Fifth Third Bank 2013 Annual Report Download - page 91
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CONSOLIDATED STATEMENTS OF INCOME
89 Fifth Third Bancorp
For the years ended December 31 ($ in millions, except per share data) 2013 2012 2011
Interest Income
Interest and fees on loans and leases $ 3,447 3,574 3,613
Interest on securities 520 529 600
Interest on other short-term investments 6 4 5
Total interest income 3,973 4,107 4,218
Interest Expense
Interest on deposits 202 216 352
Interest on other short-term borrowings 6 8 4
Interest on long-term debt 204 288 305
Total interest expense 412 512 661
Net Interest Income 3,561 3,595 3,557
Provision for loan and lease losses 229 303 423
Net Interest Income After Provision for Loan and Lease Losses 3,332 3,292 3,134
Noninterest Income
Mortgage banking net revenue 700 845 597
Service charges on deposits 549 522 520
Corporate banking revenue 400 413 350
Investment advisory revenue 393 374 375
Card and processing revenue 272 253 308
Other noninterest income 879 574 250
Securities gains, net 21 15 46
Securities gains, net - non-qualifying hedges on mortgage servicing rights 13 3 9
Total noninterest income 3,227 2,999 2,455
Noninterest Expense
Salaries, wages and incentives 1,581 1,607 1,478
Employee benefits 357 371 330
Net occupancy expense 307 302 305
Technology and communications 204 196 188
Card and processing expense 134 121 120
Equipment expense 114 110 113
Other noninterest expense 1,264 1,374 1,224
Total noninterest expense 3,961 4,081 3,758
Income Before Income Taxes 2,598 2,210 1,831
A
pplicable income tax expense 772 636 533
Net Income 1,826 1,574 1,298
Less: Net income attributable to noncontrolling interests (10) (2) 1
Net Income Attributable to Bancorp 1,836 1,576 1,297
Dividends on preferred stock 37 35 203
Net Income Available to Common Shareholders $ 1,799 1,541 1,094
Earnings Per Share $ 2.05 1.69 1.20
Earnings Per Diluted Share $ 2.02 1.66 1.18
A
verage common shares - basic 869,462,977 904,425,226 906,460,550
A
verage common shares - diluted 894,736,445 945,554,102 949,545,420
Cash dividends declared per common share $ 0.47 0.36 0.28
See Notes to Consolidated Financial Statements.