8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 20, 2011

(Exact Name of Registrant as Specified in Its Charter)

OHIO

(State or Other Jurisdiction of Incorporation)

001-33653	31-0854434
(Commission File Number)	(IRS Employer Identification No.)
Fifth Third Center 38 Fountain Square Plaza, Cincinnati, Ohio	45263
(Address of Principal Executive Offices)	(Zip Code)

(800) 972-3030

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On October 20, 2011, Fifth Third Bancorp issued a press release and its quarterly financial supplement announcing its earnings release for the third quarter of 2011. A copy of this press release and its quarterly financial supplement are attached as Exhibits 99.1 and 99.3, respectively. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01 Regulation FD Disclosure

On October 20, 2011, Fifth Third Bancorp issued a press release and its quarterly financial supplement announcing its earnings release for the third quarter of 2011. A copy of this press release and its quarterly financial supplement are attached as Exhibits 99.1 and 99.3, respectively. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

For the benefit of its investors, Fifth Third Bancorp is furnishing information regarding its earnings conference call. A copy of this item is attached as Exhibit 99.2. The information in this Form 8-K and Exhibit attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 – Press release dated October 20, 2011

Exhibit 99.2 – Third Quarter Earnings Conference Call

Exhibit 99.3 – Quarterly Financial Supplement

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FIFTH THIRD BANCORP (Registrant)
October 20, 2011	/s/    DANIEL T. POSTON
	Daniel T. Poston
	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

News Release

CONTACTS:	Jim Eglseder (Investors)	FOR IMMEDIATE RELEASE
	(513) 534-8424	October 20, 2011
	Rich Rosen, CFA (Investors)
	(513) 534-3307
	Debra DeCourcy, APR (Media)
	(513) 534-4153

FIFTH THIRD BANCORP ANNOUNCES THIRD QUARTER 2011 NET INCOME TO COMMON SHAREHOLDERS OF $373 MILLION OR $0.40 PER SHARE

• 3Q11 net income available to common shareholders of $373 million or $0.40 per diluted common share

• EPS up 14 percent versus $0.35 per share in 2Q11; up 82 percent versus $0.22 per share in 3Q10

• Net income to common increased 14 percent versus $328 million in 2Q11; increased 112 percent versus $175 million in 3Q10

• 3Q11 net income of $381 million

• 3Q11 return on assets of 1.3 percent

• 3Q11 return on average common equity* of 11.9 percent; return on average tangible common equity* of 14.9 percent

• Pre-provision net revenue (PPNR)* of $617 million

• Net interest income (FTE) of $902 million, up 4 percent sequentially; net interest margin 3.65 percent; period end loans up 2 percent sequentially driven by 4 percent growth in C&I loans

• Noninterest income of $665 million, up 1 percent sequentially driven primarily by securities gains, stronger mortgage-related revenue, and service charges on deposits, partially offset by the sequential effects of valuation adjustments on Visa total return swap and Vantiv puts and warrants

• Noninterest expense of $946 million, up 5 percent sequentially driven by costs related to the termination of certain FHLB borrowings and hedging transactions

• Credit trends remain favorable

• 3Q11 net charge-offs of $262 million (1.32 percent of loans and leases), the lowest level since 4Q07, versus 2Q11 NCOs of $304 million and 3Q10 NCOs of $956 million ($510 million on the sale or transfer of loans to held-for-sale and $446 million of losses on remaining loan portfolio)

• Total nonperforming assets of $2.1 billion including held-for-sale declined $123 million or 5 percent sequentially; nonperforming assets excluding held-for-sale of $1.9 billion declined $144 million or 7 percent; lowest levels since 2Q08

• NPA ratio of 2.44 percent down 22 bps from 2Q11, NPL ratio of 1.93 percent down 16 bps from 2Q11; Gross NPL inflows of $418 million down 25 percent sequentially

• Total delinquencies (includes 30-89 days past dues and over 90 days past dues) flat sequentially

• Allowance to loan ratio of 3.08 percent, 125 percent of nonperforming assets, 158 percent of nonperforming loans and leases, and 2.4 times 3Q11 annualized net charge-offs

• No direct European sovereign exposure; total exposure to European peripheral** borrowers less than $0.2 billion; gross exposure to European banks less than $0.3 billion

• Strong capital ratios; exceed fully phased-in Basel III proposed standards

• Tier 1 common ratio 9.33 percent, up 13 bps sequentially (pro forma*** ~9.8 percent on a fully-phased in Basel III-adjusted basis, estimated among highest of large cap U.S. banks)

• Tier 1 ratio 11.96 percent, Total capital ratio 16.25 percent, Leverage ratio 11.08 percent

• Tangible common equity ratio* of 8.63 percent excluding unrealized gains/losses; 9.04 percent including unrealized gains/losses

• Book value per share of $13.73, tangible book value per share* of $11.05

• Tangible book value per share growth 5 percent from 2Q11, 13 percent from 3Q10

* non-GAAP measure; See Reg. G reconciliation on page 32

** Greece, Ireland, Italy, Portugal, Spain

*** Current estimate (non-GAAP), subject to final rule-making and clarification by U.S. banking regulators; currently assumes unrealized securities gains are included in common equity for purposes of this calculation

Fifth Third Bancorp (Nasdaq: FITB) today reported third quarter 2011 net income of $381 million, compared with net income of $337 million in the second quarter of 2011 and net income of $238 million in the third quarter of 2010. After preferred dividends, third quarter 2011 net income available to common shareholders was $373 million or $0.40 per diluted share, compared with second quarter net income of $328 million or $0.35 per diluted share, and net income of $175 million or $0.22 per diluted share in the third quarter of 2010.

Third quarter 2011 results included a $17 million reduction in other noninterest income related to the valuation of a total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares. There were similar reductions of $4 million in the second quarter of 2011 and $5 million in the third quarter of 2010. Third quarter 2011 results included $3 million in positive valuation adjustments on Vantiv LLC puts and warrants, compared with positive $29 million in the second quarter of 2011 and negative $5 million in the third quarter of 2010. Third quarter 2011 results included investment securities gains of $26 million, compared with $6 million in the second quarter and $4 million in the year ago quarter. Third quarter 2011 results also included $28 million of expense related to the termination of certain FHLB borrowings and hedging transactions. Third quarter 2010 net income included a pre-tax benefit, net of associated expenses, of $127 million from the settlement of litigation related to a bank-owned life insurance (BOLI) policy.

Earnings Highlights

	For the Three Months Ended															% Change
	September 2011			June 2011			March 2011			December 2010			September 2010			Seq			Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	381		$	337		$	265		$	333		$	238			13	%		60	%
Net income available to common shareholders	$	373		$	328		$	88		$	270		$	175			14	%		112	%
Common Share Data
Earnings per share, basic		0.41			0.36			0.10			0.34			0.22			14	%		86	%
Earnings per share, diluted		0.40			0.35			0.10			0.33			0.22			14	%		82	%
Cash dividends per common share		0.08			0.06			0.06			0.01			0.01			33	%		700	%
Financial Ratios
Return on average assets		1.34	%		1.22	%		0.97	%		1.18	%		0.84	%		10	%		60	%
Return on average common equity		11.9			11.0			3.1			10.4			6.8			8	%		75	%
Return on average tangible common equity		14.9			14.0			4.2			13.9			9.4			6	%		59	%
Tier I capital		11.96			11.93			12.20			13.89			13.85			—			(14	%)
Tier I common equity		9.33			9.20			8.99			7.48			7.34			1	%		27	%
Net interest margin (a)		3.65			3.62			3.71			3.75			3.70			1	%		(1	%)
Efficiency (a)		60.4			59.1			62.5			62.6			56.2			2	%		7	%
Common shares outstanding (in thousands)		919,779			919,818			918,728			796,273			796,283			—			16	%
Average common shares outstanding
(in thousands):
Basic		914,947			914,601			880,830			791,072			791,017			—			16	%
Diluted		955,490			955,478			894,841			836,225			797,492			—			20	%

(a) Presented on a fully taxable equivalent basis

“Fifth Third’s third quarter results showed continued strength as we generated a profit of $373 million, up 14 percent from last quarter and more than doubling from last year,” said Kevin T. Kabat, president and CEO of Fifth Third Bancorp. “Return on assets was 1.34 percent and we generated a return on average tangible common equity of nearly 15 percent. Tangible book value per share grew a strong 5 percent sequentially.

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“Revenue increased 3 percent sequentially. The primary driver of growth during the quarter was a 4 percent increase in net interest income. Average loan balances excluding loans held-for-sale were up 1 percent over last quarter and up 2 percent on a period end basis. C&I continues to be a strength for us, with average balances up 3 percent from last quarter and up 9 percent compared with the third quarter of 2010. Noninterest income increased 1 percent driven by growth in mortgage banking net revenue, deposit service charges, and gains on securities sales, which more than offset the negative sequential effect of valuation adjustments related to our Visa total return swap and Vantiv puts and warrants. Expense trends reflected costs related to the termination of certain FHLB borrowings and hedging transactions.

“Credit trends continued to improve as net charge-offs declined 14 percent from last quarter to $262 million or 1.32 percent of loans and leases. Nonperforming asset (excluding held-for-sale) levels declined $144 million or 7 percent sequentially to 2.44 percent of loans, leases and OREO, and delinquency trends remain consistent with pre-crisis levels.

“While the current environment is characterized by a significant level of uncertainty, particularly related to Europe, Fifth Third is delivering solid results and expects to continue to do so in the future. We do not have significant direct exposure to Europe, particularly the peripheral nations of most concern; our capital and liquidity levels are very strong; and thus far we continue to see business activity in our markets that, while not robust, has been more than sufficient to support solid loan growth and strong earnings results.”

Income Statement Highlights

	For the Three Months Ended										% Change
	September 2011		June 2011		March 2011		December 2010		September 2010		Seq			Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	902	$	869	$	884	$	919	$	916		4	%		(2	%)
Provision for loan and lease losses		87		113		168		166		457		(23	%)		(81	%)
Total noninterest income		665		656		584		656		827		1	%		(20	%)
Total noninterest expense		946		901		918		987		979		5	%		(3	%)
Income before income taxes (taxable equivalent)		534		511		382		422		307		5	%		74	%
Taxable equivalent adjustment		4		5		5		5		4		(20	%)		—
Applicable income taxes		149		169		112		83		65		(12	%)		129	%
Net income		381		337		265		334		238		13	%		60	%
Less: Net income attributable to noncontrolling interest		—		—		—		1		—		—			—
Net income attributable to Bancorp		381		337		265		333		238		13	%		60	%
Dividends on preferred stock		8		9		177		63		63		(11	%)		(87	%)
Net income available to common shareholders		373		328		88		270		175		14	%		112	%
Earnings per share, diluted	$	0.40	$	0.35	$	0.10	$	0.33	$	0.22		14	%		82	%

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Net Interest Income

	For the Three Months Ended															% Change
	September 2011			June 2011			March 2011			December 2010			September 2010			Seq			Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	1,059		$	1,050		$	1,065		$	1,109		$	1,130			1	%		(6	%)
Total interest expense		157			181			181			190			214			(13	%)		(27	%)
Net interest income (taxable equivalent)	$	902		$	869		$	884		$	919		$	916			4	%		(2	%)
Average Yield
Yield on interest-earning assets (taxable equivalent)		4.28	%		4.37	%		4.47	%		4.52	%		4.57	%		(2	%)		(6	%)
Yield on interest-bearing liabilities		0.86	%		1.00	%		1.02	%		1.04	%		1.13	%		(14	%)		(24	%)
Net interest rate spread (taxable equivalent)		3.42	%		3.37	%		3.45	%		3.48	%		3.44	%		1	%		(1	%)
Net interest margin (taxable equivalent)		3.65	%		3.62	%		3.71	%		3.75	%		3.70	%		1	%		(1	%)
Average Balances ($ in millions)
Loans and leases, including held for sale	$	80,013		$	79,153		$	79,379		$	79,148		$	78,854			1	%		1	%
Total securities and other short-term investments		18,142			17,192			17,290			18,066			19,309			6	%		(6	%)
Total interest-earning assets		98,155			96,345			96,669			97,214			98,163			2	%		—
Total interest-bearing liabilities		72,473			72,503			72,372			72,657			75,076			—			(3	%)
Bancorp shareholders’ equity		12,841			12,365			13,052			14,007			13,852			4	%		(7	%)

Net interest income of $902 million on a fully taxable equivalent basis increased $33 million from the second quarter of 2011. Interest income increased $9 million and interest expense declined $24 million. Higher interest income results reflected growth in C&I, residential mortgage, auto, and bankcard loan balances, as well as in investment securities, which more than offset lower yields on loans and securities given the current interest rate environment. Interest expense improvements were driven by lower deposit costs, including the run-off of high-rate CDs and their replacement at lower yields, as well as lower long-term debt expense. The latter reflected the full-quarter impact of our redemption of Trust Preferred Securities (TruPS) in the second quarter of 2011 and hedge ineffectiveness in the second and third quarters of 2011 due to changes in the interest rate environment. An extra day in the quarter added $6 million sequentially to net interest income.

The net interest margin was 3.65 percent, an increase of 3 bps from 3.62 percent in the previous quarter. The increase reflected the net effect of the factors mentioned in the net interest income discussion, while day count reduced the margin by 2 bps.

Compared with the third quarter of 2010, net interest income decreased $14 million and the net interest margin decreased 5 bps. The decrease in net interest income and net interest margin was largely the result of lower loan and investment securities yields, partially offset by higher average loan balances, run-off in higher-priced CDs, and mix shift to lower cost deposit products.

Securities

Average securities and other short-term investments were $18.1 billion in the third quarter of 2011 compared with $17.2 billion in the previous quarter and $19.3 billion in the third quarter of 2010. Sequential growth was due to the investment of cash borrowed from the FHLB in advance of the U.S. debt ceiling deadline as well as the pre-investment of a portion of expected second half of 2011 portfolio cash flows during the quarter.

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Loans

	For the Three Months Ended										% Change
	September 2011		June 2011		March 2011		December 2010		September 2010		Seq			Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	28,777	$	27,909	$	27,331	$	26,338	$	26,344		3	%		9	%
Commercial mortgage		10,050		10,394		10,685		10,985		11,375		(3	%)		(12	%)
Commercial construction		1,752		1,918		2,030		2,171		2,885		(9	%)		(39	%)
Commercial leases		3,300		3,349		3,364		3,314		3,257		(1	%)		1	%
Subtotal - commercial loans and leases		43,879		43,570		43,410		42,808		43,861		1	%		—
Consumer:
Residential mortgage loans		10,006		9,654		9,282		8,382		7,837		4	%		28	%
Home equity		10,985		11,144		11,376		11,655		11,897		(1	%)		(8	%)
Automobile loans		11,445		11,188		11,070		10,825		10,517		2	%		9	%
Credit card		1,864		1,834		1,852		1,844		1,838		2	%		1	%
Other consumer loans and leases		441		547		646		722		667		(19	%)		(34	%)
Subtotal - consumer loans and leases		34,741		34,367		34,226		33,428		32,756		1	%		6	%
Total average loans and leases (excluding held for sale)	$	78,620	$	77,937	$	77,636	$	76,236	$	76,617		1	%		3	%
Average loans held for sale		1,393		1,216		1,743		2,912		2,237		15	%		(38	%)

Average loan and lease balances (excluding loans held-for-sale) were up $683 million sequentially, or 1 percent, and increased $2.0 billion, or 3 percent, from the third quarter of 2010. Period end loan and lease balances (excluding loans held-for-sale) grew $1.2 billion, or 2 percent, from the second quarter and $3.2 billion, or 4 percent, from a year ago.

Average commercial portfolio loan and lease balances were up $309 million sequentially, or 1 percent, and increased $18 million from the third quarter of 2010. C&I average loans increased 3 percent sequentially and 9 percent compared with the third quarter of 2010. Average commercial mortgage and commercial construction loan balances declined by a combined 4 percent sequentially and 17 percent from the same period the previous year, reflecting continued low customer demand and tighter underwriting standards. Commercial line usage, on an end of period basis, was consistent at 33 percent of committed lines in the third quarter versus 33 percent in the second quarter of 2011 and 32 percent in the third quarter of 2010.

Average consumer portfolio loan and lease balances were up $374 million sequentially, or 1 percent, and increased $2 billion, or 6 percent, from the third quarter of 2010. Average residential mortgage loans increased 4 percent sequentially, reflecting stronger originations during the quarter as rates decreased to historical lows as well as the continued retention of certain branch originated shorter-term fixed-rate residential mortgages, which totaled $406 million in the third quarter. Compared with the third quarter of 2010, average residential mortgage loans increased 28 percent and reflected the previously mentioned retention of mortgages. Average auto loans increased 2 percent sequentially and 9 percent year-over-year as continued strong loan origination volumes more than offset pay-downs. The growth outlined above was partially offset by lower home equity loan balances, which declined 1 percent sequentially and 8 percent year-over-year due to lower demand and production.

Average loans held-for-sale of $1.4 billion increased $177 million from second quarter levels primarily due to the high level of refinancing activity during the quarter. Compared with the third quarter of 2010, average

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loans held-for-sale decreased $844 million due to the effect of elevated mortgage refinancing activity in 2010 on the mortgage loan warehouse.

Deposits

	For the Three Months Ended										% Change
	September 2011		June 2011		March 2011		December 2010		September 2010		Seq			Yr/Yr
Average Deposits ($ in millions)
Demand deposits	$	23,677	$	22,174	$	21,582	$	21,066	$	19,362		7	%		22	%
Interest checking		18,322		18,701		18,539		17,578		17,142		(2	%)		7	%
Savings		21,747		21,817		21,324		20,602		19,905		—			9	%
Money market		5,213		5,009		5,136		4,985		4,940		4	%		6	%
Foreign office (a)		3,255		3,805		3,580		3,733		3,592		(14	%)		(9	%)
Subtotal - Transaction deposits		72,210		71,506		70,161		67,964		64,941		1	%		11	%
Other time		6,008		6,738		7,363		8,490		10,261		(11	%)		(41	%)
Subtotal - Core deposits		78,218		78,244		77,524		76,454		75,202		—			4	%
Certificates - $100,000 and over		3,376		3,955		4,226		4,858		6,096		(15	%)		(45	%)
Other		7		2		1		9		4		192	%		65	%
Total deposits	$	81,601	$	82,201	$	81,751	$	81,321	$	81,302		(1	%)		—

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

Average core deposits were flat sequentially and increased 4 percent from the third quarter of 2010, as transaction deposit growth was partially offset by continued runoff of consumer time deposits (CDs). Average transaction deposits, excluding consumer time deposits, increased 1 percent from the second quarter of 2011 primarily driven by higher demand deposit account (DDA) balances. Year-over-year growth of 11 percent was driven by higher DDA, savings, interest checking, and money market account balances.

Retail average transaction deposits increased 1 percent sequentially and reflected higher DDA, money market, and interest checking account balances. Growth of 13 percent from the third quarter of 2010 reflected higher balances across all transaction deposit account categories. Consumer CDs included in core deposits declined 11 percent sequentially and 42 percent year-over-year, driven by maturities of higher-rate CDs and customer reluctance to purchase longer CD maturities given the current low rate environment.

Commercial average transaction deposits increased 1 percent sequentially and 7 percent from the previous year. Sequential growth reflected higher inflows to DDAs during the quarter, with levels particularly elevated during the debt ceiling debate and aftermath, partially offset by lower foreign office deposits and lower public funds balances in interest checking. Year-over-year growth also reflected higher inflows to DDAs, partially offset by lower foreign office deposits. Average public funds balances were $5.4 billion compared with $5.7 billion in the second quarter of 2011 and $5.2 billion in the third quarter of 2010.

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Noninterest Income

	For the Three Months Ended										% Change
	September 2011		June 2011		March 2011		December 2010		September 2010		Seq			Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	134	$	126	$	124	$	140	$	143		7	%		(6	%)
Corporate banking revenue		87		95		86		103		86		(8	%)		1	%
Mortgage banking net revenue		178		162		102		149		232		10	%		(23	%)
Investment advisory revenue		92		95		98		93		90		(3	%)		2	%
Card and processing revenue		78		89		80		81		77		(12	%)		2	%
Other noninterest income		64		83		81		55		195		(23	%)		(67	%)
Securities gains, net		26		6		8		21		4		333	%		550	%
Securities gains, net - non-qualifying hedges on mortgage servicing rights		6		—		5		14		—		NM			NM
Total noninterest income	$	665	$	656	$	584	$	656	$	827		1	%		(20	%)

NM: Not Meaningful

Noninterest income of $665 million increased $9 million sequentially, or 1 percent, and declined $162 million or 20 percent compared with year ago results. The sequential growth was driven by securities gains, higher mortgage banking net revenue and service charges on deposits, partially offset by the effect of valuation adjustments on the Visa total return swap and Vantiv puts and warrants described below. The year-over-year decline was driven by the $152 million benefit in the third quarter of 2010 from the settlement of litigation associated with one of the Bancorp’s BOLI policies as well as by lower mortgage banking net revenue and service charges on deposits.

Third quarter 2011 results included a $17 million reduction in income due to the increase in fair value of the liability related to the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares. This total return swap reduced noninterest income by $4 million in the second quarter of 2011 and by $5 million in the third quarter of 2010. Third quarter 2011 results included a $3 million positive valuation adjustment on warrants and puts related to the 2009 sale of an interest in our processing business, compared with $29 million in positive valuation adjustments on these instruments in the second quarter of 2011 and $5 million in negative valuation adjustments in the third quarter of 2010. Third quarter 2010 results included the previously mentioned $152 million benefit from the settlement of litigation associated with one of the Bancorp’s BOLI policies. Excluding these items, as well as investment securities gains in all periods, noninterest income increased $28 million, or 4 percent, from the previous quarter driven by higher mortgage banking net revenue, and service charges on deposits. On a year-over-year basis, noninterest income, excluding the items mentioned above, decreased $28 million, or 4 percent, due to lower mortgage banking net revenue and service charges on deposits.

