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Stock Market & Financial Investment News

News Breaks
December 12, 2012
16:34 EDTFITB, VNTVFifth Third Bancorp prepays $1B term debt, takes $134M pre-tax charge
Fifth Third (FITB) sold a total of 13.7M shares of Vantivís (VNTV) Class A common stock. The sale represents approximately 16.3% of Fifth Thirdís ownership position in Vantiv. Fifth Third expects to recognize a pre-tax gain of approximately $155M, approximately $100M after-tax, during Q4. Fifth Third has prepaid the $1B of FHLB term debt that was scheduled to mature on January 5, 2016. This action resulted in a prepayment charge of $134M pre-tax. Fifth Third expects net interest savings through the maturity date of approximately the same amount. This would represent approximately $40M-$45M in annual net interest income benefit, or approximately 4 bps benefit to net interest margin.
News For FITB;VNTV From The Last 14 Days
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December 9, 2014
10:23 EDTFITBOn The Fly: Analyst Initiation Summary
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06:43 EDTFITBFifth Third Bancorp initiated with a Buy at Guggenheim
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