Also Earned Distinction as a Top Workplace in Charlotte, NC PITTSBURGH, Oct. 30, 2025 /PRNewswire/ --Â First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), recently solidified its reputation for providing an exceptional employee experience with three additional Top Workplaces National Culture Excellence honors and a regional Top Workplaces award for Charlotte, NC. Using employee feedback collected independently by Energage, a nationally recognized third-party research firm, the Top ...

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Core Insights - F.N.B. Corporation's CEO, Vincent J. Delie, Jr., has been awarded CEO of the Year – USA by The Digital Banker for his leadership and innovation in the U.S. banking industry [1][2] - Delie's leadership has significantly impacted FNB's growth, digital transformation, and customer experience, positioning the bank as a technology-driven institution [3][4] Company Overview - F.N.B. Corporation is headquartered in Pittsburgh, Pennsylvania, and operates in seven states and Washington, D.C., with total assets of $50 billion and approximately 350 banking offices [6] - The company provides a comprehensive range of financial services, including commercial banking, consumer banking, and wealth management solutions [7] Digital Innovation - Under Delie's leadership, FNB has implemented a Clicks-to-Bricks strategy and developed the award-winning eStore® digital platform, enhancing customer access to financial services [3][4] - The eStore Common application allows clients to apply for multiple banking products through a single digital application, improving onboarding and personalizing customer interactions [3] Recognition and Awards - Delie has received multiple accolades, including being named CEO of the Year by The CEO Magazine and one of the top 50 CEOs in the U.S. by Brand Finance, reflecting his influence in the banking sector [4] - FNB has been recognized for its strong financial performance and innovative technology use, earning titles such as one of the World's Best Companies by TIME and one of America's Best and Most Trusted Companies by Forbes [4]

Core Insights - F.N.B. Corporation (FNB) reported a 1.6% increase in shares during after-hours trading following the release of its Q3 2025 results, with adjusted earnings of 41 cents per share exceeding the Zacks Consensus Estimate of 37 cents and up from 34 cents in the prior-year quarter [1][10] Financial Performance - The quarterly net revenues reached $457.4 million, reflecting a 10.8% increase year-over-year and surpassing the Zacks Consensus Estimate of $443.1 million [3] - Net interest income (NII) was reported at $359.3 million, an 11.1% increase from the previous year, driven by growth in earning assets and lower interest-bearing deposit costs, with a net interest margin (NIM) of 3.25%, up 17 basis points year-over-year [4] - Non-interest income totaled $98.2 million, a 9.5% increase, with growth across most components except for service charges and insurance commissions [5] - Non-interest expenses decreased by 2.4% year-over-year to $243.5 million, although adjusted expenses rose by 5.1% when excluding one-time costs [5] Loan and Deposit Growth - At the end of Q3, net loans and leases stood at $34.5 billion, showing a slight sequential increase, while total deposits were $38.4 billion, up 1.8% [6] Credit Quality - The provision for credit losses was $24 million, a 2.4% increase from the prior-year quarter, while the ratio of non-performing loans and other real estate owned (OREO) decreased to 0.37% [7] Capital and Profitability Ratios - As of September 30, 2025, the Tier I leverage ratio improved to 8.92% from 8.64% year-over-year, and the common equity Tier 1 (CET1) ratio increased to 11% from 10.4% [8] - Return on total average assets rose to 1.20% from 0.92% in the prior-year period, and return on average equity improved to 9.02% from 7.10% [9] Share Repurchase Activity - During the reported quarter, F.N.B. Corp repurchased 0.8 million shares at an average price of $15.50 [11] Future Outlook - The company is expected to benefit from its solid liquidity position, efforts to increase fee income, diverse revenue streams, and expansion in high-growth markets, although rising expenses and significant commercial loan exposures present challenges [12]

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Financial Data and Key Metrics Changes - The company's earnings per share grew 14% to a record $0.41, with net income available to common shareholders increasing to $150 million [4] - Operating pre-provision net revenue increased 18% year-over-year, contributing to a peer-leading efficiency ratio of 52% [4] - Total revenue reached a record $457 million, with non-interest income hitting a record $98.2 million [4][18] - The return on average tangible common equity was 15%, and tangible book value per share grew 11% to $11.48 [5][21] Business Line Data and Key Metrics Changes - Period-end loans increased 3% on an annualized linked quarter basis, driven by equipment finance, consumer lending, and seasonal residential mortgage production [5] - Equipment finance saw a strong quarter with 21% annualized loan growth, while commercial and industrial loans grew 2% [5][11] - Non-interest income from capital markets grew 27%, with wealth management revenues increasing 8% year-over-year [19][21] Market Data and Key Metrics Changes - The company experienced annualized linked quarter deposit growth of 7%, outpacing the industry [6] - Non-interest-bearing deposits comprised 26% of total deposits, stable from the prior quarter, with total deposit costs at 1.93% [7] - The company ranked in the top five in nearly 50% of its markets and in the top three in nearly 30% [6][37] Company Strategy and Development Direction - The company plans to add 30 new branches by 2030, focusing on high-growth markets in the Carolinas and Mid-Atlantic [24] - The strategy emphasizes