Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
FITB > SEC Filings for FITB > Form 8-K on 31-Mar-2014All Recent SEC Filings

Show all filings for FIFTH THIRD BANCORP

Form 8-K for FIFTH THIRD BANCORP


31-Mar-2014

Creation of a Direct Financial Obligation or an Obligation under an Off-Balan


Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

As previously announced on December 10, 2013, Fifth Third Bancorp ("Fifth Third") entered into an accelerated share repurchase transaction with Deutsche Bank AG, London Branch ("Deutsche") pursuant to which Fifth Third would purchase approximately $456 million of its outstanding common stock. Fifth Third is repurchasing the shares of its common stock as part of its 100 million share repurchase program, previously announced on March 19, 2013.

On March 26, 2014, Fifth Third was notified by Deutsche that effective Wednesday, March 26, 2014, they had finished purchasing shares under the December 10th agreement. A total of 19,084,195 shares were repurchased upon execution of the agreement, and an additional 2,294,932 were repurchased upon completion of the agreement. The additional shares are expected to settle on March 31, 2014. In total, 21,379,127 shares were repurchased under the December 10, 2013 transaction, at an average price of $21.3292.

In addition, as previously announced on January 28, 2014, Fifth Third entered into an accelerated share repurchase transaction with Deutsche pursuant to which Fifth Third would purchase approximately $99 million of its outstanding common stock. Fifth Third is repurchasing the shares of its common stock as part of its 100 million share repurchase program, previously announced on March 19, 2013.

On March 26, 2014, Fifth Third was notified by Deutsche that effective Wednesday, March 26, 2014, they had finished purchasing shares under the January 28th agreement. A total of 3,950,705 shares were repurchased upon execution of the agreement, and an additional 602,109 were repurchased upon completion of the agreement. The additional shares are expected to settle on March 31, 2014. In total, 4,552,814 shares were repurchased under the January 28, 2014 transaction, at an average price of $21.7448.

After the completion of the December 10, 2013 and January 28, 2014 agreements, Fifth Third had approximately 35 million shares of remaining repurchase authority under its old share repurchase program, previously announced on March 19, 2013. In addition, as previously announced on March 18, 2014, Fifth Third has 100 million shares of remaining repurchase authority under its new share repurchase program, which replaced the previous repurchase program announced on March 19, 2013.

Deutsche and certain of its affiliates have performed, and in the future may perform, various financial advisory and other services for Fifth Third and Fifth Third's affiliates for which they have received, and may in the future receive, customary fees and expenses.


  Add FITB to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for FITB - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.