Service charges on deposits of $134 million increased 7 percent from the second quarter and decreased 6 percent compared with the same quarter last year. Retail service charges increased 11 percent sequentially due to higher consumer overdrafts driven by account growth and one additional day in the quarter. Compared with the third quarter of 2010, retail service charges declined 16 percent largely due to the implementation of new overdraft regulations and overdraft policies. Commercial service charges increased 4 percent sequentially and 2 percent compared with the same quarter last year due to reductions in earnings credit rates and account growth.

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Corporate banking revenue of $87 million decreased 8 percent from the second quarter of 2011 and increased 1 percent from the same period last year. Sequential results were driven by lower syndication fees and institutional sales revenue. Higher revenue from business lending fees primarily drove the year-over-year increase.

Mortgage banking net revenue was $178 million in the third quarter of 2011, a 10 percent increase from the second quarter of 2011 and a 23 percent decrease from the third quarter of 2010. Third quarter 2011 originations were $4.5 billion, compared with $3.1 billion in the previous quarter and $5.6 billion in the third quarter of 2010. Third quarter 2011 originations resulted in gains of $119 million on mortgages sold compared with gains of $64 million during the previous quarter and $173 million during the third quarter of 2010. Additionally gain on sale margins increased from second quarter levels although they were lower than third quarter 2010 levels. Mortgage servicing fees this quarter were $59 million, compared with $58 million in the second quarter of 2011 and $56 million in the third quarter of 2010. Mortgage banking net revenue is also affected by net servicing asset value adjustments, which include mortgage servicing rights (MSR) amortization and MSR valuation adjustments (including mark-to-market adjustments on free-standing derivatives used to economically hedge the MSR portfolio). These net servicing asset valuation adjustments were net zero in the third quarter of 2011 (reflecting MSR amortization of $34 million and MSR valuation adjustments of positive $34 million); positive $40 million in the second quarter of 2011 (MSR amortization of $25 million and MSR valuation adjustments of positive $65 million); and positive $3 million in the third quarter of 2010 (MSR amortization of $43 million and MSR valuation adjustments of positive $46 million). The mortgage-servicing asset, net of the valuation reserve, was $662 million at quarter end on a servicing portfolio of $56 billion.

Net gains on securities held as non-qualifying hedges for the MSR were $6 million in the third quarter of 2011, compared with none in the second quarter of 2011 and none in the third quarter of 2010.

Investment advisory revenue of $92 million decreased 3 percent sequentially and increased 2 percent from the third quarter of 2010. Private and Institutional asset-based fees, including investment management, are down sequentially and up year-over-year based on equity and bond market levels. Sequential and year-over-year growth rates were both negatively impacted by lower mutual fund advisory fees.

Card and processing revenue was $78 million in the third quarter of 2011, a decrease of 12 percent sequentially and an increase of 2 percent from the third quarter of 2010. The sequential decline was driven by increased redemptions on both debit and credit rewards programs. The year-over-year comparison reflected higher transaction volumes partially offset by elevated levels of both debit and credit rewards redemptions.

Other noninterest income totaled $64 million in the third quarter of 2011, compared with $83 million in the previous quarter and $195 million in the third quarter of 2010. Other noninterest income included revenue from our equity interest in the processing business, effects of the valuation of warrants and puts related to the

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processing business sale, and changes in income related to the valuation of the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares. For periods ending September 30, 2011, June 30, 2011, and September 30, 2010, revenue from our processing business equity interest was $17 million, $6 million, and $7 million, respectively; warrant/put valuation adjustments were positive $3 million, positive $29 million, and negative $5 million, respectively; and reductions in income related to the Visa, Inc. total return swap were $17 million, $4 million, and $5 million, respectively. Third quarter 2010 results also included the $152 million gain from the settlement of litigation related to a BOLI policy. Excluding these items, other noninterest income increased $9 million from the previous quarter and $15 million from the third quarter of 2010.

Net credit-related costs recognized in other noninterest income were $25 million in the third quarter of 2011 versus $28 million last quarter and $44 million in the third quarter of 2010. Third quarter 2011 results included $3 million of net gains on sales of commercial loans held-for-sale and $6 million of fair value charges on commercial loans held-for-sale, as well as $21 million of losses on other real estate owned (OREO). Second quarter 2011 results included $8 million of net gains on sales of commercial loans held-for-sale and $9 million of fair value charges on commercial loans held-for-sale, as well as $26 million of losses on OREO. Third quarter 2010 results included net losses of $1 million on the sale of loans held-for-sale, $9 million of fair value charges on commercial loans held-for-sale, and $29 million of losses on OREO.

Net gains on investment securities were $26 million in the third quarter of 2011, compared with investment securities gains of $6 million in the previous quarter and $4 million in the third quarter of 2010.

Noninterest Expense

	For the Three Months Ended										% Change
	September 2011		June 2011		March 2011		December 2010		September 2010		Seq			Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	369	$	365	$	351	$	385	$	360		1	%		3	%
Employee benefits		70		79		97		73		82		(12	%)		(15	%)
Net occupancy expense		75		75		77		76		72		—			3	%
Technology and communications		48		48		45		52		48		—			—
Equipment expense		28		28		29		32		30		1	%		(6	%)
Card and processing expense		34		29		29		26		26		18	%		33	%
Other noninterest expense		322		277		290		343		361		16	%		(11	%)
Total noninterest expense	$	946	$	901	$	918	$	987	$	979		5	%		(3	%)

Noninterest expense of $946 million increased 5 percent from the second quarter of 2011 and decreased 3 percent from the third quarter of 2010. Third quarter 2011 expenses included $28 million of costs related to the termination of certain FHLB borrowings and hedging transactions. Excluding these items, noninterest expense increased $17 million, or 2 percent, from the second quarter of 2011 driven by increased credit-related costs and increased card and processing expense partially offset by lower affordable housing investments impairment expense. Excluding the items relating to debt and hedge terminations mentioned above, as well as $25 million in legal expenses associated with the previously described BOLI settlement in the third quarter of 2010, noninterest expense declined $36 million, or 4 percent, compared with the third quarter of 2010 driven by decreased credit-related costs.

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Credit costs related to problem assets recorded as noninterest expense totaled $45 million in the third quarter of 2011, compared with $36 million in the second quarter of 2011 and $67 million in the third quarter of 2010. Third quarter credit-related expenses included provision expense for mortgage repurchases of $19 million, compared with $14 million in the second quarter and $45 million a year ago. (Realized mortgage repurchase losses were $31 million in the third quarter of 2011, compared with $22 million last quarter and $30 million in the third quarter of 2010, with the increase due to higher claims resolution.) Provision for unfunded commitments was a benefit of $10 million in the current quarter, compared with a benefit of $14 million last quarter and a benefit of $23 million a year ago. Derivative valuation adjustments related to customer credit risk were $4 million in expense this quarter versus $1 million in expense last quarter and $8 million in expense a year ago. OREO expense was $7 million this quarter, compared with $6 million last quarter and $9 million a year ago. Other problem asset-related expenses were $25 million in the third quarter, compared with $30 million the previous quarter and $28 million in the same period last year.

Credit Quality

	For the Three Months Ended
	September 2011			June 2011			March 2011			December 2010			September 2010
Total net losses charged off ($ in millions)
Commercial and industrial loans	($	55	)	($	76	)	($	83	)	($	85	)	($	237	)
Commercial mortgage loans		(47	)		(47	)		(54	)		(80	)		(268	)
Commercial construction loans		(35	)		(20	)		(26	)		(11	)		(121	)
Commercial leases		1			2			(1	)		3			(1	)
Residential mortgage loans		(36	)		(36	)		(65	)		(62	)		(204	)
Home equity		(53	)		(54	)		(63	)		(65	)		(66	)
Automobile loans		(12	)		(8	)		(20	)		(19	)		(17	)
Credit card		(18	)		(28	)		(31	)		(33	)		(36	)
Other consumer loans and leases		(7	)		(37	)		(24	)		(4	)		(6	)
Total net losses charged off		(262	)		(304	)		(367	)		(356	)		(956	)
Total losses		(294	)		(343	)		(397	)		(399	)		(992	)
Total recoveries		32			39			30			43			36
Total net losses charged off	($	262	)	($	304	)	($	367	)	($	356	)	($	956	)
Ratios (annualized)
Net losses charged off as a percent of average loans and leases (excluding held for sale)		1.32	%		1.56	%		1.92	%		1.86	%		4.95	%
Commercial		1.23	%		1.30	%		1.52	%		1.59	%		5.66	%
Consumer		1.32	%		1.89	%		2.43	%		2.20	%		4.00	%

Net charge-offs were $262 million in the third quarter of 2011, or 132 bps of average loans on an annualized basis. Net charge-offs were 14 percent lower than second quarter 2011 net charge-offs of $304 million, and 73 percent lower than third quarter 2010 net charge-offs of $956 million. Third quarter 2010 also included net losses of $510 million recorded on the sale or transfer of loans to held-for-sale.

Commercial net charge-offs were $136 million, or 123 bps, down $5 million versus $141 million, or 130 bps, in the second quarter. C&I net losses were $55 million compared with net losses of $76 million in the previous quarter. Commercial mortgage net losses totaled $47 million, unchanged from the second quarter. Commercial construction net losses were $35 million, compared with net losses of $20 million in the prior quarter. Net losses on residential builder and developer portfolio loans across the C&I and commercial real

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estate categories totaled $18 million. Originations of homebuilder / developer loans were suspended in 2007 and the remaining portfolio balance is $578 million, down from a peak of $3.3 billion in the second quarter of 2008.

Consumer net charge-offs were $126 million, or 132 bps, down $37 million versus $163 million, or 189 bps, in the second quarter. The decline was primarily driven by the effect of charge-offs in the second quarter recorded in the other consumer loan and lease category that resulted from a single credit relationship, as well as lower credit card charge-offs. Net charge-offs on residential mortgage loans in the portfolio were $36 million, unchanged from the previous quarter. Home equity net charge-offs were $53 million, versus $54 million in the second quarter. Net losses on brokered home equity loans represented 33 percent of third quarter home equity losses; such loans are 14 percent of the total home equity portfolio. The home equity portfolio included $1.5 billion of brokered loans, down from a peak of $2.6 billion in 2007; originations of these loans were discontinued in 2007. Net charge-offs in the auto portfolio of $12 million increased $4 million seasonally from the prior quarter. Net losses on consumer credit card loans were $18 million, down $10 million from the previous quarter. Net charge-offs in other consumer loans were $7 million, down $30 million from the previous quarter.

	For the Three Months Ended
	September 2011			June 2011			March 2011			December 2010			September 2010
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	2,614		$	2,805		$	3,004		$	3,194		$	3,693
Total net losses charged off		(262	)		(304	)		(367	)		(356	)		(956	)
Provision for loan and lease losses		87			113			168			166			457
Allowance for loan and lease losses, ending		2,439			2,614			2,805			3,004			3,194
Reserve for unfunded commitments, beginning		197			211			227			231			254
Provision for unfunded commitments		(10	)		(14	)		(16	)		(4	)		(23	)
Reserve for unfunded commitments, ending		187			197			211			227			231
Components of allowance for credit losses:
Allowance for loan and lease losses		2,439			2,614			2,805			3,004			3,194
Reserve for unfunded commitments		187			197			211			227			231
Total allowance for credit losses	$	2,626		$	2,811		$	3,016		$	3,231		$	3,425
Allowance for loan and lease losses ratio
As a percent of loans and leases		3.08	%		3.35	%		3.62	%		3.88	%		4.20	%
As a percent of nonperforming loans and leases (a)		158	%		160	%		170	%		179	%		202	%
As a percent of nonperforming assets (a)		125	%		125	%		132	%		138	%		153	%

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

Provision for loan and lease losses totaled $87 million in the third quarter of 2011, down $26 million from the second quarter of 2011 and down $370 million from the third quarter of 2010. The allowance for loan and lease losses represented 3.08 percent of total loans and leases outstanding as of quarter end, compared with 3.35 percent last quarter, and represented 158 percent of nonperforming loans and leases, 125 percent of nonperforming assets, and 235 percent of third quarter annualized net charge-offs.

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	September 2011			June 2011			As of March 2011			December 2010			September 2010
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans (a)	$	449		$	485		$	477		$	473		$	525
Commercial mortgage loans		353			417			415			407			464
Commercial construction loans		151			147			159			182			211
Commercial leases		13			16			11			11			30
Residential mortgage loans		142			145			140			152			124
Home equity		25			26			24			23			23
Automobile loans		—			1			1			1			1
Other consumer loans and leases (a)		1			3			60			84			—
Total nonaccrual loans and leases	$	1,134		$	1,240		$	1,287		$	1,333		$	1,378
Restructured loans and leases - commercial (nonaccrual)		189			188			149			141			31
Restructured loans and leases - consumer (nonaccrual)		215			211			209			206			175
Total nonperforming loans and leases	$	1,538		$	1,639		$	1,645		$	1,680		$	1,584
Repossessed personal property		17			15			20			27			29
Other real estate owned (b)		389			434			461			467			469
Total nonperforming assets (c)	$	1,944		$	2,088		$	2,126		$	2,174		$	2,082
Nonaccrual loans held for sale		171			147			184			247			680
Restructured loans - commercial (nonaccrual) held for sale		26			29			32			47			19
Total nonperforming assets including loans held for sale	$	2,141		$	2,264		$	2,342		$	2,468		$	2,781
Restructured Consumer loans and leases (accrual)	$	1,601		$	1,593		$	1,573		$	1,560		$	1,588
Restructured Commercial loans and leases (accrual)	$	349		$	258		$	243		$	228		$	146
Total loans and leases 90 days past due	$	274		$	279		$	266		$	274		$	317
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		1.93	%		2.09	%		2.11	%		2.15	%		2.07	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (c)		2.44	%		2.66	%		2.73	%		2.79	%		2.72	%

(a) Nonaccrual loans and leases at December 31, 2010 reflect a reclassification of $84 million in nonperforming loans from commercial and industrial loans to other consumer loans and leases which occurred after the Bancorp’s Form 8-K was filed on January 19, 2011. This reclassification was primarily a result of the determination that consumer loans obtained in the foreclosure of a commercial loan were more appropriately categorized as other consumer loans and leases in accordance with regulatory guidelines.

(b) Excludes government insured advances.

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

Total nonperforming assets, including loans held-for-sale, were $2.1 billion, a decline of $123 million, or 5 percent, from the previous quarter. Nonperforming assets held-for-investment (NPAs) at quarter end were $1.9 billion or 2.44 percent of total loans, leases and OREO, and decreased $144 million, or 7 percent, from the previous quarter. Nonperforming loans held-for-investment (NPLs) at quarter end were $1.5 billion or 1.93 percent of total loans, leases and OREO, and decreased $101 million or 6 percent from the second quarter.

Commercial portfolio NPAs at quarter-end were $1.5 billion, or 3.31 percent of commercial loans, leases and OREO, and decreased $138 million, or 9 percent, from the second quarter. Commercial portfolio NPLs were $1.2 billion, or 2.60 percent of commercial loans and leases, and decreased $97 million from last quarter. Commercial construction portfolio NPAs were $237 million, a decline of $3 million from the previous quarter. Commercial mortgage portfolio NPAs were $631 million, down $80 million from the prior quarter. Commercial real estate loans in Michigan and Florida represented 47 percent of commercial real estate NPAs and 37 percent of our total commercial real estate portfolio. C&I portfolio NPAs of $588 million decreased $51 million from the previous quarter. Within the overall commercial loan portfolio, residential real estate builder and developer portfolio NPAs of $207 million declined $35 million from the second quarter, of which $48 million were commercial construction assets, $144 million were commercial mortgage assets and $15 million were C&I assets. Commercial portfolio NPAs included $189 million of nonaccrual troubled debt restructurings (TDRs), compared with $188 million last quarter.

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Consumer portfolio NPAs of $470 million, or 1.34 percent of consumer loans, leases and OREO, decreased $6 million from the second quarter. Consumer portfolio NPLs were $383 million, or 1.09 percent of consumer loans and leases, and decreased $3 million from last quarter. Of consumer NPAs, $407 million were in residential real estate portfolios. Residential mortgage NPAs were $337 million, consistent with the previous quarter, with Florida representing 46 percent of residential mortgage NPAs and 17 percent of total residential mortgage loans. Home equity NPAs were down $1 million compared with last quarter at $70 million. Credit card NPAs declined $4 million from the previous quarter to $46 million. Other consumer NPAs declined $2 million to $1 million this quarter. Consumer nonaccrual TDRs were $215 million in the third quarter of 2011, compared with $211 million in the second quarter.

Second quarter OREO balances included in portfolio NPA balances described above were $389 million, down $45 million from $434 million in the second quarter, and included $316 million in commercial OREO and $73 million in consumer OREO. Repossessed personal property of $17 million consisted largely of autos.

Loans still accruing over 90 days past due were $274 million, down $5 million, or 2 percent, from the second quarter of 2011. Commercial balances 90 days past due of $63 million decreased $5 million sequentially. Consumer balances 90 days past due of $211 million were flat from the previous quarter. Loans 30-89 days past due of $474 million increased $5 million, or 1 percent, from the previous quarter. Commercial balances 30-89 days past due of $135 million were flat sequentially and consumer balances 30-89 days past due of $339 million increased $5 million from the second quarter.

At quarter-end, we held $197 million of commercial nonaccrual loans for sale, compared with $176 million at the end of the second quarter. During the quarter we sold approximately $17 million of held for sale loans; we transferred approximately $57 million of commercial loans from the portfolio to loans held-for-sale, and we transferred approximately $3 million of loans from loans held-for-sale to OREO. We recorded charge-offs of $17 million on the loans transferred to held for sale; we recorded negative valuation adjustments of $6 million on held-for-sale loans and we recorded net gains of $3 million on loans that were sold or settled during the quarter.

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Capital Position

	For the Three Months Ended
	September 2011			June 2011			March 2011			December 2010			September 2010
Capital Position
Average shareholders’ equity to average assets		11.33	%		11.12	%		11.77	%		12.52	%		12.38	%
Tangible equity (a)		8.98	%		9.01	%		8.76	%		10.42	%		10.04	%
Tangible common equity (excluding unrealized gains/losses) (a)		8.63	%		8.64	%		8.39	%		7.04	%		6.70	%
Tangible common equity (including unrealized gains/losses) (a)		9.04	%		8.96	%		8.60	%		7.30	%		7.06	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (a) (b)		9.39	%		9.28	%		9.09	%		7.56	%		7.40	%
Regulatory capital ratios: (c)
Tier I capital		11.96	%		11.93	%		12.20	%		13.89	%		13.85	%
Total risk-based capital		16.25	%		16.03	%		16.27	%		18.08	%		18.28	%
Tier I leverage		11.08	%		11.03	%		11.21	%		12.79	%		12.54	%
Tier I common equity (a)		9.33	%		9.20	%		8.99	%		7.48	%		7.34	%
Book value per share		13.73			13.23			12.80			13.06			12.86
Tangible book value per share (a)		11.05			10.55			10.11			9.94			9.74

(a) The tangible equity, tangible common equity, tier I common equity and tangible book value per share ratios, while not required by accounting principles generally accepted in the United States of America (U.S. 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 U.S. 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.

Capital ratios remained strong during the quarter. Compared with the prior quarter, the Tier 1 common equity ratio increased 13 bps to 9.33 percent. The tangible common equity to tangible assets ratio of 8.63 percent (excluding unrealized gains/losses) and 9.04 percent (including unrealized gains/losses) reflected growth in both retained earnings and assets. The Tier 1 capital ratio increased 3 bps to 11.96 percent reflecting retained earnings growth offset by the redemption of TruPS during the quarter; the Total capital ratio increased 22 bps to 16.25 percent; and the Leverage ratio increased 5 bps to 11.08 percent.

Book value per share at September 30, 2011 was $13.73 and tangible book value per share was $11.05, compared with June 30, 2011 book value per share of $13.23 and tangible book value per share of $10.55.

The Bank for International Settlements (BIS) has proposed new capital rules for Internationally Active banks, known as “Basel III.” Fifth Third is subject to U.S. bank regulations for capital, which have not yet been issued in response to the Basel proposals. Fifth Third’s capital levels exceed current U.S. “well-capitalized” standards and proposed Basel III standards, and we expect Fifth Third’s capital levels to continue to exceed U.S. “well-capitalized” standards including the adoption of U.S. rules that incorporate changes contemplated under Basel III and/or the Dodd-Frank Act.

Fifth Third’s Tier 1 and Total capital levels at September 30, 2011 included $2.3 billion of TruPS, or 2.2 percent of risk weighted assets. During the quarter, the Bancorp redeemed at par $40 million of its TruPS.

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Under the Dodd-Frank financial reform legislation, these TruPS are intended to be phased out of Tier 1 capital over three years beginning in 2013. The BIS also issued proposals that would include a phase-out of these securities, although over a longer period. We will continue to evaluate the role of these types of securities in our capital structure, based on regulatory developments. To the extent these types of securities remain outstanding during and after the phase-in period, they would be expected to continue to be included in Total capital, subject to prevailing U.S. capital standards. The BIS has also proposed adjustments to definitions of capital, including what is to be included in the definition of Tier 1 common, and to risk weightings applied to certain types of assets. We do not currently expect these proposed adjustments to negatively affect Fifth Third’s Tier 1 common capital levels and for any potentially positive effect to be modest.

