Fifth Third Bank 2011 Annual Report Download - page 35

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Fifth Third Bancorp 33
TABLE 5: CONSOLIDATED AVERAGE BALANCE SHEET AND ANALYSIS OF NET INTEREST INCOME
For the years ended December 31 2011 2010 2009
Average Average Average
Average Revenue/ Yield/ Average Revenue/ Yield/ Revenue/ Yield/
($ in millions) Balance Cost Rate Balance Cost Rate Volume Cost Rate
A
ssets
Interest-earning assets:
Loans and leases:(a)
Commercial and industrial loans $ 28,546 $1,240 4.34 % $ 26,334 $1,238 4.70 % $27,556 $1,162 4.22 %
Commercial mortgage 10,447 417 3.99 11,585 476 4.11 12,511 545 4.35
Commercial construction 1,740 53 3.06 3,066 93 3.01 4,638 134 2.90
Commercial leases 3,341 133 3.99 3,343 147 4.40 3,543 150 4.24
Subtotal – commercial 44,074 1,843 4.18 44,328 1,954 4.41 48,248 1,991 4.13
Residential mortgage loans 11,318 503 4.45 9,868 478 4.84 10,886 602 5.53
Home equity 11,077 433 3.91 11,996 479 4.00 12,534 520 4.15
A
utomobile loans 11,352 530 4.67 10,427 608 5.83 8,807 556 6.31
Credit card 1,864 184 9.86 1,870 201 10.73 1,907 193 10.10
Other consumer loans/leases 529 136 25.77 743 116 15.58 1,009 86 8.49
Subtotal – consumer 36,140 1,786 4.94 34,904 1,882 5.39 35,143 1,957 5.57
Total loans and leases 80,214 3,629 4.52 79,232 3,836 4.84 83,391 3,948 4.73
Securities:
Taxable 15,334 596 3.89 16,054 650 4.05 16,861 721 4.28
Exempt from income taxes(a) 103 6 5.41 317 13 3.92 239 17 7.19
Other short-term investments 2,031 5 0.25 3,328 8 0.25 1,035 1 0.14
Total interest-earning assets 97,682 4,236 4.34 98,931 4,507 4.56 101,526 4,687 4.62
Cash and due from banks 2,352 2,245 2,329
Other assets 15,335 14,841 14,266
A
llowance for loan and lease losses (2,703) (3,583) (3,265)
Total assets $ 112,666 $ 112,434 $114,856
Liabilities and Equity
Interest-bearing liabilities:
Interest checking $ 18,707 $49 0.26 % $ 18,218 $52 0.29 % $15,070 $40 0.26 %
Savings 21,652 67 0.31 19,612 107 0.55 16,875 127 0.75
Money market 5,154 14 0.27 4,808 19 0.40 4,320 26 0.60
Foreign office deposits 3,490 10 0.28 3,355 12 0.35 2,108 10 0.45
Other time deposits 6,260 140 2.23 10,526 276 2.62 14,103 470 3.33
Certificates - $100,000 and over 3,656 72 1.97 6,083 125 2.06 10,367 280 2.70
Other deposits 7 - 0.03 6 - 0.13 157 - 0.20
Federal funds purchased 345 - 0.11 291 1 0.17 517 1 0.20
Other short-term borrowings 2,777 3 0.12 1,635 3 0.21 6,463 42 0.64
Long-term debt 10,154 306 3.01 10,902 290 2.65 11,035 318 2.89
Total interest-bearing liabilities 72,202 661 0.92 75,436 885 1.17 81,015 1,314 1.62
Demand deposits 23,389 19,669 16,862
Other liabilities 4,189 3,580 3,926
Total liabilities 99,780 98,685 101,803
Total equity 12,886 13,749 13,053
Total liabilities and equity $ 112,666 $ 112,434 $114,856
Net interest income $3,575 $ 3,622 $ $ 3,373
Net interest margin 3.66 % 3.66 % 3.32 %
Net interest rate spread 3.42 3.39 3.00
Interest-bearing liabilities to interest-earning assets 73.92 76.25 79.80
(a) The FTE adjustments included in the above table are
$18
for the years ended
December 31, 2011
and 2010 and $19 for the year ended December 31, 2009. The federal statutory tax rate utilized
was 35% for all periods presented.