Fifth Third Bancorp/Flaherty & Crumrine SC 13G
 

 
 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) and (d) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(b) UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. )1

Flaherty & Crumrine PFD Income
(Name of Issuer)
Common Shares
(Title of Class of Securities)
33848E106
(CUSIP Number)
December 31, 2007
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     þ Rule 13d-1(b)

     o Rule 13d-1(c)

     o Rule 13d-1(d)

1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 
 

 

                     
CUSIP No.
  
33848E106  
 Schedule 13G  Page  
2 
   of   
9 

 

           
1   NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

FIFTH THIRD BANCORP               31-0854434
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
  (a)   þ
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  OHIO
     
This report relates to beneficial holdings by Fifth Third Bancorp, through several of its subsidiaries, of outstanding shares of the Common Stock of the Issuer. The following tabulations set forth the shares with respect of which voting rights are held or shared and those shares to which there is dispositive power. The following are held in fiduciary accounts in Fifth Third Bancorp’s subsidiaries and are deemed beneficially owned:
 
       
  5   SOLE VOTING POWER
     
NUMBER OF   596,391 shares
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,175 shares
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   590,196 shares
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    20,767 shares
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  611,893
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  5.21%
     
12   TYPE OF REPORTING PERSON*
   
  HC

 

                     
CUSIP No.
  
33848E106 
 Schedule 13G  Page  
3 
   of   
9 

 

           
1   NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

FIFTH THIRD BANK — an Ohio Banking Corporation                 31-0854434
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
  (a)   þ
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  OHIO
     
This report relates to beneficial holdings by Fifth Third Bancorp, through several of its subsidiaries, of outstanding shares of the Common Stock of the Issuer. The following tabulations set forth the shares with respect of which voting rights are held or shared and those shares to which there is dispositive power. The following are held in fiduciary accounts in Fifth Third Bancorp’s subsidiaries and are deemed beneficially owned:
 
       
  5   SOLE VOTING POWER
     
NUMBER OF   189,586 shares
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0 shares
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   191,586 shares
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0 shares
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  191,586
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  1.63%
     
12   TYPE OF REPORTING PERSON*
   
  BK

 

                     
CUSIP No.
  
33848E106  
 Schedule 13G  Page  
4 
   of   
9 

 

           
1   NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

FIFTH THIRD BANK — a Michigan Banking Corporation                 31-0892650
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
  (a)   þ
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  MICHIGAN
     
This report relates to beneficial holdings by Fifth Third Bancorp, through several of its subsidiaries, of outstanding shares of the Common Stock of the Issuer. The following tabulations set forth the shares with respect of which voting rights are held or shared and those shares to which there is dispositive power. The following are held in fiduciary accounts in Fifth Third Bancorp’s subsidiaries and are deemed beneficially owned:
 
       
  5   SOLE VOTING POWER
     
NUMBER OF   406,805 shares
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   1,175 shares
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   12,327 shares
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    20,767 shares
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  420,307
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9)  EXCLUDES CERTAIN SHARES*
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  3.58%
     
12   TYPE OF REPORTING PERSON*
   
  BK

 

                     
Securities and Exchange Commission
 Schedule 13G   
Page 5 of  9 pages
     
 
    
Item 1(a).
  Name of Issuer:
 
    
 
  Flaherty & Crumrine Inc.
 
    
Item 1(b).
  Address of Issuer’s Principal Executive Offices:
 
    
 
  301 E. Colorado Blvd., Ste 720
Pasadena, CA 91101
 
    
Item 2(a).
  Name of Person Filing:
 
    
 
  (1) Fifth Third Bancorp
(2) Fifth Third Bank — an Ohio Banking Corporation
(3) Fifth Third Bank — a Michigan Banking Corporation
 
    
Item 2(b).
  Address of Principal Business Office or, if None, Residence:
 
    
 
  (1) Fifth Third Center, Cincinnati, Ohio 45263
(2) Fifth Third Center, Cincinnati, Ohio 45263
(3) 111 Lyon Street NW, Grand Rapids, Michigan 49503
 
    
Item 2(c).
  Citizenship:
 
    
 
   (1) Ohio
(2) Ohio
(3) Michigan
 
    
Item 2(d).
  Title of Class of Securities:
 
    
 
   Class A Common Stock
 
    
Item 2(e).
  CUSIP Number:
 
    
 
  33848E106

 

 

                     
Securities and Exchange Commission
 Schedule 13G   
Page 6 of  9 pages
     
 
    
Item 3.
  If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
  (a)   o     Broker or dealer registered under Section 15 of the Act;
 
  (b)   o     Bank as defined in Section 3(a)(6) of the Act;
 
  (c)   o     Insurance company as defined in Section 3(a)(19) of the Act;
 
  (d)   o     Investment company registered under Section 8 of the Investment Company Act;
 
  (e)   o     Investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
 
  (f)   o     Employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
 
  (g)   þ     Parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
 
  (h)   o     Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;
 
  (i)   o     Church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;
 
  (j)   o     Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

 

 

                     
Securities and Exchange Commission
 Schedule 13G   
Page 7 of  9 pages
     
Item 4.
  Ownership
 
    
 
  This report relates to beneficial holdings by Fifth Third Bancorp, through several of its subsidiaries, of outstanding shares of the Common Stock of the Issuer. The following tabulations set forth the shares with respect of which voting rights are held or shared and those shares to which there is dispositive power. The following are held in fiduciary accounts in Fifth Third Bancorp’s subsidiaries and are deemed beneficially owned:
  (a)   Amount Beneficially Owned:
 
      596,391 shares
 
  (b)   Percent of Class:
 
      5.21%
 
  (c)   Number of shares as to which such person has:
  (i)   Sole power to vote or to direct the vote
 
      596,391 shares
 
  (ii)   Shared power to vote or to direct the vote
 
      1,175 shares
 
  (iii)   Sole power to dispose or to direct the disposition of
 
      590,196 shares
 
  (iv)   Shared power to dispose or to direct the disposition of
 
      2,767 shares
     
Item 5.
  Ownership of Five Percent or Less of a Class
 
    
 
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.
 
    
Item 6.
  Ownership of More than Five Percent on Behalf of Another Person
 
    
 
  The securities covered by this Schedule are held in trust, agency or custodial capacities by Fifth Third Bank. These trust, agency or custodial accounts receive the dividends from, or the proceeds from the sale of, such securities.

 

 

                     
Securities and Exchange Commission
 Schedule 13G   
Page 8 of  9 pages
     
 
    
Item 7.
  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
 
    
 
  Fifth Third Bancorp, as parent holding company of the subsidiaries listed below, has filed this schedule. The subsidiaries are filing in accordance with Rule 13d-1(b)(1)(ii)(G).
       
 
Subsidiary
  Item 3 Classification
 
    
 
Fifth Third Bank — an Ohio Banking Corporation
  Bank
 
Fifth Third Bank — a Michigan Banking Corporation
  Bank
     
 
    
Item 8.
  Identification and Classification of Members of the Group
 
    
 
  Not Applicable
 
    
Item 9.
  Notice of Dissolution of Group
 
    
 
  Not Applicable

 

 

                     
Securities and Exchange Commission
 Schedule 13G   
Page 9 of  9 pages
     
 
    
Item 10.
  Certifications
 
    
 
  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct
         
Fifth Third Bancorp

 		    
/s/ Charles Drucker    February 14, 2008  
Executive Vice President    Today’s Date