On Jan. 18, Cincinnati-based Fifth Third Bancorp (NASDAQ:FITB) released fourth-quarter earnings for the period ended Dec. 31.
- As the headline implies, Fifth Third took an 80% hit to net income. The company took significant charges by adjusting the balance sheet and reducing leverage.
- On the bright side, net interest margin increased as a result of those balance sheet adjustments.
- President Kevin Kabat will replace CEO George Schaefer, who will stay on as chairman.
- Fifth Third holds a one-star rating in Motley Fool CAPS, our community-intelligence database. Tell us what you think about Fifth Third.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change | |
|---|---|---|---|
|
Total Revenue |
$856.0 |
$1,237.0 |
(30.8%) |
|
Net Interest Income |
$744.0 |
$735.0 |
1.2% |
|
Net Profit |
$66.0 |
$332.0 |
(80.1%) |
|
EPS |
$ 0.12 |
$0.60 |
(80.0%) |
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q4 2006 |
Q4 2005 |
Change* | |
|---|---|---|---|
|
Net Interest Margin |
3.16% |
3.11% |
0.05% |
|
Efficiency Ratio |
82.90% |
55.60% |
27.30% |
|
Nonperforming Assets / Loans & OREO |
0.61% |
0.52% |
0.09% |
|
Return on Average Assets |
0.25% |
1.27% |
(1.02%) |
|
Return on Average Equity |
2.60% |
13.90% |
(11.30%) |
Find out more about bank ratios.
Balance Sheet Highlights*
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Investments |
$18,262 |
$23,274 |
(21.5%) |
|
Loans |
$75,262 |
$70,489 |
6.8% |
|
Liabilities |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Deposits |
$60,001 |
$58,080 |
3.3% |
|
Total Liabilities |
$94,452 |
$94,508 |
(2.0%) |
Learn about bank assets and bank liabilities.
Related Companies:
- National City (NYSE:NCC)
- Comerica (NYSE:CMA)
- KeyCorp (NYSE:KEY)
Related Foolishness:
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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
Fool financial editor Joey Khattab does not own any of the shares mentioned. The Motley Fool has a disclosure policy.