We expect to manage our capital structure over time – including the components represented by common equity and non-common equity –to adapt to and reflect the effect of legislation, changes in U.S. bank capital regulations that reflect international capital rules developments, regulatory expectations, and our goals for capital levels and capital composition as appropriate given any changes in rules.

Other

Fifth Third Bank owns a 49 percent interest in Vantiv, LLC, formerly Fifth Third Processing Solutions, LLC. (Advent International owns the remaining 51 percent interest.) The 49 percent interest is recorded on Fifth Third’s balance sheet as an equity method investment with a book value of $551 million. Additionally, Fifth Third has a warrant to purchase additional shares in Vantiv which is carried as a derivative asset at a fair market value of $101 million, and Advent has a contingent put option to sell shares in Vantiv to Fifth Third which is carried as a derivative liability at a fair market value of $1 million.

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, November 3^rd by dialing 800-585-8367 for domestic access and 404-537-3406 for international access (passcode 11414384#).

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Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2011, the Company had $115 billion in assets and operated 15 affiliates with 1,314 full-service Banking Centers, including 103 Bank Mart^® locations open seven days a week inside select grocery stores and 2,437 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 Vantiv, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2011, had $273 billion in assets under care, of which it managed $23 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. 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, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; (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) difficulties in separating Vantiv, LLC, formerly Fifth Third Processing Solutions from Fifth Third; (21) 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; (22) ability to secure confidential information through the use of computer systems and telecommunications networks; and (23) 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 September 30, 2011

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 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

17

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended									% Change						Year to Date						% Change
	September 2011			June 2011			September 2010			Seq			Yr/Yr			September 2011			September 2010			Yr/Yr
Income Statement Data
Net interest income (a)	$	902		$	869		$	916			4	%		(2	%)	$	2,655		$	2,703			(2	%)
Noninterest income		665			656			827			1	%		(20	%)		1,905			2,074			(8	%)
Total revenue (a)		1,567			1,525			1,743			3	%		(10	%)		4,560			4,777			(5	%)
Provision for loan and lease losses		87			113			457			(23	%)		(81	%)		368			1,372			(73	%)
Noninterest expense		946			901			979			5	%		(3	%)		2,765			2,869			(4	%)
Net income attributable to Bancorp		381			337			238			13	%		60	%		983			420			134	%
Net income available to common shareholders		373			328			175			14	%		112	%		789			233			239	%
Common Share Data
Earnings per share, basic	$	0.41		$	0.36		$	0.22			14	%		86	%	$	0.87		$	0.29			200	%
Earnings per share, diluted		0.40			0.35			0.22			14	%		82	%		0.86			0.29			197	%
Cash dividends per common share		0.08			0.06			0.01			33	%		700	%		0.20			0.03			567	%
Book value per share		13.73			13.23			12.86			4	%		7	%		13.73			12.86			7	%
Market price per share		10.10			12.75			12.03			(21	%)		(16	%)		10.10			12.03			(16	%)
Common shares outstanding (in thousands)		919,779			919,818			796,283			—			16	%		919,779			796,283			16	%
Average common shares outstanding (in thousands):
Basic		914,947			914,601			791,017			—			16	%		903,584			790,778			14	%
Diluted		955,490			955,478			797,492			—			20	%		947,231			795,511			19	%
Market capitalization	$	9,290		$	11,728		$	9,579			(21	%)		(3	%)	$	9,290		$	9,579			(3	%)
Financial Ratios
Return on assets		1.34	%		1.22	%		0.84	%		10	%		60	%		1.18	%		0.50	%		136	%
Return on average common equity		11.9	%		11.0	%		6.8	%		8	%		75	%		8.8	%		3.1	%		184	%
Return on average tangible common equity (b)		14.9	%		14.0	%		9.4	%		6	%		59	%		11.3	%		4.5	%		151	%
Noninterest income as a percent of total revenue		42	%		43	%		47	%		(2	%)		(11	%)		42	%		43	%		(2	%)
Average equity as a percent of average assets		11.33	%		11.12	%		12.38	%		2	%		(8	%)		11.41	%		12.12	%		(6	%)
Tangible common equity (c) (d)		8.63	%		8.64	%		6.70	%		—			29	%		8.63	%		6.70	%		29	%
Net interest margin (a)		3.65	%		3.62	%		3.70	%		1	%		(1	%)		3.66	%		3.63	%		1	%
Efficiency (a)		60.4	%		59.1	%		56.2	%		2	%		7	%		60.6	%		60.1	%		1	%
Effective tax rate		27.9	%		33.3	%		21.5	%		(16	%)		30	%		30.3	%		19.7	%		54	%
Credit Quality
Net losses charged off	$	262		$	304		$	956			(14	%)		(73	%)	$	933		$	1,972			(52	%)
Net losses charged off as a percent of average loans and leases		1.32	%		1.56	%		4.95	%		(15	%)		(73	%)		1.60	%		3.41	%		(53	%)
Allowance for loan and lease losses as a percent of loans and leases		3.08	%		3.35	%		4.20	%		(8	%)		(27	%)		3.08	%		4.20	%		(27	%)
Allowance for credit losses as a percent of loans and leases		3.32	%		3.61	%		4.51	%		(8	%)		(26	%)		3.32	%		4.51	%		(26	%)
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		2.44	%		2.66	%		2.72	%		(8	%)		(10	%)		2.44	%		2.72	%		(10	%)
Average Balances
Loans and leases, including held for sale	$	80,013		$	79,153		$	78,854			1	%		1	%	$	79,517		$	79,262			—
Total securities and other short-term investments		18,142			17,192			19,309			6	%		(6	%)		17,545			20,248			(13	%)
Total assets		113,295			111,200			111,854			2	%		1	%		111,789			112,628			(1	%)
Transaction deposits (f)		72,210			71,506			64,941			1	%		11	%		71,300			64,887			10	%
Core deposits (g)		78,218			78,244			75,202			—			4	%		77,998			76,099			2	%
Wholesale funding (h)		17,932			16,433			19,236			9	%		(7	%)		16,936			19,473			(13	%)
Bancorp shareholders’ equity		12,841			12,365			13,852			4	%		(7	%)		12,752			13,646			(7	%)
Regulatory Capital Ratios (i)
Tier I capital		11.96	%		11.93	%		13.85	%		—			(14	%)		11.96	%		13.85	%		(14	%)
Total risk-based capital		16.25	%		16.03	%		18.28	%		1	%		(11	%)		16.25	%		18.28	%		(11	%)
Tier I leverage		11.08	%		11.03	%		12.54	%		—			(12	%)		11.08	%		12.54	%		(12	%)
Tier I common equity (d)		9.33	%		9.20	%		7.34	%		1	%		27	%		9.33	%		7.34	%		27	%
Operations
Banking centers		1,314			1,316			1,309			—			—			1,314			1,309			—
ATMs		2,437			2,456			2,390			(1	%)		2	%		2,437			2,390			2	%
Full-time equivalent employees		21,172			20,953			20,667			1	%		2	%		21,172			20,667			2	%

(a) Presented on a fully taxable equivalent basis

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders (net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity, (average common equity less goodwill and intangible assets).

(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 (total assets less goodwill, intangible assets and accumulated other comprehensive income.)

(d) The tangible common equity and tier I common equity ratios, while not required by U.S. GAAP, are considered to be important metrics with which to analyze a bank’s position. The ratios have been included herein to facilitate a greater 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
	September 2011			June 2011			March 2011			December 2010			September 2010
Income Statement Data
Net interest income (a)	$	902		$	869		$	884		$	919		$	916
Noninterest income		665			656			584			656			827
Total revenue (a)		1,567			1,525			1,468			1,575			1,743
Provision for loan and lease losses		87			113			168			166			457
Noninterest expense		946			901			918			987			979
Net income attributable to Bancorp		381			337			265			333			238
Net income available to common shareholders		373			328			88			270			175
Common Share Data
Earnings per share, basic	$	0.41		$	0.36		$	0.10		$	0.34		$	0.22
Earnings per share, diluted		0.40			0.35			0.10			0.33			0.22
Cash dividends per common share		0.08			0.06			0.06			0.01			0.01
Book value per share		13.73			13.23			12.80			13.06			12.86
Market price per share		10.10			12.75			13.89			14.68			12.03
Common shares outstanding (in thousands)		919,779			919,818			918,728			796,273			796,283
Average common shares outstanding (in thousands):
Basic		914,947			914,601			880,830			791,072			791,017
Diluted		955,490			955,478			894,841			836,225			797,492
Market capitalization	$	9,290		$	11,728		$	12,761		$	11,689		$	9,579
Financial Ratios
Return on assets		1.34	%		1.22	%		0.97	%		1.18	%		0.84	%
Return on average common equity		11.9	%		11.0	%		3.1	%		10.4	%		6.8	%
Return on average tangible common equity (b)		14.9	%		14.0	%		4.2	%		13.9	%		9.4	%
Noninterest income as a percent of total revenue		42	%		43	%		40	%		42	%		47	%
Average equity as a percent of average assets		11.33	%		11.12	%		11.77	%		12.52	%		12.38	%
Tangible common equity (c) (d)		8.63	%		8.64	%		8.39	%		7.04	%		6.70	%
Net interest margin (a)		3.65	%		3.62	%		3.71	%		3.75	%		3.70	%
Efficiency (a)		60.4	%		59.1	%		62.5	%		62.6	%		56.2	%
Effective tax rate		27.9	%		33.3	%		29.7	%		20.0	%		21.5	%
Credit Quality
Net losses charged off	$	262		$	304		$	367		$	356		$	956
Net losses charged off as a percent of average loans and leases		1.32	%		1.56	%		1.92	%		1.86	%		4.95	%
Allowance for loan and lease losses as a percent of loans and leases		3.08	%		3.35	%		3.62	%		3.88	%		4.20	%
Allowance for credit losses as a percent of loans and leases		3.32	%		3.61	%		3.89	%		4.17	%		4.51	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		2.44	%		2.66	%		2.73	%		2.79	%		2.72	%
Average Balances
Loans and leases, including held for sale	$	80,013		$	79,153		$	79,379		$	79,148		$	78,854
Total securities and other short-term investments		18,142			17,192			17,290			18,066			19,309
Total assets		113,295			111,200			110,844			111,858			111,854
Transaction deposits (f)		72,210			71,506			70,161			67,964			64,941
Core deposits (g)		78,218			78,244			77,524			76,454			75,202
Wholesale funding (h)		17,932			16,433			16,430			17,269			19,236
Bancorp shareholders’ equity		12,841			12,365			13,052			14,007			13,852
Regulatory Capital Ratios (i)
Tier I capital		11.96	%		11.93	%		12.20	%		13.89	%		13.85	%
Total risk-based capital		16.25	%		16.03	%		16.27	%		18.08	%		18.28	%
Tier I leverage		11.08	%		11.03	%		11.21	%		12.79	%		12.54	%
Tier I common equity (d)		9.33	%		9.20	%		8.99	%		7.48	%		7.34	%
Operations
Banking centers		1,314			1,316			1,310			1,312			1,309
ATMs		2,437			2,456			2,453			2,445			2,390
Full-time equivalent employees		21,172			20,953			20,837			20,838			20,667

(a) Presented on a fully taxable equivalent basis

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders (net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity, (average common equity less goodwill and intangible assets).

(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 (total assets less goodwill, intangible assets and accumulated other comprehensive income.)

(d) The tangible common equity and tier I common equity ratios, while not required by U.S. GAAP, are considered to be important metrics with which to analyze a bank’s position. The ratios have been included herein to facilitate a greater 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
	September 2011		June 2011		September 2010		Seq			Yr/Yr			September 2011		September 2010		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	899	$	893	$	962		1	%		(7	%)	$	2,701	$	2,872		(6	%)
Interest on securities		155		151		161		3	%		(4	%)		455		506		(10	%)
Interest on other short-term investments		1		1		3		16	%		(54	%)		4		7		(42	%)
Total interest income		1,055		1,045		1,126		1	%		(6	%)		3,160		3,385		(7	%)
Interest Expense
Interest on deposits		84		97		141		(14	%)		(41	%)		287		473		(39	%)
Interest on short-term borrowings		1		1		1		—			—			3		3		—
Interest on long-term debt		72		83		72		(13	%)		—			229		219		5	%
Total interest expense		157		181		214		(13	%)		(27	%)		519		695		(25	%)
Net Interest Income		898		864		912		4	%		(2	%)		2,641		2,690		(2	%)
Provision for loan and lease losses		87		113		457		(23	%)		(81	%)		368		1,372		(73	%)
Net interest income after provision for loan and lease losses		811		751		455		8	%		78	%		2,273		1,318		72	%
Noninterest Income
Service charges on deposits		134		126		143		7	%		(6	%)		384		435		(12	%)
Corporate banking revenue		87		95		86		(8	%)		1	%		268		260		3	%
Mortgage banking net revenue		178		162		232		10	%		(23	%)		442		498		(11	%)
Investment advisory revenue		92		95		90		(3	%)		2	%		285		267		7	%
Card and processing revenue		78		89		77		(12	%)		2	%		248		235		6	%
Other noninterest income		64		83		195		(23	%)		(67	%)		226		354		(36	%)
Securities gains, net		26		6		4		333	%		550	%		40		25		60	%
Securities gains, net - non-qualifying hedges on mortgage servicing rights		6		—		—		NM			NM			12		—		NM
Total noninterest income		665		656		827		1	%		(20	%)		1,905		2,074		(8	%)
Noninterest Expense
Salaries, wages and incentives		369		365		360		1	%		3	%		1,085		1,046		4	%
Employee benefits		70		79		82		(12	%)		(15	%)		246		241		2	%
Net occupancy expense		75		75		72		—			3	%		226		222		2	%
Technology and communications		48		48		48		—			—			140		138		2	%
Equipment expense		28		28		30		1	%		(6	%)		85		91		(6	%)
Card and processing expense		34		29		26		18	%		33	%		92		82		12	%
Other noninterest expense		322		277		361		16	%		(11	%)		891		1,049		(15	%)
Total noninterest expense		946		901		979		5	%		(3	%)		2,765		2,869		(4	%)
Income before income taxes		530		506		303		5	%		75	%		1,413		523		170	%
Applicable income taxes		149		169		65		(12	%)		129	%		429		103		317	%
Net Income		381		337		238		13	%		60	%		984		420		134	%
Less: Net income attributable to noncontrolling interest		—		—		—		—			—			1		—		NM
Net income attributable to Bancorp		381		337		238		13	%		60	%		983		420		134	%
Dividends on preferred stock		8		9		63		(11	%)		(87	%)		194		187		4	%
Net income available to common shareholders	$	373	$	328	$	175		14	%		112	%	$	789	$	233		239	%

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	September		June		March		December		September
	2011		2011		2011		2010		2010
Interest Income
Interest and fees on loans and leases	$	899	$	893	$	910	$	950	$	962
Interest on securities		155		151		149		152		161
Interest on other short-term investments		1		1		1		2		3
Total interest income		1,055		1,045		1,060		1,104		1,126
Taxable equivalent adjustment		4		5		5		5		4
Total interest income (taxable equivalent)		1,059		1,050		1,065		1,109		1,130
Interest Expense
Interest on deposits		84		97		106		118		141
Interest on short-term borrowings		1		1		1		1		1
Interest on long-term debt		72		83		74		71		72
Total interest expense		157		181		181		190		214
Net interest income (taxable equivalent)		902		869		884		919		916
Provision for loan and lease losses		87		113		168		166		457
Net interest income (taxable equivalent) after provision for loan and lease losses		815		756		716		753		459
Noninterest Income
Service charges on deposits		134		126		124		140		143
Corporate banking revenue		87		95		86		103		86
Mortgage banking net revenue		178		162		102		149		232
Investment advisory revenue		92		95		98		93		90
Card and processing revenue		78		89		80		81		77
Other noninterest income		64		83		81		55		195
Securities gains, net		26		6		8		21		4
Securities gains, net - non-qualifying hedges on mortgage servicing rights		6		—		5		14		—
Total noninterest income		665		656		584		656		827
Noninterest Expense
Salaries, wages and incentives		369		365		351		385		360
Employee benefits		70		79		97		73		82
Net occupancy expense		75		75		77		76		72
Technology and communications		48		48		45		52		48
Equipment expense		28		28		29		32		30
Card and processing expense		34		29		29		26		26
Other noninterest expense		322		277		290		343		361
Total noninterest expense		946		901		918		987		979
Income before income taxes (taxable equivalent)		534		511		382		422		307
Taxable equivalent adjustment		4		5		5		5		4
Income before income taxes		530		506		377		417		303
Applicable income taxes		149		169		112		83		65
Net Income		381		337		265		334		238
Less: Net Income attributable to noncontrolling interest		—		—		—		1		—
Net income attributable to Bancorp		381		337		265		333		238
Dividends on preferred stock		8		9		177		63		63
Net income available to common shareholders	$	373	$	328	$	88	$	270	$	175

21

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of									% Change
	September 2011			June 2011			September 2010			Seq			Yr/Yr
Assets
Cash and due from banks	$	2,348		$	2,380		$	2,215			(1	%)		6	%
Available-for-sale and other securities (a)		16,227			15,502			15,975			5	%		2	%
Held-to-maturity securities (b)		337			344			354			(2	%)		(5	%)
Trading securities		189			217			320			(13	%)		(41	%)
Other short-term investments		2,028			1,370			3,271			48	%		(38	%)
Loans held for sale		1,840			1,185			2,733			55	%		(33	%)
Portfolio loans and leases:
Commercial and industrial loans		29,258			28,099			26,302			4	%		11	%
Commercial mortgage loans		9,862			10,233			10,985			(4	%)		(10	%)
Commercial construction loans		1,681			1,778			2,349			(5	%)		(28	%)
Commercial leases		3,368			3,326			3,304			1	%		2	%
Residential mortgage loans		10,249			9,849			7,975			4	%		29	%
Home equity		10,920			11,048			11,774			(1	%)		(7	%)
Automobile loans		11,593			11,315			10,738			2	%		8	%
Credit card		1,878			1,856			1,832			1	%		3	%
Other consumer loans and leases		407			463			750			(12	%)		(46	%)
Portfolio loans and leases		79,216			77,967			76,009			2	%		4	%
Allowance for loan and lease losses		(2,439	)		(2,614	)		(3,194	)		(7	%)		(24	%)
Portfolio loans and leases, net		76,777			75,353			72,815			2	%		5	%
Bank premises and equipment		2,410			2,395			2,377			1	%		1	%
Operating lease equipment		462			492			470			(6	%)		(2	%)
Goodwill		2,417			2,417			2,417			—			—
Intangible assets		45			49			72			(10	%)		(38	%)
Servicing rights		662			847			599			(22	%)		11	%
Other assets		9,163			8,254			8,704			11	%		5	%
Total assets	$	114,905		$	110,805		$	112,322			4	%		2	%
Liabilities
Deposits:
Demand	$	24,547		$	22,589		$	20,109			9	%		22	%
Interest checking		18,616			18,072			17,225			3	%		8	%
Savings		21,673			21,764			20,260			—			7	%
Money market		5,448			4,859			5,064			12	%		8	%
Foreign office		3,139			3,271			3,807			(4	%)		(18	%)
Other time		5,439			6,399			9,379			(15	%)		(42	%)
Certificates - $100,000 and over		3,092			3,642			5,515			(15	%)		(44	%)
Other		93			2			3			NM			NM
Total deposits		82,047			80,598			81,362			2	%		1	%
Federal funds purchased		427			403			368			6	%		16	%
Other short-term borrowings		4,894			2,702			1,775			81	%		176	%
Accrued taxes, interest and expenses		1,307			1,067			869			23	%		50	%
Other liabilities		3,372			3,282			3,082			3	%		9	%
Long-term debt		9,800			10,152			10,953			(3	%)		(11	%)
Total liabilities		101,847			98,204			98,409			4	%		3	%
Equity
Common stock		2,051			2,051			1,779			—			15	%
Preferred stock		398			398			3,642			—			(89	%)
Capital surplus		2,780			2,769			1,707			—			63	%
Retained earnings		7,323			7,024			6,456			4	%		13	%
Accumulated other comprehensive income		542			396			432			37	%		25	%
Treasury stock		(65	)		(66	)		(132	)		(1	%)		(51	%)
Total Bancorp shareholders’ equity		13,029			12,572			13,884			4	%		(6	%)
Noncontrolling interest		29			29			29			—			—
Total Equity		13,058			12,601			13,913			4	%		(6	%)
Total liabilities and equity	$	114,905		$	110,805		$	112,322			4	%		2	%
(a) Amortized cost	$	15,427		$	14,889		$	15,308			4	%		1	%
(b) Market values		337			344			354			(2	%)		(5	%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000			—			—
Outstanding, excluding treasury		919,779			919,818			796,283			—			16	%
Treasury		4,114			4,074			5,221			1	%		(21	%)

