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.