Fifth Third reports loans

March 15, 2010
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Fifth Third Bancorp (NASDAQ: FITB), in conjunction with the U.S. Treasury, announced that it extended $8.2 billion in loans in the month of December.

"I am proud to say that Fifth Third Bank closed out the year by making $8.2 billion in loans to qualified borrowers in the month of December,” Kevin T. Kabat, chairman, president and CEO, said in a news release. “That’s the second highest monthly loan total for all of 2009 and a solid accomplishment given that economic conditions remain challenging and many businesses and consumer are still taking a conservative approach to borrowing."

Some highlights include:

  • New commercial and industrial commitments increased to $1.9 billion in December compared with $1.1 billion in November.

  • C&I renewals for existing accounts for December totaled $2.4 billion compared to $1.5 billion in November.

  • Small business commitments increased to $408 million for the month, up from November’s $275 million.

  • Total mortgage loan originations increased $183 million to $1.8 billion for December, driven by $1.4 billion of refinancing and nearly $450 million of new home purchases.

  • New credit card extensions increased to $121 million for the month, and other consumer loan originations, including new car loans, increased $45 million from November.

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati.

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