Corporate banking revenue decreased $8 million, or two  percent, in 2010, largely due to decreases in international income  and lease remarketing fees, partially offset by growth in  syndication and business lending fees. Foreign exchange derivative  income of $63 million decreased 17% driven by volume declines.  Loan syndication fees were $28 million in 2010, compared to $8  million in 2009. Investment advisory revenue increased $35 million, or 11%,  from 2009 as the result of improved market performance and  sales production that drove an increase in brokerage activity and  assets under care. Brokerage fee income, which includes Fifth  Third Securities income, increased $23 million in 2010 as investors  migrated balances to stock and bond funds due to improved  market performance, which increased commission-based transactions. As of December 31, 2010, the Bancorp had $266  billion in assets under care and managed $25 billion in assets for  individuals, corporations and not-for-profit organizations.  On June 30, 2009, the Bancorp completed the sale of a  majority interest in its merchant acquiring and financial institutions processing businesses. The Processing Business Sale  generated a pre-tax gain of $1.8 billion ($1.1 billion after-tax). As  part of the transaction, the Bancorp retained certain debit and  credit card interchange revenue and sold the financial institutions  and merchant processing portions of the business, which  historically comprised approximately 70% of total card and  processing revenue. As a result of the sale, card and processing  revenue decreased $299 million, or 49%, compared to 2009. Card  issuer interchange, which was retained by the Bancorp, increased  eight percent, to $284 million, compared to 2009 due to strong  growth in debit and credit card transaction volumes.  Other noninterest income decreased $73 million in 2010  compared to 2009. The components of other noninterest income  are shown in Table 9. The decrease was primarily due a $244  million gain relating to the sale of the Bancorp’s Visa, Inc. Class B  shares in 2009 and a $27 million decrease in revenue in 2010  related to the TSA entered into as part of the Processing Business  Sale, partially offset by an increase of $196 million in BOLI  income. The year ended December 31, 2010 includes a $152  million litigation settlement related to one of the Bancorp’s BOLI  policies while 2009 includes $53 million in charges to record a  reserve in connection with the intent to surrender one of the  Bancorp’s BOLI policies as well as losses related to market value  declines.  Net securities gains totaled $47 million in 2010 compared to  $10 million of net securities losses during 2009.  Total noninterest expense remained relatively flat in 2010  compared to 2009 as increases in salaries, wages and incentives  and the expense for representation and warranties were largely  offset by a decrease in the provision for unfunded commitments  and letters of credit, lower FDIC insurance and other taxes and a  decrease in card and processing expense. The components of  noninterest expense are shown in Table 10. Noninterest expense  in 2010 included $49 million of expenses related to the TSA and  $25 million in legal fees associated with the settlement of claims  with the insurance carrier on one of the Bancorp’s BOLI policies  Noninterest expense in 2009 included $76 million of expense  related to the TSA and a $55 million FDIC special assessment  charge, partially offset by a $73 million reduction in the Visa  litigation reserve. Total personnel costs (salaries, wages and incentives plus  employee benefits) increased $94 million, or six percent in 2010  compared to 2009 due primarily to increased base, variable and  incentive compensation, partially offset by lower deferred compensation. Base and incentive compensation increased due  primarily to investments in the sales force and expanded banking  center hours during 2010. As of December 31, 2010, the Bancorp  employed 21,613 employees, of which 6,742 were officers and  2,519 were part-time employees. Full-time equivalent employees  totaled 20,838 as of December 31, 2010 compared to 20,998 as of  December 31, 2009. The decrease in full-time equivalent  employees is primarily due to the transfer of employees on  January 1, 2010 from the Processing Business Sale, partially offset  by an increase in the sales force in 2010.  Card and processing expense includes third-party processing  expenses, card management fees and other bankcard processing  expenses. Card and processing expense decreased $85 million, or  44%, in 2010 compared to 2009 due to the Processing Business  Sale in June of 2009. Total other noninterest expense increased $23 million in  2010 compared to 2009. The components of other noninterest  expense are shown in Table 11. The increase from 2009 was  primarily due to increased charges to representation and warranty  reserves related to residential mortgage loans sold to third-parties,  as well as higher impairment on affordable housing investments,  higher marketing expense due to increased consumer marketing  campaigns and an increase in professional services fees primarily  due to legal expenses related to the settlement of one of the  Bancorp’s BOLI policies. The increase in affordable housing  investment impairment was due to an increase in the volume of  investments. These impacts were partially offset by a decrease in  the provision for unfunded commitments and letters of credit,  lower FDIC insurance and other taxes and a decrease in intangible  asset amortization due to certain customer deposit intangibles  Fifth Third Bancorp 33  For the years ended December 31 ($ in millions)  2010 2009 2008 2007 2006 Salaries, wages and incentives  $1,430 1,339 1,337 1,239 1,174 Employee benefits  314 311 278 278 292 Net occupancy expense  298 308 300 269 245 Technology and communications  189 181 191 169 141 Equipment expense  122 123 130 123 116 Card and processing expense  108 193 274 244 184 Goodwill impairment  - - 965 - - Other noninterest expense 1,394 1,371 1,089 989 763 Total noninterest expense  $3,855 3,826 4,564 3,311 2,915 Efficiency ratio  60.7% 46.9 70.4 60.2 59.4 TABLE 10: NONINTEREST EXPENSE Noninterest Expense For the years ended December 31 ($ in millions) 2010  2009 2008 BOLI income (loss) 194  (2) (156) Operating lease income  62  59 47 Gain (loss) on loan sales  51  38 (11) TSA revenue  49  76 - Insurance income  38  47 36 Cardholder fees  36 48 58 Consumer loan and lease fees  32  43 51 Banking center income  22  22 31 Loss on sale of OREO  (78)  (70) (60) Gain on sale/redemption of Visa,  Inc. ownership interests  -  244 273 Litigation settlement  - 76 Other, net  -  (26) 18 Total other noninterest income  $406  $479 363 TABLE 9: COMPONENTS OF OTHER NONINTEREST  INCOME  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS