Fifth Third Bank 2009 Annual Report Download - page 115

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Fifth Third Bancorp 113
(a) Includes fully taxable-equivalent adjustments of $24 million.
(b) Card and processing revenues provided to the banking segments are eliminated in the Consolidated Statements of Income.
(c) Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Consolidated Statements of Income.
2007 ($ in millions)
Commercial
Banking
Branch
Banking
Consumer
Lending
Investment
Advisors
General
Corporate Eliminations Tota
l
Net interest income (a) $1,312 1,463 412 153 (307) - 3,033
Provision for loan and lease losses 127 162 159 12 168 - 628
Net interest income after provision for loan and lease
losses 1,185 1,301 253 141 (475) -2,405
Noninterest income:
Service charges on deposits 152 421 - 7 (1) - 579
Card and processing revenue 15 220 - 1 633 (43)(b)826
Mortgage banking net revenue - 7 122 2 2 - 133
Corporate banking revenue 344 12 - 10 1 - 367
Investment advisory revenue 3 90 - 386 (5) (92)(c) 382
Other noninterest income 63 102 86 2 (100) - 153
Securities gains (losses), net - - 6 - 21 - 27
Total noninterest income 577 852 214 408 551 (135) 2,467
Noninterest expense:
Salaries, wages and incentives 213 379 51 140 456 - 1,239
Employee benefits 42 100 26 27 83 - 278
Net occupancy expense 15 136 8 10 100 - 269
Card and processing expense - 46 4 - 194 - 244
Technology and communications 6 14 1 2 146 - 169
Equipment expense 3 37 1 1 81 - 123
Other noninterest expense 516 450 190 215 (247) (135) 989
Total noninterest expense 795 1,162 281 395 813 (135) 3,311
Income before income taxes 967 991 186 154 (737) - 1,561
Applicable income tax expense (benefit) (a) 253 349 66 55 (238) - 485
Net income 714 642 120 99 (499) - 1,076
Dividends on preferred stock - - - - 1 - 1
Net income available to common shareholders $714 642 120 99 (500) - 1,075
Average assets $38,830 44,615 23,923 5,891 (10,782) - 102,477