growing low-cost deposits and reducing commercial real estate concentration [6] - The company is leveraging AI and data analytics to enhance customer engagement and operational efficiency [9][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth driven by fiscal policies and a more robust business environment [14] - The company remains focused on core commercial and industrial lending, with a disciplined approach to credit risk management [11][82] - Management highlighted the importance of maintaining a strong capital position to support balance sheet growth and optimize shareholder returns [21][45] Other Important Information - The company has a CET1 ratio of 11% and a TCE ratio of 8.7%, both record levels [21] - The company is actively managing its capital position and remains opportunistic regarding share buybacks [23][45] Q&A Session Summary Question: Concerns about refinancing risk in the mortgage book - Management indicated that they have strategically shifted pricing in the conforming space and are not overly concerned about prepayment speeds impacting margins [29][30] Question: Insights on deposit growth and market performance - Management noted strong deposit growth across various markets, particularly in the Carolinas, driven by competitive technology offerings and effective execution [32][34] Question: Future capital management strategy - Management confirmed a focus on optimizing shareholder value through disciplined capital management, including potential buybacks and dividend discussions [42][45] Question: Updates on fee income growth opportunities - Management highlighted recent investments in investment banking and treasury management as key areas for future fee income growth, with expectations for continued expansion [84][88]

Financial Data and Key Metrics Changes - FMB's third quarter earnings per share increased by 14% linked quarter to a record $0.41, with net income available to common shareholders rising to $150 million [4] - Operating pre-provision net revenue grew 18% year-over-year, contributing to a peer-leading efficiency ratio of 52% [4][15] - Total revenue reached a record $457 million, with non-interest income hitting a record $98.2 million [4][15] - Return on average tangible common equity was 15%, and tangible book value per share grew 11% to $11.48 [5][21] Business Line Data and Key Metrics Changes - Period-end loans increased by 3% on an annualized linked quarter basis, driven by equipment finance, consumer lending, and seasonal residential mortgage production [5] - Commercial and industrial loans grew by 2% annualized linked quarter, affected by lower line utilization and higher attrition due to customer M&A activity [5] - Equipment finance saw a strong annualized loan growth of 21%, reflecting activity across the company's footprint [5] Market Data and Key Metrics Changes - Annualized linked quarter deposit growth was 7%, outpacing the industry, with non-interest bearing deposits comprising 26% of total deposits [6][7] - The loan-to-deposit ratio ended the quarter at 90.9%, with the company's CRE concentration improving to 214% [6] - FNB ranked in the top five in nearly 50% of its MSAs and in the top three in nearly 30% [7] Company Strategy and Development Direction - The company is focused on growing low-cost deposits and reducing CRE concentration, with a strategy to price deposits competitively while protecting net interest margins [6][9] - FNB plans to expand its branch network by adding 30 new branches, primarily in high-growth markets [25] - The company is leveraging AI and data analytics to enhance customer engagement and operational efficiency [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth driven by fiscal policies and a potentially more robust business environment [14] - The company remains committed to strong risk management frameworks while exploring AI's transformative potential [10] - Management noted that they have not seen material impacts on the loan portfolio from tariffs or the government shutdown, maintaining a stable credit quality [12][80] Other Important Information - The CET1 ratio reached a record 11%, and tangible common equity ratio was at 8.7% [21] - The company is actively managing its capital position to support balance sheet growth and optimize shareholder returns [21] - The efficiency ratio improved to 52.4%, with expectations for continued strength in operating leverage performance [20] Q&A Session Summary Question: Concerns about loan growth and refinancing risks - Management indicated that they have strategically shifted pricing in the mortgage book and are not overly concerned about prepayment speeds impacting margins, as they can redeploy capital effectively [30][34] Question: Insights on deposit growth and market share - Management highlighted strong deposit growth across various markets, particularly in the Carolinas, driven by technology and competitive pricing strategies [40][42] Question: Capital management strategy with a strong CET1 ratio - Management confirmed a focus on internal execution and opportunistic buybacks, while maintaining a flexible dividend strategy [56][58] Question: Expectations for Investor Day - Management emphasized showcasing technological advancements and team depth at the upcoming Investor Day, aiming to energize investors [60][62] Question: Efficiency ratio and expense management - Management confirmed ongoing efforts to optimize expenses and improve the efficiency ratio, with a focus on leveraging technology and operational improvements [70][74]

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F.N.B. Corporation Earnings Presentation Third Quarter 2025 October 17, 2025 Cautionary Statement Regarding Forward-Looking Information This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that do not relate to historical facts and that are based on current assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond our control ...

