Fifth Third Releases Results of 2015 Dodd-Frank Act Company-Run Capital Stress Test
March 05 2015 - 5:03PM
Business Wire
Fifth Third Bancorp (NASDAQ: FITB) today released the results of
its company-run stress test as required by the Dodd-Frank Act
stress testing rules (12 CFR Part 252), or “DFAST.” These rules
require that covered companies disclose certain results from its
stress test including: a description of the types of risk included
in the stress test, a general description of methodologies used in
the stress test, estimates of certain financial results and pro
forma capital ratios, and an explanation of the most significant
causes of the changes in regulatory capital ratios. The results are
available on Fifth Third’s Investor Relations website at
http://ir.53.com by clicking on “Financials & Regulatory
Filings”. The results are also available at the following link:
http://phx.corporate-ir.net/phoenix.zhtml?c=72735&p=disclosures.
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. As of December 31, 2014, the
Company had $139 billion in assets and operated 15 affiliates with
1,302 full-service Banking Centers, including 102 Bank Mart®
locations, most open seven days a week, inside select grocery
stores and 2,586 ATMs in Ohio, Kentucky, Indiana, Michigan,
Illinois, Florida, Tennessee, West Virginia, Pennsylvania,
Missouri, Georgia and North Carolina. Fifth Third operates four
main businesses: Commercial Banking, Branch Banking, Consumer
Lending, and Investment Advisors. Fifth Third also has a 22.8%
interest in Vantiv Holding, LLC. Fifth Third is among the largest
money managers in the Midwest and, as of December 31, 2014, had
$308 billion in assets under care, of which it managed $27 billion
for individuals, corporations and not-for-profit organizations.
Investor information and press releases can be viewed at
www.53.com. Fifth Third's common stock is traded on the NASDAQ®
Global Select Market under the symbol "FITB."
Forward-Looking Statements
This report contains statements that we believe are
“forward-looking statements” within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Rule 175 promulgated
thereunder, and Section 21E of the Securities Exchange Act of
1934, as amended, and Rule 3b-6 promulgated thereunder. These
statements relate to our financial condition, results of
operations, plans, objectives, future performance or business. They
usually can be identified by the use of forward-looking language
such as “will likely result,” “may,” “are expected to,” “is
anticipated,” “estimate,” “forecast,” “projected,” “intends to,” or
may include other similar words or phrases such as “believes,”
“plans,” “trend,” “objective,” “continue,” “remain,” or similar
expressions, or future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” or similar verbs. You
should not place undue reliance on these statements, as they are
subject to risks and uncertainties, including but not limited to
the risk factors set forth in our most recent Annual Report on Form
10-K as updated by our Quarterly Reports on Form 10-Q. When
considering these forward-looking statements, you should keep in
mind these risks and uncertainties, as well as any cautionary
statements we may make. Moreover, you should treat these statements
as speaking only as of the date they are made and based only on
information then actually known to us.
There are a number of important factors that could cause future
results to differ materially from historical performance and these
forward-looking statements. Factors that might cause such a
difference include, but are not limited to: (1) general
economic conditions and weakening in the economy, specifically the
real estate market, either nationally or in the states in which
Fifth Third, one or more acquired entities and/or the combined
company do business, are less favorable than expected;
(2) deteriorating credit quality; (3) political
developments, wars or other hostilities may disrupt or increase
volatility in securities markets or other economic conditions;
(4) changes in the interest rate environment reduce interest
margins; (5) prepayment speeds, loan origination and sale
volumes, charge-offs and loan loss provisions; (6) Fifth
Third’s ability to maintain required capital levels and adequate
sources of funding and liquidity; (7) maintaining capital
requirements and adequate sources of funding and liquidity may
limit Fifth Third’s operations and potential growth;
(8) changes and trends in capital markets; (9) problems
encountered by larger or similar financial institutions may
adversely affect the banking industry and/or Fifth Third;
(10) competitive pressures among depository institutions
increase significantly; (11) effects of critical accounting
policies and judgments; (12) changes in accounting policies or
procedures as may be required by the Financial Accounting Standards
Board (FASB) or other regulatory agencies; (13) legislative or
regulatory changes or actions, or significant litigation, adversely
affect Fifth Third, one or more acquired entities and/or the
combined company or the businesses in which Fifth Third, one or
more acquired entities and/or the combined company are engaged,
including the Dodd-Frank Wall Street Reform and Consumer Protection
Act; (14) ability to maintain favorable ratings from rating
agencies; (15) fluctuation of Fifth Third’s stock price;
(16) ability to attract and retain key personnel;
(17) ability to receive dividends from its subsidiaries;
(18) potentially dilutive effect of future acquisitions on
current shareholders’ ownership of Fifth Third; (19) effects
of accounting or financial results of one or more acquired
entities; (20) difficulties from Fifth Third’s investment in,
relationship with, and nature of the operations of Vantiv, LLC;
(21) loss of income from any sale or potential sale of
businesses that could have an adverse effect on Fifth Third’s
earnings and future growth; (22) ability to secure
confidential information and deliver products and services through
the use of computer systems and telecommunications networks; and
(23) the impact of reputational risk created by these
developments on such matters as business generation and retention,
funding and liquidity.
You should refer to our periodic and current reports filed with
the Securities and Exchange Commission, or “SEC,” for further
information on other factors, which could cause actual results to
be significantly different from those expressed or implied by these
forward-looking statements.
Fifth Third BancorpJim Eglseder (Investors),
513-534-8424Laura Wehby (Investors),
513-534-7407Larry Magnesen (Media), 513-534-8055
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