Fifth Third Bank 2009 Annual Report Download - page 67

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CONSOLIDATED STATEMENTS OF INCOME
Fifth Third Bancorp 65
For the years ended December 31 ($ in millions, except per share data) 2009 2008 2007
Interest Income
Interest and fees on loans and leases $3,934 4,935 5,418
Interest on securities 733 660 590
Interest on other short-term investments 1 13 19
Total interest income 4,668 5,608 6,027
Interest Expense
Interest on deposits 953 1,289 2,007
Interest on other short-term borrowings 43 248 324
Interest on long-term debt 318 557 687
Total interest expense 1,314 2,094 3,018
Net Interest Income 3,354 3,514 3,009
Provision for loan and lease losses 3,543 4,560 628
Net Interest Income (Loss) After Provision for Loan and Lease Losses (189) (1,046) 2,381
Noninterest Income
Service charges on deposits 632 641 579
Card and processing revenue 615 912 826
Mortgage banking net revenue 553 199 133
Corporate banking revenue 399 444 367
Investment advisory revenue 299 353 382
Gain on sale of processing business 1,758 --
Other noninterest income 479 363 153
Securities gains (losses), net (10) (86) 21
Securities gains - non-qualifying hedges on mortgage servicing rights 57 120 6
Total noninterest income 4,782 2,946 2,467
Noninterest Expense
Salaries, wages and incentives 1,339 1,337 1,239
Employee benefits 311 278 278
Net occupancy expense 308 300 269
Card and processing expense 193 274 244
Technology and communications 181 191 169
Equipment expense 123 130 123
Goodwill impairment -965 -
Other noninterest expense 1,371 1,089 989
Total noninterest expense 3,826 4,564 3,311
Income (Loss) Before Income Taxes 767 (2,664) 1,537
Applicable income tax expense (benefit) 30 (551) 461
Net Income (Loss) 737 (2,113) 1,076
Dividends on preferred stock 226 67 1
Net Income (Loss) Available to Common Shareholders
$511 (2,180) 1,075
Earnings Per Share $0.73 (3.91
)
1.99
Earnings Per Diluted Share $0.67 (3.91
)
1.98
See Notes to Consolidated Financial Statements.