Fifth Third Bank 2010 Annual Report Download - page 129

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Fifth Third Bancorp 127
Results of operations and average assets by segment for each of the three years ended December 31 are:
2010 ($ in millions)
Commercial
Banking
Branch
Banking
Consumer
Lending
Investment
Advisors
General
Corporate Eliminations Total
Net interest income (a) $1,545 1,501 418 138 20 - 3,622
Provision for loan and lease losses 1,159 542 582 44 (789) - 1,538
Net interest income (loss) after provision for loan
and lease losses 386 959 (164) 94 809 - 2,084
Noninterest income:
Mortgage banking net revenue - 27 619 2 (1) - 647
Service charges on deposits 199 369 1 6 (1) - 574
Corporate banking revenue 346 15 - 3 - - 364
Investment advisory revenue 15 106 - 346 - (106)
(b)
361
Card and processing revenue 33 303 (5) 1 (16) - 316
Other noninterest income 42 73 33 (2) 260 - 406
Securities gains (losses), net - - 14 - 47 - 61
Total noninterest income 635 893 662 356 289 (106) 2,729
Noninterest expense:
Salaries, wages and incentives 215 433 168 131 483 - 1,430
Employee benefits 39 119 32 25 99 - 314
Net occupancy expense 16 174 7 9 92 - 298
Technology and communications 14 16 2 2 155 - 189
Equipment expense 2 49 1 1 69 - 122
Card and processing expense 2 102 4 - - - 108
Other noninterest expense 702 648 345 237 (432) (106) 1,394
Total noninterest expense 990 1,541 559 405 466 (106) 3,855
Income before income taxes 31 311 (61) 45 632 - 958
A
pplicable income tax (benefit) expense (a) (134) 110 (21) 16 234 - 205
Net income (loss) 165 201 (40) 29 398 - 753
Less: Net income (loss) attributable to
noncontrolling interest - - - - - - -
Net income (loss) attributable to Bancorp 165 201 (40) 29 398 - 753
Dividends on preferred stock - - - - 250 - 250
Net income (loss) available to common shareholders 165 201 (40) 29 148 - 503
A
verage assets $43,316 49,066 22,260 6,461 (8,669) - 112,434
(a) Includes FTE adjustments of $18.
(b) Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Consolidated Statements of Income
2009 ($ in millions)
Commercial
Banking
Branch
Banking
Consumer
Lending
Investment
Advisors
General
Corporate Eliminations Total
Net interest income (a) $1,383 1,559 494 157 (220) - 3,373
Provision for loan and lease losses 1,360 585 574 57 967 - 3,543
Net interest income (loss) after provision for loan
and lease losses 23 974 (80) 100 (1,187) - (170)
Noninterest income:
Mortgage banking net revenue - 26 526 1 - - 553
Service charges on deposits 196 428 - 8 - - 632
Corporate banking revenue 353 10 - 11 (2) - 372
Investment advisory revenue 11 84 - 315 (1) (83)(b) 326
Card and processing revenue 28 264 4 1 357 (39)(c)615
Gain on sale of Processing Business - - - - 1,758 - 1,758
Other noninterest income 20 86 40 - 333 - 479
Securities gains (losses), net 1 - 57 - (11) - 47
Total noninterest income 609 898 627 336 2,434 (122) 4,782
Noninterest expense:
Salaries, wages and incentives 186 396 160 117 480 - 1,339
Employee benefits 35 106 27 23 120 - 311
Net occupancy expense 17 169 7 10 105 - 308
Technology and communications 6 16 2 2 155 - 181
Equipment expense 3 48 1 1 70 - 123
Card and processing expense 1 68 2 - 122 - 193
Other noninterest expense 741 569 312 201 (330) (122) 1,371
Total noninterest expense 989 1,372 511 354 722 (122) 3,826
Income (loss) before income taxes (357) 500 36 82 525 - 786
A
pplicable income tax (benefit) expense (a) (237) 176 13 29 68 - 49
Net income (loss) (120) 324 23 53 457 - 737
Dividends on preferred stock - - - - 226 - 226
Net income (loss) available to common
shareholders (120) 324 23 53 231 - 511
A
verage assets $46,082 50,019 22,623 5,679 (9,547) - 114,856
(a) Includes FTE adjustments of $19.
(b) Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Consolidated Statements of Income
(c) Card and processing revenues provided to the banking segments are eliminated in the Consolidated Statements of Income.