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	September 2011			June 2011			March 2011			December 2010			September 2010
Assets
Cash and due from banks	$	2,348		$	2,380		$	2,121		$	2,159		$	2,215
Available-for-sale and other securities (a)		16,227			15,502			15,135			15,414			15,975
Held-to-maturity securities (b)		337			344			346			353			354
Trading securities		189			217			216			294			320
Other short-term investments		2,028			1,370			2,481			1,515			3,271
Loans held for sale		1,840			1,185			1,291			2,216			2,733
Portfolio loans and leases:
Commercial and industrial loans		29,258			28,099			27,344			27,191			26,302
Commercial mortgage loans		9,862			10,233			10,510			10,845			10,985
Commercial construction loans		1,681			1,778			1,980			2,048			2,349
Commercial leases		3,368			3,326			3,367			3,378			3,304
Residential mortgage loans		10,249			9,849			9,530			8,956			7,975
Home equity		10,920			11,048			11,222			11,513			11,774
Automobile loans		11,593			11,315			11,129			10,983			10,738
Credit card		1,878			1,856			1,821			1,896			1,832
Other consumer loans and leases		407			463			562			681			750
Portfolio loans and leases		79,216			77,967			77,465			77,491			76,009
Allowance for loan and lease losses		(2,439	)		(2,614	)		(2,805	)		(3,004	)		(3,194	)
Portfolio loans and leases, net		76,777			75,353			74,660			74,487			72,815
Bank premises and equipment		2,410			2,395			2,389			2,389			2,377
Operating lease equipment		462			492			513			479			470
Goodwill		2,417			2,417			2,417			2,417			2,417
Intangible assets		45			49			55			62			72
Servicing rights		662			847			894			822			599
Other assets		9,163			8,254			7,967			8,400			8,704
Total assets	$	114,905		$	110,805		$	110,485		$	111,007		$	112,322
Liabilities
Deposits:
Demand	$	24,547		$	22,589		$	22,066		$	21,413		$	20,109
Interest checking		18,616			18,072			18,597			18,560			17,225
Savings		21,673			21,764			21,697			20,903			20,260
Money market		5,448			4,859			5,184			5,035			5,064
Foreign office		3,139			3,271			3,569			3,721			3,807
Other time		5,439			6,399			7,043			7,728			9,379
Certificates - $100,000 and over		3,092			3,642			4,160			4,287			5,515
Other		93			2			1			1			3
Total deposits		82,047			80,598			82,317			81,648			81,362
Federal funds purchased		427			403			332			279			368
Other short-term borrowings		4,894			2,702			1,297			1,574			1,775
Accrued taxes, interest and expenses		1,307			1,067			844			889			869
Other liabilities		3,372			3,282			2,948			2,979			3,082
Long-term debt		9,800			10,152			10,555			9,558			10,953
Total liabilities		101,847			98,204			98,293			96,927			98,409
Equity
Common stock		2,051			2,051			2,051			1,779			1,779
Preferred stock		398			398			398			3,654			3,642
Capital surplus		2,780			2,769			2,824			1,715			1,707
Retained earnings		7,323			7,024			6,752			6,719			6,456
Accumulated other comprehensive income		542			396			263			314			432
Treasury stock		(65	)		(66	)		(125	)		(130	)		(132	)
Total Bancorp shareholders’ equity		13,029			12,572			12,163			14,051			13,884
Noncontrolling interest		29			29			29			29			29
Total Equity		13,058			12,601			12,192			14,080			13,913
Total liabilities and equity	$	114,905		$	110,805		$	110,485		$	111,007		$	112,322
(a) Amortized cost	$	15,427		$	14,889		$	14,707		$	14,919		$	15,308
(b) Market values		337			344			346			353			354
(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		919,779			919,818			918,728			796,273			796,283
Treasury		4,114			4,074			5,165			5,232			5,221

23

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	September 2011			September 2010			September 2011			September 2010
Total equity, beginning	$	12,601		$	13,701		$	14,080		$	13,497
Net income attributable to Bancorp		381			238			983			420
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		121			2			198			217
Qualifying cash flow hedges		23			(11	)		24			(31	)
Change in accumulated other comprehensive income related to employee benefit plans		2			2			6			6
Comprehensive income		527			231			1,211			612
Cash dividends declared:
Common stock		(74	)		(8	)		(184	)		(24	)
Preferred stock		(8	)		(52	)		(41	)		(154	)
Issuance of common stock		—			—			1,648			—
TARP repayment		—			—			(3,408	)		—
Stock-based awards exercised, including treasury shares issued		—			—			1			(4	)
Loans repaid (issued) related to exercise of stock-based awards, net		—			—			1			—
Redemption of preferred stock warrants issued under TARP CPP		—			—			(280	)		—
Stock-based compensation expense		12			12			30			33
Impact of cumulative effect of change in accounting principle		—			—			—			(77	)
Total equity, ending	$	13,058		$	13,913		$	13,058		$	13,913

24

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended									% Change
	September 2011			June 2011			September 2010			Seq			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	28,824		$	27,970		$	26,348			3	%		9	%
Commercial mortgage loans		10,140			10,491			11,462			(3	%)		(12	%)
Commercial construction loans		1,777			1,950			2,955			(9	%)		(40	%)
Commercial leases		3,300			3,349			3,257			(1	%)		1	%
Residential mortgage loans		11,224			10,655			9,897			5	%		13	%
Home equity		10,985			11,144			11,897			(1	%)		(8	%)
Automobile loans		11,445			11,188			10,517			2	%		9	%
Credit card		1,864			1,834			1,838			2	%		1	%
Other consumer loans and leases		454			572			683			(21	%)		(34	%)
Taxable securities		15,790			15,115			15,580			4	%		1	%
Tax exempt securities		64			96			273			(34	%)		(77	%)
Other short-term investments		2,288			1,981			3,456			16	%		(34	%)
Total interest-earning assets		98,155			96,345			98,163			2	%		—
Cash and due from banks		2,362			2,356			2,283			—			3	%
Other assets		15,381			15,298			15,088			1	%		2	%
Allowance for loan and lease losses		(2,603	)		(2,799	)		(3,680	)		(7	%)		(29	%)
Total assets	$	113,295		$	111,200		$	111,854			2	%		1	%
Liabilities
Interest-bearing liabilities:
Interest checking	$	18,322		$	18,701		$	17,142			(2	%)		7	%
Savings		21,747			21,817			19,905			—			9	%
Money market		5,213			5,009			4,940			4	%		6	%
Foreign office		3,255			3,805			3,592			(14	%)		(9	%)
Other time		6,008			6,738			10,261			(11	%)		(41	%)
Certificates - $100,000 and over		3,376			3,955			6,096			(15	%)		(45	%)
Other		7			2			4			192	%		65	%
Federal funds purchased		376			344			302			10	%		25	%
Other short-term borrowings		4,033			1,605			1,880			151	%		115	%
Long-term debt		10,136			10,527			10,954			(4	%)		(7	%)
Total interest-bearing liabilities		72,473			72,503			75,076			—			(3	%)
Demand deposits		23,677			22,174			19,362			7	%		22	%
Other liabilities		4,275			4,129			3,544			4	%		21	%
Total liabilities		100,425			98,806			97,982			2	%		2	%
Equity		12,870			12,394			13,872			4	%		(7	%)
Total liabilities and equity	$	113,295		$	111,200		$	111,854			2	%		1	%
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		4.29	%		4.35	%		4.81	%
Commercial mortgage loans		3.94	%		4.00	%		3.97	%
Commercial construction loans		3.02	%		3.01	%		3.06	%
Commercial leases		3.87	%		4.06	%		4.34	%
Residential mortgage loans		4.47	%		4.54	%		4.81	%
Home equity		3.89	%		3.91	%		3.99	%
Automobile loans		4.52	%		4.81	%		5.71	%
Credit card		9.49	%		9.91	%		10.70	%
Other consumer loans and leases		30.76	%		22.02	%		18.59	%
Total loans and leases		4.48	%		4.54	%		4.85	%
Taxable securities		3.88	%		3.97	%		4.06	%
Tax exempt securities		5.84	%		6.41	%		4.05	%
Other short-term investments		0.25	%		0.25	%		0.36	%
Total interest-earning assets		4.28	%		4.37	%		4.57	%
Interest-bearing liabilities:
Interest checking		0.25	%		0.26	%		0.29	%
Savings		0.25	%		0.33	%		0.48	%
Money market		0.27	%		0.29	%		0.39	%
Foreign office		0.26	%		0.29	%		0.38	%
Other time		2.27	%		2.40	%		2.57	%
Certificates - $100,000 and over		2.09	%		2.05	%		1.95	%
Other		0.03	%		0.02	%		0.09	%
Federal funds purchased		0.10	%		0.11	%		0.17	%
Other short-term borrowings		0.10	%		0.16	%		0.21	%
Long-term debt		2.85	%		3.16	%		2.61	%
Total interest-bearing liabilities		0.86	%		1.00	%		1.13	%
Ratios:
Net interest margin (taxable equivalent)		3.65	%		3.62	%		3.70	%
Net interest rate spread (taxable equivalent)		3.42	%		3.37	%		3.44	%
Interest-bearing liabilities to interest-earning assets		73.83	%		75.25	%		76.48	%

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date						% Change
	September 2011			September 2010			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	28,071		$	26,276			7	%
Commercial mortgage loans		10,480			11,689			(10	%)
Commercial construction loans		1,936			3,328			(42	%)
Commercial leases		3,337			3,353			—
Residential mortgage loans		10,873			9,590			13	%
Home equity		11,167			12,111			(8	%)
Automobile loans		11,236			10,292			9	%
Credit card		1,850			1,879			(2	%)
Other consumer loans and leases		567			744			(24	%)
Taxable securities		15,356			16,285			(6	%)
Tax exempt securities		119			333			(64	%)
Other short-term investments		2,070			3,630			(43	%)
Total interest-earning assets		97,062			99,510			(2	%)
Cash and due from banks		2,329			2,231			4	%
Other assets		15,194			14,636			4	%
Allowance for loan and lease losses		(2,796	)		(3,749	)		(25	%)
Total assets	$	111,789		$	112,628			(1	%)
Liabilities
Interest-bearing liabilities:
Interest checking	$	18,520		$	18,433			—
Savings		21,631			19,279			12	%
Money market		5,120			4,748			8	%
Foreign office		3,546			3,228			10	%
Other time		6,698			11,212			(40	%)
Certificates - $100,000 and over		3,849			6,496			(41	%)
Other		3			6			(39	%)
Federal funds purchased		344			262			31	%
Other short-term borrowings		2,434			1,604			52	%
Long-term debt		10,304			11,105			(7	%)
Total interest-bearing liabilities		72,449			76,373			(5	%)
Demand deposits		22,485			19,199			17	%
Other liabilities		4,074			3,404			20	%
Total liabilities		99,008			98,976			—
Equity		12,781			13,652			(6	%)
Total liabilities and equity	$	111,789		$	112,628			(1	%)
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		4.36	%		4.72	%
Commercial mortgage loans		4.02	%		4.09	%
Commercial construction loans		3.06	%		3.04	%
Commercial leases		4.04	%		4.46	%
Residential mortgage loans		4.56	%		4.92	%
Home equity		3.92	%		4.01	%
Automobile loans		4.80	%		5.98	%
Credit card		9.94	%		10.79	%
Other consumer loans and leases		23.01	%		14.54	%
Total loans and leases		4.56	%		4.86	%
Taxable securities		3.94	%		4.10	%
Tax exempt securities		5.41	%		3.82	%
Other short-term investments		0.25	%		0.25	%
Total interest-earning assets		4.37	%		4.57	%
Interest-bearing liabilities:
Interest checking		0.27	%		0.29	%
Savings		0.34	%		0.58	%
Money market		0.29	%		0.42	%
Foreign office		0.29	%		0.36	%
Other time		2.35	%		2.68	%
Certificates - $100,000 and over		2.04	%		2.08	%
Other		0.03	%		0.06	%
Federal funds purchased		0.12	%		0.16	%
Other short-term borrowings		0.14	%		0.22	%
Long-term debt		2.98	%		2.63	%
Total interest-bearing liabilities		0.96	%		1.22	%
Ratios:
Net interest margin (taxable equivalent)		3.66	%		3.63	%
Net interest rate spread (taxable equivalent)		3.41	%		3.35	%
Interest-bearing liabilities to interest-earning assets		74.64	%		76.75	%

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	September 2011			June 2011			March 2011			December 2010			September 2010
Assets
Interest-earning assets:
Commercial and industrial loans	$	28,824		$	27,970		$	27,404		$	26,509		$	26,348
Commercial mortgage loans		10,140			10,491			10,816			11,276			11,462
Commercial construction loans		1,777			1,950			2,085			2,289			2,955
Commercial leases		3,300			3,349			3,364			3,314			3,257
Residential mortgage loans		11,224			10,655			10,736			10,693			9,897
Home equity		10,985			11,144			11,376			11,655			11,897
Automobile loans		11,445			11,188			11,070			10,825			10,517
Credit card		1,864			1,834			1,852			1,844			1,838
Other consumer loans and leases		454			572			676			743			683
Taxable securities		15,790			15,115			15,156			15,367			15,580
Tax exempt securities		64			96			197			268			273
Other short-term investments		2,288			1,981			1,937			2,431			3,456
Total interest-earning assets		98,155			96,345			96,669			97,214			98,163
Cash and due from banks		2,362			2,356			2,268			2,284			2,283
Other assets		15,381			15,298			14,897			15,449			15,088
Allowance for loan and lease losses		(2,603	)		(2,799	)		(2,990	)		(3,089	)		(3,680	)
Total assets	$	113,295		$	111,200		$	110,844		$	111,858		$	111,854
Liabilities
Interest-bearing liabilities:
Interest checking	$	18,322		$	18,701		$	18,539		$	17,578		$	17,142
Savings		21,747			21,817			21,324			20,602			19,905
Money market		5,213			5,009			5,136			4,985			4,940
Foreign office		3,255			3,805			3,580			3,733			3,592
Other time		6,008			6,738			7,363			8,490			10,261
Certificates - $100,000 and over		3,376			3,955			4,226			4,858			6,096
Other		7			2			1			9			4
Federal funds purchased		376			344			310			376			302
Other short-term borrowings		4,033			1,605			1,638			1,728			1,880
Long-term debt		10,136			10,527			10,255			10,298			10,954
Total interest-bearing liabilities		72,473			72,503			72,372			72,657			75,076
Demand deposits		23,677			22,174			21,582			21,066			19,362
Other liabilities		4,275			4,129			3,809			4,099			3,544
Total liabilities		100,425			98,806			97,763			97,822			97,982
Equity		12,870			12,394			13,081			14,036			13,872
Total liabilities and equity	$	113,295		$	111,200		$	110,844		$	111,858		$	111,854
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		4.29	%		4.35	%		4.45	%		4.64	%		4.81	%
Commercial mortgage loans		3.94	%		4.00	%		4.11	%		4.17	%		3.97	%
Commercial construction loans		3.02	%		3.01	%		3.15	%		2.90	%		3.06	%
Commercial leases		3.87	%		4.06	%		4.17	%		4.21	%		4.34	%
Residential mortgage loans		4.47	%		4.54	%		4.67	%		4.64	%		4.81	%
Home equity		3.89	%		3.91	%		3.96	%		3.98	%		3.99	%
Automobile loans		4.52	%		4.81	%		5.10	%		5.41	%		5.71	%
Credit card		9.49	%		9.91	%		10.43	%		10.55	%		10.70	%
Other consumer loans and leases		30.76	%		22.02	%		18.54	%		18.68	%		18.59	%
Total loans and leases		4.48	%		4.54	%		4.67	%		4.78	%		4.85	%
Taxable securities		3.88	%		3.97	%		3.96	%		3.88	%		4.06	%
Tax exempt securities		5.84	%		6.41	%		4.77	%		4.27	%		4.05	%
Other short-term investments		0.25	%		0.25	%		0.25	%		0.25	%		0.36	%
Total interest-earning assets		4.28	%		4.37	%		4.47	%		4.52	%		4.57	%
Interest-bearing liabilities:
Interest checking		0.25	%		0.26	%		0.28	%		0.28	%		0.29	%
Savings		0.25	%		0.33	%		0.43	%		0.45	%		0.48	%
Money market		0.27	%		0.29	%		0.32	%		0.34	%		0.39	%
Foreign office		0.26	%		0.29	%		0.31	%		0.34	%		0.38	%
Other time		2.27	%		2.40	%		2.36	%		2.39	%		2.57	%
Certificates - $100,000 and over		2.09	%		2.05	%		1.99	%		1.94	%		1.95	%
Other		0.03	%		0.02	%		0.05	%		0.26	%		0.09	%
Federal funds purchased		0.10	%		0.11	%		0.14	%		0.19	%		0.17	%
Other short-term borrowings		0.10	%		0.16	%		0.19	%		0.19	%		0.21	%
Long-term debt		2.85	%		3.16	%		2.95	%		2.72	%		2.61	%
Total interest-bearing liabilities		0.86	%		1.00	%		1.02	%		1.04	%		1.13	%
Ratios:
Net interest margin (taxable equivalent)		3.65	%		3.62	%		3.71	%		3.75	%		3.70	%
Net interest rate spread (taxable equivalent)		3.42	%		3.37	%		3.45	%		3.48	%		3.44	%
Interest-bearing liabilities to interest-earning assets		73.83	%		75.25	%		74.87	%		74.74	%		76.48	%

27

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	September 2011		June 2011		March 2011		December 2010		September 2010
Average Loans and Leases
Commercial:
Commercial and industrial loans	$	28,777	$	27,909	$	27,331	$	26,338	$	26,344
Commercial mortgage loans		10,050		10,394		10,685		10,985		11,375
Commercial construction loans		1,752		1,918		2,030		2,171		2,885
Commercial leases		3,300		3,349		3,364		3,314		3,257
Subtotal - commercial		43,879		43,570		43,410		42,808		43,861
Consumer:
Residential mortgage loans		10,006		9,654		9,282		8,382		7,837
Home equity		10,985		11,144		11,376		11,655		11,897
Automobile loans		11,445		11,188		11,070		10,825		10,517
Credit card		1,864		1,834		1,852		1,844		1,838
Other consumer loans and leases		441		547		646		722		667
Subtotal - consumer		34,741		34,367		34,226		33,428		32,756
Total average loans and leases (excluding held for sale)	$	78,620	$	77,937	$	77,636	$	76,236	$	76,617
Average loans held for sale		1,393		1,216		1,743		2,912		2,237
End of Period Loans and Leases
Commercial:
Commercial and industrial loans	$	29,258	$	28,099	$	27,344	$	27,191	$	26,302
Commercial mortgage loans		9,862		10,233		10,510		10,845		10,985
Commercial construction loans		1,681		1,778		1,980		2,048		2,349
Commercial leases		3,368		3,326		3,367		3,378		3,304
Subtotal - commercial		44,169		43,436		43,201		43,462		42,940
Consumer:
Residential mortgage loans		10,249		9,849		9,530		8,956		7,975
Home equity		10,920		11,048		11,222		11,513		11,774
Automobile loans		11,593		11,315		11,129		10,983		10,738
Credit card		1,878		1,856		1,821		1,896		1,832
Other consumer loans and leases		407		463		562		681		750
Subtotal - consumer		35,047		34,531		34,264		34,029		33,069
Total portfolio loans and leases	$	79,216	$	77,967	$	77,465	$	77,491	$	76,009
Core business activity		1,643		1,009		1,076		1,922		2,034
Portfolio management activity		197		176		216		294		699
Total loans held for sale		1,840		1,185		1,291		2,216		2,733
Operating lease equipment		462		492		513		479		470
Loans and Leases Serviced for Others (a):
Commercial and industrial loans		640		602		547		490		452
Commercial mortgage loans		301		304		328		337		335
Commercial construction loans		67		67		56		55		55
Commercial leases		94		104		118		125		133
Residential mortgage loans		56,483		56,026		55,447		54,234		52,433
Home equity		—		—		—		—		—
Automobile loans		—		—		—		—		—
Credit card		—		—		—		—		—
Other consumer loans and leases		—		—		—		—		—
Total loans and leases serviced for others		57,585		57,103		56,496		55,241		53,408
Total loans and leases serviced	$	139,103	$	136,747	$	135,765	$	135,427	$	132,620

(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
	September 2011			June 2011			March 2011			December 2010			September 2010
Tier I capital:
Bancorp shareholders’ equity	$	13,029		$	12,572		$	12,163		$	14,051		$	13,884
Goodwill and certain other intangibles		(2,514	)		(2,536	)		(2,546	)		(2,546	)		(2,525	)
Unrealized (gains) losses		(542	)		(396	)		(263	)		(314	)		(432	)
Qualifying trust preferred securities		2,273			2,312			2,763			2,763			2,763
Other		20			20			12			11			8
Total tier I capital	$	12,266		$	11,972		$	12,129		$	13,965		$	13,698
Total risk-based capital:
Tier I capital	$	12,266		$	11,972		$	12,129		$	13,965		$	13,698
Qualifying allowance for credit losses		1,299			1,275			1,266			1,283			1,265
Qualifying subordinated notes		3,098			2,837			2,780			2,930			3,114
Total risk-based capital	$	16,663		$	16,084		$	16,175		$	18,178		$	18,077
Risk-weighted assets (b)	$	102,562		$	100,320		$	99,392		$	100,561		$	98,904
Ratios:
Average shareholders’ equity to average assets		11.33	%		11.12	%		11.77	%		12.52	%		12.38	%
Regulatory capital:
Fifth Third Bancorp
Tier I capital		11.96	%		11.93	%		12.20	%		13.89	%		13.85	%
Total risk-based capital		16.25	%		16.03	%		16.27	%		18.08	%		18.28	%
Tier I leverage		11.08	%		11.03	%		11.21	%		12.79	%		12.54	%
Tier I common equity		9.33	%		9.20	%		8.99	%		7.48	%		7.34	%
Fifth Third Bank
Tier I capital		12.32	%		13.26	%		13.61	%		13.13	%		14.48	%
Total risk-based capital		14.18	%		15.13	%		15.49	%		15.12	%		16.49	%
Tier I leverage		11.40	%		12.25	%		12.49	%		12.08	%		13.10	%
Tier I common equity		12.32	%		13.26	%		13.61	%		13.13	%		14.48	%

