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$15.85 0.66 (4.34%)
9/5/2008 2:35 PM

Fifth Third Bancorp (FITB)

CAPS Rating:
*

The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries.

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Avatar LORDZPAIN (98.64) Submitted: 6/11/08 11:15 PM : Outperform Start Price: $22.40 FITB Score: -22.07

Showing some loyalty as FITB is one of my banks.

Fifth Third Bancorp (the Bancorp) is a diversified financial services company. As of December 31, 2007, the Bancorp operated 18 affiliates with 1,227 full-service banking centers, including 102 Bank Mart locations open seven days a week inside select grocery stores and 2,211 Jeanie automated teller machines (ATMs) in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania and Missouri. The Bancorp operates through five business segments: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions (FTPS). On November 2, 2007, the Company completed the acquisition of R-G Crown Bank, a subsidiary of R&G Financial Corporation. In June 2008, the Company completed the acquisition of First Charter Corporation

Hopefully when the banking system recovers

hopefully they will do better

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Avatar bdash (< 20) Submitted: 7/14/08 2:23 PM

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loyalty is nice. moving your money to a solid bank in nicer still. In case you haven't looked at the numbers a good deal (somewhere over 50%) of subprime borrowers refinanced their loans just before they had a reset. that means that the 2004, 2005 borrowers reset in 2006-2007 (2 and 3 year teaser periods are common on subprime loans). Subprime loans were all but stopped in mid-late 2007. Since bad credti borrowers can't just refinance in 2009 and 2010 when their loans get adjusted up and most will have negative equity on their homes they will skip payments and allow the bank to reposses the place, thus creating more massive losses on the banks' books. Since FITB is caught up in all this (they are no better than the next bank in terms of subprime holdings) I think they will be a better short than buy at this point.

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