Exhibit 99.1

		News Release
CONTACTS:	Jim Eglseder (Investors) (513) 534-8424 Rich Rosen (Investors) (513) 534-3307 Debra DeCourcy, APR (Media) (513) 534-6957	FOR IMMEDIATE RELEASE July 23, 2009

FIFTH THIRD BANCORP REPORTS SECOND QUARTER EARNINGS

Net Income of $882 million, Exceeds Tier 1 Common Commitment by 60%

• Generated over $1.4 billion in tangible common equity through the combination of an “at the market” common equity offering and exchange of cash and common stock for convertible preferred stock

• Subsequent to the close of the second quarter, Fifth Third sold its Visa, Inc. class B common stock for an after-tax benefit of approximately $206 million

• These actions result in Tier 1 common equity credit under the SCAP assessment of $1.75 billion, exceeding Fifth Third’s $1.1 billion SCAP commitment by 60%

• Completed sale of an approximate 51% interest in Fifth Third’s processing business, resulting in a gain of $1.8 billion pre-tax, or $1.1 billion after-tax

• Tier 1 common ratio of 7.0%, Tier 1 ratio of 12.9% as of June 30, 2009

• Visa transaction improves pro forma capital ratios by approximately 19 bps; pro forma Tier 1 common equity ratio of 7.2%

• Average core deposits increased 9% from the previous year; wholesale funding reduced by nearly $7 billion reflecting strong liquidity position

• Net interest margin of 3.26%, up 20 bps sequentially

• Noninterest income increased 11% on strong mortgage banking and payments processing revenue, excluding gain from processing joint venture and investment securities gains/losses

• Allowance to loan ratio increased to 4.28%, allowance to nonperforming loans ratio of 135%, allowance to annualized net charge-off ratio of 1.4 times

• Extended over $21 billion of new and renewed credit in the second quarter

Earnings Highlights

	For the Three Months Ended															% Change
	June 2009			March 2009			December 2008			September 2008			June 2008			Seq		Yr/Yr
Earnings ($ in millions)
Net income (loss)	$	882		$	50		($	2,142	)	($	56	)	($	202	)	1666	%	NM
Net income (loss) available to common shareholders	$	856		($	26	)	($	2,184	)	($	81	)	($	202	)	NM		NM
Common Share Data
Earnings per share, basic		1.35			(0.04	)		(3.78	)		(0.14	)		(0.37	)	NM		NM
Earnings per share, diluted		1.15			(0.04	)		(3.78	)		(0.14	)		(0.37	)	NM		NM
Cash dividends per common share		0.01			0.01			0.01			0.15			0.15		—		(93	%)
Financial Ratios
Return on average assets		3.05	%		0.17	%		(7.16	%)		(.19	%)		(.72	%)	1694	%	NM
Return on average common equity		41.2			(1.4	)		(94.6	)		(3.3	)		(8.5	)	NM		NM
Tier I capital		12.90			10.93			10.59			8.57			8.51		18	%	52	%
Tier I common equity		7.00			4.50			4.37			5.18			5.18		12	%	40	%
Net interest margin (a)		3.26			3.06			3.46			4.24			3.04		7	%	7	%
Efficiency (a)		29.9			65.1			131.3			54.2			58.6		(54	%)	(49	%)
Common shares outstanding (in thousands)		795,313			576,936			577,387			577,487			577,530		38	%	38	%
Average common shares outstanding (in thousands):
Basic		629,789			571,810			571,809			571,705			540,030		10	%	17	%
Diluted		718,245			571,810			571,809			571,705			540,030		26	%	33	%

(a) Presented on a fully taxable equivalent basis

NM: not meaningful

Fifth Third Bancorp (Nasdaq: FITB) today reported second quarter 2009 net income of $882 million, compared with net income of $50 million in the first quarter of 2009 and a net loss of $202 million in the second quarter of 2008. After preferred dividends, second quarter 2009 net income available to common shareholders was $856 million, compared with a net loss of $26 million in the first quarter of 2009 and a net loss of $202 million in the second quarter of 2008. In the quarter, we reported EPS of $1.15 per diluted share, compared with a net loss of $0.04 per diluted share in the first quarter and a net loss of $0.37 per diluted share in the same quarter of 2008.

Second quarter of 2009 net income included a gain of $1,764 million pre-tax, or $1,055 million after-tax, from the completion of the previously announced processing business transaction with Advent International. Results also included a special FDIC deposit insurance fund assessment, which decreased net income by $55 million pre-tax, or $36 million after-tax. Net income available to common shareholders also included a $35 million benefit, recorded as a reduction to preferred dividend expense, reflecting the excess of the carrying value of preferred shares over the fair value of the common shares and cash exchanged through our tender offer for Series G preferred stock. The benefit of this reduction in preferred dividend expense is not included in earnings per diluted share under the “if converted” method (discussed further below) utilized for determining diluted earnings per share in the second quarter.

First quarter 2009 net income benefited by $101 million after-tax, or $0.18 per share, due to the net impact of several significant items. These items included a tax benefit related to the decision to surrender of one of our bank-owned life insurance (BOLI) policies, charges related to this BOLI policy, a reduction in income tax expense and a related charge due to our agreement with the IRS to settle all of Fifth Third’s disputed leveraged leases for all open years, securities losses, and severance expense. Second quarter 2008 results included net charges of approximately $233 million after-tax, or $0.44 per share, related to significant items. These included $130 million pre-tax charge to reflect a projected change in the timing of tax benefits pursuant to FSP FAS 13-2, an increase to tax expense of approximately $140 million required for interest related to previous tax years pursuant to FIN 48, and $13 million pre-tax in acquisition-related expenses.

During the second quarter of 2009, the reported common shares outstanding increased reflecting the effect of shares issued during the quarter through our “at-the-market” common share offering as well as the common shares issued in connection with the exchange of a portion of our Series G preferred stock. Average diluted common shares of 718 million increased 146 million shares from the first quarter of 2009. The increase reflected an average impact of 47 million shares from the issuance of 158 million shares in our common share offering, and 9 million common shares from the exchange. The increase also reflected the inclusion of the 96 million shares underlying our Series G preferred stock, due to the utilization of the “if-converted” method. Period-end common shares of 795 million increased 218 million shares from the first quarter of 2009 due to the issuance of 158 million in the common share offering and 60 million converted through the preferred stock exchange. We would expect our average basic and diluted shares going forward to approximate the period end share count of 795 million, with the remaining 36 million common shares underlying unexchanged Series

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G preferred shares being included in periods when the impact of their inclusion is dilutive to the diluted EPS calculation. The impact of second quarter activities on reported share counts is more fully discussed later in this release.

During the quarter, we completed the sale of a 51 percent interest in our processing business through a joint venture with Advent International. This transaction produced an after-tax gain of $1.1 billion and enhanced our tangible common equity ratios by approximately 100 basis points. Additionally, we successfully issued $1.0 billion of common stock and exchanged 63 percent of our convertible preferred shares into common stock through a cash and stock tender. These two common stock transactions resulted in a further increase in tangible common equity ratio of approximately 130 basis points. Finally, subsequent to the end of the second quarter, we sold our Visa, Inc. class B common shares for an after-tax benefit of approximately $206 million. The combined effect of these transactions has enhanced our tangible common equity by $2.7 billion, or approximately 240 bps, while at the same time increasing tangible book value per share by approximately $1.00 per share to $9.75 on a pro forma basis.

Also during the quarter, the 19 largest U.S. banks completed the results of the Supervisory Capital Assessment Program (SCAP) “stress test.” The purpose of this stress test was to evaluate results, loan losses, and capital levels under a “more adverse scenario” that was viewed as a possible although unlikely development. Under this assessment, Fifth Third committed to increase its Tier 1 common equity by $1.1 billion, a commitment, which has been exceeded by approximately $650 million through the common stock transactions, and Visa sale outlined above. The SCAP required participating banks to take actions to ensure that their Tier 1 common equity ratio would exceed 4 percent of risk-weighted assets under the more adverse scenario. Including the effect of the Visa transaction, our pro forma Tier 1 common equity ratio as of the second quarter of 2009 was 7.2 percent.

“This was an eventful quarter for Fifth Third and for the industry,” said Kevin T. Kabat, Chairman, CEO and President of Fifth Third Bancorp. “We completed our processing joint venture transaction at a gain of $1.1 billion, raised $1.0 billion in new common equity, and brought about the early conversion of 63 percent of our existing convertible preferred stock, further increasing common equity by $441 million. We exceeded the SCAP Tier 1 common equity commitment by 60 percent. Our operating results and credit loss experience through the second quarter have been superior to the results submitted under the SCAP more adverse scenario, and we expect that to remain the case in coming quarters.

Results for the second quarter were in line with our expectations and continue to reflect strong core results coupled with high credit costs. As expected, we saw significant improvement in the net interest margin, up 20 basis points from the prior quarter, driven by improved liability pricing and wider loan spreads, which drove a 7 percent sequential increase in net interest income. We expect expansion in the net interest margin to continue in the second half of the year. Fee growth remained strong, up 11 percent on a core basis from the

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first quarter of 2009. Expense management remains a key focus, and core expenses were relatively flat from the first quarter despite the strong revenue performance.

Credit trends remain difficult and signals regarding future trends are somewhat mixed at this point. We continue to work aggressively to manage the risk in our loan portfolio. As expected, net charge-offs increased from the first quarter to $626 million. We expect loan losses to increase moderately in the third quarter, with higher commercial real estate charge-offs partially offset by lower consumer charge-offs. Second quarter nonperforming asset growth of 7 percent represented deceleration from prior quarters, and significantly lower levels of inflows. We currently expect higher NPA growth in the third quarter although below the levels of growth experienced in prior quarters.

The provision for loan losses exceeded net charge-offs by $415 million, increasing the reserve to loan ratio to 4.28 percent. Our reserve position relative to loans, nonperforming loans, and levels of charge-offs are very strong and we currently do not expect significant additional growth in loan loss reserves to be necessary, absent further deterioration in credit conditions. The level of our reserves coupled with our strong levels of underlying earnings and capital place us in a very strong position to deal with the expected challenges in the remainder of this credit cycle.”

Income Statement Highlights

	For the Three Months Ended														% Change
	June 2009		March 2009			December 2008			September 2008			June 2008			Seq		Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	836	$	781		$	897		$	1,068		$	744		7	%	12	%
Provision for loan and lease losses		1,041		773			2,356			941			719		35	%	45	%
Total noninterest income		2,583		697			642			717			722		271	%	258	%
Total noninterest expense		1,021		962			2,022			967			858		6	%	19	%
Income (loss) before income taxes (taxable equivalent)		1,357		(257	)		(2,839	)		(123	)		(111	)	NM		NM
Taxable equivalent adjustment		5		5			5			5			6		—		(17	%)
Applicable income taxes		470		(312	)		(702	)		(72	)		85		NM		453	%
Net income (loss)		882		50			(2,142	)		(56	)		(202	)	1666	%	NM
Dividends on preferred stock		26		76			42			25			—		(66	%)	NM
Net income (loss) available to common shareholders		856		(26	)		(2,184	)		(81	)		(202	)	NM		NM
Earnings per share, diluted	$	1.15	($	0.04	)	($	3.78	)	($	0.14	)	($	0.37	)	NM		NM

NM: not meaningful

Net Interest Income

	For the Three Months Ended															% Change
	June 2009			March 2009			December 2008			September 2008			June 2008			Seq		Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	1,184		$	1,183		$	1,411		$	1,553		$	1,213		—		(2	%)
Total interest expense		348			402			514			485			469		(13	%)	(26	%)
Net interest income (taxable equivalent)	$	836		$	781		$	897		$	1,068		$	744		7	%	12	%
Average Yield
Yield on interest-earning assets		4.62	%		4.63	%		5.44	%		6.16	%		4.95	%	—		(7	%)
Yield on interest-bearing liabilities		1.67	%		1.89	%		2.28	%		2.25	%		2.23	%	(12	%)	(25	%)
Net interest rate spread (taxable equivalent)		2.95	%		2.74	%		3.16	%		3.91	%		2.72	%	8	%	8	%
Net interest margin (taxable equivalent)		3.26	%		3.06	%		3.46	%		4.24	%		3.04	%	7	%	7	%
Average Balances ($ in millions)
Loans and leases, including held for sale	$	84,996		$	85,829		$	87,426		$	85,772		$	85,212		(1	%)	—
Total securities and other short-term investments		17,762			17,835			15,683			14,515			13,363		—		33	%
Total interest-bearing liabilities		83,407			86,218			89,440			85,990			84,417		(3	%)	(1	%)
Shareholders' equity		12,490			12,084			10,291			10,843			9,629		3	%	30	%

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Net interest income of $836 million on a taxable equivalent basis increased $55 million, or 7 percent, from the first quarter of 2009. The sequential increase was driven by improved spreads on loan originations, and a deposit mix shift to lower cost core deposits as higher priced term deposits issued in the third and fourth quarters of 2008 matured, partially offset by higher non-accrual loan balances.

The reported net interest margin was 3.26 percent, up 20 bps from 3.06 percent in the first quarter of 2009. The sequential increase in net interest margin was largely driven by the factors outlined above.

