Fifth Third posts $72 million loss in 1st quarter as noninterest income slipped

Fifth Third posts $72M loss in 1st quarter

CINCINNATI — Fifth Third Bancorp says its losses nearly tripled in the first quarter as the regional bank’s noninterest income dipped.

The Cincinnati-based banking company said Thursday that it lost $72 million in the three months ended March 31, or 9 cents per share. A year ago, Fifth Third lost $26 million, or 4 cents a share.

Analysts polled by Thomson Financial, however, expected a loss of 18 cents a share. Those estimates typically exclude one-time gains and charges.

Noninterest income slid 4 percent from the previous quarter, though Fifth Third says mortgage banking results were stronger than expected. Net interest income increased 2 percent.

Cincinnati-based Fifth Third has 16 affiliates with offices in 12 states.

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