Fifth Third Bancorp reported full year 2012 net income of $1.6 billion, up 22% from net income of $1.3 billion in 2011. Fourth quarter 2012 net income was $399 million, an increase of 10% from net income of $363 million in the third quarter of 2012 and 27% from net income of $314 million in the fourth quarter of 2011.
Commercial Lending highlights from press release:
- Average commercial portfolio loan and lease balances were up $788 million, or 2%, sequentially and increased $3.1 billion, or 7%, from the fourth quarter of 2011.
- Average C&I loans increased 4% sequentially and 15% compared with the fourth quarter of 2011.
- Average commercial mortgage and commercial construction loan balances combined declined 4% sequentially and 13% from the same period the previous year.
- Commercial line usage, on an end of period basis, was 31% of committed lines in the fourth quarter of 2012 compared with 32% in the third quarter of 2012 and 32% in the fourth quarter of 2011.
Read the full Fifth Third earnings press release.