Financial Data and Key Metrics - Q3 operating net income available to common shareholders was $122 million, or $0.34 per diluted share, after adjusting for $15 million of significant items impacting earnings [3] - Record CET1 ratio of 10.4% and tangible book value growth of 15% YoY [4] - Total loans increased 4.6% annualized linked quarter to $33.7 billion, excluding a $431 million indirect auto loan sale [5] - Total deposits increased 5.1% or $1.8 billion linked quarter to $36.8 billion [5] - Loan-to-deposit ratio improved to 91.7%, down nearly 5 percentage points from last quarter [6] - Net interest income increased 2.4% linked quarter to $323.3 million [16] - Efficiency ratio was 55.2%, a peer-leading level [7] Business Line Performance - Consumer loan growth of $299 million, led by residential mortgage originations [14] - Commercial loans and leases grew $93 million linked quarter [14] - Non-interest income reached an all-time high of $89.7 million, driven by capital markets and mortgage banking [18] - Mortgage banking income decreased $1.4 million due to MSR impairment [19] Market Performance - Gained market share in multiple MSAs, ranking 2 in traditional retail deposit share in Pittsburgh [4] - Grew or maintained deposits in nearly 90% of MSAs over the past year, ranking in the top 5 in nearly 50% of MSAs across seven states [23] - Double-digit deposit growth in the Carolinas and strong performance in central Pennsylvania and Pittsburgh [82][83] Strategy and Industry Competition - Focus on being customers' primary operating bank through digital tools, clicks-to-bricks strategy, and product bundling [6] - Diversifying revenue streams and expanding capital markets business [7] - Proactive credit risk management with comprehensive stress testing and underwriting guidelines [8][11] - Maintaining a conservative approach to M&A, focusing on in-market acquisitions with cost savings and immediate earnings accretion [51][52] Management Commentary on Operating Environment and Outlook - Expects loan demand to pick up post-election, particularly in C&I lending [32] - Anticipates continued deposit growth and stable loan-to-deposit ratio in Q4 [15] - Guidance for Q4 includes mid-single-digit loan and deposit growth, non-interest income of $85-90 million, and non-interest expense of $225-235 million [21] - Expects deposit beta of 15% by year-end, with potential to outperform [29] Other Important Information - Completed a $431 million indirect auto loan sale to improve capital and loan-to-deposit ratio [4][13] - Increased marketing expenses by $2 million to support deposit initiatives [7] - Recognized as one of Times World's Best Companies and Newsweek's America's Most Admired Workplaces [24] Q&A Summary Deposit Growth and Pricing - New deposit inflows averaged 4.25%, with flexibility to reduce rates as market conditions change [26] - Expects deposit beta of 15% by year-end, with potential to outperform [29] Loan Growth and Portfolio Management - Indirect auto loan sale was not a credit play but a balance sheet management strategy [30][31] - Expects mid-single-digit loan growth for the full year, with potential for acceleration in 2025 [41][42] Expense Management - Q3 operating expenses of $234 million were driven by marketing and strategic hiring [36] - Expects Q4 expenses to be lower sequentially, with ongoing cost-saving initiatives for 2025 [37] Credit Quality - Credit metrics remained stable, with net charge-offs at 25 bps and criticized loans down 22 bps linked quarter [9] - Proactive credit risk management and stress testing support portfolio stability [11][58] Margin and Interest Rate Sensitivity - Expects flattish margin in Q4, with potential for improvement as rates stabilize [56] - Moving towards a more neutral interest rate position, with flexibility to reprice liabilities [77] M&A and Capital Deployment - Focused on in-market acquisitions with cost savings and immediate earnings accretion [51][52] - Capital levels at all-time highs, providing flexibility for shareholder value creation [20]

Shares of F.N.B. Corporation (FNB) lost 5.7% in after-market trading following the release of its lower-thanexpected third-quarter 2024 results. Adjusted earnings per share of 30 cents lagged the Zacks Consensus Estimate of 36 cents. Moreover, the bottom line reflected a decline of 15% from the prior-year quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. The results were primarily affected by higher expenses and lower net interest income (NII). Nonetheless, a higher non-inte ...

For the quarter ended September 2024, F.N.B. (FNB) reported revenue of $413.02 million, up 1.2% over the same period last year. EPS came in at $0.34, compared to $0.40 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $409.8 million, representing a surprise of +0.78%. The company delivered an EPS surprise of -5.56%, with the consensus EPS estimate being $0.36. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

F.N.B. (FNB) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -5.56%. A quarter ago, it was expected that this financial holding company would post earnings of $0.35 per share when it actually produced earnings of $0.34, delivering a surprise of -2.86%. Over the last four quarters, the ...

Deposit Growth of $1.8 billion, or 5%, Linked-Quarter and Tangible Book Value per Share (non-GAAP) Growth of 15% from the Year-Ago Quarter PITTSBURGH, Oct. 17, 2024 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) reported earnings for the third quarter of 2024 with net income available to common stockholders of $110.1 million, or $0.30 per diluted common share. Comparatively, third quarter of 2023 net income available to common stockholders totaled $143.3 million, or $0.40 per diluted common share, and secon ...

Also Earns Third Consecutive Top Workplace Award in Charlotte, NC PITTSBURGH, Oct. 16, 2024 /PRNewswire/ -- First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), recently built on its collection of awards for superior employee experience, with four Top Workplaces National Culture Excellence honors and a regional Top Workplaces award for Charlotte, NC. Based on employee survey feedback compiled by leading third-party research firm Energage, the Top Workplaces program identifies organ ...

Wall Street analysts forecast that F.N.B. (FNB) will report quarterly earnings of $0.36 per share in its upcoming release, pointing to a year-over-year decline of 10%. It is anticipated that revenues will amount to $409.8 million, exhibiting an increase of 0.4% compared to the year-ago quarter. The consensus EPS estimate for the quarter has undergone an upward revision of 1.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ...

The market expects F.N.B. (FNB) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 17, 2024, might help the stock move higher if these key numbers are b ...

PITTSBURGH, Oct. 2, 2024 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced today a $100,000 donation to the American Red Cross for Hurricane Helene relief efforts across the southeastern United States. "Our fellow team members, branches, customers and communities have been deeply affected by this devastation, and we are committed to supporting the recovery efforts," said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "We will cont ...

PITTSBURGH, Sept. 26, 2024 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) announced today that it plans to issue financial results for the third quarter of 2024 after the market close on Thursday, October 17, 2024. Chairman, President and Chief Executive Officer, Vincent J. Delie, Jr., Chief Financial Officer, Vincent J. Calabrese, Jr., and Chief Credit Officer, Gary L. Guerrieri, plan to host a conference call to discuss the Company's financial results on Friday, October 18, 2024, at 8:30 AM ET. Participan ...