Compared with the second quarter of 2008, net interest income increased $92 million and the net interest margin increased 22 bps from 3.04 percent. Second quarter 2008 results included the effect of the changes in estimated cash flows on certain leveraged lease transactions that reduced net interest income by approximately $130 million. Excluding the leveraged lease litigation charge recorded in the second quarter of 2008, net interest income declined by $38 million from the same period in 2008 and the net interest margin declined 30 bps. The declines in net interest income and net interest margin were largely driven by shift in deposit mix toward higher priced certificates of deposit (CDs) in the latter part of 2008 and higher interest reversals, partially offset by improved pricing spreads on loan originations.

Average Loans

	For the Three Months Ended										% Change
	June 2009		March 2009		December 2008		September 2008		June 2008		Seq		Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial loans	$	28,027	$	28,949	$	30,227	$	28,284	$	28,299	(3	%)	(1	%)
Commercial mortgage		12,463		12,508		13,189		13,257		12,590	—		(1	%)
Commercial construction		4,672		4,987		5,990		6,110		5,700	(6	%)	(18	%)
Commercial leases		3,512		3,564		3,610		3,641		3,747	(1	%)	(6	%)
Subtotal - commercial loans and leases		48,674		50,008		53,016		51,292		50,336	(3	%)	(3	%)
Consumer:
Residential mortgage loans		8,713		9,195		9,335		9,681		9,922	(5	%)	(12	%)
Home equity		12,636		12,763		12,677		12,534		12,012	(1	%)	5	%
Automobile loans		8,692		8,687		8,428		8,303		8,439	—		3	%
Credit card		1,863		1,825		1,748		1,720		1,703	2	%	9	%
Other consumer loans and leases		995		1,083		1,165		1,165		1,125	(8	%)	(12	%)
Subtotal - consumer loans and leases		32,899		33,553		33,353		33,403		33,201	(2	%)	(1	%)
Total average loans and leases (excluding held for sale)	$	81,573	$	83,561	$	86,369	$	84,695	$	83,537	(2	%)	(2	%)
Average loans held for sale		3,422		2,268		1,057		1,077		1,676	51	%	104	%

Average portfolio loan and lease balances decreased 2 percent both sequentially and compared with the second quarter of 2008. The decline was due to lower customer demand for loans as both consumer and commercial customers are using credit more cautiously. Excluding the impact of $1.3 billion in commercial loans sold or transferred to held-for-sale during the fourth quarter of 2008 and the impact of loans charged-off, period-end portfolio loan and lease balances were flat versus the previous year.

Average commercial loan and lease balances decreased 3 percent both sequentially and compared with the second quarter of the previous year. During the second quarter of 2009, commercial and industrial (C&I)

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average loans decreased by 3 percent, primarily due to lower customer line usage, which accounted for about $700 million of the $900 million decline. Excluding commercial loans charged-off and the impact of loans that were either sold or transferred to held-for-sale in the fourth quarter of 2008, period-end commercial loan and lease balances declined by 1 percent sequentially and from the previous year. Average commercial mortgage and commercial construction loan balances declined by a combined 2 percent sequentially.

Average consumer loan and lease balances decreased 2 percent sequentially and declined 1 percent from the second quarter of 2008. Sequentially, modest credit card loan growth was more than offset by a decline in home equity and residential mortgage loan balances. On a year-over-year basis, growth in home equity, auto, and credit card loans was more than offset by a reduction in residential mortgages. Excluding loans charged-off, period-end consumer loans were flat relative to the previous year.

High mortgage origination volumes during the second quarter of 2009 drove a $1.2 billion increase in the warehouse of residential mortgages held-for-sale on an average basis. The majority of Fifth Third’s mortgages are originated to be sold to agencies, and are not reflected in portfolio loans or portfolio loan growth.

Average Deposits

	For the Three Months Ended										% Change
	June 2009		March 2009		December 2008		September 2008		June 2008		Seq		Yr/Yr
Average Deposits ($ in millions)
Demand deposits	$	16,689	$	15,532	$	14,602	$	14,225	$	14,023	7	%	19	%
Interest checking		14,837		14,229		13,698		13,843		14,396	4	%	3	%
Savings		16,705		16,272		15,960		16,154		16,583	3	%	1	%
Money market		4,167		4,559		4,983		6,051		6,592	(9	%)	(37	%)
Foreign office (a)		1,717		1,755		1,876		2,126		2,169	(2	%)	(21	%)
Subtotal - Transaction deposits		54,115		52,347		51,119		52,399		53,763	3	%	1	%
Other time		14,612		14,501		13,337		10,780		9,517	1	%	54	%
Subtotal - Core deposits		68,727		66,848		64,456		63,179		63,280	3	%	9	%
Certificates - $100,000 and over		11,455		11,802		12,468		11,623		8,143	(3	%)	41	%
Other		240		247		1,090		395		2,948	(3	%)	(92	%)
Total deposits	$	80,422	$	78,897	$	78,014	$	75,197	$	74,371	2	%	8	%

(a) Includes commercial customer Eurodollar sweep balances for which the Bancorp pays rates comparable to other commercial deposit accounts.

Average core deposits increased 3 percent sequentially and 9 percent from the second quarter of 2008. Acquisitions had a 3 percent beneficial effect on the year-over-year comparison. On both a sequential and year-over-year basis, growth in average demand deposit (DDA) - up 19 percent year-over-year and up 7 percent sequentially - interest checking, savings, and consumer CD balances were partially offset by lower money market and foreign office commercial sweep deposits. Average transaction deposits (excluding consumer time deposits) were up 3 percent from first quarter 2009 and increased 1 percent from a year ago. Sequential and year-over-year growth was driven by strong checking account balance growth partially offset by migration of money market balances to CDs that offered higher rates.

Retail average core deposits increased 3 percent sequentially and increased 11 percent from the second quarter of 2008. Sequential growth in DDA, interest checking, savings, and consumer CD balances was

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partially offset by lower money market balances, a result of migration into higher-rate consumer CDs. Higher average account balances drove DDA growth, and strong account production drove the increase in savings account balances. Commercial core deposits increased 2 percent sequentially and 3 percent from the previous year. Sequential growth in DDA and interest checking account balances, driven by higher average account balances, more than offset lower savings and money market account balances.

Noninterest Income

	For the Three Months Ended														% Change
	June 2009		March 2009			December 2008			September 2008			June 2008			Seq		Yr/Yr
Noninterest Income ($ in millions)
Electronic payment processing revenue	$	243	$	223		$	230		$	235		$	235		9	%	4	%
Service charges on deposits		162		146			162			172			159		11	%	2	%
Investment advisory revenue		73		76			78			90			92		(4	%)	(21	%)
Corporate banking revenue		99		116			121			104			111		(15	%)	(11	%)
Mortgage banking net revenue		147		134			(29	)		45			86		10	%	72	%
Gain on sale of FTPS joint venture		1,764		—			—			—			—		NM		NM
Other noninterest income		49		10			24			112			49		380	%	(1	%)
Securities gains (losses), net		5		(24	)		(40	)		(63	)		(10	)	NM		NM
Securities gains, net - non-qualifying hedges on mortgage servicing rights		41		16			96			22			—		157	%	NM
Total noninterest income	$	2,583	$	697		$	642		$	717		$	722		271	%	258	%

Noninterest income of $2.6 billion increased $1.9 billion both sequentially and from a year ago. Second quarter 2009 results included a $1.8 billion gain from the completion of the processing business joint venture, while first quarter 2009 results included $54 million in charges related to one of our BOLI policies. Excluding these items and investment securities gains/losses in each period, noninterest income of $814 million increased by $39 million or 5 percent from the previous quarter and increased by $82 million or 11 percent from the same period the previous year. Both sequential and year-over-year growth was driven by stronger mortgage banking revenue, payment processing revenue, and deposit service charges.

Electronic payment processing revenue of $243 million increased 9 percent sequentially and increased 4 percent from a year ago. Merchant processing revenue increased 20 percent sequentially and increased 10 percent compared with the previous year. The sequential and year-over-year increases were driven by strong debit card processing revenue, offset by decreased average ticket size on both credit and debit transaction. Card issuer interchange revenue increased 10 percent sequentially and increased 3 percent from the previous year, driven by an increase in credit card transactions tempered by a decline in the average dollar amount per transaction. Financial institutions revenue decreased 2 percent compared with the previous quarter and decreased 3 percent from the second quarter of 2008 on declines in contract cancellation fees partially offset by strong transaction volumes.

Service charges on deposits of $162 million increased 11 percent sequentially and 2 percent compared with the same quarter last year. Retail service charges increased 20 percent from the previous quarter and were flat compared with the second quarter of 2008. The sequential increase was driven by strong growth in net new accounts and transaction activity. Commercial service charges increased 2 percent sequentially and increased 3 percent compared with last year. Year-over-year growth primarily reflected an increase in

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customer accounts and lower market interest rates, as reduced earnings credit rates paid on customer balances have resulted in higher realized net service fees to pay for treasury management services.

Corporate banking revenue of $99 million decreased by $17 million or 15 percent from strong first quarter results, largely due to an $11 million decline in lease termination fees and the effects of stabilization in the macroeconomic environment on customer derivatives activity. Sequential results were driven by lower volume of interest rate derivative sales revenue, foreign exchange revenue and business lending fees, partially offset by growth in institutional sales. On a year-over-year basis, corporate banking revenue decreased by $12 million, or 11 percent, driven by lower volume of interest rate derivative sales revenue and foreign exchange revenue partially offset by growth in institutional sales and business lending fees.

Investment advisory revenue of $73 million was down 4 percent sequentially and 21 percent from the second quarter of 2008. Institutional trust revenue was flat from the previous quarter and down 20 percent from the previous year. The year-over-year decline was largely driven by lower overall market value declines. Mutual fund fees were up 6 percent from the previous quarter, reflecting higher asset valuations due to the better performance of equity markets in the second quarter. Brokerage fees were down 5 percent from the first quarter of 2009, reflecting a decline in transaction-based revenues.

Mortgage banking net revenue was $147 million in the second quarter of 2009, an increase of $13 million from strong first quarter 2009 results and $61 million from the second quarter of 2008. Second quarter of 2009 originations were a record $6.9 billion, up from $4.9 billion the previous quarter, and resulted in gains on mortgages sold of $161 million compared with gains of $131 million during the previous quarter and $79 million during the same period in 2008. Revenue for the second quarter included $1 million of gains on the sale of portfolio loans compared with $3 million in the previous quarter and $9 million in the second quarter of 2008. Net servicing revenue, before mortgage servicing rights (MSR) valuation adjustments, totaled $2 million in the second quarter, compared with $2 million last quarter and $11 million a year ago. MSR valuation adjustments, including mark-to-market related adjustments on free-standing derivatives used to economically hedge the MSR portfolio, represented a net loss of $16 million in the second quarter of 2009, compared with a net gain of $1 million last quarter and a net loss of $4 million a year ago. The mortgage-servicing asset, net of the valuation reserve, was $594 million at quarter end on a servicing portfolio of $43.5 billion.

Net securities gains on non-qualifying hedges on MSRs were $41 million in the second quarter of 2009 compared with net gains of $16 million in the previous quarter and no gain in the second quarter of 2008.

Net gains on investment securities were $5 million in the second quarter of 2009, compared with securities losses of $24 million in the previous quarter and losses of $10 million in the same period the previous year.

Other noninterest income totaled $49 million in the second quarter of 2009 compared with $10 million the previous quarter and $49 million in the second quarter of 2008. Second quarter 2009 results included a $15

8

million write-down on an facility we intend to vacate, while first quarter 2009 results included $54 million in charges associated with a certain BOLI policy. Excluding these items, other noninterest income was flat compared with the previous quarter and increased by $15 million from the same period the previous year. Year-over-year growth was otherwise driven by gains on non-performing assets that were sold, settled, or transferred to OREO, which were $11 million in the second quarter of 2009 and $13 million in the first quarter of 2009.

The results of our joint processing transaction are discussed more fully elsewhere in this release.

Noninterest Expense

	For the Three Months Ended										% Change
	June 2009		March 2009		December 2008		September 2008		June 2008		Seq		Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	346	$	327	$	337	$	321	$	331	6	%	4	%
Employee benefits	$	75	$	83	$	61	$	72	$	60	(10	%)	24	%
Payment processing expense	$	75	$	67	$	70	$	70	$	67	12	%	11	%
Net occupancy expense	$	79	$	79	$	77	$	77	$	73	1	%	8	%
Technology and communications	$	45	$	45	$	48	$	47	$	49	1	%	(7	%)
Equipment expense	$	31	$	31	$	35	$	34	$	31	(2	%)	1	%
Other noninterest expense	$	370	$	330	$	1,394	$	346	$	247	12	%	50	%
Total noninterest expense	$	1,021	$	962	$	2,022	$	967	$	858	6	%	19	%

Noninterest expense of $1.0 billion increased $59 million sequentially and increased $163 million from a year ago. Second quarter of 2009 results included a $55 million FDIC special assessment charge, while first quarter 2009 results included $8 million in severance expense. Excluding these items, expenses increased by $12 million, or 1 percent, driven by higher expenses related to loan collection activities, partially offset by broad-based expense control. Second quarter 2008 results included $13 million in acquisition-related expenses. Excluding the items noted above for the second quarter in 2009 and 2008, expenses increased by $121 million, or 14 percent from the same quarter the previous year, driven by higher credit-related costs as well as the effect of the June 2008 acquisition of First Charter.

