2,126		$	2,174
Nonaccrual loans held for sale		131			171			147			184			247
Restructured loans - commercial (nonaccrual) held for sale		7			26			29			32			47
Total nonperforming assets including loans held for sale	$	1,954		$	2,141		$	2,264		$	2,342		$	2,468
Restructured Consumer loans and leases (accrual)	$	1,612		$	1,601		$	1,593		$	1,573		$	1,560
Restructured Commercial loans and leases (accrual)	$	390		$	349		$	266		$	243		$	228
Total loans and leases 90 days past due	$	200		$	274		$	279		$	266		$	274
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		1.76	%		1.93	%		2.09	%		2.11	%		2.15	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		2.23	%		2.44	%		2.66	%		2.73	%		2.79	%

(a) Nonaccrual loans and leases at December 31, 2010 reflect a reclassification of $84 million in nonperforming loans from commercial and industrial loans to other consumer loans and leases which occurred after the Bancorp's Form 8-K was filed on January 19, 2011. This reclassification was primarily a result of the determination that consumer loans obtained in the foreclosure of a commercial loan were more appropriately categorized as other consumer loans and leases in accordance with regulatory guidelines.

(b) Excludes government insured advances.

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

Total nonperforming assets, including loans held-for-sale, were $2.0 billion, a decline of $187 million, or 9 percent, from the previous quarter. Nonperforming assets held-for-investment (NPAs) at year end were $1.8 billion or 2.23 percent of total loans, leases and OREO, and decreased $128 million, or 7 percent, from the previous quarter. Nonperforming loans held-for-investment (NPLs) at year end were $1.4 billion or 1.76 percent of total loans, leases and OREO, and decreased $100 million or 7 percent from the third quarter.

Commercial portfolio NPAs at year end were $1.3 billion, or 2.92 percent of commercial loans, leases and OREO, and decreased $136 million, or 9 percent, from the third quarter. Commercial portfolio NPLs were $1.1 billion, or 2.31 percent of commercial loans and leases, and decreased $96 million from last quarter. Commercial construction portfolio NPAs were $179 million, a decline of $58 million from the previous quarter. Commercial mortgage portfolio NPAs were $637 million, up $7 million from the prior quarter. Commercial real estate loans in Michigan and Florida represented 46 percent of commercial real estate NPAs and 38 percent of our total commercial real estate portfolio. C&I portfolio NPAs of $509 million decreased $79 million from the previous quarter. Within the overall commercial loan portfolio, residential real estate builder and developer portfolio NPAs of $155 million declined $52 million from the third quarter, of which $53 million were commercial construction assets, $88 million were commercial mortgage assets and $14 million were C&I assets. Commercial portfolio NPAs included $160 million of nonaccrual troubled debt restructurings (TDRs), compared with $189 million last quarter.

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Consumer portfolio NPAs of $478 million, or 1.34 percent of consumer loans, leases and OREO, increased $8 million from the third quarter. Consumer portfolio NPLs were $379 million, or 1.06 percent of consumer loans and leases, and decreased $4 million from last quarter. Of consumer NPAs, $416 million were in residential real estate portfolios. Residential mortgage NPAs were $350 million, $13 million higher than last quarter, with Florida representing 45 percent of residential mortgage NPAs and 16 percent of total residential mortgage loans. Home equity NPAs of $66 million were down $4 million compared with last quarter. Credit card NPAs increased $2 million from the previous quarter to $48 million. Other consumer NPAs were $1 million. Consumer nonaccrual TDRs were $220 million in the fourth quarter of 2011, compared with $215 million in the third quarter.

Fourth quarter OREO balances included in portfolio NPA balances described above were $364 million, down $25 million from $389 million in the third quarter, and included $277 million in commercial OREO and $87 million in consumer OREO. Repossessed personal property of $14 million consisted largely of autos.

Loans still accruing over 90 days past due were $200 million, down $74 million, or 27 percent, from the third quarter of 2011. Commercial balances 90 days past due of $8 million decreased $55 million sequentially. Consumer balances 90 days past due of $192 million were down $19 million from the previous quarter. Loans 30-89 days past due of $452 million decreased $22 million, or 5 percent, from the previous quarter. Commercial balances 30-89 days past due of $98 million were down $37 million sequentially and consumer balances 30-89 days past due of $354 million increased $15 million from the third quarter.

At year-end, we held $138 million of commercial nonaccrual loans for sale, compared with $197 million at the end of the third quarter. During the quarter we sold approximately $31 million of non-accrual held-for-sale loans; we transferred approximately $3 million of non-accrual commercial loans from the portfolio to loans held-for-sale, and we transferred approximately $5 million of loans from loans held-for-sale to OREO. We recorded negative valuation adjustments of $18 million on held-for-sale loans and we recorded net gains of $8 million on loans that were sold or settled during the quarter.

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Capital Position

	For the Three Months Ended
	December 2011			September 2011			June 2011			March 2011			December 2010
Capital Position
Average shareholders’ equity to average assets		11.41	%		11.33	%		11.12	%		11.77	%		12.52	%
Tangible equity (a)		9.03	%		8.98	%		9.01	%		8.76	%		10.42	%
Tangible common equity (excluding unrealized gains/losses) (a)		8.68	%		8.63	%		8.64	%		8.39	%		7.04	%
Tangible common equity (including unrealized gains/losses) (a)		9.04	%		9.04	%		8.96	%		8.60	%		7.30	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (a) (b)		9.41	%		9.39	%		9.28	%		9.09	%		7.56	%
Regulatory capital ratios: (c)
Tier I capital		11.91	%		11.96	%		11.93	%		12.20	%		13.89	%
Total risk-based capital		16.08	%		16.25	%		16.03	%		16.27	%		18.08	%
Tier I leverage		11.10	%		11.08	%		11.03	%		11.21	%		12.79	%
Tier I common equity (a)		9.34	%		9.33	%		9.20	%		8.99	%		7.48	%
Book value per share		13.92			13.73			13.23			12.80			13.06
Tangible book value per share (a)		11.25			11.05			10.55			10.11			9.94

(a) The tangible equity, tangible common equity, tier I common equity and tangible book value per share ratios, while not required by accounting principles generally accepted in the United States of America (U.S. 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 U.S. 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 remained strong during the quarter and reflected the effect of growth in retained earnings as well as in assets. Compared with the prior quarter, the Tier 1 common equity ratio* increased 1 bp to 9.34 percent. The tangible common equity to tangible assets ratio* was 8.68 percent (excluding unrealized gains/losses) and 9.04 percent (including unrealized gains/losses). The Tier 1 capital ratio decreased 5 bps to 11.91 percent and the Total capital ratio decreased 17 bps to 16.08 percent; and the Leverage ratio increased 2 bps to 11.10 percent. In addition to the effect of retained earnings and asset growth, the Tier 1, Total, and Leverage capital ratios also reflected the redemption of $25 million in TruPS during the quarter;

Book value per share at December 31, 2011 was $13.92 and tangible book value per share* was $11.25, compared with September 30, 2011 book value per share of $13.73 and tangible book value per share* of $11.05.

The Basel Committee has proposed new capital rules for Internationally Active banks, known as “Basel III.” Fifth Third is subject to U.S. bank regulations for capital, which have not yet been issued in response to the Basel proposals. Fifth Third’s capital levels exceed current U.S. “well-capitalized” standards and proposed Basel III capital standards, and we expect Fifth Third’s capital levels to continue to exceed U.S. “well-capitalized” standards including the adoption of U.S. rules that incorporate changes contemplated under Basel III and/or the Dodd-Frank Act.

* Non-GAAP measure; See Reg. G reconciliation on page 33

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Fifth Third’s Tier 1 and Total capital levels at December 31, 2011 included $2.2 billion of TruPS, or 2.1 percent of risk weighted assets. During the quarter, the Bancorp redeemed at par $25 million of its TruPS. Under the Dodd-Frank financial reform legislation, these TruPS are intended to be phased out of Tier 1 capital over three years beginning in 2013. The Basel Committee also issued proposals that would include a phase-out of these securities, although over a longer period. We will continue to evaluate the role of these types of securities in our capital structure, based on regulatory developments. To the extent these types of securities remain outstanding during and after the phase-in period, they would be expected to continue to be included in Total capital, subject to prevailing U.S. capital standards. The Basel Committee has also proposed adjustments to definitions of capital, including what is to be included in the definition of Tier 1 common, and to risk weightings applied to certain types of assets. We do not currently expect these proposed adjustments, if adopted into U.S. banking regulations, to negatively affect Fifth Third’s Tier 1 common capital levels and for any potentially positive effect to be modest.

