CINCINNATI (AP) — Fifth Third Bancorp reported Thursday that its first-quarter net income fell 25 percent, mostly on increased legal costs and a decline in its investment in its former Vantiv payment-processing subsidiary.
The Cincinnati-based company says net income fell to $309 million, or 36 cents per share, for the three months ended March 31. That is down from earnings of $413 million, or 46 cents per share, a year ago. Analysts surveyed by FactSet expected 42 cents per share, on average.
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