-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NG5vm7sGLKARb97YxksLQD/YqSiAYtyGceF0TZwyi10bKnzmCC2UHbAU2NZ4oB9c ikQJbcYbRAo+OJFgRt8OEg== 0000950152-97-004849.txt : 19970630 0000950152-97-004849.hdr.sgml : 19970630 ACCESSION NUMBER: 0000950152-97-004849 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970627 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIFTH THIRD BANCORP CENTRAL INDEX KEY: 0000035527 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 310854434 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-08076 FILM NUMBER: 97631994 BUSINESS ADDRESS: STREET 1: 38 FOUNTAIN SQ PLZ STREET 2: FIFTH THIRD CENTER CITY: CINCINNATI STATE: OH ZIP: 45263 BUSINESS PHONE: 5135795300 11-K 1 FIFTH THIRD BANCORP MASTER PROFIT SHARE PLAN 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K [ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1996 ------------------------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the transition period from_________________ to ___________________ Commission file number 000-08076 ------------------------- A. Full title of the plan and the address of the plan, if different from that of the issuer named below: THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN 38 Fountain Square Plaza, Cincinnati, Ohio 45263 B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: FIFTH THIRD BANCORP 38 Fountain Square Plaza, Cincinnati, Ohio 45263 2 FINANCIAL STATEMENTS AND EXHIBITS The following exhibits and financial statements are filed as part of this annual report: Exhibit 23 Independent Auditors' Consent Exhibit 99 Financial Statements and Supplemental Schedules of The Fifth Third Bancorp Master Profit Sharing Plan for the years ended December 31, 1996 and 1995 SIGNATURES The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the Fifth Third Bank Pension and Profit Sharing Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN Date: June 25, 1997 By:/s/ Michael K. Keating Michael K. Keating Member, Pension and Profit Sharing Committee EX-23 2 EXHIBIT 23 1 INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in Registration Statement No. 33-55553 of Fifth Third Bancorp on Form S-8 of our report dated May 30, 1997, appearing in this Annual Report on Form 11-K of The Fifth Third Bancorp Master Profit Sharing Plan for the year ended December 31, 1996. /s/ Deloitte & Touche, LLP Cincinnati, Ohio June 25, 1997 EX-99 3 EXHIBIT 99 1 THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995 AND INDEPENDENT AUDITORS' REPORT FOR INCLUSION IN THE ANNUAL REPORT (FORM 5500) TO THE INTERNAL REVENUE SERVICE 2 INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES FOR THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995 - --------------------------------------------------------------------------------
PAGE INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits as of December 31, 1996 and 1995 2 Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 1996 and 1995 3 Notes to Financial Statements 4-8 SUPPLEMENTAL SCHEDULES: Assets Held for Investment Purposes - Item 27(a) as of December 31, 1996 9-10 Reportable Transactions - Item 27(d) for the Year Ended December 31, 1996 11 SUPPLEMENTAL SCHEDULES OMITTED - The following supplemental schedules are omitted because of the absence of conditions under which they are required: Assets Acquired and Disposed Within the Plan Year Party-in-Interest Transactions Obligations in Default Leases in Default
3 INDEPENDENT AUDITORS' REPORT Fifth Third Bancorp and the Trustees of The Fifth Third Bancorp Master Profit Sharing Plan: We have audited the accompanying statements of net assets available for benefits of The Fifth Third Bancorp Master Profit Sharing Plan (Plan) as of December 31, 1996 and 1995, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 1996 and 1995, and the changes in net assets available for benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules listed in the accompanying index are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in the audit of the basic 1996 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic 1996 financial statements taken as whole. May 30, 1997 4 THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1996 AND 1995 - --------------------------------------------------------------------------------