Fifth Third is one of 31 large U.S. Bank Holding Companies (BHCs) subject to the Federal Reserve’s (FRB) Capital Plans Rule which was issued November 22, 2011. Under this rule, we are required to submit our annual capital plan to the Federal Reserve, for its objection or non-objection. Fifth Third submitted its capital plan on January 9, 2012, as required. The submitted plans included an evaluation of results under four required macroeconomic scenarios: a baseline and stress scenario determined by the firms, and a baseline and stress scenario provided by the Federal Reserve. As required, the plan also included those capital actions Fifth Third intends to pursue or contemplate during the period covered by the FRB’s response, which is 2012 and the first quarter of 2013. Our plan for the covered period included the possibility that we would increase our common dividend and would initiate common share repurchases, although any such actions would be based on the FRB’s non-objection, environmental conditions, earnings results, our capital position, and other factors, as well as approval by the Fifth Third Board of Directors, at the time. The Federal Reserve has indicated to the BHCs that it will issue its response on or before March 15, 2012. We expect to manage our capital structure over time – including the components represented by common equity and non-common equity – to adapt to and reflect the effect of legislation, changes in U.S. bank capital regulations that reflect international capital rules developments, regulatory expectations, and our goals for capital levels and capital composition as appropriate given any changes in rules.

Other

Fifth Third Bank owns a 49 percent interest in Vantiv, LLC, formerly Fifth Third Processing Solutions, LLC. (Advent International owns the remaining 51 percent interest.) The 49 percent interest is recorded on Fifth Third’s balance sheet as an equity method investment with a book value of $576 million. Additionally, Fifth Third has a warrant to purchase additional shares in Vantiv which is carried as a derivative asset at a fair market value of $111 million, and Advent has a contingent put option to sell shares in Vantiv to Fifth Third which is carried as a derivative liability at a fair market value of $1 million.

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Conference Call

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

Those unable to listen to the live webcast may access a webcast replay or podcast through the Fifth Third Investor Relations website at the same web address. Additionally, a telephone replay of the conference call will be available beginning approximately two hours after the conference call until Friday, February 3^rd by dialing 800-585-8367 for domestic access and 404-537-3406 for international access (passcode 32053529#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of December 31, 2011, the Company had $117 billion in assets and operated 15 affiliates with 1,316 full-service Banking Centers, including 104 Bank Mart® locations open seven days a week inside select grocery stores and 2,425 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 Vantiv, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2011, had $282 billion in assets under care, of which it managed $24 billion for individuals, corporations and not-for-profit organizations.Investor information andpress 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

16

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, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; (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 Vantiv, LLC, formerly 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.

# # #

17

Quarterly Financial Review for December 31, 2011

Table of Contents

Financial Highlights	19-20
Consolidated Statements of Income	21
Consolidated Statements of Income (Taxable Equivalent)	22
Consolidated Balance Sheets	23-24
Consolidated Statements of Changes in Equity	25
Average Balance Sheet and Yield Analysis	26-28
Summary of Loans and Leases	29
Regulatory Capital	30
Summary of Credit Loss Experience	31
Asset Quality	32
Regulation G Non-GAAP Reconciliation	33
Segment Presentation	34

18

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended									% Change						Year to Date						% Change
	December 2011			September 2011			December 2010			Seq			Yr/Yr			December 2011			December 2010			Yr/Yr
Income Statement Data
Net interest income (a)	$	920		$	902		$	919			2	%		—		$	3,575		$	3,622			(1	%)
Noninterest income		550			665			656			(17	%)		(16	%)		2,455			2,729			(10	%)
Total revenue (a)		1,470			1,567			1,575			(6	%)		(7	%)		6,030			6,351			(5	%)
Provision for loan and lease losses		55			87			166			(36	%)		(67	%)		423			1,538			(73	%)
Noninterest expense		993			946			987			5	%		1	%		3,758			3,855			(3	%)
Net income attributable to Bancorp		314			381			333			(18	%)		(6	%)		1,297			753			72	%
Net income available to common shareholders		305			373			270			(18	%)		13	%		1,094			503			118	%
Common Share Data
Earnings per share, basic	$	0.33		$	0.41		$	0.34			(20	%)		(3	%)	$	1.20		$	0.63			90	%
Earnings per share, diluted		0.33			0.40			0.33			(18	%)		—			1.18			0.63			87	%
Cash dividends per common share		0.08			0.08			0.01			—			700	%		0.28			0.04			600	%
Book value per share		13.92			13.73			13.06			1	%		7	%		13.92			13.06			7	%
Market price per share		12.72			10.10			14.68			26	%		(13	%)		12.72			14.68			(13	%)
Common shares outstanding (in thousands)		919,804			919,779			796,273			—			16	%		919,804			796,273			16	%
Average common shares outstanding (in thousands):
Basic		914,997			914,947			791,072			—			16	%		906,461			790,852			15	%
Diluted		956,349			955,490			836,225			—			14	%		949,534			799,381			19	%
Market capitalization	$	11,700		$	9,290		$	11,689			26	%		—		$	11,700		$	11,689			—
Financial Ratios
Return on assets		1.08	%		1.34	%		1.18	%		(19	%)		(8	%)		1.15	%		0.67	%		72	%
Return on average common equity		9.5	%		11.9	%		10.4	%		(20	%)		(9	%)		9.0	%		5.0	%		80	%
Return on average tangible common equity (b)		11.9	%		14.9	%		13.9	%		(20	%)		(14	%)		11.4	%		7.0	%		63	%
Noninterest income as a percent of total revenue		37	%		42	%		42	%		(12	%)		(12	%)		41	%		43	%		(5	%)
Average equity as a percent of average assets		11.41	%		11.33	%		12.52	%		1	%		(9	%)		11.41	%		12.22	%		(7	%)
Tangible common equity (c) (d)		8.68	%		8.63	%		7.04	%		1	%		23	%		8.68	%		7.04	%		23	%
Net interest margin (a)		3.67	%		3.65	%		3.75	%		1	%		(2	%)		3.66	%		3.66	%		—
Efficiency (a)		67.5	%		60.4	%		62.6	%		12	%		8	%		62.3	%		60.7	%		3	%
Effective tax rate		24.9	%		27.9	%		20.0	%		(11	%)		25	%		29.1	%		19.8	%		47	%
Credit Quality
Net losses charged off	$	239		$	262		$	356			(9	%)		(33	%)	$	1,172		$	2,328			(49	%)
Net losses charged off as a percent of average loans and leases		1.19	%		1.32	%		1.86	%		(10	%)		(36	%)		1.49	%		3.02	%		(51	%)
Allowance for loan and lease losses as a percent of loans and leases		2.78	%		3.08	%		3.88	%		(10	%)		(28	%)		2.78	%		3.88	%		(28	%)
Allowance for credit losses as a percent of loans and leases		3.01	%		3.32	%		4.17	%		(9	%)		(28	%)		3.01	%		4.17	%		(28	%)
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		2.23	%		2.44	%		2.79	%		(9	%)		(20	%)		2.23	%		2.79	%		(20	%)
Average Balances
Loans and leases, including held for sale	$	82,278		$	80,013		$	79,148			3	%		4	%	$	80,214		$	79,232			1	%
Total securities and other short-term investments		17,243			18,142			18,066			(5	%)		(5	%)		17,468			19,699			(11	%)
Total assets		115,268			113,295			111,858			2	%		3	%		112,666			112,434			—
Transaction deposits (f)		75,627			72,214			67,964			5	%		11	%		72,392			65,662			10	%
Core deposits (g)		80,587			78,222			76,454			3	%		5	%		78,652			76,188			3	%
Wholesale funding (h)		17,081			17,932			17,269			(5	%)		(1	%)		16,973			18,917			(10	%)
Bancorp shareholders’ equity		13,147			12,841			14,007			2	%		(6	%)		12,851			13,737			(6	%)
Regulatory Capital Ratios (i)
Tier I capital		11.91	%		11.96	%		13.89	%		—			(14	%)		11.91	%		13.89	%		(14	%)
Total risk-based capital		16.08	%		16.25	%		18.08	%		(1	%)		(11	%)		16.08	%		18.08	%		(11	%)
Tier I leverage		11.10	%		11.08	%		12.79	%		—			(13	%)		11.10	%		12.79	%		(13	%)
Tier I common equity (d)		9.34	%		9.33	%		7.48	%		—			25	%		9.34	%		7.48	%		25	%
Operations
Banking centers		1,316			1,314			1,312			—			—			1,316			1,312			—
ATMs		2,425			2,437			2,445			—			(1	%)		2,425			2,445			(1	%)
Full-time equivalent employees		21,334			21,172			20,838			1	%		2	%		21,334			20,838			2	%

(a) Presented on a fully taxable equivalent basis

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders (net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity, (average common equity less goodwill and intangible assets).

(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 (total assets less goodwill, intangible assets and accumulated other comprehensive income.)

