Fifth Third Bank 2008 Annual Report Download - page 58

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CONSOLIDATED BALANCE SHEETS
56 Fifth Third Bancorp
As of December 31 ($ in millions, except share data) 2008 2007
Assets
Cash and due from banks $2,739 2,660
Available-for-sale and other securities (a) 12,728 10,677
Held-to-maturity securities (b) 360 355
Trading securities 1,191 171
Other short-term investments 3,578 620
Loans held for sale (c) 1,452 4,329
Portfolio loans and leases:
Commercial loans 29,197 24,813
Commercial mortgage loans 12,502 11,862
Commercial construction loans 5,114 5,561
Commercial leases 3,666 3,737
Residential mortgage loans (d) 9,385 10,540
Home equity 12,752 11,874
Automobile loans 8,594 9,201
Credit card 1,811 1,591
Other consumer loans and leases 1,122 1,074
Portfolio loans and leases 84,143 80,253
Allowance for loan and lease losses (2,787) (937)
Portfolio loans and leases, net 81,356 79,316
Bank premises and equipment 2,494 2,223
Operating lease equipment 463 353
Goodwill 2,624 2,470
Intangible assets 168 147
Servicing rights 499 618
Other assets 10,112 7,023
Total Assets $119,764 110,962
Liabilities
Deposits:
Demand $15,287 14,404
Interest checking 13,826 15,254
Savings 16,063 15,635
Money market 4,689 6,521
Other time 14,350 11,440
Certificates - $100,000 and over 11,851 6,738
Foreign office and other 2,547 5,453
Total deposits 78,613 75,445
Federal funds purchased 287 4,427
Other short-term borrowings 9,959 4,747
Accrued taxes, interest and expenses 2,029 2,427
Other liabilities 3,214 1,898
Long-term debt 13,585 12,857
Total Liabilities 107,687 101,801
Shareholders' Equity
Common stock (e) 1,295 1,295
Preferred stock (f) 4,241 9
Capital surplus (g) 848 1,779
Retained earnings 5,824 8,413
Accumulated other comprehensive income (loss) 98 (126)
Treasury stock (229) (2,209)
Total Shareholders' Equity 12,077 9,161
Total Liabilities and Shareholders' Equity $119,764 110,962
(a) Amortized cost:
December 31, 2008 - $12,550
and December 31, 2007 - $10,821
(b)
Market values:
December 31, 2008
- $360
and December 31, 2007 - $355
(c) Includes $881million of residential mortgage loans held for sale measured at fair value at December 31, 2008.
(d) Includes $7 million of residential mortgage loans held for investment measured at fair value at December 31, 2008.
(e) Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at
December 31, 2008 - 577,386,612 (excludes 6,040,492 treasury shares)
and
December 31, 2007 - 532,671,925 (excludes 51,516,339 treasury shares).
(f) 317,680 shares of undesignated no par value preferred stock are authorized of which none had been issued; 7,250 shares of 8.0% cumulative Series D convertible (at $23.5399 per share)
perpetual preferred stock with a stated value of $1,000 per share, which were issued and outstanding at December 31, 2007 and repurchased for $22 million and retired on November 26, 2008;
2,000 shares of 8.0% cumulative Series E perpetual preferred stock with a stated value of $1,000 per share, which were issued and outstanding at December 31, 2007 and repurchased for $6
million and retired on November 26, 2008; 5.0% cumulative Series F perpetual preferred stock with a $25,000 liquidation preference: 136,320 issued and outstanding at December 31, 2008;
8.5% non-cumulative Series G convertible (into 2,159.8272 common shares) perpetual preferred stock with a $25,000 liquidation preference: 46,000 authorized, 44,300 issued and
outstanding at December 31, 2008.
(g) Includes ten-year warrants valued at $239 million to purchase up to 43,617,747 shares of common stock, no par value, related to Series F preferred stock, at an initial exercise price of $11.72
per share.
See Notes to Consolidated Financial Statements.