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): January 21, 2015

(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 January 21, 2015, Fifth Third Bancorp issued a press release and its quarterly and annual financial supplements announcing its earnings release for the fourth quarter of 2014. A copy of this press release and its quarterly and annual financial supplements are attached as Exhibits 99.1, 99.3, and 99.4, 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 January 21, 2015, Fifth Third Bancorp issued a press release and its quarterly and annual financial supplements announcing its earnings release for the fourth quarter of 2014. A copy of this press release and its quarterly and annual financial supplements are attached as Exhibits 99.1, 99.3, and 99.4, 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 January 21, 2015

Exhibit 99.2 – Fourth Quarter Earnings Conference Call

Exhibit 99.3 – Quarterly Financial Supplement

Exhibit 99.4 – Annual 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)
January 21, 2015	/s/ Tayfun Tuzun
	Tayfun Tuzun
	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	January 21, 2015
	Laura Wehby (Investors)
	(513) 534-7407
	Larry Magnesen (Media)
	(513) 534-8055

FIFTH THIRD ANNOUNCES FOURTH QUARTER EARNINGS PER DILUTED SHARE OF $0.43

2014 EARNINGS PER DILUTED SHARE OF $1.66

• 4Q14 net income available to common shareholders of $362 million, or $0.43 per diluted common share

• Includes a $56 million pre-tax (~$37 million after-tax, or $0.04 per share) positive valuation adjustment on the warrant Fifth Third holds in Vantiv, $23 million pre-tax (~$15 million after-tax, or $0.02 per share) of provision expense related to the transfer of residential mortgage loans classified as troubled debt restructurings to held-for-sale, and a $19 million pre-tax (~$13 million after-tax, or $0.02 per share) charge related to the valuation of Visa total return swap

• 4Q14 return on average assets (ROA) of 1.13%; return on average common equity of 10.0%; return on average tangible common equity** of 12.1%

• Pre-provision net revenue (PPNR)** of $618 million in 4Q14

• Net interest income (FTE) of $888 million, down 2% sequentially and down 2% from 4Q13; net interest margin of 2.96%, down 14 basis points sequentially

• Average portfolio loans of $91.0 billion, up $242 million sequentially and $3.1 billion from 4Q13

• Noninterest income of $653 million compared with $520 million in the prior quarter; impacted by valuations on the Vantiv warrant and the valuation of the Visa total return swap during both quarters and the annual payment received from Vantiv pursuant to the tax receivable agreement in the fourth quarter

• Noninterest expense of $918 million compared with $888 million in the prior quarter primarily driven by higher compensation-related expenses and credit-related costs

• Credit trends

• 4Q14 net charge-offs of $191 million (0.83% of loans and leases) included $87 million of charge-offs related to the transfer of residential mortgage loans classified as troubled debt restructurings to held-for-sale; 3Q14 NCOs of $115 million (0.50% of loans and leases) and 4Q13 NCOs of $148 million (0.67% of loans and leases)

• 4Q14 provision expense of $99 million included $23 million impact related to the aforementioned transfer of loans to held-for-sale; $71 million in 3Q14 and $53 million in 4Q13

• Allowance for loan and lease losses decreased $92 million sequentially ($64 million reduction related to aforementioned transfer of loans to held-for-sale); allowance to loan ratio of 1.47%

• Total nonperforming assets (NPAs) of $783 million, including loans held-for-sale (HFS), declined $20 million sequentially; portfolio NPA ratio of 0.82% down 6 bps from 3Q14, NPL ratio of 0.64% down 4 bps from 3Q14; 2 bps improvement due to aforementioned transfer of loans to held-for-sale

• Strong capital ratios*

• Tier 1 common ratio** 9.65%, vs. 9.64% in 3Q14 (Basel III pro forma estimate of ~9.4%)

• Tier 1 risk-based capital ratio 10.83%, Total risk-based capital ratio 14.33%, Leverage ratio 9.66%

• Tangible common equity ratio** of 8.71%; 8.43% excluding securities portfolio unrealized gains/losses

• Book value per share of $17.35; tangible book value per share** of $14.40; up 3% from 3Q14 and up 11% from 4Q13

• Repurchased 10 million common shares in 4Q14; incremental impact from 3Q14 and 4Q14 transactions reduced average diluted share count by 11 million in 4Q14

* Capital ratios estimated; presented under current U.S. capital regulations. The pro forma Basel III Tier I common equity ratio is management’s estimate based upon its current interpretation of the Basel III Final Rule approved in July 2013. See “Capital Position” section for more information.

** Non-GAAP measure; see Reg. G reconciliation on page 33.

Fifth Third Bancorp (Nasdaq: FITB) today reported full year 2014 net income of $1.5 billion, down 19 percent from net income of $1.8 billion in 2013. After preferred dividends, 2014 net income available to common shareholders was $1.4 billion, or $1.66 per diluted share, down 21 percent compared with 2013 net income available to common shareholders of $1.8 billion, or $2.02 per diluted share.

Fourth quarter 2014 net income was $385 million, an increase of 13 percent from net income of $340 million in the third quarter of 2014 and a decrease of 4 percent from net income of $402 million in the fourth quarter of 2013. After preferred dividends, net income available to common shareholders was $362 million, or $0.43 per diluted share, in the fourth quarter 2014, compared with $328 million, or $0.39 per diluted share, in the third quarter 2014, and $383 million, or $0.43 per diluted share, in the fourth quarter of 2013.

Fourth quarter 2014 included:

Income

• $56 million positive valuation adjustment on the Vantiv warrant

• $23 million annual payment received from Vantiv pursuant to tax receivable agreement

• ($19 million) charge related to the valuation of the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares

Expenses

• ($6 million) in severance expense

• $3 million reversal of litigation reserves

Results also included $23 million of provision expense related to the transfer of residential mortgage loans classified as troubled debt restructurings to held-for-sale. Additionally, results included an immaterial amount in mortgage repurchase provision.

Third quarter 2014 included:

Income

• ($53 million) negative valuation adjustment on the Vantiv warrant

• ($3 million) charge related to the valuation of the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares

Expenses

• ($4 million) in litigation reserve charges

• ($2 million) in severance expense

Results also included the impact of $3 million in mortgage repurchase provision.

Fourth quarter 2013 included:

Income

• $91 million positive valuation adjustment on the Vantiv warrant

• ($18 million) charge related to the valuation of the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares

• $9 million annual payment received from Vantiv pursuant to tax receivable agreement

Expenses

• ($69 million) in net charges to increase litigation reserves

• ($8 million) of debt extinguishment costs associated with the redemption of Fifth Third Capital Trust IV trust preferred securities (TruPS)

• ($8 million) contribution to Fifth Third Foundation

• ($8 million) in severance expense

Results also included a benefit to the mortgage repurchase provision of $28 million primarily related to Fifth Third’s settlement with Freddie Mac and corresponding expectations for future repurchase requests and file claims.

2

Earnings Highlights

	For the Three Months Ended															% Change
	December 2014			September 2014			June 2014			March 2014			December 2013			Seq			Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	385		$	340		$	439		$	318		$	402			13	%		(4	%)
Net income available to common shareholders	$	362		$	328		$	416		$	309		$	383			10	%		(6	%)
Common Share Data
Earnings per share, basic		0.44			0.39			0.49			0.36			0.44			13	%		—
Earnings per share, diluted		0.43			0.39			0.49			0.36			0.43			10	%		—
Cash dividends per common share		0.13			0.13			0.13			0.12			0.12			—			8	%
Financial Ratios
Return on average assets		1.13	%		1.02	%		1.34	%		1.00	%		1.24	%		10	%		(10	%)
Return on average common equity		10.0			9.2			11.9			9.0			10.8			9	%		(7	%)
Return on average tangible common equity(b)		12.1			11.1			14.4			11.0			13.1			9	%		(8	%)
Tier I risk-based capital		10.83			10.83			10.80			10.45			10.43			—			4	%
Tier I common equity(b)		9.65			9.64			9.61			9.51			9.45			—			2	%
Net interest margin(a)		2.96			3.10			3.15			3.22			3.21			(5	%)		(8	%)
Efficiency(a)		59.6			62.1			58.2			64.9			61.5			(4	%)		(3	%)
Common shares outstanding (in thousands)		824,047			834,262			844,489			847,569			855,306			(1	%)		(4	%)
Average common shares outstanding (in thousands):
Basic		819,057			829,392			838,492			845,860			868,077			(1	%)		(6	%)
Diluted		827,831			838,324			848,245			857,924			877,511			(1	%)		(6	%)

(a) Presented on a fully taxable equivalent basis.

(b) The tangible common equity and tier 1 common equity 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.

The percentages in all of the tables in this earning release are calculated on actual dollar amounts and not the rounded dollar amounts.

NM: Not meaningful.

“Fifth Third reported full year net income available to common shareholders of $1.4 billion and earnings per diluted share were $1.66. Full year 2014 earnings included solid performance across our business lines highlighted by growth in corporate banking, payments processing, and investment advisory revenue,” said Kevin T. Kabat, Vice Chairman and CEO of Fifth Third Bancorp. “Highlights for the year also included 7 percent growth in demand deposits and well-controlled expenses that were down 6 percent. Return on average assets was 1.1 percent and return on average tangible common equity* was 12.2 percent.

“Fourth quarter earnings of $385 million rounded out a solid year in a very tough operating environment. Average total deposits were up 3 percent sequentially, highlighted by 5 percent average demand deposit growth. Fee income comparisons were led by corporate banking which increased 20 percent sequentially, led by strong results in capital markets fees to close out the year. We continue to make what we believe to be long-term value enhancing decisions when we deploy our shareholders’ equity and maintain our focus on earnings growth as we anticipate a healthier economy in 2015.

* Non-GAAP measure; see Reg. G reconciliation on page 33.

3

“Full year net charge-offs were impacted by our decision to move $720 million of residential mortgage TDRs to held-for-sale, as we look to take advantage of market conditions to reduce our TDR portfolio. This decision increased our charge-offs by $87 million. The intended transaction is in line with our previous statements about our view of the current pricing for risk assets and is another indication of our strong focus to reduce the volatility of our future earnings. Otherwise in credit, nonperforming assets were down 24 percent from last year and remain at very low levels. Our credit metrics are moving in the right direction and provide further support to our positive credit outlook.

“We continued to prudently and actively manage our capital position, reducing our share count by another 4 percent in 2014. Fifth Third performed very well in 2014, and we made a number of decisions throughout the year to reduce risk and volatility of earnings, and we feel the Company is well positioned as we enter 2015.”

Income Statement Highlights

	For the Three Months Ended										% Change
	December 2014		September 2014		June 2014		March 2014		December 2013		Seq			Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	888	$	908	$	905	$	898	$	905		(2	%)		(2	%)
Provision for loan and lease losses		99		71		76		69		53		40	%		87	%
Total noninterest income		653		520		736		564		703		26	%		(7	%)
Total noninterest expense		918		888		954		950		989		3	%		(7	%)
Income before income taxes (taxable equivalent)		524		469		611		443		566		12	%		(8	%)
Taxable equivalent adjustment		5		5		5		5		5		(4	%)		(1	%)
Applicable income taxes		134		124		167		119		159		8	%		(16	%)
Net income		385		340		439		319		402		13	%		(4	%)
Less: Net income attributable to noncontrolling interests		—		—		—		1		—		(70	%)		NM
Net income attributable to Bancorp		385		340		439		318		402		13	%		(4	%)
Dividends on preferred stock		23		12		23		9		19		87	%		19	%
Net income available to common shareholders		362		328		416		309		383		10	%		(6	%)
Earnings per share, diluted	$	0.43	$	0.39	$	0.49	$	0.36	$	0.43		10	%		—

4

Net Interest Income

	For the Three Months Ended															% Change
	December 2014			September 2014			June 2014			March 2014			December 2013			Seq			Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	1,016		$	1,023		$	1,013		$	998		$	1,007			(1	%)		1	%
Total interest expense		128			115			108			100			102			11	%		25	%
Net interest income (taxable equivalent)	$	888		$	908		$	905		$	898		$	905			(2	%)		(2	%)
Average Yield
Yield on interest-earning assets (taxable equivalent)		3.38	%		3.49	%		3.53	%		3.58	%		3.57	%		(3	%)		(5	%)
Rate paid on interest-bearing liabilities		0.61	%		0.56	%		0.54	%		0.51	%		0.52	%		9	%		17	%
Net interest rate spread (taxable equivalent)		2.77	%		2.93	%		2.99	%		3.07	%		3.05	%		(5	%)		(9	%)
Net interest margin (taxable equivalent)		2.96	%		3.10	%		3.15	%		3.22	%		3.21	%		(5	%)		(8	%)
Average Balances ($ in millions)
Loans and leases, including held for sale	$	91,581		$	91,428		$	91,241		$	90,238		$	88,865			—			3	%
Total securities and other short-term investments		27,604			24,927			23,940			22,940			23,043			11	%		20	%
Total interest-earning assets		119,185			116,355			115,181			113,178			111,908			2	%		7	%
Total interest-bearing liabilities		82,544			81,157			80,770			79,130			77,573			2	%		6	%
Bancorp shareholders’ equity		15,644			15,486			15,157			14,862			14,757			1	%		6	%

Net interest income of $888 million on a fully taxable equivalent basis decreased $20 million from the third quarter primarily driven by the effects of loan repricing and higher interest expense associated with the debt issuance in the third quarter of 2014 and partially offset by the benefit of loan growth. Additionally, net interest income was negatively impacted by lower average investment securities balances and higher deposit costs in the quarter.

The net interest margin was 2.96 percent, a decrease of 14 bps from the previous quarter primarily resulting from elevated cash balances due to growth in funding balances. Additionally, the net interest margin was negatively impacted by debt issuances and loan repricing during the quarter.

Compared with the fourth quarter of 2013, net interest income decreased $17 million and the net interest margin decreased 25 bps. The decrease in net interest income was driven by the effect of loan repricing and higher interest expense resulting from increased long-term debt balances partially offset by higher investment securities balances and loan balances. The decline in the net interest margin was primarily driven by the impact of loan repricing.

Securities

Average securities and other short-term investments were $27.6 billion in the fourth quarter of 2014 compared with $24.9 billion in the previous quarter and $23.0 billion in the fourth quarter of 2013. Average securities of $22.4 billion decreased $216 million from the prior quarter reflecting the decision to not reinvest portfolio cash flows. Other short-term investments average balances of $5.2 billion increased $2.9 billion sequentially while end of period balances increased $4.3 billion reflecting higher cash balances held at the Federal Reserve.

5

Loans

	For the Three Months Ended										% Change
	December 2014		September 2014		June 2014		March 2014		December 2013		Seq			Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	41,277	$	41,477	$	41,374	$	40,377	$	38,835		—			6	%
Commercial mortgage loans		7,480		7,633		7,885		7,981		8,047		(2	%)		(7	%)
Commercial construction loans		1,909		1,563		1,362		1,116		952		22	%		NM
Commercial leases		3,600		3,571		3,555		3,607		3,578		1	%		1	%
Subtotal—commercial loans and leases		54,266		54,244		54,176		53,081		51,412		—			6	%
Consumer:
Residential mortgage loans		13,046		12,785		12,611		12,659		12,609		2	%		3	%
Home equity		8,937		9,009		9,101		9,194		9,296		(1	%)		(4	%)
Automobile loans		12,073		12,105		12,070		12,023		12,019		—			—
Credit card		2,324		2,295		2,232		2,230		2,202		1	%		6	%
Other consumer loans and leases		395		361		359		343		357		9	%		11	%
Subtotal—consumer loans and leases		36,775		36,555		36,373		36,449		36,483		1	%		1	%
Total average loans and leases (excluding held for sale)	$	91,041	$	90,799	$	90,549	$	89,530	$	87,895		—			4	%
Average loans held for sale		540		629		692		708		970		(14	%)		(44	%)

Average loan and lease balances (excluding loans held-for-sale) increased $242 million sequentially and increased $3.1 billion, or 4 percent, from the fourth quarter of 2013. The sequential increase in average loans and leases was primarily driven by growth in commercial construction and residential mortgage loans. Sequential growth was partially offset by declines in commercial and industrial (C&I), commercial mortgage, and home equity loans. Period end loans and leases (excluding loans held-for-sale) of $90.1 billion decreased $540 million sequentially, reflecting the impact of $720 million residential mortgage loans classified as troubled debt restructurings transferred to held-for-sale during the quarter, and increased $1.5 billion, or 2 percent, from a year ago.

Average commercial portfolio loan and lease balances were flat sequentially and increased $2.9 billion, or 6 percent, from the fourth quarter of 2013. Average C&I loans decreased $200 million from the prior quarter and increased $2.4 billion from the fourth quarter of 2013. Within commercial real estate, average commercial mortgage balances continued to decline and average commercial construction balances increased for the eighth consecutive quarter. Commercial line usage, on an end of period basis, was 32 percent of committed lines in the fourth quarter of 2014 compared with 32 percent in the third quarter of 2014 and 29 percent in the fourth quarter of 2013.

Average consumer portfolio loan and lease balances increased $220 million, or 1 percent, sequentially and increased $292 million, or 1 percent, year-over-year. Average residential mortgage loans increased 2 percent sequentially and 3 percent from a year ago. Average home equity loans declined 1 percent sequentially and 4 percent from the fourth quarter of 2013. Average credit card loans increased 1 percent sequentially and 6 percent from the fourth quarter of 2013.

6

Average loans held-for-sale balances of $540 million decreased $89 million sequentially and $430 million compared with the fourth quarter of 2013. Period end loans held-for-sale of $1.3 billion increased $620 million from the previous quarter and $317 million from the fourth quarter of 2013 primarily due to the transfer of certain residential mortgage loans classified as troubled debt restructurings to held-for-sale.

Deposits

	For the Three Months Ended										% Change
	December 2014		September 2014		June 2014		March 2014		December 2013		Seq			Yr/Yr
Average Deposits ($ in millions)
Demand	$	33,301	$	31,790	$	31,275	$	30,626	$	30,765		5	%		8	%
Interest checking		25,478		24,926		25,222		25,911		24,650		2	%		3	%
Savings		15,173		15,759		16,509		16,903		17,323		(4	%)		(12	%)
Money market		17,023		15,222		13,942		12,439		11,285		12	%		51	%
Foreign office(a)		1,439		1,663		2,200		2,017		1,717		(13	%)		(16	%)
Subtotal—Transaction deposits		92,414		89,360		89,148		87,896		85,740		3	%		8	%
Other time		3,936		3,800		3,693		3,616		3,529		4	%		12	%
Subtotal—Core deposits		96,350		93,160		92,841		91,512		89,269		3	%		8	%
Certificates—$100,000 and over		2,998		3,339		3,840		5,576		7,456		(10	%)		(60	%)
Other		—		—		—		—		—		NM			NM
Total deposits	$	99,348	$	96,499	$	96,681	$	97,088	$	96,725		3	%		3	%

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

Average core deposits increased $3.2 billion sequentially and increased $7.1 billion, or 8 percent, from the fourth quarter of 2013. Average transaction deposits increased $3.1 billion from the third quarter of 2014 primarily driven by higher money market account, demand deposit, and interest checking balances, partially offset by lower savings and foreign office balances. Year-over-year transaction deposits increased $6.7 billion, or 8 percent, driven by higher money market account, demand deposit, and interest checking balances, partially offset by lower savings and foreign office balances. Other time deposits increased 4 percent sequentially and 12 percent compared with the fourth quarter of 2013.

Average commercial transaction deposits increased 5 percent sequentially and 10 percent from the previous year. Sequential performance reflected higher demand deposit, money market account, and interest checking balances, partially offset by lower foreign office balances. Year-over-year growth reflected higher demand deposit, interest checking, and money market account balances as customers are holding higher balances.

Average consumer transaction deposits increased 2 percent sequentially and increased 6 percent from the fourth quarter of 2013. The sequential performance reflected higher money market account, interest checking, and demand deposit balances partially offset by lower savings balances. Year-over-year growth was driven by increased money market account and demand deposit balances partially offset by lower savings and interest checking balances.

7

Wholesale Funding

	For the Three Months Ended										% Change
	December 2014		September 2014		June 2014		March 2014		December 2013		Seq			Yr/Yr
Average Wholesale Funding ($ in millions)
Certificates—$100,000 and over	$	2,998	$	3,339	$	3,840	$	5,576	$	7,456		(10	%)		(60	%)
Other deposits		—		—		—		—		—		NM			NM
Federal funds purchased		161		520		606		547		301		(69	%)		(47	%)
Other short-term borrowings		1,481		1,973		2,234		1,808		2,177		(25	%)		(32	%)
Long-term debt		14,855		13,955		12,524		10,313		9,135		6	%		63	%
Total wholesale funding	$	19,495	$	19,787	$	19,204	$	18,244	$	19,069		(1	%)		2	%

Average wholesale funding of $19.5 billion decreased $292 million, or 1 percent, sequentially and increased $426 million, or 2 percent, compared with the fourth quarter of 2013. The sequential decrease was driven by a decrease in other short-term borrowings, federal funds purchased, and certificates $100,000 and over, partially offset by an increase in long-term debt. Average other short-term borrowings decreased $492 million from the prior quarter primarily due to a decrease in FHLB borrowings. The year-over-year increase in average wholesale funding reflected an increase in long-term debt, partially offset by a decrease in certificates $100,000 and over and other short-term borrowings. Average long-term debt balances reflected the $1.0 billion on-balance sheet auto securitization executed in the fourth quarter of 2014, as well as the full quarter impact of $850 million of bank senior debt issued in the third quarter of 2014.

