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Fifth Third Bank, Northern Kentucky, Inc.

Covington, KY · Cert 9667

FDIC

Q3 2003

$1.5BAssets
$786.8MLoans
$1.2BDeposits
$116.8MEquity
Loan mix
29%RE $115.9M67%C&I $266.6M4%Consumer $15.2MQ3 2002Q3 2003
Deposit mix
79%Interest-bearing $910.7M21%Noninterest $242.4MQ3 2002Q3 2003

NIM

6.68%Q3 ’015.12%Q3 ’023.96%Q3 ’03-5%-16%

Non-interest income vs. expense

2.55%Q3 ’012.89%Q3 ’022.91%Q3 ’03+82551%-38%

Executive Summary

  • Earnings: ROA of 1.35%, down 61 bps year over year; NIM at 3.05%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.63%.
  • Funding: loans stand at 68.24% of deposits as of Q3 2003.

Financial Results

Return on Assets (quarter, annualized)

1.35%-61 bps YoY

Net Interest Margin (quarter, annualized)

3.05%-58 bps YoY

Efficiency Ratio (quarter, annualized)

51.68%+340 bps YoY

Tier 1 Leverage Ratio

n/a

Discrete quarter, annualized.

MetricQ3 2002Q4 2002Q1 2003Q2 2003Q3 2003YoY ΔTrend
Earnings
Return on Assets1.96%1.53%1.31%-0.81%1.35%-61 bps
Return on Equity25.79%20.72%17.16%-10.14%17.19%-860 bps
Net Interest Margin3.63%3.20%2.91%3.11%3.05%-58 bps
Efficiency Ratio48.27%58.25%61.32%52.94%51.68%+340 bps
Non-Interest Burden0.54%0.94%0.91%0.44%0.33%-20 bps
Growth
Asset Growth (YoY)11.27%14.73%13.96%9.93%10.97%-31 bps
Loan Growth (YoY)0.78%-0.44%18.10%13.78%11.45%+1,067 bps
Deposit Growth (YoY)18.53%21.89%15.22%12.23%2.78%-1,575 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.23%0.17%0.30%0.36%0.63%+40 bps
Allowance / Loans1.48%1.48%1.48%3.01%3.14%+165 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital11.39%10.74%11.08%11.90%12.00%+62 bps
Equity / Assets7.50%7.31%7.94%7.99%7.71%+20 bps
Liquidity & Funding
Loans / Deposits62.93%58.30%63.37%68.18%68.24%+531 bps
Liquid Assets / Assets0.62%0.58%0.57%0.48%0.43%-20 bps
CRE / Total Capitaln/an/an/an/an/an/an/a