You have reached your limit of free articles this month.

Enjoy unlimited access to SpringfieldNewsSun.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.

X

Welcome to SpringfieldNewsSun.com

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

Fifth Third Bancorp 1Q profit dips


CINCINNATI — Regional bank Fifth Third Bancorp’s first-quarter net income dipped 2 percent as it made less from deposits and loans as well as fees and other sources.

Fifth Third is the overall largest bank in the Cincinnati-Dayton region.

The Cincinnati company said Thursday that it earned $413 million, or 46 cents per share, for the three months ended March 31. That compares with $421 million, or 45 cents per share, a year ago. Analysts expected earnings of 39 cents a share.

Earnings from deposits and loans, or net interest income, declined to $893 million from $903 million. Income from fees and other sources slipped to $743 million from $769 million.

Net charge-offs, or the amount of money lost on bad loans, fell to $133 million from $220 million — the lowest level since 2007.

“Credit trends continued to be favorable, with net charge-offs declining 10 percent,” CEO Kevin Kabat said in a statement.

“Net income to common shareholders of $413 million was among the best results in company history,” said Kabat, who pointed to strength in commercial and industrial lending and also in residential mortgage loans.

Fifth Third last month declared a cash dividend on its common shares of 11 cents for the first quarter of 2013. Its dividend had been cut to 1 cent per share in late 2008.


Reader Comments ...


Next Up in Business

Waffle House co-founder dies a month after business partner
Waffle House co-founder dies a month after business partner

Both of the founders of Waffle House have died, just two months apart. Co-founder Tom Forkner died earlier this week at 98 years old, just two months after his business partner Joe Rogers Sr. died in early March. Rogers was 97 years old. “Tom will be remembered as a man of honesty and integrity,” Waffle House Chairman Joe Rogers Jr. said...
Ohio’s largest 100 employers in 2017: Walmart tops the list
Ohio’s largest 100 employers in 2017: Walmart tops the list

Walmart is back on top as Ohio’s biggest employer, regaining the No. 1 spot from the Cleveland Clinic, which usurped the giant Bentonville, Ark.-based retailer last year, according to a new list of the state’s top 100 employers. Walmart — with 173 retail operations, including nearly two dozen in the Dayton area — has 50,500...
PHOTOS: Nearly $1M Washington Twp. home for sale
PHOTOS: Nearly $1M Washington Twp. home for sale

A Washington Twp. house that features panoramic views of a wooded lawn is on sale for nearly $1 million. The home, located at 10765 Falls Creek Lane in the Waterbury Woods subdivision, is listed for $999,000 by Coldwell Banker Heritage Realtors. It sits on three-fourths of an acre property on a cul-de-sac. The 8,350 square feet of living space features...
Time running out on Premier, UnitedHealthcare negotiations
Time running out on Premier, UnitedHealthcare negotiations

Negotiations between southwest Ohio’s largest health system, Dayton-based Premier Health, and UnitedHealthcare, the nation’s largest health insurance company, remained at a standstill Thursday with the first deadline for their contract to expire rapidly approaching. UnitedHealthcare’s contract with Premier hospitals is set to expire...
Airfare decreases at local airports
Airfare decreases at local airports

Average airfare at airports in Dayton, Columbus and Cincinnati has dropped in the past year, but still remains among the highest in the United States. Five airports in the region rank in the top 50 most expensive in the country, including Dayton International Airport, John Glenn International Airport and Cincinnati/Northern Kentucky International Airport...
More Stories