Noninterest Income

	For the Three Months Ended										% Change
	December 2014		September 2014		June 2014		March 2014		December 2013		Seq			Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	142	$	145	$	139	$	133	$	142		(2	%)		—
Corporate banking revenue		120		100		107		104		94		20	%		27	%
Mortgage banking net revenue		61		61		78		109		126		—			(51	%)
Investment advisory revenue		100		103		102		102		98		(2	%)		2	%
Card and processing revenue		76		75		76		68		71		2	%		7	%
Other noninterest income		150		33		226		41		170		NM			(13	%)
Securities gains, net		4		3		8		7		2		15	%		NM
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—		—		—		—		—		—			—
Total noninterest income	$	653	$	520	$	736	$	564	$	703		26	%		(7	%)

Noninterest income of $653 million increased $133 million sequentially and decreased $50 million compared with prior year results. These comparisons reflect the impacts described below.

For the quarters ending December 31, 2014, September 30, 2014, and December 31, 2013, the impacts of Vantiv warrant valuation adjustments were positive $56 million, negative $53 million, and positive $91 million, respectively. Quarterly results also included charges related to the valuation of the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares. Valuation adjustments on this swap were a negative $19 million, negative $3 million, and negative $18 million in the fourth quarter of 2014, the third quarter of 2014, and the fourth quarter of 2013, respectively. Excluding these items and net securities gains in all periods, noninterest income of $612 million increased $39 million, or 7 percent,

8

from the previous quarter and decreased $16 million, or 3 percent, from the fourth quarter of 2013. The sequential increase was primarily due to the $23 million annual payment received from Vantiv pursuant to the tax receivable agreement in the fourth quarter of 2014 and an increase in corporate banking revenue. The year-over-year decline was primarily due to lower mortgage banking net revenue partially offset by higher corporate banking revenue and higher payments received from Vantiv pursuant to the tax receivable agreement in the fourth quarter of 2014 compared to the fourth quarter of 2013, which were $23 million and $9 million, respectively.

Service charges on deposits of $142 million decreased 2 percent from the third quarter and were flat compared with the same quarter last year. The sequential decline was due to a 2 percent decrease in commercial service charges as well as a 2 percent decrease in retail service charges due to lower overdraft occurrences.

Corporate banking revenue of $120 million increased 20 percent from the third quarter of 2014 and 27 percent from the fourth quarter of 2013. The sequential increase was due to higher syndication fees, business lending fees, and foreign exchange fees, partially offset by a decrease in institutional sales revenue. The year-over-year increase was driven by higher syndication fees, lease remarketing fees, letter of credit fees, and foreign exchange fees, partially offset by a decrease in institutional sales revenue.

Mortgage banking net revenue was $61 million in the fourth quarter of 2014, flat from the third quarter of 2014 and a 51 percent decrease from the fourth quarter of 2013. Fourth quarter 2014 originations were $1.7 billion, compared with $2.1 billion in the previous quarter and $2.6 billion in the fourth quarter of 2013. Fourth quarter 2014 originations resulted in gains of $36 million on mortgages sold, compared with gains of $34 million during the previous quarter and $60 million during the fourth quarter of 2013. The sequential increase was driven by higher gain on sale margins, partially offset by lower production. The decrease from the prior year reflected lower production, including Fifth Third’s exit from the broker channel, partially offset by higher gain on sale margins. Mortgage servicing fees were $60 million this quarter, $61 million in the third quarter of 2014, and $64 million in the fourth quarter of 2013. Mortgage banking net revenue is also affected by net servicing asset valuation 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 negative $34 million in the fourth quarter of 2014 (reflecting MSR amortization of $32 million and MSR valuation adjustments of negative $2 million); negative $34 million in the third quarter of 2014 (MSR amortization of $33 million and MSR valuation adjustments of negative $1 million); and positive $3 million in the fourth quarter of 2013 (MSR amortization of $23 million and MSR valuation adjustments of positive $26 million). The mortgage servicing asset, net of the valuation reserve, was $856 million at quarter-end on a servicing portfolio of $65 billion.

Investment advisory revenue of $100 million decreased 2 percent from the third quarter and increased 2 percent year-over-year. The sequential decline reflected a decrease in personal specialty and insurance fees relative to elevated levels in the third quarter, as well as a decrease in securities and brokerage fees due to a continued shift from transaction-based fees to recurring revenue streams. The year-over-year increase reflected an increase in personal asset management fees due to market-related growth, partially offset by a decrease in securities and brokerage fees.

9

Card and processing revenue of $76 million in the fourth quarter of 2014 increased 2 percent sequentially and increased 7 percent from the fourth quarter of 2013. The sequential and year-over-year increases reflect an increase in the number of actively used cards and an increase in customer spend volume.

Other noninterest income totaled $150 million in the fourth quarter of 2014, compared with $33 million in the previous quarter and $170 million in the fourth quarter of 2013. As previously described, the results included the impact of Vantiv warrant valuation adjustments and charges related to the valuation of the Visa total return swap. Excluding these items, other noninterest income of $113 million increased approximately $24 million, or 27 percent, from the third quarter of 2014 and increased approximately $16 million, or 16 percent, from the fourth quarter of 2013. The sequential and year-over-year increases were primarily due to payments received from Vantiv pursuant to the tax receivable agreement of $23 million in the fourth quarter of 2014 and $9 million in the fourth quarter of 2013.

Net gains on investment securities were $4 million in the fourth quarter of 2014, compared with $3 million in the previous quarter and $2 million in the fourth quarter of 2013.

Noninterest Expense

	For the Three Months Ended										% Change
	December 2014		September 2014		June 2014		March 2014		December 2013		Seq			Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	366	$	357	$	368	$	359	$	388		3	%		(6	%)
Employee benefits		79		75		79		101		78		5	%		1	%
Net occupancy expense		77		78		79		80		77		(1	%)		—
Technology and communications		54		53		52		53		53		2	%		2	%
Equipment expense		30		30		30		30		29		—			3	%
Card and processing expense		36		37		37		31		37		(1	%)		(2	%)
Other noninterest expense		276		258		309		296		327		7	%		(16	%)
Total noninterest expense	$	918	$	888	$	954	$	950	$	989		3	%		(7	%)

Noninterest expense of $918 million increased 3 percent compared with the third quarter of 2014 and decreased 7 percent compared with the fourth quarter of 2013.

Fourth quarter 2014 expenses included a $3 million reversal of litigation reserves, compared with $4 million in charges to litigation reserves in the third quarter of 2014 and $69 million in charges to litigation reserves in the fourth quarter of 2013. Fourth quarter 2014 expenses also included $6 million in severance expense compared with $2 million in the third quarter of 2014 and $8 million in the fourth quarter of 2013. Fourth quarter of 2013 also included $8 million of debt extinguishment costs associated with the redemption of Fifth Third Capital Trust IV and an $8 million contribution to Fifth Third Foundation. Excluding these items, noninterest expense of $915 million was up $33 million, or 4 percent, sequentially and increased $19 million, or 2 percent, year-over-year. The sequential increase reflected higher credit-related costs and compensation-related expense. The year-over-year increase reflected increased credit-related costs, partially offset by lower compensation-related expense, primarily due to changes in our mortgage and retail staffing.

10

Credit costs related to problem assets recorded as noninterest expense totaled $33 million in the fourth quarter of 2014, compared with $13 million in the third quarter of 2014, and a benefit of $12 million in the fourth quarter of 2013. Credit- related expenses included provision for mortgage repurchases that was an immaterial amount in the fourth quarter of 2014, compared with expense of $3 million in the third quarter of 2014. The fourth quarter of 2013 included a benefit of $26 million reflecting the reduction in the mortgage representation and warranty reserve primarily related to Fifth Third’s settlement with Freddie Mac and corresponding expectations for future repurchase requests and file claims. (Realized mortgage repurchase losses were $2 million in the fourth quarter of 2014, compared with $3 million in the third quarter of 2014, and $33 million in the fourth quarter of 2013.) Provision for unfunded commitments was an expense of $1 million in the current quarter, compared with a benefit of $8 million last quarter and a benefit of $5 million a year ago. Derivative valuation adjustments related to customer credit risk were negative $10 million for the current quarter, positive $1 million in the third quarter, and positive $2 million for the year ago quarter. Other problem asset-related expenses were $17 million in the fourth quarter, compared with $15 million in the previous quarter, and $17 million in the same period last year.

Credit Quality

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Total net losses charged off ($ in millions)
Commercial and industrial loans	($	44	)	($	50	)	($	31	)	($	97	)	($	66	)
Commercial mortgage loans		(10	)		(5	)		(9	)		(3	)		(8	)
Commercial construction loans		—			—			(8	)		(5	)		(4	)
Commercial leases		(1	)		—			—			—			—
Residential mortgage loans		(94	)		(9	)		(8	)		(15	)		(13	)
Home equity		(11	)		(14	)		(18	)		(16	)		(26	)
Automobile loans		(7	)		(7	)		(5	)		(8	)		(6	)
Credit card		(20	)		(23	)		(21	)		(19	)		(21	)
Other consumer loans and leases		(4	)		(7	)		(1	)		(5	)		(4	)
Total net losses charged off		(191	)		(115	)		(101	)		(168	)		(148	)
Total losses		(215	)		(146	)		(127	)		(190	)		(183	)
Total recoveries		24			31			26			22			35
Total net losses charged off	($	191	)	($	115	)	($	101	)	($	168	)	($	148	)
Ratios (annualized)
Net losses charged off as a percent of average loans and leases (excluding held for sale)		0.83	%		0.50	%		0.45	%		0.76	%		0.67	%
Commercial		0.40	%		0.40	%		0.35	%		0.79	%		0.60	%
Consumer		1.47	%		0.66	%		0.60	%		0.72	%		0.76	%

Net charge-offs were $191 million, or 83 bps of average loans on an annualized basis, in the fourth quarter of 2014 compared with net charge-offs of $115 million, or 50 bps, in the third quarter of 2014 and $148 million, or 67 bps, in the fourth quarter of 2013. The fourth quarter of 2014 net charge-offs included $87 million (38 bps) related to the transfer of residential mortgage loans classified as troubled debt restructurings to held-for-sale. Excluding these, net charge-offs were $104 million, or 45 bps, in the fourth quarter of 2014. For comparison purposes, the fourth quarter of 2013 included a single large credit that was restructured which resulted in a charge-off of $43 million (19 bps).

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Commercial net charge-offs were $55 million, or 40 bps, and were flat sequentially. C&I net charge-offs of $44 million decreased $6 million from the previous quarter and commercial real estate net charge-offs increased $5 million from the previous quarter.

Consumer net charge-offs were $136 million, or 147 bps, up $76 million sequentially. Net charge-offs on residential mortgage loans in the portfolio were $94 million, up $85 million from the previous quarter primarily reflecting the impact of the charge-offs mentioned above. Home equity net charge-offs were $11 million, down $3 million from the third quarter of 2014, and net charge-offs in the auto portfolio of $7 million were flat compared with the prior quarter. Net charge-offs on consumer credit card loans were $20 million, down $3 million from the third quarter. Net charge-offs on other consumer loans were $4 million, down $3 million compared with the previous quarter.

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	1,414		$	1,458		$	1,483		$	1,582		$	1,677
Total net losses charged off		(191	)		(115	)		(101	)		(168	)		(148	)
Provision for loan and lease losses		99			71			76			69			53
Allowance for loan and lease losses, ending		1,322			1,414			1,458			1,483			1,582
Reserve for unfunded commitments, beginning		134			142			153			162			167
Provision (benefit) for unfunded commitments		1			(8	)		(11	)		(9	)		(5	)
Reserve for unfunded commitments, ending		135			134			142			153			162
Components of allowance for credit losses:
Allowance for loan and lease losses		1,322			1,414			1,458			1,483			1,582
Reserve for unfunded commitments		135			134			142			153			162
Total allowance for credit losses	$	1,457		$	1,548		$	1,600		$	1,636		$	1,744
Allowance for loan and lease losses ratio
As a percent of loans and leases		1.47	%		1.56	%		1.61	%		1.65	%		1.79	%
As a percent of nonperforming loans and leases(a)		228	%		228	%		228	%		202	%		211	%
As a percent of nonperforming assets(a)		178	%		178	%		175	%		157	%		161	%

(a) Excludes nonaccrual loans and leases in loans held for sale.

Provision for loan and lease losses totaled $99 million in the fourth quarter of 2014 and included a $23 million impact related to the transfer of residential mortgage loans classified as troubled debt restructurings to held-for-sale. The provision increased $28 million from the third quarter of 2014 and increased $46 million from the fourth quarter of 2013. The allowance for loan and lease losses declined $92 million sequentially reflecting a $64 million reduction related to the aforementioned transfer of loans to held-for-sale, as well as the portfolio’s overall risk profile and charges to the allowance. The allowance represented 1.47 percent of total loans and leases outstanding as of quarter end, compared with 1.56 percent last quarter, and represented 228 percent of nonperforming loans and leases, and 178 percent of nonperforming assets.

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	As of
	December 2014			September 2014			June 2014			March 2014			December 2013
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	86		$	102		$	103		$	153		$	127
Commercial mortgage loans		64			77			86			96			90
Commercial construction loans		—			2			3			3			10
Commercial leases		3			3			2			3			3
Residential mortgage loans		44			52			56			68			83
Home equity		72			69			73			75			74
Automobile loans		—			—			—			—			—
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual loans and leases (excludes restructured loans)	$	269		$	305		$	323		$	398		$	387
Restructured loans—commercial (nonaccrual)(c)		214			201			202			209			228
Restructured loans—consumer (nonaccrual)		96			114			115			126			136
Total nonaccrual portfolio loans and leases	$	579		$	620		$	640		$	733		$	751
Repossessed personal property		18			19			18			6			7
Other real estate owned(a)		147			157			174			207			222
Total nonperforming assets(b)	$	744		$	796		$	832		$	946		$	980
Nonaccrual loans held for sale		24			4			5			3			6
Restructured loans—(nonaccrual) held for sale		15			3			—			—			—
Total nonperforming assets including loans held for sale	$	783		$	803		$	837		$	949		$	986
Restructured Consumer loans and leases (accrual)	$	905		$	1,610		$	1,623		$	1,682		$	1,685
Restructured Commercial loans and leases (accrual)(c)	$	844		$	885		$	914		$	847		$	869
Total loans and leases 90 days past due	$	87		$	87		$	94		$	94		$	103
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned(b)		0.64	%		0.68	%		0.70	%		0.82	%		0.84	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned(b)		0.82	%		0.88	%		0.92	%		1.05	%		1.10	%

(a) Excludes government insured advances.

(b) Does not include nonaccrual loans held for sale.

(c) Excludes $21 million of restructured nonaccrual loans and $7 million of restructured accruing loans as of December 31, 2014, September 30, 2014, June 30, 2014, and March 31, 2014 and excludes $21 million of restructured nonaccrual loans and $8 million of restructured accruing loans as of December 31, 2013 associated with a consolidated variable interest entity in which the Bancorp has no continuing credit risk.

Total nonperforming assets, including loans held-for-sale, were $783 million, a decline of $20 million, or 3 percent, from the previous quarter. Nonperforming loans (NPLs) at quarter-end were $579 million or 0.64 percent of total loans, leases and OREO, and decreased $41 million, or 7 percent, from the previous quarter. The fourth quarter NPLs declined $24 million related to the transfer of residential mortgage loans classified as troubled debt restructurings to held-for-sale.

Commercial NPAs were $461 million, or 0.85 percent of commercial loans, leases and OREO, and decreased $26 million, or 5 percent, from the third quarter. Commercial NPLs were $367 million, or 0.68 percent of commercial loans and leases, and decreased $18 million from last quarter. C&I NPAs of $246 million decreased $32 million from the prior quarter. Commercial mortgage NPAs were $195 million, up $9 million from the previous quarter. Commercial construction NPAs were $16 million, a decrease of $3 million from the previous quarter. Commercial lease NPAs were $4 million, flat from the previous quarter. Commercial NPAs included $214 million of nonaccrual troubled debt restructurings (TDRs), compared with $201 million last quarter.

13

Consumer NPAs of $283 million, or 0.78 percent of consumer loans, leases and OREO, decreased $26 million from the third quarter. Consumer NPLs were $212 million, or 0.59 percent of consumer loans and leases and decreased $23 million from last quarter. The declines in consumer NPAs and NPLs were driven by the residential mortgage loans moved to held-for-sale in the fourth quarter. Residential mortgage NPAs were $126 million, $38 million lower than last quarter reflecting the aforementioned NPAs moved to held-for-sale. Home equity NPAs of $108 million increased $7 million sequentially and credit card NPAs of $41 million were up $4 million compared with the previous quarter. Consumer nonaccrual TDRs were $96 million in the fourth quarter of 2014, compared with $114 million in the third quarter of 2014.

Fourth quarter OREO balances included in NPA balances were $147 million, down $10 million from the third quarter, and included $83 million in commercial OREO and $64 million in consumer OREO. Repossessed personal property of $18 million decreased $1 million from the prior quarter.

Loans over 90 days past due and still accruing were $87 million, flat from the third quarter of 2014. Commercial balances over 90 days past due were less than $1 million compared with $1 million in the prior quarter, and consumer balances 90 days past due of $87 million were up $1 million from the previous quarter. Loans 30-89 days past due of $250 million were down $29 million from the previous quarter. Commercial balances 30-89 days past due of $16 million were down $1 million sequentially and consumer balances 30-89 days past due of $234 million decreased $28 million from the third quarter. The above delinquencies figures exclude nonaccruals described previously.

14

Capital Position

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Capital Position
Average shareholders’ equity to average assets		11.54	%		11.71	%		11.57	%		11.53	%		11.51	%
Tangible equity(a)		9.41	%		9.65	%		9.77	%		9.61	%		9.44	%
Tangible common equity (excluding unrealized gains/losses)(a)		8.43	%		8.64	%		8.74	%		8.79	%		8.63	%
Tangible common equity (including unrealized gains/losses)(a)		8.71	%		8.84	%		9.00	%		8.93	%		8.69	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses)(a)(b)		9.70	%		9.70	%		9.67	%		9.57	%		9.52	%
Regulatory capital ratios:(c)
Tier I risk-based capital		10.83	%		10.83	%		10.80	%		10.45	%		10.43	%
Total risk-based capital		14.33	%		14.34	%		14.30	%		14.02	%		14.17	%
Tier I leverage		9.66	%		9.82	%		9.86	%		9.71	%		9.73	%
Tier I common equity(a)		9.65	%		9.64	%		9.61	%		9.51	%		9.45	%
Book value per share		17.35			16.87			16.74			16.27			15.85
Tangible book value per share(a)		14.40			13.95			13.86			13.40			13.00

(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, reflecting growth in retained earnings, the payment of preferred dividends, and share repurchase activity. Compared with the prior quarter, the Tier 1 common equity ratio* of 9.65 percent increased 1 bp. The tangible common equity to tangible assets ratio* was 8.43 percent (excluding unrealized gains/losses) and 8.71 percent (including unrealized gains/losses). The Tier 1 risk-based capital ratio was 10.83 percent and was flat compared to the prior quarter. The total risk-based capital ratio decreased 1 bps to 14.33 percent and the Leverage ratio decreased 16 bps to 9.66 percent.

Our current estimate of the pro-forma fully phased in Tier I common equity ratio at December 31, 2014 under the final capital rule, assuming the Company elected to maintain the current treatment of AOCI components in capital, would be approximately 9.4 percent**. This would compare with 9.7 percent* as calculated under the currently prevailing Basel I capital framework. Were Fifth Third to make the election to include AOCI components in capital, the December 31, 2014 pro forma Basel III Tier 1 common ratio would be increased by approximately 35 bps. Fifth Third’s pro forma Tier 1 common equity ratio exceeds the minimum buffered Tier 1 common equity ratio of 7 percent, comprising a minimum of 4.5 percent plus a capital conservation buffer of 2.5 percent. The pro forma Tier 1 common equity ratio does not include the effect of any mitigating actions the Bancorp may undertake to offset any impact of the final capital rules.

* Non-GAAP measure; see Reg. G reconciliation on page 33.

** Capital ratios estimated; presented under current U.S. capital regulations. The pro forma Basel III Tier I common equity ratio is management’s estimate based upon its current interpretation of the Basel III Final Rule approved in July 2013.

15

Book value per share at December 31, 2014 was $17.35 and tangible book value per share* was $14.40, compared with the September 30, 2014 book value per share of $16.87 and tangible book value per share of $13.95.

