Fifth Third Bank 2006 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2006 Fifth Third Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

CONSOLIDATED STATEMENTS OF INCOME
Fifth Third Bancorp
50
For the years ended December 31 ($ in millions, except per share data) 2006 2005 2004
Interest Income
Interest and fees on loans and leases $5,000 3,918 2,847
Interest on securities:
Taxable 904 1,032 1,217
Exempt from income taxes 30 39 45
Total interest on securities 934 1,071 1,262
Interest on other short-term investments 21 6 5
Total interest income 5,955 4,995 4,114
Interest Expense
Interest on deposits:
Interest checking 398 314 174
Savings 363 176 58
Money market 261 140 39
Other time 433 263 162
Certificates - $100,000 and over 278 129 48
Foreign office 177 126 58
Total interest on deposits 1,910 1,148 539
Interest on federal funds purchased 208 138 77
Interest on short-term bank notes - 6 15
Interest on other short-term borrowings 194 138 78
Interest on long-term debt 770 600 393
Total interest expense 3,082 2,030 1,102
Net Interest Income 2,873 2,965 3,012
Provision for loan and lease losses 343 330 268
Net Interest Income After Provision for Loan and Lease Losses 2,530 2,635 2,744
Noninterest Income
Electronic payment processing revenue 857 748 631
Service charges on deposits 517 522 515
Mortgage banking net revenue 155 174 178
Investment advisory revenue 367 358 363
Corporate banking revenue 318 299 228
Other noninterest income 300 360 587
Securities gains (losses), net (364) 39 (37)
Securities gains, net - non-qualifying hedges on mortgage servicing rights 3 - -
Total noninterest income 2,153 2,500 2,465
Noninterest Expense
Salaries, wages and incentives 1,174 1,133 1,018
Employee benefits 292 283 261
Equipment expense 122 105 84
Net occupancy expense 245 221 185
Other noninterest expense 1,223 1,185 1,424
Total noninterest expense 3,056 2,927 2,972
Income Before Income Taxes and Cumulative Effect 1,627 2,208 2,237
Applicable income taxes 443 659 712
Income Before Cumulative Effect 1,184 1,549 1,525
Cumulative effect of change in accounting principle, net of tax 4 - -
Net Income $1,188 1,549 1,525
Net Income Available to Common Shareholders
(a) $1,188 1,548 1,524
Earnings per share from continuing operations $2.13 2.79 2.72
Earnings per share from cumulative effect of change in accounting principle, net 0.01 - -
Earnings Per Share $2.14 2.79 2.72
Earnings per diluted share from continuing operations $2.12 2.77 2.68
Earnings per diluted share from cumulative effect of change in accounting principle, net 0.01 - -
Earnings Per Diluted Share $2.13 2.77 2.68
(a) Dividends on preferred stock are $.740 million for all years presented.
See Notes to Consolidated Financial Statements