(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 by 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
	September 2011			June 2011			March 2011			December 2010			September 2010
Average loans and leases (excluding held for sale):
Commercial and industrial loans	$	28,777		$	27,909		$	27,331		$	26,338		$	26,344
Commercial mortgage loans		10,050			10,394			10,685			10,985			11,375
Commercial construction loans		1,752			1,918			2,030			2,171			2,885
Commercial leases		3,300			3,349			3,364			3,314			3,257
Residential mortgage loans		10,006			9,654			9,282			8,382			7,837
Home equity		10,985			11,144			11,376			11,655			11,897
Automobile loans		11,445			11,188			11,070			10,825			10,517
Credit card		1,864			1,834			1,852			1,844			1,838
Other consumer loans and leases		441			547			646			722			667
Total average loans and leases (excluding held for sale)	$	78,620		$	77,937		$	77,636		$	76,236		$	76,617
Losses charged off:
Commercial and industrial loans		($62	)		($86	)		($90	)		($98	)		($247	)
Commercial mortgage loans		(49	)		(51	)		(58	)		(83	)		(271	)
Commercial construction loans		(35	)		(21	)		(27	)		(15	)		(126	)
Commercial leases		—			—			(1	)		(1	)		(1	)
Residential mortgage loans		(38	)		(37	)		(67	)		(63	)		(205	)
Home equity		(56	)		(58	)		(66	)		(68	)		(69	)
Automobile loans		(19	)		(18	)		(28	)		(28	)		(27	)
Credit card		(26	)		(31	)		(33	)		(35	)		(38	)
Other consumer loans and leases		(9	)		(41	)		(27	)		(8	)		(8	)
Total losses		(294	)		(343	)		(397	)		(399	)		(992	)
Recoveries of losses previously charged off:
Commercial and industrial loans		7			10			7			13			10
Commercial mortgage loans		2			4			4			3			3
Commercial construction loans		—			1			1			4			5
Commercial leases		1			2			—			4			—
Residential mortgage loans		2			1			2			1			1
Home equity		3			4			3			3			3
Automobile loans		7			10			8			9			10
Credit card		8			3			2			2			2
Other consumer loans and leases		2			4			3			4			2
Total recoveries		32			39			30			43			36
Net losses charged off:
Commercial and industrial loans		(55	)		(76	)		(83	)		(85	)		(237	)
Commercial mortgage loans		(47	)		(47	)		(54	)		(80	)		(268	)
Commercial construction loans		(35	)		(20	)		(26	)		(11	)		(121	)
Commercial leases		1			2			(1	)		3			(1	)
Residential mortgage loans		(36	)		(36	)		(65	)		(62	)		(204	)
Home equity		(53	)		(54	)		(63	)		(65	)		(66	)
Automobile loans		(12	)		(8	)		(20	)		(19	)		(17	)
Credit card		(18	)		(28	)		(31	)		(33	)		(36	)
Other consumer loans and leases		(7	)		(37	)		(24	)		(4	)		(6	)
Total net losses charged off		($262	)		($304	)		($367	)		($356	)		($956	)
Net charge-off Ratios:
Commercial and industrial loans		0.76	%		1.10	%		1.22	%		1.27	%		3.57	%
Commercial mortgage loans		1.86	%		1.83	%		2.04	%		2.86	%		9.34	%
Commercial construction loans		7.90	%		4.09	%		5.24	%		1.88	%		16.58	%
Commercial leases		(0.12	%)		(0.25	%)		0.04	%		(0.34	%)		0.10	%
Residential mortgage loans		1.41	%		1.50	%		2.82	%		2.93	%		10.37	%
Home equity		1.89	%		1.94	%		2.23	%		2.20	%		2.19	%
Automobile loans		0.41	%		0.29	%		0.73	%		0.68	%		0.65	%
Credit card		3.86	%		6.08	%		6.60	%		7.12	%		7.68	%
Other consumer loans and leases		6.67	%		26.47	%		17.16	%		4.09	%		3.88	%
Total net charge-off ratio		1.32	%		1.56	%		1.92	%		1.86	%		4.95	%

30

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	September 2011			June 2011			March 2011			December 2010			September 2010
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	2,614		$	2,805		$	3,004		$	3,194		$	3,693
Total net losses charged off		(262	)		(304	)		(367	)		(356	)		(956	)
Provision for loan and lease losses		87			113			168			166			457
Allowance for loan and lease losses, ending	$	2,439		$	2,614		$	2,805		$	3,004		$	3,194
Reserve for unfunded commitments, beginning	$	197		$	211		$	227		$	231		$	254
Provision for unfunded commitments		(10	)		(14	)		(16	)		(4	)		(23	)
Reserve for unfunded commitments, ending	$	187		$	197		$	211		$	227		$	231
Components of allowance for credit losses:
Allowance for loan and lease losses	$	2,439		$	2,614		$	2,805		$	3,004		$	3,194
Reserve for unfunded commitments		187			197			211			227			231
Total allowance for credit losses	$	2,626		$	2,811		$	3,016		$	3,231		$	3,425
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	449		$	485		$	477		$	473		$	525
Commercial mortgage loans		353			417			415			407			464
Commercial construction loans		151			147			159			182			211
Commercial leases		13			16			11			11			30
Residential mortgage loans		142			145			140			152			124
Home equity		25			26			24			23			23
Automobile loans		—			1			1			1			1
Other consumer loans and leases		1			3			60			84			—
Total nonaccrual portfolio loans and leases		1,134			1,240			1,287			1,333			1,378
Restructured loans and leases - commercial (non accrual)		189			188			149			141			31
Restructured loans and leases - consumer (non accrual)		215			211			209			206			175
Total nonperforming portfolio loans and leases		1,538			1,639			1,645			1,680			1,584
Repossessed property		17			15			20			27			29
Other real estate owned		389			434			461			467			469
Total nonperforming assets (a)		1,944			2,088			2,126			2,174			2,082
Nonaccrual loans held for sale		171			147			184			247			680
Restructured loans - commercial (non accrual) held for sale		26			29			32			47			19
Total nonperforming assets including loans held for sale	$	2,141		$	2,264		$	2,342		$	2,468		$	2,781
Restructured portfolio consumer loans and leases (accrual)	$	1,601		$	1,593		$	1,573		$	1,560		$	1,588
Restructured portfolio commercial loans and leases (accrual)	$	349		$	266		$	243		$	228		$	146
Ninety days past due loans and leases:
Commercial and industrial loans	$	9		$	7		$	8		$	16		$	29
Commercial mortgage loans		10			12			8			11			29
Commercial construction loans		43			48			23			3			5
Commercial leases		1			1			—			—			1
Total commercial loans and leases		63			68			39			30			64
Residential mortgage loans		91			87			98			100			111
Home equity		83			84			84			89			87
Automobile loans		9			10			9			13			13
Credit card		28			30			36			42			42
Other consumer loans and leases		—			—			—			—			—
Total consumer loans and leases		211			211			227			244			253
Total ninety days past due loans and leases	$	274		$	279		$	266		$	274		$	317
Ratios
Net losses charged off as a percent of average loans and leases		1.32	%		1.56	%		1.92	%		1.86	%		4.95	%
Allowance for loan and lease losses:
As a percent of loans and leases		3.08	%		3.35	%		3.62	%		3.88	%		4.20	%
As a percent of nonperforming loans and leases (a)		158	%		160	%		170	%		179	%		202	%
As a percent of nonperforming assets (a)		125	%		125	%		132	%		138	%		153	%
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		1.93	%		2.09	%		2.11	%		2.15	%		2.07	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		2.44	%		2.66	%		2.73	%		2.79	%		2.72	%
Nonperforming assets as a percent of total loans, leases and other assets, including other real estate owned		2.64	%		2.84	%		2.96	%		3.08	%		3.51	%

(a) Does not include nonaccrual loans held for sale

31

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

	For the Three Months Ended
	September 2011			June 2011			March 2011			December 2010			September 2010
Income before income taxes (U.S. GAAP)		530			506			377			417			303
Add: Provision expense (U.S. GAAP)		87			113			168			166			457
Pre-provision net revenue		617			619			545			583			760
Net income available to common shareholders (U.S. GAAP)		373			328			88			270			175
Add: Intangible amortization, net of tax		3			4			5			7			7
Tangible net income available to common shareholders		376			332			93			277			182
Tangible net income available to common shareholders (annualized) (a)		1,492			1,332			377			1,099			722
Average Bancorp shareholders’ equity (U.S. GAAP)		12,841			12,365			13,052			14,007			13,852
Less: Average preferred stock		398			398			1,557			3,648			3,637
Average goodwill		2,417			2,417			2,417			2,417			2,417
Average intangible assets		47			52			59			67			78
Average tangible common equity (b)		9,979			9,498			9,019			7,875			7,720
Total Bancorp shareholders’ equity (U.S. GAAP)		13,029			12,572			12,163			14,051			13,884
Less: Preferred stock		(398	)		(398	)		(398	)		(3,654	)		(3,642	)
Goodwill		(2,417	)		(2,417	)		(2,417	)		(2,417	)		(2,417	)
Intangible assets		(45	)		(49	)		(55	)		(62	)		(72	)
Tangible common equity, including unrealized gains / losses (c)		10,169			9,708			9,293			7,918			7,753
Less: Accumulated other comprehensive income / loss		(542	)		(396	)		(263	)		(314	)		(432	)
Tangible common equity, excluding unrealized gains / losses (d)		9,627			9,312			9,030			7,604			7,321
Add: Preferred stock		398			398			398			3,654			3,642
Tangible equity (e)		10,025			9,710			9,428			11,258			10,963
Total assets (U.S. GAAP)		114,905			110,805			110,485			111,007			112,322
Less: Goodwill		(2,417	)		(2,417	)		(2,417	)		(2,417	)		(2,417	)
Intangible assets		(45	)		(49	)		(55	)		(62	)		(72	)
Tangible assets, including unrealized gains / losses (f)		112,443			108,339			108,013			108,528			109,833
Less: Accumulated other comprehensive income / loss, before tax		(834	)		(609	)		(405	)		(483	)		(665	)
Tangible assets, excluding unrealized gains / losses (g)		111,609			107,730			107,608			108,045			109,168
Total Bancorp shareholders’ equity (U.S. GAAP)		13,029			12,572			12,163			14,051			13,884
Goodwill and certain other intangibles		(2,514	)		(2,536	)		(2,546	)		(2,546	)		(2,525	)
Unrealized gains		(542	)		(396	)		(263	)		(314	)		(432	)
Qualifying trust preferred securities		2,273			2,312			2,763			2,763			2,763
Other		20			20			12			11			8
Tier I capital		12,266			11,972			12,129			13,965			13,698
Less: Preferred stock		(398	)		(398	)		(398	)		(3,654	)		(3,642	)
Qualifying trust preferred securities		(2,273	)		(2,312	)		(2,763	)		(2,763	)		(2,763	)
Qualifying noncontrolling interest in consolidated subsidiaries		(30	)		(30	)		(30	)		(30	)		(30	)
Tier I common equity (h)		9,565			9,232			8,938			7,518			7,263
Unrealized gains		542
Disallowed deferred tax assets		—
Disallowed MSRs		64
Other		10
Less: 10% of individual deferred tax assets, MSRs, investment in financial entities		—
15% of aggregate deferred tax assets, MSRs, investment in financial entities		—
Tier I common equity, Basel III proforma (i)		10,181
Common shares outstanding (j)		920			920			919			796			796
Risk-weighted assets, determined in accordance with prescribed regulatory requirements (k)		102,562			100,320			99,392			100,561			98,904
Add: Regulatory deductions not deducted from Tier 1 common equity, risk-weighted at 250%		1,377
Risk-weighted assets, Basel III proforma (I)		103,939
Ratios:
Return on average tangible common equity (a) / (b)		14.95	%		14.02	%		4.18	%		13.95	%		9.35	%
Tangible equity (e) / (g)		8.98	%		9.01	%		8.76	%		10.42	%		10.04	%
Tangible common equity (excluding unrealized gains/losses) (d) / (g)		8.63	%		8.64	%		8.39	%		7.04	%		6.70	%
Tangible common equity (including unrealized gains/losses) (c) / (f)		9.04	%		8.96	%		8.60	%		7.30	%		7.06	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (d) / (k)		9.39	%		9.28	%		9.09	%		7.56	%		7.40	%
Tangible book value per share (c) / (j)		11.05			10.55			10.11			9.94			9.74
Tier I common equity (h) / (k)		9.33	%		9.20	%		8.99	%		7.48	%		7.34	%
Tier I common equity, Basel III proforma (i) / (I)		9.80	%

32

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended September 30, 2011	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		345			359			85			28			81			898
Provision for loan and lease losses		(104	)		(87	)		(55	)		(15	)		174			(87	)
Net interest income after provision for loan and lease losses		241			272			30			13			255			811
Total noninterest income		159			215			191			92			8			665
Total noninterest expense		(262	)		(399	)		(158	)		(105	)		(22	)		(946	)
Net income before taxes		138			88			63			—			241			530
Applicable income taxes (a)		(10	)		(31	)		(22	)		—			(86	)		(149	)
Net income		128			57			41			—			155			381
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		128			57			41			—			155			381
Dividends on preferred stock		—			—			—			—			8			8
Net income available to common shareholders		128			57			41			—			147			373

For the three months ended June 30, 2011	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		339			359			81			28			62			869
Provision for loan and lease losses		(147	)		(98	)		(55	)		(4	)		191			(113	)
Net interest income after provision for loan and lease losses		192			261			26			24			253			756
Total noninterest income		163			213			167			95			18			656
Total noninterest expense		(280	)		(393	)		(147	)		(104	)		23			(901	)
Net income before taxes		75			81			46			15			294			511
Applicable income taxes (a)		11			(29	)		(16	)		(5	)		(135	)		(174	)
Net income		86			52			30			10			159			337
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		86			52			30			10			159			337
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders		86			52			30			10			150			328

For the three months ended March 31, 2011	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		333			336			93			28			94			884
Provision for loan and lease losses		(152	)		(113	)		(97	)		(5	)		199			(168	)
Net interest income after provision for loan and lease losses		181			223			(4	)		23			293			716
Total noninterest income		175			201			116			98			(6	)		584
Total noninterest expense		(274	)		(392	)		(157	)		(107	)		12			(918	)
Net income before taxes		82			32			(45	)		14			299			382
Applicable income taxes (a)		7			(11	)		16			(5	)		(124	)		(117	)
Net income		89			21			(29	)		9			175			265
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		89			21			(29	)		9			175			265
Dividends on preferred stock		—			—			—			—			177			177
Net income available to common shareholders		89			21			(29	)		9			(2	)		88

For the three months ended December 31, 2010	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		390			357			108			29			35			919
Provision for loan and lease losses		(135	)		(117	)		(93	)		(11	)		190			(166	)
Net interest income after provision for loan and lease losses		255			240			15			18			225			753
Total noninterest income		170			225			159			90			12			656
Total noninterest expense		(266	)		(390	)		(157	)		(108	)		(66	)		(987	)
Net income before taxes		159			75			17			—			171			422
Applicable income taxes (a)		(17	)		(26	)		(6	)		—			(39	)		(88	)
Net income		142			49			11			—			132			334
Net income (loss) attributable to noncontrolling interest		—			—			—			—			1			1
Net income attributable to Bancorp		142			49			11			—			131			333
Dividends on preferred stock		—			—			—			—			63			63
Net income available to common shareholders		142			49			11			—			68			270

For the three months ended September 30, 2010	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)		389			381			105			35			6			916
Provision for loan and lease losses		(559	)		(150	)		(235	)		(12	)		499			(457	)
Net interest income after provision for loan and lease losses		(170	)		231			(130	)		23			505			459
Total noninterest income		139			227			225			88			148			827
Total noninterest expense		(246	)		(387	)		(146	)		(101	)		(99	)		(979	)
Net income (loss) before taxes		(277	)		71			(51	)		10			554			307
Applicable income taxes (a)		132			(25	)		18			(4	)		(190	)		(69	)
Net income (loss)		(145	)		46			(33	)		6			364			238
Net income (loss) attributable to noncontrolling interest		—			—			—			—			—			—
Net income (loss) attributable to Bancorp		(145	)		46			(33	)		6			364			238
Dividends on preferred stock		—			—			—			—			63			63
Net income (loss) available to common shareholders		(145	)		46			(33	)		6			301			175

(a) Includes taxable equivalent adjustments of $4 million for the three months ended September 30, 2011 and 2010, $5 million for the three months ended June 30, 2011, March 31, 2011 and December 31, 2010.

33

EX-99.2

3Q11 Earnings Conference Call

October 20, 2011

Please refer to earnings release dated October 20, 2011 for further information.

Exhibit 99.2

©

Fifth Third Bank | All Rights Reserved

2

©

Fifth Third Bank | All Rights Reserved

Cautionary statement

This report 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. 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, including the Dodd-Frank Wall Street Reform and Consumer

Protection Act; (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) difficulties in

separating Vantiv, LLC, formerly Fifth Third Processing Solutions from Fifth Third; (21) 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; (22) ability to secure confidential information through

the use of computer systems and telecommunications networks; and (23) 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.

3

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Fifth Third Bank | All Rights Reserved

3Q11 in review

Credit continuing to improve

•

Net charge-offs of $262mm (1.32% of loans and leases) declined

$42mm, or 14%, sequentially to lowest level since 4Q07

•

Total NPAs of $2.1B including held-for-sale declined $123mm or 5%

sequentially to lowest level since 2Q08 

•

Provision expense of $87mm, reduction in allowance of $175mm

•

Loan loss allowance 3.08% of loans; coverage 125% of NPAs, 158% of

NPLs, and 2.4x annualized third quarter net charge-offs

Actions driving progress

•

Focus on credit quality, portfolio management, and loss mitigation

strategies

•

Executing on customer experience and employee engagement

initiatives

•

Enhancing breadth and profitability of offerings and relationships

•

Exit from all crisis-era government programs

Continued strong operating results

•

Net income available to common shareholders of $373mm, or $0.40

per diluted share

•

Pre-provision net revenue^ of $617mm, flat sequentially

•

Period end loans and leases* up $1.2B (2%); average loans and

leases* up $683mm sequentially (1%)

•

1.3% ROA; 15% ROTCE^

•

Strong capital ratios: Tier 1 common 9.3%, Tier 1 capital ratio 12.0%,

Total capital ratio 16.3%**

•

Tangible book value per share^ growth 5% from 2Q11, 13% from 3Q10

^ Non-GAAP measure.  See Reg. G reconciliation on slides 34-35.

* Excluding loans held-for-sale

** Current period regulatory capital data ratios are estimated

4

©

Fifth Third Bank | All Rights Reserved

Financial summary

•

3Q11 earnings of $0.40 per diluted share driven by strong revenue and improved credit results

•

1.3% return on average assets; 15% return on average tangible common equity

•

Average transaction deposits up 1%; core deposits flat sequentially

•

Average loans* up 3% from 3Q10, reflecting strength in C&I and auto loans

Actual

Seq.

YOY 

($ in millions)

3Q10

2Q11

3Q11

$

%

$

%

Average

Balances

Commercial loans*

$43,861

$43,570

$309

1%

$18

-

Consumer loans*

32,756

34,367

34,741

374

1%

1,985

6%

Total loans & leases*

$76,617

$77,937

$78,620

$683

1%

$2,003

3%

Core deposits

$75,202

$78,244

$78,218

($26)

-

$3,016

4%

Income

Statement

Data

Net interest income (taxable equivalent)

$916

$869

$902

$33

4%

($14)

(2%)

Provision for loan and lease losses

457

113

87

(26)

(23%)

(370)

(81%)

Noninterest income

827

656

665

9

1%

(162)

(20%)

Noninterest expense

979

901

946

45

5%

(33)

(3%)

Net Income

$238

$337

$381

$44

13%

$143

60%

Net

income

available

to

common

shareholders

$175

$328

$373

$45

14%

$198

112%

Pre-provision net revenue^

$760

$619

$617

($2)

-

($143)

(19%)

Earnings per share, basic

$0.22

$0.36

$0.41

$0.05

14%

$0.19

86%

Earnings per share, diluted

$0.22

$0.35

$0.40

$0.05

14%

$0.18

82%

Net interest margin

3.70%

3.62%

3.65%

3bps

1%

(5bps)

(1%)

Return on average assets

0.84%

1.22%

1.34%

12bps

10%

50bps

60%

Return on average tangible common equity^

9.4%

14.0%

14.9%

90bps

6%

550bps

59%

^ Non-GAAP measure.  See Reg. G reconciliation on slides 34-35.

* Excluding loans held-for-sale

$43,879

5

Net interest income

•

Sequential net interest income trends reflected growth in C&I, residential mortgage, auto, and

bankcard loan balances, as well as securities balances, which offset lower yields on loans and

securities

–

NII up $33mm, or 4%, sequentially and down $14mm, or 2%, year-over-year

–

NIM up 3 bps sequentially and down 5 bps year-over-year

•

Yield on interest-earning assets declined 9 bps sequentially and 29 bps year-over-year

–

Investment of excess cash in bankers acceptances ($617mm, up $62mm sequentially)

reduced reported C&I loan yields by ~6 bps

* Represents purchase accounting adjustments included in net interest income.

