CINCINNATI (AP) - Regional banker Fifth Third Bancorp says its fourth-quarter net income rose 28 percent, helped by improving credit conditions.
The Cincinnati company earned $390 million, or 43 cents per share, for the period ended Dec. 31. That compares with $305 million, or 33 cents per share, a year ago.
Analysts expected earnings of 41 cents per share.
Non-interest income, which includes revenue from fees and other sources, surged 60 percent to $880 million.
The bank's business has rebounded in the aftermath of the nation's financial and housing crisis that hit particularly hard in key markets in Florida and Michigan. In September Fifth Third raised its third-quarter dividend to 10 cents per share. Its dividend had been cut to 1 cent per share in late 2008.
Fifth Third has more than 1,300 banks in 12 states.
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