[Executive Summary & Third Quarter 2025 Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Third%20Quarter%202025%20Highlights) F.N.B. Corporation reported strong third-quarter 2025 earnings with record diluted EPS and revenue, driven by growth in net interest income and non-interest income, alongside improved capital levels and stable asset quality [Overall Financial Performance](index=1&type=section&id=Overall%20Financial%20Performance) F.N.B. Corporation reported strong third-quarter 2025 earnings, achieving record diluted EPS and revenue, driven by growth in net interest income, margin expansion, and non-interest income. The company also strengthened its capital levels and maintained solid asset quality | Metric | 3Q25 (GAAP) | 3Q24 (GAAP) | YoY Change | 3Q25 (Operating non-GAAP) | 3Q24 (Operating non-GAAP) | YoY Change (Operating) | | :----------------------------------- | :---------- | :---------- | :--------- | :------------------------ | :------------------------ | :----------------------- | | Net Income Available to Common Shareholders | $149.5 million | $110.1 million | +35.8% | $147.7 million | $122.2 million | +20.9% | | Earnings per Diluted Common Share | $0.41 | $0.30 | +36.7% | $0.41 | $0.34 | +20.6% | | Revenue | $457 million | N/A | N/A | N/A | N/A | N/A | | Tangible Book Value Per Common Share (non-GAAP) | $11.48 | $10.33 | +11.1% | N/A | N/A | N/A | - Pre-provision net revenue (non-GAAP) grew **11% linked-quarter**, contributing to positive operating leverage and a peer-leading efficiency ratio (non-GAAP) of **52%**[4](index=4&type=chunk) - Capital levels reached all-time highs with an estimated CET1 regulatory capital ratio of **11%** and a return on tangible common equity ratio (non-GAAP) of **15%**[4](index=4&type=chunk) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) The third quarter saw significant growth in average loans and deposits, record net interest income and non-interest income, and improved capital ratios, while maintaining stable asset quality | Metric | 3Q25 | 2Q25 | 3Q24 | YoY Change (3Q25 vs 3Q24) | QoQ Change (3Q25 vs 2Q25) | | :----------------------------------- | :----- | :----- | :----- | :------------------------ | :------------------------ | | Average Loans and Leases | $34.8 billion | N/A | $33.8 billion | +3.0% | +3.6% annualized | | Average Deposits | $37.9 billion | N/A | $35.6 billion | +6.4% | +8.2% annualized | | Loan-to-Deposit Ratio | 91% | 92% | 92% | -1 pp | -1 pp | | Net Interest Income | $359.3 million | $347.2 million | $323.3 million | +11.1% | +3.5% | | Net Interest Margin (FTE, non-GAAP) | 3.25% | 3.19% | 3.08% | +17 bps | +6 bps | | Non-Interest Income | $98.2 million | $91.0 million | $89.7 million | +9.5% | +7.9% | | Pre-provision Net Revenue (non-GAAP) | $213.9 million | $192.0 million | $163.6 million | +30.7% | +11.4% | | Provision for Credit Losses | $24.0 million | $25.6 million | $23.4 million | +2.6% | -6.3% | | CET1 Regulatory Capital Ratio (estimated) | 11.0% | 10.8% | 10.4% | +60 bps | +20 bps | | Tangible Common Equity to Tangible Assets (non-GAAP) | 8.7% | 8.5% | 8.2% | +50 bps | +20 bps | | Tangible Book Value per Common Share (non-GAAP) | $11.48 | $11.14 | $10.33 | +11.1% | +3.1% | | Common Stock Repurchased | $12 million (0.8M shares) | N/A | N/A | N/A | N/A | - Asset quality metrics remained solid, with the allowance for credit losses (ACL) to total loans and leases stable at **1.25%**[7](index=7&type=chunk) [Financial Performance Analysis - Comparison to Prior-Year Quarter (3Q24)](index=3&type=section&id=Financial%20Performance%20Analysis%20-%20Comparison%20to%20Prior-Year%20Quarter%20(3Q24)) This section details F.N.B. Corporation's year-over-year financial performance, highlighting growth in net interest income, loans, and deposits, alongside changes in expenses, credit quality, and capital ratios [Net Interest Income and Margin](index=3&type=section&id=Net%20Interest%20Income%20and%20Margin_YoY) Net interest income increased significantly year-over-year, driven by earning asset growth and lower interest-bearing deposit costs, despite a decrease in earning asset yields | Metric | 3Q25 | 3Q24 | YoY Change | | :-------------------------------- | :----- | :----- | :--------- | | Net Interest Income | $359.3 million | $323.3 million | +11.1% | | Net Interest Margin (FTE, non-GAAP) | 3.25% | 3.08% | +17 bps | | Yield on Earning Assets (non-GAAP) | 5.36% | 5.51% | -15 bps | | Yields on Loans | 5.79% | 6.03% | -24 bps | | Yields on Investment Securities | 3.58% | 3.13% | +45 bps | | Total Cost of Funds | 2.23% | 2.56% | -33 bps | | Interest-Bearing Deposit Costs | 2.66% | 3.08% | -42 bps | [Loan and Deposit Growth](index=3&type=section&id=Loan%20and%20Deposit%20Growth_YoY) Average loans and leases grew, primarily from consumer loans, while average deposits also increased, with a slight shift in funding mix towards interest-bearing products | Metric | 3Q25 | 3Q24 | YoY Change | | :-------------------------------- | :----- | :----- | :--------- | | Average Loans and Leases | $34.8 billion | $33.8 billion | +3.0% | | - Consumer Loans | +$994.7 million | N/A | N/A | | - Residential Mortgage Loans | +$1.1 billion | N/A | N/A | | - Commercial Leases | +$100.9 million | N/A | +14.7% | | - Indirect Auto Loans | -$222.3 million | N/A | N/A | | Average Deposits | $37.9 billion | $35.6 billion | +6.4% | | - Interest-Bearing Demand Deposits | +$2.1 billion | N/A | N/A | | - Time Deposits | +$261.3 million | N/A | N/A | | - Non-Interest-Bearing Demand Deposits | +$38.2 million | N/A | N/A | | - Savings Deposits | -$155.9 million | N/A | N/A | | Non-Interest-Bearing Demand Deposits as % of Total Deposits | 26% | 27% | -1 pp | | Loan-to-Deposit Ratio | 91% | 92% | -1 pp | [Non-Interest Income](index=3&type=section&id=Non-Interest%20Income_YoY) Non-interest income reached a record high, driven by strong performance in mortgage banking, capital markets, wealth management, and a significant recovery in other non-interest income | Metric | 3Q25 | 3Q24 | YoY Change | | :-------------------------------- | :----- | :----- | :--------- | | Total Non-Interest Income | $98.2 million | $89.7 million | +9.5% | | Mortgage Banking Operations Income | +$3.6 million | N/A | +65.8% | | Capital Markets Income | +$1.7 million | N/A | +27.1% | | Wealth Management Revenues | +$1.5 million | N/A | +8.0% | | Other Non-Interest Income | +$5.3 million | N/A | +135.6% | [Non-Interest Expense](index=4&type=section&id=Non-Interest%20Expense_YoY) Total non-interest expense decreased, but operating non-interest expense increased due to strategic hiring, risk management investments, and higher production-related compensation | Metric | 3Q25 | 3Q24 | YoY Change | | :-------------------------------- | :----- | :----- | :--------- | | Total Non-Interest Expense | $243.5 million | $249.4 million | -2.4% | | Operating Non-Interest Expense (non-GAAP) | N/A | N/A | +5.0% | | Salaries and Employee Benefits | N/A | N/A | +4.4% | | Outside Services | N/A | N/A | +6.8% | | Other Non-Interest Expense (operating basis) | N/A | N/A | +17.4% | [Credit Quality and Provision for Credit Losses](index=4&type=section&id=Credit%20Quality%20and%20Provision%20for%20Credit%20Losses_YoY) The provision for credit losses slightly increased, while net charge-offs decreased, reflecting proactive loan portfolio management. Asset quality metrics remained solid, with a stable ACL ratio | Metric | 3Q25 | 3Q24 | YoY Change | | :-------------------------------- | :----- | :----- | :--------- | | Provision for Credit Losses | $24.0 million | $23.4 million | +2.6% | | Net Charge-Offs | $19.7 million | $21.5 million | -8.4% | | Net Charge-Offs (annualized % of total average loans) | 0.22% | 0.25% | -3 bps | | Allowance for Credit Losses (ACL) | $437.3 million | $420.2 million | +4.1% | | ACL to Total Loans and Leases | 1.25% | 1.25% | Stable | | Non-Performing Loans and OREO to Total Loans and OREO | 0.37% | 0.39% | -2 bps | | Total Delinquency | 0.65% | 0.79% | -14 bps | [Capital and Shareholder Value](index=4&type=section&id=Capital%20and%20Shareholder%20Value_YoY) Capital ratios improved significantly year-over-year, with a notable increase in the CET1 ratio and tangible book value per common share, despite the impact of AOCI | Metric | 3Q25 | 3Q24 | YoY Change | | :-------------------------------- | :----- | :----- | :--------- | | Effective Tax Rate | 21.3% | 21.4% | -0.1 pp | | CET1 Regulatory Capital Ratio (estimated) | 11.0% | 10.4% | +60 bps | | Tangible Book Value per Common Share (non-GAAP) | $11.48 | $10.33 | +11.1% | | AOCI Reduction to TBV per Share (non-GAAP) | $0.22 | $0.43 | -$0.21 | [Financial Performance Analysis - Comparison to Prior Quarter (2Q25)](index=4&type=section&id=Financial%20Performance%20Analysis%20-%20Comparison%20to%20Prior%20Quarter%20(2Q25)) This section analyzes F.N.B. Corporation's quarter-over-quarter financial performance, focusing on trends in net interest income, loan and deposit growth, non-interest items, credit quality, and capital [Net Interest Income and Margin](index=4&type=section&id=Net%20Interest%20Income%20and%20Margin_QoQ) Net interest income and margin both increased linked-quarter, driven by earning asset growth, lower cost of funds, and the impact of an additional day in the quarter | Metric | 3Q25 | 2Q25 | QoQ Change | | :-------------------------------- | :----- | :----- | :--------- | | Net Interest Income | $359.3 million | $347.2 million | +3.5% | | Net Interest Margin (FTE, non-GAAP) | 3.25% | 3.19% | +6 bps | | Total Yield on Earning Assets (non-GAAP) | 5.36% | 5.33% | +3 bps | | Total Cost of Funds | 2.23% | 2.26% | -3 bps | | Cost of Interest-Bearing Deposits | 2.66% | 2.66% | Stable | | Total Borrowing Costs | 4.65% | 4.71% | -6 bps | [Loan and Deposit Trends](index=4&type=section&id=Loan%20and%20Deposit%20Trends_QoQ) Average loans and leases increased, primarily due to consumer loan growth, while average deposits