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Credit Quality

	For the Three Months Ended
	June 2009			March 2009			December 2008			September 2008			June 2008
Total net losses charged off ($ in millions)
Commercial loans	($	177	)	($	103	)	($	422	)	($	85	)	($	107	)
Commercial mortgage loans		(85	)		(77	)		(465	)		(94	)		(21	)
Commercial construction loans		(79	)		(76	)		(539	)		(88	)		(49	)
Commercial leases		(1	)		—			—			—			—
Residential mortgage loans		(112	)		(75	)		(68	)		(77	)		(63	)
Home equity		(88	)		(72	)		(54	)		(55	)		(54	)
Automobile loans		(36	)		(46	)		(43	)		(32	)		(26	)
Credit card		(45	)		(36	)		(30	)		(24	)		(21	)
Other consumer loans and leases		(3	)		(5	)		(6	)		(8	)		(3	)
Total net losses charged off		(626	)		(490	)		(1,627	)		(463	)		(344	)
Total losses		(658	)		(521	)		(1,652	)		(481	)		(365	)
Total recoveries		32			31			25			18			21
Total net losses charged off	($	626	)	($	490	)	($	1,627	)	($	463	)	($	344	)
Ratios (annualized)
Net losses charged off as a percent of average loans and leases (excluding held for sale)		3.08	%		2.38	%		7.50	%		2.17	%		1.66	%
Commercial		2.81	%		2.08	%		10.70	%		2.07	%		1.41	%
Consumer		3.48	%		2.82	%		2.40	%		2.33	%		2.04	%

Net charge-offs were $626 million in the second quarter of 2009, or 308 bps of average loans on an annualized basis. First quarter net losses were $490 million, or 238 bps of average loans on an annualized basis. Loss experience overall continues to be driven by commercial and residential real estate loans in Michigan and Florida. In aggregate, Florida and Michigan represented approximately 45 percent of total losses during the quarter and 28 percent of total loans and leases.

Commercial net charge-offs were $342 million, or 281 bps, in the second quarter of 2009, an increase of $86 million from the first quarter of 2009. Within the commercial portfolio, C&I losses were $177 million and increased $74 million from the previous quarter. C&I losses included losses on loans to auto dealers of $28 million and losses on loans to companies in real estate-related industries of $38 million. Commercial mortgage net losses totaled $85 million, an increase of $8 million from the previous quarter. Michigan and Florida accounted for 45 percent of commercial mortgage losses. Commercial construction net losses were $79 million, compared with $76 million in the first quarter, with Michigan and Florida accounting for 54 percent of commercial construction losses. Across all commercial portfolios, net losses on residential builder and developer portfolio loans totaled $76 million, compared with $64 million in first quarter. These homebuilder losses included $45 million on commercial construction loans, $25 million on commercial mortgage loans, and $6 million on C&I loans. Originations of homebuilder/developer loans were suspended in 2007 and remaining portfolio balance totals $2.1 billion. Commercial net charge-offs excluding losses in the homebuilder/developer portfolio were $266 million, or 228 bps in the second quarter.

Consumer net charge-offs of $284 million, or 348 bps, were up $50 million from the first quarter of 2009. Michigan and Florida represented 45 percent of second quarter home equity losses and 29 percent of total home equity loans. Net charge-offs within the residential mortgage portfolio were $112 million, an increase of $37 million from the previous quarter, with losses in Michigan and Florida representing 75 percent of losses in

10

the second quarter and approximately 44 percent of total residential mortgage loans. Home equity net charge-offs of $88 million increased $16 million sequentially and growth continued to be driven by losses on brokered home equity loans. Net losses on brokered home equity loans were $39 million, up $9 million sequentially, and represented 44 percent of second quarter home equity losses. Brokered home equity loans represented $2.1 billion, or 17 percent, of the total home equity portfolio with originations being discontinued in 2007. Net charge-offs in the auto portfolio decreased by $10 million from the first quarter of 2009 to $36 million reflecting improved values on used cars sold at auction. Net losses on consumer credit card loans were $45 million, up $9 million from the last quarter, as higher unemployment and weakening economic conditions continue to impact the credit card portfolio.

	For the Three Months Ended
	June 2009			March 2009			December 2008			September 2008			June 2008
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	3,070		$	2,787		$	2,058		$	1,580		$	1,205
Total net losses charged off		(626	)		(490	)		(1,627	)		(463	)		(344	)
Provision for loan and lease losses		1,041			773			2,356			941			719
Allowance for loan and lease losses, ending		3,485			3,070			2,787			2,058			1,580
Reserve for unfunded commitments, beginning		231			195			132			115			103
Provision for unfunded commitments		8			36			63			17			10
Acquisitions		—			—			—			—			2
Reserve for unfunded commitments, ending		239			231			195			132			115
Components of allowance for credit losses:
Allowance for loan and lease losses		3,485			3,070			2,787			2,058			1,580
Reserve for unfunded commitments		239			231			195			132			115
Total allowance for credit losses	$	3,724		$	3,301		$	2,982		$	2,190		$	1,695
Allowance for loan and lease losses ratio
As a percent of loans and leases		4.28	%		3.72	%		3.31	%		2.41	%		1.85	%
As a percent of nonperforming loans and leases (a) (b)		135	%		128	%		157	%		92	%		92	%
As a percent of nonperforming assets (a) (b)		123	%		116	%		139	%		84	%		81	%

(a) Excludes non accrual loans and leases in loans held for sale

(b) During 1Q09 the Bancorp modified its nonaccrual policy to exclude TDR loans less than 90 days past due because they were performing in accordance with restructured terms. For comparability purposes, prior periods were adjusted to reflect this reclassification.

Provision for loan and lease losses totaled $1.0 billion in the second quarter of 2009, exceeding net charge-offs by $415 million. The allowance for loan and lease losses represented 4.28 percent of total loans and leases outstanding as of quarter end, compared with 3.72 percent last quarter, and represented 135 percent of nonperforming loans and leases and 139 percent of annualized second quarter net charge-offs.

11

	As of
	June 2009			March 2009			December 2008			September 2008			June 2008
Nonperforming Assets and Delinquency ($ in millions)
Nonaccrual loans and leases:
Commercial loans	$	603		$	667		$	541		$	550		$	407
Commercial mortgage		760			692			482			724			524
Commercial construction		684			551			362			636			537
Commercial leases		51			27			21			23			18
Residential mortgage		262			265			259			216			142
Home equity		26			25			26			27			35
Automobile		1			2			5			3			7
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual loans and leases	$	2,387		$	2,229		$	1,696		$	2,179		$	1,670
Restructured loans and leases - commercial (non accrual) (a)		12			—			—			—			—
Restructured loans and leases - consumer (non accrual) (a)		188			167			80			50			56
Total nonperforming loans and leases	$	2,587		$	2,396		$	1,776		$	2,229		$	1,726
Repossessed personal property		21			25			24			24			22
Other real estate owned (b)		232			227			206			198			190
Total nonperforming assets (c)	$	2,840		$	2,648		$	2,006		$	2,451		$	1,938
Nonaccrual loans held for sale		352			403			473			—			—
Total nonperforming assets including loans held for sale	$	3,192		$	3,051		$	2,479		$	2,451		$	1,938
Restructured loans and leases (accrual) (a)	$	1,074		$	615			494			377			262
Total loans and leases 90 days past due	$	762		$	733		$	662		$	671		$	608
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		3.17	%		2.89	%		2.11	%		2.60	%		2.01	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		3.48	%		3.20	%		2.38	%		2.86	%		2.26	%

(a) During 1Q09 the Bancorp modified its nonaccrual policy to exclude TDR loans less than 90 days past due because they were performing in accordance with restructured terms. For comparability purposes, prior periods were adjusted to reflect this reclassification.

(b) Excludes government insured advances.

(c) Does not include non accrual loans held-for-sale.

Nonperforming assets (NPAs) at quarter end were $2.8 billion or 3.48 percent of total loans and leases and other real estate owned (OREO), up $192 million from $2.6 billion, or 3.20 percent, last quarter. Including $352 million of nonaccrual loans classified as held-for-sale, total nonperforming assets were $3.2 billion compared with $3.1 billion in the first quarter. Growth in NPAs continues to be largely associated with commercial and residential real estate loans in Michigan and Florida. In aggregate, Florida and Michigan represented approximately 42 percent of NPAs in the loan portfolio.

Commercial NPAs at quarter-end were $2.2 billion, or 4.52 percent, and increased $193 million, or 10 percent, from the first quarter of 2009. C&I portfolio NPAs of $633 million decreased $42 million from the previous quarter. Commercial construction portfolio NPAs were $735 million, an increase of $138 million from the first quarter of 2009. Commercial mortgage NPAs were $791 million, a sequential increase of $72 million. Commercial real estate loans in Michigan and Florida represented 38 percent of our total commercial real estate portfolio in the second quarter 2009 and 43 percent of commercial real estate NPAs. Across the entire commercial loan portfolio, residential real estate builder and developer portfolio NPAs were $613 million in the second quarter, up $59 million from the previous quarter. Of the residential real estate builder and developer portfolio NPAs, $333 million were commercial construction NPAs, $246 million were commercial mortgage NPAs and $34 million were C&I NPAs.

At quarter-end, $352 million of commercial nonaccrual loans were held-for-sale, compared with $403 million at the end of the first quarter, and in the second quarter recorded a net gain of $11 million on $40 million of

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loans that were sold, settled, or transferred to OREO. These loans continue to be carried at the lower of cost or market, currently 26 cents of the original balance.

Consumer NPAs of $628 million, or 1.92 percent, decreased $2 million from the first quarter of 2009. Of consumer NPAs, $548 million were in residential real estate portfolios. Residential mortgage NPAs were $475 million, consistent with the previous quarter, and home equity NPAs decreased $10 million to $73 million. Residential real estate loans in Michigan and Florida represented 62 percent of total residential real estate NPAs and 35 percent of total residential real estate loans. Nonaccrual troubled debt restructurings were $188 million, compared with $167 million last quarter. Excluding TDRs, consumer NPAs declined by $23 million from the previous quarter. Second quarter OREO balances were $232 million compared with OREO balances of $227 million in the first quarter of 2009, and included $115 million in residential mortgage assets, $16 million in home equity assets, and $101 million in commercial real estate assets. Repossessed personal property of $21 million largely consisted of autos.

Loans still accruing over 90 days past due were $762 million, up $29 million from the first quarter of 2009. Commercial 90 days past due balances increased 9 percent from the previous quarter. Consumer 90 days past due balances were unchanged from the previous quarter.

Capital Position

	For the Three Months Ended
	June 2009		March 2009		December 2008		September 2008		June 2008
Capital Position
Average shareholders’ equity to average assets	10.78	%	10.18	%	8.65	%	9.45	%	8.59	%
Tangible equity (a)	9.72	%	7.89	%	7.86	%	6.19	%	6.37	%
Tangible common equity (excluding unrealized gains/losses) (a)	6.55	%	4.23	%	4.23	%	5.23	%	5.40	%
Tangible common equity (including unrealized gains/losses) (a)	6.67	%	4.35	%	4.31	%	5.19	%	5.28	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (a) (b)	6.96	%	4.51	%	4.39	%	5.19	%	5.21	%
Regulatory capital ratios: (c)
Tier I capital	12.90	%	10.93	%	10.59	%	8.57	%	8.51	%
Total risk-based capital	16.96	%	15.13	%	14.78	%	12.30	%	12.15	%
Tier I leverage	12.17	%	10.29	%	10.27	%	8.77	%	9.08	%
Tier I common equity	7.00	%	4.50	%	4.37	%	5.18	%	5.18	%
Book value per share	12.71		13.61		13.57		16.65		16.75
Tangible book value per share (a)	9.51		8.79		8.74		10.10		10.16

(a) The tangible equity ratio, tangible common equity ratios and tangible book value per share ratio, while not required by accounting principles generally accepted in the United States of America (GAAP), are considered to be critical metrics with which to analyze banks. The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. See the Regulation G Non-GAAP Reconciliation table for a reconciliation of these ratios to GAAP.

(b) Under the banking agencies risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk weight of the category. The resulting weighted values are added together resulting in the Bancorp’s total risk weighted assets.

(c) Current period regulatory capital data ratios are estimated.

The Tier 1 common equity ratio increased 250 bps from the previous quarter to 7.0 percent, and the tangible common equity to risk weighted assets ratio increased 245 bps from the previous quarter to 7.0 percent. The

13

Tier 1 capital ratio increased 197 bps to 12.9 percent, and the total capital ratio increased 183 bps to 17.0 percent. The increase in capital ratios was related to the benefit of the closing of the processing business joint venture with Advent International, the $1.0 billion “at the market” common equity offering, and the net effect of the exchange of common shares and cash for outstanding preferred stock. These transactions are described more fully below.

Additionally, as described below, subsequent to the end of the second quarter, Fifth Third sold Visa, Inc. class B common shares in a transaction that resulted in a net benefit of $206 million. On a pro forma basis, this gain is expected to increase our capital ratios by approximately 19 bps.

