Fifth Third posts higher earnings

Fifth Third Bancorp reported second quarter earnings of 75 cents per diluted compared with 68 cents per diluted share for the same period in 2002.

Net income in the second quater totaled nearly $437.5, an eight percent increase above $404 million in 2002.

Second quarter return on average assets and return on

average equity were 2.02 percent and 19.9 percent, respectively, compared with 2.20 percent and 20.2 percent in

2002's second quarter.

"We are extremely pleased to deliver solid financial results in a challenging environment," said George A.

Schaefer, Jr., president and CEO, in a statement. "Earnings this quarter were highlighted by very strong loan growth throughout all of

our markets, a stable net interest margin and credit quality that remains among the best in the industry."