also saw organic growth across all categories, leading to an improved loan-to-deposit ratio | Metric | 3Q25 | 2Q25 | QoQ Change | | :-------------------------------- | :----- | :----- | :--------- | | Average Loans and Leases | $34.8 billion | $34.5 billion | +0.9% (+3.6% annualized) | | - Average Consumer Loans | +$431.2 million | N/A | +13.0% annualized | | - Average Residential Mortgages | +$384.4 million | N/A | N/A | | - Average Commercial Loans and Leases | -$119.4 million | N/A | -2.2% annualized | | Average Deposits | $37.9 billion | $37.1 billion | +$766.5 million | | - Interest-Bearing Demand Deposits | +$375.2 million | N/A | N/A | | - Time Deposits | +$254.2 million | N/A | N/A | | - Non-Interest-Bearing Deposits | +$92.7 million | N/A | N/A | | - Savings Deposit Balances | +$44.4 million | N/A | N/A | | Non-Interest-Bearing Demand Deposits as % of Total Deposits | 26% | 26% | Stable | | Loan-to-Deposit Ratio | 91% | 92% | -1 pp | [Non-Interest Income](index=5&type=section&id=Non-Interest%20Income_QoQ) Non-interest income reached a new record, driven by strong increases in mortgage banking operations, capital markets income, and a significant recovery in other non-interest income | Metric | 3Q25 | 2Q25 | QoQ Change | | :-------------------------------- | :----- | :----- | :--------- | | Total Non-Interest Income | $98.2 million | $91.0 million | +7.9% | | Mortgage Banking Operations Income | +$2.9 million | N/A | +45.6% | | Capital Markets Income | +$1.0 million | N/A | +14.2% | | Other Non-Interest Income | +$3.2 million | N/A | +53.3% | [Non-Interest Expense](index=5&type=section&id=Non-Interest%20Expense_QoQ) Total non-interest expense decreased, and operating non-interest expense saw a slight decrease, contributing to an improved efficiency ratio | Metric | 3Q25 | 2Q25 | QoQ Change | | :-------------------------------- | :----- | :----- | :--------- | | Total Non-Interest Expense | $243.5 million | $246.2 million | -1.1% | | Operating Non-Interest Expense (non-GAAP) | N/A | N/A | -0.2% | | Salaries and Employee Benefits | N/A | N/A | +1.3% | | Net Occupancy and Equipment | N/A | N/A | -5.2% | | Efficiency Ratio (non-GAAP) | 52.4% | 54.8% | -2.4 pp | [Credit Quality and Provision for Credit Losses](index=5&type=section&id=Credit%20Quality%20and%20Provision%20for%20Credit%20Losses_QoQ) The provision for credit losses decreased, and net charge-offs also declined, reflecting continued proactive management. While non-performing loans and delinquency slightly increased, overall asset quality remained solid | Metric | 3Q25 | 2Q25 | QoQ Change | | :-------------------------------- | :----- | :----- | :--------- | | Provision for Credit Losses | $24.0 million | $25.6 million | -6.3% | | Net Charge-Offs | $19.7 million | $21.8 million | -9.6% | | Net Charge-Offs (annualized % of total average loans) | 0.22% | 0.25% | -3 bps | | Allowance for Credit Losses (ACL) | $437.3 million | $432.1 million | +1.2% | | ACL to Total Loans and Leases | 1.25% | 1.25% | Stable | | Non-Performing Loans and OREO to Total Loans and OREO | 0.37% | 0.34% | +3 bps | | Total Delinquency | 0.65% | 0.62% | +3 bps | [Capital and Shareholder Value](index=5&type=section&id=Capital%20and%20Shareholder%20Value_QoQ) Capital ratios continued to improve linked-quarter, with increases in the CET1 ratio and tangible book value per common share, despite a minor reduction from AOCI | Metric | 3Q25 | 2Q25 | QoQ Change | | :-------------------------------- | :----- | :----- | :--------- | | Effective Tax Rate | 21.3% | 21.5% | -0.2 pp | | CET1 Regulatory Capital Ratio (estimated) | 11.0% | 10.8% | +20 bps | | Tangible Book Value per Common Share (non-GAAP) | $11.48 | $11.14 | +$0.34 | | AOCI Reduction to TBV per Share (non-GAAP) | $0.22 | $0.26 | -$0.04 | [Consolidated Financial Statements](index=9&type=section&id=Consolidated%20Financial%20Statements) This section presents F.N.B. Corporation's consolidated financial statements, including income, balance sheets, average balances, key performance and capital ratios, and detailed loan portfolio and asset quality data [Consolidated Statements of Income](index=9&type=section&id=Consolidated%20Statements%20of%20Income) The consolidated statements of income show a significant increase in net interest income and total non-interest income for both the quarter and year-to-date periods, leading to higher net income available to common shareholders | Metric (in thousands) | 3Q25 | 2Q25 | 3Q24 | 9M25 | 9M24 | | :-------------------------------- | :----- | :----- | :----- | :----- | :----- | | Total Interest Income | $595,972 | $582,641 | $582,772 | $1,738,050 | $1,683,457 | | Total Interest Expense | $236,700 | $235,445 | $259,443 | $707,737 | $725,230 | | Net Interest Income | $359,272 | $347,196 | $323,329 | $1,030,313 | $958,227 | | Provision for Credit Losses | $23,991 | $25,601 | $23,438 | $67,081 | $57,517 | | Total Non-Interest Income | $98,170 | $91,015 | $89,688 | $276,951 | $265,472 | | Total Non-Interest Expense | $243,535 | $246,225 | $249,431 | $736,571 | $713,139 | | Income Before Income Taxes | $189,916 | $166,385 | $140,148 | $503,612 | $453,043 | | Net Income Available to Common Shareholders | $149,509 | $130,670 | $110,103 | $396,694 | $349,466 | | Earnings per Diluted Common Share | $0.41 | $0.36 | $0.30 | $1.09 | $0.96 | [Consolidated Balance Sheets](index=10&type=section&id=Consolidated%20Balance%20Sheets) The consolidated balance sheet shows growth in total assets, primarily driven by increases in loans and leases and interest-bearing deposits with banks. Total deposits also increased, while long-term borrowings decreased | Metric (in millions) | 3Q25 | 2Q25 | 3Q24 | QoQ Change | YoY Change | | :-------------------------------- | :----- | :----- | :----- | :--------- | :--------- | | Total Assets | $49,889 | $49,725 | $47,976 | +0.3% | +4.0% | | Cash and Cash Equivalents | $2,413 | $2,427 | $2,078 | -0.6% | +16.1% | | Loans and Leases, net | $34,520 | $34,247 | $33,297 | +0.8% | +3.7% | | Total Deposits | $38,441 | $37,748 | $36,771 | +1.8% | +4.5% | | - Non-Interest-Bearing Demand | $9,969 | $9,872 | $9,870 | +1.0% | +1.0% | | - Interest-Bearing Demand | $17,803 | $17,292 | $15,999 | +3.0% | +11.3% | | Short-term Borrowings | $1,905 | $1,876 | $1,562 | +1.5% | +22.0% | | Long-term Borrowings | $2,099 | $2,692 | $2,515 | -22.0% | -16.5% | | Total Liabilities | $43,253 | $43,201 | $41,727 | +0.1% | +3.7% | | Total Shareholders' Equity | $6,636 | $6,524 | $6,249 | +1.7% | +6.2% | [Average Balances and Interest Rates](index=11&type=section&id=Average%20Balances%20and%20Interest%20Rates) Average interest-earning assets and total deposits and borrowings increased, with a notable improvement in net interest margin and spread for both the quarter and year-to-date periods | Metric (in thousands) | 3Q25 | 2Q25 | 3Q24 | 9M25 | 9M24 | | :-------------------------------- | :----- | :----- | :----- | :----- | :----- | | Average Total Interest Earning Assets | $44,479,767 | $44,043,377 | $42,307,326 | $43,992,566 | $41,464,410 | | Yield on Earning Assets (FTE) | 5.36% | 5.33% | 5.51% | 5.31% | 5.45% | | Average Total Deposits and Borrowings | $42,085,678 | $41,742,880 | $40,259,839 | $41,670,033 | $39,442,596 | | Cost of Funds | 2.23% | 2.26% | 2.56% | 2.27% | 2.46% | | Net Interest Income (FTE) | $362,421 | $350,269 | $326,259 | $1,039,472 | $966,982 | | Net Interest Spread | 2.44% | 2.37% | 2.12% | 2.34% | 2.17% | | Net Interest Margin (FTE) | 3.25% | 3.19% | 3.08% | 3.16% | 3.11% | [Performance and Capital Ratios](index=13&type=section&id=Performance%20and%20Capital%20Ratios) Key performance ratios, including return on average equity and tangible equity, showed improvement, alongside stronger capital ratios like CET1 and tangible common equity to tangible assets | Metric | 3Q25 | 2Q25 | 3Q24 | 9M25 | 9M24 | | :-------------------------------- | :----- | :----- | :----- | :----- | :----- | | Return on average equity | 9.02% | 8.09% | 7.10% | 8.19% | 7.81% | | Return on average tangible common equity (non-GAAP) | 14.94% | 13.57% | 12.43% | 13.74% | 13.63% | | Return on average assets | 1.20% | 1.07% | 0.92% | 1.08% | 1.02% | | Efficiency ratio (non-GAAP) | 52.38% | 54.83% | 55.16% | 55.13% | 55.18% | | Common equity tier 1 (estimated) | 11.0% | 10.8% | 10.4% | N/A | N/A | | Tangible common equity / tangible assets (non-GAAP) | 8.69% | 8.47% | 8.17% | N/A | N/A | | Book value per common share | $18.52 | $18.17 | $17.38 | N/A | N/A | | Tangible book value per common share (non-GAAP) | $11.48 | $11.14 | $10.33 | N/A | N/A | | Dividend payout ratio (common) | 29.05% | 33.34% | 39.58% | 33.02% | 37.51% | [Loan and Lease Portfolio Details](index=14&type=section&id=Loan%20and%20Lease%20Portfolio%20Details) The loan and lease portfolio showed overall growth, driven by consumer loans, particularly residential mortgages, while commercial real estate saw a slight decrease | Loan Type (in millions) | 3Q25 (Period End) | 2Q25 (Period End) | 3Q24 (Period End) | QoQ Change | YoY Change | | :-------------------------------- | :---------------- | :---------------- | :---------------- | :--------- | :--------- | | Total Loans and Leases | $34,957 | $34,679 | $33,717 | +0.8% | +3.7% | | Commercial Loans and Leases | $21,140 | $21,198 | $21,182 | -0.3% | -0.2% | | - Commercial Real Estate | $12,568 | $12,686 | $12,812 | -0.9% | -1.9% | | - Commercial Leases | $829 | $774 | $709 | +7.1% | +16.9% | | Consumer Loans | $13,817 | $13,481 | $12,535 | +2.5% | +10.2% | | - Residential Mortgages | $8,888 | $8,595 | $7,789 | +3.4% | +14.1% | | - Indirect Installment | $767 | $780 | $706 | -1.7% | +8.6% | | Loan Type (in millions) | 3Q25 (Average) | 2Q25 (Average) | 3Q24 (Average) | QoQ Change | YoY Change | | :-------------------------------- | :------------- | :------------- | :------------- | :--------- | :--------- | | Total Loans and Leases | $34,814 | $34,502 | $33,803 | +0.9% | +3.0% | | Commercial