Fifth Third Bank 2011 Annual Report Download - page 80
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CONSOLIDATED STATEMENTS OF INCOME
78 Fifth Third Bancorp
For the years ended December 31 ($ in millions, except per share data) 2011 2010 2009
Interest Income
Interest and fees on loans and leases $ 3,613 3,823 3,934
Interest on securities 600 658 733
Interest on other short-term investments 5 8 1
Total interest income 4,218 4,489 4,668
Interest Expense
Interest on deposits 352 591 953
Interest on other short-term borrowings 4 4 43
Interest on long-term debt 305 290 318
Total interest expense 661 885 1,314
Net Interest Income 3,557 3,604 3,354
Provision for loan and lease losses 423 1,538 3,543
Net Interest Income (Loss) After Provision for Loan and Lease Losses 3,134 2,066 (189)
Noninterest Income
Mortgage banking net revenue 597 647 553
Service charges on deposits 520 574 632
Investment advisory revenue 375 361 326
Corporate banking revenue 350 364 372
Card and processing revenue 308 316 615
Gain on sale of processing business - - 1,758
Other noninterest income 250 406 479
Securities gains (losses), net 46 47 (10)
Securities gains, net - non-qualifying hedges on mortgage servicing rights 9 14 57
Total noninterest income 2,455 2,729 4,782
Noninterest Expense
Salaries, wages and incentives 1,478 1,430 1,339
Employee benefits 330 314 311
Net occupancy expense 305 298 308
Technology and communications 188 189 181
Card and processing expense 120 108 193
Equipment expense 113 122 123
Other noninterest expense 1,224 1,394 1,371
Total noninterest expense 3,758 3,855 3,826
Income Before Income Taxes 1,831 940 767
A
pplicable income tax expense 533 187 30
Net Income 1,298 753 737
Less: Net income attributable to noncontrolling interests 1 - -
Net Income attributable to Bancorp 1,297 753 737
Dividends on preferred stock 203 250 226
Net Income Available to Common Shareholders $ 1,094 503 511
Earnings Per Share $ 1.20 0.63 0.73
Earnings Per Diluted Share $ 1.18 0.63 0.67
See Notes to Consolidated Financial Statements.