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» VISIT US ONLINE @ DSNEWS.COM 63 LENDER/SERVICER PROFILE Fifth Third Bank REGIONAL Sources: www.53.com (1/24/2014), Standard & Poor's (1/25/2014), Fitch Ratings (1/25/2014) RECOGNITION » Listed one of the Top 40 Wealth- Management Firms in the U.S. Firms by Barron. » No. 159 on the Barron's 500 ranking, which judges companies based on sales growth and cash- flow returns on investment. » No. 361 on the 2013 Fortune 500, an annual listing of the largest U.S. corporations based on revenues, profits, assets, and other factors. The bank's 2013 showing beat out its rank of 372 in 2012. » 2013 Gallup Great Workplace Award » Ranked No. 100 on its list of the Top 500 Most Valuable Banking Brands in the world by Brand Finance. VERBOSITY "We expect Fifth Third's earnings to increase by the low- to mid-single digits in 2014, depending on the strength of the U.S.' economic expansion. . . . We think the decline in mortgage banking revenue will continue to hurt noninterest income, although an acceleration of home purchase lending and positive valuation adjustments on mortgage servicing assets may somewhat offset the impact of reduced refinancing volumes." - Standard & Poor's Outlook Headquarters: Cincinnati, Ohio Phone: 800.972.3030 Online: 53.com Fifth Third's history goes all the way back to 1858, when it opened its doors as the Bank of the Ohio Valley; it took on its current name in the early 20th century. Today, Fifth Third operates 18 affiliates with more than 1,300 full-service locations in a dozen states ranging from Ohio to West Virginia to Florida. In 2013, the bank pulled down an estimated $1.8 billion, benefiting in part from a prior settlement with Freddie Mac over repurchase requests. COMPANY'S LATEST January 21, 2014 Fifth Third's Kabat Named to Fed Board Fifth Third Bancorp CEO Kevin Kabat has been named to the board of the Federal Reserve Bank of Cleveland. Kabat, CEO of Fifth Third (Nasdaq: FITB) since April 2007, was the only new appointment to the Federal Reserve board. It also reappointed three directors. Kabat is one of three Cleveland Fed directors who are elected by member banks to represent those banks. Cincinnati-based First Financial Bancorp CEO Claude Davis is one of the other directors in that category. - Cincinnati Business Courier January 23, 2014 Fifth Third Profit Up Slightly on Improved Credit Fifth Third Bancorp (FITB) said its profit climbed slightly in the fourth quarter on improved credit quality and smaller loan-loss provisions, masking a decline in revenue. The Cincinnati-based lender said it earned $402 million, up from $399 mil- lion a year earlier. Per-share earnings, which reflect the payment of preferred dividends, were flat at 43 cents. The current quarter included $69 million in charges related to an increase in litigation reserves, a $91 million benefit from the sale of its shares in payment processor Vantiv Inc. (VNTV) and other items. Like other regional banks, Fifth Third saw a plunge in mortgage-banking revenue as rising mortgage rates stymied loan refinancing activity by bor- rowers. Mortgage-banking revenue dropped 51% to $126 million from a year earlier. - The Wall Street Journal January 17, 2014 Fifth Third Plans to Discontinue Direct Deposit Advance Service Fifth Third Bancorp (FITB), the Cincinnati-based lender, will stop offering direct deposit advance services amid increasing regulatory scrutiny. The bank will no longer enroll customers in its Early Access program starting Jan. 31, and phase out the service for all clients by the end of the year, Fifth Third said today in a statement. The lender joins U.S. Bancorp, Wells Fargo & Co. and Regions Financial Corp. in discontinuing the product this week. - Bloomberg SERVICER RATINGS Fitch Ratings: Long Term Issuer Default Rating >> A; Short Term Issuer Default Rating >> F1 Standard & Poor's: Outlook Stable KEY PERSONNEL Greg D. Carmichael President and COO Frank R. Forrest EVP and Chief Risk and Credit Officer Tayfun Tuzun EVP and CFO Kevin T. Kabat Vice Chairman and CEO Staffing » More than 1,300 locations in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia, and North Carolina SERVICING SUMMARY* Net Income Q4 2013 Comparison » Q4 2013: $402 million » Q3 2013: $421 million » Q4 2012: $399 million » Quarter-over-quarter change: -4 percent » Year-over-year change: +1 percent Year End Comparison » Full-year 2013: $1.8 billion » Full-year 2012: $1.6 billion » Year-over-year change: +16 percent Net income available to common shareholders » Q4 2013 Comparison » Q4 2013: $383 million ($0.43 per diluted share) » Q3 2013: $421 million ($0.47 per diluted share) » Q4 2012: $390 million ($0.43 diluted share) Year End Comparison: » Full year 2013: $1.8 billion ($2.02 per diluted share) » Full year 2012: $1.5 billion ($1.66 per diluted share) » Year-over-year change: +17 percent Q4 2013 Expenses » $69 million in net charges to increase litigation reserves » $8 million of debt extinguishment costs associated with the redemption of Fifth Third Capital Trust IV trust preferred securities (TruPS) » $8 million contribution to Fifth Third Foundation » $8 million in severance expense *Source FITB press release (1/23/14) Headquarters: Cincinnati, Ohio HEADQUARTERS