Summary
This filing is an amendment to a previous Form 8-K filed by Fifth Third Bancorp on August 16, 2007. The amendment clarifies and corrects specific details regarding a previously announced transaction. The primary corrections relate to the expected dilutive impact on 2008 earnings per share (EPS) and the core deposit premium associated with the transaction. Investors should note that the dilutive impact on 2008 EPS is now stated as approximately one percent, down from the previously reported two percent, with a specific impact of $0.03 per share, which was accurately presented in a separate exhibit. Additionally, the core deposit premium has been revised downwards.
Key Highlights
- 1Amendment #1 to Form 8-K filed by Fifth Third Bancorp on August 17, 2007.
- 2Corrects previously reported financial information related to an August 16, 2007 transaction.
- 3Reduces the expected dilutive impact on 2008 earnings per share from approximately 2% to approximately 1%.
- 4Clarifies the dilutive impact of $0.03 per share on 2008 EPS, which was accurately stated in Exhibit 99.2 of the original filing.
- 5Revises the core deposit premium of the transaction from approximately 32% to approximately 27%.
- 6Corrects a specific calculation detail in a presentation slide regarding the assumption for the total core deposit base used for EPS accretion analysis.
Frequently Asked Questions
The primary purpose of this amended filing (Form 8-K/A) is to correct and clarify specific financial details that were incorrectly stated in the original Form 8-K filed on August 16, 2007, concerning a recent transaction.
The expected dilutive impact on Fifth Third Bancorp's 2008 earnings per share has been revised downwards from approximately two percent to approximately one percent. The specific dilutive impact of $0.03 per share was correctly presented in Exhibit 99.2 of the original filing.
The core deposit premium for the transaction has been revised downwards. The original press release indicated approximately 32%, while the amendment states it is approximately 27%. This correction also appears in a website presentation exhibit.
Yes, a specific calculation in a presentation slide (Exhibit 99.2) regarding the total core deposit base assumption for EPS accretion analysis was corrected from $2.3 billion to $2.7 billion. However, this correction did not affect other related calculations, such as the intangibles amortization.