As previously announced, Fifth Third entered into a share repurchase agreement with a counterparty on October 20, 2014, whereby Fifth Third would purchase approximately $180 million of its outstanding common stock. This transaction reduced Fifth Third’s fourth quarter share count by 8.34 million shares on October 23, 2014. Settlement of the forward contract related to this agreement occurred on January 5, 2015 and an additional 0.79 million shares were repurchased upon completion of the agreement. In addition, the settlement of the forward contract related to the July 21, 2014 $225 million share repurchase agreement occurred on October 14, 2014. An additional 1.90 million shares were repurchased upon completion of the agreement. In total, the incremental impact to the average diluted share count in the fourth quarter of 2014 was approximately 10.53 million shares due to share repurchase transactions in the third and fourth quarters of 2014.

Tax Rate

The effective tax rate was 25.9 percent this quarter compared with 26.7 percent in the third quarter of 2014 and 28.4 percent in the fourth quarter of 2013.

Other

Fifth Third Bank owns 43 million units representing a 22.8 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm (NYSE: VNTV). Based upon Vantiv’s closing price of $33.92 on December 31, 2014, our interest in Vantiv was valued at approximately $1.5 billion. Next month in our 10-K, we will update our disclosure of the carrying value of our interest in Vantiv stock, which was $388 million as of September 30, 2014. The difference between the market value and the book value of Fifth Third’s interest in Vantiv’s shares is not recognized in Fifth Third’s equity or capital. Additionally, Fifth Third has a warrant to purchase additional shares in Vantiv which is carried as a derivative asset at a fair value of $415 million as of December 31, 2014.

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”). 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 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 Wednesday, February 4, 2015 by dialing 800-585-8367 for domestic access or 404-537-3406 for international access (passcode 46038333#).

* Non-GAAP measure; see Reg. G reconciliation on page 33.

16

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of December 31, 2014, the Company had $139 billion in assets and operated 15 affiliates with 1,302 full-service Banking Centers, including 101 Bank Mart^® locations, most open seven days a week, inside select grocery stores and 2,638 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 22.8% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2014, had $308 billion in assets under care, of which it managed $27 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^® 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 as updated by our Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) general economic conditions and weakening in the economy, specifically the real estate market, either nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of funding and liquidity; (7) maintaining capital requirements and adequate sources of funding and liquidity 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 from Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv, LLC; (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 and deliver products and services 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.

# # #

17

Quarterly Financial Review for December 31, 2014

Table of Contents

Financial Highlights	19-20
Consolidated Statements of Income	21
Consolidated Statements of Income (Taxable Equivalent)	22
Consolidated Balance Sheets	23-24
Consolidated Statements of Changes in Equity	25
Average Balance Sheet and Yield Analysis	26-28
Summary of Loans and Leases	29
Regulatory Capital	30
Summary of Credit Loss Experience	31
Asset Quality	32
Regulation G Non-GAAP Reconciliation	33
Segment Presentation	34

18

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended									% Change						Year to Date						% Change
	December 2014			September 2014			December 2013			Seq			Yr/Yr			December 2014			December 2013			Yr/Yr
Income Statement Data
Net interest income(a)	$	888		$	908		$	905			(2	%)		(2	%)	$	3,600		$	3,581			1	%
Noninterest income		653			520			703			26	%		(7	%)		2,473			3,227			(23	%)
Total revenue(a)		1,541			1,428			1,608			8	%		(4	%)		6,073			6,808			(11	%)
Provision for loan and lease losses		99			71			53			40	%		87	%		315			229			38	%
Noninterest expense		918			888			989			3	%		(7	%)		3,709			3,961			(6	%)
Net income attributable to Bancorp		385			340			402			13	%		(4	%)		1,481			1,836			(19	%)
Net income available to common shareholders		362			328			383			10	%		(6	%)		1,414			1,799			(21	%)
Common Share Data
Earnings per share, basic	$	0.44		$	0.39		$	0.44			13	%		—		$	1.68		$	2.05			(18	%)
Earnings per share, diluted		0.43			0.39			0.43			10	%		—			1.66			2.02			(17	%)
Cash dividends per common share		0.13			0.13			0.12			—			8	%		0.51			0.47			9	%
Book value per share		17.35			16.87			15.85			3	%		9	%		17.35			15.85			9	%
Market price per share		20.38			20.02			21.03			2	%		(3	%)		20.38			21.03			(3	%)
Common shares outstanding (in thousands)		824,047			834,262			855,306			(1	%)		(4	%)		824,047			855,306			(4	%)
Average common shares outstanding (in thousands):
Basic		819,057			829,392			868,077			(1	%)		(6	%)		833,116			869,463			(4	%)
Diluted		827,831			838,324			877,511			(1	%)		(6	%)		842,967			894,736			(6	%)
Market capitalization	$	16,790		$	16,702		$	17,987			1	%		(7	%)	$	16,790		$	17,987			(7	%)
Financial Ratios
Return on average assets		1.13	%		1.02	%		1.24	%		10	%		(10	%)		1.12	%		1.48	%		(24	%)
Return on average common equity		10.0	%		9.2	%		10.8	%		9	%		(7	%)		10.0	%		13.1	%		(24	%)
Return on average tangible common equity(b)(j)		12.1	%		11.1	%		13.1	%		9	%		(8	%)		12.2	%		16.0	%		(24	%)
Noninterest income as a percent of total revenue		42	%		36	%		44	%		16	%		(3	%)		41	%		47	%		(14	%)
Average Bancorp shareholders’ equity as a percent of average assets		11.54	%		11.71	%		11.51	%		(1	%)		—			11.59	%		11.56	%		—
Tangible common equity(c)(d)(j)		8.43	%		8.64	%		8.63	%		(2	%)		(2	%)		8.43	%		8.63	%		(2	%)
Net interest margin(a)		2.96	%		3.10	%		3.21	%		(5	%)		(8	%)		3.10	%		3.32	%		(6	%)
Efficiency(a)		59.6	%		62.1	%		61.5	%		(4	%)		(3	%)		61.1	%		58.2	%		5	%
Effective tax rate		25.9	%		26.7	%		28.4	%		(3	%)		(9	%)		26.9	%		29.7	%		(10	%)
Credit Quality
Net losses charged off	$	191		$	115		$	148			67	%		29	%	$	575		$	501			15	%
Net losses charged off as a percent of average loans and leases		0.83	%		0.50	%		0.67	%		66	%		25	%		0.64	%		0.58	%		10	%
Allowance for loan and lease losses as a percent of portfolio loans and leases		1.47	%		1.56	%		1.79	%		(6	%)		(18	%)		1.47	%		1.79	%		(18	%)
Allowance for credit losses as a percent of portfolio loans and leases		1.62	%		1.71	%		1.97	%		(5	%)		(18	%)		1.62	%		1.97	%		(18	%)
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned(e)		0.82	%		0.88	%		1.10	%		(6	%)		(25	%)		0.82	%		1.10	%		(25	%)
Average Balances
Loans and leases, including held for sale	$	91,581		$	91,428		$	88,865			—			3	%	$	91,127		$	89,093			2	%
Total securities and other short-term investments		27,604			24,927			23,043			11	%		20	%		24,866			18,861			32	%
Total assets		135,580			132,220			128,179			3	%		6	%		131,943			123,732			7	%
Transaction deposits(f)		92,414			89,360			85,740			3	%		8	%		89,715			82,915			8	%
Core deposits(g)		96,350			93,160			89,269			3	%		8	%		93,477			86,675			8	%
Wholesale funding(h)		19,495			19,787			19,069			(1	%)		2	%		19,188			17,797			8	%
Bancorp shareholders’ equity		15,644			15,486			14,757			1	%		6	%		15,290			14,302			7	%
Regulatory Capital Ratios(i)
Tier I risk-based capital		10.83	%		10.83	%		10.43	%		—			4	%		10.83	%		10.43	%		4	%
Total risk-based capital		14.33	%		14.34	%		14.17	%		—			1	%		14.33	%		14.17	%		1	%
Tier I leverage		9.66	%		9.82	%		9.73	%		(2	%)		—			9.66	%		9.73	%		—
Tier I common equity(d)(j)		9.65	%		9.64	%		9.45	%		—			2	%		9.65	%		9.45	%		2	%
Operations
Banking centers		1,302			1,308			1,320			—			(1	%)		1,302			1,320			(1	%)
ATMs		2,638			2,639			2,586			—			2	%		2,638			2,586			2	%
Full-time equivalent employees		18,351			18,503			19,446			(1	%)		(6	%)		18,351			19,446			(6	%)

(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 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.

(j) Non-GAAP measure; see Reg. G reconciliation on page 33.

19

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Income Statement Data
Net interest income(a)	$	888		$	908		$	905		$	898		$	905
Noninterest income		653			520			736			564			703
Total revenue(a)		1,541			1,428			1,641			1,462			1,608
Provision for loan and lease losses		99			71			76			69			53
Noninterest expense		918			888			954			950			989
Net income attributable to Bancorp		385			340			439			318			402
Net income available to common shareholders		362			328			416			309			383
Common Share Data
Earnings per share, basic	$	0.44		$	0.39		$	0.49		$	0.36		$	0.44
Earnings per share, diluted		0.43			0.39			0.49			0.36			0.43
Cash dividends per common share		0.13			0.13			0.13			0.12			0.12
Book value per share		17.35			16.87			16.74			16.27			15.85
Market price per share		20.38			20.02			21.35			22.96			21.03
Common shares outstanding (in thousands)		824,047			834,262			844,489			847,569			855,306
Average common shares outstanding (in thousands):
Basic		819,057			829,392			838,492			845,860			868,077
Diluted		827,831			838,324			848,245			857,924			877,511
Market capitalization	$	16,790		$	16,702		$	18,030		$	19,456		$	17,987
Financial Ratios
Return on average assets		1.13	%		1.02	%		1.34	%		1.00	%		1.24	%
Return on average common equity		10.0	%		9.2	%		11.9	%		9.0	%		10.8	%
Return on average tangible common equity(b)(j)		12.1	%		11.1	%		14.4	%		11.0	%		13.1	%
Noninterest income as a percent of total revenue		42	%		36	%		45	%		39	%		44	%
Average Bancorp shareholders’ equity as a percent of average assets		11.54	%		11.71	%		11.57	%		11.53	%		11.51	%
Tangible common equity(c)(d)(j)		8.43	%		8.64	%		8.74	%		8.79	%		8.63	%
Net interest margin(a)		2.96	%		3.10	%		3.15	%		3.22	%		3.21	%
Efficiency(a)		59.6	%		62.1	%		58.2	%		64.9	%		61.5	%
Effective tax rate		25.9	%		26.7	%		27.6	%		27.3	%		28.4	%
Credit Quality
Net losses charged off	$	191		$	115		$	101		$	168		$	148
Net losses charged off as a percent of average loans and leases		0.83	%		0.50	%		0.45	%		0.76	%		0.67	%
Allowance for loan and lease losses as a percent of portfolio loans and leases		1.47	%		1.56	%		1.61	%		1.65	%		1.79	%
Allowance for credit losses as a percent of portfolio loans and leases		1.62	%		1.71	%		1.77	%		1.82	%		1.97	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned(e)		0.82	%		0.88	%		0.92	%		1.05	%		1.10	%
Average Balances
Loans and leases, including held for sale	$	91,581		$	91,428		$	91,241		$	90,238		$	88,865
Total securities and other short-term investments		27,604			24,927			23,940			22,940			23,043
Total assets		135,580			132,220			130,965			128,930			128,179
Transaction deposits(f)		92,414			89,360			89,148			87,896			85,740
Core deposits(g)		96,350			93,160			92,841			91,512			89,269
Wholesale funding(h)		19,495			19,787			19,204			18,244			19,069
Bancorp shareholders’ equity		15,644			15,486			15,157			14,862			14,757
Regulatory Capital Ratios(i)
Tier I risk-based capital		10.83	%		10.83	%		10.80	%		10.45	%		10.43	%
Total risk-based capital		14.33	%		14.34	%		14.30	%		14.02	%		14.17	%
Tier I leverage		9.66	%		9.82	%		9.86	%		9.71	%		9.73	%
Tier I common equity(d)(j)		9.65	%		9.64	%		9.61	%		9.51	%		9.45	%
Operations
Banking centers		1,302			1,308			1,309			1,311			1,320
ATMs		2,638			2,639			2,619			2,614			2,586
Full-time equivalent employees		18,351			18,503			18,732			19,080			19,446

(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 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.

(j) Non-GAAP measure; see Reg. G reconciliation on page 33.

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended						% Change						Year to Date					% Change
	December 2014		September 2014		December 2013		Seq			Yr/Yr			December 2014		December 2013			Yr/Yr
Interest Income
Interest and fees on loans and leases	$	823	$	827	$	845		(1	%)		(3	%)		3,298		3,447			(4	%)
Interest on securities		185		189		154		(2	%)		20	%		724		520			39	%
Interest on other short-term investments		3		2		3		NM			13	%		8		6			30	%
Total interest income		1,011		1,018		1,002		(1	%)		1	%		4,030		3,973			1	%
Interest Expense
Interest on deposits		54		51		48		7	%		15	%		202		202			—
Interest on other short-term borrowings		—		1		1		(33	%)		(56	%)		2		6			(61	%)
Interest on long-term debt		74		63		53		14	%		36	%		247		204			21	%
Total interest expense		128		115		102		11	%		25	%		451		412			9	%
Net Interest Income		883		903		900		(2	%)		(2	%)		3,579		3,561			1	%
Provision for loan and lease losses		99		71		53		40	%		87	%		315		229			38	%
Net interest income after provision for loan and lease losses		784		832		847		(6	%)		(7	%)		3,264		3,332			(2	%)
Noninterest Income
Service charges on deposits		142		145		142		(2	%)		—			560		549			2	%
Corporate banking revenue		120		100		94		20	%		27	%		430		400			7	%
Mortgage banking net revenue		61		61		126		—			(51	%)		310		700			(56	%)
Investment advisory revenue		100		103		98		(2	%)		2	%		407		393			4	%
Card and processing revenue		76		75		71		2	%		7	%		295		272			8	%
Other noninterest income		150		33		170		NM			(13	%)		450		879			(49	%)
Securities gains, net		4		3		2		15	%		NM			21		21			4	%
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—		—		—		—			—			—		13			(100	%)
Total noninterest income		653		520		703		26	%		(7	%)		2,473		3,227			(23	%)
Noninterest Expense
Salaries, wages and incentives		366		357		388		3	%		(6	%)		1,449		1,581			(8	%)
Employee benefits		79		75		78		5	%		1	%		334		357			(7	%)
Net occupancy expense		77		78		77		(1	%)		—			313		307			2	%
Technology and communications		54		53		53		2	%		2	%		212		204			4	%
Equipment expense		30		30		29		—			3	%		121		114			6	%
Card and processing expense		36		37		37		(1	%)		(2	%)		141		134			5	%
Other noninterest expense		276		258		327		7	%		(16	%)		1,139		1,264			(10	%)
Total noninterest expense		918		888		989		3	%		(7	%)		3,709		3,961			(6	%)
Income before income taxes		519		464		561		11	%		(8	%)		2,028		2,598			(22	%)
Applicable income tax expense		134		124		159		8	%		(16	%)		545		772			(29	%)
Net Income		385		340		402		13	%		(4	%)		1,483		1,826			(19	%)
Less: Net income attributable to noncontrolling interests		—		—		—		NM			NM			2		(10	)		NM
Net income attributable to Bancorp		385		340		402		13	%		(4	%)		1,481		1,836			(19	%)
Dividends on preferred stock		23		12		19		87	%		19	%		67		37			82	%
Net income available to common shareholders	$	362	$	328	$	383		10	%		(6	%)		1,414		1,799			(21	%)

21

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	December 2014		September 2014		June 2014		March 2014		December 2013
Interest Income
Interest and fees on loans and leases	$	823	$	827	$	826	$	823	$	845
Interest on securities		185		189		181		168		154
Interest on other short-term investments		3		2		1		2		3
Total interest income		1,011		1,018		1,008		993		1,002
Taxable equivalent adjustment		5		5		5		5		5
Total interest income (taxable equivalent)		1,016		1,023		1,013		998		1,007
Interest Expense
Interest on deposits		54		51		49		48		48
Interest on other short-term borrowings		—		1		1		1		1
Interest on long-term debt		74		63		58		51		53
Total interest expense		128		115		108		100		102
Net Interest Income (taxable equivalent)		888		908		905		898		905
Provision for loan and lease losses		99		71		76		69		53
Net interest income (taxable equivalent) after provision for loan and lease losses		789		837		829		829		852
Noninterest Income
Service charges on deposits		142		145		139		133		142
Corporate banking revenue		120		100		107		104		94
Mortgage banking net revenue		61		61		78		109		126
Investment advisory revenue		100		103		102		102		98
Card and processing revenue		76		75		76		68		71
Other noninterest income		150		33		226		41		170
Securities gains, net		4		3		8		7		2
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—		—		—		—		—
Total noninterest income		653		520		736		564		703
Noninterest Expense
Salaries, wages and incentives		366		357		368		359		388
Employee benefits		79		75		79		101		78
Net occupancy expense		77		78		79		80		77
Technology and communications		54		53		52		53		53
Equipment expense		30		30		30		30		29
Card and processing expense		36		37		37		31		37
Other noninterest expense		276		258		309		296		327
Total noninterest expense		918		888		954		950		989
Income before income taxes (taxable equivalent)		524		469		611		443		566
Taxable equivalent adjustment		5		5		5		5		5
Income before income taxes		519		464		606		438		561
Applicable income tax expense		134		124		167		119		159
Net Income		385		340		439		319		402
Less: Net Income attributable to noncontrolling interests		—		—		—		1		—
Net income attributable to Bancorp		385		340		439		318		402
Dividends on preferred stock		23		12		23		9		19
Net income available to common shareholders	$	362	$	328	$	416	$	309	$	383

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of									% Change
	December 2014			September 2014			December 2013			Seq			Yr/Yr
Assets
Cash and due from banks	$	3,091		$	3,125		$	3,178			(1	%)		(3	%)
Available-for-sale and other securities(a)		22,408			22,912			18,597			(2	%)		20	%
Held-to-maturity securities(b)		187			191			208			(2	%)		(10	%)
Trading securities		360			389			343			(8	%)		5	%
Other short-term investments		7,914			3,637			5,116			NM			55	%
Loans held for sale		1,261			641			944			97	%		34	%
Portfolio loans and leases:
Commercial and industrial loans		40,765			41,072			39,316			(1	%)		4	%
Commercial mortgage loans		7,399			7,564			8,066			(2	%)		(8	%)
Commercial construction loans		2,069			1,702			1,039			22	%		99	%
Commercial leases		3,720			3,554			3,625			5	%		3	%
Residential mortgage loans		12,389			12,941			12,680			(4	%)		(2	%)
Home equity		8,886			8,987			9,246			(1	%)		(4	%)
Automobile loans		12,037			12,121			11,984			(1	%)		—
Credit card		2,401			2,317			2,294			4	%		5	%
Other consumer loans and leases		418			366			364			14	%		15	%
Portfolio loans and leases		90,084			90,624			88,614			(1	%)		2	%
Allowance for loan and lease losses		(1,322	)		(1,414	)		(1,582	)		(7	%)		(16	%)
Portfolio loans and leases, net		88,762			89,210			87,032			(1	%)		2	%
Bank premises and equipment		2,465			2,467			2,531			—			(3	%)
Operating lease equipment		728			732			730			(1	%)		—
Goodwill		2,416			2,416			2,416			—			—
Intangible assets		15			16			19			(7	%)		(24	%)
Servicing rights		858			935			971			(8	%)		(12	%)
Other assets		8,241			7,517			8,358			10	%		(1	%)
Total assets	$	138,706		$	134,188		$	130,443			3	%		6	%
Liabilities
Deposits:
Demand	$	34,809		$	32,258		$	32,634			8	%		7	%
Interest checking		26,800			24,930			25,875			7	%		4	%
Savings		15,051			15,355			17,045			(2	%)		(12	%)
Money market		17,083			16,199			11,644			5	%		47	%
Foreign office		1,114			1,577			1,976			(29	%)		(44	%)
Other time		3,960			3,856			3,530			3	%		12	%
Certificates—$100,000 and over		2,895			3,117			6,571			(7	%)		(56	%)
Other		—			—			—			NM			NM
Total deposits		101,712			97,292			99,275			5	%		2	%
Federal funds purchased		144			148			284			(2	%)		(49	%)
Other short-term borrowings		1,556			2,730			1,380			(43	%)		13	%
Accrued taxes, interest and expenses		2,020			1,706			1,758			18	%		15	%
Other liabilities		2,642			2,533			3,487			4	%		(24	%)
Long-term debt		14,967			14,336			9,633			4	%		55	%
Total liabilities		123,041			118,745			115,817			4	%		6	%
Equity
Common stock(c)		2,051			2,051			2,051			—			—
Preferred stock		1,331			1,331			1,034			—			29	%
Capital surplus		2,646			2,621			2,561			1	%		3	%
Retained earnings		11,141			10,886			10,156			2	%		10	%
Accumulated other comprehensive income		429			301			82			42	%		NM
Treasury stock		(1,972	)		(1,786	)		(1,295	)		10	%		52	%
Total Bancorp shareholders’ equity		15,626			15,404			14,589			1	%		7	%
Noncontrolling interests		39			39			37			—			3	%
Total Equity		15,665			15,443			14,626			1	%		7	%
Total liabilities and equity	$	138,706		$	134,188		$	130,443			3	%		6	%
(a) Amortized cost	$	21,677		$	22,392		$	18,409			(3	%)		18	%
(b) Market values		187			191			208			(2	%)		(10	%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000			—			—
Outstanding, excluding treasury		824,047			834,262			855,306			(1	%)		(4	%)
Treasury		99,846			89,631			68,587			11	%		46	%

