Fifth Third Bank 2014 Annual Report Download - page 170
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
168 Fifth Third Bancorp
Results of operations and assets by segment for each of the three years ended December 31 are:
General
Commercial Branch Consumer Investment Corporate
2014 ($ in millions) Banking Banking Lending Advisors and Other Eliminations Total
Net interest income $ 1,652 1,546 257 121 3 - 3,579
Provision for loan and lease losses 235 181 156 3 (260) - 315
Net interest income after provision for loan
and lease losses 1,417 1,365 101 118 263 - 3,264
Noninterest income:
Service charges on deposits 286 272 - 2 - - 560
Corporate banking revenue 429 4 - 2 (5) - 430
Investment advisory revenue 3 152 - 397 1 (146)a
(a)
407
Mortgage banking net revenue - 5 304 1 - - 310
Card and processing revenue 64 226 - 5 - - 295
Other noninterest income 105 61 a
(
b
)
42 3 239 - 450
Securities gains, net - - - - 21 - 21
Securities gains, net - non-qualifying hedges on
mortgage servicing rights - - - - - - -
Total noninterest income 887 720 346 410 256 (146) 2,473
Noninterest expense:
Salaries, wages and incentives 259 421 95 136 538 - 1,449
Employee benefits 47 116 27 26 118 - 334
Net occupancy expense 26 187 8 9 83 - 313
Technology and communications 10 4 2 - 196 - 212
Card and processing expense 8 133 - - - - 141
Equipment expense 10 59 - - 52 - 121
Other noninterest expense 959 631 420 274 (999) (146) 1,139
Total noninterest expense 1,319 1,551 552 445 (12) (146) 3,709
Income (loss) before income taxes 985 534 (105) 83 531 - 2,028
A
pplicable income tax expense (benefit) 166 188 (37) 29 199 - 545
Net income (loss) 819 346 (68) 54 332 - 1,483
Less: Net income attributable to noncontrolling interests - - - - 2 - 2
Net income (loss) attributable to Bancorp 819 346 (68) 54 330 - 1,481
Dividends on preferred stock - - - - 67 - 67
Net income (loss) available to common shareholders $ 819 346 (68) 54 263 - 1,414
Total goodwill $ 613 1,655 - 148 - - 2,416
Total assets $ 56,871 50,920 22,554 10,443 (2,082) - 138,706
(a) Revenue sharing agreements between Investment Advisors and Branch Banking are eliminated in the Consolidated Statements of Income.
(b) Includes an impairment charge of
$20
for branches and land. For more information refer to Note 7 and Note 27 of the Notes to Consolidated Financial Statements.