Book value per share at June 30, 2009 was $12.71 and tangible book value per share was $9.51, compared with March 31, 2009 book value per share of $13.62 and tangible book value per share of $8.79. The Visa transaction would increase both measures by approximately $0.26 on a pro forma basis.

Other Matters

During the second quarter of 2009, Fifth Third completed an “at the market” $1.0 billion common equity offering in which Fifth Third issued 157,995,960 shares at an average price of $6.33 per share.

In a tender offer that expired June 17, 2009, Fifth Third offered to exchange shares of its common stock and cash for any and all of its outstanding Depository Shares each representing a 1/250^th interest in a share of 8.50 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series G. A total of 6,962,250 Depository Shares were validly tendered, and overall, $696,225,000 liquidation amount of Fifth Third’s Depository Shares were exchanged, which represented 62.86 percent of the aggregate liquidation amount of its Depository Shares. The transaction resulted in the issuance of approximately 60,121,124 shares of common stock and payment of $229,754,622 in cash, including payment in lieu of fractional shares. Net income available to common shareholders included a $35 million benefit, recorded as a reduction to preferred dividend expense, reflecting the carrying value of preferred shares relative to the fair value of the common shares and cash exchanged through our tender offer for Series G preferred stock. The benefit of this reduction in preferred dividend expense is not included in earnings per diluted share under the “if converted” method (discussed further below) utilized for determining earnings per diluted share in the second quarter.

On June 30, 2009, Fifth Third and Advent International announced the closing of their joint venture transaction for Fifth Third’s processing business. Advent International purchased an approximate 51 percent interest in Fifth Third’s merchant acquiring and financial institutions businesses, most of the assets and operations of which are held by a limited liability company (“the LLC”). The transaction was valued at approximately $2.35 billion before valuation adjustments by either party. Fifth Third retains an approximate 49 percent interest in the LLC, and will also retain its credit card issuing business, which includes retail credit card and commercial multi-card services. Fifth Third recognized a pre-tax gain of approximately $1.8 billion ($1.1 billion after-tax) on the transaction.

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Common shares outstanding increased during the quarter, reflecting the effect of shares issued during the quarter through the “at-the-market” common share offering as well as the common shares issued in the preferred stock exchange. Average basic common shares outstanding of 630 million increased 58 million shares from the first quarter of 2009. This reflected the average effect of the common shares issued – 47 million from the common share issuance and 9 million from the exchange. Period end common shares of 795 million increased 218 million shares – 158 million shares in the common share offering and 60 million shares issued in the preferred stock exchange - from the first quarter of 2009.

Average diluted common shares of 718 million shares increased 146 million shares from the first quarter of 2009. The increase included the 58 million shares reflected in our basic common shares. The reporting of results under the “if converted” method resulted in a further increase in our diluted share count for the quarter of 87 million shares, of which 51 million represented the average effect prior to the exchange of common shares underlying Series G preferred shares that were exchanged. The remaining 8 million shares underlying the Series G Preferred were included in our average basic share count. In the future, these 51 million shares will be reflected in average basic and diluted shares on a full quarter basis. The remaining 36 million common shares included in this quarter’s average diluted share count continue to underlie unexchanged Series G preferred shares. In previous quarters, these shares were excluded from the diluted EPS calculation, as their impact would have been anti-dilutive to EPS.

Subsequent to the end of the second quarter of 2009, Fifth Third sold its Visa, Inc. class B common shares for a pre-tax benefit of $317 million or an after-tax benefit of $206 million, which will be recognized in the third quarter of 2009. These shares were carried on our books at a value of zero. As a result, the transaction will benefit the Tier 1 Common capital ratio on a pro forma basis by approximately 19 basis points.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live by Thomson Financial and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Fifth Third” then “Investor Relations”). The webcast also is being distributed over Thomson Financial’s Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through Thomson Financial’s individual investor center at www.earnings.com or by visiting any of the investor sites in Thomson Financial’s Individual Investor Network. Institutional investors can access the call via Thomson Financial’s password-protected event management site, StreetEvents (www.streetevents.com).

Those unable to listen to the live webcast may access a webcast replay or podcast through the Fifth Third Investor Relations website at the same web address. Additionally, a telephone replay of the conference call will be available beginning approximately two hours after the conference call until Thursday, August 6^th by dialing 800-642-1687 for domestic access and 706-645-9291 for international access (passcode 17561949#).

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Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2009, the Company has $116 billion in assets, operates 16 affiliates with 1,306 full-service Banking Centers, including 99 Bank Mart^® locations open seven days a week inside select grocery stores and 2,355 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2009, has $180 billion in assets under care, of which it managed $24 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ^® National Global Select Market under the symbol “FITB.”

Forward-Looking Statements

This news release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K and our most recent quarterly report on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) general economic conditions and weakening in the economy, specifically the real estate market, either nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of funding and liquidity; (7) maintaining capital requirements may limit Fifth Third’s operations and potential growth; (8) changes and trends in capital markets; (9) problems encountered by larger or similar financial institutions may adversely affect the banking industry and/or Fifth Third (10) competitive pressures among depository institutions increase significantly; (11) effects of critical accounting policies and judgments; (12) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (13) legislative or regulatory changes or actions, or significant litigation, adversely affect Fifth Third, one or more acquired entities and/or the combined company or the businesses in which Fifth Third, one or more acquired entities and/or the combined company are engaged; (14) ability to maintain favorable ratings from rating agencies; (15) fluctuation of Fifth Third’s stock price; (16) ability to attract and retain key personnel; (17) ability to receive dividends from its subsidiaries; (18) potentially dilutive effect of future acquisitions on current shareholders’ ownership of Fifth Third; (19) effects of accounting or financial results of one or more acquired entities; (20) lower than expected gains related to any sale or potential sale of businesses; (21) difficulties in separating Fifth Third Processing Solutions from Fifth Third; (22) loss of income from any sale or potential sale of businesses that could have an adverse effect on Fifth Third’s earnings and future growth;(23) ability to secure confidential information through the use of computer systems and telecommunications networks; and (24) the impact of reputational risk created by these developments on such matters as business generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements.

# # #

16

Quarterly Financial Review for June 30, 2009

Table of Contents

Financial Highlights	18-19
Consolidated Statements of Income	20
Consolidated Statements of Income (Taxable Equivalent)	21
Consolidated Balance Sheets	22-23
Consolidated Statements of Changes in Shareholders’ Equity	24
Average Balance Sheet and Yield Analysis	25-27
Summary of Loans and Leases	28
Regulatory Capital	29
Summary of Credit Loss Experience	30
Asset Quality	31
Regulation G Non-GAAP Reconciliation	32
Segment Presentation	33

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Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended									% Change				Year to Date						% Change
	June 2009			March 2009			June 2008			Seq		Yr/Yr		June 2009			June 2008			Yr/Yr
Income Statement Data
Net interest income (a)	$	836		$	781		$	744		7	%	12	%	$	1,617		$	1,570		3	%
Noninterest income		2,583			697			722		271	%	258	%		3,280			1,587		107	%
Total revenue (a)		3,419			1,478			1,466		131	%	133	%		4,897			3,157		55	%
Provision for loan and lease losses		1,041			773			719		35	%	45	%		1,814			1,263		44	%
Noninterest expense		1,021			962			858		6	%	19	%		1,984			1,576		26	%
Net income (loss)		882			50			(202	)	1,666	%	NM			932			84		1,006	%
Net income (loss) available to common shareholders		856			(26	)		(202	)	NM		NM			829			84		888	%
Common Share Data
Earnings per share, basic	$	1.35		($	0.04	)	($	0.37	)	NM		NM		$	1.37		$	0.16		756	%
Earnings per share, diluted		1.15			(0.04	)		(0.37	)	NM		NM			1.18			0.16		638	%
Cash dividends per common share		0.01			0.01			0.15		—		(93	%)		0.02			0.59		(97	%)
Book value per share		12.71			13.61			16.75		(7	%)	(24	%)		12.71			16.75		(24	%)
Market price per share		7.10			2.92			10.18		143	%	(30	%)		7.10			10.18		(30	%)
Common shares outstanding (in thousands)		795,313			576,936			577,530		38	%	38	%		795,313			577,530		38	%
Average common shares outstanding (in thousands):
Basic		629,789			571,810			540,030		10	%	17	%		600,960			534,264		12	%
Diluted		718,245			571,810			540,030		26	%	33	%		693,590			542,722		28	%
Market capitalization	$	5,647		$	1,685		$	5,879		235	%	(4	%)	$	5,647		$	5,879		(4	%)
Financial Ratios
Return on assets		3.05	%		0.17	%		(0.72	%)	1,694	%	NM			1.60	%		0.15	%	967	%
Return on average common equity		41.2	%		(1.4	%)		(8.5	%)	NM		NM			20.7	%		1.8	%	1,050	%
Noninterest income as a percent of total revenue		76	%		47	%		49	%	62	%	55	%		67	%		50	%	34	%
Average equity as a percent of average assets		10.78	%		10.18	%		8.59	%	6	%	25	%		10.48	%		8.51	%	23	%
Tangible equity (b) (d)		9.72	%		7.89	%		6.37	%	23	%	53	%		9.72	%		6.37	%	53	%
Tangible common equity (c) (d)		6.55	%		4.23	%		5.40	%	55	%	21	%		6.55	%		5.40	%	21	%
Net interest margin (a)		3.26	%		3.06	%		3.04	%	7	%	7	%		3.16	%		3.22	%	(2	%)
Efficiency (a)		29.9	%		65.1	%		58.6	%	(54	%)	(49	%)		40.5	%		49.9	%	(19	%)
Effective tax rate		34.7	%		(119.0	%)		(72.4	%)	NM		NM			14.5	%		72.6	%	(80	%)
Credit Quality
Net losses charged off	$	626		$	490		$	344		28	%	82	%	$	1,116		$	620		80	%
Net losses charged off as a percent of average loans and leases		3.08	%		2.38	%		1.66	%	29	%	86	%		2.73	%		1.52	%	80	%
Allowance for loan and lease losses as a percent of loans and leases		4.28	%		3.72	%		1.85	%	15	%	131	%		4.28	%		1.85	%	131	%
Allowance for credit losses as a percent of loans and leases		4.57	%		4.00	%		1.98	%	14	%	131	%		4.57	%		1.98	%	131	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		3.48	%		3.20	%		2.26	%	9	%	54	%		3.48	%		2.26	%	54	%
Average Balances
Loans and leases, including held for sale	$	84,996		$	85,829		$	85,212		(1	%)	—		$	85,410		$	85,062		—
Total securities and other short-term investments		17,762			17,835			13,363		—		33	%		17,798			12,980		37	%
Total assets		115,878			118,681			112,098		(2	%)	3	%		117,272			111,694		5	%
Transaction deposits (f)		54,115			52,347			53,763		3	%	1	%		53,236			53,610		(1	%)
Core deposits (g)		68,727			66,848			63,280		3	%	9	%		67,793			63,811		6	%
Wholesale funding (h)		31,369			34,902			35,160		(10	%)	(11	%)		33,126			34,189		(3	%)
Shareholders’ equity		12,490			12,084			9,629		3	%	30	%		12,288			9,504		29	%
Regulatory Capital Ratios (i)
Tier I capital		12.90	%		10.93	%		8.51	%	18	%	52	%		12.90	%		8.51	%	52	%
Total risk-based capital		16.96	%		15.13	%		12.15	%	12	%	40	%		16.96	%		12.15	%	40	%
Tier I leverage		12.17	%		10.29	%		9.08	%	18	%	34	%		12.17	%		9.08	%	34	%
Tier I common equity		7.00	%		4.50	%		5.18	%	56	%	35	%		7.00	%		5.18	%	35	%
Operations
Banking centers		1,306			1,311			1,308		—		—			1,306			1,308		—
ATMs		2,355			2,354			2,329		—		1	%		2,355			2,329		1	%
Full-time equivalent employees		20,702			20,618			21,617		—		(4	%)		20,702			21,617		(4	%)

(a) Presented on a fully taxable equivalent basis

(b) The tangible equity ratio is calculated as tangible equity (shareholders’ equity less goodwill, intangible assets and accumulated other comprehensive income) divided by tangible assets (total assets less goodwill, intangible assets and tax effected accumulated other comprehensive income.)

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill intangible assets and accumulated other comprehensive income) divided by tangible assets (defined above.)

(d) The tangible equity and tangible common equity ratios, while not required by GAAP, are considered to be critical metrics with which to analyze banks. The ratios have been included herein to facilitate a grater understanding of the Bancorp’s capital structure and financial condition.