($mm)

Yield Analysis

Interest-earning assets

3Q10

2Q11

3Q11

(bps)

(bps)

Commercial and industrial loans

4.81%

4.35%

4.29%

(6)

(52)

Commercial mortgage loans

3.97%

4.00%

3.94%

(6)

(3)

Commercial construction loans

3.06%

3.01%

3.02%

1

(4)

Commercial leases

4.34%

4.06%

3.87%

(19)

(47)

Residential mortgage loans

4.81%

4.54%

4.47%

(7)

(34)

Home equity

3.99%

3.91%

3.89%

(2)

(10)

Automobile loans

5.71%

4.81%

4.52%

(29)

(119)

Credit card

10.70%

9.91%

9.49%

(42)

(121)

Other consumer loans and leases  

18.59%

22.02%

30.76%

874

1217

Total loans and leases

4.85%

4.54%

4.48%

(6)

(37)

Taxable securities

4.06%

3.97%

3.88%

(9)

(18)

Tax exempt securities

4.05%

6.41%

5.84%

(57)

179

Other short-term investments

0.36%

0.25%

0.25%

-

(11)

Total interest-earning assets

4.57%

4.37%

4.28%

(9)

(29)

3.70%

3.75%

3.71%

3.62%

3.65%

$450

$550

$650

$750

$850

$950

3Q10

4Q10

1Q11

2Q11

3Q11

$916

$919

$884

$869

$902

NII and NIM (FTE)

Net Interest Income (right axis)

PAA*

NIM

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Fifth Third Bank | All Rights Reserved

2.0%

2.5%

3.0%

3.5%

4.0%

Seq.

YoY

Balance sheet

•

C&I loans up 3% sequentially and 9% from 3Q10

•

CRE loans down 4% sequentially and 17% from 3Q10

•

Consumer loans up 1% sequentially and 6% from 3Q10

•

Warehoused residential mortgage loans held-for-sale were $1.2B at

quarter end versus $1B at 2Q11

+1% QoQ;  +3% YoY

Flat QoQ; +4% YoY

•

Core deposit to loan ratio of 100%, up 1% from 3Q10

•

DDAs up 7% sequentially and 22% year-over-year

•

Retail average transaction deposits up 1% sequentially and 13%

from the previous year, driven by growth in demand deposit,

savings, MMDA, and interest checking account balances

•

Commercial average transaction deposits up 1% sequentially and

7% from the previous year

Average loan growth ($B)^

Average core deposit growth ($B)

Average wholesale funding ($B)

•

Reduced wholesale funding by $1.3B from 3Q10

–

Non-core deposits down 15% sequentially and 45% from 3Q10

–

Short term borrowings up 126% sequentially and 102% from

3Q10

–

Long-term debt down 4% sequentially and 7% from 3Q10

^ Excludes loans held-for-sale

Note: Numbers may not sum due to rounding

44

43

43

44

44

33

33

34

34

35

3Q10

4Q10

1Q11

2Q11

3Q11

Commercial Loans

Consumer Loans

78

79

19

21

22

22

24

42

43

45

46

45

14

12

11

11

9

3Q10

4Q10

1Q11

2Q11

3Q11

Demand

IBT/Savings/MMDA

Consumer CD/Core foreign

6

5

4

4

3

2

2

2

2

4

11

10

10

10

10

3Q10

4Q10

1Q11

2Q11

3Q11

LT debt

ST borrowings

Non-core deposits

77

76

78

18

17

16

16

75

76

78

78

78

6

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Fifth Third Bank | All Rights Reserved

19

7

Noninterest income

•

Noninterest income of $665mm increased $9mm, or 1%, from prior quarter; driven by securities gains,

higher mortgage banking net revenue, and service charges on deposits

•

3Q11 debit interchange revenue of $58mm

–

3Q11 debit interchange $ volume: $4.4B (Signature $3.4B, PIN $0.9B)

–

3Q11 debit interchange transaction volume: 121mm (Signature 97mm, PIN 24mm)

•

Credit costs recorded in noninterest income:

Noninterest income

Note: Numbers may not sum due to rounding

Actual

($ in millions)

3Q10

2Q11

3Q11

Gain / (loss) on sale of loans

($1)

$8

3

Commercial loans HFS FV adjustment

(9)

(9)

(6)

Gain / (loss) on sale of OREO properties

(29)

(26)

(21)

Mortgage repurchase costs

(4)

-

(2)

Total credit-related revenue impact

($44)

($28)

($25)

Actual

Seq.

YOY

3Q10

2Q11

3Q11

$

%

$

%

($ in millions)

Service charges on deposits

$143

$126

$134

$8

7%

($9)

(6%)

Corporate banking revenue

86

95

87

(8)

(8%)

1

1%

Mortgage banking net revenue

232

162

178

16

10%

(54)

(23%)

Investment advisory revenue

90

95

92

(3)

(3%)

2

2%

Card and processing revenue

77

89

78

(11)

(12%)

1

2%

Other noninterest income

195

83

64

(19)

(23%)

(131)

(67%)

Securities gains, net

4

6

26

20

333%

22

550%

Securities gains, net -

-

-

6

6

NM

6

NM

non-qualifying hedges on MSRs

Noninterest income

$827

$656

$665

$9

1%

($162)

(20%)

©

Fifth Third Bank | All Rights Reserved

8

Noninterest expense

Noninterest expense

Note: Numbers may not sum due to rounding

Actual

($ in millions)

3Q10

2Q11

3Q11

Mortgage repurchase expense

$45

$14

$19

Provision for unfunded commitments

(23)

(14)

(10)

Derivative valuation adjustments

8

1

4

OREO expense

9

6

7

Other problem asset related expenses

28

30

25

Total credit-related operating expenses

$67

$36

$45

©

Fifth Third Bank | All Rights Reserved

Actual

Seq. 

YOY

3Q10

2Q11

3Q11

$

%

$

%

($ in millions)

Salaries, wages and incentives

$360

$365

$369

$4

1%

$9

3%

Employee benefits

82

79

70

(9)

(12%)

(12)

(15%)

Net occupancy expense

72

75

75

-

-

3

3%

Technology and communications

48

48

48

-

-

-

-

Equipment expense

30

28

28

-

1%

(2)

(6%)

Card and processing expense

26

29

34

5

18%

8

33%

Other noninterest expense

361

277

322

45

16%

(39)

(11%)

Noninterest expense

$979

$901

$946

$45

5%

($33)

(3%)

•

Noninterest expense of $946mm increased from unusually low 2Q11 levels, largely due to $28mm in costs related to

the termination of certain FHLB borrowings and hedging transactions

•

Credit costs recorded in noninterest expense:

9

Pre-tax pre-provision earnings*

PPNR trend

•

PPNR of $617mm flat from 2Q11 levels and down 19% over prior year; prior year comparison

driven by lower mortgage banking revenue and the 3Q10 net benefit from the settlement of

BOLI-related litigation, as well as improved credit costs

•

Adjusted

PPNR

of

$633mm,

including

positive

adjustments

totaling

$16mm,

up

9%

sequentially and flat year-over-year

PPNR reconciliation

634

581

545

582

633

44

34

3

28

25

67

53

32

36

45

$0

$100

$200

$300

$400

$500

$600

$700

$800

3Q10

4Q10

1Q11

2Q11

3Q11

Noninterest Expense Credit Items

Fee Income Credit Items

Adjusted

©

Fifth Third Bank | All Rights Reserved

* Non-GAAP measure.  See Reg. G reconciliation on slides 34-35.

^ See Slide 7 and Slide 8 for detailed breakout of credit-related items.

** There are limitations on the usefulness of credit-adjusted PPNR, including the significant degree to which changes in credit and fair value are integral, recurring components of the

Bancorp’s core operations as a financial institution. This measure has been included herein to facilitate a greater understanding of the Bancorp’s financial condition.

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

Income before income taxes (U.S. GAAP) (a)

$303

$417

$377

$506

$530

Add: Provision expense (U.S. GAAP) (b)

457

166

168

113

87

PPNR (a) + (b)

$760

$583

$545

$619

$617

Adjustments remove (benefit) / detriment:

BOLI

(127)

-

-

-

-

Valuation of 2009 Visa total return swap

-

5

9

4

17

Securities (gains) / losses

(4)

(21)

(8)

(6)

(26)

FTPS warrants & puts

5

(3)

2

(29)

(3)

Extinguishment (gains) / losses

-

17

(3)

(6)

-

Termination of

certain borrowings and

hedging  transactions

-

-

-

-

28

Adjusted PPNR

$634

$581

$545

$582

$633

Credit-related items^:

In noninterest income

44

34

3

28

25

In noninterest expense

67

53

32

36

45

Credit-adjusted PPNR**

$745

$668

$580

$646

$703

10

Strong capital position

Strong capital ratios under Basel I; estimated Basel III Tier 1 common ratio of 9.8%*

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

3Q10

4Q10

1Q11

2Q11

3Q11

Tangible common equity ratio^

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

3Q10

4Q10

1Q11

2Q11

3Q11

Tier I common equity

0%

2%

4%

6%

8%

10%

12%

14%

3Q10

4Q10

1Q11

2Q11

3Q11

Tier 1 Capital Ratio ex-TARP

Tier 1 Capital Ratio

Tier I capital ratio

0%

5%

10%

15%

20%

3Q10

4Q10

1Q11

2Q11

3Q11

Total RBC ratio ex-TARP

Total RBC ratio

Total risk-based capital ratio

Current period regulatory capital data ratios are estimated.

^ Tangible common equity ratio excluding (dark blue) and including (light blue) unrealized securities gains / losses after-tax

* Estimate, subject to final rule-making and clarification by U.S. banking regulators; currently assumes unrealized securities gains are included in common equity for purposes of this calculation

©

Fifth Third Bank | All Rights Reserved

6.7%

7.0%

8.4%

8.6%

8.6%

9.0%

7.1%

7.3%

8.6%

9.0%

7.3%

7.5%

9.0%

9.2%

9.3%

10.5%

10.5%

12.2%

11.9%

12.0%

13.9%

13.9%

14.9%

14.7%

16.3%

16.0%

16.3%

18.1%

18.3%

Net charge-offs

Net charge-offs by loan type

Net charge-offs by geography

Net charge-offs ($mm)

$mm

%

Commercial

$136

52%

Consumer

$126

48%

Total  

$262

100%

Year-over-year charge-offs down significantly due to improving credit trends and effect of 3Q10 credit actions

$mm

%

Florida

$52

20%

Michigan

36

14%

Subtotal

$88

34%

Other

174

66%

Total

$262

100%

©

Fifth Third Bank | All Rights Reserved

$0

$200

$400

$600

$800

$1,000

C&I

21%

Coml

mortgage

18%

Coml

const.

13%

Coml lease

0%

Residential

mortgage

14%

Home

equity

20%

Auto

4%

Card

7%

Other

consumer

3%

MI

14%

OH

23%

IN

3%

IL

15%

KY

7%

TN

3%

NC

2%

Other /

13%

FL

20%

National

11

Actual

Seq. 

YOY

($ in millions)

3Q10

2Q11

3Q11

$

%

$

%

C&I

237

76

55

(21)

(28%)

(182)

(77%)

Commercial mortgage

268

47

47

-

-

(221)

(82%)

Commercial construction

121

20

35

15

75%

(86)

(71%)

Commercial lease

1

(2)

(1)

1

(50%)

(2)

(200%)

Commercial

627

141

136

(5)

(4%)

(491)

(78%)

Residential mortgage loans

204

36

36

-

-

(168)

(82%)

Home equity

66

54

53

(1)

(2%)

(13)

(20%)

Automobile

17

8

12

4

50%

(5)

(29%)

Credit card

36

28

18

(10)

(36%)

(18)

(50%)

Other consumer

6

37

7

(30)

(81%)

1

17%

Consumer

329

163

126

(37)

(23%)

(203)

(62%)

Total net charge-offs

956

304

262

(42)

(14%)

(694)

(73%)

$262

$356

NCOs

due to

3Q10

credit

actions

$367

240

173

164

141

136

206

183

203

163

126

3Q10

4Q10

1Q11

2Q11

3Q11

$304

$956

Commercial

Consumer

12

Nonperforming assets

•

NPAs of $1.9B excluding held-for-sale down

7% year-over-year

•

Commercial NPAs of $1.5B, down 8% from the

previous year

–

Homebuilder / developer NPAs of

$207mm; represent 14% of total

commercial NPAs

•

Consumer NPAs of $470mm, down 2% from

the previous year

•

NPAs in held-for-sale of $197mm

C&I / Lease

$607mm, 31%

CRE

$868mm, 45%

Residential

$407mm, 21%

Other Consumer

$63mm, 3%

ILLINOIS

INDIANA

FLORIDA

TENNESSEE

KENTUCKY

OHIO

MICHIGAN

NORTH

CAROLINA

OTHER /

NATIONAL

NPAs exclude loans held-for-sale.

Nonperforming assets ($mm)

$2,088

$1,944

Nonperforming assets continue to improve

$2,082

$2,174

$2,126

©

Fifth Third Bank | All Rights Reserved

14%

1,604

1,578

1,588

1,612

1,474

478

597

538

476

470

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

3Q10

4Q10

1Q11

2Q11

3Q11

Commercial

Consumer

14%

14%

2%

25%

14%

1%

16%

0%

19%

19%

4%

28%

11%

4%

2%

8%

5%

12%

19%

3%

37%

10%

2%

0%

4%

13%

18%

35%

8%

12%

5%

3%

1%

12%

6%

13

NPL HFI Rollforward

Commercial

3Q10

4Q10

1Q11

2Q11

3Q11

Beginning NPL Amount

1,980

1,261

1,214

1,211

1,253

Transfers to nonperforming

522

269

329

340

217

Transfers to performing

(21)

(2)

(2)

(10)

(11)

Transfers to performing (restructured)

(10)

-

-

-

(1)

Transfers to held for sale

(342)

-

(16)

(15)

(58)

Loans sold from portfolio

(5)

(9)

(12)

(7)

(17)

Loan paydowns/payoffs

(153)

(111)

(108)

(91)

(77)

Transfer to other real estate owned

(92)

(48)

(37)

(39)

(20)

Charge-offs

(627)

(170)

(164)

(141)

(136)

Draws/other extensions of credit

9

24

7

5

5

Ending Commercial NPL

1,261

1,214

1,211

1,253

1,155

Consumer

3Q10

4Q10

1Q11

2Q11

3Q11

Beginning NPL Amount

549

323

466

434

386

Transfers to nonperforming

256

365

232

214

201

Transfers to performing

(45)

(36)

(35)

(34)

(33)

Transfers to performing (restructured)

(29)

(25)

(50)

(41)

(39)

Transfers to held for sale

(205)

-

-

-

-

Loans sold from portfolio

-

-

(1)

(21)

-

Loan paydowns/payoffs

(37)

(17)

(18)

(27)

(27)

Transfer to other real estate owned

(50)

(20)

(18)

(15)

(16)

Charge-offs

(118)

(130)

(144)

(126)

(91)

Draws/other extensions of credit

2

4

2

2

2

Ending Consumer NPL

323

466

434

386

383

Total NPL

1,584

1,680

1,645

1,639

1,538

Total new nonaccrual loans - HFI

778

634

561

554

418

NPL Rollforward

Fifth Third Bank | All Rights Reserved

Significant improvement in NPL inflows over past year

Prior period NPL inflows restated to reflect additional detail and with transfers to nonaccrual status presented to reflect gross inflows and charge-offs.

14

Fifth Third Bank | All Rights Reserved

Non-performing loans

Non-performing loans ($mm)

$1.6B

$1.5B

Non-performing loans improving with lower

severity mix; benefit of sales/transfers

$1.6B

Fifth Third’s non-performing loan inflows (relative to loans) have been

proportionally lower than peers

FITB NPL inflows (relative to loans) vs. peers

FITB

Source: SNL Financial and company filings. Peers include: BAC, BBT, C, CMA, HBAN, JPM, KEY, MTB, PNC, RF, STI, USB, and WFC

New HFI non-performing loan flows ($mm)

NPL inflows down significantly

$1.7B

$1.6B

FITB

ex-HFS

* 3Q10 inflows into NPLs HFS were $217mm, reflecting performing loans moved to held-for-sale in 3Q10 that were deemed impaired as a result of the decision to sell these loans

Prior period NPL inflows restated to reflect additional detail and with transfers to nonaccrual status presented to reflect gross inflows and  charge-offs.

See slide 13 for more information

Troubled debt restructurings overview

Successive improvement in vintage performance during

2008 and 2009 as volume of modification increased

Fifth Third’s mortgage portfolio TDRs have redefaulted

at a lower rate than GSE composites

Of $1.8B in consumer TDRs, $1.6B were on accrual

status and $215mm were nonaccruals

—

$1.1B of TDRs are current and have been on the

books 6 or more months; within that, nearly

$940mm of TDRs are current and have been on

the books for more than a year

As current TDRs season, their default propensity

declines significantly

—

We see much lower defaults on current loans after

a vintage approaches 12 months since

modification

TDR performance has improved in newer vintages

Outperforming redefault benchmarks

Source:  Fifth Third and OCC/OTS data through 1Q11

Mortgage TDR 60+ redefault trend by vintage*

1Q08      4%

2Q08      7%

3Q08      7%

4Q08      8%

1Q09     11%    

2Q09    13%

Months since modification

Mortgage TDR 60+ redefault rate: Fifth Third comparison

(January 1, 2008 through June 2011)*

Fannie Mae

Industry

portfolio loans

Fifth Third

Volume by

vintage

Freddie Mac

3Q09    12%

$1.3B current consumer TDRs (%)

4Q09      8%

$1.1

billion

2008

2009

1Q10      7%

2Q10      5%

* Fifth Third data includes changes made to align with OCC/OTS methodology (i.e. excludes government loans, closed loans and OREO from calculations)

2010

©

Fifth Third Bank | All Rights Reserved

15

3Q10      5%

4Q10      4%

1Q11      5%

16

Strong relative credit trends

FITB credit metrics are in line with or better than peers

NPA ratio vs. peers

Loans 90+ days delinquent % vs. peers

Loans 30-89 days delinquent % vs. peers

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

1.4%

1.6%

1.8%

2.0%

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

1.4%

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

0.5%

1.5%

2.5%

3.5%

4.5%

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

FITB

Peer Average

FITB

Peer Average

FITB

Peer Average

FITB

Peer Average

©

Fifth Third Bank | All Rights Reserved

Peer average includes: BBT, CMA, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC, and ZION

Source: SNL Financial and company filings. All ratios exclude loans held-for-sale and covered assets for peers where appropriate.

* 4Q08 NCOs included $800mm in NCOs related to commercial loans moved to held-for-sale; 3Q10 NCOs included $510mm in NCOs related to loans sold or moved to held-for-sale

Net charge-off ratio vs. peers

(7.5%)*

(HFS transfer)

5.0%*

3.8%

Before credit

actions

2.3%

Before credit

actions

Strong reserve position

Peer average includes: BBT, CMA, HBAN, KEY, MTB, PNC, RF,STI, USB, WFC, and ZION

Source: SNL and company reports. NPAs / NPLs exclude held-for-sale portion for all banks as well as covered assets for BBT, USB, and ZION

3Q11 coverage ratios strong

relative to peers (2Q11)

17

©

Fifth Third Bank | All Rights Reserved

$956

$356

$367

$304

$262

($499)

($190)

($199)

($191)

($175)

4.20%

3.88%

3.62%

3.35%

3.08%

($600)

($400)

($200)

$0

$200

$400

$600

$800

$1,000

$1,200

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

3Q10

4Q10

1Q11

2Q11

3Q11

Net Charge-offs

Additional Provision

Reserves

Industry leading reserve levels

Fifth Third

(3Q11)

Peer Average

(2Q11)

125%

100%

Reserves / NPAs

158%

116%

Reserves / NPLs

235%

221%

Reserves / Annualized NCOs

18

Well-positioned for the future

•

Holding company cash currently sufficient for more than 2 years of obligations; minimal holding company or Bank

debt maturities until 2013

•

Fifth Third has completely exited all crisis-era government support programs

Superior capital and liquidity position

•

NCOs of 1.3%; 2.4x reserves / annualized NCOs

•

$1.2B problem assets addressed through loan sales and transfer to HFS in 3Q10

•

Substantial reduction in exposure to CRE since 1Q09; relatively low CRE exposure versus peers

Proactive approach to risk management

•

Traditional commercial banking franchise built on customer-oriented localized operating model

•

Strong market share in key markets with focus on further improving density

•

Fee income ~40% of total revenues

Diversified traditional banking platform

•

PPNR has remained strong throughout the credit cycle

•

PPNR substantially exceeds annual net charge-offs (235% PPNR / NCOs^ in 3Q11)

•

1.3% ROAA; 15% return on average tangible common equity^

Industry leader in earnings power

^ Non-GAAP measure.  See Reg. G reconciliation on slides 34-35.

©

Fifth Third Bank | All Rights Reserved

–

Fifth Third is one of the few large banks that have no TLGP-guaranteed debt to refinance in 2012

19

Appendix

©

Fifth Third Bank | All Rights Reserved

20

Balance Sheet:

Average loans & leases (excl. HFS)

Average transaction deposits

Income Statement:

Net interest income*

Net interest margin*

Noninterest income

Noninterest expense

Pre-provision net revenue

ROA 

Effective tax rate

Asset Quality:

Net charge-offs

Loan loss allowance 

Nonperforming assets^

Capital Ratios

#

:

Tier I common equity (Basel III)

Tier I leverage

Tier I capital

Total risk-based capital

Category

Fifth Third: Outlook

4Q11 Outlook

$78.6 billion

$72.2

billion

Modest growth vs. 3Q11

Up couple bps vs. 3Q11

~$625mm +/-

Flat/up modestly vs. 3Q11

~$575mm +/-

>1.2%

28%

Please see cautionary statement for risk factors related to forward-looking statements.

* Presented on a fully-taxable equivalent basis.

** Noninterest income forecast includes impact of Durbin amendment starting in October 2011.

^ Ratio as a percent of loans excluding held-for-sale; allowance expectation assumes current expectation for credit and economic trends and is subject to review at quarter-end.