(d) The tangible common equity and tier I common equity ratios, while not required by U.S. GAAP, are considered to be important metrics with which to analyze a bank’s position. 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

19

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	December 2011			September 2011			June 2011			March 2011			December 2010
Income Statement Data
Net interest income (a)	$	920		$	902		$	869		$	884		$	919
Noninterest income		550			665			656			584			656
Total revenue (a)		1,470			1,567			1,525			1,468			1,575
Provision for loan and lease losses		55			87			113			168			166
Noninterest expense		993			946			901			918			987
Net income attributable to Bancorp		314			381			337			265			333
Net income available to common shareholders		305			373			328			88			270
Common Share Data
Earnings per share, basic	$	0.33		$	0.41		$	0.36		$	0.10		$	0.34
Earnings per share, diluted		0.33			0.40			0.35			0.10			0.33
Cash dividends per common share		0.08			0.08			0.06			0.06			0.01
Book value per share		13.92			13.73			13.23			12.80			13.06
Market price per share		12.72			10.10			12.75			13.89			14.68
Common shares outstanding (in thousands)		919,804			919,779			919,818			918,728			796,273
Average common shares outstanding (in thousands):
Basic		914,997			914,947			914,601			880,830			791 ,072
Diluted		956,349			955,490			955,478			894,841			836,225
Market capitalization	$	11,700		$	9,290		$	11,728		$	12,761		$	11,689
Financial Ratios
Return on assets		1.08	%		1.34	%		1.22	%		0.97	%		1.18	%
Return on average common equity		9.5	%		11.9	%		11.0	%		3.1	%		10.4	%
Return on average tangible common equity (b)		11.9	%		14.9	%		14.0	%		4.2	%		13.9	%
Noninterest income as a percent of total revenue		37	%		42	%		43	%		40	%		42	%
Average equity as a percent of average assets		11.41	%		11.33	%		11.12	%		11.77	%		12.52	%
Tangible common equity (c) (d)		8.68	%		8.63	%		8.64	%		8.39	%		7.04	%
Net interest margin (a)		3.67	%		3.65	%		3.62	%		3.71	%		3.75	%
Efficiency (a)		67.5	%		60.4	%		59.1	%		62.5	%		62.6	%
Effective tax rate		24.9	%		27.9	%		33.3	%		29.7	%		20.0	%
Credit Quality
Net losses charged off	$	239		$	262		$	304		$	367		$	356
Net losses charged off as a percent of average loans and leases		1.19	%		1.32	%		1.56	%		1.92	%		1.86	%
Allowance for loan and lease losses as a percent of loans and leases		2.78	%		3.08	%		3.35	%		3.62	%		3.88	%
Allowance for credit losses as a percent of loans and leases		3.01	%		3.32	%		3.61	%		3.89	%		4.17	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		2.23	%		2.44	%		2.66	%		2.73	%		2.79	%
Average Balances
Loans and leases, including held for sale	$	82,278		$	80,013		$	79,153		$	79,379		$	79,148
Total securities and other short-term investments		17,243			18,142			17,192			17,290			18,066
Total assets		115,268			113,295			111,200			110,844			111,858
Transaction deposits (f)		75,627			72,214			71,506			70,161			67,964
Core deposits (g)		80,587			78,222			78,244			77,524			76,454
Wholesale funding (h)		17,081			17,932			16,433			16,430			17,269
Bancorp shareholders’ equity		13,147			12,841			12,365			13,052			14,007
Regulatory Capital Ratios (i)
Tier I capital		11.91	%		11.96	%		11.93	%		12.20	%		13.89	%
Total risk-based capital		16.08	%		16.25	%		16.03	%		16.27	%		18.08	%
Tier I leverage		11.10	%		11.08	%		11.03	%		11.21	%		12.79	%
Tier I common equity (d)		9.34	%		9.33	%		9.20	%		8.99	%		7.48	%
Operations
Banking centers		1,316			1,314			1,316			1,310			1,312
ATMs		2,425			2,437			2,456			2,453			2,445
:Full-time equivalent employees		21,334			21,172			20,953			20,837			20,838

(a) Presented on a fully taxable equivalent basis

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders (net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity, (average common equity less goodwill and intangible assets).

(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 (total assets less goodwill, intangible assets and accumulated other comprehensive income.)

(d) The tangible common equity and tier I common equity ratios, while not required by U.S. GAAP, are considered to be important metrics with which to analyze a bank’s position. 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

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended							% Change						Year to Date				% Change
	December 2011			September 2011		December 2010		Seq			Yr/Yr			December 2011		December 2010		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	911		$	899	$	950		1	%		(4	%)	$	3,613	$	3,823		(6	%)
Interest on securities		145			155		152		(7	%)		(5	%)		600		658		(9	%)
Interest on other short-term investments		1			1		2		—			(50	%)		5		8		(39	%)
Total interest income		1,057			1,055		1,104		—			(4	%)		4,218		4,489		(6	%)
Interest Expense
Interest on deposits		65			84		118		(22	%)		(45	%)		352		591		(41	%)
Interest on short-term borrowings		1			1		1		—			—			4		4		—
Interest on long-term debt		75			72		71		4	%		6	%		305		290		5	%
Total interest expense		141			157		190		(10	%)		(26	%)		661		885		(25	%)
Net Interest Income		916			898		914		2	%		—			3,557		3,604		(1	%)
Provision for loan and lease losses		55			87		166		(36	%)		(67	%)		423		1,538		(73	%)
Net interest income after provision for loan and lease losses		861			811		748		6	%		15	%		3,134		2,066		52	%
Noninterest Income
Service charges on deposits		136			134		140		1	%		(3	%)		520		574		(9	%)
Corporate banking revenue		82			87		103		(5	%)		(20	%)		350		364		(4	%)
Mortgage banking net revenue		156			178		149		(12	%)		5	%		597		647		(8	%)
Investment advisory revenue		90			92		93		(2	%)		(3	%)		375		361		4	%
Card and processing revenue		60			78		81		(24	%)		(26	%)		308		316		(3	%)
Other noninterest income		24			64		55		(63	%)		(57	%)		250		406		(38	%)
Securities gains, net		5			26		21		(81	%)		(76	%)		46		47		(2	%)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		(3	)		6		14		NM			NM			9		14		(36	%)
Total noninterest income		550			665		656		(17	%)		(16	%)		2,455		2,729		(10	%)
Noninterest Expense
Salaries, wages and incentives		393			369		385		7	%		2	%		1,478		1,430		3	%
Employee benefits		84			70		73		21	%		16	%		330		314		5	%
Net occupancy expense		79			75		76		5	%		4	%		305		298		2	%
Technology and communications		48			48		52		—			(8	%)		188		189		(1	%)
Equipment expense		27			28		32		(3	%)		(13	%)		113		122		(8	%)
Card and processing expense		28			34		26		(17	%)		9	%		120		108		12	%
Other noninterest expense		334			322		343		4	%		(3	%)		1,224		1,394		(12	%)
Total noninterest expense		993			946		987		5	%		1	%		3,758		3,855		(3	%)
Income before income taxes		418			530		417		(21	%)		_			1,831		940		95	%
Applicable income taxes		104			149		83		(30	%)		25	%		533		187		185	%
Net Income		314			381		334		(18	%)		(6	%)		1,298		753		72	%
Less: Net income attributable to noncontrolling interest		—			—		1		—			(100	%)		1		—		100	%
Net income attributable to Bancorp		314			381		333		(18	%)		(6	%)		1,297		753		72	%
Dividends on preferred stock		9			8		63		13	%		(86	%)		203		250		(19	%)
Net income available to common shareholders	$	305		$	373	$	270		(18	%)		13	%	$	1,094	$	503		118	%

21

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	December 2011			September 2011		June 2011		March 2011		December 2010
Interest Income
Interest and fees on loans and leases	$	911		$	899	$	893	$	910	$	950
Interest on securities		145			155		151		149		152
Interest on other short-term investments		1			1		1		1		2
Total interest income		1,057			1,055		1,045		1,060		1,104
Taxable equivalent adjustment		4			4		5		5		5
Total interest income (taxable equivalent)		1,061			1,059		1,050		1,065		1,109
Interest Expense
Interest on deposits		65			84		97		106		118
Interest on short-term borrowings		1			1		1		1		1
Interest on long-term debt		75			72		83		74		71
Total interest expense		141			157		181		181		190
Net interest income (taxable equivalent)		920			902		869		884		919
Provision for loan and lease losses		55			87		113		168		166
Net interest income (taxable equivalent) after provision for loan and lease losses		865			815		756		716		753
Noninterest Income
Service charges on deposits		136			134		126		124		140
Corporate banking revenue		82			87		95		86		103
Mortgage banking net revenue		156			178		162		102		149
Investment advisory revenue		90			92		95		98		93
Card and processing revenue		60			78		89		80		81
Other noninterest income		24			64		83		81		55
Securities gains, net		5			26		6		8		21
Securities gains, net - non-qualifying hedges on mortgage servicing rights		(3	)		6		—		5		14
Total noninterest income		550			665		656		584		656
Noninterest Expense
Salaries, wages and incentives		393			369		365		351		385
Employee benefits		84			70		79		97		73
Net occupancy expense		79			75		75		77		76
Technology and communications		48			48		48		45		52
Equipment expense		27			28		28		29		32
Card and processing expense		28			34		29		29		26
Other noninterest expense		334			322		277		290		343
Total noninterest expense		993			946		901		918		987
Income before income taxes (taxable equivalent)		422			534		511		382		422
Taxable equivalent adjustment		4			4		5		5		5
Income before income taxes		418			530		506		377		417
Applicable income taxes		104			149		169		112		83
Net Income		314			381		337		265		334
Less: Net Income attributable to noncontrolling interest		—			—		—		—		1
Net income attributable to Bancorp		314			381		337		265		333
Dividends on preferred stock		9			8		9		177		63
Net income available to common shareholders	$	305		$	373	$	328	$	88	$	270