23

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	December 2014			September 2014			June 2014			March 2014			December 2013
Assets
Cash and due from banks	$	3,091		$	3,125		$	3,312		$	3,153		$	3,178
Available-for-sale and other securities(a)		22,408			22,912			22,814			20,749			18,597
Held-to-maturity securities(b)		187			191			194			195			208
Trading securities		360			389			361			347			343
Other short-term investments		7,914			3,637			2,386			2,202			5,116
Loans held for sale		1,261			641			682			780			944
Portfolio loans and leases:
Commercial and industrial loans		40,765			41,072			41,299			40,591			39,316
Commercial mortgage loans		7,399			7,564			7,805			7,958			8,066
Commercial construction loans		2,069			1,702			1,424			1,218			1,039
Commercial leases		3,720			3,554			3,567			3,577			3,625
Residential mortgage loans		12,389			12,941			12,652			12,626			12,680
Home equity		8,886			8,987			9,056			9,125			9,246
Automobile loans		12,037			12,121			12,050			12,088			11,984
Credit card		2,401			2,317			2,261			2,177			2,294
Other consumer loans and leases		418			366			370			345			364
Portfolio loans and leases		90,084			90,624			90,484			89,705			88,614
Allowance for loan and lease losses		(1,322	)		(1,414	)		(1,458	)		(1,483	)		(1,582	)
Portfolio loans and leases, net		88,762			89,210			89,026			88,222			87,032
Bank premises and equipment		2,465			2,467			2,491			2,528			2,531
Operating lease equipment		728			732			667			714			730
Goodwill		2,416			2,416			2,416			2,416			2,416
Intangible assets		15			16			17			18			19
Servicing rights		858			935			931			975			971
Other assets		8,241			7,517			7,265			7,355			8,358
Total assets	$	138,706		$	134,188		$	132,562		$	129,654		$	130,443
Liabilities
Deposits:
Demand	$	34,809		$	32,258		$	32,140		$	31,234		$	32,634
Interest checking		26,800			24,930			24,744			25,472			25,875
Savings		15,051			15,355			16,087			16,867			17,045
Money market		17,083			16,199			14,216			13,208			11,644
Foreign office		1,114			1,577			1,418			1,922			1,976
Other time		3,960			3,856			3,724			3,660			3,530
Certificates—$100,000 and over		2,895			3,117			3,623			4,511			6,571
Other		—			—			—			—			—
Total deposits		101,712			97,292			95,952			96,874			99,275
Federal funds purchased		144			148			153			268			284
Other short-term borrowings		1,556			2,730			3,146			2,717			1,380
Accrued taxes, interest and expenses		2,020			1,706			1,824			1,669			1,758
Other liabilities		2,642			2,533			2,018			2,029			3,487
Long-term debt		14,967			14,336			13,961			11,233			9,633
Total liabilities		123,041			118,745			117,054			114,790			115,817
Equity
Common stock(c)		2,051			2,051			2,051			2,051			2,051
Preferred stock		1,331			1,331			1,331			1,034			1,034
Capital surplus		2,646			2,621			2,613			2,674			2,561
Retained earnings		11,141			10,886			10,666			10,363			10,156
Accumulated other comprehensive income		429			301			382			196			82
Treasury stock		(1,972	)		(1,786	)		(1,574	)		(1,492	)		(1,295	)
Total Bancorp shareholders’ equity		15,626			15,404			15,469			14,826			14,589
Noncontrolling interests		39			39			39			38			37
Total Equity		15,665			15,443			15,508			14,864			14,626
Total liabilities and equity	$	138,706		$	134,188		$	132,562		$	129,654		$	130,443
(a) Amortized cost	$	21,677		$	22,392		$	22,184		$	20,393		$	18,409
(b) Market values		187			191			194			195			208
(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		824,047			834,262			844,489			847,569			855,306
Treasury		99,846			89,631			79,404			76,324			68,587

24

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	December 2014			December 2013			December 2014			December 2013
Total equity, beginning	$	15,443		$	14,680		$	14,626		$	13,764
Net income attributable to Bancorp		385			402			1,481			1,836
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		137			(147	)		354			(291	)
Qualifying cash flow hedges		11			(18	)		10			(37	)
Change in accumulated other comprehensive income related to employee benefit plans		(20	)		29			(17	)		35
Comprehensive income		513			266			1,828			1,543
Cash dividends declared:
Common stock		(107	)		(103	)		(427	)		(407	)
Preferred stock		(23	)		(19	)		(67	)		(37	)
Impact of stock transactions under stock compensation plans, net		19			17			60			60
Shares acquired for treasury		(180	)		(656	)		(654	)		(1,320	)
Issuance of preferred stock		—			442			297			1,035
Noncontrolling interest		—			(1	)		2			(11	)
Other		—			—			—			(1	)
Total equity, ending	$	15,665		$	14,626		$	15,665		$	14,626

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended									% Change
	December 2014			September 2014			December 2013			Seq			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,313		$	41,525		$	38,846			(1	%)		6	%
Commercial mortgage loans		7,482			7,637			8,051			(2	%)		(7	%)
Commercial construction loans		1,911			1,565			955			22	%		NM
Commercial leases		3,601			3,576			3,579			1	%		1	%
Residential mortgage loans		13,526			13,342			13,544			1	%		—
Home equity		8,937			9,009			9,296			(1	%)		(4	%)
Automobile loans		12,073			12,105			12,019			—			—
Credit card		2,324			2,295			2,202			1	%		6	%
Other consumer loans and leases		414			374			373			11	%		11	%
Taxable securities		22,364			22,594			18,383			(1	%)		22	%
Tax exempt securities		64			50			48			27	%		32	%
Other short-term investments		5,176			2,283			4,612			NM			12	%
Total interest-earning assets		119,185			116,355			111,908			2	%		7	%
Cash and due from banks		3,008			2,862			2,956			5	%		2	%
Other assets		14,800			14,461			14,986			2	%		(1	%)
Allowance for loan and lease losses		(1,413	)		(1,458	)		(1,671	)		(3	%)		(15	%)
Total assets	$	135,580		$	132,220		$	128,179			3	%		6	%
Liabilities
Interest-bearing liabilities:
Interest checking	$	25,478		$	24,926		$	24,650			2	%		3	%
Savings		15,173			15,759			17,323			(4	%)		(12	%)
Money market		17,023			15,222			11,285			12	%		51	%
Foreign office		1,439			1,663			1,717			(13	%)		(16	%)
Other time		3,936			3,800			3,529			4	%		12	%
Certificates—$100,000 and over		2,998			3,339			7,456			(10	%)		(60	%)
Other		—			—			—			NM			NM
Federal funds purchased		161			520			301			(69	%)		(47	%)
Other short-term borrowings		1,481			1,973			2,177			(25	%)		(32	%)
Long-term debt		14,855			13,955			9,135			6	%		63	%
Total interest-bearing liabilities		82,544			81,157			77,573			2	%		6	%
Demand deposits		33,301			31,790			30,765			5	%		8	%
Other liabilities		4,052			3,749			5,045			8	%		(20	%)
Total liabilities		119,897			116,696			113,383			3	%		6	%
Equity		15,683			15,524			14,796			1	%		6	%
Total liabilities and equity	$	135,580		$	132,220		$	128,179			3	%		6	%
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		3.21	%		3.25	%		3.46	%
Commercial mortgage loans		3.28	%		3.34	%		3.53	%
Commercial construction loans		3.30	%		3.49	%		3.46	%
Commercial leases		2.96	%		2.96	%		3.10	%
Residential mortgage loans		3.80	%		3.84	%		3.88	%
Home equity		3.68	%		3.69	%		3.62	%
Automobile loans		2.73	%		2.72	%		2.96	%
Credit card		10.08	%		9.87	%		9.90	%
Other consumer loans and leases		31.97	%		36.98	%		43.19	%
Total loans and leases		3.58	%		3.61	%		3.79	%
Taxable securities		3.28	%		3.32	%		3.32	%
Tax exempt securities		4.42	%		5.34	%		5.65	%
Other short-term investments		0.26	%		0.26	%		0.26	%
Total interest-earning assets		3.38	%		3.49	%		3.57	%
Interest-bearing liabilities:
Interest checking		0.22	%		0.22	%		0.22	%
Savings		0.08	%		0.09	%		0.11	%
Money market		0.39	%		0.37	%		0.26	%
Foreign office		0.30	%		0.29	%		0.27	%
Other time		1.14	%		1.07	%		0.98	%
Certificates—$100,000 and over		1.05	%		0.96	%		0.64	%
Other		0.00	%		0.00	%		0.05	%
Federal funds purchased		0.10	%		0.09	%		0.14	%
Other short-term borrowings		0.10	%		0.10	%		0.15	%
Long-term debt		1.94	%		1.80	%		2.32	%
Total interest-bearing liabilities		0.61	%		0.56	%		0.52	%
Ratios:
Net interest margin (taxable equivalent)		2.96	%		3.10	%		3.21	%
Net interest rate spread (taxable equivalent)		2.77	%		2.93	%		3.05	%
Interest-bearing liabilities to interest-earning assets		69.26	%		69.75	%		69.32	%

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date						% Change
	December 2014			December 2013			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,178		$	37,770			9	%
Commercial mortgage loans		7,745			8,481			(9	%)
Commercial construction loans		1,492			793			88	%
Commercial leases		3,585			3,565			1	%
Residential mortgage loans		13,344			14,428			(8	%)
Home equity		9,059			9,554			(5	%)
Automobile loans		12,068			12,021			—
Credit card		2,271			2,121			7	%
Other consumer loans and leases		385			360			7	%
Taxable securities		21,770			16,395			33	%
Tax exempt securities		53			49			8	%
Other short-term investments		3,043			2,417			26	%
Total interest-earning assets		115,993			107,954			7	%
Cash and due from banks		2,892			2,482			17	%
Other assets		14,539			15,053			(3	%)
Allowance for loan and lease losses		(1,481	)		(1,757	)		(16	%)
Total assets		131,943			123,732			7	%
Liabilities
Interest-bearing liabilities:
Interest checking		25,382			23,582			8	%
Savings		16,080			18,440			(13	%)
Money market		14,670			9,467			55	%
Foreign office		1,828			1,501			22	%
Other time		3,762			3,760			—
Certificates—$100,000 and over		3,929			6,339			(38	%)
Other		—			17			(100	%)
Federal funds purchased		458			503			(9	%)
Other short-term borrowings		1,873			3,024			(38	%)
Long-term debt		12,928			7,914			63	%
Total interest-bearing liabilities		80,910			74,547			9	%
Demand deposits		31,755			29,925			6	%
Other liabilities		3,950			4,917			(20	%)
Total liabilities		116,615			109,389			7	%
Equity		15,328			14,343			7	%
Total liabilities and equity		131,943			123,732			7	%
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		3.27	%		3.60	%		(9	%)
Commercial mortgage loans		3.36	%		3.60	%		(7	%)
Commercial construction loans		3.44	%		3.45	%		—
Commercial leases		3.01	%		3.26	%		(8	%)
Residential mortgage loans		3.88	%		3.91	%		(1	%)
Home equity		3.71	%		3.71	%		—
Automobile loans		2.77	%		3.10	%		(11	%)
Credit card		9.98	%		9.87	%		1	%
Other consumer loans and leases		35.99	%		42.93	%		(16	%)
Total loans and leases		3.64	%		3.89	%		(6	%)
Taxable securities		3.32	%		3.16	%		5	%
Tax exempt securities		4.94	%		5.29	%		(7	%)
Other short-term investments		0.26	%		0.26	%		3	%
Total interest-earning assets		3.49	%		3.70	%		(6	%)
Interest-bearing liabilities:
Interest checking		0.22	%		0.23	%
Savings		0.10	%		0.12	%
Money market		0.35	%		0.25	%
Foreign office		0.29	%		0.28	%
Other time		1.06	%		1.33	%
Certificates—$100,000 and over		0.85	%		0.78	%
Other		0.02	%		0.11	%
Federal funds purchased		0.09	%		0.12	%
Other short-term borrowings		0.10	%		0.18	%
Long-term debt		1.91	%		2.58	%
Total interest-bearing liabilities		0.56	%		0.55	%
Ratios:
Net interest margin (taxable equivalent)		3.10	%		3.32	%
Net interest rate spread (taxable equivalent)		2.94	%		3.15	%
Interest-bearing liabilities to interest-earning assets		69.75	%		69.05	%

27

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,313		$	41,525		$	41,451		$	40,409		$	38,846
Commercial mortgage loans		7,482			7,637			7,886			7,983			8,051
Commercial construction loans		1,911			1,565			1,364			1,118			955
Commercial leases		3,601			3,576			3,556			3,607			3,579
Residential mortgage loans		13,526			13,342			13,202			13,304			13,544
Home equity		8,937			9,009			9,101			9,194			9,296
Automobile loans		12,073			12,105			12,070			12,023			12,019
Credit card		2,324			2,295			2,232			2,230			2,202
Other consumer loans and leases		414			374			379			370			373
Taxable securities		22,364			22,594			21,706			20,385			18,383
Tax exempt securities		64			50			52			46			48
Other short-term investments		5,176			2,283			2,182			2,509			4,612
Total interest-earning assets		119,185			116,355			115,181			113,178			111,908
Cash and due from banks		3,008			2,862			2,847			2,850			2,956
Other assets		14,800			14,461			14,417			14,478			14,986
Allowance for loan and lease losses		(1,413	)		(1,458	)		(1,480	)		(1,576	)		(1,671	)
Total assets	$	135,580		$	132,220		$	130,965		$	128,930		$	128,179
Liabilities
Interest-bearing liabilities:
Interest checking	$	25,478		$	24,926		$	25,222		$	25,911		$	24,650
Savings		15,173			15,759			16,509			16,903			17,323
Money market		17,023			15,222			13,942			12,439			11,285
Foreign office		1,439			1,663			2,200			2,017			1,717
Other time		3,936			3,800			3,693			3,616			3,529
Certificates—$100,000 and over		2,998			3,339			3,840			5,576			7,456
Other		—			—			—			—			—
Federal funds purchased		161			520			606			547			301
Other short-term borrowings		1,481			1,973			2,234			1,808			2,177
Long-term debt		14,855			13,955			12,524			10,313			9,135
Total interest-bearing liabilities		82,544			81,157			80,770			79,130			77,573
Demand deposits		33,301			31,790			31,275			30,626			30,765
Other liabilities		4,052			3,749			3,724			4,274			5,045
Total liabilities		119,897			116,696			115,769			114,030			113,383
Equity		15,683			15,524			15,196			14,900			14,796
Total liabilities and equity	$	135,580		$	132,220		$	130,965		$	128,930		$	128,179
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		3.21	%		3.25	%		3.27	%		3.35	%		3.46	%
Commercial mortgage loans		3.28	%		3.34	%		3.39	%		3.43	%		3.53	%
Commercial construction loans		3.30	%		3.49	%		3.54	%		3.48	%		3.46	%
Commercial leases		2.96	%		2.96	%		3.04	%		3.09	%		3.10	%
Residential mortgage loans		3.80	%		3.84	%		3.93	%		3.94	%		3.88	%
Home equity		3.68	%		3.69	%		3.71	%		3.74	%		3.62	%
Automobile loans		2.73	%		2.72	%		2.77	%		2.86	%		2.96	%
Credit card		10.08	%		9.87	%		10.06	%		9.90	%		9.90	%
Other consumer loans and leases		31.97	%		36.98	%		35.63	%		39.93	%		43.19	%
Total loans and leases		3.58	%		3.61	%		3.65	%		3.72	%		3.79	%
Taxable securities		3.28	%		3.32	%		3.34	%		3.33	%		3.32	%
Tax exempt securities		4.42	%		5.34	%		4.69	%		5.51	%		5.65	%
Other short-term investments		0.26	%		0.26	%		0.28	%		0.26	%		0.26	%
Total interest-earning assets		3.38	%		3.49	%		3.53	%		3.58	%		3.57	%
Interest-bearing liabilities:
Interest checking		0.22	%		0.22	%		0.22	%		0.23	%		0.22	%
Savings		0.08	%		0.09	%		0.11	%		0.11	%		0.11	%
Money market		0.39	%		0.37	%		0.33	%		0.28	%		0.26	%
Foreign office		0.30	%		0.29	%		0.29	%		0.29	%		0.27	%
Other time		1.14	%		1.07	%		1.03	%		0.99	%		0.98	%
Certificates—$100,000 and over		1.05	%		0.96	%		0.83	%		0.70	%		0.64	%
Other		0.00	%		0.00	%		0.00	%		0.05	%		0.05	%
Federal funds purchased		0.10	%		0.09	%		0.10	%		0.10	%		0.14	%
Other short-term borrowings		0.10	%		0.10	%		0.10	%		0.10	%		0.15	%
Long-term debt		1.94	%		1.80	%		1.89	%		2.04	%		2.32	%
Total interest-bearing liabilities		0.61	%		0.56	%		0.54	%		0.51	%		0.52	%
Ratios:
Net interest margin (taxable equivalent)		2.96	%		3.10	%		3.15	%		3.22	%		3.21	%
Net interest rate spread (taxable equivalent)		2.77	%		2.93	%		2.99	%		3.07	%		3.05	%
Interest-bearing liabilities to interest-earning assets		69.26	%		69.75	%		70.12	%		69.92	%		69.32	%

28

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	December 2014		September 2014		June 2014		March 2014		December 2013
Average Loans and Leases
Commercial:
Commercial and industrial loans	$	41,277	$	41,477	$	41,374	$	40,377	$	38,835
Commercial mortgage loans		7,480		7,633		7,885		7,981		8,047
Commercial construction loans		1,909		1,563		1,362		1,116		952
Commercial leases		3,600		3,571		3,555		3,607		3,578
Subtotal—commercial		54,266		54,244		54,176		53,081		51,412
Consumer:
Residential mortgage loans		13,046		12,785		12,611		12,659		12,609
Home equity		8,937		9,009		9,101		9,194		9,296
Automobile loans		12,073		12,105		12,070		12,023		12,019
Credit card		2,324		2,295		2,232		2,230		2,202
Other consumer loans and leases		395		361		359		343		357
Subtotal—consumer		36,775		36,555		36,373		36,449		36,483
Total average loans and leases (excluding held for sale)	$	91,041	$	90,799	$	90,549	$	89,530	$	87,895
Average loans held for sale		540		629		692		708		970
End of Period Loans and Leases
Commercial:
Commercial and industrial loans	$	40,765	$	41,072	$	41,299	$	40,591	$	39,316
Commercial mortgage loans		7,399		7,564		7,805		7,958		8,066
Commercial construction loans		2,069		1,702		1,424		1,218		1,039
Commercial leases		3,720		3,554		3,567		3,577		3,625
Subtotal—commercial		53,953		53,892		54,095		53,344		52,046
Consumer:
Residential mortgage loans		12,389		12,941		12,652		12,626		12,680
Home equity		8,886		8,987		9,056		9,125		9,246
Automobile loans		12,037		12,121		12,050		12,088		11,984
Credit card		2,401		2,317		2,261		2,177		2,294
Other consumer loans and leases		418		366		370		345		364
Subtotal—consumer		36,131		36,732		36,389		36,361		36,568
Total portfolio loans and leases	$	90,084	$	90,624	$	90,484	$	89,705	$	88,614
Core business activity		590		634		677		776		938
Portfolio management activity		671		7		5		4		6
Total loans held for sale		1,261		641		682		780		944
Operating lease equipment		728		732		667		714		730
Loans and Leases Serviced for Others:(a)
Commercial and industrial loans		637		620		649		702		685
Commercial mortgage loans		270		274		277		280		274
Commercial construction loans		20		22		39		35		43
Commercial leases		283		267		235		223		227
Residential mortgage loans		65,413		66,808		68,085		68,909		69,159
Automobile loans		232		263		297		334		370
Total loans and leases serviced for others		66,855		68,254		69,582		70,483		70,758
Total loans and leases serviced	$	158,928	$	160,251	$	161,415	$	161,682	$	161,046

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

29

Fifth Third Bancorp and Subsidiaries

Regulatory Capital^(a)

$ in millions

(unaudited)

	As of
	December 2014			September 2014			June 2014			March 2014			December 2013
Tier I capital:
Bancorp shareholders’ equity		15,626			15,404			15,469			14,826			14,589
Goodwill and certain other intangibles		(2,476	)		(2,484	)		(2,484	)		(2,490	)		(2,492	)
Unrealized (gains) losses		(429	)		(301	)		(382	)		(196	)		(82	)
Qualifying trust preferred securities		60			60			60			60			60
Other		(17	)		(18	)		(19	)		(18	)		19
Total tier I capital		12,764			12,661			12,644			12,182			12,094
Total risk-based capital:
Tier I capital		12,764			12,661			12,644			12,182			12,094
Qualifying allowance for credit losses		1,475			1,466			1,466			1,461			1,454
Qualifying subordinated notes		2,657			2,637			2,635			2,713			2,883
Total risk-based capital		16,896			16,764			16,745			16,356			16,431
Risk-weighted assets(b)		117,887			116,917			117,117			116,622			115,969
Ratios:
Average shareholders’ equity to average assets		11.54	%		11.71	%		11.57	%		11.53	%		11.51	%
Regulatory capital:
Fifth Third Bancorp
Tier I risk-based capital		10.83	%		10.83	%		10.80	%		10.45	%		10.43	%
Total risk-based capital		14.33	%		14.34	%		14.30	%		14.02	%		14.17	%
Tier I leverage		9.66	%		9.82	%		9.86	%		9.71	%		9.73	%
Tier I common equity(c)		9.65	%		9.64	%		9.61	%		9.51	%		9.45	%
Fifth Third Bank
Tier I risk-based capital		11.85	%		11.87	%		11.79	%		11.65	%		11.59	%
Total risk-based capital		13.10	%		13.12	%		13.04	%		12.91	%		12.94	%
Tier I leverage		10.58	%		10.77	%		10.77	%		10.84	%		10.83	%

(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 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) The tier I common equity ratio while not required by U.S. GAAP, is considered to be an important metric with which to analyze a bank’s position. The ratio has been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition.

30

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Average loans and leases (excluding held for sale):
Commercial and industrial loans	$	41,277		$	41,477		$	41,374		$	40,377		$	38,835
Commercial mortgage loans		7,480			7,633			7,885			7,981			8,047
Commercial construction loans		1,909			1,563			1,362			1,116			952
Commercial leases		3,600			3,571			3,555			3,607			3,578
Residential mortgage loans		13,046			12,785			12,611			12,659			12,609
Home equity		8,937			9,009			9,101			9,194			9,296
Automobile loans		12,073			12,105			12,070			12,023			12,019
Credit card		2,324			2,295			2,232			2,230			2,202
Other consumer loans and leases		395			361			359			343			357
Total average loans and leases (excluding held for sale)	$	91,041		$	90,799		$	90,549		$	89,530		$	87,895
Losses charged off:
Commercial and industrial loans		($50	)		($62	)		($36	)		($100	)		($78	)
Commercial mortgage loans		(12	)		(10	)		(11	)		(5	)		(13	)
Commercial construction loans		—			—			(8	)		(5	)		(4	)
Commercial leases		(1	)		—			—			—			—
Residential mortgage loans		(97	)		(12	)		(11	)		(19	)		(15	)
Home equity		(15	)		(18	)		(22	)		(20	)		(30	)
Automobile loans		(11	)		(11	)		(10	)		(12	)		(11	)
Credit card		(23	)		(26	)		(24	)		(22	)		(24	)
Other consumer loans and leases		(6	)		(7	)		(5	)		(7	)		(8	)
Total losses		(215	)		(146	)		(127	)		(190	)		(183	)
Recoveries of losses previously charged off:
Commercial and industrial loans		6			12			5			3			12
Commercial mortgage loans		2			5			2			2			5
Commercial construction loans		—			—			—			—			—
Commercial leases		—			—			—			—			—
Residential mortgage loans		3			3			3			4			2
Home equity		4			4			4			4			4
Automobile loans		4			4			5			4			5
Credit card		3			3			3			3			3
Other consumer loans and leases		2			—			4			2			4
Total recoveries		24			31			26			22			35
Net losses charged off:
Commercial and industrial loans		(44	)		(50	)		(31	)		(97	)		(66	)
Commercial mortgage loans		(10	)		(5	)		(9	)		(3	)		(8	)
Commercial construction loans		—			—			(8	)		(5	)		(4	)
Commercial leases		(1	)		—			—			—			—
Residential mortgage loans		(94	)		(9	)		(8	)		(15	)		(13	)
Home equity		(11	)		(14	)		(18	)		(16	)		(26	)
Automobile loans		(7	)		(7	)		(5	)		(8	)		(6	)
Credit card		(20	)		(23	)		(21	)		(19	)		(21	)
Other consumer loans and leases		(4	)		(7	)		(1	)		(5	)		(4	)
Total net losses charged off		($191	)		($115	)		($101	)		($168	)		($148	)
Net charge-off ratios:
Commercial and industrial loans		0.43	%		0.48	%		0.30	%		0.97	%		0.67	%
Commercial mortgage loans		0.53	%		0.24	%		0.44	%		0.16	%		0.40	%
Commercial construction loans		(0.01	%)		(0.11	%)		2.26	%		1.66	%		1.65	%
Commercial leases		0.06	%		0.00	%		0.00	%		(0.03	%)		(0.01	%)
Residential mortgage loans		2.87	%		0.28	%		0.24	%		0.49	%		0.39	%
Home equity		0.47	%		0.63	%		0.80	%		0.72	%		1.09	%
Automobile loans		0.22	%		0.24	%		0.15	%		0.29	%		0.20	%
Credit card		3.40	%		3.89	%		3.71	%		3.41	%		3.69	%
Other consumer loans and leases		4.57	%		8.13	%		4.08	%		6.58	%		6.03	%
Total net charge-off ratio		0.83	%		0.50	%		0.45	%		0.76	%		0.67	%

31

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,414		$	1,458		$	1,483		$	1,582		$	1,677
Total net losses charged off		(191	)		(115	)		(101	)		(168	)		(148	)
Provision for loan and lease losses		99			71			76			69			53
Allowance for loan and lease losses, ending	$	1,322		$	1,414		$	1,458		$	1,483		$	1,582
Reserve for unfunded commitments, beginning	$	134		$	142		$	153		$	162		$	167
Provision (benefit) for unfunded commitments		1			(8	)		(11	)		(9	)		(5	)
Reserve for unfunded commitments, ending	$	135		$	134		$	142		$	153		$	162
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,322		$	1,414		$	1,458		$	1,483		$	1,582
Reserve for unfunded commitments		135			134			142			153			162
Total allowance for credit losses	$	1,457		$	1,548		$	1,600		$	1,636		$	1,744
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	86		$	102		$	103		$	153		$	127
Commercial mortgage loans		64			77			86			96			90
Commercial construction loans		—			2			3			3			10
Commercial leases		3			3			2			3			3
Residential mortgage loans		44			52			56			68			83
Home equity		72			69			73			75			74
Automobile loans		—			—			—			—			—
Other consumer loans and leases		—			—			—			—			—
Total nonaccrual portfolio loans and leases (excludes restructured loans)		269			305			323			398			387
Restructured loans—commercial (nonaccrual)		214			201			202			209			228
Restructured loans—consumer (nonaccrual)		96			114			115			126			136
Total nonaccrual portfolio loans and leases		579			620			640			733			751
Repossessed property		18			19			18			6			7
Other real estate owned(b)		147			157			174			207			222
Total nonperforming assets(a)		744			796			832			946			980
Nonaccrual loans held for sale		24			4			5			3			6
Restructured loans—(nonaccrual) held for sale		15			3			—			—			—
Total nonperforming assets including loans held for sale	$	783		$	803		$	837		$	949		$	986
Restructured portfolio consumer loans and leases (accrual)	$	905		$	1,610		$	1,623		$	1,682		$	1,685
Restructured portfolio commercial loans and leases (accrual)	$	844		$	885		$	914		$	847		$	869
Ninety days past due loans and leases:
Commercial and industrial loans	$	—		$	—		$	—		$	1		$	—
Commercial mortgage loans		—			1			—			—			—
Commercial construction loans		—			—			—			—			—
Commercial leases		—			—			—			—			—
Total commercial loans and leases		—			1			—			1			—
Residential mortgage loans		56			57			60			56			66
Home equity		—			—			—			—			—
Automobile loans		8			8			8			7			8
Credit card		23			21			26			30			29
Other consumer loans and leases		—			—			—			—			—
Total consumer loans and leases		87			86			94			93			103
Total ninety days past due loans and leases(c)	$	87		$	87		$	94		$	94		$	103
Ratios
Net losses charged off as a percent of average loans and leases		0.83	%		0.50	%		0.45	%		0.76	%		0.67	%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases		1.47	%		1.56	%		1.61	%		1.65	%		1.79	%
As a percent of nonperforming loans and leases(a)		228	%		228	%		228	%		202	%		211	%
As a percent of nonperforming assets(a)		178	%		178	%		175	%		157	%		161	%
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets , including other real estate owned(a)		0.64	%		0.68	%		0.70	%		0.82	%		0.84	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned(a)		0.82	%		0.88	%		0.92	%		1.05	%		1.10	%
Nonperforming assets as a percent of total loans, leases and other assets, including other real estate owned		0.86	%		0.88	%		0.92	%		1.05	%		1.10	%
Allowance for credit losses as a percent of nonperforming assets		196	%		195	%		192	%		173	%		178	%

(a) Does not include nonaccrual loans held for sale

(b) Excludes OREO related to government insured loans

(c) Does not include loans held for sale

32

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

	For the Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013
Income before income taxes (U.S. GAAP)	$	519		$	464		$	606		$	438		$	561
Add: Provision expense (U.S. GAAP)		99			71			76			69			53
Pre-provision net revenue		618			535			682			507			614
Net income available to common shareholders (U.S. GAAP)		362			328			416			309			383
Add: Intangible amortization, net of tax		1			1			1			1			1
Tangible net income available to common shareholders		363			329			417			310			384
Tangible net income available to common shareholders (annualized) (a)		1,440			1,305			1,673			1,257			1,523
Average Bancorp shareholders’ equity (U.S. GAAP)		15,644			15,486			15,157			14,862			14,757
Less: Average preferred stock		(1,331	)		(1,331	)		(1,119	)		(1,034	)		(703	)
Average goodwill		(2,416	)		(2,416	)		(2,416	)		(2,416	)		(2,416	)
Average intangible assets and other servicing rights		(17	)		(16	)		(17	)		(19	)		(20	)
Average tangible common equity (b)		11,880			11,723			11,605			11,393			11,618
Total Bancorp shareholders’ equity (U.S. GAAP)		15,626			15,404			15,469			14,826			14,589
Less: Preferred stock		(1,331	)		(1,331	)		(1,331	)		(1,034	)		(1,034	)
Goodwill		(2,416	)		(2,416	)		(2,416	)		(2,416	)		(2,416	)
Intangible assets and other servicing rights		(16	)		(16	)		(17	)		(18	)		(19	)
Tangible common equity, including unrealized gains / losses (c)		11,863			11,641			11,705			11,358			11,120
Less: Accumulated other comprehensive income		(429	)		(301	)		(382	)		(196	)		(82	)
Tangible common equity, excluding unrealized gains / losses (d)		11,434			11,340			11,323			11,162			11,038
Add: Preferred stock		1,331			1,331			1,331			1,034			1,034
Tangible equity (e)		12,765			12,671			12,654			12,196			12,072
Total assets (U.S. GAAP)		138,706			134,188			132,562			129,654			130,443
Less: Goodwill		(2,416	)		(2,416	)		(2,416	)		(2,416	)		(2,416	)
Intangible assets and other servicing rights		(16	)		(16	)		(17	)		(18	)		(19	)
Tangible assets, including unrealized gains / losses (f)		136,274			131,756			130,129			127,220			128,008
Less: Accumulated other comprehensive income / loss, before tax		(660	)		(463	)		(588	)		(302	)		(126	)
Tangible assets, excluding unrealized gains / losses (g)		135,614			131,293			129,541			126,918			127,882
Total Bancorp shareholders’ equity (U.S. GAAP)		15,626			15,404			15,469			14,826			14,589
Goodwill and certain other intangibles		(2,476	)		(2,484	)		(2,484	)		(2,490	)		(2,492	)
Unrealized gains		(429	)		(301	)		(382	)		(196	)		(82	)
Qualifying trust preferred securities		60			60			60			60			60
Other		(17	)		(18	)		(19	)		(18	)		19
Tier I capital		12,764			12,661			12,644			12,182			12,094
Less: Preferred stock		(1,331	)		(1,331	)		(1,331	)		(1,034	)		(1,034	)
Qualifying trust preferred securities		(60	)		(60	)		(60	)		(60	)		(60	)
Qualifying noncontrolling interests in consolidated subsidiaries		(1	)		(1	)		(1	)		(1	)		(37	)
Tier I common equity (h)		11,372			11,269			11,252			11,087			10,963
Common shares outstanding (i)		824			834			844			848			855
Risk-weighted assets, determined in accordance with
prescribed regulatory requirements (j)		117,887			116,917			117,117			116,622			115,969
Ratios:
Return on average tangible common equity (a) / (b)		12.1	%		11.1	%		14.4	%		11.0	%		13.1	%
Tangible equity (e) / (g)		9.41	%		9.65	%		9.77	%		9.61	%		9.44	%
Tangible common equity (excluding unrealized gains/losses) (d) / (g)		8.43	%		8.64	%		8.74	%		8.79	%		8.63	%
Tangible common equity (including unrealized gains/losses) (c) / (f)		8.71	%		8.84	%		9.00	%		8.93	%		8.69	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (d) / (j)		9.70	%		9.70	%		9.67	%		9.57	%		9.52	%
Tangible book value per share (c) / (i)	$	14.40		$	13.95		$	13.86		$	13.40		$	13.00
Tier I common equity (h) / (j)		9.65	%		9.64	%		9.61	%		9.51	%		9.45	%
Basel III-Estimated Tier I common equity ratio
	December 2014			September 2014			June 2014			March 2014			December 2013
Tier I common equity (Basel I)		11,372			11,269			11,252			11,087			10,963
Add: Adjustment related to capital components		84			99			96			99			82
Estimated Tier I common equity under final Basel III rules without AOCI (opt out)(k)		11,456			11,368			11,348			11,186			11,045
Add: Adjustment related to AOCI		429			301			382			196			82
Estimated Tier I common equity under final Basel III rules with AOCI (non opt out)(l)		11,885			11,669			11,730			11,382			11,127
Estimated risk-weighted assets under final Basel III rules (m)		122,027			121,219			122,465			122,659			122,074
Estimated Tier I common equity ratio under final Basel III rules (opt out) (k) / (m)		9.39	%		9.38	%		9.27	%		9.12	%		9.05	%
Estimated Tier I common equity ratio under final Basel III rules (non opt out) (l) / (m)		9.74	%		9.63	%		9.58	%		9.28	%		9.12	%

(k)(l) Under the final Basel III rules, non-advanced approach banks are permitted to make a one-time election to opt out of the requirement to include AOCI in Tier I common equity. Other adjustments include mortgage servicing rights and deferred tax assets subject to threshold limitations and deferred tax liabilities related to intangible assets.

(m) Key differences under Basel III in the calculation of risk-weighted assets compared to Basel I include: (1) Risk weighting for commitments under 1 year; (2) Higher risk weighting for exposures to securitizations, past due loans, foreign banks and certain commercial real estate; (3) Higher risk weighting for mortgage servicing rights and deferred tax assets that are under certain thresholds as a percent of Tier I capital; and (4) Derivatives are differentiated between exchange clearing and over-the-counter and the 50% risk-weight cap is removed.

33

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended December 31, 2014	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income(a)	$	427		$	395		$	64		$	31		($	29	)	$	888
Provision for loan and lease losses		(49	)		(40	)		(101	)		(1	)		92			(99	)
Net interest income after provision for loan and lease losses		378			355			(37	)		30			63			789
Total noninterest income		239			186			69			102			57			653
Total noninterest expense		(331	)		(385	)		(107	)		(111	)		16			(918	)
Net income before taxes		286			156			(75	)		21			136			524
Applicable income taxes(a)		(58	)		(55	)		26			(7	)		(45	)		(139	)
Net income		228			101			(49	)		14			91			385
Net income attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		228			101			(49	)		14			91			385
Dividends on preferred stock		—			—			—			—			23			23
Net income available to common shareholders	$	228		$	101		($	49	)	$	14		$	68		$	362
For the three months ended September 30, 2014	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income(a)	$	423		$	389		$	64		$	30		$	2		$	908
Provision for loan and lease losses		(47	)		(50	)		(17	)		(1	)		44			(71	)
Net interest income after provision for loan and lease losses		376			339			47			29			46			837
Total noninterest income		218			194			70			102			(64	)		520
Total noninterest expense		(322	)		(393	)		(115	)		(111	)		53			(888	)
Net income before taxes		272			140			2			20			35			469
Applicable income taxes(a)		(55	)		(49	)		(1	)		(7	)		(17	)		(129	)
Net income		217			91			1			13			18			340
Net income attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		217			91			1			13			18			340
Dividends on preferred stock		—			—			—			—			12			12
Net income available to common shareholders	$	217		$	91		$	1		$	13		$	6		$	328
For the three months ended June 30, 2014	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income(a)	$	414		$	377		$	65		$	29		$	20		$	905
Provision for loan and lease losses		(40	)		(47	)		(13	)		(1	)		25			(76	)
Net interest income after provision for loan and lease losses		374			330			52			28			45			829
Total noninterest income		219			170			89			101			157			736
Total noninterest expense		(330	)		(384	)		(164	)		(111	)		35			(954	)
Net income before taxes		263			116			(23	)		18			237			611
Applicable income taxes(a)		(49	)		(41	)		8			(6	)		(84	)		(172	)
Net income		214			75			(15	)		12			153			439
Net income attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		214			75			(15	)		12			153			439
Dividends on preferred stock		—			—			—			—			23			23
Net income available to common shareholders	$	214		$	75		($	15	)	$	12		$	130		$	416
For the three months ended March 31, 2014	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income(a)	$	409		$	385		$	64		$	32		$	8		$	898
Provision for loan and lease losses		(97	)		(45	)		(25	)		—			98			(69	)
Net interest income after provision for loan and lease losses		312			340			39			32			106			829
Total noninterest income		210			172			118			103			(39	)		564
Total noninterest expense		(334	)		(390	)		(166	)		(110	)		50			(950	)
Net income before taxes		188			122			(9	)		25			117			443
Applicable income taxes(a)		(24	)		(42	)		3			(8	)		(53	)		(124	)
Net income		164			80			(6	)		17			64			319
Net income attributable to noncontrolling interest		—			—			—			—			1			1
Net income attributable to Bancorp		164			80			(6	)		17			63			318
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders	$	164		$	80		($	6	)	$	17		$	54		$	309
For the three months ended December 31, 2013(b)	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income(a)	$	426		$	354		$	66		$	45		$	14		$	905
Provision for loan and lease losses		(73	)		(54	)		(21	)		—			95			(53	)
Net interest income after provision for loan and lease losses		353			300			45			45			109			852
Total noninterest income		201			187			133			100			82			703
Total noninterest expense		(323	)		(397	)		(130	)		(108	)		(31	)		(989	)
Net income before taxes		231			90			48			37			160			566
Applicable income taxes(a)		(42	)		(32	)		(16	)		(13	)		(61	)		(164	)
Net income		189			58			32			24			99			402
Net income attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		189			58			32			24			99			402
Dividends on preferred stock		—			—			—			—			19			19
Net income available to common shareholders	$	189		$	58		$	32		$	24		$	80		$	383

(a) Includes taxable equivalent adjustments of $5 million from the three months ended December 31, 2014, $5 million for the three months ended September 30, 2014, $5 million for the three months ended June 30, 2014, $5 million for the three months ended March 31, 2014 and $5 million for the three months ended December 31, 2013.

(b) Prior period balances have been adjusted for changes in the structure of the reporting units.

34

EX-99.2

©

Fifth Third Bank | All Rights Reserved

4Q14 Earnings Conference Call

January 21, 2015

Refer to earnings release dated January 21, 2015 for further information.

Exhibit 99.2

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

as

updated

by

our

Quarterly

Reports

on

Form

10-Q.

When

considering

these

forward-looking

statements,

you

should

keep

in

mind

these

risks

and

uncertainties,

as

well

as

any

cautionary

statements

we

may

make.

Moreover,

you

should

treat

these

statements

as

speaking

only

as

of

the

date

they

are

made

and

based

only

on

information

then

actually

known

to

us.

There

are

a

number

of

important

factors

that

could

cause

future

results

to

differ

materially

from

historical

performance

and

these

forward-

looking

statements.

Factors

that

might

cause

such

a

difference

include,

but

are

not

limited

to:

(1)

general

economic

conditions

and

weakening

in

the

economy,

specifically

the

real

estate

market,

either

nationally

or

in

the

states

in

which

Fifth

Third,

one

or

more

acquired

entities

and/or

the

combined

company

do

business,

are

less

favorable

than

expected;

(2)

deteriorating

credit

quality;

(3)

political

developments,

wars

or

other

hostilities

may

disrupt

or

increase

volatility

in

securities

markets

or

other

economic

conditions;

(4)

changes

in

the

interest

rate

environment

reduce

interest

margins;

(5)

prepayment

speeds,

loan

origination

and

sale

volumes,

charge-offs

and

loan

loss

provisions;

(6)

Fifth

Third’s

ability

to

maintain

required

capital

levels

and

adequate

sources

of

funding

and

liquidity;

(7)

maintaining

capital

requirements

and

adequate

sources

of

funding

and

liquidity

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

from

Fifth

Third’s

investment

in,

relationship

with,

and

nature

of

the

operations

of

Vantiv,

LLC;

(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

and

deliver

products

and

services

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

©

Fifth Third Bank | All Rights Reserved

4Q14 in review

Balancing current earnings results with prudent decisions to increase long-term shareholder value

($ in millions)

4Q14

Seq.

