Fifth Third Bancorp Announces Results of Annual Meeting

CINCINNATI, April 20 /PRNewswire-FirstCall/ -- Fifth Third Bancorp (Nasdaq: FITB)  has announced that its shareholders have re-elected the following directors at the Bancorp's Annual Meeting held earlier today at the Hyatt Regency Hotel in Cincinnati:

• Darryl Allen, retired chairman, CEO and president of Aeroquip-Vickers, Inc.
• Ulysses L. Bridgeman, Jr., owner and president of Manna, Inc., and ERJ, Inc.
• Emerson L. Brumback, retired president and COO of M&T Bank.  
• James P. Hackett, president, CEO and director of Steelcase, Inc.
• Gary R. Heminger, executive vice president of Marathon Oil Company and president of Marathon Petroleum Company LLC.
• Jewell D. Hoover, principal of Hoover and Associates, LLC.
• Kevin T. Kabat, president, chairman and CEO of Fifth Third Bancorp.
• Dr. Mitchell D. Livingston, vice president for Student Affairs and Chief Diversity Officer, University of Cincinnati.
• Hendrik G. Meijer, co-chairman and CEO, Meijer, Inc.
• John J. Schiff, Jr., chairman and director, Cincinnati Financial Corporation.
• Dudley S. Taft, president and director of Taft Broadcasting Company.
• Marsha C. Williams, senior vice president and Chief Financial Officer, Orbitz Worldwide, Inc.

Fifth Third shareholders also approved the following:

• A proposal to amend the Bancorp Code of Regulations in order to authorize the board of directors to make changes to the Code of Regulations without requiring a shareholder vote if permitted by Ohio law.
• A proposal to approve the appointment of Deloitte and Touche LLP.
• The shareholders, by advisory vote, also approved the executive compensation practices.

A proposal to amend the Fifth Third Bancorp Articles of Incorporation and Code of Regulations in order to implement a majority voting standard for uncontested elections of directors passed, but will not be implemented because a related proposal to amend the Bancorp's Articles of Incorporation and Code of Regulations in order to eliminate cumulative voting in the election of directors failed.  A shareholder proposal to adopt a policy that would require a chairman of the board who is an independent director also failed.  

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $113 billion in assets, operates 16 affiliates with 1,309 full-service Banking Centers, including 102 Bank Mart® locations open seven days a week inside select grocery stores and 2,367 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2009, has $187 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ® National Global Select Market under the symbol "FITB."

SOURCE Fifth Third Bancorp

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