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of									% Change
	December 2011			September 2011			December 2010			Seq			Yr/Yr
Assets
Cash and due from banks	$	2,663		$	2,348		$	2,159			13	%		23	%
Available-for-sale and other securities (a)		15,362			16,227			15,414			(5	%)		—
Held-to-maturity securities (b)		322			337			353			(5	%)		(9	%)
Trading securities		177			189			294			(6	%)		(40	%)
Other short-term investments		1,781			2,028			1,515			(12	%)		18	%
Loans held for sale		2,954			1,840			2,216			61	%		33	%
Portfolio loans and leases:
Commercial and industrial loans		30,783			29,258			27,191			5	%		13	%
Commercial mortgage loans		10,138			10,330			10,845			(2	%)		(7	%)
Commercial construction loans		1,020			1,213			2,048			(16	%)		(50	%)
Commercial leases		3,531			3,368			3,378			5	%		5	%
Residential mortgage loans		10,672			10,249			8,956			4	%		19	%
Home equity		10,719			10,920			11,513			(2	%)		(7	%)
Automobile loans		11,827			11,593			10,983			2	%		8	%
Credit card		1,978			1,878			1,896			5	%		4	%
Other consumer loans and leases		350			407			681			(14	%)		(49	%)
Portfolio loans and leases		81,018			79,216			77,491			2	%		5	%
Allowance for loan and lease losses		(2,255	)		(2,439	)		(3,004	)		(8	%)		(25	%)
Portfolio loans and leases, net		78,763			76,777			74,487			3	%		6	%
Bank premises and equipment		2,447			2,410			2,389			2	%		2	%
Operating lease equipment		497			462			479			8	%		4	%
Goodwill		2,417			2,417			2,417			—			—
Intangible assets		40			45			62			(10	%)		(36	%)
Servicing rights		681			662			822			3	%		(17	%)
Other assets		8,863			9,163			8,400			(3	%)		6	%
Total assets	$	116,967		$	114,905		$	111,007			2	%		5	%
Liabilities
Deposits:
Demand	$	27,600		$	24,547		$	21,413			12	%		29	%
Interest checking		20,392			18,616			18,560			10	%		10	%
Savings		21,756			21,673			20,903			—			4	%
Money market		4,989			5,448			5,035			(8	%)		(1	%)
Foreign office		3,250			3,139			3,721			4	%		(13	%)
Other time		4,638			5,439			7,728			(15	%)		(40	%)
Certificates - $100,000 and over		3,039			3,092			4,287			(2	%)		(29	%)
Other		46			93			1			(51	%)		NM
Total deposits		85,710			82,047			81,648			4	%		5	%
Federal funds purchased		346			427			279			(19	%)		24	%
Other short-term borrowings		3,239			4,894			1,574			(34	%)		106	%
Accrued taxes, interest and expenses		1,469			1,307			889			12	%		65	%
Other liabilities		3,270			3,372			2,979			(3	%)		10	%
Long-term debt		9,682			9,800			9,558			(1	%)		1	%
Total liabilities		103,716			101,847			96,927			2	%		7	%
Equity
Common stock		2,051			2,051			1,779			—			15	%
Preferred stock		398			398			3,654			—			(89	%)
Capital surplus		2,792			2,780			1,715			—			63	%
Retained earnings		7,554			7,323			6,719			3	%		12	%
Accumulated other comprehensive income		470			542			314			(13	%)		50	%
Treasury stock		(64	)		(65	)		(130	)		(2	%)		(51	%)
Total Bancorp shareholders’ equity		13,201			13,029			14,051			1	%		(6	%)
Noncontrolling interest		50			29			29			72	%		69	%
Total Equity		13,251			13,058			14,080			1	%		(6	%)
Total liabilities and equity	$	116,967		$	114,905		$	111 ,007			2	%		5	%
(a) Amortized cost	$	14,614		$	15,427		$	14,919			(5	%)		(2	%)
(b) Market values		322			337			353			(5	%)		(9	%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000			—			—
Outstanding, excluding treasury		919,804			919,779			796,273			—			16	%
Treasury		4,088			4,114			5,232			(1	%)		(22	%)

23

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	December 2011			September 2011			June 2011			March 2011			December 2010
Assets
Cash and due from banks	$	2,663		$	2,348		$	2,380		$	2,121		$	2,159
Available-for-sale and other securities (a)		15,362			16,227			15,502			15,135			15,414
Held-to-maturity securities (b)		322			337			344			346			353
Trading securities		177			189			217			216			294
Other short-term investments		1,781			2,028			1,370			2,481			1,515
Loans held for sale		2,954			1,840			1,185			1,291			2,216
Portfolio loans and leases:
Commercial and industrial loans		30,783			29,258			28,099			27,344			27,191
Commercial mortgage loans		10,138			10,330			10,233			10,510			10,845
Commercial construction loans		1,020			1,213			1,778			1,980			2,048
Commercial leases		3,531			3,368			3,326			3,367			3,378
Residential mortgage loans		10,672			10,249			9,849			9,530			8,956
Home equity		10,719			10,920			11,048			11,222			11,513
Automobile loans		11,827			11,593			11,315			11,129			10,983
Credit card		1,978			1,878			1,856			1,821			1,896
Other consumer loans and leases		350			407			463			562			681
Portfolio loans and leases		81,018			79,216			77,967			77,465			77,491
Allowance for loan and lease losses		(2,255	)		(2,439	)		(2,614	)		(2,805	)		(3,004	)
Portfolio loans and leases, net		78,763			76,777			75,353			74,660			74,487
Bank premises and equipment		2,447			2,410			2,395			2,389			2,389
Operating lease equipment		497			462			492			513			479
Goodwill		2,417			2,417			2,417			2,417			2,417
Intangible assets		40			45			49			55			62
Servicing rights		681			662			847			894			822
Other assets		8,863			9,163			8,254			7,967			8,400
Total assets	$	116,967		$	114,905		$	110,805		$	110,485		$	111,007
Liabilities
Deposits:
Demand	$	27,600		$	24,547		$	22,589		$	22,066		$	21,413
Interest checking		20,392			18,616			18,072			18,597			18,560
Savings		21,756			21,673			21,764			21,697			20,903
Money market		4,989			5,448			4,859			5,184			5,035
Foreign office		3,250			3,139			3,271			3,569			3,721
Other time		4,638			5,439			6,399			7,043			7,728
Certificates - $100,000 and over		3,039			3,092			3,642			4,160			4,287
Other		46			93			2			1			1
Total deposits		85,710			82,047			80,598			82,317			81,648
Federal funds purchased		346			427			403			332			279
Other short-term borrowings		3,239			4,894			2,702			1,297			1,574
Accrued taxes, interest and expenses		1,469			1,307			1,067			844			889
Other liabilities		3,270			3,372			3,282			2,948			2,979
Long-term debt		9,682			9,800			10,152			10,555			9,558
Total liabilities		103,716			101,847			98,204			98,293			96,927
Equity
Common stock		2,051			2,051			2,051			2,051			1,779
Preferred stock		398			398			398			398			3,654
Capital surplus		2,792			2,780			2,769			2,824			1,715
Retained earnings		7,554			7,323			7,024			6,752			6,719
Accumulated other comprehensive income		470			542			396			263			314
Treasury stock		(64	)		(65	)		(66	)		(125	)		(130	)
Total Bancorp shareholders’ equity		13,201			13,029			12,572			12,163			14,051
Noncontrolling interest		50			29			29			29			29
Total Equity		13,251			13,058			12,601			12,192			14,080
Total liabilities and equity	$	116,967		$	114,905		$	110,805		$	110,485		$	111,007
(a) Amortized cost	$	14,614		$	15,427		$	14,889		$	14,707		$	14,919
(b) Market values		322			337			344			346			353
(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		919,804			919,779			919,818			918,728			796,273
Treasury		4,088			4,114			4,074			5,165			5,232

24

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	December 2011			December 2010			December 2011			December 2010
Total equity, beginning	$	13,058		$	13,913		$	14,080		$	13,497
Net income attributable to Bancorp		314			333			1,297			753
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		(34	)		(112	)		164			105
Qualifying cash flow hedges		(11	)		(6	)		13			(38	)
Change in accumulated other comprehensive income related to employee benefit plans		(26	)		1			(20	)		6
Comprehensive income		243			216			1,454			826
Cash dividends declared:
Common stock		(74	)		(8	)		(258	)		(32	)
Preferred stock		(9	)		(51	)		(50	)		(205	)
Issuance of common stock		—			—			1,648			—
TARP repayment		—			—			(3,408	)		—
Stock-based awards exercised, including treasury shares issued		—			—			1			(4	)
Loans repaid (issued) related to exercise of stock-based awards, net		—			1			1			1
Redemption of preferred stock warrants issued under TARP CPP		—			—			(280	)		—
Stock-based compensation expense		12			11			42			44
Impact of cumulative effect of change in accounting principle		—			—			—			(77	)
Noncontrolling interest		21			(1	)		21			29
Total equity, endinq	$	13,251		$	14,080		$	13,251		$	14,080

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended									% Change
	December 2011			September 2011			December 2010			Seq			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	29,954		$	28,824		$	26,509			4	%		13	%
Commercial mortgage loans		10,350			10,140			11,276			2	%		(8	%)
Commercial construction loans		1,155			1,777			2,289			(35	%)		(50	%)
Commercial leases		3,352			3,300			3,314			2	%		1	%
Residential mortgage loans		12,638			11,224			10,693			13	%		18	%
Home equity		10,810			10,985			11,655			(2	%)		(7	%)
Automobile loans		11,696			11,445			10,825			2	%		8	%
Credit card		1,906			1,864			1,844			2	%		3	%
Other consumer loans and leases		417			454			743			(8	%)		(44	%)
Taxable securities		15,270			15,790			15,367			(3	%)		(1	%)
Tax exempt securities		58			64			268			(9	%)		(78	%)
Other short-term investments		1,915			2,288			2,431			(16	%)		(21	%)
Total interest-earning assets		99,521			98,155			97,214			1	%		2	%
Cash and due from banks		2,418			2,362			2,284			2	%		6	%
Other assets		15,758			15,381			15,449			2	%		2	%
Allowance for loan and lease losses		(2,429	)		(2,603	)		(3,089	)		(7	%)		(21	%)
Total assets	$	115,268		$	113,295		$	111,858			2	%		3	%
Liabilities
Interest-bearing liabilities:
Interest checking	$	19,263		$	18,322		$	17,578			5	%		10	%
Savings		21,715			21,747			20,602			—			5	%
Money market		5,255			5,213			4,985			1	%		5	%
Foreign office		3,325			3,255			3,733			2	%		(11	%)
Other time		4,960			6,008			8,490			(17	%)		(42	%)
Certificates - $100,000 and over		3,085			3,376			4,858			(9	%)		(36	%)
Other		16			7			9			147	%		92	%
Federal funds purchased		348			376			376			(7	%)		(7	%)
Other short-term borrowings		3,793			4,033			1,728			(6	%)		119	%
Long-term debt		9,707			10,136			10,298			(4	%)		(6	%)
Total interest-bearing liabilities		71 ,467			72,473			72,657			(1	%)		(2	%)
Demand deposits		26,069			23,677			21,066			10	%		24	%
Other liabilities		4,536			4,275			4,099			6	%		11	%
Total liabilities		102,072			100,425			97,822			2	%		4	%
Equity		13,196			12,870			14,036			3	%		(6	%)
Total liabilities and equity	$	115,268		$	113,295		$	111,858			2	%		3	%
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		4.28	%		4.29	%		4.64	%
Commercial mortgage loans		3.89	%		3.94	%		4.17	%
Commercial construction loans		3.04	%		3.02	%		2.90	%
Commercial leases		3.87	%		3.87	%		4.21	%
Residential mortgage loans		4.16	%		4.47	%		4.64	%
Home equity		3.87	%		3.89	%		3.98	%
Automobile loans		4.27	%		4.52	%		5.41	%
Credit card		9.66	%		9.49	%		10.55	%
Other consumer loans and leases		36.95	%		30.76	%		18.68	%
Total loans and leases		4.41	%		4.48	%		4.78	%
Taxable securities		3.75	%		3.88	%		3.88	%
Tax exempt securities		5.42	%		5.84	%		4.27	%
Other short-term investments		0.24	%		0.25	%		0.25	%
Total interest-earning assets		4.23	%		4.28	%		4.52	%
Interest-bearing liabilities:
Interest checking		0.24	%		0.25	%		0.28	%
Savings		0.23	%		0.25	%		0.45	%
Money market		0.22	%		0.27	%		0.34	%
Foreign office		0.25	%		0.26	%		0.34	%
Other time		1.77	%		2.27	%		2.39	%
Certificates - $100,000 and over		1.73	%		2.09	%		1.94	%
Other		0.03	%		0.03	%		0.26	%
Federal funds purchased		0.10	%		0.10	%		0.19	%
Other short-term borrowings		0.10	%		0.10	%		0.19	%
Long-term debt		3.09	%		2.85	%		2.72	%
Total interest-bearing liabilities		0.79	%		0.86	%		1.04	%
Ratios:
Net interest margin (taxable equivalent)		3.67	%		3.65	%		3.75	%
Net interest rate spread (taxable equivalent)		3.44	%		3.42	%		3.48	%
Interest-bearing liabilities to interest-earning assets		71.81	%		73.83	%		74.74	%

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date						% Change
	December 2011			December 2010			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	28,546		$	26,334			8	%
Commercial mortgage loans		10,447			11,585			(10	%)
Commercial construction loans		1,740			3,066			(43	%)
Commercial leases		3,341			3,343			—
Residential mortgage loans		11,318			9,868			15	%
Home equity		11,077			11,996			(8	%)
Automobile loans		11,352			10,427			9	%
Credit card		1,864			1,870			—
Other consumer loans and leases		529			743			(29	%)
Taxable securities		15,334			16,054			(4	%)
Tax exempt securities		103			317			(67	%)
Other short-term investments		2,031			3,328			(39	%)
Total interest-earning assets		97,682			98,931			(1	%)
Cash and due from banks		2,352			2,245			5	%
Other assets		15,335			14,841			3	%
Allowance for loan and lease losses		(2,703	)		(3,583	)		(25	%)
Total assets	$	112,666		$	112,434			—
Liabilities
Interest-bearing liabilities:
Interest checking	$	18,707		$	18,218			3	%
Savings		21,652			19,612			10	%
Money market		5,154			4,808			7	%
Foreign office		3,490			3,355			4	%
Other time		6,260			10,526			(41	%)
Certificates - $100,000 and over		3,656			6,083			(40	%)
Other		7			6			6	%
Federal funds purchased		345			291			18	%
Other short-term borrowings		2,777			1,635			70	%
Long-term debt		10,154			10,902			(7	%)
Total interest-bearing liabilities		72,202			75,436			(4	%)
Demand deposits		23,389			19,669			19	%
Other liabilities		4,189			3,580			17	%
Total liabilities		99,780			98,685			1	%
Equity		12,886			13,749			(6	%)
Total liabilities and equity	$	112,666		$	112,434			—
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		4.34	%		4.70	%
Commercial mortgage loans		3.99	%		4.11	%
Commercial construction loans		3.06	%		3.01	%
Commercial leases		3.99	%		4.40	%
Residential mortgage loans		4.45	%		4.84	%
Home equity		3.91	%		4.00	%
Automobile loans		4.67	%		5.83	%
Credit card		9.86	%		10.73	%
Other consumer loans and leases		25.77	%		15.58	%
Total loans and leases		4.52	%		4.84	%
Taxable securities		3.89	%		4.05	%
Tax exempt securities		5.41	%		3.92	%
Other short-term investments		0.25	%		0.25	%
Total interest-earning assets		4.34	%		4.56	%
Interest-bearing liabilities:
Interest checking		0.26	%		0.29	%
Savings		0.31	%		0.55	%
Money market		0.27	%		0.40	%
Foreign office		0.28	%		0.35	%
Other time		2.23	%		2.62	%
Certificates - $100,000 and over		1.97	%		2.06	%
Other		0.03	%		0.13	%
Federal funds purchased		0.11	%		0.17	%
Other short-term borrowings		0.12	%		0.21	%
Long-term debt		3.01	%		2.65	%
Total interest-bearing liabilities		0.92	%		1.17	%
Ratios:
Net interest margin (taxable equivalent)		3.66	%		3.66	%
Net interest rate spread (taxable equivalent)		3.42	%		3.39	%
Interest-bearing liabilities to interest-earning assets		73.92	%		76.25	%

