Fifth Third Bank 2010 Annual Report Download - page 71

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CONSOLIDATED STATEMENTS OF INCOME
Fifth Third Bancorp 69
For the years ended December 31 ($ in millions, except per share data) 2010 2009 2008
Interest Income
Interest and fees on loans and leases $3,823 3,934 4,935
Interest on securities 658 733 660
Interest on other short-term investments 8 1 13
Total interest income 4,489 4,668 5,608
Interest Expense
Interest on deposits 591 953 1,289
Interest on other short-term borrowings 4 43 248
Interest on long-term debt 290 318 557
Total interest expense 885 1,314 2,094
Net Interest Income 3,604 3,354 3,514
Provision for loan and lease losses 1,538 3,543 4,560
Net Interest Income (Loss) After Provision for Loan and Lease Losses 2,066 (189) (1,046)
Noninterest Income
Mortgage banking net revenue 647 553 199
Service charges on deposits 574 632 641
Corporate banking revenue 364 372 431
Investment advisory revenue 361 326 366
Card and processing revenue 316 615 912
Gain on sale of processing business -1,758 -
Other noninterest income 406 479 363
Securities gains (losses), net 47 (10) (86)
Securities gains - non-qualifying hedges on mortgage servicing rights 14 57 120
Total noninterest income 2,729 4,782 2,946
Noninterest Expense
Salaries, wages and incentives 1,430 1,339 1,337
Employee benefits 314 311 278
Net occupancy expense 298 308 300
Technology and communications 189 181 191
Equipment expense 122 123 130
Card and processing expense 108 193 274
Goodwill impairment -- 965
Other noninterest expense 1,394 1,371 1,089
Total noninterest expense 3,855 3,826 4,564
Income (Loss) Before Income Taxes 940 767 (2,664)
A
pplicable income tax expense (benefit) 187 30 (551)
Net Income (Loss) 753 737 (2,113)
Less: Net income attributable to noncontrolling interest ---
Net income (loss) attributable to Bancorp 753 737 (2,113)
Dividends on preferred stock 250 226 67
Net Income (Loss) Available to Common Shareholders
$503 511 (2,180)
Earnings Per Share $0.63 0.73 (3.91
)
Earnings Per Diluted Share $0.63 0.67 (3.91
)
See Notes to Consolidated Financial Statements.