(e) Excludes nonaccrual loans held for sale

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers

(g) Includes transaction deposits plus other time deposits

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, short-term borrowings and long-term debt

(i) Current period regulatory capital ratios are estimates

18

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	June 2009			March 2009			December 2008			September 2008			June 2008
Income Statement Data
Net interest income (a)	$	836		$	781		$	897		$	1,068		$	744
Noninterest income		2,583			697			642			717			722
Total revenue (a)		3,419			1,478			1,539			1,785			1,466
Provision for loan and lease losses		1,041			773			2,356			941			719
Noninterest expense		1,021			962			2,022			967			858
Net income (loss)		882			50			(2,142	)		(56	)		(202	)
Net income (loss) available to common shareholders		856			(26	)		(2,184	)		(81	)		(202	)
Common Share Data
Earnings per share, basic	$	1.35		($	0.04	)	($	3.78	)	($	0.14	)	($	0.37	)
Earnings per share, diluted		1.15			(0.04	)		(3.78	)		(0.14	)		(0.37	)
Cash dividends per common share		0.01			0.01			0.01			0.15			0.15
Book value per share		12.71			13.61			13.57			16.65			16.75
Market price per share		7.10			2.92			8.26			11.90			10.18
Common shares outstanding (in thousands)		795,313			576,936			577,387			577,487			577,530
Average common shares outstanding (in thousands):
Basic		629,789			571,810			571,809			571,705			540,030
Diluted		718,245			571,810			571,809			571,705			540,030
Market capitalization	$	5,647		$	1,685		$	4,769		$	6,872		$	5,879
Financial Ratios
Return on assets		3.05	%		0.17	%		(7.16	%)		(0.19	%)		(0.72	%)
Return on average common equity		41.2	%		(1.4	%)		(94.6	%)		(3.3	%)		(8.5	%)
Noninterest income as a percent of total revenue		76	%		47	%		42	%		40	%		49	%
Average equity as a percent of average assets		10.78	%		10.18	%		8.65	%		9.45	%		8.59	%
Tangible equity (b) (d)		9.72	%		7.89	%		7.86	%		6.19	%		6.37	%
Tangible common equity (c) (d)		6.55	%		4.23	%		4.23	%		5.23	%		5.40	%
Net interest margin (a)		3.26	%		3.06	%		3.46	%		4.24	%		3.04	%
Efficiency (a)		29.9	%		65.1	%		131.3	%		54.2	%		58.6	%
Effective tax rate		34.7	%		(119.0	%)		(24.7	%)		56.6	%		(72.4	%)
Credit Quality
Net losses charged off	$	626		$	490		$	1,627		$	463		$	344
Net losses charged off as a percent of average loans and leases		3.08	%		2.38	%		7.50	%		2.17	%		1.66	%
Allowance for loan and lease losses as a percent of loans and leases		4.28	%		3.72	%		3.31	%		2.41	%		1.85	%
Allowance for credit losses as a percent of loans and leases		4.57	%		4.00	%		3.54	%		2.56	%		1.98	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		3.48	%		3.20	%		2.38	%		2.86	%		2.26	%
Average Balances
Loans and leases, including held for sale	$	84,996		$	85,829		$	87,426		$	85,772		$	85,212
Total securities and other short-term investments		17,762			17,835			15,683			14,515			13,363
Total assets		115,878			118,681			118,953			114,784			112,098
Transaction deposits (f)		54,115			52,347			51,119			52,399			53,763
Core deposits (g)		68,727			66,848			64,456			63,179			63,280
Wholesale funding (h)		31,369			34,902			39,586			37,036			35,160
Shareholders’ equity		12,490			12,084			10,291			10,843			9,629
Regulatory Capital Ratios (i)
Tier I capital		12.90	%		10.93	%		10.59	%		8.57	%		8.51	%
Total risk-based capital		16.96	%		15.13	%		14.78	%		12.30	%		12.15	%
Tier I leverage		12.17	%		10.29	%		10.27	%		8.77	%		9.08	%
Tier I common equity		7.00	%		4.50	%		4.37	%		5.18	%		5.18	%
Operations
Banking centers		1,306			1,311			1,307			1,298			1,308
ATMs		2,355			2,354			2,341			2,329			2,329
Full-time equivalent employees		20,702			20,618			21,476			21,522			21,617

(a) Presented on a fully taxable equivalent basis

(b) The tangible equity ratio is calculated as tangible equity (shareholders’ equity less goodwill, intangible assets and accumulated other comprehensive income) divided by tangible assets (total assets less goodwill, intangible assets and tax effected accumulated other comprehensive income.)

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill intangible assets and accumulated other comprehensive income) divided by tangible assets (defined above.)

(d) The tangible equity and tangible common equity ratios, while not required by GAAP, are considered to be critical metrics with which to analyze banks. The ratios have been included herein to facilitate a grater understanding of the Bancorp’s capital structure and financial condition.

(e) Excludes nonaccrual loans held for sale

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers

(g) Includes transaction deposits plus other time deposits

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, short-term borrowings and long-term debt

(i) Current period regulatory capital ratios are estimates

19

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended									% Change				Year to Date					% Change
	June 2009			March 2009			June 2008			Seq		Yr/Yr		June 2009			June 2008		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	995		$	997		$	1,050		—		(5	%)	$	1,992		$	2,340	(15	%)
Interest on securities		184			180			155		3	%	19	%		364			307	18	%
Interest on other short-term investments		0			1			2		(54	%)	(88	%)		1			7	(88	%)
Total interest income		1,179			1,178			1,207		—		(2	%)		2,357			2,654	(11	%)
Interest Expense
Interest on deposits		258			274			278		(6	%)	(7	%)		532			677	(21	%)
Interest on short-term borrowings		12			24			49		(49	%)	(75	%)		37			129	(72	%)
Interest on long-term debt		78			104			142		(25	%)	(45	%)		181			289	(38	%)
Total interest expense		348			402			469		(13	%)	(26	%)		750			1,095	(32	%)
Net Interest Income		831			776			738		7	%	13	%		1,607			1,559	3	%
Provision for loan and lease losses		1,041			773			719		35	%	45	%		1,814			1,263	44	%
Net interest income (loss) after provision for loan and lease losses		(210	)		3			19		NM		NM			(207	)		296	NM
Noninterest Income
Electronic payment processing revenue		243			223			235		9	%	4	%		466			447	4	%
Service charges on deposits		162			146			159		11	%	2	%		308			307	—
Investment advisory revenue		73			76			92		(4	%)	(21	%)		149			185	(19	%)
Corporate banking revenue		99			116			111		(15	%)	(11	%)		215			218	(2	%)
Mortgage banking net revenue		147			134			86		10	%	72	%		281			182	54	%
Gain on sale of FTPS joint venture		1,764			—			—		NM		NM			1,764			—	NM
Other noninterest income		49			10			49		380	%	(1	%)		60			228	(74	%)
Securities gains (losses), net		5			(24	)		(10	)	NM		NM			(20	)		17	NM
Securities gains, net - non-qualifying hedges on mortgage servicing rights		41			16			—		157	%	NM			57			3	2,162	%
Total noninterest income		2,583			697			722		271	%	258	%		3,280			1,587	107	%
Noninterest Expense
Salaries, wages and incentives		346			327			331		6	%	4	%		673			679	(1	%)
Employee benefits		75			83			60		(10	%)	24	%		158			145	9	%
Payment processing expense		75			67			67		12	%	11	%		141			133	6	%
Net occupancy expense		79			79			73		1	%	8	%		158			145	8	%
Technology and communications		45			45			49		1	%	(7	%)		90			96	(6	%)
Equipment expense		31			31			31		(2	%)	1	%		62			61	2	%
Other noninterest expense		370			330			247		12	%	50	%		702			317	121	%
Total noninterest expense		1,021			962			858		6	%	19	%		1,984			1,576	26	%
Income (loss) before income taxes		1,352			(262	)		(117	)	NM		NM			1,089			307	254	%
Applicable income taxes		470			(312	)		85		NM		453	%		157			223	(30	%)
Net income (loss)		882			50			(202	)	1,666	%	NM			932			84	1,006	%
Dividends on preferred stock		26			76			—		(66	%)	NM			103			—	NM
Net income (loss) available to common shareholders	$	856		($	26	)	($	202	)	NM		NM		$	829		$	84	888	%

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	June 2009			March 2009			December 2008			September 2008			June 2008
Interest Income
Interest and fees on loans and leases	$	995		$	997		$	1,218		$	1,378		$	1,050
Interest on securities		184			180			187			165			155
Interest on other short-term investments		0			1			1			5			2
Total interest income		1,179			1,178			1,406			1,548			1,207
Taxable equivalent adjustment		5			5			5			5			6
Total interest income (taxable equivalent)		1,184			1,183			1,411			1,553			1,213
Interest Expense
Interest on deposits		258			274			322			291			278
Interest on short-term borrowings		12			24			55			64			49
Interest on long-term debt		78			104			137			130			142
Total interest expense		348			402			514			485			469
Net interest income (taxable equivalent)		836			781			897			1,068			744
Provision for loan and lease losses		1,041			773			2,356			941			719
Net interest income (loss) (taxable equivalent) after provision for loan and lease losses		(205	)		8			(1,459	)		127			25
Noninterest Income
Electronic payment processing revenue		243			223			230			235			235
Service charges on deposits		162			146			162			172			159
Investment advisory revenue		73			76			78			90			92
Corporate banking revenue		99			116			121			104			111
Mortgage banking net revenue		147			134			(29	)		45			86
Gain on sale of FTPS joint venture		1,764			—			—			—			—
Other noninterest income		49			10			24			112			49
Securities gains (losses), net		5			(24	)		(40	)		(63	)		(10	)
Securities gains, net—non-qualifying hedges on mortgage servicing rights		41			16			96			22			—
Total noninterest income		2,583			697			642			717			722
Noninterest Expense
Salaries, wages and incentives		346			327			337			321			331
Employee benefits		75			83			61			72			60
Payment processing expense		75			67			70			70			67
Net occupancy expense		79			79			77			77			73
Technology and communications		45			45			48			47			49
Equipment expense		31			31			35			34			31
Other noninterest expense		370			330			1,394			346			247
Total noninterest expense		1,021			962			2,022			967			858
Income (loss) before income taxes (taxable equivalent)		1,357			(257	)		(2,839	)		(123	)		(111	)
Taxable equivalent adjustment		5			5			5			5			6
Income (loss) before income taxes		1,352			(262	)		(2,844	)		(128	)		(117	)
Applicable income taxes		470			(312	)		(702	)		(72	)		85
Net income (loss)		882			50			(2,142	)		(56	)		(202	)
Dividends on preferred stock		26			76			42			25			—
Net income (loss) available to common shareholders	$	856		($	26	)	($	2,184	)	($	81	)	($	202	)

21

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of									% Change
	June 2009			March 2009			June 2008			Seq		Yr/Yr
Assets
Cash and due from banks	$	2,899		$	2,491		$	2,853		16	%	2	%
Available-for-sale and other securities (a)		16,061			16,916			12,718		(5	%)	26	%
Held-to-maturity securities (b)		357			358			361		—		(1	%)
Trading securities		1,354			1,407			241		(4	%)	461	%
Other short-term investments		513			1,587			286		(68	%)	79	%
Loans held for sale		3,341			2,602			889		28	%	276	%
Portfolio loans and leases:
Commercial loans		28,409			28,617			28,958		(1	%)	(2	%)
Commercial mortgage loans		12,407			12,560			13,394		(1	%)	(7	%)
Commercial construction loans		4,491			4,745			6,007		(5	%)	(25	%)
Commercial leases		3,532			3,521			3,647		—		(3	%)
Residential mortgage loans		8,489			8,875			9,866		(4	%)	(14	%)
Home equity		12,511			12,710			12,421		(2	%)	1	%
Automobile loans		8,741			8,688			8,362		1	%	5	%
Credit card		1,914			1,816			1,717		5	%	12	%
Other consumer loans and leases		935			1,037			1,152		(10	%)	(19	%)
Portfolio loans and leases		81,429			82,569			85,524		(1	%)	(5	%)
Allowance for loan and lease losses		(3,485	)		(3,070	)		(1,580	)	13	%	121	%
Portfolio loans and leases, net		77,944			79,499			83,944		(2	%)	(7	%)
Bank premises and equipment		2,440			2,490			2,444		(2	%)	—
Operating lease equipment		474			470			364		1	%	30	%
Goodwill		2,417			2,623			3,603		(8	%)	(33	%)
Intangible assets		133			154			203		(14	%)	(35	%)
Servicing rights		595			481			701		24	%	(15	%)
Other assets		7,456			8,235			6,368		(9	%)	17	%
Total assets	$	115,984		$	119,313		$	114,975		(3	%)	1	%
Liabilities
Deposits:
Demand	$	17,202		$	16,370		$	16,259		5	%	6	%
Interest checking		14,630			14,510			14,002		1	%	4	%
Savings		16,819			16,517			16,602		2	%	1	%
Money market		4,193			4,353			6,806		(4	%)	(38	%)
Foreign office		2,244			1,671			2,174		34	%	3	%
Other time		14,540			14,571			9,839		—		48	%
Certificates - $100,000 and over		10,688			11,784			10,870		(9	%)	(2	%)
Other		504			6			864		8,237	%	(42	%)
Total deposits		80,820			79,782			77,416		1	%	4	%
Federal funds purchased		435			363			2,447		20	%	(82	%)
Other short-term borrowings		6,802			11,076			5,628		(39	%)	21	%
Accrued taxes, interest and expenses		959			904			1,864		6	%	(49	%)
Other liabilities		3,166			2,908			1,820		9	%	74	%
Long-term debt		10,102			12,178			15,046		(17	%)	(33	%)
Total liabilities		102,284			107,211			104,221		(5	%)	(2	%)
Shareholders’ equity
Common stock		1,779			1,295			1,295		37	%	37	%
Preferred stock		3,588			4,252			1,082		(16	%)	232	%
Capital surplus		1,722			841			582		105	%	196	%
Retained earnings		6,663			5,792			8,179		15	%	(19	%)
Accumulated other comprehensive income (loss)		152			151			(152	)	1	%	NM
Treasury stock		(204	)		(229	)		(232	)	(11	%)	(12	%)
Total shareholders’ equity (c)		13,700			12,102			10,754		13	%	27	%
Total liabilities and shareholders’ equity	$	115,984		$	119,313		$	114,975		(3	%)	1	%
(a)    Amortized cost	$	15,820		$	16,642		$	12,935		(5	%)	22	%
(b)    Market values		357			358			361		—		(1	%)
(c)    Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000		—		—
Outstanding, excluding treasury		795,313			576,936			577,530		38	%	38	%
Treasury		6,191			6,491			5,897		(5	%)	5	%

