8-KRegulation FDOther EventsExhibits & Filings

FIFTH THIRD BANCORP 8-K Report, Regulation FD Disclosure (May 7, 2009)

Filed May 7, 2009For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an 8-K on May 7, 2009, to disclose the results of its Supervisory Capital Assessment conducted by the Federal Reserve Bank. The assessment revealed that, under a more adverse scenario, the company would require an additional $1.1 billion in Tier 1 common equity. This capital shortfall is partly offset by an expected $1.6 billion benefit from the previously announced sale of a majority stake in its processing business to Advent International, which was slated to close in the second quarter of 2009. The filing highlights the company's efforts to address capital needs in the challenging economic environment of 2009, influenced by regulatory oversight.

Key Highlights

  • 1Fifth Third Bancorp (FITB) announced the results of its Supervisory Capital Assessment by the Federal Reserve.
  • 2Under a more adverse scenario, FITB identified a need for $1.1 billion in additional Tier 1 common equity.
  • 3A significant portion of this need is expected to be covered by the proceeds from the sale of a majority interest in its processing business to Advent International.
  • 4The sale of the processing business was projected to provide an incremental benefit of $1.6 billion to Tier 1 common equity.
  • 5The closing of the processing business sale was anticipated in the second quarter of 2009.
  • 6The filing includes a press release and a website presentation detailing these findings.

Frequently Asked Questions

The primary reason for this 8-K filing is to publicly disclose the results of Fifth Third Bancorp's Supervisory Capital Assessment conducted by the Federal Reserve Bank, as well as to provide an update on their capital position and plans.

According to the assessment, under a more adverse scenario, Fifth Third Bancorp would need an additional $1.1 billion in Tier 1 common equity.

The company expects to address this requirement through a combination of capital generation and an anticipated $1.6 billion incremental benefit to Tier 1 common equity from the sale of a majority interest in its processing business to Advent International, which was expected to close in the second quarter of 2009.

The sale of the majority interest in Fifth Third Bancorp's processing business to Advent International was expected to close in the second quarter of 2009.