Fifth Third Announces Fourth Quarter 2019 Results

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[{"type":"text","content":"\nDiluted earnings per share of $0.96, including a positive $0.28 impact from certain items on page 2 of the 4Q19 earnings release\n\n CINCINNATI--(BUSINESS WIRE)--\nFifth Third Bancorp (FITB):\n\n\nKey Highlights\n\n\n\nRecord full year net income of $2.5 billion\n\n\nGenerated $345 million pre-tax gain in 4Q19 from Worldpay tax receivable agreement (TRA) transaction with FIS\n\n\n4Q19 net interest income, NIM, noninterest income, and expense performance in-line with or better than prior guidance\n\n\nEffectively managed interest-bearing core deposit costs better than prior guidance (down 19 bps vs. 3Q19), while continuing to grow core deposits (up 1% vs. 3Q19)\n\n\nGenerated record capital markets revenue in 4Q19; full year revenue up 12%\n\n\nSeveral credit metrics impacted by conversion to national charter; excluding conversion, total NCO ratio up 1 bp from 3Q19 with consumer NCO ratio flat from 3Q19\n\n\nRemain on-track to achieve MB expense savings by the end of 1Q20 ($255 million pre-tax)\n\n\nContinue to realize desired MB employee and client outcomes\n\n\n\n\n\n \n\n\n\nKey Financial Data\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n$ millions for all balance sheet and income statement items\n\n\n\n\n \n\n\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n\n4Q19\n\n\n\n\n3Q19\n\n\n\n\n4Q18\n\n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nIncome Statement Data\n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nNet income available to common shareholders\n\n\n\n\n$\n\n\n\n701\n\n\n\n \n\n\n\n\n$\n\n\n\n530\n\n\n\n \n\n\n\n\n$\n\n\n\n432\n\n\n\n \n\n\n\n\n\n \n\n\n\nNet interest income (U.S. GAAP)\n\n\n\n\n \n\n\n\n1,228\n\n\n\n \n\n\n\n\n \n\n\n\n1,242\n\n\n\n \n\n\n\n\n \n\n\n\n1,081\n\n\n\n \n\n\n\n\n\n \n\n\n\nNet interest income (FTE)(a)\n\n\n\n\n \n\n\n\n1,232\n\n\n\n \n\n\n\n\n \n\n\n\n1,246\n\n\n\n \n\n\n\n\n \n\n\n\n1,085\n\n\n\n \n\n\n\n\n\n \n\n\n\nNoninterest income\n\n\n\n\n \n\n\n\n1,035\n\n\n\n \n\n\n\n\n \n\n\n\n740\n\n\n\n \n\n\n\n\n \n\n\n\n575\n\n\n\n \n\n\n\n\n\n \n\n\n\nNoninterest expense\n\n\n\n\n \n\n\n\n1,160\n\n\n\n \n\n\n\n\n \n\n\n\n1,159\n\n\n\n \n\n\n\n\n \n\n\n\n975\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\...

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