1996 1995 INVESTMENTS, At fair value (Notes 2,3,4): Common stock of Fifth Third Bancorp $ 16,977,161 $ 12,461,583 Collective Funds: Cash equivalents 8,125,381 10,154,410 Fixed income 61,644,860 48,438,497 Equity 95,417,751 78,459,812 Mutual Funds 27,867,239 20,323,910 Participant notes receivable 40,626 ------------- ------------- Total investments 210,073,018 169,838,212 ACCRUED INVESTMENT INCOME 92,597 83,038 CONTRIBUTIONS RECEIVABLE FROM SUBSIDIARIES OF FIFTH THIRD BANCORP -- 814,659 CONTRIBUTIONS RECEIVABLE FROM PARTICIPANTS 222,029 150,484 CASH (OVERDRAFT) (4,038) 49,899 OTHER LIABILITY (Note 4) (1,004,143) -- ------------- ------------- NET ASSETS AVAILABLE FOR BENEFITS $ 209,379,463 $ 170,936,292 ============= =============
See notes to financial statements. -2- 5 THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEARS ENDED DECEMBER 31, 1996 AND 1995 - --------------------------------------------------------------------------------
1996 1995 ADDITIONS: Income from investments: Interest $ 617,557 $ 655,112 Dividends 1,698,824 272,873 Net appreciation in fair value of investments (Note 3) 24,049,358 30,440,345 ------------- ------------- Total income from investments 26,365,739 31,368,330 ------------- ------------- Contributions from subsidiaries of Fifth Third Bancorp - (net of participants' elective cash payments of $2,862,969 and $2,892,978 in 1996 and 1995, respectively (Note 1) 17,895,857 14,814,659 Contributions from participants (Note 1) 5,755,052 4,214,754 ------------- ------------- Total contributions 23,650,909 19,029,413 ------------- ------------- Transfer of plan assets from acquired banks (Note 5) 3,176,920 2,052,014 ------------- ------------- Total additions 53,193,568 52,449,757 ------------- ------------- DEDUCTIONS: Benefits paid to participants (Note 1) (14,656,636) (10,568,652) Other disbursements (93,761) (69,664) ------------- ------------- Total deductions (14,750,397) (10,638,316) ------------- ------------- INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS 38,443,171 41,811,441 NET ASSETS AVAILABLE FOR BENEFITS: Beginning of year 170,936,292 129,124,851 ------------- ------------- End of year $ 209,379,463 $ 170,936,292 ============= =============
See notes to financial statements -3- 6 THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN NOTES TO FINANCIAL STATEMENTS - -------------------------------------------------------------------------------- 1. DESCRIPTION OF PLAN The following brief description of The Fifth Third Bancorp Master Profit Sharing Plan (the "Plan") is provided for general information purposes only. Participants should refer to the Plan agreement for more complete information. GENERAL - The Plan is a defined contribution profit sharing plan with separate accounts maintained for each participant. Each regular employee of a participating Fifth Third Bancorp ("Bancorp") subsidiary, if employed before November 1, 1996, automatically became a participant on the first payroll date after becoming an employee. Employees whose employment commenced on or after November 1, 1996 shall become participants after one year of service. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The original Plan became effective December 31, 1954 and was last amended in its entirety effective November 1, 1996. As a result of this amendment, modifications to vesting, funding, and contributions became effective on January 1, 1997 and will be effective for the 1997 Plan year. ADMINISTRATION - The Fifth Third Bank, a wholly-owned subsidiary of Bancorp, serves as the trustee of the Plan. The investment assets of the Plan are held in separate trust funds by Fifth Third Investment Advisors where such assets are managed. FUNDING AND VESTING - The Bancorp's contribution to the Plan is an amount determined annually by the Board of Directors of the Bancorp. The contribution by the Bancorp and any nonvested balances remaining in the accounts of participants who terminate their employment are allocated to participants in the proportion that the compensation of each participant bears to the compensation of all participants for the Plan year. Gains and losses under the Plan, including income from investments and changes in the market value of investments, are allocated to participants in proportion to their respective interests in the Plan as of the preceding valuation date, reduced by any payments to retired participants made during the period. Participants may elect to receive up to 50% of their allocation of Bancorp contributions in cash (elective cash payments) rather than having it credited to their account. Elective cash payments totaled $2,862,969 and $2,892,978 for the years ended December 31, 1996 and 1995, respectively, and have been excluded from contributions and benefits paid amounts in the accompanying statements of changes in net assets available for benefits. For the 1996 and 1995 Plan years, the elective portion of Bancorp