Fifth Third Bancorp Extended $6.1 Billion in Credit in May
Bank Has Extended Nearly $30 Billion in Loans in 2009
Fifth Third Bancorp (NASDAQ: FITB), in conjunction with the U.S. Treasury, has announced that it extended $6.1 billion in loans in the month of May.
"We continue to make loans to qualified borrowers and have extended nearly $30 billion in loans so far this year," said Kevin T. Kabat chairman, president and CEO of Fifth Third Bancorp.
Here are some details of Fifth Third's lending activity for the month:
- May continued to be an exceptional month for mortgage lending, with mortgage originations for the month totaling $2.5 billion, an increase of approximately $240 million compared to April.
- A total of $105 million of new home equity lines of credit were extended during the month.
- Other consumer loan originations, which included new car loans, were $309 million in May, up slightly from April.
- New C&I commitments increased to $993 million compared to $573 million in April.
For more information about Fifth Third’s lending activities and mortgage assistance programs visit our Web site.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $119 billion in assets, operates 16 affiliates with 1,318 full-service Banking Centers, including 99 Bank Mart® locations open seven days a week inside select grocery stores and 2,354 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 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2009, had $166 billion in assets under care, of which it managed $23 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® National Global Select Market under the symbol “FITB.”