Core Viewpoint - The analysis indicates that F.N.B. Corp (FNB) has maintained a stable performance, suggesting that successful business models do not require frequent updates [1] Company Summary - F.N.B. Corp has not experienced significant changes recently, which is viewed positively as it reflects stability in its operations [1]

Core Viewpoint - F.N.B. Corporation (FNB) has shown strong performance with an 11% increase in shares over the past year, and recent Q4 results have led to a further 3% rise in share price [1] Financial Performance - The company reported strong Q4 results, contributing to the positive movement in share price [1] - F.N.B. Corporation maintains an excellent capital position, which supports ongoing balance [1]

Core Viewpoint - F.N.B. Corporation (FNB) has shown strong performance with an 11% increase in shares over the past year, and recent Q4 results have led to a further 3% rise in share price [1] Financial Performance - The company reported strong Q4 results, contributing to the positive movement in share price [1] - F.N.B. Corporation maintains an excellent capital position, which supports ongoing balance [1]

Financial Data and Key Metrics Changes - F.N.B. reported fourth quarter operating net income available to common shareholders of $182.50 per diluted common share, with full year 2025 operating performance reflecting revenue of $1.8 billion and operating net income of $577 million, marking a 14% year-over-year growth in operating EPS driven by a 9% growth in net interest income [5][13] - Return on average tangible common equity was 16%, and tangible book value per share increased by 13% to $11.87 from the year-ago quarter [5][20] - Fourth quarter net interest income reached a record $365.4 million, up 1.7% linked quarter and 13.4% year-over-year, with a net interest margin of $328, up 3 basis points linked quarter and 24 basis points year-over-year [16][20] Business Line Data and Key Metrics Changes - Average loans and leases increased by $169 million, or 1.9% annualized, with average consumer loans growing by $223 million, while average commercial loans and leases slightly decreased by $54 million [14][15] - The equipment finance business originated renewable energy financing transactions, contributing to total revenues of nearly $458 million, which grew 12.4% on an operating basis [13][14] - Operating non-interest income was $92.3 million, up 8.8% from the year-ago period, with wealth management revenues growing 15% [17][19] Market Data and Key Metrics Changes - Average deposits totaled $38.6 billion, an increase of $740 million, or 7.7% linked quarter annualized, driven by organic growth in new and existing customer relationships [15][16] - The mix of non-interest-bearing deposits to total deposits remained at 26%, with average non-interest-bearing deposits exceeding $10 billion, up 4.5% linked quarter annualized [15][16] Company Strategy and Development Direction - The company is focused on diversifying revenue streams, optimizing the balance sheet, and deploying capital thoughtfully, with a comprehensive digital strategy that includes early adoption of AI to enhance client acquisition and engagement [6][23] - F.N.B. has introduced innovative solutions such as Payment Switch and Direct Deposit Switch to improve customer experience and deepen relationships [7][8] - The company aims to achieve mid-single-digit growth in loans and deposits for 2026, with expectations for net interest income between $1.495 and $1.535 billion [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver meaningful loan and deposit growth, margin expansion, and further diversification of fee income in 2026 [23][24] - The company noted strong credit quality metrics, with total delinquency at 71 basis points and net charge-offs at 19 basis points, indicating continued strong performance despite economic uncertainties [9][10] - Management highlighted the importance of maintaining a strong capital position, with a CET1 ratio at 11.4%, and the potential for further capital deployment through buybacks and dividends [20][22][24] Other Important Information - The efficiency ratio remained solid at 53.8% for the fourth quarter, with expectations for improvement in 2026 [20] - The company has achieved annual cost savings of $10 million to $20 million since 2019, with expectations for higher levels of cost savings in 2026 through increased automation [8][19] Q&A Session Summary Question: Fee income growth expectations for 2026 - Management highlighted the importance of diversification in fee income, with all-time highs for several fee-based businesses and expectations for continued solid growth in 2026 [30][31] Question: Operating leverage outlook for 2026 - Management discussed the potential for meaningful increases in operating leverage, with expenses expected to grow in low single digits while investing in new initiatives [38][39] Question: Loan growth outlook for 2026 - Management indicated that C&I and CRE are expected to be the loan growth leaders, with strong production in the fourth quarter and a favorable loan-to-deposit ratio providing capacity for growth [47][49] Question: Capital management and dividend considerations - Management noted that while capital generation is strong, discussions regarding dividend increases and buybacks are ongoing, with a focus on optimizing shareholder value [62][64]