27

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

		For the Three Months Ended
		December 2011			September 2011			June 2011			March 2011			December 2010
Assets
Interest-earning assets:
Commercial and industrial loans		$	29,954		$	28,824		$	27,970		$	27,404		$	26,509
Commercial mortgage loans			10,350			10,140			10,491			10,816			11,276
Commercial construction loans			1,155			1,777			1,950			2,085			2,289
Commercial leases			3,352			3,300			3,349			3,364			3,314
Residential mortgage loans			12,638			11,224			10,655			10,736			10,693
Home equity			10,810			10,985			11,144			11,376			11,655
Automobile loans			11,696			11,445			11,188			11,070			10,825
Credit card			1,906			1,864			1,834			1,852			1,844
Other consumer loans and leases			417			454			572			676			743
Taxable securities			15,270			15,790			15,115			15,156			15,367
Tax exempt securities			58			64			96			197			268
Other short-term investments			1,915			2,288			1,981			1,937			2,431
Total interest-earning assets			99,521			98,155			96,345			96,669			97,214
Cash and due from banks	��		2,418			2,362			2,356			2,268			2,284
Other assets			15,758			15,381			15,298			14,897			15,449
Allowance for loan and lease losses			(2,429	)		(2,603	)		(2,799	)		(2,990	)		(3,089	)
Total assets		$	115,268		$	113,295		$	111,200		$	110,844		$	111,858
Liabilities
Interest-bearing liabilities:
Interest checking		$	19,263		$	18,322		$	18,701		$	18,539		$	17,578
Savings			21,715			21,747			21,817			21,324			20,602
Money market			5,255			5,213			5,009			5,136			4,985
Foreign office			3,325			3,255			3,805			3,580			3,733
Other time			4,960			6,008			6,738			7,363			8,490
Certificates - $100,000 and over			3,085			3,376			3,955			4,226			4,858
Other			16			7			2			1			9
Federal funds purchased			348			376			344			310			376
Other short-term borrowings			3,793			4,033			1,605			1,638			1,728
Long-term debt			9,707			10,136			10,527			10,255			10,298
Total interest-bearing liabilities			71,467			72,473			72,503			72,372			72,657
Demand deposits			26,069			23,677			22,174			21,582			21,066
Other liabilities			4,536			4,275			4,129			3,809			4,099
Total liabilities			102,072			100,425			98,806			97,763			97,822
Equity			13,196			12,870			12,394			13,081			14,036
Total liabilities and equity		$	115,268		$	113,295		$	111,200		$	110,844		$	111,858
Yield Analysis
Interest-earning assets:
Commercial and industrial loans			4.28	%		4.29	%		4.35	%		4.45	%		4.64	%
Commercial mortgage loans			3.89	%		3.94	%		4.00	%		4.11	%		4.17	%
Commercial construction loans			3.04	%		3.02	%		3.01	%		3.15	%		2.90	%
Commercial leases			3.87	%		3.87	%		4.06	%		4.17	%		4.21	%
Residential mortgage loans			4.16	%		4.47	%		4.54	%		4.67	%		4.64	%
Home equity			3.87	%		3.89	%		3.91	%		3.96	%		3.98	%
Automobile loans			4.27	%		4.52	%		4.81	%		5.10	%		5.41	%
Credit card			9.66	%		9.49	%		9.91	%		10.43	%		10.55	%
Other consumer loans and leases			36.95	%		30.76	%		22.02	%		18.54	%		18.68	%
Total loans and leases			4.41	%		4.48	%		4.54	%		4.67	%		4.78	%
Taxable securities			3.75	%		3.88	%		3.97	%		3.96	%		3.88	%
Tax exempt securities			5.42	%		5.84	%		6.41	%		4.77	%		4.27	%
Other short-term investments			0.24	%		0.25	%		0.25	%		0.25	%		0.25	%
Total interest-earning assets			4.23	%		4.28	%		4.37	%		4.47	%		4.52	%
Interest-bearing liabilities:
Interest checking			0.24	%		0.25	%		0.26	%		0.28	%		0.28	%
Savings			0.23	%		0.25	%		0.33	%		0.43	%		0.45	%
Money market			0.22	%		0.27	%		0.29	%		0.32	%		0.34	%
Foreign office			0.25	%		0.26	%		0.29	%		0.31	%		0.34	%
Other time			1.77	%		2.27	%		2.40	%		2.36	%		2.39	%
Certificates - $100,000 and over			1.73	%		2.09	%		2.05	%		1.99	%		1.94	%
Other			0.03	%		0.03	%		0.02	%		0.05	%		0.26	%
Federal funds purchased			0.10	%		0.10	%		0.11	%		0.14	%		0.19	%
Other short-term borrowings			0.10	%		0.10	%		0.16	%		0.19	%		0.19	%
Long-term debt			3.09	%		2.85	%		3.16	%		2.95	%		2.72	%
Total interest-bearing liabilities			0.79	%		0.86	%		1.00	%		1.02	%		1.04	%
Ratios:
Net interest margin (taxable equivalent)			3.67	%		3.65	%		3.62	%		3.71	%		3.75	%
Net interest rate spread (taxable equivalent)			3.44	%		3.42	%		3.37	%		3.45	%		3.48	%
Interest-bearing liabilities to interest-earning assets			71.81	%		73.83	%		75.25	%		74.87	%		74.74	%

28

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	December 2011		September 2011		June 2011		March 2011		December 2010
Average Loans and Leases
Commercial:
Commercial and industrial loans	$	29,891	$	28,777	$	27,909	$	27,331	$	26,338
Commercial mortgage loans		10,262		10,050		10,394		10,685		10,985
Commercial construction loans		1,132		1,752		1,918		2,030		2,171
Commercial leases		3,351		3,300		3,349		3,364		3,314
Subtotal - commercial		44,636		43,879		43,570		43,410		42,808
Consumer:
Residential mortgage loans		10,464		10,006		9,654		9,282		8,382
Home equity		10,810		10,985		11,144		11,376		11,655
Automobile loans		11,696		11,445		11,188		11,070		10,825
Credit card		1,906		1,864		1,834		1,852		1,844
Other consumer loans and leases		402		441		547		646		722
Subtotal - consumer		35,278		34,741		34,367		34,226		33,428
Total average loans and leases (excluding held for sale)	$	79,914	$	78,620	$	77,937	$	77,636	$	76,236
Average loans held for sale		2,364		1,393		1,216		1,743		2,912
End of Period Loans and Leases
Commercial:
Commercial and industrial loans	$	30,783	$	29,258	$	28,099	$	27,344	$	27,191
Commercial mortgage loans		10,138		10,330		10,233		10,510		10,845
Commercial construction loans		1,020		1,213		1,778		1,980		2,048
Commercial leases		3,531		3,368		3,326		3,367		3,378
Subtotal - commercial		45,472		44,169		43,436		43,201		43,462
Consumer:
Residential mortgage loans		10,672		10,249		9,849		9,530		8,956
Home equity		10,719		10,920		11,048		11,222		11,513
Automobile loans		11,827		11,593		11,315		11,129		10,983
Credit card		1,978		1,878		1,856		1,821		1,896
Other consumer loans and leases		350		407		463		562		681
Subtotal - consumer		35,546		35,047		34,531		34,264		34,029
Total portfolio loans and leases	$	81,018	$	79,216	$	77,967	$	77,465	$	77,491
Core business activity		2,816		1,643		1,009		1,076		1,922
Portfolio management activity		138		197		176		216		294
Total loans held for sale		2,954		1,840		1,185		1,291		2,216
Operating lease equipment		497		462		492		513		479
Loans and Leases Serviced for Others (a):
Commercial and industrial loans		606		640		602		547		490
Commercial mortgage loans		286		301		304		328		337
Commercial construction loans		64		67		67		56		55
Commercial leases		166		94		104		118		125
Residential mortgage loans		57,126		56,483		56,026		55,447		54,234
Home equity		—		—		—		—		—
Automobile loans		—		—		—		—		—
Credit card		—		—		—		—		—
Other consumer loans and leases		—		—		—		—		—
Total loans and leases serviced for others		58,248		57,585		57,103		56,496		55,241
Total loans and leases serviced	$	142,717	$	139,103	$	136,747	$	135,765	$	135,427

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

29

Fifth Third Bancorp and Subsidiaries

Regulatory Capital (a)

$ in millions

(unaudited)

	As of
	December 2011			September 2011			June 2011			March 2011			December 2010
Tier I capital:
Bancorp shareholders’ equity	$	13,201		$	13,029		$	12,572		$	12,162		$	14,051
Goodwill and certain other intangibles		(2,514	)		(2,514	)		(2,536	)		(2,546	)		(2,546	)
Unrealized (gains) losses		(470	)		(542	)		(396	)		(263	)		(314	)
Qualifying trust preferred securities		2,248			2,273			2,312			2,763			2,763
Other		38			20			20			13			11
Total tier I capital	$	12,503		$	12,266		$	11,972		$	12,129		$	13,965
Total risk-based capital:
Tier I capital	$	12,503		$	12,266		$	11,972		$	12,129		$	13,965
Qualifying allowance for credit losses		1,328			1,299			1,275			1,266			1,283
Qualifying subordinated notes		3,054			3,098			2,837			2,780			2,930
Total risk-based capital	$	16,885		$	16,663		$	16,084		$	16,175		$	18,178
Risk-weighted assets (b)	$	104,999		$	102,562		$	100,320		$	99,392		$	100,561
Ratios:
Average shareholders’ equity to average assets		11.41	%		11.33	%		11.12	%		11.77	%		12.52	%
Regulatory capital:
Fifth Third Bancorp
Tier I capital		11.91	%		11.96	%		11.93	%		12.20	%		13.89	%
Total risk-based capital		16.08	%		16.25	%		16.03	%		16.27	%		18.08	%
Tier I leverage		11.10	%		11.08	%		11.03	%		11.21	%		12.79	%
Tier I common equity		9.34	%		9.33	%		9.20	%		8.99	%		7.48	%
Fifth Third Bank
Tier I capital		12.01	%		12.32	%		13.26	%		13.61	%		13.13	%
Total risk-based capital		13.61	%		14.18	%		15.13	%		15.49	%		15.12	%
Tier I leverage		11.20	%		11.40	%		12.25	%		12.49	%		12.08	%
Tier I common equity		12.01	%		12.32	%		13.26	%		13.61	%		13.13	%

(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 by the associated risk weight of the category. The resulting weighted values are added together resulting in the Bancorp’s total risk weighted assets.

