UPDATE: Fifth Third Posts Rise In Q4 Net Income

Fifth Third Bancorp (NASDAQ: FITB) reported a rise in its fourth-quarter net income on Friday.

Fifth Third's net income available to common shareholders climbed to $305 million, from $270 million, in the year-ago period. Its earnings per share came in at $0.33 per share. Analysts were expecting earnings of $0.36 per share.

Fifth Third's provisions for loan and lease losses dipped 67% to $55 million.

Fifth Third shares gained 1.03% to $13.70 in after-hours trading.