Fifth Third CEO Kevin Kabat said "It was a strong earnings quarter for Fifth Third," irrespective of the Vantiv IPO, as the company continued "to see solid growth in commercial lending volumes and fee income results were particularly strong in the mortgage banking, corporate banking, and investment advisory businesses."
The strong mortgage results reflected "higher gain on sale margins and deliveries of previously originated mortgages."
Fifth Third's shares closed at $14.16 Wednesday, returning 12% year-to-date, following an 11% decline return during 2011.
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