30

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	December 2011			September 2011			June 2011			March 2011			December 2010
Average loans and leases (excluding held for sale):
Commercial and industrial loans	$	29,891		$	28,777		$	27,909		$	27,331		$	26,338
Commercial mortgage loans		10,262			10,050			10,394			10,685			10,985
Commercial construction loans		1,132			1,752			1,918			2,030			2,171
Commercial leases		3,351			3,300			3,349			3,364			3,314
Residential mortgage loans		10,464			10,006			9,654			9,282			8,382
Home equity		10,810			10,985			11,144			11,376			11,655
Automobile loans		11,696			11 ,445			11,188			11,070			10,825
Credit card		1,906			1,864			1,834			1,852			1,844
Other consumer loans and leases		402			441			547			646			722
Total average loans and leases (excluding held for sale)	$	79,914		$	78,620		$	77,937		$	77,636		$	76,236
Losses charged off:
Commercial and industrial loans	($	76	)	($	62	)	($	86	)	($	90	)	($	98	)
Commercial mortgage loans		(53	)		(49	)		(51	)		(58	)		(83	)
Commercial construction loans		(6	)		(35	)		(21	)		(27	)		(15	)
Commercial leases		(1	)		—			—			(1	)		(1	)
Residential mortgage loans		(38	)		(38	)		(37	)		(67	)		(63	)
Home equity		(54	)		(56	)		(58	)		(66	)		(68	)
Automobile loans		(20	)		(19	)		(18	)		(28	)		(28	)
Credit card		(25	)		(26	)		(31	)		(33	)		(35	)
Other consumer loans and leases		(7	)		(9	)		(41	)		(27	)		(8	)
Total losses		(280	)		(294	)		(343	)		(397	)		(399	)
Recoveries of losses previously charged off:
Commercial and industrial loans		14			7			10			7			13
Commercial mortgage loans		6			2			4			4			3
Commercial construction loans		2			—			1			1			4
Commercial leases		1			1			2			—			4
Residential mortgage loans		2			2			1			2			1
Home equity		4			3			4			3			3
Automobile loans		7			7			10			8			9
Credit card		4			8			3			2			2
Other consumer loans and leases		1			2			4			3			4
Total recoveries		41			32			39			30			43
Net losses charged off:
Commercial and industrial loans		(62	)		(55	)		(76	)		(83	)		(85	)
Commercial mortgage loans		(47	)		(47	)		(47	)		(54	)		(80	)
Commercial construction loans		(4	)		(35	)		(20	)		(26	)		(11	)
Commercial leases		—			1			2			(1	)		3
Residential mortgage loans		(36	)		(36	)		(36	)		(65	)		(62	)
Home equity		(50	)		(53	)		(54	)		(63	)		(65	)
Automobile loans		(13	)		(12	)		(8	)		(20	)		(19	)
Credit card		(21	)		(18	)		(28	)		(31	)		(33	)
Other consumer loans and leases		(6	)		(7	)		(37	)		(24	)		(4	)
Total net losses charged off	($	239	)	($	262	)	($	304	)	($	367	)	($	356	)
Net charge-off Ratios:
Commercial and industrial loans		0.82	%		0.76	%		1.10	%		1.22	%		1.27	%
Commercial mortgage loans		1.82	%		1.86	%		1.83	%		2.04	%		2.86	%
Commercial construction loans		1.37	%		7.90	%		4.09	%		5.24	%		1.88	%
Commercial leases		(0.01	%)		(0.12	%)		(0.25	%)		0.04	%		(0.34	%)
Residential mortgage loans		1.38	%		1.41	%		1.50	%		2.82	%		2.93	%
Home equity		1.83	%		1.89	%		1.94	%		2.23	%		2.20	%
Automobile loans		0.44	%		0.41	%		0.29	%		0.73	%		0.68	%
Credit card		4.29	%		3.86	%		6.08	%		6.60	%		7.12	%
Other consumer loans and leases		6.75	%		6.67	%		26.47	%		17.16	%		4.09	%
Total net charge-off ratio		1.19	%		1.32	%		1.56	%		1.92	%		1.86	%

31

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	December 2011			September 2011			June 2011			March 2011			Decmeber 2010
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	2,439		$	2,614		$	2,805		$	3,004		$	3,194
Total net losses charged off		(239	)		(262	)		(304	)		(367	)		(356	)
Provision for loan and lease losses		55			87			113			168			166
Allowance for loan and lease losses, ending	$	2,255		$	2,439		$	2,614		$	2,805		$	3,004
Reserve for unfunded commitments, beginning	$	187		$	197		$	211		$	227		$	231
Provision for unfunded commitments		(6	)		(10	)		(14	)		(16	)		(4	)
Reserve for unfunded commitments, ending	$	181		$	187		$	197		$	211		$	227
Components of allowance for credit losses:
Allowance for loan and lease losses	$	2,255		$	2,439		$	2,614		$	2,805		$	3,004
Reserve for unfunded commitments		181			187			197			211			227
Total allowance for credit losses	$	2,436		$	2,626		$	2,811		$	3,016		$	3,231
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	408		$	449		$	485		$	477		$	473
Commercial mortgage loans		358			353			417			415			407
Commercial construction loans		123			151			147			159			182
Commercial leases		9			13			16			11			11
Residential mortgage loans		134			142			145			140			152
Home equity		25			25			26			24			23
Automobile loans		—			—			1			1			1
Other consumer loans and leases		1			1			3			60			84
Total nonaccrual portfolio loans and leases		1,058			1,134			1,240			1,287			1,333
Restructured loans and leases - commercial (non accrual)		160			189			188			149			141
Restructured loans and leases - consumer (non accrual)		220			215			211			209			206
Total nonperforming portfolio loans and leases		1,438			1,538			1,639			1,645			1,680
Repossessed property		14			17			15			20			27
Other real estate owned		364			389			434			461			467
Total nonperforming assets (a)		1,816			1,944			2,088			2,126			2,174
Nonaccrual loans held for sale		131			171			147			184			247
Restructured loans - commercial (non accrual) held for sale		7			26			29			32			47
Total nonperforming assets including loans held for sale	$	1,954		$	2,141		$	2,264		$	2,342		$	2,468
Restructured portfolio consumer loans and leases (accrual)	$	1,612		$	1,601		$	1,593		$	1,573		$	1,560
Restructured portfolio commercial loans and leases (accrual)	$	390		$	349		$	266		$	243		$	228
Ninety days past due loans and leases:
Commercial and industrial loans	$	4		$	9		$	7		$	8		$	16
Commercial mortgage loans		3			10			12			8			11
Commercial construction loans		1			43			48			23			3
Commercial leases		—			1			1			—			—
Total commercial loans and leases		8			63			68			39			30
Residential mortgage loans		79			91			87			98			100
Home equity		74			83			84			84			89
Automobile loans		9			9			10			9			13
Credit card		30			28			30			36			42
Other consumer loans and leases		—			—			—			—			—
Total consumer loans and leases		192			211			211			227			244
Total ninety days past due loans and leases	$	200		$	274		$	279		$	266		$	274
Ratios
Net losses charged off as a percent of average loans and leases		1.19	%		1.32	%		1.56	%		1.92	%		1.86	%
Allowance for loan and lease losses:
As a percent of loans and leases		2.78	%		3.08	%		3.35	%		3.62	%		3.88	%
As a percent of nonperforming loans and leases (a)		157	%		158	%		160	%		170	%		179	%
As a percent of nonperforming assets (a)		124	%		125	%		125	%		132	%		138	%
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		1.76	%		1.93	%		2.09	%		2.11	%		2.15	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		2.23	%		2.44	%		2.66	%		2.73	%		2.79	%
Nonperforming assets as a percent of total loans, leases and other assets, including other real estate owned		2.32	%		2.64	%		2.84	%		2.96	%		3.08	%