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	June 2009			March 2009			December 2008			September 2008			June 2008
Assets
Cash and due from banks	$	2,899		$	2,491		$	2,739		$	2,774		$	2,853
Available-for-sale and other securities (a)		16,061			16,916			12,728			13,177			12,718
Held-to-maturity securities (b)		357			358			360			360			361
Trading securities		1,354			1,407			1,191			915			241
Other short-term investments		513			1,587			3,578			229			286
Loans held for sale		3,341			2,602			1,452			1,000			889
Portfolio loans and leases:
Commercial loans		28,409			28,617			29,197			29,424			28,958
Commercial mortgage loans		12,407			12,560			12,502			13,355			13,394
Commercial construction loans		4,491			4,745			5,114			6,002			6,007
Commercial leases		3,532			3,521			3,666			3,642			3,647
Residential mortgage loans		8,489			8,875			9,385			9,351			9,866
Home equity		12,511			12,710			12,752			12,599			12,421
Automobile loans		8,741			8,688			8,594			8,306			8,362
Credit card		1,914			1,816			1,811			1,688			1,717
Other consumer loans and leases		935			1,037			1,122			1,131			1,152
Portfolio loans and leases		81,429			82,569			84,143			85,498			85,524
Allowance for loan and lease losses		(3,485	)		(3,070	)		(2,787	)		(2,058	)		(1,580	)
Portfolio loans and leases, net		77,944			79,499			81,356			83,440			83,944
Bank premises and equipment		2,440			2,490			2,494			2,470			2,444
Operating lease equipment		474			470			463			369			364
Goodwill		2,417			2,623			2,624			3,592			3,603
Intangible assets		133			154			168			188			203
Servicing rights		595			481			499			687			701
Other assets		7,456			8,235			10,112			7,093			6,368
Total assets	$	115,984		$	119,313		$	119,764		$	116,294		$	114,975
Liabilities
Deposits:
Demand	$	17,202		$	16,370		$	15,287		$	14,241		$	16,259
Interest checking		14,630			14,510			14,222			13,251			14,002
Savings		16,819			16,517			16,063			15,955			16,602
Money market		4,193			4,353			4,689			5,352			6,806
Foreign office		2,244			1,671			2,144			1,999			2,174
Other time		14,540			14,571			14,350			11,778			9,839
Certificates - $100,000 and over		10,688			11,784			11,851			13,173			10,870
Other		504			6			7			1,711			864
Total deposits		80,820			79,782			78,613			77,460			77,416
Federal funds purchased		435			363			287			2,521			2,447
Other short-term borrowings		6,802			11,076			9,959			8,791			5,628
Accrued taxes, interest and expenses		959			904			2,029			1,757			1,864
Other liabilities		3,166			2,908			3,214			2,122			1,820
Long-term debt		10,102			12,178			13,585			12,947			15,046
Total liabilities		102,284			107,211			107,687			105,598			104,221
Shareholders’ equity
Common stock		1,779			1,295			1,295			1,295			1,295
Preferred stock		3,588			4,252			4,241			1,082			1,082
Capital surplus		1,722			841			848			597			582
Retained earnings		6,663			5,792			5,824			8,013			8,179
Accumulated other comprehensive income (loss)		152			151			98			(60	)		(152	)
Treasury stock		(204	)		(229	)		(229	)		(231	)		(232	)
Total shareholders’ equity (c)		13,700			12,102			12,077			10,696			10,754
Total liabilities and shareholders’ equity	$	115,984		$	119,313		$	119,764		$	116,294		$	114,975
(a)    Amortized cost	$	15,820		$	16,642		$	12,550		$	13,249		$	12,935
(b)    Market values		357			358			360			360			361
(c)    Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000			2,000,000			2,000,000
Outstanding, excluding treasury		795,313			576,936			577,387			577,487			577,530
Treasury		6,191			6,491			6,040			5,941			5,897

23

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Shareholders’ Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	June 2009			June 2008			June 2009			June 2008
Total shareholders’ equity, beginning	$	12,102		$	9,352		$	12,077		$	9,161
Net income (loss)		882			(202	)		932			84
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		(21	)		(134	)		42			(38	)
Qualifying cash flow hedges		19			(30	)		7			9
Change in accumulated other comprehensive income related to employee benefit plans		3			1			5			3
Comprehensive income		883			(365	)		986			58
Cash dividends declared:
Common stock		(8	)		(87	)		(13	)		(321	)
Preferred stock		(16	)		—			(82	)		—
Issuance of common stock		986			—			986			—
Issuance of preferred stock, Series G		—			1,072			—			1,072
Redemption of preferred stock, Series G		(269	)		—			(269	)		—
Stock-based awards exercised, including treasury shares issued		1			(2	)		1			—
Stock-based compensation expense		12			15			23			28
Loans repaid (issued) related to exercise of stock-based awards, net		—			4			—			2
Change in corporate tax benefit related to stock-based compensation		(12	)		(5	)		(30	)		(15	)
Shares issued in an acquisition		—			770			—			770
Shares issued from treasury		—			—			—			—
OTTI reclassification		24			—			24			—
Other		(3	)		—			(3	)		(1	)
Total shareholders’ equity, ending	$	13,700		$	10,754		$	13,700		$	10,754

24

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended									% Change
	June 2009			March 2009			June 2008			Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial loans	$	28,038		$	28,968		$	28,557		(3	%)	(2	%)
Commercial mortgage loans		12,668			12,809			12,590		(1	%)	1	%
Commercial construction loans		4,842			5,115			5,700		(5	%)	(15	%)
Commercial leases		3,512			3,564			3,747		(1	%)	(6	%)
Residential mortgage loans		11,669			10,921			11,244		7	%	4	%
Home equity		12,636			12,763			12,012		(1	%)	5	%
Automobile loans		8,692			8,687			8,439		—		3	%
Credit card		1,863			1,825			1,703		2	%	9	%
Other consumer loans and leases		1,076			1,177			1,220		(9	%)	(12	%)
Taxable securities		16,778			16,283			12,554		3	%	34	%
Tax exempt securities		242			262			364		(7	%)	(33	%)
Other short-term investments		742			1,290			445		(42	%)	67	%
Total interest-earning assets		102,758			103,664			98,575		(1	%)	4	%
Cash and due from banks		2,350			2,438			2,357		(4	%)	—
Other assets		13,907			15,363			12,370		(9	%)	12	%
Allowance for loan and lease losses		(3,137	)		(2,784	)		(1,204	)	13	%	161	%
Total assets	$	115,878		$	118,681		$	112,098		(2	%)	3	%
Liabilities
Interest-bearing liabilities:
Interest checking	$	14,837		$	14,229		$	14,396		4	%	3	%
Savings		16,705			16,272			16,583		3	%	1	%
Money market		4,167			4,559			6,592		(9	%)	(37	%)
Foreign office		1,717			1,755			2,169		(2	%)	(21	%)
Other time		14,612			14,501			9,517		1	%	54	%
Certificates - $100,000 and over		11,455			11,802			8,143		(3	%)	41	%
Other		240			247			2,948		(3	%)	(92	%)
Federal funds purchased		542			701			3,643		(23	%)	(85	%)
Other short-term borrowings		8,002			9,621			5,623		(17	%)	42	%
Long-term debt		11,130			12,531			14,803		(11	%)	(25	%)
Total interest-bearing liabilities		83,407			86,218			84,417		(3	%)	(1	%)
Demand deposits		16,689			15,532			14,023		7	%	19	%
Other liabilities		3,292			4,847			4,029		(32	%)	(18	%)
Total liabilities		103,388			106,597			102,469		(3	%)	1	%
Shareholders’ equity		12,490			12,084			9,629		3	%	30	%
Total liabilities and shareholders’ equity	$	115,878		$	118,681		$	112,098		(2	%)	3	%
Yield Analysis
Interest-earning assets:
Commercial loans		4.06	%		4.00	%		5.04	%
Commercial mortgage loans		4.44	%		4.56	%		5.93	%
Commercial construction loans		2.80	%		3.35	%		5.44	%
Commercial leases		4.66	%		3.12	%		-9.77	%
Residential mortgage loans		5.65	%		6.04	%		6.10	%
Home equity		4.14	%		4.28	%		5.61	%
Automobile loans		6.36	%		6.40	%		6.23	%
Credit card		10.06	%		10.89	%		9.28	%
Other consumer loans and leases		7.52	%		6.18	%		4.97	%
Total loans and leases		4.71	%		4.73	%		4.97	%
Taxable securities		4.33	%		4.39	%		4.83	%
Tax exempt securities		8.04	%		7.44	%		7.32	%
Other short-term investments		0.15	%		0.19	%		2.12	%
Total interest-earning assets		4.62	%		4.63	%		4.95	%
Interest-bearing liabilities:
Interest checking		0.27	%		0.27	%		0.78	%
Savings		0.77	%		0.89	%		1.16	%
Money market		0.63	%		0.72	%		1.76	%
Foreign office		0.54	%		0.54	%		1.42	%
Other time		3.48	%		3.62	%		3.52	%
Certificates - $100,000 and over		2.80	%		3.04	%		3.29	%
Other		0.19	%		0.23	%		2.10	%
Federal funds purchased		0.18	%		0.30	%		2.08	%
Other short-term borrowings		0.61	%		1.00	%		2.15	%
Long-term debt		2.79	%		3.36	%		3.85	%
Total interest-bearing liabilities		1.67	%		1.89	%		2.23	%
Ratios:
Net interest margin (taxable equivalent)		3.26	%		3.06	%		3.04	%
Net interest rate spread (taxable equivalent)		2.95	%		2.74	%		2.72	%
Interest-bearing liabilities to interest-earning assets		81.17	%		83.17	%		85.64	%

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date						% Change
	June 2009			June 2008			Yr/Yr
Assets
Interest-earning assets:
Commercial loans	$	28,500		$	27,587		3	%
Commercial mortgage loans		12,738			12,321		3	%
Commercial construction loans		4,978			5,639		(12	%)
Commercial leases		3,538			3,735		(5	%)
Residential mortgage loans		11,297			11,472		(2	%)
Home equity		12,699			11,929		6	%
Automobile loans		8,690			9,491		(8	%)
Credit card		1,844			1,681		10	%
Other consumer loans and leases		1,126			1,207		(7	%)
Taxable securities		16,532			12,057		37	%
Tax exempt securities		252			383		(34	%)
Other short-term investments		1,014			540		88	%
Total interest-earning assets		103,208			98,042		5	%
Cash and due from banks		2,393			2,296		4	%
Other assets		14,633			12,424		18	%
Allowance for loan and lease losses		(2,962	)		(1,068	)	177	%
Total assets	$	117,272		$	111,694		5	%
Liabilities
Interest-bearing liabilities:
Interest checking	$	14,534		$	14,616		(1	%)
Savings		16,490			16,329		1	%
Money market		4,362			6,744		(35	%)
Foreign office		1,736			2,306		(25	%)
Other time		14,557			10,201		43	%
Certificates - $100,000 and over		11,628			6,989		66	%
Other		243			3,405		(93	%)
Federal funds purchased		621			4,451		(86	%)
Other short-term borrowings		8,807			5,280		67	%
Long-term debt		11,827			14,064		(16	%)
Total interest-bearing liabilities		84,805			84,385		—
Demand deposits		16,114			13,615		18	%
Other liabilities		4,065			4,190		(3	%)
Total liabilities		104,984			102,190		3	%
Shareholders’ equity		12,288			9,504		29	%
Total liabilities and shareholders’ equity	$	117,272		$	111,694		5	%
Yield Analysis
Interest-earning assets:
Commercial loans		4.03	%		5.50	%
Commercial mortgage loans		4.50	%		6.10	%
Commercial construction loans		3.08	%		5.54	%
Commercial leases		3.89	%		-2.76	%
Residential mortgage loans		5.84	%		6.12	%
Home equity		4.21	%		6.03	%
Automobile loans		6.38	%		6.33	%
Credit card		10.47	%		9.22	%
Other consumer loans and leases		6.83	%		5.24	%
Total loans and leases		4.72	%		5.55	%
Taxable securities		4.36	%		4.97	%
Tax exempt securities		7.73	%		7.32	%
Other short-term investments		0.18	%		2.69	%
Total interest-earning assets		4.62	%		5.47	%
Interest-bearing liabilities:
Interest checking		0.27	%		1.11	%
Savings		0.83	%		1.48	%
Money market		0.67	%		2.26	%
Foreign office		0.54	%		1.98	%
Other time		3.55	%		3.94	%
Certificates - $100,000 and over		2.92	%		3.77	%
Other		0.21	%		2.74	%
Federal funds purchased		0.25	%		2.77	%
Other short-term borrowings		0.82	%		2.56	%
Long-term debt		3.09	%		4.15	%
Total interest-bearing liabilities		1.78	%		2.61	%
Ratios:
Net interest margin (taxable equivalent)		3.16	%		3.22	%
Net interest rate spread (taxable equivalent)		2.84	%		2.86	%
Interest-bearing liabilities to interest-earning assets		82.17	%		86.07	%

