Fifth Third Bank 2001 Annual Report Download - page 38

FIFTH THIRD BANCORP AND SUBSIDIARIES
36
Independent Auditors’ Report
Fifth Third Funds® Performance Disclosure
*Investments in the Fifth Third Funds are: NOT INSURED BY THE FDIC or any other government agency, are not deposits or
obligations of, or guaranteed by, any bank, the distributor or any of their affiliates, and involve investment risks, including the possible
loss of the principal amount invested. For more information on the Fifth Third Funds, including charges and expenses, call 1-888-889-1025 for a
prospectus. Read it carefully before you invest or send money. Fifth Third Funds Distributor, Inc. is the distributor for the funds. There are risks
associated with investing in small cap companies, which tend to be more volatile and less liquid than stocks of large companies, including increased risk
of price fluctuations. International investing involves increased risk and volatility. A portion of income may be subject to some state and/or local taxes
and for certain investors, a portion may be subject to the federal alternative minimum tax. Past performance is no guarantee of future results.
Independent Auditors’ Report
To the Shareholders and Board of Directors of Fifth Third Bancorp:
We have audited the consolidated balance sheets of Fifth Third
Bancorp and subsidiaries (“Bancorp”) as of December 31, 2001 and
2000, and the related consolidated statements of income, changes in
shareholders’ equity, and cash flows for each of the three years in the
period ended December 31, 2001. These financial statements are
the responsibility of the Bancorp’s management. Our responsibility
is to express an opinion on the financial statements based on our
audits. The consolidated financial statements give retroactive effect
to the merger of the Bancorp and Old Kent Financial Corporation
(“Old Kent”), which has been accounted for as a pooling of interests
as described in Note 20 to the consolidated financial statements. We
did not audit the balance sheet of Old Kent as of December 31,
2000, or the related statements of income, changes in shareholders’
equity, and cash flows of Old Kent for the years ended December
31, 2000 and 1999, which statements reflect total assets of
$23,842,289,000 as of December 31, 2000, and total interest
income and other income of $2,129,369,000 and $1,918,093,000
for the years ended December 31, 2000 and 1999, respectively.
Those statements were audited by other auditors whose report has
been furnished to us, and our opinion, insofar as it relates to the
amounts included for Old Kent for 2000 and 1999, is based solely
on the report of such other auditors.
We conducted our audits in accordance with auditing standards
generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits
and the report of the other auditors provide a reasonable basis for
our opinion.
In our opinion, based on our audits and the report of the other
auditors, the consolidated financial statements referred to above
present fairly, in all material respects, the financial position of Fifth
Third Bancorp and subsidiaries at December 31, 2001 and 2000,
and the results of their operations and their cash flows for each of the
three years in the period ended December 31, 2001 in conformity
with accounting principles generally accepted in the United States of
America.
Cincinnati, Ohio
January 15, 2002