Fifth Third Bank 2014 Annual Report Download - page 88
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CONSOLIDATED STATEMENTS OF INCOME
86 Fifth Third Bancorp
For the years ended December 31 ($ in millions, except share data) 2014 2013 2012
Interest Income
Interest and fees on loans and leases $ 3,298 3,447 3,574
Interest on securities 724 520 529
Interest on other short-term investments 8 6 4
Total interest income 4,030 3,973 4,107
Interest Expense
Interest on deposits 202 202 216
Interest on other short-term borrowings 2 6 8
Interest on long-term debt 247 204 288
Total interest expense 451 412 512
Net Interest Income 3,579 3,561 3,595
Provision for loan and lease losses 315 229 303
Net Interest Income After Provision for Loan and Lease Losses 3,264 3,332 3,292
Noninterest Income
Service charges on deposits 560 549 522
Corporate banking revenue 430 400 413
Investment advisory revenue 407 393 374
Mortgage banking net revenue 310 700 845
Card and processing revenue 295 272 253
Other noninterest income 450 879 574
Securities gains, net 21 21 15
Securities gains, net - non-qualifying hedges on mortgage servicing rights - 13 3
Total noninterest income 2,473 3,227 2,999
Noninterest Expense
Salaries, wages and incentives 1,449 1,581 1,607
Employee benefits 334 357 371
Net occupancy expense 313 307 302
Technology and communications 212 204 196
Card and processing expense 141 134 121
Equipment expense 121 114 110
Other noninterest expense 1,139 1,264 1,374
Total noninterest expense 3,709 3,961 4,081
Income Before Income Taxes 2,028 2,598 2,210
A
pplicable income tax expense 545 772 636
Net Income 1,483 1,826 1,574
Less: Net income attributable to noncontrolling interests 2 (10) (2)
Net Income Attributable to Bancorp 1,481 1,836 1,576
Dividends on preferred stock 67 37 35
Net Income Available to Common Shareholders $ 1,414 1,799 1,541
Earnings per share - basic $ 1.68 2.05 1.69
Earnings per share - diluted $ 1.66 2.02 1.66
A
verage common shares outstanding - basic 833,116,349 869,462,977 904,425,226
A
verage common shares outstanding - diluted 842,967,356 894,736,445 945,554,102
Cash dividends declared per common share $ 0.51 0.47 0.36
See Notes to Consolidated Financial Statements.