YOY

Average Balances

Total loans & leases

1

$91,041

$242

$3,146

Core deposits

$96,350

$3,190

$7,081

Income Statement Data

Net interest income (taxable equivalent)

$888

(2%)

(2%)

Provision for loan and lease losses

99

40%

87%

Noninterest income

653

26%

(7%)

Noninterest expense

918

3%

(7%)

Net income attributable to Bancorp

$385

13%

(4%)

Net income available to common

shareholders

$362

10%

(6%)

Financial Ratios

Earnings per share, diluted

0.43

10%

-

Net interest margin

2.96%

(14bps)

(25bps)

Efficiency ratio

59.6%

(250bps)

(190bps)

Return on average assets

1.13%

11bps

(11bps)

Return on avg common equity

10.0%

80bps

(80bps)

Return

on

avg

tangible

common

equity

2

12.1%

100bps

(100bps)

Tangible

book

value

per

share

2

$14.40

3%

11%

Note:

The

percentages

in

all

of

the

tables

in

this

presentation

are

calculated

on

actual

dollar

amounts

and

not

the

rounded

dollar

amounts.

1

Excludes loans held-for-sale

2

Non-GAAP measure; see Reg. G reconciliation in appendix

Significant pre-tax items in 4Q14 results:

—

$56MM positive valuation

adjustment on Vantiv warrant

—

$23MM of provision expense related

to the transfer of $720MM

residential mortgage TDRs to held-

for-sale

—

$19MM negative valuation

adjustment on Visa total return

swap

2014 operating results reflect core

deposit growth, conservative lending,

and well-controlled expenses

Credit quality continues to improve

—

Excluding $87MM of NCOs related

to TDR transfer, NCOs down 10%

compared with 3Q14

—

NPAs down 7% compared with

3Q14

Strong capital ratios; tangible book

value per share²

up 11% from 4Q13

4

©

Fifth Third Bank | All Rights Reserved

Balance sheet

Loan balances ($B)

•

Continuing to target prudent risk/reward

profile in lending

•

Average commercial loans flat

sequentially and up 6% year-over-year

–

Year-over-year commercial loan

growth driven primarily by C&I and

commercial construction, partially

offset by lower commercial mortgage

–

End of period commercial line

utilization 32%; flat sequentially

•

Consumer loan growth driven by

residential mortgage and bankcard

•

Average transaction deposits up $3.1

billion sequentially with increases in

money market, demand, and interest

checking deposit balances

–

Consumer average transaction

deposits up 2% sequentially and up

6% year-over-year

–

Commercial average transaction

deposits up 5% sequentially and up

10% year-over-year

•

Core deposit to loan ratio of 106%

Average core deposit balances ($B)

•

Average securities up $4.0B from 4Q13

•

Securities portfolio / total assets of 16.5%

in 4Q14, up from 14.7% a year ago

•

End of period short-term investments

increased $4.3B sequentially, reflecting

higher cash balances held at the Federal

Reserve

Average securities and short-term

investments ($B)

5

©

Fifth Third Bank | All Rights Reserved

Net interest income

NII and NIM (FTE)

•

Net interest income down $20MM from 3Q14

–

Decrease driven by the effects of loan repricing and higher interest expense from 3Q14 debt issuance,

partially offset by the benefit of loan growth

•

Sequential decline in asset yield lowest we have seen in 2014

•

NIM decreased 14 bps sequentially reflecting elevated cash balances

•

Year-over-year NII decreased $17MM and NIM decreased 25 bps

–

NII decrease driven by loan repricing and debt issuances, partially offset by higher investment securities and

loan balances

–

NIM decrease due to the impact of loan repricing

•

Expect lower 1Q15 NII, reflecting decline related to changes to deposit advance product and negative impact

from lower day count

Yield Analysis

4Q13

3Q14

4Q14

Seq.

(bps)

YoY

(bps)

Commercial and industrial loans

3.46%

3.25%

3.21%

(4)

(25)

Commercial mortgage loans

3.53%

3.34%

3.28%

(6)

(25)

Commercial construction loans

3.46%

3.49%

3.30%

(19)

(16)

Commercial leases

3.10%

2.96%

2.96%

-

(14)

Residential mortgage loans

3.88%

3.84%

3.80%

(4)

(8)

Home equity

3.62%

3.69%

3.68%

(1)

6

Automobile loans

2.96%

2.72%

2.73%

1

(23)

Credit card

9.90%

9.87%

10.08%

21

18

Other consumer loans and leases

43.19%

36.98%

31.97%

(501)

(1,122)

Total loans and leases

3.79%

3.61%

3.58%

(3)

(21)

Taxable securities

3.32%

3.32%

3.28%

(4)

(4)

Tax exempt securities

5.65%

5.34%

4.42%

(92)

(123)

Other short-term investments

0.26%

0.26%

0.26%

-

-

Total interest-earning assets

3.57%

3.49%

3.38%

(11)

(19)

Total interest-bearing liabilities

0.52%

0.56%

0.61%

5

9

Net interest rate spread

3.05%

2.93%

2.77%

(16)

(28)

6

©

Fifth Third Bank | All Rights Reserved

•

4Q14 and 4Q13 include $23MM and $9MM, respectively, of

payments received from Vantiv pursuant to TRA

•

Expect lower 1Q15 fee income due to seasonal impacts on

deposit service charges and card and processing revenue

and the absence of the Vantiv TRA payment

4Q14

Seq.

YOY

($ in millions)

Service charges on deposits

$142

(2%)

-

Corporate banking revenue

120

20%

27%

Mortgage banking net revenue

61

-

(51%)

Investment advisory revenue

100

(2%)

2%

Card and processing revenue

76

2%

7%

Other noninterest income

1

150

NM

(13%)

Securities gains, net

4

15%

NM

Securities gains (losses), net -

-

-

-

non-qualifying hedges on MSRs

Total noninterest income

$653

26%

(7%)

Noninterest income

1

Net credit-related costs recognized in other noninterest income were  $1MM in 4Q14. This compares with immaterial net credit-related costs in 3Q14, $4MM in 2Q14, $10MM in 1Q14, and

$5MM in 4Q13.

Compared with 3Q14

•

Corporate banking revenue results driven by higher

syndication, business lending, and foreign exchange fees

•

Retail service changes on deposits decreased due to a

decrease in overdraft occurrences

Compared with 4Q13

•

Decrease in mortgage banking results reflect lower

production, partially due to exiting broker channel in early

2014

•

Card and processing revenue reflects greater card

utilization and higher consumer purchase volume

•

Investment advisory revenue reflects increase in personal

asset management fees

4Q13

1Q14

2Q14

3Q14

4Q14

Reported noninterest income

$703

$564

$736

$520

$653

Gain on sale of Vantiv shares

-

-

(125)

-

-

Vantiv warrant valuation

(91)

36

(63)

53

(56)

Other Vantiv-related items

-

-

12

-

-

Valuation of Visa total return swap

18

(1)

16

3

19

Land valuation adjustments

-

-

17

-

-

Securities (gains) / losses

(2)

(7)

(8)

(3)

(4)

Adjusted noninterest income

$628

$592

$585

$573

$612

Components of noninterest income

5 quarter trend ($MM)

Adjustments to remove (benefit) / detriment

7

©

Fifth Third Bank | All Rights Reserved

Noninterest expense

1

Net

credit-related

costs

recognized

in

other

noninterest

expense

were

$33MM

in

4Q14.

This

compares

with

net

credit-related

costs

of

$13MM

in

3Q14,

$6MM

in

2Q14,

$9MM

in

1Q14,

and

($12MM)

in

4Q13.

•

Expenses increased sequentially due to higher

credit-related

costs¹

and personnel expenses

•

7% year-over-year decline reflects impact of credit-

related costs¹ in both periods, as well as lower

employee-related costs

—

Retail FTE down 10% from 4Q13 as branch roles

are consolidated and redefined

•

Expect higher 1Q15 expenses primarily due to

seasonally higher FICA and unemployment expense

4Q14

Seq.

YOY

($ in millions)

Salaries, wages and incentives

$366

3%

(6%)

Employee benefits

79

5%

1%

Net occupancy expense

77

(1%)

-

Technology and communications

54

2%

2%

Equipment expense

30

-

3%

Card and processing expense

36

(1%)

(2%)

Other noninterest expense¹

276

7%

(16%)

Total noninterest expense

$918

3%

(7%)

4Q13

1Q14

2Q14

3Q14

4Q14

Reported noninterest expense

$989

$950

$954

$888

$918

Litigation reserve charges

(69)

(51)

(61)

(4)

3

Severance expense

(8)

(4)

(1)

(2)

(6)

Debt extinguishment costs

(8)

-

-

-

-

Donation to Fifth Third Foundation

(8)

-

-

-

-

Adjusted noninterest expense

$896

$895

$892

$882

$915

5 quarter trend ($MM)

Components of noninterest expense

Adjustments to remove benefit / (detriment)

8

©

Fifth Third Bank | All Rights Reserved

($ in millions)

4Q13

1Q14

2Q14

3Q14

4Q14

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

$561

$438

$606

$464

$519

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

53

69

76

71

99

PPNR (a) + (b)

$614

$507

$682

$535

$618

Adjustments

to

remove

(benefit)

/

detriment

:

2

In

noninterest

income:

Gain from sales of Vantiv shares

-

-

(125)

-

-

Vantiv warrant valuation

(91)

36

(63)

53

(56)

Reduction in equity method income from interest in Vantiv

-

-

12

-

-

Land valuation adjusments

-

-

17

-

-

Valuation of 2009 Visa total return swap

18

(1)

16

3

19

Securities (gains) / losses

(2)

(7)

(8)

(3)

(4)

In

noninterest

expense:

Debt extinguishment (gains) / losses

8

-

-

-

-

Severance expense

8

4

1

2

6

Donation to Fifth Third Foundation

8

-

-

-

-

Litigation reserve charges

69

51

61

4

(3)

Adjusted PPNR

$632

$590

$593

$594

$580

Credit-related items:

In noninterest income

5

10

4

(0)

1

In noninterest expense

(12)

9

6

13

33

Credit-adjusted PPNR³

$625

$609

$603

$607

$614

Pre-tax pre-provision earnings

1

PPNR trend

1

Non-GAAP

measure;

see

Reg.

G

reconciliation

in

appendix.

2

Prior

quarters

include

similar

adjustments.

3

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.

Note:

4Q14

included

an

immaterial

amount

of

mortgage

repurchase

provision.

3Q14,

2Q14,

and

1Q14

included

the

impact

of

$3MM,

$1MM,

and

$3MM,

respectively

in

mortgage

repurchase

provision.

4Q13

included

a

benefit

to

the

mortgage

repurchase

provision

of

$26MM.

These

impacts

are

reflected

in

“Credit-related

items”

and

“Adjusted

Efficiency

Ratio”

listed

above.

PPNR increased 16% sequentially, reflecting

impact of $38MM in net benefit in 4Q14 and

$59MM in net detriment in 3Q14 from significant

items. Excluding those items, adjusted PPNR

decreased 2% sequentially, reflecting higher

expense, partially offset by the $23MM Vantiv

TRA payment.

PPNR reconciliation

Efficiency ratio

9

©

Fifth Third Bank | All Rights Reserved

Credit quality overview

Net charge-offs ($MM)

$148

$101

NCO ratio

0.67%

0.76%

0.45%

0.50%

0.83%

$168

HFI Nonperforming assets ($MM)

$796

$744

$980

$832

$946

NPAs down 24% from 4Q13;

lowest level since 2007

Reserve Coverage

Accruing Past Due ($MM)

$379

$337

$337

Includes 4Q14 provision expense of $99MM, reflecting $23MM

impact of TDR transaction;

reserve coverage levels remain solid

Total delinquencies declined 11% from 4Q13

NPA ratio   1.10%             1.05%            0.92%             0.88%     

0.82%   

Excluding TDR transfer, net charge-offs down 10% sequentially

$115

$366

$191

$337

10

©

Fifth Third Bank | All Rights Reserved

Strong capital position

1

Non-GAAP

measure;

See

Reg.

G

reconciliation

in

appendix.

2

Capital

ratios

estimated;

presented

under

current

U.S.

capital

regulations.

The

pro

forma

Basel

III

Tier

I

common

equity

ratio

is

management’s

estimate

based

upon

its

current

interpretation

of

the

Basel

III

Final

Rule

approved

in

July

2013.

3

1Q15

end

of

period

and

average

share

impacts

reflect

settlement

of

the

$180MM

share

repurchase

transaction

as

described

in

the

Form

8-K

filed

on

January

5, 2015.

Tier 1 common equity

1

Avg. Diluted Shares Outstanding (MM)

•

Returned $1.1 billion to common shareholders in

2014 in dividends and share repurchases

•

2014 CCAR plan included the potential repurchase of

common shares in an amount up to $669MM

–

Announced $180MM of share repurchases in

4Q14; completed on 1/5/15

3

•

2015 CCAR submitted in early January; capital plan

subject to regulatory non-objection

EOP share impact

(MM)

Average share impact

(MM)

3Q14

4Q14

1Q15

3Q14

4Q14

1Q15

$150MM ASR

1.0

-

-

2.8

0.2 

-

$225MM ASR

9.4

1.9

-

7.0

4.0

0.3

$180MM ASR

3

-

8.3

0.8

-

6.3

2.7

10.4

10.2

0.8

9.8

10.5

3.0

Capital Actions

Impact of Share Repurchases

9.5%

9.5%

9.6%

9.6%

2

9.7%

and

Tangible

Book

Value

per

share

1

11

©

Fifth Third Bank | All Rights Reserved

Appendix

12

©

Fifth Third Bank | All Rights Reserved

Mortgage banking results

•

$1.7B in originations; 57% purchase volume

–

Discontinued broker channel originations in 1Q14

•

4Q14 mortgage drivers:

–

Origination fees and gain on sale revenue up $1.4MM

–

Gain on sale margin up 60 bps sequentially

–

Retaining conforming ARMs and shorter-term fixed-rate production on balance sheet

–

MSR valuation adjustments of negative $2MM; servicing rights amortization of negative $32MM

–

$60MM in gross servicing fees

Mortgage originations ($B) and gain on sale margin¹

Mortgage Banking Net Revenue ($MM)

Note: Numbers may not sum due to rounding.

1

Gain on sale margin represents gains on all loans originated for sale.

$61

$78

$126

$109

1

$61

13

Available and contingent borrowing capacity

(4Q14):

–

FHLB ~$14.3B available

–

Federal Reserve ~$27.4B

Holding Company cash at 12/31/14: $2.4B

Cash currently sufficient to satisfy all fixed

obligations in a stressed environment for over

24 months (debt maturities, common and

preferred dividends, interest and other

expenses) without accessing capital markets,

relying on future dividends from subsidiaries,

or any other discretionary actions

Holding company unsecured debt maturities ($MM)

Bank

unsecured

debt

maturities

($MM

–

excl.

Brokered

CDs)

Heavily core funded

Strong liquidity profile

S-T

wholesale

2%

©

Fifth Third Bank | All Rights Reserved

14

©

Fifth Third Bank | All Rights Reserved

Interest rate risk management

1

Repricing

percentage

or

“beta”

is

the

estimated

change

in

yield

over

12

months

as

a

result

of

a

shock

or

ramp

100

bps

parallel

shift

in

the

yield

curve.

2

Actual

results

may

vary

from

these

simulated

results

due

to

timing,

magnitude,

and

frequency

of

interest

rate

changes,

as

well

as

changes

in

market

conditions

and

management

strategies.

Strategically

positioned

balance

sheet

to

limit

risk

to

downside

rate

scenarios

•

Balance sheet is well positioned for a rising rate environment

—

64% of total loans are floating rate (81% of commercial and 39% of consumer)

—

Investment portfolio duration of approximately 5 years

—

Short-term wholesale funding represents only 2% of total funding

—

$16B in wholesale funding will reprice beyond 1 year

•

Interest rate sensitivities are based on conservative deposit assumptions

—

Weighted-average deposit beta of 70% (2004 –

2006 cycle betas ~50%)

1

—

No modeled lag in deposit repricing

—

Modeled DDA runoff of approximately $2.5B (approximately 8%) for

each 100 bps increase in rates

—

For every $1B of incremental DDA runoff beyond what is modeled, asset sensitivity decreases:

–

15 bps in year 1 and 28 bps in year 2 in a 100 bps ramp

–

35 bps in both year 1 and year 2 in a 100 bps shock

•

Forecasted balances represent our current

expectations regarding balance sheet trends

•

Static balances assume current composition of

balance sheet remains constant

•

In ramp scenarios, rate changes occur evenly over

the first four quarters

•

In shock scenarios, rate changes are instantaneous

+100 bps

+200 bps

+100 bps

+200 bps

NII - Asset Sensitivity²

Forecast Balances

Static Balances

Year 1

1.2%

2.2%

1.0%

2.0%

Year 2

4.2%

6.5%

4.2%

6.5%

Year 1

3.4%

6.3%

3.1%

5.8%

Year 2

6.1%

10.0%

6.2%

10.1%

+100 bps

+200 bps

(0.6%)

(2.2%)

EVE at Risk

15

©

Fifth Third Bank | All Rights Reserved

NPL rollforward

NPL HFI Rollforward

Commercial

4Q13

1Q14

2Q14

3Q14

4Q14

521

458

464

396

385

Transfers to nonperforming

107

164

141

116

99

Transfers to performing

(1)

(2)

(20)

-

-

Transfers to performing (restructured)

(2)

(1)

(47)

-

(1)

Transfers from held for sale

-

-

-

-

-

Transfers to held for sale

-

-

(1)

(3)

-

Loans sold from portfolio

(19)

(2)

(24)

(12)

(5)

Loan paydowns/payoffs

(61)

(43)

(54)

(39)

(45)

Transfers to other real estate owned

(12)

(7)

(18)

(9)

(7)

Charge-offs

(78)

(105)

(46)

(66)

(62)

Draws/other extensions of credit

3

2

1

2

3

458

464

396

385

367

Consumer

4Q13

1Q14

2Q14

3Q14

4Q14

248

293

269

244

235

Transfers to nonperforming

165

93

85

90

86

Transfers to performing

(25)

(28)

(24)

(15)

(14)

Transfers to performing (restructured)

(22)

(22)

(20)

(25)

(19)

Transfers to held for sale

-

-

-

-

(24)

Loans sold from portfolio

-

-

-

-

-

Loan paydowns/payoffs

(24)

(29)

(11)

(5)

(5)

Transfers to OREO/other repossessed property

(20)

(24)

(24)

(21)

(20)

Charge-offs

(30)

(15)

(30)

(33)

(27)

Draws/other extensions of credit

1

1

(1)

-

-

293

269

244

235

212

Total NPL

751

733

640

620

579

272

257

226

206

185

Beginning NPL amount

Ending Commercial NPL

Beginning NPL amount

Ending Consumer NPL

Total new nonaccrual loans - HFI

16

Commercial & industrial

Loans by geography

Credit trends

Loans by industry

Comments

•

Commercial & industrial loans represented 45% of total loans

and 23% of net charge-offs

•

C&I loans were down 1% sequentially and increased 4% since

4Q13

* Excludes loans held-for-sale.

($ in millions)

4Q13

1Q14

2Q14

3Q14

4Q14

EOP Balance*

$39,316

$40,591

$41,299

$41,072

$40,765

Avg Loans*

$38,835

$40,377

$41,374

$41,477

$41,277

90+ days delinquent

-

$1

-

-

-

as % of loans

NM

NM

NM

NM

NM

NPAs*

$290

$304

$265

$278

$246

as % of loans

0.74%

0.75%

0.64%

0.68%

0.60%

Net charge-offs

$66

$97

$31

$50

$44

as % of loans

0.67%

0.97%

0.30%

0.48%

0.43%

C&I

©

Fifth Third Bank | All Rights Reserved

17

Commercial real estate

Loans by geography

Credit trends

Loans by industry

Comments

•

Commercial mortgage loans represented 8% of total loans

—

Non-owner occupied 4Q14 NCO ratio of 1.1%

—

Loans from FL/MI represented 34% of portfolio loans

and $8MM of portfolio losses in 4Q14

•

Commercial construction loans represented 2% of total loans

—

Portfolio focused on large professional developers

—

Top 3 categories:  Apartments, REIT, and office

* Excludes loans held-for-sale.

