Fifth Third Bank 2012 Annual Report Download - page 38

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
36 Fifth Third Bancorp
TABLE 4: CONSOLIDATED AVERAGE BALANCE SHEET AND ANALYSIS OF NET INTEREST INCOME
For the years ended December 31 2012 2011 2010
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 $ 32,911 $1,349 4.10 % $ 28,546 $1,240 4.34 % $ 26,334 $1,238 4.70 %
Commercial mortgage 9,686 369 3.81 10,447 417 3.99 11,585 476 4.11
Commercial construction 835 25 2.99 1,740 53 3.06 3,066 93 3.01
Commercial leases 3,502 127 3.62 3,341 133 3.99 3,343 147 4.40
Subtotal – commercial 46,934 1,870 3.98 44,074 1,843 4.18 44,328 1,954 4.41
Residential mortgage loans 13,370 543 4.06 11,318 503 4.45 9,868 478 4.84
Home equity 10,369 393 3.79 11,077 433 3.91 11,996 479 4.00
A
utomobile loans 11,849 439 3.70 11,352 530 4.67 10,427 608 5.83
Credit card 1,960 192 9.79 1,864 184 9.86 1,870 201 10.73
Other consumer loans/leases 340 155 45.32 529 136 25.77 743 116 15.58
Subtotal – consumer 37,888 1,722 4.54 36,140 1,786 4.94 34,904 1,882 5.39
Total loans and leases 84,822 3,592 4.23 80,214 3,629 4.52 79,232 3,836 4.84
Securities:
Taxable 15,262 527 3.45 15,334 596 3.89 16,054 650 4.05
Exempt from income taxes(a) 57 2 3.29 103 6 5.41 317 13 3.92
Other short-term investments 1,495 4 0.26 2,031 5 0.25 3,328 8 0.25
Total interest-earning assets 101,636 4,125 4.06 97,682 4,236 4.34 98,931 4,507 4.56
Cash and due from banks 2,355 2,352 2,245
Other assets 15,695 15,335 14,841
A
llowance for loan and lease losses (2,072) (2,703) (3,583)
Total assets $ 117,614 $112,666 $ 112,434
Liabilities and Equity
Interest-bearing liabilities:
Interest checking $ 23,096 $49 0.22 % $ 18,707 $49 0.26 % $ 18,218 $52 0.29 %
Savings 21,393 37 0.17 21,652 67 0.31 19,612 107 0.55
Money market 4,903 11 0.22 5,154 14 0.27 4,808 19 0.40
Foreign office deposits 1,528 4 0.27 3,490 10 0.28 3,355 12 0.35
Other time deposits 4,306 68 1.59 6,260 140 2.23 10,526 276 2.62
Certificates - $100,000 and over 3,102 46 1.48 3,656 72 1.97 6,083 125 2.06
Other deposits 27 - 0.13 7 - 0.03 6 - 0.13
Federal funds purchased 560 1 0.14 345 - 0.11 291 1 0.17
Other short-term borrowings 4,246 8 0.18 2,777 3 0.12 1,635 3 0.21
Long-term debt 9,043 288 3.17 10,154 306 3.01 10,902 290 2.65
Total interest-bearing liabilities 72,204 512 0.71 72,202 661 0.92 75,436 885 1.17
Demand deposits 27,196 23,389 19,669
Other liabilities 4,462 4,189 3,580
Total liabilities 103,862 99,780 98,685
Total equity 13,752 12,886 13,749
Total liabilities and equity $ 117,614 $112,666 $ 112,434
Net interest income $3,613 $ 3,575 $ $ 3,622
Net interest margin 3.55 % 3.66 % 3.66 %
Net interest rate spread 3.35 3.42 3.39
Interest-bearing liabilities to interest-earning assets 71.04 73.92 76.25
(a) The FTE adjustments included in the above table are $18 for the years ended December 31, 2012 , 2011 and 2010. The federal statutory rate utilized was 35% for all periods presented.