On Oct. 19, Fifth Third Bancorp (NASDAQ:FITB) released third-quarter earnings for the period ended Sept. 30.

  • Net interest income increased almost 6% year over year and non-interest income grew 9%, with growth across nearly every category except mortgage banking.
  • The bank repurchased 2.9 million shares for a total of $110 million and expects net interest margin in the range of 3.35%-3.40% for 2007.
  • Fifth Third sports a Motley Fool CAPS rating of one star, the lowest a stock can have. Competitors National City (NYSE:NCC) and US Bancorp (NYSE:USB) carry a one-star and four-star rating, respectively.

(Figures in millions, except per-share data)

Income Statement Highlights

Q3 2007

Q3 2006

Change

Total Revenue

$1,343

$1,294

3.8%

Net Interest Income

$760

$719

5.7%

Net Profit

$376

$377

(0.3%)

EPS

$0.71

$0.68

4.4%

*Non-GAAP EPS as reported by the company.

Get back to basics with a look at the income statement.

Ratio Checkup

Q3 2007

Q3 2006

Change*

Net Interest Margin

3.34%

2.99%

0.35%

Efficiency Ratio

55.00%

55.50%

(0.50%)

Nonperforming Assets / Assets

0.68%

0.39%

0.29%

Return on Average Assets

1.46%

1.41%

0.05%

Return on Average Equity

16.00%

15.10%

0.90%

*Expressed in percentage points.

Find out more about bank performance ratios.

Balance Sheet Highlights

Assets

Q3 2007

Q3 2006

Change

Investments

$11,998

$20,162

(40.5%)

Loans

$79,015

$74,352

6.3%

Liabilities

Q3 2007

Q3 2006

Change

Deposits

$69,382

$68,643

1.1%

Total Liabilities

$94,921

$95,806

(0.9%)

Learn about bank assets and bank liabilities.

Related Foolishness:

US Bancorp is an Income Investor recommendation.

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