QUOTE AND NEWS
Market Intelligence Center  4 hrs ago  Comment 
Fifth Third Bancorp (FITB) is a good candidate for a covered call at the $20.00 level. The May. '15 call at that price should fetch a credit of about $1.20, which means the entire position has a net debit of about $18.90. This trade has 3.73%...
Motley Fool  Sep 29  Comment 
I'm buying these three stocks in my real-money portfolio.
DailyFinance  Sep 24  Comment 
Fifth Third Bank has announced the formation of the Payments and Commerce Solutions division. The new division was created to rethink the payment and commerce experience with innovation that delivers greater value to...
DailyFinance  Sep 18  Comment 
Fifth Third Bank today announced its sponsorship of Dave Ramsey’s Foundations in Personal Finance course for the 2014-2015 school year. The Bank will sponsor the course in 1,827 high schools throughout its 12-state ...
SeekingAlpha  Sep 16  Comment 
By Christopher F. Davis: Fifth Third Bancorp (NASDAQ:FITB) just announced its quarterly cash dividend payments. A cash dividend on its common shares of $0.13 was declared for the third quarter. The dividend is payable on October 16, 2014 to...
SeekingAlpha  Sep 9  Comment 
By Christopher F. Davis: Fifth-Third Bancorp (NASDAQ:FITB) just announced an important change in its management as well as its reporting structure. The change will involve replacing the mortgage division president, one of the most successful...
Benzinga  Sep 9  Comment 
Fifth Third Bancorp (NASDAQ: FITB) today announced that Michelle Van Dyke, currently regional president, has been named president of Fifth Third Mortgage Company effective immediately, replacing Bob Lewis who is retiring Sept. 19. In her new...
DailyFinance  Sep 2  Comment 
Fifth Third Bancorp (NASDAQ: FITB) will present at the Barclays Capital 2014 Global Financial Services Conference in New York City on Monday, September 8 at approximately 11:15 AM ET. Kevin T. Kabat, vice chairman and...
DailyFinance  Sep 2  Comment 
Fifth Third Bank has renewed its relationship with Roush Fenway Racing as a primary sponsor on the No. 17 NASCAR Sprint Cup Series (NSCS) Ford with driver Ricky Stenhouse Jr. in a multi-year deal. No. 17 Fifth Third Ford (Photo:...
SeekingAlpha  Jul 28  Comment 
By Ashleigh Rogers: It has been a slow recovery since the recession for Midwest focused Fifth Third Bank (NASDAQ:FITB). The Cincinnati-based $17B (market cap) regional bank is concentrated in Michigan, Illinois, and Ohio which were both hit pretty...




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With more than $100 billion in assets and just over 21,000 employees, Fifth Third Bancorp is one of the top 15 banks in the country on numerous metrics. The Cincinnati-based company operates 18 affiliates, with 1,167 branches and over 2,130 ATMs (on its proprietary Jeanie network) in the Midwest, Arizona, and Florida. FITB now classifies its services into five segments: Branch Banking, Consumer Lending, Commercial Banking, Investment Advisory Services, and Electronic Payment Processing. Branch Banking (36% of segment net revenues in 2006) provides deposit services, loans, and credit cards to retail consumers, while Consumer Lending (11%) includes mortgage and home equity lending and other indirect lending. Commercial Banking (31%) includes general banking, cash management, and financial services offered to businesses and government agencies. Investment Advisory Services (9%) consists of proprietary mutual funds, securities brokerage, and asset management services, while electronic funds transfer and merchant transaction processing services comprise the Electronic Payment Processing segment (14%). Non-interest income accounted for 46% of core net revenue in 2006.

As management has stated repeatedly, deposit growth is a top priority at Fifth Third. FITB's expansion strategy has a clear retail focus, involving a combination of de novo branching and acquisitions. De novo expansion continues, with FITB opening 31 net new locations in 2006 (and 63 in 2005). Acquisition activity remains slow, as sellers' expectations are high, but FITB continues to look at deals. In January 2005, FITB acquired First National Bankshares of Florida, adding nearly $4 billion in loans and deposits to its Florida franchise. The FLB deal greatly expanded FITB's presence in Florida, increasing its Florida franchise to nearly 100 full-service locations. On May 21, 2007, FITB announced that it has signed a definitive agreement to acquire R-G Crown Bank from R-G Financial Corp that operates 30 bank branches in the Sunshine State, as well as three in Augusta, Georgia. More recently, on August 16, 2007,Fifth Third Bancorp announced the acquisition of First Charter Corp., expanding its footprint in the North Carolina and Atlanta markets.

Real estate loans (including commercial and consumer, mortgage and construction) accounted for 49% of total loans outstanding at June 30, 2007, followed by commercial (34%), and consumer (16%). The securities portfolio represented 13% of average earning assets in 2Q07, continuing the effect of 4Q06 balance sheet restructuring, and we expect the run-off to continue, albeit slowly. Non-interest-bearing and other low-cost deposits funded 55.5% of average earning assets in the quarter, with time and foreign deposits and borrowings accounting for 22.1% and 20.4% of the funding, respectively. As of June 30, 2007, FITB had $77.4 billion in loans and leases, $69.2 billion in deposits and $101.4 billion in total assets.




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