contributions credited to participants accounts is vested immediately. The remaining portion of Bancorp contributions become vested 30% after three full years of participation, an additional 10% after the fourth year, and an additional 20% each year thereafter until fully vested. The Plan permits voluntary contributions from participants up to 8% of their compensation. Such contributions are credited directly to the participants' accounts and are fully vested. Contributions may be allocated to the available investment options at the discretion of the participant. -4- 7 TERMINATION - Although it has not expressed its intention to do so, The Fifth Third Bank has the right under the Plan to discontinue the contributions of any participating Bancorp subsidiary at any time and to amend or terminate the Plan subject to the provisions set forth in ERISA. If the Plan were to be terminated, the value of the proportionate interest of each participant would be determined as of the date of termination, and this amount would be fully vested and nonforfeitable. BENEFITS - The Plan provides for payment of normal retirement benefits of accumulated vested amounts upon reaching age 65 and has provisions for early withdrawals of vested benefits in instances of early retirement, disability, death, termination of employment, and financial hardship. Benefits are generally payable in the form of lump-sum payments or periodic payments. BENEFITS PAYABLE - Benefits payable, consisting of amounts owed but not paid as of December 31 for payments to terminated employees, are not recorded as a liability within the financial statements. Benefits payable as of December 31, 1996 and 1995 were $1,009,252 and $875,407, respectively. TAX STATUS - The Internal Revenue Service has determined and informed the Bancorp by a letter dated December 5, 1995, that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code (IRC). The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan's tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the Plan's financial statements. INVESTMENT OPTIONS - The Balanced Fund is the basic investment option which is offered to participants. The Balanced Fund contains investments in collective funds invested in money market accounts, equity securities, guaranteed investment contracts, mutual funds and other fixed income securities. The Plan also allows the common stock of Fifth Third Bancorp as an investment option within the Balanced Fund for all participants. Participants who are age 50 and older or become permanently disabled may elect, within specified time periods, to invest their accounts in a Conservative Fund which contains investments in U.S. Government Securities, and collective funds invested in money market accounts, guaranteed investment contracts, U.S. Government Securities and other fixed income securities. In 1990, a fund was established to hold the assets of the merged First Ohio Bancshares Profit Sharing Plan. This Stock Fund contains investments in money market accounts and Fifth Third Bancorp common stock. In 1993, two new funds were established, the Fountain Square Quality Growth Fund and the Fountain Square Mid Cap Fund. In 1994, the Fountain Square International Equity Fund was established. The addition of these funds was made to allow Bancorp employees to choose from six investment options, (Balanced, Conservative, Quality Growth, Mid Cap and International Equity) with their contributions. The Quality Growth, Mid Cap and International Equity funds are mutual funds. During 1996, the Participant Loan Fund was established. -5- 8 PARTICIPANT NOTES RECEIVABLE - Effective as of November 1, 1996, participants may borrow from certain of their fund accounts a minimum of $1,000 up to the lesser of $50,000 or 50% of the nonforfeitable portion of their account balance. Loan transactions are treated as a transfer to (from) the investment fund from (to) the Participant Loan Fund. Each loan, by its terms, is required to be repaid within 5 years. The loans are secured by the balance in the participant's account and bear interest at a rate equal to the rate charged by the Bank on a similar loan as determined quarterly by the plan administrator. Interest rates on loans originated during 1996 were 9.25% (prime + 1%). Principal and interest is paid by the participant through payroll deductions authorized by the participant. -6- 9 The following summarizes the activity and balances of the Plan's seven funds:
