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%)

*Average balance sheet for the quarter.

Learn about bank assets and bank liabilities.

Related Companies:

  • National City (NYSE:NCC)
  • Comerica (NYSE:CMA)
  • KeyCorp (NYSE:KEY)

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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.