Fifth Third Bank 2005 Annual Report Download - page 23

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FIFTH THIRD BANCORP
2005 ANNUAL REPORT
FINANCIAL CONTENTS
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Selected Financial Data 2
2
Overview 23
Recent Accounting Standards 2
4
Critical Accounting Policies 2
4
Risk Factors 2
6
Statements of Income Analysis 2
8
Business Segment Review 33
Fourth Quarter Review 35
Balance Sheet Analysis 3
6
Risk Management 3
8
Controls and Procedures
4
7
Management’s Assessment as to the Effectiveness of Internal Control over Financial Reporting 4
8
Reports of Independent Registered Public Accounting Firm
49
Financial Statements
Consolidated Statements of Income 5
0
Consolidated Balance Sheets 51
Consolidated Statements of Changes in Shareholders’ Equity 5
2
Consolidated Statements of Cash Flows
53
Notes to the Consolidated Financial Statements
Summary of Significant Accounting and Reporting Policies 54 Other Comprehensive Income 69
Securities 59 Common Stock and Treasury Stock 69
Loans and Leases and Allowance for Loan and Lease Losses 60 Stock-Based Compensation 7
0
Bank Premises and Equipment 61 Other Noninterest Income and Other Noninterest Expense 71
Goodwill 61 Sales and Transfers of Loans 7
2
Intangible Assets 62 Discontinued Operations 73
Servicing Rights 62 Income Taxes 7
4
Derivatives 63 Retirement and Benefit Plans 75
Other Assets 65 Earnings Per Share 7
6
Short-Term Borrowings 65 Fair Value of Financial Instruments 7
6
Long-Term Debt 66 Business Combinations 7
7
Commitments and Contingent Liabilities 67 Certain Regulatory Requirements and Capital Ratios 7
8
Legal and Regulatory Proceedings 67 Parent Company Financial Statements 79
Guarantees 68 Segments 79
Related Party Transactions
69
Annual Report on Form 10-K 81
Consolidated Ten Year Comparison 89
Directors and Officers 9
0
Corporate Information 91
FORWARD-LOOKING STATEMENTS
This report may contain forward-looking statements about Fifth Third Bancorp and/or the company as combined acquired entities within the meaning of Sections 27A
of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6
promulgated thereunder, that involve inherent risks and uncertainties. This report may contain certain forward-looking statements with respect to the financial condition,
results of operations, plans, objectives, future performance and business of Fifth Third Bancorp and/or the combined company including statements preceded by,
followed by or that include the words or phrases such as “believes,” “expects,” “anticipates,” “plans,” “trend,” “objective,” “continue,” “remain” or similar expressions
or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions. 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) competitive pressures among depository institutions increase significantly; (2) changes in the interest rate environment reduce interest margins; (3)
prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (4) general economic conditions, either national 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; (5) political developments, wars or other
hostilities may disrupt or increase volatility in securities markets or other economic conditions; (6) changes and trends in the securities markets; (7) 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; (8) difficulties in combining the operations of acquired entities and (9) the
impact of reputational risk created by the developments discussed above on such matters as business generation and retention, funding and liquidity. Fifth Third
undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this report.