^^ Annualized net charge-offs as a percentage of average loans and leases

# Current period regulatory capital data ratios are estimated; see slide 35 for estimation of Basel III phased-in Tier 1 common

3Q11 Actual

Outlook as of October 20, 2011

Solid growth vs. 3Q11

Modest growth vs. 3Q11

Relatively stable

Lower vs. 3Q11

Down $50-$100mm vs. 3Q11

Building

$902 million

3.65%

$665 million

$946 million

$617 million

1.3%

28%

9.3% (~9.8%)

11.1%

12.0%

16.3%

$262 million (1.32%^^)

$2.4 billion (3.08%)

$1.9 billion (2.44%)

©

Fifth Third Bank | All Rights Reserved

21

©

Fifth Third Bank | All Rights Reserved

Customer-centric traditional banking model:

well-positioned for changed financial landscape

Fifth Third’s business model is driven by traditional banking activities, consistent with

direction of financial reform

—

Dodd-Frank / Basel III do not require substantial changes to Fifth Third’s business

model or asset mix with attendant execution risk

—

Low level of financial system “interconnectedness”

–

International activity primarily related to trade finance and lending to U.S.

subsidiaries of foreign companies

–

(e.g.)

Fifth

Third

loss

in

Lehman

bankruptcy

expected

to

be

less

than

$2mm

—

Little to no impact from Volcker rule (de minimis market maker in derivatives,

proprietary trading)

–

Daily VaR ~$1mm or less

–

Small private equity portfolio ~$100mm

No significant business at Fifth Third impaired during crisis

—

No originations of CDOs, securitizations on behalf of others

—

Didn’t originate or sell subprime mortgages or Option ARMs

—

No mortgage securitizations outstanding (except ~$28mm HELOC from 2003)

Business

profile

positions

Fifth

Third

well

–

today

and

in

the

future

22

Fifth Third Bank | All Rights Reserved

Liquidity levels elevated in 3Q11

As of 3Q11, readily available borrowing capacity at FHLB:

$6.3B; contingent borrowing capacity at the Fed: $21.2B

—

Executed $2.5B in three-month FHLB borrowings in July

as a precaution to supplement liquidity through the

discussion and resolution of the U.S. debt ceiling limit

Holding Company cash at 9/30/11: $2.1B

Cash currently sufficient to satisfy all fixed obligations

for more than 2 years (debt maturities, common and

preferred dividends, interest and other expenses)

without accessing capital markets; relying on dividends

from subsidiaries; proceeds from asset sales

Expected cash obligations over the next 12 months

—

$25mm debt maturities (face value TruPS approved

to redeem)

—

~$333mm common dividends

—

~$35mm Series G preferred dividends

—

~$459mm interest and other expenses

Holding company unsecured debt maturities ($mm)

Bank

unsecured

debt

maturities

($mm

–

excl.

Brokered

CDs)

Heavily core funded

$500

$500

2011

2012

2013

2014

2015

2016

2017

2018

on

Strong liquidity profile

S-T

wholesale

7%

3,749

26

750

1,250

500

63

2011

2012

2013

2014

2015

2016

2017

2018 on

Fifth Third Bancorp

Fifth Third Capital Trust (Bancorp)

Demand

21%

Interest

checking

16%

Savings/

MMDA

24%

Foreign office

3%

Consumer

time

5%

Non-core

deposits

3%

S-T

borrowings

4%

Other

liabilities

4%

Equity

11%

L-T debt

9%

23

©

Fifth Third Bank | All Rights Reserved

Mortgage repurchase overview

33% drop in 3Q11 outstanding claims balance driven by

high number of resolutions in quarter

Virtually all sold loans and the majority of new claims

relate to agencies

—

98% of outstanding balance of loans sold

—

Three-quarters of current quarter outstanding claims

Majority of outstanding balances of the serviced for

others portfolio relates to origination activity in 2009

and later

Private claims and exposure relate to whole loan sales

(no outstanding first mortgage securitizations)

—

Preponderance of private sales prior to 2006

Repurchase Reserves* ($ in millions)

Outstanding Counterparty Claims ($ in millions)

Outstanding Balance of Sold Loans ($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

Beginning balance

85

103

101

87

80

Net reserve additions    

47

21

10

15

20

Repurchase losses

(29)

(23)

(23)

(22)

(31)

Ending balance

103

101

87

80

69

2005 and prior

GSE

GNMA

Private

Total

$7,838

$301

$578

$8,717

2006

1,791

64

277

2,132

2007

2,911

95

239

3,244

2008

2,975

729

0.3

3,704

2009 and later

29,971

8,718

1

38,690

Total

$45,485

$9,907

$1,096

$56,488

*

Includes

reps

and

warranty

reserve

($52mm)

and

reserve

for

loans

sold

with

recourse

($17mm)

172

150

135

110

64

12

11

10

17

21

$184

$161

$145

$127

$85

$40

$60

$80

$100

$120

$140

$160

$180

$200

3Q10

4Q10

1Q11

2Q11

3Q11

Agencies

Private

Claims

24

©

Fifth Third Bank | All Rights Reserved

Non-performing assets and net charge-offs:

Product view*

Total NPAs

Total NCOs

*NPAs exclude loans held-for-sale.

3Q10 NCOs exclude $510mm loans sold of moved to held-for-sale in 3Q10

0

500

1,000

1,500

2,000

2,500

3,000

3Q10

4Q10

1Q11

2Q11

3Q11

C&I/Lease

Auto/Other

CRE

Res RE

0

100

200

300

400

500

3Q10

4Q10

1Q11

2Q11

3Q11

C&I/Lease

Auto/Other

CRE

Res RE

25

©

Fifth Third Bank | All Rights Reserved

Total NPAs

Total NCOs

Non-performing assets and net charge-offs:

Geographic view*

*NPAs exclude loans held-for-sale.

3Q10 NCOs exclude $510mm loans sold of moved to held-for-sale in 3Q10

-

500

1,000

1,500

2,000

2,500

3,000

3Q10

4Q10

1Q11

2Q11

3Q11

Other SE

National

Other MW

Michigan

Florida

-

100

200

300

400

500

3Q10

4Q10

1Q11

2Q11

3Q11

Other SE

National

Other MW

Michigan

Florida

26

©

Fifth Third Bank | All Rights Reserved

Commercial & industrial*

Loans by geography

Credit trends

Loans by industry

Comments

•

Commercial & Industrial loans represented 37% of total loans

and 21% of net charge-offs

•

26% of 3Q11 losses on loans to companies in real estate

related industries

–

Loans to real estate related industries of $2.4B (8%);

3Q11 NCO ratio of 2.18%

•

FL represented 5% of 3Q11 losses, 6% of loans; MI

represented 14% of losses, 11% of loans

* NPAs exclude loans held-for-sale.

3Q10 includes losses on loans transferred to held-for-sale

Non-core:

$108

Core:

$129

Core NCO Rate:

1.94%

3Q10 NCO Breakout

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

EOP Balance

$26,302

$27,191

$27,344

$28,099

$29,258

Avg Loans

$26,344

$26,338

$27,331

$27,909

$28,777

90+ days delinquent

$29

$16

$8

$7

$9

as % of loans

0.11%

0.06%

0.03%

0.02%

0.03%

NPAs

$594

$612

$620

$638

$588

as % of loans

2.26%

2.25%

2.27%

2.27%

2.01%

Net charge-offs

$237

$85

$83

$76

$55

as % of loans

3.57%

1.27%

1.22%

1.10%

0.76%

C&I

MI

11%

IN

5%

TN

4%

Other /

National

36%

FL

6%

IL

14%

OH

18%

KY

4%

NC

2%

Accommodation

2%

Auto

Manufacturing

1%

Construction

4%

Finance

&

Insurance

13%

Manufacturing

23%

Real Estate

4%

Retail

Trade

4%

Auto Retailers

2%

Wholesale

Trade

11%

Other

36%

27

©

Fifth Third Bank | All Rights Reserved

Commercial mortgage*

Loans by geography

Credit trends

Loans by industry

Comments

* NPAs exclude loans held-for-sale.

3Q10 includes losses on loans transferred to held-for-sale

•

Commercial mortgage loans represented 12% of total loans

and 18% of net charge-offs

•

Owner occupied 3Q11 NCO ratio of 1.1%, non-owner

occupied 3Q11 NCO ratio of 2.7%

•

Loans from FL/MI represented 38% of portfolio loans, 32% of

portfolio losses in 3Q11

Non-core:

$202

Core:

$66

Core NCO Rate:

2.30%

3Q10 NCO Breakout

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

EOP Balance

$10,985

$10,845

$10,510

$10,233

$9,862

Avg Loans

$11,375

$10,985

$10,685

$10,394

$10,050

90+ days delinquent

$29

$11

$8

$12

$10

as % of loans

0.26%

0.10%

0.08%

0.11%

0.10%

NPAs

$679

$679

$696

$710

$631

as % of loans

6.19%

6.26%

6.63%

6.94%

6.39%

Net charge-offs

$268

$80

$54

$47

$47

as % of loans

9.34%

2.89%

2.04%

1.83%

1.86%

Commercial mortgage

MI

26%

OH

28%

IN

7%

IL

11%

KY

3%

TN

2%

NC

6%

Other /

National

5%

FL

12%

Accommodation

4%

Auto

Manufacturing

1%

Construction

7%

Finance &

Insurance

1%

Manufacturing

6%

Real Estate

44%

Retail Trade

5%

Auto Retailers

3%

Wholesale

Trade

4%

Other

25%

28

©

Fifth Third Bank | All Rights Reserved

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

EOP Balance

$2,349

$2,048

$1,980

$1,778

$1,681

Avg Loans

$2,885

$2,171

$2,030

$1,918

$1,752

90+ days delinquent

$5

$3

$23

$48

$43

as % of loans

0.21%

0.13%

1.16%

2.71%

2.55%

NPAs

$291

$259

$248

$240

$237

as % of loans

12.40%

12.65%

12.53%

13.52%

14.11%

Net charge-offs

$121

$11

$26

$20

$35

as % of loans

16.58%

2.01%

5.24%

4.09%

7.90%

Commercial construction

Commercial construction*

Loans by geography

Credit trends

Loans by industry

Comments

* NPAs exclude loans held-for-sale.

3Q10 includes losses on loans transferred to held-for-sale

•

Commercial construction loans represented 2% of total loans

and 13% of net charge-offs

•

Loans from FL/MI represented 33% of portfolio loans, 25% of

portfolio losses in 3Q11

Non-core:

$77

Core:

$44

Core NCO Rate:

5.99%

3Q10 NCO Breakout

MI

15%

OH

32%

IN

7%

IL

11%

KY

6%

TN

1%

NC

3%

Other /

National

7%

FL

18%

Accommodation

1%

Construction

20%

Finance &

insurance

0%

Manufacturing

4%

Real estate

53%

Retail Trade

2%

Auto Retailers

1%

Wholesale

Trade

2%

Other

17%

29

Homebuilders/developers*

(included in previous slides)

Loans by geography

Credit trends

Loans by industry

Comments

•

Originations of builder/developer loans suspended in 2007

•

Remaining portfolio balance of $578mm, down 82% from peak

of $3.3B in 2Q08; represents approximately 1% of total loans

and 1.3% of commercial loans

•

$18mm of NCOs (46% commercial mortgage, 36% commercial

construction, 18% C&I)

•

$207mm of NPAs (69% commercial mortgage, 24%

commercial construction, 7% C&I)

* NPAs exclude loans held-for-sale.

3Q10 includes losses on loans transferred to held-for-sale

Non-core:

$95

Core:

$32

Core NCO Rate:

12.25%

3Q10 NCO Breakout

MI

21%

OH

31%

IN

9%

IL

4%

KY

4%

TN

5%

NC

10%

Other /

National

2%

FL

14%

C&I

26%

Commercial

construction

21%

Commercial

mortgage

53%

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

EOP Balance

$824

$699

$651

$597

$578

90+ days delinquent

$3

$1

$1

$1

$3

as % of loans

0.37%

0.12%

0.16%

0.19%

0.59%

NPAs

$280

$259

$249

$243

$207

as % of loans

33.97%

37.12%

38.30%

40.67%

35.87%

Net charge-offs

$127

$19

$22

$14

$18

as % of loans

48.74%

10.08%

13.04%

8.91%

11.50%

Homebuilders/developers

©

Fifth Third Bank | All Rights Reserved

30

©

Fifth Third Bank | All Rights Reserved

Residential mortgage

1    liens: 100%; weighted average LTV: 74.2%

Weighted average origination FICO: 746

Origination FICO distribution:  <660 8%; 660-689 6%; 690-719

10%; 720-749 13%; 750+ 49%; Other^ 14%

(note: loans <660 includes CRA loans and FHA/VA loans)

Origination LTV distribution: <=70 35%; 70.1-80 39%; 80.1-90 8%;

90.1-95 4%; >95 14%

Vintage distribution: 2011 22%; 2010 23%; 2009 5%; 2008 7%;

2007 8%; 2006 8%; 2005 13%; 2004 and prior 14%

% through broker: 14%; performance similar to direct

Loans by geography

Credit trends

Portfolio details

Comments

IN

7%

IL

12%

TN

2%

FL

17%

Other /

National

11%

OH

25%

MI

15%

KY

6%

NC

5%

^ Includes acquired loans where FICO at origination is not available

3Q10 includes losses on loans sold

•

Residential mortgage loans represented 13% of total loans

and 14% of net charge-offs

•

FL portfolio 17% of residential mortgage loans and 53% of

portfolio losses

Non-core:

$123

Core:

$81

Core NCO Rate:

4.10%

3Q10 NCO Breakout

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

EOP Balance

$7,975

$8,956

$9,530

$9,849

$10,249

Avg Loans

$7,837

$8,382

$9,282

$9,654

$10,006

90+ days delinquent

$111

$100

$98

$87

$91

as % of loans

1.39%

1.12%

1.03%

0.88%

0.89%

NPAs

$328

$368

$338

$338

$337

as % of loans

4.11%

4.11%

3.55%

3.43%

3.29%

Net charge-offs

$204

$62

$65

$36

$36

as % of loans

10.33%

2.93%

2.82%

1.50%

1.41%

Residential mortgage

st

31

©

Fifth Third Bank | All Rights Reserved

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

EOP Balance

$1,770

$1,698

$1,637

$1,586

$1,540

90+ days delinquent

$26

$25

$25

$23

$21

as % of loans

1.46%

1.46%

1.51%

1.46%

1.37%

Net charge-offs

$26

$25

$24

$20

$18

as % of loans

5.87%

5.74%

5.88%

4.95%

4.53%

Home equity - brokered

Home equity

1   

liens:

31%;

2   

liens:

69% 

Weighted average origination FICO: 749

Origination FICO distribution^: <660 4%; 660-689 7%; 690-719 13%; 720-749

17%; 750+ 50%; Other 9%

Average CLTV: 74%; Origination CLTV distribution: <=70 39%; 70.1-80 22%;

80.1-90 18%; 90.1-95 7%; >95 14%

Vintage distribution: 2011 2%; 2010 3%; 2009 4%; 2008 11%; 2007 11%; 2006

15%; 2005 14%; 2004 and prior 40%

% through broker channels: 14% WA FICO: 735 brokered, 752 direct; WA

CLTV: 88% brokered; 72% direct

Portfolio details

Comments

Brokered loans by geography

Direct loans by geography

Credit trends

Home equity loans represented 14% of total loans and 20% of net

charge-offs

Approximately 14% of portfolio in broker product driving 33% total

loss

Approximately

one

third

of

Fifth

Third

2 

liens

are

behind

Fifth

Third

1    liens

2005/2006 vintages represent approximately 29% of portfolio; account

for 54% of losses

Aggressive home equity line management strategies in place

Note: Brokered and direct home equity net charge-off ratios are calculated based on end of period loan balances

^ Includes acquired loans where FICO at origination is not available

($ in millions)

3Q10

4Q10

1Q11

2Q11

3Q11

EOP Balance

$10,004

$9,815

$9,585

$9,462

$9,380

90+ days delinquent

$61

$59

$59

$61

$62

as % of loans

0.61%

0.60%

0.62%

0.64%

0.66%

Net charge-offs

$40

$40

$39

$34

$35

as % of loans

1.57%

1.61%

1.64%

1.46%

1.50%

Home equity - direct

MI

21%

OH

31%

IN

9%

IL

14%

KY

8%

TN

2%

NC

5%

Other

1%

FL

9%

MI

21%

OH

25%

IN

10%

IL

12%

KY

7%

TN

2%

NC

1%

Other

19%

FL

3%

nd

st

nd

st

32

©

Fifth Third Bank | All Rights Reserved

Florida market*

Deterioration in real estate values having effect on credit trends as evidenced by increased NPA/NCOs in real estate related products

COML

MORTGAGE

C&I

RESI

MORTGAGE

OTHER

CONS

COML

CONST

COML

LEASE

HOME

EQUITY

AUTO

CREDIT

CARD

Total Loans

NPAs

NCOs

*NPAs exclude loans held-for-sale.

Weak commercial real estate market

Losses due to significant declines in

valuations

Valuations; relatively small home

equity portfolio

28%

18%

5%

0%

27%

13%

8%

1%

0%

17%

29%

21%

30%

2%

1%

17%

17%

0%

36%

20%

2%

2%

1%

5%

Loans ($B)

% of

FITB

NPAs ($M)

% of

FITB

NCOs

($M)

% of

FITB

Commercial loans

1.9

6%

83

14%

3

5%

Commercial mortgage

1.2

12%

137

22%

9

18%

Commercial construction

0.3

18%

103

43%

9

25%

Commercial lease

0.0

1%

-

0%

-

0%

Commercial

3.4

8%

323

22%

20

15%

Mortgage

1.8

17%

144

43%

19

52%

Home equity

0.8

8%

8

12%

10

20%

Auto

0.5

4%

1

6%

1

7%

Credit card

0.1

5%

3

7%

1

7%

Other consumer

0.0

4%

0

2%

1

11%

Consumer

3.2

9%

156

33%

32

25%

Total

6.6

8%

480

25%

52

20%

Florida

33

©

Fifth Third Bank | All Rights Reserved

Loans ($B)

% of

FITB

NPAs ($M)

% of

FITB

NCOs

($M)

% of

FITB

Commercial loans

3.3

11%

83

14%

8

14%

Commercial mortgage

2.6

26%

129

20%

7

14%

Commercial construction

0.3

15%

35

15%

0

1%

Commercial lease

0.2

7%

3

15%

(0)

0%

Commercial

6.3

14%

250

17%

15

11%

Mortgage

1.6

15%

39

12%

5

13%

Home equity

2.3

21%

9

13%

12

23%

Auto

1.0

8%

3

17%

2

13%

Credit card

0.3

15%

9

19%

3

14%

Other consumer

0.1

22%

-

0%

1

11%

Consumer

5.2

15%

60

13%

22

17%

Total

11.5

15%

309

16%

36

14%

Michigan

Michigan market*

Deterioration in home price values coupled with weak economy impacting credit trends due to frequency of defaults and severity

COML

MORTGAGE

C&I

RESI

MORTGAGE

OTHER

CONS

COML

CONST

COML

LEASE

HOME

EQUITY

AUTO

CREDIT

CARD

Total Loans

NPAs

NCOs

*NPAs exclude loans held-for-sale.

Negative impact from housing

valuations, economy,

unemployment

Economic weakness impact on

commercial real estate market

29%

22%

2%

2%

14%

20%

8%

2%

1%

27%

42%

11%

1%

12%

3%

1%

3%

0%

21%

19%

1%

0%

13%

33%

4%

7%

2%

34

©

Fifth Third Bank | All Rights Reserved

Regulation G Non-GAAP reconciliation

$ and shares in millions

(unaudited)

For the Three Months Ended

September

June

March

December

September

2011

2011

2011

2010

2010

Income before income taxes (U.S. GAAP)

530

506

377

417

303

Add:

Provision expense (U.S. GAAP)

87

113

168

166

457

Pre-provision net revenue (a)

617

619

545

583

760

Net income available to common shareholders (U.S. GAAP)

373

328

88

270

175

Add:

Intangible amortization, net of tax

3

4

5

7

7

Tangible net income available to common shareholders

376

332

93

277

182

Tangible net income available to common shareholders (annualized) (b)

1,492

1,332

377

1,099

722

Average Bancorp shareholders' equity (U.S. GAAP)

12,841

12,365

13,052

14,007

13,852

Less:

Average preferred stock

398

398

1,557

3,648

3,637

Average goodwill

2,417

2,417

2,417

2,417

2,417

Average intangible assets

47

52

59

67

78

Average tangible common equity (c)

9,979

9,498

9,019

7,875

7,720

Total Bancorp shareholders' equity (U.S. GAAP)

13,029

12,572

12,163

14,051

13,884

Less: 

Preferred stock

(398)

(398)

(398)

(3,654)

(3,642)

Goodwill

(2,417)

(2,417)

(2,417)

(2,417)

(2,417)

Intangible assets

(45)

(49)

(55)

(62)

(72)

Tangible common equity, including unrealized gains / losses (d)

10,169

9,708

9,293

7,918

7,753

Less: Accumulated other comprehensive income / loss

(542)

(396)

(263)

(314)

(432)

Tangible common equity, excluding unrealized gains / losses (e)

9,627

9,312

9,030

7,604

7,321

Total assets (U.S. GAAP)

114,905

110,805

110,485

111,007

112,322

Less: 

Goodwill

(2,417)

(2,417)

(2,417)

(2,417)

(2,417)

Intangible assets

(45)

(49)

(55)

(62)

(72)

Tangible assets, including unrealized gains / losses (f)

112,443

108,339

108,013

108,528

109,833

Less: Accumulated other comprehensive income / loss, before tax

(834)

(609)

(405)

(483)

(665)

Tangible assets, excluding unrealized gains / losses (g)

111,609

107,730

107,608

108,045

109,168

Common shares outstanding (h)

920

920

919

796

796

Net charge-offs (i)

262

304

367

356

956

Ratios:

Return on average tangible common equity (b) / (c)

14.9%

14.0%

4.2%

13.9%

9.4%

Tangible

common

equity

(excluding

unrealized

gains/losses)

(e)

/

(g)

8.63%

8.64%

8.39%

7.04%

6.70%

Tangible

common

equity

(including

unrealized

gains/losses)

(d)

/

(f)

9.04%

8.96%

8.60%

7.30%

7.06%

Tangible book value per share (d) / (h)

11.05

10.55

10.11

9.94

9.74

Pre-provision net revenue / net charge-offs (a) / (i)

235%

204%

149%

164%

79%

35

©

Fifth Third Bank | All Rights Reserved

Regulation G Non-GAAP reconciliation

$ in millions

(unaudited)

For the Three Months Ended

September

June

March

December

September

2011

2011

2011

2010

2010

Total Bancorp shareholders' equity (U.S. GAAP)

13,029

12,572

12,163

14,051

13,884

Goodwill and certain other intangibles

(2,514)

(2,536)

(2,546)

(2,546)

(2,525)

Unrealized gains

(542)

(396)

(263)

(314)

(432)

Qualifying trust preferred securities

2,273

2,312

2,763

2,763

2,763

Other

20

20

12

11

8

Tier I capital

12,266

11,972

12,129

13,965

13,698

Less:

Preferred stock

(398)

(398)

(398)

(3,654)

(3,642)

Qualifying trust preferred securities

(2,273)

(2,312)

(2,763)

(2,763)

(2,763)

Qualifying noncontrolling interest in consolidated subsidiaries

(30)

(30)

(30)

(30)

(30)

Tier I common equity (a)

9,565

9,232

8,938

7,518

7,263

Unrealized gains

542

Disallowed deferred tax assets

-

Disallowed MSRs

64

Other

10

Less:

10% of individual deferred tax assets, MSRs, investment in financial entities

-

15% of aggregate deferred tax assets, MSRs, investment in financial entities

-

Tier 1 common equity, Basel III proforma (b)

10,181

Risk-weighted assets, determined in accordance with

prescribed regulatory requirements (c)

102,562

100,320

99,392

100,561

98,904

Add:

Regulatory deductions not deducted from Tier 1 common equity,

risk-weighted at 250%

1,377

Risk-weighted assets, Basel III proforma (d)

103,939

Ratios:

Tier I common equity (a) / (c)

9.33%

9.20%

8.99%

7.48%

7.34%

Tier I common equity, Basel III proforma (b) / (d)

9.80%

EX-99.3

Exhibit 99.3

September 2011

QUARTERLY FINANCIAL SUPPLEMENT

Investment Community Member:

To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.