($ in millions)

4Q13

1Q14

2Q14

3Q14

4Q14

EOP Balance*

$1,039

$1,218

$1,424

$1,702

$2,069

Avg Loans*

$952

$1,116

$1,362

$1,563

$1,909

NPAs*

$59

$46

$31

$19

$16

as % of loans

5.53%

3.68%

2.17%

1.09%

0.75%

Net charge-offs

$4

$5

$8

-

-

as % of loans

1.65%

1.66%

2.26%

(0.11%)

(0.01%)

Commercial construction

($ in millions)

4Q13

1Q14

2Q14

3Q14

4Q14

EOP Balance*

$8,066

$7,958

$7,805

$7,564

$7,399

Avg Loans*

$8,047

$7,981

$7,885

$7,633

$7,480

NPAs*

$252

$240

$212

$186

$195

as % of loans

3.09%

2.98%

2.69%

2.43%

2.62%

Net charge-offs

$8

$3

$9

$5

$10

as % of loans

0.40%

0.16%

0.44%

0.24%

0.53%

Commercial mortgage

©

Fifth Third Bank | All Rights Reserved

18

©

Fifth Third Bank | All Rights Reserved

Residential mortgage

1

st

liens: 100%; weighted average LTV: 73.5%

Weighted average origination FICO: 754

Origination FICO distribution:  <660 5%; 660-689 5%; 690-719 9%;

720-749 14%; 750+ 61%; Other^ 6%

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

Origination LTV distribution: <=70 39%; 70.1-80 36%; 80.1-90 7%;

90.1-95 5%; >95 13%

Vintage distribution: 2014: 18%, 2013: 21%; 2012 21%; 2011 12%;

2010 7%; 2009 4%; 2008 3%; 2007 3%; 2006 3%; 2005 4%; 2004

and prior 4%

15%

originated

through

3

rd

party;

performance

similar

to

direct

Loans by geography

Credit trends

Portfolio details

Comments

^ Includes acquired loans where FICO at origination is not available

* Excludes loans held-for-sale

•

Residential

mortgage

loans

represented

14%

of

total

loans

and

49% of net charge-offs; 7% excluding TDR transaction

•

Net charge-offs increased by $85MM in 4Q14 and included

$87MM related to the transfer of TDRs to held-for-sale

—

OH, FL, and MI account for 30%, 22%, and 19% of

residential mortgage net charge-offs, respectively

($ in millions)

4Q13

1Q14

2Q14

3Q14

4Q14

EOP Balance*

$12,680

$12,626

$12,652

$12,941

$12,389

Avg Loans*

$12,609

$12,659

$12,611

$12,785

$13,046

90+ days delinquent

$66

$56

$60

$57

$55

as % of loans

0.52%

0.44%

0.47%

0.44%

0.44%

NPAs*

$223

$201

$172

$164

$126

as % of loans

1.76%

1.59%

1.36%

1.27%

1.01%

Net charge-offs

$13

$15

$8

$9

$94

as % of loans

0.39%

0.49%

0.24%

0.28%

2.87%

Residential mortgage

19

©

Fifth Third Bank | All Rights Reserved

Home equity loans represented 10% of total loans and 6% of net

charge-offs

Approximately 12% of portfolio in broker product generated 25% total

loss

38%

of

Fifth

Third

2

nd

liens

are

behind

Fifth

Third

1

st

liens

2005/2006 vintages represent approximately 23% of portfolio; account

for 48% of losses

Home equity

1

st

liens: 34%; 2

nd

liens: 66% 

Weighted average origination FICO: 753

Origination FICO distribution^: <660 3%; 660-689 7%; 690-719 12%;

720-749 16%; 750+ 54%; Other 8%

Average CLTV: 72%; Origination CLTV distribution: <=70 41%; 70.1-

80 24%; 80.1-90 18%; 90.1-95 6%; >95 11%

Vintage distribution: 2014: 8%, 2013: 6%; 2012 4%; 2011 3%; 2010

2%; 2009 3%; 2008 9%; 2007 9%; 2006 12%; 2005 11%; 2004 and

prior 33%

% through broker channels: 12% WA FICO: 734 brokered, 756 direct;

WA CLTV: 88% brokered; 70% direct

Portfolio details

Comments

Brokered loans by geography

Direct loans by geography

Credit trends

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

*

Excludes

loans

held-for-sale

($ in millions)

4Q13

1Q14

2Q14

3Q14

4Q14

EOP Balance*

$1,190

$1,155

$1,131

$1,094

$1,062

90+ days delinquent

-

-

-

-

-

as % of loans

NM

NM

NM

NM

NM

Net charge-offs

$8

$5

$7

$4

$3

as % of loans

2.81%

1.85%

2.35%

1.42%

1.05%

Home equity - brokered

($ in millions)

4Q13

1Q14

2Q14

3Q14

4Q14

EOP Balance*

$8,056

$7,970

$7,925

$7,893

$7,824

90+ days delinquent

-

-

-

-

-

as % of loans

NM

NM

NM

NM

NM

Net charge-offs

$18

$11

$11

$10

$8

as % of loans

0.87%

0.55%

0.58%

0.51%

0.42%

Home equity - direct

20

©

Fifth Third Bank | All Rights Reserved

Regulation G Non-GAAP reconciliation

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

December

September

June

March

December

2014

2014

2014

2014

2013 

Income before income taxes (U.S. GAAP)

519

464

606

438

561

Add:

Provision expense (U.S. GAAP)

99

71 

76 

69 

53 

Pre-provision net revenue

618 

535 

682 

507 

614 

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

362 

328 

416 

309 

383 

Add:

Intangible amortization, net of tax

1 

1 

1 

1 

1 

Tangible net income available to common shareholders

363 

329 

417 

310 

384 

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

1,440 

1,305 

1,673 

1,257 

1,523 

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

15,644 

15,486 

15,157 

14,862 

14,757 

Less:

Average preferred stock

(1,331)

(1,331)

(1,119)

(1,034)

(703)

Average goodwill

(2,416)

(2,416)

(2,416)

(2,416)

(2,416)

Average intangible assets and other servicing rights

(17)

(16)

(17)

(19)

(20)

Average tangible common equity (b)

11,880

11,723 

11,605 

11,393 

11,618 

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

15,626 

15,404 

15,469 

14,826 

14,589 

Less: 

Preferred stock

(1,331)

(1,331)

(1,331)

(1,034)

(1,034)

Goodwill

(2,416)

(2,416)

(2,416)

(2,416)

(2,416)

Intangible assets and other servicing rights

(16)

(16)

(17)

(18)

(19)

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

11,863

11,641 

11,705 

11,358 

11,120 

Less: Accumulated other comprehensive income

(429)

(301)

(382)

(196)

(82)

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

11,434

11,340 

11,323 

11,162 

11,038 

Total assets (U.S. GAAP)

138,706 

134,188 

132,562 

129,654 

130,443 

Less: 

Goodwill

(2,416)

(2,416)

(2,416)

(2,416)

(2,416)

Intangible assets and other servicing rights

(16)

(16)

(17)

(18)

(19)

Tangible assets, including unrealized gains / losses (e)

136,274

131,756 

130,129 

127,220 

128,008 

Less: Accumulated other comprehensive income / loss, before tax

(660)

(463)

(588)

(302)

(126)

Tangible assets, excluding unrealized gains / losses (f)

135,614

131,293 

129,541 

126,918 

127,882 

Common shares outstanding (g)

824 

834 

844 

848 

855 

Ratios:

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

12.1%

11.1%

14.4%

11.0%

13.1%

Tangible common equity (excluding unrealized gains/losses) (d) / (f)

8.43%

8.64%

8.74%

8.79%

8.63%

Tangible common equity (including unrealized gains/losses) (c) / (e)

8.71%

8.84%

9.00%

8.93%

8.69%

Tangible book value per share (c) / (g)

$14.40 

$13.95 

$13.86 

$13.40 

$13.00 

For the Three Months Ended

21

©

Fifth Third Bank | All Rights Reserved

Regulation G Non-GAAP reconciliation

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

December

September

June

March

December

2014

2014

2014

2014

2013

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

15,626 

15,404 

15,469 

14,826 

14,589 

Goodwill and certain other intangibles

(2,476)

(2,484)

(2,484)

(2,490)

(2,492)

Unrealized gains

(429)

(301)

(382)

(196)

(82)

Qualifying trust preferred securities

60 

60 

60 

60 

60 

Other

(17)

(18)

(19)

(18)

19 

Tier I capital

12,764

12,661 

12,644 

12,182 

12,094 

Less:

Preferred stock

(1,331)

(1,331)

(1,331)

(1,034)

(1,034)

Qualifying trust preferred securities

(60)

(60)

(60)

(60)

(60)

Qualifying noncontrolling interest in consolidated subsidiaries

(1)

(1)

(1)

(1)

(37)

Tier I common equity (a)

11,372

11,269 

11,252 

11,087 

10,963 

Risk-weighted assets, determined in accordance with

prescribed regulatory requirements (b)

117,887

116,917 

117,117 

116,622 

115,969 

Ratio:

Tier I common equity (a) / (b)

9.65%

9.64%

9.61%

9.51%

9.45%

Basel III - Estimated Tier 1 common equity ratio

December

September

June

March

December

2014

2014

2014

2014

2013

Tier 1 common equity (Basel I)

11,372

11,269 

11,252 

11,087 

10,963 

Add:

Adjustment related to capital components

84

99 

96 

99 

82 

Estimated Tier 1 common equity under final Basel III rules without AOCI (opt out)(c)

11,456

11,368 

11,348 

11,186 

11,045 

Add:

Adjustment related to AOCI

429 

301 

382 

196 

82 

Estimated Tier 1 common equity under final Basel III rules with AOCI (non opt out)(d)

11,885

11,669 

11,730 

11,382 

11,127 

Estimated risk-weighted assets under final Basel III rules (e)

122,027

121,219 

122,465 

122,659 

122,074 

Estimated Tier 1 common equity ratio under final Basel III rules (opt out) (c) / (e)

9.39%

9.38%

9.27%

9.12%

9.05%

Estimated Tier 1 common equity ratio under final Basel III rules (non opt out) (d) / (e)

9.74%

9.63%

9.58%

9.28%

9.12%

(c), (d)

(e)

Under the final Basel III rules, non-advanced approach banks are permitted to make a one-time election to opt out of the requirement to include AOCI in Tier 1 common equity. Other adjustments

include mortgage servicing rights and deferred tax assets subject to threshold limitations and deferred tax liabilities related to intangible assets.

Key differences under Basel III in the calculation of risk-weighted assets compared to Basel I include: (1) Risk weighting for commitments under 1 year; (2) Higher risk weighting for exposures to

securitizations, past due loans, foreign banks and certain commercial real estate; (3) Higher risk weighting for mortgage servicing rights and deferred tax assets that are under certain thresholds as

a percent of Tier 1 capital; and (4) Derivatives are differentiated between exchange clearing and over-the-counter and the 50% risk-weight cap is removed.

For the Three Months Ended

EX-99.3

Exhibit 99.3

January 2015

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) 534-0629 or IR@53.com

Jim Eglseder	Laura Wehby
SVP / Investor Relations	VP / Investor Relations
(513) 534-8424	(513) 534-7407

Page 1

Quarterly Data	Three Months Ended
	December 2014		September 2014		June 2014		March 2014		December 2013		September 2013		June 2013		March 2013
Ratios (percent)
Return on average assets		1.13		1.02		1.34		1.00		1.24		1.35		1.94		1.41
Return on average common equity		10.0		9.2		11.9		9.0		10.8		12.1		17.3		12.5
Average Bancorp shareholders’ equity as a percent of average assets		11.54		11.71		11.57		11.53		11.51		11.71		11.64		11.38
Net interest margin(a)		2.96		3.10		3.15		3.22		3.21		3.31		3.33		3.42
Efficiency(a)		59.6		62.1		58.2		64.9		61.5		59.2		53.2		59.8
Net losses charged off as a percent of average loans and leases		0.83		0.50		0.45		0.76		0.67		0.49		0.51		0.63
ALLL as a percent of portfolio loans and leases		1.47		1.56		1.61		1.65		1.79		1.92		1.99		2.08
Allowance for credit losses as a percent of portfolio loans and leases		1.62		1.71		1.77		1.82		1.97		2.11		2.18		2.28
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(b)		0.82		0.88		0.92		1.05		1.10		1.16		1.32		1.41
Allowance for loan and lease losses as a percent of nonperforming assets(b)		178		178		175		157		161		165		151		147
Allowance for credit losses as a percent of nonperforming assets(b)		196		195		192		173		178		182		165		161
Common Share Data
Earnings per share	$	0.44	$	0.39	$	0.49	$	0.36	$	0.44	$	0.47	$	0.67	$	0.47
Earnings per diluted share	$	0.43	$	0.39	$	0.49	$	0.36	$	0.43	$	0.47	$	0.65	$	0.46
Cash dividends per common share		0.13		0.13		0.13		0.12		0.12		0.12		0.12		0.11
Book value per share		17.35		16.87		16.74		16.27		15.85		15.84		15.56		15.42
Common shares outstanding, excluding treasury		824,046,952		834,261,897		844,488,849		847,568,728		855,305,745		887,029,539		851,473,955		874,644,725
Market price per share:
High	$	20.69	$	21.75	$	23.19	$	23.39	$	21.04	$	19.69	$	18.60	$	16.61
Low		17.74		19.52		20.03		20.50		17.50		18.04		15.80		15.35
End of period		20.38		20.02		21.35		22.96		21.03		18.05		18.05		16.31
Supplemental Data
Common dividends declared ($ in millions)	$	107	$	108	$	110	$	102	$	103	$	106	$	102	$	96
Full-time equivalent employees		18,351		18,503		18,732		19,080		19,446		20,256		20,569		20,744
Banking centers		1,302		1,308		1,309		1,311		1,320		1,326		1,326		1,320
ATMs		2,638		2,639		2,619		2,614		2,586		2,374		2,433		2,426

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

(b) Excludes nonperforming assets held for sale.

Page 2

Quarterly Data	Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013			September 2013			June 2013			March 2013
Income Statement ($ in millions)
Interest income (FTE)	$	1,016		$	1,023		$	1,013		$	998		$	1,007		$	997		$	989		$	1,000
Interest expense		128			115			108			100			102			99			104			107
Net interest income (FTE)		888			908			905			898			905			898			885			893
Provision for loan and lease losses		99			71			76			69			53			51			64			62
Noninterest income:
Service charges on deposits		142			145			139			133			142			140			136			131
Investment advisory revenue		100			103			102			102			98			97			98			100
Corporate banking revenue		120			100			107			104			94			102			106			99
Mortgage banking net revenue		61			61			78			109			126			121			233			220
Card and processing revenue		76			75			76			68			71			69			67			65
Other noninterest income		150			33			226			41			170			185			414			109
Securities gains, net		4			3			8			7			2			2			—			17
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—			—			—			—			—			5			6			2
Total noninterest income		653			520			736			564			703			721			1,060			743
Noninterest expense:
Salaries, wages and incentives		366			357			368			359			388			389			404			399
Employee benefits		79			75			79			101			78			83			83			114
Net occupancy expense		77			78			79			80			77			75			76			79
Technology and communications		54			53			52			53			53			52			50			49
Equipment expense		30			30			30			30			29			29			28			28
Card and processing expense		36			37			37			31			37			33			33			31
Other noninterest expense		276			258			309			296			327			298			361			278
Total noninterest expense		918			888			954			950			989			959			1,035			978
Income before income taxes (FTE)		524			469			611			443			566						846			596
Taxable equivalent adjustment		5			5			5			5			5			5			5			5
Income before income taxes		519			464			606			438			561			604			841			591
Applicable income tax expense		134			124			167			119			159			183			250			179
Net income	$	385		$	340		$	439		$	319		$	402		$	421		$	591		$	412
Less: Net income attributable to noncontrolling interests		—			—			—			1			—			—			—			(10	)
Net income attributable to Bancorp	$	385		$	340		$	439		$	318		$	402		$	421		$	591		$	422
Dividends on preferred stock		23			12			23			9			19			—			9			9
Net income available to common shareholders	$	362		$	328		$	416		$	309		$	383		$	421		$	582		$	413
Regulatory Capital Data ($ in millions)(a)
Tier I capital	$	12,764		$	12,661		$	12,644		$	12,182		$	12,094		$	12,762		$	12,426		$	11,878
Tier II capital		4,132			4,103			4,101			4,174			4,337			3,665			3,666			3,846
Total risk-based capital	$	16,896		$	16,764		$	16,745		$	16,356		$	16,431		$	16,427		$	16,092		$	15,724
Risk-weighted assets	$	117,887		$	116,917		$	117,117		$	116,622		$	115,969		$	113,801		$	111,559		$	109,027
Tier I risk-based capital ratio		10.83	%		10.83	%		10.80	%		10.45	%		10.43	%		11.21	%		11.14	%		10.89	%
Total risk-based capital ratio		14.33	%		14.34	%		14.30	%		14.02	%		14.17	%		14.43	%		14.43	%		14.42	%
Tier I leverage ratio		9.66	%		9.82	%		9.86	%		9.71	%		9.73	%		10.64	%		10.45	%		10.07	%
Tier I common equity ratio		9.65	%		9.64	%		9.61	%		9.51	%		9.45	%		9.95	%		9.49	%		9.75	%

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

Page 3

Quarterly Data	As of
	December 2014			September 2014			June 2014			March 2014			December 2013			September 2013			June 2013			March 2013
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	3,091		$	3,125		$	3,312		$	3,153		$	3,178		$	2,887		$	2,390		$	2,186
Available-for-sale and other securities		22,408			22,912			22,814			20,749			18,597			18,080			16,187			15,263
Held-to-maturity securities		187			191			194			195			208			265			274			283
Trading securities		360			389			361			347			343			246			219			218
Other short-term investments		7,914			3,637			2,386			2,202			5,116			2,622			1,109			2,286
Total cash and securities		33,960			30,254			29,067			26,646			27,442			24,100			20,179			20,236
Loans held for sale		1,261			641			682			780			944			1,330			2,148			2,691
Portfolio loans and leases		90,084			90,624			90,484			89,705			88,614			87,231			87,032			85,676
Total loans and leases		91,345			91,265			91,166			90,485			89,558			88,561			89,180			88,367
Allowance for loan and lease losses		(1,322	)		(1,414	)		(1,458	)		(1,483	)		(1,582	)		(1,677	)		(1,735	)		(1,783	)
Bank premises and equipment		2,465			2,467			2,491			2,528			2,531			2,528			2,540			2,540
Operating lease equipment		728			732			667			714			730			707			645			598
Goodwill		2,416			2,416			2,416			2,416			2,416			2,416			2,416			2,416
Intangible assets		15			16			17			18			19			21			23			25
Servicing rights		858			935			931			975			971			919			899			772
Other real estate owned		217			242			266			291			299			312			301			316
Other assets		8,024			7,275			6,999			7,064			8,059			7,786			8,912			7,895
Total assets	$	138,706		$	134,188		$	132,562		$	129,654		$	130,443		$	125,673		$	123,360		$	121,382
Liabilities
Deposits:
Demand	$	34,809		$	32,258		$	32,140		$	31,234		$	32,634		$	30,153		$	30,097		$	30,027
Interest checking		26,800			24,930			24,744			25,472			25,875			23,527			22,878			23,175
Savings		15,051			15,355			16,087			16,867			17,045			17,583			18,448			19,339
Money market		17,083			16,199			14,216			13,208			11,644			10,433			9,247			8,613
Foreign office		1,114			1,577			1,418			1,922			1,976			1,409			1,570			1,089
Other time		3,960			3,856			3,724			3,660			3,530			3,524			3,793			3,909
Certificates—$100,000 and over		2,895			3,117			3,623			4,511			6,571			7,497			7,374			5,472
Other foreign office		—			—			—			—			—			—			47			—
Total deposits		101,712			97,292			95,952			96,874			99,275			94,126			93,454			91,624
Federal funds purchased		144			148			153			268			284			225			636			386
Other short-term borrowings		1,556			2,730			3,146			2,717			1,380			3,487			2,112			2,439
Other liabilities		4,662			4,239			3,842			3,698			5,245			5,057			5,941			4,693
Long-term debt		14,967			14,336			13,961			11,233			9,633			8,098			6,940			8,320
Total liabilities		123,041			118,745			117,054			114,790			115,817			110,993			109,083			107,462
Equity
Common and preferred equity		17,169			16,889			16,661			16,122			15,802			15,085			15,292			14,315
Net unrealized gains (losses):
Available-for-sale securities		475			338			410			231			121			268			203			381
Qualifying cash flow hedges		23			12			22			16			13			31			29			37
Accumulated other comprehensive income related to employee benefit plans		(69	)		(49	)		(50	)		(51	)		(52	)		(81	)		(83	)		(85	)
Treasury stock, at cost		(1,972	)		(1,786	)		(1,574	)		(1,492	)		(1,295	)		(662	)		(1,202	)		(766	)
Total Bancorp shareholders’ equity		15,626			15,404			15,469			14,826			14,589			14,641			14,239			13,882
Noncontrolling interests		39			39			39			38			37			39			38			38
Total equity		15,665			15,443			15,508			14,864			14,626			14,680			14,277			13,920
Total liabilities and equity	$	138,706		$	134,188		$	132,562		$	129,654		$	130,443		$	125,673		$	123,360		$	121,382
Share Data
Preferred shares outstanding—Series G		—			—			—			—			—			—			16,442			16,450
Preferred shares outstanding—Series H		24,000			24,000			24,000			24,000			24,000			24,000			24,000			—
Preferred shares outstanding—Series I		18,000			18,000			18,000			18,000			18,000			—			—			—
Preferred shares outstanding—Series J		12,000			12,000			12,000			—			—			—			—			—
Common shares outstanding, excluding treasury		824,046,952			834,261,897			844,488,849			847,568,728			855,305,745			887,029,539			851,473,955			874,644,725
Treasury shares held		99,845,629			89,630,684			79,403,732			76,323,853			68,586,836			36,863,042			72,418,626			49,247,856

