534 2219 Katrina Booker (Media) FOR IMMEDIATE RELEASE(513) 534 6858 October 24, 2017 Sample Clauses


534-2219 Katrina Booker (Media) FOR IMMEDIATE RELEASE(513) 534-6858 October 24, 2017. FIFTH THIRD ANNOUNCES THIRD QUARTER 2017 NET INCOME TO COMMON SHAREHOLDERS OF $999 MILLION, OR $1.35 PER DILUTED SHARE • 3Q17 net income available to common shareholders of $999 million, or $1.35 per diluted common share • Results included a positive $0.87 impact on reported 3Q17 earnings per share: • $1.037 billion pre-tax ($679 million after-tax) gain on the sale of Vantiv shares • $47 million pre-tax (~$31 million after-tax)(a) charge related to the valuation of the Visa total return swap • $0.02 negative EPS impact reflecting a specific Vantiv-related tax item and lower equity method income from the reduced interest in Vantiv • Reported net interest income of $970 million; taxable equivalent net interest income of $977 million(b), up 3% from 2Q17 and up 7% from 3Q16 • Taxable equivalent net interest margin of 3.07%(b), up 6 bps from 2Q17 and up 19 bps from 3Q16 • Average portfolio loans and leases of $91.9 billion, flat from 2Q17 and down 2% from 3Q16 • Noninterest income of $1.6 billion, compared with $564 million in 2Q17 and $840 million in 3Q16; performance primarily driven by the Vantiv-related item above • Noninterest expense of $975 million, up 2% from 2Q17 and flat from 3Q16 • Net charge-offs (NCOs) of $68 million, up $4 million from 2Q17 and down $39 million from 3Q16; NCO ratio of 0.29% compared to 0.28% in 2Q17 and 0.45% in 3Q16