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	June 2009			March 2009			December 2008			September 2008			June 2008
Assets
Interest-earning assets:
Commercial loans	$	28,038		$	28,968		$	30,227		$	28,284		$	28,557
Commercial mortgage loans		12,668			12,809			13,194			13,257			12,590
Commercial construction loans		4,842			5,115			5,990			6,110			5,700
Commercial leases		3,512			3,564			3,610			3,642			3,747
Residential mortgage loans		11,669			10,921			10,327			10,711			11,244
Home equity		12,636			12,763			12,677			12,534			12,012
Automobile loans		8,692			8,687			8,428			8,303			8,439
Credit card		1,863			1,825			1,748			1,720			1,703
Other consumer loans and leases		1,076			1,177			1,225			1,211			1,220
Taxable securities		16,778			16,283			14,882			13,310			12,554
Tax exempt securities		242			262			288			315			364
Other short-term investments		742			1,290			513			890			445
Total interest-earning assets		102,758			103,664			103,109			100,287			98,575
Cash and due from banks		2,350			2,438			2,897			2,468			2,357
Other assets		13,907			15,363			15,089			13,683			12,370
Allowance for loan and lease losses		(3,137	)		(2,784	)		(2,142	)		(1,654	)		(1,204	)
Total assets	$	115,878		$	118,681		$	118,953		$	114,784		$	112,098
Liabilities
Interest-bearing liabilities:
Interest checking	$	14,837		$	14,229		$	13,698		$	13,843		$	14,396
Savings		16,705			16,272			15,960			16,154			16,583
Money market		4,167			4,559			4,983			6,051			6,592
Foreign office		1,717			1,755			1,876			2,126			2,169
Other time		14,612			14,501			13,337			10,780			9,517
Certificates - $100,000 and over		11,455			11,802			12,468			11,623			8,143
Other		240			247			1,090			395			2,948
Federal funds purchased		542			701			2,016			1,013			3,643
Other short-term borrowings		8,002			9,621			10,912			9,613			5,623
Long-term debt		11,130			12,531			13,100			14,392			14,803
Total interest-bearing liabilities		83,407			86,218			89,440			85,990			84,417
Demand deposits		16,689			15,532			14,602			14,225			14,023
Other liabilities		3,292			4,847			4,620			3,726			4,029
Total liabilities		103,388			106,597			108,662			103,941			102,469
Shareholders’ equity		12,490			12,084			10,291			10,843			9,629
Total liabilities and shareholders’ equity	$	115,878		$	118,681		$	118,953		$	114,784		$	112,098
Yield Analysis
Interest-earning assets:
Commercial loans		4.06	%		4.00	%		4.96	%		5.46	%		5.04	%
Commercial mortgage loans		4.44	%		4.56	%		6.10	%		8.71	%		5.93	%
Commercial construction loans		2.80	%		3.35	%		5.32	%		6.97	%		5.44	%
Commercial leases		4.66	%		3.12	%		3.75	%		3.85	%		-9.77	%
Residential mortgage loans		5.65	%		6.04	%		6.37	%		7.05	%		6.10	%
Home equity		4.14	%		4.28	%		5.08	%		5.76	%		5.61	%
Automobile loans		6.36	%		6.40	%		6.40	%		6.32	%		6.23	%
Credit card		10.06	%		10.89	%		10.68	%		9.93	%		9.28	%
Other consumer loans and leases		7.52	%		6.18	%		5.70	%		4.93	%		4.97	%
Total loans and leases		4.71	%		4.73	%		5.55	%		6.41	%		4.97	%
Taxable securities		4.33	%		4.39	%		4.91	%		4.81	%		4.83	%
Tax exempt securities		8.04	%		7.44	%		7.41	%		7.38	%		7.32	%
Other short-term investments		0.15	%		0.19	%		0.91	%		2.21	%		2.12	%
Total interest-earning assets		4.62	%		4.63	%		5.44	%		6.16	%		4.95	%
Interest-bearing liabilities:
Interest checking		0.27	%		0.27	%		0.60	%		0.78	%		0.78	%
Savings		0.77	%		0.89	%		1.27	%		1.29	%		1.16	%
Money market		0.63	%		0.72	%		1.29	%		1.67	%		1.76	%
Foreign office		0.54	%		0.54	%		0.95	%		1.37	%		1.42	%
Other time		3.48	%		3.62	%		3.62	%		3.31	%		3.52	%
Certificates - $100,000 and over		2.80	%		3.04	%		3.39	%		2.97	%		3.29	%
Other		0.19	%		0.23	%		0.64	%		1.83	%		2.10	%
Federal funds purchased		0.18	%		0.30	%		0.71	%		1.78	%		2.08	%
Other short-term borrowings		0.61	%		1.00	%		1.87	%		2.46	%		2.15	%
Long-term debt		2.79	%		3.36	%		4.13	%		3.63	%		3.85	%
Total interest-bearing liabilities		1.67	%		1.89	%		2.28	%		2.25	%		2.23	%
Ratios:
Net interest margin (taxable equivalent)		3.26	%		3.06	%		3.46	%		4.24	%		3.04	%
Net interest rate spread (taxable equivalent)		2.95	%		2.74	%		3.16	%		3.91	%		2.72	%
Interest-bearing liabilities to interest-earning assets		81.17	%		83.17	%		86.74	%		85.74	%		85.64	%

27

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	June 2009		March 2009		December 2008		September 2008		June 2008
Average Loans and Leases
Commercial:
Commercial loans	$	28,027	$	28,949	$	30,227	$	28,284	$	28,299
Commercial mortgage loans		12,463		12,508		13,189		13,257		12,590
Commercial construction loans		4,672		4,987		5,990		6,110		5,700
Commercial leases		3,512		3,564		3,610		3,641		3,747
Subtotal - commercial		48,674		50,008		53,016		51,292		50,336
Consumer:
Residential mortgage loans		8,713		9,195		9,335		9,681		9,922
Home equity		12,636		12,763		12,677		12,534		12,012
Automobile loans		8,692		8,687		8,428		8,303		8,439
Credit card		1,863		1,825		1,748		1,720		1,703
Other consumer loans and leases		995		1,083		1,165		1,165		1,125
Subtotal - consumer		32,899		33,553		33,353		33,403		33,201
Total average loans and leases (excluding held for sale)	$	81,573	$	83,561	$	86,369	$	84,695	$	83,537
Average loans held for sale		3,422		2,268		1,057		1,077		1,676
End of Period Loans and Leases
Commercial:
Commercial loans	$	28,409	$	28,617	$	29,197	$	29,424	$	28,958
Commercial mortgage loans		12,407		12,560		12,502		13,355		13,394
Commercial construction loans		4,491		4,745		5,114		6,002		6,007
Commercial leases		3,532		3,521		3,666		3,642		3,647
Subtotal - commercial		48,839		49,443		50,479		52,423		52,006
Consumer:
Residential mortgage loans		8,489		8,875		9,385		9,351		9,866
Home equity		12,511		12,710		12,752		12,599		12,421
Automobile loans		8,741		8,688		8,594		8,306		8,362
Credit card		1,914		1,816		1,811		1,688		1,717
Other consumer loans and leases		935		1,037		1,122		1,131		1,152
Subtotal - consumer		32,590		33,126		33,664		33,075		33,518
Total portfolio loans and leases	$	81,429	$	82,569	$	84,143	$	85,498	$	85,524
Core business activity		2,989		2,199		979		1,000		889
Portfolio management activity		352		403		473		—		—
Total loans held for sale		3,341		2,602		1,452		1,000		889
Operating lease equipment		474		470		463		369		364
Loans and Leases Serviced for Others (a):
Commercial loans		1,706		2,091		2,518		3,016		3,463
Commercial mortgage loans		264		297		312		290		279
Commercial construction loans		216		258		264		271		287
Commercial leases		152		154		170		167		174
Residential mortgage loans		43,527		41,524		40,378		39,777		38,740
Home equity		267		272		273		274		275
Automobile loans		1,569		1,754		1,946		2,138		2,358
Credit card		15		16		17		18		16
Other consumer loans and leases		7		7		7		8		5
Total loans and leases serviced for others		47,723		46,373		45,885		45,959		45,597
Total loans and leases serviced	$	132,967	$	132,014	$	131,943	$	132,826	$	132,374

(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities

28

Fifth Third Bancorp and Subsidiaries

Regulatory Capital (a)

$ in millions

(unaudited)

	As of
	June 2009			March 2009			December 2008			September 2008			June 2008
Tier I capital:
Shareholders’ equity	$	13,700		$	12,102		$	12,077		$	10,696		$	10,754
Goodwill and certain other intangibles		(2,564	)		(2,736	)		(2,801	)		(3,729	)		(3,774	)
Unrealized (gains) losses		(152	)		(151	)		(109	)		54			141
Qualifying trust preferred securities		2,763			2,763			2,763			2,763			2,763
Other		(5	)		(54	)		(6	)		(50	)		(55	)
Total tier I capital	$	13,742		$	11,924		$	11,924		$	9,734		$	9,829
Total risk-based capital:
Tier I capital	$	13,742		$	11,924		$	11,924		$	9,734		$	9,829
Qualifying allowance for credit losses		1,350			1,375			1,413			1,415			1,429
Qualifying subordinated notes		2,980			3,203			3,309			2,824			2,773
Total risk-based capital	$	18,072		$	16,502		$	16,646		$	13,973		$	14,031
Risk-weighted assets (b)	$	106,540		$	109,087		$	112,622		$	113,601		$	115,481
Ratios:
Average shareholders’ equity to average assets		10.78	%		10.18	%		8.65	%		9.45	%		8.59	%
Regulatory capital:
Fifth Third Bancorp
Tier I capital		12.90	%		10.93	%		10.59	%		8.57	%		8.51	%
Total risk-based capital		16.96	%		15.13	%		14.78	%		12.30	%		12.15	%
Tier I leverage		12.17	%		10.29	%		10.27	%		8.77	%		9.08	%
Tier I common equity		7.00	%		4.50	%		4.37	%		5.18	%		5.18	%
Fifth Third Bank
Tier I capital		11.53	%		8.83	%		8.13	%		8.63	%		8.36	%
Total risk-based capital		14.38	%		11.67	%		10.92	%		11.35	%		11.02	%
Tier I leverage		9.89	%		7.46	%		7.03	%		7.64	%		7.65	%
Tier I common equity		11.69	%		8.83	%		7.53	%		8.63	%		8.36	%
Fifth Third Bank (Michigan)
Tier I capital		10.13	%		11.14	%		11.06	%		9.65	%		9.68	%
Total risk-based capital		12.07	%		13.05	%		12.95	%		11.50	%		11.51	%
Tier I leverage		9.45	%		10.56	%		10.45	%		10.04	%		10.22	%
Tier I common equity		9.18	%		10.14	%		10.09	%		8.73	%		8.78	%
Fifth Third Bank N.A.
Tier I capital		12.83	%		15.67	%		16.33	%		14.59	%		11.13	%
Total risk-based capital		14.12	%		16.94	%		17.59	%		15.35	%		11.65	%
Tier I leverage		10.63	%		13.83	%		14.11	%		14.17	%		26.53	%
Tier I common equity		12.83	%		15.67	%		16.33	%		14.59	%		11.13	%

(a) Current period regulatory capital data and ratios are estimated

(b) Under the banking agencies risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied be the associated risk weight of the category. The resulting weighted values are added together resulting in the Bancorp’s total risk weighted assets.