Financial Data and Key Metrics Changes - F.N.B. reported fourth quarter operating net income available to common shareholders of $182.50 per diluted common share, with full year 2025 operating performance reflecting revenue of $1.8 billion and operating net income of $577 million, marking a 14% year-over-year growth in operating EPS driven by a 9% growth in net interest income [5][13] - Return on average tangible common equity was 16%, and tangible book value per share increased by 13% year-over-year to $11.87 [5][20] - Fourth quarter net interest income reached a record $365.4 million, up 1.7% linked quarter and 13.4% year-over-year [16] Business Line Data and Key Metrics Changes - Average loans and leases for the fourth quarter totaled $35 billion, with average consumer loans growing by $223 million, while average commercial loans and leases slightly decreased by $54 million [14][15] - The equipment finance business originated renewable energy financing transactions, contributing to the overall revenue growth [13] - Operating non-interest income was $92.3 million, up 8.8% from the previous year, with wealth management revenues growing by 15% [17] Market Data and Key Metrics Changes - Average deposits totaled $38.6 billion, an increase of $740 million or 7.7% linked quarter annualized, driven by organic growth in customer relationships [15] - The loan-to-deposit ratio improved to 89.7%, a more than 170 basis point improvement from year-end 2024 [16] Company Strategy and Development Direction - F.N.B. is focused on diversifying revenue streams, optimizing the balance sheet, and deploying capital thoughtfully to enhance shareholder value [23] - The company continues to invest in technology and digital capabilities, including AI and data analytics, to drive efficiency and revenue growth [8][23] - The Clicks-to-Bricks strategy aims to enhance client experience and deepen relationships through innovative solutions [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving meaningful loan and deposit growth, margin expansion, and further diversification of fee income in 2026 [23][24] - The company anticipates mid-single-digit growth in loans and deposits for 2026, with net interest income expected between $1.495 and $1.535 billion [21][22] - Management noted that the macroeconomic environment is favorable for mortgage banking and treasury management activities [30][32] Other Important Information - The efficiency ratio remained solid at 53.8% for the fourth quarter, with expectations for improvement in 2026 [20] - The company achieved annual cost savings of $10 million to $20 million per year since 2019, with expectations for higher savings in 2026 [8] Q&A Session Summary Question: Fee income growth expectations for 2026 - Management highlighted the importance of diversification in fee-based businesses, projecting continued solid growth in 2026 with contributions from newer businesses and core fee-based services [30][31] Question: Operating leverage outlook for 2026 - Management indicated confidence in achieving meaningful operating leverage in 2026, with expectations for expenses to grow in the low single digits while investing in new initiatives [38][39] Question: Loan growth outlook for 2026 - Management expects mid-single-digit growth in loans, with C&I and CRE anticipated to outpace residential loans, supported by strong production and capacity for growth [47][49] Question: Capital management and CET1 ratio - Management noted that the CET1 ratio is at 11.4%, with sufficient capital generation to support high single-digit loan growth while considering buybacks and potential dividend increases [55][62] Question: M&A strategy - Management emphasized a focus on organic growth and internal capital generation, with M&A being a lower priority unless a compelling opportunity arises [90][91]