Numbers are unaudited for quarterly information.

If you need further information, please fax or e-mail your request to Fifth Third’s Investor Relations Department at (513) 534-3945 or IR@53.com

Jim Eglseder	Rich Rosen
VP / Investor Relations	VP / Investor Relations
(513) 534-8424	(513) 534-3307

Quarterly Data

	Three Months Ended
	September 30, 2011		June 30, 2011		March 31, 2011		December 31, 2010		September 30, 2010		June 30, 2010		March 31, 2010			December 31, 2009
Ratios (percent)
Return on assets		1.34		1.22		0.97		1.18		0.84		0.68		(0.04	)		(0.35	)
Return on average common equity		11.9		11.0		3.1		10.4		6.8		5.2		(3.0	)		(6.3	)
Average equity as a percent of average assets		11.33		11.12		11.77		12.52		12.38		12.04		11.92			12.31
Net interest margin (a)		3.65		3.62		3.71		3.75		3.70		3.57		3.63			3.55
Efficiency (a)		60.4		59.1		62.5		62.6		56.2		62.1		62.6			63.1
Net losses charged off as a percent of average loans and leases		1.32		1.56		1.92		1.86		4.95		2.26		3.01			3.62
Allowance for loan and lease losses as a percent of loans and leases		3.08		3.35		3.62		3.88		4.20		4.85		4.91			4.88
Allowance for credit losses as a percent of loans and leases		3.32		3.61		3.89		4.17		4.51		5.18		5.25			5.27
Nonperforming assets as a percent of loans, leases and other assets, including OREO (b)		2.44		2.66		2.73		2.79		2.72		3.87		4.02			4.22
Allowance for loan and lease losses as a percent of nonperforming assets (b)		125.46		125.19		131.94		138.18		153.41		124.40		121.50			115.55
Allowance for credit losses as a percent of nonperforming assets (b)		135.11		134.65		141.86		148.62		164.54		132.97		129.80			124.63
Common Share Data
Earnings per share	$	0.41	$	0.36	$	0.10	$	0.34	$	0.22	$	0.16	$	(0.09	)	$	(0.20	)
Earnings per diluted share	$	0.40	$	0.35	$	0.10	$	0.33	$	0.22	$	0.16	$	(0.09	)	$	(0.20	)
Cash dividends per common share		0.08		0.06		0.06		0.01		0.01		0.01		0.01			0.01
Book value per share		13.73		13.23		12.80		13.06		12.86		12.65		12.31			12.44
Common shares outstanding, excluding treasury		919,778,512		919,818,137		918,728,008		796,272,522		796,283,198		796,319,712		794,816,131			795,068,164
Market price per share:
High	$	13.09	$	14.15	$	15.75	$	15.11	$	13.81	$	15.95	$	14.05		$	10.92
Low		9.13		11.88		13.25		11.71		10.64		12.00		9.81			8.76
End of period		10.10		12.75		13.89		14.68		12.03		12.29		13.56			9.75
Supplemental Data
Common dividends declared ($ in millions)	$	73	$	55	$	55	$	8	$	8	$	8	$	8		$	8
Full-time equivalent employees		21,172		20,953		20,837		20,838		20,667		20,479		20,038			20,998
Banking centers		1,314		1,316		1,310		1,312		1,309		1,309		1,309			1,309
ATMs		2,437		2,456		2,453		2,445		2,390		2,362		2,364			2,358

(a) Presented on a fully taxable equivalent basis (FTE).

(b) Excludes nonperforming assets held for sale.

Page 2

Quarterly Data

	Three Months Ended
	September 30, 2011			June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			June 30, 2010			March 31, 2010			December 31, 2009
Income Statement ($ in millions)
Interest income (FTE)	$	1,059		$	1,050		$	1,065		$	1,109		$	1,130		$	1,121		$	1,147		$	1,147
Interest expense		157			181			181			190			214			234			246			265
Net interest income (FTE)		902			869			884			919			916			887			901			882
Provision for loan and lease losses		87			113			168			166			457			325			590			776
Noninterest income:
Service charges on deposits		134			126			124			140			143			149			142			159
Investment advisory revenue		92			95			98			93			90			87			91			86
Corporate banking revenue		87			95			86			103			86			93			81			89
Mortgage banking net revenue		178			162			102			149			232			114			152			132
Card and processing revenue		78			89			80			81			77			84			73			76
Other noninterest income		64			83			81			55			195			85			74			107
Securities gains, net		26			6			8			21			4			8			14			2
Securities gains, net - non-qualifying hedges on mortgage servicing rights		6			—			5			14			—			—			—			—
Total noninterest income		665			656			584			656			827			620			627			651
Noninterest expense:
Salaries, wages and incentives		369			365			351			385			360			356			329			331
Employee benefits		70			79			97			73			82			73			86			69
Net occupancy expense		75			75			77			76			72			73			76			75
Technology and communications		48			48			45			52			48			45			45			47
Equipment expense		28			28			29			32			30			31			30			31
Card and processing expense		34			29			29			26			26			31			25			27
Other noninterest expense		322			277			290			343			361			326			365			387
Total noninterest expense		946			901			918			987			979			935			956			967
Income (loss) before income taxes (FTE)		534			511			382			422			307			247			(18	)		(210	)
Taxable equivalent adjustment		4			5			5			5			4			5			4			4
Income (loss) before income taxes		530			506			377			417			303			242			(22	)		(214	)
Applicable income tax (benefit)		149			169			112			83			65			50			(12	)		(116	)
Net income (loss)	$	381		$	337		$	265		$	334		$	238		$	192		$	(10	)	$	(98	)
Less: Net income attributable to noncontrolling interests		—			—			—			1			—			—			—			—
Net income (loss) attributable to Bancorp	$	381		$	337		$	265		$	333		$	238		$	192		$	(10	)	$	(98	)
Dividends on preferred stock		8			9			177			63			63			62			62			62
Net income (loss) available to common shareholders	$	373		$	328		$	88		$	270		$	175		$	130		$	(72	)	$	(160	)
Regulatory Capital Data ($ in millions) (a)
Tier I capital	$	12,266		$	11,972		$	12,129		$	13,965		$	13,698		$	13,462		$	13,297		$	13,428
Tier II capital		4,397			4,112			4,046			4,213			4,379			4,279			4,120			4,207
Total risk-based capital	$	16,663		$	16,084		$	16,175		$	18,178		$	18,077		$	17,741		$	17,417		$	17,648
Risk-weighted assets	$	102,562		$	100,320		$	99,392		$	100,561		$	98,904		$	98,604		$	99,281		$	100,933
Tier I capital ratio		11.96	%		11.93	%		12.20	%		13.89	%		13.85	%		13.65	%		13.39	%		13.30	%
Total risk-based capital ratio		16.25	%		16.03	%		16.27	%		18.08	%		18.28	%		17.99	%		17.54	%		17.48	%
Tier I leverage ratio		11.08	%		11.03	%		11.21	%		12.79	%		12.54	%		12.24	%		12.00	%		12.34	%
Tier I common equity ratio		9.33	%		9.20	%		8.99	%		7.48	%		7.34	%		7.17	%		6.96	%		6.99	%

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

Page 3

Quarterly Data

	As of
	September 30, 2011			June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			June 30, 2010			March 31, 2010			December 31, 2009
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	2,348		$	2,380		$	2,121		$	2,159		$	2,215		$	2,216		$	2,133		$	2,318
Available-for-sale and other securities		16,227			15,502			15,135			15,414			15,975			16,021			16,935			18,213
Held-to-maturity securities		337			344			346			353			354			354			355			355
Trading securities		189			217			216			294			320			270			305			355
Other short-term investments		2,028			1,370			2,481			1,515			3,271			4,322			3,904			3,369
Total cash and securities		21,129			19,813			20,299			19,735			22,135			23,183			23,632			24,610
Loans held for sale		1,840			1,185			1,291			2,216			2,733			2,150			1,607			2,067
Portfolio loans and leases		79,216			77,967			77,465			77,491			76,009			76,232			77,423			76,779
Total loans and leases		81,056			79,152			78,756			79,707			78,742			78,382			79,030			78,846
Allowance for loan and lease losses		(2,439	)		(2,614	)		(2,805	)		(3,004	)		(3,194	)		(3,693	)		(3,802	)		(3,749	)
Bank premises and equipment		2,410			2,395			2,389			2,389			2,377			2,374			2,384			2,400
Operating lease equipment		462			492			513			479			470			489			492			499
Goodwill		2,417			2,417			2,417			2,417			2,417			2,417			2,417			2,417
Intangible assets		45			49			55			62			72			83			94			106
Servicing rights		662			847			894			822			599			646			725			700
Other real estate owned		447			488			514			506			504			454			399			300
Other assets		8,716			7,766			7,453			7,894			8,200			7,690			7,280			7,251
Total assets	$	114,905		$	110,805		$	110,485		$	111,007		$	112,322		$	112,025		$	112,651		$	113,380
Liabilities
Deposits:
Demand	$	24,547		$	22,589		$	22,066		$	21,413		$	20,109		$	19,256		$	19,482		$	19,411
Interest checking		18,616			18,072			18,597			18,560			17,225			17,759			19,126			19,935
Savings		21,673			21,764			21,697			20,903			20,260			19,646			19,099			17,898
Money market		5,448			4,859			5,184			5,035			5,064			4,666			4,782			4,431
Foreign office		3,139			3,271			3,569			3,721			3,807			3,430			2,844			2,454
Other time		5,439			6,399			7,043			7,728			9,379			10,966			11,643			12,466
Certificates - $100,000 and over		3,092			3,642			4,160			4,287			5,515			6,389			6,596			7,700
Other foreign office		93			2			1			1			3			3			2			10
Total deposits		82,047			80,598			82,317			81,648			81,362			82,115			83,574			84,305
Federal funds purchased		427			403			332			279			368			240			271			182
Other short-term borrowings		4,894			2,702			1,297			1,574			1,775			1,556			1,359			1,415
Other liabilities		4,679			4,349			3,792			3,868			3,951			3,424			3,092			3,474
Long-term debt		9,800			10,152			10,555			9,558			10,953			10,989			10,947			10,507
Total liabilities		101,847			98,204			98,293			96,927			98,409			98,324			99,243			99,883
Equity
Common and preferred equity		12,552			12,242			12,025			13,867			13,584			13,395			13,321			13,457
Net unrealized gains (losses):
Available-for-sale securities		519			397			277			321			434			432			268			216
Qualifying cash flow hedges		91			68			58			67			73			84			98			105
Accumulated other comprehensive income related to employee benefit plans		(68	)		(69	)		(72	)		(74	)		(75	)		(76	)		(78	)		(80	)
Treasury stock, at cost		(65	)		(66	)		(125	)		(130	)		(132	)		(134	)		(201	)		(201	)
Total Bancorp shareholders’ equity		13,029			12,572			12,163			14,051			13,884			13,701			13,408			13,497
Noncontrolling interest		29			29			29			29			29			—			—			—
Total equity		13,058			12,601			12,192			14,080			13,913			13,701			13,408			13,497
Total liabilities & equity	$	114,905		$	110,805		$	110,485		$	111,007		$	112,322		$	112,025		$	112,651		$	113,380

Page 4

Quarterly Data

Share Data
Preferred shares outstanding	16,450	16,450	16,450	152,771	152,771	152,771	152,771	152,771
Common shares outstanding, excluding treasury	919,778,512	919,818,137	918,728,008	796,272,522	796,283,198	796,319,712	794,816,131	795,068,164
Treasury shares held	4,114,068	4,074,443	5,164,573	5,231,665	5,220,989	5,184,475	6,688,056	6,436,023

Page 5

Quarterly Data

	Three Months Ended
	September 30, 2011			June 30, 2011			March 31, 2011			December 31, 2010			September 30, 2010			June 30, 2010			March 31, 2010			December 31, 2009
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	80,013		$	79,153		$	79,379		$	79,148		$	78,854		$	78,807		$	80,136		$	79,920
Taxable securities		15,790			15,115			15,156			15,367			15,580			16,263			17,030			16,999
Tax exempt securities		64			96			197			268			273			343			385			727
Other short-term investments		2,288			1,981			1,937			2,431			3,456			4,285			3,144			1,143
Total interest-earning assets		98,155			96,345			96,669			97,214			98,163			99,698			100,695			98,789
Cash and due from banks		2,362			2,356			2,268			2,284			2,283			2,163			2,247			2,276
Other assets		15,381			15,298			14,897			15,449			15,088			14,550			14,262			14,084
Allowance for loan and lease losses		(2,603	)		(2,799	)		(2,990	)		(3,089	)		(3,680	)		(3,798	)		(3,771	)		(3,644	)
Total assets	$	113,295		$	111,200		$	110,844		$	111,858		$	111,854		$	112,613		$	113,433		$	111,505
Liabilities
Interest-bearing liabilities:
Interest checking	$	18,322		$	18,701		$	18,539		$	17,578		$	17,142		$	18,652		$	19,533		$	16,324
Savings		21,747			21,817			21,324			20,602			19,905			19,446			18,469			17,540
Money market		5,213			5,009			5,136			4,985			4,940			4,679			4,622			4,279
Foreign office		3,255			3,805			3,580			3,733			3,592			3,325			2,757			2,516
Other time		6,008			6,738			7,363			8,490			10,261			11,336			12,059			13,049
Certificates - $100,000 and over		3,376			3,955			4,226			4,858			6,096			6,354			7,049			8,200
Other foreign office		7			2			1			9			4			5			8			51
Federal funds purchased		376			344			310			376			302			264			220			423
Other short-term borrowings		4,033			1,605			1,638			1,728			1,880			1,478			1,449			3,029
Long-term debt		10,136			10,527			10,255			10,298			10,954			10,876			11,489			10,404
Total interest-bearing liabilities		72,473			72,503			72,372			72,657			75,076			76,415			77,655			75,815
Demand deposits		23,677			22,174			21,582			21,066			19,362			19,406			18,822			18,137
Other liabilities		4,275			4,129			3,809			4,099			3,544			3,229			3,438			3,829
Total liabilities		100,425			98,806			97,763			97,822			97,982			99,050			99,915			97,781
Equity		12,870			12,394			13,081			14,036			13,872			13,563			13,518			13,724
Total liabilities & equity	$	113,295		$	111,200		$	110,844		$	111,858		$	111,854		$	112,613		$	113,433		$	111,505
Average loans and leases (excluding held for sale)	$	78,620		$	77,937		$	77,636		$	76,236		$	76,617		$	76,973		$	78,381		$	77,601
Average common shares outstanding:
Basic		914,946,545			914,600,600			880,829,800			791,072,308			791,016,740			790,838,716			790,472,577			790,441,911
Diluted		955,490,439			955,477,616			894,841,321			836,224,575			797,492,107			802,254,845			790,472,577			790,441,911

Page 6

Quarterly Data

	Three Months Ended
	September 30, 2011		June 30, 2011		March 31, 2011		December 31, 2010		September 30, 2010		June 30, 2010		March 31, 2010		December 31, 2009
(net of unearned discount)
End of Period Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	29,324	$	28,155	$	27,431	$	27,274	$	26,502	$	26,011	$	26,134	$	25,687
Commercial mortgage		9,967		10,331		10,617		10,992		11,333		11,569		11,865		11,936
Commercial construction		1,707		1,805		2,020		2,111		2,500		3,042		3,396		3,871
Commercial leases		3,368		3,326		3,367		3,378		3,304		3,271		3,388		3,535
Subtotal - commercial		44,366		43,617		43,435		43,755		43,639		43,893		44,783		45,029
Consumer:
Residential mortgage		11,878		10,838		10,557		10,858		9,989		9,672		9,239		9,845
Home equity		10,920		11,048		11,222		11,513		11,774		11,987		12,186		12,174
Automobile loans		11,593		11,315		11,129		10,983		10,738		10,285		10,180		8,995
Credit card		1,878		1,856		1,821		1,896		1,832		1,841		1,863		1,990
Other consumer loans and leases		421		478		592		702		770		704		779		813
Subtotal - consumer		36,690		35,535		35,321		35,952		35,103		34,489		34,247		33,817
Total loans and leases	$	81,056	$	79,152	$	78,756	$	79,707	$	78,742	$	78,382	$	79,030	$	78,846
(net of unearned discount)
Average Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	28,824	$	27,970	$	27,404	$	26,509	$	26,348	$	26,179	$	26,299	$	25,838
Commercial mortgage		10,140		10,491		10,816		11,276		11,462		11,772		11,836		12,126
Commercial construction		1,777		1,950		2,085		2,289		2,955		3,258		3,781		4,134
Commercial leases		3,300		3,349		3,364		3,314		3,257		3,336		3,468		3,574
Subtotal - commercial		44,041		43,760		43,669		43,388		44,022		44,545		45,384		45,672
Consumer:
Residential mortgage		11,224		10,655		10,736		10,693		9,897		9,390		9,478		10,141
Home equity		10,985		11,144		11,376		11,655		11,897		12,102		12,338		12,291
Automobile loans		11,445		11,188		11,070		10,825		10,517		10,170		10,185		8,973
Credit card		1,864		1,834		1,852		1,844		1,838		1,859		1,940		1,982
Other consumer loans and leases		454		572		676		743		683		741		811		861
Subtotal - consumer		35,972		35,393		35,710		35,760		34,832		34,262		34,752		34,248
Total average loans and leases	$	80,013	$	79,153	$	79,379	$	79,148	$	78,854	$	78,807	$	80,136	$	79,920
Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	1,134	$	1,240	$	1,287	$	1,333	$	1,378	$	2,236	$	2,423	$	2,642
Nonaccrual loans held for sale		171		147		184		247		680		163		239		220
Restructured loans - commercial (non accrual) held for sale		26		29		32		47		19		4		4		4
Restructured loans and leases (non accrual) portfolio		404		399		358		347		206		294		310		305
Other assets, including other real estate owned		406		449		481		494		498		439		396		297
Total nonperforming assets	$	2,141	$	2,264	$	2,342	$	2,468	$	2,781	$	3,136	$	3,372	$	3,468
Ninety days past due loans and leases	$	274	$	279	$	266	$	274	$	317	$	397	$	436	$	567
(non-accrual plus renegotiated)
Nonperforming Loans ($ in millions)
Commercial and industrial loans and leases	$	646	$	684	$	652	$	753	$	769	$	800	$	828	$	840
Commercial mortgage		513		558		559		581		820		878		980		1,035
Commercial construction loans		194		187		208		258		371		469		606		741
Consumer mortgage and construction		276		272		261		268		208		435		408		412
Other consumer loans and leases		108		114		181		114		115		115		153		144
Total nonperforming loans and leases (including held for sale)	$	1,737	$	1,815	$	1,861	$	1,974	$	2,283	$	2,697	$	2,975	$	3,172

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Quarterly Data

Credit Charge-Offs ($ in millions)
Gross charge-offs	$	(294	)	$	(343	)	$	(397	)	$	(399	)	$	(992	)	$	(472	)	$	(622	)	$	(743	)
Recoveries		32			39			30			43			36			38			40			35
Net losses charged off	$	(262	)	$	(304	)	$	(367	)	$	(356	)	$	(956	)	$	(434	)	$	(582	)	$	(708	)

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