29

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	June 2009			March 2009			December 2008			September 2008			June 2008
Average loans and leases (excluding held for sale):
Commercial loans	$	28,027		$	28,949		$	30,227		$	28,284		$	28,299
Commercial mortgage loans		12,463			12,508			13,189			13,257			12,590
Commercial construction loans		4,672			4,987			5,990			6,110			5,700
Commercial leases		3,512			3,564			3,610			3,641			3,747
Residential mortgage loans		8,713			9,195			9,335			9,681			9,922
Home equity		12,636			12,763			12,677			12,534			12,012
Automobile loans		8,692			8,687			8,428			8,303			8,439
Credit card		1,863			1,825			1,748			1,720			1,703
Other consumer loans and leases		995			1,083			1,165			1,165			1,125
Total average loans and leases (excluding held for sale)	$	81,573		$	83,561		$	86,369		$	84,695		$	83,537
Losses charged off:
Commercial loans	$	(185	)	$	(116	)	$	(430	)	$	(89	)	$	(109	)
Commercial mortgage loans		(89	)		(79	)		(468	)		(94	)		(22	)
Commercial construction loans		(79	)		(78	)		(541	)		(88	)		(49	)
Commercial leases		(1	)		—			—			—			—
Residential mortgage loans		(113	)		(75	)		(68	)		(77	)		(63	)
Home equity		(90	)		(73	)		(55	)		(58	)		(57	)
Automobile loans		(48	)		(56	)		(50	)		(40	)		(35	)
Credit card		(47	)		(38	)		(32	)		(25	)		(23	)
Other consumer loans and leases		(6	)		(6	)		(8	)		(10	)		(7	)
Total losses		(658	)		(521	)		(1,652	)		(481	)		(365	)
Recoveries of losses previously charged off:
Commercial loans		8			13			8			4			2
Commercial mortgage loans		4			2			3			—			1
Commercial construction loans		—			2			2			—			—
Commercial leases		—			—			—			—			—
Residential mortgage loans		1			—			—			—			—
Home equity		2			1			1			3			3
Automobile loans		12			10			7			8			9
Credit card		2			2			2			1			2
Other consumer loans and leases		3			1			2			2			4
Total recoveries		32			31			25			18			21
Net losses charged off:
Commercial loans		(177	)		(103	)		(422	)		(85	)		(107	)
Commercial mortgage loans		(85	)		(77	)		(465	)		(94	)		(21	)
Commercial construction loans		(79	)		(76	)		(539	)		(88	)		(49	)
Commercial leases		(1	)		—			—			—			—
Residential mortgage loans		(112	)		(75	)		(68	)		(77	)		(63	)
Home equity		(88	)		(72	)		(54	)		(55	)		(54	)
Automobile loans		(36	)		(46	)		(43	)		(32	)		(26	)
Credit card		(45	)		(36	)		(30	)		(24	)		(21	)
Other consumer loans and leases		(3	)		(5	)		(6	)		(8	)		(3	)
Total net losses charged off	$	(626	)	$	(490	)	$	(1,627	)	$	(463	)	$	(344	)
Net charge-off Ratios:
Commercial loans		2.53	%		1.45	%		5.55	%		1.19	%		1.52	%
Commercial mortgage loans		2.73	%		2.50	%		14.05	%		2.82	%		0.66	%
Commercial construction loans		6.76	%		6.21	%		35.81	%		5.71	%		3.46	%
Commercial leases		0.02	%		—			(0.04	%)		(0.03	%)		(0.01	%)
Residential mortgage loans		5.17	%		3.30	%		2.90	%		3.16	%		2.57	%
Home equity		2.81	%		2.28	%		1.68	%		1.77	%		1.83	%
Automobile loans		1.65	%		2.17	%		2.00	%		1.51	%		1.21	%
Credit card		9.64	%		7.92	%		6.82	%		5.45	%		4.93	%
Other consumer loans and leases		1.95	%		1.63	%		2.41	%		2.84	%		1.31	%
Total net charge-off ratio		3.08	%		2.38	%		7.50	%		2.17	%		1.66	%

30

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	June 2009			March 2009			December 2008			September 2008			June 2008
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	3,070		$	2,787		$	2,058		$	1,580		$	1,205
Total net losses charged off		(626	)		(490	)		(1,627	)		(463	)		(344	)
Provision for loan and lease losses		1,041			773			2,356			941			719
Allowance for loan and lease losses, ending	$	3,485		$	3,070		$	2,787		$	2,058		$	1,580
Reserve for unfunded commitments, beginning	$	231		$	195		$	132		$	115		$	103
Provision for unfunded commitments		8			36			63			17			10
Acquisitions		—			—			—			—			2
Reserve for unfunded commitments, ending	$	239		$	231		$	195		$	132		$	115
Components of allowance for credit losses:
Allowance for loan and lease losses	$	3,485		$	3,070		$	2,787		$	2,058		$	1,580
Reserve for unfunded commitments		239			231			195			132			115
Total allowance for credit losses	$	3,724		$	3,301		$	2,982		$	2,190		$	1,695
Nonperforming Assets and Delinquent Loans
Nonaccrual loans and leases:
Commercial loans	$	603		$	667		$	541		$	550		$	407
Commercial mortgage loans		760			692			482			724			524
Commercial construction loans		684			551			362			636			537
Commercial leases		51			27			21			23			18
Residential mortgage loans		262			265			259			216			142
Home equity		26			25			26			27			35
Automobile loans		1			2			5			3			7
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual loans and leases		2,387			2,229			1,696			2,179			1,670
Restructured loans and leases - commercial (non accrual)		12			—			—			—			—
Restructured loans and leases - consumer (non accrual)		188			167			80			50			56
Total nonperforming loans and leases		2,587			2,396			1,776			2,229			1,726
Repossessed personal property		21			25			24			24			22
Other real estate owned		232			227			206			198			190
Total nonperforming assets (a)		2,840			2,648			2,006			2,451			1,938
Nonaccrual loans held for sale		352			403			473			—			—
Total nonperforming assets including loans held for sale	$	3,192		$	3,051		$	2,479		$	2,451		$	1,938
Restructured loans and leases (accrual)	$	1,074		$	615		$	494		$	377		$	262
Ninety days past due loans and leases:
Commercial loans	$	142		$	131		$	76		$	109		$	54
Commercial mortgage loans		131			124			136			157			150
Commercial construction loans		60			49			74			84			53
Commercial leases		5			6			4			3			1
Residential mortgage loans		242			231			198			185			228
Home equity		99			105			96			72			76
Automobile loans		18			18			21			16			12
Credit card		65			68			56			44			33
Other consumer loans and leases		0			1			1			1			1
Total ninety days past due loans and leases	$	762		$	733		$	662		$	671		$	608
Ratios
Net losses charged off as a percent of average loans and leases		3.08	%		2.38	%		7.50	%		2.17	%		1.66	%
Allowance for loan and lease losses:
As a percent of loans and leases		4.28	%		3.72	%		3.31	%		2.41	%		1.85	%
As a percent of nonperforming loans and leases (a)		135	%		128	%		157	%		92	%		92	%
As a percent of nonperforming assets (a)		123	%		116	%		139	%		84	%		81	%
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		3.17	%		2.89	%		2.11	%		2.60	%		2.01	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		3.48	%		3.20	%		2.38	%		2.86	%		2.26	%
Nonperforming assets as a percent of total loans, leases and other assets, including other real estate owned		3.75	%		3.57	%		2.89	%		2.83	%		2.24	%

(a) Does not include nonaccrual loans held for sale

31

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ in millions

(unaudited)

	For the Three Months Ended
	June 2009		March 2009		December 2008		September 2008		June 2008
Total shareholders’ equity	13,700		12,102		12,077		10,696		10,754
Less:
Preferred stock	(3,588	)	(4,252	)	(4,241	)	(1,082	)	(1,082	)
Goodwill	(2,417	)	(2,623	)	(2,624	)	(3,592	)	(3,603	)
Intangible assets	(133	)	(154	)	(168	)	(188	)	(203	)
Tangible common equity, including unrealized gains / losses (a)	7,562		5,073		5,043		5,834		5,866
Less: Accumulated other comprehensive income / loss	(152	)	(151	)	(98	)	60		152
Tangible common equity, excluding unrealized gains / losses (b)	7,410		4,922		4,946		5,893		6,019
Add back: Preferred stock	3,588		4,252		4,241		1,082		1,082
Tangible equity (c)	10,998		9,174		9,187		6,975		7,100
Total assets (d)	115,984		119,313		119,764		116,294		114,975
Less:
Goodwill	(2,417	)	(2,623	)	(2,624	)	(3,592	)	(3,603	)
Intangible assets	(133	)	(154	)	(168	)	(188	)	(203	)
Tangible assets, including unrealized gains / losses (e)	113,434		116,536		116,972		112,514		111,169
Less: Accumulated other comprehensive income / loss, before tax	(234	)	(233	)	(151	)	92		235
Tangible assets, excluding unrealized gains / losses (f)	113,200		116,303		116,821		112,605		111,404
Common shares outstanding (g)	795		577		577		577		578
Risk-weighted assets, determined in accordance with prescribed regulatory requirements (h)	106,540		109,087		112,622		113,601		115,481
Ratios
Tangible equity (c) / (f)	9.72	%	7.89	%	7.86	%	6.19	%	6.37	%
Tangible common equity (excluding unrealized gains/losses) (b) / (f)	6.55	%	4.23	%	4.23	%	5.23	%	5.40	%
Tangible common equity (including unrealized gains/losses) (a) / (e)	6.67	%	4.35	%	4.31	%	5.19	%	5.28	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (b) / (h)	6.96	%	4.51	%	4.39	%	5.19	%	5.21	%
Tangible book value per share (a) / (g)	9.51		8.79		8.74		10.10		10.16

32

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended June 30, 2009	Commercial Banking		Branch Banking		Consumer Lending		Processing Solutions		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	339		395		130		4		39		(71	)	836
Provision for loan and lease losses	(289	)	(149	)	(164	)	(5	)	(18	)	(416	)	(1,041	)
Net interest income after provision for loan and lease losses	50		246		(34	)	(1	)	21		(487	)	(205	)
Total noninterest income	160		206		190		218		82		1,727		2,583
Total noninterest expense	(261	)	(332	)	(151	)	(143	)	(88	)	(46	)	(1,021	)
Net income (loss) before taxes	(51	)	120		5		74		15		1,194		1,357
Applicable income taxes (a)	47		(42	)	(2	)	(26	)	(5	)	(447	)	(475	)
Net income (loss)	(4	)	78		3		48		10		747		882
Dividends on preferred stock	—		—		—		—		—		26		26
Net income (loss) available to common shareholders	(4	)	78		3		48		10		721		856
For the three months ended March 31, 2009	Commercial Banking		Branch Banking		Consumer Lending		Processing Solutions		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	335		380		132		3		37		(106	)	781
Provision for loan and lease losses	(217	)	(128	)	(133	)	(3	)	(9	)	(283	)	(773	)
Net interest income after provision for loan and lease losses	118		252		(1	)	—		28		(389	)	8
Total noninterest income	179		181		156		205		83		(107	)	697
Total noninterest expense	(237	)	(325	)	(111	)	(135	)	(83	)	(71	)	(962	)
Net income (loss) before taxes	60		108		44		70		28		(567	)	(257	)
Applicable income taxes (a)	7		(38	)	(15	)	(24	)	(10	)	387		307
Net income (loss)	67		70		29		46		18		(180	)	50
Dividends on preferred stock	—		—		—		—		—		76		76
Net income (loss) available to common shareholders	67		70		29		46		18		(256	)	(26	)
For the three months ended December 31, 2008	Commercial Banking		Branch Banking		Consumer Lending		Processing Solutions		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	390		419		122		3		44		(80	)	898
Provision for loan and lease losses	(1,347	)	(125	)	(121	)	(5	)	(28	)	(730	)	(2,356	)
Net interest income after provision for loan and lease losses	(957	)	294		1		(2	)	16		(810	)	(1,458	)
Total noninterest income	176		196		76		215		87		(108	)	642
Total noninterest expense	(997	)	(324	)	(326	)	(143	)	(91	)	(141	)	(2,022	)
Net income (loss) before taxes	(1,778	)	166		(249	)	70		12		(1,059	)	(2,838	)
Applicable income taxes (a)	651		(58	)	88		(25	)	(4	)	44		696
Net income (loss)	(1,127	)	108		(161	)	45		8		(1,015	)	(2,142	)
Dividends on preferred stock	—		—		—		—		—		42		42
Net income (loss) available to common shareholders	(1,127	)	108		(161	)	45		8		(1,057	)	(2,184	)
For the three months ended September 30, 2008	Commercial Banking		Branch Banking		Consumer Lending		Processing Solutions		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	491		477		132		—		50		(82	)	1,068
Provision for loan and lease losses	(235	)	(87	)	(124	)	(4	)	(11	)	(480	)	(941	)
Net interest income after provision for loan and lease losses	256		390		8		(4	)	39		(562	)	127
Total noninterest income	161		212		73		213		96		(38	)	717
Total noninterest expense	(225	)	(312	)	(81	)	(140	)	(91	)	(118	)	(967	)
Net income (loss) before taxes	192		290		—		69		44		(718	)	(123	)
Applicable income taxes (a)	(42	)	(102	)	—		(24	)	(15	)	250		67
Net income (loss)	150		188		—		45		29		(468	)	(56	)
Dividends on preferred stock	—		—		—		—		—		25		25
Net income (loss) available to common shareholders	150		188		—		45		29		(493	)	(81	)
For the three months ended June 30, 2008	Commercial Banking		Branch Banking		Consumer Lending		Processing Solutions		Investment Advisors		Other/ Eliminations		Total
Net interest income (a)	338		409		96		(1	)	49		(147	)	744
Provision for loan and lease losses	(157	)	(75	)	(103	)	(4	)	(5	)	(375	)	(719	)
Net interest income after provision for loan and lease losses	181		334		(7	)	(5	)	44		(522	)	25
Total noninterest income	158		211		86		216		101		(50	)	722
Total noninterest expense	(215	)	(310	)	(88	)	(137	)	(99	)	(9	)	(858	)
Net income (loss) before taxes	124		235		(9	)	74		46		(581	)	(111	)
Applicable income taxes (a)	(18	)	(83	)	3		(26	)	(16	)	49		(91	)
Net income (loss)	106		152		(6	)	48		30		(532	)	(202	)

(a) Includes taxable equivalent adjustments of $5 million for the three months ended June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008 and $6 million for the three months ended June 30, 2008.

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