Financial Data and Key Metrics Changes - F.N.B. reported fourth quarter operating net income available to common shareholders of $182.50 per diluted common share, with full year 2025 operating performance reflecting revenue of $1.8 billion and operating net income of $577 million, marking a 14% year-over-year growth in operating EPS driven by a 9% growth in net interest income [5][14][25] - Return on average tangible common equity was 16%, and tangible book value per share increased by 13% year-over-year to $11.87 [5][22] - Fourth quarter net interest income reached a record $365.4 million, up 1.7% linked quarter and 13.4% year-over-year, with a net interest margin of 3.28% [18][19] Business Line Data and Key Metrics Changes - Average loans and leases increased by $169 million, or 1.9% annualized, with average consumer loans growing by $223 million, while average commercial loans slightly decreased by $54 million [16][17] - Operating non-interest income was $92.3 million, up 8.8% from the previous year, with wealth management revenues growing by 15% [19][20] - The efficiency ratio improved to 53.8%, 307 basis points better than the previous year, indicating effective expense management [21] Market Data and Key Metrics Changes - Average deposits totaled $38.6 billion, an increase of $740 million, or 7.7% linked quarter annualized, driven by organic growth in customer relationships [17] - The loan-to-deposit ratio improved to 89.7%, a significant improvement from year-end 2024 [18] Company Strategy and Development Direction - The company is focused on diversifying revenue streams, optimizing the balance sheet, and leveraging technology investments to enhance customer experience and drive growth [6][25] - F.N.B. has introduced innovative solutions such as PaymentSwitch to facilitate customer transitions to their banking services, enhancing competitive positioning [7][8] - The company aims to achieve mid-single-digit growth in loans and deposits for 2026, with expectations for net interest income between $1.495 billion and $1.535 billion [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver meaningful loan and deposit growth, margin expansion, and further diversification of fee income in 2026 [25][26] - The company anticipates continued strong performance in its loan portfolio, particularly in commercial and industrial (C&I) lending, supported by a favorable economic environment [13][50] Other Important Information - The company has achieved annual cost savings of $10 million to $20 million since 2019 and expects higher levels of cost savings in 2026 through increased automation [8][9] - F.N.B. has maintained strong asset quality metrics, with total delinquency at 71 basis points and net charge-offs at 19 basis points [10][11] Q&A Session Summary Question: Fee income growth expectations for 2026 - Management highlighted the importance of diversification in fee-based businesses, projecting continued solid growth driven by new initiatives and strong performance in core fee-based businesses [30][31][32] Question: Operating leverage outlook for 2026 - Management discussed expectations for meaningful increases in operating leverage, with expenses growing in low single digits while investing in new initiatives [37][39][40] Question: Loan growth outlook for 2026 - Management indicated that C&I and CRE are expected to lead loan growth, with a strong production quarter despite large payoffs impacting spot balances [47][50][51] Question: Capital management and CET1 ratio - Management noted that the CET1 ratio is at 11.4%, with sufficient capital generation to support high single-digit loan growth while considering buybacks and dividends [56][60][63] Question: M&A strategy - Management emphasized a focus on organic growth and internal capital generation, with M&A being a lower priority unless a compelling opportunity arises [89][90]

Core Viewpoint - F.N.B. Corporation (FNB) reported strong fourth-quarter 2025 operating earnings of 50 cents per share, exceeding expectations and reflecting a 31.6% year-over-year increase, driven by higher net interest income and non-interest income, despite rising non-interest expenses [1][11]. Financial Performance - Operating earnings per share for 2025 reached $1.59, a 14.4% increase year over year, surpassing the consensus estimate of $1.50 [3]. - Net income available to common shareholders was $168.7 million or 47 cents per share, up from $109.9 million or 30 cents per share in the prior-year quarter [2]. - Total revenue for the quarter was $457.8 million, a 22.7% increase from the previous year, exceeding the Zacks Consensus Estimate of $455.8 million [4]. Income Sources - Net interest income (NII) was $365.4 million, up 13.4% year over year, primarily due to growth in earning assets and a lower cost of funds, with net interest margin (NIM) expanding to 3.28% [5]. - Non-interest income surged to $92.3 million, an 81.3% increase year over year, driven by higher service charges and trust services, despite a decline in mortgage banking operations [6]. Expense Management - Non-interest expenses rose to $273.2 million, a 10.1% increase, with adjusted non-interest expenses up 3.4% to $256.5 million [7]. Loan and Deposit Growth - Average total loans and leases were $35.0 billion, a 3.4% increase year over year, while average total deposits reached $38.6 billion, up 4.5% [8]. Credit Quality - Provision for credit losses decreased to $18.9 million from $22.3 million in the prior-year quarter, with net charge-offs also declining to $16.4 million [9]. - The ratio of non-performing loans plus other real estate owned (OREO) to total loans and leases plus OREO decreased to 0.31% [9]. Capital Ratios - As of December 31, 2025, the common equity Tier 1 (CET1) ratio improved to 11.4% from 10.6% in the prior-year quarter, and the tangible common equity to tangible assets ratio increased to 8.9% from 8.2% [12]. Share Repurchase - During the fourth quarter of 2025, F.N.B. Corp repurchased $18 million worth of shares, totaling 1.1 million shares at an average price of $16.20 [13]. Future Outlook - The company is expected to benefit from increased fee income, diverse revenue streams, and strategic expansions, although rising expenses and significant commercial loan exposures present challenges [14].

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F.N.B. Corporation Fourth Quarter 2025 January 21, 2026 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. Forward-looking sta ...

Financial Performance - F.N.B. Corporation reported total revenue of $1.8 billion for the full year 2025, with net income available to common shareholders of $565.4 million, or $1.56 per diluted common share, representing a 23% increase from 2024[3] - The fourth quarter 2025 earnings per diluted common share (non-GAAP) was $0.50, up from $0.38 in the fourth quarter of 2024, reflecting a 31.6% year-over-year increase[2] - Net income available to common shareholders for Q4 2025 was $168,693 thousand, a 12.8% increase from Q3 2025 and a 53.6% increase from Q4 2024[44] - Net income (annualized) for Q4 2025 reached $669,270,000, an increase of 12.9% from $593,162,000 in Q3 2025 and a 53.1% increase from $437,056,000 in Q4 2024[64] - Operating net income available to common shareholders reached $168,693 thousand in Q4 2025, an increase of 12.8% from Q3 2025 and 53.4% from Q4 2024[61] Loan and Deposit Growth - Average loans and leases totaled $35.0 billion, an increase of $1.2 billion, or 3.4%, driven by consumer loan growth[5] - Average deposits reached $38.6 billion, an increase of $1.7 billion, or 4.5%, with a stable mix of non-interest-bearing demand deposits at 26%[12] - Total loans and leases decreased slightly to $34,777 million in 4Q25 from $34,957 million in 3Q25, but increased by 2.5% compared to $33,939 million in 4Q24[54] - Total deposits rose to $38,759 million in 4Q25, reflecting a 0.8% increase from $38,441 million in 3Q25 and a 4.5% increase from $37,107 million in 4Q24[45] Interest Income and Margin - Net interest income for the fourth quarter totaled a record $365.4 million, an increase of $43.2 million, or 13.4%, year-over-year[10] - Net interest income for 4Q25 was $365,442 thousand, a 1.7% increase from Q3 2025 and a 13.4% increase from Q4 2024[44] - The net interest margin improved to 3.28% in 4Q25, up from 3.25% in 3Q25[46] - Net interest income (FTE) for 2025 was $1,395.8 million, compared to $1,280.4 million in 2024, reflecting an increase of 9.0%[48] - The net interest margin (FTE) improved to 3.19% in 2025 from 3.09% in 2024[51] Non-Interest Income and Expenses - Non-interest income totaled $92.3 million, an increase of $41.4 million, or 81.5%, compared to $50.9 million[13] - Non-interest income for Q4 2025 totaled $92,341 thousand, a decrease of 5.9% from Q3 2025 but an increase of 81.3% from Q4 2024[44] - Non-interest expense totaled $273.2 million, an increase of $25.0 million, or 10.1%[13] - Total non-interest expense for Q4 2025 was $273,169 thousand, reflecting a 12.2% increase from Q3 2025 and a 10.1% increase from Q4 2024[44] Credit Quality - The provision for credit losses was $18.9 million, a decrease of $5.1 million from the prior quarter, with net charge-offs of $16.4 million[8] - The provision for credit losses in Q4 2025 was $18,870 thousand, down 21.3% from Q3 2025 and down 15.2% from Q4 2024[44] - Non-performing loans decreased to $105 million in 4Q25, a reduction of 16.0% from 3Q25 and 34.0% from 4Q24[57] - The allowance for credit losses on loans and leases was $439.5 million in 4Q25, reflecting a 0.5% increase from 3Q25 and 4.0% from 4Q24[59] Capital and Equity - The Common Equity Tier 1 (CET1) regulatory capital ratio was estimated at 11.4%, up from 10.6% at December 31, 2024[8] - The CET1 regulatory capital ratio was 11.4% at December 31, 2025, up from 10.6% at December 31, 2024[15] - Shareholders' equity increased to $6,759 million in 4Q25, a 1.9% rise from $6,636 million in 3Q25 and a 7.3% increase from $6,302 million in 4Q24[45] - Book value per common share increased to $18.92 in 4Q25 from $18.52 in Q3 2025 and $17.52 in Q4 2024[51] Community Engagement - F.N.B. Corporation contributed $20.0 million to the FNB Foundation in December 2025, demonstrating commitment to community support[8] - The company reported a tax benefit of $4,200 thousand related to the FNB Foundation contribution in 4Q25[61] Operational Highlights - F.N.B. Corporation reported total assets exceeding $50 billion and operates approximately 350 banking offices across seven states and the District of Columbia[39] - The company plans to host a conference call on January 21, 2026, to discuss its financial results[35]