Fifth Third Bancorp (FITB) Tops Q2 EPS by 3c

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Go back to Fifth Third Bancorp (FITB) Tops Q2 EPS by 3c

Fifth Third Announces Second Quarter 2016 Net Income to Common Shareholders of $310 Million, or $0.40 Per Diluted Share

July 28, 2016 6:30 AM EDT

Announces accelerated Tax Receivable Agreement (TRA) and extended operating agreement with Vantiv

2Q16 net income available to common shareholders of $310 million, or $0.40 per diluted common share Reported results included the following items which had a negative $0.01 impact on reported 2Q16 EPS: A $50 million pre-tax (~$33 million after-tax) charge related to the valuation of the Visa total return swap primarily reflecting the rejection of the merchant litigation settlement A $19 million pre-tax (~$12 million after-tax) positive valuation adjustment on the Vantiv warrant An $11 million pre-tax (~$7 million after-tax) gain... More