Loans and Leases | $21,174 | $21,294 | $21,158 | -0.6% | +0.1% | | Consumer Loans | $13,640 | $13,209 | $12,645 | +3.3% | +7.9% | [Asset Quality Data](index=15&type=section&id=Asset%20Quality%20Data) Asset quality metrics remained solid, with non-performing assets and delinquency ratios showing minor fluctuations but overall stability | Metric (in millions) | 3Q25 | 2Q25 | 3Q24 | QoQ Change | YoY Change | | :-------------------------------- | :----- | :----- | :----- | :--------- | :--------- | | Non-Performing Assets | $128 | $119 | $131 | +7.6% | -2.3% | | Non-performing loans / total loans and leases | 0.36% | 0.34% | 0.38% | +2 bps | -2 bps | | Non-performing loans plus OREO / total loans and leases plus OREO | 0.37% | 0.34% | 0.39% | +3 bps | -2 bps | | Past due and non-accrual loans | $227 | $216 | $265 | +5.1% | -14.3% | | Past due and non-accrual loans / total loans and leases | 0.65% | 0.62% | 0.79% | +3 bps | -14 bps | [Allowance for Credit Losses Rollforward](index=16&type=section&id=Allowance%20for%20Credit%20Losses%20Rollforward) The Allowance for Credit Losses (ACL) on loans and leases increased, reflecting overall loan growth, while the ratio of ACL to total loans remained stable. Net loan charge-offs decreased quarter-over-quarter | Metric (in millions) | 3Q25 | 2Q25 | 3Q24 | QoQ Change | YoY Change | | :-------------------------------- | :----- | :----- | :----- | :--------- | :--------- | | ACL on Loans and Leases (End of Period) | $437.3 | $432.1 | $420.2 | +1.2% | +4.1% | | Provision for Credit Losses | $24.9 | $25.0 | $22.9 | -0.3% | +8.9% | | Net Loan (Charge-offs) / Recoveries | ($19.7) | ($21.8) | ($21.5) | -9.6% | -8.2% | | ACL on Loans and Leases / Total Loans and Leases | 1.25% | 1.25% | 1.25% | Stable | Stable | | ACL on Loans and Leases / Total Non-Performing Loans | 349.9% | 370.7% | 326.7% | -20.8 pp | +23.2 pp | | Net Loan Charge-offs (annualized) / Total Average Loans and Leases | 0.22% | 0.25% | 0.25% | -3 bps | -3 bps | [Non-GAAP Financial Measures Reconciliation](index=17&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) This section provides reconciliations of F.N.B. Corporation's non-GAAP financial measures to their most directly comparable GAAP equivalents, offering insights into operating performance and tangible metrics [Operating Net Income and EPS Reconciliation](index=17&type=section&id=Operating%20Net%20Income%20and%20EPS%20Reconciliation) This section reconciles GAAP net income and EPS to operating (non-GAAP) figures by adjusting for significant items such as FDIC special assessment, software impairment, and loss related to indirect auto loan sales | Metric (in thousands, except per share) | 3Q25 | 2Q25 | 3Q24 | 9M25 | 9M24 | | :--------------------------------------- | :----- | :----- | :----- | :----- | :----- | | Net income available to common shareholders (GAAP) | $149,509 | $130,670 | $110,103 | $396,694 | $349,466 | | Adjustments (after-tax) | ($1,795) | $0 | $12,047 | ($1,795) | $19,056 | | Operating net income available to common shareholders (non-GAAP) | $147,714 | $130,670 | $122,160 | $394,899 | $368,522 | | Earnings per diluted common share (GAAP) | $0.41 | $0.36 | $0.30 | $1.09 | $0.96 | | Adjustments (per share) | ($0.01) | $0.00 | $0.04 | ($0.01) | $0.06 | | Operating earnings per diluted common share (non-GAAP) | $0.41 | $0.36 | $0.34 | $1.09 | $1.02 | [Return on Average Tangible Equity/Common Equity/Assets Reconciliation](index=18&type=section&id=Return%20on%20Average%20Tangible%20Equity%2FCommon%20Equity%2FAssets%20Reconciliation) This section provides reconciliations for various return metrics, adjusting for intangible assets to present tangible returns on equity, common equity, and assets, which are key non-GAAP performance indicators | Metric | 3Q25 | 2Q25 | 3Q24 | 9M25 | 9M24 | | :--------------------------------------- | :----- | :----- | :----- | :----- | :----- | | Return on average tangible equity (non-GAAP) | 14.94% | 13.57% | 12.43% | 13.74% | 13.79% | | Return on average tangible common equity (non-GAAP) | 14.94% | 13.57% | 12.43% | 13.74% | 13.63% | | Return on average tangible assets (non-GAAP) | 1.29% | 1.15% | 1.01% | 1.17% | 1.11% | [Tangible Book Value and Tangible Common Equity to Tangible Assets Reconciliation](index=19&type=section&id=Tangible%20Book%20Value%20and%20Tangible%20Common%20Equity%20to%20Tangible%20Assets%20Reconciliation) This section reconciles GAAP shareholders' equity and total assets to their tangible counterparts by excluding intangible assets, providing tangible book value per common share and the tangible common equity to tangible assets ratio | Metric (in thousands, except per share) | 3Q25 | 2Q25 | 3Q24 | | :--------------------------------------- | :----- | :----- | :----- | | Total shareholders' equity (GAAP) | $6,635,620 | $6,523,791 | $6,248,456 | | Less: Intangible assets | ($2,520,013) | ($2,524,005) | ($2,533,856) | | Tangible common equity (non-GAAP) | $4,115,607 | $3,999,786 | $3,714,600 | | Tangible book value per common share (non-GAAP) | $11.48 | $11.14 | $10.33 | | Total assets (GAAP) | $49,888,522 | $49,724,837 | $47,975,574 | | Less: Intangible assets | ($2,520,013) | ($2,524,005) | ($2,533,856) | | Tangible assets (non-GAAP) | $47,368,509 | $47,200,832 | $45,441,718 | | Tangible common equity to tangible assets (non-GAAP) | 8.69% | 8.47% | 8.17% | [Pre-provision Net Revenue and Efficiency Ratio Reconciliation](index=20&type=section&id=Pre-provision%20Net%20Revenue%20and%20Efficiency%20Ratio%20Reconciliation) This section reconciles reported pre-provision net revenue and the efficiency ratio to their operating (non-GAAP) equivalents by adjusting for specific non-recurring or non-core items | Metric (in thousands) | 3Q25 | 2Q25 | 3Q24 | 9M25 | 9M24 | | :--------------------------------------- | :----- | :----- | :----- | :----- | :----- | | Pre-provision net revenue (reported) (non-GAAP) | $213,907 | $191,986 | $163,586 | $570,693 | $510,560 | | Operating pre-provision net revenue (non-GAAP) | $211,635 | $191,986 | $178,848 | $568,421 | $529,625 | | Efficiency ratio (FTE) (non-GAAP) | 52.38% | 54.83% | 55.16% | 55.13% | 55.18% | [Corporate Information & Disclosures](index=5&type=section&id=Corporate%20Information%20%26%20Disclosures) This section outlines F.N.B. Corporation's use of non-GAAP measures, cautionary statements regarding forward-looking information, conference call details, and a brief overview of the company's operations [Use of Non-GAAP Financial Measures](index=5&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) F.N.B. Corporation uses non-GAAP financial measures to provide investors with a clearer understanding of underlying business performance and trends, emphasizing that these are supplemental and not substitutes for GAAP results. Reconciliations are provided for transparency - Non-GAAP measures like operating net income, operating EPS, tangible book value, and efficiency ratio are used by management to assess core business activities and facilitate peer comparisons[23](index=23&type=chunk)[24](index=24&type=chunk) - Certain items, such as the FDIC special assessment, are excluded from operating results as they are considered significant and outside ordinary banking activities[25](index=25&type=chunk) - Net interest margin and efficiency ratio are calculated on a taxable-equivalent basis for peer comparison, adjusting tax-exempt income to be equivalent to taxable investments[26](index=26&type=chunk) [Cautionary Statement Regarding Forward-Looking Information](index=6&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Information) This section warns investors about forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially. It advises against undue reliance on these statements and refers to detailed risk factors in SEC filings - Forward-looking statements are based on current assumptions and are inherently uncertain, covering financial condition, results of operations, plans, and future performance[27](index=27&type=chunk) - Key risk factors include credit risk, volatility of mortgage banking, changes in interest rates, liquidity, regulatory limits, and economic conditions[28](index=28&type=chunk)[34](index=34&type=chunk) - Investors should consult the company's 2024 Annual Report on Form 10-K and subsequent 2025 Quarterly Reports on Form 10-Q for a comprehensive list of risk factors[29](index=29&type=chunk) [Conference Call Details](index=7&type=section&id=Conference%20Call%20Details) F.N.B. Corporation announced details for its third-quarter 2025 earnings conference call, including webcast access, dial-in information for Q&A, and replay availability - A live listen-only webcast of the conference call will be available on the Corporation's website under the Investor Relations section[32](index=32&type=chunk) - Participants can pre-register for the Q&A portion of the call to receive a conference passcode and unique PIN[33](index=33&type=chunk) - Presentation slides and the earnings release will be available on the website, and a replay of the call will be accessible via the webcast link[35](index=35&type=chunk) [About F.N.B. Corporation](index=8&type=section&id=About%20F.N.B.%20Corporation) F.N.B. Corporation is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, operating across seven states and the District of Columbia, offering a full range of commercial banking, consumer banking, and wealth management solutions - FNB operates in major metropolitan areas including Pittsburgh, Baltimore, Cleveland, Washington D.C., Charlotte, Raleigh, Durham, and Charleston[36](index=36&type=chunk) - The company has total assets of **$50 billion** and approximately **350 banking offices**[36](index=36&type=chunk) - Services include corporate banking, small business banking, investment real estate financing, deposit products, mortgage lending, consumer lending, asset management, private banking, and insurance[37](index=37&type=chunk)