(a) Does not include nonaccrual loans held for sale

32

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

	For the Three Months Ended
	December 2011			September 2011			June 2011			March 2011			December 2010
Income before income taxes (U.S. GAAP)		418			530			506			377			417
Add: Provision expense (U.S. GAAP)		55			87			113			168			166
Pre-provision net revenue		473			617			619			545			583
Net income available to common shareholders (U.S. GAAP)		305			373			328			88			270
Add: Intangible amortization, net of tax		3			3			4			5			7
Tangible net income available to common shareholders		308			376			332			93			277
Tangible net income available to common shareholders (annualized) (a)		1,222			1,492			1,332			377			1,099
Average Bancorp shareholders’ equity (U.S. GAAP)		13,147			12,841			12,365			13,052			14,007
Less: Average preferred stock		398			398			398			1,557			3,648
Average goodwill		2,417			2,417			2,417			2,417			2,417
Average intangible assets		42			47			52			59			67
Average tangible common equity (b)		10,290			9,979			9,498			9,019			7,875
Total Bancorp shareholders’ equity (U.S. GAAP)		13,201			13,029			12,572			12,163			14,051
Less: Preferred stock		(398	)		(398	)		(398	)		(398	)		(3,654	)
Goodwill		(2,417	)		(2,417	)		(2,417	)		(2,417	)		(2,417	)
Intangible assets		(40	)		(45	)		(49	)		(55	)		(62	)
Tangible common equity, including unrealized gains / losses (c)		10,346			10,169			9,708			9,293			7,918
Less: Accumulated other comprehensive income / loss		(470	)		(542	)		(396	)		(263	)		(314	)
Tangible common equity, excluding unrealized gains / losses (d)		9,876			9,627			9,312			9,030			7,604
Add: Preferred stock		398			398			398			398			3,654
Tangible equity (e)		10,274			10,025			9,710			9,428			11,258
Total assets (U.S. GAAP)		116,967			114,905			110,805			110,485			111,007
Less: Goodwill		(2,417	)		(2,417	)		(2,417	)		(2,417	)		(2,417	)
Intangible assets		(40	)		(45	)		(49	)		(55	)		(62	)
Tangible assets, including unrealized gains / losses (f)		114,510			112,443			108,339			108,013			108,528
Less: Accumulated other comprehensive income / loss, before tax		(723	)		(834	)		(609	)		(405	)		(483	)
Tangible assets, excluding unrealized gains / losses (g)		113,787			111,609			107,730			107,608			108,045
Total Bancorp shareholders’ equity (U.S. GAAP)		13,201			13,029			12,572			12,163			14,051
Goodwill and certain other intangibles		(2,514	)		(2,514	)		(2,536	)		(2,546	)		(2,546	)
Unrealized gains		(470	)		(542	)		(396	)		(263	)		(314	)
Qualifying trust preferred securities		2,248			2,273			2,312			2,763			2,763
Other		38			20			20			12			11
Tier I capital		12,503			12,266			11,972			12,129			13,965
Less: Preferred stock		(398	)		(398	)		(398	)		(398	)		(3,654	)
Qualifying trust preferred securities		(2,248	)		(2,273	)		(2,312	)		(2,763	)		(2,763	)
Qualifying noncontrolling interest in consolidated subsidiaries		(50	)		(30	)		(30	)		(30	)		(30	)
Tier I common equity (h)		9,807			9,565			9,232			8,938			7,518
Unrealized gains		470			542
Disallowed deferred tax assets		—			—
Disallowed MSRs		70			64
Other		12			10
Less: 10% of individual deferred tax assets, MSRs, investment in financial entities		—			—
15% of aggregate deferred tax assets, MSRs, investment in financial entities		—			—
Tier I common equity, Basel III proforma (i)		10,359			10,181
Common shares outstanding (j)		920			920			920			919			796
Risk-weighted assets, determined in accordance with prescribed regulatory requirements (k)		104,999			102,560			100,320			99,392			100,561
Add: Regulatory deductions not deducted from Tier 1 common equity, risk-weighted at 250%		1,453			1,377
Risk-weighted assets, Basel III proforma (I)		106,452			103,937
Ratios:
Return on average tangible common equity (a) / (b)		11.88	%		14.95	%		14.02	%		4.18	%		13.95	%
Tangible equity (e) / (g)		9.03	%		8.98	%		9.01	%		8.76	%		10.42	%
Tangible common equity (excluding unrealized gains/losses) (d) / (g)		8.68	%		8.63	%		8.64	%		8.39	%		7.04	%
Tangible common equity (including unrealized gains/losses) (c) / (f)		9.04	%		9.04	%		8.96	%		8.60	%		7.30	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (d) / (k)		9.41	%		9.39	%		9.28	%		9.09	%		7.56	%
Tangible book value per share (c) / (j)	$	11.25		$	11.05		$	10.55		$	10.11		$	9.94
Tier I common equity (h) / (k)		9.34	%		9.33	%		9.20	%		8.99	%		7.48	%
Tier I common equity, Basel III proforma (i) / (I)		9.73	%		9.80	%

33

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended December 31 , 201 1	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		359			365			87			28			81			920
Provision for loan and lease losses		(88	)		(92	)		(56	)		(1	)		182			(55	)
Net interest income after provision for loan and lease losses		271			273			31			27			263			865
Total noninterest income		144			205			157			88			(44	)		550
Total noninterest expense		(270	)		(387	)		(171	)		(104	)		(61	)		(993	)
Net income before taxes		145			91			17			11			158			422
Applicable income taxes (a)		(13	)		(32	)		(6	)		(4	)		(53	)		(108	)
Net income		132			59			11			7			105			314
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—
Net income attributable to Bancorp		132			59			11			7			105			314
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders		132			59			11			7			96			305
For the three months ended September 30, 201 1	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		345			359			85			28			85			902
Provision for loan and lease losses		(104	)		(87	)		(55	)		(15	)		174			(87	)
Net interest income after provision for loan and lease losses		241			272			30			13			259			815
Total noninterest income		159			215			191			92			8			665
Total noninterest expense		(262	)		(399	)		(158	)		(105	)		(22	)		(946	)
Net income (loss) before taxes		138			88			63			—			245			534
Applicable income taxes (a)		(10	)		(31	)		(22	)		—			(90	)		(153	)
Net income (loss)		128			57			41			—			155			381
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—
Net income (loss) attributable to Bancorp		128			57			41			—			155			381
Dividends on preferred stock		—			—			—			—			8			8
Net income (loss) available to common shareholders		128			57			41			—			163			373
For the three months ended June 30, 201 1	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		339			359			81			28			62			869
Provision for loan and lease losses		(147	)		(98	)		(55	)		(4	)		191			(113	)
Net interest income after provision for loan and lease losses		192			261			26			24			253			756
Total noninterest income		163			213			167			95			18			656
Total noninterest expense		(280	)		(393	)		(147	)		(104	)		23			(901	)
Net income (loss) before taxes		75			81			46			15			294			511
Applicable income taxes (a)		11			(29	)		(16	)		(5	)		(135	)		(174	)
Net income (loss)		86			52			30			10			159			337
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—
Net income (loss) attributable to Bancorp		86			52			30			—			159			337
Dividends on preferred stock		—			—			—			—			9			9
Net income (loss) available to common shareholders		172			104			60			10			150			328
For the three months ended March 31 , 201 1	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		333			336			93			28			94			884
Provision for loan and lease losses		(152	)		(113	)		(97	)		(5	)		199			(168	)
Net interest income after provision for loan and lease losses		181			223			(4	)		23			293			716
Total noninterest income		175			201			116			98			(6	)		584
Total noninterest expense		(274	)		(392	)		(157	)		(107	)		12			(918	)
Net income (loss) before taxes		82			32			(45	)		14			299			382
Applicable income taxes (a)		7			(11	)		16			(5	)		(124	)		(117	)
Net income (loss)		89			21			(29	)		9			175			265
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—
Net income (loss) attributable to Bancorp		89			21			(29	)		9			175			265
Dividends on preferred stock		—			—			—			—			177			177
Net income (loss) available to common shareholders		89			21			(29	)		9			(2	)		88
For the three months ended December 31 , 201 0	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		390			360			106			29			34			919
Provision for loan and lease losses		(135	)		(120	)		(90	)		(11	)		190			(166	)
Net interest income after provision for loan and lease losses		255			240			16			18			224			753
Total noninterest income		170			220			164			90			12			656
Total noninterest expense		(259	)		(393	)		(155	)		(108	)		(72	)		(987	)
Net income before taxes		166			67			25			—			164			422
Applicable income taxes (a)		(17	)		(26	)		(6	)		—			(39	)		(88	)
Net income		149			41			19			—			125			334
Net income attributable to noncontrolling interest		—			—			—			—			1			1
Net income attributable to Bancorp		149			41			19			—			124			333
Dividends on preferred stock		—			—			—			—			63			63
Net income available to common shareholders		149			41			19			—			61			270

(a) Includes taxable equivalent adjustments of $4 million for the three months ended December 31 , 2011 , $4 million for the three months ended September 30, 2011 , $5 million for the three months ended June 30, 2011, $5 million for the three months ended March 31, 2011 and $5 for the three months ended December 31, 2010.

34