Balanced Conservative Stock Quality Mid Cap International Participant Fund Fund Fund Growth Fund Fund Equity Fund Loan Funds Total Net assets available for benefits at December 31, 1994 $107,420,883 $15,465,001 $ 3,151,670 $1,032,710 $1,490,708 $ 563,879 $129,124,851 Income from investments 26,888,202 1,779,333 1,819,215 374,340 418,643 88,597 31,368,330 Contributions 15,883,681 1,208,026 361,908 640,061 619,572 316,165 19,029,413 Benefits paid to participants and other disbursements (7,090,366) (3,032,051) (92,555) (120,523) (262,795) (40,026) (10,638,316) Interfund transfers (781,128) (63,727) 163,859 259,075 373,141 48,780 Transfers of plan assets from acquired banks (222,700) 1,986,265 50,630 150,066 97,111 (9,358) 2,052,014 ------------ ----------- ----------- ---------- ---------- ---------- ------- ------------ Net assets available for benefits at December 31, 1995 142,098,572 17,342,847 5,454,727 2,335,729 2,736,380 968,037 170,936,292 Income from investments 22,516,870 750,245 1,737,601 679,346 591,162 90,506 $ 9 26,365,739 Contributions 20,403,218 (261,328) 1,013,867 1,040,602 1,055,039 399,511 23,650,909 Benefits paid to participants and other disbursements (9,553,775) (1,834,159) (2,513,426) (324,362) (403,052) (121,623) (14,750,397) Interfund transfers (2,115,984) 1,002,308 291,347 431,354 282,100 68,258 40,617 Transfers of plan assets from acquired banks 876,058 33,430 2,007,503 124,686 86,932 48,311 3,176,920 ------------ ----------- ----------- ---------- ---------- ---------- ------- ------------ Net assets available for benefits at December 31, 1996 $174,224,959 $17,033,343 $ 7,991,619 $4,287,355 $4,348,561 $1,453,000 $40,626 $209,379,463 ============ =========== =========== ========== ========== ========== ======= ============
-7- 10 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following are the significant accounting policies followed by the Plan: GENERAL - The accounting records of the Plan are maintained on the accrual basis of accounting. VALUATION OF INVESTMENTS - Quoted market prices are used to value equity securities and mutual funds. The fair values of bonds are based on yields currently available on comparable securities of issuers with similar credit ratings. The fair value of collective funds is based on the fair market value of investments in the fund. USE OF ESTIMATES - The preparation of financial statements in conformity with generally accepted accounting principles requires the plan administrator to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. 3. INVESTMENTS Investments representing more than five percent of net assets at December 31, 1996 and 1995 are as follows:
Fair Value ------------------------------------- 1996 1995 Fifth Third Bank Common Stock Fund for Employee Benefit Plans $ 69,529,914 $ 57,591,212 Fifth Third Bank Fixed Income Fund for Employee Benefit Plans 47,132,399 34,540,666 Fifth Third Bank Middle Capitalization Fund for Employee Benefit Plans 25,887,838 23,581,168 Fountain Square International Equity Fund 19,318,107 15,319,819 Fifth Third Bancorp common stock 16,977,161 12,461,583 U.S. Government Securities Fund for Employee Benefit Plans 14,512,461 13,897,862 G.I.C. Fund for Employee Benefit Plans 6,836,055 9,011,056
The following table represents the net appreciation in fair value of investments for the Plan for the years ended December 31:
1996 1995 Net appreciation in fair value of investments: Common stock of Fifth Third Bancorp $ 3,656,131 $ 4,155,925 Collective funds - fixed income and equity 19,251,106 24,043,418 Mutual funds 1,142,121 2,241,002 ------------- ------------- Total $ 24,049,358 $ 30,440,345 ============= =============
4. TRANSACTIONS WITH RELATED PARTIES The Fifth Third Bank provides the Plan with certain accounting and administrative services for which no fees are charged. During 1996, the Bancorp made a mistaken contribution to the Plan in the amount of $1,004,143 due to an error in computation. As authorized by ERISA Section 403(c)(2)(a) and the governing plan documents, this amount was refunded by the Plan to the Bancorp in 1997 and is shown as a liability at December 31, 1996. -8- 11 At December 31, 1996 and 1995, the Plan held 270,281 and 170,124 shares of Fifth Third Bancorp common stock, respectively, with fair values of $16,977,161 and $12,461,583, respectively (see Note 1). 5. PLAN ASSETS FROM ACQUIRED BANKS During 1996, approximately $3,177,000 was transferred to the Plan as a result of the previous acquisitions of Cumberland Federal Bancorporation, Inc. and certain branches of NBD by the Bancorp. During 1995, approximately $2,052,000 was transferred to the Plan as a result of the acquisitions of Cumberland Federal Bancorporation, Inc. and Mutual Federal Savings Bank of Miamisburg by the Bancorp. * * * * * * -9- 12 SUPPLEMENTAL SCHEDULE THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN ASSETS HELD FOR INVESTMENT PURPOSES - ITEM 27(a) AS OF DECEMBER 31, 1996 - --------------------------------------------------------------------------------
