Fifth Third Bank 2012 Annual Report Download - page 166

164 Fifth Third Bancorp
AVAILABILITY OF FINANCIAL INFORMATION
Fifth Third Bancorp (the “Bancorp”) files reports with the SEC.
Those reports include the annual report on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K and proxy
statements, as well as any amendments to those reports. The
public may read and copy any materials the Bancorp files with the
SEC at the SEC’ s Public Reference Room at 450 Fifth Street,
NW, Washington, DC 20549. The public may obtain information
on the operation of the Public Reference Room by calling the
SEC at 1-800-SEC-0330. The SEC maintains an internet site that
contains reports, proxy and information statements and other
information regarding issuers that file electronically with the SEC
at www.sec.gov. The Bancorp’ s annual report on Form 10-K,
quarterly reports on Form 10-Q, current reports on Form 8-K,
proxy statements, and amendments to those reports filed or
furnished pursuant to section 13(a) or 15(d) of the Exchange Act
are accessible at no cost on the Bancorp’ s web site at
www.53.com on a same day basis after they are electronically
filed with or furnished to the SEC.
PART I
ITEM 1. BUSINESS
General Information
The Bancorp, an Ohio corporation organized in 1975, is a bank
holding company as defined by the Bank Holding Company Act
of 1956, as amended (the “BHCA”), and is registered as such
with the Board of Governors of the Federal Reserve System (the
“FRB”). The Bancorp’ s principal office is located in Cincinnati,
Ohio.
The Bancorp’ s subsidiaries provide a wide range of financial
products and services to the retail, commercial, financial,
governmental, educational and medical sectors, including a wide
variety of checking, savings and money market accounts, and
credit products such as credit cards, installment loans, mortgage
loans and leases. Fifth Third Bank has deposit insurance provided
by the Federal Deposit Insurance Corporation (the “FDIC”)
through the Deposit Insurance Fund. Refer to Exhibit 21 filed as
an attachment to this Annual Report on Form 10-K for a list of
subsidiaries of the Bancorp as of December 31, 2012.
The Bancorp derives the majority of its revenues from the
U.S. Revenue from foreign countries and external customers
domiciled in foreign countries is immaterial to the Bancorp’ s
Consolidated Financial Statements.
Additional information regarding the Bancorp’ s businesses is
included in Management’ s Discussion and Analysis of Financial
Condition and Results of Operations.
Competition
The Bancorp competes for deposits, loans and other banking
services in its principal geographic markets as well as in selected
national markets as opportunities arise. In addition to the
challenge of attracting and retaining customers for traditional
banking services, the Bancorp’ s competitors include securities
dealers, brokers, mortgage bankers, investment advisors and
insurance companies. These competitors, with focused products
targeted at highly profitable customer segments, compete across
geographic boundaries and provide customers increasing access
to meaningful alternatives to banking services in nearly all
significant products. The increasingly competitive environment is
a result primarily of changes in regulation, changes in technology,
product delivery systems and the accelerating pace of
consolidation among financial service providers. These
competitive trends are likely to continue.
Acquisitions
The Bancorp’ s strategy for growth includes strengthening its
presence in core markets, expanding into contiguous markets and
broadening its product offerings while taking into account the
integration and other risks of growth. The Bancorp evaluates
strategic acquisition opportunities and conducts due diligence
activities in connection with possible transactions. As a result,
discussions, and in some cases, negotiations may take place and
future acquisitions involving cash, debt or equity securities may
occur. These typically involve the payment of a premium over
book value and current market price, and therefore, some dilution
of book value and net income per share may occur with any
future transactions.
Regulation and Supervision
In addition to the generally applicable state and federal laws
governing businesses and employers, the Bancorp and its banking
subsidiary are subject to extensive regulation by federal and state
laws and regulations applicable to financial institutions and their
parent companies. Virtually all aspects of the business of the
Bancorp and its banking subsidiary are subject to specific
requirements or restrictions and general regulatory oversight. The
principal objectives of state and federal banking laws and