Regional bank Fifth Third Bancorp 1Q profit dips PDF  | Print |  E-mail
Written by Associated Press   
Thursday, 18 April 2013 08:32

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

The Cincinnati company 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's third quarter.

Copyright 2013 The Associated Press.