8-K/ARegulation FDExhibits & Filings

FIFTH THIRD BANCORP 8-K/A Report, Regulation FD Disclosure (Apr 25, 2011)

Filed April 25, 2011For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an amendment to its Form 8-K on April 25, 2011, to clarify specific financial outlook information previously released on April 21, 2011, related to its first quarter 2011 earnings. The primary purpose of this amendment was to provide greater precision regarding management's expectations for the second quarter and second half of 2011. Key clarifications involved the distinction between guidance for the second quarter versus the second half of 2011, particularly concerning pre-provision net revenue growth. The amendment also clarified that the expectation for second-half revenue growth incorporated an assumption about the negative impact of potential debit interchange fee caps. Furthermore, the outlook for average loans and leases was adjusted to exclude loans held for sale, aligning it more precisely with management's prepared remarks and specifying guidance for both the second quarter and second half of the year.

Key Highlights

  • 1Amendment clarifies financial outlook for Q2 and H2 2011 previously released on April 21, 2011.
  • 2Distinction between Q2 2011 and H2 2011 expectations for pre-provision net revenue growth has been clarified.
  • 3The assumption of a negative impact from potential debit interchange fee caps was incorporated into the H2 2011 pre-provision net revenue outlook.
  • 4Guidance for average loans and leases was revised to exclude loans held for sale.
  • 5Outlook for average loans and leases now clearly specifies expectations for both Q2 2011 and H2 2011.
  • 6The amendment corrects Slide 20 of the previously filed Exhibit 99.2.
  • 7Information furnished under this 8-K/A is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.

Frequently Asked Questions

The amendment is being filed to provide additional clarity and make specific modifications to the financial outlook information that was originally released on April 21, 2011, in connection with the company's first quarter 2011 earnings. The changes focus on refining expectations for the second quarter and second half of 2011.

The amendment clarifies expectations for pre-provision net revenue growth in the second half of 2011, explicitly stating that this outlook incorporates an assumption regarding the negative impact of potential debit interchange fee caps. Additionally, the guidance for average loans and leases has been revised to exclude loans held for sale and now clearly delineates expectations for both the second quarter and the second half of 2011.

The clarification is important because it reveals that Fifth Third Bancorp's revenue projections for the second half of 2011 are based on an assumption that debit interchange fees will be negatively affected by potential legislative caps. This provides investors with a more transparent understanding of the assumptions underlying the company's forward-looking statements.

No, this amendment is specifically related to the *outlook* or *forward-looking statements* for the second quarter and second half of 2011. It does not alter the reported financial results for the first quarter of 2011. It is a refinement of management's expectations for future performance.