PAR VALUE/ NO. OF CURRENT SHARES ASSET DESCRIPTION COST MARKET BALANCED FUND COLLECTIVE FUNDS - CASH EQUIVALENTS: 766,699 Fifth Third Banksafe Trust $ 766,699 $ 766,699 3,233,905 GIC Fund for Employee Benefit Plans 3,233,905 3,233,905 ----------- ----------- Total Collective Funds - Cash Equivalents 4,000,604 4,000,604 ----------- ----------- COLLECTIVE FUNDS - FIXED INCOME: 1,158,043 Fifth Third Bank Fixed Income Fund for Employee Benefit Plans 30,574,290 41,550,583 32,394 U.S. Government Securities Fund for Employee Benefit Plans 5,476,278 7,139,314 ----------- ----------- Total Collective Funds - Fixed Income 36,050,568 48,689,897 ----------- ----------- COLLECTIVE FUNDS - EQUITY: 399,804 Fifth Third Bank Common Stock Fund for Employee Benefit Plans 32,388,386 69,529,914 461,130 Fifth Third Bank Middle Capitalization Fund for Employee Benefit Plans 13,753,512 25,887,838 ----------- ----------- Total Collective Funds - Equity 46,141,898 95,417,752 ----------- ----------- 144,900 COMMON STOCK - Fifth Third Bancorp 4,830,966 9,101,604 ----------- ----------- 1,711,190 MUTUAL FUNDS - Fountain Square International Equity Fund 17,079,200 17,881,935 ----------- ----------- Total Balanced Fund 108,103,236 175,091,792 ----------- -----------
-10- 13 SUPPLEMENTAL SCHEDULE THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN ASSETS HELD FOR INVESTMENT PURPOSES - ITEM 27(a) AS OF DECEMBER 31, 1996 - --------------------------------------------------------------------------------
PAR VALUE/ NO. OF CURRENT SHARES ASSET DESCRIPTION COST MARKET CONSERVATIVE FUND COLLECTIVE FUNDS - CASH EQUIVALENTS: 444,562 Fifth Third Banksafe Trust $ 444,562 $ 444,562 3,602,150 GIC Fund for Employee Benefit Plans 3,602,150 3,602,150 ------------ -------------- Total Collective Funds - Cash Equivalents 4,046,712 4,046,712 ------------ -------------- COLLECTIVE FUNDS - FIXED INCOME: 155,569 Fifth Third Bank Fixed Income Fund for Employee Benefit Plans 4,217,942 5,581,816 33,455 U.S. Government Securities Fund for Employee Benefit Plans 5,603,934 7,373,147 ------------ -------------- Total Collective Funds - Fixed Income 9,821,876 12,954,963 ------------ -------------- Total Conservative Fund 13,868,588 17,001,675 ------------ -------------- STOCK FUND 78,064 COLLECTIVE FUNDS - CASH EQUIVALENTS - Fifth Third Banksafe Trust 78,064 78,064 125,381 COMMON STOCK - Fifth Third Bancorp 2,802,542 7,875,557 ------------ -------------- Total Stock Fund 2,880,606 7,953,621 ------------ -------------- QUALITY GROWTH FUND 286,267 MUTUAL FUNDS - Fountain Square Quality Growth Fund 3,472,637 4,242,471 ------------ -------------- Total Quality Growth Fund 3,472,637 4,242,471 ------------ -------------- MIDDLE CAPITALIZATION FUND 310,950 MUTUAL FUNDS - Fountain Square Middle Capitalization Fund 3,709,925 4,306,661 ------------ -------------- Total Middle Capitalization Fund 3,709,925 4,306,661 ------------ -------------- INTERNATIONAL EQUITY FUND 137,433 MUTUAL FUNDS - Fountain Square International Equity Fund 1,390,478 1,436,172 ------------ -------------- Total International Equity Fund 1,390,478 1,436,172 ------------ -------------- LOAN FUND PARTICIPANT NOTES RECEIVABLE (interest rate 9.25%) 40,626 -------------- Total Loan Fund 40,626 -------------- TOTAL $ 210,073,018 ==============
-11- 14 SUPPLEMENTAL SCHEDULE THE FIFTH THIRD BANCORP MASTER PROFIT SHARING PLAN REPORTABLE TRANSACTIONS* - ITEM 27(d) FOR THE YEAR ENDED DECEMBER 31, 1996 - --------------------------------------------------------------------------------
AGGREGATE AGGREGATE AGGREGATE PURCHASE SELLING COST OF AGGREGATE DESCRIPTION OF ASSET PRICE PRICE ASSETS SOLD GAIN/(LOSS) SERIES OF TRANSACTIONS: Fifth Third Bank Fixed Income Fund for Employee Benefit Plans $ 12,799,834 $ 1,035,074 $ 779,165 $ 255,909 Number of transactions 6 3 * A reportable transaction is any transaction during the plan year, with respect to any plan asset, involving an amount in excess of 5% of the fair value of net plan assets at the beginning of the plan year. This schedule includes security transactions that are a part of a series of transactions involving securities of the same issue during the plan year, where the aggregate amount involved in the transactions exceeds 5% of the current value of net plan assets at the beginning of the plan year.
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