Fifth Third's ratings reflect the company's outstanding financial performance, a stellar performance record unmarred for over a decade. Double-digit revenue growth, supported by equally strong loan growth and a comprehensive fee-generating capability have led to an industry-leading efficiency ratio rapidly approaching 40%, and a rather superlative operating ROA of 2.11%, in fourth quarter 2000. The company's funding profile is also attractive, with deposit growth unmatched by peers. Capital levels have also been extremely strong. Tangible common is a very high 9.71% and risk-based Tier 1 registered a top 12.71% With a decent amount of experience at buying lower-rated entities, especially thrifts, and converting them into more profitable shops, Fifth Third is well poised to exploit the Evansville, Ind.-based CNB Bancshares
