Fifth Third Q2 Earnings Hurt by Non-Cash Impairment Charge

Fifth Third Bank reported Q2/15 earnings were $292 million, down 30% from $416 million in earnings for Q2/14. Earnings per share of $0.36 was off from analysts’ expectations of $0.39 EPS.

The following highlights were excerpted from the news release:

  • The bank noted it took a Q2/15 $97 million non-cash impairment charge
    related to the announced changes to its branch network.
  • Net interest income of $892 million was down $13 million from $905
    million for the same quarter in 2014.
  • The average yield in Q2/15 was 3.28% down 25 basis points from 3.53% a
    year earlier.
  • The net interest margin of 2.90% in Q2/15 was down 25 basis points from
    3.15% in Q2/14.
  • Average Commercial Lease outstandings in Q2/15 of $3,776 million was
    up 6% from $3,555 million a year earlier.

Read the full release from Fifth Third here.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.