Page 4

Quarterly Data
	Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013			September 2013			June 2013			March 2013
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases		91,581		$	91,428		$	91,241			90,238		$	88,865		$	89,154		$	89,473		$	88,880
Taxable securities		22,364			22,594			21,706			20,385			18,383			16,590			15,346			15,224
Tax exempt securities		64			50			52			46			48			44			55			51
Other short-term investments		5,176			2,283			2,182			2,509			4,612			1,894			1,561			1,571
Total interest-earning assets		119,185			116,355			115,181			113,178			111,908			107,682			106,435			105,726
Cash and due from banks		3,008			2,862			2,847			2,850			2,956			2,380			2,359			2,225
Other assets		14,800			14,461			14,417			14,478			14,986			15,015			15,198			15,016
Allowance for loan and lease losses		(1,413	)		(1,458	)		(1,480	)		(1,576	)		(1,671	)		(1,731	)		(1,780	)		(1,850	)
Total assets	$	135,580		$	132,220		$	130,965		$	128,930		$	128,179		$	123,346		$	122,212		$	121,117
Liabilities
Interest-bearing liabilities:
Interest checking	$	25,478		$	24,926		$	25,222		$	25,911		$	24,650		$	23,116		$	22,796		$	23,763
Savings		15,173			15,759			16,509			16,903			17,323			18,026			18,864			19,576
Money market		17,023			15,222			13,942			12,439			11,285			9,693			8,918			7,932
Foreign office		1,439			1,663			2,200			2,017			1,717			1,755			1,418			1,102
Other time		3,936			3,800			3,693			3,616			3,529			3,676			3,859			3,982
Certificates—$100,000 and over		2,998			3,339			3,840			5,576			7,456			7,315			6,519			4,017
Other foreign office		—			—			—			—			—			17			10			40
Federal funds purchased		161			520			606			547			301			464			560			691
Other short-term borrowings		1,481			1,973			2,234			1,808			2,177			1,675			2,867			5,429
Long-term debt		14,855			13,955			12,524			10,313			9,135			7,453			7,552			7,506
Total interest-bearing liabilities		82,544			81,157			80,770			79,130			77,573			73,190			73,363			74,038
Demand deposits		33,301			31,790			31,275			30,626			30,765			30,655			29,682			28,565
Other liabilities		4,052			3,749			3,724			4,274			5,045			5,023			4,908			4,687
Total liabilities		119,897			116,696			115,769			114,030			113,383			108,868			107,953			107,290
Equity		15,683			15,524			15,196			14,900			14,796			14,478			14,259			13,827
Total liabilities and equity	$	135,580		$	132,220		$	130,965		$	128,930		$	128,179		$	123,346		$	122,212		$	121,117
Average loans and leases (excluding held for sale)	$	91,041		$	90,799		$	90,549		$	89,530		$	87,895		$	87,272		$	86,707		$	85,903
Average common shares outstanding:
Basic		819,057,247			829,391,505			838,492,046			845,860,065			868,077,089			880,182,513			858,582,710			870,923,074
Diluted		827,831,317			838,324,420			848,245,111			857,923,596			877,510,663			888,111,269			900,625,454			913,163,262

Page 5

Quarterly Data	Three Months Ended
	December 2014			September 2014			June 2014			March 2014			December 2013			September 2013			June 2013			March 2013
End of Period Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	40,801		$	41,111		$	41,364		$	40,692		$	39,347		$	38,260		$	37,868		$	36,782
Commercial mortgage loans		7,410			7,566			7,807			7,959			8,069			8,058			8,450			8,777
Commercial construction loans		2,071			1,704			1,426			1,220			1,041			879			758			699
Commercial leases		3,721			3,555			3,572			3,577			3,626			3,572			3,570			3,568
Subtotal—commercial		54,003			53,936			54,169			53,448			52,083			50,769			50,646			49,826
Consumer:
Residential mortgage loans		13,582			13,520			13,250			13,275			13,570			13,832			14,513			14,713
Home equity		8,886			8,987			9,056			9,125			9,246			9,356			9,531			9,727
Automobile loans		12,037			12,121			12,050			12,088			11,984			12,072			12,015			11,741
Credit card		2,401			2,317			2,261			2,177			2,294			2,157			2,114			2,043
Other consumer loans and leases		436			384			380			372			381			375			361			317
Subtotal—consumer		37,342			37,329			36,997			37,037			37,475			37,792			38,534			38,541
Total loans and leases	$	91,345		$	91,265		$	91,166		$	90,485		$	89,558		$	88,561		$	89,180		$	88,367
Average Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	41,313		$	41,525		$	41,451		$	40,409		$	38,846		$	38,145		$	37,636		$	36,423
Commercial mortgage loans		7,482			7,637			7,886			7,983			8,051			8,280			8,627			8,978
Commercial construction loans		1,911			1,565			1,364			1,118			955			797			717			700
Commercial leases		3,601			3,576			3,556			3,607			3,579			3,574			3,553			3,557
Subtotal—commercial		54,307			54,303			54,257			53,117			51,431			50,796			50,533			49,658
Consumer:
Residential mortgage loans		13,526			13,342			13,202			13,304			13,544			14,333			14,984			14,866
Home equity		8,937			9,009			9,101			9,194			9,296			9,432			9,625			9,872
Automobile loans		12,073			12,105			12,070			12,023			12,019			12,083			11,887			12,096
Credit card		2,324			2,295			2,232			2,230			2,202			2,140			2,071			2,069
Other consumer loans and leases		414			374			379			370			373			370			373			319
Subtotal—consumer		37,274			37,125			36,984			37,121			37,434			38,358			38,940			39,222
Total average loans and leases	$	91,581		$	91,428		$	91,241		$	90,238		$	88,865		$	89,154		$	89,473		$	88,880
Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	269		$	305		$	323		$	398		$	387		$	391		$	551		$	618
Nonaccrual loans held for sale		24			4			5			3			6			11			15			16
Restructured loans—(nonaccrual) held for sale		15			3			—			—			—			—			—			3
Restructured loans and leases (nonaccrual) portfolio		310			315			317			335			364			379			358			333
OREO and other repossessed property(a)		165			176			192			213			229			244			241			259
Total nonperforming assets	$	783		$	803		$	837		$	949		$	986		$	1,025		$	1,165		$	1,229
Ninety days past due loans and leases	$	87		$	87		$	94		$	94		$	103		$	156		$	152		$	164
Nonperforming Loans ($ in millions)(nonaccrual plus renegotiated)
Commercial and industrial loans and leases	$	241		$	267		$	249		$	301		$	287		$	310		$	356		$	323
Commercial mortgage loans		146			121			141			147			146			187			235			260
Commercial construction loans		2			4			10			19			31			34			47			74
Residential mortgage loans		94			111			117			141			165			166			202			221
Home equity and other consumer loans and leases		135			124			128			128			128			84			84			92
Total nonperforming loans and leases (including held for sale)	$	618		$	627		$	645		$	736		$	757		$	781		$	924		$	970
Credit Charge-Offs ($ in millions)
Gross charge-offs	($	215	)	($	146	)	($	127	)	($	190	)	($	183	)	($	141	)	($	145	)	($	168	)
Recoveries		24			31			26			22			35			32			33		$	35
Net losses charged off	($	191	)	($	115	)	($	101	)	($	168	)	($	148	)	($	109	)	($	112	)	($	133	)

(a) Excludes OREO related to government insured loans.

Page 6

EX-99.4

Exhibit 99.4

January 2015

ANNUAL 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 year-end 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	Laura Wehby
VP / Investor Relations	VP / Investor Relations
(513) 534-8424	(513) 534-7407

Page 1

Yearly Data

	Years Ended December 31,
	2014		2013		2012		2011		2010
Ratios (percent)
Return on average assets		1.12		1.48		1.34		1.15		0.67
Return on average common equity		10.0		13.1		11.6		9.0		5.0
Average Bancorp shareholders’ equity as a percent of average assets		11.59		11.56		11.65		11.41		12.22
Net interest margin(a)		3.10		3.32		3.55		3.66		3.66
Efficiency(a)		61.1		58.2		61.7		62.3		60.7
Net losses charged off as a percent of average loans and leases		0.64		0.58		0.85		1.49		3.02
ALLL as a percent of portfolio loans and leases		1.47		1.79		2.16		2.78		3.88
Allowance for credit losses as a percent of portfolio loans and leases		1.62		1.97		2.37		3.01		4.17
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(b)		0.82		1.10		1.49		2.23		2.79
Allowance for loan and lease losses as a percent of nonperforming assets(b)		178		161		144		124		138
Allowance for credit losses as a percent of nonperforming assets(b)		196		178		158		134		149
Common Share Data
Earnings per share	$	1.68	$	2.05	$	1.69	$	1.20	$	0.63
Earnings per diluted share	$	1.66	$	2.02	$	1.66	$	1.18	$	0.63
Cash dividends per common share		0.51		0.47		0.36		0.28		0.04
Book value per share		17.35		15.85		15.10		13.92		13.06
Common shares outstanding, excluding treasury		824,046,952		855,305,745		882,152,057		919,804,436		796,272,522
Market price per share:
High	$	23.39	$	21.04	$	16.16	$	15.75	$	15.95
Low		17.74		15.35		12.04		9.13		9.81
End of period		20.38		21.03		15.20		12.72		14.68
Supplemental Data
Common dividends declared ($ in millions)	$	427	$	407	$	325	$	257	$	32
Full-time equivalent employees		18,351		19,446		20,798		21,334		20,838
Banking centers		1,302		1,320		1,325		1,316		1,312
ATMs		2,638		2,586		2,415		2,425		2,445

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

(b) Excludes nonperforming assets held for sale.

Page 2

Yearly Data

	Years Ended December 31,
	2014			2013			2012			2011			2010
Income Statement ($ in millions)
Interest income (FTE)	$	4,051		$	3,993		$	4,125		$	4,236		$	4,507
Interest expense		451			412			512			661			885
Net interest income (FTE)		3,600			3,581			3,613			3,575			3,622
Provision for loan and lease losses		315			229			303			423			1,538
Noninterest income:
Service charges on deposits		560			549			522			520			574
Corporate banking revenue		430			400			413			350			364
Mortgage banking net revenue		310			700			845			597			647
Investment advisory revenue		407			393			374			375			361
Card and processing revenue		295			272			253			308			316
Other noninterest income		450			879			574			250			406
Securities gains, net		21			21			15			46			47
Securities gains, net—non-qualifying hedges on mortgage servicing rights		—			13			3			9			14
Total noninterest income		2,473			3,227			2,999			2,455			2,729
Noninterest expense:
Salaries, wages and incentives		1,449			1,581			1,607			1,478			1,430
Employee benefits		334			357			371			330			314
Net occupancy expense		313			307			302			305			298
Technology and communications		212			204			196			188			189
Equipment expense		121			114			110			113			122
Card and processing expense		141			134			121			120			108
Other noninterest expense		1,139			1,264			1,374			1,224			1,394
Total noninterest expense		3,709			3,961			4,081			3,758			3,855
Income before income taxes (FTE)		2,049			2,618			2,228			1,849			958
Taxable equivalent adjustment		21			20			18			18			18
Income before income taxes		2,028			2,598			2,210			1,831			940
Applicable income tax		545			772			636			533			187
Net income	$	1,483		$	1,826		$	1,574		$	1,298		$	753
Less: Net income attributable to noncontrolling interests		2			(10	)		(2	)		1			—
Net income attributable to Bancorp	$	1,481		$	1,836		$	1,576		$	1,297		$	753
Dividends on preferred stock		67			37			35			203			250
Net income available to common shareholders	$	1,414		$	1,799		$	1,541		$	1,094		$	503
Regulatory Capital Data ($ in millions)(a)
Tier I capital	$	12,764		$	12,094		$	11,685		$	12,503		$	13,965
Tier II capital		4,132			4,337			4,126			4,373			4,213
Total risk-based capital	$	16,896		$	16,431		$	15,811		$	16,876		$	18,178
Risk-weighted assets	$	117,887		$	115,969		$	109,301		$	104,219		$	100,561
Tier I risk-based capital ratio		10.83	%		10.43	%		10.69	%		12.00	%		13.89	%
Total risk-based capital ratio		14.33	%		14.17	%		14.47	%		16.19	%		18.08	%
Tier I leverage ratio		9.66	%		9.73	%		10.15	%		11.25	%		12.79	%
Tier I common equity ratio		9.65	%		9.45	%		9.54	%		9.41	%		7.48	%

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

Page 3

Yearly Data

	Years Ended December 31,
	2014			2013			2012			2011			2010
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	3,091		$	3,178		$	2,441		$	2,663		$	2,159
Available-for-sale and other securities		22,408			18,597			15,207			15,362			15,414
Held-to-maturity securities		187			208			284			322			353
Trading securities		360			343			207			177			294
Other short-term investments		7,914			5,116			2,421			1,781			1,515
Total cash and securities		33,960			27,442			20,560			20,305			19,735
Loans held for sale		1,261			944			2,939			2,954			2,216
Portfolio loans and leases		90,084			88,614			85,782			81,018			77,491
Total loans and leases		91,345			89,558			88,721			83,972			79,707
Allowance for loan and lease losses		(1,322	)		(1,582	)		(1,854	)		(2,255	)		(3,004	)
Bank premises and equipment		2,465			2,531			2,542			2,447			2,389
Operating lease equipment		728			730			581			497			479
Goodwill		2,416			2,416			2,416			2,417			2,417
Intangible assets		15			19			27			40			62
Servicing rights		858			971			697			681			822
Other real estate owned		217			299			320			429			506
Other assets		8,024			8,059			7,884			8,434			7,894
Total assets	$	138,706		$	130,443		$	121,894		$	116,967		$	111,007
Liabilities
Deposits:
Demand	$	34,809		$	32,634		$	30,023		$	27,600		$	21,413
Interest checking		26,800			25,875			24,477			20,392			18,560
Savings		15,051			17,045			19,879			21,756			20,903
Money market		17,083			11,644			6,875			4,989			5,035
Foreign office		1,114			1,976			885			3,250			3,721
Other time		3,960			3,530			4,015			4,638			7,728
Certificates—$100,000 and over		2,895			6,571			3,284			3,039			4,287
Other foreign office		—			—			79			46			1
Total deposits		101,712			99,275			89,517			85,710			81,648
Federal funds purchased		144			284			901			346			279
Other short-term borrowings		1,556			1,380			6,280			3,239			1,574
Other liabilities		4,662			5,245			4,347			4,739			3,868
Long-term debt		14,967			9,633			7,085			9,682			9,558
Total liabilities		123,041			115,817			108,130			103,716			96,927
Equity
Common and preferred equity		17,169			15,802			13,975			12,795			13,867
Net unrealized gains (losses):
Available-for-sale securities		475			121			412			485			321
Qualifying cash flow hedges		23			13			50			80			67
Accumulated other comprehensive income related to employee benefit plans		(69	)		(52	)		(87	)		(95	)		(74	)
Treasury stock, at cost		(1,972	)		(1,295	)		(634	)		(64	)		(130	)
Total Bancorp shareholders’ equity		15,626			14,589			13,716			13,201			14,051
Noncontrolling interests		39			37			48			50			29
Total equity		15,665			14,626			13,764			13,251			14,080
Total liabilities and equity	$	138,706		$	130,443		$	121,894		$	116,967		$	111,007
Share Data
Preferred shares outstanding—Series G		—			—			16,450			16,450			152,771
Preferred shares outstanding—Series H		24,000			24,000			—			—			—
Preferred shares outstanding—Series I		18,000			18,000			—			—			—
Preferred shares outstanding—Series J		12,000			—			—			—			—
Common shares outstanding, excluding treasury		824,046,952			855,305,745			882,152,057			919,804,436			796,272,522
Treasury shares held		99,845,629			68,586,836			41,740,524			4,088,144			5,231,665

Page 4

Yearly Data

	Years Ended December 31,
	2014			2013			2012			2011			2010
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	91,127		$	89,093		$	84,822		$	80,214		$	79,232
Taxable securities		21,770			16,395			15,262			15,334			16,054
Tax exempt securities		53			49			57			103			317
Other short-term investments		3,043			2,417			1,495			2,031			3,328
Total interest-earning assets		115,993			107,954			101,636			97,682			98,931
Cash and due from banks		2,892			2,482			2,355			2,352			2,245
Other assets		14,539			15,053			15,695			15,335			14,841
Allowance for loan and lease losses		(1,481	)		(1,757	)		(2,072	)		(2,703	)		(3,583	)
Total assets	$	131,943		$	123,732		$	117,614		$	112,666		$	112,434
Liabilities
Interest-bearing liabilities:
Interest checking		25,382		$	23,582		$	23,096		$	18,707		$	18,218
Savings		16,080			18,440			21,393			21,652			19,612
Money market		14,670			9,467			4,903			5,154			4,808
Foreign office		1,828			1,501			1,528			3,490			3,355
Other time		3,762			3,760			4,306			6,260			10,526
Certificates—$100,000 and over		3,929			6,339			3,102			3,656			6,083
Other foreign office		—			17			27			7			6
Federal funds purchased		458			503			560			345			291
Other short-term borrowings		1,873			3,024			4,246			2,777			1,635
Long-term debt		12,928			7,914			9,043			10,154			10,902
Total interest-bearing liabilities		80,910			74,547			72,204			72,202			75,436
Demand deposits		31,755			29,925			27,196			23,389			19,669
Other liabilities		3,950			4,917			4,462			4,189			3,580
Total liabilities		116,615			109,389			103,862			99,780			98,685
Equity		15,328			14,343			13,752			12,886			13,749
Total liabilities and equity		131,943		$	123,732		$	117,614		$	112,666		$	112,434
Average loans and leases (excluding held for sale)	$	90,485		$	86,950		$	82,733		$	78,533		$	77,045
Average common shares outstanding:
Basic		833,116,349			869,462,977			904,425,226			906,460,550			790,852,185
Diluted		842,967,356			894,736,445			945,554,102			949,545,420			799,381,153

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Yearly Data

	Years Ended December 31,
	2014			2013			2012			2011			2010
End of Period Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	40,801		$	39,347		$	36,077		$	30,828		$	27,274
Commercial mortgage loans		7,410			8,069			9,116			10,214			10,992
Commercial construction loans		2,071			1,041			707			1,037			2,111
Commercial leases		3,721			3,626			3,549			3,531			3,378
Subtotal—commercial		54,003			52,083			49,449			45,610			43,755
Consumer:
Residential mortgage loans		13,582			13,570			14,873			13,474			10,858
Home equity		8,886			9,246			10,018			10,719			11,513
Automobile loans		12,037			11,984			11,972			11,827			10,983
Credit card		2,401			2,294			2,097			1,978			1,896
Other consumer loans and leases		436			381			312			364			702
Subtotal—consumer		37,342			37,475			39,272			38,362			35,952
Total loans and leases	$	91,345		$	89,558		$	88,721		$	83,972		$	79,707
Average Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	41,178		$	37,770		$	32,911		$	28,546		$	26,334
Commercial mortgage loans		7,745			8,481			9,686			10,447			11,585
Commercial construction loans		1,492			793			835			1,740			3,066
Commercial leases		3,585			3,565			3,502			3,341			3,343
Subtotal—commercial		54,000			50,609			46,934			44,074			44,328
Consumer:
Residential mortgage loans		13,344			14,428			13,370			11,318			9,868
Home equity		9,059			9,554			10,369			11,077			11,996
Automobile loans		12,068			12,021			11,849			11,352			10,427
Credit card		2,271			2,121			1,960			1,864			1,870
Other consumer loans and leases		385			360			340			529			743
Subtotal—consumer		37,127			38,484			37,888			36,140			34,904
Total average loans and leases	$	91,127		$	89,093		$	84,822		$	80,214		$	79,232
Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	269		$	387		$	665		$	1,058		$	1,333
Nonaccrual loans held for sale		24			6			25			131			247
Restructured loans—(nonaccrual) held for sale		15			—			4			7			47
Restructured loans and leases (nonaccrual) portfolio		310			364			364			380			347
Other assets, including other real estate owned		165			229			257			378			494
Total nonperforming assets	$	783		$	986		$	1,315		$	1,954		$	2,468
Ninety days past due loans and leases	$	87		$	103		$	195		$	200		$	317
Nonperforming Loans ($ in millions)(nonaccrual plus renegotiated)
Commercial and industrial loans and leases	$	241		$	287		$	345		$	544		$	753
Commercial mortgage loans		146			146			296			497			581
Commercial construction loans		2			31			85			156			258
Residential mortgage loans		94			165			237			275			268
Other consumer loans and leases		135			128			95			104			114
Total nonperforming loans and leases (including held for sale)	$	618		$	757		$	1,058		$	1,576		$	1,974
Credit Charge-Offs ($ in millions)
Gross charge-offs	($	679	)	($	637	)	($	837	)	($	1,314	)	($	2,484	)
Recoveries		104			136			133			142			156
Net losses charged off	($	575	)	($	501	)	($	704	)	($	1,172	)	($	2,328	)

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